06-10-2013 - Laserfiche WebLink

Home Browse Search

DRAFT 1 425582v2 SJR MU210-213 PURCHASE AGREEMENT 1. PARTIES. This Purchase Agreement (the “Agreement) is made this ____ day of June, 2013, by and between Krystal Maintenance, Inc., a Minnesota corporation (the “Seller”), and the Mounds View Economic Development Authority, a public body corporate and politic under the laws of the state of Minnesota (the “Buyer”). 2. SALE OF PROPERTY. Seller is the owner of that certain real estate located at 2394 County Road 10, Mounds View, Ramsey County, Minnesota (the “Property”) and is subject to an ALTA survey of the Property prepared by a registered land surveyor (the “Survey”) and paid for by the Buyer at its sole expense. See Exhibit A attached for legal description. 3. OFFER/ACCEPTANCE. In consideration of the mutual agreements herein contained, Buyer offers and agrees to purchase and Seller agrees to sell and hereby grants to Buyer the exclusive right to purchase the Property and all improvements thereon, together with all appurtenances, including, but not limited to, plant, shrubs, trees, and grass, excluding any furniture, fixtures and equipment owned by tenant on the Property. Seller shall have until June 11, 2013, at 4:30 p.m., to accept this Agreement. 4. PURCHASE PRICE AND TERMS: A. PURCHASE PRICE: The purchase price of the Property shall be $300,000.00. The purchase price shall be paid in cash on the date of the closing (approximately $300,000.00). B. TERMS: (1): EARNEST MONEY: No earnest money shall be paid by Buyer to the Seller, the agreement to which is hereby acknowledged. (2): BALANCE DUE SELLER: Buyer agrees to pay by check on the Closing Date any remaining Balance Due according to the terms of this Purchase Agreement. (3): DEED/MARKETABLE TITLE: Subject to performance by Buyer, Seller agrees to execute and deliver a Warranty Deed conveying marketable title to the Property to Buyer, subject only to the following exceptions: