Agenda - Council - 01/10/2006 - Laserfiche WebLink

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DEVELOPMENTfPURCHASE AGREEMENT This Agreement is made this da), of January, 2006 by and between the CITY OF RAMSEY, a Minnesota Municipal Corporation, 15153 Nowthen Boulevard N.W., Ramsey, Minnesota ("CITY") and RIVER'S BEND HOLDINGS, LLC, a Minnesota Limited Liability · Company, 19230 Evans Street, Elk River, Minnesota ("R.H."). RECITALS WHEREAS, the CITY is the fee owner of the following described property, to-wit: All that part of Government Lot 3, Section 25 and Government Lot 6, Section 36, all in Township 32, Range 25, Anoka County, Minnesota, described as follows: Commencing at the most northerly comer of Lot 4, Block 1, RIVER'S BEND PLAZA 3}m ADDITION, said Anoka County; thence North 67 degrees 21 minutes 17 seconds East, along the easterly extension of the northerly line of said Lot 4, a distance of 66.02 feet to a line 66.00 feet easterly of and parallel with the easterly line of said Lot 4; thence South 21 degrees 12 minutes 12 seconds East, along said parallel line, a distance of 110.00 feet to the point of beginning of the property to be described; thence continuing South 21 degrees 12 minutes 12 seconds East, along said parallel line, a distance of 416.00 feet; thence North 68 degrees 47 minutes 48 seconds East a distance of 436.00 feet; thence North 21 degrees 12 minutes 12 seconds West a distance of 512.49 feet; thence South 78 degrees 28 minutes 02 seconds West a distance of 126.99 feet; thence South 67 degrees 21 minutes 17 seconds West a distance of 200.91 feet; thence South 21 degrees 12 minutes 12 seconds East 110.00 feet; thence South 67 degrees 21 minutes 17 seconds West a distance of 110.00 feet to the point of beginning. (the "City Property"); and WHEREAS, R.H., Phoeniz Enterprises, LLC and C.M. Points, LLC, all Minnesota limited liability companies ("Landowners") were the fee owners of the following described property, to-wit: Outlots A, B, C, and E, RIVER'S BEND 3m) ADDITION, Anoka County. (the "Landowners Property"); and WHEREAS, R.H. desires to purchase from the CITY the City Property; and WHEREAS, the CITY required Landowners to execute documents removing the Right- of-Access, being the right of ingress to and egress from the Landowners Property to Trunk Highway No. 47, (the "Access Rights") for which Access Rights the CITY has not given any consideration to Landowners; and -191-