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<br />PURCHASE AGREEMENT
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<br />1.. PARTIES. This Purchase Agreement is made this 9th day of May, by and between
<br />Jack D. Gaudette, owner (the "Seller") and the MOUNDS VIEW ECONOMIC
<br />DEVELOPM.EJ.'\i'T AUTHORITY, a public body corporate and politic, 2401 Highway 10,
<br />Mounds View, M.."t"J 55112-1499 ("Buyer").
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<br />2. SUBJECT PROPERTY. Seller is the owner of that certain real estate (the
<br />"Property") located at 3016 County Road H2, Mounds View, and legally described as
<br />follows;
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<br />PLAT: KNOLLWOOD PARK, RAMSEY caUNTY LaT 37 SUBJECT TO
<br />ROAD EASEMENT, Mounds View, Minnesota according to the plat filed for
<br />record with the Ramsey County Rccorder
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<br />3. OFFER/ACCEPTANCE. In consideration of the mutual agreements herein
<br />contained, Buyer offers and agrees to purchase and Seller agrees to sell and hereby grants to
<br />Buyer the exclusive right to purchase the Property and all improvements thereon, together
<br />with all appurtenances, including, but not limited to, garden bulbs, plants, shrubs, trees, and
<br />grass.
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<br />4. CONTINGENCY/ACCEPTAi.~CE DEADLINE. This Purchase Ah'l"eemen.t shall
<br />be presented to the Board of the Buyer within 6 days of the date it is submitted to Buyer,
<br />fully executed by Seller herein. Ifthe Buyer does not approve this Purchase Agreement, all
<br />Earnest Money shaH be refunded to the Buyer.
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<br />5. PERSONAL PROPERlY INCLUDED IN SALE. The following itcms of
<br />personal property and fixtures owned by Seller and clLrrently located on the Property are
<br />included in this sale: stonn windows and lnserts, storm doors, screens. awnings, window
<br />shades, blinds, cllrtain-traverse--drclpety rods, attached lighting fixtures with bulbs, plumbing
<br />fixtures, sump pumps, water heaters, heating systems, built-in appliances, water softeners,
<br />garbage disposals, installed carpeting, work benches, television antennas, refrigerator,
<br />washer, dryer, range/oven, and hood-fans.
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<br />6. PURCHASE PRICE AND TERMS.
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<br />A. Purchase Price. The total Purchase Price for the rea) and personal property
<br />and fixtures included in this sale is one hundred fifty thousand and
<br />No/I00ths Dollars ($150,000.00).
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<br />B. Terms.
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<br />(1 ) PAYMENT OF PURCHASE PRICE TO SELLER. Buyer agrees to
<br />pay by check the amount of One Thousand five hundred and
<br />No/lOOths Dollars (SI500.00) as earnest money (the "Earnest
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