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PURCHASE AGREEMENT <br />RAMSEY, MINNESOTA <br />Dated: June , 2013 (the "Effective Date") <br />1. PARTIES. The parties to this Purchase Agreement (this "Agreement") are: <br />a. The City of Ramsey, a Minnesota Municipal Corporation Ramsey <br />Municipal Center, 7550 Sunwood Drive, Ramsey, Minnesota, 55303, Attention: Mr. Kurt <br />Ulrich, City Administrator (the "SELLER"); and <br />b. DGI Holdings, LLC, a Minnesota limited liability company, 14350 <br />Azurite Street NW, Ramsey, Minnesota 55303 (the "BUYER"). <br />This Agreement sometimes refers to SELLER and BUYER individually as a "Party" and <br />collectively as the "Parties". <br />2. OFFER/ACCEPTANCE. BUYER agrees to purchase and SELLER agrees to <br />sell on the terms of this Agreement an approximate 4.8 acre unimproved tract of land commonly <br />known as 14280 Azurite Street NW, Ramsey, Minnesota, 55303, which tract of land is legally <br />described as Lot 1, Block 1, SUNFISH LAKE BUSINESS PARK FOURTH ADDITION, Anoka <br />County, Minnesota (the "Property") <br />3. ACCEPTANCE DATE. The acceptance date of this Agreement is the date it is <br />signed by the last party signing. <br />4. PURCHASE PRICE. The purchase price for the Property is Four Hundred Ten <br />Thousand and 00/100 Dollars ($410,000.00) (the "Purchase Price"). <br />5. EARNEST MONEY. Concurrently with the execution hereof BUYER shall <br />deposit with SELLER the amount of $10,000.00 as Earnest Money hereunder ("Earnest <br />Money"). SELLER may commingle the Earnest Money with other funds of SELLER. Earnest <br />Money in the possession of Seller remains the property of BUYER until paid to SELLER <br />pursuant to Section 7 below or until BUYER defaults in the performance of BUYER's <br />obligations under this Agreement and SELLER cancels this Agreement pursuant to the <br />provisions of Section 16 below, in which case SELLER may retain the Earnest Money as <br />liquidated damages. If SELLER defaults in the performance of SELLER's obligations under this <br />Agreement, BUYER may terminate this Agreement pursuant to the provisions of Section 17 <br />below, and SELLER must return the Earnest Money to BUYER. <br />6. THE DATE OF CLOSING. The "Date of Closing" is July 17, 2013, subject to <br />any necessary extensions pursuant to Section 10. <br />7. CLOSING. The Parties will meet at the offices of Registered Abstracters, Inc. <br />(the "Title Company"), 2115 N. Third Avenue, Anoka, MN at 10:00 a.m. on the Date of Closing <br />at which time: <br />a. SELLER must: <br />9885655v2 1 <br />