2006-01-11 CC Packet - Laserfiche WebLink

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LAND SALE AND PURCHASE AGREEMENT This Agreement is made this day of . 2006 between the BOARD OF WATER COMMISSIONERS OF THE CITY OF SAINT PAUL, a municipal corporation under the laws of the State ofMinncsota ("Seller"), and the CITY OF CENTERVlLLE, a political subdivision of the State of Minnesota ("Buyer"). SECI'ION 1- SALE AND PURCHASE OF THE PROPERTY Seller agrees to sell and convey, and Buyer agrees to pW'cbase, that certain real property located at 1601 LaMotte Drive, City of CenterviUe County of Anoka. State of Minnesota, consisting of_ acres more or less, which is legally described on Exhibit A (the "Property"), and subject to covenants as more fully described in Section 4. SECI'ION 2 - PURCHASE PRICE The Pmchase Price of the Property shall be the sum of Fiye Hundred Thirty-Six Thousand and no cents ($536.000). payable by bank draft or other draft satisfactory to Seller as follows: $10.000. as earnest money. the receiot and sufficiency of which are hereby acknowledaed (earnest money to be placed in an interest bearing account): and $168.668. to be oaid at Closina: $178.666. olus interest in the amount of six percent (6%) per annum on the total unoaid balance. to be paid not later than one (I) year after Closina. $178.666. olus interest in the amount of six oercent (6%) ocr annum on the total unoaid balance. to be oaid not later than two (2) years after Closine. SECI'ION 3 - CONDmON OF PROPERTY To the maximum extent permitted by law, the Property is being sold and conveyed "as is," and "with all faults," with no warranties. guarantees. promises, agreements, or representations. whether express or implied. by Seller or any person acting or purporting to act on its behalf: as to (i) title. (ii) Seller's interest or estate in the Property. (iii) the existence or nonexistence of other interests in the Property, (iy) the condition of the Property or its suitability for any use or purpose, (v) the value, nature, quality or condition of the Property, including without IimitatiQD, the water, soil or geology. SECI'ION 4 - COVENANTS RUNNING WITH THE LAND 4.01 The sale and conveyance of the Property are subject to the following covenants affecting the present and future use of the Property, which covenants are intended and agreed by Seller and Buyer to be binding upon Buyer. and upon any and aU successors in interest of whatever kind in the Property: Deleted: V:\HngiIIlleriDg\BTSCHIDA\L : AND\CeuIiuviIle Res\Pmolmse Agnlmmmt\Punlba B1Id Sale ohallllnt lot 12-20.05.cIoo ~: V:\EDgineeriog\BTSCHIDA\ , LAND\Cemmville Res\Pmolmse Agraament\Purab B1Id Sale of_ IlIU2-20.05.cIoo . Deleted: c:\Centeville PAcIoo I . , . , , , . , , , . . , . , . " " " :/ l I. .' .. , b',/ .' .' ._---------------------..-------------- ---------}' H:\Propertv Purcbase-DillDO!llli\Pmk I'rotlertv\Purc and Sale ofvacant lot 12-20-0Sv2.doo 1 ,t~