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PURCHASE AGREEMENT
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<br />PARTIES. This Agreement is made this day &June, 2006 by and between ANNA M. PARKS,
<br />Trustee of the RONALD AND ANNA PARKS LIVING TRUST, u/a dated October 26, 2001,
<br />("SELLER"), whose address is 1919 156~h Lane, Andover, Minnesota 55304 and the CITY OF
<br />RAMSEY, a Minnesota municipal corporation, ("BUYER"), with address 15153 Nowthen Boulevard,
<br />Ramsey, Minnesota 55303.
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<br /> 1. OFFER/ACCEPTANCE. BUYER offers to purchase and SELLER agrees to sell real
<br />property located in Ramsey, Anoka County, Minnesota, known as 6590 141't Avenue NW, Ramsey,
<br />Minnesota and legally described as follows:
<br />
<br />All that part of the North 200 feet of the South 233 feet of the South ¼ of the Southeast Quarter
<br />of Section 27, Township 32, Range 25, Anoka County, Minnesota, lying West of the East 1146
<br />feet thereof, and lying East ora line parallel with the East line of said South ¼ of the Southeast
<br />Quarter drawn Northerly from a point on the South line of said South '/2 of the Southeast Quarter
<br />a distance of 266.00 feet East of the Northwest comer of Lot 1, of the duly recorded plat of
<br />Auditor's Subdivision No. 30, said Anoka County, said 266 feet measured at right angles to the
<br />West line of Said Lot 1.
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<br />Together with an easement for road purposes over the South 33 feet of the East 1146 feet of the
<br />South V~ of the Southeast Quarter, Anoka County, Minnesota (the "Property").
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<br />The term "Property" as used in this Agreement shall include all improvements, hereditaments and
<br />appurtenances to the Property, including building structures located on the land, ali fixtures presently
<br />located within the building structures on the land and the following personal property owned by SELLER
<br />and currently located on the land:
<br />
<br /> 2. ACCEPTANCE. The acceptance date of this Agreement is the date it is delivered by the
<br />last party signing to the other party.
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<br /> 3. PRICE. The purchase price ("Purchase Price"), to be paid by BUYER for the purchase
<br />of the Property is $211,200.00, cash at closing.
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<br /> 4. EAR.NEST MONEY. Concurrently with the execution hereof BUYER shall deposit with
<br />Registered Abstracters, Inc. 2115 - 3ra Avenue North, Anoka, Minnesota, the amount of Five Thousand
<br />and 00/100 Dollars ($5,000.00) as Earnest Money hereunder ("Earnest Money"). The Earnest Money
<br />shall be applied to the Purchase Price at Closing.
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<br /> 5. DEED/MARKETABLE TITLE. Conveyance Terms. Upon BUYER'S full
<br />performance of BUYER'S obligations under this Agreement, SELLER shall execute and deliver to
<br />BUYER, on the Closing Date, a Warranty Deed conveying fee title to the Property to BUYER, subject
<br />only to:
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<br />a. Building, zoning and subdivision statutes, laws, ordinances and regulations.
<br />
<br />if any.
<br />
<br />Reservations of minerals or of mineral rights in favor of the State of Minnesota,
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