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07/11/2000 16:20 2225341 VK ARRIGONI PL <br /> 5 <br /> COMMERCIAL-INDUSTRIAL PURCDASE AGREEMENT <br /> • Date: mAY 30 2000 <br /> RECEIVED OF Frontline Church and Outreach Center the sum of one thousand 654 Kenzie•Terrace <br /> DOLLARS as earnest money and.in part payment for the purchase of property <br /> situated in the County of Hennepin; State of Minnesota, and legally described as follows: Lot 002 Block <br /> 002 St. Anthon Villa P C Adds No. 1 Pro wD• Oe923pundersigned93400ay <br /> together with the following personal property: NIA all of property <br /> rtY <br /> sold to the Buyer for the sum of. Six hundred and twenty-five thousand dollars ($625.000.00)DOLLARS, <br /> which the Buyer agrees to pay in the following manner: earnest money herein paid as 1$ ,900.00 upon lease <br /> signature and 9� ,000.040 ,upon removal of contingency#3 (See Addendum#1) as <br /> mber IL <br /> additibnal earnest money and $57,000.00, cash on vx bcfoie S-121to __ ..001, the date of closing and the <br /> balance of$558,000.00 by financing as shown on the attached <br /> 1. DEEDlMARKETABLE TITLE: Subject to performance by the Buyer, the Seller agrees to execute <br /> and deliver a general/marketahle Warranty Deed conveying marketable title to said premises subject <br /> only to the following exceptions: (a) Building and zoning laws, ordinances, State and Federal <br /> regulations. (b) Restrictions relating to use or improvement of the premises without effective forfeiture <br /> provision. (c) Reservation of any minerals or mineral rights to the State of Minnesota. (d) Utility and <br /> drainage easements which do not interfere with present improvements. (e) Rights of tenants as follows: <br /> "See Attached Addendum <br /> • 2. REAL ESTATE TAXES. Real cstatc taxes duc and payable in the year,of closing shall be prorated <br /> between Seller and Buyer on a calendar year basis to the actual date of closing unless otherwise provided <br /> in this Agreement. Real estate taxes payable in the years prior to closing shall be paid by Seller. Real <br /> estate taxes payable in the years subsequent to closing shall be paid by Buyer. <br /> 3. SP C7 A L -1-ce R!/��LC�N TTIC�.�(�F�s 'L rtes'R�f�vTl�°rIGT*D SELLER SE6kLL -AS OF�1 . <br /> THE DANE GLOSIENs:ftD'E LE.M1e'�77�A LL PAY- Of' Lhs-dat�-Ar-6109iRg 11 ..71 ••�---:•��,i. <br /> [S 7k,@ eo -one.] BUV A I I— PROR s rE SELLE S 7 1 PAY Y /olrNrPRO A TL'T x2 A C IS ON <br /> special assessme <br /> by the Gty�eil or-other-govemmeRW assessing –au-Nuesilie <br /> 1/2 w. — assessments <br /> Of th <br /> ic <br /> • 4. PRORATIONS. All items customarily prorated and adjusted in connection with the closing of the sale <br /> of the property herein including but not limited to rents, operating expenses, interest on any debt <br />