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PURCHASE AND REDEVELOPMENIT AGREEMENT <br /> THIS AG <br /> 199 by and among�sheMOUNDS VIEW ECONOMICs made as of the day of <br /> a public body DEVELOPN,�NT AUTHORITY, <br /> and politic and corporate under the laws of the State of Minnesota (the "Authority"), <br /> a Minnesota (the "Developer"). <br /> WITNESSETH: • <br /> WHEREAS, the Authority is the owner in fee simple of the <br /> located in the City of Mounds View, County of Ramsey, parcel M of land (the "Land y <br /> described as: <br /> y, State offWmof <br /> and legally <br /> [INSERT LEGAL DESCRIPTION] <br /> The Land and all rights, privileges, easements, tenements, <br /> belonging thereto, shall hereinafter be referred to as the "Property ' and appurtenances <br /> " <br /> WHEREAS, the Authority deems it to be in the public interest to facilitate and encourage <br /> redevelopment of the Property by private activity; and " <br /> WHEREAS, the Developer has proposed a development Dev <br /> 411/Property which the Authority believes willeiopment") within such <br /> {" <br /> will be in the vital best interests of the Authority, will carry <br /> moa the health,out the Vsafety,es the Authority,a d <br /> welfare of its residents and will be in accord with thepublicov i morals,of and <br /> applicable state and Iocai laws and purposes and provisions the <br /> been undertaken and are requirements under which activities within the Authority have <br /> being assisted; and <br /> 'WHEREAS, the Developer proposes to construct on the Property a <br /> single family residential home. sq. ft. <br /> AREAS,the Developer is willing to purcl the Property <br /> for and in accordance with this��e and develop the Property <br /> WHEREAS, the Authority desires to convey the Property to Developer and Developer is <br /> desirous of purchasing the same.• <br /> • <br /> NOW, THEREFORE, in consideration of the mutual covenants and a <br /> contained and other valuable consideration, the receipt and sufficiency of which are herebents y <br /> acknowledged, the parties hereby covenant and wee as follows: <br /> 11 <br /> S-R128S90 <br />