Agenda - Council - 04/28/2015 - Laserfiche WebLink

Home

LAND EXCHANGE AGREEMENT This Agreement is entered into by and between the City of Ramsey, a Minnesota municipal corporation, and Meadow Creek Builders, Inc., a Minnesota corporation. In consideration of the mutual covenants set forth below and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the City and Meadow Creek agree as follows: 1. EFFECTIVE DATE. The effective date of this Agreement is 2. EXCHANGE OF PROPERTY. a. The City owns the following property: 15240 Helium Street N.W., Ramey, PID 23-32-25-41-0035, legally described as Lot 21, Block 1, MEADOW, Anoka County, Minnesota (the "Helium Parcel"). b. Meadow Creek owns the following properties: 15208 Krypton Terrace N.W., Ramsey, PID 23-32-25-42-0032, legally described as Lot 1, Block 2, MEADOW, Anoka County, Minnesota, and [no house number] Krypton Terrace N.W., PID 23-32-25-42-0039, legally described as Outlot A, MEADOW, Anoka County, Minnesota (collectively, the "Krypton Parcels"). c. The Helium Parcel was utilized as the eastern entrance/exit for the former municipal site and Fire Station No. 2. The Krypton Parcels were utilized as the western entrance/exit for the same site. The City and Meadow Creek wish to exchange the Helium Parcel for the Krypton Parcels. d. The term "Seller" is used below to refer to the party who currently owns its respective parcel(s), and the term "Buyer" refer to the party seeking to purchase the other party's parcel(s). 3. PURCHASE PRICE. The parties agree to exchange the Krypton Parcels for the Helium Parcel without additional consideration, subject to the terms of this Agreement. 4. EARNEST MONEY. No Earnest Money is to be exchanged by the parties. 5. TITLE COMMITMENT. a. Unless otherwise agreed to by the Parties, Title 1, 7535 Sunwood Drive, Ramsey, MN 55303, shall be the Title Company and Escrow Agent for this transaction.