4.11. SR 10-08-2001 - Laserfiche WebLink

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GERALD M. RANDALL WILLIAM K. GOODRICH DOUGLAS J. DEHN+ THOMAS M. FITZPATRICK RANDALL, DEHN & GOODRICH ATTORNEYS AT LAW 2140 FOURTH AVENUE NORTH ANO KA, MINNESOTA 55303-2268 TELEPHONE (763) 421-5424 FACSIMILE {763) 421-4213 REAL PROPERTY LAW SPECIALIST CERTIFIED BY MINNESOTA STATE BAR ASSOCIATION dehnd~rdglaw.com August 13, 2001 Charles D. Wilson Gray, Plant, Mooty, Mooty & Bennett, P.A. 3400 City Center 33 South Sixth Street Minneapolis, MN 55402-3796 Re: City of Elk River/Gloria C. Bailey Trust Transaction Dear Mr. Wilson: I have now reviewed your proposed purchase agreement between the City of Elk River and John Dietz and Gloria Bailey, Trustees of the Gloria C. Bailey Revocable Living Trust. They have agreed to enter into the purchase agreement that the City has proposed. I have also reviewed the intended closing documents, including the proposed Trustee's Deed, Certificate of Trust and Affidavit of Trustees. Although the Certificate of Trust needs some information for completion, the documents will be adequate for use at closing. It is my understanding that the City must approve any final version that we negotiate. Does this include the passage of an ordinance authorizing the purchase of the property? Regardless of the specific steps that must be followed, you are now authorized to proceed with those steps and arrange for a binding purchase agreement. Will you arrange for the signing of the purchase agreement by the City and the delivery of the earnest money? Should we place the earnest money into our trust account? Should you have further questions or comments, please contact me. Very truly yours, Douglas J. Dehn DJD/rk CCi John Dietz and Gloria Bailey