My WebLink
|
Help
|
About
|
Sign Out
Home
01/08/13
Ramsey
>
Public
>
Dissolved Boards/Commissions/Committees
>
Housing & Redevelopment Authority
>
Agendas
>
2010's
>
2013
>
01/08/13
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/18/2025 11:23:08 AM
Creation date
1/10/2013 1:40:38 PM
Metadata
Fields
Template:
Meetings
Meeting Document Type
Agenda
Document Title
Housing & Redevelopment Authority
Document Date
01/08/2013
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
88
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
EXHIBIT A <br />FILE NO. <br />ESCROW AGREEMENT <br />The Housing and Redevelopment Authority in and for the City of Ramsey, Minnesota, a <br />public body politic and corporate under the laws of the State of Minnesota ("Seller"), Edgewood <br />Management Group, a North Dakota limited liability company ("Buyer") are parties to the <br />purchase and sale of the real estate described in the attached Purchase Agreement, dated <br />, 2012 ("Purchase Agreement"). As provided in Section 7 of the Purchase <br />Agreement, Buyer hereby deposits the sum of $10,000.00 (the "Earnest Money") with <br />Commercial Partners Title, LLC (the "Earnest Money Agent"). The Earnest Money Agent will <br />hold the Earnest Money in an account insured by a governmental agency or instrumentality. <br />Upon notification by both parties in writing that the transaction has closed, the Earnest <br />Money Agent will pay the Earnest Money to Seller. If either party notifies the Earnest Money <br />Agent that the transaction has not closed, the Earnest Money Agent will pay the Earnest Money <br />as follows: <br />1. Upon receipt of instruments regarding the release of the Earnest Money executed <br />by both parties the Earnest Money Agent will deliver the Earnest Money pursuant <br />to such instructions; <br />2. If Seller delivers a Notice of Cancellation of Purchase Agreement that complies <br />with Minn. Stat. § 559.21 describing the Purchase Agreement and the Property, as <br />defined therein, together with an Affidavit of Service evidencing service of the <br />Notice of Cancellation on Buyer and an Affidavit of Failure to Comply with <br />Notice completed, executed and acknowledged to the Earnest Money Agent on or <br />before the date one hundred twenty (120) days after the Date of Closing as <br />defined in the Purchase Agreement, the Earnest Money Agent will deliver the <br />Earnest Money to Seller, unless Buyer has commenced an action in Anoka <br />County District Court challenging Seller's cancellation of the Purchase <br />Agreement, in which case Earnest Money Agent shall either continue to hold the <br />Earnest Money or shall pay the Earnest Money into court. <br />3. If no disposition of the Earnest Money has been made by the date one hundred <br />twenty (120) days from the Date of Closing, as defined in the Purchase <br />Agreement, the Earnest Money Agent will return the Earnest Money to Buyer, <br />unless Seller or Buyer has commenced an action in Anoka County District Court <br />holding a right to the Earnest Money or otherwise seeking to enjoin Earnest <br />Money Agent's disbursement of the Earnest Money to Buyer, in which case, <br />Earnest Money Agent will either continue to hold the Earnest Money or shall pay <br />the Earnest Money into court. <br />The Earnest Money Agent will have no responsibility for any decision concerning <br />performance or effectiveness of the Purchase Agreement, and will only be responsible to act <br />D-1 <br />4937063v3 <br />
The URL can be used to link to this page
Your browser does not support the video tag.