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COMMERCIAL PURCHASE LETTER OF INTENT <br />Saint Anthony Village <br />3301 Silver Lake Road <br />St. Anthony, MN 55418 <br />Effective Date: 6/19/2023 <br />David Hernandez <br />6012 Oakland Ave <br />Minneapolis, MN 55417 <br />RE: Intent to Purchase Commercial Property <br />This commercial purchase letter of intent (the “Letter of Intent”) represents the basic terms for <br />an agreement between the Buyer and Seller. After this Letter of Intent has been made, a formal <br />agreement may be constructed to the benefit of the Parties involved. <br />I. The Buyer: David Hernandez (the “Buyer”). <br />II. The Seller: Saint Anthony Village (the “Seller”). <br />III. Property Address: 3803 Stinson Blvd NE St. Anthony, MN (the “Property”). <br />Additional Description: PID# 31-30-23-33-0003 Legally Described as: APACHE PLAZA LOT 6 <br />BLK 1. <br />IV. Purchase Price: The Buyer shall purchase the Property for Three Hundred Thousand <br />Dollars ($300,000) (the “Purchase Price”). <br />V. Purchase Terms: Payment of the Purchase Price shall be made in the following manner: <br />Bank Financing (See attached pre-approval letter). <br />VI. Bank Financing: The Buyer has made it known that their ability to purchase the Property is <br />☒ conditional ☐ not conditional on their ability to obtain financing. <br />If the purchase is conditional on financing, it shall be under the following terms: In the event the <br />Buyer is not able to obtain financing, the Buyer will not be bound by this Letter of Intent <br />and any monies paid to Seller by Buyer will be refunded to the Buyer. <br />VII. Closing: The Closing shall occur on TBD, or earlier by mutual agreement (the “Closing”). <br />Any extension to the Closing must be agreed upon in writing by the Buyer and Seller. <br />VIII. Closing Costs: All costs associated with the Closing shall be the responsibility of <br />☐ the Buyer ☐ the Seller ☒ both Parties bearing their own expenses. <br />IX. Possession: Possession of the Property shall be given on TBD, or earlier by mutual <br />agreement (the “Possession”). Any extension to the Possession must be agreed upon in writing <br />by the Buyer and Seller. <br />Page 1 of 2 <br />Authentisign ID: 5BFB17AD-C50E-EE11-907B-6045BDED1B5F