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PURCHASE AGREEMENT <br />1. Parties. This Purchase Agreement is made this _ day of , 1999 by <br />and between Precision Landscape & Tree Inc. a Minnesota Corporation, hereinafter "Seller," and <br />City of Little Canada, a Minnesota Municipal Corporation, and/or assigns, hereinafter <br />"Purchaser," for the sale and purchase of the property described in the 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 -14 -0007 (2929 Country Drive) <br />3. Purchase Price. The property described in the preceding paragraph is hereby sold to <br />the Purchaser for the sum of One Hundred Eighty -five Thousand Three Hundred Sixty -eight and <br />no /100 Dollars ($185,368.00) which the Purchaser agrees to pay 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 />$175,368, cash, at the time of closing. <br />4. Relocation Payment. Pursuant to the Uniform Acquisition and Relocation Act (Act), <br />Purchaser shall also pay to Seller a one -time relocation payment of Twenty -five Thousand and <br />No /100 Dollars ($25,000.00) as evidence of full compliance with the Act. Seller shall have no <br />further claims against the City of Little Canada pursuant to these requirements as evidence by <br />their execution of Statement and Waiver of Additional Claims attached as Exhibit "A." This <br />payment shall be made in addition to the purchase price at the time of closing. Seller shall then <br />execute Exhibit "A." <br />5. 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 />Page 93 <br />