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. � <br /> ! <br /> E <br /> r <br /> Page 2 of 6 Minnesota Uniform Conveyancing Blanks Form 30.1,7 <br /> i <br /> f <br /> � 2. Title, Seller war�ants that title to the Properiy is,on the date of this C tract,subject only to the following exceptions: E <br /> (a) Covenants,condltions,restr(ctlons(without effective forfeiture pro isions)and declarations of�ecord,if any; � <br /> (b) Reservatlon of minerals or mineral rights by the State oi Minnesot ,if any; ; <br /> (c) Utllity and drainage easements which do not inierfere w(th presen improvements; ` <br /> (d) Applicable laws,ordlnances,and regulations; <br /> (e) The lien of real estate taxes and instaliments of special assessme ts which are payable by Purchaser pursuant to.paragraph 6 � <br /> of this Contract;and <br /> (f� The following Ilens or encumbrances; <br /> Highway Plat flled as Dacurnent No.9206517. <br /> Other easements of record. <br /> � <br /> t <br /> � <br /> 3. Delivery of Deed and Evfdence of Title. Upon Purchaset's full perfo ance of this Contract,Seller shall; € <br /> (a) Execute,acknowledge,and deliver to Purchaser a Warran � Deed,in recordable form,conveying ; <br /> marketable title to the Property to Purchaser,subJect only to the foliowing xceptions: G <br /> (i) Those exceptions referred to in paragraph 2(a),(b},(c),(d,and(e)of this Contract; ; <br /> (ii) L(ens,encumbrances,adverse claims or other matters whi h Purchaser has created,suffered or permitted to accrue `€ <br /> after the date of this Contract;and ` <br /> (ili) The tollowing Ilans or encumbrances: � <br /> Hfghway Plat flled as Document No,9206517. � � <br /> Other easements of record. <br /> i � <br /> (b) Deliver to Purchaser the abstract of tltle to the Property,wlihout fu her extenslon,to the extent requlred by the purchase � <br /> agreement(if any)between Seller and Purchaser. � <br /> � <br /> 4, Purchase Price. Purchaser shall pay to Seller at address desi nate b Seller from time to ilme � <br /> the sum of four hundred ten thousand and No/100 Dollars <br /> ($410,000.00 ),as and for the purchase price(ihe"Purc ase Prlce")for the Property,payable as follows: � <br /> t <br /> � <br /> $205,000.00 The down payment pafd on the date hereof;and � <br /> a <br /> $205,000.00 The balance,together wlth Interest thereon at the annuai r te of 4.75%,payable in monthiy installments of � <br /> principal and interest in the amount of$1;324.76,on or before the flrst day f each month commencing August 1,2015,and on � <br /> !he first day of each month thereafter until February 26,2016,when the en re prinefpal balance and all accrued interesi shall be <br /> due and payable in full. THIS IS A BALLOON PAYMENT. <br /> I � <br /> � <br /> . . € <br /> t <br /> , <br /> d <br /> t <br /> 5, Prepayment. Unless otherwise provided ln this Contract,Purchaser s II have the right to fully or partially prepay lhis Contract at . <br /> + any time without penalty, Any pa�fal prepayment shail be applled first io payment f amounts then due under this Contract,including unpafd <br /> accrued fnterest,and the balance shall be applled to the princfpal installmenEs to b paid in the inverse order of thelr maturity, Partial <br /> prepayment shall not postpone ihe tlue date of the installments to be paid pursuan to thls Contract or change the amount of such Instalimenis. <br /> E <br /> � <br />