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TERM SHEET FOR WINDOWS AND DOORS USA — 9.1.21 <br />Real Estate Tax ID Number: 34-32-25-13-0005. Lot 4, Block 1, Riverside West, Anoka County, <br />Minnesota and a portion of the vacated Dolomite Street — Subject to Riverside <br />West Rearrangement Final Plat Approval <br />Acreage Approximately 1.46 acres or 63,971 SF <br />Asking Price $255,884 ($4.00 / SF) (SF Subject to change based on approved Plat) <br />Offer Price $178,479 ($2.79 / SF) <br />Earnest Money $3,000 Non-refundable upon Notice to Proceed being executed. <br />Inspection Period 120 days from Effective Date (Date City Council approves) (city requires plat/ <br />site plan approval before sale) <br />Closing Within 30 days of Notice to Proceed. <br />Commission This was a City generated lead. The City is proposing to pay 2.5% commission to <br />Buyer Broker. <br />Extensions to Close Developer will deposit $3,000 in escrow for each 60 day extension (2 extensions <br />allowed) Once extensions are made the money becomes non-refundable. <br />City take care of Provide Draft Plat and updated Title Work. The City will plat the property prior <br />to sale to Buyer at city cost <br />Performance City to require construction of a minimum 10,000 SF commercial/retail building <br />with City Zoning requirements and obtain a Certificate of Occupancy one year <br />after Closing. If this is not done, the City may exercise the Right of Re -Entry. <br />Assignment <br />Contingencies <br />Review <br />Requires city approval if not same owners / company. <br />None at this time <br />EDA (Sean): Land Transaction/ Purchase Agreement/ Right of Re -Entry <br />Planning Commission (Chloe): Land Use, Development Agreement, Site Plan, <br />Plat <br />City Council: Final Approval on both items <br />