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' 4. [® ] Buyer, [❑ ] Seller agrees to pay to a withdrawal fee of$1,604.60 to the State of Minnesota <br /> based on 6.5%of the agreed to purchase price. At the Closing Date, [®]Buyer, [❑] Seller will execute a <br /> ' check made out for this amount,payable to the Board of Water and Soil Resources. <br /> ' 5. The closing of the purchase and sale shall occur on or before Nov.30,2012(Closing Date)at a time <br /> and place to be determined. The Closing Date and location may be changed by written consent of both <br /> parties. Upon payment of the balance of the purchase price, Seller will sign a fully executed Application for <br /> Withdrawal of the Credits in the form specified BWSR,provide a copy of the Application for Withdrawal to <br /> ' the Buyer and forward the same to the BWSR along with the check for the withdrawal fee. <br /> 6. Buyer has applied or will apply to Minnehaha Creek Watershed District(Local Government Unit <br /> (LGU)or other othregulatory authority)for approval of a replacement plan utilizing the Credits as the means of <br /> gu <br /> replacing impacted wetlands. If the LGU has not approved the Buyer's application for a replacement plan <br /> utilizing the Credits by the Closing Date, and no postponement of the Closing Date has been agreed to by <br /> Buyer and Seller in writing,then either Buyer or Seller may cancel this Agreement by giving written notice <br /> to the other. In this case, Seller shall return Buyer's earnest money, and neither Buyer nor Seller shall have <br /> any further obligations under this Agreement. If the LGU has approved the replacement plan and the Seller <br /> 1 is ready to proceed with the sale on the Closing Date,but Buyer fails to proceed,then the Seller may retain <br /> the earnest money as liquidated damages. <br /> Zee <br /> 7l�l�z <br /> 1 V((Sig-aneof Seller) (Date) (Sig re of Buyer) (Date) <br /> Page 2 of 2 <br /> BWSR Form:wca-bank 12(purchase agreement).doc <br /> Revised 6/1/2010 <br />