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HomeMy WebLinkAbout07/28/1992 (111 TENTATIVE AGENDA HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF SHAKOPEE, MINNESOTA Adjourned Regular Meeting July 28 , 1992 1. Roll Call at 8 : 00 A.M. 2 . Consideration of acceptance of proposals for real property sale 3 . Other Business a) Discussion on Real Estate exclusive right to sell listing agreement submitted by Jane DuBois. b) Plit ) fr) DV•Q/ 1 ,44 4. Adjourn J Dennis R. Kraft Executive Director CITY OF SHAKOPEE j ‘c; INCORPORATED 1870 129 EAST FIRST AVENUE, SHAKOPEE, MINNESOTA 55379-1376 (612)445.3650 4.4y July 24, 1992 The Honorable City Council City of Shakopee 129 East First Avenue Shakopee, MN 55379 Mayor Laurent has notified me, Judith S. Cox, City Clerk of the City of Shakopee, that a Special Session of the City Council will be held at 8 : 15 A.M. on Tuesday, July 28 , 1992 for the purpose of considering actions on the following matters: 1. Amending Resolution No. 3626, which resolution vacated a portion of the right-of-way along East 10th Avenue between CR- 17 and 140 ' West of Merrifield Street. 2. Amending Resolution No. 3639, which resolution awarded bids for Apgar, 2nd Avenue, and Pierce Street, Project No. 1992-6. 3 . Any other business which may come before the City Council. Respectfully, Judith S. Cox City Clerk CC: Shakopee Valley News Cable Company KCHK City Hall Bulletin Board JSC:trw The Heart Or Pro '; . T -1ile•/ i.ti l,itli 1% nil till :;l Al►:;111JAIJ(:1A1. NI.!WORK 11- 4 LISTING AGREEMENT K EXCLUSIVE RIGHT TO SELL illeR #3 A, . Ihis is a Listing Agreement(the"Agreement")covering the property at See Attached Addend- 1. Definitions: - -. . -- -- --- — ------ a. "I" nneama_-_Cit. of Shakopee Housing and Redevelopment Authority w?/4 ;o e- - a- -r-__ p �Ek' ."You" means Coldwell Banker -------- --- 2. Listing. 1 give you the exclusive right to sell or contract to sell the propeity for the price of$ See Attached I will sell the property on the following terms: -- -------------- ASH -this Agreement begins on_ July 21 , 19 9 2,and terminates at 11:59 p.m.o'clock on January 2119 9 2 3. My Duties and Obligations. I will cooperate with you in selling the property.I have complete ownership of the property and permit you to place a"for sale"sign and lock box with keys on the property.I will keep you informed of new information important to the sale of the property. As of this bate„I have no knowledge of and have received no notice of any of the following relating to the property: 1.f inposerl or any,evert repairs or improvements which could result in a special assessment against the property; 2.Violation of any building,safety or zoning law or regulation; 3.The existence of any hazardous wastes stored or disposed of on the property;or 4.Any restrictions on my right to sell the property. Exceptions to 1-4 above: _S_e_-1i_ting_ addendum attached hereto and made apart hereof If I receive any information which changes my response to numbers 1-4 above,1 will promptly notify you.I will also promptly tell you of all inquiries I receive about the property. I agree to provide and pay for any inspections or reports required by the city or state.If the property is a condominium or townhouse,I will provide the documents required by law. If the property is sold,I will give the buyer an updated Abstract of Title,or Owner's Duplicate Certificate of Title and Registered Property Abstract.I will sign all closing documents(including a Warranty Deed or Contract for Warranty Deed)necessary to transfer to the buyer full and unquestioned ownership of tile property,and I will pay all normal closing costs including any closing company fees,abstract fees, and attorney's fees for services I require in connection with the sale. I understand that I may not refuse to sell,or discriminate in the terms,conditions or privileges of sale,to any person due to their race,color, creed, religion, national origin, sex, marital status,status with regard to public assistance,disability, family status or other protective status.lam not a"foreign person",as defined by the Foreign Investment In Real Property Tax Act,end 1 will provide an affidavit so stating, if necessary. 4. Your Commissions arid Duties. NOiICE.: 111E. COMMISSION RATE FOR THE SALE, LEASE, RENTAL OR MANAGEMENT OF REAL PROPERTY SItALL BE DETERMINED BETWEEN EACH INDIVIDUAL REAL ESTATE BROKER AND ITS CLIENT. I will pay you as your commission 5 • 8 %of the selling price of the property plus a set up fee of$95.00 if I sell or agree to sell the property before this Agreement ends. You agree to use your efforts to sell the property at the price and on the terms set out in this Agreement and arrange for the closing,upon sale of the property.If,before this Agreement ends,you present a buyer who is willing end able to buy the property at the price and on the terms required by this Agreement,but I refuse to sell,I will pay you the same commission. I agree to pay your commission whether you,I,or another broker sells the property.I agree to pay your commission In full if any of the following happen:(i)The closing of the sale of the property;(ii)My refusal to close on the sale of the property;or(iii)My refusal to sell at the price and on the terms provided in this Agreement. If within one hundred eighty(1R0)days after termination of this Agreement,I sell or agree to sell the property to anyone who,during this Agreement:(i)Asked me about tile property and I did not tell you about the inquiry;or Iii)Made an affirmative showing of interest in the property or was physically shown the property by you,then I will still pay you your commission on the selling price,even if I sell the properly without your assistance.1 understand that I will not he liable for a commission during the one hundred and eighty day period referred to above if your enter into a valid listing agreement which obligates me to pay a fee or commission to another licensed broker for the sale,lease or exchange of the property. To secure the payment of your commission,I hereby assign to you the proceeds from the sale of the property in an amount equal to the commission due you under this Agreement and Instruct the closer of this transaction to pay such proceeds directly to Coldwell Banker. In the event you take any legal action to collect any commission due under this agreement,I agree to pay all attorney's fees and costs you incur. I authorize you to disburse part of your commission to other real estate brokers,including brokers representing the buyer,as you deem appropriate. 5. Notice Regarding Closing Agent. No real estate salesperson,broker,attorney,auctioneer,builder,title company,financial institution,or other person making a mortgage loan may require a person to use any particular licensed attorney,real estate broker,real estate salesperson,or real estate closing agent in connection with a residential real estate closing. El _ I want you to arrange for closing services. (wenn U�_ _ I want to arrange for others to conduct the closing. (Inilieq If 1 choose to have you arrange for closing services,you will select ,which is not a closing company with which you have a controlled business arrangement,i.e.,you are neither affiliated with the company nor have an ownership interest in the company.1 agree to pay$ 100•00 for these services(rate subject to change by the closing agent before the sale is placed with that agent). I understand that a real estate broker, real estate sales person, or real estate closing agent has not and, under applicable State law, may not express opinions regarding the legal effect of the closing documents or of the closing itself. By its: •' _--- Mayor Coidwell Banker / 477-7.0j.g_Az_l . By its:---- .'t„� i•ai 'sesAssociate � City Administrator k/ inistratorY Date signed: -__ .._1471Z,i 19 �'' By its: -97 — City Clerk WOULD SELLER LIKE RELOCATION INFORMATION ON DESTINATION CITY? Yes U No EI Owner (signature) : Shakopee PIRA By its: Cam 1164(Rev. 4/92) nawAI o nim,aer.m .xw,.e.u'J n-.0 t w.In K1,1 Cha.l r t1 P_r S U Il By its: Executive director ' 005'ZZI$ :e3T.d 3STZ '0-VVT906-LZ '0-Ii£T906-LZ '0-££T906-LZ '0-Z£T906-LZ S. # QId ' £ ' 006 '6£# :90-Pd 49T1I '0-£ZOL60-LZ# QId uoTgTppV puooes AaoeI 'y goi4nO ' Z ' 006 '17Z$ :eDT2Id 4sTZ 0-680T00-LZ# QId aadoxegs 3o A4T3 'L xpoTH 'OT Pue 6 '8 S OZ ' T :slapaed buTMoTTo; agp sapnTouT 143TgM SeWOH 4sag Jaxueg TTaMpIop pue aadoxegs 3o d4Tj s2aTTas uaaMgaq Z66T 'TZ ATnr pap guauaazby buT4sTZ 0-4 wnpuappV V SIHIHX3 TENTATIVE AGENDA SPECIAL SESSION SHAKOPEE, MINNESOTA JULY 28, 1992 Mayor Gary Laurent presiding 1] Roll call at 8 : 15 a.m. 2] Accept the Special Call of the Mayor 3] Amending/Rescinding Resolution No. 3626, which resolution vacated a portion of the right-of-way along East 10th Avenue between CR-17 and 140 ' West of Merrifield Street - Res. No. 3641 4] Resolution No. 3640, A Resolution Rescinding Resolution No. 3639, A Resolution Accepting Bids On Apgar Street, 6th Avenue To 1st Avenue; 2nd Avenue, Between Atwood Street And Pierce Street; And Pierce Street, Between 2nd Avenue and 3rd Avenue; Project No. 1992-6 5] Other Business 6] Adjourn Dennis R. Kraft City Administrator MEMO TO: Dennis R. Kraft, City Administrator PROM: Lindberg S. Ekola, City Planner RE: Amending Resolution No. 3626 Vacation of a Portion of the 10th Avenue Right-Of-Way Between County Rd. 17 and 140 Feet West of Merrifield St. DATE: July 27 , 1992 INTRODUCTION: At the recent City Council meeting staff discovered a major problem with the 10th Avenue vacation. Staff is requesting that the City Council consider amending or rescinding the resolution for this vacation. BACKGROUND: At the July 21, 1992 meeting, the City Council passed a motion approving Resolution No. 3626 which vacated a portion of the 100 foot 10th Avenue Right-of-way east of County Rd. 17 . As presented to the City Council, the intent of the vacation was to return the excessive right-of-way to property owners on both the north and south sides of 10th Avenue. Exhibits A, B and C illustrate the portion of 10th Avenue which were vacated. DISCUSSION: When right-of-way is vacated, the vacated land is returned to the property or properties from which it was originally dedicated. In the process of completing the vacation for 10th Avenue, it was discovered that the entire 100 foot right-of-way was dedicated by the plats on the north side (Scenic Heights 1st and 2nd Additions) . Scenic Heights 3rd Addition was platted up to the south edge of the then platted 100 foot wide 10th Avenue right-of-way. No additional right-of-way was necessary for Scenic Heights 3rd Addition. As drafted and approved on July 21st, Resolution No. 3626 would give the nine lot owners on the north side of 10th Avenue additional land on both the north and south sides of 10th Avenue. This is not the desired intent of the recent vacation. The task of reducing the excessive right-of-way width (100 feet) for this portion of 10th Avenue is still a noteworthy effort. As identified in the Comprehensive Plan, this portion of 10th Avenue is intended to remain a local street and the 100 foot right-of-way is excessive. To return the excessive right-of-way to property owners on both sides of 10th Avenue as was desired, a quick claim deed needs to be signed by each of the nine lot owners on the north side of 10th Avenue for those adjacent portions of land located on the south side. These portions would be deeded (quit claim deed) to the appropriate south side property owners. Staff can prepare the necessary deeds upon request to transfer the land to the intended south side property owners. Action on the recently approved resolution is necessary at this time to correct this situation. Staff has listed two alternatives below. ALTERNATIVES: 1. Rescind the approval of Resolution No. 3626. 2 . Amend the resolution to vacate only the north portion of the right-of-way for 10th Avenue. STAFF RECOMMENDATION: Staff recommends that the City Council rescind approval of Resolution No. 3626 at this time and direct staff to prepare the nine quit claim deeds to transfer the appropriate portions of vacated 10th Avenue right-of-way to those appropriate property owners on the south side. Once all deeds are signed staff will return a new resolution to the City Council for approval of the 10th Avenue vacation as originally intended. ACTION REQUESTED: Offer Resolution No. 3641, A Resolution rescinding Resolution 3626 which vacated a portion of the 100 foot 10th Avenue lying north of a line 33 feet from the centerline and south of a line 33 feet from the centerline, between County Rd. 17 and 153 . 32 feet east of Miller Street, while reserving drainage and utility easements on the vacated right-of-way; direct staff to prepare the appropriate deeds for the appropriate transfers of portions of right-of-way on the south side of 10th Avenue; and move its adoption. EXHIBIT A. .1:.- z 5'a.. .. . :: • � ` ,'.•... \\ `• ._... t .. —.�...—..�-._ • —.« --•--' ._� �.. .._. - 1 t' :.i 1 • `fit~i �\ �` — - _� ,..4 7. _—.1 - • .....k 7 . es\\ • - ,--..,--, _ - i 4 7----41 - ._. —_'_b Li `_� I-, �1 L_i •--end ✓ 4:-.., 44.2i' ' • Val ; • ,• � I a t i © l �_ ( � r.an w. Y 1: :. �,.�� �� wawa Y ..t AG AGRICULTURE T"" ........:e: R 1 RURAL RESIDENTIAL ;..7--•,•• '� (,!q-ii �'' R4 — ]al - R2 URBAN RESIDENTIAL `-. ; """'" : "� ^' R3 MID-DENSITY RES. .11 7; R4 MULTI FAMILY RES. . ...,777,7-,.., 'I - 3 1 HIGHWAY BUSINESS B 1 - t'• -1.62 COMMUNITY BUSINESS _- -�-- 2 i r;: =. _ 83 CENTRAL BUSINESS -- 11 LIGHT INDUSTRIAL 12 HEAVY INDUSTRIAL _ - - - " S SHORELAND - FLOODPLAIN DISTRICT _-- i -- MANDATORY PUD -- -• k RTD RACETRACK DISTRICT- - - Zoning Map City of SHAKOPEE ...d -...1 1 1EXffiBITB .-c ,11/4. T C .13/ \ • -r •1 j ..:viii..... �� n CD gill 1 i -' 4 S 1. j ' ! ! _ 4:4 I : 1 1 IN!:::::A.:.::g rri, RAMJEYi ,.':: : Sr. r M/ L h' :i;'4111111111, W 1 • r; .4:„......:„.:::.„1 ‘.... .1,1 colt • .:.:.:.:i:i1:.:..t.,..i..;:.tt t..i*:.:...:±..::1 c. ...A j 1 IJV IELD -R - 4141, T. - 1 I 1t # I A 4 . e 1 I , . 1 1 I 1 i • 0 �; l'°` EXHTRIT C — .!1 , . i ' .way•e• \\ 1 1 1 ,1 I I 11j ►i i • %� ., . / --. - . 4i Imo. .•..4 11/2.,/ I 3a4 128 I � .I _-\ • 4k, 4 i ii �� �� , - i r ' MI al.$01 124 \ n -• ; • ,• t �� 1 ....... , lb.INN_ , wpm mum =poi inn ir-o it . i Emu mow 1 maw- ��: '/AWE 11111tEr �' lutis.* Cly 4 �w �' Ei •', /,IAA,_, \�= �G s ' ' NM ENE ! •il C_J moll v� �!F �• � L • , . I ,•A•.1 • , , of � ��w�� �7.*: lir sII l i 10 9 � '� �'- IS* 21421.02 4 ......pownwripArop,, ill 40 al Om . .**3)01.* „. ,iicatIV4P 10 31 s . . --iv - 'i► ! r I MIR c. iall i rra *-.:4 ft. L ]I • I r I 5: • 138 _ ;� 145 �' .`` J Dano.• • ' ' :.1 ,"t• --------.�--_— I : i ftp,41,1•6 0,1) I wrtor • 1 1 _ i ... .0'' .... Re A i nic. fekt i _ _ - . __ __. . , 1:- scs...„. s • ts hi. . . 27 3 1 fcogit ifsC' Afu_iA 3415 vk He A q RESOLUTION NO. 3641 A RESOLUTION RESCINDING RESOLUTION NO. 3626, WHICH VACATED THE PORTION OF THE 100 FOOT 10TH AVENUE RIGHT-OF-WAY LYING NORTH OF A LINE 33 FEET FROM THE CENTERLINE, AND SOUTH OF A LINE 33 FEET FROM THE CENTER LINE, BETWEEN C.R. 17 AND 153 .32 FEET EAST OF MILLER STREET, WHILE RESERVING DRAINAGE AND UTILITY EASEMENTS ON THE VACATED RIGHT-OF-WAY WHEREAS, a 100 foot right-of-way has been dedicated for 10th Avenue between C.R. 17 and 153 . 32 feet east of Miller Street; and WHEREAS, it has been made to appear to the Shakopee City Council that a portion of the aforementioned right-of-way serves no public use or interest; and WHEREAS, the public hearing to consider the action to vacate was held in the Council Chambers of the City Hall in the City of Shakopee at 7 : 00 P.M. on the 21st of July, 1992 ; and WHEREAS, two weeks published notice has been given in the SHAKOPEE VALLEY NEWS and posted notice has been given by posting such notice on the bulletin board on the main floor of the Scott County Courthouse, the bulletin board at Shakopee Public Utilities, the bulletin board at the U.S. Post Office, the bulletin board at the Shakopee Public Library, and the bulletin board in the Shakopee City Hall; and WHEREAS, all persons desiring to be heard on the matter were given an opportunity to be heard at the public hearing in the Council Chambers in the City of Shakopee; and WHEREAS, after the Council meeting of July 21st but prior to recording of the vacation staff discovered that all the right-of- way for 10th Avenue was dedicated in the platting of the subdivision to the north of 10th Avenue; and WHEREAS, if right-of-way is vacated on the north or the south side of 10th Avenue it all will revert to property owners to the north side of 10th Avenue, limiting the access to 10th Avenue for the owners of lots to the south. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE, MINNESOTA: 1. ) That it finds and determines that the vacation hereinafter described is not in the public interest. 2 . ) That Resolution No. 3626 is hereby rescinded in its entirety. Adopted in session of the City Council of the City of Shakopee, Minnesota, held the day of , 1992 . Mayor of the City of Shakopee ATTEST: City Clerk APPROVED AS TO FORM: City Attorney MEMORANDUM TO: MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: Karen Marty, City Attorney DATE: July 27, 1992 RE: Resolution No. 3640, rescinding Resolution No. 3639 and rejecting bids for Apgar Street. At the July 21 City Council meeting, the Council accepted the bid of one bidder for the Apgar Street project, as part of the consent agenda. This project included drainage work along Foothill Trail. Later in the Council meeting the City Council discussed the Foothill Trail project, and decided not to do it at this time. We need to rescind the bid acceptance, and reject all bids. Our bid specifications provide that they incorporate by reference the state highway specifications. Those specifications include a provision that the contract is not effective until all copies are signed. We are unable to sign this contract now, due to this change in direction which staff did not anticipate. Therefore, this matter is being brought back to the City Council to rescind the action previously taken, and reject all bids. Staff will then rebid the projects separately, and get the Apgar project going. The Director of Public Works has indicated that we still may be able to have the Apgar Street project completed this year. The Foothill Trail project will be saved for another time. Signed Karen Marty, City Attorney cc: Dennis Kraft, City Administrator Dave Hutton, Director of Public Works RESOLUTION NO. 3640 A RESOLUTION OF THE CITY OF SHAKOPEE, MINNESOTA, RESCINDING RESOLUTION NO. 3639, WHICH ACCEPTED BIDS ON APGAR STREET, 6TH AVENUE TO 1ST AVENUE; 2ND AVENUE, BETWEEN ATWOOD STREET AND PIERCE STREET; AND PIRECE STREET, BETWEEN 2ND AVENUE AND 3RD AVENUE; PROJECT NO. 1992-6, AND DIRECTING STAFF TO READVERTISE FOR BIDS. WHEREAS, on July 21, 1992, the City Council adopted the Consent Agenda early in its meeting, which included Resolution No. 3639; and WHEREAS, the consent agenda included Resolution No. 3639 , accepting bids on Apgar Street, 6th Avenue to 1st Avenue; 2nd Avenue, between Atwood Street and Pierce Street; and Pierce Street, between 2nd Avenue and 3rd Avenue; and WHEREAS, this project also included a drainage project on Foothill Trail; and WHEREAS, the Foothill Trail project was discussed later at the same City Council meeting, and the City Council decided not to proceed with that project at this time; and WHEREAS, the bids for Apgar Street and Foothill Trail were integrated and not separated, and therefore the Foothill Trail portion may not be removed without rejecting all bids. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SHAKOPEE, MINNESOTA, AS FOLLOWS: That Resolution No. 3639, accepting bids on Apgar Street, 6th Avenue to 1st Avenue; 2nd Avenue, between Atwood Street and Pierce Street; and Pierce Street, between 2nd Avenue and 3rd Avenue; Project No. 1992-6 is hereby rescinded in its entirety. All bids for this project are rejected. Staff is directed to revise the specifications to delete the work on Foothill Trail and rebid the project. Passed in session of the City Council of the City of Shakopee, Minnesota, held this day of , 1991. Mayor of the City of Shakopee Attest: City Clerk Approved as to form: City Attorney V � VACANT LAND PURCHASE AGREEMENT BAN Keit 0 This form approved by the Minnesota Association of REALTORS" Minnesota Association of REALTORS' disclaims any liability arising out of use or misuse of this form. 1. Date July 21 , 1992 2. Page 1 of 3 Pages 3 RECEIVED OF _ Monnens Custom Builders , Inc. 4.the sum of five hundred and no/100 Dollars ($ 500 . 00 5. by CHECK-CASH-NOTE as earnest money to be deposited upon acceptance of Purchase Agreement by all parties,on or before the next tc 7br 6 business day after acceptance,in a trust account of listing broker but to be returned to Buyer if Purchase Agreement is not accepted by 7. Seller. Said earnest money is part payment for the purchase of the property located at: Market Street 8 _ g- city of Shakopee _ , Countyof Scott , State of Minnesota, 10. legally described as: Out lotA, Macey 2nd Addition 11. 12. including the following property,if any,owned by Seller and located on said property all garden bulbs,plants,shrubs and trees;and also the following 13 personal property: 14. all of which property Seller has this day agreed to sell to Buyer for the sum of: $35 , 000 .00 15. _. Thirty-five thousand and no/100 ($ 35, 000 . 00 ) Dollars, 16 which Buyer agrees to pay in the following manner: Earnest money of $ 500 .00 and $ 34 , 500 ..00 17.cash on or before August 30, 1992 the date of closing, and the balance of $ -0- 1a by financing in accordance with the attached financing addendum: 19.Assumption _Contract-for Deed Conventional Purchase Money Mortgage Other _ 20.SPECIAL CONTINGENCIES: This Purchase Agreement is subject to the following contingencies and if the following contingencies checked below 21.cannot be satisfied or waived, in writing, by Buyer by August 14 , , 1992 this Purchase Agreement shall.,become null 22. and void and all earnest money shall be refunded to the Buyer. Buyers and Sellers agree to sign a cancellation of the Purchase Agreement. _ t 23 (Select appropnat a-h) - 24. ; (a) BUYER SELL ).hall provide a certificate of survey of the property, at BUYER/ ELLER xpense, not later than 25. , 19__ - • - 26 i : (b) Buyer obtaining approval of city/township of proposed building plans and specifications UYE ELLER expense. 27. I (c) Buyer obtaining approval of city/township of proposed subdivision development plans a BUYEB`'SELLER expense. 28. [7 (d) Buyer obtaining approval of city/township for rezoning or use permits at UYER ELLER expense. 29. O (e) Buyer obtaining BUYER SELLER expense, percolation tests which are acceptable to Buyer. • 30. L (f) Buyer obtaining ` �`'YEERR SELLER expense, soil tests which indicate that the property may be improved without extraordinary building 31. methods or cost. 32. i I (g) Buyer obtaining approval of building plans andtbr specifications in accordance with any recorded subdivision covenants and approval of 33 the architectural control committee. 34. (h) OTHER: - 35 36 Seller's expen sce for these contingencies (if any) shall not exceed $ NLA 37 Seller grants permission of access to the property for testing and surveying purposes. 38. PLEASE NOTE: Buyer may incur additional charges improving the property including but not limited to: Hook-up andkx access charges, municipal 39. charges, costs for sewer access, stubbing access. water access, park dedication, road access, utility connection and connecting fees, curb cuts 40.and tree planting charges. 41.To the best of the Seller's knowledge there are no hazardous wastes, abandoned wells, or underground storage tanl' , except as herein noted. 42.SPECIAL WARRANTIES: Seller warrants that the property described in this Purchase Agreement consists of 43 _- 27 , 663 - __-_ ACRES /SQUARE FEET and is currently zoned R-2- -_ _ . • 44.Seller warrants that the property IS/ SNOT the designated 100 year flood plain area. 45 Seller warrants that the property DOES ESN ive preferential tax treatment (i.e., Green Acres, etc). 46 Attached are other addenda which are made a part of this Purchase Agreement. (Enter page or pages on line 2) 47. DEED/MARKETABLE TITLE: Upon performance by Buyer, Seller shall deliver a tit a i k e t a b 1.e Warranty Deed joined 48 in by spouse, if any, conveying marketable title, subject to: 49.(A) Building and zoning laws,ordinances,state and federal regulations; (B) Restrictions relating to use or improvement of the property without effective 50.forfeiture provisions; (C) Reservation of any mineral rights by the State of Minnesota; (D) Utility and drainage easements which do not interfere 51.with existing improvements; (E) Rights of tenants as follows (unless specified, not subject to tenancies): 52. - - 53 (F) Others (Must be specified in writing): 54.TITLE & EXAMINATION: Seller shall, within a reasonable time after acceptance of this agreement, furnish an abstract of title, or a registered 55 property abstract, certified to date to include proper searches covering bankruptcies, state and federal judgments and liens, and levied and pending 56 special assessments. Buyer shall be allowed 10 business days after receipt of abstract for examination of title and making any objections which 57.shall be made in writing or deemed waived. If any objection is so made, Seller shall have 10 busincsc days from receipt of Buyer's written title 58 objections to notify Buyer of Seller's intention to make title marketable within 120 days from Seller's receipt of such written objection. If notice is 59.given, payments hereunder required shall be postponed pending correction of title, but upon correction of title and within 10 days after written notice 60. to Buyer the parties shall perform this Purchase Agreement according to its terms. If no such notice is given or if notice is given but title is not 61.corrected within the time provided for; this Purchase Agreement shall be null and void, at option of Buyer; neither party shall be liable for damages 62. hereunder to the other and earnest money shall be refunded to Buyer; Buyer and Seller agree to sign cancellation of Purchase Agreement. Buyer 63 agrees to accept an owner's title policy in the full amount of the purchase price in lieu of an abstract of title if the property is subject to a master 64.abstract or if no abstract of title is in Seller's possession or control. If Buyer is to receive such policy(1)the title examination period shall commence 65 upon Buyer's receipt of a current title insurance commitment and (2) Seller shall pay the entire premium for such policy if no lender's policy is 66 obtained, and only the additional cost of obtaining a simultaneously issued owner's policy if a lender's policy is obtained(Buyer shall pay the premium 67.for the lender's policy). f 68 Seller and Buyer Initial: Seller - _ Date- Buyer �ii,c.�'s- 'i `'2-Date 7�/ /•-� 69.MN: VLPA-1 (1)90) CBM 1177(4190) BANR VACANT LAND PURCHASE AGREEMENT 70. Date July 21 , 1992 71. Page 2 of 3 Pages 72. REAL ESTATE TAXES shall be paid as follows: 73 Buyer shall pay, prorated from day of closing, _12ths, all one real estate taxes due and payable in the year 19 9 2 . 74.Seller shall pay, prorated to day of closing, 12ths(none real estate taxes due and payable in the year 19 92 . '16,0475. In the event the closing date is changed, the real estate taxes paid shall, if prorated, be adjusted to the new closing date. Seller warrants 76.taxes due and payable in the year 19 N/A will be NON-HOMESTEAD classification. Seller agrees to pay Buyer at dosing $ TT toward the non-homestead portion of the real estate taxes. Buyer agrees to pay any remaining balance of non-homestead taxes when they become 7a due and payable. Neither Seller nor Agent(s) make any representation concerning the amount of subsequent real estate taxes. 79.SPECIAL ASSESSMENTS shall be paid as follows: 80. BUYER AND SELLER SHALL PRORATE AS OF THE DATE OF CLOSIN / SELLER SHALL PAY ON DATE OF CLOSING I 81. installments of special assessments certifl . ;• .ayment with the real estate taxes due and payable in the year of closing. 82.BUYER SHALL ASSUME / ELLER SHALL P. • date of closing all other spedial assessments levied as of the date of closing. 83 BUYER SHALLASSUMESELLER SHALL PROVIDE FOR PAYMENT special assessments pending as of the date of closing for 84.improvements that have been ordered by the City Council or other assessing authorities. (Seller's provision for payment shall - . payrne 85.escrow of two(2)times the estimated amount of the assessment,or less as required by Buyer's lender.)BUYER SHALL PAY!. - SHALL ) 86.on date of closing any deferred real estate taxes(i.e., Green Acres, etc.) or special assessments payment of which is required as a r-• . . 87.the closing of this sale. Buyer shall pay real estate taxes due and payable in the year following closing and thereafter and any unpaid special 88. assessments payable therewith and thereafter, the payment of which is not otherwise provided. 89.ACCEPTANCE: Buyer understands and agrees that this Purchase Agreement is subject to acceptance by Seller in writing.Agents are not liable 90.or responsible for any covenants,obligations or warranties made in this Purchase Agreement,except the agents are liable to return ortaccount 91.for the earnest money. The delivery of all papers and monies shall be made at the listing broker's office. 92.INSPECTION: Buyer has the right to inspect property prior to closing. 93 GENERAL WARRANTIES: SELLER WARRANTS THAT THE BUILDINGS,IF ANY,ARE ENTIRELY WITHIN THE BOUNDARY LINES OF THE 94. PROPERTY.SELLER WARRANTS THAT THERE IS A RIGHT OF ACCESS TO THE PROPERTY FROM A PUBLIC RIGHT OF WAY.THESE 95 WARRANTIES SHALL SURVIVE THE DELIVERY OF THE DEED OR CONTRACT FOR DEED. 96.SELLER WARRANTS THAT PRIOR TO THE CLOSING DATE PAYMENT IN FULL WILL HAVE BEEN MADE FOR ALL LABOR, MATERIALS, 97. MACHINERY, FIXTURES OR TOOLS FURNISHED WITHIN THE 120 DAYS IMMEDIATELY PRECEDING THE CLOSING DATE IN 98.CONNECTION WITH CONSTRUCTION, ALTERATION OR REPAIR OF ANY STRUCTURE ON OR IMPROVEMENT TO THE PROPERTY. 99.SELLER WARRANTS THAT SELLER HAS NOT RECEIVED ANY NOTICE FROM ANY GOVERNMENTAL AUTHORITY AS TO VIOLATION 100.OF ANY LAW,ORDINANCE OR REGULATION. IF THE PROPERTY IS SUBJECT TO RESTRICTIVE COVENANTS,SELLER WARRANTS 101.THAT SELLER HAS NOT RECEIVED ANY NOTICE FROM ANY PERSON OR AUTHORITY AS TO A BREACH OF THE COVENANTS.ANY 102.NOTICES RECEIVED BY SELLER WILL BE PROVIDED TO BUYER IMMEDIATELY. 103 RISK OF LOSS:if there is any loss or damage to the property between the date hereof and the date cf dosing,for any reason including fire,vandalism, 104.flood,earthquake or act of God,the risk of loss shall be on Seller. If the property is destroyed or substantially damaged before the dosing date,this 105. Purchase Agreement shall become null and void, at Buyer's option,and earnest money shall be refunded to Buyer; Buyer and Seller agree to sign 106.cancellation of Purchase Agreement. 107.BUYER/SELLER ARBITRATION SYSTEM: 108.ANY CLAIM OR DEMAND OF SELLER(S), BUYER(S), BROKER(S)OR AGENT(S),OR ANY OF THEM,ARISING OUT OF OR RELATING 109.TO THE PHYSICAL CONDITION OF THE PROPERTY COVERED BY THIS PURCHASE AGREEMENT (INCLUDING WITHOUT 110.LIMITATION CLAIMS OF FRAUD, MISREPRESENTATION, WARRANTY AND NEGLIGENCE), SHALL BE SETTLED BY ARBITRATION 111. IN ACCORDANCE WITH THE RULES, THEN IN EFFECT, ADOPTED BY THE AMERICAN ARBITRATION ASSOCIATION AND THE 112.MINNESOTA ASSOCIATION OF REALTORS` THIS IS A SEPARATE VOWNTARY AGREEMENT BETWEEN THE PARTIES AND 113 BROKERS/AGENTS. FAILURE TO AGREE TO ARBITRATE DOES NOT AFFECT THE VALIDITY OF THIS PURCHASE AGREEMENT. 114.THIS DISPUTE RESOLUTION SYSTEM IS ONLY ENFORCEABLE IF ALL PARTIES AND BROKERS/AGENTS HAVE AGREED TO 115.ARBITRATE AS ACKNOWLEDGED BY INITIALS BELOW. 116.BUYER(S) SELLER(S) LISTING BROKER/AGENT SELLING BROKER/AGENT 117. DEFAULT: If title is marketable or is corrected as provided herein, and Buyer defaults in any of the agreements herein, Seller may terminate 118 this Purchase Agreement and payments made hereunder may be retained by Seller and Agent, as their respective interests may appear. This 119. provision shall not deprive either Buyer or Seller of the right to recover damages for a breach of this Agreement or of the right of specific periom)ance 120.of this Agreement,provided this Purchase Agreement is not terminated, and further provided,as to specific performance,such action is commenced 121.within six months after such right of action ari;,co. 122.TIME OF ESSENCE: Time is of the essence in this Purchase Agreement. 123. ENTIRE AGREEMENT:This Purchase Agreement,any attached exhibits and any addenda or amendments signed by the parties,shall constitute 124.the entire Agreement between Seller and Buyer,and supercedes any other written or oral agreements between Seller and Buyer. This Purchase 125.Agreement can be modified only in writing signed by Seller and Buyer. 126.POSSESSION: Seller shall deliver possession of the property not later than after closing. 127.All interest, homeowner association dues,rents,fuel oil,liquid petroleum gas and all charges for city water,city sewer,electricity,and natural gas shall 128 be prorated between the parties as of _ . Seller agrees to remove ALL 129. DEBRIS AND ALL PERSONAL PROPERTY NOT INCLUDED HEREIN from the property by possession date. 130.AGENCY DISCLOSURE: Jane DuBois STIPULATES HE OR SHE IS REPRESENTING 131.THE Sellers IN THIS TRANSACTION. THE LISTING AGENT OR BROKER STIPULATES HE OR SHE IS 132. REPRESENTING THE SELLER IN THIS TRANSACTION. BUYER & SELLER INITIAL:Buyer(s) Seller(s) 133. I, the owner of the property, accept this agreement and I agree to purchase the property for the price and on the 134. authorize the listing broker to withdraw said property from terms an. conditions set forth above. 135.the market, unless instructed otherwise in writing. C 136. - f , -r� (Seller's Signa(ure) (Date) (Bu : • 59.2gure) (Dale) 137. _ J� h /� iL) nC�l7,S (Seller's Printed Name) (Marital Status) (Buyer's Printed Name) (Marital Sous) 138. (Seller's Sgnature) (Date) (Buyer's Signature) (Date) 139. (Sales Panted Name) (Marital Status) (Buyer's Printed Name) //� J 7 (Marital Status) 140. DATE OF FINAL ACCEPTANCE ___- _ SELLING AGENT _C? ' 141. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS I1ND SELLERS. �J 142.MN: VLPA-2(1/90) IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. CBM 1178(4/90) ADDENDUM TO BANKWER PURCHASE AGREEMENT BLANK This form approved by the Minnesota Association of REALTORS°: Minnesota Association of REALTORS° disclaims any liability arising out of use or misuse of this form. 1. Date July 21 , 1992 2. Page 3 of 3 Pages 3. Addendum to Purchase Agreement between parties dated , 19 pertaining to the purchase 4. and sale of the property at Outlot A Macey 2nd Addition 5. • 6 This purchase agreement is contingent upon the City of Shakopee August 14 , 1992 7 approving a lot split prior to />i(WRXXXXR5a. If the lot split 8 is not approved for the purpose of building two single farrlily ,homes , 9 the purchase agreement shall be cancelled and all earnest monies 10 shall be refunded. 11. 12. Earnest money will be paid upon acceptance of the purchase • 13. agreement by the Sellers . • 14. 15. 16. • 17. 18. 19. • 20. • 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. ?7 1ti4-4/1--- 35. (Sella) (Date) (Buyer) (Date) 36. (Seller) (Date) (Buyer) (Date) 37. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS. 38. MN:APA(5/88) IF YOU DESIRE LEGAL OR TAX ADVICE,CONSULT AN APPROPRIATE PROFESSIONAL. Q CBM 1206