|
<br />PURCHASE AGREEMENT
<br />
<br />1. PARTIES. This Agreement is made on this day of September, 2007 by
<br />and between Lora G. Hamilton and Edward L. Hamilton, wife and husband, whose address is
<br />6528 Riverdale Drive NW, Ramsey,:MN 55303, and Winslow I Holasek and Corinne M.
<br />Holasek, husband and wife, whose address is 1159 Andover Blvd. NW, Andover, MN 55304
<br />(collectively "SELLER") and the CITY OF RAMSEY, a Minnesota municipal corporation,
<br />("BUYER"), which address is 7550 Sunwood Drive NW, Ramsey, MN 55303.
<br />
<br />2. OFFER/ACCEPTANCE. BUYER offers to purchase and SELLER agrees to
<br />sell real property located at 6165 and 6205 Highway 10 NW, Ramsey,:MN 55303, Anoka
<br />County, Minnesota, legally described on the attached Exhibit A (the "Property"). The term
<br />"Property" as . used in this Agreement shall include all improvements, fixtures, including any
<br />trade fixtures and, now existing on the date of final vacate, together with all hereditaments and
<br />appurtenances to the Property including but not limited to all mechanical, electrical, heating, air
<br />conditioning, drainage, sewer, water, plumbing and roofing systems, if any.
<br />
<br />3. ACCEPTANCE. The acceptance date of this Agreement IS the date it is
<br />delivered by the last party signing to the other party.
<br />
<br />4. PRICE. The Purchase Price for the Property is Four Hundred Eighty Thousand
<br />and OOIlOOths Dollars ($480,000.00) plus Fifteen Thousand and 00/100ths Dollars ($15,000.00)
<br />in the form of an Administrative Settlement for a Total Purchase Price of Four Hundred Ninety-
<br />five Thousand and 00/1 OOths Dollars ($495,000.00), ("Purchase Price"), payable at Closing less
<br />earnest money. fl~~A-e-~
<br />
<br />5. EARNEST MONEY. Concurrently with the execution hereof BUYER shall
<br />deposit with SELLER'S attorney for deposit in said attorney's trust account the amount of Five
<br />Thousand and 00/1 OOths Dollars ($5,000.00) as Earnest Money hereunder ("Earnest Money").
<br />
<br />6. DEED/ MARKETABLE TITLE. Conveyance Terms. Upon BUYER'S full
<br />performance of BUYER'S obligations under this Agreement, SELLER shall execute and deliver
<br />to BUYER, on the Closing Date, a Warranty Deed. conveying fee title to the Property to
<br />BUYER, subject only to:
<br />
<br />a. Building, zoning and subdivision statutes, laws, ordinances and
<br />regulations.
<br />
<br />b. Reservations of minerals or of mineral rights in favor of the State of
<br />Minnesota, if any.
<br />
<br />c. The lien of real estate taxes and special assessments not yet due and
<br />payable.
<br />
<br />d. Covenants, conditions, restrictions and easements of record.
<br />
<br />-351-
<br />
|