08-25-1997 EDA - Laserfiche WebLink

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PURCHASE AND REDEVELOPMENT AGREEMENT • THIS AGREEMENT is made as of the day of 199 by and among the MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY, a public body politic and corporate under the Iaws of the State of Minnesota (the "Authority"), and , a Minnesota (the "Developer")_ WITNESSETH: WHEREAS, the Authority is the owner in fee simple of the parcel of land (the "Land") located in the City of Mounds View, County of Ramsey, State of Minnesota, and legally described as: [INSERT LEGAL DESCRIPTION] The Land and all rights, privileges, easements, tenements, hereditaments, and appurtenances belonging thereto, shall hereinafter be referred to as the "Property". WHEREAS, the Authority deems it to be in the public interest to facilitate and encourage redevelopment of the Property by private activity; and • WHEREAS, the Developer has " P proposed a development ( Development") within such Property which the Authority believes will promote and carry out the objectives of the Authority, will be in the vital best interests of the Authority, will promote the health, safety, morals, and welfare of its residents and will be in accord with the public purposes and provisions of the applicable state and local laws and requirements under which activities within the Authority have been undertaken and are being assisted; and WHEREAS, the Developer proposes to construct on the Property aft single family residential home. ' WHEREAS,the Developer is willing to purchase the Property and to develop the Property for and in accordance with this Agreement; and WHEREAS, the Authority desires to convey the Property to Developer and Developer is desirous of purchasing the same. NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby covenant and agree as follows: • SJR128590 M7205-2