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06-22-2020 EDA
CITY OF MOUNDS VIEW ECONOMIC DEVELOPMENT AUTHORITY MEETING AGENDA MOUNDS VIEW CITY HALL Monday, June 22, 2020 6:00 p.m. 1. CALL TO ORDER 2. ROLL CALL: President Mueller, Vice President Hull, Commissioner Gunn, Commissioner Meehlhause, Commissioner Bergeron 3. APPROVAL OF AGENDA 4. CONSENT AGENDA A. Approval of Minutes: June 8, 2020 5. PUBLIC COMMENT Citizens may speak to issues not on tonight’s agenda. Before speaking, please give your full name and address for the minutes. Also, please limit your comments to three minutes. 6. EDA BUSINESS A. Consider 20-EDA-336 a resolution approving a listing agreement for EDA land and authorizing staff negotiations on behalf of the EDA. 7. REPORTS 8. NEXT EDA MEETING: July 13, 2020 at 6:00 p.m. as needed 9. ADJOURNMENT PROCEEDINGS OF THE MOUNDS VIEW EDA 1 CITY OF MOUNDS VIEW 2 RAMSEY COUNTY, MINNESOTA 3 4 Regular Meeting 5 June 8, 2020 6 Mounds View City Hall 7 2401 Mounds View Boulevard, Mounds View, MN 55112 8 9 10 1. CALL MEETING TO ORDER 11 12 President Mueller called the meeting to order at 6:00 p.m. Due to the COVID-19 pandemic this 13 meeting was held virtually. 14 15 2. ROLL CALL: President Mueller, Vice President Hull, Commissioner Bergeron 16 Commissioner Gunn, Commissioner Meehlhause, and Executive Director Zikmund. 17 18 NOT PRESENT: None. 19 20 3. APPROVAL OF AGENDA 21 22 MOTION/SECOND: Gunn/Meehlhause. To Approve the June 8, 2020, Agenda as presented. 23 24 A roll call vote was taken. 25 26 Ayes – 5 Nays – 0 Motion carried. 27 28 4. CONSENT AGENDA 29 30 A. February 10, 2020, EDA Minutes. 31 32 MOTION/SECOND: Meehlhause/Bergeron. To Approve the Consent Agenda as presented. 33 34 A roll call vote was taken. 35 36 Ayes – 5 Nays – 0 Motion carried. 37 38 5. PUBLIC COMMENT 39 40 None. 41 42 6. EDA BUSINESS 43 44 A. Brokerage Listing Agreement for EDA Owned Property. 45 Mounds View EDA June 8, 2020 Regular Meeting Page 2 1 Assistant City Administrator Beeman requested the Authority consider approving a Brokerage 2 Listing Agreement for EDA owned property. He explained ReMax contacted the City last fall 3 regarding the Tires N More property. He reported it would be nice for the City to have one 4 broker (ReMax) representing all three of the parcels in order to get the property marketed. He 5 reviewed the listing agreement and marketing materials for this property. It was noted no fee or 6 commission would be charged to the City from ReMax for the listing and sale of this property. 7 8 Douglas Harris, Commercial Broker with ReMax, introduced himself to the EDA and stated he 9 represents the commercial arm of ReMax Results. 10 11 President Mueller discussed the three properties that would be listed by ReMax, which included 12 the Tires N More site, the two connected buildings on the Simons property and the residential lot 13 behind the Simons property that is owned by the City. She questioned how large the parcel 14 would be for all three properties. Assistant City Administrator Beeman stated all three parcels 15 would be 2.04 acres in size. 16 17 President Mueller asked if all three properties could have the same contract in place. Mr. Harris 18 reported he has had the Simons property under contract for just over a month and a one year 19 contract was signed. He indicated he has had the Tires N More property for the last two weeks 20 and a one year contract was in place. 21 22 President Mueller inquired if all of the contracts should expire at the same time. Mr. Harris 23 stated this could be done. He reported the sellers supported selling the properties all together and 24 understood this would be the most appealing for a potential developer. 25 26 Commissioner Meehlhause questioned if the goal for ReMax was to sell all three properties as 27 one. Mr. Harris indicated all three properties were being marketed and both sellers recognize this 28 was a more attractive approach for developers. However, at the same time, he was marketing the 29 properties separately. 30 31 Commissioner Meehlhause commented the vision for the City was to redevelop these properties 32 together. Mr. Harris stated this would be his preference and noted he would remain open in order 33 to appease the sellers. 34 35 Commissioner Gunn asked what the properties were zoned. Mr. Harris reported the Simons and 36 Groveland property were zoned B-2 and 2832 was zoned B-3. 37 38 Commissioner Gunn inquired if the City should rezone all of these properties the same. 39 Community Development Director Sevald encouraged the City to be flexible to rezone the 40 property in the future depending on what kind of development were to come forward. 41 42 Mounds View EDA June 8, 2020 Regular Meeting Page 3 Commissioner Gunn questioned what the price was for the residential lot. Assistant City 1 Administrator Beeman commented the EDA has not set a price for this parcel. He noted the 2 County has a value of $64,000. He anticipated ReMax could provide the City with a broker’s 3 opinion of value for this property. Mr. Harris commented he could provide the EDA with this 4 information and noted the price at this time was listed as negotiable in order to allow him to 5 work with developers. Assistant City Administrator Beeman discussed the expense future 6 developers would have to incur in order to demolish the existing buildings. 7 8 Commissioner Gunn suggested ReMax review the boundary between Tires N More and CVS 9 because there were issues or a misunderstanding of who owned the back property. Mr. Harris 10 thanked Commissioner Gunn for this information. 11 12 Commissioner Gunn questioned how this property would be marketed. Mr. Harris discussed 13 how the property would be marketed and explained he would bring developer ideas to the EDA 14 for consideration. 15 16 Commissioner Meehlhause asked if the City-owned property could be used as a bargaining chip. 17 Assistant City Administrator Beeman stated this would be a tool available to the EDA to assist 18 developers with completing a new project. 19 20 Commissioner Hull explained he supported the proposed brokerage listing agreement. 21 22 President Mueller recommended the annual average income for each of the properties be 23 reviewed by ReMax. Mr. Harris stated he would investigate this further. 24 25 MOTION/SECOND: Hull/Bergeron. To Authorize Staff to Cooperate with the City Attorney 26 and all Necessary Parties to Further Review any Documents, Agreements and Resolutions for the 27 Brokerage Listing Agreement for EDA Owned Property. 28 29 A roll call vote was taken. 30 31 Ayes – 5 Nays – 0 Motion carried. 32 33 7. REPORTS 34 35 None. 36 37 8. NEXT EDA MEETING: Monday, June 22, 2020 at 6:30 p.m. 38 39 9. ADJOURNMENT 40 41 President Mueller adjourned the meeting at 6:36 p.m. 42 Mounds View EDA June 8, 2020 Regular Meeting Page 4 1 Respectfully submitted, 2 3 4 Recorded and transcribed by: 5 Heidi Guenther 6 Minute Maker Secretarial 7 Item No 6A Meeting Date: June 22, 2020 Type of Business: EDA Administrator Review : ____ City of Mounds View Staff Report To: EDA President and Commissioners From: Brian Beeman, Assistant City Administrator Item Title/Subject: Consider 20-EDA-336 a resolution approving a listing agreement for EDA land and authorizing staff negotiations on behalf of the EDA. Introduction: Remax has successfully listed both the Tires N More (1.04 acres) and Simon’s (.59 acres) properties. The EDA owns a (.41 acre) vacant lot adjacent to these two lots for a total of 2.04 acres. In the past, the EDA has given direction to staff that the EDA may consider selling the EDA owned lot if a developer also purchases both the Tires N More and Simon’s properties. Remax would like to market the entire site as a redevelopment project but that doesn’t exclude them from selling the two lots separately. The lot was originally purchased by the EDA October 15, 2000 for $125,000 which included a small house. The EDA rented out the home for a short time. Since that time, the City demolished the home and the lot has sat vacant for several years. Ramsey County has place the current estimated market value at $64,300 for the lot. Because the EDA owns the lot, there is currently no taxable income from the property and Public Works maintains the lot. Discussion: At its June 8, 2020 regular meeting, the EDA reviewed the listing agreement and additional marketing materials from Remax. The EDA by motion, agreed to move forward in listing the EDA owned property with REMAX and instructed staff to prepare the resolution and have the City Attorney review any necessary agreements. It was decided that a price would not be listed in case the land is to be used as a bargaining tool. Instead, the price is listed as, “negotiable”. Remax has also agreed that it will market all three properties as one redevelopment area and that it will not charge the EDA for brokerage fees and any other fees. Strategic Plan Strategy/Goal: Create and maintain a positive business climate where businesses want to locate and remain in Mounds View. Maximize utilization of development space and current redevelopment sites. Fill vacant space and support redevelopment & development. Continue and focus on public relations activities. Financial Impact: None. Recommendation: Staff recommends that the EDA consider 20-EDA-336, A resolution approving a listing agreement for EDA land and authorizing staff negotiations on behalf of the EDA. Respectfully submitted, ________________________ Brian Beeman Assistant City Administrator Attachments: 1) 20-EDA-336, A resolution approving a listing agreement for EDA land and authorizing staff negotiations on behalf of the EDA 2) Remax & Mounds View EDA Listing Agreement MU205\13\658001.v3 EDA RESOLUTION 20-EDA-336 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA A RESOLUTION APPROVING A LISTING AGREEMENT FOR EDA LAND AND AUTHORIZING STAFF NEGOTIATIONS ON BEHALF OF THE EDA WHEREAS, the Mounds View Economic Development Authority (the “EDA”) is the owner of certain real property located at 7861 Groveland Road in the City of Mounds View (the “City”) which is legally described on Exhibit A attached hereto (the “Property”); and WHEREAS, the EDA wishes to sell the Property and has determined that it should list the Property with a licensed real estate brokerage firm to aid in the sale process; and WHEREAS, the EDA has decided to list the Property with Douglas Harris and Mark Hulsey (the “Brokers”) of Re/MAX Results Commercial Group under a listing agreement dated June 9, 2020, which will commence June 22, 2020 and terminated on June 9, 2021 (the “Listing Contract”); and WHEREAS, the EDA and Brokers have agreed per the Listing Contract that the sale of the Property shall only occur if the sale of 2840 and 2832 Mounds View Boulevard in the City shall occur to an EDA approved developer; and WHEREAS, the EDA has determined, through reasonable investigation, it wishes to enter into the Listing Contract, in substantively the form shown on Exhibit B, attached hereto. NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of the City of Mounds View, Minnesota: 1. The recitals set forth above in this Resolution are incorporated into and made a part of this Resolution. 2. The EDA hereby approves the Listing Contract in substantially the form presented to the EDA on the date below and further subject to any modifications that do not alter the substance of the transaction and that are approved by the EDA’s attorney. 3. The proper EDA officials, staff and consultants are authorized to execute the Listing Contract and to take any and all other steps necessary or convenient in order to carry out the obligations under the Listing Contract, as well as to fulfill the intent of this Resolution. 4. The President, EDA staff, the EDA attorney, and EDA consultants are hereby authorized and directed to take any and all additional steps and actions necessary or convenient in order to accomplish the intent of this Resolution. 2 MU205\13\658001.v3 Adopted on the 22nd day of June, 2020. _________________________________ Carol A. Mueller President Attest: ________________________________ Nyle Zikmund Executive Director A-1 MU205\13\658001.v3 EXHIBIT A LEGAL DESCRIPTION OF THE PROPERTY The North 116 feet of the South 761 feet of Lot 57, Auditor’s Subdivision No. 89, Ramsey County, Minnesota. Torrens Property B-1 MU205\13\658001.v3 EXHIBIT B LISTING CONTRACT AGENCY RELATIONSHIPS IN REAL ESTATE TRANSACTIONS 1. Page 1 2. MINNESOTA LAW REQUIRES that early in any relationship, real estate brokers or salespersons discuss with 3. consumers what type of agency representation or relationship they desire.(1) The available options are listed below. This 4. is not a contract. This is an agency disclosure form only. If you desire representation you must enter into a 5. written contract, according to state law (a listing contract or a buyer/tenant representation contract). Until such time 6. as you choose to enter into a written contract for representation, you will be treated as a customer and will not receive 7. any representation from the broker or salesperson. The broker or salesperson will be acting as a Facilitator (see 8. paragraph IV on page two (2)), unless the broker or salesperson is representing another party, as described below. 9. ACKNOWLEDGMENT: I/We acknowledge that I/we have been presented with the below-described options. 10. I/We understand that until I/we have signed a representation contract, I/we am/are not represented by the 11. broker/salesperson. I/We understand that written consent is required for a dual agency relationship. 12. THIS IS A DISCLOSURE ONLY, NOT A CONTRACT FOR REPRESENTATION. 13. (Signature) (Date) (Signature) (Date) 14. I. Seller’s/Landlord’s Broker: A broker who lists a property, or a salesperson who is licensed to the listing broker, 15. represents the Seller/Landlord and acts on behalf of the Seller/Landlord. A Seller’s/Landlord’s broker owes to 16. the Seller/Landlord the fiduciary duties described on page two (2).(2) The broker must also disclose to the Buyer 17. material facts as defined in MN Statute 82.68, Subd. 3, of which the broker is aware that could adversely and 18. significantly affect the Buyer’s use or enjoyment of the property. (MN Statute 82.68, Subd. 3 does not apply to 19. rental/lease transactions.) If a broker or salesperson working with a Buyer/Tenant as a customer is representing the 20. Seller/Landlord, he or she must act in the Seller’s/Landlord’s best interest and must tell the Seller/Landlord any 21. information disclosed to him or her, except confidential information acquired in a facilitator relationship (see paragraph 22. IV on page two (2)). In that case, the Buyer/Tenant will not be represented and will not receive advice and counsel 23. from the broker or salesperson. 24. II. Buyer’s/Tenant’s Broker: A Buyer/Tenant may enter into an agreement for the broker or salesperson to represent 25. and act on behalf of the Buyer/Tenant. The broker may represent the Buyer/Tenant only, and not the Seller/Landlord, 26. even if he or she is being paid in whole or in part by the Seller/Landlord. A Buyer’s/Tenant’s broker owes to the 27. Buyer/Tenant the fiduciary duties described on page two (2).(2) The broker must disclose to the Buyer material facts 28. as defined in MN Statute 82.68, Subd. 3, of which the broker is aware that could adversely and significantly affect 29. the Buyer’s use or enjoyment of the property. (MN Statute 82.68, Subd. 3 does not apply to rental/lease transactions.) 30. If a broker or salesperson working with a Seller/Landlord as a customer is representing the Buyer/Tenant, he or 31. she must act in the Buyer’s/Tenant’s best interest and must tell the Buyer/Tenant any information disclosed to him 32. or her, except confidential information acquired in a facilitator relationship (see paragraph IV on page two (2)). In 33. that case, the Seller/Landlord will not be represented and will not receive advice and counsel from the broker or 34. salesperson. 35. III. Dual Agency - Broker Representing both Seller/Landlord and Buyer/Tenant: Dual agency occurs when one 36. broker or salesperson represents both parties to a transaction, or when two salespersons licensed to the same 37. broker each represent a party to the transaction. Dual agency requires the informed consent of all parties, and 38. means that the broker and salesperson owe the same duties to the Seller/Landlord and the Buyer/Tenant. This 39. role limits the level of representation the broker and salesperson can provide, and prohibits them from acting 40. exclusively for either party. In a dual agency, confidential information about price, terms and motivation for pursuing 41. a transaction will be kept confidential unless one party instructs the broker or salesperson in writing to disclose 42. specific information about him or her. Other information will be shared. Dual agents may not advocate for one party 43. to the detriment of the other.(3) 44. Within the limitations described above, dual agents owe to both Seller/Landlord and Buyer/Tenant the fiduciary 45. duties described below.(2) Dual agents must disclose to Buyers material facts as defined in MN Statute 82.68, Subd. 46. 3, of which the broker is aware that could adversely and significantly affect the Buyer’s use or enjoyment of the 47. property. (MN Statute 82.68, Subd. 3 does not apply to rental/lease transactions.) MN:AGCYDICS-1 (8/19) Carol A. Mueller Nyle Zikmund AGENCY RELATIONSHIPS IN REAL ESTATE TRANSACTIONS 48. Page 2 49. IV. Facilitator: A broker or salesperson who performs services for a Buyer/Tenant, a Seller/Landlord or both but 50. does not represent either in a fiduciary capacity as a Buyer’s/Tenant’s Broker, Seller’s/Landlord’s Broker or Dual 51. Agent. THE FACILITATOR BROKER OR SALESPERSON DOES NOT OWE ANY PARTY ANY OF THE FIDUCIARY 52. DUTIES LISTED BELOW, EXCEPT CONFIDENTIALITY, UNLESS THOSE DUTIES ARE INCLUDED IN A 53. WRITTEN FACILITATOR SERVICES AGREEMENT. The facilitator broker or salesperson owes the duty of 54. confidentiality to the party but owes no other duty to the party except those duties required by law or contained in 55. a written facilitator services agreement, if any. In the event a facilitator broker or salesperson working with a Buyer/ 56. Tenant shows a property listed by the facilitator broker or salesperson, then the facilitator broker or salesperson 57. must act as a Seller’s/Landlord’s Broker (see paragraph I on page one (1)). In the event a facilitator broker or 58. salesperson, working with a Seller/Landlord, accepts a showing of the property by a Buyer/Tenant being represented 59. by the facilitator broker or salesperson, then the facilitator broker or salesperson must act as a Buyer’s/Tenant’s 60. Broker (see paragraph II on page one (1)). 61. (1) This disclosure is required by law in any transaction involving property occupied or intended to be occupied by 62. one to four families as their residence. 63. (2) The fiduciary duties mentioned above are listed below and have the following meanings: 64. Loyalty - broker/salesperson will act only in client(s)’ best interest. 65. Obedience - broker/salesperson will carry out all client(s)’ lawful instructions. 66. Disclosure - broker/salesperson will disclose to client(s) all material facts of which broker/salesperson has knowledge 67. which might reasonably affect the client(s)’ use and enjoyment of the property. 68. Confidentiality - broker/salesperson will keep client(s)’ confidences unless required by law to disclose specific 69. information (such as disclosure of material facts to Buyers). 70. Reasonable Care - broker/salesperson will use reasonable care in performing duties as an agent. 71. Accounting - broker/salesperson will account to client(s) for all client(s)’ money and property received as agent. 72. (3) If Seller(s)/Landlord(s) elect(s) not to agree to a dual agency relationship, Seller(s)/Landlord(s) may give up the 73. opportunity to sell/lease the property to Buyer(s)/Tenant(s) represented by the broker/salesperson. If Buyer(s)/ 74. Tenant(s) elect(s) not to agree to a dual agency relationship, Buyer(s)/Tenant(s) may give up the opportunity to 75. purchase/lease properties listed by the broker. 76. NOTICE REGARDING PREDATORY OFFENDER INFORMATION: Information regarding the predatory offender 77. registry and persons registered with the predatory offender registry under MN Statute 243.166 may be 78. obtained by contacting the local law enforcement offices in the community where the property is located, 79. or the Minnesota Department of Corrections at (651) 361-7200, or from the Department of Corrections Web site at 80. www.corr.state.mn.us. MN:AGCYDISC-2 (8/19) LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL 1. Date 2. Page 1 of pages 3. DEFINITIONS: This Contract involves the property located at , 4. City of , 5. County of , State of Minnesota, Zip Code , 6. legally described as (“Property”). 7. Seller is (“Seller”). 8. Broker is (“Broker”). (Real Estate Company Name) 9. This Contract starts on , and ends at 11:59 p.m. on 10. . This Contract terminates upon successful closing of the Property(ies) specified 11. in this Contract or expiration or cancellation of this Contract, whichever occurs first. 12. This Contract may only be canceled by written mutual agreement of the parties. 13. PRICE: Seller offers the Property for sale for the price of $ , upon the following 14. terms: . 15. LISTING: Seller gives Broker the exclusive right to sell the Property. In exchange, Broker agrees to list and market 16. the Property for sale. Broker may place a “For Sale” sign and a lock box with keys on the Property, unless prohibited by 17. governing authority. Seller understands this Contract DOES NOT give Broker authority to rent or manage the Property. 18. Seller understands Broker may be a member of a Multiple Listing Service (“MLS”), and if Broker is a member of the MLS, 19. and where available, Broker may give information to the MLS concerning the Property. Broker may place information 20. on the Internet concerning the Property, including sold information (except as limited in the following MLS Data Feed 21. Options section). Upon final acceptance of a purchase agreement, Seller allows Broker to withdraw the Property from 22. the market. If Broker sells the Property, Broker may notify the MLS and member REALTORS® of the price and terms 23. of the sale. Seller acknowledges that neither Broker, the MLS, the Minnesota Association of REALTORS®, nor any 24. other broker is insuring Seller or occupant against theft, loss, or vandalism. 25. MLS DATA FEED OPTIONS: 26. EXPLANATIONS AND DEFINITIONS: 27. “IDX site” means a web site operated by a broker participating in the MLS on which the broker can advertise the 28. listings of other brokers in MLS, subject to certain MLS rules. The consumer visiting an IDX site is not required to 29. register on the site or to have a brokerage relationship with the broker displaying listings on the site. 30. “Virtual office web site” (“VOW”) means a web site operated by a broker participating in the MLS that delivers 31. brokerage services to consumers over the world wide web. Visitors to a VOW are required to register on the site (with 32. their name and a real e-mail address) and enter a brokerage relationship with the broker operating the VOW. The 33. broker operating the VOW can then show the visiting customer/client nearly all of the information available to the broker 34. in MLS. The seller(s) of a listing has the right to opt out of certain kinds of data display under the MLS’s VOW policy. 35. The MLS imposes various other rules and restrictions on VOWs. 36. For each of the following options, the MLS system automatically defaults to “Yes.” Seller’s instructions pertaining to the 37. Internet display of the MLS input data for the Property are as follows: MN:LC:ERS-1:499 (8/19) 06/09/2020 7861 Groveland Road Mounds View Ramsey 55112 AUDITOR'S SUBDIVISION #89,N 116 FT 5 761 FT OF LOT 57 Mounds View Economic Development Authority RE/MAX Results Commercial Group June 9th 2020 June 9th 2021 Cash and conventional Negotiable LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL Page 2 38. 39. Property located at . 40. Option 1. Listing display on the Internet. If Seller selects “No,” this listing will not be included in MLS data feeds 41. to Internet web sites that display property listing data, whether intended for advertising the Property or 42. providing online brokerage services (e.g., VOWs). Brokers participating in MLS can still disclose the listing 43. to customers/clients via other means, including e-mail, fax, mail, hand delivery, and orally. 44. Shall the Property listing be displayed on the Internet, including sold information? Yes No 45. Seller understands and acknowledges that if Seller has selected “No” for Option 1, consumers who 46. conduct searches for listings on the Internet will not see information about the Property in response to 47. their searches. 48. If “No” was selected at Option 1, skip Options 2-4. If “Yes” was selected for Option 1, continue to Option 2. 49. Option 2. Listing address (house and unit numbers and street name) display on the Internet. If Seller selects 50. “No,” the address of the Property will be hidden on web sites receiving data feeds from MLS that result in 51. Internet listing display, whether intended for advertising the Property or providing online brokerage services 52. (e.g., VOWs). Brokers participating in MLS can still disclose the address to customers/clients via other 53. means, including e-mail, fax, mail, hand delivery, and orally. 54. Shall the listing address (house and unit numbers and street name) be displayed 55. on the Internet? Yes No 56. Option 3. An automated valuation of the Property listing or a link to an automated valuation of it may be 57. displayed adjacent to the listing. Some VOWs or IDX sites may provide an automated valuation model 58. (“AVM”) function/service. An AVM uses statistical calculations to estimate the value of a property based 59. upon data from public records, MLS, and other sources, and incorporating certain assumptions. The 60. accuracy of AVMs has sometimes been criticized because they do not take into consideration all relevant 61. factors in valuing a property. Seller, by selecting “No,” may prohibit display of an automated valuation of 62. his or her listing adjacent to the listing. 63. Shall an automatic valuation of the Property listing or a link to an automated 64 valuation be displayed adjacent to the listing? Yes No 65. Option 4. Comments or reviews of the Property by persons other than the displaying broker may be displayed 66. with or attached as a link to the listing data of the Property. Some VOWs or IDX sites may provide 67. functionality that permits the customers/clients using the VOW or IDX site to enter comments or reviews 68. with the listing or by hyperlink to such comments or reviews. Note that the broker displaying the listing on 69. his or her VOW or IDX site may add commentary representing his or her professional judgment regarding 70. the listing’s value, etc. 71. Shall comments or reviews of the Property by persons other than the displaying 72. broker be displayed with or attached as a link to the listing data of the Property? Yes No 73. LISTED FOR LEASE: The Property IS IS NOT currently listed for lease. If IS, the listing broker is -----------(Check one.)---------- 74. . If IS NOT, Seller MAY MAY NOT list the Property for lease during the -----------(Check one.)---------- 75. terms of this Contract with another broker. 76. Nothing in this Contract shall prohibit Broker and Seller from entering into a listing agreement for the lease of this 77. Property upon terms acceptable to both parties. MN:LC:ERS-2:499 (8/19) 7861 Groveland Road Mounds View 55112MN 8 8 8 8 8 8 LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL Page 3 78. 79. Property located at . 80. SELLER’S OBLIGATION: Seller shall notify Broker of relevant information important to the sale of the Property. 81. Seller shall cooperate with Broker in selling the Property. Seller shall promptly inform Broker about all inquiries Seller 82. receives about the Property. Seller agrees to provide and pay for any inspections and reports required by any 83. governmental authority. Seller agrees to provide unit owners’ association documents, if required. Seller shall remain 84. responsible for security, maintenance, utilities, and insurance during the term of this Contract, and for safekeeping, 85. securing and/or concealing any valuable personal property. Seller shall surrender any abstract of title and a copy of any 86. owner’s title insurance policy for this Property, if in Seller’s possession or control, to buyer or buyer’s designated title 87. service provider. Seller shall take all actions necessary to convey marketable title by the date of closing as agreed to in 88. a purchase agreement. Seller shall sign all documents necessary to transfer to buyer marketable title to the Property. 89. Seller has the full legal right to sell the Property. 90. Access to the Property: To facilitate the showing and sale of the Property, Seller authorizes Broker to: 91. 1. access the Property; 92. 2. authorize other brokers and their salespersons, inspectors, appraisers, contractors, and other industry 93. professionals to access the Property at reasonable times and upon reasonable notice; and 94. 3. duplicate keys to facilitate convenient and efficient showings of the Property. 95. Authorizing access means giving Broker permission to allow the above-referenced persons to enter the Property, with 96. or without a licensed salesperson present, disclosing to the other person any security codes necessary to enter the 97. Property, and lending a key to the other person to enter the Property, directly or through a lockbox. Seller agrees to 98. commit no act which might tend to obstruct Broker’s performance here. If the Property is occupied by someone other 99. than Seller, Seller shall comply with Minnesota law and any applicable lease provisions of an existing lease and provide 100. tenant with proper notice in advance of any Property showing. Seller understands the prospective buyers and others 101. authorized to access the Property may record the Property by photograph, video, or other medium while accessing 102. the Property. 103. RECORDING ONTHE PROPERTY: Seller understands that MN Statute 626A.02 specifically prohibits the interception 104. of oral communications without the consent of at least one of the two parties to the communication. Seller should seek 105. appropriate legal advice regarding compliance with this statute if Seller intends to utilize technology that may intercept 106. oral communications between persons other than Seller. 107. SELLER CONTENT LICENSE: In the event Seller provides content, including, but not limited to, any photos or videos 108. of the Property (“Seller Content”) to Broker, Seller grants to Broker a nonexclusive, perpetual, world-wide, transferable, 109. royalty free license to sub-license (including through multiple tiers), reproduce, distribute, display, perform, and create 110. derivative works of the Seller Content. Seller represents and warrants that Seller has authority to provide Seller Content 111. and Seller Content does not violate any restrictions regarding use including any third-party intellectual property rights 112. or laws. Seller agrees to execute any further documents that are necessary to effect this license. 113. NOTICE: THE COMPENSATION FOR THE SALE, LEASE, RENTAL, OR MANAGEMENT OF REAL PROPERTY 114. SHALL BE DETERMINED BETWEEN EACH INDIVIDUAL BROKER AND THE BROKER’S CLIENT. 115. BROKER’S COMPENSATION: 116. Seller agrees to pay Broker a retainer fee of $ at the commencement of this 117. Contract, which fee should be kept by Broker whether or not Seller sells the Property. The retainer fee will apply toward 118. satisfaction of any obligation to compensate Broker. 119. Seller shall pay Broker, as Broker’s compensation, $499.00, PLUS percent (%) of the selling price or 120. $ , whichever is greater, if Seller sells or agrees to sell the Property during 121. the term of this Contract. 122. Other: 123. MN:LC:ERS-3:499 (8/19) 7861 Groveland Road Mounds View 55112MN 0.00 0 LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL 124. Page 4 125. Property located at . 126. In addition, if before this Contract expires Broker presents a buyer who is willing and able to buy the Property at the 127. price and terms required in this Contract, but Seller refuses to sell, Seller shall still pay Broker the same compensation. 128. Seller agrees to pay Broker’s compensation whether Broker, Seller, or anyone sells the Property. Seller hereby permits 129. Broker to share part of Broker’s compensation with other real estate brokers, including brokers representing only the 130. buyer. Seller agrees to pay Broker’s compensation in full upon the happening of any of the following events: 131. 1. the closing of the sale; 132. 2. Seller’s refusal to close the sale; or 133. 3. Seller’s refusal to sell at the price and terms specified above. 134. If, within days (not to exceed six (6) months) after the expiration of this Contract, Seller sells or agrees to sell 135. the Property to anyone who: 136. 1. during this Contract made inquiry of Seller about the Property and Seller did not tell Broker about the inquiry; 137. or 138. 2. during this Contract made an affirmative showing of interest in the Property by responding to an advertisement, 139. or by contacting Broker or the licensee involved, or was physically shown the Property by Broker and whose 140. name and address is on a written list Broker gives to Seller within 72 hours after the expiration of this Contract; 141. then Seller shall still pay Broker the compensation noted here, even if Seller sells the Property without Broker’s 142. assistance. Seller understands that Seller does not have to pay Broker’s compensation if Seller signs another valid 143. listing contract or facilitator services agreement for this Property after the expiration or cancellation of this Contract, 144. under which Seller is obligated to compensate another licensed real estate broker. 145. To secure the payment of Broker’s compensation, Seller hereby assigns to Broker the gross proceeds from the sale 146. of the Property in an amount equal to the compensation due to Broker under this Contract. 147. COMPENSATION DISCLOSURE: Broker SHALL SHALL NOT offer compensation to cooperating brokers. ---------------(Check one.)--------------- 148. If SHALL, the compensation to cooperating brokers shall be as follows: 149. % of the gross sales price or $ , whichever is greater, to cooperating 150. brokers representing buyer. 151. % of the gross sales price or $ , whichever is greater, to cooperating 152. brokers assisting buyer. 153. Other: 154. 155. CLOSING SERVICES: 156. NOTICE: THE REAL ESTATE BROKER, LICENSEE REPRESENTING SELLE R, OR REAL ESTATE 157. CLOSING AGENT HAS NOT EXPRESSED AND, UNDER APPLICABLE STATE LAW, MAY NOT EXPRESS 158. OPINIONS REGARDING THE LEGAL EFFECT OF THE CLOSING DOCUMENTS OR OF THE CLOSING 159. ITSELF. 160. After a purchase agreement for the Property is signed, arrangements must be made to close the transaction. Seller 161. understands that no one can require Seller to use a particular person in connection with a real estate closing and that 162. Seller may arrange for a qualified closing agent or Seller’s attorney to conduct the closing. 163. Seller’s choice for closing services: (Check one.) 164. Seller directs Broker to arrange for a qualified closing agent to conduct the closing. 165. Seller shall arrange for a qualified closing agent or Seller’s attorney to conduct the closing. 166. (Seller’s Initials) (Seller’s Initials) MN:LC:ERS-4:499 (8/19) 7861 Groveland Road Mounds View 55112MN 180 8 8 LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL 167. Page 5 168. Property located at . 169. ADDITIONAL COSTS: Seller acknowledges that Seller may be required to pay certain closing costs, which may 170. effectively reduce the proceeds from the sale. 171. Seller understands that mortgage financing services are usually paid for by buyer; however, certain insured government 172. loans may require Seller to pay a portion of the fees for the mortgage loan. Seller understands that Seller shall not be 173. required to pay the financing fees on any mortgage without giving Seller’s written consent. 174. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT (“FIRPTA”): Section 1445 of the Internal Revenue Code 175. provides that a transferee (“Buyer”) of a United States real property interest must be notified in writing and must withhold 176. tax from the transferor (“Seller”) if the transferor (“Seller”) is a foreign person, provided there are no applicable exceptions 177. from FIRPTA withholding. 178. Seller represents and warrants that Seller IS IS NOT a foreign person (i.e., a non-resident alien individual, -----(Check one.)---- 179. foreign corporation, foreign partnership, foreign trust, or foreign estate) for purposes of income taxation. 180. Due to the complexity and potential risks of failing to comply with FIRPTA, Seller should seek appropriate legal and 181. tax advice regarding FIRPTA compliance, as Broker will be unable to confirm whether Seller is a foreign person 182. or whether the withholding requirements of FIRPTA apply. 183. WARRANTY: There are warranty programs available for some properties which warrant the performance of certain 184. components of a property, which warranty programs Seller may wish to investigate prior to the sale of the Property. 185. AGENCY REPRESENTATION: If a buyer represented by Broker wishes to buy the Seller’s Property, a dual 186. agency will be created. This means that Broker will represent both the Seller and the buyer, and owe the same 187. duties to the buyer that Broker owes to the Seller. This conflict of interest will prohibit Broker from advocating exclusively 188. on the Seller’s behalf. Dual agency will limit the level of representation Broker can provide. If a dual agency should arise, 189. the Seller will need to agree that confidential information about price, terms, and motivation will still be kept 190. confidential unless the Seller instructs Broker in writing to disclose specific information about the Seller. All other 191. information will be shared. Broker cannot act as a dual agent unless both the Seller and the buyer agree to it. By 192. agreeing to a possible dual agency, the Seller will be giving up the right to exclusive representation in an in-house 193. transaction. However, if the Seller should decide not to agree to a possible dual agency, and the Seller wants Broker 194. to represent the Seller, the Seller may give up the opportunity to sell the Property to buyers represented by Broker. 195. Seller’s Instructions to Broker: 196. Having read and understood this information about dual agency, Seller now instructs Broker as follows: 197. Seller will agree to a dual agency representation and will consider offers made by buyers represented by 198. Broker. 199. Seller will not agree to a dual agency representation and will not consider offers made by buyers represented 200. by Broker. 201. Real Estate Company Name: 202. Seller: 203. By: (Licensee) Seller: 204. Date: MN:LC:ERS-5:499 (8/19) 7861 Groveland Road Mounds View 55112 RE/MAX Results Commercial Group MN 8 8 Douglas Harris & Mark Hulsey Mounds View Economic Development Authority Mounds View Economic Development Authority LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL 205. Page 6 206. Property located at . 207. OTHER POTENTIAL SELLERS: Seller understands that Broker may list other properties during the term of this 208. Contract. Seller consents to Broker representing or assisting such other potential sellers before, during, and after the 209. expiration of this Contract. 210. PREVIOUS AGENCY RELATIONSHIPS: Broker, or licensee representing Seller, may have had a previous agency 211. relationship with a potential buyer of Seller’s Property. Seller acknowledges that Seller’s Broker, or licensee representing 212. Seller, is legally required to keep information regarding the ultimate price and terms the buyer would accept and the 213. motivation for buying confidential, if known. 214. TERMINATION OF FIDUCIARY DUTIES: Broker’s fiduciary duties, except the duty of confidentiality, terminate upon the 215. successful closing of the Property(ies) specified in this Contract or expiration or cancellation of this Contract, whichever 216. occurs first. 217. INDEMNIFICATION: Broker will rely on the accuracy of the information Seller provides to Broker. Seller agrees 218. to indemnify and hold harmless Broker from and against any and all claims, liability, damage, or loss arising from any 219. misrepresentation, misstatement, omission of fact, or breach of a promise by Seller. Seller agrees to indemnify and hold 220. harmless Broker from any and all claims or liability related to damage or loss to the Property or its contents, or any 221. injury to persons in connection with the marketing of the Property. Indemnification by Seller shall not apply if the damage, 222. loss, or injury is the result of the gross negligence or willful misconduct of the Broker. 223. FAIR HOUSING NOTICE: Seller understands that Seller shall not refuse to sell or discriminate in the terms, conditions, 224. or privileges of sale, to any person due to his/her race, color, creed, religion, national origin, sex, marital status, status 225. with regard to public assistance, handicap (whether physical or mental), sexual orientation, or family status. Seller 226. understands further that local ordinances may include other protected classes. 227. ADDITIONAL NOTICES AND TERMS: As of this date Seller has not received notices from any municipality, 228. government agency, or unit owners’ association about the Property that Seller has not informed Broker about in writing. 229. Seller agrees to promptly inform Broker, in writing, of any notices of such type that Seller receives during the term of 230. this Contract. 231. This shall serve as Seller’s written notice granting Broker permission to obtain mortgage information (e.g., mortgage 232. balance, interest rate, payoff, and/or assumption figures) regarding any existing financing on the Property. A copy of 233. this document shall be as valid as the original. 234. ENTIRE AGREEMENT: This Contract and any addenda or amendments signed by the parties shall constitute the 235. entire agreement between Seller and Broker. Any other written or oral communication between Seller and Broker, 236. including, but not limited to, e-mails, text messages, or other electronic communications are not part of this Contract. 237. This Contract can be modified or canceled only in writing signed by Seller and Broker or by operation of law. All monetary 238. sums are deemed to be United States currency for purposes of this Contract. 239. ELECTRONIC SIGNATURES: The parties agree the electronic signature of any party on any document related to this 240. transaction constitute valid, binding signatures. 241. CONSENT FOR COMMUNICATION: Seller authorizes Broker and its representatives to contact Seller by mail, phone, 242. fax, e-mail, or other means of communication during the term of this Contract and anytime thereafter. MN:LC:ERS-6:499 (8/19) 7861 Groveland Road Mounds View 55112MN LISTING CONTRACT: EXCLUSIVE RIGHT TO SELL 243. Page 7 244. Property located at . 245. OTHER: 246. 247. 248. 249. BROKER SELLER 250. ACCEPTED BY: ACCEPTED BY: (Real Estate Company Name) (Seller’s Signature) 251. By: (Licensee’s Signature) (Seller’s Printed Name) 252. (Licensee’s Printed Name) (Date) 253. (Date) (Address) 254. (Address) (City/State/Zip) 255. (City/State/Zip) (Phone) 256. (Phone) (E-Mail Address) 257. (E-Mail Address) 258. SELLER 259. ACCEPTED BY: (Seller’s Signature) 260. (Seller’s Printed Name) 261. (Date) 262. (Address) 263. (City/State/Zip) 264. (Phone) 265. (E-Mail Address) 266. THIS IS A LEGALLY BINDING CONTRACT BETWEEN SELLER AND BROKER. 267. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. MN:LC:ERS-7:499 (8/19) 7861 Groveland Road Mounds View 55112 RE/MAX Results Commercial Group MN Douglas Harris & Mark Hulsey Mounds View Economic Development Authority Mounds View Economic Development Authority 748 Grand AVE St Paul MN 55105-3306 ADDENDUM TO LISTING CONTRACT This form approved by the Minnesota Association of REALTORS®, which disclaims any liability arising out of use or misuse of this form. © 2019 Minnesota Association of REALTORS®, Edina, MN 1. Date 2. Page of pages 3. Addendum to Listing Contract between parties, dated , pertaining to 4. the Property at 5. . 6. In the event of a conflict between this Addendum and any other provision of the Listing Contract, the language in this 7. Addendum shall govern. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. ACCEPTED BY: BY: (Real Estate Company Name) (Licensee) 29. Date Signed: 30. ACCEPTED BY: ACCEPTED BY: (Seller/Owner) (Seller/Owner) 31. (Date) (Date) 32. THIS IS A LEGALLY BINDING CONTRACT BETWEEN SELLER/OWNER AND BROKER. 33. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. MN-AERSLC (8/19) June 9th, 2020 June 9th 2020 7861 Groveland Road Mounds View MN 55112 RE/MAX Results Commercial Group has listed 2840 Mounds View Boulevard and 2832 Mounds View Boulevard, Mounds View with PID#'s 06-30-23-34-0089; 06-30-23-34-0086 & 06-30-23-34-0062. It is understood that RE/Max Results Commercial Group has the exclusive right to sell either property separately. RE/MAX Results Commercial Group understands that the City of Mounds View Economic Development Authority (EDA) has full ownership rights of PID# 063023340061 and will only be willing to sell PID# 063023340061 if the neighboring sites (PID#'s 06-30-23-34-0089; 06-30-23-34-0086 & 06-30-23-34-0062 are to sell to an EDA approved developer. RE/MAX Results Commercial Group Copyright 2020 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Rev. 2/20 NorthstarMLS LOTS & LAND LISTING INPUT FORM Disclosures By signing the authorization section below, the Seller acknowledges the following disclosures: 1. The Seller’s real estate broker (the Broker) is a participant in the Regional Multiple Listing Service of Minnesota, Inc. (RMLS). 2. The Seller has authorized the Broker to give the information on this form about the Seller’s property to RMLS. 3. All data submitted to RMLS becomes the sole property of RMLS. 4. RMLS assumes no responsibility or liability to the Seller for errors or omissions on this form or in the RMLS computer system. 5. The Broker is required to promptly provide information to RMLS about any change in status or price of the Seller’s listing. 6. If the Seller’s property is sold, the Broker must report to RMLS the price and terms of the sale. 7. Neither the Seller nor any prospective buyer of the property can alter the Broker’s responsibility to report all such data to RMLS by agreement among them. 8. RMLS shall retain and make available all such data and photographs to all its participants (real estate brokers, appraisers, and affiliated professionals) for an indefinite period. 9. Under no circumstances will RMLS permit data about the Seller’s listing to be deleted from RMLS’s systems in order to conceal any information, including information that the property was listed for a period of time by another broker or brokers. 10. The Broker’s use of RMLS’s systems is subject to the duties imposed on the Broker by the rules and regulations of RMLS and by the Code of Ethics of the National Association of REALTORS®. 11. At the request of the Broker, unless the field called Display Listing on Internet is marked “NO”, RMLS will electronically transmit information about the Seller’s property to Internet web sites to aid in marketing the property for sale. 12. At the request of the Broker, unless the field called Display Address on Internet is marked “NO”, RMLS will include the address of the Seller’s property in transmissions of data to web sites. Authorization: I have read and understood the disclosures above. I certify that the information contained on this form is accurate to the best of my knowledge. 100 The Listing Contract Starts 101 and ends at 11:59 P.M. on 102 Owner (Signature) 103 Owner (type or print) 104 Owner (Signature) 105 Owner (type or print) 106 Real Estate Company 107 By (Agent Signature) 06/09/2020 06/09/2021 Mounds View Economic Development Authority Mounds View Economic Development Authority RE/MAX Results Commercial Group