8.1. SR 07-01-2019 - Laserfiche WebLink

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respective properties to the condition they were in prior to any such examination, immediately after conducting said examination. Subject to the limitation of liability under Minnesota Statutes ch.466, the City and District shall indemnify, defend, and hold harmless each other from any and all claims for injury or death to persons, damage to property or other losses or damages or claims, including, in each instance, reasonable attorney's fees and litigation costs, arising out of the action of any person or firm entering upon the respective properties, which indemnity will survey the Closing and the termination of this Agreement without the Closing having occurred. 6. TITLE EXAMINATION. Title Examination will be conducted as follows: (a) Title Evidence. The City and District as soon as possible after the date of this Agreement, furnish the following (collectively, "Title Evidence") to the other party for the property being transferred by them under this Agreement: (i) Title Commitment. A Commitment for Title Insurance issued by First American Title Insurance Company ("Title Company") for the respective properties including proper searches covering bankruptcies and state and federal judgments, federal court judgment liens in favor of the U.S., liens, and levied and pending special assessments. (b) Title Objections. The City and District shall have 10 business days after receipt of the Title Commitment from the other party to provide the other party with written objections to the commitment. The City and the District shall be deemed to have waived any title objections not made within the 10-day period above, except that this shall not operate as a waiver of either party's covenant to deliver a Deed under this Agreement. (c) Title Corrections and Title Remedies. The City and the District shall have 60 days from receipt of written title objections by the other party to make title marketable for their respective property. Upon receipt of title objections, each party shall, within ten (10) business days, to notify the other of their intention to make title marketable within the 60-day period. Liens or encumbrances for liquidated amounts that can be released by payment or escrow from proceeds of closing shall not delay the closing. Cure of the defects by either party shall be reasonable, diligent and prompt. Pending correction of title, all payments required herein and the Closing shall be postponed. (d) If notice is given and either party makes title marketable, then upon presentation to the other party of documentation establishing that title has been made marketable, and if not objected to in the same time and manner as the original title objections, the closing shall take place within ten (10) business days or on the scheduled Closing Date, whichever is later. (e) If notice is given and either party proceeds in good faith to make title marketable but the 60 day period expires without title being made marketable, the other party 2oi97ovs 3