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<br />any termination or statutory cancellation to the full extent necessary to protect Seller’s
<br />interests. If Seller defaults under this Agreement, Buyer shall have (1) the right to return
<br />of the entire $20,000 of the Earnest Money and (2) Buyer shall have all rights at law or in
<br />equity to correct, enjoin or remedy any breach hereof, including the right to seek specific
<br />performance.
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<br />20. Representations and Warranties of Seller. Seller hereby represents and warrants to Buyer
<br />now and as of the applicable closing date, as follows:
<br />
<br />(A) Hazardous Substances. That, to the best of Seller’s knowledge, no hazardous
<br />substances, as that term is defined herein, are located in, under or upon the Real
<br />Property and the Real Property has not been used for the generation, disposal,
<br />release, transportation or production of any Hazardous Substances. The Real
<br />Property has been used for farming purposes and farm chemicals, including
<br />fertilizers and pesticides, have been used on the Real Property in accordance with
<br />the manufacturer’s specifications.
<br />
<br />The term "Hazardous Substances" shall mean all substances, wastes, contaminants,
<br />pollutants and materials defined or designated as hazardous, extremely or
<br />imminently hazardous, dangerous or toxic pursuant to (i) any applicable statute,
<br />code, ordinance, rule, regulation, or policy of any local or state governmental
<br />authority within the State of Minnesota; (ii) Sections 307 and 311 of the Clean
<br />Water Act, as amended, 33 U.S.C. ee 1317, 132; (iii) Section 1004 of the Resource
<br />Conservation and Recovery Act, as amended, 42 U.S.C. 7412; (iv) Section 101 of
<br />the Comprehensive Environmental Response and Liability Act, as amended, 42
<br />U.S.C. 9601; (v) Section 112 of the Clean Air Act, as amended, 42 U.S.C. 7412;
<br />(vi) Section 7 of the Toxic Substances Control Act, as amended, 15 U.S.C. 2606;
<br />(vii) Sections 103 and 104 of the Hazardous Materials Transportation Act, as
<br />amended, 49 U.S.C. 1802, 1803, or (viii) regulations promulgated pursuant to any
<br />of the foregoing, and includes all substances, wastes, contaminants, pollutants, and
<br />materials defined, designated or identified as, or containing, polychlorinated
<br />biphenyl’s ("PCBs"), asbestos, or petroleum.
<br />
<br />(B) Authority. The City has fee simple title to the Real Property. The City has not
<br />entered into any other contract for the option, sale or other conveyance or transfer
<br />of any right, title or interest in the Real Property. There are no unrecorded interests
<br />in the Real Property and no tenants on the Real Property.
<br />Seller is a public body duly formed and in good standing under the laws of the State
<br />of Minnesota and is duly qualified to transact business in the State of Minnesota.
<br />Seller has the requisite power and authority to enter into and perform this
<br />Agreement and those closing documents to be signed by it; such documents have
<br />been (or will be prior to closing) duly authorized by all necessary entity action on
<br />the part of Seller and at the closing shall have been duly executed and delivered;
<br />the execution, delivery, and performance by Seller of such documents does not
<br />conflict with or result in a violation of Seller’s organizational documents, any
<br />judgment, order, or decree of any court or arbiter to which Seller is a party or any
<br />agreement by which Seller is bound; and such documents are and shall be valid and
<br />binding obligations of Seller, enforceable in accordance with their terms
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