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REAL ESTATE PURCHASE AGREEMENT <br /> <br /> THIS AGREEMENT August 2021 <br />by and between the CITY OF CENTERVILLE, a Minnesota municipality (referred to herein as <br />"Seller") and CENTRA NORTH, LLC, a Minnesota limited liability company, or <br />its assigns ("Buyer"). <br /> <br />R E C I T A L S <br /> <br />WHEREAS, the Seller owns real property located in the City of Centerville, Anoka County, <br />Minnesota, as legally described on Exhibit A attached to this Agreement (the , <br />which Real Property contains approximately 1.61 acres (approximately 70,232 square feet) and <br /> <br />WHEREAS, Seller agrees to sell to Buyer and Buyer agrees to purchase from Seller the <br />Real Property pursuant to the terms and conditions of this Agreement. <br /> <br /> <br /> NOW, THEREFORE, in consideration of the covenants contained herein and other good <br />and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the <br />parties agree, for themselves, their successors and assigns as follows <br /> <br /> <br /> <br />1. SALE OF PROPERTY. Seller agrees to sell to Buyer and Buyer agrees to <br />purchase from Seller, fee title in and to the Real Property, together with all easements and/or <br />rights benefiting or appurtenant to the Real Property, title or interest in any public streets or other <br />licenses, or other approvals issued in connection with the Real Property. <br />2. PURCHASE PRICE AND MANNER OF PAYMENT. The total purchase price <br />("Purchase Price") to be paid by Buyer for the Property will be One Dollar and No/100 Dollar <br />($1.00), and payable as follows: <br /> <br />A. Earnest Money. <br />(i) One Dollar and No/100 Dollar ($1.00), as earnest money ("Earnest <br />Money"). The Earnest Money is to be deposited into the trust account <br />of Berglund, Baumgartner, Kimball, & Glaser, LLC, or such other entity <br />at the discretion of the Buyer (the "Deposit Account"). The Deposit <br />Account shall be delivered to Seller on the Closing Date as defined in <br />this Agreement or as otherwise provided in this Agreement. The term <br />Earnest Money will also include any accrued interest. <br />(ii) The Earnest Money is refundable and applicable to the Purchase Price, <br />upon deposit unless, the Buyer exercises any right to terminate this <br />Agreement. <br /> <br />B. Balance of Purchase Price. Any balance of the Purchase Price <br />( <br /> <br />3. REPRESENTATIONS AND WARRANTIES BY SELLER. Seller represents and <br />warrants to Buyer as follows: <br /> <br /> <br />