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• <br />PURCHASE AGREEMENT <br />VI -A <br />This Purchase Agreement is made and entered into this <br />12th day of May 1, 1987, by and between Gerald H. Kaufhold, <br />hereinafter referred to as Buyer, and Roseville Independent <br />School District No. 623, hereinafter referred to as Seller. <br />Buyer may sell, assign or transfer all his right, title and <br />interest to the within Purchase Agreement and premises therein <br />described; It being understood, however, that such transfer in no <br />way releases said Buyer from his liability for the performance of, <br />all the terms, covenants and payments under said Purchase <br />Agreement. <br />1. SALE. <br />The Seiler hereby sells and agrees to convey to the Buyer, <br />and the Buyer hereby agrees to purchase, that certain parcel of <br />real estate, commonly known as Lexington. School land Independent <br />School District No. 623 together with all buildings, improve- <br />ments, hereditaments and appurtenances belonging thereunto and <br />located in the City of Roseville, County of Ramsey, State of <br />Minnesota, and legally described as follows, to -wit: <br />According to Certificate of <br />Title No. 225350, that part of <br />the East 660 feet of the North <br />Half of the Northeast Quarter <br />of 'the Northeast Quarter of <br />Section 15, Township 29, Range <br />23, lying North of the South 30 <br />feet thereof, according to the <br />U.S. Government Survey thereof; <br />subject to easements of record. <br />PURCHASE PRICE. <br />A. Price. <br />The total purchase price for the above -described prop- <br />erty shall be One Million Eight Thousand and no/100 <br />Dollars ($1,0,08j000.00). <br />B. Payment. <br />The purchase price shall be paid, as follows: <br />(1) Earnest Money: <br />The sum of one Thousand and No/100 Dollars <br />($1,000.00) shall be paid as and for earnest money <br />as of the date hereof t a further payment of <br />$2000.00 upon execution and approval by Seller; and. <br />an additional $5000.00 payment on November 1, 1987. <br />Commencing January 1, 1988, and monthly thereafter <br />through July 1, 1988, Buyer shall pay to Seller <br />additional eai;aast money hereunder, or be subject <br />to termination as provided for in paragraph 14 <br />herein, the following sums on the dates shown, to wit: <br />1 <br />VI -A <br />