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214273v12 2 <br />c. The balance pursuant to a Contract for Deed (Minnesota Uniform <br />Conveyancing Form No. 56-M), to be delivered by Purchaser to Seller at <br />closing. The principal balance of the Contract for Deed shall be amortized <br />over fifteen (15) years and shall be paid, together with interest thereon at <br />the rate of four (4%) percent per annum, from the date of closing as <br />follows: <br /> <br />(i) The annual payment of principal and interest shall be divided in <br />fifteen (15) equal installments and each installment shall be paid <br />by Purchaser to Seller on August 1st of each year beginning July, <br />2022. <br /> <br />(ii) The entire principal balance of the Contract for Deed, together <br />with all accrued interest thereon, shall be due and payable in full <br />on August 1, 2037. <br /> <br />(iii) Seller shall give Purchaser written notice of any intent on the part <br />of Seller to transfer or assign the Contract for Deed. <br /> <br /> 3. Allocation of Purchase Price. At the time of closing, Purchaser shall provide an <br />allocation of the purchase price among the following categories: <br /> <br /> Land <br /> Buildings and structures <br /> Land improvements <br /> Maintenance equipment, tools, furniture, and supplies <br /> Goodwill <br /> <br /> 4. Liabilities Assumed by Purchaser. Seller acknowledges that except for the <br />assumed obligations expressly assumed pursuant to Section 3 hereof, the Purchaser is not <br />assuming and shall not assume any other liability or obligation of Seller. <br /> <br />5. Title Examination. Seller, at its expense, shall within a reasonable time after the <br />execution of this Agreement, furnish a title insurance commitment in the full amount of the <br />purchase price issued by Land Title, Inc., certified to date to include proper searches covering <br />bankruptcies, state and federal judgments and liens, by which said company commits to issue its <br />policy of title insurance that insures that at closing Purchaser shall have good, marketable and <br />insurable title of record to the Property, free and clear of all liens, encumbrances, leases, claims <br />and charges (except permitted encumbrances). <br /> <br />Purchaser shall be allowed ten (10) business days after receipt of the title <br />commitment for examination of title and making any objections, which shall be made in writing <br />or deemed waived. If any objection is so made, Seller shall have ten (10) business days from <br />receipt of Purchaser’s written title objections to notify Purchaser of Seller’s intention to make <br />title marketable within one hundred twenty (120) days from Seller’s receipt of such written <br />objections. If notice is given, payments hereunder required shall be postponed pending correction