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OPTION CONTRACT
<br />oonsideratio,
<br />• Par n.,,4 ,t, ronnirinrntinn, of thr. .v, n,. of. One ($1.00) and other good and valuable/ Ronnie
<br />it the undersigned
<br />to inn; in. hand pa irt, the ereei pl. whereof is hereby ark Trawled deal* hernhh !lean tan a in the City
<br />of Little Canada, a municipal corperation,
<br />fha 24th.....
<br />day of
<br />„o Op/ ion far
<br />June /,p 82
<br />One Itundred Forty Thousand and No /100 ($140,000.00)
<br />341
<br />therm fear„
<br />to p,vrhner for the err la of
<br />1101.1,e1
<br />he 'nth'? he Cart airy of
<br />Ramsey nnrl .Siof, of - Minnesota , la-,,.u.
<br />1. That portion of the North 195.63 feet of the East 439 feet of the
<br />Northwest One Quarter of the Southwest One Quarter, except the North
<br />200 feet and except the South 105 feet of the West 443.44 feet, West
<br />of the railroad right of way of the South One half of the South
<br />One Half of the Northwest One Quarter, as designated on the attached
<br />Exhibit A as Parcels A and B, and
<br />2. That part of the North 255.63 feet of the Northeast One Quarter of
<br />the Southwest One Quarter West of the Minneapolis, St. Paul and
<br />Saulte St. Marie railway right of way, except the West 60 feet of
<br />the South 60 feet thereof, designated as Parcel No. C on the attached
<br />Exhibit A.
<br />TIT", /hr folio; Pin d (rears ova renalitinne, taer(; 9Q/ X thtde rs i.gned (Seller) shall:
<br />1. Pay real estate taxes and speci.alassessnents payable therewith up to and including
<br />those payable in the calendar year 1982;
<br />2. Pay all outstanding special assessments for improvements made to and benefitting the
<br />subject property whether or not said special assessments are part of the taxes of the
<br />properties;
<br />3. Convey by Warranty Peed free of all liens and encumbrances;
<br />4. Seller will provide easements necessary across i.ts property to the westerly side of ty
<br />property described above so as to alloy Buyer, its successors and assigns reasonable
<br />ingress and egress from the property herein optioned.
<br />5. Buyer agrees to provide an easement across the northerly portion of the above- descrilr
<br />property for access of emergency vehicles to the rear of Seller's buildings, to the
<br />extent said access is required by applicable laws and regulations.
<br />said City of Little Canada their
<br />talrn or reject. Ilia sane by dire nation ire Corinne within the limn above .slent/al, any o failure la .sari
<br />etrelr antler rai(Jnin, the Nam sport/hat .shalt terminate 7Jris Oplinar nd /hant f',,(J,rr orator?. time hrinit the,
<br />earonen of this adreernent.
<br />This Agreement represents an extension of and supersedes that Option Contract
<br />executed by the undersigned on Ix;half of the City of Little Canada dated June 24, 1982.
<br />In ea sr said.notiira .shall be re, rent in erne l unit rhrn, 61 d.ry, rboll hr
<br />r.rr, whir:h to era mine Mar real . male do - -la ,red rio, enlr.
<br />The Market Place, a Minnesota General
<br />Partnership, by its General Partner,
<br />2900 Rice, a Minnesota Limited
<br />Partnership
<br />4s'I1.41)
<br />By: i
<br />irrTres P. Stellick, a General Partin
<br />2900 Rice, a Minnesota Limited
<br />Partnership.
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