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d. Buyer will be responsible for all amounts of real estate taxes and special <br /> assessments which are due and payable from and after the Date of Closing. <br /> 15. Seller's Representations. Seller makes the following representations to Buyer: <br /> a. Seller represents that, to the best of Seller's actual knowledge, there is no <br /> action, litigation, governmental investigation, condemnation or administrative proceeding <br /> of any kind pending against Seller with respect to the Property or otherwise involving any <br /> portion of Property, and no third party has threatened Seller with commencement of any <br /> such action, litigation, investigation, condemnation or administrative proceeding. <br /> b. Seller represents that, to the best of Seller's actual knowledge, there are no <br /> wells located on the Property. <br /> C. Seller represents that, to the best of Seller's actual knowledge, there are no <br /> underground or above ground storage tanks of any size or type located on the Property. <br /> d. Seller represents that, to the best of Seller's actual knowledge, there are no <br /> Hazardous Substances located on the Property; the Property is not subject to any liens or <br /> claims by government or regulatory agencies or third parties arising from the release or <br /> threatened release of Hazardous Substances in, on or about Property; and Property has <br /> not been used in connection with the generation, disposal, storage, treatment or <br /> transportation of Hazardous Substances. For purposes of this Agreement, the term <br /> "Hazardous Substance" includes but is not limited to substances defined as "hazardous <br /> substances," "toxic substances" or "hazardous wastes" in the Comprehensive <br /> Environmental Response Compensation Liability Act of 1980, as amended, 42 U.S.C. <br /> §9601, et seq., and substances defined as "hazardous wastes," "hazardous substances," <br /> "pollutants, or contaminants" as defined in the Minnesota Environmental Response and <br /> Liability Act, Minnesota Statutes, §115B.02. The term "hazardous substance" must also <br /> include asbestos, polychlorinated biphenyls, petroleum, including crude oil or any <br /> fraction thereof, petroleum products, heating oil, natural gas, natural gas liquids, liquified <br /> natural gas, or synthetic gas useable for fuel (or mixtures of natural gas and synthetic <br /> gas). <br /> If, at any time prior to the Date of Closing, Seller acquires actual knowledge of events, <br /> circumstances or facts which render the representations set forth in this Section 15 inaccurate in <br /> any respect, Seller must immediately notify Buyer, in writing. Buyer's acceptance of the deed <br /> described in Section 9 from Seller and payment of the Purchase Price to Seller with knowledge <br /> that one or more of the matters set forth above are not as represented constitutes Buyer's waiver <br /> or release of any claims due to such misrepresentation. <br /> 16. Buyer's Representations. Buyer hereby represents to Seller as follows: <br /> a. The individuals executing this Agreement on behalf of Buyer represent <br /> and warrant that they have the authority to execute this Agreement on behalf of Buyer <br /> 6 <br />