HomeMy WebLinkAbout2016-2756.05ifflfflMM
2. Offer/Acceptance. Buyer offers to purchase and Seller agrees to sell real property inAnokaCounty, Minnesota, legally described as follows (the "Property
South Half of Lot 2 thereof, and all of Lot 3, Block 2, Sheffield's SecondSubdivision.
Check here ifpart or all ofthe land is Registered (Torrens) 0
3. Acceptance Deadfine. This offer to purchase, unless accepted sooner, shall be null ani
void at 4.30 pm. 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") whichBuyershallpayasfollows: earnest money of $2:,000 by check, receipt of which is herebyacknowledgedbySeller. The balance of the Purchase Price must be paid by certifiedcheckorwiretransfertheDateofClosing. The "Date of Closing" shall be no later thanJuly15, 2016.,
5. Personal Property Included in Sale. There are no items of personal property or fixturesownedandcurrentlylocated • the: Property for purposes of this sale,
6. Deed. Upon performance by Buyer, Seller shall deliver a quit claim deed conveying titletothePropertytoBuyer, in substantially the form attached as Exhibit A, subject to the
473280y] CL205.60
conditions subsequent required by Sections 15, 16, and 17 of' this Agreement (theDeed "),
7. Real Estate Taxes and Special Assessinents,
A. Seller shall pay, at or befibre closing all real estate taxes, due and payable in 2015 andprioryears. Seller warrants that the Property is classified as Exempt for real estatetaxesdueandpayablein2016,
473269% 3 0,205-56 2
the Seller, in which case the agreement shall be null and void and all earnest money paidhereundershallberefundedtotheBuyer, Seller makes no warranties as to the conditionoftheProperty,
U, Marketability, of Title. As soon as reasonably possible after execution of' thisAgreementbybothparties.
a) Seller shall surrender any abstract of title and a, copy 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
b) Buyer shall obtain the title evidence determined necessary or desirable by Buyer,
12. Title Clearance and Remedies. If Seller shall fail to have title objections timelyremoved, the Buyer may, at its sole election.- (a) terminate this Agreement without anyliabilityonitspart; 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 Propertysubjecttosuchobjections.
If title is marketable, or is made marketable as provided herein, and Buyer defaults in anyoftheagreementsherein, Seller may elect either of the following options, as permitted bylaw:
A. Cancel this contract as provided by statute and retain all payments madehereunderasliquidateddamages, The parties acknowledge their intention that
any note given pursuant to this contract is a down payment note, and may bepresentedforpaymentnotwithstandingcancellation;
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 anyoftheagreementsherein, Buyer may, as permitted by law.
C Seek damages from Seller, including costs and reasonable attorney's fees;
473269%,] (,1205-56
3
47269v (.11,205-56
fail to Provide any cerlification in accordance with the Provisions of this Section,
thaw Seller shall, within thirty (30) days after 1ATitten request by the Buyer, provide
the Buyer with a written statement, indicating in adequate detail in What respectstheBuyerhasfailedtocompletetheMinimumimprovementsinaccordancewith
the provisions of the Agreement, or is otherwise in default,, and what measures oractsitwillbenecessary, in the opinion of the Seller for the Buyer to take orperforminordertoobtainsuchcertification,
B. The Buyer represents and agrees that until issuance of the Certificate of CornpletionfortheMinimuniImprovements:
00 Any Proposed transferee, by instrument in writingsatisfactorytotheSellerandinformrecordableinthepubliclandrecordsofAnokaCounty, Minnesota,, shall, for Itself and its successors and
assigns, and expre&sly for the benefit of the Seller, have expressly assurned
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 othersuccess01`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 rernedies or controls with respect to the property, the
473269vi C'1,2C)5-5f)
Minimum Improvements or any part thereof' or the construction of the
Minimuni Improvements; it being the intent of the parties as expressed in
this Agreement that (to the fullest extent permitted at law and irl 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 reasonablysatisfactorytotheSeller.
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 obligationunderthisAgreement, as to the portion of the Property that is transferred,
assigned, or otherwise conveyed® The provisions of this paragraph (3) apply to allsubsequenttransferors,
6
473269YI C,1205.56
Notwithstanding anything to tile 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 aCertificateofCompletionhasbeenissueG,
For the purposes of this Agreement, the term "Unavoidable Delays" means delays beyond
the reasonable control of tile 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 theMinimumImprovements, 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 pern-nits or governmental approvals necessary to enable construction of the
Minimum Improvements by the dates such construction is required under, this section of thisAgreement.
17. Resale of Reacquired Propen'y; Disposition of Proceeds. Upon the, revesting in theSelleroftitletoand/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 thisAgreementasfollows:
a) First, to reimburse the Seller for all costs and expenses incurred by the Seller,
including but not Urnited to proportionate salaries of personnel,, ill connection witil
the recapture, manageirient,. and resale of the Property or part thereof (but less any
473269v C1,205-56
income derived by the Seller from the Property or part thercofill 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 frown
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 tile
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
N 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 deedtothePropertybytheBuyertotheSeller.
4732690 (1,205-56
24, Recording. This Agreement shall be filed of' record with the Anoka COL]nty Registrar of
Titles or Office of'Recorder, as the case may be, Buyer shall pay all recording costs.
In witness of the foregoing, the parties have executed this agreement on the year and date
written above,
SELLER: COLUMBIA 11EIG11TS ECONOMIC DEVELOPMENT ALIT14ORITY
By
Its esidem
STATE OF MINNESOTA
M
COUNTY OF ANOKA
x07
Its Executive [hector
MITI , fi ek'nowlVe 1, le 9 ogg was, a !ed efbr, i e is day of' )IL% 0: 16, by
e,' "'? -T. , the President and Executi Directort
of' Col6mbia Heights Economic Development Authority, a public body corporate and politic
under the laws Of MinrneSota, on behalf of the public body corporate and politic.
otar Public
9
BUYER: Tollberg Homes, LLB;
By.
Ss'
COUNTY OF ANOKA
The foregoing was acknowledged before me this ji.Zjkj_ day of f . 2016, by Wade
Tollefson, the President and Chief Manager of Tollberg Homes, LLC, a Minnesota limited
liability company, on behalf of the limited liability company,,.,,
Notary Oublif
This docuanent draftedaed by
Kennedy Craven, Chartered
470
red
470 U.S. Bank Plata
200 So. 6"' Street
Minneapolis, MN 55402
10
d73269vj CL205-56
4
EXHIBITA
to
PURCHASE AND RE DEVELOP MENT AGREEMENT
FORM OF QUIT CLAIM DEED
Deed Tax Due: $
ECRV:
TIJIS INDENTURE,, between the Columbia Heights Econornic Development Authority, a
Minnesota, a public body corporate and politic (the "Grantor"), and
Minnesota i"). the " Crantee
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 "Properl'Y"),
Check here ij'))arl o,r all Qfthe land is Regislered (Torrens) 0
To have and to hold 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 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, &11 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 fleights, 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 Mininiurn
Improvements thereon, as provided in the Agreernentd
473269 i 0.205-56
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 (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 oaf` 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.
I--'C I
17he 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 ten years after the date
hereof.
4732690 (1,205-56
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 puilioses of protectingtheinterestofthecornniunityandtheotherparties, public or private, in whose favor or f(.-)r 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 firne 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 maybeentitled; provided that Grantor shall not have any right to re-enter the Property or revest in the
Grantor the estate conveyed by this Deed on grounds of Grantee's failure to comply with itsobligationsunderthisSection3,
IN WITNESS WHEREOF, the Grantor has caused this Deed to be duly executed in itsbehalfbyitsPresidentandExecutiveDirector, this day 20---,
473269vI CL205-56
COLUMBIA HEIGHTS ECONOMIC
DEVELOPMEN7'AUTIfORYJ`Y
By
Its President
By
Its Executive Director
SI'ATE OF MINNESOTA
ss
COUNIN OF ANOKA
On this day, of 20_ before nee, a notary, public within and for
County, personally appeared and . . ..... ....... to me
personally known who by rne duly sworn, did say that they are (lie President and Executive
Director of the Columbia Heights Economic Development ALIthority (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 ofsaid Authority,
This instrument was drafted by;
Kennedy & Graven, Charted
470 US. Bank Plaza
200 South Sixth Street
Minneapolis, MN 55402
612) 337-9300
4732tM (1-20 56
Tax Statements should be sent to:
I'M
PURCHASE AND REDEVELOPMENT AGIWEMENT
APPROVED PROPOSAII
4732691 01,205-56
October 26, 2015
Community Development Department
590 40th Avenue NE
COILIMbia Heights,, MNB 55421
RE Proposal! for Economic Development Administration
5 Lots on Polk St. NE and' I lot on Tyler St NE
4606 Polk St. 4636 Polk S,t. NE
4600 Polk St NE 4648 Polk St, NE
4618 Polk St, NE 4641 Tyler St. NE
It is our intent to construct on all 6 properties in Columbia Heiglits as quickly as
possible. We have a full firne realtor that sells for ToNberg 1--iornes exclUSlVely.
We wmAd hope to purchase the land and close as time and weather permits.
120 days is our normal completion time frarne tc construct a, horne so we
anticipate that we will have the first two hOLISeS buift and sold witNn the first six
Very truly yours,
Wade ToUefson
President
Tollberg Homes LLC
Cefl: 612-804-9988
T'o L' 1, B Ell
main into:
TpI t level 1024 est sci ft
Basement: ZLookout F]Walkout EDFull
Garage DRight ElLeft
2
2
M
Basernent Finished
Uti I ities :
OCity Water/Sewer r"': WeP/Septic
CRural Water/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 pNans UNLESS Tollberg Homes has
specifically added red line notes to the plan. Any change to these specifications is subject to $150
Change Order fee in addition to the cost of the change. A requested change is not guaranteed until a
signed Cfj ange Order is on file. Buyer is aware that any item discussed between Buyer and Builder, or
representative of the Builder, that has not been detailed on the approved House plans, Spec Sheet, o,r
Change Order will not be included in construction. It Is the re5ponsibillty of the Buyer to check and
confirms that all desired changes have been detailed on the House plans, Spec Sheet, or Change Order.
Date:--
Buyer: Do,te,•
Exterior Finish:
301
front oriy
ilo'n"t Daor SSi panel steel, painted r b
auri Servrrre Door: '_1 Yes F, No
Geroge Doors: OfStandairdPaneP (]Other
E,One Opener fdDub e staff) C]Wirefless keypa
Shdrigfes; "7 - _]A rc-h"" ite' c_t_u'r_aT_
Sidxrn ZVinyl ONber Cement _....,._CFront 0'IN
AlurriInumu
5t¢srae,F'ront per pear - ----------
beck. '::Yes ZNo
Notes Framing 2ft OC
Msulated wrth Over, f.iYes rZ No
Gutters: Yes CZ'No
Shakes: XV!nyfl DFiberCecrrent
Cofumn3: Olviratee Wrap SiCedar Stone Base
Fire Oviss NOFir
7-5-O 7ffE`h-dW-"aT---- — ------ . ...... LICarner DIntenor UDog Hotise hearth
til I" Stone to rnawl '_'-Stone to ceiiing '!'Wood mart e
HVA C;
Gas iines: 7-jDryet 01 Range C_,Cookrcp ZiFurodce DFIreplace
Dryer Egathfans CRanigetlood 0Micro Airrychari '--Y(2s Into
Humidifier. OYes EN0
DiCiarage Heater [DiArater beer
fvotes N
Gas Servii•i OlNlaturaf Gas C3!1' P
Ptombi . ng., QO
FIKt _gj$CanclardEaLc'kaige "AIlowarice, I-Ji-, muster ShOiWer: ,Fibergri
4A ater treater So Ga I Electric 050 Gal Powervent Garage )2ELDrairrr: D vv5
SlGarbaKE Disposal LKIce Maker line ELDSprinkler hne E74et Bar ZLaundv- - rUbT 'LiSun,
Electricak
Selvice: L7150
01 No,
np L'Surnp Basket
Plate Covetv ZWhAe, EIA, rnond
DWhirlpool T,,b L CertralAi, Tp PUMP IAir Exchanger Zhot Wafrer Heater ['J" ejl,
n ti, Hoodhie - a - t -
4ZK'Garbage Di posai ZiDishwa ner l-EiRefrigerator WaVlOvii ?Dryer CCeilirg Fan ZI Bath Far. (2)
U@re Corner", 1-7; ROLPnded CcYrriEqs
ZSheetrock
Cartrd
oWy pCqroCk corqA.CE Fire tape o fshed, (Iape patnt)
117,il Finish:
y SWhite MDF EPrehnrstrcd Poplar Cosing Style; Z2,1/4" Pirmcetion E,13 1/4" Princeton
EiOther: Style /8 iia ' Princeton E14 1/4" Princeton2
pBar 2,6010 Handrall ZSkirtboard aCap Board (for half wall)
OSQUare Poplar Baluster I "Warte Black Muminum Baiuster DSquare Foplar.Newel L'Popi±ar Box Ne-&el'
InteriorDoory 01-10flowcore, White FIDTher: 93 Ed flat X15panel,ra sed —Othier: -,rio
wore., 9,Sarin Mckel 00ther --
I--
J. Lh!; vjij,-7 EWNte wire [)White melan-Onie w/ wood rod
CObrfaetS: OPoplaf OKnottyAider Z,01ther Smart Flat pane ZI Raised pan.,
Kitchen Countertop: SLanninate DGranfte EStandard Backsplash (to match) OCerarnic Tfle BackspWh
GraniIeEIGraniteuninate
Point,, ZStandard Flat DiEggsheVISatin I Cofors Mirrors. 2401" Height X Vanity Width
CarrP 0 ECerg Standard Io-W`a-nC_e Betroorns LiOngRoon HaHway C'Study Stairs
lAillowance rE-;W, t=,- FT Bath Ir; Other Baths CMud El LaCeramicrile., OTicifterg Standard 0 artadry
VF,n;7i, OToiiberg Standard DAllowa nice 5 Kitchen SDWng Pt,Foyer Baths OLaUndif-y
Wa, L , Larninate '.—Mardwood 1! C]ToPbergSlaridard DAflowance(JS j
E'Uvini;Roorn E]Mud ['Foyer
Notes:
Notes:
eway" Dconcrete SA!
Sidewalks: Dyes VqNo
SMachine Grade DAIlowance:
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IN
PURCHASE AND REDEVELOPMENT AGREEMENT
FORM OF CERTIFICATE OF COMPLETION
473269vj CL20556
x7m, I
WJJFRJ-`AS,, the COlUmbia Heights Economic Developi-rient Authority, a public body,
corporatc and politic (the "Granilor"),, conveyed land in Anoka County, N4jjjjjcsOj.a to
Graillee"), by a Dced rec(,,)r-ded in theOff-Ice of County Recorder [and in the Office of the Registrar of-Tifle,,i] in arid Ru the CountyofAnokaandStaleofMinnesota, as Document Nun-jbers and
respectively;
and
WHERFAS, said Deed contained certain covenants and restrictions set J'(,)z-tjj ill Sectiojis I
and 12 ofsaid Deed; arid
WFIFRIAS, said Gramee has perfiomied said covenants, and conditions insolar as it is
abie in a manner deenied suffi6ent bNI the Grantor to perink the execution and recording of U°jlscertificatiom,
NOW, H I ERETOR 111, this is to certify that all building construction arid other physical
improvements specifioj to bc done and made by the Grantee have been cornpleted and the above
covenants and conditions in said Deed and the agreements an(] covenants in Sections 14A and
1413 of the Agreenient (as described in said Deed) have been performed by the Graritee therein,
and the COUnty, Recorder land the Registrar of" Tides) in and for the Counly W' Anoka and State
of Minnesota arc hereby authorized to accept fior recording and to record, the filing of' thisinstrU111CIII., to be a conclusive determination ofthe satislijctort' termiriation of the covenants and
conditions of" Sections 15A and 1513 of the Agreement and t1w covenants and restrictions set
f'01111 in Sections I and 2 cat` said Deed, provided that flic covenants set forth in Sections 151," of
the Agreernent, and in Seclion 3 of the Deed. reniain in full force and efl',ct through the peri<)d
stated thereon,
20
7320A 11 U,205 6
COU MMA J ILIGI ITS L"CONOMIC',
DFIN I 'T,OPM YINT AUTI IOR ITY
hs Rresidew
By
Its 11"'Xecutk e Director
STATF'OF NIINNFSOTA,
SS
C'OUNTY (,)j:,ANOKA
Fhe Coregoing instrmnem "m Mnowldged behur me AN day of_
i1residew and Fxecufivc20 _. by and the
INrc.°ior, respecAdy, of Me Mum% Mj.'!hls [,,'(.,.()nornic Devek)prnent Authority. cnl bchaffof
We uuthority,
N()t jj.ry ()111)11C
This documem draRed by;
KENNEDY & GR,AVF,,N, Cl ]ARTU'RED
470 1 VS, Rank Plan]
Nlkneapok, hAN 55402
61 2) 337-9300