10.5 Purchase Agreement - Laserfiche WebLink

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iii. Other Affidavits. Any other affidavits or certificates that may be required under Minn. Stat. § 116.48, Subd. 6, or § I I5B.16 or other provisions of law. iv. Other. Such other documents as may reasonably be required to transfer fee title to the Property to Buyer. b. Buyer's Closing Documents. On the Closing Date, Buyer will execute and/or deliver to Seller the following (collectively, "Buyer's Closing Documents): i. Purchase Price. The Purchase Price, by check or wire transfer. ii. Certificate of Real Estate Value. A Certificate of Real Estate Value. 4. CONTINGENCIES. The obligations of the Parties to perform under this Purchase Agreement are contingent upon the timely occurrence or satisfaction of each of the following conditions prior to or on the Closing Date: a. On the Closing Date, title to the Real Property shall be acceptable to Buyer subject to and in accordance with the provisions of Section 8 regarding title examination. b. The representations and warranties of Seller shall be true and correct in all material respects up through and including the Date of Closing. c. The Parties understand and agree that the purchase of the Real Property is contingent upon approval by the City Council of the City of Pequot Lakes. d. Prior to the transfer of title of the Real Property, the Buyer shall submit to the Seller plans and specifications for the development of the Real Property; no transfer shall be made unless and until such plans are approved in writing by the Seller. The detail of the plans and specifications shall be such as will enable the Seller to determine with reasonable certainty that the project on the Real Property is or will be in compliance with the law and will, if carried out, provide for the intended use. e. Buyer has closed on Buyer's financing and provided to Seller a document signed by the Buyer's bank or other financial institution demonstrating that Buyer has closed and obtained financing to construct and complete the development project on the Real Property. The contingencies in this section are solely for the benefit of, and may at any time be waived by, the Party so benefitted. If any approval as provided herein is not obtained by the Closing Date, this Agreement shall be null and void. If this Agreement becomes null and void pursuant to this Section, all earnest money paid by Buyer to Seller shall be immediately refunded by Seller to Buyer. 3