2. Authorize update of study for Teton Lane & Lilac Lane I CITY OF t:,)_.
I
1 _ ,
CHANHASSEN
.r'' 690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317
I (612) 937-1900 • FAX (612) 937-5739
Act by Cr, t.•." ,
MEMORANDUM t••:' : . ✓ . Pr
• s, Q " , '•R i
ITO: Don Ashworth, City Manager ,.
FROM: Charles Folch, Asst. City Engineer 1r-, •
IIDATE: February 15, 1991
SUBJ: Authorize Feasibility Study for Street and Utility Improvements to Teton
1 Lane from Lilac Lane South to Ashton Court and Lilac Lane West to Powers
Boulevard, In Association with the Development of the Donovan Property
LUR 91-1
1 Project No. 91-4
You will recall that this authorization for the feasibility study was tabled at
I the February 11, 1991 City Council meeting. The primary reason for tabling this
item involved questions related to Mr. Donovan's true intentions for the
property. A neighboring resident testified that he had conversations with Mr.
" Donovan over the prior weekend of which Mr. Donovan stated that he had no
1 intentions on selling the property. The Council questioned staff as to whether
we had actually seen an official purchase agreement for the property in
question. I explained to the Council that the prospective developer, Jim
1 Ostenson, met with City staff on two prior occassions and presented a number of
professionally prepared conceptual design schemes for the property. It was
apparent that a significant amount of expense and effort was being committed by
this developer on the property. Therefore staff had no notion to doubt the
IIintent of the developer to purchase this property from Mr. Donovan.
I have since contacted Mr. Ostenson who has sent me a copy of the purchase
1 agreement with Mr. Donovan which was signed by both parties in October 1990. I
have also received a letter from Mr. Donovan's representative on his intentions
to sell the property and a request for the City to initiate a feasibility study
1 for the street and utility improvements to Teton Lane between Lilac Lane and
Ashton Court.
Another question which was raised by Councilwoman Dimler related to why the City
1 was administrating the preparation of the feasibility study. As I had responded
at the meeting, this segment of Teton Lane is a substandard City street existing
within a 33' wide road easement. Development of the approximately 9 acres of
1 the Donovan property to the west will require the need for sanitary sewer and
water service and at least one road access which will in all likelihood alter
the needs and ultimately the use for this segment of Teton Lane. Given that the
1 improvements to Teton Lane would be public improvements within an existing City
easement or right-of-way area, the improvement process normally initiates with
the preparation of a feasibility study for the needed improvements. From a
fundamental standpoint it really doesn't matter whether it is the City or the
II
I
Don Ashworth
11 February 15, 1991
Page 2
' Developer who intends to construct the improvements. Past policy in either case
has been for the City to retain the consultant to perform this study. This
affords the City the necessary level of input and control over the elements of
the study and the developer provides the necessary security or cash escrow to
guarantee payment of the costs in preparing the feasibility study.
In accordance with my attached memo of February 5, 1991 and given the newly
acquired information that was requested by Council, I continue to recommend that
the City Council authorize the feasibility study for the street and utility
improvements to Teton Lane between Lilac Lane and Ashton Court and a portion of
Lilac Lane west of Powers Boulevard (CR-17) conditioned upon the applicant/
developer providing a total security (letter of credit or cash escrow) in the
amount of $5,000.00 to pay for the study and that the consulting engineering
firm of Engelhardt & Associates be designated as the engineer on the project.
lap
Attachments: 1. Memorandum dated February 5, 1991
2. Proposal from Bill Engelhardt
3. Copy of Purchase Agreement
c: Paul Krauss, City Planner
Dave Hempel, Sr. Engineering Technician
' Bill Engelhardt, Engelhardt & Associates
Jim Ostenson, James Development Company
I
1 `
1
1
CITY of
CHANHASSEN
690 COULTER DRIVE • P.O. BOX 147• CHANHASSEN, MINNESOTA 55317
(612) 937-1900 • FAX(612) 937-5739 �" ' -
MEMORANDUM
TO: Don Ashworth, City Manager ;► , _A- -y ---
' FROM: Charles Folch, Assistant City Engineer
DATE: February 5, 1991 ".637 -c--1 -1;1--I
SUBJ: Authorize Feasibility Study for Street and Utility Improvements to Teton 1
Lane from Lilac Lane south to Ashton Court and Lilac Lane west of Powers
Boulevard, in Association with the Development of the Donovan Property.
cce
LUR 91-1 II Project No. 91-4
The segment of Teton Lane fran Lilac Lane south to Ashton Court is a substandard
city street that is currently barricaded at the intersection with Ashton Court.
I am sure you are well aware of the issues that arose and the history of events
that occurred during the development of the Curry Farms Addition that produced_
the current status. This substandard street improvement was believed to be the
appropriate compromise since only one property owner, Natole, would be utilizing
that segment of Teton Lane for access. At the time, none of the property owners
adjacent to this portion of Teton Lane expressed any intentions of developing
_ their properties any time in the near future.
City staff has recently received and inquiry on the ten acre parcel, owned by
James Donovan, to the west of Teton Lane. In fact, the prospective developer '
and his engineer have net with staff to display and discuss some conceptual
development plans for the property. During our discussions, the developer was
informed that a development proposal for this property would require the impro-
vement of Teton Lane to current City standards and as a minimum, depending on
access configurations, would require improvement to the segment of Lilac Lane
from County Road 17 and Teton Lane. In response, the developer has made a for-
mal request for the City to initiate a feasibility study for the improvement of
Teton Lane and Lilac Lane and has provided the City with a partial escrow to
confirm their intentions.
A feasibility study for improvements to Teton Lane was prepared in 1988 by the
consulting engineering firm of William R. Engelhardt & Associates. The study
was undertaken at that time in association with the Curry Farms Development. A
number of alternatives were suggested, one of which was employed and yielded the
present street situation. •
Given that there is now a proposal for the development of the Donovan Property '
and based on the information and canments received fran residents and other
associated parties following the previous feasibility study it would seen
appropriate to reevaluate the street and utility needs of this area and prepare
an updated feasibility study for the improvements to Teton Lane and Lilac Lane.
Il
Don Ashworth
February 5, 1991
Page 2
Engelhardt & Associates are very familiar with the history and issues associated
with this street improvement and therefore, would be the appropriate consulting
engineering firm to perform this feasibility study.
I have recently received a proposal from Engelhardt & Associates to perform this
updated feasiblity study. The cost to perform this service along with conducting
some needed survey work is estimated at approximately $5,000.00.
Therefore, it is my recommendation that the City Council authorize the
feasibility study for the street and utility improvements to Teton Lane and
Lilac Lane conditioned upon the applicant/developer providing a total security
(letter of credit or cash escrow) in the amount of $5,000.00 to pay for the
study and that the consulting engineering firm of Engelhardt & Associates be
designated as the engineer on the project.
lap
Attachment: Proposal from Bill Engelhardt
•
' c: Paul Krauss, City Planner
Dave Hempel, Sr. Engineering Technician
Bill Engelhardt, Engelhardt & Associates
Jim Ostenson, James Development Company
)5-j
i
1 }
1
6
•
11
I
WILLIAM R. ENGELHARDT ASSOCIATES, INC. Q
ron.fuffing C�P,,in4P» RECEIVED
ED
1107 HAZELTINE BOULEVARD
CHASKA, MINNESOTA 55318 JAS! 3 0 1991
(612) 448-8838 CITY Ur 1..rir,+i-1n,,z.1. '
•
January 29, 1991
City of Chanhassen
c/o Mr . Charles Folch, Assistant City Engineer
690 Coulter Drive
Chanhassen , MN. 55317
RE: Proposal for Engineering Services
For : Teton Lane/Lilac Lane Improvements '
Honorable Mayor and City Council Members : '
Thank you for the opportunity to provide a proposal for our
services on the above named project . We propose to prepare a
feasibility study for the improvement of Teton Lane/Lilac Lane
upgrading for a lump sum, not to exceed $3, 500. We anticipate
some survey work will be required to determine alignments and
_ site distances . This work will be completed for a lump sum not
to exceed $1 , 500. We will undertake the survey work at an hourly
rate of $ 65 . 00 per hour . If the hours are less than
anticipated, you will be billed accordingly.
Again , thank you for this opportunity to provide our services .
We will look forward to working with you. '
Very truly yours , '
WILLIAM R. ENGELHARDT ASSOCIATES, INC. ,
William R. Engelhardt JAN .. • '
�_ pt:
FES 1 — si 1 ., EDi1 1 : 1 P . 04
ADDENDUM TO PURCHASE SE AGREEME ;T
Addendum to Purchase Agreement dated Octet-er 9, 1990 between JAMES E. DONOVAN,
Seller, and NORTH SHORE PARTNERS, Buyer.
INotwithstanding any contrary terms contained in the printed Purchase Agreement
form to which this Addendum is atta_hed, and intending that the
this Addendum take Frov�s..ons of
I precedence over any such inconsistent terms, the parties
mutually agree as follows:
Buyer shal lave the right to prepay principal from; tale, o time it full or in
part , and in . .y amount without penalty. All such erepayr± is shall apply first
143) to principal 1 etallments due In the order of their rtat. r
payments, inc 'ng the earnest money ar:d down payment `hy 1:', a�p principal
releases for 1 is as hereinafter referred to. P toward
Buyere obligation to perform here ,na
following Conditions haw. been satisfied er is waived:
cc , iticre i upon the
IF '
g s-fled or uaiveo:
(a) .Buyer making soil and engineering test; and (the e Tests) upon the
II property, the scope, puepose and results of w:.ac!, are satisfactory to Buyer
in Buyer's sole discrete.on. If the r.e=•alts of the Tests are not
satisfactory to Buyer, Buyer shall so rr,tif Self
Agreement shall be voidable in writing Seller,�. , �'�"t�.:Cux41. this
II iting by Buyer, in which case all earnest
money shall be returned to Buyer and neither party shall to further liable
to the other hereunder. Seller hereby grants Buyer end its agents
permission to go upon the Property for purposes of na'r'.ire the Tt. t
I shall fully and forever indemnify and }a_m� l s:-. Buyer
and save t „:�s4 Seiler from any claims,
liens and expenses arising therefrom.
I Unless Buyer notifies Seller In writing within sixty (60) days from the
date of Seller's acceptance of this Agree:cert that the soil tests are not
• satisfactory, this condition shall be deer ed tc be waived by Buyer.
', (b) Buyer obtaining from the City of Chanhassen and all other local, state
and federal governmental authoratiee having jurisdiction tl-ereof, all
necessary permits and approval,: to n� r lard .
w ,' pat and Use the Sara .according
r to the Buyer's Development Plan. f th s c ,div.o As
waived in writirg by Buyer cv f: not fulfilled or
II ,( . ee 'a. •� - "'-, then Buyer, at Buyer's
option, by notice in writing, addressed to Seller, Tray ter:t:inate this .
Agreement, in which case all earnest :coney shal . be returned to Buyer and
r neither party shall be further liable tc the other hereunder.
41?)49----
Notwithstanding anything hereinbefore conta.inei Pt•,«
-4c-e6ep''rm--cr i. a ' �t�' n rate this aer •
of the earnest money, if in Buyers sole. discretion, Buyer determinesethat
I • Buyer will be unsuccessful in fulfilling any or all of the aforesaid
conditions.
•
I
I -
PEB - 13 - 91 WED 1 1 : :_ •
P . 0 1
0•
•
w I
ADDENDUM TO PUN:EASE '•''"'R 'E,"Vr.N-r
PAGE TWO
Seller agrees th3*_ they G•` ll _oia with the Buyer in all requests that shall
be made by the Buyer at any eit.e reia :ive to :oring or plating and will I
execute .ith the tuye: ar.y and all east .rye.ts, etc. , reluieed in connection.
with said reques s end ;:il; give. tie Buyer all their cooperation in
connection thereeitp;; it being vflde'rst,od that all casts and ,Ixpenses will
be borne by the Buyer.
Buyer shall be entitle: to uereetraeted possession of the Property after closing.
Buyer agrees' that 1 tuild�_��g shall to ccnstruoe d of fly lot or parcel until '
_Buyer has rec ived the tiarranty Deed for that ,-
ma � hew ever .. 1;,, r �e .gel �rtm Seller. Buyer
4)<1
S ewe eh p� 'or to the :eceirt of said .Jarrett L ed fo. any such lot or II
parcel, remove , ush And Lndergrothh, cons eruct rc- and install utilities, •
grade to provia proper deaineeee, and raise lo.a
ar- as and level
high areas
sufficiently to ai :ee :oi st 'uc for t ereo end aceee� hereto. No action taken
pursuant to th's p ra€raph shall be d:c:;ed '.o constd: ,
tut- waste.
I
Sellers All have the r -r g ai 'pre debris from
r the � ^e � e e.:r�ns�.b«i*;: of xe::cvi:�^ 1 �_
pre, ,�s,.s prior eo the date of r l•c;ing:
1
•j (_ Buyer ,gees to hh'_:i Seller, 1� n� f;-,�;r ,art al
—,
actives of :� >�, •r. �` .`_' ,, al'd c1:�ai.:s arisii:g from
yer, a y )'�t;:'e:ea4ed arr-ss of ;he p ert Buyer h
reimburse Seiler for �v lee al Pr• .. sal
ar 1eea viceta e per:'ed by Seller in defe at
r.
resulting T. e a Ist Claims
eS ting frog: activit ,es t condeced b:: Buyer on tee _.'eject Property. Any bonds
or letters of credit r=guired :o�be fernis led to the City Of Chanhassen will be
at the sole expense of the Buyer. I
Within ninety (SO) dais from the date of acceptance of this Agreement, Seller
shall have a survey of the F rop rty prepared by a Minnesota Regi steeed Surveyor, I
certified to date to Buyer showing:
(a) The number of acres cor.tai ee. le the leeoperty excluding ?ub'
land thereunder :L:*., 3t?d to �•, 8 . .ic roads and I
? to t .e nearer: ore aeredredths (1, 100) of an acre;
(b) The exact legal fescription r.nd `oundpry lines of the Property;
(c) Encroachments from or onto the Property, if I-
any;
p Y,
(d) Lines of occupation, if differe-it from the bo':ndaries, thereof; I
- (e) Location of utility lines and e sements of record or appearing thereupon,
if any; I
(f) Assured bearings used by the surveyor; -
(g) Direct legal access °-roil a l;;b, is road to the Property; I
(h) The location of all b ildings aid other improvements on the Property.
I
,r
1
ADDENWM TO PUR IASE A :EEMEti:
PAGE THREE
f
V-9
The purchase -icd o f $11:.0CC.00 is based on said :ur c e �i:g 9.0 acres, if
the acreage shL. liby t to su.ve: or, exciudi e public roads Ad .and. the;eu'nder
is tore or less ,, a:� 9. ) acres, the 7urchase price and the . zunt of the Contract
for Deed shall a dJv;ted acceri rgly.
ITo the best cf Seller's F:nc»I_t.g. there are no existing violations of
environmental pollutaoi, or hazardcus waste laws, standards or regulation with
II 4) .�respect to the Fropert>. n .hc evert that it is`d' covered that h 2 rdous waste
or enviroet t:tel pcllu:ion oxists on the Peeper Seller shall responsible
II d for its cl, n up in a :or. 1
nd marrer satisfa� o y to the Buye
•
I The exec ion of tt.e f:n,al plat c:hieb provides the ded'_ation of park land,
roads or�'cy' a}na�.e_• ese: rota shall` '' e � '^,Il n6t be consids' =d e rele. se of land. From and
after eac \ toye.e. t of principal i:-cluding the _`rn.st , oney and downpayment,
-p Buyer steal be :..ntitlt d to a conveyance by czar, :ty '-ed of lots (five acre
r:,irziw:ti;r, s_z '?attec >` thin the P -o esty. The - ,,'c -once value for,each lot
,� shall be 120 r the gt.otient of tle purchase . r
price �idEd by the total ,number
of units to :�_atted on the Property. In the eve--o: hat the Property is not
platted, B i r V hal? nct be entitled to the release of ' `
' , the /t =y land prior to payment
in full of the n.rac'. for Deed. rr
' Notwithstanding any of ;er pravisicns of this Agreement to the contrary, it is
specifically agreed that Sellers s:,le ree.edy upon default by Buyer hereunder
shall be to ter;ainate :he Agreement eat and retain the earnest money as liquidated
,' damage . Seller shall have no re;,edy for specific perfcrnance nor any c
y a tion for
damages, nor e;:y for of persona', r-ecoor se against Buyer. It is further
understood the Euyer shill irde:onify and hold Seller harmless from any mechanic's
lien or other claims during the existence of the Contract for Deed herein
I desc'ribed.
f i`., ., -i; 1,�Ar f S ;,lf'.R5;2,r y!. v -Pe fi=r L.'.41 qt(i? Iv sett Us i` c, ar'4 , fs
• '••Zi TG flier ttee • /pt` ", �lle.,tfr;ele- e er`f�''-,.4! +4 � ' �'r•
,� SELLER: j BUYER:
• orth lore Partners
II d . - h • r
Ja4S H. Donovan apes L. Cs enson, Partner
il - i A dress:
7 08 Creekridge Carole, Suite 310
. B oomington, MN 55439
II . .
f . .
II .
_ .
• , . . .
ill .
._. .
_, _ _ _
I
K1ii e1hutz
&'Geis Ltd.
R E AL T OR H
•
Personalized Professional Service
/
February 18, 1991
City of Chanhassen
690 Coulter Drive
• Chanhassen, MN 55317
To Whom It May Concern:
This is in regards to the 9 acres owned by James Donavan '
that North Shore Partners is trying to get platted . James
Donavan agrees and gives permission to have the feasibility
study done to see if platting the land for development will
work out .
I have talked to James Donavan , who is in Florida for the
next couple weeks , regarding this, and I am signing this as
a representative of James Donavan.
Regards , '
Brian Klingelhutz
1
7811 Great Plains Blvd. • P.O. Box 4274. Chanhassen, 1\41•J 55317
Chanhassen Office (612) 934-00004. Corcoran Office (612) 420-8000
I a.
SVI*C1 if,COryri,h,Goo 1
PUB„C;HA .E, Px(.5.g.LLIvItiVi. /1:IN h.::um,'suceipt.
Minneapolis ' 0/Y
1, -,minne.cte_
2. RECEIVED OF North Shcta Partners _ _ -
,
11 .i„.....4,, 3. the sum of Yat Tw) 'V•inii sand jarld OOLIC..'4 '''''''1*
Tqle'1,,r, - . Dollars(s 2„0_02.0C
",':,'''....",•-• 4. by il"41'°I•C**Xtal6•XX°C.XXX as oornost money to be dopod to nod businel e do. a'tor acceptance h tr.;st aecount of listing broke+
,axp:7-,
1.3l'It.- 5. (unless otherwise specified ln writing',and In part poymem fur tho purchese of the legally doscrihed oi,.._
,' 6. - - - .
I v,-.,,....g,), %.
.......,... ,7
I.I ..'A-. '
,1-1,14_,''':• 8. located at(Street Address) .
--- . - .
-.--7 b. City of Che 11/1 a s sen ' .__. _ county of_____qa_l_-_""0:1-________-___...,State of Minnesota
10. including all plonts,shrubs and trees,all storm windo..vs and/or inserts,storm do:rs,soleenS,awnings,winc:?w snades,blinds,curtain
I 4-'4,,; 11. traverse-drapery rods,attochod lighting fixtures with bulbs.Our:blng fixtur ,water ater h-ieer,heet!ng syStm,hum ..er,oentralalreonditiorung
iii4' 12, electronic air filler,eutomatle garage door opener with control,water 5;.,ftanet,ea oie te eOsion cutietS eid ea Ang,BUILT-INS to Include
'rli. 13. dishwasher,garbage disposal,trash corapactor,oven(c),cool to sto..4,microwave neti,hood-fan,inter:om,:nstailed carpeting,IF ANY
gs.,..,perty:
14. located on the premises which are the property of Seiler and wt.s:.the feuving per...mai
Chanhassen, Minnesota, legal to be detecmined by survey. ' ..
15. ---- Z."1-111)
i.
I i 16. - - ..
'17. all of which property Seller hos this day sold to Buyer for the sum of;S-416M111.4!---#...
/C2(it , -
i. - 18.*** Onehutdred " thousandad001100 -- - -- _,. ...,1 Dollars
I . ...og
,....NR, VIII, .
- 1.' ./0,7in,-.•.. _:-,
' h' --r a>
:. s. , 0. .which Buyer agrees to,. In tile following m• 101F I.. Incl.cy of a 3.1_0.._0.Lq0.,..zi••../.. --.end
,t . 6 -. ,.. . .1-.:-A-.•!• -
cosh on.. .i~re eleMiL_,.. 4)Ar.e.v.r,1 "illf• ,the date of cl sing,a •the balanc,
_
,P, 22, ors 'S• I I •* by financing ea fciicwa: 2 -,i,..,,,,.. ..1.,,,. f..91.1.4.__,..o.....,:a.. a n tz act For Pe-,. (Minna s,
;P.,
I r 23,Uniform Co av.rice #5 4 ) with payment a lar$.2 0,000.00 in-:11.1011 y inte.re;;,t s.t\re rate of
1.16: 24. Xorr t‘e dart £ cloeing and T2O, ,:-.•a.co 4nc':vain:A nterest a
9% per ann one (1) year f .. s. __... .2_ _ . , ....,. ..
Od 25 ,_rate of 9% .or annum eaciiiirevery yit.AEheriiirEir..-Zir7tTr •-t.:. (63 y•er.•=s-iralkt e -.ate
26. of closin? '. which time the entire -q.nc I pal balance .h:. -with it...teli est .hereon
I
!... -..,y.. shall be i ..nd payable in fun.
- -
1
, 30: - ,
-
31, Attached aro a eddendums which are made a pan of t ils agreement. -....,..evag:„..f..:-,:.;-,-.
32. SUBJECT To performance by Buyer,Seller agrees to ONCCU:E a rd deliver a ---..t= g-_....!:'....=.......--;-.^ .----.=.----=-• Warranty Peet
33. to be Joined in by spouse,if any,conveying marketable title to he premiseS subject eniy to-the following a esept.AS:
I.: 34. (1) Building and zoning laws,ordinances,State and Federal regL latons,;21 Restrictio:is,ei.!iing to ufieo:iMp'ever,ent t.fthe premiseawithou
35, effective forfeitereprovislon,(3) Pesarvation of any minerals o•m:neral rights to the Stati:of Minnesota.(4) Utility ar:d drainage easement(
1
36. which do not interfere with present improvements.(5) Rights)f tenants.if any.
i II n
'37. REAL ESTATE TAXES Seller agrees to pay..1.1_/12t hs yid Buyer agrees tv pay____..--1 12(hs of t3xe5 due end payable In the yea
38. 19 9 0 .Seller agrees to pay 12 /12ths and Buyer treas.to pay___!.)_/'iZthe of an suet instaiiment of special assessments du(
I
9 XiCaltrm..n
• 39, end payable in the year 19 0-, " agrees to .LYAIKY_ EX on the cl3t3 of esosing all epee's!essesanents levied and pm
I:I .•
a s
1„ 40. Buyer shall pay taxes due and payable in the year 19 2,end any unpaid instailm erils of special assamerits payable therewItt
91 )11 v ,.oreory6..xxxxxx
41. and thereafter,Seller warrants that taxes due and payable in he year 19.-a-,•wi'l be. Y- 0,--S:r, •-:-,--..-----homestea(
42. classification,Neither Seiler nor Seller's Agent makes any real eSentatien concernin the amount of fature real estate taxes.
0:
I ,. 43. WARRANTIES Seller warrants that buildings,if any ere e Threiy w:thin the be...in.:lei y:tiles of the promist.S.Seller warrants that el
ll. 44. appliances,heating and air conditioning,wiring and plumbing used and teeated onthe',remises era in propei worl.ing order ondate of closing
i;•.,,, ‘45. Buyer has right to Inspect premises prior to closing.Buyer shall satisfy himself/11mo.!at I-is/her expe.lse that al'°prances,heating and el
146. conditioning,wiring and plumbing are in proper working order!)ef,re closing.Seller worrtnts that the premises,,re connected to:city sewe
.4,4 •7..C1 yes-clitno:city water 0 yes-01 no, If the premises are lestroyed or substartiaily damaged by fire or arty other cause before the
I ..4 48. closing date,this agreement shall become null and void at Buyer's option,and tha tamest money shell be reit);ded to Buyer.
, 49. POSSESSION Seller agrees to deliver possession not later than date et 0.-.sing,
50. All Interest,city water end sewer charges,electricity and re:v.812es charges,fuel o:landli.;;J!dpetroleurn go;she a be pro•rated between the
51. parties as of... r1ii.1"e_Ar . .serer agree;to remove a:I debris end ell personal prop,:rty'it Included herein from the
- 62. premises before possession date.
63. TITLE Si EXAMINATION Seller shell,within a reasonable tirrw after Doi:vol....nee o'th.s fog:cement, f err:1st an Abstract of Title,or a
.
54. Registered Property Abstract,certified to date to Include proper senrch oev
es ering bar V,spf.:if.5,State and Fe,feral udgments andlienS,Buyer
•
55. shall be allowed 10 business days after receipt for examinet!6n of title env making sty oblecron5,which shall be made in writing or deemed
56. waived.II any objection Is so made,Setter shell be allowed 120 Gays to mel.e title ma:1.etabit.Pending correa.lon of title,payments hereunder
57. required shall be postponed,but upon correction of title and.v,thin 10 days after tettte n notice to Buyv,the ponies shall perform this
58, agreement according to its terms.If title Is not corrected within 120days from the e'as.‘or written objection,this eareernent shall be null end
69, void,at option of Buyer,neither party shell be liable for damages hereunder to the other,end earnest money she ii be•efundad to Buyer,
60. DEFAULT If title is marketable or is corrected within said time,iln m
d Buyer defaults in any of the agreements limit.,Ser.er may terminate this
I , 61. agreement,and on such termination all payrrients made hereunc'e•enalibe retenect by 5 rt.;,wilAgent,as theit rasp.stive interests mayappear,
02, as liquidated damages,time being of the essence hereof.This prNiser,shalt not depriue ei:t.,erparer°role right r t
f.g-to,en.ore rig the specificparformance
63. of this agreement,provided this agreement is not term:prat%a:eon tuentc:ce ape;,'ic.performance is commer eed'.'thin six months after
,. 64. such heht.of sci.o.1 arises.In the event Buyer de!ealts In his;Warm.arca of the It ims IN:Ae a:erne-to an,:Nol:ce of Cancellation li
,,' 65, served ueon the Buyer pursuant to MSA 559.21,the te rrr ir a ion period she!:be y(*:. 'i IBA a!.pernitte...by iubdivisiOn 4 of Al$,s
I
a-, • 67,ACCEPTANCE Buyer understands and arees that this I A•-.
68 on account of this a roe me n.
acir e tihs e s encet stt o m acocneepyt.
er: by Seiler in vr,"..g.A gent'a non
Ilisble or responSible
fe 69. AGENCY DISCLOSURE - 21±"E`'"c1""c"wt1)'(1Jt' .-- stipulates lie t r>Se!S representing tie ' OW fi in ttfli
70: In this transaction.Ttle Hating agent or broker stipulates.hc or ille Is repr000nllng th!&t::or In-this trensielon:
• 71, I. the owner-of the premises. accept this agreement aod I agree t .11 I •
C/Put: Mt'!le premises for the;Ice end on the terms and
72. the sale h.er7 ado. condal s$et fonh above. .
73. ULLA . $14L(..-.) /(POI el;rt L.L BUYER f..
-
Jim s H, Donovan or . cl a Partn w. .
... • z
74. SELLER
-------
,,. -- BUYER ' • . ■ _
-it:. 3 mes L. stenso t) Partner
75. Delivery of all papers and monies shall be made at the office ot:
.4
76. Company . - -_ Selling Agent ......._ ,- . ..
city ;
p,.77-. •77.Addrss ,._ . .
..
iiiikv,..• -, ...
4:
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1