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226. Property located at COMMERCIAL PURCHASE AGREEMENT 225. Page 6 Date February 2nd 2021 413 Proctor Avenue NW Elk River 55330 227. DISCLOSURE NOTICE: If this Purchase Agreement includes a structure used or intended to be used as residential 228. property as defined under MN Statute 513.52, Buyer acknowledges Buyer has received a Disclosure Statement: 229. Seller's Property Disclosure Statement or Disclosure Statement: Seller's Disclosure Alternatives form. 230. BUYER IS NOT RELYING ON ANY ORAL REPRESENTATIONS REGARDING THE CONDITION OF THE PROPERTY. 231. (Check appropriate boxes.) 232. SELLER WARRANTS THAT THE PROPERTY IS EITHER DIRECTLY OR INDIRECTLY CONNECTED TO: 233. CITY SEWER ❑K YES ❑ NO / CITY WATER ❑K YES ❑ NO 234. SUBSURFACE SEWAGE TREATMENT SYSTEM 235. SELLER ❑ DOES K❑ DOES NOT KNOW OF A SUBSURFACE SEWAGE TREATMENT SYSTEM ON OR SERVING --------------(Check one.)------------ 236. THE PROPERTY. (If answer is DOES, and the system does not require a state permit, see Disclosure Statement: 237. Subsurface Sewage Treatment System.) 238. PRIVATE WELL 239. SELLER ❑ DOES K❑ DOES NOT KNOW OF A WELL ON OR SERVING THE PROPERTY. (If answer is DOES and well -----------(Check one.)------------- 240. is located on the Property, see Disclosure Statement: Well.) 241. To the best of Seller's knowledge, the Property ❑ IS ❑K IS NOT in a Special Well Construction Area. ------(Check one.)------ 242. THIS PURCHASE AGREEMENT ❑ IS K❑ IS NOT SUBJECT TO AN ADDENDUM TO PURCHASE AGREEMENT- ------ (Check one.)-------- 243. SUBSURFACE SEWAGE TREATMENT SYSTEM AND WELL INSPECTION CONTINGENCY. 244. (If answer is IS, see attached Addendum.) 245. IF A WELL OR SUBSURFACE SEWAGE TREATMENT SYSTEM EXISTS ON THE PROPERTY, BUYER HAS 246. RECEIVED A DISCLOSURE STATEMENT WELL AND/OR A DISCLOSURE STATEMENT SUBSURFACE SEWAGE 247. TREATMENT SYSTEM. 248. There ❑ IS ❑K IS NOT a storage tank located on the Property that is subject to the requirements of MN Statute 116.48. -----(Check one.)------ 249. (If answer is IS, see Commercial Disclosure Statement: Storage Tank(s).) 250 AGENCY NOTICE 251. Michael Sedley is ❑X Seller's Agent ❑ Buyer's Agent ❑ Dual Agent. (Licensee) ----------------------------------(Check one.)-------------------------------------- 252 253 IAG Commercial Real Estate (Real Estate Company Name) Sheila Zachman (Licensee) 254. Commercial Realty Solutions (Real Estate Company Name) is ❑ Seller's Agent ❑X Buyer's Agent ❑ Dual Agent. ----------------------------------(Check one.)-------------------------------------- 255. DUAL AGENCY DISCLOSURE: Dual agency occurs when one broker or salesperson represents both parties to a 256. transaction, or when two salespersons licensed to the same broker each represent a party to the transaction. Dual 257. agency requires the informed consent of all parties, and means that the broker or salesperson owes the same fiduciary 258. duties to both parties to the transaction. This role limits the level of representation the broker and salespersons can 259. provide, and prohibits them from acting exclusively for either party. In dual agency, confidential information about price, 260. terms, and motivation for pursuing a transaction will be kept confidential unless one party instructs the broker or 261. salesperson in writing to disclose specific information about him or her. Other information will be shared. Dual agents 262. may not advocate for one party to the detriment of the other. MNC:PA-6 (8/20) uup�n A mi e mota !',,, e fly ! l t aII"v l TRANSACTIONS 'll'mmoigncYl�andke,k ka3W-