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i <br /> July 14, 1994 <br /> Dorsey & Whitney <br /> Mr. William Soth <br /> 2200 First Bank Place East <br /> Minneapolis, MN 55402 <br /> • Dear Mr. Soth: <br /> Please find enclosed a letter from Larry Beach offering $32,000 cash for a lot located at <br /> Coolidge and 27th Avenue NE. He would also like to purchase the remaining lot on a contract <br /> for deed for $32,000. <br /> The City Councils direction is to sell Mr. Beach one lot for $32,000 cash and not hold the other <br /> for him on a contract for deed. <br /> Please develop a Purchase Agreement and Development Agreement for the sale of one lot and <br /> have this information available for the July 26, 1994, HRA Meeting. <br /> Some of the conditions of a Purchase Agreement and Developers Agreement�are: <br /> 1) Construction of a 3-bedroom home, valued at $125,000 including property. <br /> 2) The house to be built according to all City and Zoning Ordinances with inspection <br /> and approval of the City. <br /> 3) Any other items you deem necessary as part of a typical agreement. <br /> • <br />