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Authentlsign ID: eF1BF799-413A41A7-ABDC-EC91544EBDEB <br />COMMERCIAL PURCHASE AGREEMENT <br />225. Page 6 Date February 2nd 2021 <br />226. Property located at 413 Proctor Avenue NW _ _ _ Elk River 55330 <br />227. DISCLOSURE NOTICE: If this Purchase Agreement includes a structure used or intended to be used as residential <br />228. property as defined under MN Statute 513.52, Buyer acknowledges Buyer has received a Disclosure Statement: <br />229. Seller's Property Disclosure Statement or Disclosure Statement., Seller's Disclosure Alternatives form. <br />230. BUYER IS NOT RELYING ON ANY ORAL REPRESENTATIONS REGARDING THE CONDITION OF THE PROPERTY. <br />231. (Check appropriate boxes.) <br />232. SELLER WARRANTS THAT THE PROPERTY IS EITHER DIRECTLY OR INDIRECTLY CONNECTED TO: <br />233. CITY SEWER 0 YES ❑ NO / CITY WATER ❑R YES ❑ NO <br />234. SUBSURFACE SEWAGE TREATMENT SYSTEM <br />235. SELLER ❑ DOES )C❑ DOES NOT KNOW OF A SUBSURFACE SEWAGE TREATMENT SYSTEM ON OR SERVING <br />---------------(Check one.)------------ <br />236. THE PROPERTY. (If answer is DOES, and the system does not require a state permit, see Disclosure Statement: <br />237. Subsurface Sewage Treatment System.) <br />238. PRMTIEl�f EU <br />239. SELLER ❑ DOES n DOES NOT KNOW OF A WELL ON OR SERVING THE PROPERTY. (If answer is DOES and well <br />-------------(Check one.)------------- <br />240. is located on the Property, see Disclosure Statement. Well.) <br />241. To the best of Seller's knowledge, the Property ❑ IS ❑K IS NOT in a Special Well Construction Area. <br />-------(Check one.)------ <br />242. THIS PURCHASE AGREEMENT ❑ IS ❑tC IS NOT SUBJECT TO AN ADDENDUM TO PURCHASE AGREEMENT <br />------(Check one.)-------- <br />243. SUBSURFACE SEWAGE TREATMENT SYSTEM AND WELL INSPECTION CONTINGENCY. <br />244. (If answer is IS, see attached Addendum.) <br />245. IF A WELL OR SUBSURFACE SEWAGE TREATMENT SYSTEM EXISTS ON THE PROPERTY, BUYER HAS <br />246. RECEIVED A DISCLOSURE STATEMENT- WELL AND/ORA DISCLOSURE STATEMENT SUBSURFACE SEWAGE <br />247. TREATMENT SYSTEM. <br />248. There ❑ IS 0 IS NOT a storage tank located on the Property that is subject to the requirements of MN Statute 116.48. <br />--(Check one.)------ <br />249. (If answer is IS, see Commercial Disclosure Statement., Storage Tank(s).) <br />250. <br />251. <br />252. <br />253. <br />254. <br />255. <br />256. <br />257. <br />258. <br />259. <br />260. <br />261. <br />262. <br />Michael Sedley <br />(Licensee) <br />IAG Commercial Real Estate <br />(Real Estate Company Name) <br />Sheila Zachman <br />(Licensee) <br />Commercial Realty Solutions <br />(Real Estate Company Name) <br />AGENCY NOTICE <br />is ❑7c Seller's Agent ❑ Buyer's Agent ❑ Dual Agent. <br />----------------------------------(Check one.J-------------------------------------- <br />is ❑ Seller's Agent ❑9_ Buyer's Agent ❑ Dual Agent. <br />---------- - -- -- -- (Check one.) ----------------------------------- <br />DUAL AGENCY DISCLOSURE: Dual agency occurs when one broker or salesperson represents both parties to a <br />transaction, or when two salespersons licensed to the same broker each represent a party to the transaction. Dual <br />agency requires the informed consent of all parties, and means that the broker or salesperson owes the same fiduciary <br />duties to both parties to the transaction. This role limits the level of representation the broker and salespersons can <br />provide, and prohibits them from acting exclusively for either party. In dual agency, confidential information about price, <br />terms, and motivation for pursuing a transaction will be kept confidential unless one party instructs the broker or <br />salesperson in writing to disclose specific information about him or her. Other information will be shared. Dual agents <br />may not advocate for one party to the detriment of the other. <br />MNC:PA-6 (8/20) Minnesota <br />gRealtorsO <br />TRANSACTIONS <br />T.,.,onDetk Edition <br />