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09/01/00 14:15 FAX LC8500 018 <br /> Q <br /> �i <br /> • <br /> the holder of an approved mortgage, provided that Seller determine <br /> its reasonable judgment, that tie interests of the Seller under this <br /> Agreement remain adequately protected. <br /> i� <br /> f. Upon completion othonstruction of the Building, Buyer shall <br /> convey fee title to the Property t4 Equity Management, Inc., the recipient <br /> of certain subsidy assistance from Seller <br /> ed August ant 28, 10 2000 that certain <br /> Performance/Assistance Agreement <br /> Seller and Equity ManagemeS�rulic. Buyer of the Bulilding've no thereon,ore fortthe <br /> $1.00, plus the cost of construction <br /> conveyance of the Property to Equity Management, Inc. <br /> g. Seller may extend the time to comply with the conditions set <br /> forth above if the Buyer has good;cause for requesting said extension. <br /> 8. <br /> Real Estate Taxes. Rea estate taxes due and payable in 1999 and all <br /> . prior years, if any, shall be paid by Seller. Real estate taxes due and payable in 2000, <br /> if any, shall be prorated as of the Closing Date based upon the parties' respective <br /> • period of ownership and possession of he Property in the calendar year of closing. On <br /> or prior to the Closing Date, Seller shall pay all special assessments, whether or not <br /> then due, then levied against the Property. Sellershallpay on the date of closing any <br /> deferred real estate taxes, including "G`.reen Acres" taxes, or special assessments, the <br /> payment of which is required as a result of the closing. Seller makes no representation <br /> concerning the amount of future real estate taxes or future special assessments. <br /> 9. Expenses, Possession. Seller agrees to deliver possession of the <br /> Property to Buyer on the Closing Date. In the event Buyer chooses to obtain title <br /> insurance or in the event Buyer's lender requires the issuance of title insurance, Buyer <br /> shall be responsible for any costs associated with closing with a title company including, <br /> but not limited to, the closing fee and fall premiums for issuance of either the owner's <br /> policy or the lender's policy of title insurance. <br /> 10. Notices. All documents to be delivered and all correspondence and <br /> notices to be given in connection with this Purchase Agreement shall be in writing and <br /> given by personal delivery or sent by registered or certified mail, return receipt <br /> requested, postage prepaid, addressed as follows: <br /> If to Buyer. Rivers Crosising, Inc. <br /> P.O. Box 57 <br /> Elk River, MN 55330 <br /> • Attn: Gary Saniwire <br /> • <br /> -5- <br />