05-18-2020-WS - Laserfiche WebLink

Home Browse Search

PURCHASE AGREEMENT THIS PURCHASE AGREEMENT (“Agreement”) is made as of May____, 2020, by and between BETHEL UNIVERSITY, a Minnesota non-profit corporation, (“Seller”) and the LAKE JOHANNA FIRE DEPARTMENT, a Minnesota non-profit corporation, ("Buyer"). In consideration of this Agreement, Seller and Buyer agree as follows: 1. Sale of Property. Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller, the following property (collectively, the "Property"): 1.1 Real Property. The real property located at 2 Pine Tree Drive, in the City of Arden Hills, County of Ramsey, State of Minnesota, described as follows to wit: The real property consisting of approximately 3.703 acres (161,282 sf), located in Arden Hills, MN, depicted as Lot 2, Block 1 on the Survey and Preliminary Plat of 2 Pine Tree North provided by Sunde Land Surveying attached hereto as Exhibit A (the “Real Property” or “Lot 2”). There are no buildings or improvements constructed or located on the Real Property, except the existing entrance road and bituminous trail; however, there may be easements and rights benefiting or appurtenant to the Real Property, some of which are set forth below. 1.1.1 The parties acknowledge that Seller is in negotiations for the sale of Lot 1 as well as governmental approval for said Preliminary Plat. Accordingly, Seller is unable to provide assurance that the shape and size of Lot 2 will not be altered. The final shape and size of Lot 2 and corresponding legal description will be finalized during the Due Diligence Period defined herein. Buyer shall not be required to accept a smaller lot than Lot 2, described above. However, if Buyer does accept a smaller lot, the Purchase Price (defined below) shall be prorated based on the square footage. 1.2 Easements. In addition to the Real Property, Seller shall convey to Buyer: 1.2.1 A permanent storm water easement to connect to a storm water pond on Wetland 3 located on Lot 3, Block 1, as depicted on the Survey and Preliminary Plat of 2 Pine Tree North provided by Sunde Land Surveying attached hereto, provided all costs that may be required to connect to a storm water pond outside of Lot 2 will be borne by the Buyer. In addition to storm water runoff and treatment for Lot 2, the storm water easement will allow the Buyer to drain and/or spray clean water used for fire department training exercises into the storm water pond(s), subject to regulatory approval. 1.2.2 A utility easement over Lot 1 or Lot 3 to provide utilities to Lot 2,