2022.03.07 CC Packet - Laserfiche WebLink

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(f) Extension of Due Diligence Period. Buyer shall be entitled to a one-time reasonable extension of the Due Diligence period to meet the contingencies outlined above in this Section 7. Prior to the expiration of the Due Diligence Period, Buyer shall provide Seller with written notice of: (1) its election to extend the Due Diligence Period and (2) the amount of time it needs to meet the contingencies in Section 7 not to exceed an additional sixty (60) days. 8. Closing Date and Closing Documents. (a) Closing Date. The closing (the “Closing”) shall take place at Title Company of Buyer’s Choosing within thirty (30) days of the end of the Due Diligence Period (“Closing Date”). Seller shall deliver possession of the Property on the Closing Date. (b) Closing Documents. Seller shall deliver or cause to be delivered to Buyer at the Closing all documents necessary or desirable to complete the transaction contemplated hereby, including but not limited to, the following: (i) Warranty Deed. A limited warranty deed conveying marketable title to Buyer, subject to the following exceptions: (a) building and zoning laws, ordinances and state and federal regulations; (b) utility and drainage easements which do not interfere with the Improvements; and (c) reservation of any mineral or mineral rights to the State of Minnesota; and (ii) Bill of Sale. A bill of sale conveying to Buyer all of Seller’s right, title and interest in and to any Personal Property included in the sale, free of any and all liens, encumbrances, restrictions or other matters affecting title thereto; and (iii) Easements. The Easement Agreements required by Section 16 hereof shall be delivered by Seller and Buyer in a mutually acceptable form. 9. Adjustments and Prorations. The following adjustments and prorations shall be made as of the Closing Date. (a) Taxes. Real Property taxes payable in the year of Closing shall be prorated to the Closing Date, with Seller responsible for the prorated costs prior to and including the Closing Date. Seller shall be responsible for special assessments levied or pending as of the Closing Date. (b) Utilities. All utilities in connection with the Property shall be prorated to the Closing Date.