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' Oo/06/2011 10:47 IFP�Y -� EFP�K � 016i 031
<br /> Aug, 6, 2011 11 ; 34AM Gabriel �I �an� ial Group No, 0939 P, 6/10
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<br /> ��� � V�CAf�T LAf�D PLfRCHAS� AGR�EMENT
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<br /> `Ba"""�`°"' 118. Page 4 Date
<br /> 119. Property I�cated at.� c�.� � � �� (� �'
<br /> 720. TiT�.E AND EXAMINATION: Within a reasonable time period aftar Finai Acceptance of this Purchase Agreement,
<br /> 121. Seller shall provide one oi the following title evidence options,at Seller's selection,whicn shall in�lude proper SearChes
<br /> 122, covering bankruptcies, state and federal judgments and (iens, and levi�d�nd pending special�sseUsments to Buyer
<br /> 123. or guyer's designated fltle service prpvider;
<br /> 124. (1) A cammitment ior an owner's policy of tiUe insurance on a currenf ALTA form issued by an insurer licensed to write
<br /> 125, tiU2 insurance in Minnesota as sefected by Buyer.5eller shalf be responsible for the title search�nd exam costs
<br /> 126. relafed to the commitment. Buyer shall be resaonsibfe for all &dditional costs related to the issuance of the title
<br /> 127. insurance poii�y(ies), including but not limited to the premium(s), BUyer's name searCh and plat drawing, if any.
<br /> 12g. Seller shali surrender a copy of any owner's title insur�nce policy and Abstract of Tifle, if in Selfers po�session or
<br /> 129. control, fpr this properfy to 8uyer or Buyer's designated tiile service provider.
<br /> 130. (?_) An Abstract of Title certifiod to data if Abstract Property or a Registered Property Abstract(F,Pq}cartified tv date
<br /> 131. if Registered ('Torrens) property.Seiler shal! pay for the abstracting dr RPA costs and suri�ender any absSract for
<br /> 132. this property in Selfer's passession or r,ontral to Buyer or 8uyer's designated titla sarvice provider. If�roperty is
<br /> 133. Abstract and Self�r does hot have an Abstract of Title, Option (1)will automatic�liy apply.
<br /> 134. 5elfer shall use Seqer's best etforts to provide marketable titfe by the date of closing. In the event that SeiJer ha;not
<br /> 135, provided marketable title by the date of�Jpsing,Seller shall have an additional 30 d�ys to make title marke,able or, in
<br /> 136. the afternative, Buyer may waive title defects by writtr�n notice to Seiler, !n addifion to the 30-day exten;ion, Buyer
<br /> 7 37, and Seller may by mukUal agre�ment further extand the elosing date,Lacking such extension,aither party may decfare
<br /> 138. this Purchase Ac�reement eaneeled by written notica to the ather party, or licensee representing or asslsting the other
<br /> 139. party,in which ease this Purchase Agrpement is canceled.If either party deciares this Purchase Agreement cancelad,
<br /> 140. 6uyer and Seller shall immadiateiy sign a Gancellation of Pur�hase Agreemer�t confirming said cancellation and
<br /> 141. directing all earnest money paid hereunder to be refundad to Buyer.
<br /> 142. SUBDEVISION QF LAND:If ti�is safe constituies or requires a subdivision�t land owned by Seller,Seiler shall pay all
<br /> 143. subdivision expenses and obtain all necessary governmental approvals.This provision deals w(th the necessity of
<br /> 144. subdividing land to complete the sale of the property described herein in contrast to the subdivision provision of lines
<br /> 145. 52-53 which cleals with the future development plans of Buyar.Seller warrants tha legal description of the rea!property
<br /> 146, to be conveyed has been or shalf be apprqved for recording as of the date of closing. Seller warrants that there is a
<br /> 147. right of access to the property from a public right bf way.These warranties shall survive tha delivery of the deed or
<br /> 148, contract for deed. �
<br /> 149. MtCNANlC'S LI�NS: Seller warrants that prior- to the closing, payment in full wii► have been made for ail labor,
<br /> �50. materials, machinery,fixfures or rt�ols furnished withln the 1?0 days immediately preceding the closing.
<br /> 15i. NC3TiCES:5elier warrants fhat Se�fer has not received any notice from any governmental authoriiy as to condemnation
<br /> 15?, proceedings or violation of any faw, ardinanca or regulatiori.lf the property is subject Ep resttictive covenants, �eller
<br /> 153. warrants fhat Seller has not received any notica fram any person or autharity as to a breach of the covenants.Any
<br /> 154. such notices received by Seller shall be provided to Buyer immedi�taly,
<br /> 155. DfMENSIONS: Buyer�cknowledr�es any dimensians, square fr�otage or acreage of land or lmprovements provided
<br /> 156. by Se11er or broker may be approxirr�ate.Some information may have been provided by third parfies and information
<br /> 157. may be reliable but not guarantead. Buyer shall verify the accuracy of infoPmation to euyer'S satisfaction, If matarial,
<br /> 158. at Buyer'S Sole cost and expense.
<br /> 159. ACC�SS;Selfer agrees to aAow Buyer reasonable 2ccess to the properry for performance of arsy surveys,inspections
<br /> 160. or tests or for water, sewer, gas or eleotrical service hookup as agreed to h�rein.Buyer shall rAstore tl�e premi;�s to
<br /> 161, the same condition it was in prior io th�sUrveys,inspectionS or tests and pay for any restorati4n Costs relative thereto.
<br /> 162. Fti5K OF LOSS: If there is any loss or damage to the property betwzen the date hereof and the date of closing for
<br /> 163. any reason,including fira,vandalism,flood,earthquake ar act of God,tha risk of foss shall be on Seller.If the property
<br /> 154. is des#roy�d or su6staniially damaged before the cfosing date, this Purchase Agr�ement is canceled, at Buyer's
<br /> 165. option,by wrikten n�tice to Seller or licensee representing or assisting Seller.tf Buyer cancels this Purchase Agreemenf,
<br /> 166, Buyer and Seller shall immediately Sign a Cancelta�iQn af Purch,ase Agreoment confirming said cancel(ation and
<br /> 1&7. diracting all earnest money paid hereunder tp be refunded to Buyer,
<br /> MN:VLPA-4($/11} .
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