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PURCHASE ACBEEMENT
<br />This PURCHASE AGREEMENT (the "Agreement ") is entered into and effective on this l I 1 day of
<br />November, 2016 (the "Effective Date ") by and between NORTHERN' LIGHTS INVESTMENTS. LLC.
<br />a Minnesota limited liability company, whose business address is 13792 247h Avenue NW,
<br />Zimmerman. MN, 55398 ( "Seller" or the "Seller'). and NEW RESOURCES. LLC, a Minnesota limited
<br />liability company, whose business address is 630 Proctor Avenue, Eli: River. MN. 55330 ("Buyer" or
<br />the "Buyer"). Seller and Buyer are sometimes jointly referred to in this Agreement as the 'Parties.'
<br />BACKGROUND FACTS:
<br />A. The Seller is the fee owner of all right, title and interest in and to that certain real property
<br />consisting of approximately .5 acres, with the street address, 620 Quinn Avenue NW, Elk River, MN.
<br />55330, Property ID Number: 75- 403 -0010, Sherburne County, State of Minnesota, and more specifically
<br />and legally described in Exhibit "A" to this Agreement, which is incorporated in this Agreement by this
<br />reference, together with all easements, rights, tenements, hereditaments, and appurtenances benefitting
<br />or belonging to such real property, all buildings, structures and other improvements erected or placed on
<br />such real property, and all other property and interests as may be included in this Agreement
<br />(collectively referred to in this Agreement as the "Real Property ").
<br />B. The Buyer has offered to purchase the Real Property from the Seller on the terms and
<br />conditions set forth in this Agreement, and the Seller has accepted the Buyer's offer. Therefore. the
<br />Parties intend for the Buyer to purchase the Real Property from Seller according to the terms of this
<br />Agreement.
<br />In consideration of the promises, representations and warranties in this Agreement and other good and
<br />valuable consideration mutually exchanged, the receipt and sufficiency of which the Parties each
<br />acknowledge. the Parties, intending to be legally bound, agree as follows:
<br />AGREEMENT:
<br />1. 1puMh&M and Salo gf the ftl er . Subject to the terms and conditions set forth in this
<br />Agreement, at Closing, Seller shall sell, transfer and convey to the Buyer, and the Buyer shall
<br />purchase from the Seller, all of the Seller's right, title and interest in and to the Real Property free
<br />and clear of any and all liens, encumbrances, claims or interests of whatever nature as of the Closing
<br />Date, except as may be agreed upon in writing by Buyer.
<br />2. purchase Prig. Subject to the terms and conditions set forth in this Agreement, the total ,purchase
<br />price for the Real Property of SEVENTY FIVE THOUSAND AND 00 /100 DOLLARS_ ($75,000.00)
<br />(the "Purchase Price") shall be paid by the Buyer to Seller in cash, as follows:
<br />2.1. Earnest Money. An earnest money deposit in the amount of One Thousand Dollars
<br />($1000,00) shall be delivered to Seller at 13792 247`h Ave NW, Zimmerman, MN 55398 no
<br />later than two (2) business days after the Effective Date. If this Agreement is terminated by
<br />Buyer for any reason as provided in Sections 4. 5 or 6 of this Agreement, the Earnest Money
<br />shall be refunded in its entirety to Buyer.
<br />2.2. Purchase_Pricc DAIggge. The balance of the Purchase Price in the amount of Seventy four and
<br />001100 Dollars ($74,000.00) shall be paid in cash at Closing.
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