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• PURCHASE AGREEMENT
<br /> 1. PARTIES. This Purchase Agreement is made this 20 day of O C?, I , 1998 by
<br /> and between JOE W TZMAN, a single person, owner and seller (the "Seller") and the MOUNDS
<br /> VIEW ECONOMIC DEVELOPMENT AUTHORITY, a public body corporate and politic, 2401
<br /> Highway 10,Mounds View,MN 55112-1499("Buyer").
<br /> 2. SUBJECT PROPERTY. Seller is the owner of that certain real estate (the "Property")
<br /> located at 6991 Pleasant View Drive,Mounds View,and legally described as follows:
<br /> Lot 70, KNOLLWOOD PARK, Mounds View, Minnesota, according to the plat
<br /> filed for record with the Ramsey County Recorder.
<br /> 3. O.NFER/ACCEPTANCE. In consideration of the mutual agreements herein contained,
<br /> Buyer offers and agrees to purchase and Seller agrees to sell and hereby grants to Buyer the
<br /> exclusive right to purchase the Property and all improvements thereon, together with all
<br /> appurtenances, including, but not limited to, garden bulbs,plants,shrubs, trees, and grass.
<br /> 4. CONTINGENCY/ACCEPTANCE DEADLINE. This Purchase Agreement shall be
<br /> presented to the Board of the Buyer within 30 days of the date it is submitted to Buyer, fully
<br /> executed by Seller herein. If the Buyer does not approve this Purchase Agreement, all Earnest
<br /> . Money shall be refunded to the Buyer.
<br /> 5. PERSONAL PROPERTY INCLUDED IN SALE. The following items of personal
<br /> property and fixtures owned by Seller and currently located on the Property are included in this
<br /> sale: storm windows and inserts, storm doors, screens, awnings, window shades, blinds, curtain-
<br /> au) traverse-drapery rods, attached lighting fixtures with bulbs, plumbing fixtures, sump pumps, veer
<br /> heaters, heettifig-sy3tex4s, built-in appliances, water softeners, garbage disposals, installed carpeting,
<br /> work benches, television antennas and hood-fans. Upon delivery of the deed, Seller shall also
<br /> deliver a Bill of Sale for the above personal property.
<br /> 6. PURCHASE PRICE AND TERMS:
<br /> A. PURCHASE PRICE: The total Purchase Price for the real and personal property
<br /> and fixtures included in this sale is Sixty Thousand Five Hundred and No/100ths
<br /> Dollars ($60,500.00).
<br /> B. TERMS:
<br /> (1) PAYMENT OF PURCHASE PRICE TO SEJ.i,FR. Buyer agrees to pay by
<br /> check the amount of One Thousand and No/100ths Dollars ($1,000.00) as
<br /> earnest money (the "Earnest Money") to be deposited by Seller with Title
<br /> •
<br /> Insurer/Closer within three (3) days after the date of this Agreement and
<br /> held and disbursed under the terms of this Agreement on the Date of
<br /> Closing. Buyer agrees to pay the Balance Due of Fifty Nine Thousand Five
<br /> Hundred and No/100ths Dollars ($59,500.00) in cash or by check on the
<br /> SJR-148110
<br /> MU205-12
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