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<br />tr""~ <br /> <br />LAND SALE AND PURCHASE AGREEMENT <br /> <br />This Agreement is made this day of , 2006 between the BOARD OF <br />WATER COMMISSIONERS OF THE CITY OF SAINT PAUL, a municipal corporation under the <br />laws of the State of Minnesota ("Seller"), and the CITY OF CENTERVILLE, a political subdivision of <br />the State of Minnesota ("Buyer"). <br /> <br />SECTION 1 - SALE AND PURCHASE OF THE PROPERTY <br /> <br />Seller agrees to sell and convey, and Buyer agrees to purchase, that certain real property located at <br />1601 LaMotte Drive, City of Centerville County of Anoka, State of Minnesota, consisting of _ <br />acres more or less, which is legally described on Exhibit A (the "Property"), and subject to <br />covenants as more fully described in Section 4. <br /> <br />SECTION 2 - PURCHASE PRICE <br /> <br />The Purchase Price of the Property shall be the sum of one hundred seventy eight thousand six <br />hundred sixty eight dollars and no cents ($179,000), payable by bank draft or other draft <br />satisfactory to Seller as follows: <br /> <br />$10,000, as earnest money, the receipt and sufficiency of which are hereby acknowledged <br />(earnest money to be placed in an interest bearing account); and <br /> <br />$169,000, to be paid at Closing; <br /> <br />SECTION 3 - CONDITION OF PROPERTY <br /> <br />To the maximum extent permitted by law, the Property is being sold and conveyed "as is," and <br />"with all faults," with no warranties, guarantees, promises, agreements, or representations, whether <br />express or implied, by Seller or any person acting or purporting to act on its behalf, as to (i) title, <br />(ii) Seller's interest or estate in the Property, (iii) the existence or nonexistence of other interests in <br />the Property, (iv) the condition of the Property or its suitability for any use or purpose, (v) the <br />value, nature, quality or condition of the Property, including without limitation, the water, soil or <br />geology. <br /> <br />SECTION 4 - COVENANTS RUNNING WITH THE LAND <br /> <br />4.01 The sale and conveyance of the Property are subject to the following covenants affecting the <br />present and future use ofthe Property, which covenants are intended and agreed by Seller and <br />Buyer to be binding upon Buyer, and upon any and all successors in interest of whatever kind <br />in the Property: <br /> <br />a) Water Ponding, Flowage and Drainage Easement (Exhibit B) <br /> <br />b) Public Raw Water Conduit Easement (Exhibit C) <br /> <br />H:\Property Purchase-Disposal\Park Property\Purchase and Sale of vacant Jot_J2-20-05v3.doc <br /> <br />l~ <br />