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Agenda - Economic Development Authority - 03/09/2023
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Agenda - Economic Development Authority - 03/09/2023
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Last modified
3/14/2025 12:37:19 PM
Creation date
3/2/2023 12:47:04 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
03/09/2023
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FIRST AMENDMENT <br /> TO <br /> PURCHASE AGREEMENT <br /> This is the First Amendment to the Purchase Agreement by and between the City of <br /> Ramsey, a Minnesota municipal corporation ("Seller"), and COR Trust Bank,N.A. and/or its <br /> assigns, a Minnesota Limited Partnership (`Buyer"), with an Effective Date of August 30, 2022. <br /> Recitals <br /> 1. EFFECTIVE DATE. The Effective Date remains August 30, 2022. <br /> 2. INSPECTION PERIOD. The Inspection Period is changed from March 30, 2023 to April 30, <br /> 2023. <br /> 3. EXHIBIT B—SITE PLAN CONCEPT. The Site Plan concept has been revised to depict a <br /> 4,818 SF Bank. <br /> Agreement <br /> 1. AMENDMENT APPROVAL. Buyer and Seller hereby approve this First Amendment to <br /> Purchase Agreement as modified by the above Recitals, which are hereby incorporated herein. <br /> 2. REMAINING TERMS. All other provisions of the Purchase Agreement remain unchanged <br /> except to the extent inconsistent with the terms of this First Amendment to Purchase Agreement. <br /> The terms used in this First Amendment to Purchase Agreement have the same meaning as in <br /> the Purchase Agreement. <br /> SELLER: City of Ramsey, a Minnesota municipal corporation <br /> By: Dated: 52023 <br /> Mark E. Kuzma, Mayor <br /> By: Dated: 12023 <br /> Brian Hagen, City Administrator <br /> BUYER: COR Trust Bank, N.A. <br /> By: Dated: 52023 <br /> Dean Suchy, Market President <br /> Page 1 of 3 <br />
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