Laserfiche WebLink
EL185\75\970271.v12 <br />FORTHFOURTH AMENDMENT TO PURCHASE AND SALE AGREEMENT <br />This ForthFourth Amendment to Purchase and Sale Agreement (this “Fourth Amendment”)is <br />made this 5th_____ day of August,2024 by and between the Elk River Housing and Redevelopment <br />Authority,a Minnesota body corporate and politic (the “HRA”)and Ronald J.Touchette,a married <br />person subsequently assigned to Medical on Main LLC, (as assigned, (the “Buyer”). <br />WHEREAS,the HRA and the Buyer entered into that certain Purchase and Sale Agreement <br />dated June 21st, 2023, as amended by that certain First Amendment to Purchase and Sale Agreement <br />dated March 14, 2024, as further amended by that certain Second Amendment to Purchase and Sale <br />Agreement dated May 29th, 2024, and as further amended by that certain Third Amendment to <br />Purchase and Sale Agreement dated July 5th, 2024 (as amended, the “Agreement”) providing for the <br />conveyance by the HRA to the Buyer of certain property located in the City of Elk River, Sherburne <br />County, Minnesota and legally described on the attached Exhibit A (the “Property”); and <br />WHEREAS, the HRA and the Buyer desire to further amend the Agreement on the terms <br />and conditions set forth herein. <br />NOW, THEREFORE,in consideration of the premises and the mutual obligations of the <br />parties hereto, each of them does hereby covenant and agree with the other as follows: <br />1.Amendment to Paragraph 4.3 of the Agreement. The following paragraphs will be added to <br />Paragraph 4.3 of the Agreement to read as follows: <br />4.3.4 The HRA shall provide to Buyer a credit upon Closing for the soil correction <br />needs and requirements of the property as identified by the AET soils report in <br />the amount of fifty-three thousand nine hundred thirty-nine dollars ($53,939.00) <br />for the Buyer to repair and restore the uncompacted soils and buried debris as <br />described in the AET Geo Tech Report dated 7-9-2021. The Buyer agrees to <br />accept such soils and conditions of the properties upon the receipt of such credit <br />at Closing and the HRA shall have no further obligation or responsibility <br />regarding such soils and debris thereinafter. This agreement as detailed herein <br />shall survive Closing. <br />4.3.5 The HRA shall certify, agree and warrant, at the sole expense of the <br />HRA,warrants that all necessary or required water and sanitary sewer utility <br />disconnectsdisconnections to the Property have been made and any utility <br />restorations associated with the same have been completed and that the Buyer <br />shall have no obligation regarding the old utility connections or any <br />circumstance or situation arising from same in perpetuity. <br />Additionally, the HRA specifically represents and warrantieswarrants that <br />with respect to the HRA, the Buyer shall have no responsibility to maintain, <br />protect or provide for the continuation of the use of any portion on, over or <br />under the Property by any utility services or connections, includingprivate <br />water connections to other properties that are not part of the Property to be <br />conveyed, that are not contained within the current utility easements as shown <br />Page 10 of 45