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Original Agreement <br />Copy2of3 <br />REAL ESTATE PURCHASE AGREEMENT <br />This agreement is made by and between the City of Ramsey (the "Seller"), and NIK <br />Management, Inc. a Minnesota corporation (the "Buyer"), its successors and/or assigns) effective <br />as of the last date signed by all parties below (the "Effective Date"). <br />In consideration of the parties' mutual covenants, undertakings and representations in this <br />Agreement and for other good and valuable consideration, the receipt and sufficiency of which <br />the parties acknowledge, the parties agree as follows: <br />1. Sale of Property. <br />a. Subject to paragraph 1(d) below, Seller agrees to sell to Buyer, and Buyer agrees <br />to purchase from Seller, all of Seller's rights, title, and interest in the real property <br />consisting of approximately 21.5 acres, located at 15240 Helium Street NW and <br />15153 Nowthen Boulevard NW, bearing PID Nos. 233225410035, <br />233225410019, 233225410018, the legal description of which is set forth in <br />Exhibit 1 to this agreement (the "Property"), together with (a) all easements, <br />privileges, and rights benefitting or appurtenant to the Property; and (b) without <br />limiting the foregoing all water, mineral and all other rights held by Seller and/or <br />which run with the land. <br />b. The Property shall be conveyed from Seller to Buyer in two parcels, the <br />approximate areas of which are illustrated in Exhibit 2. Parcel A is the southerly <br />parcel of approximately 14 acres. Parcel B is the northerly parcel of <br />approximately 7.5 acres. Within 60 days after the Effective Date of this <br />Agreement, Buyer shall obtain a survey at its expense depicting Parcel A and <br />Parcel B and setting forth the legal description for both. The survey and legal <br />descriptions shall be attached to and made part of this Agreement. <br />c. Parcel A and Parcel B shall be platted by Buyer at Buyer's expense as two <br />separate plats. Buyer shall submit an application for preliminary plat approval of <br />Parcel A within 60 days after receipt of the survey referenced above. <br />d. The sale of Parcel B is contingent upon Seller approving the construction of a new <br />fire station by April 30, 2015. In the event the City Council does not approve of <br />the new fire station project by that date, the sale of Parcel B shall be deemed null <br />and void and not part of this Agreement. <br />2. Property Demolition. As of the Effective Date, the former city hall, an existing fire <br />station, access roads, associated parking facilities, and a mound septic system exist on <br />Parcel B ("Existing Improvements"). The fire station will remain in use until a new fire <br />station is completed on a new site in 2016. Upon completion of the new fire station and <br />removal of all equipment from the existing fire station, the Seller shall demolish the <br />Existing Improvements at its expense and remove the resulting debris. The Seller is not <br />responsible for any changes to the existing grade on the site orany other site <br />improvements. <br />1 <br />