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f'd */-x,,&_.,C&d .a-& <br /> i <br /> fA/4- <br /> 411/ MIEMORAND UM <br /> TO: MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY <br /> FROM: CATHY BENNETT <br /> ECONOMIC DEVELOPMENT COORDINATOR <br /> RE: PURCHASE AGREEMENT 2625 HIGHWAY 10 <br /> DATE: OCTOBER 9, 1995 <br /> As indicated in my staff report for tonight's EDA meeting, attached is the draft purchase <br /> agreement for 2625 Highway 10. The purchase agreement includes earnest money of$10 until <br /> the date of closing which is scheduled for November 6, 1995. In addition, the agreement <br /> includes a provision whereby the owner may remove cabinets and appliances. I will be meeting <br /> with the owner to develop a list of the cabinets and appliances that will be an attachment to the <br /> purchase agreement. Line 127 adds the contingency that the City complete a successful <br /> environmental phase I report. This is estimated to cost approximately$1,200 - $1,500. All <br /> • other items are standard real estate purchase items. <br /> I just received the copy of this draft report this afternoon and have not had an opportunity to <br /> review it further with Kennedy & Graven to see if there are other items that should be addressed. <br /> Upon the EDA's approval I will share the draft with the seller, set up a phase I environmental <br /> report and pursue title searches to enable the closing on November 6, 1995. <br /> , <br /> III <br />