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p <br /> COIFS C <br /> Ch C <br /> (?1i <br /> PURCHASE AGREEMENT <br /> THIS AGREEMENT is made as of , 2013, between Roseville Twin <br /> Lakes, LLC, a Minnesota limited liability company ("Seller"), and the City of Roseville, a <br /> Minnesota municipal corporation("Buyer"). <br /> In consideration of this Agreement, Seller and Buyer agree as follows: <br /> Sale of Property. Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller,the <br /> real property located in Ramsey County, Minnesota, described in Exhibit A attached <br /> hereto(the"Property"). <br /> 2. Purchase Price and Manner of Payment. The total purchase price ("Purchase Price") to <br /> be paid by Buyer to Seller for the Property shall be TWO HUNDRED FORTY-THREE <br /> THOUSAND AND NO/100 DOLLARS ($243,000.00) which shall be payable as <br /> follows: <br /> A. $1,000.00 as earnest money ("Earnest Money"), which Earnest Money shall be <br /> deposited with Land Title, Inc. ("Title Company"), 2200 W. County Road C, <br /> Roseville, MN 55113,within three (3)business days following the Effective Date (as <br /> defined below) of this Agreement. The Earnest Money shall be applied to the <br /> Purchase Price at Closing if the parties close hereunder, or if this Agreement is <br /> terminated by either party shall be paid to the party entitled thereto in accordance <br /> with the provisions of this Agreement. <br /> B. The balance of the Purchase Price shall be paid by wire transfer of U.S. federal funds <br /> upon Closing. <br /> 3. Contingencies. The obligations of Buyer under this Agreement are contingent upon each <br /> of the following: <br /> A. Inspections and Testing. Buyer shall have determined, on or before the Contingency <br /> Date, that it is satisfied with the results of all matters disclosed by physical <br /> inspections, soil tests, engineering inspections, hazardous waste and environmental <br /> reviews of the Property, and all other tests and inspections which Buyer deems <br /> necessary. <br /> B. Survey. Buyer shall have determined, on or before the Contingency Date, that all <br /> matters (including but not limited to the acreage of the Property, the location of <br /> wetlands and easements and the location of the property boundaries) shown in the <br /> Survey and by boundary markers to be obtained and placed on the Property in <br /> accordance with Section 6B below,are satisfactory to the Buyer. <br /> C. Physical Condition of Property. The Buyer shall have determined, on or before the <br /> Contingency Date that it is satisfied with the physical condition of the Property, and <br /> {00151135 ) <br />