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Corcoran, MN 55357 <br />Fax: (763) 498-9951 <br />Email: gebert@ebertconst.com <br />With a copy to: <br />If to Seller:City of Elk River <br />Attn: City Administrator <br />13065 Orono Parkway NW <br />Elk River, MN 55330-5600 <br />With a copy to: Kennedy& Graven, Chartered <br />Attn: Sarah Sonsalla <br />470 U.S. Bank Plaza <br />200 South Sixth Street <br />Minneapolis, MN 55402 <br />10.6 Further Assurances. Each party agrees that it will execute and deliver such other documents and <br />take such other action, whether prior or subsequent to Closing, as may reasonably be requested by the <br />other party, to further consummate the transaction contemplated by this Agreement, without further <br />consideration. <br />10.7 Termination. If this Agreement is terminated by either Purchaser or Seller pursuant to a right of <br />termination expressly set forth in this Agreement, neither party shall have any further rights or obligations <br />under this Agreement, except for the obligations concerning the Earnest Money and to the extent any <br />rights or obligations expressly survive such termination. <br />10.8 Time of Essence. Time is of the essence of this Agreement. <br />10.9 Calculation of Time Periods. Except as specifically set forth in this Agreement, in computing any <br />period of time described in this Agreement, the day of the act or event after which the designated period <br />of time begins to run is not to be included and the last day of the period so computed is to be included, <br />unless such last day is on a Saturday, Sunday or legal holiday, in which event the period shall run until <br />the end of the next business day following such Saturday, Sunday or legal holiday. As used herein, the <br />term "legal holiday" means any state or federal holiday for which financial institutions or post offices are <br />generally closed in the state where the Property is located. <br />10.10 Governing Law. This Agreement shall in all respects be interpreted, construed and enforced <br />according to the laws of the state where the Property is located. <br />10.11 Counterparts. This Agreement may be executed separately and independently in any number of <br />counterparts and each and all of which together shall be deemed to have been executed simultaneously <br />and regarded as one agreement dated the Effective Date. <br />10.12 Captions. The captions and headings contained in this Agreement are for convenient reference <br />only and shall not affect the interpretation of this Agreement. <br />Purchase Agreement Page 11 of 13 <br />469680v2 SJS EL185-36