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<br />Nu.lfiI7'A
<br />Ilcvl~",' 1!17I
<br />MII.I.I':Il.j)A v IS Co.
<br />MhlllUlllllllI1I
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<br />WIIITF:-om.. Cu"y
<br />YELI.OW--lIuy.... COI'Y
<br />GllEEN-S.ller'. COI'Y
<br />PINIC-Duyer'. nocol"t
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<br />PURCHASE AGREEMENT
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<br />.. .~~. ~... .~~.Y.~E...................... .Minn., .................. ................................, 19....?}
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<br />. UNITED POWER ASSOCIATION, a Minnesota cooperative association
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<br />RECEIVED OF..................................................................... ............................................................,.............................
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<br />Ihe sum of.. ~.~ ".f7... .~~?~.~ ~.~.?. ..~.~~...~.?!.~.q.~... ~::-:::-:-.~.-:-::-:-. :-:-.-:-:.-:-::-:-. ~.-:-:.-:-: :-:-.~ .-:-::-:-.. ($...? .,..q .~.~.~..q~) DOLI.ARS
<br />.....b..:y...~.I.l.~~.~............""......................................ns earnest money and in pare paymen! for Ihe purchase of properJY~tX
<br />(Check. C..h or Nol. - Slale Which)
<br />known as UPA Drive . .
<br />.............................................. ..... ............................... ......,.....,.......................,.......................................... .sHuatcd In the
<br />
<br />Coun!Y of....?~~~.l?,~~.~.~............................................... State of Minncsota, and Icgally described as follows, to-wit:
<br />A~proximately: The northeasterly 40 feet of Lots 1, 2, 3, 4 and 5, Block
<br />Vlllage of Elk River, as shown on Exhibit A attached hereto and made a
<br />part hereof.
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<br />includilll; ftll gftrdefl bulb3, pi ,
<br />shades, blinds (including venctian blinds), CUrlaJn rods, traverse g allt mlbs, plumbing
<br />lixlIIres, hot walcr tanks and heating plam (with 'any burners 6k, nl Olhcr equipment used in connection Ihere.
<br />with), watcr soflcner and liquid gas tank .anJ~s I Ihe properly of seller). slimp pump, Ielevision anlcnna, inciner-
<br />alOr, built-in dishwatlier;--g;rrlm1fe{[1sl10sal, ovens, cook lOp stoves and ccntral air conditioning equipment, if any, used and
<br />"'leJ 91\ saiJ-p_is@s ARd induding alse Ihe follewffig per30I\al-prere*Y':
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<br />8,
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<br />all of which property the undersigned has this day sold to the buyer for the sum of:
<br />q~~... ~.~~.~.q~~.q... ~.~.Y.~.~.t Y~.r~ y~... ~~S?~ .~.?.~~...~~9.-.. .n9.1.+..9. P.::.::::-.~.::::-.. ($ .+..7. ?.f..~9.P.:. .~ODOLLARS,
<br />which the buyer agrees 10 pay in the following manlier:
<br />Earnest money herein paid $..?d?.q.9..~.P.q. and L~.7.q.(.9.Q.9..~.Qf1sh, on .!\P.~~J....~..L..~~.~}......, the date of closing.
<br />
<br />See Addendum No. One attached hereto and made a part hereof for
<br />a~ditional terms of this Agreement.
<br />
<br />Quit Claim
<br />Subje(( 10 performance by the buyer Ihe seller agrees 10 execule an,1 ,Ieliver a................................................ ...........:.............. '\t;f~~~ Deed
<br />(I" be jnined in by S1'8113C, if aRY) "iII"cyiR8 J'A'HI'Ol.,hlll lilla IA [Aiel "ra...i,c, ",I, .
<br />(a) Duil.1inll and loning laws, or.linances, Slale ami Federal regulalions.
<br />(b) Reslliclions relalin/l 10 use or iml'rovemelU of l,remises wit . ellure provision.
<br />(c) Reservation of any minerals or nllne' ale of Minnesota.
<br />(d) Ulilit an' 'illS w lich ,10 nO! interfere will. present improvements.
<br />,~a '"
<br />The buyer shall pay Ihe real est.ate laxes due in Ihe year 19. :'. ... Seller represents that there are no special
<br />assessments against the property. . .
<br />
<br />Neilher the seller nor Ihe seller's agent make any representalion or warrallly whatsoever concerning the amount of real estate laxes
<br />which sh,,1I be assesse,l allainst Ihe property subsequent to the ,laIC of purchase.
<br />. Seller covenanlS thatllllihlinl\s, if any, are entirely wilhinlhe boun.l"ry lines of Ihe propertY.llnll "~rLe~:~ ~~~C all "enR..or rr-1'8rl'\'
<br />nor indu.led herein and all ,Iehris from Ihe premises prior 10 possession ,hue SFII t:1l W....nRAHT3"* . . . .1 liS, I WATlNG. AIR
<br />CONDITIONIN~ WmINr. AND 111 UMBIN~D l.ULATliD ON SAID PREMISES AilE IN PIlOI'IHl WORKING ORDER
<br />It'1' r..\ II. 01 CL m . th d t fl'
<br />The seller fUrlher ar,rees to ,Icliver 1'05session not !:lIer'lhan ...~.....i:l...e...o........C?....().s.:L.n~ovide.llhal ~II condilions o( this
<br />agreemenl have been complied with. Unless oll,erwise specilied Ihis sale s.h" II be dose.1 on or before 60 .Iays frolll Ihe dale hereof.
<br />.J.n-the elent Ihis I'r81,uly-fs-.test~~,-",J.~11' ,1~nl'Il".II,y lire or ony ",!.pr (?I'ce before lh. &1..ciIl8 .Ialc, rhi, "ll18c...e..r ,hall
<br />Ioc'9...a .."II 811.1 \'"i,I, Ilr doe-f'urd'"M!!" "f'lioR, and all mA"i"s-pai,1 h"r"\U,,I.. t1,,1I bll luluRd..lr" hi....
<br />'fin.. LU)'\.I IUIlI ;n.ltCT-;tt!O .....hle.II, I\AH:c.. tiltH IHft-l"ttf1t-ftttj\lstRleRt:i 01 re-RU, il~te-fe3t. i'UUfftl1Ct 8"J eit~ uAter. ""nl. i.. tl.l (AJ.< of
<br />
<br />iRClIlMt ,:~:,~erM f~:;~~~~~t~~~:~:gl?:t:tgl~~:e~i~~~:v%~Pffltiii$~~;J;~;'l~ ~~.~~~;.. ~i;~;;~;;" "r" ~'i; i~," .~;.. ~.. Rellis;e;~~i' 'i;r(lI'~;I~
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<br />Ahstracl ce,M,e,Fro ,hlle to inclu.le proper searlhes coverinl: bankruJ>lcies, and Slale and Fc.leral jn.!l1ments allll liens. The I"'l'cr shall be
<br />allowed 10 ,lal'S after receipr Ihereof (or examinatioll of said tille an,l Ihe maki"H o( any ohjections lhcrer", saill ohieClions 10 he ma,le in
<br />writin/l or .Ieeme.! 10 be waive,1. If any ohjeClions are so ma.le Ihe seller shall be allowe.l 120 ,lays 10 make such tille markelahle. "en,ling
<br />corrcction o( rille rhe paymenrs hereun.ler require.l shall he postpone.l, 11I1I upon correnion of lille an,1 wilhin J() .lays after wlillell nOlice
<br />10 rhe buyer, the parlies shall I,erform Ihis allreemeor acco,.Iinl1 1tI ilslerms.
<br />If sai.!lirle is not marketahle an.! is nol made so wirhin 120 ,lays (rom d.e .Iarc o( wrillen ohjellions therelo as ahove proville.l, Ihis
<br />a/lreemelll shall he null an.l voi,I, at oprion of Ihe buyer, an.! neilher prillcipal shall he liable (or ,Iamagcs hcreunder 10 rhe olher priucipal.
<br />All mnncy d,erelo(me pail\ hy the bu).er shall be refun,led. If Ihe rille 10 sai,lpropcrty be (oulI,1 marketable or he so ma.le within said rime,
<br />and said huyer shall default in any o( Iheagreemenls a,"1 conrinue in ,Iefault for a !,eliod of 10 .Iays. Ihen an.1 in dUll case Ihe seller mar
<br />lerminale Ihis conllan an.1 on Stich lerlllillation alllhe pay me 1115 made upon Ihis conrcaCl shall hc reraine.l hy sai.l seller an.1 sai.1 al1enl, aF,
<br />Iheir ,cspeClive inrercs.s m"y "!'pe",. "s li'lui,hllcd ,1"maHes, rime heinl: of Ihe essence hercof. This provision shall nOI deprive either parry o~
<br />rhe ril:11I of enforcinl1 Ihe spccili performance o( this coorraCl pruvillell such conllaCl shall nlll be tcrm;,ulledas afores,,;d. allll provide,1 acrim~
<br />10 en(orre such sl>ecilic performa ce shall be commencc.! wilhin six monlhs afler slllh right o( aclion shall arise. ,
<br />It is u,,,lerslOod an.1 ap,r cd Ihat Ihis sale is made suhjeCl 10 Ihe approval by rhe oWller of sai.1 premises in wriling Rnd Ihar rhe nndcr~
<br />sillnell agclll is in no manner lia Ie or responsihle on aClounl of Ihis allreemenl, excel,r 10 renlrn or acrounl (or Ihe earnest money paid under
<br />Ihis conllaCI.
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<br />The delivery of all papers and m nies shall be made uthe office of:
<br />Seller
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<br />I, the un.lersigned, ownet of he above land, do hereby approve
<br />the above agreemenr and Ihe sale hereby made.
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<br />Dy ...................... ..................................................................... .Agen~
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<br />I herehy agree 10 purchase the said properlY for Ihe price an.!
<br />lI)>on the rellns ahove melllioned, and subject 10 all condilions
<br />herein eXlllessed. i
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<br />CITY OF ELK RIV R
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<br />.................................................... ... .... ................................... (SEAL)
<br />Slier
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<br />UNITED POWER ASSOCIATION i
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<br />....................................................... ....................................... (SEAL)!
<br />Duyer
<br />By:
<br />... ..... ................ ....,....................... ,...... ..... .............. ................ (SEA L)
<br />Its: Duyer
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<br />.~y..;............................................ .... .... .............................. ... (SEA L)
<br />Its: Seller
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