CCP 03-08-1999 - Laserfiche WebLink

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..~ . . . PURCHASE AGREEMENT THIS AGREEMENT, made on or as of the day of, , 1999; by and between George Indykiewicz and Eleanor Indykiewicz, husband and wife; George and Eleanor Indykiewicz Limited Partnership, a Limited Partnership under the laws of Minnesota (all aforementioned parties herein collectively "Seller"); and The Economic Development Authority of the City of Arden Hills, (the "Purchaser"). In consideration of the mutual covenants and undertakings contained herein and in satisfaction of the payment of any amounts which may have been due Seller in the event of the acquisition of Seller's real property, business equipment and black dirt by condemnation, the parties agree as follows: 1. Sale and Purchase of Property. Seller agrees to sell, and Purchaser agrees to purchase, certain property situated in the City of Arden Hills, County of Ramsey, State of Minnesota, consisting of: 1.1 certain land legally described on Exhibit A, attached and incorporated herein, together with all the appurtenant rights, miner rights, privileges, and easements belonging thereto (collectively the "Land"); 1.2 all buildings, structures, and other improvements located on the Land as well as all non-commercial fixtures located therein and thereon (collectively the "Improvements"); 1.3 all items of machinery and equipment, rolling stock, office furniture and miscellaneous items described on Exhibit B, attached and incorporated herein (collectively "Business Equipment"). 1.4 a stock pile of black dirt located on the land ("Black Dirt"). The Land and Improvements are hereinafter collectively referred to as the "Real Property". 2. Relocation Benefits and Purchase Price. Purchaser agrees to pay Seller as Relocation Benefits and for the purchase of the Real Property, Business Equipment and Black Dirt in the following manner: 2.1 Real Prooertv: The portion ofthe Purchase Price attributable to the Real Property shall be $1,065,100.00 payable by certified check on the date of closing. 2.2 Business Eauioment: The portion of the Purchase Price attributable to the Business Equipment shall be $148,400.00 and shall be payable by certified check on the date of closing. 2.3 Black Dirt: The portion of the Purchase Price attributable to the Black Dirt shall be determined in the following manner: