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OPTION TO PURCHASE REAL PROPERTY <br /> <br />and <br /> <br />Lot 1, Block 5, Gateway North Industrial Park Plat 2 <br /> <br /> together with the buildings and ali other improvements thereon, all easements, rights-of- <br /> w~y, and appurtenances thereto, and all of Seller's right, title, and interest in ali public ways <br /> adjoining the property. The real properties described above are hereinafter referred to as the <br /> "Subject Properties". <br /> This option is given on the following terms and conditions. <br /> <br /> ~! SECTION ONE <br /> ~ PRICE AND TERMS OF PAYMENT <br /> ~! The purchase price for the Subject Property shall be Dollars ( ) which <br /> ~all be paid, on exercise of this option by Purchaser, as follows: Cash on the Closing Date. <br /> <br /> SECTION TWO <br /> PERIOD OF OPTION AND EXTENSION <br /> This option may be exercised by giving notice thereof to Seller at P.O. Box 67, Anoka, <br />~nnesota 55303, at any time during the primary period from the date of this instrument until <br />~2:00 o'clock A.M., March 2, 1995; or during the extension period, if the option is extended as <br />-herein provided, until 12:00 o'clock A.M, .... 1995. The option may be so extended by <br />~Purchaser giving Seller written notice of extension prior to the termination of the primary period, <br />~and paying to Seller, at the time of the notice, the additional consideration of dollars <br /> <br /> Page I of 4 <br /> <br /> ~ In consideration of Five Hundred Dollars ($500.00) paid to Waste Management <br />of M~nnesota, Inc, at P.O. Box 67, Anoka, Minnesota 55303 ("Seller"), receipt of which is <br />herel~Y acknowledged, Seller hereby gives and grants to The City of Ramsey, a municipal <br />corporation, under the laws of the State of Minnesota, 15153 Nowthen Boulevard NW, Ramsey, <br />Minnesota 55303 ("Purchaser"), and its assigns, the exclusive option to purchase either of the real <br /> ? <br />propgrties of Seller situated in the City of Ramsey, County of Anoka, State of Minnesota, and <br />leggy described as <br /> <br /> The East 500 feet of South 200 feet (as measured along East and South lines <br /> thereof) of Northeast Quarter of Southeast Quarter of Section 27-32-25; excluding <br /> mad; subject to easement of record, <br /> <br /> <br />