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DONATION AGREEMENT <br /> <br /> <br /> <br />T & G Land, Inc. <br /> This Donation Agreement is entered into by and between , a Minnesota <br />City of Ramsey <br />corporation (Donor), and the , a Minnesota municipal corporation. <br /> <br />Recitals <br /> <br /> <br />A.Donor owns the Property legally described as: <br />nd <br />Lot 1, Block 1, Pineview Estates 2 Addition, County of Anoka, State of Minnesota. <br />PID 28-32-25-12-0003 <br /> <br />B.Donor seeks to donate the Property to the City, and the City desires to accept said <br />donation, pursuant to the terms and conditions set forth in this Agreement. <br />Agreement <br /> Donation. <br />1. Donor hereby donates the Property to the City pursuant to the terms of this <br />Agreement. <br /> Property Value. <br />2. The parties agree that the market value of the Property, as determined <br />by an independent appraisal, is $ ______________. <br /> Contingencies. <br />3. The City’s acceptance of the donation of the Property is subject to the <br />following: <br /> <br />a.Completion of a Phase I environmental site assessment and written acceptance of <br />the results of that assessment by the City. <br /> <br />b.City’s receipt of a title commitment and acceptance of the condition of title, as <br />provided for below. <br /> <br />c.Approval of the donation by the City Council. <br /> Title Commitment. <br />4. Within 14 days after the date of the latest signature below, the City <br />shall obtain a Title Commitment from a title company of the City’s choosing. The City <br />shall have seven days after receipt of the Title Commitment to review title and to give <br />Donor written notice of (i) any defects in the marketability of Donor title to the Property <br />or any encumbrances on Donor’s title to the Property that are objectionable to City, and <br />(ii) the specific actions City requests that Donor take with respect to each such defect or <br />Title Objection Notice <br />encumbrance (a “”). Any defects in or encumbrances on Donor’s <br />Permitted <br />title that City does not identify in a timely Title Objection Notice are each a “ <br />Exception <br />.” Within three business days after Donor’s receipt of a Title Objection Notice <br />from City, Donor will notify City, in writing, of the actions, if any, that Donor is willing <br />to take with respect to each of the matters identified in the Title Objection Notice and the <br />Donor’s Title Notice <br />time frame in which Donor will take those actions (“”). If Donor’s <br />Title Notice indicates that Donor unconditionally agrees to make Donor’s title to the <br />Property marketable on or before the closing date, the parties shall proceed to closing <br />pursuant to the terms of this Agreement. If Donor’s Title Notice indicates that Donor <br />Resolution #20-289 <br />Page 3 of 8 <br /> <br /> <br />