HomeMy WebLinkAboutContract 1699Address:
PIN #
3929 California Street
Columbia Heights, MN
34-30-24-41-0021
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REAL ESTATE SALE/PURCHASE AGREEMENT
THIS AGREEMENT, made as of the 12th day of__December, 2002, by and between
the City of Columbia Heights, a municipal corporation, hereinafter referred to as Seller, and
Glen Stauffacher, hereinafter referred to as Buyer.
WlTNESSETH:
WHEREAS, Seller owns certain real estate situated at 3929 California Street, Columbia
Heights, Minnesota, and legally described below; and
WHEREAS, Buyer wishes to purchase and Seller is willing to sell to Buyer said real
estate; and
WHEREAS, the parties wish to define their respective rights, duties and obligations
related to the sale/purchase of said real estate.
NOW, THEREFORE, in consideration of the mutual promises and the respective
agreements contained herein, the parties hereby agree as follows:
1. Property_
The Seller hereby agrees to sell and the Buyer hereby agrees to purchase the following
described real estate located in the City of Columbia Heights, State of Minnesota to-wit:
Columbia Heights Annex, Lots 23, 24, 25, 26, 27, 28, 29 & 30, Block 73.
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2. Purchase Price
The purchase price for the subject property shall be the sum of One Hundred Thirteen
Thousand Five Hundred Forty_ Two and 00/100 Dollars ($113,542.00) payable at closing.
3. Contingency
This offer is contingent upon approval by the Columbia. Heights City Council for a period
of 60 days after signing of the Purchase Agreement by the Seller.
4. Closing
The closing shall be within 30 days after all required City Council and EDA actions have
been finalized and all title objections have been satisfied by the Seller, if any have been made by
the Buyer.
5. Possession
The Seller further agrees to deliver possession not later than at closing, after closing
provided that all conditions of this agreement have been complied with. All charges for city
water, city sewer, electricity, and natural gas shall be prorated between the parties as of date of
possession. Seller agrees to remove ALL DEBRIS AND ALL PERSONAL PROPERTY NOT
INCLUDED HEREIN from the property by possession date. Any personal property not removed
by the date of possession, shall be considered the property of the Buyer.
6. Deed/Marketable Title
Subject to performance by the Buyer, the Seller agrees to execute and deliver a Warranty
Deed conveying marketable title to said premised subject only to the following exceptions.:
a)
2)
3)
4)
5)
Building and zoning Iaws, ordinances, State and Federal regulations.
Restrictions relating to use or improvement of premises without effective
forfeiture provision.
Reservation of any minerals or mineral rights to the State of Minnesota.
Utility and drainage easements, which do not interfere with present
improvements.
Rights of tenants as follows: (unless specified, not subject to tenancies)
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7. Title
The Seller shall, within a reasonable time after approval of this agreement, furnish an
abstract of title, or a registered Property Abstract certified to date to include proper searches
covering bankruptcies, and State and Federal judgements and liens. The Buyer shall be allowed
15 days after receipt thereof for examination of said title and the making of any objections
thereto, said objections to be made in writing or deemed to be waived. If any objections are so
made the Seller shall be allowed 60 days to make such title marketable. Pending correction of
title the payments hereunder required shall be postponed, but upon correction of title and within
10 days after written notice to the Buyer, the parties shall perform this agreement according to its
terms.
If Seller shall fall to have said exceptions removed or satisfied within the time provided,
Buyer may elect to do one or more of the following: (a) remove or satisfy the exceptions on
behalf of Seller and at Seller's cost and expense, all of which costs and expenses shall be
deducted fi:om the purchase price at closing; Co) elect to purchase the property subject to the
exceptions; and/or (c) declare this Agreement null and void (in which case neither party shall
have any further liability or obligation to the other. In the event Buyer elects to remove or satisfy
the exceptions on behalf of Seller in accordance with alternative (a) above, Seller shall cooperate
with and assist Buyer in all reasonable respects.
8. Real Estate Taxes
Real estate taxes due and payable in and for the year of closing shall be prorated between
the Seller and Buyer on a calendar basis to the actual date of closing.
9. Special Assessments
Seller shall pay on date of closing all installments of special assessments. Seller shall pay
on date of closing all other special assessments levied as of the date of closing. Seller shall
provide for payment of all special assessments pending as of the date of closing for
improvements that have been ordered by the city or other assessing authorities. Seller shall pay
on the date of closing, any deferred taxes.
10. Seller Warranties
Seller warrants that there is a right of access to the property fi:om a public right of way.
This warranty shall survive the delivery of the deed or contract for deed.
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Seller wan'ants that prior to the closing, payment in full will have been made for all labor,
materials, machinery, fixtures or tools furnished within the 120 days immediately preceding the
closing in connection with construction, alteration or repair of any structure on or improvement
to the property.
Seller warrants upon execution of this Agreement, Seller will not rent the property once it
is vacated by any person now occupying same.
Seller warrants Seller has executed no option to purchase, right of first refusal, or any
other agreement giving any person or other entity the right to purchase or otherwise acquire any
interest in the property, and Seller is unaware of any option to purchase, right of first refusal, or
other similar fights affecting the property, except as otherwise noted in the title commitment for
the property.
Seller has received no notice of any action, litigation, investigation or proceeding of any
kind pending against Seller, nor to the best of Seller's knowledge is any action, litigation,
investigation, or proceeding pending or threatened against the Subject Premises, or any part
thereof.
On the Date of Closing, there will be no service contracts in effect in connection with the
Subject Premises, except those which are terminable on thirty (30) days' written notice.
11. Risk of Loss
If there is any loss or damage to the property between the date hereof and the date of
closing, for any reason including fire, vandalism, flood, earthquake, or act of God, the risk of loss
shall be on Seller. If property is destroyed or substantially damaged before the closing date, the
Purchase Agreement shall become null and void, at Buyer's option, and earnest money shall be
refunded to Buyer; Buyer and Seller agree to sign cancellation of Purchase Agreement.
12. Time of Essence
Time is of the essence in this Purchase Agreement.
13. Acceptance
Seller understands and agrees that this Purchase Agreement is subject to acceptance by
Buyer in writing.
14. Environmental Concerns
To the best of the Seller's knowledge there are no hazardous substances, underground
storage tanks, or wells except herein noted:
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15. Well Disclosure
Buyer acknowledge receipt of a well disclosure statement fi:om Seller attached as Exhibit
A to this Agreement.
16. Individual Sewage Treatment System Disclosure
Seller discloses that there is not an individual sewage treatment system on or serving the
Property.
17. As-Is-Basis
It is specifically agreed that the Real Property is being conveyed to the Buyer by the
Seller in "As-Is Condition" ("with all faults').
18. Right of Ent~
Buyer is duly authorized agents shall have the right during the period from the date of
this Agreement to closing, to enter in and upon the Premises in order to make, at Purchaser's
expense, surveys, measurements, wetlands delineations, soil tests, and other tests that Buyer shall
deem necessary. Buyer agrees to restore any resulting damage to the Premises and to indemnify,
hold harmless and defend Seller fi:om any and all claims by third persons of any nature
whatsoever arising from Buyer's right of entry hereunder, including all actions, suits,
proceedings, demands, assessments, costs, expenses and attorney's fees.
19. Brokers Commissions
In the event Seller has retained the services of any agent, person, corporation or firm to
assist in the sale of the property who, in mm, is entitled to a commission by reason of this
Agreement and the closing hereunder, Seller hereby agrees to indemnify and hold Buyer
harmless fi:om any liability arising therefrom.
20. Entire Agreement
This Purchase Agreement, any attached exhibits and any addenda or amendments signed
by the parties, shall constitute the entire agreement between Seller and Buyer, and supersedes
any other written or oral agreements between Seller and Buyer. This Purchase Agreement can be
modified only in writing signed by Seller and Buyer and is contingent upon the execution and
passage of all necessary City and State requirements.
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21. Incidental Expenses
All expenses of examination of title, transfer tax, closing fees will be paid by the Buyer.
Any cost incurred to remove any cloud on the title to convey a good and marketable title to said
premised subject shall be the responsibility of the Seller.
22. Building Restriction
The Buyer agrees to construct an Industrial Building with a minimum footprint of fifteen
thousand square feet meeting all City building and Zoning Ordinance requirements.
Construction shall be completed by December 31, 2003.
The undersigned, owner of the above land, does hereby approve the above agreement and the
sale thereby made.
SELLER:
. alter R. Fehst, (Jify Managej'~,
~/~ulienae Wycko?f/- Mayor
City of Colum. bia Height9
I hereby agree to purchase the said property for the price and upon the terms above mentioned,
and subject to all conditions herein expressed]/.~./]Z~~.~_.~.~
BUYERS:
FINAL ACCEPTANCE DATE OF PURCHASE AGREEMENT:
H:~4emos2002~Purcha~e Agreement 3929 California St.