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Page A of 6 Minnesola Unlform Conveyancing Blanks Form 30.1.1 E
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<br /> by Purchaser within ona(1)year after the damage occurs. Ii,following th completlon of and payment for the Repairs,there remalns �
<br /> any undisbursed escrow funds,such funds shall be applletl to payment of e amounts payable by Purchaser under this Contract in �
<br /> accordance w(th paragraph 8(a)above, �
<br /> (c) Owners'Assoc(ation, If ihe Property is subJect to a recorded deci ration,so long as the owners'assocfation maintains a �
<br /> master or blanket policy of insurance against flre,exlended coverage peril and such other hazards and in such amount as are ;
<br /> j requlred by this Contract,then:(i)Purchaser's obligatlon in ihe Contract to malntaln hazard insurance coverage on the Property is €
<br /> satisfiad;(ii)the provisions of paragraph S(a)of this Contract regarding ap icatlon of insurance proceeds shall be superseded by the �
<br /> provislons ot the declaration or oiher related documents;and(iii)in ihe ev t of a distribu�on of insurance proceeds fn fleu of �
<br /> restoration or repair following an insured casualty loss to the Property,any uch proceeds payable to Purchaser are hereby,assigned �
<br /> and shall be paid to Seller for application to the sum secured by this Contr t,with tha excess,If any,paid to Purchaser, f
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<br /> 9, InJury or Damage Occurring on the Property.
<br /> (a) Liabili , Seller shall be free from liabllity and ciaims for damages y reason of injuries occumng on or aRer the date of this �.
<br /> ConUact to any person or pe�sons or property while on or about the Prope , Purchaser shall defend and indemni(y Seiler from all E
<br /> Ilability,loss,cost,and obligations,including reasonable attorneys'fees,o account of or a�ising out of any such inJuries. However,
<br /> Purchaser shall have�o liabillty or obligatlon to Selier for such injurles whi are caused by the negligence or Intentional wrongtul acts �
<br /> or omissfons of Seller.
<br /> (b) Liability Insurance. Purchaser shall,at Purchaser's own expense, rocure and maintain Ilability Insurance against claims for
<br /> bodily injury,death and property damage occurring on or about the Prapert In amounts reasonably satisfactory to Seller and naming ;
<br /> Seller as an addltfonal insured. ;
<br /> 10, Insurance Generally, The insurance which Purchaser is required to rocure and maintain pursuanl to paragraphs 7 and 9 of this ¢
<br /> Contract shall be issued by an insurance company or companies Ifcensed to do bu iness in the State of Minnesota and acceptable to Saller. ,
<br /> The insurance shail be malniained by Purchaser at all times while any amount rem ins unpafd under this Contract.The Insurance polfcles shall
<br /> provide tor not less than ten(10)days writfen notice to Saller before cancellation, on-renewal,termination or change In coverage,and
<br /> Purchaser shall deliver to Seller a duplicate original or certiflcate of such insurance policy or policies, `
<br /> + 11. Condemnatlon. If all or any pa►t of the Property is taken in condemn ion proceedings instituted under power of eminent domaln `
<br /> or Is conveyed in Ileu thereof under threat of condemnation,the money paid pursu t to such condemnation or conveyance in lieu thereof shall
<br /> be applied to payment of the amounts payable by Purchaser under this�Contract,e en ff such amounts are not then due to be paid, Such z
<br /> amounts shall be applled in the same manner as a prepayment as provided in par raph 5 of lhis Contract. Such payments shall not postpone "
<br /> the due date of the instaliments to be paid pursuant to this Contract or change the mount of such installments. The balance,if any,shall be
<br /> the property of Purchaser.
<br /> 12. Waste,Repair,and Llens. Purchaser shall not remove ar demolish a y buildings,(mprovements,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 /> cond(iion and repair, Purchaser shall not create or permit to accrue ilens or advers clalms against the Property which constitute a lien or
<br /> claim against Sellers interest In the Property, Purchaser shall pay to Seller all am nts,costs and expenses,including reasonabls attorneys'
<br /> fees,incurred by Seller to remove any such Ilens or adverse claims.
<br /> 13. Compllance with Laws, Except for matters which Seller has created, uffered,or permitted to exist prlor to the date of ihis i
<br /> Contract,Purchaser shall comply or cause compliance with all laws and regulation of any governmental author(ty which affect the Property o�
<br /> the manner of using or operating lhe same,and with all restrictive covenanls,lf any affecting title to the Property or the use thereof.
<br /> 14. Recording of Contract;Deed Tax. Purchaser shali,at Purchaser's e pense,record this Contract in the Offlce of the County
<br /> Recorder or Registrar of Titles in the county in which the Prope�ty is located within ur(4)months after the date hereof,Purchaser shall pay
<br /> any penalty(mposed under Minn,Stat,507,235 tor failure to 8mely record the Cont ct. Seller shall,upon Purchase�'s full performance of ihis
<br /> Contract,pay the deed tax due upon ihe recording o(the deed to be delivered by S Iler,
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