5. EDSR 02-11-2013 - Laserfiche WebLink

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(ii) Pay or provide evidence of payment of the following: the premium for Buyer's owner's policy of title insurance, if any;the changes for any endorsements to Buyer's title insurance policy that Buyer elects to purchase;the recording fee due upon the recording the deed from Seller to Buyer;all costs associated with Buyer's financing,if any, including mortgagee's title insurance policy costs and premiums, if any,and one-half of Title's fee to conduct and insure the closing of this transaction. 12. Evidence of Title. Within ten(10)business days of the Effective Date,Seller must,at Seller's sole cost and expense,deliver to Buyer a commitment from Sherburne County Abstract and Title("Title")to issue an ALTA Form 2006 Owner's Policy of Title Insurance,in the amount of the Purchase Price, identifying Buyer as the proposed insured(the"Title Commitment")as well as any so called"Schedule B-II documents". 13. Examination of Title. Within five(5)business days of Buyer's receipt of the Title Commitment,Buyer may give Seller written notice of alleged defect(s) in the marketability of title to the Property and request that Seller make Seller's title marketable(an"Objection"). Any defect in the marketability of Seller's title to the Property which Buyer does not object to, in writing,within the time period set forth above,is a Permitted Encumbrance. Seller will cure any mortgages,judgments, liens or incurred or created by Seller at or before the Date of Closing. Seller may,but will have no obligation to,cure any other Objection. If any other Objections remain uncured on the Contingency Date(as defined in Section 18),then Buyer may: a. terminate this Agreement pursuant to the procedures set forth in Section 23 below;or b. notify Seller that Buyer waives Buyer's Objection. If Buyer waives Buyer's Objection,the matter giving rise to such Objection will be deemed a Permitted Encumbrance and the Parties must fully perform their obligations under this Agreement. If Buyer does not timely notify Seller of Buyer's election to terminate this Agreement pursuant to subsection(a)above,then Buyer will be deemed to have waived all Objections(that Seller is not required to cure)and closing will occur as scheduled. 14. Real Estate Taxes and Special Assessments. The Parties must pay the real estate taxes(which term,as used in this Agreement,must include service charges assessed against real property on an annual basis pursuant to Minnesota Statutes 429.101)and special assessments as follows: a. On or before the Date of Closing,Seller must pay the real estate taxes, installments of special assessments and any penalties and interest thereon that are due and payable with respect to the Property,on or before the Date of Closing; b. On or before the Date of Closing,Seller must pay or provide for the payment of all installments of special assessments levied or pending against the Property as of the Date of Closing, including installments of special assessments certified for payment with the current year's real estate taxes;and 4