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03-12-18-R
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03-12-18-R
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3. Buyer will pay Seller a total of$ 4,705.20 for the Credits, as follows: <br />a) $ 0 as earnest money,to be paid when this Agreement is signed;and <br />b) The balance of$_4,705.20 to be paid on the Closing Date listed below. <br />4. [1 ] Buyer, [0 ] Seller agrees to pay to a withdrawal fee of$ 119.52 to the State of Minnesota <br />based on the per credit fee of $1,992 for Bank Service Area 7 and a stewardship fee of$ 18.12 <br />based on the per credit fee of$ 302 . At the Closing Date, [0] Buyer, [0 ] Seller will execute a check <br />made out for this amount,payable to the Board of Water and Soil Resources. <br />5. The closing of the purchase and sale shall occur on_March 1 , 2018 (Closing Date)at <br />The Closing Date and location may be changed by written consent of both parties. Upon <br />payment of the balance of the purchase price, Seller will sign a fully executed Transaction Form to Withdraw <br />Credits provided by BWSR,provide a copy of the Transaction Form to Withdraw Credits to the Buyer and <br />forward the same to the BWSR along with the check for the withdrawal fee and stewardship fee. <br />6. Buyer has applied or will apply to Rice Creek Watershed District (Local Government Unit(LGU) <br />or other regulatory authority)for approval of a replacement plan utilizing the Credits as the means of <br />replacing impacted wetlands. If the LGU has not approved the Buyer's application for a replacement plan <br />utilizing the Credits by the Closing Date, and no postponement of the Closing Date has been agreed to by <br />Buyer and Seller in writing,then either Buyer or Seller may cancel this Agreement by giving written notice <br />to the other. In this case, Seller shall return Buyer's earnest money,and neither Buyer nor Seller shall have <br />any further obligations under this Agreement. If the LGU has approved the replacement plan and the Seller <br />is ready to proceed with the sale on the Closing Date, but Buyer fails to proceed,then the Seller may retain <br />the earnest money as liquidated damages. <br />e,, •, e/`/ /- 4X7 <br />Signature of Seller) Date) Signature of Buyer)Date) <br />Page 2 of 2 <br />BWSR Example Purchase Agreement <br />Updated July 14,2017
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