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<br /> ~ <br /> '. <br /> I <br /> September 19.1997 -. <br /> PURCHASE AND SAI.F. AGRF.F.MF.NT I <br /> TIllS AGREEMENT is made as ofthc _day ofSeptcmbcr, 1997, by and between I <br /> the City of Arden Hills, a statutory city under the laws of the State of Minnesota, whose principal <br /> business address is 1450 West Highway 96, Arden Hills, Minnesota 55112 ("Seller''), and Welsh <br /> Development Company, LLC, a Minnesota limited liability company, whose principal business I <br /> address is 8200 Nonnandalc Boulevard, Suite 200, Bloomington, Minnesota 55437-1060 <br /> (''Purchaser''). <br /> For and in consideration of the mutual covenants hereinafter contained, Seller and I <br /> Purchaser agree as follows: <br /> l. PROPERTY. For the price and upon and subject to the tenns and I <br /> conditions hereinafter set forth, Seller agrees to sell and convey to Purchaser and Purchaser <br /> agrees to purchase from Seller the following described property (collectively, the "Property''): I <br /> (I) The parcels of land in the City of Arden Hills, Ramsey County, <br /> Minnesota, and legally descn'bed in Exhibit A attached hereto and made a part hereof (the .. <br /> "Land"); <br /> (2) All buildings, structures and all other improvements, if any, located on the I <br /> Land (the Improvements"); <br /> (3) All right, title and interest of Seller in and to all private streets, roads, I <br /> avenues, alleys and passageways, opened or proposed, on the Land.; and <br /> (4) All and singular the estates, rights, privileges, easements, and I <br /> appurtenances belonging or in any way appertaining to the Land and the Improvements. <br /> 2. PURCHASE PRICE. I <br /> The Purchase Price for the Property shall be Four Hundred and Eight Thousand Six <br /> Hundred and Forty Dollars ($408,640.00) (the "Purchase Price") and shall be payable as follows: I <br /> (1) At "Closing" (as hereinafter defined), the Purchaser shall pay to the Seller <br /> by cash or certified check made payable to the Seller Three Hundred Twenty Three I <br /> Thousand Three HlIDdred Eighty Five DoHan ($323,385.00), <br /> (2) If certain construction which is consistent with the pr::nding approval by I <br /> the Seller in Planning Case 97-06, as shown in such planning documents, takes place as <br /> .. <br /> I <br /> <:0'd 6t'1Jl. l.C6 <:t9 . tJ. d '3>113<1 'g A3IOt:ICIEl aJ:l;:t l.66t-6t-d3S <br />