pf_03577 - Laserfiche WebLink

Home

PURCHASE AGREEMENT TillS AGREEMENT is made as of March 23, 2004, between Kordel, Inc. a Minnesota corporation (hereinafter referred to as "Seller") and Stockman Motel Corporation, a Texas corporation and or assigns (hereinafter referred to as "Buyer"). RECITALS WHEREAS Seller is the fee owner of certain real property located in Ramsey County, containing approximately 5.87 acres as legally described on Exhibit A (the "Property"), together with all buildings and improvements constructed or located on the Property and all easements and rights benefiting or appurtenant to the Land (collectively, the "Real Property"). WHEREAS Seller desires to sell and Buyer desires to purchase the Real Property pursuant to the terms of this Agreement. WHEREAS Buyer desires to purchase the Real Property in one transaction, hereinafter referred to as the "Hotel Site". In consideration of this Agreement, Seller and Buyer agree as follows: I. Sale of Property. Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller, the following property: 1.1. Real Property. The Real Property located in Ramsey County, Minnesota and commonly known as 2420 Cleveland Avenue, Roseville, and legally described on Exhibit A, together with all buildings and improvements constructed or located on the Property and all personal property, fixtures and property owned by Seller located thereon or therein, including, but not limited to, electrical, cooling, heating, ventilation, air handling and other mechanical equipment ("Building") . 1.2 Survey and Legal Description. The survey by Pioneer Engineering dated September 20, 2000 shall determine the exact legal description of the Property, coinciding with the legal description attached as "Exhibit A" The aforesaid survey shows that the area of the subject hotel site is approximately 5.87 acre~ or 255.595 sauare feet.