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06/18/02 TUE 14:38 FAX 16123402644 DORSEY WHITNEY LLP JUN-le-2002 14:10 DORSEY & WHITNEY LLP 6123402868 36 06/18/2002 13:16 FAX 612 789 2109 F W H B LAW OFFICE _.___ _ With a copy to: Roseanne M.Hope,Esq. Dorsey &Whimey,LLP 50 South Sixth$treet,#1500 1V bneapolis,MN 55402-1498 Or addressed to any such party at such other addresses as such party shall hereafter have fwr►ished notice of to the other paatY. 17. Rebate of Purcbme Price. Seller agrees that when Buyer receives the mechanic's lien waivers from its contractor for building a Culvers Restaurant and a Certificate of Occupancy ("CO")from the Seller for that Restaurant,Seller will rebate,within fifteen(15)days of the issuance of the CO and receipt of lien waivers,the sum of$314,000.00 to Buyer. Seller agrees that it will not unreasonably withhold the issuance of the CO. 18. Time of the Essen_ . 'Time is of the essence of this Agreement 19. Brokers, Seller and 'Buyer agree and acknowledge that neither party hereto is represented by a real estate agent or broker in connection with the Agreement or the transections contemplated hereby. 20, DevellopmegLAUgement. Thus Purchase,Agreement shall constitute a development agreement for purposes of MN Stat. §469.174, sub. l OD and the property is within a redevelopment district 21. Sury v . All representations,warranties,covenants and agreements of the parties hereto shall survive the closing of the transaction contemplated hereby for a period of six months front the date of closing. 22, Assignment. Buyer may assign its interest in this Agreement to a single purpose lini ted liability company, provided that Buyer and its assignee shall execute an assignment =d assumption agreement in a form acceptable to Seller and further provided,however,that such right shall not relieve Buyer of its liabilities hereunder- 8