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12/09/2004 13:59 612+305+1414 4 2#262 N0.615 P002
<br /> VACANT LAND PURCHASE AGR EENTNT
<br /> Date Se tember 8 2004
<br /> Page 1 of 5
<br /> RECEIVED OF John B. Dennison the sum of Five Hundred and No/100 Dollars ($500.00) by
<br /> check, as earnest money to be deposited upon acceptance of this Purchase Agreement by all
<br /> parties, on or before the next business day after acceptance, in a trust account of Buyer's
<br /> attorneys, but to be returned to Buyer if this Purchase Agreement is not accepted on or before
<br /> September 10, 2004, by Arvid Birkeland and Arlene Birkeland,husband and wife, Seller. Said
<br /> earnest money is part payment for the purchase of certain property located at 2825 Silver Lane
<br /> N.E., City of St. Anthony, County of Ramsey, State of Minnesota, as more fully described
<br /> below, including the following property, if any, owned by Seller and located on said property:
<br /> all garden bulbs,plants, shrubs and trees, all of which property Seller has this day agreed to sell
<br /> to Buyer for the sum of Thirty Five Thousand and No/100ths Dollars ($35,000.00), subject to
<br /> adjustment as provided below based on the shoreline frontage on Silver Lake, which Buyer
<br /> agrees to pay as follows: $500.00 as earnest money, and $34,500.00 in cash on or before
<br /> November 30, 2004, the date of closing.
<br /> SPECIAL CONTINGENCY: This Purchase Agreement is subject to the following subdivision
<br /> contingency, and if the contingency cannot be satisfied by Buyer on or before November 15,
<br /> 2004, this Purchase Agreement shall become null and void, all earnest money shall be refunded
<br /> to the Buyer, and Buyer and Seller shall sign a Cancellation of this Purchase Agreement.
<br /> This Purchase Agreement is subject to Buyer obtaining, at Buyer's sole cost and expense
<br /> (including all surveyor and platting costs, park dedication fees,if any, and any other costs or fees
<br /> imposed by the City of St. Anthony in connection therewith), all necessary approvals of the City
<br /> of St. Anthony, Minnesota, and any other governmental subdivision having jurisdiction, for the
<br /> subdivision of Seller's larger parcel (Lot 1, Block 1, Birkeland Second Addition) such that the
<br /> property which now is a part of Seller's larger parcel shall become owned by the owner of, and
<br /> combined for conveyancing and real estate taxation purposes with, Buyer's existing parcel (Lot
<br /> 2, Block 1, Birkeland Second Addition). Seller understands and agrees that such approval may
<br /> require that Seller's larger parcel and Buyer's existing parcel be replatted. Seller and Buyer
<br /> acknowledge and agree that the exact description of the property has not yet been determined,
<br /> but agree that the property: (a) shall be adjacent to Buyer's existing parcel; (b) shall have as its
<br /> northeasterly line a line parallel to the northeasterly line of Buyer's existing parcel (unless
<br /> otherwise agreed by Buyer); (c) shall include twenty (20) feet (or such lesser amount as shall
<br /> cause Seller's larger parcel to retain one hundred (100) feet of shoreline on Silver Lake) of
<br /> shoreline on Silver Lake; and (d) shall have a purchase price equal to the product of$1,750.00
<br /> multiplied by the number of feet of shoreline on Silver Lake actually conveyed. In no event shall
<br /> Buyer be obligated to purchase the property if the property has fewer than ten (10) feet of
<br /> shoreline. Seller shall cooperate with Buyer's efforts to obtain such subdivision approval, but
<br /> Seller shall not be obliged to expend any funds in connection therewith. Included in such
<br /> division approval shall be the vacation of any easements now located on the property and along
<br /> the lime between Buyer's existing parcel and the property, provided that Buyer shall be obliged,
<br /> if required by the City of St. Anthony, to dedicate new easements along the exterior boundaries
<br /> of the property except for the boundary between the property and Buyer's existing parcel. Seller
<br /> shall be responsible for obtaining a release of the-property being purchased from any mortgages
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