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<br />. <br /> <br />E. TITLE INSURANCE. Buyer at Buyer's option, shall have obtained a satisfactory <br />title insurance commitment or preliminary title report in accordance with Article 5 <br />above. <br /> <br />F. ENVIRONMENTAL AUDIT AND TESTING. At Buyer's option, Buyer at its <br />costs, shall have obtained a satisfactory Phase I Environmental Audit of the Real <br />Estate and any other environmental testing which Buyer deems reasonably necessary <br />to evaluate potential environmental risks. If such audit or tests reveal the existence <br />of any toxic or hazardous wastes, material or substance on or under the Real Estate, <br />Buyer may terminate this Contract. <br /> <br />G. SELLER'S PERMORMANCE. Sellers shall have performed all terms, covenants <br />and obligations required of Sellers hereunder. <br /> <br />All action taken by or on behalf of Buyer pursuant to this Article 10 shall be in <br />accordance with all applicable laws,. rules and regulations of the appropriate <br />governmental authorities having jurisdiction. Buyer shall indemnify, defend and hold <br />Sellers harmless o~ from and against all claims, causes of action losses of whatsoever <br />kind or nature, including but not limited to, all liability by reason of injury (including <br />death) to persons and damage to any property and mechanics' liens or similar charges <br />which may affect the Real Estate resulting from the entry onto the Real Estate or work <br />conducted thereon by or on behalf of Buyer. <br /> <br />. ARTICLE 10 - EARNEST MONEY <br /> <br />Buyer will deposit with Riverdale Realty, Ltd. as Escrow Agent, the sum of Five <br />Thousand and No/lOO ($ 5,000.00), which Buyer and Sellers agree shall be held in trust. <br />At the closing the Earnest Money, shall be credited or returned to Buyer. If this Contract <br />is terminated for any reason other than Buyer's default the Earnest Money shall be <br />returned to the Buyer. <br /> <br />ARTICLE 11- NOTICES <br /> <br />Unless otherwise provided herein, all notices shall be in writing and shall be deemed <br />effective on the earlier of either (a) personal delivery or (b) deposit in the U.S. Mail, <br />marked certified or registered, return receipt requested, with postage prepaid as follows: <br /> <br />To Sellers: <br /> <br />City of Elk River <br />13065 Orono Parkway <br />Elk River, MN <br /> <br />To Buyer: <br /> <br />Yuns Restaurant, Inc. <br />6405 James Circle North <br />Brooklyn Center, MN 55430 <br /> <br />. <br /> <br />5 <br />