7.1. SR 03-15-1998 - Laserfiche WebLink

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. . . ADDENDUM NO. ONE TO PURCHASE AGREEMENT BY AND BETWEEN UNITED POWER ASSOCIATION, BUYER AND CITY OF ELK RIVER, SELLER The following terms and conditions are hereby incorporated in the Purchase Agreement dated March , 1993 (the "Purchase Agreement"), by and between Buyer and Seller. Wherever there is a conflict between the Purchase Agreement and this Addendum No. One (this "Addendum"), the provisions of this Addendum shall govern: 1.) Legal Description - Seller shall cause a survey of the property that is the subject of this Agreement (the "Property") to be prepared at Seller's expense within thirty (30) days after the date hereof by a Minnesota Registered Land Surveyor, and certified in favor of Buyer and Seller. Said survey shall accurately legally describe the Property. Said legal description shall be approved by Buyer and Seller and thereafter shall replace the approximate legal description set forth in the Purchase Agreement. 2.) Easement to Seller - At the closing, Buyer shall grant to Seller an easement over, upon and across the Property for access to Seller's well and filtration plant, as well as for ingress, egress and access to the balance of Lots 1, 2, 3, 4 and 5, Block 8, Village of Elk River (commonly known as the old City Hall site and the old creamery building site and referred to herein as the "OCH Parcel"). Such easements shall be in form and substance acceptable to Seller. In the alternative, in Seller's deed to Buyer, Seller may reserve said easements. 3.) Street Vacation - Prior to the date of closing, Seller shall, if necessary, vacate the Property as a public street or right of way and shall cause the Property to be subdivided as a separate tax parcel by appropriate action. If Seller is diligently undertaking to so vacate and subdivide the Property, but said vacation and/or subdivision has not been completed by the date of closing, Seller shall have such additional period of time necessary to complete the vacation, but not to exceed an additional ninety (90) days. If such vacation and/or subdivision has not been completed within said additional ninety (90) days, then, at the option of Buyer or Seller, this Agreement shall be null and void and the earnest money and any other part of the purchase price paid at that time shall be returned to Buyer. 4.) Restrictive Covenants against Old City Hall Site - On or before the date of closing, Seller shall subject the property referred to above as the OCH Parcel to certain restrictive covenants. Said restrictive covenants shall provide that the OCH Parcel shall not be used for retail or private commercial purposes. Said restrictive covenants shall not limit the use of the OCH Parcel for governmental, quasi-governmental or nonprofit organization purposes, except that the OCH Parcel shall not be used for school purposes nor for retail government purposes, such as a municipal liquor store. By way of example, but without limitation, the OCH Parcel may be used for a school administration building, government building, Chamber of Commerce building, or park and ride facility. 5.) Maintenance of OCH Parcel - Seller shall retain the responsibility for landscaping and maintenance of the OCH Parcel. 6.) Abstract of Title - If Seller possesses an abstract of title for the Property, Seller shall furnish it to Buyer in its existing state of continuation. If said abstract of title covers other real estate in addition to the Property, then Buyer shall return said abstract of title to Seller on or prior to the date of closing.