Agenda Packets - 1986/04/07 - Laserfiche WebLink

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be assiming the liabilities of Seller. Seller agrees to hold harmless the Buyer from any obligation on said liabilities. Seller warrants that all taxes relating to Seller's business have been or will be paid by Seller. Seller agrees to hold Buyer harmless from any obligation on said taxes. .3eller agrees that all wages and employee benefits will be paid as of th? time of closing or will be part of the adjustments to the purchase price at closing. 27. Seller warrants that there are no judgments, liens existing, nor actions or pr.ceedings pending or threatened against it which would interfere with or prohibit the sale herein to the best of Seller's knowledge. 28. As security for payment of the unpaid balance of the purchase price, Buyer shall execute and deliver to Seller, at I the closing hereof, a Security Agreement, in the torm o, "Exhibit C" attached hereto, and Buyer shall execute end deliver to Seller a UCC-1 Financing Statement, in the form of `Exhibit D" ar.tacher' hereto. Said Security Agreement and Financing Statement shall provide Seller with a security interest in the on sale liquor Yicense and all other licenses issued by the City of Mounds View to Buyer pertaining to the operation of the business. 29. The terms, covenants, conditions and provisions of this Purchase Agreement shall survive the closing and shall extend to and bind the successors and assigns of the parties hereto. we have carefully inspected and examined, or will be inspecting and examining, the above -described property and equip- ment, and have satisfied ourselves that they are as represented, and hereby agree to purchase the said property for the price -9-