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HomeMy WebLinkAboutContract 1530Address: 3855 Main Street N.E. Columbia Heights, MN PIN # 35-3024-330059 Project: Parcel: Page 1 of 6 REAL ESTATE SALE/PURCHASE AGREEMENT THIS AGREEMENT, made as of the ?-~°~day of ~1"~ I ¥ ,2000, by and between ~ott-'l: ff.. C_o ~,,e,_ ., hereinafter referred to as Seller, and the City of Columbia Heights, a municipal corporation, hereinafter referred to as Buyer. WITNESSETH: WHEREAS, Seller owns certain real estate situated at 3855 Main Street N.E., 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 fights, 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: Lot 2.9 Block 80, Columbia Heights Annex to Minneapolis, Anoka County Minnesota Page 2 of 6 2. Purchase Price The purchase price for the subject property shall be the sum of Fifty Four Thousand and 00/100 Dollars ($54,000) payable at closing. ~ after signing of the Purchase Agreement by the Seller. 4. Closing /~,~~ ~'~ The closing shall be on or before August ~ 2000, or within 30 days after all title objections have been satisfied by the Seller, if any have been made by the Buyer. Contingency This offer is contingent upon approval by the Columbia Heights City Council for a period 5. Possession The Seller further agrees to deliver possession not later than August 18, 2000, 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) b) c) d) e) Building and zoning laws, 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) 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 Page 3 of 6 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 fail 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; (b) 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. 9. Special Assessment~ 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 buildings, are or will be, constructed entirely within the boundary lines of the property. Seller warrants that there is a right of access to the property fi.om a public right of way. These warranties shall survive the delivery of the deed or contract for deed. Seller warrants 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. Page 4 of 6 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, fight 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 rights 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, this 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 Essenc~ 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. Page 5 of 6 14. Environmental Concerns To the best of the Seller's knowledge there are no hazardous substances, underground storage tanks, or wells except herein noted: 15. Well Disclosure Buyer acknowledges receipt of a well disclosure statement from 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. 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 Entry. Buyer is duly authorized agents shall have the fight 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, wetland 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 from 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 attorneys' fees. 19. Brokers Commissions In the event Seller has retained the services of any agent, person, corporation or finn to assist in the sale of the property who, in tmah is entitled to a commission by reason of this Agreement and the closing hereunder, Seller hereby agrees to indemnify and hold Buyer harmless from any liability arising therefrom. Page 6 of 6 21. Entire Allreement 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. 22. Incidental Expens es ~)q~C~/ · A. 11,?q~~examination of title, t~fer tax,Xl~paration and recojff'~'~d, ~ apprmsa~eJos~ng tees, l~t surveys, etc. wiJ~e paid by the BKver. Any cosVfncurred to reXfswve any resp . 23. Ineligible for Relocation Assistant,. ,t~ 2,9~.~ The Seller acknowledge that they have voluntarily entered this Purchase Agreement and, as such, acknowledge that the Sellers are not "displaced persons" as defined by The Uniform Real Property Acquisition and Relocation Act of 1970 as amended and M.S. 117.52 and hence the Sellers are not eligible for any relocation assistance or benefits (see Addendum "C", Waiver Agreement Regarding Relocation Benefits)· The undersigned, owner of the above land, does hereby approve the above agreement and the sale th ereby made. ~}~/~.z5/~ SELLER: '~--,~ 6- O O Bart E. Cole I hereby agree to purchase the said property for the price and upon the terms above mentioned, and subject to all conditions herein expressed. Walter F.~t- Cit~lumbia Heights Gary Petersot~ M~37~, ~2ity Of Columbia Heights FINAL ACCEPTANCE DATE OF PURCHASE AGREEMENT: H:hCorms~Purchase Agreement 1'8/28/1999 1~:i6 e12~8~e75 WILSON DEVELOP SERV Addendum "C" WAIVER AGREEMF.,NT REGARDING RF, L~A~ON BENEFITS ~, ~r is the f~ ~er of ~ ~ pmpe~ ~d ~pmvemen~ ~ ~den~ P~s I~d at 3 ~ K~ ~ ~, ~r Co~ of pmu~t ~ Minn~ S~m~ No. 117.52 and ~e U~m ~~n ~~ ~d ~ Pm~ ~i~n Poh~e ~, 42 U.S.C. No. ~21 et seq., ~e~~ ~md as ~~ ~9 ~ the ~k ~ ~t~ W a~t ~ the ~I~a~on of~e I. ~b~m~ of M~o You m~ ch~ ~n ~er a p~ent ~r yo~ a~ ~nable m~ ~d mlat~ ~s or a ~ m~ey e~en~ ~d ~fion ~~. To e~ble ~u to b~ ~, ~u p~, ~nt a ~mp~ble ~ sm~ble ~p~nt home. to help the owner ~l~a~ m a ~mp~able de~ ~q~d ~ mo~e ~m the~ home. ~ t~ ~ :, ~ I ~ met ~ a '" ' .... "' ~eCi~, ~tthat ~. c~ot ~ ~d w .~ t~ pmp~ W ~e ~ ~ ~ ~ ~l~ed m me t~t ~e C I~ ~ ~ not acq~ ~e P~ ~m me, ~s I ~l~y enmr ~m ~e a~ment of ~e ~d ~o a~ w ~, I ha~ ~i~ ~d ~ad the pampMet "~l~on ~is~ to Displa~d Homers, ~-I~D) i.o/2e/i999 id:is 612~8~675 WILSON DEVELOP SERV P~GE I2 ~ pmpe~ ~ the~ ~ ttF ~ ~r~d the ba~e ~men~ of ~he U~rm ~ ~ ~C '~ c~ n~ ~ mq~d ~ ~ ~e h . ~e~ ~n ~ relation p~u~ ~ ~e~a ~a No. 117.~0 e~ ~. ~d ~ U~ ~l~fion ~e~ ~d ~ ~pe~ ~i~on Po~es A~ 42 U.g.C. ~o. 4621 eS ~q. Witne.~ SeHer 18/28/1999 14:18 812~B~B76 WILSON DEVELOP SERV PAGE WELL DI.~,OSUFIE STATEMENT GUIDEFORM NOTICE - Disclosures to Seller with Voluntary, Arm's Length Purchase Offer Dear Bart E. Cole: This is to inform you that the City of Columbia Heights would like to purchase the property located at 3855 Main Street N.E., Columbia Heights, if a satisfactory agreement can be reached. We are prepared to pay $54,000 for clear title to the property under the conditions described in the attached proposed contract of sale. Because Federal funds may be used in the purchase, however, we are required to disclose to you're the following information: The sale is voluntary_. If you do not wish to sell, the City of Columbia Heights will not acquire your property. The City of Columbia Heights will not use the power of eminent domain to acquire the property. 2. We estimate the fair market value of the property to be $55,300. Since the purchase would be a voluntary, arm's length transaction, you would not be eligible for relocation payments or other relocation assistance under the Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970 (URA), or any other law or regulation. Also, as indicated in the contract of sale, this offer is made on the condition that no tenant will be permitted to occupy the property before the sale is completed. Again, please understand that if you do not wish to sell your property, we will take no further action to acquire it. If you are willing to sell the property under the conditions described in the attached contract of sale, please sign the contract and return it to us. If you have any questions about this matter, please contact Randy Schumacher. His telephone number is 763-706-3675. Enclosure Sincerely, Comrn~~evelopment Assistant FILE #: TC- 96645 PURCHASER'S CLOSING STATRNr~P SELLERS: Bart E. Cole PURCHASERS: City of Columbia Heights PROPERTY: 3855 Main Street, Columbia Heights, MN 55421 29/80 Columbia Heights Annex, Anoka County, Minnesota DATE: August 15, 2000 Contract sales price County tax prorations 7/ 1/00 to 8/15/00 Title examination to Land Title, Inc. Title insurance policy to Land Title, Inc. Name Search to Land Title, Inc. Recording Fees to Anoka County Treasurer DEBIT 54,000.00 130.00 216.00 25.00 31.50 73.69 Sub-Totals Balance due to close $54,402.50 $73.69 54.328.81' Totals Accepted this 15th day of August 2000: S54.402.$Q City of Columbia Heights S54.402.50 *Please have certified or cashier's check made payable to Land Title, Inc. in the amount of $54,328.81. DATE: Augustl5,2000 TO: Randy Schumacher, Community Development Assistant, City of Columbia Heights, Minnesota FROM: Bart E. Cole Occupants at 3855 Main Street Based on our discussion at the signing of the purchase agreement on July 26, 2000 for the above stated property, I indicated that I, (Bar'lJ E. Cole) was the sole owner and resident at 3855 Main Street N.E., Columbia Heights, MN. In addition, I informed you that at the time I had some friends staying with me. The names of those individuals are as follows: Please be advised that they are not renters of this property and I am not receiving any rental fees for same. They have not stayed at my residence in excess of 90 days nor have listed my address as their permanent mailing address. I hope this clarifies any questions you may have relating to the residential status of those individuals listed above.