Agenda - Council - 04/24/2018 - Laserfiche WebLink

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FIRST AMENDMENT TO PURCHASE AGREEMENT This is the First Amendment to the Purchase Agreement by and between the City of Ramsey, a Minnesota municipal corporation ("Seller"), and CAP Acquisitions, LLC, a Washington Limited Liability Company ("Buyer"), dated September 26, 2017. Recitals 1. The Buyer desires to update the legal description for the property. a. The first paragraph of item 2 is modified as follows: SALE OF PROPERTY. Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller, a rectarr6ukir parcel of approximately 11.2 (+/ ) acres vacant land at the southwest corner of West Ramsey Parkway and East Town Center Drive in Rairzgas Minnesota, which x— hown on the survey and concept plan attached hereto as Ex-kibit A, ig anticipated to consist of portions of: (i) Outlot Q, Ran cy Town Center Addition; (ii) Tracts A, D and E of Registered Land Survey No. 211, and (iii) West Town Center Drive (to be vacated and/or relocated), all in Anoka County, Minnesota (hereinafter collectively the "Property"). Buyer is responsible for subdividing and re platting Property, providing the City of Ramsey with a legal description of the new parcel, and an official parcel size; after which, this Ag otimnt Dhwll b: -a ceded to reflect the exact legal description of the Property (as well as the exact Purchase Price, defined in P h 3 b 9 w 3.35652 acres of vacant land legally described as follows: Lot 1. Block 1. Affinity at The COR. Anoka County. Minnesota. 2. The Buyer desires to update the purchase price for the property. a. The first paragraph of item 3 is modified as follows: PURCHASE PRICE. The purchase price for the Property is $4.00 per square foot or $584.840.045 total (the "Purchase Price"). Buyer intends to purchase approximately 3.35652 (+/ ) acres of land., to be finalized through subdividing and re platting the Property (as described in 2 ab ), Agreement Page 1 of 4