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1) Exceotions :.ncariny on thr• oriqinal cet- <br />iificate of title; <br />2) Duilding and znnin 7 laws, orclinanCes, <br />state and federal regulatione:; <br />3) Reservation Co thr St:.te of Minnesota <br />Of mincral and mincral riqht.:;, <br />4) F.asements, covenaut::, restricSions and <br />orders of record; <br />5) Special assessments levi.ed or oending. <br />H. City sha11 assume the real estatc taxes and soeci.al <br />assessments payable in the year 7980 on an apportioned basi.s, <br />sai apportionmcnt sh ll he detecmined a, fo ll o:s: The num- <br />eratDr of the apportionment fracti.en shall be the numbez of <br />days remaininq in the calendac }ear from the date of closinq, <br />the denominator of said fraction ::tia11 6e 365. <br />2. Developers, subjoct to perfo rn.nco by CiTy of the terms af <br />this Aqreement, shall on or beEOre Junc 1, 1980, sell, transfer and <br />convey to the City qood and marketable title in the nremises outlined <br />in red on Exhibit D, attached hereto and hnreby ma e a oart hereof, <br />which premises are more particularly described in F.xhibit E, attached <br />hereto and hereby made a part hereof (hereinafter zeferred to as the <br />Lake Property"). <br />A. _.:-loper ..-. , u ansf r and convey nce of the <br />Lake Property shall be by Warranty ueed subject to the £ol- <br />lowing: <br />1) xceptions ppnarinn on the oriqiRal cer- <br />tificate of title; <br />2) Buildinq and zoninq laws, ordinances, <br />state and federal regulationti; <br />3) Reservatinn to tho State of Minnesota <br />of mineral and mineral riqht::; <br />4) Easements, covenants, restrictions and <br />orders oF record; <br />5) Speeial assessments levied or oendinq. <br />B. City shall assume the real estate taxes a d special <br />assessments payable in the yea[ 1980 on an apnortioned basis, <br />Z'