99-06 HRA Resolution
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Resolution 99-6
May 11, 1999
Commissioner Bakken introduced the following resolution and moved its
adoption:
RESOLUTION AUTHORIZING THE ACQUISITION BY PURCHASE OF
CERTAIN REAL PROPERTY FOR EFFECTUATION OF
THE HOUSING AUTHORITY HOUSING PROGRAM
(1051 Sumter Avenue South)
WHEREAS, the Housing and Redevelopment Authority in and for the City
of Golden Valley, Minnesota (the "HRA") has established a Housing Program for
the provision of low- and moderate-income housing through the adoption of
Resolution 99-3 on March 11, 1999; and,
WHEREAS, it is necessary and desirable to acquire the real estate
hereinafter described in order to carry out and implement the Housing program,
thereby making the land described therein useful and valuable for contributing to
the provision of affordable housing; and,
WHEREAS, the HRA established a relationship with Twin Cities Habitat
for Humanity, Inc. ("Habitat") in which Habitat will construct affordable homes if
the HRA is able to provide suitable lots for said housing; and,
WHEREAS, the HRA has identified a suitable lot on property legally
described as:
All tracts of parcels of land lying and being in the County of Hennepin and
State of Minnesota, described as follows, to-wit:
That part of Lots 17,18 and 19, which lies Northerly of the following
described line: Commencing at the Northeast corner of said Lot 5; thence
on an assumed bearing of South 8 degrees 18 minutes 00 seconds West
along the Easterly lines of said Lots 5, 6, 7 and 8, a distance of 192.37
feet to the actual point of beginning of the line to be described: thence
Westerly, a distance of 85.76 feet, along a non-tangential curve, concave
to the North, having a radius of 2121.83 feet and a chord bearing of North
83 degrees 27 minutes 44 seconds West; thence Westerly, a distance of
233.29 feet along a non-tangential curve concave to the North having a
radius of 924.93 feet and a chord bearing North 67 degrees 46 minutes 39
seconds West, to the West line of said lot 19 and there terminating; all in
Block 4, "Confer and Erickson's Boulevard Gardens", according to the plat
thereof, Hennepin County, Minnesota.
NOW, THEREFORE, BE IT RESOLVED by the HRA that it approves
acquisition of the land described in the attached Purchase Agreement, that the
attached Purchase Agreement is approved and the Director and chair are
authorized to execute it on behalf of the HRA and take all actions necessary to
carry out its terms.
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Resolution 99-6 (Con't.)
May 11, 1999
BE IT FURTHER RESOLVED that the acquisition of the above-described
real estate is necessary and desirable, and the purposes aforesaid for which said
lands are to be acquired are proper and necessary public purposes.
ATTEST:
The motion for t e ad pin of the foregoing resolution was seconded by
Commissioner Sue; and upon a vote being taken thereon, the following voted
in favor thereof; rson, Bakken, Johnson, LeSuer and Micks; the following
voted against the same: none; whereupon said resolution was declared duly
passed and adopted, signed by the Chair and her signature attested by the
Director.
Resolution 99-6 (Continued)
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May 11, 1999
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Fonn 1519A 1&2(R&v.~)
PURCHASE AGREEMENT
Thie form approved by the Min_ta A..ociotion of
REALTORS.. which dieclaima any liability
lIrieino out of uee or mieu.. of thie form.
1. Data M......h.,.,' 1999
%. Pall. 1 of POlloe
RECEIVED OF
Th. "'"l1i11i"O IInd RAdAvAl~nmllllnt Authnritv in .."tt '"r thlll Citv n,nold.ft VAII.y
tho awn of
OnA
Doll_C
it 00
-eHll!Olt . CASH ..fi81fEo .. a........ money 1& ka ~l,..u.Iu.. tt,&" .L.a.!......... at Pt.tr IIL....,& II..IlUfl.l~. ~H ,.....u.... all. k.L'I..4. tlu. ~.....I
--;;;;;~.~~-:f~r.;;;;;;;..~ jft 'In "Yet ....HA. If Ii......'..l.'..... Ie la. f...."'..... ....., if P..,.....& A'faa.ant i. JI1 .....,11." III'
....... Said eomut money ill port payment for the purchau of the property located at:
Street Addre..:
City of
Legally deacribed oe'
(;tnltt.1I VAlIAV
. County of t.lAIUIAfti...
. S.... of Minnesota.
!I:.....f'tAl!h.d Alftf.rvt..rn .6
Includinlltho following property, If any. owned by Seller and ueed and located on Hid propony: lIard.n bulbe, plonta, ehrube. and troe.:
.o.h. .torm doere. .creene and eWning.: window ehedee, blinde, trove,.. and curtain and drapery rod.: ettached Ii reo end bulbe;
plumbing fixturn, wetar he_r, hoeling plenta Iwith any burnere, tanka, .tok_ and other nt u.ed In connoolion therowithl.
bullt-in air COnditioning equipment. .Iectronie air flIter. Weter Soft.ner l 0 ENTED , NON&, built-in humidifi.r and d.humidifi.r.
tItriIle -..IW"
Uquid a.. tank and control. lif tho property of S.lIer ump: ettached taie~olon ontenne, cable TV lock. and wiring: BUlLT-INS:
di.hwoohore. lIerboge diopo..... tre re, ovene, cook top .tove., microw_ _, hood fane, interoomo: ATTACHED: carp.linll:
pen.re end 011 controle: omoko d.t_r.: fireploe. oore_. doere and heolilotore: AND: the followino poroono!
ail of which property Sellor he. thi. dey ogrud to .011 to Buyer for own of: I
t~. MO 00
I
0011....
Thirtu.fnllr Rv. 1.lundrftf't Tholt!lt."" And 118/100
which Buyer ogr... to pay In the following manner: Eornoot rnonay of
and 1:14 '-inn on cab on . MAV 1 ,gg~ OP ..."h .""ftAfP d... Ail th. n.rti.. an,.. 1ft . the d.. 0' clo..no.....
at.... ~A_n.L._ .If
II. fi"aluiftl in ..1".."" itlt lha ......h... '~.'R"WRI
(strilto out Ihon that do not oppIyJ .co............ B!6 oM6 A __u__"'__ ~-..--- .. n~.. .........--- .4-.....u--- Ji!!I!!!l.
Thi. Purchou Agroomont IS ,.....01' eubject to a Co~ Addendum. IIf _wor ill... ... ottIIOIhed addendum.1
----
Thi. Purohu. Aar_-I& , IS NOT eubject to OOMeIIolion of a P~"y written Purchae Agre...-~
-...........-
Buyw heo boon moda .w_ of the ovoiloblllty of property Inapootiono. Buyer ...... , doalMa to how a property lnopoolion performed et
Buyw'e.~. except as set forth on Addendum B. -----
~i. P..uh.l..... .ra.Runt IS J IS NeT llI.j... '11M IA',".IR .. ~~'RIIH'" (If IRI If i. rl ~... ....'~1.. '~"'-"'" ~>I
-..... ....-
Attached - other oddondo whioh _ mode . port of thie Purchae AlIre_. IEnter pogo or POllH on fino 21
OEEDIMARKETABLE TITLE: Upon performonco by Buyer, SeIIor ehell deliver a ....n_ Worronty O.ed
joined in by opClU... if eny. convoying morkahlblo Iide, eubject to:
(AI Buildinll and zoning lew.. ordinance, _ta and federel reguloliono: CBI Ro.triclione relolino to u.e or improvement of the property without
.ffootivo forfeiture pro~olono: Ce) Ra_lion of any miner" rillhta by tho Stet. of Minneooto: (D) UtIlity end drelnogo _ which do not
interfere with exialing improvementa: eEl HlIh'1 If'IRan11 II hll. . hlRt... 1....ifhll"RII .wlli'" ,. 1IAIAai....
IF) Othore lMuot be opecified In writing):
SPECIAL ASSESSMENTS ohoII b. paid eo follows:
~8Ett:I!IHIHMt.ofIftORA'I'I! AS 8F' THI!-o~p aLeSINS , SELLER SHAU. PAY ON DATE OF CLOSING 011 inotolbMnto of opocl"
e._co certified for poyrnont with tho .... .._ _ duo Ond-':-ov::.:'i:. the yeer of oIo"no.
-BU'fI!Ro8HAU.-A88YM1! , SELLER SHALL PAY on d_ of cloolno 011 other opoolol _nta Iovled _ of the d_ of till. Aar-t.
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BUYER SHALL ASSUME '-eEl:U!lt-e~-f"I\oVflollEN'F-~ opoolol ..._ pendino eo of the d_ of lhla Aa_ for
~ that how been 0::::ca"'tY'. City CounclI or other -uoolno outhorhl.. CSollor'. prcMolon for fNIVIMM ohoII be by payment
into -.ow of two (2) t/moo the aolimotod _ of tho __. or 1_.. required by Buyw'. lendorJ
"VIlER SIIAtl. A88t1M1! 'SELLER SHAU. PAY on ~ of ciano any def""'" re. .-.. _ (i.o. Gr_ A-. ate.1 or IPacloI
e._omenta ~~rrc't. Ie required _ . ruuCl of the oloolno of till. ..... Buyw ,hell pay rooI __ _ due and payllbleln the vur
followlno c10elng and theruftor and any unpold 1IP0Gi0I _nta peyebIa the..with and ~, the payment of which Ie not othorwi..
proWled. A. of the d_ of till. ogroomant, SoIIar re~ thet Soller HAS I HAS NOT recoivod a nollce of Moring for . now public
---
Impro.....-..nt project from any govornrnantol ......no authority, the 00_ of whioh projaot may be ........ ogoinot tho property. If e
nollce of pending lIPociol ...._ Ie Inuod aftot the d.ta of till, AlIre...- and on or before the d_ of clooIno, Buyer ohoU eo_
povlMnt of ALL , -NeN! , 'Oftft!ft:o of any tIUOh 1IP0Gi0I __me. and S..., ohoII pro1lldo for
-............-
poyrnont on data of clolino M:t, NONE I -o'I'ttI!R: of any tIUOh epecIoI--.me. If IlIlk 11110111
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=::A:::=:~. :.::~ .~r~' '~4;~~,=~r.k"'.vm~ Data
MN:PA-1C81181
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Resolution 99-6 (Continued)
May 11, 1999
PURCHASE AGREEMENT
60. Page 2
61. theft eithsr fJ8FW fR8Y81'88 iA ....f'itiR. 8ft.' tlste,s the date af elesiAI 18 858YFR8r Jl8, afJlF8AJie fer tt;le ..a~'1R8At 8f SyeA
62. eJ(88&1~ 1ft the 8SS8AS8 8t SyeR agreeM8M, either 118ft\. "'~ sealars this Pttrehaae. AClrttma~t ~,..II laid ..old,U.4 ~4.t;{..'" &1.411
63. ifRMe..iatel r' SilH a 88RssUatisA .t Pwrehae8 A'f88fA8'" aAd all eaMBst fAeRer Jlsid ReretlRier 8Rentse feftJR~8d ta By r af.
64. .TITLE AND EXAMINATION: Seller shall, at Seller's option, within a reasonable time after acceptance of this Agreement,
65. provide evidence of title in the form of either 111 a commitment for an owner's policy of title insurance in the
66. amount of the purchase price on a current ALTA form issued by an insurer licensed to write title insurance in
67. Minnesota; or (21 an abstract of title or a registered property abstract certified to date. Evidence of title shall include
68. proper searches covering bankruptcies, state and federal judgments and liens, and levied and pending Special Assessments.
69. Seller shall 111 pay the entire premium for such title insurance polley if no lender's policy is obtained, and only the
70. additional cost of Obtaining a simultaneously issued owner's polley if a lender's pOlicy is obtained (Buyer shall pay the
71. premium for the lender's policyl: or 121 pay all costs of providing the abstract. If Seller provides a commitment for an
72. owner's policy of title insurance. Seller shall surrender any abstract in Seller's' possession or control to Buyer at
73. closing.
74. Seller shall use Seller's best efforts to provide marketable title by the date of closing. In the event Seller has not provided
75. marketable title by the date of closing, Seller shall have an additional 30 days to make title marketable or, in the alternative.
76. Buyer may waive title defects by written notice to the Seller. In addition to the 30 day extansion. Buyer and Seller may by
77. mutual agreement further extend the closing date. Lacking such extension, either party may declare this Purchase Agreement
78. null and void: neither party shall be liable for damages hereunder to the other and earnest money shall be refunded to Buyer:
79. Buyer and Seller shall immediately sign a cancellation of Purchase Agreement.
80. SUBDIVISION OF LAND: If this sale constitutes or requires a subdivision of land owned by Seller, Seller shall pay all subdivision
81. expenses and obtain all necessary governmental approvals. Seller warrants the legal description of the real property to be
82. conveyed has been or will be approved for recording as of the date of closing.
83. Seller warrants that the buildings are or will be constructed entirely within the boundary lines of the property. Seller warrants
84. that there is a right of access to the property from a public right of way. These warranties shall survive the delivery of the deed
or COntract for deed.
85. Seller warrants that prior to the closing, payment in full will have been made for all labar, materials, machinery, fixtures or tools
88. furnished within the 120 days immediately preceding the closing in connection with construction, alteration or repair of any
87. structure on or improvement to the property.
88. Seller warrants that Seller has not received any notice from any government authority as to violation of any law, ordinance or
89. regulation. If the property is subject to restrictive covenants, Seller warrants that Seller has not received any notice from any
90. person or authority as to a breach of the covenants. Any notices received by Seller will be provided to Buyer immediately.
91. Seller agrees to allow reasonable access to the property for performance of any surveys or inspections agreed to herein.
92. RISK OF LOSS: If there is any loss or damage to the property between the elate hereof and the date of closing, for any reason
93. including fire, vandalism, flood, earthquake or act of God, the risk of loss shall be on Seller. If .... IIf.II"'" i. lie....., ell .r
84. ''bIIl.taMiIU" El8IR81'~ .....,. the ....... II.... this Pufaha.. A,MelR.,. ,heR 11..."'8_11 eRd \..i." .. Iyv.,'. ..'lieR. 8M
9&. 18"".' "'8R8i shaH l:Ie feNR..... 18 8",.,., 8-',8t aM EcHef shell i",,,,e8iatel, 8ian a eaneellatiaft 61 Purehale
!' '''8IR8M..
98. TIME OF ESSENCE: Time is of the essence In this Purchase Agre.nent.
97, ENTIRE AGREEMENT: ThIs Purchase Agreement. any attached exhibits and any addenda or amendments signed by the parties,
98. shall constitute the entire agreement between Seller and Buyer, and supersedes any other written or oral agreements between
99. Seller and Buyer. This Purchase Agreement can be modified only in writing signed by Seller and Buyer.
. 100. ACCEPTANCE: Buyer understands and agrees that this Purchase Agreement is subject to acceptance by Seller in writing. The
101. delivery of all papers and monies shall be made at the listing broker's office.
102. DEFAULT: If Buyer defaults in any of the agreements herein. Seller may terminate this Purchase Agreement, and
103. paymentS made hereunder may be retained by Seller as liquidated damages. If this Purchase Agreement is not so terminated,
104. Buyer or Seller may seek actual damages for breach of this Agreement or specific performance of this Agreement: and, as to
105. specific performance, such action must be commenced within six months after such right of action arises.
Resolution 99-6 (Continued)
Form 1519A 3 (Rev. 8/961 MllIer/Oevl. Co.. St. P..... MN
108.
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111.
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113.
114.
115.
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127.
128.
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130.
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132.
. 133.
134
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131.
137.
138.
138.
140.
~1ay 11, 1999
PURCHASEAGR88MENT
101. Addr...
107. P.g. 3 D.t.
Mamh .... \ ' ggg
REAL ESTATE TAXES .hllll be peid .. foHow.:
Buyer .hell p.y. PRORATED TO DAY OF CLOSING _ 4iR'H&. ....u., HeN& ,.e1_ tell.. due end peyable in the _ 19..D...
_..eI
Sener .hell pey, PRORATED TO DAY OF CLOSING_-"21'H8. ""LV -HElNIi ..eI _. _ due end payIlbIe in the _ 19...aJl..
_"eI
If the ololino det. i. ohanged, the reel ..tete _ """' .W, If pror.ted. be ed~ to the new cloling dat.. S.... w....... _ due .nd
p.yebl. in the yeer 19 _ win b. oF\:Il~ - PA~ - NON- homeateed c1..lifioetion. If pert or nClfWlorneeteed oleaiflaetion ie checked.
_"eI
Sener agree. to pey Buyer at ololino 10 00
toward the non-hom..teed ,.eI .._ t.xe.. Buyer agre.. to pey .ny remeining ~ of non-ftome.toed tell.. when they become due
.nd p.yeble. No rap_entetion. .re mad. ooncernino the amount of aub.equent ,.eI _. telle..
POSSESSION: Sell.r .hen d.liver po....lion of the property not l.ter th.n the dAIA "I after ololing.
All int....t. homeowner ..aooi.tion due., rent.. fuel oil. liquid petroleum gel end ell ...... for city w_, city .._, eleotrIoity, end
neturelll_ .hen be pror.tad between the p.rti.. _ of dat. of ciolino. Seller egre.. to _ ALL DEBRIS AND ALL PERSONAL PROPERTY
NOT INCLUDED HEREIN from the property by poneaion date.
120. ENVIRONMENTAL CONCERNS: To the beet of the S....,.. knowledge the.. _ no hezardou. eub_ or ~ _raga
121. tonka. except herein noted:
122.
123.
124. SELLER, BUYER
-__enu-
125. SELLER I BUYER A0REE8 TO PROVIDe SEPTIC SYBTEM CERTll'lCA
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IRED BY GOVERNING AUTHORITY AND/OR LENDER.
SELLER WARRANTS THAT CENTRAL AI ONING. HEATING. PLUMBING AND WIRING SYSTEMS USED AND LOCATED ON SAID
PROPERTY WILL BE IN W RDER ON DATE OF CLOSING, EXCEPT AS NOTED IN THIS AGREEMENT.
BUYER HT TO A WALK-THROUGH REVIEW OF THE PROPERTY PRIOR TO CLOSING TO ESTABUSH THAT THE PROPERTY IS
SELLER HAS I HAS NOT HAD A WET BASEMENT. AND HAS
----
IN BASEMENT. OR DAMAGE CAUSED BY WATER OR ICE BUILD-UP ON ROOF OF THE PROPERTY AND BUYER
IN THAT REGARD ON THE FOLLOWING STATEMENT BY SELLER:
HASN
BY WATER OR ICE BUlU).IJP. BUYER HAS , HAS
--
CElVED A SELLER'S PROPERTY DISCLOSURE STATEMENT.
BUYER HAS RECEIVED THE IN . IF REGUIRID BY MUNICItAUTY.
BUYER HAS RE DISCLOSURE STATEMENT OR A aTATEMENT THAT NO WILL EXISTS ON THE PftOIIMI t.
AND A S YSTEM DISCLOSURe STATEMENT OR A STATEMENT THAT NO SIPnC SY81'IM EXISTS ON 011_ THE
I ACKNOWLEDGE THAT 1 HAVE RECEIVED AND HAD THE OPPORTUNITY TO REVll!W THE AR8I1'RATlON DlSCLOSUM AND RESIDENTIAL
REAL PR TION AOR
142.
141. S
8UYERlSJ
8UYERlSJ
143.
144. DUAL AGENCY REPRESENTATION DOES I DOI!8 NOT APPLY IN THIS TRANSACTION.
-........ -
141. Broker ~ both the S....,.e) end the lluyw(e) of the property lnvolwd in tIlIIo tnn..ad_ whloh _. ea-v. TN.
141. m_ thet Broker end Ita .....- ow. flcIucIery cIu1Iee to both SeIIer(e) end 8uyw(at. s.- the mey MwllOllfllotJno
147. Intereete. Broker end Ita .....- ... prohibited f_ edwoeting uaIuaiwly for either P8f\Y. _ _ . duel eglItlt in till.
148. tr.naotion without the __ of both Seller(et end 1lu\MrCe). SPlerCet end ....,.,...
148. (1 t oonftdentIeIlnformetion _nioeted to Broker which regerde price. -. to buy or ... wi! ....... oonftdentIeI
1 SO. u..... senere., or lluyer(at lnatruota Broker in writing to cII.oloa. thie Other.lnforrnetion wiU be ......;
151. (2) Broker end Ita ......- win not repreaent the ~ of PI to the detllmHt of the other. end
152. (3t within the Urnita of duel egancy. Broker end Ita work cllllgently to feollltote the rneohIInloe of the .....
153. With the knowledge end underlltendlng of the ","'on , ....eree) end 1lu\MrCe) PUthoriH end inIrtruot Ikok.. end ... .........-
114. to _ _ duel .-in till. trenaeotion.
lIS.
. Seier ....
1.1.
..." 8uyw
157.
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Resolution 99-6 (Continued)
Form 1519A 4 (Rev. 8/961 MiU..IO.... Co.. St. P.u1. MN
160. OTHER:
r1ay 11, 1999
PURCHASE AGREEMENT
158. Addr...
159. Page 4 Data
U......h:"l.\ 1999
181.
I 82. I, the owner of the property, accept this Agraement and authoriza
163. the li.ting broker to withdraw .aid property from the markat,
164. unle.. instructed otherwi.e in writing and I have reviewed all
165. page. of this Purch... Agraement.
,~~
' .~-
187. X Thomas A,'~'Ryan
(SaIIer'a Printed Namal
188. X 4.1 ~- 2-'" - , \.( S<;;'
(Soolal Seourity Numbarl
169. X ~~g~
(SaIa,.. Signatural
170. X D., ..... ^.~ . T 1?y~n
(Sallar'. Printed Namal
171. X t.S-~ - ~c,_~' 0 ~
(Soolal Sacurity Numb.rl
172. FINAL ACCEPTANCE DATE
~,/~~
, (eatal
(M8ritaI Statuel
?/~llqq
I J (Datal
(Marital Statu.1
173. MN:PA-3 (8J981
I agree to purchaaa the property for the prioa and in accorclanca
with the tarrna and oondition. ..t forth above and I haw reviewed
all page. of this Purchaaa Agr_nt.
The Housing and Redevelopment Authoritv in
and for the City of Golden Valley .
XBy
(SuylIr'. Signatural
COatal
X Its
(SuylIr'. Printed Namal
X
(II.. C..uti1\. "1lI"'''.''
CUM'" S"'.Iia.
XBv
(SuylIr'a Signatural
(Datal
X Its
(SuylIr'a Printed N_I
X
...... 1.I..R'Vt'luRtrlrt
tiled.. It.tula
TIIS .. A LEGALLY BINDING c:oN'mACT 8E1WEEN 8UYI!R8 AND BaLERS.
F YOU DE8IRE LEGAL OR TAX ADVICE. CONSULT AN APPROPRIATE PROI'E88IONAL
THIS AGREEMENT IS SUBJECT TO APPROVAL BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND
FOR THE CITY OF GOLDEN VALLEY.
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Resolution 99-6 (Continued)
May 11, 1999
PURCHASE AGREEMENT
Date: March 31 . 1999
Page 5 of 8 Pages
ADDENDUM A TO THE GOLDEN VALLEY HRA PURCHASE AGREEMENT
Legal Description
All tracts of parcels of land lying and being in the County of Hennepin and State of
Minnesota, described as follows, to-wit:
That part of Lots 17, 18 and 19, which lies Northerly of the following described line:
Commencing at the Northeast comer of said Lot 5; thence on an assumed bearing of South 8
degrees i8 minutes 00 seconds West along the Easterly lines of said Lots 5, 6, 7 and 8, a distance
of 192.37 feet to the actual point of beginning of the line to be described: thence Westerly, a
distance of 85.76 feet, along a non-tangential curve, concave to the North, having a radius of
2121.83 feet and a chord bearing of North 83 degrees 27 minutes 44 seconds West; thence
Westerly, a distance of233.29 feet along a non-tangential curve concave to the North having a
radius of924.93 feet and a chord bearing of North 67 degrees 46 minutes 39 seconds West, to
the West line of said Lot 19 and there terminating; all in Block 4, "Confer and Erickson's
Boulevard Gardens", according to the plat thereof, Hennepin County, Minnesota.
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Resolution 99-6 (Continued)
~ay 11, 1999
PURCHASE AGREEMENT
Date: March~ 1999
Page 6 of 8 Pages
ADDENDUM 8 TO THE GOLDEN VALLEY HRA PURCHASE AGREEMENT
Additional Terms
1. This is a voluntary sale to the Housing and Redevelopment Authority in and for
the City of Golden Valley. No relocation benefits shall be provided to the Seller.
2.
to Buyer.
Seller shall pay all deed tax necessary to record the Deed to be delivered by Seller
3. Seller and Buyer shall each pay its own attorneys fees incurred in connection with
this transaction.
4. The parties warrant that they have not used a broker in this transaction. Each
party shall be responsible for any broker fee being claimed against it. The provisions of this
Section shall survive the Closing or termination of this Agreement.
S. Buyer's obligation under this Purchase Agreement is contingent upon Buyer, in
its sole discretion, being satisfied, on or before the Date of Closing, with all reports,
investigations and tests performed by Buyer or its agents as well as surveying of the Property.
Said reports, investigations, tests and surveys shall be conducted at Buyer's expense and Buyer
indemnifies Seller for any damage or injury or other claims resulting from said reports,
investigations, tests and surveying. Seller grants Buyer access to the Property to conduct the
reports, investigations, tests, and surveying. Within 14 days of the date of this Agreement Seller
shall provide Buyer with any copies of reports or surveys it has in its possession regarding the
Property.
6. Seller has not generated, manuf~ buried, spilled, leaked, discharged,
omitted, stored, disposed of, used or released any "Hazardous Materials" as that term is defined
in applicable Federal, State and Local laws, about the Property, and has permitted no other party
to do any of the same. Seller at all times has operated its business at the Property in compliance
with Hazardous Material laws and has kept in full force and effect all licenses, permits, and other
authorizations required pursuant to any Hazardous Material law for the lawful and efficient
operation of Seller's business at the Property. Seller has received no notice of and has no
knowledge (a) that any Hazardous Material are or have ever been generated, manufactured,
buried, spilled, leaked, discharged, emitted, stored, disposed of, used or released about the
Property, or (b) of any, requests, notices, investigations, demands, administrative proceedings,
hearings, litigation or other action proposed, threatened or pending relating to any of the
Property, and alleging non-compliance with or liability under any Hazardous Material laws, or
Resolution 99-6 (Continued)
May 11, 1999
.
PURCHASE AGREEMENT
Date: March 3{ . 1999
Page 7 of 8 Pages
(c) that any above-ground or underground storage tanks or other containment facilities of any
kind containing any Hazardous Materials are or have ever been located about the Property. The
warranty of this Section shall survive Closing.
7. There is no "well" (as defined in Minnesota Statutes g 1031.005, Subd. 21)
located about the Property. Seller has delivered to Buyer the well disclosure statement required
pursuant to Minnesota Statutes g 1031.235, Subd. I(a).
8. There is no "individual sewage treatment system" (as defined in Minnesota
Statutes g 115.55, Subd. l(g) located about the Property. Seller has delivered to Buyer the
individual sewage treatment system disclosure statement required pursuant to Minnesota Statutes
g 115.55, Subd. 6.
9. As of Closing there will be no leases or possessory rights in favor of any party,
service or maintenance contracts, equipment leases or other contracts regarding any of the
Property. The warranty of this Section shall survive Closing. .
.
10. Seller has not (i) made a general assignment for the benefit of creditors, (ii) filed
any involuntary petition in bankruptcy or suffered the filing of any involuntary petition by
Seller's creditors, (Hi) suffered the appointment ofa receiver to take possession of all or
substantially all of Seller's assets, (iv) suffered the attachment or other judicial seizure of all, or
substantially all, of Seller's assets, (v) admitted in writing its inability to pay its debts as they
come due, or (vi) made an offer of settlement, extension or composition to its creditors generally.
11. Seller is not a "foreign person", "foreign partnership", "foreign trust" or "foreign
estate" as those terms are defined in Section 1445 of the Internal Revenue Code. The foregoing
representations and warranties are express representations and warranties which Buyer shall be
entitled to rely on regardless of any investigation or inquiry made by, or any knowledge of,
Buyer. Consummation of this Agreement by Buyer with knowledge of any such breach shall not
constitute a waiver or release by Buyer of any claims arising out of or in connection with such
breach. The foregoing representations and warranties shall survive termination of this
Agreement.
12. Buyer has been duly incorporated body corporate and politic under the laws of the
State of Minnesota and is in good standing and, is duly qualified to transact business in
Minnesota, and has the requisite power and authority to enter into and perform this Agreement
and the documents and instruments required to be executed and delivered by Buyer pursuant
hereto. This Agreement has been duly executed and delivered by Buyer and is a valid and
binding obligation of Buyer enforceable in accordance with its terms. This Agreement and the
. documents and instruments required to be executed and delivered by Buyer pursuant hereto have
e
e.
e
Resolution 99-6 (Continued)
t1ay 11, 1999
PURCHASE AGREEMENT
Date: March oS I . 1999
Page 8 of8 Pages
each been duly authorized by all necessary corporate action on the part of Buyer and that such
execution, delivery and performance does and will not conflict with or result in a violation of
Buyer's Articles of Incorporation or Bylaws or any judgment, order or decree of any court or
arbiter to which Buyer is a party, or any agreement to which Buyer and/or any of the Property is
bound or subject.
13. Buyer has not (i) made a general assignment for the benefit of creditors, (ii) filed
any involuntary petition in bankruptcy or suffered the filing of any involuntary petition by
Buyer's creditors, (Hi) suffered the appointment of a receiver to take possession of all or
substantially all of Buyer's assets, (iv) suffered the attachment or other judicial seizure of all, or
substantially all, of Buyer's assets, (v) admitted in writing its inability to pay its debts as they
come due, or (vi) made an offer of settlement, extension or composition to its creditors generally.
61484
.
.
.
Resolution 99-6 (Continued)
May 11, 1999
FIRST AMENDMENT TO PURCHASE AGREEMENT
This agreement is made as of the _ day of April, 1999.
RECITALS
1. The Housing and Redevelopment Authority in and for the City of Golden Valley
("Buyer") has entered into a Purchase Agreement ("Purchase Agreement") dated March 31, 1999
with Thomas A. Ryan and Patricia J. Ryan ("Sellers'') for the property located in Block 4 "confer
and Erickson's Boulevard Gardens" (the "Property''); and
2. Buyer and Sellers wish to amend the Purchase Agreement regarding the closing date;
NOW, THEREFORE, in consideration of the premises, and in consideration of the sum of
One Dollar, and other valuable consideration, receipt and sufficiency of which is hereby
acknowledged by the parties, it is hereby agree to as follows:
(A) The closing date is hereby amended to June 1, 1999, or such sooner date as
the parties may agree to.
(B) Except as modified by this Agreement, the Purchase Agreement shall
continue in full force and effect.
IN WIlNESS WHEREOF, this agreement has been executed and is effective as of the date
written above.
BUYER:
The Housing and Redevelopment Authority in and for
the City of Golden Valley
Bv
Its
SELLERS:
Thomas A. Ryan
Patricia J. Ryan
1-
65157