Laserfiche WebLink
* *DRAFT — NOT APPROVED BY CITY COUNCIL ** <br />PURCHASE AGREEMENT <br />1. Parties. This Purchase Agreement is made this _ day of , 1999 by <br />and between Richard J. Schreier, Patricia A. Schreier, Gerald Mogren, and Arlene Mogren, <br />hereinafter "Seller," and City of Little Canada, a Minnesota Municipal Corporation, and/or <br />assigns, hereinafter "Purchaser," for the sale and purchase of the property described in the <br />following paragraph. <br />2. Property. Seller hereby sells and Purchaser hereby buys real property located in <br />Ramsey County, Minnesota legally described as follows: <br />PIN #06-29-22-21-0040 N %,;: C ,.., , , 1 0 :,..:✓ ., - t <br />3. Purchase Price. The property described in the preceding paragraph is hereby sold to <br />the Purchaser for the a sum tol e. determined by __Micheal.Bettendorf, a.certified Mmnesbta,real <br />estate appraiser, subject to. the. property'" s: value being rn the' range of'$2M0t to +$2 50 per square <br />foot Thee, applied:against the actuabsquare footage of>the property: as detem inedzby a Registered Land <br />S409Y9t and 4CliPeatediant Paragraph #12: f ($ <br />whie -h-t The Purchaser agrees to pay the purchase. price in the following manner: <br />$10,000 earnest money, by check, receipt of which is hereby acknowledged. Earnest <br />money paid hereunder shall be deposited in the Trust Account of C.I. Title, Inc., upon <br />execution by Seller of this Purchase Agreement. <br />$ The balancer111 cash, at the time of closing. <br />4. Permitted Encumbrances. Upon and subject to performance by Purchaser, the Seller <br />shall execute and deliver to Purchaser on the date of closing a Warranty Deed conveying <br />marketable title to said property subject only to the following: <br />a. Reservations of minerals or mineral rights by the State of Minnesota, if any. <br />b. Building, zoning and subdivision laws and regulations. <br />c. Restrictions relating to use or improvement of the premises which do not conflict <br />with present use or contain effective forfeiture provision. <br />d. Utility and drainage easements which do not interfere with present improvements. <br />All of the above exceptions may hereafter collectively be referred to as "Permitted <br />Encumbrances." <br />Page 114 <br />