Laserfiche WebLink
i OPTION TO PURCHASE REAL PROPERTY DESCRIBED AS <br />LOT 3, BLOCK 1, GATEWAY NORTH INDUSTRIAL PARK PLAT 4 <br /> <br /> In consideration of Five Hundred Dollars ($500.00) paid to ANOKA INDUSTRIAL <br /> INC. 4t 2641 Lake George Drive, Cedar, MN 55011 CSeller"), receipt of which is <br />PARK, <br />hereby acknowledged, Seller hereby gives and grants to THE CITY OF RAMSEY, a municipal <br />corporation, ur~der the laws of the State of Minnesota, 15153 Nowthen Boulevard NW, Ramsey, <br /> 553~3 ("Purchaser"), and its assigns, the exclusive option to purchase the real <br />Minnesota <br /> property <br />of Seller situa!ed in the City of Ramsey, County Of Anoka, State of Minnesota, and legally <br />described as Lc~.t 3, Block 1, Gateway North Industrial Park Plat 4, together with the buildings and <br />all other improvements thereon, all easements, rights of way, and appurtenances thereto, and all of <br />Seller's right, tfitle, and interest in all public ways adjoining the property. The real property <br /> <br />described above is hereinafter referred to as the ("Subject l:h-operty"). <br /> i. <br /> This op~mn is given on the following terms and conditions. <br /> <br /> SECTION ONE <br /> PRICE AND TERMS OF PAYMENT <br /> The purbhase price for the Subject Property shall be Seventy Five Thousand Dol}ars <br />($75,000.00) v~hich shall be paid, on exercise of this option by Purchaser, as follows: Cash on <br />the Closing Datg. <br /> <br /> SECTION TWO <br /> PERIOD OF OPTION AND EXTENSION <br /> This op~on may be exercised by giving notice thereof to Seller at 2641 Lake George Drive, <br />Cedar, MN 550~11, at any time during the primary period from the date of this instrument until <br />12:00 o'clock A.M., September 1, 1994; or during the extension period, if the option is <br />extended as herd~in provide& until 12:00 o'clock A.M., N/A , 1994. The option may be <br />so extended by Purchaser giving Seller written notice of extension prior to the termination of the <br />primary period, ~.nd paying to Seller at the time of the notice, the additional consideration of <br /> N/A ~ Dollars ($. N/A ). <br /> <br /> SECTION THREE <br /> TITLE <br /> <br /> If the opt, non is exercised, Seller shall, within 60 days after the deli.very to Seller of the <br />notice of exercise, secure and submit to Purchaser, for examination by its attorneys, evidence of <br />marketable title ~n the Subject Property by Abstract of Title or a Commitment for Title Insurance <br /> <br />Page I of 4 <br /> <br /> <br />