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4.1 Seller's Closing Documents. On the Closing Date, Seller shall execute and <br /> deliver to Buyer the following(collectively, "Seller's Closing Documents"), all in <br /> form and content reasonably satisfactory to Buyer: <br /> 4.1.1 Deed. A Warranty Deed conveying the Real Property to Buyer, free and <br /> clear of all encumbrances, except the Permitted Encumbrances (as <br /> hereafter defined). <br /> 4.1.2 IRS Forms. A Designation Agreement designating the "reporting person" <br /> for purposes of completing Internal Revenue Form 1099 and, if applicable, <br /> Internal Revenue Form 8594. <br /> 4.1.3 Well Certificate. A Certificate signed by Seller warranting that there are <br /> no "Wells" on the Property within the meaning of Minn. Stat. § 103I or, if <br /> there are"Wells", a Well Certificate in the form required by law. <br /> 4.1.4 Storage Tanks. If the Property contains or contained a storage tank, an <br /> affidavit with respect thereto, as required by Minn. Stat. § 116.48. <br /> 4.1.5 Other Documents. All other documents reasonably determined by Buyer <br /> or the Title Company to be necessary to transfer the Property to Buyer free <br /> and clear of all encumbrances, except the Permitted Encumbrances. <br /> 4.2 Buyer's Closing Documents. On the Closing Date, Buyer will execute and <br /> deliver to Seller the following(collectively, "Buyer's Closing Documents"): <br /> 4.2.1 Purchase Price. Funds representing the Purchase Price, by cash or by wire <br /> transfer of immediately available funds. <br /> 4.2.2 IRS Form. A Designation Agreement designating the "reporting person" <br /> for purposes of completing Internal Revenue Form 1099 and, if applicable, <br /> Internal Revenue Form 8594. <br /> 5. Prorations. Seller and Buyer agree to the following pro-rations and <br /> allocation of costs regarding this Agreement: <br /> 5.1 Title Insurance and Closing Fee. Seller will pay all costs of the Title Evidence. <br /> Seller will pay the premium required for the issuance of the Title Policy, if an <br /> updated abstract of title is not provided. If Seller provides Buyer an updated <br /> abstract of title, Buyer shall pay the premium for issuance of the Title Policy. <br /> Seller and Buyer will each pay one-half of any closing fee or charge imposed by <br /> the Title Company. <br /> 5.2 Deed Tax. Seller shall pay all State Deed Tax payable in connection with this <br /> transaction. <br /> 5.3 Real Estate Taxes and Special Assessments. Real Estate Taxes payable in the <br /> year in which Closing occurs shall be pro-rated based upon the Closing Date. On <br /> -3- <br />