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07/11/2000 16:20 2225341 VK ARRIGONI P 15 C0M1»RCLkL- DUSTRIAL PURCHASE AGREFZVMNT 2654 Kenzie Terrace • Pagel of 5 ADDENDUM TO PUKCTHASE AGREEMENT 41 Dated: .May 30,2000 property Addrebb: 2654 Kenzie Terrace Property ID: 0702923240020 and 07 240021 OFFER SUBJECT TO: 1. Obtaining successful bank tinancinga r-c e?�Alt ° t¢,.�•.l« 2. Building appraises for purchase price. 3. Obtaining special use permit for buyer's use; church and storage on bottom floor, as lease space. 4. Inspection by qualified professional on roof,foundation, mechanicals, electrical and plumbing. Seller will bring into satisfactory working condition if any repaim are needed to comply with all local codes and ordinances. 5. Subject to Buyer's and Seller's attorney's approval of purchase agreement within 10 days after Buyer's and Seller's signatures of Purchase Agreement. 6. Buyer's review and acceptance of a well.disclosure statement. t 7. Upon removal of Contingency#3 (obtaining a special use permit from the city of SL. Auttiony for said use)Buyer will deposit ail additional$9,000.00 earnest money in a Kraus-Anderson trust account within 10 business days of completion. Said trust account shall be an interest bearing account. 8. Upon signatures of Buyers and Sellers of this Purchase Agreement dated May 30, 2000, shall void Purchase Agreement between same Buyer and Seller dated April 7,2000, A.Y+ril 1 R, 2000, and May 4, 2000, and earnest money of Purchase Agreement dated April 7,2000 shall be applied to purchase agreement dated May 30, 2000. 9. Property shall remain on the market for sale until all contingencies have been removed. However, any or all subsequent offers or purchase agreements shall be subject to cancellation of this agreement agreed up on by the buyer. 10. Seller shall grant buyer the first right of first refusal on the sale of the second mortgage on the same terms as acceptable to other purchaser. 11. Buyer will indemnify Seller for any costs/assessments to Seller related to the application to the City for a special use permit. 4Q�(�'s- 12. First Right of Refusal: ForM&ys after the date of this agreement,Seller_will not enter into another purchase agreement that activates Buyer's fiat right of refusal before September 1, 2000. Thereafter, upon written notification to buyer that seller has received another acceptable offer,buyer shall remove all contingencies(within 5 business days) and proceed to closing within 60 days or this purchase agreement shall become null and void and all earnest money shall be returned to buyer with any accumulated interest. The above closing date of 60 days after notification is contingent upon buyer being released from its present lease at the Hamline Shopping Center, otherwise clusing date shall occur September 1,2001. Seller shall pay all special assessments levied and including or payable prior to September 1, 2000. Buyer shall Y&ly all special assessments levied or pending after September 1, • 2000 as ordered by the City Council or other governmental assessing authorities. Buyer and Seller shall prorate as of date of closing,real estate taxes due and rayshle in the year of closing.