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PURCHASE AGREEMENT <br /> Mounds View,Minnesota <br /> ,2014 <br /> IN CONSIDERATION OF THE MUTUAL COVENANTS, DUTIES AND <br /> OBLIGATIONS CONTAINED HEREIN. the MOUNDS VIEW ECONOMIC <br /> DEVELOPMENT AUTHORITY, a public body politic and corporate under the laws of the <br /> State of Minnesota,whose business address is 2401 County Road 10, Mounds View,MN 55112, <br /> ("Buyer") and Shelly D. Parker, a single person ("Seller"), agrees to the following Purchase <br /> Agreement("Agreement"). <br /> THE CONDITIONS AND TERMS OF THIS PURCHASE AGREEMENT <br /> INCLUDE THE FOLLOWING: <br /> 1. SUBJECT PROPERTY: The Seller is the owner of certain real estate (the "Property") <br /> located in Ramsey County, Minnesota,which is legally described on the attached Exhibit <br /> A. <br /> 2. OFFER/ACCEPTANCE: In consideration of the mutual agreements herein contained, <br /> Buyer offers and agrees to purchase and Seller agrees to sell and convey the Property, <br /> pursuant to the terms of this Agreement. <br /> 3. ACCEPTANCE DEADLINE: This Agreement shall be null and void unless it has been <br /> executed by both Seller and Buyer by October 30,2014. <br /> 4. PURCHASE PRICE AND TERMS: <br /> A. PURCHASE PRICE. The purchase price(the"Purchase Price")for the Property <br /> shall be Fifty Thousand Dollars ($50,000.00)payable as follows: Fifty Thousand <br /> Dollars ($50,000.00)at Closing by certified check or other immediately available <br /> funds. <br /> B. DOCUMENTS TO BE DELIVERED BY SELLER AT CLOSING. At <br /> Closing, Seller agrees to execute and shall deliver to Buyer: <br /> 1. Warranty Deed conveying title to the Property to the Buyer free and clear <br /> of all liens and encumbrances except the following items (allowable <br /> encumbrances): <br /> a) Building and zoning laws, ordinances, state and federal statutes or <br /> other governmental regulations; <br /> b) Easements and restrictions of record which do not interfere with <br /> 449809v2 NICE MU205-45 <br /> 1 <br />