|
2
<br />2
<br />2
<br />29
<br />30
<br />M.S.B.A. Real Property Form No. 1 (1994; Rev. 1996; Rev. 1997; Rev. 2002)
<br />Minnesota Standard Residential Purchase Agreement PURCHASE AGREEMENT / PAGE 1
<br />MINNESOTA STANDARD RESIDENTIAL PURCHASE AGREEMENT
<br />© Copyright 1996, 1907, 2002 by Minnesota State Bar Association, Minneapolis, Minnesota.
<br />BEFORE YOU USE OR SIGN THIS CONTRACT, YOU SHOULD CONSULT WITH A LAWYER TO DETERMINE THAT THIS CONTRACT
<br />ADEQUATELY PROTECTS YOUR LEGAL RIGHTS. Minnesota State Bar Association disclaims any liability arising out of use of this form.
<br />1. PARTIES. This Purchase Agreement is made on January 6, 2005 by and between
<br />the City of Little Canada, a Minnesota municipal corporation
<br />(marital stales)
<br />of (seller's address) 515 E. Little Canada Road, Little Canada, MN 55117 ,SELLER, and
<br />James Brian Morris, an unmarried person as joint tenants
<br />[strike "joint tenants" if tenancy -in- common is intended] of [ huyer's address/ 2724 Pernwood Street, Roseville, MN 55113
<br />,BUYER.
<br />2. OFFER /ACCEPTANCE. Buyer offers to purchase and Seller agrees to sell real property legally described as:
<br />The West 90 feel of East 190 feel of North 289.6 feet of Block 8, Riley's Gervais Lake Addition
<br />[Property Tax Identification Number or Tax Parcel Number 09-29- 22-42 -0024
<br />located at 594 E. County Road 82 City of Little Canada
<br />County of Ramsey State of Minnesota, Zip Code 55117
<br />3. ACCEPTANCE DEADLINE. The acceptance dale of this Purchase Agreement is the dale it is delivered by the last party signing to the other party. This
<br />offer to purchase, unless accepted sooner, shall be void at 11:59 A.M., on (dale) January 13, 2005 , and in such event all earnest
<br />money shall be refunded to Buyer.
<br />4. PERSONAL PROPERTY ANB'flx'URE$ INCLUDEOEIN•SALE. The following items of personal propertyend'xtires owned by Seller and currently
<br />located on the real property are included in this sale 101dke'out items' nohindudedl' s -gerden halbsylant3rshrubsytree$ ftonn windows. ar kinserls; stone
<br />oboes;-screensram49ot tlo�pedetedintle ;eurteittrter,,,,,, J, eperyaedarattachediightingfixtures with bulbs; plumbing fixturea,eamp•pcn.perwater•
<br />healers; heat ing - systems: healing stoves: fanpfaeameets; fireplace doors and screens; builhinhumidifiem -am iwmreeMlit iogrmato bMIMnnIm•HJnh,•
<br />wiw•fillere:<retametiemarage law op..,., ,, will- centrola,rlelevision'antennesr water-soft easrc; builbin•dishwashers {garbage disposalscbuilbtu had''
<br />eompeclors Wrill-brevenwenJ..,...l..,y Jton,.., hood- fens;intercems; installed rpeting; wodchmahoe'seeerl4ysystems; andQalso the following•ropertw
<br />range /stove unit, refrigerator, and storage shed
<br />31 Upon delivery of the Deed, Seller shall alsodeliver a Warranty Bill of Sale for the above personal property. [Check the box if the following provision applies
<br />32 to this Purchase Agreement:] [ )5( Seller shall use M.S.B,A. Real Property Form No. 90 (1997), Warranty Bill of Sale.
<br />13
<br />34 5. PRICE AND TERMS. The price far the real and personal property included in this sale is
<br />35 Two hundred eight -seven thousand five hundred Dollars ($257,500.00
<br />36 which Buyer shall pay as follows:
<br />37
<br />38 Earnest money of$ 43,125.00 by [CASH, CHECK, NOTE - state which cashier's check or certified check
<br />39 [select eec:f j payable to
<br />ne Lg.} Seller, to be deposited and held by Seller (and may be commingled with Seller's other funds) pending closing,
<br />41 [_J Seller's lawyer, to be deposited and held in the lawyer's trust account pending closing,
<br />42 L] Seller's broker, to be deposited or held by broker according to the requirements of Minnesota Statutes,
<br />43 L( Other [describe bow the earnest money will be held'
<br />45 receipt of which is hereby acknowledged and $ 0 cash on Or before January 14 the DATE OF CLOSING, and the balance of
<br />.16 $ 244,375.00 by financing as shown on the attached Financing Addendum.
<br />.n
<br />•I8 6. DEEDIMARKETABLE TITLE. Upon performance by Sayer, Seller shall execute and deliver a Limited Warranty
<br />i9 Deed. Joined in by spouse, if any, conveying marketable title of record subject to:
<br />50 A. Building and zoning laws, ordinances, state and federal regulations;
<br />st B. Restrictions relating to use or improvement of the real property without effective forfeiture provisions;
<br />52 C. Reservation of any mineral rights by the Stale of Minnesota;
<br />53 D. Utility and drainage easements which do not interfere with existing improvements;
<br />54 E. Exceptions 10 line which constitute encumbrances, restrictions, or easements which have been disclosed to Buyer and accepted by Buyer in This
<br />Purchase Agreement (must be specified in writing):
<br />56
<br />57 7. REAL ESTATE TAXES AND SPECIAL ASSESSMENTS. Real estate taxes due and payable in and for the year of closing shall be prorated between
<br />56 Seller and Buyer on a calendar year basis to the actual Date of Closing, unless otherwise provided in This Purchase Agreement. If lax statements far such
<br />59 taxes are net available on the Dale of Closing, the amount to be prorated shall be 100 / of the prior year's taxes , and such estimated proration shall
<br />60 be [strike oneJFUKJFANffEIWAEBETWEENR '.; ^;=_ ,,.RI ADJUSTED UPON RECEIPT OF THE ACTUAL TAX STATEMENTS FOR SUCH
<br />61 YEAR (in which case the party entitled to a credit as a result of the adjustment shall receive the amount of such credit from the other p rlys ilhin 30 days
<br />02 of issuance of the tax statements). Seller represents the taxes due and payable in the year(s) 2005 will be FULL, PART NON homestead
<br />63 classification, unless Buyer changes the tax classification for taxes payable in the year following closing by taking possession of the real grope y as B4yofs
<br />64 homestead and filing a new homestead declaration within the lime required by law. If the taxes due and payable in the year of closing are PART G44010
<br />65 homestead classification, Seller shall pay to Buyer 4 sng $ 0 in addition to Seller's prorated share of the taxes. If the taxes due and
<br />66 payable in the year following closing are PART or�JON lomesteed classification and the closing takes place after the date by which Buyer must take
<br />67 possession of the real properly as Buyer's homestead's file for homestead tax status for taxes due and payable in Such year, Seller shall pay t0 Buyer at
<br />65 closing $ 0 as Seller's share of such taxes.
<br />69
<br />70 [Seiko ens:) UMERANe'SELi {R-SH. ALL- ER-AS-0FTHE- DATEg.eLO51N6-/ SELLER SHALL PAY ON DATE OF CLOSING all installments
<br />71 of special assessments certified for payment with the real estate taxes run and payable in the year of closing.
<br />72 (Strike one:] - BUYER- SIYAtt ASSUME/ SELLER SHALL PAY ON DATE OF CLOSING all other special assessments levied as of the date of this
<br />Purchase Agreement.
<br />7.1 [Strike one:htiusaRSHAL-EASSUMF/ SELLER SHALL PROVIDE FOR PAYMENT OF special assessments pending as of the date of this Purchase
<br />/5 Agreement for improvements that have been ordered by the City Council or other governmental assessing authorities. (Seller's provision for payment shall
<br />76 be by payment into escrow of 1'G times the estimated amounlof the assessments.) As of the dale of this Purchase Agreement, Seller represents that Seller
<br />has not received a Notice of Hearing of e new public improvement project from any governmental assessing authority, the costs of which project may be
<br />)n assessed against the real property. If a special assessment becomes pending after the elate of this Purchase Agreement and before the Date of Closing,
<br />Buyer way, at Buyer's option:
<br />Nn A. Assume payment of Iho pending special assessment without adjnvnv7e' •n the purchase price of the real property; or,
<br />
|