Laserfiche WebLink
<br />OPTION AGREEMENT <br /> <br />D'ff\. C~ <br /> <br />---- <br /> <br />THIS OPTION AGREEMENT (the "Agreement") is made and entered into this_ <br /> <br />day of <br /> <br />,2006, by and between CITY OF CENTERVILLE ("Seller") and St. <br /> <br />Paul Regional Water Service, ("Buyer"). <br /> <br />RECITALS <br /> <br />A. Seller is the fee owner of certain real property located in Anoka County, State of <br /> <br />Minnesota with PID Nos. <br /> <br />, such real property legally described on Exhibit <br /> <br />"A" attached hereto, together with all hereditaments and appurtenances, and all easements, rights <br /> <br />and other privileges benefiting the real property (collectively, the "Property"). <br /> <br />B. Buyer wishes to secure an option to purchase the Property and Seller is willing to <br /> <br />grant such an option upon the terms and conditions as hereinafter set forth. <br /> <br />C. Seller has been granted an option to purchase certain lands from Buyer in a <br /> <br />separate agreement, attached Exhibit B, (Option Transaction #1) <br /> <br />NOW, THEREFORE, in consideration of the Option Payment, as defined below, the <br /> <br />receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: <br /> <br />1. RECITALS INCORPORATED. The foregoing recitals are incorporated herein. <br /> <br />2. GRANT OF OPTION. Seller hereby grants to Buyer the exclusive and <br /> <br />irrevocable option ("Option") to purchase the Property, subject to and in accordance with the <br /> <br />terms and conditions set forth in this Agreement. <br /> <br />3. OPTION PAYMENT. As consideration for the Option granted herein, Buyer has <br /> <br />paid to Seller the non-refundable sum of one dollar ($1.00) and other good and valuable <br /> <br />consideration (the "Option Payment"), receipt of which is acknowledged by Seller. <br /> <br />I~ <br />