CC PACKET 06252002 - Laserfiche WebLink

Home Browse Search

06/18/02 TUE 14:38 FAX 16123402644 DORSEY WHITNEY LLP JUN-18-2002 14-'10 DORSEY 8 WHITNEY LLP 6123402868 06/18/2002 13:14 FAX 612 789 2109 F W H B LAW OFFICE S. Condemn,atioa. Jr,the event that•,prior to the Closing Date,all or any portion of the Property shall have been affected by a condemnation or taldng by eminent domain,or shall be the subject Of any condemmation proceeding which shall have been commoti or of which Buyer or Seller shall Dave received actual or constructive notice,Buyer or Seller, at their individual option, may terminate this Agreement within arty(30) days of the date of such notice,in which event the Earnest Money shall be returned to Buyer, and upon such return neither parry shall have any further rights,duties,obligations or liabilities,at law or in equity,arising out of or related to this Agreement If this Agreement is not terminated pursuant to this Paragraph 8, then Buyer shall accept the Property,or sucks title thereto as Seller can convey,in such condition as the Property or title may then be, with no reduction in purchase price,but together with the right to receive the proceeds of any condemnation award which shall have been or shall be made in connection with such condemnation or taking. g. lIpmoval of tures. Seller agrees that,prior to the Date of Closing, Seller will dem fish and rernrn a all structures on the Project and any debris. 10. State Dee Tax. Seller shall pay the cost of any state deed tax stamps required to be attached to the.Deed upon recording hereof in accordance with the requirements of any lawful authority. 11. AMiements Peadinj Closing_ Prior to the earlier of the Closing Date or the ter&ination of this Agreement, Seller shall act enter into,modify or extend any leases or contracts with respect to, or grant any option to purchase or lease, all or any portion of the Properly without the,prior written consent of Buyer,which consent shall not be unreasonably withheld. On or prior to the Closing Date, Seller shall remove from the Property all personal property of Seller not being conveyed hereunder,together with all debris_ 12. Interim Ongration s. After the date hereof, and until the Closing Date, Seller shall opdrate or cause to be operated the PropertY in the same manner in which it is operated as of the date hereof, shall maintain or cause to be maintained all insurance coverages currently in place (if any) and shall keep the Property in good condition and repair- 13. Mechanics'-Liens. Seller agrees to fully satisfy and discharge prior to the Closing Date any and all existing or potential mechanics' liens affecting the Property- 6