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

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PURCHASE AGREEMENT This Agreement is entered into by and between the City of Ramsey, a Minnesota municipal corporation ("Seiler"), and Centra Homes LLC, a Nevada Limited Liability Company ("Buyer"). In consideration ofthe Earnest Money, the mutual covenants set forth below, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer agree as follows: t, EFFECTIVE DATE. The effective date of this Agreement is February 13, 2018 (the 'Effective Date"). 2. SALE 01? PROPERTY. Seller agrees to sell to Buyer. and Buyer agrees to buy from Seller 4.29 acres of vacant land at the southwest corner of Ramsey Boulevard and Bunker Lake Boulevard in Ramsey, Minnesota. Legal Description: THAT PRT OF OUTLOT B RAMSEY TOWN CENTER. 2ND ADD LYG Ei"_.Y OF FOL DESC LINE: COM AT NW COR OF SD OUTLOT, TH S 89 DEG 42 MIN 54 SEC E, ASSD BRG, ALO NLY LINE OF SD OUTLOT 607.10 FT TO POB OF SD LINE, TH S 247.47 TO SLY LINE OF SD 0UTLOT & SD LINE THERE TERM, SUBJ TO EASE OF REC, Anoka County Property Identification: 28-32-25-14-0094 Platting: Buyer is responsible for subdividing and rc-platting Property, providing the City of Ramsey with an updated legal description of the new parcel. This Agreement shall be amended to reflect the exact legal description of the Property. 3. PURCHASE PRICE. The purchase price for the Property is variable, as outlined in the table below. Upon completion of the Inspection Period (Section 9), and submission of the written Notice -to -Proceed, Buyer shall provide Seller with final purchase price, and this Agreement shall he amended accordingly. Seller has the right to reject a pm -chase price different than outlined below. PSF P Acre Purchase Price Layout #1, Exhibit A $ 1.76 $ 76,744.19 $ 330,OOO.00 I Layout )42, Exhiibst B $ 1.68 $ 73,255.61 $ 315,0010.00 Layout #13, Exhibit C $ 1.57 $ 68,6.65 $ 295,000.00 Page 1 of 12