5.7. SR 04-04-2011 - Laserfiche WebLink

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("MERLA") and the Minnesota Petroleum Tank Release Cleanup Act, Minn. Stat. § 115C. No above ground or underground tanks are located in or about the Property, or have been located under, in or about the Property and have subsequently been removed or filled. There are no known wells within the meaning of Minn. Stat. ~ 103L005 on the Property. Seller has disclosed to Buyer all environmental reports and studies with respect to the Property which are in Seller's possession. m. 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. n. Methamphetamine Disclosure. To the best of Seller's knowledge, methamphetamine production has not occurred on the Property. o. Lead Paint. Seller is not aware of any lead paint present in any of the structures on the Property. p. Designated Person. That Seller is not a "specially designated national and blocked person" on the most current list published by the U.S. Treasury Department Office of Foreign Asset Control; that Seller is not listed in the annex to, and is not otherwise subject to the provisions of, Executive Order No. 13224 (the "Executive Order"}; and that Seller is not acting on behalf of any person or entity that is listed in the annex to, or is otherwise subject to the provisions of the Executive Order; and 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. Each of the representations and warranties herein contained shall survive the Closing and delivery of the Warranty Deed. Other than the above representations, Buyer is relying on its own inspections and investigations, and Buyer is purchasing the Property with no warranty either expressed, implied or fitness for a particular purpose and is purchasing the property in an "as is" "where is" condition. 9. Buyer's Representations and Warranties. Buyer represents and warrants to Seller that Buyer has the requisite power and authority to enter into this Agreement and the Buyer's Closing Documents signed by Buyer. Buyer's Closing Documents will have been duly authorized by all necessary action on Buyer's part and will have been duly executed and delivered. Buyer's execution, delivery and performance of Buyer's Closing Documents does not conflict with or result in violation of any contract or agreement, or any judgment, order or decree of any court or arbiter to which Buyer is a party. Buyer's Closing Documents are Buyer's valid and binding obligations, and are enforceable in accordance with their terms. These warranties will survive Closing. GP:2945285 v4