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HomeMy WebLinkAbout2016-2756.14CONTRACT NO: 2016-014 CONTRACT DATE: 07/21/16 CANCELLATION OF PURCHASE AND REDEVELOPMENT AGREEMENT FOR 4641, TYLER STREET NE, COLUMBIA HEIGHTS, MINNESOTA This Cancellation of Purchase and Redevelopment Agreement entered into this VdayofJuly, 2016, by and between Columbia Heights Economic Developinent Authority, apublicbodycorporateandpoliticunderthelawsoftheStateofMinnesota ("EDA") and Tollberg Homes, LLC, a Minnesota limited liability company ("Tollberg"). WHEREAS, EDA and Tollberg entered into a Purchase and Redevelopment Agreement, dated January 4, 2016 (the "Purchase Agreement") regarding the real property legally described as Lot Twenty-five (25) and the South 20 feet of'Lot Twenty-six (26), Block Two (2) of Sheffield's Second Subdivision, Anoka County, Minnesota, commonly referred to as 4641 Tyler Street NE, Columbia Heights, MN (the "Property"); WHEREAS, EDA and Tollberg desire to terminate the Purchase Agreement. NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, EDA and Tollberg hereby agree as follows: 1. Tollberg represents and warrants to EDA that Tollberg has not assigned, transferred, or conveyed its interest in the Purchase Agreement or any interest in theProperty. 2. Tollberg acknowledges reimbursement of its $,2,000.00 Earnest Money paidpursuanttothePurchaseAgreement, 3. The Purchase Agreement is hereby cancelled, terminated and null and void and neither party shall have any further rights or obligations thereunder. Tollberg herebyacknowledgesthatithasnointerestintheProperty, IN WITNESS WHEREOF the undersigned have executed this instrument the dayanddatefirstabovewritten. 4828500] CBRCL205-58 Its President and ChiefManager