CC PACKET 06122012 - Laserfiche WebLink

Home Browse Search

19 ordinance that would prevent Buyer's contemplated use of the Property. To Seller's knowledge, there are no pending or threatened violations of any federal, state, or county law or ordinance concerning the Property that would adversely affect Seller's right to convey the Property to Buyer as contemplated in this Agreement or prevent Buyer's contemplated use of the Property. There are no violations of any City of St. Anthony ordinance concerning the Property that would adversely affect Seller's right to convey the Property to Buyer as contemplated in this Agreement or prevent Buyer's contemplated use of the Property. 12.6. Contract Termination. No service or other contracts will affect the Property at Closing, and Seller, at Seller's expense, covenants to terminate any and all contracts pertaining to the Property prior to Closing. 12.7. Removal of Personal Property. Seller covenants that it will remove all personal property from the Property prior to Closing. Seller shall be liable for all of Buyer's costs to dispose of any personal property left behind after Closing. 12.8. No Leases. Seller represents and warrants that there are no leases for the Property or any portion thereof. 12.9. Seller Financing. To Seller's knowledge, no covenants, conditions or restrictions arising out of any method of Seller's financing of the Property will affect or encumber the Property after Closing. 12.10. Continuing Obligations. To Seller's knowledge, Seller has not contracted or made any agreements which will bind Buyer as successor in interest with respect to the Property. 12.11. Special Assessments. To the Seller's knowledge, the only special assessments levied against the property are for roadway improvements related to 39°i Street (the "Special Assessments"). The approximate outstanding balance of the Special Assessments is $97,500. For a period of one year after the Closing, Seller will indemnify Buyer, its successors and assigns, against, and will hold Buyer, its successors and assigns, harmless from, any expenses or damages, including reasonable attorneys' fees, that Buyer incurs because of the breach of any of the above representations and warranties, whether such breach is discovered before or after Closing and thereafter, all representations and warranties shall expire. Any claims by Buyer with respect to such representations and warranties shall be commenced by written notice to Seller within said one year period or shall be deemed waived by Buyer. Consummation of this Agreement by Buyer with knowledge of any such breach by Seller will constitute a waiver and release by Buyer of any claims due to such breach. The indemnification obligations under this Section 12 shall survive the Closing for one year.