4.6. SR 12-19-2016 - Laserfiche WebLink

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5. DEED/MARKETABLE TITLE. Upon performance by Buyer, Seller shall execute and deliver a-Warranty Deed conveying title subject to: (A) Building and zoning laws, ordinances, state and federal regulations; (B) Reservation of any mineral rights by the State of Minnesota; (C) Utility and drainage easements which are of record or permitted by the improvements;, (D) The following exceptions to title which constitute encumbrances or restrictions which have been disclosed to Buyer and accepted by Buyer in this Purchase Agreement (must be specified in writing): I) The land is encumbered by the unrecorded right of access by property identified by Property Identification Number 75-132-2426; (E) The County of Sherburne has a lease agreement with the Sherburne County Agricultural Society who in turn has a limited leasehold interest in the billboard and access to the billboard attached as Exhibit C. The County shall procure a quit claim deed releasing the Sherburne County Agricultural Society's interest in the lands being sold as well as the billboard. 6. REAL ESTATE TAXES AND SPECIAL ASSESSMENTS. Buyer shall pay real estate taxes due and payable in the year following closing and thereafter and any unpaid special assessments payable therewith and thereafter, the payment of which is not otherwise provided for herein. There are presently no real estate taxes on the land as it is held in the name of the Seller who is a governmental agency. When the lands are transferred to an entity that is not tax exempt, then the non-tax exempt entity shall be responsible for any future imposition of real estate taxes. There are no special assessments ordered, pending or levied against the lands. Any special assessments levied against the land subsequent to the date of the purchase agreement shall be the responsibility of the Buyer. As of the date of this Agreement, Seller represents that Seller has not received a Notice of Hearing of a new public improvement project from any governmental assessing authority, the costs of which project may be assessed against the property. Seller makes no representation concerning the amount of future real estate taxes or of future special assessments.