Agenda - Council - 12/13/2005 - Laserfiche WebLink

Home

COMMERCIAL PURCHASE AGREEMENT 1. 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 55303. 2. OFFER/ACCEPTANCE. BUYER offers to purchase and SELLER agrees' to sell real property located at 14165 Ramsey Boulevard, Ramsey, Minnesota, 55303, Anoka County, Minnesota, legally described as follows: Ail 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 follows: Commencing at a point on the West line thereof distant 335.51 feet SoUth from the Northwest corner 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 corner 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 and appurtenances to the Property including but not limited to all mechanical, electrical, heating, air conditioning, drainage, sewer, water, plumbing and roofing systems, if any. The parties do not contemplate the conveyance of any personal property pursuant to this 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 Twe.nty Thousand Dollars ($1,007,670.00), ("Purchase Price"), payable in full at Closing. 5. EARNEST MONEY. Concurrently with the execution hereof BUYER shall deposit with the Title Company the amount of Ten Thousand Dollars ($10,000.00) as Earnest Money hereunder ("Earnest Money"). 6. DEED/MARKETABLE TITLE. Conveyance Terms. Upon BUYER's full performance of BUYER's obligations under this Agreement, SELLER shall execute and deliver to BUYER, on the date of closing, a Warranty Deed conveying fee title to the Property to BUYER, subject only to: -536-