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HomeMy WebLinkAbout2016-2756.02PURCHASE AND REDEVELOPMENT AGREEMENT 4636 Polk Street NE, Columbia Heights, Minnesota 1. Parties. This Purchase and Redevelopment Agreement is made as of ItAVOW4 144, 5 2016, between the COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, a public body corporate and politic under the laws of Minnesota having its office located at 590 40TH Avenue NE, Columbia Heights, MN (the Seller "'), and TOLLBERG HOMES, LL,C, a Minnesota limited liability company, having its principal office at 1428 51h Avenue, Anoka, MN 55303 (the "Buyer") (the Agreement"), 2. Offer/Acceptance. Buyer, offers to purchase and Seller agrees to sell real property in Anoka County, Minnesota, legally described as follows (the "Property"): Lot Five (5), except the North thirty-five (3 5) feet thereof, all of Lot Six (6), and the North One-half of Lot Seven (7), in Block 2, Sheffield's, Second Subdivision. Check here ifparl or all ofthe land is Registered (forrens) 0 3. Acceptance Deadline. This offer to purchase, unless accepted sooner, shall be null and void at 4:30 p.m. on January 18, 2016 , which is 14 days after Seller authorized the sale. 4. Price and Terms. The price for the Property is $22,500.00 ("Purchase Price") which Buyer shall pay as follows: earnest money of $2,000 by check, receipt of which is hereby acknowledged by Seller. The balance of the Purchase Price must be paid by certified check or wire transfer on the Date of Closing. The "Date of Closing" shall be no later than July 15, 2016. 5. Personal Property Included in Sale. There are no items of personal property or fixtures owned by Seller and currently located on the Property for purposes of this sale. 6. Deed. Upon performance by Buyer, Seller shall deliver a quit claim deed conveying title to the Property to Buyer, in substantially the form attached as Exhibit A, subjiect to the 473277YI CL205-57 conditions subsequent required by Sections 15, 16, and 17 of this Agreement (the Deed"), 7. Real Estate Taxes and Special Assessments. A. Seller shall pay, at or before closing all real estate taxes due and payable in 2015 and prior years. Seller warrants that the Property is classified as Exempt for real estate taxes due and payable in 2016. B. Seller shall pay on Date of Closing all special assessments levied against the Property as of the date of this agreement, including those certified for payment in 2016, Seller represents that there are no special assessments pending as of the date of this agreement, If a special assessment becomes pending after the date of this agreement and before the Date of Closing, Buyer may, as Buyer's option: Assume payment of the pending special assessment without adjustment to the purchase agreement price of the property; or 2. Require Seller to pay the pending special assessment and Buyer shall pay a commensurate increase in the purchase price of the Property, which increase shall be the same as the estimated amount of the assessment; or 3. Declare this agreement null and void by notice to Seller, and earnest money shall be refunded to Buyer. 8'. Closing Costs and Related Iterns.'The Buyer will pay: (a) the closing fees charged by the title insurance or other closing agent, if any, utilized to close the transaction contemplated by this Agreement; (r) fees for title evidence obtained by Buyer; (c) the recording fees for this Agreement and for the Deed transferring title to Buyer. Seller will pay all other fees normally paid by sellers, including (a) any transfer taxes, and Well Disclosure fees required to enable Buyer to record its deed from Seller under this Agreement, and (b) fees and charges related to the filing of any instrument required to make title marketable. Each party shall pay its own attorney fees. 9. Sewer and Water. Seller warrants that city sewer is available at the Property line, and that city water is available in the right of way adjacent to the Property. Seller makes no warranty regarding the conditions of any existing water stub from the main to the Property line. Seller advises Buyer to inspect the condition of the water stub. 10. Condition of Property. Buyer acknowledges that they have inspected or have had the opportunity to inspect the Property and agree to accept the Property "AS IS." Buyer has the right, at its own expense to take soil samples for the purpose of determining if the soil is suitable for construction of the dwelling described in section 14 below. If the soil is determined to be unacceptable the Buyer may rescind this agreement by written notice to 2 4732770 C1,205-57 the Seller, in which case the agreement shall be null and void and all earnest money paid hereunder shall be refunded to the Buyer. Seller makes, no warranties as to the condition of the Property. 11. Marketability of Title. As soon as reasonably possible after execution of this Agreement by both parties, a) Seller shall surrender any abstract of title and a copy of any owner's title insurance policy for the property, if in Seller's possession or control, to Buyer or to Buyer's designated title service provider; and b) Buyer shall obtain the title evidence determined necessary or desirable by Buyer. The Buyer shall have 20 days from the date it receives such title evidence to raise any objections to title it may have. Objections not made within such time will be deemed waived, The Seller shall have 90 days from the date of such objection to affect a cure; provided, however, that Seller shall have no obligation to cure any objections, and may inform Buyer of such. The Buyer may then elect to close notwithstanding the uncured objections or declare this Agreement null and void, and the parties will thereby be released from any further obligation hereunder. 12. Title Clearance and Remedies. If Seller shall fail to have title objections timely removed, the Buyer may, at its sole election: (a) terminate this Agreement without any liability on its part; in which event the earnest money shall be promptly refunded in exchange for a quit claim deed to the Property from Buyer; or (b) take title to the Property subject to such objections. If title is marketable, or is made marketable as provided herein, and Buyer defaults in any of the agreements herein, Seller may elect either of the following, options, as permitted by law: A. Cancel this contract as provided by statute and retain all payments made hereunder as liquidated damages. The parties acknowledge their intention that any note given pursuant to this contract is a down payment note, and may be presented for payment notwithstanding cancellation; B. Seek specific performance within six months after such right of action arises, including costs and reasonable attorney's fees, as permitted by law. If title is marketable, or is made marketable as provided herein, and Seller defaults in any of the agreements herein, Buyer may, as permitted by law: C. Seek damages from Seller including costs and reasonable attorney's fees; 3 473277vt CL205-57 D. Seek specific performance within six months after such right of action arises. 13. Well Disclosure. Seller's knowledge of wells is as follows; 0 The Seller certifies that the Seller does not know of any wells on the described real property. 0 A well disclosure certificate accompanies this document, 1 airy familiar with the property described in this instrument and I certify that the status and number of wells on the Property have not changed since the last previously filed well disclosure certificate. 14. Individual Sewage Treatment System Disclosure. Seller certifies that there is no individual sewage treatment system on or serving the Property, 15. Construction and Sale of Dwelling. Buyer agrees, that it will construct a new single family dwelling on the Property, intended for sale to a person or persons for residential occupancy (an "Owner Occupant"). This covenant shall survive the delivery of the Deed. A, The single family dwelling described in this Section is referred to as the Minimum Improvements." B. The Minimum Improvements shall consist of a new single family dwelling, and shall be constructed substantially in accordance with the Single Family Home Lot Sales Program Guidelines on file at City Hall and the proposal approved by Seller on December 7, 2,015, attached hereto as Exhibit B. C. Construction of the Minimum Improvements must be substantially completed within one year from the Date of Closing. Construction will be considered substantially complete when the final certificate of occupancy has been issued by the City of Columbia Heights building official. D. Promptly after substantial completion of the Minimum Improvements in accordance with those provisions of the Agreement relating solely to the obligations of the Buyer to construct such Minimum Improvements (including the date for completion thereof), the Seller will furnish the Buyer with a Certificate of Completion, in the form attached hereto as Exhibit C, for such improvements. Such certification by the Seller shall be (and it shall be so provided in the Deed and in the certification itself) a conclusive: determination of satisfaction and termination of the agreements and covenants in the Agreement and in the Deed with respect to the obligations of the Buyer and its successors and assigns, to construct the Minimum Improvements, and the dates for completion 'thereof. The certificate provided for in this Section of this Agreement shall be in such form as will enable it to be recorded in the proper office for the recordation of deeds and other instruments pertaining to the Property, If the Seller shall refuse or 4 473277v CL205-57 fail to provide any certification in accordance with the provisions of this Section, the Seller shall, within thirty (30) days after written request by the Buyer, provide the Buyer with a written statement, indicating in adequate detail in what respects the Buyer has failed to complete the Minimum inprovements in accordance with the provisions of the Agreement, or is otherwise in default, and what measures or' acts it will be necessary, in the opinion of the Seller for the Buyer to take or perform in order to obtain such certification., E. The Buyer represents and agrees that until issuance of the Certificate of Completion for the Minimum Improvements: 1) Except for any sale to an Owner Occupant, the Buyer has not made or created and will not make or create or suffer to be made or created any total or partial sale, assignment, conveyance, or lease, or any trust or power, or transfer in any other mode or form of or with respect to this Agreement or the Property or any part thereof or any interest therein, or any contract or agreement to do any of the same, to any person or entity (collectively, a "Transfer"), without the prior written approval of the Seller's board of commissioners. The term "Transfer" does not include encumbrances made or granted by way of security for, and only for, the purpose of obtaining construction, interim or permanent financing necessary to enable the Buyer or any successor in interest to the Property, or any part thereof, to construct the Minimum Improvements or component thereof. 2) If the Buyer seeks to effect a Transfer to any person or entity other than an Owner Occupant prior to issuance of the Certificate of Completion, the Seller shall be entitled to require as conditions to such Transfer that: i) any proposed transferee shall have the qualifications and financial responsibility, in the reasonable judgment of the Seller, necessary and adequate to fulfill the obligations undertaken in this Agreement by the Buyer as to the portion of the Property to be transferred; and ii) Any proposed transferee, by instrument in writing satisfactory to the Seller and in form recordable in the public land records of Anoka County,, Minnesota, shall, for itself and its successors and assigns, and expressly for the benefit of the Seller, have expressly assumed all of the obligations of the Buyer under this Agreement as to the portion of the Property to be transferred and agreed to be subject to all the conditions and restrictions to which the Buyer is subject as to such portion; provided, however, that the fact that any transferee of or any other successor in interest whatsoever to, the Property, or any part thereof, shall not, for whatever reason, have assumed such obligations or so agreed, and shall not (unless and only to the extent otherwise specifically provided in this Agreement or agreed to in writing by the Seller) deprive the Seller of any rights or remedies or controls with respect to the Property, the 5 473277VI CL205-57 Minimum Improvements or any part thereof or the construction of the Minimum Improvements; it being the intent of the parties, as expressed in this Agreement that (to the fullest extent permitted at law and in equity and excepting only in the manner and to the extent specifically provided otherwise in this Agreement) no transfer of, or change with respect to, ownership in the Property or any part thereof, or any interest therein, however consummated or occurring, and whether voluntary or involuntary, shall operate, legally, or practically, to deprive or limit the Seller of or with respect to any rights or remedies, on controls provided in or resulting from this Agreement with respect to the Property that the Seller would have had, had there been no such transfer or change. In the absence of specific written agreement by the Seller to the contrary, no such transfer or approval by the Seller thereof shall be deemed to relieve the Buyer, or any other party bound in any way by this Agreement or otherwise with respect to the Property, from any of its obligations with respect thereto. iii) Any and all instruments and other legal documents involved in effecting the transfer of any interest in this Agreement or the Property governed by this subsection E. shall be in a form reasonably satisfactory to the Seller. 3) If the conditions described in paragraph (2) above are satisfied then the Transfer will be approved and the Buyer shall be released from its obligation under this Agreement, as to the portion of the Property that is transferred, assigned, or otherwise conveyed. The provisions of this paragraph (3) apply to all subsequent transferors. 4) Upon issuance of the Certificate of Completion, the Buyer may Transfer the Property and/or the Buyer's rights and obligations under this Agreement with respect to such Property without the prior written consent of the Seller. F. The Buyer, and its successors and assigns, agree that they (a) will use the Minimum Improvements only as a single family dwelling, and in the case of an Owner Occupant, will occupy the Property as a residence, (b) will not rent the Property to any person or entity, (c) will not seek exemption from real estate taxes on the Property under State law, and (d) will not transfer or permit transfer of the Property to any entity whose ownership or operation of the Property would result in the Property being exempt from real estate taxes under State law (other than any portion thereof dedicated or conveyed to the City of Columbia Heights or Seller in accordance with this Agreement). The covenants in this paragraph run with the land, survive both delivery of the Deed and issuance of the Certificate of Completion for the Minimum Improvements, and shall remain in effect for ten years after the Date of Closing. 6 47327'7v] CL205-57 16. Revesting Title in Seller upon Happening of Event Subsequent to Conveyance to Buyer. In the event that subsequent to conveyance of the Property or any pail thereof to the Buyer and prior to receipt by the Buyer of the Certificate of Completion for of the Minimum Improvements, the Buyer, subject to Unavoidable Delays (as hereafter defined), fails, to carry out its obligations, with respect to the construction of the Minimum Improvements including the nature and the date for the completion thereof, or abandons or substantially suspends construction work, and any such failure, abandonment, or suspension shall not be cured, ended, or remedied within thirty (30) days after written demand from the Seller to the Buyer to do so, then the Seller shall have the right to re-enter and take possession of the Property and to terminate (and revest in the Seller) the estate conveyed by the Deed to the Buyer, it being the intent of this provision, together with other provisions of the Agreement, that the conveyance of the Property to the Buyer shall be made upon, and that the Deed shall contain a condition subsequent to the effect that in the event of any default on the part of the Buyer and failure on the part of the Buyer to remedy, end, or abrogate such default within the period and in the manner stated in such subdivisions, the Seller at its option may declare a termination in favor of the Seller of the title, and of all the rights and interests in and to the Property conveyed to the Buyer, and that such title and all rights and interests of the Buyer, and any assigns or successors in interest to and in the Property, shall revert to the Seller, but only if the events, stated in this Section have not been cured within the time periods provided above. Notwithstanding anything to the contrary contained in this Section, the Seller shall have no right to reenter or retake title to and possession of a portion of the Property for which a Certificate of Completion has been issued. For the purposes of this Agreement,, the term "'Unavoidable Delays" means delays beyond the reasonable control of the Buyer as a result thereof which are the direct result of strikes, other labor troubles, prolonged adverse weather or acts of God, fire or other casualty to the Minimum Improvements, litigation commenced by third parties which, by injunction or other similar judicial action, directly results in delays, or acts of any federal, state or local governmental unit (other than the Seller in exercising its rights under this Agreement) which directly results in delays. Unavoidable Delays shall not include delays in the Buyer's obtaining of permits or governmental approvals, necessary to enable construction of the Minimum Improvements by the dates such construction is required under this section of this Agreement. 17. Resale of Reacquired Prop"; Disposition of Proceeds. Upon the reves,ting in the Seller of title to and/or possession of the Property or any part thereof as provided in Section 16, the Seller shall apply the purchase price paid by the Buyer under Section 4 of this Agreement as follows: a) First, to reimburse the Seller for all costs and expenses incurred by the Seller, including but not limited to proportionate salaries of personnel, in connection with the recapture, management, and resale of the Property or part thereof (but less any 7 4732770 C1.205-57 income derived by the Seller from the Property or part thereof in connection with such management); all taxes,, assessments, and water and sewer charges with respect to the Property or part thereof (or, in the event the Property is exempt from taxation or assessment or such charge during the period of ownership thereof by the Seller, an amount, if paid, equal to such taxes, assessments, or charges (as determined by the Seller assessing official) as would have been payable if the Property were not so exempt); any payments made or necessary to be made to discharge any encumbrances or liens existing on the Property or part thereof at the time of revesting of title thereto in the Seller or to discharge or prevent from attaching or being made any subsequent encumbrances or liens due to obligations, defaults or acts of the Buyer, its successors or transferees; any expenditures made or obligations, incurred with respect to the making or completion of the Minimum Improvements or any part thereof on the Property or part thereof, and any amounts otherwise owing the Seller by the Buyer and its successor or transferee; and b) Second, to reimburse the Buyer for the balance of the purchase price remaining after the reimbursements specified in paragraph (a) above, Such reimbursement shall be paid to the Buyer upon delivery of an executed, recordable warranty deed to the Property by the Buyer to the Seller. 18. Time is of the essence for all provisions of this contract, 19. Notices, All notices required herein shall be in writing and delivered personally or mailed to the address shown at paragraph I above and, if mailed, are effective as of the date of mailing. 20. Minnesota Law. This contract shall be governed by the laws of the State of Minnesota, 21. Specific Performance. This Agreement may be specifically enforced by the parties, provided that an action is brought within one year of the date of alleged breach of this Agreement. 22. No Remedy Exclusive. No remedy herein conferred upon or reserved to the Seller or Buyer is intended to be exclusive of any other available remedy or remedies, but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient. 23. No Merger of Representations, Warranties. All representations and warranties contained in this Purchase Agreement shall not be merged into any instruments or conveyance delivered at closing, and the parties shall be bound accordingly. 473277v1 CL205-57 24. Recording. This Agreement shall be filed of record with the Anoka County Registrar of Titles or Of of Recorder, as the case may be. Buyer shall pay all recording costs. 25. No Broker Involved. The Seller and represent and warrant to each other that there is no broker involved, in this transaction with whom it has negotiated or to whom it has agreed to pay a broker commission. Buyer agrees to indemnify Seller for any and all claims for brokerage commissions or finders' fees in connection with negotiations for purchase of the Property arising out of any alleged agreement or commitment or negotiation by Buyer, and Seller agrees to indemnify Buyer for any and all claims for brokerage commissions of finders' fees in connection with negotiations for purchase of the Property arising out of any alleged agreement or commitment or negotiation by Seller. In witness of the foregoing, the parties, have executed this agreement on the year and date written above, SELLER: COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY By: By: Its President Its Executive Director 11. ..11109TINUVIM10*11921M I ss. The foregoing, was acknowledged before me this day of 2016, by and , the President and Executive Director of Columbia Heights Economic Development Authority, a public body corporate and politic under the laws of Minnesota, on behalf of the public body corporate and politic. Notary Public 9 473277vi CL205-57 0D1111-m-twa =I- l a r ICS Lin STATE OF MINNESOTA ss' COUNTY OF AirKA The foregoing was acknowledged before me this day of 2016, by Wade Tollefson, the President and Chief Manager of Tollherg Homes, LLC, a Minnesota limited liability company, on behalf of the limited liability company. This document drafted by: Kennedy & Graven, Chartered 470 U.S. Bank Plaza 200 So. 6h Street H 473277vl C1.205-57 Notary Public EXHIBIT A to P'IJRCHASE.4,,V&TEtt-Y Wi,iENT'AGRF,EMENCi Deed Tax Due: $ THIS INDENTURE, between the Columbia Heights Economic Development Authority, a Minnesota, a public body corporate and politic (the "Grantor"), and a Minnesota (the "Grante'e"), WITNESSETH, that Grantor, in consideration of the sum of $ —_ and other good and valuable consideration the receipt whereof is hereby acknowledged, does hereby grant, bargain, quitclaim and convey to the Grantee, its successors, and assigns forever, all the tract or parcel of land lying and being in the County of Anoka and State of Minnesota described as follows, to-wit (such tract or parcel of land is hereinafter referred to as the "Property"): Check here ifpart or all ofthe land is Registered (Torrens) 13 To have and to h'old the same, together with all the hereditaments and appurtenances thereunto belonging. SECTION 1. It is understood and agreed that this Deed is subject to the covenants, conditions, restrictions and provisions of an agreement recorded herewith entered into between the Grantor and Grantee on the — of 1 20_, identified as "Purchase and Redevelopment Agreement" (hereafter referred to as the "Agreement") and that the Grantee shall not convey this Property, or any part thereof, except as permitted by the Agreement until a certificate of completion releasing the Grantee from certain obligations of said Agreement as to this Property or such part thereof then to be conveyed, has been placed of record. This provision, however, shall in no way prevent the Grantee from mortgaging this Property in order to obtain funds for the purchase of the Property hereby conveyed or for erecting the Minimum Improvements thereon (as defined in the Agreement) in conformity with the Agreement, any applicable development program and applicable provisions of the zoning ordinance of the City of Columbia Heights, Minnesota, or for the refinancing of the same. It is specifically agreed that the Grantee shall promptly begin and diligently prosecute to completion the redevelopment of the Property through the construction of the Minimum Improvements thereon, as provided in the Agreement. 4732770 CL205-57 Promptly after completion of the Minimum Improvements in accordance with the provisions of the Agreement, the Grantor will furnish the Grantee with an appropriate instrument so certifying. Such certification by the Grantor shall be (and it shall be so provided in the certification itself) a conclusive determination of satisfaction and termination of the agreements and covenants of the Agreement and of this Deed with respect to the obligation of the Grantee, and its successors and assigns, to construct the Minimum Improvements and the dates for the beginning and completion thereof. Such certification and such determination shall not constitute evidence of compliance with or satisfaction of any obligation of the Grantee to any holder of a mortgage, or any insurer of a mortgage, securing money loaned to finance the purchase of the Property hereby conveyed or the Minimum Improvements, or any part thereof. All certifications provided for herein shall be in such form as will enable them to be recorded with the County Recorder, or Registrar of Titles, Anoka County, Minnesota. If the Grantor shall refuse or fail to provide any such certification in accordance with the provisions of the Agreement and this Deed, the Grantor shall, within thirty (30), days after written request by the Grantee, provide the Grantee with a written statement indicating in adequate detail in what respects the Grantee has failed to complete the Minimum Improvements in accordance with the provisions of the Agreement or is otherwise in default, and what measures or acts it will be necessary, in the opinion of the Grantor, for the Grantee to take or perform in order to obtain such certification. 1161el" The Grantee's rights and interest in the Property are subject to the terms and conditions of Sections, 15, 16 and 17' of the Agreement relating to the Grantor's right to re-enter and revert in Grantor title to the Property under conditions specified therein, including but not limited to termination of such right upon issuance of a Certificate of Completion as defined in the Agreement. SECTION 3. The Grantee agrees for itself and its successors and assigns to or of the Property or any part thereof, hereinbefore described, that the Grantee and such successors and assigns shall comply with Section 15F of the Agreement for a period of ten years after the date hereof. , It is intended and agreed that the above and foregoing agreements, and covenants shall be covenants running with the land for the respective terms herein provided, and that they shall, in any event, and without regard to technical classification or designation, legal or otherwise, and except only as otherwise specifically provided in this Deed, be binding, to the fullest extent permitted by law and equity for the benefit and in favor of, and enforceable by, the Grantor against the Grantee, its successors and assigns, and every successor in interest to the Property, or any part thereof or any interest therein, and any party in possession or occupancy of the Property or any part thereof. 473277vi CL205-57 In amplification, and not in restriction of, the provisions of the preceding section, it is intended and agreed that the Grantor shall be deemed a beneficiary of the agreements, and covenants provided herein, both for and in its own right, and also for the purposes of protecting the interest of the community and the other parties, public or private, in whose favor or for whose benefit these agreements and covenants have been provided. Such agreements and covenants shall run in favor of the Grantor without regard to whether the Grantor has at any time been, remains, or is an owner of any land or interest therein to, or in favor of, which such agreements and covenants relate. The Grantor shall have the right, in the event of any breach of any such agreement or covenant to exercise all the rights and remedies, and to maintain any actions or suits at law or in equity or other proper proceedings to enforce the curing of such breach of agreement or covenant, to which it or any other beneficiaries of such agreement or covenant may be entitled; provided that Grantor shall not have any right to re-enter the Property or revert in the Grantor the estate conveyed by this Deed on grounds of Grantee's failure to comply with its obligations under this Section 3. IN WITNESS WHEREOF, the Grantor has caused this Deed to be duly executed in its behalf by its President and Executive Director, this — day of 20 0 The Seller certifies that the Seller does not know of any wells on the described real property. A well disclosure certificate accompanies, this, document or has been electronically filed. (if electronically filed, insert WDC number: 0 1 am familiar with the property described in this instrument and I certify that the status, and number of wells on the described real property have not changed since the last previously filed well disclosure certificate, 4732770 CL20s -57 COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY By Its President By Its Executive Director STATE OF MfNNESOT'A ss COUNTY OF ANOKA On this day of , 20_, before me, a notary public within and for County, personally appeared— and to me personally known who by me duly sworn, did say that they are the President and Executive Director of the Columbia Heights Economic Development Authority (the "Authority") named in the foregoing, instrument; that said instrument was signed on behalf of said Authority pursuant to a resolution of its governing body; and said — and acknowledged said instrument to be the free act and deed of said Authority. This instrument was drafted by: Kennedy & Graven, Charted 470 U.S. Bank Plaza 200 South Sixth Street Minneapolis, MN 55402 612) 337-9300 473277vl CL205.57 Notary Public Tax Statements should be sent tw f„+1.11 Y 3 01 473277vt CL205 -57 590 40" A e!nue NE Columbia Heights, MNB 554,21 RE: Proposal for Economic Development Administration 5 Lots on Polk St, NE and I lot on Tyler St. NE 4606 Polk St. Nl 46 36 Polk St. NE 4600 Polk St. NE •648 Rolk St. NE 4618 Polk St. NE 4641 Tyler St. NE Tollberg Homes LLC is an Anoka builder specializing in the construction of homes from $189,,000 to $499,000, Tollberg Homes is located at 1428 5t Avenue, Anoka, MN 55303, Tollberg Homes builds approximately 50 homes each year. Tollberg Homes LLC is an award winning builder. Tollberg Homes has not only won the Home Award in North Dakota in 2015, but has recently won a 2015 Reggie Award in Minnesota.. We currently have models and are building in Blaine, Anoka, Crystal, Coon Rapids and Lino Lakes. If you would like to visit our models we certainly can provide addresses and lock box numbers. We have financial strength to purchase these six lots and close on them when ready and to construct on all five lots. A commitment letter can be provided upon request. Tollberg Homes, LLC is a specialist in building in inner communities. We would refer you to Mr, Erik Thorvig, Economic Development Manager in Anoka as a reference as Tollberg Homes LLC has just purchased, constructed and sold four houses on lots purchased from the Economic Development Administration of Anoka in 2015. You will see enclosed recent pictures of these houses. We would also like to refer you to the Economic Development Manager in Crystal where Tollberg Homes LLC: has in 2015 purchased, built and sold three houses in Crystal, you will also find enclosed recent pictures of these houses. In addition please refer to the Economic Development Manager in Coon Rapids where Tollberg Homes LLC: has purchased, built and sold a house in 2015 in Coon Rapids. A recent picture is enclosed. It is our intent to construct on all 6 properties in Columbia Heights as quickly as possible, We have a full time realtor that sells for Tollberg Homes exclusively, We would hope to purchase the land and close as time and weather permits. 120 days is our normal completion time frame to construct a home so we anticipate that we will have the first two houses built and sold within the first six months from purchase. We would then start the next two. Again with the 120 day construction period, we would think that these two properties would be finished by summer of 2016, At that time Toliberg Homes would close, and construct the final two properties. By the late summer of 2016 Tollberg Homes would have purchased, closed and built on all 6 lots. Enclosed you, will find Tollberg Homes LLC offer as well as a sample blueprint and a sample of specifications for the houses we intend to build, It is Toilberg's intention to finish the complete upper level and to make compliance with the EDA guidelines will finish one bedroom and one bathroom in the lower level. The reason is that it is imperative for us (or anybody) to be able to compete with the current structure of pricing of other properties in the neighborhood. Please note that this is a mixed' use area with lower priced properties and apartment buildings as the neighbors. The potential houses to be built have to stay within reason of the current pricing, or they would be unable, to be sold. It would be unrealistic for anyone to think that the final purchase price of the new houses would exceed $199,000. In order for Tollberg (or anyone else) to produce properties in that price range these covenants and lot prices described in our offer have to be met. We strongly encourage you to consider this offer. We have a track record with Economic Development Authorities, and can perform. We thank you for the opportunity to offer a proposal on these lots and would request that if you have any questions , please feel free to contact the undersigned. Very truly yours, Wade Tollefson President Tollberg Homes LLC GO: 612-804-9988 2 N L Job Address. Legal': !iec,;l des Doti Buver Information; Modei New Home Spec Sheet Buyer 2 Narrv2j i,uyer 1. Phione) BWWUar 2 Phone! i ver I Einad, [Buyer 2 Email) Buyer Aeent Info: Plan Info: I I Split level 142 est!sq ft r-18a,sement Finished) Basement: 91-ookout OWalkout E)Full Utilities: Garage: DRight 0 Left ZCity Water/Sewe r ElWell/SepticIEIRuralWater/Septic By signing below (or by electronic approval on BuilderTrend), Buyer approves and accepts specifications as written. These specifications supersede finish notes on the house plans UNLESS Tollberg tomes has specifically added red line notes to the plan. Any change to these specifications is subject to $150 Change Order fee in addition to the cost of the change. A requested change is not guaranteed until a signed Change Order is on file. Buyer is aware that any item discussed between Buyer and Builder, or representative of the Builder, that has not been detailed on the approved House plans, Spec Sheet, or Change Order will not be included in construction. It Is the responsibility of the Buyer to check and confirm that all desired changes have been detailed on the House plans, Spec Sheet, or Change Order. Buyer. Buyer: Dote: Dote: Fireplace., lyes OW, CSL550 l'S1 7S0 CiEnd wJall C1 Corner C7lntenor ®Oog douse ? Flus'h hearth Raised hearth Jcn o rr e GiStone to ceiing tond mantleEIRenoteElCerarnictheface Plumbing: drarr Mu $e Standard Package 0Allowance, data J iMfaxster5horver: 11"i "e6"3" CerarnicTile tMmterFteaser d 50 Gal Electrrc O50 Gal P werwent Dora FFaorl7raFrar (] yes I t'c 06arbage Disposal 01" Maker ldne 0Sprnklerline 0Wet Gar 00undryTub OSI'O Pump ° rump Basket i4!r$e5: (Motesr Electrical. ervF>~e: X1150 F late Covers: OWhite C Almond' Recessed Lights; 4 Lighting: OStandard Package SDoorChirne OftirlpcolTub SCentralAar Cyrumppump OAdrExchanger gHotWaterHeater OWell Offi floor heat ©Humidifier Mone controls XMcrowavedrcuit SRan a ORan&, Hood CCocktop IRGarbage Odsposal ZMshwasher )` Refrigerator ClWall Oven MOryer GCejkng, Fan di ,! 1 1 0 Bath Fan (2) Z'Phone(2y MCable {2 Notes: [NaateSl interior Finish.. Trim Fym Swhlte MDF SPrefinished Poplar Casing Style., Z2.1/4' Princeton 03-1/4" Princeton 00ther: ;det Hs] 34.1/4 " Princeton itariisyster . IPo lar ®6Q1p Handrail CiSkirtboard CICap Board (for half wall) D Square Poplar Baluster DMlatte Black Aluminum Baluster DSquare Poplar Newel OPoplar Box Newel trrterlorpoors: OHolloww core, White 00ther: (detai8s? 03 panel, -flit I t ilslel, raIseteiiardaare; ERSatin Nickel ®other Idetpilsl aapre meolaher: ww/ ng: _ wood rod panel ECeramd panelp match) C«7CerarnicTile Baekspl'ashtheCantrtop: (Laminate OGrraniteer ISIStandard BaCksplashh (to match) Both Caauntertop. OW'hlte Marble SLaminate C3Granite L3Granite Paint: OStandard Flat OEggshell /Satln (1 ) Colors mirrvrs: 94V' Height X Vanity Width Carpet., IgTollberg Standard C3Allowwance (($ l) ESPBedroorns 01iwing Room ZHallway OStudy OStairs Ceramic Tile: C3iollberg Standard DAllowwance (( $)) OFoyer OMIST Bath 00ther Baths C3Mlud 3Laundry trinyi. OTollberg Standard DAllowvance ((S) X"chen ISDining ®Foyer ZBaths OILaundry OMlud Wood, Chaminate 01-lardww d Mofterg Standard DAllowance (( $ &) E3lKitchen ElDiningRoom ®Liw6ngRoom OMlud Foyer Notesl t otes1 Appliances: SIStandard Package DAUlowance: Q $1 Site Finish: Driveway. OConcrete SAsphalt tanrdscaper ZMac:hine Grade E. Allowwance: ($ ) CitySiaiewaiks IJYes NNo 1V/,AIOI I 7L1 I 11 i El 7- El tj AL IW T L k I V ) rr rJ m P 4, M ^i uuu .. M F YX ? t W m t ; tt k plr 4 a c c v x R mll"' FSA Eli 0", tom «« /yam ?\ h,k N T, E AL a 19 to PURCHASE AND REDEVELOPMENT AGREEMENT 473277vl CL205-57 WHEREAS, the Columbia Heights Economic Development Authority, a public body, corporate and politic (the "Grantor"), conveyed land in Anoka County, Minnesota to a _ (the "Grantee"), by a Deed recorded in the Office of the County Recorder [and in the Office, of the Registrar of Titles] in and for the County of Anoka and State of Minnesota, as, Document Numbers and respectively; and WHEREAS, said Deed contained certain covenants and restrictions set forth in Sections I and 2 of said Deed; and WHEREAS, said Grantee has performed said covenants and conditions insofar as it is able in a manner deemed sufficient by the Grantor to permit the execution and recording of this certification; NOW, THEREFORE, this is to certify that all building construction and other physical improvements specified to be done and made by the Grantee have been completed and the above covenants and conditions in said Deed and the agreements, and covenants in Sections 14A and 14E of the Agreement (as described in said Deed) have been performed by the Grantee therein, and the County Recorder [and the Registrar of Titles] in and for the County of Anoka and State of Minnesota are hereby authorized to accept for recording and to record, the filing of this instrument, to be a conclusive determination of the satisfactory termination of the covenants and conditions of Sections 15A and 15E of the Agreement and the covenants and restrictions set forth in Sections I and 2 of said Deed; provided that the covenants set forth in Sections 151M of the Agreement, and in Section 3 of the Deed, remain in full force and effect through the period stated thereon. Dated. 20 COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY By Its President By. Its Executive Director 473277v] CL205-57 STATE OF MINNESOTA ss COUNTY OF ANOKA 20 The: foregoing instrument was acknowledged before me this day of by and the President and Executive Director, respectively, of the Columbia Heights Economic -Development Authority, on behalf of the authority. OEM%= This document d by KENNEDY & GRAVEN, CHARTERE* 470 U.S. Bank Plaza Minneapolis, MN 515402 612) 337-9300 473277v1 CL205-57