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Yorkton ltd:'°
<br />PURCHASE AGREEMENT
<br />SL Patti, Minn. __ 113y 2(5_1985
<br />Contract-for-Deed
<br />RECFIVVD or R.L.F. ENTERPRISES
<br />the sum of FIVE HUNDRED & N0 /100 (y 500.00 ) DOLLARS
<br />Ci ctk-
<br />��y T 1Check, Cvh or Note - Sate Which)
<br />6/ CONDUIT, SI'REEF situated in the
<br />County of I AMSEY Slate of Minnesota, and legally described as follows, lo-wit:
<br />SEE EXHIBIT "An ATTACHED
<br />including all garden bulbs, plants, shrubs and trees, all storm cosh, storm doors, detachable vestibules, screens, awnings, window shades blinds
<br />(Including venetian blinds), curtain rods, traverse mils. drapery rods, lighting fixtures and bulbs, plumbing fixtures, hot water tanksand cheating
<br />plant (with any burners, laa poorkers and tier equipment sint na,.inciconnectionil tar ewiti'),water. softener and liquid gas tank and controls (If
<br />the property of seller), sum p, in dishwasher, garbage disposal, ovens, rook tap sloven and
<br />central air conditioning eq nipn(ent If any, used And loca led on mid premises and ischrdi ng also the following personal property:
<br />as earnest money and in part payment for the purchase of property at
<br />all of which property the undersigned has this day sold to the buyer for the sun of:
<br />1W11117 FIVE 1110USAND & N0 /100 is 25,000.00
<br />which the buyer agrees to pay In the following manner:
<br />Earnest nnoney herein paid $ 500.00 and S -0- cam urn OR BEFORE 9/1/05
<br />s ?IL 5882_00 by contract for deed between seller and pin
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<br />YEAR nkrmxwRenAlw> �$RP f k'..
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<br />payable in installments of $2,500.00 per 6 month period ne ifg interest
<br />twelve (127,) per cent per annum. Interest shall run from closing. First
<br />be due and payable on March 1, 1986, and subsequent payments shall be due
<br />on the same day of each succeeding 6 month period. Payments shall he cred
<br />interest and remainder to principal. The entire balance of this contract
<br />and payable in full no later than August 30, 1990. Buyers shall not have
<br />repay this Contract for Deed.
<br />See Exhibit "B" attached.
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<br />DOLLARS,
<br />at the rate of
<br />payment shall
<br />and payable
<br />ited first to
<br />shall be due
<br />the right to
<br />Subject to performance by we buyer We seller agrees to execute and deliver a __.__...__._ I1JLL-_- --- ------ _. __ Warranty Dead
<br />(to be. Joined In by spouse, if any) convey Ing Inar kelab le title to said incmisec sthbjecl only m ter fnlln w ing exceptions:
<br />(al Building and zoning laws, ordinances, Slate and Federal mqulatimns.
<br />(b) Restricrimtc leispig to use on improve enf of premises without eft ellve forfeiture provision.
<br />(c) Reservation of any minerals or mineral rights to the State of Minncsola.
<br />(d) Utility and drainage easements which do not interfere with present improvements.
<br />(e) Rights of tenants as follows: (unless specified, not subject to tenant es)
<br />The buyer shall pay the real estate taxes due 111 the year 19._06. and Any n ipt id installments of special assemme nts payable therewith
<br />and thereafter. The seller shall pay the real estate faxes doe In the y ar 19i1_0 and any unpaid installments of special assessments payable
<br />therewith. -Bella - -warm err -Inn-rend- emote- ienes- doe -in- the- yeer- l -0will- be_- _......_.. .._- _ homcalena -dnni-
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<br />Neither Yosklot, Ltd. its agenda, not the seller or ifs agents ma 'c any representation or warranty whatsoever concerning the amount of
<br />real estate taxes which shall be assessed against the properly subsequent to the dale of pnmbnse.
<br />Seller covenants that buildings, if any, are entirely within the b tindery lines of the property and agrees m remove all personal property
<br />not Included therein and all debris from the premises prior to possessin dale. Seller warrants all appliances, heating, air conditioning,
<br />wiring and plumbing used and located on said premises are in 1 roper workirl order al date of closing.
<br />int seller end co agrees i h.li Unless ss possession ther t s e later fi Ilan ______llbeclsed o_. __bete y_.providal that all conditions t. of this
<br />agreement hove been complied with. Unless olhowisc specified this rile shall be dotal on or letups 60 days bum the dam hereof
<br />In the event this property Is destroyed or substantially damaged by fire or any other cause bef"re the closing da k. this ngrremenl shall
<br />become null and void, at the purchaser's option, and all monies paid hereunder shall be refunded to hint.
<br />Vie buyer and seller also mutually agree that pro am atj oslrner111 f 1p1Vt11y� nleresh, insnranre and city water, soil, In the ease of
<br />income proper 1Y, current operating expenses, shall be made as of _____
<br />'line safer shall, d le to Within a reasonable er sear alto approval b nk his agreement, nd furnish d nb Judp of s an of n Reitz hna Property
<br />e
<br />Abstract certified to dam to include proper sevens Covering Said babe n dl des, making Sate and Federal Judgments and oent'I0n hula stall be
<br />writing 10 days al ter receipt thereof for c xmnin objections ar of s toe th . el the all 1,, (i and 120 days tl i eke. said titImarketable. ks In he made Ih
<br />roiling on oeemed to pe waived. If any r teqeti are so node the bit null be aiimvcd I2(I dad's n mike such dl y n notice
<br />ovee boy of title the payments erform this requbed acre be postponed, but neon arncatinn of Iifk and within 10 days alter nn loco nulls
<br />to the buyer, the pet ties sloth per loon Win amccmnnt according m its trans.
<br />If said title is not marketable and is not made so within 120 d ys from the dale of written objections thereto AS above provided, this
<br />agreement shall be null and void at the option of the buyer and ncith r principal shall be liable for damages hereunder to W< other principal.
<br />All money theretofore paid by the buyer shall be refunded. If the till to said properly be found marketable or be so made within said tom,
<br />and said buyer shall default Ina any of the agreements and continue n default for a period of 10 days, then and in that case the stile, may
<br />lerndna le this cat/ad and tin such tot m innt ton all the payments made mpon this contract shall be retained by said seller and said agent, as their
<br />respective interests may appear, as liquidated damages, time being of Ile essence hereof. lit is provision shall not deprive either party of line
<br />right of enforcing the specific per fotment° of this contract provided sr ch contract shall not be l et mina led as afohnsaid, and provided action to
<br />enforce such specific performance shall be commenced wilhhh six coon ll s after such right of act inn cull anise.
<br />11 Is understood and agreed that this sale 0 made subject to Or approval by the owner of aid premises In wilting and that the under-
<br />signed ague It in no manner liable or oesponalble on account of 0hi1 a acanelt, except to •cram or account for the earnest money paid under
<br />this contract.
<br />The delivery of all papers and monies shall be made at the office of.
<br />YORKTON, LTD., INC.
<br />2345 N. Rice Street
<br />5f. Paul, Alfraresofa 55113
<br />Ole undersigned, owner of the above land, do hereby approve
<br />the above agreement and the sale thereby marl°.
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<br />snc�, �
<br />THIS IS A LEGALLY BINDING COI'
<br />lini<too
<br />Ry.-------- NONE - ---
<br />_ Agent
<br />I hereby agree to purcbaso the said properly for the price and
<br />upon the terns above mentioned, tiotned, and subject In all conditions
<br />herein exp teased
<br />Page 95
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<br />EEK CTMIf IENI ECAL ADVICE.
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