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, rM No.262-La„r111090) wanr'� Room rn n' ;
<br /> VACANT LAND PURCHASE AGREEMENT
<br /> This form approved by the Minnesota Association of
<br /> REALTORS' Minnesota Association of REALTORS'
<br /> disclaims any liability ansind out of use or misuse of this form.
<br /> I Date_ August 26, 1993
<br /> 2 Page 1 of 4 _-----__---pages
<br /> a RECEIVED OF R. Property, � .
<br /> 4 the One thousand and no 100 s----------------------= Dollars ($ 1,000.00
<br /> 5.by CHEC SWNOTE as earnest money to be deposited upon acceptance of Purchase Agreement by all parties,on or before the next
<br /> 6 business day after acceptance,in a trust account of listing broker but to be retumed to Buyer If Purchase Agree nt Is not accepted by
<br /> 7.Seller. Said earnest money is part payment for the purchase of the property located at Approximately acres
<br /> a _ located on Highway #49-
<br /> 9. City f vino Lakes , County of Anoka , Staff of Minnesota,
<br /> 10.legally described as: Legal as described in Exhibit A
<br /> 11.
<br /> 12.including the following property,if any,owned by Seller and located on said property. all garden bulbs,plants,shaft and blew wA also the llobolwing
<br /> la personal property: None
<br /> 14.all of which property Seller has this day agreed to sell to Buyer for the sum (* ; `, _ sand and no/1001 s--
<br /> 15. 70,000.00 ) Dollars,
<br /> 16 which Buyer agrees to pay in the following manner. Earnest money of $ 1,000.00 and$ 15,000.00
<br /> 17.cash on or before December 1, 1993 the data of closing, and the balanced$-_ 54,000.00
<br /> la by financing in aloccirdlyrw-mifth the attached financing addendum:
<br /> 19.Assumption Contract for Conventional Purchase Money Mortgage Other N/A
<br /> - -- - - - ro•a.a»1 -- - -
<br /> 2Q SPECIAL CONTINGENCIES: This Purchase Agreement is subject to the following contingencies and if the following contingencies checed below
<br /> 21.cannot be saii✓fied or waived, in writing, by Buyer by December 1 , 19 93 this Purchase Agreement shall become nun
<br /> l and void and all earnest money shall be refunded to the Buyer. Buyers and Sellers agree to sign a cancellation of the Purchase Agreorttent.
<br /> �t3(Select appropriate options a-h)
<br /> N/A 24. O (a) BUYER/SELLER shall provide a certificate of survey of the property, at BUYER/SELLER eogxnrA not later than
<br /> 25 _ 19_
<br /> N/A 26 O (b) Bar-obtaining -
<br /> approval of cityAiownship of proposed building plans and specifications at BUYER/SELLER egxnse,
<br /> -"man"
<br /> N/A 27. ❑ (c) Buyer obtaining approval of city/township of proposed subdivision development plans at BUYER/SELLER a tpense.
<br /> pb,- "---
<br /> N/A 2a O (d) Buyer obtaining approval of cityrtownship for rezoning or use permits at BUYER/SELLER apensa
<br /> - Oaka"o,a -. .--
<br /> 29. O (e) Buyer obtaining BUYER SELLER expense, percolation tests which are acceptable to Buyer,
<br /> 3Q ❑ (f) Buyer obtainingat(BUYER SELLER expense, soil tests which indicate that the property may be improved without extraordinary building
<br /> 31. methods or cost.
<br /> N/A 32. ❑ (g) Buyer obtaining approval of building plans and/or specifications in accordance with any recorded subdivision covenants and approval of
<br /> 3a the architectural control committee
<br /> 34. 0 (h) CTHER: Buver successfully closing purchase of adjoining 20 acres from Vernon
<br /> 35 Lehmann
<br /> 36 Seller's expenses for these contingencies (d any) shall not eceed $ N/A
<br /> -T" Seller grants permission Of access to the property for testing and surveying purposes.
<br /> 3a PLEASE NOTE: Buyer may incur additional charges improving the property including but riot limited It Hook-up andbr access chargerh mull
<br /> icipal
<br /> 39 &OPM costs for MW access, stubbing access, water access, panic dedi ation, road access, utility con m
<br /> 4Q and tree planting charges
<br /> nection and caecting fees, curb cuts
<br /> 41.To the best of the Seller's knowledge there are no hazardous wastes, abandoned wens, or underground storage tams, ampt as herein noted.
<br /> 42.SPECIAL WARRANTIES: Sell wararts that the property described in this Purchase Agreement consists d
<br /> 5 � SQUARE FEET and is currently coned R-1
<br /> cam.aM
<br /> 44.Seller warrants that the property IS c IS NOT n the designated 100 year flood plain area
<br /> 4S Seller warrants that the p opetty DOES DOES N receive preferential tax treatment (.e., Green Acres, etc.).
<br /> 46 Attached are other addenda which are mac a part of this Purchase Agreement. (Enter page or pages on line 2)
<br /> 47.DEED/MARKETABLE TITLE: Upon performance by Buyer, Seller shall deliver a Contract For yyairrantty Deed Jolnei4
<br /> 4a in by spouse, if any, conveying marketable title, subject to:
<br /> 49.(A) Building and zoning laws,ordinances,state and federal regulations:(B) Restrictions relating to use or improaernent of the property without effective 511 forfeiture provisions; (C) Reservation of any mineral rights by the State of Minnesota; (D) Utility and drainage easements which do not interfere
<br /> 51.with existing improvements; (E) Rights of tenants as follows (unless specified, not subject b tenancies): N/A
<br /> 52.
<br /> 5a(F) Othas (Must be specified in writing):_ N/A
<br /> 54.TITLE & EXAMINATION: Sealer shall, within a reasonable time after acceptance of this agreement, fumish an abstract of titte4 or a registered
<br /> 55 property abstract,cortified to date to include proper searches covering bankruptcies,state and federal judgments and liens,and levied and pending
<br /> 56 special assmmoints. Buyer shall be allowed 10 business days after receipt of abstract for examination of title and making any objections
<br /> 57 shall be made in writing or deemed waived. If any objection is so made, Seller shall have 10 business days from receiptwhich
<br /> of Buyer's written title
<br /> ` notify Buyer of Seller's intention to make title markyUbte within 120 days from Seller's receipt of such written objection. If notice is
<br /> 5..,,Aen,payments hereunder required shall be postponed pending correction of title,but upon correction of title and within 10 days after written notice
<br /> 60.to Buyer the pam;es shall perform this Purchase Agreement according to its terms. If no such notice is given or if notice is given but title is not
<br /> 61.corrected within the time provided for,this Purchase Agreement shall be null;and void,at option of Buyer,neither party Shan be Gable for damages
<br /> 62.horet:nder b the otlher and earnest money shall be refunded to Buyer, guyer and Seller agree to sign cancellation d Purchase
<br /> 6a agroes to accopt an owner's title policy in the full amount of the purchase price in lieu d an abstract d title if the Agreement. Buyer
<br /> 64.abstract or if no abstract d title is in Seller's policy() ProPorN is subject b a master
<br /> possession or control. If Buyer i r to reeenre such 1 the tide ammination period shall commence
<br /> 65 upon Buyer's receipt d a current title insurance commitment and (2) Seller shall pay the entire premium for uch policy if no lender's policy is
<br /> 661 obtained,and only the additional cost of obtaining a simultaneously issued owner's policy if a lender's o, is nod(Buyer shag the
<br /> 67.for the tinder's policy). pay premium
<br /> 6a Seller and Buyer Initial: Seller Date, 4- Buyor Date
<br /> M. rrN•VI PA-1 fl)gM �-
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