Agenda - Council - 02/14/2006 - Laserfiche WebLink

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RIGHT OF FLqST REFUSAL Th/s Agreement, made and entered into the 25* day of.rune, 2002, is by and between Jack and Ellen Stanley, and Shane and Lynn Hanson. and Whereas, the Stanleys are conveying their center lot of three to the Hansons; and Whereas, the center lot contains a house wh/ch uses a septic system for sanitary waste; Whereas, the drain field for the septic system is located partially on one of the other two lots; and Whereas, the Stanleys des/re for sanit ,a[y sewer to be constructed to serve their remaining lots; and Whereas, the Hansons wish to have an option to purchase the lot upon which the current drain field is located. Now, Therefore, it is agreed as follows: l. The Hansom are hereby given a right of first refusal upon the sale oy the Stanleys of Lot 3, Block 3, Pondvale · · ' Estates 2°a Addition, Ramsey County, .Minnesota. 2. Under this fight the Stanleys agree not to sell Lot 3 without first giving the Hansons the opportunity to buy on the same terms and conditions as the Stanleys are w/lling to sell to a th/rd party. 3. In exchange for this right, the Hansons agree to remain neutral of sanitary sewer and water'through Pondvale Estates Adtht~on, or in another location which 2,4 . . regarding the extension would make these utilities available to Lot 3, Block 3 or Lot 1, Block 3, Pondvale Estates 2~ Addition. 4. The right of first refusal is personal to the Hansons, and may not be transferred to anyone else. 5. The Hansons must exercise their right of first refusal within 10 days after they receive notification from the Stanieys that the An" . ,, . Stanleys have a purchase offer they are prepared to accept. exercise of this fight shall be done by signing an enforceable purchase agreement with the Stanleys. 6. This right of first refusal is not a continuing right. Once the 1 O-day period expires, the fight of first refusal terminates. -207-