Agenda - Council - 11/09/2004 - Laserfiche WebLink

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PURCHASE AGREEMENT 1. PARTIES. This Agreement is made this day of November, 2004 by and between Earnest R. Miller, Trustee of the Earnest R. Miller Revocable Trust U/A dated November 3, 2000 ("SELLER"), whose address is 1605-37" Avenue N.E., Minneapolis, Minnesota 55421 and the CITY OF RAMSEY, a Minnesota municipal corporation, ("BUYER"), with address 15153 Nowthen Boulevard, Ramsey, Minnesota 55303. 2. OFFER/ACCEPTANCE. BUYER offers to purchase and SELLER agrees to sell real property located at 6159 Highway 10 NW., Ramsey, Minnesota, 55303, Anoka County, Minnesota, legally described on the attached Exhibit A (the "Property"). The term "Property" as used in this Agreement shall include all improvements, fixtures, hereditaments and appurtenances to the Property including but not limited to mechanical, electrical, heating, air conditioning, drainage, sewer, water, plumbing and roofing systems, if any. Except as specifically provided in this Agreement, the Property is conveyed in its "as is" condition. The parties do not contemplate the conveyance of any personal property pursuant to this Agreement. 3. ACCEPTANCE. The acceptance date of this Agreement is the date it is delivered by the last party signing to the other party. 4. PRICE. The Purchase Price for the Property is Three Hundred Forty Thousand and 00/100 Dollars ($340,000.00), ("Purchase Price"), payable in cash at Closing. 5. EARNEST MONEY. Concurrently with the execution hereof BUYER shall deposit with SELLER the amount of Five Thousand Dollars ($5,000.00) as Earnest Money hereunder ("Earnest Money"). The Earnest Money shall be applied to the Purchase Price at Closing. 6. DEED/MARKETABLE TITLE. Conveyance Terms. Upon BUYER'S full performance of BUYER'S obligations under this Agreement, SELLER shall execute and deliver to BUYER, on the Closing Date, a Warranty Deed conveying fee title to the Property to BUYER, subject only to: a. Building, zoning and subdivision statutes, laws, ordinances and regulations. b. Reservations of minerals or of mineral rights in favor of the State of Minnesota, if any. C. The lien of real estate taxes and special assessments except to the extent payable by Seller in accordance with the terms of this Agreement. d. Covenants, conditions, restrictions and easements of record.