Laserfiche WebLink
1226g <br /> PURCHASE AGREEMENT <br /> This Agreement is made and entered into as of <br /> , 1988 by and between OSBORNE PROPERTIES, a <br /> Minnesota limited partnership ("Owner") , and the HOUSING AND <br /> REDEVELOPMENT AUTHORITY OF ST. ANTHONY, MINNESOTA, a body <br /> corporate and politic under the laws of the State of Minnesota <br /> ("HRA") . <br /> A. Owner is the owner of certain real property in the <br /> County of Hennepin and State of Minnesota, legally described in <br /> Exhibit A attached hereto and made a part hereof, together with <br /> all improvements, hereditaments and appurtenances thereunto <br /> belonging or in any way appertaining ("Property") . <br /> B. The HRA desires to purchase the Property and Owner <br /> is willing to sell the Property to the HRA on the terms and <br /> conditions hereinafter contained. <br /> In consideration of the foregoing, and in further <br /> consideration of the mutual covenants herein contained, it is <br /> hereby agreed as follows : <br /> • 1. Sale. Owner hereby agrees to sell the Property to <br /> the HRA, and the HRA agrees to purchase the Property from <br /> Owner, for the price and subject to the terms and conditions of <br /> this Agreement . <br /> 2 . Purchase Price. The purchase price to be paid by <br /> the HRA to Owner for the Property shall be Sixty Thousand and <br /> No/100 Dollars ($60,000.00) which amount shall be paid in cash <br /> on the Date of Closing. <br /> 3 . Marketability of Title. Owner shall, within 20 <br /> days following the date hereof, cause to be delivered to the <br /> HRA such Abstracts of Title or Registered Property Abstracts <br /> covering title to the Property as Owner may have in its <br /> possession, but Owner shall have no obligation to extend or <br /> bring current any such abstracts, nor shall Owner be required <br /> to deliver any abstracts which also happen to cover any part of <br /> Owner ' s Remaining Real Estate (as defined below) . The HRA has <br /> obtained a Commitment for an ALTA Form B 1970 Owner ' s Policy of <br /> Title Insurance with respect to the Property ("Commitment") , <br /> issued by a title insurance company authorized to do business <br /> in the State of Minnesota as selected by the HRA ("Title") . <br /> The Commitment shall at the time of closing show fee title in <br />