HomeMy WebLinkAbout2017-2833.01CONTRACT NO: 2017-001
This, Release of Purchase and Redevelopment Agreement entered into this L-'ITa—y ofE41ruai 2017, by and between Colurnbia Heights Economic Development
Authority, "bfiAutho (toy
k,–
a *c body corporate and politic under the laws of the State of Minnesota
EDA") and Steven Lloyd Pepple and Katherine Marie Pepple ("Pepples").
WHEREAS, EDA and Pepples entered into a Purchase and Redevelopment
Agreement, dated August 28, 2014, recorded October 10, 2014 in the office of the Anoka
County Registrar of Titles as Document No. 526146,006 (the "Agreement") regarding the
real property legally described as follows:
Lot 25 and Lot 26, Block 1, Sheffields Second Subdivision (the "Property")
Check here fall carpart of'properly is registered (Torrens) 0
WHEREAS, Pepples are in default under the Agreement and the EDA has given
notice of its intent to revert title in the EDA pursuant to Paragraph 16 of the Agreement.
WHEREAS, Pepples have conveyed the Property back to the EDA by Warrany
Deed (the "Warranty Deed") pursuant to the Agreement;
WHEREAS, Pepples and the EDA, following recording of the Warranty Deed,
desire to release the Property from the Agreement.
NOW, THEREFORE, in consideration of the mutual covenants contained herein
and other good and valuable consideration, EDA and Pepples hereby agree as follows:
1. Pepples represents and warrants to EDA that P'epples has not assigned,
transferred, or conveyed its interest in the Agreement or any interest in the Property, except
the Warranty Deed to the EDA.
2. The Agreement is hereby cancelled, terminated and null and void and neither
party shall have any further rights or obligations thereunder. Pepp les hereby acknowledges
that it has no interest in the Property,
493860v1 CBR CL205-52
IN WITNESS, WHEREOF the undersigned have executed this instrument the day
and date first above written,
COLUMBIA HEIGHTS ECONOMIC
DEVELOPMENT AUTHORITY
By
M,
Its
Its Executive Director
STATE OF MINNESOTA
SS.
COUNTY OF ANOKA
Z
Steven Lloyd Pepple?
Katherine Marie Pepple
This document was drafted by:
KENNEDY & GRAVEN, Chartered (MNI)
470 U.S. Bank P'laza
Minneapolis, Minnesota 55402
Telephone: 337-9300
493860vt CBRCT ?05-52
Notary Public
Catherine RoCkIRZ
Nota,,, pubiic, state of minn,60ta
My Commission EypiresJanuary31, ;'1020