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07/11/2000 16:20 2225341 VK ARRIGONI PAS <br /> 12 <br /> COMMERCIAL-INDUSTRIAL PURCUASE AGREEMENT <br /> • pam; Mgy 30 2000 <br /> RECY✓NED OF Frontline Church and Outreach Ce ter the sum of onethousand 654 Kenzie Terra e <br /> DOLLARS as earnest money and in part payment for the'. purchase of property <br /> situated in the County of Hennepin, State of Minnesota, ad legally described as follows: 1&t-002 Block <br /> 002 St. Anthony.VillaPrP CMRI GTR Addn No. 1 Pro ID: 0702923240020 and 0702923240021 <br /> together with the following personal property: NIA all of which property the.undersigned has this day <br /> sold to the Buyer for the sum of: Six hundred and twent -five thousand dollars ($625.000.M DOLLARS, <br /> which the Buyer agrees to pay in the following manner: Barnest money herein paid as 11,000.00 upon lease <br /> signature and V,000.000 ,upon removal of contingency#3 (See Addendum#1) as <br /> additibnal earnest money and J57.000.00, cash on ur bcfoie Scvtembcr 1, <br /> 2001, the date of closing and the <br /> balance of$5583000.00 by financing as shown on the attached addendum. <br /> 1. DEEDINURKETABLE 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 estate taxes due 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. P 1 w SSESSNIENTS. r . efte.] ur <br /> THE P AWE 9SIN6ISELbER �bL PAY en-the date-a€610sir+g fig-iestdiffieFfts ,.f Weal <br /> assessfnsets-�ed for pttyineat with#te real estme taxes due-and payubje in awyeef ef elesing. <br /> r <br /> special assessme <br /> Seller-shall pay eft date of 0094fig any defefFed-real-estme A <br /> i.srequiredar, of dais GAb- <br /> • 4. PROBATIONS. 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 d <br />