Agenda - Council - 11/22/2022 - Laserfiche WebLink

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Date: November 2, 2022 Page 1 of 9 COMMERCIAL / INDUSTRIAL PURCHASE AGREEMENT Received by the City of Ramsey, a Minnesota municipal corporation ("Seller") from the County of Anoka, a political subdivision under the laws of the state of Minnesota ("Buyer") the sum of zero dollars cash ($0.00), earnest money for the purchase of property located at: 7665 and 7157 Highway 10 NW, Ramsey, MN 55303, situated in the County of Anoka, State of Minnesota, and legally described as follows: Parcels 4 and 27, Anoka County Highway Right -of -Way Plat No. 102, according to the map or plat thereof on file and of record in the office of the Anoka County Recorder and Registrar of Titles. together with the following personal property: NONE all of which property the undersigned Seller has this day sold to Buyer for the sum of: One million Eleven Thousand Five Hundred Thirty-three and 00/100 ($1,011,533.00) for Parcel 4; AND Nine Hundred Thirty -Five Thousand Two Hundred Forty -Six and 00/100 ($ 935,246.00) for Parcel 27, for a combined total of $1,946,779.00 for both parcels, plus all applicable closing costs and fees as reflected on the Closing Statement, which Buyer agrees to pay in the following manner. Payment Method: By agreement of the parties, the amounts due for each parcel shall be paid by Buyer at Closing to the Metropolitan Council, to repay the Seller's RALF loans on the Property. Payment to the Metropolitan Council shall be made via check or preferably via ACH, with remittance to metcar@metc. state. mn. us, including reference "RALF Loans L09-02 and L09-04 ". Upon payment, the Seller shall ensure that Buyer will receive executed releases of any restrictive covenants on the above -described Property, if any such release is requested by the Buyer. 1. DEED/MARKETABLE TITLE: Subject to performance by Buyer, Seller agrees to execute and deliver a Quit Claim Deed conveying marketable title to the property subject only to the following exceptions: (a) building and zoning laws, ordinances, State and Federal regulations; (b) restrictions relating to use or improvement of the premises without effective for forfeiture provisions; (c) reservation of any minerals or mineral rights to the State of Minnesota; and (d) utility and drainage easements which do interfere with present improvements. 2. REAL ESTATE TAXES: Real estate taxes due and payable in the year of closing shall be prorated between Seller and Buyer on a calendar year basis to the actual date of closing, unless otherwise provided in this Purchase Agreement. Real estate taxes payable in the years prior to closing shall be paid by Seller. Real estate taxes payable in the years subsequent to closing shall be paid by Buyer. 3. SPECIAL ASSESSMENTS: BUYER SHALL PAY on the date of closing: all installments of special assessments, certified for payment with the real estate taxes due and payable in the year of closing. BUYER SHALL PAY on date of closing all other special assessments levied as of the date of this Agreement. BUYER SHALL PROVIDE FOR PAYMENT OF special assessments pending as of the date of this Agreement for improvements that have been ordered by the City Council or any other governmental or private assessing authorities. If Buyer terminates this Agreement, Buyer and Seller shall immediately sign a cancellation of purchase agreement directing all earnest money paid hereunder to be refunded to Buyer.