Agenda - Council - 04/24/2001 - Laserfiche WebLink

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-242- REAL ESTATE EXCHANGE AGREEMENT This Agreement ismadethis__ day of April, 2001 by and between the CITY OF RAMSEY, a Minnesota Municipal Corporation, 15153 Nowthen Boulevard N.W., Ramsey, Minnesota 55303 ("CITY") and TILLER CORPORATION, a Minnesota Corporation, 10633 89th Avenue North, Maple Grove, Minnesota 55369 ("TILLER"). RECITALS WHEREAS, the CITY is the fee owner of the following described property, to-wit: SEE ATTACHED EXHIBIT A (the "City Property"); and WHEREAS, TILLER is the fee owner of the following described property, to-wit: SEE ATTACHED EXHIBIT B (the "Tiller Property"); and WHEREAS, the CITY desires to acquire the Tiller Property for street right-of-way and other public purposes; and WHEREAS, TILLER desires to acquire the City Property for its business purposes; and WHEREAS, the CITY agrees to convey the City Property to TILLER and TILLER agrees to convey the Tiller Property to the CITY, all upon the terms and conditions stated herein below. NOW, THEREFORE, it is agreed by and between the part/es hereto as £ollows: 1. CITY PROPERTY. The CITY will convey fee title to the City Property to Tiller on the Closing Date in accordance with the terms of this Agreement. 2. TILLER PROPERTY. TILLER will convey fee title to the Tiller Property to the CITY on the Closing Date in accordance with the terms of this Agreement. 3. CONSEDERATION. The CITY shall receive no consideration for its conveyance of the City Property to TILLER, except for the Tiller Property, nor shall TILLER receive any consideration for its conveyance of the Tiller Property to the CITY, except for the City Property. The CITY agrees that it will draft all legal documents for both parties, at its expense, necessary to accomplish the purposes of this Agreement. i I I I I I I I I I I I I I I I I I