7.2. HRSR 06-04-2018 - Laserfiche WebLink

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6. Real Estate Taxes and Special Assessments. Real estate taxes payable in the year of closing will be prorated between the Buyer and the Seller to the Closing Date. The Seller shall pay all real estate taxes payable in previous years. The Buyer shall pay 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 Buyer also agrees 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 taxes 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 July 2, 2018. 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. Possession/Utilities/Removal of Property/Escrow. (a) Possession. The Seller agrees to deliver possession of the Property not later than the Closing Date. (b) Utilities. City water and sewer charges, electricity and natural gas charges, fuel oil and liquid petroleum gas shall be pro-rated between the parties as of the Closing Date. The Seller shall arrange for final readings as of the Closing Date. (c) Fixtures and Materials. The Seller shall have the opportunity to salvage any fixtures or materials from the building on the Property provided that the building is left secure and provided that the removal does not create any hazardous conditions. The Seller assumes all risk in undertaking any salvage operations. The Seller shall pay for all costs of salvage operations in full prior to closing and shall not permit the attachment of any lien or encumbrance on the Property as a result of this or other work thereon. (d) Personal Property and Debris. The Seller must remove all debris and personal property not included in this sale, including, all furniture from the Property prior to closing. The Seller is not required to remove any window treatments or appliances. The Buyer may inspect the Property immediately prior to closing in order to ensure that removal of all debris and personal property has been completed. (e) Escrow. In the event that removal of debris and personal property has not been completed by the Seller at closing, the Buyer may require that funds be retained from the purchase price for the Property as an escrow for payment of the estimated cost of debris and personal property removal and disposal charges. The Buyer may also require that funds be retained from the purchase price for payment of utility charges. The retained amount(s), less deductions provided for this in paragraph 8, will be delivered to the Seller no later than 60 days 4 525527v2 SJS EL185-48