2018.09.17 CC Packet - Laserfiche WebLink

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7.2.2 Waive the Objections and proceed to close. 8. Operation Prior to Closin. During the period from the date of Seller's acceptance of this Agreement to the Closing Date (the "Executory Period"), Seller shall operate and maintain the Property in the ordinary course of business in accordance with prudent, reasonable business standards. Seller shall execute no contracts, leases or other agreements regarding the Property during the Executory Period that are not terminable on or before the Closing Date, without the prior written consent of Buyer, which consent shall not be unreasonably withheld. Seller agrees to forward all reasonable inquiries related to sale of the property to buyer. Buyer shall take no action which may cause mechanic's or other liens to be placed on the property and shall defend, indemnify and hold Seller harmless from any lien or claimed lien. 9. Re t?resentations and Warranties by Seller. Seller represents and warrants to Buyer as follows: 9.1 Existence: Authoritti . Seller has the requisite power and authority to enter into and perform this Agreement and Seller's Closing Documents; such documents are valid and binding obligations of Seller, and are enforceable in accordance with their terms. 9.2 Seller's Defaults. Seller is not in default concerning any of its obligations or liabilities regarding the Property. 9.3 FIRPTA. Seller is not a "foreign person", "foreign partnership", "foreign trust" or "foreign estate", as those terms are defined in Section 1445 of the Internal Revenue Code. 9.4 ProceedinLs. There is no action, litigation, investigation, condemnation or proceeding of any kind pending or threatened against Seller or any portion of the Property. 9.5 Wells. The Seller certifies and warrants that the Seller does not know of any "Wells" on the Land within the meaning of Minn. Stat. § 103I. This representation is intended to satisfy the requirements of that statute. 9.6 Sewage Treatment System Disclosure. For the purposes of satisfying any applicable requirements of Minn. Stat. § 115.55, Seller discloses and certifies that: a) Seller has no knowledge of the existence of an abandoned individual sewage treatment system on the Land. Except as herein expressly stated, Buyer is purchasing the Property based upon its own investigation and inquiry and is not relying on any representation of Seller or other person and is agreeing to accept and purchase the Property "as is, where is" subject to the conditions of examination herein set forth and the express warranties herein contained. 10. Casualty Condemnation. If all or any part of the Real Property is substantially damaged by fire, casualty, the elements or any other cause, Seller shall immediately -s-