HomeMy WebLinkAbout2017-2833.099, . , 1 9 1 111
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PURCHASE AND REDEVELOPMENT AGREEMENT
4201 Jefferson Street NE, Columbia Heights, Minnesota
1. Parties. This Purchase and Redevelopment Agreen-ient is made as of December 4, 2017,
between the COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY, a
public body corporate and politic tinder the laws of Minnesota having its office located at
590 40""' Avenue NF. Columbia Heights, MN (the "Seller"), and Florne Detail, Inc., a
Minnesota corporation, having its principal office at 100f 9 118"' Avenue NE, Blaine, MN
55434 (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 16, Block 32, Columbia Heights Annex to Minneapolis, Anoka County, Minnesota.
Check here if part or all of the land is Registered (Torrens)
J. Acceptance Deadline. This offer to put-chase, unless accepted sooner, shall be null and
void at 4:30 p.m. on December 5, 2017, and in such event all earnest money shall be
refunded to Buyer,
4. Price and Terms. The price for the Property is $35,000 ("Purchase Price") which Buyer
shall pay as follows: nonrefundable earnest money of 52,000 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 February 4, 2018. (60 dqysfiwin date qfthis Agreement)
S. 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.
6. Deed. Upon performance by Buyer, Seller sball deliver a quit claim deed conveying title
to the Property to Buyer, in substantially the forin attached as Exhibit A, subject to the
50939442 (1,205-69
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 2017 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 ofClosing.
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 ofthe 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 Iterns. 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 fbr this Agreement and for the Deed transferring title to Buyer. Seller will
pay all other fees normally paid by sellers, including (a) any transfer taxes, and Well
Disclosure fees required to enable Buyer to record its deed fi-om Seller Linder 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 main to the
Property line. Seller advises Buyer to inspect the condition of the water stub,
10. 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 fbr the purpose 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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509394%,2 (J.205-69
the Seller, in which case the agreement shall be null and void. Seller irtakes no warranties
as to the condition of the Property.
11. Marketability of Title. As soon as reasonably possible after execution of' this
Agreement by both parties:
a) Seller shall surrender any abstract oftitle and a cop), of any owneCs title insurance policy
for the property, it' in Sellers possession or control, to Buyer or to Buyer's designated
title set-vice provider; and
b) Buyer shall obtain the title evidence determined necessary or desirable by Buyer.
The Buyer shall have 20 days front the date it receives such title evidence to raise any
objections to title it may have. Objections not made within such time will be deerned
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 rna.y
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) terminate this Agreement without any
liability on its part upon provision of a quit churn deed to the Property frorn 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 permitted by
law:
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 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 permitted by law:
C. Seek darnages frorn Seller including costs and reasonable attorney's fees;
D. Seek specific performance within six months after such right of action arises
13. Well Disclosure. Seller's knowledge of wells is as f'ollows:
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509394%-2 CL205-69
The Seller certifies that the Seller does, not know ofarty, wells on the described
real property.
A well disclosure certificate accompanies this document,
0 1 am familiar with the property described in this instrument and I certify that the
status and nurnber of' wells on the Property have not changed since the last
previously filed well disclosure certificate.
140 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 pet-sons for residential
occupancy On "Owner Occupant"), This covenant shall SUI-ViVe the delivery of theDeed.
A. The single family dwelling described in this Section is referred to as the
Minirnurtl linprovements,"
B. The Mininium. 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 December 4, 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 oflIcial,
D. Promptly after substantial completion of the Minfirturil, Improvements in
accordance with those provisions of the Agreement relating solely to the
obligations of the Buyer to construct such Minimum Improvements (including thedateforcompletionthereof), 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 tile recordation of
deeds and other instruments per - twining to the Property. If the Seller shall refuse
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
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509394v2 (1,205-69
respects the Buyer has fiffled to complete the Mininiuril In-iproverrients 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 Seller f6r the
Buyer to take or perl"brin in order to obtain such certificatiol-1.
E, The Buyer represents and agrees that until issuance ot'll'ic 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, assigirr'nent, 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 any contract or
agreement to do any of the sarne, to any person or entity (collectively, aTransfer"), without the prior written approval of the Seller's board' of
conirnissioners. The term "Transfer" does not include encurnbrances made 01'
granted by way of' security for, and only for, the purpose of obtainingconstruction, interim or permanent financing necessary to enable the Buyer to
construct the Minimum Improvements orcomponent thereof.
2) If the Buyer seeks to effect a Transfer prior to issuance of the
Certificate of C0111pletiOn, 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 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 wilting
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 01' 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 linprovenrients or any part thereof or the
construction Of the Minirnurn 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
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5093942 ( L205-69
specifically provided otherwise in this Agreernein) no transfer of, or
change with respect to, ownership in the Property or any part thereof', or
any interest therein. however consurninated 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 ftorn 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, frorn 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) 11' the conditions described in paragraph (2) above are satisfied
then the Transfer will be approved and the Buyer shall be released frorn its
obligation, under this Agreement, as to the portion of the Property that is
transfen-ed, 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
Transfer the Property and/or the Buyer's rights and obligations under this Agreement
with respect to such Property without the prior written consent ofthe 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 rent estate taxes
on the Property under State law, and (d) will not transfer or pen-nit 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 ficights or Seller in
accordance with this Agreement). 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 tell
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 pail thereof to the
Buyer and prior to receipt by the Buyer of the Certificate ofCornpletion for of the Minimum
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509394v2 (1,205-69
Improvements, the Buyer, subject to Unavoidable Delays (as herealler defined), hails to carry
out its obligdtions with respect to the construction ofthe Minimum finprovernents (including
the nature and the (late I'm the completion thereof), or abandons or substantially suspends
construction work, and any stich failure, 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 revert in the Seller) the estate conveyed by the Deed to the Buyer, it
being the intent of this provision, together with other provisions of tile 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 die pail of the Buyer
and failure on the pail of the Buyer to remedy, end, or abrogate such def"ault within the
period and in the manner stated in such subdivisions, the Seller at its option ii-lay 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 Properly, shall revert to the Seller, but
only if the events stated in this Section have not been cured within die tirrie 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 Agreen-ient, the term "Unavoidable 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 offiod, fire or other casualty to the
Minirnurn Improvements, litigation commenced by third parties which, by injunction or
other siniflar 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 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 persorfliel, in connection
with the recapture, managernent, and resale of the Property or pail thereof (but
less any income derived by the Seller from the Property or pail 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 from taxation or assessment or such charge during the period of
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509394v2 0,2o5-69
ownership thereof b the Seller, an amount, if' paid, eqUal to Such taxes,
assessments, or charges (as detenuined by the Seller assessing official) as would
have been payable if the Property were not so exerript); any payments made or
necessary to be made to discharge any c,rwUinbranccs or liens existing on the
Property or part thereof at the tIrne of revesting of title thereto in the Seller or to
discharge or prevent from attaching or being, made any subsequent encullibrances
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 MimMUrn 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
b) Second, to reimburse the Buyer for the balance of the purchase price reiriaining
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 ofinalling.
20. Minnesota Law. This contract shall be governed by the laws of the State of Minnesota.
21. Specific Performance. This Agreement may be specifically eriffirced 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 Set lei, 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 fi-om 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 shalt pay all recording costs.
509394%12 C1,205-69
25. No Broker Involved. The Seller and represent and warrant to each other that there is no
broker involved iti t1ris transacti0f) With WhOul it has negotiated or to whom it has agreed to
pay a broker corrimission. Buyer agrees to indernnify Seller R)r any and all clairris lot-
brokerage corninissions or, finders' fees in connection with negotiations for purchase of the
Property arising out of any alleged agreement or cornniiinient or negotiation by Buyer, and
Seffer agrees to indemnify Buyer for any and all claims f'or brokerage commissions or-
finders' fees in connection with negotiations for purchase ol'the Property arising out cif any
alleged agreement or cornmitinent or negotiation by Seller.
In witness of the foregoing, the pat-ties have executed this agreement on the year and date
written above,
ot,
By yB AW
Its re 'dent Its Executive Director
51'
STATE OF MINNESOTA i DI LYN GRIFFIN
I ss, Notary Publk-,Minnesota
COUNTY OF ANOKA My m"an Ex&W A031 Z"M
The foregoing was acknowledged bef6re true this ____ day of' December, 2017, by
Marlaine Szurek and Walter Fehst, the President and Executive Director of Columbia Heights
Economic Development Authority, a public body corporate and politic under the laws of
Minnesota, on behalf of the public body corporate and politic.
N, aryPubli
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509394v2 (1.205-69
BUYER: 110ME DETAIL, INC.
m
COUN,ry OF ANOKA
rhe foregoing was acknowledged before me this q4A
day of December, 2017, by
fA- the of Home Detail, Inc., a Minnesota
cojroj_at ion, on chalf of the corporation.
This document drafted by
Kennedy & Graven, Chartered
470 U.S. Bank Plaza
200 South 6"' Street
Minneap olis,, MN 5540211 - ------ 1111 -
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509394v2 CL205-69
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to
PLIRCHASE AND REDEVELOPM ENT AGREEMENT
FORM OF QUITCLAIM DEED
Deed Tax .Due: $
THIS INDENTURE, between the Columbia Heights Economic Development Authority, a Minnesota, a public body corporate and politic (the "Grantor"), and Home Detail, Inc., a
Minnesota corporation (the "Grantee").
WITNESSETH, that Grantor, in consideration of the sum of $35,000 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 "Property"):
Checic here (t art or all qfthe land is Regristered (7orrens' L-jir, j
To have and to hold the same, together with all the hereditan"IeWS 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 —1 20—, identified as "Purchase and
Redevelopment Agreement" ("hereafter reterred 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, shall in no way prevent the Grantee from mortgaging this Property in order
to obtain finids 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 ofthe 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.
5093'94v2 CL205-69
1?1'01110y after cornpletion of the Millilnun-i Improvements in accordance with the
provisions of the Agreement, the Grantor will furnish the Grantee with an apf.)ropriate instrut'nent
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 terinination of the agreernents
and covenants of the Agreernent and of this Deed with respect to the o,blio ' ation of the Grantee,
and its successors and assigns, to construct the Minimum lrnprovements and the dates for the
beginning and completion thereof Such certification and such determination shall riot constitute
evidence of compliance with or satisfaction of any obligation of the Grantee to any holder of
inoilgage, or any insurer of a mortgage, securing money loaned to finance the purchase of the
Properly hereby conveyed or the Minimum Improvements, or any pail thereof.
All certifications provided for herein shall be in such fon-ri 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 Mirthriurri 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 perform in order to obtain
such certification.
SEC'"I'10N 2.
The Grantee's rights and interest in the Property are subject to the terms and conditions
of'Sections 15, 16 and 1.7 of the Agreement relating to the Grantor's right to re-enter and revest
in Grantor title to the Property Linder conditions specified therein, including but not limited to
termination of such night 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 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.
509394v2 (1-205-69
In arnplification, and riot in restriction of' ' the prox,isrons of the preceding secii(jil, it is,
intended and agreed that the Grantor shall be (1cen-ied 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, flavor or f'()r
lose benefit these agreements and' covenants have been provided. Such agreernerits and
covenants shall run in favor of the Grantor without regard to whether the Grantor has at any time
been, remains, or is air owner of any land or interest therein to, or in favor of' which such
agreements and covenants relate, The Grantor shall, have the right, ill the event of any breach of
any such agreement or covenant to exercise all the rights and reniedies, 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 railure 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 fl .
0 The Seller certifies that the Seller-
does not know of any wells on the
described real property.
A well disclosure certificate
accompanies this document or- has
been electronically filed. (if,
electronically filed, insert WDC
number: ).
Ell I 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,
5,09394v2 CL205-69
COI - UMBIA HEIGHTS ECONOMIC
DEVELOPMENT AUTHORITY
By
Its President
By
Its Executive Director
STATE OF MIN NESOTA
ss
COUNTY OF ANOKA
On this day of'-.. ___,20 bef'ore ine, a notary public within and for
County, personally appeared and
per -sonally known who by me duly sworn, did say that they are the President and ExecutlVe
Director of the Columbia Heights E"conomic Development Authority (tile "Authority") narned in
the foregoing inSuIlment; 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 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
509394v2 car 205-69
Notary Public
Tax Statements should be sent to,
in
PURC14ASE AND REDEVELOPMENT AGREEMENT
Ulay
09394v2 (1,205-69
PROPOSAL FORM
Q,Phntixe dr1I ondwbma the this lection andsubmit it to ethe Cs,niffninity Developowent Department
PROPERTYADDRESSII-11- ( J J4'
CHECK ONE: )
QV)XIII
BUILDER OFFERS $ 3 C, ,
j _ TO PURCHASE THB LOT
BUiLDER OFFIEkS $1,000 FOR A SIX ill OPTION TO PUROMSE THL5 LOT FOR $
Ihl,, Pv 000',id Is I101 a pu,chal e,,lgrevrinerlt o other owra Z At thr 1, rne, I ftkplijel i, ,ubrTtI1tIl,jgj
propw,a Itopvjll&asethIs k tand bulid Is ris-w slnl& Iarrfflyhcaj a& ir"i au r, cidance wIttv the RFF, GwdIl ci i5
YLCI tiog a siix- monilh ophonfor the saffle
0 a budder',, pv,opo5aa i ten ta t eily acicrj,'lh1s1 by the FDA Board, then FDA 5zafl would workwith the Bull(I t,4t
determine tfip sp,,<jflc earl-ovnt 0 at ffie nW CDA meebnI If the EDA boaydgIves finol appiIcva ilt
Ulat tiox-, the I Ws 14 cfiVs tlt„ sigry a Purchase& Redeveloplrwlit ftpee"lilni, avid provtdv, $2,000ealne5t
yrrorlf-, for ffw liot Gnlyaftw suc h Vrllerremt I,, Ognedandearnest rnonef, paldwcluW a frini-fitgcontracrt exj9t
between the FDA avid Bwhjer, ,
Bulideis rnayipurchasea 6-mwith opipon cin a l0t fOT $1,000, rentmable flvr all Oddlticn46 G morl0is fov ,in
additiclnaa $500 TT eoption providies the hUdC1r,!-r With (IXCWSMa fIg lotancl buikl a hcwesublWrjorrChaSftjp
to the rporvrldl EEPA prort-,,s rtx UITerlwllus and guidelines Asa cvw,Mtiurlvat vlt°, opoor, the bupidev, tnust lisithe loo
w6th LI V) be bulIf house on the MtS for hw du woos of the optlarv. Tfre nurnber clf ophorrs Is llh)Ited No bulldIl
may have cvptron On move than 25% of the Program's llsts
BUH DER (Bwtder ow rrqWred to be a Re6Il(/evrlrv,7f 8ullding co'nracror by the .5rate 01 MuMeSofa
0. 1 ."_ C V,,o "3StatelIcenst, Nurnbor
i i -/It, tAQ , , Phrine" AdII
CIty"II zp P.,
web,,
REQUIRED AT FACHMENTS ANDADOMONAL INFORMATION:
Attar - irr c)riiL,repres(,ntativeexaznpleO,,) house you woIjld 1p9an to tivoild an thIS tot ifyClUr
noIt need to showexacldvhow 11w old be pIlacecionVive to
w hcradr the app7oxiirnatesIze, qwilityanclifeatures VIOL, would arltrcipotea new housp, would &I oe thIs Uot,
after frDA
The EDA ii
th4' addresses ofttlrN housesvou have bUIlIl&rkMInrI wikhinthe rastfivpyrears,or attach other
evIdence Of CiLIONfiCafiDe f0l' rPlMeWlOy ljae MA
Hcfu e 91
House #2. -46 a Pi jr',' wel
House "1,
509394v2 C1,205-69
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PURCHASE AND RED EVELOPMENTAGREEM ENT
FORM OF CERTIFICATE OF COMPLETION
509394x2 CL205-69
CER'll`IFIC.ATE OF COMPLETION
WHEREAS, the Columbia Heights Economic Devel0pluent, Authority, a pub lic body,
corporate and politic (the "Grantor"), conveyed land in Anoka County, Minnesota to Home
Detail, Inc., a Minnesota corl.)oration (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 of Anoka
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 ot'said Deed; and
WHEREAS, said Grantee has performed said covenants and conditions insofar as it is
able in a manner deemed sufficient by the Grantor to permit 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
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 fbi- 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 1513, of the Agreernent 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
509394v2 (1,205-69
STATEOF Per INNF SOTA
COUNTY OF ANNK.A
The fioregoing instrument was acknowledged before me this -
I—...-.-- (lay of,
and Executive Director, respectively, of the Columbia Heights Economic Development
Authority, on behaffof'the authority,
Notary Public:
This document drafted by:
KENNEDY & GRAVEN, CHARITRED
470 U.S. Bank Plaza
Minneapolis, MN 55402
612) 337-9300
509394v2 01,205-69