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Draft 11.3.2023 <br /> <br />5 <br />DOCSOPEN\MU205\62\913096.v4-11/5/23 <br />Upon the approval of Buyer's governing body, the Buyer shall provide written notice to <br />Seller that the contingencies set forth above are satisfied. Until Seller receives such notice, <br />Seller will not begin performance of Seller’s performance obligations required by this <br />Agreement. Buyer shall have until the Date of Closing to remove the remaining <br />contingencies set forth above in this paragraph. The contingencies are solely for the benefit <br />of Buyer and may be waived by Buyer. If the contingencies are duly satisfied or waived, <br />then the Buyer and Seller shall proceed to close the transaction as contemplated herein. If, <br />however, one or more contingencies is not satisfied, or is not satisfied on time, and is not <br />waived, this Agreement shall thereupon be void, at the option of Buyer. If this Agreement <br />is voided by Buyer, Buyer and Seller shall execute and deliver to each other the termination <br />of this purchase agreement. As a contingent purchase agreement, the termination of this <br />Agreement is not required pursuant to Minnesota Statutes, Section 559.21, et seq. <br /> <br />12. WELL AND SEPTIC SYSTEM DISCLOSURE: The Seller certifies that Seller does not <br />know of any wells on the described real Property. Provided however, if the Property does <br />contain wells, the cost of sealing any wells required to be capped or sealed under Minnesota <br />law will be borne by the Seller. If the well is not sealed by the date of closing, Seller shall <br />escrow a sum equal to two times the bid price from a licensed well sealing contractor to <br />complete the sealing process. Seller shall prepare, execute and file any required well <br />certificate at or before closing. If the Property has a septic system, Seller agrees to provide <br />water quality test results and/or septic system certification as required by state law or local <br />ordinance. <br /> <br />13. OTHER GENERAL AND SPECIAL WARRANTIES: <br /> <br />A. Right of Access. Seller warrants that there is a right of access to the Property from a <br />public right of way. <br /> <br />B. Mechanic’s Liens. Seller warrants that, prior to the closing date, Seller has made any <br />and all payments in full for all labor, materials, machinery, fixtures or tools furnished <br />within the 120 days immediately preceding the closing date in connection with <br />construction, alteration or repair of any structure on or improvement (including, but <br />not limited to grading and landscaping, etc.) to the Property, if any. <br /> <br />C. Buildings. Seller warrants that buildings, if any, are entirely within the boundary lines <br />of the Property. <br /> <br />D. Notices. Seller warrants that Seller has not received any notice from any <br />governmental authority as to violation of any law, ordinance, or regulation. If the <br />Property is subject to restrictive covenants, Seller warrants that Seller has not received <br />any notice from any person or authority as to a breach of the covenants. Any notices <br />received by Seller shall be provided to Buyer immediately. <br /> <br />E. Sewer and Water. Seller warrants that the Property is connected to city of Mounds