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Form 1519A 1&2 (Rev. 9~97)
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<br />3. RECEIVED OF
<br />4.
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<br />The City of Elk River a municipal corporation,
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<br /> PURCHASE AGREEMENT
<br /> This form approved by the Minnesota Association of
<br /> REALTORS®, which disclaims any liability
<br /> arising out of use or misuse of this form.
<br />1. Date August ,2001
<br />2. Page 1 of Pages
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<br />5. the sum of One Thousand and 00/100 Dollars ($1,000.00)
<br />6. by CHECK as earnest money to be deposited upon acceptance of Purchase Agreement by all parties, on or before the
<br />7. third business day after acceptance, in a trust account of listing broker but to be returned to Buyer if Purchase Agreement is not accepted
<br />8. by Seller. Said earnest money is part payment for the purchase of the property located at:
<br />9. Street Address: 1217 5th Street
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<br />10.
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<br />11.
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<br />12.
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<br />City of Elk River , County of
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<br />Legally described as: Lot 101 Block 21 Thomas Addition (actual le.qal to govern)
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<br />Sherburne State of Minnesota,
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<br />13. including the following property, if any, owned by Seller and used and located on said property: garden bulbs,plants, shrubs and trees; storm
<br />14. sash, storm doors, screens and awnings; window shades, blinds, traverse and curtain and drapery rods; attached lighting fixtures and bulbs;
<br />15. plumbing fixtures, water heater, heating plants (with any burners, tanks, stokers and other equipment used in connection therewith),
<br />16. built-in air conditioning equipment, electronic air filter, Water Softener/OWNED / RENTED / NONE, built-in humidifier and dehumidifier,
<br /> ............. (strike out two) .................
<br />17. liquid gas tank and controls (if the property of Seller), sump pump; attached television antenna, cable TV jacks and wiring; BUILT-INS:
<br />18. dishwashers, garbage disposals, trash compactors, ovens, cook top stoves, microwave ovens, hood fans, intercom's; ATTACHED: carpeting;
<br />19. mirrors; garage door openers and all controls; smoke detectors; fireplace screens, doors and heatilators; AND: the following personal
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<br />20. property: washer, dryer, stove, refrigerator
<br />21.
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<br />22.
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<br />23. all of which property Seller has this day agreed to sell to Buyer for sum of: ($144,000.00)
<br /> One Hundred Forty-Four Thousand and 00/100
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<br />Dollars,
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<br /> which Buyer agrees to pay in the following manner: Earnest money of $1,000.00
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<br />26 and $143,000.00 cash on Auflust 2001 the date of closing, and
<br />27~. ~he~a!ance of by financing in accordaReew,AthAh6~attached addec~upm.'
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<br />2-~strike~uttheseAhat-de-net-apply)-Conventiena! FHA VA Assumption Centract for-Deed Purchase .Mcney-MertHaH~thcr:
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<br />29. This Purchase Agreement IS / IS NOT subject to a Contingency Addendum for sale of Buyer's property. (If answer is IS, see attached addendum.)
<br /> -- (strike out one) --
<br />30. This Purchase Agreement I$ / IS NOT subject to cancellation of a previously written Purchase Agreement dated
<br /> -- (slrike out one) --
<br />31. Buyer has been made aware of the availability of property inspections. Buyer elecAs / declines to have a property inspection performed at
<br /> ...... (strike out one) ......
<br />32. Buyer's expense.
<br />33. This Purchase Agreement IS / IS NOT subject to an Inspection Addendum. (If answer is IS, see attached addendum.)
<br /> -- (strike out one) --
<br />34. Attached are other addenda which are made a party of this Purchase Agreement. (Enter page or pages on line 2)
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<br />35. DEED/MARKETABLE TITLE: Upon performance by Buyer, Seller shall deliver a General Warranty Deed
<br />36. joined in by spouse, if any, conveying marketable title, subject to: a life estate for the life of Gloria C. Bailey for use as a residence and option; and
<br />37. (A) Building and zoning laws, ordinances, state and federal regulations; (B) Restrictions relating to use or improvement of the property without
<br />38. effective forfeiture provisions; (C) Reservation of any mineral rights by the State of Minnesota; (D) Utility and drainage easements which do
<br />39. not interfere with existing improvements; (E) Rights of tenants as follows (unless specified, not subject to tenancies): No tenants
<br />40.
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<br />41. (F) Others (Must be specified in writing): see addendum regard nq life estate and option
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<br />42. SPECIAL ASSESSMENTS shall be paid as follows: Seller shall pay all special assessments levied through termination/sale of life estate, Buyer to pay
<br /> all others.
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<br />.~. BUMER~,AND SELLEt;~SHALL PRORATE AS OF THE ..... OFq;L-OSIN .... L~E.. _.HA__. AY~aNDATEqaF .... !NG ~,, instaltmeRts of spccial
<br /> (slrqke~ut one)
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<br /> .... ' ~,~ f ..... ~,h '~' ~°~'~ ' .... ~ ..... ~ p~y~ble i~e year cf closing.
<br />=4~as~ ....... ~ ...... payment ...... the .......................
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<br />45. B~E~HAL~ASSUME / SELLE~HAL~-~te of c!~ing 3!! other special 2sc~ments !cried as of the dat~g~eme~
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<br /> = ~ ~ i ~ a ~ SHALL c Da =*~T · ~ .........
<br />46. -~ .... HA.. ~S~M_ / SELLER PROVIDE, OR...~ .... OF specie1 cs~ssments pending cs ~¢ m~ a~ o~is Asrccmc~
<br /> (ctr~o)
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<br />47. improveme~hat have k ..... a~.~a ky m~ ~%, ¢ ..... a ~ .... ~ ..... tko.' '~ - ..............
<br /> ............................ ~ ...... ~,,,u ....... ~l~-. (Se!~ provision f~ p~y~ fka" k~ by paymeRt
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<br /> .............................................. ~ ........... , ......... ~F~R~Cr.x
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<br />4~BUYE~HALL-ASSUME / S~L~LL~AY .................... ~ a~ ~¢ ~g any deferred ret! esta~i.e. ~ ........ ~ ......... ~¢ ~ o~ial
<br /> (strd~c cut ~e)
<br />~ ........... ~¢,,,~. of which is rcqui~-~s 2 ..... ' cf thc closing cf this -~ B~al! pcy rcc~st~axes du~R~aM~he yea~
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<br />51. fcll~n¢~i~g ~ ,k .... ¢, .... a a~paid ¢p~¢~ ......... ~ p~k~ m .... ~tk ~ m~aft~ th~ayment cf v~ is -~ cth~ise
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<br />52. provided. A~Ae ~*~ ~ ~h~ agreement, SeI~Rts *h~ c a~ ~ UA~nT "~*;~ ~ hearing ~ ~ ~e~i6
<br /> ................. ~ ....... received 3 .............
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<br /> ,,~¢e ........... ¢ u ............. a~ ........ ~ authority, fha COSTS ~f t,,hifh project may b~sess~ against the property.
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<br /> notre of pending s~2! ......... * is; ..... ~ after fh~ ~f~ ~f m;¢ Ag ...... ~ ~"~ ~" or before ~ .......... ~, assume
<br />55. paymcnt~f-AbL ! NONE4OTHER: of any~, .... ....... h fp~;~. -~¢¢~-*¢,.~, ~,,~"a Seller shall
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<br />86. payment on date~ c!osin~LL I N~E / OTHER: of an~ch special 3sscssme~s. If
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<br />57. aes~sments eFe ............ ~
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<br />58. Seller and Buyer Initial: Seller(s) Date Buyer(s) Date
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<br />59. MN:PA-1 (8/96)
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