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Agenda Packets - 1986/04/07
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Agenda Packets - 1986/04/07
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Last modified
3/26/2025 4:11:32 PM
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3/26/2025 4:11:32 PM
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MV Commission Documents
Commission Name
City Council
Commission Doc Type
Agenda Packets
MEETINGDATE
4/7/1986
Description
Work Session
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and all earnest monies paid herein shall be returned to Buyer. <br />it. 'rne Seller, tnrougn its principal shareholder, James <br />Loosen, herein agrees to assist the Buyer in the orderly transfer <br />of the business and for that purpose will make himself or a repre- <br />sentative available for consultation for a period of two (2) weeks <br />after date of closing, at no cost to Buyer. <br />18. This Agreement is further subject to, and contingent <br />upon, the Buyer's satisfactory examination of all books and <br />financial records of the business being sold. The Seller shall, <br />within a reasonable time after acceptance of this offer, furnish <br />to Buyer all such books, ledgers, journals, receipts, etc., as <br />Buyer shall deem necessary for said examination. The Buyer shall <br />have ten (10, days after receipt to examine the books and financial <br />records, and to re' -ease this contingency. If the Buyer exercises <br />' this contingency, he shall notify the Seller or the Seller's <br />agent in writing, and upon such notice, this Agreement shall <br />become null and void, and all earnest monies paid herein shall <br />be returned to the Buyer. If the Buyer does not exercise the <br />option in writing after the examination, as provided herein, <br />this%contingency shall be considered removed and the Buyer shall <br />be deemed to have waived his right to void the Agreement for <br />this reason. <br />19. This Agreement shall be construed in accordance with <br />and governed by the laws of the State of Minnesota. The covenants, <br />terms and conditions of this Agreement shall be, and hereby are, <br />deemed to survive the date of the closing of the transaction <br />contemplated herein. <br />20. The parties hereto acknowledge that the Seller and <br />-6- <br />
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