Agenda - Council - 05/12/2009 - Laserfiche WebLink

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PURCHASE AGREEMENT 1. PARTIES. This Agreement is made on this day of May, 2009 by and between, David A. Smith and Karen K. Smith, husband and wife„ whose address is 15401 Armstrong Boulevard NW, Ramsey, MN 55303, ("SELLER") and the CITY OF RAMSEY, a Minnesota municipal corporation, ("BUYER"), which address is 7550 Sunwood Drive NW, Ramsey, MN 55303. 2. OFFER/ACCEPTANCE. BUYER offers to purchase and SELLER agrees to sell real property legally described as follows: Lots 1 and 2, Block 2, SMITH ADDITION, Anoka County, Minnesota. PIN #s: 21-32-25-23-0007 and 21-32-25-23-0008 (the "Property") 3. .The term "Property" as used in this Agreement shall include all improvements, hereditaments and appurtenances to the Property. 4. ACCEPTANCE. The acceptance date of this Agreement is the date it is delivered by the last parry signing to the other party. 5. PRICE.. The Purchase Price for the Property is Forty Thousand and 00/100ths Dollars ($40,000.00) ("Purchase Price"), payable at Closing less earnest money. 6. EARNEST MONEY. Concurrently with the execution hereof BUYER shall deposit with SELLER'S attorney for deposit in said attorney's trust account the amount of Two Thousand and 00/100ths Dollars ($2,000.00) as Earnest Money hereunder ("Earnest Money"). 7. DEED/MARKETABLE TITLE. Conveyance Terms. Upon BUYER'S full performance of BUYER'S obligations under this Agreement, SELLER shall execute and deliver to BUYER, on the Closing Date, a Warranty Deed conveying fee title to the Property to BUYER, subject only to: a. .Building, zoning and subdivision statutes, laws, ordinances and .regulations. b. Reservations of minerals or of mineral rights in favor of the State of Minnesota, if any. c. The lien of real estate taxes and special assessments not yet due and payable. d. Covenants, conditions, restrictions and easements of record. 1 .29_