4.4. SR 08-07-2107 - Laserfiche WebLink

Home Browse Search

the Property. The Sellers further warrant that the Sellers have no knowledge or information of any fact which would indicate the Property was used for production, storage, deposit or disposal of any toxic or hazardous waste or substance, petroleum product or asbestos product prior to the date the Sellers purchased the Property. Notwithstanding the above, the Sellers' warranty regarding petroleum products does not preclude the presence of heating oil or other similar products used as a heating fuel for the dwelling but the Sellers do warrant that if there was a fuel tank on the Property used for the storage of heating oil or other similar product, the Sellers have no knowledge of any leak in the tank or contamination caused thereby. The Sellers hereby grants to the Buyer and the Buyer's agents a license to enter and evaluate the Property for the purpose of conducting an environmental assessment. Further, the Buyer or the Buyer's agent shall have the right pursuant to the license to bring persons and equipment onto the Property, make inspections and perform tests and analyses as the Buyer may deem reasonable to determine the presence of any toxic or hazardous waste, substance, or petroleum product or asbestos product, and ascertain soil conditions on the Property. The Buyer shall bear the cost of the environmental assessment. If the results of the environmental assessment are not to the satisfaction of the Buyer, the Buyer at its sole discretion may cancel this Agreement. If the Buyer cancels this Agreement pursuant to this provision, the Buyer shall restore the Property to its original condition or nearly so as is reasonably practicable. 6. Real Estate Taxes and Special Assessments. Real estate taxes payable in the year of closing will be pro -rated between the Buyer and the Sellers to the Closing Date. The Sellers shall pay all real estate taxes payable in previous years, the entire unpaid balance of special assessments, and all installments of special assessments levied and pending, including special assessments installments payable after the year of closing. The Sellers also agree to pay all assessments related to service charges furnished to the Property prior to the Closing Date (e.g., delinquent water or sewer bills, removed or diseased trees), including those charges levied, pending, or certified to taxes payable in the year of closing. If closing occurs prior to the date the amount of real estate tares due in the year of closing are available from Sherburne County, the current year's taxes will be prorated based on the amount due in the prior year. 7. Closing Date. The Closing Date will be on or before September 1, 2017. Delivery of all papers and the closing shall be made at the offices of Buyer, 13065 Orono Parkway, Elk River, MN 55330, or at such other location as is mutually agreed upon by the parties. All deliveries and notices to the Buyer shall be made to the above address and marked to the attention of Amanda Othoudt. 8. Possessio tilities/Removal of Property/Escrow. (a) Possession. Possession of the undeveloped portion of the Property will be delivered at closing. The Buyer agrees to enter into a lease agreement at closing with the Sellers to allow the Sellers to use house on the Property until September 15, 2017 and the shop on the Property until November 1, 2017. The Sellers understand and agree that the lease will require that the Sellers maintain property damage and liability insurance on the Property and adding the Buyer to the certificate of insurance as an additional insured and will also require that the Buyer be able to enter the Property upon providing reasonable notice. The Buyer agrees that it will not. 5033260 JSB EL185-52