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<br /> Page 4 of 6 Minnesota Uniform Conveyancing Blanks Forrn 30,1,1 C
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<br /> by Purchaser withln one(1)year after the damage occurs, If,following th completion of and payment for the Repairs,there remains �
<br /> any undisbursed escrow funds,such funds shall be applled to payment of he amounts payable by Purchaser under ihis Contract in (
<br /> accordance with paragraph 8(a)above, �
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<br /> (c) Owners'Assoc(ation, If the Property is subJect io a recorded decl ratlon,so long as the owners'association maintains a �
<br /> master or blanket policy of insurance against fire,extended coverage peril and such other hazards and in such amount as are �
<br /> j required by this Contract,then:(i)Purchaser's oblfgation in the Contract to maintain hazard insurance coverage on the Property Is �
<br /> satisfied;(ii)the provisions of paragraph 8(a)of this Contract regarding ap ficatlon of insurance proceeds shall be superseded by the `
<br /> provisions of the declaration or oiher related documents;and(iii)in the ev nt of e distribution oi insurance proceeds fn Ileu of f
<br /> restoration or repair following an insured casualty loss to the Properry,any uch proceeds payable to Purchaser are hereby assigned E
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<br /> and shall be paid to Seller for application to the sum secured by ihis Contr t,with the excess,if any,pald to Purchaser. ?
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<br /> 9, Injury or Damage Occurring on the Property►. �
<br /> (a) Liablli , Seller shall be free from liability and claims for damages y reason of injuries occurring on or after the date of this �
<br /> Contracl to any person or pe�sons or property while on or about the Prope , Purchaser shall de►end and indemnHy Seller from all E
<br /> Ilability,loss,cost,and obligations,including reasonable attorneys'fees,o account of or arising out of any such inJur(es, However, E
<br /> Purchaser shall have no liability or obligation to Selier for such Injurfes whi are caused by the negligence or intentiona►wrongfui acts `
<br /> or omissions of Seller, �
<br /> (b) Liabil(ty Insurance, Purchaser shall,at Purchasers own expense, rocure and maintain Ilabllity insurance against claims for �
<br /> bodfly inJury,death and property damage occurring on or about the Propert in amounts reasonably satisfactory to Seller and naming �
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<br /> Seller as an additional Insured. �
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<br /> 10, Insurance Generally, The insurance which Purchaser is required to rocure and maintain pursuant to paragraphs 7 and 9 of ihls �
<br /> Contract shalf be issued by an insurance company or companies licensed to do bu iness in the State of Minnesota and acceptable to Seller, '
<br /> The insurance shali be ma(nta(ned by Purchaser at all times while any amount re (ns unpald under fhis Contract.The Insurance policies shall
<br /> provide for not less than ten(10)days written notice to Seller before cancellation, n-renewal,terminatlon or change in coverage,and :'
<br /> Purchaser shall deliver to Selier a duplicate original or certiflcate of such insuranc policy or policles,
<br /> + 11, Condemnation. If all or any part of the Property Is taken in condemn ion proceedings instituted under power of eminent domain F
<br /> or Is conveyed In Ileu thereof under threat of condemnation,the money pa(d pursu nt to such condemnation or conveyance in lieu thereof shall �
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<br /> be applied to payment of the amounts payable by Purchaser under this Contract,e en If such amounts are not then due to be paid, Such
<br /> amounts shali be applled in the same manner as a prepayment as provided In par graph 5 of this Contract. Such payments shall not postpone
<br /> the due date of the installmenis to be paid pursuant to this ConUact or change ihe mount of such instaliments. The balance,if any,shall be
<br /> the property of Purchaser. :
<br /> 12, Waste,Repalr,and Liens. Purchaser shall not remove ar demolish a y buiidings,improvements,or fixtures now or later located
<br /> on or a part of the Property,nor shall Purchaser commit or allow waste of ihe Prop rty, Purchaser shall maintain the Property in good '
<br /> condltion and repair, Purchaser shall not creaie or perm(t to accrue Ilens or advers claims aga(nst the Property which constitute a lien or '
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<br /> claim against Selle�'s interest In the Property, Purchaser shall pay to Seller all am unts,costs and expenses,including reasonable attorneys' E
<br /> fees,incurred by Seller to remove any such liens or adverse claims. ;
<br /> 13. Compliance wlth Laws. Except for matters which Seller has created,suHered,or permitted io exist prlor to the data of ihis �.
<br /> Contract,Purchaser shall comply or cause compliance with all laws and regulation of any governmental author(ty which affect the Property or `
<br /> t�e manner of using or operating the same,and with all restrictive covenants,If an affeciing title(o the Property or the use thereof,
<br /> 14. Recording of Contract;Deed Tax. Purchaser shall,at Purchaser's e pense,record this Contract in the Offlce of the County t
<br /> Recorder or Regisfrar of T(tles In the county in which the Property is located within our{4)monlhs after ihe date hereof,Purchaser shall pay
<br /> any penalty imposed under Minn,Stat.507.235 for failure to tlmely record the Cont act. Seller shall,upon Purchaser's fuli pertormance of this
<br /> Contract,pay the deed tax due upon ihe recording oi the deed to be delivered by S Iler.
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