4.7. SR 07-01-2019 - Laserfiche WebLink

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Page 8 of 11 ____________ ____________ ____________ ____________ Initials Initials Initials Initials SELLER’S SELLER’S BUYER’S BUYER’S INITIALS __________ INITIALS ____________INITIALS ___________ INITIALS__________ (Date) ______________(Date)________________(Date)_______________ (Date)_____________ 21. SUBDIVISION OF LAND. If this sale constitutes or requires a subdivision of land owned by Seller, Seller shall pay all subdivision expenses and obtain all necessary governmental approvals. Seller warrants that the legal description of the real property to be conveyed has bee n or will be approved for recording as of the date of closing. 22. MINNESOTA LAW. This contract shall be governed by the laws of the State of Minnesota. 23. ADDITIONAL TERMS. ____X__ Buyer to secure financing at no cost to Seller. Seller shall contribute $1,500.00 to the payment of the total closing costs. This Purchase Agreement is subject to the Financing Contingency Addendum that is attached hereto. 24. NOTICE REGARDING PREDATORY OFFENDER NOTIFICATION: Information regarding the predatory offender registry and persons registered with the predatory offender registry under MN Statute §243.166 may be obtained by contacting the local law enforcement offices in the community where the property is located or the Minnesota Department of Corrections at (651) 361-7200, or from the Department of Corrections website at www.corr.state.mn.us. 25. PROPERTY INSPECTION. Buyer has been made aware of the availability of property inspections. Buyer □ Elects □ Declines to have the property inspection performed at Buyer’s expense. This Purchase Agreement □ IS □ IS NOT subject to an Inspection Contingency Addendum. If the answer is yes, see the attached Addendu m. 26. CONDITION OF THE REAL PROPERTY. A. Statutory Disclosure. Pursuant to Minnesota Statutes Sections 513.52 - 513.60, Seller must written disclosure [see (1) below], or Buyer must have received an inspection report [see (2) below], or provide a Buyer and Seller may waive the written disclosure requirements [see (3) below]. Minnesota Statutes Section 513.57, Subd. 2. LIABILITY. A seller who fails to make a disclosure as required by sections 513.52 to 513.60 and was aware of material facts pertaining to the real property is liable to the prospective buyer. A person injured by a violation of this section may bring a civil action and recover damages and receive other equitable relief as determined by the court. An action under this subdivision must be commenced within two years after the date on which the prospective buyer closed the purchase or transfer of the real property. [Select only one of these three:] ______ (1) Seller’s Disclosure. Seller has provided a written disclosure to Buyer. A copy of Seller’s disclosure is attached. Seller shall correct in writing any inaccuracies in the disclosure as soon as reasonably possible before closing.