HomeMy WebLinkAbout20-EDA-336EDA 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 terminate 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.
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.
MU205\13\658001 A
Adopted on the 22nd day of June, 2020.
Carol A. Mueller
President
Attest:
Nyl ikm d
E ecutive Director
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
A-1
MU205\13\658001 A
EXHIBIT B
LISTING CONTRACT
B-1
MU205\13\658001.v3
R E/MAX AGENCY RELATIONSHIPS IN
RESULTS REAL ESTATE TRANSACTIONS
1. Pagel
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.0)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) Carol A. Mueller (Date) (Signatur N e Zikk.d (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)
Instaneti:or.r,,,:;
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 OFTHE 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. (') 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)
Instanetr:, >itNms
3
C!
RE/MAX
RESULTS
DEFINITIONS: This Contract involves the propertylocated
City of_
LISTING CONTRACT:
EXCLUSIVE RIGHT TO SELL
1. Date 06/09/2020
2. Pagel of pages
7861 Groveland Road
Mounds View
5. County of Ramsey , State of Minnesota, Zip Code 55112 ,
6. legally described aSAUDITOR'S SUBDIVISION #89,N 116 FT 5 761 FT OF LOT 57 ("Property").
7. Selleris Mounds View Economic Development Authority ("Seller").
8. Brokeris RE/MAX Results Commercial Group ("Broker").
(Real Estate Company Name)
9. This Contract starts on June 9th 2020 and ends at 11:59 p.m. on
10. June 9th 2021 .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 $ Negotiable upon the following
14. terms: Cash and conventional
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 andterms
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 DATAFEED 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)
InstanetFORMS
LISTING CONTRACT:
EXCLUSIVE RIGHT TO SELL
38. Page 2
39. Property located at 7861 Groveland Road Mounds view MN 55112
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? 0 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? ❑_C 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 otherthan the displaying broker maybe 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 0 No
73. LISTED FOR LEASE: The Property ❑ IS ❑K 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
-----------(Checkone.)----------
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.
MNIC:ERS-2:499 (8/19)
InstanetPr.,I:A�s
LISTING CONTRACT:
EXCLUSIVE RIGHT TO SELL
78. Page 3
79. Property located at 7861 Groveland Road Mounds View MN 55112
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 complywith 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 $ 0.00 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, $499-99, PLUS o 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)
InstanetFORMS
LISTING CONTRACT:
EXCLUSIVE RIGHT TO SELL
124. Page 4
125. Property located at 7861 Groveland Road Mounds View MN 55112
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 180 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❑ SHALLFK-] 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 SELLER, OR REAL ESTATE
157. CLOSING AGENT HAS NOT EXPRESSED AND, UNDER APPLICABLE STATE LAW, MAY NOT EXPRESS
158. OPINIONS REGARDING THE LEGAL EFFECT OFTHE 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. ❑K Seller directs Broker to arrange for a qualified closing agent to conduct the closing
165. ❑ Seller shall arrange ffo�r�a qualified closing agent or Seller's attorney to conduct the closing.
166. ���--
(Sel r' tials) (Seller's Initials)
MN:LC:ERS WA99 (8/19)
Instaneti uiox,;
LISTING CONTRACT:
EXCLUSIVE RIGHT TO SELL
167. Page 5
168. Property located at 7861 Groveland Road Mounds View MN 55112
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 mustwithhold
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 0 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 buyerthat 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. 0 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: RE/Max Results Commercial Grtoup
202. Seller
Moun , 'V�ew -Ti, Development Authority
203. By: Seller:
(Licensee) Douglas Harris & Mark Hulsey vada view 3111-il Development Authority
204. Date:
MNIC:ERS-5:499 (8/19)
InstanetFORMS
LISTING CONTRACT:
EXCLUSIVE RIGHT TO SELL
205. Page 6
206. Property located at 7861 Groveland Road Mounds View MN 55112
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 Iaw.AII 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)
(nstanetro:nns
LISTING CONTRACT:
EXCLUSIVE RIGHT TO SELL
243. Page 7
244. Property located at 7861 Groveland Road Mounds View MN 55112
245. OTHER
246.
247.
248.
249.
BROKER
SELLER
250.
ACCEPTED BY: RE/MAX Results commercial Group
ACCEPTED BY:
(Real Estate Company Name)
( ler's nature)
251.
By:
Mc d, View Ell—il D,V,lop—It Authority
(Licensee's Signature)
(Seller's Printed Name)
252.Douglas
Harris & Mark Hulsey
15 /,4__7- /,.2 0 2
(Licensee's Printed Name)
(Date)
253.
-;� 4'-0 /
(Date)
(Address)
254.
748 Grand AVE
�''(OL�jGL+ �( ��"%
�`�/�✓
(Address)
(City/State/Zip)
255.
St Paul MN 55105-3306
--7 Ze '� �� 7 —
(City/State/Zip)
(Phone)
256.
�v/�Q _2 f
(Phone)
(E -M it Address ,
257.
J
(E -Mail Address)
258. SELLER
259. ACCEPTED BY: U`
(Seller's Signature)'
26
0. Mound, View Economic Development Authority / ( yqt,(,,t //.Q y
(Seller's Printed Name)
261.
(Date)
262. a /�o / 1'�'%LL✓�c�S 44 «j
(Address)
Add /
263. ! "l 4 [ (,,16 Y�� ✓U /��
(City/State/Zip)
264. '7 ly 3 -- % / Z�
(Phone)
265. L, a C 0 Ile C—/
(E -Mail Address)y
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) Instanetl4Rr,tS
RE/MAX
RESULTS
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
26.
27.
Addendum to Listing Contract between parties, dated
the Property at 7861 Groveland Road
Mounds View
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.
C 2019 Minnesota Association of REALTORS®, Edina, MN
1. Date June 9th, 2020
2. Page of pages
June 9th 2020 , pertaining to
MN 55112
In the event of a conflict between this Addendum and any other provision of the Listing Contract, the language in this
Addendum shall govern.
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.
28. ACCEPTED BY: RE/MAX Results Commercial Group BY:
(Real Estate Company Name)
29. Date Signed:
30
31
ACCEPTED BY:1��LL.C��
(Seller/Owner)
(Date)
(Licensee)
ACCEPTED BY: 21JI
elle wner)
tvl� l�
(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) 19 MinnesotaRealtors®
InstanetFORMS
,J44ukip
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.
1 certifv that the information contained on this form is accurate to the best of my knowledge
4W
The Listing Contract Starts
40and ends at 11:59 P.M. on
06/09/2020
06/09/2021
Ill
Owner (Si nat re
®i Owner (type or print)
Mounds View Economic Development Authority
Ow r( natu
Owner (type or print)
Mounds View Economic Development Authority
4W
Real Estate Comparty
4W By (Agent Signature)
RE/MAX Results Commercial Group
Copyright 2020 Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. InstanetFnRMS Rev. 2120