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M.S.B.A. Real Property Form No. 8 (1997, 2017) <br />Addendum to Purchase Agreement: Wetlands, Shoreland and Flood Plain Disclosure PAGE 1 <br />ADDENDUM TO PURCHASE AGREEMENT: WETLANDS, SHORELAND AND <br />FLOOD PLAIN DISCLOSURE. © Copyright 1997, 2017 by Minnesota State Bar Association, Minneapolis, Minnesota. <br />[Use with "Minnesota Standard Residential Purchase Agreement," M.S.B.A.] <br />This addendum is a continuation of the Purchase Agreement dated 1 <br /> by and between , as Sellers,2 <br />and , as Buyers, for3 <br />property located at or described as:4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />2021 <br />PRECAUTION TO BUYERS: Minnesota law and local ordinances restrict the ability to build or22 <br />to rebuild improvements within flood plains, shorelands, and wetlands. These restrictions23 <br />affect homes, garages, outbuildings, wells, and individual on-site sewage treatment systems. 24 <br />You should not excavate in a wetland, fill a wetland or drain a wetland until you have received25 <br />the proper permits from the local governmental agencies having jurisdiction over the26 <br />wetlands.27 <br />28 <br />If you are purchasing property which has existing improvements constructed within flood29 <br />plains, shorelands, or wetlands, the improvements might be “nonconforming” under the law. 30 <br />In other words, you might not be allowed to rebuild the home in the event of a fire or31 <br />windstorm, and you might not be allowed to rebuild the individual on-site sewage treatment32 <br />system if it fails.33 <br />34 <br />If you are purchasing a home which is in a flood plain, you will likely be required by your35 <br />mortgage lender to purchase flood insurance. Your costs for flood insurance over the life of36 <br />the mortgage might exceed $20,000.37 <br /> 38 <br />39 <br />40 <br />41