Laserfiche WebLink
2. PURCHASE PRICE AND MANNER OF PAYMENT. The purchase price for <br />the Real Estate shall be Three Hundred Eighty Five Thousand and no /100 ($385,000.00) Dollars <br />payable as follows: <br />a. Earnest money of Twenty -five Thousand and no /100 ($25,000.00) Dollars paid <br />contemporaneously herewith to be held by CI Title. <br />b. The balance of the purchase price of Three Hundred Sixty Thousand and no /100 <br />($360,000.00) Dollars to be paid in cash at closing pursuant to financing to be <br />obtained by Buyer. <br />3. OBLIGATIONS OF SELLER. Seller shall be obligated to perform each of the <br />following acts: <br />a. Within thirty (30) days of the date of this Agreement, provide Buyer with a Phase <br />I Environmental Audit. <br />b. Within thirty (30) days of the date of this Agreement, provide Buyer with all <br />surveys in its possession. <br />c. Obtain a legal description of the easement referenced in Paragraph 1 on or before <br />April 1, 2006. <br />d. Define or locate the sign easement owned by Naegele, Inc. so as to restrict their <br />access to the sign located on the Real Estate so such access does not interfere with <br />Buyer's intended use of the Real Estate. <br />e. Define or locate the west boundary line involving the vacation of Jackson Street. <br />f. Define or locate the snow fence easement owned by the Minneapolis, St. Paul and <br />Sault Ste. Marie Railway Company so such access does not interfere with Buyer's <br />intended use of the Real Estate. <br />4. CONTINGENT OBLIGATION. The obligation of Buyer to close on this <br />transaction is contingent upon each and all of the following: <br />a. The suitability of the soils on the Real Estate for the intended purpose of Buyer. <br />b. The ability to secure appropriate bank financing for the project. <br />c. Verification of any and all matters which Buyer deems reasonably necessary for <br />its intended development of the Real Estate. <br />-2-18- <br />