11-23-2005 Additions - Laserfiche WebLink

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PURCHASE AGREEMENT PURCHASE AGREEMENT, made this Z day of November, 2005, by and between the CITY OF LITTLE CANADA, a Minnesota municipal corporation ( "Seller ") and TOPC, LLC, a Minnesota Limited Liability Company ( "Buyer "). RECITALS: A. Seller desires to sell and Buyer desires to purchase certain real estate situated in Ramsey County, Minnesota, described as: PIN #07- 29 -22 -43 -0003, the legal description of which is represented by Seller to be: That part of the West one -half of the Southeast quarter of Section 7, Township 29, North, Range 22 West, lying west of the westerly right of way line of the Minneapolis, St. Paul and Sault Ste. Marie Railway Company as now located and established and southerly of the southerly right of way line of Trunk Highway No. 36 as now located and established; which lies northerly and easterly of the following described line: Beginning at a point on the South line of Rosedale Avenue distant 133 feet westerly of its intersection with the north and south quarter line of said Section 7; thence run east on the south line of Rosedale Avenue and its easterly extension for 166 feet; thence deflect to the right at an angle of 45 degrees 00 minutes 00 seconds and run southeasterly to an intersection with a line run parallel with and distant 60 feet northwesterly of the northwesterly right of way line of said Minneapolis, St. Paul and Sault Ste. Marie Railway Company; thence run southwesterly on said 60 foot parallel line to its intersection with a line run parallel with and distant 33 feet north of the south line of said Section 7, and there terminating, (the "Real Estate "), and B. The exact legal description of the Real Estate will govern as determined by such surveys and title examinations as are necessary, and C. The parties desire to set forth their agreement by this written instrument. NOW THEREFORE, in consideration of the foregoing Recitals, the mutual covenants and promises made herein, and for other good and valuable consideration, it is hereby agreed as follows: 1. SALE AND PURCHASE. Seller agrees to sell and Buyer agrees to purchase from Seller the Real Estate pursuant to the terms and conditions of this Agreement. Seller shall also provide Buyer with an easement over an. area generally described as being East of the vacated road but westerly of the panhandle of the adjoining real estate owned by Seller for use by Buyer as a storm water retention pond (see Schedule 1 attached hereto). - 1 6 -