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PURCHASE ,AGREEMENT
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<br /> 1. PARTIES. This Agreement:is m~ade on this day of ,2005
<br />by and between ROBERT DEBEE, a single Pe~.~on, ("SELLER',), 1672 14th Avenue NW, New
<br />Brighton, Minnesota 55112, andlthe CITY-:OF ~,RAMSEY, a Minnesota municipal corporation,
<br />("BUYER"), 15153 Nowthen BoUlevard~ Ramsey; Minnesota 55303.
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<br /> 2. OFFER]ACCEPT~M~ICE, BUYER offers to purchase and SELLER agrees to sell
<br />real property located at 7060 - i43ra Av~nue ~, Ramsey, Minnesota, 55303, Anoka County,
<br />Minnesota, legally described as Eot 1, Blbek 2? GATEWAY NORTH INDUSTRIAL PARK,
<br />Anoka County, Minnesota (the "P~roperty")i iThe Yterm "Property" as used in this Agreement shall
<br />include all improvements, fixtureeo includ~g any.trade fixtures and, now existing on the date of
<br />closing, together with all hereditam, ents an{appu~enances to the Property including but not limited
<br />to all mechanical, electrical, heathig, air: eon~ditio~g, drainage, sewer, water, plumbing and roofing
<br />systems, if any. The parties do not contempl'ate :the conveyance of any personal property pursuant
<br />to this Agreement. ~
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<br /> 3. ACCEPTANCE. The acceptance date of this Agreement is the date it is delivered
<br />by the last party signing to the other party. .
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<br /> 4. PRICE. :The PurChase PriCe forlthe Property is One Hundred Seventy Thousand
<br />Dollars ($170,000.00), ("Purchase;Price"), PaYable in full at Closing.
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<br /> 5. EARNEST MONEY.: Coi~currently with the. execution hereof BUYER shall
<br />deposit with SELLER the amount of Two ThoUsand and 00/100 Dollars ($2,000.00) as Earnest
<br />Money hereunder ("Earnest Money~'). ~ ~
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<br /> 6. RELOCATION EXPENSES. In addition to the Purchase Price, SELLER is
<br />entitled to relocation expenses purs~uant to Minn. Statutes, Sections 117.50-56 commonly known as
<br />the Minnesota Uniform Relocation Act (the "MURA") SELLER'S relocation expenses will be
<br />negotiated between BUYER and SELLER !pUrsuant to the requirements of MURA, except that in
<br />the event the relocation expense to BUYER eXceeds $30,000.00, the BUYER, at its option, may
<br />declare this Purchase Agreement i hull and void and all earnest money paid hereunder shall be
<br />refunded to BUYER.
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<br /> 7. DEED/MARKETABLE TI[TLE~ Conveyance Terms. Upon BUYER'S full
<br />performance of BUYER'S obligations under, this Agreement, SELLER shall execute and deliver to
<br />BUYER, on the date of closing, a WarrantY Deed conveying fee title to the Property to BUYER,
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<br />subject only to:
<br />
<br /> a.
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<br /> b.
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<br />Building, zoning and Subdivision statutes, laws, ordinances and regulations.
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<br />Reservations of minerals or' of mineral rights in favor of. the State of
<br />Minnesota, ifa,ny.
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<br />The lien of real estate taxes land special assessments not yet due and payable.
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