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Page 9 of 11 <br /> <br />____________ ____________ ____________ ____________ <br /> Initials Initials Initials Initials <br /> <br /> <br />Minnesota Statutes Section 513.55. GENERAL DISCLOSURE REQUIREMENTS. <br />Subdivision 1. CONTENTS. <br />(a) Before signing an agreement to sell or transfer residential real property, the seller <br />shall make a written disclosure to the prospective buyer. The disclosure must <br />include all material facts of which the seller is aware that could adversely and <br />significantly affect: <br />(1) an ordinary bu yer's use and enjoyment of the property; or, <br />(2) any intended use of the property of which the seller is aware. <br />(b) The disclosure must be made in good faith and based upon the best of the seller's <br />knowledge at the time of the disclosure. <br /> <br /> Minnesota Statutes Section 513.58. AMENDMENT TO DISCLOSURE. <br />Subdivision 1. NOTICE. A seller must notify the prospective buyer in writing as <br />soon as reasonably possible, but in any event before closing, if the seller learns that <br />the seller's disclosure required by Section 513.55 was inaccurate. <br /> <br />Subdivision 2. FAILURE TO NOTIFY; LIABILITY. A seller who fails to notify <br />the prospective buyer of any amendments to the initial disclosure required under <br />subdivision 1 is liable to the prospective buyer as provided in Section 513.57. <br /> <br />_____ (2) Inspection Report. Bu yer has received an inspection report by a qualified third- <br />part y. If a copy of the inspection report is provided to Seller, Seller shall disclose to <br />Bu yer material facts known to Seller that contradict any information in the <br />inspection report. <br /> <br />Minnesota Statutes Section 513.56 Subd. 3. INSPECTIONS. <br />(a) Except as provided in paragraph (b), a seller is not required to disclose information <br />relating to the real property if a written report that discloses the information has been <br />prepared by a qualified third party and provided to the prospective bu yer. For <br />purposes of this paragraph, "qualified third party" means a federal, state, or local <br />governmental agency, or any person whom the seller, or prospective buyer, <br />reasonably believes has the expertise necessary to meet the industry standards of <br />practice for the type of inspection or investigation that has been conducted by the <br />third party in order to prepare the written report <br /> <br />(b) A seller shall disclose to the prospective buyer material facts known by the seller <br />that contradict any information included in a written report under paragraph (a) if a <br />copy of the report is provided to the seller. <br /> <br />_____ 3) Waiver of Disclosure <br />Minnesota St atutes Section 513.60. WAIVER. The written disclosure required under Sections <br />513.52 to 513.60 may be waived if the seller and the prospective bu yer agree in writing. Waiver <br />of the disclosure required under Sections 513.52 to 513.60 does not waive, limit, or abridge any <br />obligation fo r seller disclosure created by any other law. <br />Seller and Buyer waive the written disclosure required under Sections 513.52 to 513.60. <br /> <br /> SELLER: ____________________________ BUYER: ______________________________ <br /> <br /> SELLER: ____________________________ BUYER: ______________________________