CCP 11-09-1987 - Laserfiche WebLink

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, . 1. SALE AND PURCHASE. 1.1 PURCHASE PRICE. Seller hereby agre~s to sell the Land to Buyer, and Buyer hereby agrees to purchase the same from Seller, together with rights to the Easement Area, for $404,800.00 (the "Purchase Price") as follows: (.) Th. W,,"'J, 300 f." ., ,.. Lon' ("P~,J A") ~"iolog 83,'80 JH'ij; s~uar7J-eet for $158~ "JeI1t<<- ~~~ ~rrpr , s-~C; ~g;- fJwp w: Mal, $ (/" ~M ffW".J' <;dI. (/ , (b) The Easterly 220 feet of the Westerl 520 feet of the Land ("p~'~ontai~1,292 s~uare feet for $21,700(", %.J~ ~ th-e.;;oe.k~ti:P nf. ,... r"lt. I. (8) aIJ~ve. j a ' (c) The Easterly 188.54 feet of the Westerly 708.54 feet of the Land ("Parcel C") containing 52,527.24 square feet for $117,300. (The Purchase Price was calculated at $1.90 per square foot of Land area plus a rounded 796 interest factor on the deferred portion thereof.) 1.2 EARNEST MONEY. Seller acknowledges the receipt of $15,000 as earnest money (the "Earnest Money") for the transaction described herein. Within 30 days after the date this Agreement has been executed by the parties, Buyer shall pay Seller $25,000 in additional Earnest Money which, together with the $15,000 in Earnest Money . previously paid, shall be applied against the Purchase Price of Parcel A of the Land. 2. TITLE. 2.1 EVIDENCE OF TITLE. (a) Buyer hereby Objects to title to the Land because of Items 1D, 1E, 1F and 1G (the "Objections") contained in Schedule B-1 of that certain commitment for owner's policy of title Insurance attached as Exhibit A dated July 23, 1987 (the "Commitment") prepared by Land Title, Inc. ("Title"), Arden Hills, Minnesota, as agent for First American Title Insurance Company of Mid-America. Prior to or at the closing of Parcel A, Seller shall deliver documents to Buyer which shall be reasonably aatisfactory to Buyer and Title to discharge the Objections whereupon any objections to title shall be considered withdrawn. (b) Prior to or at the closing of Parcel A, Seller shall pay all real estate taxes assessed against the Land and payable In 1987 and prior years as indicated In Schedule B-ll of the Commitment. (c) Buyer shall accept title subject to Ite ms 9 through 11 listed In Schedule B-II of the Commitment. . (d) Objection to any other matter disclosed in the Commitment Is hereby waived. . 2.2 INTERVENING LIENS. From and after the date hereof through the closing of the last parcel of the Land, Seller shall not make, do, execute or suffer any act or omission whereby the Land or any part thereof shall be Imperiled, charged or encumbered in any manner whatsoever and Seller at Its expense shall promptly discharge any lien or encumbrance so placed against the Land or any part thereof. ~~l 2. ~, _J..__~_._..~