Laserfiche WebLink
OPTION TO PURCHASE REAL PROPERTY DESCRIBED AS <br />LO~ 1, BLOCK 1, GATEWAY NORTH INDUSTRIAL PARK PLAT 4 <br /> <br /> In con~ideration of Five Hundred Dollars ($500.00) paid to ANOKA INDUSTRIAL <br />PARK, INC. aX 2641 Lake George Drive, Cedar, MN 55011 ("Seller"), receipt of which is <br />hereby acknowledged, Seller hereby gives and grants to THE CITY OF RAMSEY, a municipal <br />corporation, un'er the laws of the State of Minnesota, 15153 Nowthen Boulevard NW, Ramsey, <br />Minnesota 553~3 ("Purchaser"), and its assigns, the exclusive option to purchase the real properb' <br />of Seller situa!ed in the City of Ramsey, County of Anoka, State of Minnesota, and legally <br />described as Lc~t 1, Block 1, Gateway North Industrial Park Plat zl, together with the buildings and <br />all other ~mproVements thereon, all easements, fights of way, and appurtenances thereto, and all of <br />Seller's right, t{tle, and interest in all public ways adjoining the property. The real property <br />described above is hereinafter referred to as the ("Subject Proper~y"). <br /> This option is given on the following terms and conditions· <br /> <br /> SECTION ONE <br /> PRICE AND TERMS OF PAYMENT <br /> <br /> The purchase price for the Subject Property shall be Twenty Thousand Dollars <br />($20,000.00) which shall be paid, on exercise of this option by Purchaser, as follows: Cash on <br />the Closing Date. <br /> <br /> SECTION TWO <br /> PERIOD OF OPTION AND EXTENSION <br /> This option may be exercised by giving notice thereof to Seller at 2641 Lake George Drive, <br />Cedar, MN 550} 1, at any time during the pr/mary period from the date of this instrument until <br />12:00 o'clock A.M., September 1, 1994; or dufing the extension per/od, if the option is <br />extended as herdin provided, until 12:00 o'clock A.M., N/A , 1994. The option may be <br />so extended by ~urchaser giving Seller written notice of extension prior to the termination of the <br />prima-D' period, amd paying to Seller at the rime of the notice, the additional consideration of <br /> N/A i Dollars ($ ~/A ). <br /> <br /> SECTION THREE <br /> TITLE <br /> If the opgon is exercised, Seller shall, within 60 days after the delivery to Seller of the <br />notice of exercisg, secure and submit to Purchaser, for examination by its attorneys, evidence of <br />marketable title ~ the Subject Property by Abstract of Title or a Commitment for Title Insurance <br /> <br />Page 1 of 4 <br /> <br /> <br />