Agenda - Council - 07/22/2014 - Laserfiche WebLink

Home

ADDENDUM THIS ADDENDUM will be attached and made a part of the PURCHASE AND SALE CONTRACT OF REAL PROPERTY (the "Agreement") made and entered into by and between CITY OF RAMSEY and/or ASSIGNS (hereinafter "Seller") and IMPERIAL DEVELOPMENT COMPANY, LLC. and/or ASSIGNS (hereinafter "Purchaser"). Re: a certain tract of real property measuring approx. 160' of frontage on Hwy 47 South by 275' of depth for a total 1.01± acres, City of Ramsey, Anoka County, Minnesota, Section #6 (Inspection Period) is hereby amended to read as follows: INSPECTION PERIOD. For a period of one three hundred and sixty (360) days, Buyer shall have the privilege of going upon the Property as needed to confirm zoning, confirm availability of all utilities (including sewer), to inspect, examine, survey, make soil and subsoil tests, percolation tests, arrange financing for the proposed development and to otherwise do what Buyer reasonably deems necessary to determine, to Buyer's sole satisfaction, whether the Property is suitable for Buyer's intended development and use. If Buyer determines, in its sole discretion, that the Property is unsuitable for its proposed development and gives notice of this to Seller prior to the expiration of the Inspection Period, then this Agreement shall terminate and all earnest monies shall be immediately returned to the Buyer. If Buyer terminates this contract before the end of the initial Inspection Period, Buyer shall be entitled to the immediate return of the Earnest Money without the need of Seller's release. All other terms of the contract not modified by this Addendum shall remain in full force and effect. The acceptance of the above addendum to said PURCHASE AND SALE CONTRACT OF REAL PROPERTY is hereby indicated by the signatures below. PURCHASER(S): SELLER(S): IMPERIAL DEVELOMENT, LLC. CITY OF RAMSEY y: Sid Aultm As Its: Member Date: 7/1/14 As Its: Date: