Resolution 01-EDA150 - Laserfiche WebLink

Home Browse Search

Appendix A: Purchase A2reement Sales Contract u.s. Department of Housing and Urban Development . . . Office of Housing Property DISposition Program Federal Housing Commissioner ewe). Mounds View Economic Development Authority urc~ase:(s)) agree to purch.ase on the terms set forth herein, the following property. as more particularly sCribed In the deed conveYing the property to the Secretary of Housing and Urban Development: 2091 Hillview Road, Mounds View, Ramsey County, Minnesota (street number, street name, unit number, if applicable, city, county, State) 2. The Secretary of Housing and Urban Development (Seller) agrees to sell the property at the price and terms set forth herein. and to prepare a deed containing a covenant which warrants against the acts of the Seller and all claiming by ,through or under him. Title will be taken in the following name(s) and style: Mounds View Economic Development Authority 3. The agreed purchase price of the property is ........................................................................................................ > 3. $ 80,000 Purchaser has paid $ as earnest money to be applied on the purchase price, and agrees to pay the balance of the purchase price. plus or minus prorations. at the time of closing. in cash to Seller. The earnest money deposit shall be held by 4. D Purchaser is applying for FHA insured financing [D 203(b), D 203(b) repair escrow, D 203(k)] with a cash down payment of $ due at closing and the balance secured by a mortgage in the amount of $ for months (does not include FHA Mortgage Insurance Premium. prepaid expenses or closing costs Seller has agreed to fund into mortgage.). D Said mortgage involves a repair escrow amounting to $ . n Purchaser is paying cash or applying for conventional or other financing not in vol ving FHA. 5. 'setler will pay reasonable and customary costs, but not more than actual costs, nor more than paid by a typical Seller in the area, of obtaining financing andlor closing (excluding broker's commission) in an amount not to exceed ..... > 5. $ 6a. Upon sales closing, Seller agrees to pay to the broker identified below a commission (including selling bonus, if offered by seller) of.................................................................................................................... > 6b. Ifbroker identified below is not the broad listing broker, broad listing broker will receive acommission of: .. > 7. The net amount due Seller is (Purchase price [Item 3] less Items 5 and 6) ........................................................... > 8. Purchaser is: D owner-occupant (will occupy this property as primary residence) D investor o nonprofit organization 0 public housing agency D other government agency. Discount at closing: % . Discount will reduced by amounts, if any, listed on Line Items 5 and 6. e is of the essence as to closing. The sale shall close not later than 60 days from Seller's acceptance of contract. Closing all be held at the office of Seller's designated closing agent or to be determined to. If Seller does not accept this offer, Seller 0 may 0 may not hold such offer as a back-up to accepted offer. 11. Lead based paint addendum IXJ is 0 is not attached; Other addendum 0 is D is not attached hereto and made part of this contract. 12. Should Purchaserrefuseor otherwise fail to perfonnin accordance with this contract,including the time Iimitation,Sellerinay, at Seller'ssoleoption, retain all or a portion of the deposit as liquidated damages. The Sellerreservesthe right to apply the earnest money ,or any portion thereof.to any sums which may be owed by the Purchaser to the Seller for rent. Purchaser(s) Initials: Seller's Initials: 13. This contract is subject to the Conditions of Sale on the reverse hereof, which are incorporated herein and made part of this contract. Certification of Purchaser: The undersigned certifies that in affixing hislhel"lits signature to this contract he/sheJit understands: (1) aU the contents thereof (including the Conditions of Sale) and is in agreement therewith without protest; (2) be/she/it is responsible for satisfying itself as to the full condition of the property; and (3) that Seller will not perfonn repairs' after acceptance of this contract. Purchaser(s): (type or print names & sign) Purchaser{s) Address: .' Mounds View Eco.nomic Development Authority 2401 Highway 10 7'.... (~...-- Mounds View, MN 55112 I HUO Case No. 6a.$ 6b.$ 17~$80,000 I Purchaser(s) Social Security umber {S ployer Identification Number (EIN) (include hyphens) Phone No: 4 - (v 00 ~ q I 2- I ~ 3 - .., I 7 - 4000 Seller. Secretary of Housing and Urban Development By: (lype name & litle, & sign) X Date Purchaser(s)Signed Contract: JUNE 'Zq 'Z.OOI Date Contract Accepted by HUD: Certification of Broker: The undersigned certifies that: (I) neither he/she nor anyone authorized to act for him/her has declined to sell the property described herein to or to make it available for inspection or consideration by a prospective purchaser because of his/her race, color, religion, sex, familial status, national origin, or disability; (2) he/she has both provided and explained to the purchaser the notice regarding use of Seller's closing agent; (3) he/she has explained fully to the purchaser the entire terms of the contract, including Condition B on the reverse hereof; and (4) he/she is in compliance with Seller's earnest money policy as set forth on HUD forms SAMS-Illl, Payee Name and Address, and SAMS-llll-A, Selling Broker Certification, which he/she has executed and filed with Seller. Broker's Business Name & Address: (for IRS reporting) (include Zip Code) Broker's EIN or SSN: (include hyphens) SAMS NAID: . Signature of Broker. Broker's Phone No: X rype or print the name and phone number of sales person: rhis section for Hue use only. Broker notified of: I' AxuthOriZing Signature & Date: ] Acceptance 0 Back-Up No. ] Rejection 0 Return Earnest Money Deposit