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HomeMy WebLinkAbout2016-2756.07CONTRACT NO: 2016-007 PURCHASE AND REDEVELOPMENT AGREEMENT 4636 Polk Street NE, Columbia Heights, Minnesota I. Parties. This Purchase and Redevelopment Agreen-cnt is made as mA 7A 2016, between the COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, a public body corporate and politic under the laws, of Mirmesota having itsofficelocatedat590401" Avenue NE, Colombia Heights, MN (the "Seller'), and TOLLBERG HOMES, LLC, a Minnesota lirnited liability company, having its principal office at14285'h Avenue, Anoka, MN 55303 (the "Buyer') (the "Agreerrtent), 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 (35) feet thereof all of Lot Six (6), and the North One-halfof Lot Seven (7), in Block 2, Sheffield's Second Subdivision. Check here i0art or all (?fthe land is Registered (Torren, i 0 3. Acceptance Deadline. This ofler to purchase, unless accepted sooner, shall be null and void at 4:30 p.m on March 21, 2016 , which is 14 days after Seller authorized the sale, 4. Price and Terms. The price for the Property is $18,500.00 ("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, 473277v2 0,205-57 6. Deed'. Upon Perfonnance by Buyer, ' Seller shall deliver a, quit claim deed conveyiig title to tilePropertytoBuyer, in substantially the fonn attached as Exhibit A, subject to the 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. Seger warrants that the Property is classified as Exempt lbr real estate taxes due and payable in 2016, B. Seger shall pay on Date of Closing all special assessments levied against the Property asofthedateofthisagreement, including those certified for payment in 2016. Seger represents that there are no special assessn-cnts pending as of the date of this agreement. If a special assessment becomes pending after the date of this agreement and before the Date ofClosing, Buyer may, as Buyer*s option: Assume payment of the pending special assessment without adjustment to the purchase agreernent price ofthe property, or 2. Require Seller to pay the pending special assessment and Buyer shall pay a comn-&nsurate increase in the purchase price of the Property, which increase shall be the same as the estimated amount ofthe assessment; or 3. Declare this agreement null and void by notice to Seller, and earnest moneyshallberefundedtoBuyer, 81. Closing Costs and Related Items. 71-he Buyer will pay: (a) the closing fees charged by thetitleinsuranceorotherclosingagent, if any, utilized to close the transaction conternplated by this Agreement; (b) fees for title evidence obtained by Buyer, (c) the recordingfeesforthisAgreementandfortheDeedtransfen* title to Buyer. Seller will pay all other fees nonmily paid by sellers, including (a) any transfer taxes, and Well Disclosure fees required to enable Buyer to record As deed fi-om Seller under this Agreen-&nt, and (b) fees and charges related to the ft of any instrument required to make title marketable, Each party shall pay itsownattorneyfbes, 9. Sewer and Water. Seller warrants that city sewer is available at the Property line, and that citywaterisavailableintherightofwayadjacenttotheProperty. Seller makes no warrantyregardingtheconditionsofanyexistingwaterstubli-orn the main to the Property line, Seller advises Buyer to inspect the condition ofthe water stub, 10. Condition of Property. Buyer acknowledges that they have inspected or [lave 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 ofdetennining ifthe soil is suitable 2 473277v2 (1205-57 for construction of the dwelling described in section 14 below, Ifthe soil is determined to be unacceptable the Buyer may rescind this agreerrient by written notice to 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 ofthis Agreement bybothparties: a) Seller shall Surrender any abstract oftitle 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 fin-ther 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 Agreen-mit without any liability on its part; in which event the earnest money shall be promptly refunded in exchange for a quit cla . irn 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 ofthe agreements herein, Seller may elect either ofthe following options, as enTfttedby law: p 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 attorneys fees, as permitted by law. If title is marketable, or is made marketable as provided herein, and Seller defaults In any ofthe agreements herein, Buyer may, as permitted by law: C, Seek damages from Seller including costs and reasonable attorneys fi es; 3 473277v2 01.205-57 D. Seek specific, perf6nnance within six nx)nths after such right of action arises. 13,. Well Disclosure. Seller's knowledge of wells is as follows: 2 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 am 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 A will construct a new sinO)e fairrily 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 farnify dwelling described in this Section is referred to as the "Minimurn Improvements," B. The Minimum Improvements shall consist of a new single fair* dwelling, and shall be constructed substantially in accordance with the Single Family Home Lot Sales Prograrn Guidelines on file at City Hall and the proposal approved by Seller on Decernber 7, 2015, attached hereto as Exhibit B. C. Construction of the Mirtfirrurnimprovernents must be substantially completed within one year from the Date of Closing. Construction will be considered substantially cornplete when the firm] certificate of occupancy has been issued by the City ofColumbia Heights building official D. Promptly after substantial completion oftire Nfinimum In,4)rovements in accordance with those provisions of the Agreement relating solely to the obligations of the Buyer to construct such Minirnurn 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, f6r 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 ofthe 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 Mirthrum. Improvements and the dates for completion thereof The certificate provided for in this Section ofthis Agreement shall be in such form as will enable A to be recorded in the proper office for the recordation of deeds and other 4 473277v2 ('1205-57 instruments pertaining to the Property If the Seller shall refitse or 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 h-pprovcments 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 ofthe Seller for the Buyer to take or perform in order to obtain such certification. E. The Buyer represents and agrees that until issuance ofthe Certificate ofCornpletion 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 forrn 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 f6r, the pin-pose 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 Irnprovements 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 EM the obligations undertaken in this Agreement by the Buyer as to the portion ofthe Property to be transferred; and ii) Any proposed transferee, by instrument in writing satisfactory to the Seller and in foam recordable in the public land records of Anoka County, Minnesota, shall, for itself and As successors and assigns, and expressly for the benefit of the Seller, have expressly assun-&d all ofthe obligations ofthe Buyer under this Agreen-&nt 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 473277v2 Minimum Improvements or any part thereofor the construction of the Minimuin Improvements, it being the intent of the parties as expressed in this Agreement that (to the fifflest extent permitted at law and in equity and excepting only in the manner and to the extent specifically provided otherwise in this Agreement) no trartsf r o or change with respect to, ownership in the Property or any part thereof; or any interest therein, however corLsunmiated 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 ofits obligations with respect thereto. iii) Any and all instruments and other legal documents involved in effecting the transfier of any interest in this Agreement or the Property governed by this subsection E. shall be in a form reasonably satisffictory 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 fi-orn its obligation under this Agreement, as to the portion of the Property that is transferred, assigned, or otherwise conveyed. The provisions ofthis paragraph (3) apply to all subsequent transferors. 4) Upon issuance ofthe 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 Minimurn Improvenwnts only as a single farnily dwelling, and in the case of an Owner Occupant, will occupy the Property as a residence, (b) will not rent die 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 frown real estate taxes under State law (other than any portion thereofdedicated or conveyed to the City of Columbia Heights or Seller in accordance with this Agreement). The covenants in this paragraph run "ith the land, survive both delivery of the Deed and issuance of the Certificate of Con4)letion for the Minimuna Improvements, and shall rernain in effect for ten years after the Date of Closing. 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 part thereof to the 6 473277v2 C1,205-57 Buyer and prior to receipt by the Buyer of the Certificate of Completion for of the MmiliMM11 In-iprovenients, the Buyer, subject to Unavoidable Delays (as hereafter defined), fitiLs to carry out its obligations with respect to the construction of the Miriiniurii Improvements (including the nature and the date for the completion thereof),, or abandons or substantially suspends construction work, and any such Mure, abandonment, or suspension shall not be cured, ended, or remedied within thirty (30) days after written demand frorn 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 pail of the Buyer to rernedy, end, or abrogate such default within the period and in die immer 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 theBuyer, and any assigns or successors in interest to and in the Property, shall revert to the Seiler, 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" nvans delays beyond the reasonable control of the Buyer as a result thereof which are the direct result of striles, other labor troubles, prolonged adverse weather or acts ofGod, fire or other casualty to the Minimum Improvements, litigation cornmenced by third parties which,, by injunction or other sirnilar 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 governiiiental approvals necessary to enable construction ofthe Minimurn Improvements by the dates such construction is required wider this section of this Agreement, 17. Resale of Reacquired Property; DispositjoH of Proceeds. Upon the revesting in the Seller oftitle to and/or possession of the Property or any pail 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 hn*cd to proportionate salaries ofpersonnel, in connection with the recapture, management, and resale of the Property or part thereof (but less any income derived by the Seller from the Property or pail thereof in connection with such management); all taxes, assessirients, 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 7 473277v2 ('1205-57 Charge during the period ofownership thereofby the Seller, an aim utht, ifpaid, equal to such taxes, assessments, or charges (as determined by the Seller assessing official) as would have been payable ifthe Property were not so exempt); any payrnents nhade or necessary to be wade 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 fi-om attaching or being made any subsequent encumbrances or hens due to obligations, defaults or acts ofthe Buyer, its successors or transferees; any expenditures made or obligations incurred with respect to the making or completion of the Mininhum linproverrients 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 ofthe pwvbase 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 provis ions 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, ifmailed, are effective as of the date ofmailing. 20. MinnesotaLaNv This contract shall be governed lay the laws ofthe State ofMinnesota. 21. Specific Performance. This Agreement may be specifically ent6rce,d by the patties, provided that an action is brought within one year ofthe date ofalleged breach of this Agreement. 22. No Remedy Exclusive. No remedy herein conterred 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 tight 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 closin& and the parties shall be bound accordingly. 24. Recording. This Agreement shall be filed of record with the Anoka County Registrar ofTitles or Office of Recorder, as the case may be. Buyer shall pay all recording costs, 25. No Broker Involved. 'Flre Seller and represent and warrant to each other that there is no broker involved in this transaction with whom A has negotiated or to whom it has agreed to pay 473277v2 (1,205-57 a broker commission. Buyer agrees to indemnify Seller for any and all claims for brokerage coninissiorLs 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 cornn-issions or fuiders" fees in connection with negotiations for purchase of the Property arising out of any alleged agreement or cornrnitment or negotiation by Seller. In witness of the foregoing, the parties have executed this agrees e- nt on the year and date written above. M STATE OF MINNESOTA ss. COUNTY OF ANOKA 0 8 1., Its Executive Director 6 4 The foregoing was acknowled led efore jw this 2_ day of IWCA 2016, by and 4-)J/ the President and Executive Director of Co is Heights Economic Development Authority, a public body corporate and politic under the laws of Minnesota, on behalfof the public body corporate and politic, Notary Public 91 47327'7v2 (1,205-57 BUYER: Tollberg Homes, LLC By: 0 I ss. COUNTY OF ANOKA The foregoing was acknowledged before me this day of 2016, by Wade Tollefson, the President and Chief Manager of ToUberg homes, LLC, a Minnesota ffinited liability conipany, on behalfofthe limited liability conpany. A v— b I ' cNotaryI IThis doctur&nt drafted by: Kennedy & Graven, Chartered 470 U.S. Bank Plaza 200 So. 6t" Street Minneapolis, MN 55402 10 473277v2 (1,205-57 y ; , , III li II I IM' , I *_ 11 i , to PURCHASE AND REDEVELOPMENT AGREEMENT Deed Tax Due: $ I THIS INDENTURE, between the Columbia Heights Economic Development Authority, a Minnesota, a public body corporate and politic (the "Grantor), and a Minnesota the "Grantee'). WFI"N ES SETH, that Grantor, in consideration of the sum of and other good and valuable consideration the receipt whereof is hereby acknowledged, does hereby grant, bargain, quitclaini and convey to the Grantee, its successors and assigns forever, all the tract or parcel of land lying and being in the County ofAnoka and State ofMinnesota described as follows, W-Wit (Such tract or parcel ofland is hereinafter referred to as the "Property'): Check here %fpart or all of'the land is Registered (Torrens) 0 To have and to hold the same, together with all the hereditaments and appurtenances thereunto belonging. SECTION I 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 '20 —, identified as "Purchase and Redevelopment Agreement" (hereatter referred to as the "Agreernent"), and that the Grantee shall not convey this Property, or any part thereof except as permitted by the Agreement, until a certificate ofcompletion releasing the Grantee thorn certain obligations of said Agreement as to this Property or such pail thereof then to be conveyed, has been placed of record, This provision, however, shall in no way prevent the Grantee fi•orn mortgaging this Property in order to obtain Jun& f6r the purchase of the Property hereby conveyed or for erecting the Minirnw-n Improvernents thereon (as defined in the Agreement) in conformity with the Agreement, any applicable development prop-am and applicable provisions of the zoning ordinance of the City of Colurnbia Heights, Minnesota, or for the refinancing ofthe 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 Minimurn Improvements thereon, as provided in the Agreement. 473277v2 C1,205-57 Prorrp&y after completion of the Minirrun Improvements in accordance with the provisions of the Agreement, the Grantor will finTish 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 f6r the beginning and completion thereof Such certification and such determination shall not constitute evidence of compliance with or satisfaction ofany obligation of the Grantee to any holder of a mortgage, or any insurer of a mortgage, securing money loaned to finance the purchase ofthe 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 ofTitles, Anoka County, Minnesota, Ifthe Grantor shall refuse or fail to provide any such certification in. accordance with the provisions of the Agreement and this Deed, the Grantor shalt 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 ofthe Grantor, for the Grantee to take or perform in order to obtain such certification SECTION 2, I"he 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 not ffirihed 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 terrils 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. 473277v2 ('1.205,57 In an-tplification, and not in restriction of; the provisions of the preceding section, it is intended and agreed that the Grantor shall be deer a beneficiary of the agreements and covenants provided herein, both f6r and in its own right, and also for the purposes of protecting the interest of the cotimiunity 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 th-re been, remains, or is an owner ofany land or interest therein to, or in favor o which such agreements and covenants relate. The Grantor shall have the rio, it, 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 ofagreernent or covenant, to which it or any other beneficiaries, of such agreement or covenant n-my be entitled; 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 ofGrantee'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" -----120 The Seller certifies that the Seller does not know of any wells on the described real property. 1:1 A well disclosure certificate accompanies this docunient or has been electronically filed. (If electronically filed, insert WDC number; 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. 473277v2 (1205-57 COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY By Its President By Its Executive Director. STATE OF MINN ESOTA ) ss COLJNTY OTC AN OKA On this . ....... . day of 20 beforeore e, 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 instrmnent to be the free act and deed ofsaid Authority, This instrurrient was drafted by: Kennedy & Graven, Charted 470 U.S. Bank Plaza 200 South Sixth Street Mimeapolis, MN 55402 612) 337-9300 473277v2 CI-205-57 Notary Public Tax Statements should be sent to: 10 473277v2 CL205-57 i it cc# 473277),,2 C1,205-57 WHEREAS, the Colurribia 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 ofAnoka 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 A is able in a inanner deemed sufficient by the Grantor to permit the execution and recording ofthis certification; NOW, THEREFORE, this is to certify that all building construction and other physical improvements specified to be done and rnade by the Grantee have been conipleted and the above covenants and conditions in said Deed and the agreements and covenants in Sections 14A and 14B 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 insmu-nent, to be a conclusive determination ofthe satisfactory terixmination of the covenants and conditions of Sections 15A and 15B ofthe Agreement and the covenants and restrictions set Forth in Sections I and 2 ofsaid Deed-, provided that the covenants set forth in Sections, 15F of the Agreement, and in Section 3 of the Deed, remain in fitil force and effect throuo, i the period stated thereon. Dated: 20 COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY By Its President By Its Executive Director 473277x2 C1,205 -5 7 STATE OF MINNESOTA ss COUNTY OF ANOKA Ilie tbregoing itistrummi. was, acknowledged before me this day of 20—, by . ..... _ and the President and Executive Director, respectively, of the Colutribia Heights Econon c Development Authority, on behalf of the authority. Notary Public This document drafted by: KENNEDY &GRAVEN, CHARTERED 470 U.S. Bank Pla;m Minneapolis, MN 55402 612) 337-9300 473277v2 C1.205-57