4.2. ERMUSR 09-11-2012 - Laserfiche WebLink

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PURCHASE AGREEMENT 129. Page Date 08/29 /12 130. Property located at 1639 Main St 131. SUBDIVISION OF LAND: If this sale constitutes or requires a subdivision of land owned by Seller, Seller shall pay 132. all subdivision expenses and obtain all necessary governmental approvals. Seller warrants that the legal description 133. of the real property to be conveyed has been or shall be approved for recording as of the date of closing. Seller warrants 134. that the buildings are or shall be constructed entirely within the boundary lines of the property. Seller warrants that 135. there is a right of access to the property from a public right -of -way. These warranties shall survive the delivery of the 136. deed or contract for deed. 137. MECHANIC'S LIENS: Seller warrants that prior to the closing, payment in full will have been made for all labor, materials, 138, machinery, fixtures or tools furnished within the 120 days immediately preceding the closing in connection with 139. construction, alteration or repair of any structure on, or improvement to, the property. 140. NOTICES: Seller warrants that Seller has not received any notice from any governmental authority as to condemnation 141. proceedings, or violation of any law, ordinance or regulation. If the property is subject to restrictive covenants, Seller 142. warrants that Seller has not received any notice from any person or authority as to a breach of the covenants. Any 143. such notices received by Seller shall be provided to Buyer immediately. 144. DIMENSIONS: Buyer acknowledges any dimensions, square footage or acreage of land or improvements provided 145. by Seller or broker may be approximate. Some information may have been provided by third parties and information 146. may be reliable but not guaranteed. Buyer shall verity the accuracy of information to Buyer's satisfaction, if material, 147. at Buyer's sole cost and expense. 148. ACCESS: Seller agrees to allow reasonable access to the property for performance of any surveys or inspections 149. agreed to herein. 150. RISK OF LOSS: If there is any loss or damage to the property between the date hereof and the date of closing for any 151. reason, including fire, vandalism, flood, earthquake or act of God, the risk of loss shall be on Seller. If the property 152. is destroyed or substantially damaged before the closing date, this Purchase Agreement is canceled, at Buyer's option, 153. by written notice to Seller or licensee representing or assisting Seller. If Buyer cancels this Purchase Agreement, 154. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said cancellation and 155. directing all earnest money paid hereunder to be refunded to Buyer. 156. TIME OF ESSENCE: Time is of the essence in this Purchase Agreement. 157. ENTIRE AGREEMENT. This Purchase Agreement, any attached exhibits and any addenda or amendments signed 158. by the parties shall constitute the entire agreement between Seller and Buyer and supersedes any other written or 159. oral agreements between Seller and Buyer. This Purchase Agreement can be modified or canceled only in writing 160. signed by Seller and Buyer or by operation of law. The parties agree the electronic signature of any party on any document 161. related to this transaction constitute valid, binding signatures. All monetary sums are deemed to be United States 162. currency for purposes of this Purchase Agreement. Buyer or Seller may be required to pay certain closing costs, which 163. may effectively increase the cash outlay at closing or reduce the proceeds from the sale. 164. FINAL ACCEPTANCE: To be binding, this Purchase Agreement must be fully executed by both parties and a copy 165. must be delivered. 166. CALCULATION OF DAYS: Any calculation of days begins on the first day (calendar or Business Days as specified) 167. following the occurrence of the event specified and includes subsequent days (calendar or Business Days as specified) 168. ending at 11:59 P.M. on the last day. 169. BUSINESS DAYS: "Business Days" are days which are not Saturdays, Sundays or state or federal holidays unless 170. stated elsewhere by the parties in writing. 171. DEFAULT: If Buyer defaults In any of the agreements hereunder, Seller may terminate this Purchase Agreement 172. under the provisions of MN Statute 559.21. If either Buyer or Seller defaults in any of the agreements hereunder or 173. there exists an unfulfilled condition after the date specified for fulfillment, either party may cancel this Purchase 174. Agreement under MN Statute 559.217, Subd. 3. Whenever it is provided herein that this Purchase Agreement is 175. canceled, said language shall be deemed a provision authorizing a Declaratory Cancellation under MN Statute 559.217, 176. Subd.4. 177. If this Purchase Agreement is not canceled or terminated as provided hereunder, Buyer or Seller may seek actual 178. damages for breach of this Purchase Agreement or specific performance of this Purchase Agreement; and, as to 179. specific performance, such action must be commenced within six (6) months after such right of action arises. MN:PA -4 (8/11) i ser