Agenda - Council - 10/12/2010 - Laserfiche WebLink

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PURCHASE AGREEMENT 1. PARTIES. This Agreement is made on this day of 2010 by and between Todd N. Bialon and Kelly J. Bialon, T usband and wife (i °SELLER "), whose address is 3197 - 261'` Avenue NW, Isanti, MN 55040, and the CITY OF RAMSEY, a Minnesota municipal corporation ( "BUYER "), with address 7550 Sunwood Drive NW, Ramsey, MN 55303. 2. OFFER/ACCEPTANCE. BUYER agrees to purchase and SELLER agrees to sell real property located at 7751 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, with the exception of the existing pylon sign, located thereon on the Closing Date, together with all hereditaments and appurtenances to the Property. The parties do not contemplate the conveyance of any personal property pursuant to this Agreement other than the pylon sign fixture that shall remain in its current location until such time SELLER wishes to remove or relocate the fixture, or other arrangement negotiated between the two parties, except that said sign, if not removed before, shall be removed at the time SELLER terminates his right of possession on the Property. 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 Property is $635,370.00 ( "Purchase Price "), payable at Closing, less the Earnest Money previously paid. i 5. EARNEST MONEY. Concurrently with the execution hereof of BUYER shall deposit with SELLER the amount of Five Thousand Dollars ($5,000.00) as Earnest Money hereunder ( "Earnest Money "). 6. 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 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 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.