CCP 05-27-2008 - Laserfiche WebLink

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• and Exchange Parcel. B. Each party shall pay at or prior to closing the balance of all special assessments levied prior to closing, including assessments certified for payment with real estate taxes payable in the year of closing for the property it is selling to the other. Each party shall provide at closing for the payment of all special assessments pending as of the date of this Agreement by escrowing an amount equal to one and one-half times the estimated amount of said special assessments for the property it is selling to the other. C. Notwithstanding any other provision of this Agreement, the current owner of a property shall at all times be responsible to pay special assessments related to current services (e.g., delinquent utility bills, diseased tree removal, etc.) provided by the assessing authority to the owner's property prior to the date of closing. 8. Closing Date. The date of closing will be on the earliest to occur of: (i) 30 days after the satisfaction or waiver of all of the contingencies at paragraph 3 above or (ii) August 15, 2008. Delivery of all papers and the closing shall be made at the offices of Title, or at such other location as is mutually agreed upon by the parties. 9. Closing Costs. Each party will be responsible for payment of the following costs: (a) title commitment for the property it is selling; (b) premium for title insurance policy, if any, on the • property it is acquiring; (c) transfer taxes related to the property it is selling; (d) recording fees for instruments required to establish title for the property it is selling in the condition required by this Agreement; (e) one-half the closing fees charged by Title or other closing agent used to close the transaction contemplated by this Agreement; (f) its attorneys' fees. 10. Possession/Condition of Property. Each party shall deliver possession of the party it is selling to the other on the date of closing. A. STORAGE TANKS. Any above ground and underground storage tanks will be removed from the Exchange Property by City at its expense and from the Butcher's Spur by MT at its expense prior to closing. B. WELLS. Any wells on the Exchange Parcel or Butcher's Spur, whether abandoned or operating, will be identified on the relevant survey. All wells will be abandoned on the Butcher's Spur by MT at its expense and on the Exchange Parcel by City at its expense in accordance with Minnesota law. C. TRACKS. MT or its assigns (including Operator) may remove the existing tracks, ties or ballast in the Butcher's Spur at any time up to the Closing Date. Any tracks ties or ballast left after the Closing Date shall become the property of the City. • D. MATERIAL STORAGE AND RELOCATION. MT agrees not to permit a net increase in the amount of bricks, pallets, boulders, bulk commodities and 333478v2 JMP NE136-221