01-15-1980 Council Minutes - Laserfiche WebLink

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.� � Page 12-E ,. Upon receipt of the deed from the State , the City will notify Buyer and will set a closing date for sale and delivery of possession of the Property to Buyer, which closing date should be within thirty (30) days of the date the City receives the deed. Subject to performance by the Buyer and to the prior stated notice of intent to sell by the City, the City agrees to sell the Property to the Buyer, and the Buyer agrees to purchase the Property from the City for a sum equal to the amount deposited with the City as noted above or equal to One Hundred Fifty Dollars ($150 . 00) greater than the actual cost of the Property to the City, whichever is greater, and the City agrees to execute and deliver to Buyer on or before the closing date, a Quit Claim Deed to the Property pursuant to the terms and conditions and in a form attached hereto as Exhibit A. It is understood and agreed that the City by this Agreement, the Quit Claim Deed, or otherwise, makes no express or implied warranties to the Buyer as to, among other things : The title of the property; fitness, safety or merchantability of the property or structures thereon or thereunder; compliance of the Property or structures thereon or there- under with any ordinances, regulations , codes or other restrictions of the City, State of Minnesota, or any governmental entity having jurisdiction over the Property; or as to any other matter affecting the past, present and future use, ownership or sale of the Property. This written Agreement comprises the entire agreement affecting this purchase between the City of Orono and the Buyer and no other agreement, oral or otherwise, has been entered into, or will be recognized. This Agreement will become effective and binding upon Buyer after Buyer has signed this Agreement, and this Agreement will become effective and binding upon the City of Orono after the Mayor and Clerk of the City have signed th�s Agreement. The Buyer agrees to comply with tMe following special conditions as of the date of closing subject to the approval of the City Attorney: Buyer agrees that the City may unilaterally at any time decide not to proceed with the sale of the property to Buyer and Buyer agrees that the City will not be liable to the Buyer in any manner because • of the City' s refusal to sell the Property to Buyer, except for the repayment of the money to Buyer by the C�ty, The Buyer agrees that this Agreement may no,t be assigned, transferred or sold by Buyer to another without the pric�r written consent of the City.