10-14-2015 Council Packet - Laserfiche WebLink

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PURCHASE AGREEMENT THIS AGREEMENT is made as of October 14, 2015, between Joseph Tereau, a single person ("Seller"), and the City of Little Canada, a Minnesota municipal corporation ("Buyer"). In consideration of this Agreement, Seller and Buyer agree as follows: 1, Sale of Property. Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller, the following property (collectively the "Property"). (a) Real Property. The real property and fixtures located at 30 Little Canada Road, East in the City of Little Canada, County of Ramsey, State of Minnesota and further identified by Ramsey County Property Identification Number (PIN) 06- 29-22-31-0056 and legally described as follows: Except East 7 feet of Lot 9 And All of Lots 10, 11, and 12, Block 5 of Round Lake Plat ("Land"), together with all easements and rights benefiting or appurtenant to the Land (collectively the "Real Property"). (b) Personal Property. All of the personal property, (if any), situated in or about the Real Property owned by Seller, including the personal property described on attached Exhibit A ("Personal Property"). (c) Leases. Seller's interests as lessor in all of the leases, if any, affecting the Property. 2, Purchase Price and Manner of Payment, The total purchase price ("Purchase Price") to be paid by Buyer to Seller for the Property shall be One hundred -five thousand dollars ($105,000.00), which Purchase Price shall be payable as follows: (a) Earnest Money of $500.00 receipt of which is hereby acknowledged. (b) $104,500.00 by check on or before November 20, 2015 (the "Closing Date"). 3, Contingencies. The obligations of Buyer under this Agreement are contingent upon each of the following: (a) Representations and Warranties. The representations and warranties of Seller contained in this Agreement must be true now and on the Closing Date as if made on the Closing Date. (b) Title, Title to the Property shall be acceptable to Buyer in Buyer's sole discretion, in accordance with the requirements and terms of Section 6 below. (c) Performance of Seller's Obligations. Seller shall have performed all of the obligations required to be performed by Seller under this Agreement, as and when