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06-15-2020-WS
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06-15-2020-WS
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<br />2 <br />provided that all costs that may be required for utility work shall be borne <br />by the Buyer. Seller has the right to approve the path of any such <br />easements in order to ensure the easement does not detrimentally impact <br />Lot 1 or Lot 3 in Seller’s reasonable judgment. <br /> <br />1.2.3 A temporary construction easement over parts of Lot 3, allowing Buyer to <br />do the following: (1) park vehicles in pre-determined areas of the parking <br />lot on Lot 3; and (2) stage construction materials and equipment on Lot 3. <br />The temporary construction easement shall commence upon Seller's <br />completion of a new access road depicted on Exhibit A and shall expire <br />twelve (12) months after construction of the new access road is completed. <br /> <br />1.3 Personal Property. There is no personal property transferred by this Agreement. <br /> <br />1.4 Contracts. There are no service or maintenance contracts, equipment leases or <br />other contracts pertaining to the Real Property. <br /> <br />1.5 Warranties. Seller's interests in all warranties and guaranties pertaining to, <br />assigned to, or benefiting Seller or the Real Property. <br /> <br />1.6 Plans. A copy of all preliminary and final survey plans will be made available to <br />the Buyer subject to approval by all necessary governmental entities, including <br />the City of Arden Hills. <br /> <br />2. Purchase Price and Manner of Payment. The total purchase price ("Purchase Price") to <br />be paid by Buyer to Seller for the Property shall be One Million Three Hundred Fifty <br />Thousand Dollars ($1,350,000.00). <br /> <br />3. Additional Consideration to be Paid to Seller. In addition to the Purchase Price, Buyer <br />will be responsible for the following: <br /> <br />3.1 Buyer will pay to Seller one-third (1/3) of Seller's costs, or Three Hundred <br />Twenty-five Thousand Dollars ($325,000.00), whichever is less, to construct a <br />new access road (the “Access Road”) to serve the Real Property, on Outlot A on <br />the attached Exhibit A. Seller’s costs will include the costs to design and construct <br />the Access Road. In addition thereto, Buyer shall be solely responsible for all <br />costs related to paths/trails that may be required by any governmental entity for <br />Buyer’s use of Lot 2 and all wetland mitigation or tree replacement costs for <br />Buyer’s use of Lot 2. <br /> <br />3.2 Seller shall be solely responsible for all future maintenance and repair costs for <br />the Access Road. Buyer shall not disturb the present road or Sellers monument <br />sign until Seller completes the Access Road, which shall be completed no later <br />than July 1, 2021, unless unforeseeably delayed by city or other regulatory <br />approvals. Seller will remove the monument sign and its foundation during the <br />new road construction at Sellers sole cost.
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