CCP 06-16-1997 - Laserfiche WebLink

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- - JUN-13-1997 11:lJ5 BRADLEY & DEIKE, P.A. 612 927 7049 P.lJ3/i3 'I , . in Planning Case No. 97-06 by the times stated above, then the R.ernll;ni"g Portion will I not be forgiven and the Remaining Portion will be due and payable by the Purchaser by .. cash OT certified check on April 2, 1998, or on such earlier date as the Seller may demand. The Remaining Portion of the Purchase Price is Eighty Five Thousand Two Hundred Fifty Five Dollars ($85,255.00). I The basis for the reduction in the Purchase Price as described in 2(2) above is that the Purchaser has agreed to assume certain costs of wetland mitigation neeeSlSitated by the I construction by the Seller or the City of Arden Hills of a new road to serve Phases U, ill and N. The reduction in the Purchase Price is intended to compensate the Purchaser for the value of such costs of wetland mitigation asSUmed by the Purchaser. I 3. SURVEY. Within thirty (30) days after the date hereof, Purchaser shall cause a certified ALTA I survey of the Property ("Survey") to be prepared by a surveyor licensed by the State of Minnesota. The Survey shall be certified to Purchaser and the Title Company and shall show (a) I the location by courses and distances of the Property with all boundaries staked. (b) all easements on Or appurtenant to the Property, (c) all encroachments, the extent thereof and established building lines, (d) the location of all means of ingress and egress to and from the Prop!:rty and to I and from all abutting public streets, (e) the size and location of all Improvements, if any, on the Prop!:rty, (f) the topographical features of the Property at one foot contour intervals, and (g) such other pertinent facts as requested by Purchaser. The Survey shall be accompanied by a current .. surveyor' s certificate in a form reasonably acceptable to Purchaser and the Title Company. Purchaser shall be responsible for the cost of the Survey. 4. TITLE. I (A) Within twenty (20) days after the date hereof, Purchaser shall obtain from the I Title Company a commitment (the "Title Commitment") for a standard ALTA Fonn B owner's title insurance policy (except that the standard exceptions relating to survey matters, rights of parties in possession, mechanic's liens, easements or claims of easements not of record, and taxes I and assessments not shown by the public records, shall be eHminllted) (the "Title Policy") to be issued upon Closing by the Title Company in the amount of the Purchase Price, insuring that as of the recording of the ''Deed'' (as hereinafter defined) good and. marketable fee simple title to the I Property is vested in Purchaser subject only to the "Permitted Exceptions" (as hereinafter defined). The Title Commitment shall identifY the Land by the legal description set fonh on the Survey, provided tbat if the Survey has not been prepared at the time the Title Commitment is I ordered, by a prelimin~ry legal description. In the event the description contained on the Survey differs from the preliminary legal description, Purchaser shall cause the Title Company to update the Title Commitment following its receipt of the Survey description. Seller shall be responsible I for the costs, ifany, of the Title Commitment, and Purchaser shall be responsible for the cost of the Title Policy. I 2 .. I