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<br />PURCHASE AGREEMENT <br /> <br />Seller: <br /> <br />Property: <br /> <br />Erick David Marshall <br />and Lynae Marie Marshall <br />City of Centerville <br />1688 Sorel <br />Centerville, Minnesota 55102 <br />PID 23-31-22-23-0001 <br />Legal lots 8 & 13, block 7; <br />Centerville <br />$225.500.00 <br /> <br />Buyer: <br />Address: <br /> <br />Price: <br /> <br />1 Seller warrants that prior the closing, payment in full will have been made for all labor, materials, machinery, <br />2 fixtures, or tools furnished within the 120 days immediately preceding the closing in connection with <br />3 construction, alteration. or repair of any structure on or improvement to the property. <br /> <br />4 Seller warrants that Seller has not received any notice from any governmental authority as to violation of any <br />5 law, ordinance, or regulation which has not been disclosed and supplied to Buyer. If the property is subject <br />6 to restrictive covenants. Seller warrants that Seller has not received any notice from any person or authority <br />7 as to a breach of the covenants. Any notices received by Seller will be provided to Buyer immediately. <br /> <br />8 Seller agrees to allow reasonable access to the property for performance of any surveys or inspections agreed <br />9 to herein. <br /> <br />10 RISK OF LOSS: If there is any loss or damage to the property between the date hereof and the date of <br />11 closing, for any reason including fire, vandalism, flood, earthquake, or act of God, the risk of loss shall be on <br />12 Seller. If the property is destroyed or substantially damaged before the closing date, this Purchase Agreement <br />13 shall become null and void, at Buyers' option, and earnest money shall be refunded to Buyer. Buyer and Seller <br />14 shall immediately sign a cancellation of Purchase Agreement. <br /> <br />15 TIME OF ESSENCE: Time is of the essence in this Purchase Agreement. <br /> <br />16 ENTIRE AGREEMENT: This Purchase Agreement, any attached exhibits, and any addenda or amendments <br />17 signed by the parties, shall constitute the entire agreement between Seller and Buyer, and supersedes any <br />18 other written or oral agreements between Seller and Buyer. This Purchase Agreement can be modified only <br />19 in writing signed by Seller and Buyer. <br /> <br />20 ACCEPTANCE: Buyer understands and agrees that this Purchase Agreement is subject to acceptance by <br />21 Seller in writing. The delivery of all papers and monies may be made by facsimile and this Purchase <br />22 Agreement shall be effective once all signatures and initials have been executed on a copy of this document. <br /> <br />23 DEFAUL T:lf Buyer defaults in any of the agreements herein, Seller may terminate this Purchase Agreement, <br />24 and payments made hereunder may be retained by Seller as liquidated damages. If this Purchase Agreement <br />25 is not so terminated. Buyer or Seller may seek actual damages for breach of this Agreement or specific <br />26 performance of this Agreement; and, as to specific performance, such action must be commenced within six <br />27 months after such right of action arises. <br /> <br />28 REAL ESTATE TAXES shall be paid as follows: <br />29 Buyer shall pay. PRORATED FROM DAY OF CLOSING, real estate taxes due and payable in the year 2008 <br />30 and thereafter. <br /> <br />31 Seller shall pay, PRORATED TO DAY OF CLOSING, real estate taxes due and payable in the year 2008 and <br />32 all due in years prior. If the closing date is changed, the real estate taxes shall, if prorated, be adjusted to the <br /> <br />Initials: Sellers _ & _; Buyer _' Dated <br /> <br />Page 3 of 4 <br /> <br />&3~ <br />