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Escrow Terms: The Earnest Money is fully refundable to Buyer <br />through the due diligence period or in the event <br />of Seller default. <br />Conditions of Purchase: Buyer requires the following conditions to be <br />completed or waived within One Hundred <br />Twenty (120) days of an executed Purchase <br />Agreement (the "Due Diligence Period"). <br />A. Satisfactory conditions of title approved by Buyer. Seller to provide <br />title commitment. <br />B. Satisfactory conditions of an ALTA survey of the Property approved <br />by Buyer. Seller to provide any existing survey. Buyer to updated <br />survey. <br />C. In Buyers sole judgement, satisfactory environmental conditions <br />(Phase I and II if necessary) and property inspection. <br />D. Satisfactory governmental approvals for Buyers intended use and <br />plans. Buyers intended use will need a Conditional Use Permit from <br />the city of Elk River for outside Storage. Buyer intends on <br />constructing a +/- 20,000 sf industrial building with a small amount of <br />outside storage for trailer and equipment storage in a Business Park <br />Zoning. <br />E. Buyer to obtain suitable financing in a form and amount acceptable to <br />Buyer in its sole discretion. Buyer intends to apply for city incentives <br />through the Elk River Economic Development Authority. <br />Closing Date: Thirty (30) days after satisfaction of all <br />conditions. <br />Seller's Documentation: Seller shall supply, within ten (10) days after <br />execution of a purchase agreement all <br />significant documents about the Property, <br />including but not limited to surveys, plat, civil <br />plans, soils reports, environmental reports <br />(including all investigations performed on the <br />site in the last 5 years), and title work. The Due <br />Diligence period shall begin after delivery of <br />such documents. <br />Non -Shop: The Seller and its principle shareholders or <br />partners, employees, representatives or agents: <br />(1) will not initiate, encourage the initiation by <br />others of discussions or negotiations with third <br />parties or respond to solicitations with third <br />parties relating to the purchase of the Property <br />in whole or in part and (b) will not enter into <br />agreement with respect thereto with any third <br />party during the negotiation of the and <br />