6.17. SR 07-15-2002 - Laserfiche WebLink

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Form 1325 Minnesota Vacant Lot Purchase Agreement - Residential Development Tract Mifler/Oavi$ Co.· St. Paul, MN 651-642-1986 M.S.B.A. Real Property Form No. 32 (August, 1997) PURCHASE AGREEMENT I PAGE 4 257 (c) Locates all platted end unplatted property lines and lot lines. 258 (d) Loostee all streets adjacent to the property, 259 (a) Locates all curb cuts, driveways end fences. 260 (fa Looates all esesmenta described in the plat, if any, and in the record tiffs of the property. 261 (g) Locates all visible utility lines that service the property and improvements (sewer, water, gas, electric and telephone}. 262 (h) Locetae any building astheck lines. 263 (i) Locatae all encroachments or maksa a positive statement that there are no encroachments. 264 (j) Locates all lmprovemanta on the property. 265 (k) Shows all descriptions, angles, and other calls contained in the legal description. 266 287 Buyer ~hall promptly retain a ~urveyor. If the ~urvey reveals boundary or title problems, Buyer shall promptly deliver · copy of the 268 warvay to Seller. If the survey has been delivered to Buyer after Buyer's date for starting title objections, Buyer ~hall have an additional 269 tan {10} days from the date of receiving the survey in which to Mate additional title objections. If the boundary or title orobleme 270 prevent this transaction from closing, Seller shall reimburse Buyer for all expensal of ~urvey and Buyer ~hall eealgn all rights in end to 271 the survey to Sailer. 272 273 C. ENVIRONMENTAL ASSESSMENT. This Purchase Agreement ia contingent upon Buyer obtaining, at Buyer's axpooae, a Phase I 274 Environmental A~eesmant of the property by [date/ Iuly 10:3i~Y~ , sufficient to meet the diligence requirements of federal and 275 ~tata law, certified to Buyer as of a current data (no eedier than the date of this Purchase Agreement) evidencing condition= 276 satisfactory to Buyer. Buyer shall promptly retain a qualified environmental ~cientist to conduct the environmental eeeesament. If the 277 environmental assessment reveals environmental conditions which are in violation of the law, Buyer shall promptly deliver a copy of 278 the report to Seller. If the environmental conditions ere not remedied by Seller, thereby preventing this transaction from closing, Seller 279 shall reimburse Buyer for all expenses of the environmental asaesament and Buyer ~hell esaign all rights in and to the environmental 280 esaeumont to Seller. 281 282 D. UTILITIES: The price offered by Buyer in this Pumhasa Agreement does not reflect any reliance upon any representations mede by 283 Seller aa to the location Or availability of utilities. Buyer's obligation to close under this Purchesa Agreement is contingent upon Buyer 284 obtaining, st Buyer's expense, verification that utilities can be provided to the property at costs which era reasonable for Buyer. This 285 contingency shall be setisfied by [dare] ~]A or he deemed waived. NOTE: Unless the fallowing co~ta end 286 charges have been assessed against the property prior to the date of this Pumhese Agreement by the governmental unit having 287 jurisdiction (and therefore already covered by the provisions for payment of special assessments). Buyer shell assume the payment of 288 municipal charges for development on, construction on, or improvement of the ~ubject property related to acceel fees, connection fees 289 and "hook up' fees for connections to sewer, water, and other utilities. 290 291 If any of the contingencies (1) has not been fully and completely performed or fulfilled, (2) has not been waived, or (3) has not ocoun~d 292 to the satisfaction of Buyer on or before the respective performance dates, this Purchase Agreement shall be null and void et the enla 293 option of Buyer, which option must be exercised by notice to Seller on or before the Date of Closing, and the earnest money herein paid 294 shell be promptly refunded to Buyer upon Buyer's asemlse of the option to declare this purchase Agreement null and void. Both Buyer 295 and Seller shall cooperate and make all res~onable efforts to attempt to remove the contingencies by the respective performance dates. 296 297 298 299 300 301 302 3O3 304 305 3O6 23. CLOSING. Closing shell he at the office of Seller's lawyer, Buyer's title insurer, or at =oma other mutually agreeable location. [State otherlocetion:] 130~ ~mnn P~l~va.v_ ~,lk River_ MN At clos~g, S~ler and Bwer shall dlscl~ ~eir ~ial Se~r~ N~re or F~erel Tax Idemlflcetlon Num~s fm ~ ~ses of ~mpleting state end federal tax 24. ADDITIONAL TERMB. 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 25. ADDENDA. Attached are ] addenda which are mede a part of this Purohese Agreement. 26. TIME IS OF THE ESSENCE. Time is of the essence for all provisions of this Purchase Agreement. 27. MULTII~E ORIGINALS. Seller and Buyer have signed/number[ t originals of this Purchase Agreement. THIS IS A LEGALLY BINDING CONTRACT. BEFORE SIGNING, CONSULT A LAWYER. Minoesota law permits liconsad real estate brokers end sales agents to prepare pu~chese agreements. No recommendation or representation may be made by any real estate broker or sales agent aa to the legal sufficiency, the legal effect, or the tax conesquencee of this cataract. These ara questlorm for your lawyer. I agree to sell the property for the price and tarms and conditions set forth above. I agree to purchase the property for the price end terms and conditions set forth above. SELLER: BUYER: (datal Grace Assembly of God, a Minnesota non-profit Percy Kalicvig The City of Elk River, e municipal corporation {date} SELLER: BUYER: (date) {date)