Agenda - Council - 11/13/2001 - Laserfiche WebLink

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I I I I I I I I I I I '1 I I I I REAL ESTATE PURCHASE AGREEN[ENT THIS AGKEEMENT, made and entered into as of November , 2001 by and between tL4&[SEY PROFESSIONAL BUILDING, INC., a Minnesota Corporation, 6957 West Highway 10, Ramsey, Minnesota 55303 ("SELLER"), and CITY OF RA~ISEY, a Minnesota Municipal Corporation, ("BUYER"). WITNESSETH: WHEREAS, SELLER is owner of the real property known as 6957 West Highway 10, Ramsey, lkfirmesota, and legally described as follows: See attached EXttlBIT A (the "Ramsey Parcel"); and WHEREAS, BUYER desires to purchase a 42 foot wide strip of land across the Ramsey Parcel for future frontage road purposes, which 42 foot wide parcel is legally described as follows: See attached EXX-IIBIT B (the "Frontage Road"); and WHEREAS, BUYER desires to purchase a 20 foot wide permanent easement across the Ramsey Parcel from SELLER tbr drainage and utility purposes, which 20 foot wide easement is legally described as ebIIows: See attached EXttlBIT C (the "Easement Parcel"); and WHEREAS, SELLER desires to sell. the Frontage. Road Parcel and the Easement Parcel to BUYER; and WHEREAS, access to the Ramsey P~cel from U.S. Highway 10 is being relocated pursuant to the terms of that certain Reciprocal Easement Agreement between SELLER and 1LkMSEY B & B ASSOCIATES, LLC, a Minnesota Limited Liability Company, wi~ offices at 200 West Highway 13, Burnsville, MN 55337, which agreement is of even date hereof (the "Reciprocal Agreement"); and WHEREAS, BLrYER is unwilling to consummate and close on this Agreement unless simultaneously the Reciprocal Agreement is consummated and closed; and . WHEREAS, the Frontage Road Parcel and the Easement Parcel are hereinafter collectively referred to as (the "Road/Utility Parcels"); and -197-