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OPTION TO PURCHASE REAL PROPERTY DESCRIBED AS PIN 27-32-25-24-0001 <br /> <br /> In con~3deranon of One Hundred Dollars ($100.00) paid to ANOKA INDUSTRIAL <br />PARK, ][NC. ai 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~ler the laws of the State of Minnesota, 15153 Nowthen Boulevard NW, Ramsey, <br />Minnesota 55303 ("Purchaser"), and its assigns, the exclusive option to purchase the real property <br />of Seller situa~d in the City of Ramsey, County of Anoka, State of Minnesota, and legally <br />described as Al! that part of the South Half of the Northwest Quarter of Section 27, Township 32 <br />North, Range 2~ West, Anoka Count5,, Minnesota, lying Northerly of the Northerly Right-of-Way <br />line of Anoka C~ unty Highway Right-of-Way Plat No. 8. <br /> , together with the buildings and all other improvements thereon, all easements, rights of <br />way, and appurtenances thereto, and all of Seller's right, title, and interest in all public ways <br />adjoining the pr(bperty. The real property described above is hereinafter referred to as the ("Subject <br />Property"). <br /> This opt!on 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 Five Thousand Dollars <br />($25,000.00) wl~ich shall be paid, on exercise of this option by Purchaser, as follows: Cash on <br />the Closing Date~, <br /> <br />SECTION TWO <br /> <br /> PERIOD OF OPTION AND EXTENSION <br /> <br /> This option may be exercised by giving notice thereof to Seller at 2641 Lake George Drive, <br />Cedar, MN 5501~1, at any time during the primary period from the date of this instrument until <br />12:00 o'clock ~.M., September 1, 1994; or during the extension period, if the option is <br />extended as herein provided, until 12:00 o'clock A.M.,. N/A , 1994. The option may be <br />so extended by PBrchaser giving Seller written notice of extension prior to the termination of the <br />primary period, a~hd paying to Seller at the time of the notice, the additional consideration of <br /> N/A ~... Dollars ($. N/A ). <br /> <br />Page 1 of 4 <br /> <br /> <br />