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INJURY OR DAMAGE OCCURRING ON THE PROPERTY.
<br />(a) LIABILITY. Seller shall be free from liability and claims for damages by reason of injuries occurring on or after the
<br />date of this Contract to any person or persons or property while on or about the Property. Purchaser shall defend and
<br />indemnify Seller from all liability, loss, cost and obligations, including reasonable attorneys' fees, on account of or
<br />arising out of any such injuries. However, Purchaser shall have no liability or obligation to Seller for such injuries
<br />which are caused by the negligence or intentional wrongful acts or omissions of Seller.
<br />(b) LIABILITY INSURANCE. Purchaser shall, at Purchaser's own expense, procure and maintain liability insurance
<br />against claims for bodily injury, death and property damage occurring on or about the Property in amounts
<br />reasonably satisfactory to Seller and naming Seller as an additional insured.
<br />10. INSURANCE GENERALLY. The insurance which Purchaser is required to procure and maintain pursuant to paragraphs 7
<br />and 9 of this Contract shall be issued by an insurance company or companies licensed to do business in the State of
<br />Minnesota and acceptable to Seller. The insurance shall be maintained by Purchaser at all times while any amount remains
<br />unpaid under this Contract. The insurance policies shall provide for not less than ten days' written notice to Seller before
<br />cancellation, non-renewal, termination or change in coverage, and Purchaser shall deliver to Seller a duplicate original or
<br />certificate of such insurance policy or policies.
<br />11. CONDEMNATION. If all or any part of the Property is taken in condemnation proceedings instituted under power of
<br />eminent domain or is conveyed in lieu thereof under threat of condemnation, the money paid pursuant to such condemnation
<br />or conveyance in lieu thereof shall be applied to payment of the amounts payable by Purchaser under this Contract, even if
<br />such amounts are not then due to be paid. Such amounts shall be applied in the same manner as a prepayment as provided in
<br />paragraph 5 of this Contract. Such payments shall not postpone the due date of the installments to be paid pursuant to this
<br />Contract or change the amount of such installments. The balance, if any, shall be the property of Purchaser.
<br />12. WASTE, REPAIR AND LIENS. Purchaser shall not remove or demolish any buildings, improvements or fixtures now or
<br />later located on or a part of the Property, nor shall Purchaser commit or allow waste of the Property. Purchaser shall maintain
<br />the Property in good condition and repair. Purchaser shall not create or permit to accrue liens or adverse claims against the
<br />Property which constitute a lien or claim against Seller's interest in the Property. Purchaser shall pay to Seller all amounts,
<br />costs and expenses, including reasonable attorneys' fees, incurred by Seller to remove any such liens or adverse claims.
<br />13. COMPLIANCE WITH LAWS. Except for matters which Seller has created, suffered or permitted to exist prior to the date of
<br />this Contract, Purchaser shall comply or cause compliance with all laws and regulations of any governmental authority which
<br />affect the Property or the manner of using or operating the same, and with all restrictive covenants, if any, affecting title to
<br />the Property or the use thereof.
<br />14. RECORDING OF CONTRACT; DEED TAX. Purchaser shall, at Purchaser's expense, record this Contract in the office of
<br />the county recorder or registrar of titles in the county in which the Property is located within four (4) months after the date
<br />hereof. Purchaser shall pay any penalty imposed under Minnesota Statutes Section 507.235 for failure to timely record the
<br />Contract. Seller shall, upon Purchaser's full performance of this Contract, pay the deed tax due upon the recording of the deed
<br />to be delivered by Seller.
<br />15. NOTICE OF ASSIGNMENT. If either Seller or Purchaser assigns their interest in the Property, the assigning party shall
<br />promptly furnish a copy of such assignment to the non-assigning party.
<br />16. PROTECTION OF INTERESTS. If Purchaser fails to pay any sum of money required under the terms of this Contract or
<br />fails to perform any of the Purchaser's obligations as set forth in this Contract, Seller may, at Seller's option, pay the same or
<br />cause the same to be performed, or both, and the amounts so paid by Seller and the cost of such performance shall be payable
<br />at once, with interest at the rate stated in paragraph 4 of this Contract, as an additional amount due Seller under this Contract
<br />If there now exists, or if Seller hereafter creates, suffers or permits to accrue, any mortgage, contract for deed, lien or
<br />encumbrance against the Property which is not herein expressly assumed by Purchaser, and provided Purchaser is not in
<br />default under this Contract, Seller shall timely pay all amounts due thereon, and if Seller fails to do so, Purchaser may, at
<br />Purchaser's option, pay any such delinquent amounts or take any actions reasonably necessary to cure defaults thereunder and
<br />deduct the amounts so paid together with interest at the rate provided in this Contract from the payments next coming due
<br />under this Contract.
<br />17. DEFAULTS AND REMEDIES. The time of performance by Purchaser of the terms of this Contract is an essential part of
<br />this Contract. If Purchaser fails to timely perform any term of this Contract, Seller may, at Seller's option, elect to declare
<br />this Contract cancelled and terminated by notice to Purchaser in accordance with applicable law or elect any other remedy
<br />available at law or in equity. If Seller elects to terminate this Contract, all right, title, and interest acquired under this Contract
<br />by Purchaser shall then cease and terminate, and all improvements made upon the Property and all payments made by
<br />Purchaser pursuant to this Contract (including escrow payments, if any) shall belong to Seller as liquidated damages for
<br />breach of this Contract. Neither the extension of the time for payment of any sum of money to be paid hereunder nor any
<br />waiver by Seller of Seller's rights to declare this Contract forfeited by reason of any breach shall in any manner affect Seller's
<br />right to cancel this Contract because of defaults subsequently occurring, and no extension of time shall be valid unless agreed
<br />to in writing. After service of notice of default and failure to cure such default within the period allowed by law, Purchaser
<br />shall, upon demand, surrender possession of the Property to Seller, but Purchaser shall be entitled to possession of the
<br />Property until the expiration of such period. Failure by Seller to exercise one or more remedies available under this paragraph
<br />17 shall not constitute a waiver of the right to exercise such remedy or remedies thereafter.
<br />18. BINDING EFFECT. The terms of this Contract shall run with the land and bind the parties hereto and the successors in
<br />interest.
<br />19. HEADINGS. Headings of the paragraphs of this Contract are for convenience only and do not define, limit, or construe the
<br />contents of such paragraphs.
<br />20. ADDITIONAL TERMS: Check here ^ if an Addendum to Contract for Deed containing additional terms and conditions is
<br />attached hereto.
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