4.1. SR 12-22-1997 - Laserfiche WebLink

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11:42 DAB MINNEAPOLIS a 4419425 N0.484 POO5x005 R~Ck-iVED OF' the sum at Date: Form 1519CIPA I (N~,~ ~i~4:~; C=.. St. F,-ul. ~ ¢OM~ER¢I~LolNDUSTRIA/ PURCHASE AGEI:EME~T This form approved by the Minnesota Assoclatlen of REALTORS®, which disclaims any liability arleing oW or' use or misuse or this form. ( $1 000 00 ) DOLLARS as earnest money and in pan payment for the purchase of prop~'ty situated in the County of .~herburne , State of Minneso~ and legally described ss follows: that part ofOurlo! R Country_ Cro~sing Business Center to be replsr~ed ~s Lot 1 Block 1 Country_ Cro~in[Bu~ine~ Center 2nd Addition_ ac depicted on the attache.d,. drawing together with the followini personal property:. None all or which property the undersigned has this day sold to the Buyer for the sum of: O-e I-Iundred Ninety. Thouiand ~md No/100 ,. ( S 190_0'-~O__ 00 ) DO~, which thc Buyer agrc:s to pay in the Following manner. Earnest rnon~ herein paid $1_000 00 and _ I;189 000 00 cash, on De.tuber 29 1997 , the date of closing adlXltllgi:~llral~ ~ XX XXX~~.d~0~ 1. DEED/MARKETABLE TITLE: Subject to performance by the Buyer, the ~eller agrees to execute and deliver a Zecordable _~eneral W,~rranty Deed conveying marketable title to said premises subject only to tho following excrptions: (a) Building and zoning laws, ordinmces, Slate and F~lcrai regulations. ~c~gallMteli~i~i~~:~il~l~Kig~ig~N~rs, alat ' ' (c) R~tion of any minerals or mineral zights to the State oi' Minnesota. Cd) Utility and drainage easements whi~ do not interfere with present improvements. (e) Rights ot'tamants as follows: None. (f) U6~lity ~nd dr'alnsge e~sernents which do not interfere with_in?ended improvemente 2. REAL ESTATE TAXES. Real estate taxes due and payable in the year or clc~!~: shall be prorated between Seller and Buyer on a calendar ye~ basis to the actual date of closing unle~.s otherwis~ provided in this AgreemenL Real estate ~.xes payable in the years prior lo closing shall be paid by Seller. Real estate taxes payable ia the years subsequent tn closi~ shall be paid by Buyer. 3, SP~CLLL ASS£SSlV[ENTS. · SELLI~R SHALL PAY on the date et' closin~ all installments ot special a.s~ssmaxts r. cr6ficd for payment with thc real estate taxcs du~ and payable in ~e year of closing. l~trike out one.] ~'~L~.,,~tt~[,~l,x~tifasl~xxi SELLER SHALL PAY ON DATE OF CLOSENG all other special msessmcnts lcvi~d as of the date of this Agr~.m~t. [$trik, out o~.] ~X¥ SET .T.I~.R SHALL PROVIDE PAYMENT OF special assessments pending ss of the date of this Agreement for improvements that have been ordered by the City Council or other governmenrld assessing authorities. (S¢ll~s provision rot payment shall b~ by payment into mcrow of 1½ timga tl~ e~imated amount of the ass~sments.) If a special ass~sment b~oraes pending after the date of this Agreement and before the date of closing, Buyer may, at Buyer's option: Assume payment of thc pending special assessment without adjustmen~ to the purcha.~ pri~; or Co) RCcluirc Seller to pay the pen~iing special assessment (or escrow for pay~nent ol' same a sum equal to 1 ~ times the projected pending assessment) and Buyer shall pay a commensurate increase in the pur~ase price or~¢ property, which irta~-~ shall be the same as the estimated amount oft, he assessmentl or (c) Decl0.r~ this Agrcr. rn~n! null and void by notic~ lo Seller, and earnest money shall be rcrun~i to Buyer. Seller shall pay on date o£ closing any d¢£erred real osram er special assessments paymeat or which is required as a result of the closi~ oCthis sale. 4. PRORATIONS. Ail items customarily prorated and adjusted in coea~ectlon with the closing of the sale o£the property herein in¢lucling but not limited to rents, operating ~p~ases, interes~ on any debt sssum~d by Buyer, shall be proralod u.s of the dat~ ofclosLng. It shall be assumed that the Buyer will own the property for the enLir~ date of the closing. DAM. AGES TO REAL PROPERTY. If thcr~ is any loss or damage to the prol~rty bet~cn thc date her~or and the date or closing, for any reason, the risk of loss shall be on thc Seller. Il'thc properly is destroyed or submarttial[y damaged hal-ore thc closing, this Purchase Agreement shall become null and void. at Buyer's elation. ~uyer shall have the ri~! to lel'~itlate this P~JrChas~ A~reemet~t within ilo days after Seller notifies Buy~ or such damage. Upon said termination, the earnest money ~ be refunded to Buyer and Buyer and Seller agree ~o sign a cancellation of Purchase Agreement. MNCI:PA-I (i 1/93)