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Miller/Davis Co. · St. P~ul, MN 6B1-642-1988
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<br />Form 1325 M.S.B.A. Real Property Form No. 32 (August, 1997)
<br />Minnesota Vacant Lot Purchesa Agrsbment - ReNdentisl Development Tract PURCHASE AGREEMENT / PAGE 1
<br /> MINNESOTA VACANT LOT PURCHASE AGREEMENT -- RESIDENTIAL DEVELOPMENT TRACT
<br />· Copyright 1997 by Minnesota State Bar Association, Minneapolis, Minnesota
<br />BEFORE YOU USE OR SIGN THIS CONTRACT, YOU SHOULD CONSULT WITH A LAWYER TO DETERMINE THAT THIS CONTRACT
<br />ADEQUATELY PROTECTS YOUR LEGAL RIGHTS. Minnesota State Bar Aseocistic~ disclaims any liability arising out of the use of this form.
<br /> 1 1. PARTIES. This Purchase Agreement is mede on ?.1qo2(~2 , by and between
<br />2 ~,r~ee A.~emhly nf ~'~d a Minne.~m nrm-.n~nfit ~n .r~rmtinn [medta/status/
<br />3 of [seller's address] IAR2~ Ri~_hway IN , SELLER, and
<br />4 The ~_Jw. nf~l~ RJv~. s m.nici?] en .r~nmtinn IS joint tenants [strike "jolt tenants'
<br />B /f tenancy-in common is intended/of [buyer's address/ l?JrJ~5 (")rnn~ P~rEw=,v? FIk River. ~ 5S~;N
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<br /> 7 BUYER.
<br /> 8 2. OFFER/ACCEPTANCE. Buyer offers to purchase end Seller egress to sell real property legally described
<br />9 ] ! .(~ n~re~ in the C~i? nf Flit River ;hn,arn nn F,hlhit A .rrrh~l h~mtn
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<br />jProparty Tax Identification Number or Tax Parcel Number
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<br />75-12~-~01 ]
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<br />located st , City of
<br />County of ~, State of Minnascta, Zip Code ~'~O
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<br />FIE River .
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<br />3. ACCEPTANCE DEADUNE. The acceptance date of this Purchase Agreement is the data it is delivered by the last p~ly alining to the
<br />other party. This offer to purchase, unless accepted ~onor, shaU be void et 11:59 A.M. on/date/ l.l? Ig :~
<br />end in ~uch event all earnest money shall be refunded to Buyer,
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<br />4. PERSONAL PROPERTY AND HXTURES INCLUDED IN 8ALE. The following itama of parrmnel property and fixtures owned by Seller
<br />and currently located on the real property are included in this sale [Strike out items not in(dudedl: garden bulpa, plante, shrubs, t~'eee,
<br />fences, gates, culverts, survey monuments and also the following property:
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<br />Upon delivery of the Deed, Seller shall also deliver a Warranty Bill of Sale for the above personal property. [Check the box if the following
<br />provision applies to this Purchase Agreement:/ [] Seller shall use M.S.B.A. Real Property Form No. g0 (1997), Warranty Bill of Sale.
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<br />6. PRICE AND TERMS. The price for the reel and personal property included in this sale ia Two Rurdmd ]:ibsen l'hnm, ard .rd (IN/III:}
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<br />Dollars ($ 215 ~ (~J ), which Buyer shell pay es follows:
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<br />Earnest money of $ 2:(~0.(~) by Pr, Xl CHECK, /BIBLE - state which) ~he~k payable to
<br />elect
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<br /> Seller, to be deposited and held by Seller (and may be commingled with Seller's other funds) pending closing,
<br /> Seller's lawyer, to be deposited and held In the lawyer's trust account pending closing,
<br /> Seller's broker, to be deposited or held by broker according to the requiremanta of Minnesota Statutes,
<br /> Other [desc/~be how the earnest money will be held/
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<br />receipt of which is hereby acknowledged and ~ $21'~.(X~I_(~ cash, on Jul.v lq ~ , the DATE OF CLOSING, end
<br />the balance of $ N~, by financing aa shown on the attached Financing Addendum.
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<br />6. DEED/MARKETABLE TITLE. Upon performance by Buyer, Seller shall execute and deliver s ~'~neml Werrenty Deed, joined
<br />in by spouse, if any, conveying marketable title of record, subject to:
<br />A. Building end zoning laws, ordinances, state and federal reguiotiuna;
<br /> B. Exceptions to title which oonetituta encumbrances, restrictions, or easements which have been discloeed to Buyer and accepted by Buyer
<br /> in this Purchase Agreement/must be specified in writing/: ~
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<br />51 7. REAL ESTATE TAXES AND SPECIAL ASSESSMENTS. Real estate taxes due end payable in and for the year of clceing shell pa pro-
<br />52 rated between Seller and Buyer on s calendar year basil to the actual Date of Closing, unless otherwise provided in this Purchase Agreement.
<br />63 If tax statements for such taxes ere not available on the Date of Closing, the amount to be prorated shall be ..].(]0_ % of the prior year's taxes.
<br />54 and such estimated proration shall ha [strike one] ~ ~L ~r~ I ADJUSTED UPON RECBrF OF
<br />65 THE ACTUAL TAX STATEMENTS FOR SUCH YEAR (in which case the party entitled to · credit es e result of the adjustment shall receive
<br />56 the amount of such credit from the other party within 30 days of issuance of the tax statements). Selle~ represents the taxes due end
<br />67 payable in the year(8) 2(X~2 will be ~k~, ;~;1', NON- homestead classification, unless Buyer changel the tax cleslificstion for taxes
<br />58 psyabil in the year following closing by taking pomlon of the real property as Buyer's home,teed and filing · new homestead dKlaretlon
<br />59 within the time required by law. If the taxes due and payable in the year of closing ers PART or NON-homestead classification, Seller shall
<br />60 pay to Buyer at clceing$ 0 , in addition to Seller's prorated share of the taxes. If the taxes due and payable In the year
<br />61 following closing are PART or NON-homestead classification and the closing takes place after the date by which Buyer must take pceeeseion
<br />62 of the property aa Buyer's homestesd to file for homeataed tax status for taxes due and payable in such year, Seller shell pay to Buyer at
<br />63 closing $ 0 ss Seller's share of such taxes.
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<br />65 /$t~ke one:/ BUYER AND SELLER SHALL PRORATE AS OF THE DATE OF CLOSING I
<br />66 all installmonta of special asaosamenta certified for payment with the real estate taxes due end payable in the year of closing.
<br />67 [$t/fke one:J ~L~~l(]~ I SELLER 3HALL PAY ON DATE OF CLOSING ell other specisl aseasamenta levied as of the
<br />68 date of this Purchase Agreement.
<br />89 /SUlks one:/]~~~(A~X I SELLER SHALL PROVIDE FOR PAYMENT OF special assessments pending aa of the date of
<br />70 this Purchase Agreement for improvements that have been ordered by the City Council or othor governmental a~MIng authorities. (Seller's
<br />71 provision for payment shall be by payment into escrow of 1 1/2 times the eatimated amount of the eeaeasmentl.) As of the date of this
<br />72 Purchase Agreement, Seller represents that Seller has not received a Notice of Hearing of · new public improvement project from any
<br />73 governmental assessing authority, the costs of which project may be assessed against the property. If e spocisl assessment becomes
<br />74 pending after the date of this Purchase Agreement end before the Oats of Closing, Buyer may, et Buyer's option:
<br />75 A. Assume payment of the pending special aseesemsnt without adjustment to the purchase price of the property; or,
<br />76 B. Require Seller to pay the pending special assessment (or escrow for payment of same es provided above) sad Buyer shall pay ·
<br />77 cornmsnsureta increase in the purchase price of the real property, which increase ~hall pa the seme sa tho estimated amount of the
<br />78 aseesament; or,
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