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<br />. . <br /> <br />]-('2'-% <br /> <br />AGREEMENT FOR PURCHASE AND SALE OF PROPERTY <br /> <br />THIS AGREEMENT, made as of the 12th day of March, 1998, by and between <br />Lloyd Huberty and Norine Huberty, husband and wife, ("Owner"), and Prince of Peace <br />Lutheran Church and/or its assigns ("Purchaser"). <br /> <br />WIT N E SSE T H: <br /> <br />IN CONSIDERATION OF Five Thousand Five Hundred and no/100 Dollars <br />($5,000.00), by check, paid to Commonwealth Land Title Insurance Company (the "Earnest <br />Money"), to be deposited upon execution of this Purchase Agreement by both parties, into <br />Commonwealth Land Title Insurance Company's escrow account which evidence of such <br />deposit shall be delivered to Owner within two days of execution of this Purchase <br />Agreement by both parties, Owner has agreed to sell and Purchaser has agreed to purchase <br />certain land now owned by Owner at 2555 Victoria Avenue, Roseville, Minnesota and more <br />particularly described on Exhibit A attached hereto and made a part hereof (the "Property"), <br />on the following terms and conditions: <br /> <br />1. PURCHASE PRICE. The Purchase Price for the Property payable at <br />Closing, shall beet jl~.- V.:>.~ ~and no/100 (~ less the Earnest <br />Money. <br /> <br />2. CLOSING. <br /> <br />2.1. Closing Date. The closing of the purchase and sale contemplated by this <br />Agreement (the "Closing Date" or "Closing") shall occur on that date which is six (6) months <br />from the date of this Agreement. In Purchaser's sole discretion, Purchaser shall have the <br />right to extend the Closing Date for an additional ninety (90) days by notifying Owner of <br />the extension in writing on or before that date which is six months (6) months from the date <br />of this Agreement. In addition, Purchaser shall have the right, in its sole discretion, to close <br />any time prior to the Closing Date, as the date may be extehded, upon not less than ten <br />(10) days' prior written notice to Owner. The date specified in any such notice shall then <br />be deemed the Closing Date hereunder. <br /> <br />2.2 Place of Closing. The Closing and delivery of all closing documents <br />shall take place at the office of Commonwealth Land Title Insurance Company or at such <br />other places as may be agreed upon by Purchaser and Owner. <br /> <br />2.3 Closing Documents. At the Closing, Owner shall deliver to Purchaser: <br /> <br />( a) A recordable deed or deeds with covenants of general warranty and <br />other instruments and documents necessary to vest Purchaser with marketable, fee simple <br /> <br />1 <br />