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PURCHASE AGREEMENT <br /> <br />Agreement. <br /> C. <br /> <br /> THIS AGREEMENT is made and entered into as of this <br /> <br />day of January, 1997 by and between the CITY OF RAMSEY, a municipal <br />corporation under the laws of the State of Minnesota ("SELLER") and <br />K.C. LAND CO., a Minnesota partnership, under the laws of the State <br />of Minnesota ("BUYER"). <br /> <br /> R E C I T A L S <br /> <br /> A. SELLER is the owner of certain real property in the CITY <br />OF RAMSEY, County of Anoka, State of Minnesota, legally described <br />as follows: <br /> <br /> Outlots A and B, ALPINE ADDITION; <br /> <br />(the "Property"). <br /> <br /> The real property is unimproved as of the date of this <br /> <br /> SELLER desires to sell, and BUYER desires to purchase the <br /> Property, subject to the following terms and conditions. <br /> <br /> A G R E E M E N T <br /> <br /> In consideration of the mutual covenants made below and other <br />good and valuable considerations, the parties agree as follows: <br /> <br /> 1. OFFER AND ACCEPTANCE. SELLER agrees to sell and BUYER <br />agrees to purchase the Property. <br /> <br /> 2. PURCHASE PRICE. The purchase price for the Property <br />shall be $399,000.00 (the "Purchase Price"). The Purchase Price <br />does include the CITY OF RAMSEY's park dedication fees as required <br /> <br /> <br />