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1 <br /> The following is Draft 4 from DENNIS Properties dated November 23, 2020. <br />It is a comparison to the City’s November 12 Draft <br />Also, formatting was improved and made consistent <br />With Comments on December 2, 2020 from City of Hugo <br />─────────────────────────────────────────────────────── <br />Return To: <br />David K. Snyder, Esq. <br />JOHNSON / TURNER LEGAL <br />56 East Broadway Avenue, Suite 206 <br />Forest Lake, MN 55025 <br />DRAFT NO. 4 <br />CITY OF HUGO <br />WASHINGTON COUNTY, MINNESOTA <br />PURCHASE AGREEMENT <br />THIS PURCHASE AGREEMENT ("Agreement" or “Purchase Agreement”) is made <br />effective this ___________, 2020, (“Effective Date”) by and between The City of Hugo, a <br />Minnesota Municipal Corporation (the "City" or “The City” or “Seller”), and DENNIS Properties, <br />LLC,, a Minnesota Limited Liability Company ("Buyer"). <br />Recitals <br />WHEREAS, Seller is the owner of Real Property located in the County of Washington, <br />State of Minnesota and legally described on Exhibit A attached hereto (the “Real Property” or “the <br />Property”). The Seller has assembled this Real Property over many years with the desire and <br />intention that it be later offered for sale to a developer that will develop it carefully and in <br />K.1