Laserfiche WebLink
Attachment A <br />__ <br />-- <br />SCI Associates, LLC <br />366 South Tenth Avenue ~ PO Box 727 <br />Waite Park, Minnesota 56387-7027 <br />Tel (320) 202-3100 <br />December 17, 2009 <br />Sent Via E-Mail Transmission <br />Mr. Kurt Ulrich <br />City of Ramsey <br />7550 Sunwood Drive NW <br />Ramsey, Minnesota 55303 <br />RE: Letter of Intent to Purchase. <br />Ramsey Town Center. <br />Dear Mr. Ulrich: <br />This Letter of Intent sets forth the principal terms upon which SCI Associates, LLC, a <br />Minnesota limited liability company ("Buyer") or its assigns would be willing to purchase from <br />the City of Ramsey Housing & Redevelopment Authority ("Seller") vacant land in Ramsey <br />based on the terms and conditions hereinafter set forth. It is understood by the parties hereto that <br />this Letter of Intent is intended to lead to a definitive Purchase Agreement to be executed by the <br />parties. Some of the more significant terms and conditions of the proposed purchase are as <br />follows: <br />1. Pro e~rt~ Seller is the fee owner of certain real property, approximately 3.8 acres, <br />situated in the City of Ramsey, County of Anoka, State of Minnesota, generally depicted <br />in EXHIBIT A ("Property"). <br />2. Purchase Price. Buyer agrees to pay the amount of One Million Five Hundred Thousand <br />and No/100 Dollars ($1,500,000.00) for the Property together with all easements, <br />heriditaments and appurtenances including any future forfeitures of adjacent interest in <br />real estate by any governmental authority. <br />3. Earnest Money. Upon execution by both parties of the Purchase Agreement, Buyer shall <br />deposit Ten Thousand and No/100 ($10,000.00) in cash into an interest bearing escrow to <br />be held at Buyer's title company with interest accruing to the benefit of the Buyer <br />("Earnest Money"). <br />4. Real Estate Taxes & Special Assessments. Real estate taxes due and payable in the year <br />of closing shall be prorated on a calendar year basis. Seller shall pay all unpaid levied, <br />deferred and pending assessments existing on the date of Closing. The Property shall not <br />be assessed for any improvements if Sapphire Street is extended to East Ramsey <br />Parkway. <br />