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3 <br />who demonstrates to the satisfaction of Seller that such purchaser <br />has the ability to perform in place of Buyer. <br /> <br />ii. Well Certificate. If there are wells on the Real Property, a Well <br />Certificate in the form required by Minn. Stat. § 103I.235. <br /> <br />iii. Other Affidavits. Any other affidavits or certificates that may be <br />required under Minn. Stat. § 116.48, Subd. 6, or § 115B.16 or other <br />provisions of law. <br /> <br />iv. Other. Such other documents as may reasonably be required to transfer <br />fee title to the Property to Buyer. <br /> <br />b. Buyer’s Closing Documents. On the Closing Date, Buyer will execute and/or <br />deliver to Seller the following (collectively, “Buyer’s Closing Documents): <br /> <br />i. Purchase Price. The Purchase Price, by check or wire transfer. <br /> <br />ii. Certificate of Real Estate Value. A Certificate of Real Estate Value. <br /> <br />4. CONTINGENCIES. The obligations of the Parties to perform under this Purchase <br />Agreement are contingent upon the timely occurrence or satisfaction of each of the <br />following conditions prior to or on the Closing Date: <br /> <br />a. On the Closing Date, title to the Real Property shall be acceptable to Buyer <br />subject to and in accordance with the provisions of Section 8 regarding title <br />examination. <br /> <br />b. The representations and warranties of Seller shall be true and correct in all <br />material respects up through and including the Date of Closing. <br /> <br />c. The Parties understand and agree that the purchase of the Real Property is <br />contingent upon approval by the City Council of the City of Pequot Lakes. <br /> <br />d. Prior to the transfer of title of the Real Property, the Buyer shall submit to the <br />Seller plans and specifications for the development of the Real Property; no <br />transfer shall be made unless and until such plans are approved in writing by the <br />Seller. The detail of the plans and specifications shall be such as will enable the <br />Seller to determine with reasonable certainty that the project on the Real Property <br />is or will be in compliance with the law and will, if carried out, provide for the <br />intended use. <br /> <br />e. Buyer has closed on Buyer’s financing and provided to Seller a document signed <br />by the Buyer’s bank or other financial institution demonstrating that Buyer has <br />closed and obtained financing to construct and complete the development project <br />on the Real Property.