HomeMy WebLinkAbout2017-2833.05milam* ,
I # I IION101
PURCHASE AND REDEVELOPMENT AGREEMENT
4647 Tyler Street, Columbia Heights, Minnesota
1. Parties,. This Purchase and Redevelopment Agreement is made as of July 10, 2017
between the COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, a
public body corporate and politic under the laws of Minnesota having its office located at
590 40'ri 1 Avenue NE, Columbia Heights, MN (the "Seller"), and Tollberg Homes, LLC,
a Minnesota limited liability company, having its principal office at 1.428 5"' Avenue,
Anoka, MN 55303 (the "Buyer") (the "Agreement"),
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 Twenty-six (26) except the South 20 feet of said Lot Twenty-six (26) and all of Lot
Twenty-seven (27), in Block Two (2) of Sheffield's Second Subdivision Anoka Co. Minn.
according to the plat thereof on file in the Office of the Register of Deeds in and for said
County and State.
Check here if part or all of the land is Registered (Torrens) 0
3. Acceptance Deadline. This offer to purchase, unless accepted sooner, shall be null and
void at 4„30 p.m. on July 11, 2017, and in such event all earnest money shall be refunded
to Buyer.
4. Price and Terms. The price for the Property is $22,500,00 ("Purchase Price") which
Buyer shall pay as follows: nonrefundable 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 of wire transfer on the Date of Closing. The "Date of Closing" shall be
no later than September 8, 2017.
5. Personal Property Included in Sale. There are no iterns of personal property or fixtures
owned by Seller and currently located on the Property for purposes of this sale.
6. Deed. Upon perforinance by Buyer, Seller shall deliver a quit claim deed conveying title
to the Property to Buyer, in substantially the forin attached as Exhibit A, subject to the
5017070 CL205-50
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 2016 and
prior years. Real estate taxes due and payable in the year of closing shall be pro-
rated to Seller and Buyer as of the Date of Closing.
B. Seller shall pay on Date of Closing all special assessments levied against the
Property as of the date of this agreement, including those certified for payment in
the year of closing. Seller represents that there are no special assessments pending
as of the date of this agreement. If a special assessment becomes pending after the
date of this agreement and before the Date of Closing, Buyer may, as Buyer's
option:
Assume payment of the pending special assessment without adjustment to
the purchase agreement price of the property; or
2. 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
3. Declare this agreement null and void by notice to Seller, and earnest
money shall be refunded to Buyer,
8. Closing Costs and Related Items. The Buyer will pay: (a) the closing fees charged by the
title insurance or other closing 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 non-nally 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 from the rnain to the
Property line. Seller advises Buyer to inspect the condition ofthe water stub.
1Q. 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 PuITOse of determining if the soil
is suitable for construction of the dwelling described in section 14 below. If the soil is
determined to be unacceptable the Buyer may rescind this agreement by written notice to
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the Seller, in which case the agreement shall be null and void, Seller makes no warranties,
as to the condition of the Property,
11. Marketabiliq, of Title. As soon as reasonably possible after execution of this
Agreement by both parties:
a) Seller shall surrender any abstract of title 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, Ob . l . ections not made within such time will be deerned
waived. The Seller shall have 90 days frorn 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.
12. Title Clearance and Remedies. If Seller shall fail to have title objections timely
removed, the Buyer may, at its sole election: (a) ten-ninate this Agreement without any
liability on its part upon provision of a quit claim 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
of the agreements herein, Seller may elect either of the following options, as pen-nitted bylaw:
A. Cancel this contract as provided by statute and retain all payments made
hereunder as liquidated darnages. 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 attorney's fees, as permitted by law.
If title is marketable, or is made marketable as provided herein, and Seller defaults in any
of the agreements herein, Buyer may, as pen-nitted by law-.
C. Seek damages from Seller including costs and reasonable attorney's fees;
D Seek specific perfon-nance within six months after such right of action arises.
13. Well Disclosure. Seller's knowledge of" wells is as follows:
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The Seller certifies that the Seller does not know of any wells on the described
real property,
13 A well disclosure certificate accompanies this document,
I arn 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 it will construct a new single
family 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 the
Minimum Improvements."
R The Minimum Improvements shall consist of a new single family dwelling, and
shall be constructed substantially in accordance with the Single Family Home Lot
Sales Program Guidelines on file at City Hall and the proposal approved by Seller
on March 6, 2017, attached hereto as Exhibit B.
C. Construction of the Minimum Improvements must be substantially completed no
later than one year from the Date of Closing. Construction will be considered
substantially complete when the final certificate of occupancy has been issued by
the City of Columbia Heights building official,
D, Promptly after substantial completion of the Minimurn Improvements in
accordance with those provisions of the Agreement relating solely to the
obligations of the Buyer to construct such Minimum 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, for 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 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 Minimum Improvements and the dates for completion thereof,
The certificate provided for in this Section of this Agreement shall be in such
form as will enable it to be recorded in the proper office for the recordation of
deeds and other instruinents pertaining to the Property. If the Seller shall refuse or
fail to provide any ceilification 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
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5017070 CL205-50
the provisions 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. Tile Buyer represents and agrees that until issuance of the Certificate of Completion
for the Minimum Improvements:
1) Except for any agreement for 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 ally 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 "Transl`er" does not include encumbrances made or
granted by way of security for, and only for, the purpose of obtaining construction,
interim or permanent financing necessary to enable the Buyer to construct the
Minimum hilproverrients or component thereof.
2) If the Buyer seeks to effect a Transfer prior to issuance of the
Certificate of Completion, the Seller shall be entitled to require as conditions to
such Transfer that:
1) 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 the
Buyer as to the portion of the Property to be transferred; 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, and expressly for the benefit of the 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 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
Minimum 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 fullest 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,
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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 rernedies 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 be released from 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,
4) Upon issuance of the Certificate of Completion, the Buyer may
Transf,'er 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
Minimum Improvements only as a single family dwelling, and in the case of an
Owner Occupant, will occupy the Property as a residence, (b) will not rent the
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 from real estate taxes under State law (other than any
portion thereof dedicated or conveyed to the City of Columbia Heights or Seller in
accordance with this Agreernent). The covenants in this paragraph run with the
land, survive both delivery of the Deed and issuance of the Certificate of
Completion for the Minimum Improvements, and shall remain 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
Buyer and prior to receipt by the Buyer of the Certificate of Completion for of the Minimum
Iniproverrients, the Buyer, Subject to Unavoidable Delays (as hereafter defined), fails to
carry out its obligations with respect to the construction of the Minimum Improvements
including the nature and the date for the completion thereof), or abandons or substantially
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5017070 CL205-50
suspends construction work, and any such failure, abandonment, or suspension shall not be
cured, ended, or remedied within thirty (30) days after written demand froin 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 (arid revest in the Seller) the estate conveyed iby 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 part of the Buyer to rei-nedy, end, or abrogate such default within
the period and in the manner 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 the Buyer,
and any assigns or successors in interest to and in the Property, shall revert to the Seller, 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 tenri "Una-voidable 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 ofGod, fire or other casualty to the
Minimum Improvements, litigation commenced by third parties which, by iqjunction or
other similar judicial action, directly results in delays, or acts of any federal, state or local
govenirriental 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 pen-nits 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, management, and resale of the Property or part thereof (but less any
income derived by the Seller from the Property 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 frorn
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 the
Property were not so exempt); any payments made or necessary to be made to
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501707v] CI-205-50
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-orn
attaching or being niade 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 Mirinnurn
linprovenients 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 reiniburse 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 deed
to the Property by the Buyer to the Seller,
18. Time 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 the
date of mailing.
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 this
Agreement.
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 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 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,
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 commissions 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
501 AMA CL205-50
Seller agrees to Indemnify Buyer fbr any and all clairns for brokerage commissions or
finders' fees in connection with negotiations f6r purchase of tile Property arising out of any
alleged agreement or, commitment or negotiation by Seller.
In witness of the foregoing, the parties have executed this agreement on the year and date
written above,
SELLER: COLUMBIA HEIGHTS, ECONOMIC DEVELOPMENT AUTHORITY
By- By
Its P es,i ent Its Executiv'e"Dire&or
The foregoing was acknowledged before me this day o 2017, by4)1 Ltn-lbia I leightsMarlaineSzurekandWalterFehst, the President and Executive Director )f Col m '
Econornic Development Authority, a public body corporate and politic under the laws of
Minnesota,, on behalf ofthe public body corporate and politic.
4NWyPiublic
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5017070 CL205-50
BUYER: T01, L BERGI IOMES, LLC
By:
NMMM M
S&
COUNTY OF ANOKA
Tile f is ackiri cdgecl before ine, this day of--.-, '2017, by
Tollberg Honi LLC, a Minnesota
any, oil behalf f the limit I i Ai Iiity-c(,rnpany.
ALL, Lc'--7NotraPubli
This document drafted by:
Kennedy& Graven, Chartered
470 U.S. Bank Plaza
200 South 6"' Street
MN 55402
10
5017070 C1,205-50
EXHIBITA
to
PURCHASE AND REDEVELOPIWENT AGREEMENT
FORM OF QUITCLAIM DEED
Deed Tax Due: $
THIS INDEN"rURE, between the Columbia Heights Economic Development Authority, aMinnesota, a public body corporate and politic (the "Grantor"'), and , a
Minnesota . ..... . ..... {the "Grantee "). -.- . . . . ......
WITNESSETH, that Grantor, in consideration of the suni of $ and other good
and valuable consideration the receipt whereof is hereby acknowledge-d, does, hereby grant,
bargain, quitclaim and convey to the Grantee, its SLLCcessors 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 "Property"):
Check here if 'Part or all ofthe land is Registered (Torrens) 0
To have and to hold the same, together with all the hereditarrients and appurtenances
thereunto belonging.
It is understood and agreed that this Deed is subject to the covenants, conditions,
restrictions and provisions of all agreement recorded herewith entered into between the Grantor
and Grantee on the — of 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 pen -pitted 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 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 Heights, 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 Minimum
Improvements thereon, as provided in the Agreement,
501707vl CL205-50
Promptly after completion of the Minimum linprovenients 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 (an(] 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 briprovements and the dates for the
beginning and completion thereof Such certification and such deteri-ninabon, 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 Irnproveirients, 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 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 staternent 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 perfmi-n in order to obtain
such certification.
SECTION 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 not limited to
ten-nination 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
hercoL
It is intended and agreed that the above and foregoing agreements and covenants
shall be covenants running with the land for the respective terms 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.
501707v] CL205-50
In amplification, and not in restriction of, the provisions of the Preceding section, it is
intended and agreed that the Grantor shall be deerned a beneficiary of the agreements and
covenants provided herein, both for and in its own right., and also for the purposes of'protecting
the interest of the community 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 time been,
remains, or is an owner of any land or interest therein to, or in favor of, which such agreeni,ents
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 may
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 of Grantee'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 20_ _,
The Seller certifies that the Seller
does not know of any wells on the
described real property.
El A well disclosure certificate
accompanies this document or has
been electronically filed, (if
electronically filed, insert WDC
number:
1 am fa—i-nihWr—with the property
described in this instrument and I
certify that the status, and Dumber of
wells on the described real property
have not changed since the last
previously filed well disclosure
certificate, ert icate.
501707vt 01205-50
COLUMBIA HEIGHTS ECONOMIC
DEVELOPMENT AUTHORITY
By
Its President
By
Its Executive Director
STATE OF MINNESOTA
ss
COUN]"'Y OF ANOKA
On this -.-- day of b0bre ine, a notary public within and f'car
County, personally Marlaine Szurek and Walter Fehst to me personally known who
by ine 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 Marlaine Szurek and Walter Fehst acknowledged said instrument to be
the free act and deed of said Authority.
This instrument was drafted by:
Kennedy & Graven, Charted
470 U.S. Bank Plaza
200 South Sixth Street
Minneapolis, MN 55402
612) 337-9300
5017070 CL205-50
Notary Public
Tax Statements should be sent to:
Ile,. IMam
ME
PURCHASE AND REDEVELOPMEN TAG REEMENT
501707v] CL205-50
Tf
f
I In
PURCHASE AND REDEVELOPMENT AGREEMENT
5017070 CL205-50
CERTIFICATE OF COMPLETION
WHEREAS, the Columbia Heights Econoinic Development Authority, a public body,
corporate and politic (the "Grantor"), conveyed land in Anoka County, Minnesota to TollbergHomes, ,I -C ", a Minnesota limited liability company (the "Grantee"'), by a Deed recorded in the
Office of the Registrar of Titles in and for the County of Anoka and State of Minnesota, as
Document Number-
and
WHEREAS, said Deed contained certain covenants and restrictions set forth in Sections I
and 2 of said Dced; and
WHEREAS, said Grantee has performed said covenants and conditions insofar as it is
able in a manner deemed sufficient by the Grantor to pennit the execution and recording of this
certification;
NOW, THEREFORE, this is to certify that all building construction and other physical
improvements specified to be done and made by the Grantee have been completed and the above
covenants and conditions in said Deed and the agreements, and covenants in Section 15B of the
Agreerrient (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
instrument, to be a conclusive determination of the satisfactory termination of the covenants and
conditions of Section 15B of the Agreement and the covenants and restrictions set forth in
Sections I and 2 of said Deed; provided that the covenants set forth in Sections 15F of the
Agreement, and in Section 3 of the Deed, remain in full force and effect through the period
stated thereon,
Dated: 20
COLUMBIA HEIGHTS ECONOMIC
DEVELOPMENT AUTHORITY
By
Its President
By
Its Executive Director
STATE OF MINNESOTA )
501707vi CL205-50
SS
COUNTY OF ANOKA
The foregoing instrument was acknowledged before me this . .......... day of
201- _., by and the President and Executive
Director, respectively, of the Colun-ibia Heights Economic Development Authority, on behalf of
the authority,
Notary Public
This document drafted by:
KENNEDY & GRAVEN, CHARTERED
470 U.S. Bank Plaza
Minneapolis, MN 55402
612) 337-9300
501707vl CL205-50