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<br />. <br /> <br />damages hereunder to the other, and earnest money shall be refunded to Buyer or (ii) <br />Buyer may waive the title objections and proceed to close. <br /> <br />ARTICLE 7 - TAXES AND ASSESSMENTS <br /> <br />Sellers shall payor credit against the Purchase Price all Real Estate taxes, and all special <br />assessments levied or pending against the property. <br /> <br />Real Estate taxes due and payable in the year of closing shall be prorated between <br />Sellers and Buyer on. a calendar year basis to the Closing Date. <br /> <br />ARTICLE 8 - UTILITY CHARGES <br /> <br />Sellers shall payor credit on the Purchase price all utility charges and all charges for <br />services of any type furnished to the Real Estate by all governmental agencies, public <br />utilities and/or private utilities through the Closing Date. Seller warrants that all public <br />or private utilities are available at the property lines. <br /> <br />ARTICLE 9 - CONDITIONS TO CLOSING <br /> <br />Buyer's obligation to close this transaction is subject to the following conditions and <br />covenants: <br /> <br />. <br /> <br />A Buyer obtaining financing necessary to complete this transaction which includes <br />interim and permanent financing for land acquisition and building and equipment. <br /> <br />B. GOVERNMENTAL APPROVALS. Buyer receiving all City approvals to build a <br />Denny's Restaurant. <br /> <br />C. SURVEyS. Sellers, at Sellers' expense, obtaining a survey, and certified to Buyer <br />and the Title Company by a registered land surveyor licensed in the State of <br />Minnesota as having been prepared in accordance with the Minimum Standard Detail <br />Requirements for Land Surveys, as adopted by the American Land Title Association <br />and the American Congress on Surveying and Mapping in 1986, and bearing a legal <br />description, made by a licensed surveyor, showing the area, dimensions and location <br />of the Real Estate to the nearest monuments, streets, alleys or property, the location <br />of all improvements and encroachments, the location of all proposed and recorded <br />easements against or appurtenant to the Real Estate, and not disclosing any condition <br />rendering the Real Estate unusable, in the Buyer's reasonable judgement, for the <br />intended purpose of the Buyer. <br /> <br />. <br /> <br />D. SOIL TEST. Buyer at Buyer's option, shall have obtained, at Buyer's cost, borings, <br />percolation tests, toxic or hazardous substance tests and other test (collectively "Soil <br />Tests") showing that the Real Estate is satisfactory, in Buyer's reasonable judgment, <br />for building foundations and the construction, operation and financing of the <br />improvements which Buyer may wish to make. <br /> <br />4 <br />