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06-15-2020-WS
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06-15-2020-WS
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PURCHASE AGREEMENT <br /> <br /> <br /> THIS PURCHASE AGREEMENT (“Agreement”) is made as of May____, 2020, by <br />and between BETHEL UNIVERSITY, a Minnesota non-profit corporation, (“Seller”) and the <br />LAKE JOHANNA FIRE DEPARTMENT, a Minnesota non-profit corporation, ("Buyer"). <br /> <br /> In consideration of this Agreement, Seller and Buyer agree as follows: <br /> <br />1. Sale of Property. Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller, the <br />following property (collectively, the "Property"): <br /> <br />1.1 Real Property. The real property located at 2 Pine Tree Drive, in the City of <br />Arden Hills, County of Ramsey, State of Minnesota, described as follows to wit: <br /> <br />The real property consisting of approximately 3.703 acres (161,282 sf), located in <br />Arden Hills, MN, depicted as Lot 2, Block 1 on the Survey and Preliminary Plat <br />of 2 Pine Tree North provided by Sunde Land Surveying attached hereto as <br />Exhibit A (the “Real Property” or “Lot 2”). There are no buildings or <br />improvements constructed or located on the Real Property, except the existing <br />entrance road and bituminous trail; however, there may be easements and rights <br />benefiting or appurtenant to the Real Property, some of which are set forth below. <br /> <br />1.1.1 The parties acknowledge that Seller is in negotiations for the sale of Lot 1 <br />as well as governmental approval for said Preliminary Plat. Accordingly, <br />Seller is unable to provide assurance that the shape and size of Lot 2 will <br />not be altered. The final shape and size of Lot 2 and corresponding legal <br />description will be finalized during the Due Diligence Period defined <br />herein. Buyer shall not be required to accept a smaller lot than Lot 2, <br />described above. However, if Buyer does accept a smaller lot, the <br />Purchase Price (defined below) shall be prorated based on the square <br />footage. <br /> <br /> 1.2 Easements. In addition to the Real Property, Seller shall convey to Buyer: <br /> <br />1.2.1 A permanent storm water easement to connect to a storm water pond on <br />Wetland 3 located on Lot 3, Block 1, as depicted on the Survey and <br />Preliminary Plat of 2 Pine Tree North provided by Sunde Land Surveying <br />attached hereto, provided all costs that may be required to connect to a <br />storm water pond outside of Lot 2 will be borne by the Buyer. In addition <br />to storm water runoff and treatment for Lot 2, the storm water easement <br />will allow the Buyer to drain and/or spray clean water used for fire <br />department training exercises into the storm water pond(s), subject to <br />regulatory approval. <br /> <br />1.2.2 A utility easement over Lot 1 or Lot 3 to provide utilities to Lot 2,
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