7.0. EDSR 08-08-2005 - Laserfiche WebLink

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(iii) execute and deliver to Buyer a non-foreign affidavit in recordable form containing such information as is required under IRC Section 1445(b)(2) and any regulations relating thereto; (iv) provide Buyer or the Title Company, as defined in Section 12,with the information necessary to complete a Minnesota Certificate of Real Estate Value; and (v) if not earlier provided to Buyer, provide Buyer with an executed Survey, as defined in Section 12; and (vi) 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, deferred or pending special assessments pursuant to the provisions of Section 14; the fee or commission Buyer owes to Buyer's Agent, as defined in Section 16(b), up to,but not in excess of, four percent of the Purchase Price; and one-half of the Title Company's fee to conduct and insure the closing of this transaction. b. Buyer must: (i) Authorize Seller to retain the Earnest Money and tender the balance of the Purchase Price to Seller pursuant to the provisions of Section 8(b) above; and (ii) Pay or provide evidence of payment of the following: the premium for Buyer's owner's policy of title insurance, if any; the charges for any endorsements to Buyer's title insurance policy that Buyer elects to purchase; the recording fee due upon the recording of 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; any fee or commission Buyer owes to Buyer's Agent in excess of four percent of the Purchase Price; and one-half of the Title Company's fee to conduct and insure the closing of this transaction. Notwithstanding anything contained in this Agreement to the contrary, including but not limited to the terms of Section 13, if (i) the actual Date of Closing has not occurred by September 30, 2005, and/or(ii) as of September 30, 2005, the City of Elk River has not completed its grading of the Property pursuant to the Preliminary Grading Plan for Northstar Business Park prepared by BDM Consulting Engineers, PLC, and dated July 19, 2005 (a copy of which is attached hereto as Exhibit B) so that on September 30, 2005, Buyer, its agents and contractors, will not have access to the Property to begin construction of the improvements according to the approved Plans, Buyer, in its sole discretion, may elect to extend the Date of Closing under this Agreement to August 31, 2006, or such earlier date as elected by Buyer, upon ten (10) days written notice by Buyer to the Seller, but in no event shall closing occur prior to the City of Elk River's 411 completion of the grading as described in Section 19(d) of this Agreement. 1787610v6 5