Agenda - Council - 03/23/2010 - Laserfiche WebLink

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. 9 PURCHASE AGREEMENT 1. PARTIES. This Agreement is made on this day of , 2010 by and between Inter City Oil Company, Inc., a Minnesota corporation ( "SELLER "), whose address is 1923 South Street, Duluth, Minnesota 55812, and the CITY OF RAMSEY, a Minnesota municipal corporation ( "BUYER "), with address 7550 Sunwood Drive Northwest, Ramsey, Minnesota 55303. 2. OFFER/ACCEPTANCE. BUYER agrees to purchase and SELLER agrees to sell real property located at 6021 Highway 10 NW, Ramsey, Minnesota, 55303, Anoka County, Minnesota, legally described on the attached Exhibit A (the . "Property") on the terms of this Agreement. The term "Property" as used in this Agreement shall include all improvements and fixtures located thereon on the Closing Date, together with all hereditaments anal- appurtenances to the Property including but not limited to all mechanical, electrical, heating, air conditioning, drainage, sewer, water, plumbing and roofing systems if any. The parties do not contemplate the conveyance of any personal property pursuant to th§ Agreement. 3. ACCEPTANCE. The acceptance date of this Agreement is the date it is' signed by the last party signing. 4. PRICE. The Purchase Price for the Ft.operty is Eight Hundred Seventy -Nine Thousand Two Hundred Dollars ($879,200.00) (,"Purchase Price "), payable at Closing, less the Earnest Money previously paid. 5. EARNEST MONEY. Concurrently with the execution hereof BUYER shall deposit with SELLER the amount of Five Thousand Dollars ($5,000.00) as Earnest Money hereunder ( "Earnest Money"). - 61. DEEDWARKETABLE TITLE. Conveyance Terms. Upon BUYER'S full performance of BUYER e>bligati6ft under this Agreement, SELLER shall execute and deliver to BUYER, on the date of "closing, a Warranty Deed conveying fee title to the Property to BUYER, subject only to: a Building, zoning and subdivision statutes, laws, ordinances and xegulhtions. 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.