Agenda - Council - 02/11/2014 - Laserfiche WebLink

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PURCHASE AGREEMENT: VACANT LAND (RESIDENTIAL) 175. Page 5 Date o1/06/14 176. Property located at TBD Ramsey 55303 177. BUSINESS DAYS: "Business Days" are days which are not Saturdays, Sundays or state or federal holidays unless 178. stated elsewhere by the parties in writing. 179. DEFAULT: If Buyer defaults in any of the agreements herein, Seller may cancel this Purchase Agreement, and any 180. payments made hereunder, including earnest money, shall be retained by Seller as liquidated damages and Buyer 181. and Seller shall affirm the same by a written cancellation agreement. 182. If Buyer defaults in any of the agreements hereunder, Seller may terminate this Purchase Agreement under the 183. provisions of either MN Statute 559.21 or MN Statute 559.217, whichever is applicable. If either Buyer or Seller defaults 184. in any of the agreements hereunder or there exists an unfulfilled condition after the date specified for fulfillment, 185. either party may cancel this Purchase Agreement under MN Statute 559.217, Subd. 3. Whenever it is provided herein 186. that this Purchase Agreement is canceled, said language shall be deemed a provision authorizing a Declaratory 187. Cancellation under MN Statute 559.217, Subd. 4. 188. If this Purchase Agreement is not canceled or terminated as provided hereunder, Buyer or Seller may seek actual 189. damages for breach of this Purchase Agreement or specific performance of this Purchase Agreement; and, as to 190. specific performance, such action must be commenced within six (6) months after such right of action arises. 191. NOTICE REGARDING AIRPORT ZONING REGULATIONS: The Property may be in or near an airport safety zone 192. with zoning regulations adopted by the governing body that may affect the Property, Such zoning regulations are 193. filed with the county recorder in each county where the zoned area is located. If you would like to determine if such 194. zoning regulations affect the Property, you should contact the county recorder where the zoned area is located. 195. NOTICE REGARDING PREDATORY OFFENDER INFORMATION: Information regarding the predatory offender 196. registry and persons registered with the predatory offender registry under MN Statute 243.166 may be 197. obtained by contacting the local law enforcement offices in the community where the Property is located 198. or the Minnesota Department of Corrections at (651) 361-7200, or from the Department of Corrections web 199. site at www.corr.state.mn.us. 200. SPECIAL DISCLOSURES: Seller discloses, to the best of Seller's knowledge, that the Property described in this 201. Purchase Agreement consists of approximately 202. 203. 204. 205. 206. 3 .1 n ACRES n SQUARE FEET and is currently zoned (Check one.) - Single Family Residential Seller discloses, to the best of Seller's knowledge, that the Property area. Seller discloses, to the best of Seller's knowledge, that the Property X❑ DOES ❑ DOES NOT currently receive (Check o .) preferential tax treatment __ : �m IS n IS NOT in a designated flood plain (Check one.)- Pi 207. BUYER HAS THE RIGHT TO A WALK-THROUGH REVIEW OF THE ' ROPERTY PRIOR TO CLOSING TO 208. ESTABLISH THAT THE PROPERTY IS IN SUBSTANTIALLY THE SAME CONDITION AS OF THE DATE OF THIS 209. PURCHASE AGREEMENT. 210. BUYER HAS RECEIVED A (check any that apply): ❑X DISCLOSURE STATEMENT: VACANT LAND OR A 211. E DISCLOSURE STATEMENT. SELLER'S DISCLOSURE ALTERNATIVES FORM. 212. DESCRIPTION OF PROPERTY CONDITION: See Vacant Land Disclosure Statement or Seller's Disclosure 213. Alternatives for description of disclosure responsibilities and limitations, if any. 214. BUYER HAS RECEIVED THE INSPECTION REPORTS, IF REQUIRED BY MUNICIPALITY. 215. BUYER IS NOT RELYING ON ANY ORAL REPRESENTATIONS REGARDING THE CONDITION OFTHE PROPERTY. 216 ENVIRONMENTAL CONCERNS: To the best of the Seller's knowledge there are no hazardous substances or 217. underground storage tanks, except where herein noted. 218. 219 220 MN:PA:VL-5 (8/13) /Qsta roans