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Agenda - Economic Development Authority - 08/10/2017
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Agenda - Economic Development Authority - 08/10/2017
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3/17/2025 2:14:51 PM
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9/8/2017 8:35:57 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
08/10/2017
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days after they are mailed via certified mail, return receipt requested or, if delivered in <br />any other manner, when the party to whom the notice is directed actually receives the <br />notice. If delivered at the Closing, a notice shall be deemed given when hand -delivered <br />to the party's representative at the Closing. The business addresses of the parties are as <br />follows: <br />Seller: <br />Buyer: <br />City Administrator <br />City of Ramsey <br />7550 Sunwood Drive N.W. <br />Ramsey, MN 55303 <br />Dennis Sharp <br />Maple Investments, LLC <br />500 Bunker Lake Boulevard <br />Anoka, Minnesota 55303 <br />Notices not given in the manner or within the time limits set forth in this Agreement are <br />of no effect and may be disregarded by the party to whom they are directed. <br />14. CLOSING. This transaction shall close on the date agreed to by Buyer and Seller, which <br />shall be on a date no more than thirty (30) days after Buyer delivers a Notice of <br />Suitability to Seller or on such earlier date as Seller and Buyer may establish by mutual,. <br />written agreement. The Closing shall take place at the offices of the Escrow Agent, or at <br />some other place as the parties may mutually agree prior to such date. At the option of <br />either Party, the executed closing documents, Purchase Price and closing costs may be <br />deposited with the Escrow Agent and disbursed by the Escrow Agent pursuant to avoid <br />the necessity for a Closing at which the Parties are present. <br />a. Seller's Obligations at Closing. At Closing, Seller must deliver to Escrow Agent, <br />for delivery to Buyer: <br />i. A warranty deed, duly executed and acknowledged on behalf of the City <br />and with the City's seal affixed, conveying title to the Property, subject to <br />(A) the lien of real estate taxes, if any, not yet due and payable; (B) <br />Building, Subdivision and Zoning Ordinances; (C) Matters that would be <br />disclosed by an accurate survey of the Property; and (D) matters that <br />constitute Permitted Exceptions pursuant to Section 6; <br />ii. A certified copy of a duly adopted City Ordinance and Resolution <br />authorizing Seller's sale of the Property to Buyer; and <br />iii. Seller's affidavits, well disclosure certificate (if required), settlement <br />statement approved by Seller and Buyer, and any other documents <br />required by the Escrow Agent. <br />b. Buyer's Obligations at Closing. At Closing, Buyer must: <br />Page 7 of 13 <br />
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