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• the property. <br /> 2. Once a negotiated price has been reached, a contract for purchase, with the <br /> attached form of purchase agreement and"waiver of relocation payment" form <br /> must be executed by the seller for the acquisition process to continue. The <br /> relocation benefits which the seller agreed to waive, must be clearly explained at <br /> this time, if not explained previously. <br /> 3. The acquisition and disposition of the property is in conformance with the Mounds <br /> View Comprehensive Plan. <br /> 4. Following EDA authorization of these agreements seller will be requested to <br /> assemble or supply all required documentation prior to closing. <br /> 5. The seller must be prepared to vacate the property on the day of closing. <br /> Special considerations during the acquisition process: <br /> a. Non-homestead vacant property will be considered for acquisition. <br /> b. Tenant occupied property cannot be acquired. <br /> c. Property expenses related to maintenance, taxes, and insurance should be <br /> minimized since the EDA does not intend to retail title to the property. <br /> d. Review appraisal services may be part of the negotiating process to determine <br /> purchase price. <br /> e. Negotiated prices considerably below the assessor's market value, may be <br /> accepted without appraisal on a case by case basis if the seller concurs. <br /> f. Number of acquisitions is determined by available resources (funding and staff). <br /> 5 <br />