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(C): Buyer's approval of an appraisal of the Property, at Buyer's expense. <br />(D): Seller to supply Buyer with a copy of all written leases, if any, and a list of <br />any outstanding verbal agreements regarding leasehold agreements and <br />evidence that such leases or agreements have been terminated. <br />(E): Approval of this Option Agreement by the Buyer's governing body. <br />Buyer shall have until sixty (60) days from execution of this Option Agreement to <br />remove the remaining contingencies set forth above. The contingencies are solely <br />for the benefit of Buyer and may be waived by Buyer. If the contingencies are <br />duly satisfied or waived, then the Buyer and Seller shall proceed to close the <br />transaction as contemplated herein. If, however, one or more contingencies is not <br />satisfied, or is not satisfied on time, and is not waived, this Option Agreement <br />shall thereupon be void, at the option of Buyer. If this Option Agreement is <br />voided by Buyer, Buyer and Seller shall execute and deliver to each other the <br />termination of this Option Agreement. As a contingent agreement, the <br />termination of this Option Agreement is not required pursuant to Minnesota <br />Statutes, Section 559.21, et seq. <br />6.2. Seller's obligation to sell is contingent upon the following: <br />(A): None. <br />Section 7. Operation of Property Prior to Closing. Until the Closing Date, Seller <br />shall have the full responsibility for the continued maintenance of the Property. Prior to the <br />Closing Date: <br />A. Seller shall not cause any new liens, leases, contracts or encumbrances to be <br />created by Seller against the Property; <br />B. Seller shall continue to comply with all of its duties and obligations as set forth in <br />any leases or contracts in effect at the Property; <br />C. Seller shall (i) maintain the Property in good repair, (ii) not make, terminate or <br />materially change, amend, modify materially any agreements relating to the Property <br />or other rights, obligations or agreements relating to use, ownership or operation of <br />the Property where such changes, amendments or modifications would increase the <br />Seller's obligations liability or expenses thereunder, not enter into any commitments <br />for the rental or use of the Premises or any portion thereof, and (iii) not make any <br />substantial alterations or changes to the Property other than ordinary and necessary <br />maintenance repairs without Buyer prior written approval, which shall not be <br />unreasonably withheld or delayed. Subject to the foregoing, Seller shall have the <br />right to continue to carry on the business currently conducted from the Property and <br />to operate the Property in the ordinary course of business. <br />6 <br />DOCSOPEN\MU2 1 0\329\1 036056.v2-7/9/25 <br />