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such appeal. If neither Buyer nor Seller terminates this Agreement pursuant to Section 18(b) or <br /> Section 19(b) and a District Court finds in favor of the party taking the appeal,this Agreement <br /> automatically terminates and Seller must return the Earnest Money to Buyer. <br /> 5. Purchase Price. The purchase price for the Property is Forty-One Thousand <br /> Three Hundred and 00/100 Dollars ($41,300) (the "Purchase Price"). Buyer will also pay for: <br /> (a)the cost of the appraisal, $1,750; (b)any legal or other fees associated with the sale of the <br /> property; and (c) any other costs and expenses allocated to Buyer herein below. <br /> 6. Earnest Money. Seller's execution of this Agreement acknowledges Buyer's <br /> deposit of earnest money in the amount of$5,000.00 (the"Earnest Money"). Buyer must deposit <br /> the Earnest Money with Seller. Seller may commingle the Earnest Money with other funds of <br /> Seller. Seller has no obligation to invest the Earnest Money. Earnest Money in the possession of <br /> Seller remains the property of Buyer until paid to Seller pursuant to Section 8 below or until <br /> Buyer defaults in the performance of Buyer's obligations under this Agreement and Seller <br /> terminates this Agreement pursuant to the provisions of Section 22 in which case Seller may <br /> retain the Earnest Money. If Seller defaults in the performance of Seller's obligations under this <br /> Agreement, Buyer may terminate this Agreement pursuant to the provisions of Section 22, and <br /> the Seller must return Earnest Money to Buyer. Seller must also return the Earnest Money to <br /> Buyer if Buyer terminates this Agreement pursuant to Section 13, Section 18 or Section 20 or if <br /> Seller terminates this Agreement pursuant to Section 19. Upon Seller's full performance of <br /> Seller's obligations under this Agreement, the Earnest Money must be delivered to Seller and <br /> applied towards payment of the Purchase Price pursuant to the provisions of Section 8(a) below. <br /> 7. Plans and Specifications. Intentionally left blank. <br /> 8. Payment Terms. Upon Seller's full performance of Seller's obligations under <br /> this Agreement, Buyer must: <br /> a. Authorize Seller to retain the Earnest Money; and <br /> b. Tender the balance of the Purchase Price to Seller in wire transferred <br /> funds. <br /> 9. Conveyance Terms. Upon Buyer's full performance of Buyer's obligations under <br /> this Agreement, Seller must execute and deliver to Buyer a Warranty Deed conveying fee title to <br /> the Property to Buyer subject only to: <br /> a. Building, zoning and subdivision statutes, laws, ordinances and <br /> regulations; <br /> b. Reservations of minerals or of mineral rights in favor of the State of <br /> Minnesota, if any; <br /> c. The lien of real estate taxes and special assessments not yet due and <br /> payable; and <br /> 2 <br />