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PURCHASE AGREEMENT <br />This Agreement is entered into by and between the PSD LLC, a Minnesota Limited <br />Liability Company ("Seller"), and City of Ramsey, a Minnesota municipal corporation <br />("Buyer"). <br />In consideration of the Earnest Money, the mutual covenants set forth below, and other <br />good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, <br />Seller and Buyer agree as follows: <br />1. EFFECTIVE DATE. The effective date of this Agreement is March 12, 2019 (the <br />"Effective Date"). <br />2. SALE OF PROPERTY. Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller <br />2.86 acres of vacant land, legally described as follows: <br />That part of OUTLOT A, RAMSEY TOWN CENTER 13TH ADDITION, Anoka County, <br />Minnesota lying southerly and westerly of the following described line and its extensions: <br />Beginning at the Southwest corner of OUTLOT B, said RAMSEY TOWN CENTER <br />13TH ADDITION; thence North 90 degrees 00 minutes 00 seconds East assumed bearing <br />along the South line of said OUTLOT B a distance of 177.65 feet to the Southeast corner <br />of said OUTLOT B; thence South 00 degrees 00 minutes 00 seconds East a distance of <br />68.63 feet; thence North 81 degrees 21 minutes 19 seconds East a distance of 110.63 feet; <br />thence easterly along a tangential curve concave to the south a distance of 21.14 feet, said <br />curve having a radius of 140.00 feet and a central angle of 08 degrees 39 minutes 03 <br />seconds; thence South 89 degrees 59 minutes 38 seconds East, tangent to last described <br />curve, a distance of 288.39 feet to a point on the East line of said OUTLOT A, said point <br />being distant 326.97 feet north of the southeast corner of said OUTLOT A, as measured <br />along said east line and said line there terminating.(the "Property") <br />Address: XXX Rhinestone Street NW, Ramsey, MN 55303. <br />Anoka County Property Identification: Part of 28-32-25-41-0011; <br />3. PURCHASE PRICE. The purchase price for the Property is <br />(About $1.00 right now) (the "Purchase Price"). <br />Page 1 of 11 <br />$INSERT NET Sale Price <br />