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<br />EASEMENT PURCHASE AGREEMENT <br /> <br /> THIS EASEMENT PURCHASE AGREEMENT (this “Agreement”), made the <br />effective date of this Agreement, defined below, by and between the CITY OF ELK RIVER, a <br />Minnesota municipal corporation, 13065 Orono Parkway, Elk River, MN 55330 (hereinafter the <br />“Buyer”), and ROBERT A. BECK and JUNE MARIE BECK, husband and wife, as joint <br />tenants, 18454 Waco St. NW, Elk River, MN 55330 (hereinafter (“Sellers”). <br /> <br />RECITALS: <br /> <br />WHEREAS, Sellers are the fee owners of certain real property within the City of Elk River, <br />County of Sherburne, State of Minnesota, legally described in attached Exhibit “A” (hereinafter <br />“Property”); and <br /> <br />WHEREAS, Buyer desires to purchase from Sellers easements over a portion of the <br />Property. <br /> <br />NOW, THEREFORE, in consideration of the mutual covenants, duties and obligations <br />contained herein the parties agree as follows: <br /> <br />1. RECITALS: The foregoing Recitals are a material part of this Agreement and are <br />incorporated herein. <br /> <br />2. SALE OF EASEMENT: Sellers shall convey to Buyer and Buyer shall acquire from <br />Sellers, the permanent and temporary easements (hereinafter the “Easements”) over, under <br />and across those portions of the Property legally described on attached Exhibit “B” <br />(hereinafter, the “Easement Areas”). <br /> <br />3. PURCHASE PRICE AND MANNER OF PAYMENT: The total purchase price to be <br />paid by Buyer to Sellers for the Easements shall be Thirty Five Thousand and 00/100ths <br />Dollars ($35,000.00) (the “Purchase Price”) which Buyer agrees to pay in the form of <br />certified funds or wire transfer at Closing (defined below). <br /> <br />4. GRANT OF EASEMENT: Subject to performance by Buyer, Sellers agree to execute and <br />deliver at the time of Closing, the easement document attached hereto as Exhibit “C” <br />(“Grant of Easements”). <br /> <br />5. RECORDING: Sellers acknowledge that the Buyer will record the Grant of Easements <br />against the Property. Sellers agree to cooperate with Buyer with respect to recording any <br />documents contemplated by this Agreement. <br /> <br />6. AUTHORITY: Sellers represent that they have the full authority to enter into this <br />Agreement and execute the Grant of Easements and grant the Easements to Buyer. <br /> <br />7. TAXES AND ASSESSMENTS: Sellers shall continue to be responsible for any real estate <br />taxes and special assessments attributable to the Easement Areas. <br />1 <br />222232v2 <br /> <br />