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2016-10-17_EDA_Agenda_Packet
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2016-10-17_EDA_Agenda_Packet
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11/22/2016 3:11:27 PM
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Economic Development Authority
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9b. Attachment C <br />PURCHASE AGREEMENT <br />THIS PURCHASE AGREEMENT (the “Agreement”) is made as of this____day of <br />October___, 2016, by and betweenEvelyn M. Sands, a single person (the “Seller”) and the Roseville <br />Economic DevelopmentAuthority, a public body corporate and politic under the laws of the State <br />of Minnesota (the “Buyer”). <br />ITALS <br />REC <br />The Seller is the owner ofproperty located at 196 McCarrons Boulevard South, Roseville, <br />Minnesota, which is legally described on the attached Exhibit A (the “Property”). <br />AGREEMENT <br />Offer/Acceptance for Sale of Property. <br />1.The Seller agrees to sell to Buyer the <br />Property and Buyer agrees to purchase the same, according to the terms of this Agreement. <br />Purchase Price for Property and Terms. <br />2. <br />PURCHASE PRICE: <br />A.The total purchase price for the Property is One Hundred <br />and Ten Thousand and 00/100ths Dollars ($110,000) (the “Purchase Price”). <br />TERMS: <br />B. <br />(1):EARNEST MONEY. The sum of One ThousandDollars ($1,000) (the <br />“Earnest Money”) shall be paid bytheBuyer totheSeller, receipt of which <br />is hereby acknowledged by the Seller. <br />(2):BALANCE DUE SELLER. The Buyer agrees to pay by check or electronic <br />transfer of funds on the date of closing on the Property (the “Closing Date”) <br />any remaining balance of the Purchase Price due to Seller according to the <br />terms of this Agreement. <br />(3):DEED/MARKETABLE TITLE. Subject to performance by the Buyer, the <br />Seller agrees to execute and deliver a Warranty Deed conveying <br />marketable title to the Property to the Buyer, subject only to the following <br />exceptions: <br />a.Building and zoning laws, ordinances, state and federal regulations. <br />b.Reservation of minerals or mineral rights to the State of Minnesota, <br />ifany. <br />c.Public utility and drainage easements of record which will not <br />interfere withtheBuyer’s intended use of the Property. <br /> <br />
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