Laserfiche WebLink
PURCHASE AGREEMENT <br />1. Parties. This Purchase Agreement is made this day of , 2012 by <br />and between DC, Inc., a Minnesota Corporation, (hereinafter "Seller ") and the Little Canada <br />Economic Development Authority, a political subdivision under the laws of the State of <br />Minnesota OR the City of Little Canada, a Minnesota Municipal Corporation (hereinafter <br />"Purchaser "), for the sale and purchase of the property described in the following paragraph. <br />2. Property. Seller hereby agrees to sell and Purchaser hereby agrees to buy real <br />property located at 53 South Owasso Boulevard West, within the City of Little Canada, and <br />Ramsey County, Minnesota legally described as follows: <br />PIN #06- 29 -22 -22 -0017, also described as follows: <br />The north 253 6 /10 feet of the South 486 1/10 feet of part easterly of Soo Line Railroad <br />right -of -way of NW '/ of NW ''A (subject to easements) in Section 6, Township 29, <br />Range 22 West, Ramsey County, Minnesota. <br />3. Purchase Price. The property described in the preceding paragraph is to be sold to the <br />Purchaser for the sum of Four Hundred Eight Thousand Five Hundred and no /100 ($408,500), <br />which the Purchaser agrees to pay in the following manner: <br />Five Thousand Dollars ($5,000) earnest money, by check, receipt of which is hereby <br />acknowledged. <br />Four Hundred Three Thousand Five Hundred Dollars ($403,500) cash, at the time of <br />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. Subject to a driveway easement over the west 33 feet of the property. (Easement <br />existence /width need to be verified.) <br />d. Site Agreement with APT Minneapolis, Inc. (a copy of which is attached as <br />Exhibit A) regarding cell tower on property. <br />Page 1 of 9 <br />1- 1: \loel11 \Correspondence \Jeel 2012 \Donovan Construction Purchase Agreement - Attomcy Reviewed - 12.12.12.doc <br />2 <br />