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VACANT LAND PURCHASE AGREEMENT This form approved by the Minnesota Associalion of
<br /> REAL[OnS, Minnesota Associalion of REALTORS"
<br /> Dale- disclainis any liahihty arisu in'g o of use or misuse of this lfort,------ - Au ust 13�1993 ------ _.. ---- —
<br /> Z�. Page 1
<br /> 3 RECEIVED OF _ R. Property, Inc. Pages
<br /> 4.the of _ One thousand and no/100's-.-------------
<br /> 5. CHE :SH-N6�E-as earnest money to be deposited upon _-------�---'--- Dollars ($1�0 0.00 )
<br /> cO7j°" Po acceptance of Purchase Agreement by all parttlea,on or before the next
<br /> 6 business day after acceptance,In a trust account of listing broker but to be returned to Buyer If Purchase r —rTt Is not accepted by
<br /> 7.Seller. Said earnest money is pad payment for the purchase d the /�
<br /> a ^ property located at: Highway49
<br /> 9 City of Lino Lakes
<br /> 10 legally described as: The south County of_ Anoka , State of Minnesota,
<br /> of the SEA of the NEB of Section 31, Townshi 31N,
<br /> 11, Range 22W located in Lino Lakes, County of Anoka
<br /> 12.Including the following properly,if any,owned by Seller and located on said
<br /> None gym' all garden plants,shrubs and irh ;;and also the iblloaNng
<br /> 13 personal property:
<br /> 14.all of which property Seller has this day agreed to sell to B
<br /> for the sum � M � `�15 no/190 s--_____ "� d: °t ��e "e" �tht's► t:hotxt4tnd and
<br /> 16,which Buyer agrees to pay in the following manner. Earnest money d $ 1,000.00 _ "_.____ ($280.OQ0.Ot) _) paw
<br /> 17.cash on or before December 1 1993 arrd'$ 27,000.00
<br /> 1a by financing in accordance with the attached financing + the date of dosing, and the balance d$ 252,000.00
<br /> 19.Assum lion ntract far elxlum:
<br /> ----P_ — - Deed Conventional Purchase Mone�r IMortcage Other _
<br /> 20 SPECIAL CONTINGENCIES: This Purchase -
<br /> 2t.cannot he satisfied or waned, in is Pure as Agreement is subject to the following contingencies and if the tollowi axiti
<br /> n9 rxfenciee checlaed below
<br /> become
<br /> 22. and void and all earnest I,noney shall be refundded�to the Bu r. B e 1 19't the Pump R9rsemertt shall
<br /> ye uyers and Sellers agree to sign a cancellation Of the Purchase ttnuil
<br /> 23(Select appropriate o Ions a-h)
<br /> 2 (a) BUYER/ ELLER hall provide a certificate Of survey of the property, at BUYER/ E�- --__--� .LEER e)Cpense, not later than
<br /> 25 19
<br /> 26. O (b) Buyer obtaining approval Of 014*wnship of proposed building plans and specifications at BUYER/SELLER expense.
<br /> 27. C] (c) Buyer obtaining __—cam.cm)
<br /> approval d cityAownship Of Proposed subdivision development plans at BUYER/SELLER
<br /> - - (d"v,„ —— use
<br /> 2a O (d) Buyer obtaining approval OfcityRownship for rezoning or use permits at BUYER/SELLER expense.
<br /> 29.)4 (e) Buyer obtaining d UYER SELLER expense, percolation test which are acceptable to Buyer.
<br /> 3Q (fl Buyer obtaining KBUYIM&I SELLER expense, soil tests which Indicate that the property may be improved without extraordinary
<br /> Si. methods or cost. nary building
<br /> 32. O (g) Buyer obtaining apprt:>,ral of building Plans arxibr
<br /> specificabiris
<br /> 33 the architectural control committee. in accordance with any recorded subdivision covenants and approval of
<br /> 34•X (h) OTHER: Buyer obtainin reliminar plat a royal from CitY of Lino Lakes to divide
<br /> 35. the proRerty into at least 40 residential homesites
<br /> 36 Seller
<br /> �nses for these contingencies (if any) shall not exceed $ N/A
<br /> 9 Permission Of access to the property for' testing and surve�nng Purposes
<br /> �PLEASE NOTE: Buyer may incur additional charges im .
<br /> 40 and tree planting
<br /> access, stubbing access, water the property including but not limited y Hook-up up andbr ace access Pik dedication, read access, utility connection and ems, municipal
<br /> 41,To the best d the Seller's lvhovvl ��� �' curb �
<br /> edge there are no hazardous wastes, abandoned wells, or underground
<br /> 42.SPECIAL WARRANTIES: Seller warrants that the property described in this Purchase storage as herein '
<br /> 43_ 2 0 ACRES/SQUARE FEET and is currently Agreement consists d
<br /> c'"11 _-- nUy coned R-1
<br /> 44.Seller warrants that the Property iS c S NOT the designated 100 year flood plain area.
<br /> 4a�e�el r warrants that the property DOES
<br /> 46a ES __
<br /> f receive Preferential tax treatment (i.e., Green Acres, etc,),
<br /> are otlher addenda which are made a Part of this Purchase Agreement. (Erb page or pew on line 2)
<br /> 47.DEED/MARKETABLE TITLE: Upon Performance by Buyer Seller shall deliver a Contract for
<br /> I 4a in by spouse, if any, conveying marketable Warranty Deed joinecj
<br /> title, subject b:
<br /> 49. A) Building and zoning laws,ordinances,state and federalregulations; Restrictions 5Q re Provslons; (mil Reservation d any mineral rights bby the Statte)of MinMinM ; p) b use d improwmertt d the
<br /> Property nteriere
<br /> 51.with existing improvements; (E) Right of tenants as follows unless �) Utility and fecdve
<br /> drainage easements h tt id
<br /> 52. ( specified, not subject to tenancies):_N/A
<br /> 5a(F) Others (Must be specified in writing):
<br /> I
<br /> 54.TITLE & EXAMINATION: Seller shall, within a
<br /> reasonable bk registered
<br /> time after
<br /> property ,certified tD date to include aceeptarice d this agreement, fumish an
<br /> 5ra special Buyer shall be aibwed10businesss days a{teerr � of lee'state and federal judgments andLiens,and levied a per
<br /> Of or a
<br /> 57.shall be made in writing or deemed waived. ff receipt abstract for examination d title and maki
<br /> ol s to � Buyer d Seller's intention to make tide market r et made, Seller shall have 10 business days from recei�d oblec:tions whicch
<br /> 59 given,payrnertts hereunder required shall be Postponed pending within 120 days from Seller's receipt d such written
<br /> uyer's written title
<br /> 60 to Buyer the Parties shall perbrin this Purchase Agreement Ord orrection a title,but upon correction d title and within 10 days written is
<br /> 61,a ed within the time Provided for,this Purchase Agree b terns. if no such notice is given or if notice is given but title is not
<br /> 32.h§„�,'ider to the other and earnest Aggreement shall be nut and void,at option d Buyer;agrees ►Honey shall be refunded to B uyer and Seller neither party shall be liable for damages
<br /> 344 «> an owner's title Policy in the full amount of the purchase ��ro sign cancellation of Purchase
<br /> N no abstract d the is in Seller's Price in lieu of an abstract of title ff the Agreement. Buyer
<br /> Possession or control. If Buyer rs to recelue such motion is subject to a masher
<br /> xa upon Buyer's receipt d a current title insurance commitment and (2) Seiler shall (1)the title such
<br /> period shall commence
<br /> 3.obtained,and only the additional cost d obtaining a simultaneous pay the entire premium for such
<br /> 37 for the lender's Policy), y issued owner's Policy if a lender' obtained Policy if no lender's policy Is
<br /> vc,
<br /> (Buyershall Paythe premium
<br /> �le i a c� Initial: Seiler
<br /> ___ Date Buyer L
<br /> Date �/
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