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Agenda - Council - 01/27/2026
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Agenda - Council - 01/27/2026
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2/6/2026 1:28:33 PM
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Council
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01/27/2026
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Authentisign ID: 9E3CC3C7-60D0-F011-8195-00OD3A1E5303 <br />COMMERCIAL PURCHASE AGREEMENT <br />268. Page 7 <br />Date December <br />3rd 2025 <br />269. Property located at 6701, 6745 Highway 10 NW Ramsey 55303 <br />270. AGENCY NOTICE <br />271 Brian Passeri is ❑ Seller's Agent X❑ Buyer's Agent ❑ Dual Agent. <br />(Licensee) -------- -(Check one.)-------------------------------------- <br />272 LPT Realty LLC <br />(Real Estate Company Name) <br />273. is ❑ Seller's Agent ❑ Buyer's Agent ❑ Dual Agent. <br />(Licensee) ----------------------------------(Check one.)-------------------------------------- <br />274. <br />(Real Estate Company Name) <br />275. SELLER'S CONTRIBUTION TO BUYER'S BROKER'S COMPENSATION: Seller agrees to pay Buyer's broker's <br />276. compensation at closing of 3.5 percent (%) of the selling price or $ , whichever <br />277. is greater. This is in addition to any Seller's contribution to Buyer's closing costs paid at closing. This amount is in <br />278. addition to the listing broker's offer of cooperating compensation, if any. <br />279. DUAL AGENCY DISCLOSURE: Dual agency occurs when one broker or salesperson represents both parties to a <br />280. transaction, or when two salespersons licensed to the same broker each represent a party to the transaction. Dual <br />281. agency requires the informed consent of all parties, and means that the broker or salesperson owes the same fiduciary <br />282. duties to both parties to the transaction. This role limits the level of representation the broker and salespersons can <br />283. provide, and prohibits them from acting exclusively for either party. In dual agency, confidential information about price, <br />284. terms, and motivation for pursuing a transaction will be kept confidential unless one party instructs the broker or <br />285. salesperson in writing to disclose specific information about them. Other information will be shared. Dual agents <br />286. may not advocate for one party to the detriment of the other. <br />N <br />CONSENT TO DUAL AGENCY <br />roker represents both parties involved in the transaction, which creates a dual agency. This means that Broker and <br />alespersons owe fiduciary duties to both panies. Because the parties may have conflicting interests, Broker and its <br />ale rsons are prohibited from advocating exclusively for either party. Broker cannot act as a dual agent in this <br />ransactl� without the consent of both parties. Both parties acknowledge that <br />) confident;, information communicated to Broker which regards price, terms, or motivation to buy, sell, or lease will <br />remain confi tial unless the parties instruct Broker in writing to disclose this information. Other information will be shared; <br />2) Broker and its s spersons will not represent the interest of either pansy to the detriment of the other; and <br />) within the limits of du, agency, Broker and its salesperson will work diligently to facilitate the mechanics of the sale. <br />ith the knowledge and un erstanding of the explanation above, the parties authorize and instruct Broker and its <br />alespersons to act as dual agUl is in this transaction. <br />298. SELLER: <br />(Business Entity or Individual Name) <br />299. By: <br />(Seller's Signature) <br />300. <br />(Seller's Printed Name) <br />301. Its: <br />(Title) <br />302. <br />(Date) <br />303. SELLER: <br />(Business Entity or Individual Name) <br />304. By: <br />(Seller's Signature) <br />305. <br />(Seller's Printed Name) <br />306. Its: <br />(Title) <br />307. <br />(Date) <br />BUYER:MW Properties LLC or Assignee <br />(Business Entity or Individual Name) <br />By: <br />(Buyer's Signature) <br />Mitchell Webb <br />(Buyer's Printed Name) <br />Owner/Partner <br />(Title) <br />(Date) \ <br />BUYER: <br />(Business <br />By: <br />(Buyer's Signature) <br />(Buyer's Printed Name) <br />Its: <br />(Title) <br />Individual Name) <br />MNC:PA-7 (8/25) Minnesota <br />19 Realtors <br />
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