CCP 01-13-2009 (3) - Laserfiche WebLink

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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 owners of respective properties 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 Closing Date. 7. Closinp Date. The date of closing will be on a date mutually agreed by the parties but no later than January 14, 2009 (sometimes herein referred to as the "Closing Date" or "Closing"). 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. 8. Closing Costs. Each party will be responsible for payment of the following costs: (a) transfer taxes related to the property it is selling; (b) recording fees for instruments required to establish title for the property it is selling in the condition required by this Agreement; (c) one- half the closing fees charged by Title or other closing agent used to close the transaction contemplated by this Agreement; and (d) its attorneys' fees. City shall be responsible for payment of the following costs: (e) title commitments for the Exchange Property and Butcher's Spur; (f) premiums for title insurance policies on the Exchange Property and Butcher's Spur. 9. Possession/Condition of Property. Each party shall deliver possession of the property it is selling to the other on the Closing Date. A. STORAGE TANKS. Any known above ground and underground storage tanks will be removed from the Exchange Property by City at its expense prior to Closing. MT represents that it is not aware of any above ground or underground storage tanks on the Butcher's Spur. If City discovers any tanks on the Butcher's Spur after Closing as a result of City's Voluntary RAP Activities and determines that such tanks must be removed from the Butcher's Spur, City will not seek to recover from MT the costs of removing any such storage tanks. B. WELLS. Any wells on the Exchange Property 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 and on the Exchange Property by City at its expense in accordance with Minnesota law. C. TRACKS. MT or its assigns (including Operator) may remove the existing tracks, ties and/or ballast in the Butcher's Spur at any time within 30 days after the Closing Date. Any tracks, ties or ballast left after such date shall become the property of the City. MT shall have the right to enter onto the Butcher's Spur after Closing in accordance with this paragraph. D. MATERIAL STORAGE AND RELOCATION. MT agrees not to permit a net is increase in the amount of bricks, pallets, boulders, bulk commodities and similar 2199835v4