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Form No, 262 {Oct 88j Wa~le~ S Booth
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<br />MINNESOTA STANDARD RESIDENTIAL PURCHASE AGREEMENT
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<br />¢~Copynght 1988, Dy Hennepin County Bar Association, Minneapohs, Minnesom.
<br />BEFORE YOU USE OR SIGN THIS CONTRACT, YOU SHOULD CONSULT WITH AN A'I-rORNEY TO DETERMINE THAT TH!S CONTRACT
<br />ADEOUATELY PROTECTS YOUR LEGAL RIGHTS. Hennepin County Bar Association disclaims any liability arising out of use of this form.
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<br /> I. 1, PARTIES, This Purchase Agreement is made on February ,"~' , 19 89 , by and ba~'ean
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<br />'2. (Name) Stephen Holasek and Gloria Holasek: husband and w{fe ,of
<br /> (marital status)
<br />3. (Address) 5720 N.W. 148th Lane, Rmm.~ey; Mtnnp.~mta SELLER, AND
<br /> as ioint tenants !striKe 'ioint tenants"
<br /> 4. (Name) City of R~msey, a Municipal corporation iflenanc,v-in-commonisintenoedl OF
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<br /> 5. (Address)iS153 Nowthen Boulevard: R~m.qey; H~nnmsotm ,BUYER.
<br /> 6. 2. OFFER/ACCEPTANCE, Buyer offers to purchase and Seller agrees to sell real property ~egaHy described as
<br /> 7. . See attached T.e~al D~.q~rtnt~nn
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<br />9. Iocatedat(~~) Now~hcn Boule¥~rd and 15$rd Avenue N,W,
<br />10. City of Ramsey County of, Anoka State of Minnesota
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<br />11. 3, ACCEPTANCE DEADLINE, This offer to purchase, unless accepted sooner, shall be null and void at 11:59 P.M.
<br />12. (date) and in such event all earnest money shall be refunded to Buyer.
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<br />13. 4. PERSONAL PROPERTY AND FIXTURES INCLUDED IN SALE, The following items of personal property and fixtures owned by Seller and
<br />14. currently located on the property are included in this sale [Strike out items not included]: garden bulbs, plants, shrubs, trees, storm windows and
<br />15. inserts, storm doors, screens, awnings, window shades, blinds, curtain-traverse-drapery rods, attached lighting fixtures with bulbs, plumbing fixtures,
<br />16. sump pumps, water heaters, heating systems, heating stoves, fireplace inserts, fireplace doors and screens, built-in humidifiers, built-in air condition-
<br />17. lng units, built-in electronic air filters, automatic garage door openers with controls, television antennas, water softeners, built-in dishwashers, garbage
<br />18. disposals, built-in trash compactors, built-in ovens and cooking stoves, hood-fans, intercoms, installed carpeting, work benches, security systems,
<br />19. and also the following property No~e
<br />20.
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<br /> 21. Upon delivery of the deed, Seller shall also deliver a Bill of Sale for the above personal property.
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<br /> 22. 5. PRICE AND TERMS. The price for the real and personal property included in this sale is K-{-,rl-V q'hnt~$,~r~r] ~r'] ~(~/] Df) - - -
<br />.23. ' - 'Dollars(S 60;000.00 )
<br /> 24. which Buyer shall pay as follows: Earnest money of $ .5 00.00 by (cash;:CX, XC~C~X'~,~,:Xi%"X;~:~.
<br /> 25. receipt of which is hereby acknowledged (1o be deposited the next business day after acceptance in trust account of listing broker, unless otherwise
<br /> 26. specified in writing) ands 59.;500.00 cash on Apr~_] 1: 1989 , the DATE OF CLOSING,
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<br />28. 6, DEED/MARKETABLE TITLE. Upon performance by Buyer, Seller shall execute and deliver a ... Warranty
<br />29. Deed, joined in by spouse, if any, conveying marketable title, subject to:
<br />30. (A) Building and zoning laws, ordinances, state and federal regulations;
<br />31. (B) Restrictions relating to use or improvement of the property without effective forfeiture provisions;
<br />32. (C)Reservation of any mineral rights by the State of Minnesota;
<br />33. (D) Utility and drainage easements which do not interfere with existing improvements;
<br />34. (E) Exceptions to title which constitute encumbrances, restrictions, or easements.which have been disclosed to Buyer and accepted
<br />25. by Buyer in this Purchase Agreement: (Must be specified in writing.), m one - '
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<br />7. REAL ESTATE TAXES AND SPECIAL ASSESSMENTS. Real estate taxes due and payable in and for the year of closing shall be prorated
<br />between Seller and Buyer on a calendar year basis to the actual date of closing, unless otherwise provided in this Agreement.
<br />[Strike out one.'] BUYER AND SELLER SHALL PRORATE AS OFTHE DATE OF CLOSING/-'~c~t~R~ on Date of Closing all installments
<br />of special assessments certified for payment with the real estate taxes due and payable in the year of closing.
<br />[StriKe out one:] I~"'I~;:Ei~$~:MC~I~E,./SELLER SHALL PAY ON DATE OF CLOSING all other special assessments levied as of the date of this
<br />agreement.
<br />[Strike out one:] BUYER SHALL ASSUMF_.~ '~£ special assessments pending as of the date of this
<br />agreement for improvements that have been ordered by the City Council or other governmental assessing authorities. (Seller's provision for payment
<br />shall be by payment into escrow of 1~.'~ times the estimated amount of the assessments.) As of the date of this Agreement. Selier re~resents that Seller
<br />has not received a Notice of Hearing of a new public improvement project from any governmental assessing authority, the costs of which proiect may
<br />be assessed against the properly. If a special assessment becomes pending after the date of this Agreement and before the pate of closing. Buyer
<br />may. at Buyer's option:
<br /> A. Assume payment of the pending special assessment without adjustment to the purchase agreement price of the propenS,: or,
<br /> B. Require Seller to pay the pending special assessmer~ (or escrow for payment of same as provided above) and Buyer shall pay a commens-
<br /> urate increase in the purchase price of the property, which increase shall be the same as the estimated amount of the assessment: or.
<br />C. Declare this Agreement null and void by notice to Seller, and earnest money shall be refunded to Buyer.
<br />[Srrik'e ou', one:J ~I~Y~I~ELLER SHALL PAY ON DATE OF CLOSING any deferred real estate taxes or special assessments
<br />payment of which is required as a result of the closing of this sale.
<br />Buyer shall pay real estate taxes due and payable in the year following closing and thereafter and any unpaid special assessments payable therewith
<br />and thereafter, the payment of which is not otherwise provided herein. Seller warrants that taxes due and payable in the year(s) ] c) ~ 9
<br />will be kr-'jtr/A~,v,~l~'~ NON-/state which) homestead classification. Seller makes no representation concerning the amount of future real estate taxes
<br />or of future special assessments.
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<br />8. DAMAGES TO REAL PROPERTY. If the real property is substantially damaged prior to closing, this Agreement shall terminate and the earnest
<br />money shall be refunded to Buyer. If the real property, is damaged materially but less than substantially prior to closing. Buyer may rescind mis
<br />Agreement. by notice to Seller within twenty-one (21) days after Seller notifies Buyer of such damage, during which 21-day period Buyer may inspect
<br />the real property, and in the event of such rescission, the earnest money shall be refunded to Buyer.
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<br />g, SELLER'S BOUNDARY LINq=_ ACCESS. RESTRICTIONS AND ~_'EN WARRANTIES, Seller warran~ ~,at buildin;[ if any. am entirely within
<br />the bouncaw lines of the prope~/. Setter wa,~nts ~at 'mere is a ri_~-d-r: of access ~o me rea[ D,'~perty from a public rign; of way. Seller warr, ar~s that
<br />mere has been no labor or material furnished to the prooerb/ for whicm payment has not ~_hee~_.n made. Sel~r wa.rr..an~ bnat t~.'cere are no .ri_resent
<br />wolations of any restrim~ons related to tme use or improvemen; cf 'me p,"ome~¢. These wa,,"ra,"mes anal; s,drvr~,e ~e dei~vew of ~ne oeec cT cu,-,[r,~ for,
<br />oeec.
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<br />10, CONDITION OF PROPERTY, ~ _ .
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<br />~=~:'C[/d;~ Seller shall remove all 0eDris cna ali personal D~De~' nO~ incluaed in this sale from the oro~m/~fore Possession
<br />any trees o~ the DroPe~y
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<br /> Seller's warranties and reoresentat~ons contained m tms oaragraDh, 10 s,bati suwive the delivery of the Dee~ or Contra;: for Deed. Provided mat
<br />-.~ an,., not,ce of a oeie.c: o: blah'r, o! preach of ,;,'arran,":' mus". De. ~m wr,;~ng a.,qc g~ven my 5uyer to Seiier wit,'llp one year of the cate of c~ostng or De deemed
<br />-- waived.
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<br />-.: Buyer. snail nave the rlcn~, lc nave iqsDeclfon5 of the oroDe..'T,' conducted Dr~cr ',c ClOSlnc.. Un:imco .... r¢:Ou,.rm~c ~k%' losS', ordinance
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