Agenda - Council - 12/10/2019 - Laserfiche WebLink

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PURCHASE AGREEMENT THIRD AMENDMENT This is the Second Amendment is to the Purchase Agreement by and between AEON RAMSEY 2 LLC, a Minnesota limited liability corporation, and the CITY OF RAMSEY, a Minnesota municipal corporation, with an effective date of December 10, 2019. Recitals 1. Pursuant to the terms of the original Purchase Agreement and PurchaseAgreement First Amendment, the Closing Date is to be no later than October 13, 2019. 2. Pursuant to the terms of the Purchase Agreement Second Amendment the Closing Date was changed to be no later than January 13, 2020. 3. Buyer seeks to move the Closing Date to be no later than February 28, 2020. 4. Buyer completed its inspection during the Inspection Period, which is expired, and Buyer also completed its examination of title. Agreement In consideration for the mutual promises set forth below, the parties agree as follows: 1. The above recitals are incorporated into the Agreement. 2. The Closing Date is hereby extended from January 13, 2020 to February 28, 2020. 3. Buyer acknowledges that the Inspection Period expired on November 1, 2017. 4. Buyer acknowledges that its title examination pursuant to section 5 of the Purchase Agreement is completed. 5. Buyer acknowledges that its contingencies under paragraphs 6.2 (Title), 6.4 (Document Review) have been satisfied. However, the contingencies under paragraphs 6.5 (Government Approvals) and 6.6 (Financing) of the Purchase Agreement are not yet complete but will be satisfied by the Closing Date. 6. All other terms of the Purchase Agreement and Purchase Agreement, First Amendment and Second Amendment remain unchanged except to the extent inconsistent with this Third Amendment.