|
COMMERCIAL PURCHASE AGREEMENT.
<br />
<br /> PARTIES. This A~eement is made on dates set forth below, by and between ST.
<br />PAUL TERMINALS, INC. a Minnesota corporation, ("SELLER"), with address
<br /> , Minnesota and the CITY OF RAMSEY, a
<br />M'innesora municipal corporation, ("BUYER"), with address 15153 Nowthen Boulevard, Ramsey,
<br />Mirmesota 55303.
<br />
<br /> 2. OFFER/ACCEPTANCE. BUYER offers to purchase and SELLER agrees to sell
<br />real property located at 14050 Basalt Street N.W., Ramsey, Minnesota, 55303, Anoka County,
<br />Mirmesora, legally described as Lot 1, Block 4, GATEWAY NORTH INDUSTRIALPARK
<br />PLAT 2, Anoka County, Minnesota and Anoka County PIN 34-32-25-12-0004 ( the "Property,).
<br />The term "Property" as used in this Agreement shall include all improvements, fixtures, including
<br />amy trade fixtures and, now exi'sting on the date of closing, together with alt hereditaments and
<br />appur'cenances to the Property including but not limited to all mechanical, electrical, heating, air
<br />conditioning, drainage, sewer, water, plumbing and roofing systems, and existing, if any and the
<br />weigh scale installed on the Property. The parties do not contemplate the conveyance of any
<br />personal property pursuant to this Agreement.
<br />
<br /> 3. ACCEPTANCE. The acceptance date of this Agreement is the date it is delivered
<br />by ~he last party signing to the other party.
<br />
<br /> PRICE. The Purchase Price for the Property is-Three Hundred Fifteen Thousand
<br />Dollars ($315,000.00), ("Purchase Price"), payable in full at Closing.
<br />
<br /> 5. EARNEST MONEY. Concurrently with the execution hereof BUYER shall
<br />d~posit with Title Company the amount of Five Thousand Dollars ($5,000.00) as Earnest Money
<br />hereunder ("Earnest Money"),
<br />
<br /> 6. DEED/MARKETABLE TITLE. Conveyance Terms. Upon BUYER's full
<br />p~:rtbrmance 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,
<br />s~bject only to:
<br />
<br />a. Building, zoning and subdivision statutes, laws, ordinances-and regulations.
<br />
<br />Reservations of minerals or of mineral rights in favor of the state of
<br />Minnesota, if any.
<br />
<br />c. The lien of real estate taxes and special assessments not yet due and payable,
<br />
<br />d. Covenants, conditions, restrictions and easements of record.
<br />
<br /> 7. REVIEW PERIOD. Within five (5) days £ollowing the execution of this
<br />Agreement, SELLER shall provide to BUYER copies of any Environmental Site Assessment
<br />repo~xs in its possession relating to the Property and/or any reports, notifications, or correspondence
<br />
<br />-299-
<br />
<br />
<br />
|