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PURCHASE AGREEMENT <br /> <br /> I. PARTIES. This Agreement is made on this day of April, 2005 by and <br />between Ramsey Premier Partners, LLC, a Minnesota limited liability comany <br />("SELLER"), whose address is 6131 Highway 10 Northwest, Ramsey, Minnesota 55303, and <br />the CITY OF RAMSEY, a Minnesota municipal corporation, ("BUYER"), with address 15153 <br />Nowthcn Boulevard, Ramsey, Minnesota 55303. <br /> <br /> 2. OFFE1UACCEPTANCE. BUYER offers to purchase and SELLER agrees to <br />sell real property located at 6131 Highway 10 NW., Ramsey, Minnesota, 55303, Anoka County, <br />Minnesota (PIN: 35-32-25-0024) and legally described as: TRACT C, REGISTERED LAND <br />SURVEY NO. 156. The parties do not contemplate the conveyance of any personal property <br />pursuant to this Agreement. <br /> <br /> 3. ACCEPTANCE. The acceptance date of this Agreement is the date it is <br />dclivered by the last party signing to the other party. <br /> <br /> 4. PRICE. The Purchase Price for the Property is Two Hundred Forty One <br />Thousand and 00/100 Dollars ($241,000.00), ("Purchase Price"), payable at closing less earnest <br />money. <br /> <br /> 5. EARNEST MONEY. Concurrently with the execution hereof BUYER shall <br />dcposit with SELLER the amount of Two Thousand Dollars ($2,000.00) as Earnest Money <br />hereunder ("Earnest Money"). <br /> <br /> 6. DEED/MARKETABLE TITLE. Conveyance Terms. Upon BUYER'S full <br />pcrf~ormance of BUYER'S obligations under this Agreement, SELLER shall execute and deliver <br />to BUYER, on the date of closing, a Warranty Deed conveying fee title to the Property to <br />BUYER subject only to: <br /> <br />Building, zoning and subdivision statutes, laws, ordinances and <br />regulations. <br /> <br />Reservations of minerals or of mineral rights in favor of the State of <br />Minnesota, if any. <br /> <br />Co <br /> <br />The lien of real estate taxes and special assessments not yet due and <br />payable. <br /> <br />d. Covenants, conditions, restrictions and easements of record. <br /> <br /> 7. REVIEW PERIOD. Within five (5) days following the execution of this <br />Agreement, SELLER shall provide to BUYER copies of any Environmental Site Assessment <br />reports in its possession relating to the Property and/or any reports, notifications, or <br />correspondence of any kind from any governmental entities relating to environmental conditions <br /> <br /> <br />