10.01 Purchase Agreement for Pequot Lakes Industrial Park Lot1, Block 2

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c. Recording Costs. Buyer will pay the cost of recording the Deed. Seller shall pay the cost of recording any documents necessary to perfect its own title. d. Other Costs. All other operating costs of the Real Property will be allocated between Seller and Buyer as of the Closing Date, so that Seller pays that part of such other operating costs accruing on or before the Closing Date, and Buyer pays that part of such operating costs accruing after the Closing Date. e. Attorneys' Fees. Each of the parties will pay its own attorneys', accountants' and consultants' fees. 8. TITLE EXANIINATION. a. The Delivery of the Title Commitment. Buyer may obtain, at its option and expense, a commitment for an owner's policy of title insurance. Buyer shall pay all costs associated with obtaining title insurance including,but not limited to, updating of the abstract or obtaining a new abstract of title for the Real Property, title insurance premiums and title examination fees (hereinafter the"Title Commitment"), issued by a Title Insurance Company authorized to do business in the State of Minnesota and approved by Buyer(hereinafter the"Title Company"). The Title Commitment shall be based upon the description of the Real Property provided herein and shall show fee title in the Seller, subject only to the pernutted encumbrances waived in writing by Buyer, and shall provide for extended coverage risks and include special endorsements for zoning, contiguity and such other matters as Buyer may request. b. The Making and Curing of Title Objections. Buyer shall be allowed fifteen (15) days after receipt of the Title Commitment in which to make objections to the content of the commitment, said objections to be made in writing. If there are any objections to the title which are not remedied by the Closing Date,the Seller shall have sixty(60) days from the date of receipt of said written objections in which to remedy said obj ections. c. The Consequences of Failing to Cure Title Objections. If said objections are not remedied within sixty(60)days from the date of Seller's receipt of said objections,then Buyer shall have the following two alternatives: i. Buyer may accept title to said Real Property subject to said objections; or ii. Buyer may declare this entire transaction to be null and void. 9. ENTIRE AGREEMENT; MODIFICATION. This written Agreement constitutes the complete agreement between the Parties and supersedes any prior oral or written agreements between the Parties regarding the Real Property. There are no verbal agreements that change this Agreement and no waiver of any of its terms will be effective unless in writing executed by the Parties. 5