12-19-2012 Council Agenda - Laserfiche WebLink

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Purchaser grant Seller the right to continue occupancy of the Property until January 31, 2013 subject to the terms and conditions as provided for in the Occupancy Agreement attached hereto as Exhibit B. 19. Well Disclosure. Seller certifies a well is present on the subject property. Seller shall prepare a Well Disclosure Certificate in the form required by Minnesota Law. 20. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon Seller and Purchaser and their respective heirs, executors, legal representatives, successors and assigns. It is further understood that Purchaser may assign this Agreement to another party, and that Seller understands that Seller acquires no additional rights because of this assignment. 21. Waiver of Relocation /Voluntary Sale. Seller acknowledges this transaction is occurring on a voluntary basis. Seller further agrees that no person(s) will be displaced or relocated as a result of any purchase by the Purchaser. Seller waives any rights they may have under the Uniform Relocation Act of 1970, and the regulation adopted pursuant thereto by the United States Department of Housing and Urban Development, and any applicable Minnesota taw relating to relocation. 22. Purchaser's Option to Purchase Site Agreement. Purchase is hereby granted the option to purchase the Site Agreement executed by and between Donovan Construction Inc., as lessor and APT Minneapolis, Inc. as lessee, dated August I, 1996, as amended by that certain First Amendment to Site Agreement dated March 31, 1997 and last executed on April I, 1997, including any addenda and amendments thereto for a price of Two Hundred Fifty Thousand and no /100 ($250,000). The terms of the purchase are attached in Exhibit C. Said option must be exercised by written notice dated and mailed no later than December 26, 2012 and delivered as described in Provision #16 oi'this Purchase Agreement. If option is exercised, the amount due shall be paid at closing upon execution of the terms of purchase attached as Exhibit C and satisfaction of all terms contained therein. 23. Time of the Essence. Time is of the essence of this Agreement and the closing of the transaction contemplated hereby. 24. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota. 25. Entire Agreement. This Agreement constitutes the entire agreement of the parties relative to the sale of the Property. The parties acknowledge there exists no understanding or provisions relative to the sale of the Property except as set forth in this Agreement. This Agreement may not be changed, waived, discharged or terminated except in writing executed by Purchaser and Seller or canceled pursuant to statute. Page 7 of 9 11: \loelFI \ Correspondence \Joel 2012 \Donovan Construction Purchase Agreement - Attorney Reviewed - 12.12.12.doe 8