5. EDSR 02-11-2013 - Laserfiche WebLink

Home Browse Search

d. Covenants,conditions,restrictions,easements,encumbrances or other defects in title which are disclosed by the Evidence of Title,as defined in Section 12,and which are not the subject of an Objection,as defined in Section 13,or which are the subject of an Objection that Buyer has waived pursuant to the provisions of Section 13(b). (hereinafter,collectively,the"Permitted Encumbrances"). 10. Possession. Upon Buyer's full performance of Buyer's obligations under this Agreement,Seller must deliver possession of the Property to Buyer. 11. Closing. The Parties must meet at the offices of Seller at 13065 Orono Parkway, Elk River,Minnesota at 9:30 a.m.,on March 12,2013,or at such other place or other date as the Parties may establish by written agreement(the"Date of Closing"),at which time: a. Seller must: (i) execute and deliver to Buyer the deed described in Section 9 above. Seller will include on the deed the statement"The Seller certifies that the Seller does not know of any wells on the described real property." (ii) execute and deliver to Buyer and Buyer's title insurer, if any,an Affidavit by Seller indicating that on the date of Closing there are no outstanding, unsatisfied judgments,tax liens,or bankruptcies against or involving the Property; that there has been no skill, labor,or material furnished to the Property for which payment has not been made or for which mechanics' liens could be filed;and there are no other unrecorded interests in the Property,together with whatever standard owner's affidavit as may be reasonably required by the Buyer's title insurer; (iii) execute and deliver to Buyer a non-foreign affidavit in recordable form containing such information as required under IRC Section 1445(b)(2)and any regulations relating there to; (iv) provide Buyer or Title,as defined in Section 10 with the information necessary to complete a Minnesota Certificate of Real Estate Value; and (v) pay or provide evidence of payment of the following: the cost of providing the Evidence of Title as defined in Section 12;the State Deed Tax due upon the execution of the deed described in Section 9;real estate taxes and, if applicable, levied or pending special assessments pursuant to the provisions of Section 14;and one-half of Title's fee to conduct and insure the closing of this transaction. b. Buyer must: (i) Tender the Purchase Price to Seller pursuant to the provisions of Section 6 above;and 3