HomeMy WebLinkAbout2016-2756.04ILI
2. Offer/Acceptance. Buyer offers to purchase and Seller agrees to sell real property in
Anoka County, Minnesota, legally described as follows (the "Property"):
1',ot 14, except the north 30, feet thereof, and Lot 15, Block 2, Sheffield's Second
ubdivision.
Check here Jf,part or all of land is Registered (Torrens) 0
3. Acceptance Deadline. This offer to purchase, unless, accepted sooner, shall be null and
voiN at 4:30 pi.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 • $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.
k. Personal Property Included in Sale. There are no items of personal property or fixtur
owned by Seller and currently located on the Property for purposes of this sale, I
6. Deed. Upon performance b,y Buyer, Seller shall deliver a quit claim deed conveying title
to the Property to Buyer, in substantially t he form attached as Exhibit A, subject to the
473279vi CL205-59
conditions subsequent required by Sections 15, 16, and 17 of this Agreement (theDeed"),
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,
Seller shall pay on Date of Cl os ing all special assessments le!vied against the
Property as of the date of this agreement, including those certified r payment in2016, Seller represents that there are no special assessments pending as ofthedateofthisagreement. If a special assessment becomes pending after the date of
this agreement and before the Date of Closing, Buyer may, as Buyer's optiono
Assume payment of the pending special assessment without adjustment to
the purchase agreement price of the property; or
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
Declare this agreement null and void by notice to Seller, and earnest
money shall be refunded to Buyer,
Closing Costs and Related jr,,,,.,.
flie Buyer will pay: (a) the closing fees charged by thetitleinsuranceorotherclosing, agent, if any, utilized to close the transaction
contemplated by this Agreement; (b) 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, nonnally 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 ftom the main to the
Property line. Seller advises Buyer to inspect the condition of the water, stub,
M 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 it' the soilissuitableforconstructionof' the dwelling described in section 14 below. If the soil' is
detennined to be unacceptable the Buyer may rescind this agreement by written notice to
473269vi (J,205-56
the Seller,, in whicl,1 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' tile property.
11. Marketability of Title. As soon as reasonably possible after execution of this
Agreement by both parties:
is Seller shall surrender any abstract of title and a cop), of any owner's title insurance policyfortheproperty, if in Seller's possession or control, to Buyer or to Buyer's designated
title service provider; and
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,
11 Title Clearance and Rem edies. If Seller shall fail to have title objections timely
removed, the Buyer may, at its sole election: (a) terminate this Agreement without any
liability oil 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,
BT1?rV"T- J is in any
of the agreements herein, Seller may elect either of the folloNIVIng options, as permitted bylaw-
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;
K 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 an),,
of the agreements herein, Buyer may, as permitted by law:
C. Seek damages from Seller including costs and reasonable attorney's fees;
3
4732690 C1,205-56
Seek specific perfbmiance within six months after such right of action arises,
11 Well Disclosure, Seller's knowledge of wells is as follows:
14,a Individual Sewage Treatment System Disclosure. Seller certifies that there is noindividualsewagetreatmentsystemonorservingtheProperty.
15. Construction and Sale of Diwelling. Buyer agrees that it will construct a new single
Ibmily 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 theMillimumImprovements."
B. The Minimum Improvements shall consist of a new single family dwelling, andshallbeconstructedsubstantiallyinaccordancewiththeSingleFamilyHomeJ,ot
Sales Program Guidelines on file at City Hall and the proposal approved by SelleronDecember7, 20 1'5, attached hereto as Exhibit B.
C. Construction of the Minimum Improvements must be substantially completedwithinoneyearfromthe [)ate of Closing. Construction will be considered
substantially complete when the final certificate of occupancy has been issued bytheCityofColumbiaHeightsbuildingofficial,
D, Promptly after substantial completion of' the Minimum Improvements in
accordance with those provisions of the Agreement relating solely to theobligationsoftheBuyertoconstructsuchMinimumImprovements, (r
including thedateforcompletionthercoo, the Seller will furnish the Buyer with a Certificate of' Completion, in the form attached hereto as Exhibit t::;', for such improvements.
Such certification by the Seller shall be (and it shall he 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 Minimurn Improvements, and the dates for completion thereof
The certificate provided for in this Section of this Agreement shall be in such
forin as will enable it to be recorded in the proper office for the recordation or
deeds and other instruments pertaining to the llroperty. Ifthe Seller shall refuse or
473269v (A-205-9
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 Improvements in accordance with
the PrOVISiODS 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 ofCompletion
for the Minimurn lmprovements;
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 ofthesame, 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 onlyfor, 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 otherthananOwnerOccupantpriortoissuanceoftheCertificateofCompletion, the
Seller shall be entitled to require as conditions to such Transfer that
0 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 theBuyerastotheportionofthePropertytobetransferred; .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, andexpressly for the benefit ofthe 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 assurned 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
4732690 CL20i-56
Mininiurn 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 Mest 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 iconsummatedoroccurring, 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 he released frorn 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,
6
4732690 0,204-56
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
govern.mental 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 Property; Disposition of Proceeds. Upon the revesting 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, managerrient, and resale of the Property or part thereof (but less any
473269,vl CL205-56
income derived by the Seller from the Propeny 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 thercof'bytheSeller, an! arnount, 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 todischargeanyencumbrancesorliensexistingon: the Property or part thereof at the
time of revesting of title thereto in the Seller or to discharge or prevent fi-orn
altaching or being made any subsequent encumbrances or liens due to obligations,
defarUltS or acts of the Buyer, its successors or transfereeso any expenditures made
or obligations incurred with respect to the making or com'pletion of the Minimurn
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 remainingafterthereimbursementsspecifiedinparagraph (a) above. Such reimbursement
shall be paid to the Buyer upon delivery of an executed, recordable warranty deedtothePropertybytheBuyertotheSeller,
18. T'ime 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 thedateofmailing,
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 thisAgreement,
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 givenunderthisAgreementornoworhereafterexistingatlaworinequityorbystatute. No
delay or ornission 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.
473269v I
24. Recording. This Agreement shall be filed of record with the Anoka County Registrar of
Titles or Office 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 conmissions 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 or
finders' fee's 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 agreernent on the year and date
written above,
SELLER: COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY
mm=
W
COUNTY OF ANC. KA
wIld,17c before me this 54-1 day ofjk p 2016, byLL, 01 7Sf the President and Executive, Director
of CoVimb;
aX-
H ic Development Authority, a public body corporate and politic
under the laws of Minnesota, on behalf of the public body corporate and politic.
4 73269v 1 C1.20-56
Notary Public
By,:
ss,
HORMERKMA
4 r-- The foregoing was acknowledged before me this k r
day of , 2016, by WadeTollefson, the President and Chief Manager of Tollberg 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. 6t' Street
M, itineapolis, MN 55402
10
473269v I CL205-56
Notary Public
SHELLEY SUE HANSON
NOTARY PUBLIC - MINNESOTA
4 My Commission Expires Jan. 31, 2021
EX141BIT A
to
PURCHASE AND REDEVELOPMENT AGREEMENT
FORM OF QUIT CLAIM DEED
ECRV:
THIS INDENTURE, between the Columbia Heights Economic Development Authority, a
Minnesota, a public body corporate and politic (the "Grantor"), and
Minnesota . . . ....... --(the "Grantee").
WITNESSETH, that Grantor, in consideration of the sum of $_ and other good
and valuable consideration the receipt whereof is hereby acknowledged, hereby grant,
bargain, quitclaim and convey to the Grantee, its successors and assigns forever, all tile tract or
parcel of land lying and being in the Count), 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 ifpa.•t or all ofthe hind is Registered (Torrens,' 0
To have and to bold the sarne, together with all the hereditaments and appurtenances
thereunto belonging,
6"Iff"
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 tile 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
cornpletion the redevelopment of' the Property through the construction of the Minimum
Improvements thereon, as provided in the Agreement,
473269v J C1,205-56
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 (arid 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 riot 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 forma 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 perforill in order to obtain
such certification.
S EC T10N 2,
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 revest in
Grantor title to the Property under conditions specified therein, including but riot limited to
termination of such right upon issuance of' a Certificate of Completion as defined in the
Agreement,
I
The Grantee, agrees for itself and its successors and assigns to or of the Properq, or
any part thereof, hereffibefore 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
hercof.
473269N, 1 0-205-56
In amNiRmtiom and not in rcsoklOn (41 the 1wovkking of the pmccdhW MOY h isitlendedandagrccdthattheGrantorshod! he dconed a herteficiary cd' Oic agreernents and
CoveRwrts pro% ided hercin, bodi Ar and in A own dghL and Wm) ku I PUMOws or pm1m6ngKeidleofdiecmmunhyandkeoOwrpam&w puNic or it, o,NI()sc jalloy"01, for %vhoscj-)ej'jCfi[ tjrjeaje Ligreemenis and covomms have betmi proAdA Such agmemeMs and cowmants
shall run in fiavor of jht., Grantor aN"OWIA regard tO whether the (irantor has at any Orne beer).
runnains. m is am owumAW any hmd m hneres; therein a or Ar ihm. of "Tich sud ngramnents
and cowmants relate, The Grantor shall have tht.- right, h, thc event of any hrcach of am", Such
agmanmu or cumnaml to exindse all t1u: rights and remeles, and to nmhu±n any acti'ons or
suhs at law or in eqtdty m other proper proccedOgs to enArce the curing (A' such hiciach of
agmement or covenant, to Which it or any olho- bmwFiciarics ofsiuc[i agrecri1cnt or covellant may, be entitled; F-irovided that (iranor AM! not have any rjh1 U) re-enter the Propeny or recast & the
Grantor the estate conveyed by ths Lked Oil 91-()nrlds Of (ImmCA Ulwe to Comply -whh As,
ohligaWns tinder this SecAn :3,
IN WITNESS W111AUX)F, the Grantor has cwtsed INs Iked to be duo execmed in itsbehalfbyitsPresiLknt, and FAccutive Directcq Mis day of .20
1-J SOIff Cer'6fies that the SelOr
chws not knmv of any vveljs till the
choscrihed re& qopeny,
El A \vell disclosure certificate
accompanks this document or has
been clectronically fii ed, Of
e1cctrollically filed, insert WDC,
number:
E I am ilwraalharr ctlr be pmjerty
described in this instrjujjcjaj newel I
CCT-Iffy that the status and min,iber of
wclls on, flic described real propemy
have rmw changed shwe Me last
previously 0 led 'AVI I disclosure
c,enificatc,
173W ; (1 205 %
CINAA1131A HEIGHTS ECONON,11C,
lWFLOPMEN"T A1.1 I R)RITY
By
Its President
By
Its k'xccudve Director
FOAVIE OF MINNES01 ;I
ss
MINIFY MANOKA
fld", ,,- :day oi' -- -- - - -, , 2 0 r11c.- " nolaflo public wilhin and for
Cminty., per-sonaHy appeamd and -- - -.— — .. ..... ....... toy Tile
person,y known WhO ?) T11C (JUly svvi:wnm did say that they arc the Presidem and EXCCLAVeDirectorof" Che (Wwu, I wWbts 1,Conoinic Development Authorily (the "Autfoority") narned in
OIC fbfVg6g L iTIsImment; thal Ad instrument ~vas signed on hellaWof said Authority pursuara TO
a rescoluAn of its gownting, body; said n
A e Ke Ike o id ccc ',s, - ackm,mled d ia d Au11iority,
This inst.ruinent "as draRed by
Kennedy 01 6mven, Clame,d
470 11S. Bank PNza
20() SOL901 Sixth Street
Mhwwapoh, IWAQ 55402
612) 33T 4600
173M I ( 1200Q
Nolary Public
Tax SmwnwnN shmdd be sera U,),
In
PURCHASE AND REDEVELOPMENT AGREEMENT
APPROVED PROPOSAL
473269v] C1,205.56
mm
CO) L -EP R,
October 26, 2015
Urrf pment Ueparlment
5,90 40"' Avenue NE
Columbia Heights, MNB 55421
RE. Proposal for Economic Development Administration
5, Lots on Polk St. NE and I lot on Tyler St. NE
4606 Po k St NE 4636 Polk St NE
4600 Polk St. NE 46481 Po* St. NE
4618 Folk St, NE 4641 Tyler, St NE
it is cur itent to construct on all 6 properties in Columbia Heights as qulckly as
possible, We have a full' time realtor that sells fair ToNberg Homes exclusively.
We WOUld hope to purchase the land and close as brae and weather permits.
120 days is Our normal completion time frame to construct a home so we
anticipate that we wM have the first two houses built and sold within the first six
MOnthS ffO111 purchase. We would then start the next two, Again with the 120
day constrw',,tion period, we would think that these two properties would be
finished by summer of 2016 At that time Toliberg Hornes would close, and
construct the final two properties By the late summer of 2016 T flberg Homes
would have Purchased, closed and built on all 6! lots.
Enclosed YOU will find Tollberg Homes U C offer as wepl as a sample blueprint
and a sample of specifications for the houses we intend" to buiild,
it is Tollberg's intention to finish the complete upper leve'd' 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
neighborhoodi P'l'ease 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 slay within reason of the current pricing or they would be unable tobesold. It would be unrealistic for anyone to think that the final purchase price of
the new houses would exceed $199,000, In order for TolIberg (or anyone else)
to produce properties en 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 wouI'd
request that if you have any questions , please feel free to contact the
undersigned.
Very truly yours,
Wade Tollefson
President
ToIlberg Homes LLC
CeIL 612-804-9988
Legal:
Buyer Information: Model
3pec S.i Li
Plan Info:
m
Split level 1024 est sq ft Baseent Finished
Basement; FELookout DWalkout DFull
Garage: CRight O'Left 00tyWater/Sewer EjWell/Septic
08,ural Water/Septic
1,10ities:
By Signing below (or by electronic approval or, BuilderTrend), Buyer approves and accepts specifications
as written. These Spedfications supersede finish notes on the house plans UNLESS Tofterg Hornes has
specifically added red hne 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 itern 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 inchided in construction. It is the responsiblIfty of the Buyer, to check and
c,onfirmi that all desired changes have been detailed on the House plans, Spec Sheet, or Change Order,
Date,
Dote:
Extericir Finish:
Wier 'ows CEVmy& 00ther _
GL4 s in glass )Bronl rndy) _
FrantDoor :Slr panel stepl painted .. fibcrg
Garage Service soar: Dyes San
Ga>'.roge D oors Standard Panel
SOne Opener (double stall) C]Mreless keypad
S'lst'v gles,r C Arehiteetural 5 Tal'i
Sidipg OV"VI OFdber Cement Elf'ront Only
5offit Ft#sctnr...Alurr;num .....
w. _,._ ..
Stone. Frarat, per` plan
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PURCHASE AND REDEVELOPMENT AGREEMENT
4732690 C1,205-56
CERTIFICATE 011 C0N1PLEY1j();N
t "f the Cidunlia Heights Wonornic Devc1oprncra Authority, a plibfic body.,
COTCK` Itu' and politl (the Munha", c(mmeyed Wid in Anoka (Anng. Musim to
2 (the "Giantec"), by a Deed recorded in theWhAr"ITAN RusWer land in the Mice of We Regism OWW] in and Wr the (Inuny
of Anc, as tind SUL Of. Nfitinesola. as Document Nunthers and
1-v'spectiveiy:
and
V] I FRF,AS. said Deed contained certain covenams and resniciions set j<-)j,jjj it) St,,Ctj()fjs I
and 2 of said Dccd;, and
VVIRTHAII said Grarnec has perflormed said covenants and coriditions insofiar as it is
able in as nianner deerned sunicient by IN! Wiwr to pcirnAt We exeCL16(m al'ld recording of this
certific0on.
Vq0TY, ri PEREFOR11 this is to ccoiQ Owl aH h0cling constraclion and otficr physical
impnwemew spchkd to be done and made by the Granice have been conipetal and the Xwe
cove-nants and o.-nidiNns in sand ded and the agmemons and covenants in SeciiOns 14/\, and
14H of dw jkgwouou (as deschhed in said Deed) have been perforincd by the Grantee thercin,
W de Muray RecoMer [and thc Rcgistrar of 114s] in and R the Coung of Qwka und Stme
of Minnesota are hereQ authorized to accclg Rm recorcliqp, and to record, the filing of thisk1SUIMICI-It, 10 he al C011C1Usi%,c detenninatkmi of tim safisfiictory tern'diiation ol" the covenints and
condidons of' Sectk)ns 10% and IS B of On! Agmement and Me myvenants and restdclMns set
Bent in SectUmis I and 2 oFsAd Deed; provided that ti-IC sit Inh in Scdkms 15F of'
ffic AgrrCCjj1jCj,fl, and in Section :; or me Iked, remahi in 1W] force and effiect tin-ough 'file period
swwd HXM01r).
Dated: 20
C0H Mll/, illAGI I , I S F, C,()N(YMIC
INFLOPMENT M 1TI TORITY
hs PreMdem
As McWve Wreoor
P kmq, I ( 120i %
S'LAIF'Ol, MINNESOFA
SS
Ibu Aregoing, inmmmm "as zwkno"dedged henAr nw thh; day of W
2 0 by and I dw- Presidcni and F',XCCLItiVC
Director, respectively. (if the CcOumlk 116ghts Amumik Development Authoky. on behalf of
thC MOHWAY
Nol,,iry Public
I hos document drafted by
KF,NNFDY & GRAVFX CI IARTERIA)
470 J.S, Barik Plaza
N%neapWin MN 55402
612),337-930,01
1732% 1 (1 20 A