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10.01 Purchase Agreement for Proposed Lot 2, Block 1, Heart of the Good Life
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10.01 Purchase Agreement for Proposed Lot 2, Block 1, Heart of the Good Life
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b. Real Estate Taxes and Special Assessments. Real estate taxes and any special <br /> assessments payable in the year 2020 shall be prorated between Seller and Buyer <br /> to the Closing Date. The Buyer shall pay real estate t�es and any special <br /> assessments payable therewith in 2020 and thereafter. <br /> c. Recording Costs. Buyer will pay the cost of recording the Deed. Seller shall pay <br /> the cost of recording any documents necessary to perfect its own title. <br /> d. Other Costs. All other operating costs of the Real Property will be allocated <br /> between Seller and Buyer as of the Closing Date, so that Seller pays that part of <br /> such other operating costs accruing on or before the Closing Date, and Buyer pays <br /> that part of such operating costs accruing after the Closing Date. <br /> e. Attorneys' Fees. Each of the parties will pay its own attorneys', accountants' <br /> and consultants' fees. <br /> 8. TITLE EXAMINATION. <br /> a. The Delivery of the Title Evidence. Buyer may obtain, at its option and <br /> expense, a commitment for an owner's policy of title insurance. Buyer shall pay <br /> all costs associated with obtaining title insurance, title insurance premiums and <br /> title examination fees (hereinafter the"Title CommitmenY'), issued by <br /> Commercial Partners Title(hereinafter the"Title Company"). The Title <br /> Commitment shall be based upon the description of the Real Property provided <br /> herein and shall show fee title in the Seller, subject only to the permitted <br /> encumbrances waived in writing by Buyer, and shall provide for extended <br /> coverage risks and include special endorsements for zoning, contiguity and such <br /> other matters as Buyer may request. Seller shall provide a current survey of the <br /> Real Property,prepared and certified by a land surveyor licensed in Minnesota <br /> (the"Survey")prior to Closing. The Survey shall conform to the"Minimum <br /> Standard Detail Requirements for Land Title Surveys"as adopted in 2016 by the <br /> American Land Title Association and the American Congress on Surveying& <br /> Mapping, and include Table A items 1-5, 6(a), 7(a), 7(bl), 7(c), 8, 11, 13, 14 and <br /> 16-18. The Title commitment and the Survey shall be referred to collectively as <br /> the"Title Evidence". <br /> b. The Making and Curing of Title Objections. Buyer shall be allowed fifteen <br /> (15)business days after receipt of the Title Evidence in which to make objections <br /> to the content of the commitment, said objections to be made in writing. If there <br /> are any objections to the title which are not remedied by the Closing Date, the <br /> Seller shall have sixty(60) days from the date of receipt of said written objections <br /> in which to remedy said objections. <br /> c. The Consequences of Failing to Cure Title Objections. If said objections are <br /> not remedied within sixty(60) days from the date of Seller's receipt of said <br /> 6 <br />
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