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<br />PURCHASE AGREEMENT <br /> <br />TIllS AGREEMENT is made as of September ~007 ("Effective Date"), between City <br />of Ramsey, a Minnesota municipal ,corporation ("Seller"), and Ace Solid Waste,. Inc., a <br />Minnesota corporation ("Buyer"). <br /> <br />lnconsider.arion oftbis Agreement, Seller and Buyer agree as follows: <br /> <br />1. Sale of Property. ,Seller agrees to sell to Buyer, and Buyer agrees to buy <br />from Seller, the real property located in the City of Ramsey, Anoka County, State of~esota, <br />legally described as Lot 1, Block 4~ Gateway North Industrial Park, Plat 2, Anoka County, <br />:Minnesota excepting the northerly 33 feet of said lot for roadway purposes (collectively the <br />'''1') . -~ P rty~l d/ "P rty") <br />~ei:U' rope. . an . . o;r . mpe. , <br /> <br />The seller also retains an easement over the southerly 10 feet of the northerly 33 feet of said Lot <br />1, Block for the purpose of drainage and utility purposes. <br /> <br />2. Purchase Price and Manner of Pavment. The total purchase price <br />("Purchase Price") to be paid by Buyer to Seller for the Property shall be Two Hundred Eighty- <br />six Thousand and nallGO Dollars ($286,.000..00) and shall be payable as follows: <br /> <br />(a) <br /> <br />$5,000..00 as earnest money C'Earnest Money") which Earnest Money shall be <br />held by .., . . {"Escrow Agent") in accordance with an escrow . . <br />agreement am ng Seller, Buyer and Escrow Agent. . ~ <br />. .~ (<.~ \ ~.t-ere-d.. f\PStv"~ ~> - <br />$281,0.00.00 m cash or by wrre transfer of U.S. Federal Funds on or before 5:00 . <br />p.m. on the Closing Date. <br /> <br />(b) <br /> <br />3. Contingencies. The obligations of Buyer under this Agreement are <br />contingent upon each of the following: <br /> <br />(a) Title. Title shall have been found acceptable, or been made acceptable, In <br />accordance with the require~ents and terms of Section 6 below. <br /> <br />(b) Survey. Buyer shall have obtained, reviewed and determined that it is satisfied <br />with the matters disclosed by a Survey of the property. <br /> <br />(c) Government Approvals. Buyer shall have obtained, in its sole discretion, all final <br />governmental approvals, if required by Buyer, including, but not limited to: (i) <br />site plan and zoning approval; (ii) platting or subdivision approval; and (iii) <br />special or conditions use permit approval, as necessary in Buyer's judgment in <br />order to make the use of the Property which Buyer intends <br /> <br />-367- <br />