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PURCHASE
<br />
<br />AGREEMENT
<br />
<br />Y ]':J~] d'.)%V-- q'vi p] ica t ~,
<br />
<br /> ................ ,A...n..o.k¢! ...................... Minn., ....A...~.g..U.~.~. ............................. ,19.8,.Q.
<br />
<br />RECf:,IVED OF .... COUNTZ...0E..ANOKA ................................................................................................................
<br />thc sum of..One...Th~u, sand...an&..z~o.Z10.0.v..-...-..-.. .............................................. ($1.,..00.0.,.0.0...) DOLLARS
<br />
<br />.... Audito~z.!s...Warrant ............................. as earnest money and in part payment [or the purchase of property at
<br />(Gheek, Gush, Lo be deposibed upon acceptance, or Note-- State Which)
<br />.... ( See...a.t.t~.ch.e.ct...1..e. 9.~3.....d...e..s...c.r..i.P..t..i..9..n..) ............................................................................ sit,ated in the
<br />County of....A...n..Q.k...a. ......................................................... , State of Minnesota, and legally described as follows, to-wit:
<br />
<br />(See attached legal description)
<br />
<br /> all of which property the undersigned has this day sold to the buyer for the sum of: *
<br /> ........................................................................................................................................ (-~ ........................ y-DOL~m~-
<br /> which he buyer agrees ~o pay in the following manner:
<br /> · the balance~ , ..$.~.p~ ..... ~.~.,....~.9.8.Q... the date of closing.
<br /> Earnc ,choy herein pa~d $ ~.,.000..-0.0.. ~nd ~ ........................ , sn, on .,
<br />
<br />Buye ~hall pa~ the second half taxes due in ~980 on the subject
<br />p~op Cy.
<br />
<br />Buyez agrees to pay all closing costs involved in the sale of the
<br />property herein,' including abstracting expenses, if any.
<br />
<br />* an amount equal to the delinquent taxes on the subject property and that
<br />property shown as Tract A on a document entitled Drawing & Descrip{ions
<br />for: City of Ramsey Across Sections 25 & 36, T32, R25, certified by Lynn
<br />P. Caswell on December 14, 1979, a copy of which is attached hereto.
<br />Such amount shall, at closing, be paid .to the County Treasurer in
<br />payment of said taxes.
<br />
<br /> Subject to performance by the buyer the seller agrees to execute and deliver a ....................................................................... Warranty Deed
<br /> (to he joined in by spouse, il' any) conveying marketable title to said premise~ subject only re the following exceptions:
<br /> (a) I3uildlnlz and zoning laws, ordinances, State and Federal regulations.
<br /> (b) Restrictio.s relating to use or improvement of premises without effective forfeiture provision.
<br /> (c) Reservation of any minerals or mineral rights to the State of Minnesota.
<br /> (d) Utility and drainage easements which do not interfere with present improvements.
<br /> (e) Ri.ehts of truants as follows: (unless specified, not subjec~ to tenancies)
<br />
<br /> will be ......... non- ............................... homestead classification
<br /> rue!-. ~,e-r~fee-v. Seller warrants that real estate taxes due in the year 19 8.0--(full, partial or non-homestead- state which)
<br /> Neither the seller nor the seller's aEc-n] make an)' representation or warranty whatsoever concerning the amount of real estate taxes
<br /> which shall he assessed against the property subsequent to the date of purchase. '
<br /> Seller covenants that buildings, if any, are entirely within the boundary, lines of the property and agrees to remove all personal property
<br /> nm inchMed herein and all debris from the premises prior to possession dare. SELLER WARRANTS ALL APPLIANCES, HEATING, AIR
<br /> CONDITIONING, ~qRING AND PLUMBING USED AND LOCATED ON SAID PREMISES AILE iN PROPER ",WORKING ORDER
<br /> AT DATE OF CLOSING.
<br /> The seller further ~.erees to deliver possession not later than date...o.f...closiiqg .... provided that all conditions of this
<br /> a.nreement }]ave bee, complied with. Unless othem, ise specified this sale shall be closed on or before 60 days from the date hereof.
<br /> In the event this property is destroyed or substantially damaged by fire or any other cause before the closing date, this agreement shall
<br /> becumc null and void, ar the purchaser's option, and all monies paid hereunder shall be refunded to him.
<br /> The buyer and seller also' mutually agree that pro rata adjustments of rents, interest, insurance and city 'z'ater, and, in the case of
<br /> income l, rolK'rty, current operating expenses, shall be made as of ..... date .of-.closin9 .................................................
<br /> The seller shall, within a reasonable time after approval of this agreement, furnish an abstract of title, or a Registered Ptotxrt3-
<br /> Abreact certified to date to include proper searches covering bankruptcies, and State and Federal judgments and liens. The buyer shah be
<br /> allowed 10 days after receipt thereof for examination of said title and the making of an)' objections thereto, said objections to be made in
<br /> wririn.g or deemed to be u.aived. If any objectiont are so made the seller shall be allowed 120 days to make such title marketable. PendinF
<br /> correction o~ title thc i,ayments heseunder required shall be postponed, but upon correction of title and wkhin 10 days after written notice
<br /> to the tmyer, the parties shall perform this agreement according to its terms.
<br /> 1[ said t/tie is not marketable and is not marie so within 120 days /rom the date of written objections thereto as above provided, this
<br /> &r:~-cn,cnt sh:d.l he null and void. at option of the buyer, an4_m-itber principal shall be liable for dama?es hereunder to the other principal.
<br /> Al! mouey thetemtote paid by the buyer shall be rek:nded. It the title to said property be found marketable or be so made '~.'hbin said r~me,
<br /> and said buyer shall deIauh in any of the agreements and continue in default for a period of 10 days, then and in that case the seller ma)'
<br /> terminate this contract and on such termination all the payments made upon this contract shall be retained by mid seller and said agent, as
<br /> their respective interests may a.pjx-ar, as liquidated damages, time being of the essence hereof. This provision shall not deprive either part'3' of
<br /> the right of enforcing the specmc performance of this contract provided such contract shall not be terminated as aforesaid, and provided a~ion
<br /> to enforce such specific performance shall be commenced within six months after such right of action shall arise.
<br /> it is understood and agreed that this sale is made subject to the approval by the owner of said premises in writing and that the under-
<br /> signed agent is in no manner liable or responsible on account of this agreement, except to return or account for the earnest money paid under
<br />
<br />this contract.
<br />The delivery of all papers and monies shall be made at the office of:
<br />
<br />-Anok.a.--Court l:y.- Alz.t orney~.s ..Office ........
<br />
<br /> l. the nndctsi.c:ned, owner of the above land, do hereby approve
<br />H, ~i,o~t' a.~,rt-esne~t and the sale ~heteby made.
<br />
<br />.............................................................. (SEAL)
<br /> Seller
<br />
<br />By ...................................................................................... Agent
<br />
<br /> I hereby agree to purchase the said propem), :~or ~bc price and
<br />upon the terms above mentioned, and subject tc ali
<br />herein expressed.
<br />
<br />Buyer
<br />
<br />
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