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Last modified
2/20/2018 2:49:32 PM
Creation date
2/20/2018 2:47:43 PM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
1/29/2018
Resolution #
11487
Resolution Title
Resolution Approving the Purchase/Sale of Certain Land by the City of Roseville
Resolution Date Passed
1/29/2018
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i <br /> i <br /> 22.2 Seller's Default,If Seller defaults under this Agreement,Buyer will have the right to terminate this <br /> Agreement by giving written notice of termination to Seller, whereupon this Agreement will terminate. Upon <br /> such termination, all Earnest Money will be refunded to Buyer, including any Earnest Money that may have become <br /> nonrefundable,time being of the essence under this Agreement, <br /> In lieu of teiniivating this Agreement, Buyer may maintain a suit for specific performance of this <br /> Agreement,provided that in such suit the Seller will not be liable for damages, <br /> 23. Like-Kind Exchange. Buyerhas the right to acquire the Property as part of a transaction that Buyer intends <br /> to qualify as a like-kind tax-deferred exchange under Section 1033 of the Internal Revenue Code. Seller will make <br /> all reasonable efforts to cooperate with Buyer,provided, however,that the Closing Date hereunder will not thereby <br /> be delayed, Seller will not be obligated to incur any additional expenses and Buyer will defend,indemnify and hold <br /> harniless Seller against any and all losses,costs,expenses, and liabilities which may arise out of such tax-deferred <br /> exchange.To facilitate such exchange,Buyer will have the right to assign all of its right,title and interest in this <br /> Agreement to a qualified intermediary and to require Seller to convey the Property to that intermediary pursuant to <br /> the terms of this Agreement. <br /> Seller and Buyer have executed this Agreement as of the date first written above, <br /> SELLER: <br /> Roseville Center Limited Partnership, <br /> a Minnesotapartne hip <br /> By: '1 , <br /> Patrick u n <br /> Its: Gener P ner <br /> BUYER: <br /> Cityof Rosevill <br /> a Minnesota i c oration <br /> By: <br /> Dan Roe <br /> Its: Mayor <br /> Patrick Trudgeon <br /> Its: City Manager <br /> Page 26 of 38 <br />
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