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REAL ESTATE PURCHASE AGREEMENT
<br />CASEY'S RETAIL COMPANY
<br />One Convenience Boulevard S.E.
<br />Ankeny, IA 50021
<br />THIS IS A LEGALLY BINDING CONTRACT: IF NOT UNDERSTOOD, SEEK LEGAL ADVICE!
<br />Casey's Retail Company (hereinafter the "Buyer" or "Casey's"), hereby agrees to buy and The
<br />Housing and Redevelopment Authority in and for the City of Ramsey, Minnesota (hereinafter the
<br />"Seller") of 7550 Sunwood Drive, Ramsey, Minnesota, hereby agrees to sell that certain real estate
<br />(hereinafter the "Real Estate") located in or near the Town or City of Ramsey, Anoka County,
<br />Minnesota, described on Exhibit "A" attached hereto and by this reference incorporated herein, the
<br />street address or location of which is Sunwood Drive and Ramsey Blvd., and which has a lot size of
<br />approximately 270 feet by 221 feet, together with any easements and appurtenant servient estates and
<br />free from all liens and encumbrances, subject to only the following: (a) zoning and other ordinances
<br />acceptable to Buyer; (b) covenants of record acceptable to Buyer; and (c) easements of record for
<br />public utilities, roads and highways acceptable to Buyer; provided Buyer, on possession, is permitted
<br />to use the Real bistate to build and operate a convenience store which sells motor fuel, groceries, and
<br />prepared carry -out foods and has a package beer license, in accordance with Buyer's plan for
<br />development of the Real Estate. The terms and conditions of sale are as follows:
<br />1. Purchase Price. The Purchase Price shall be Five Hundred Ninety-six Thousand Seven
<br />Hundred Dollars ($596,700.00), payable at Anoka County, Minnesota, as follows:
<br />A. The sum of One Thousand Dollars ($1,000.00) shall be paid as a down payment, which
<br />shall be refundable to Casey's in the event this business transaction does not close. Said
<br />earnest money shall be made payable to Commercial Partners Title, LLC, Attn: Dave
<br />Hillart, 200 South Sixth Street, Ste. 1300, Minneapolis, Minnesota 55402.
<br />B. The entire balance of the Purchase Price remaining after the aforementioned payments
<br />have been made shall be paid in full at the Closing, upon delivery of a Warranty Deed,
<br />duly executed and in proper form, conveying full marketable title to the Real Estate.
<br />2. Closinz and Possession. Provided all contingencies and conditions to which this
<br />Agreement is subject have then been satisfied in full or waived in writing by the Buyer, the parties
<br />shall close this transaction on December 9, 2014 (the "Projected Date of Closing") or on such earlier
<br />date as the parties may agree. In the event that all of said conditions and contingencies have not been
<br />so satisfied or waived as of the Projected Date of Closing, then, subject to the remaining terms of this
<br />Agreement, the Buyer shall nevertheless continue to diligently pursue the satisfaction of such
<br />conditions and contingencies, and the Closing shall occur when all conditions and contingencies not
<br />waived have been met. However, if any such condition or contingency remains materially unsatisfied
<br />as of 90 days after the Projected Date of Closing and has not been waived by the Buyer, then in that
<br />event this Agreement shall be deemed terminated and of no further force or effect, unless the parties
<br />agree in writing to further extend this Agreement. Possession of the Real Estate shall be delivered to
<br />the Buyer on the actual date of Closing (the "Closing Date"). Any adjustments of rent, insurance, and
<br />interest shall be made as of such date. Seller agrees that it will make available to Buyer any payments,
<br />fees, disbursements, payoffs, etc. as set forth on Seller's portion of the closing statement.
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