Agenda - Council - 10/25/2005 - Laserfiche WebLink

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COMMERCIAL P~,,R,. CHASE AGREEMENT PARTIES. This Agreement is made on dates set forth below, by and between FISHER ENTERPRISES, INC. a Minnesota corporation, ("SELLER"), with 'address, 6131 Highway 10 NW, Ramsey, Minnesota 55303, and the CITY OF RAMSEY, a Minnesota municipal corporation, ("BUYER"), with address, 15153 Nowthen Boulevard NW, Ramsey, Minnesota 55305. 2. OFFER/ACCEPTANCE. BUYER offers to purchase'and SELLER agees to sell real property located at 14165 Ramsey Boulevard, Ramsey, Minnesota, 55303, Anoka County, Minnesota, legally described as follows: All that part of the West 31 rods of the Southwest Quarter of the Southwest Quarter of' Section 27, Township 32; Range 25, Anoka County, Minnesota described as f`ollows: Commencing at a point on the West line thereof distant 335.51 feet South from the Northwest comer thereof as measured along said West line; thence South along said West line a distance of 335.51 feet more or less to its intersection with the Northerly right of way line of Northern Pacific Railway; thence Southeasterly along said Northerly right of way line to its intersection with the East line of said West 31 rods; thence North along said East line thereof a distance of 448.92 feet more or less to a point on said East line thereof distant 448.92 feet South from the Northeast comer of said West 31 rods as measured along said East line thereof; thence Northwesterly in a straight line to the point of beginning. Anoka County PiN: 27-32-25-33-0006. (the '~Property") The term "Property" as used in this Agreement shall include all improvements, fixtures, including any trade fixtures and, now existing on the date of closing; together with all hereditaments a~d appurtenances to the Property including but not limited to all mechanical, electrical, heating, air ccmditioning, drainage, sewer, water, plumbing and roofing systems, if any. The parties do not contemplate the conveyance of any personal property pursuant to tttis Agreement. 3. ACCEPTANCE. The acceptance date of this Agreement is the date it is delivered by the last party signing to the other party. 4. PRICE. The Purchase Price for the Property is One Million One Hundred Twenty Thousand Dollars ($1,120,000.00), ("Purchase Pr/ce"), payable in full at Closing. 5. EARNEST MONEY. Concurrently with the execution hereof BUYER shall dep(;sit with the Title Company the amount of Ten Thousand Dollars ($10,000.00) as Earnest Money hereunder ("Earnest Money"). 6. DEED/MARICETABLE TITLE. Cqnveyance Terms. Upon BUYER's full ?erfbrmance of BUYER's obligations under this Agreement, SELLER shall execute and deliver to -3] ~-