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<br />PURCHASE AGREEMENT
<br />73. Date September 8, 1999
<br />74. Page 2 01 2 Pages
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<br />/5. SUBDIVISION OF LAND: II this sale constitutes or requires a subdivision of land owned by Seller, Seller shall pay all subdivision expenses
<br />76. and obtain all necessary governmental approvals. Seller warrants Ihe legal description of the real property to be conveyed has been or will
<br />T7. be approved for recording as 01 the date of closing.
<br />78. GENERAL WARRANTIES: SElLER WARRANTS THAT THE BUILDINGS, IF ANY, ARE ENTIRELY WITHIN THE BOUNDARY UNES OF THE
<br />79, PROPERTY. SELLER WARRANTS THAT THERE IS A RIGHT OF ACCESS TO THE PROPERTY FROM A PUBLIC RIGHT OF WAY. THESE
<br />eo. WARRANTIES SHALL SURVIVE THE DELIVERY OF THE DEED OR CONTRACT FOR DEED.
<br />81. SELLER WARRANTS THAT PRIOR TO THE CLOSING PAYMENT IN FULL WILL HAVE BEEN MADE FOR ALL LABOR,
<br />82. MATERIALS, MACHINERY, FIXTURES OR TOOLS FURNISHED WITHIN THE 120 DAYS IMMEDIATELY PRECEDING THE CLOSING
<br />83. DATE 'IN CONNECTION WITH CONSTRUCTION, ALTERATION OR REPAIR OF ANY STRUCTURE ON OR IMPROVEMENT TO THE
<br />84. PROPERTY.
<br />85. SELLER WARRANTS THAT SELlER HAS NOT RECEIVED ANY NOTICE FROM ANY GOVERNMENTAL AUTHORITY AS TO VIOLATION
<br />86. OF ANY LAW, ORDINANCE OR REGULATION. IF THE PROPERTY IS SUBJECT TO RESTRICTIVE COVENANTS, SELLER WARRANTS
<br />BZ THAT SELLER HAS NOT RECEIVED ANY NOTICE FROM ANY PERSON OR AUTHORITY AS TO A BREACH OF THE COVENANTS. ANY
<br />aa. NOTICES Rt:CEIVED BY SELLER WILL BE PROVIDED TO BUYER IMMEDIATELY.
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<br />89. SPECIAL WARRANTIES EXCEPT AS NOTED ON REAL ESTATE TRANSFER DISCLOSURE STATEMENl:
<br />90. SELLER WARRANTS THAT THE PROPERTY IS DIRECTLY OONNECTED 10: CITY SEWER ~YES DNO CITY WATER []:yES DNO.
<br />91. SEllER WARRANTS THAT ALL APPLIANCES, HEATING, AIR CONDITIONING, WIRING AND PLUMBING SYSTEMS USED AND LOOVED
<br />92.0N SAID PROPERTY WILL BE IN PROPER WORKING ORDER ON THE DATE OF CLOSING, BUYER HAS THE RIGHT 10 INSPECT
<br />93. PROPERTY PRIOR 10 ClOSING, BUYER Aa<NCMILEDGES THAT NO ORAL REPRESENTATIONS HAVE BEEN MADE BY EITHER SEllER
<br />94,OR AGENT(S) REGARDING POSSIBLE PROBLEMS OF WATER IN BASEMENT, OR DAMAGE CAUSED BY WATER OR ICE BUILD-UP
<br />95. ON THE ROOF OF THE PROPERTY AND BUYER RELIES SOLELY IN THAT REGARD ON THE FOLLOWING STATEMENT BY SEllER:
<br />96. SELLER MAS {J;!~~ NOT HAD A WET BASEMENT, AND ~ {~~~ NOT HAD ROOF. WALL OR CEILING DAMAGE CAUSED BY
<br />fJl. WATER OR ICE BUILD-UP. (II answer is HAS, see Seller's explanation on the real estate transfer disclosure statement, if applicabla) Buyer
<br />98. JHAS{Jj!o~.J NOT received and accepted a real estate transfer disclosure statement. (If answer Is HAS NOT, Buyer relies solely on Buyer's
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<br />99. OINn Inspection of the property and the wanantles of Seller expressly sel forth In Ihls agreement.) BUYER HAS RECEIVED THE TRUTH
<br />100 IN HOUSING INSPECTION REPORT, IF REQUIRED BY MUNICIPALITY. Not Applicable
<br />101. BUYER & SELLER INITIAL: Buyer(s) Seller(s)
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<br />102. RISK OF LOSS: II there is any loss or damage to the property be!ween the date hereol and the dale of closing, lor any reason including
<br />103. fire, vandalism, flood, earthquake or act of God, the risk of loss shall be on Seller. II the property is destroyed or substantially damaged before
<br />104.lI1e closing date, this Purchase Agreement shall become null and void, at Buyer's option, and earnest money shall be refunded to Buyer;
<br />105. Buyer and Seller agree to sign cancellation of Purchase Agreement.
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<br />106. .
<br />107. ANY CLAI ND OF SELLER(S), BUYER(S), BROKER(S) OR AGENT(S), OR ANY OF THEM. ARISING OUT OF OR RELATING
<br />108. TO THE PHYSICAL CO THE PROPERTY COVERED BY .THIS PURCHASE AGREEMENT (INCWDING WITHOUT
<br />109. LIMITATION CLAIMS OF FRAUD, MISREP ION, WARRANTY AND NEGLIGENCE), SHALL BE SETTLED BY ARBITRATION
<br />11o.IN ACCORDANCE WITH THE RULES, THEN IN EFFE , D BY THE AMERICAN ARBITRATION ASSOCIATION AND THE
<br />111. MINNESOTA ASSOCIATION OF REALTORS"! THIS IS A SEPARATE AGREEMENT BETWEEN THE PARTIES AND
<br />112. BROKERS/AGENTS. FAIWRE TO AGREE TO ARBITRATE DOES NOT AFFECT THE VA THIS PURCHASE AGREEMENT.
<br />113. THIS DISPUTE RESOWTION SYSTEM IS ONLY ENFORCEABLE IF ALL PARTIES AND BROKERSlA
<br />114. ARBITRATE AS ACKNOWLEDGED BY INITIALS BELOW.
<br />115. BUYfiR(5) SELLEA(SI LIS
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<br />116. TIME OF ESSENCE: lime Is of the essence in this Purchase Agreement.
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<br />117. ENTIRE AGREEMENT: This Purchase Agreement, any attached exhibits and any addenda or amendments signed by the parties, shall constitute
<br />118. the entire agreement between Seller and Buyer, and supercedes any other written or oral agreements between Seller and Buyer. This Purchase
<br />119. Agreement can be modified only in writing signed by Seller and Buyer. '
<br />120. ACCEPTANCE: Buyer understands and agrees thai this Purchase Agreement Is subject to acceptance by Seller In writing. Agents ere not
<br />121. liable 'or responsible lor 'any covenants, obligations or warranties made in this Purchase Agreement, except the agents af!! liable to retum or
<br />122, aCOJunt for the earnest money and to arbitrate, il so agreed. The delivery of all papers and monies shall be made at the listing broker's office.
<br />123. DEFAULT: If tille Is mar'o<etable or is corrected as provided herein. and Buyer defaults in any of the agreements herein, Seller may tenn/nate
<br />124, this Purchase Agreement and payments made hereunder may be retained by Seller and Agent, as their respeclive interests may appear.
<br />125. This provision shall not deprive ellher Buyer or Seller of the right to recover damages for a breach of this agreement or of the right of specific
<br />126. perfonnance of this agreement, provided this Purchase Agreement is nOl terminated, and further prOllided, as to specific perfonnance. such
<br />127. action is commenced within six months alter such righl of aelion arises,
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<br />128. AGENCY DISCLOSURE:
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<br />None
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<br />(Salling AgMI)
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<br />STIPULATES HE OR SHE IS REPRESENTING
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<br />129, THE IN THIS TRANSACTION. THE LISTING AGENT QR BROKER STIPULATES HE OR SHE IS
<br />130. REPRESENTING THE SELLER IN THIS TRANSACTION. BUYER & SELLER INITIAL: Buyer(s) Seller(s)
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<br />35. Beatrice A. Smith
<br />(SeDer's prW\ted Namel
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<br />(Marital SfafUS.j
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<br />36.
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<br />(SeIJo,'s Sign.....)
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<br />r-J?- ?3
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<br />137,
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<br />($611&1"$ Printed Name)
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<br />(Marital S(aJusJ
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<br />(MafflaIS1arusJ
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<br />'38, DATE OF FINAL ACCEPTANCE
<br />39,
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<br />140. "'N:PA (81118)
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<br />SELLING AGENT
<br />THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS.
<br />IF YOU DESIRE LEGAL OR TAX ADVICE. CONSULT AN APPROPRIATE PROFESSIONAL.
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