HRA 1981 09 10AGENDA
SPECIAL MEETING
Chanhassen Housing and Redevelopment Authority
Thursday, September 10, 1981
Chanhassen City Hall, 690 Coulter Drive
Upper Level Conference Room
7:30 P.M.
7:30 p.m. - 1. Call to Order.
r 2. Approve Minutes of August 20, 1981.
3. Clarify BRA action of December 18, 1980
Concerning John Havlik Property Acquisition.
4. Authorize Traffic Analysis Study for Highway
5 /County Road 17 Intersection.
5. Old Business.
6. New Business.
9:00 p.m. - 7. Adjournment.
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Chanhassen Housing and Redevelopment Authority Meeting
August 20, 1981
Minutes
Called to Order
The meeting was called to order at 7:40 p.m.
Gullickson and Commissioners Horn, Bohn, and
Whitehill. Executive Director Scott Martin
Approval of Minutes
Bohn moved, seconded by Horn, to approve the
23, 1981 meeting as presented. All voted in
carried.
Bond Sale Report
Present were Chairman
Russell. Absent was
aas also present.
minutes of the July
favor and the motion
Martin reported that the City Council authorized the issuance of
$4.715 million in General Obligation Tax Increment Bonds at a net
interest rate of 11.999 percent on August 13, 1981. Bond proceeds
should be received within the next 4 -5 week period, so the Instant
Web closing date has been tentatively scheduled for September 11, 1981.
The Commissioners authorized the outright acquisition of the Huber
property as soon as possible using available bond proceeds if the
property can be purchased below the appraised value. Purchase option
agreements should also be secured for the Havlik and Riviera properties
within the next month. Remaining funds in the property acquisition
account should be utilized for obtaining purchase options on other
properties needed to complete the downtown project.
Sorenson Property Acquisition (Parcel #8)
Mike Sorenson was present to request an adjustment in the price offered
by the HRA for his property located along the east side of Great Plains
Boulevard, just south of W. 79th Street. He presented an overview of the
history of his attempts to develop this property and discussed the
development planning costs associated with these attempts. He requested
an adjusted purchase price of $25,000.
Commissioner Russell suggested a compromise offer of $23,500 in order
to settle the matter. He also suggested the possibility of working
out a land trade with Mr. Sorenson if he would commit to developing
a project acceptable to the HRA and City within the next year or two.
Sorenson said that neither offer would be acceptable. He offered to
accept the original offer of $22,000 for his property, but added that
he would sue the City to recoup the development planning costs incurred
to date for this property.
The Commissioners felt that this matter should be discussed with the
attorney prior to any final decision.
Following general discussion, Russell moved, seconded by Bohn, to
acquire the Sorenson property at a total purchase price of $25,000.
All voted in favor and the motion carried.
Chanhassen HRA Meeting
August 20, 1981
Minutes
Page 2
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Courtyard Sculpture Competition
Chairman Gullickson presented a brief report on this item and promised
a more detailed update report at the next meeting.
W. 79th Street Realignment Project
j Horn moved, seconded by Russell, to authorize BRW, Inc. to proceed
with the engineering plans and plat for realignment of W. 79th Street,
east of Great Plains Blvd., at a cost not to exceed $5,400. All
r voted in favor and the motion carried.
Adjournment
Horn moved, seconded by Bohn, to adjourn the meeting at 9:30 p.m.
All voted in favor and the motion carried.
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STAFF REPORT
CITY OF 3
CHANHASSEN
690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317
(612) 937 -1900
TO: Chanhassen HRA
FROM: Scott A. Martin, Executive Director
DATE: September 9, 1981
RE: Havlik Property Acquisition
Russ Larson will be direct mailing an update report on the
Havlik acquisition negotiations to you prior to the meeting
scheduled for Thursday, September 10, 1981.
7
LARSON & MERTZ
�.
ATTORNEYS AT LAW
1900 FIRST BANK PLACE WEST
RUSSELL H. LARSON
MINNEAPOLIS, MINNESOTA 55402 TELEPHONE
CRAIG M. MERTZ
(612) 335 -9565
May 29, 1981
OF COUNSEL
HARVEY E.SKAAR
MARK C. MCCULLOUGH
the Chanhassen
Mr. Scott Martin
Executive Director
Housing & Redevelopment Authority
Box 147
j� Chanhassen MN 55317
FLand and building 165,000
II Immovable equipment 25,605
Relocation 10,000
F200,605
John Havlik appeared before the BRA on December 18, 1980, and presented
his arguments that in order to relocate his business to a corner lot on
West 78th Street (Burdick Park) he would require considerable additional
financial assistance from the HRA.
Thereupon, on December 18, 1980, by a motion made by Cliff Whitehill,
seconded by Jim Bohn, the HRA adjusted the total appraisal from $200,605
to $246,105. In the same motion the land cost credit was fixed at 15%
of the new site and new building cost. Those voting for the motion were
Bill Gullickson, Cliff Whitehill, Jim Bohn and Mike Niemeyer. Tim Russell
was absent.
I' This action by the HRA was taken under the authority of the "draft"
resolution of November 20, 1980, which covered severe financial hardship
r cases. You will recall that you ZRUSSEL ELARSON this entire approach
at a meeting the week of June 1.
CITY Of CHANHASSEN
REGEI�i ED
Chanhasse n City AttorneyjUN 11981
RHL:ner COMMUNITY DEVELOPMENT DEPT.
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Re: Chanhassen Tire
and Auto
(John Havlik)
Acquisition Parcel 30
Dear Scott:
FAs
the HRA appraisal file will indicate,
the Chanhassen
Tire & Auto land
and building were appraised on March 26,
1980, at
a value of $165,000.00.
The immovable equipment was appraised at
$25,605,
and relocation benefits
were appraised at $10,000. The total values are
set out as follows:
FLand and building 165,000
II Immovable equipment 25,605
Relocation 10,000
F200,605
John Havlik appeared before the BRA on December 18, 1980, and presented
his arguments that in order to relocate his business to a corner lot on
West 78th Street (Burdick Park) he would require considerable additional
financial assistance from the HRA.
Thereupon, on December 18, 1980, by a motion made by Cliff Whitehill,
seconded by Jim Bohn, the HRA adjusted the total appraisal from $200,605
to $246,105. In the same motion the land cost credit was fixed at 15%
of the new site and new building cost. Those voting for the motion were
Bill Gullickson, Cliff Whitehill, Jim Bohn and Mike Niemeyer. Tim Russell
was absent.
I' This action by the HRA was taken under the authority of the "draft"
resolution of November 20, 1980, which covered severe financial hardship
r cases. You will recall that you ZRUSSEL ELARSON this entire approach
at a meeting the week of June 1.
CITY Of CHANHASSEN
REGEI�i ED
Chanhasse n City AttorneyjUN 11981
RHL:ner COMMUNITY DEVELOPMENT DEPT.
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LARSOR & MERTZ
ATTORNEYS AT LAW
1900 FIRST BANK PLACE WEST
I" RUSSELL H. LARSON - MINNEAPOLIS, MINNESOTA 55402
CRAIG M. MERTZ
OF COUNSEL September 4, 1981
HARVEY E. SKAAR
MARK C. MCCULLOUGH
Scott A. Martin
Executive Director
Chanhassen Housing and Redevelopment Authority
Box 147
Chanhassen MN 55317
TELEPHONE
(612) 333 -1511
r Re: Chanhassen Tire & Auto Acquisition
Dear Scott:
As I advised you recently, I met with John Havlik on August 27, 1981,
to discuss the acquisition and relocation of his business property.
Because ofthecomplex nature of this acquisition, nothing definitive
was accomplished. However, a number of points were discussed and
these are set out in this report.
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One of the primary issues was the interpretation of the HRA action
on December 18, 1980, relating to an adjustment of the appraisal
price of $200,605.00 by $45,500.00. This action followed a discussion
by John Havlik concerning the need for this adjustment if he were to
relocate within the tax increment district.
At the meeting on December 18, 1980, John furnished the commissioners
with the attached materials which he felt justified an increase of
$45,500 over the initial appraised value of his property, including
land, building, immovable equipment and relocation. The HRA action
taken that evening was on motion by Commissioner Whitehill, seconded
by Jim Bohn, to adjust the appraisal of the $200,605 value by $45,500
and to extend to John the 15% land and building cost credit. This
action was passed unanimously by the four commissioners present,
Commissioners Gullickson, Whitehill, Niemeyer and Bohn.
* It was my interpretation of this action that the $45,500 adjustment
would be valid only if the business were relocated within the tax
increment district. This position is supported, I feel, by the attached
exhibit furnished the commissioners at the time of that meeting.
As to a potential relocation site, John advised me that he was
interested in the southwest corner of West 78th and Monterey in the
Burdick Park. He further advised that he had discussed this acquisition
with Burdick who advised him that the land cost for this 52,400
square foot parcel would be $3.50 per square foot, the total cost
being $183,400.00.
Scott A. Martin
Executive Director
September 4, 1981
Page Two
As to building plans and specifications, and contractor's bids,
John advised that he had no such documents at hand. All he had
was an oral bid by Earl Weiklen & Sons, Minneapolis gas station
builders, to build a structure of a total cost of $171,000,which
construction would include the basic building, fuel tanks, pumps,
hoists, and all filling station equipment. John did state that
r there was supposed to be a written estimate in the mail to him
and that he would deliver a copy to us as soon as received. To date,
we have received no such construction bid.
Of primary concern to John, in addition to the $45,500 add -on item,
is the cost of financing any potential improvement. He advised
that he has talked to the Chanhassen Bank and was informed that he
r would be looking at an 18 -19% interest rate on any financing through
j that institution.
r Certain miscellaneous issues were discussed, including the right of
John to remove as much personal property as he could use from the
present building. Additionally, he wants to do much of the land-
scaping and finishing work himself, which I thought was appropriate,
provided sufficient safeguards were given to the HRA and the City
that the work would be done within a prescribed time, and according
to City standards.
With respect to a rental for the time John would be in possession
after the HRA acquisition, he was firm that all he would pay would be
r a $1.00 rental, citing the Instant Web rental arrangement. I asked
him to consider paying a real estate tax on a pro rata basis for the
time he is in possession after HRA acquisition, but this was flatly
r refused.
As you can tell from this report, nothing definitive was concluded
and that the critical issue is the determination of the status of
the $45,500 add -on.
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;ver tr ly urs,
RUSSELL H. LARSON
Chanhassen City Attorney
RHL:ner
cc: HRA Commissioners CITY OF CHANHASSEN
RECEIVED
SEP 81981
COMMUNITY DEVELOPMENT DEPT.
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I feel that I have justification for an additional $45,500 over and
(� above the current offer of $200,000 plus 15% of new land and buildin,
l construction.
The following is a breakdown as to why I feel this way.
(1) On the current appraisal, land was
valued at $2. 23 /sq, ft. x 53,8$30 , �/ $120,000
ANT I have an option on a new tract of
land at $2.50 /sq. ft. x 52,400 $131,000
Additional costs $11,000
(2) The current building has been
appraised (3/26/80) at $125,000, -
and depreciated 66 2/3 %, leaving
a current value of $45,000.
Approximately one year will have
passed by the time the property
is actually purchased. Figuring
a 12% inflation factor x $45,000 $5,400
(3) The appraisal states there is
immovable property @ $42,600 $42,600
which has been depreciated 17,000
40% or $17,000, showing a value
(' in place of $25,600. $25,600
I have received at least two
r bids to replace only what I
currently have. The lowest
is for $60,000; using a 40% $60,000
depreciation factor -- $24,000; 24,000
leaving a balance of $36,000
or a difference between the $36,000
appraised value in place of
j' $11,600.
l $11,600
(4) The appraised has used a 66 2/3%
�^ depreciation factor which I
feel is unfair. The building was
substantially rebuilt in 1965 due
to a tornado. Using a 50% depre-
ciation factor: $125,000
62,500
Balance $62,500
This means there has been a net
gain of $17,500 over and above the
$45,000 shown in the appraisal. $17,500
f4 $45, 500 ?
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a«�, 6os
After reading the IIRA's resolution establishing the 15° land
cost credit policy, I find xi.pxa ;t };el}IA in Section 3 E
has the right to grant the above request adjustment of $45,500
to my overall purchase price.
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SCHEDULE A `
JOHN HAVLIK NEW PROPOSED BUILDING
(Cost of new building Kraus- Anderson: $200,000)
Cost of New Building $155,000
Cost of Land 131,000
Cost of Pumps 60,000
$346,000
Tax Incentive 15%
$52,000
Total Cost
$346,000
Less: Tax Incentive
- 52,000
$294,000
Less: Appraisal
- 200,000
$94,000
Additional Amount of Appraisal
- 20,000
$74,000
Add Old Mortgage
+68,000
$142,000
Less: New Mortgage
- 86,000
BALANCE
$56,000
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REPLACEMENT COST ANALYSIS
JOHN HAVLIK BUILDING
0
SCHEDULE B
CITY
OWNER
BUILDING
$125,000
$148,000
LAND
120,000
131,000
$245,000
$268,000
TANKS, ETC.
25,000
60,000
RELOCATION
_10,000
10,000
$280,000
$338,000
LESS
220,000
220,000
$60,000
$118,000
- 45,000
- 45,000
$15,000
$73,000
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SCHEDULE C
JOHN HAVLIK NEW PROPOSED BUILDING
(Cost of new building Kraus - Anderson: $200,000)
Cost of New Building $155,000
Cost of Land 131,000
Cost of Pumps 60,000
$346,000
Tax Incentive 150
$52,000
Total Cost
$346,000
Less: _Tax Incentive
- 52,000
$294,000
Less: Appraisal
- 245,000
$49,000
Additional Amount of Appraisal
- 24,500
$24,500
Add Old Mortgage
+68,000
$92,500
Less: New Mortgage
- 86,000
BALANCE__
$6,500
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STAFF REPORT
CITY OF
CHANHASSEN
690 COULTER DRIVE • P.O. BOX 147 • CHANHASSEN, MINNESOTA 55317
(612) 937 -1900
TO: Chanhassen HRA
FROM: Scott A. Martin, Executive Director
DATE: September 4, 1981
RE: Traffic Analysis Study for Highway 5 /Co. Rd. 17 Intersection
More information on the scope and estimated cost of this study
will be available at next week's meeting.
I will be meeting with BRW engineers, the City engineer, and
officials from Carver County and the Minnesota Department of
Transportation in advance of the September 10th meeting. A
full report will be given at the HRA meeting.
in
TABLE 4
PROJECT EXPENDITURES
SHORT -RANGE COSTS
Item
Amount
1.
Acquisition, Relocation, Demolition
and
$
6,500,000
Site Preparation
2.
Public Improvements
$
7,500,000
CBD Area
a. Ring Road
$1,000,000
b. Utilities
$ 500,000
c. Pedestrian Paths
$1,000,000
d. Open Court
$1,000,000
e. Entrance Areas
$ 500,000
Phase I - Business Park Area
f. Streets and Utilities
$2,750,000
g. Pedestrian /Bicycle Trails
$ 250,000
h. Signalization• and
$ 500,000
Channelization of New
Co. Rd. 17 & Hwy. 5 and
Old Co. Rd. 17 & Hwy. 5
Intersections
3.
Administrative & Legal*
$
2,000,000
4.
Contingency
$
1,000,000
TOTAL SHORT -RANGE EXPENDITURES = $17,000,000
* Includes: Project Administration, Relocation, Professional Services
(Planning, Economic, Legal, Appraisal, Brokerage,
Engineering, Architectural, Bond Counsel), Financing.
9A
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IF
TABLE 5
PROJECT EXPENDITURES
LONG -RANGE COSTS (BUSINESS PARK AREA)
Item Amount
Phase II - Business Park Development (South of railroad tracks and
west of New County Road 17) ,
1. Streets and Utilities $1,250,000
2. Pedestrian /Bicycle Trails and Lake $ 250,000
Susan Park Improvements
3. Public Works Facility $1,000,000
Phase III - Business Park Development (South of railroad tracks/
Highway 5 and east of New County Road 17).
4. Streets and Utilities $2,400,000
5. Grade Separated Intersection at New $2,500,000
County Road 17 and Highway 5 and
Upgrading of Highway 5
6. Reconstruction of Highway 101 South $ 500,000
of Highway 5
7. Pedestrian /Bicycle Trails $ 100,000
TOTAL LONG -RANGE COSTS
= $8,000,000
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(- LAItsoN & M ItTZ
{I ATTORNEYS AT LAW
1900 FIRST BANK PLACE WEST
i RUSSELLH.LARSON MINNEAPOLIS, MINNESOTA 55402
TELEPHONE
CRAIG M. MERTZ
(612) 333 -1511
OF COUNSEL September 2, 1981
HARVEY E. SKAAR
MARK C. MCCULLOUGH CITY
� OF C 1
HANHASSE
Chanhassen Housing and
Redevelopment Authority SEP 31981
c/o Scott A. Martin, Executive Director
PO Box 147
Chanhassen MN 55317 COMMUNITY DEVELOPMENT DEPT.
(� Re: Acquisition Parcel 8
Michael J.and Jeanne A. Sorensen Property
See Exhibit "A" attached for description
I
Gentlemen:
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_ In accordance with established procedures, we have examined the
Registered Property Abstract covering the premises described in Exhibit
A attached.
The Registered Property Abstract as presented for examination was
prepared by Carver County Abstract and Title Company and was
dated August 24, 1981, at 9 o'clock A.M. The Registered Property
Abstract covering the above described property showed that it was
described on Certificate of Title No. 11503 dated December 11, 1978.
The Certificate is registered in Volume 34 of Certificates at page 151.
j According to said Certificate of Title and Registered Property Abstract,
L the property is registered in the following name:
Daniel Ambrose Klingelhutz
(wife is Mary Ann Klingelhutz)
Such ownership is subject to the following:
1. Subject to procurement of the Owners Duplicate Certificate
of Title.
2. Subject to the last half of the real estate taxes payable in
1981. The unpaid taxes are in the amount of $178.53.
3. Subject to the rights of any person or persons in possession
of the premises above described.
4. Subject to the right of any person or persons to claim a lien
on the premises herein for work performed or materials furnished in
_ the improvement of said premises within the last 90 days.
Chanhassen Housing and Redevelopment Authority
September 2, 1981
Page Two
5. Subject to all encroachments, easements and other matters
that might be ascertained by an actual survey and inspection of the
premises above described.
6. Subject to existing zoning and building regulations and
ordinances.
7. A special assessment search furnished by the City of
Chanhassen discloses that there are no unpaid special assessments
nor pending assessments against these premises.
8. The interest of Michael J. Sorensen in said premises is
derived from a contract for deed, dated February 21, 1979, recorded
February 21, 1979, in Volume 34 Torrens page 151, as Document No.
29316, executed by Daniel Ambrose Klingelhutz, aka Daniel Klingelhutz,
and Mary Ann Klingelhutz, contract for deed vendors to Michael Sorensen.
9. The following statutory exceptions appear upon the face of
the Certificate of Title:
a. Liens, claims or rights arising under the laws of the
Constitution of the United States, which the statutes of
this state can not require to appear of record.
b. Any tax or special assessment for which a sale of the land
has not been had at the date of the Certificate of Title.
c. Any lease for a period not exceeding three years, when there
is actual occupation of the premises under the lease.
d. All public highways embraced in the description of the lands
included in the Certificate shall be deemed to be excluded.
e. Such right of appeal or right to appear and contest the
application as is allowed by law.
f. The rights of any person in possession under deed or
contract for deed from the owner of the Certificate of Title.
We shall be in a position to close on the acquisition of this parcel
upon delivery to the HRA of the following documents, all of which shall
be in form and content acceptable to this office:
a. Title insurance binder issued by Title Insurance Company of
Minnesota.
b. Warranty deed, Klingelhutz to Sorensen,with state deed taxes
affixed.
c. Warranty deed, Sorensen to HRA (prepared by this office).
d. Affidavit of Seller (prepared by this office).
Chanhassen Housing and Redevelopment Authority
u September 2, 1981
Page Three
III
e. Receipt for payment of last half of 1981 real estate taxes.
f
V f. Seller's funds in amount of $45.25 to cover cost of
registered property abstract.
g. Seller's funds in amount of $5.00 to cover cost of
filing Klingelhutz deed.
h. Owners duplicate certificate of title.
A copy of this opinion is being forwarded to Kohlrusch Abstract &
Title Service, Inc.,Attorney Robert Nicklaus, representing Messrs.
dKlingelhutz and Sorensen, and Mr. Sorensen.
Very ly yours,
Russell H. Larson
Attorney for Chanhassen
Housing and Redevelopment Authority
RHL:ner
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EXHIBIT A
DESCRIPTION OF PREMISES
That part of the Northwest Quarter of the Northeast Quarter of
Section 13, Township 116, Range 23, West of 5th principal meridian,
described as follows:
Beginning at a point on the West line of said Northwest
Quarter of the Northeast Quarter, distant 611.91 feet
Southerly from the Northwest corner of said Northwest
Quarter of Northeast Quarter; thence Southerly along said West
line a distance of 110.79 feet; thence Easterly at a right
angle to said West line a distance of 146.00 feet; thence
Northerly parallel with the West line a distance of 122.68
feet; thence Westerly along a non - tangential curve concave to
the North having a radius of 2059.86 feet and a central
angle of 4* 04' 31" a distance of 146.51 feet to the point
of beginning.
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W HITF— Office tbpy
v IdLLO W— Puycr'a l-npy
I; REEINt— :iell�r':a t bp}'
1.1NK— l3uyei = fG•celGt
PURCHASE AGREEMENT/��
M. /CuJ r
Chanhassen di -
Minn., , 81
19..... .
RECEIVED OFHousin. g_. and.. Redevelo. pment.. Autho .rity...of._Chanhassen,,,.14 nnesota
the sum of Twenty Five Hundred and no /100----------- - - - - -- 2500.00
........................................... _ .................. I._._. .... ........__ ..... 1 _($_...._._...........) DOLLARS
the .............. _...... _........ ............................. .as earnest money and in part payment for the purchase of property at
(Check to be deposited upon acceptance, or Note— State Which)
State Highway No. 101 and West 79th Street,Chanhassen
... ...... ......_.......____ .................................. - ............... ...._...._.._............_._.. _, .. __ _...._..... situated in the
County of ... CdYV2r,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,, ,, „. „- „,,,.... State of Minnesota, and legally described as follows, to -wit:
See Attached Exhibit A
- -, r-- - - - --- _ -.. _.,.. _.....- .,_.., _.....
shades, blinds (inc u in curtain rods, traverse rods, drapery rods, It ht u s, plumbing
fixtures, hot water tanks and heating plant (wit an of er equipment used in connection there-
with), water softener and liquid gas tan i t e property of se et ision antenna, inciner-
ator, built -in dis a isposal, ovens, cook top stoves and central air conditioning equipment, 1 an ,
all of which property the undersigned has this day sold to the buyer for the sum of:
Twenty ..Five...Th..ouA and, ..and_, no/ 100 - - -- .- .-- .- .-- .----- - - - -.- ..(525, 000.00) DOLLARS,
which the buyer agrees to pay in the following manner
2,500.00 22,500.00 September 15, 198
Earnest money herein paid $ .. . ............. and V.. ..... .... .., cash, on ......... ...., the ate of closing.
Seller agrees to pay in full all present special assessments against
the subject premises, whether or not currently levied.
Subject to performance by the buyer the seller agrees to execute and deliver a .... _... General ........_.. ........._. ........_.._ ................... Warranty Deed
(to be joined in by spouse, if any) conveying marketable title to said premises subject only to the following exceptions:
(a) Building and zoning laws, ordinances, State and Federal regulations.
(b) Restrictions relating to use or improvement of premises without effective forfeiture provision.
(c) Reservation of any minerals or mineral rights to the State of Minnesota.
(d) Utility and drainage easements which do not interfere with present improvements.
(e) Rights of tenants as follows: (unless specified, not subject tq¢2ttancies)
The buyer shall pay the real estate taxes due in the year 1 ....... Ht150 X0J5X&X = =fix ffii£j3YidaYSlXXXR&K XYANXXX
ad5&D1XBa= Seller warrants that real estate taxes due in the year 19 8,2... will be ._ .__ non ............ ................... homestead classification
(full, partial or non - homestead — state which)
Neither the seller nor the seller's agent make any representation or warranty whatsoever concerning the amount of real estate taxes
which shall be assessed against the property subsequent to the date of purchase.
Seller covenants that buildings, if any, Are entirely within the boundary lines of the property and serees to remove all personal_ prope�cry�
not included herein and all debris from the premises prior to possession date. ] CX. 9{ AQ7C2iD7X.&iQtSXXiXX�XaYdC�W4Vc
The seller further agrees to deliver possession not later tha.Sep.temb.er...1.7 ,, 1981 . provided that all conditions of this
agreement have been complied with. Unless otherwise specified this sale shall be closed on or before 60 days from the date hereof.
.w¢nswaswastwxwvi.},' Faun+ 4' RUf+ avwspuaacinw. nafu¢ uncngramxusreuauea�asvvn�mrr�ut�avn.
�37sec4g x,rn3x acxts lane€ x l� x: tx�[ n ..ncao acacicadsanr��3x� raacxxR�cltxxaa�xx
�c�* �x, r, ��*; a, riE�acx�a,< r5�1�¢ at�i €.3f3ft'�ntB@aoxd&xsxi�xx .......... ....... _. ................. ..._............
The seller shall, within a reasonable time after approval of this agreement, furnish an abstract of tide or a Registered Property
Abstract certified to date to include proper searches covering bankruptcies, and State and Federal judgments and liens. The buyer shall be
20 all(3vZr d days after receipt thereof for examination of said title and the making of any objections thereto, said objections to be made in
writing or deemed to be waived. If any objections are so made the seller shall be allowed 120 days to make such title marketable. Pending
correction of title the payments hereunder required shall he postponed, but upon correction of title and within 10 days after written notice
to the buyer, the parties shall perform this agreement according to its terms.
If said tide is not marketable and is not made so within 120 days from the date of written objections thereto as above provided, this
agreement shall be null and void, at option of the buyer, and neither principal shall be liable for damages hereunder to the other principal.
All money theretofore paid by the buyer shall be refunded. If the tide to said property be found marketable or be so made within said time,
and said buyer shall default in any of the agreements and continue in default for a period of 10 days, then and in that case the seller may
terminate this contract and on such termination all the payments made upon this contract shall be retained by said seller and said agent, as
their respective interests may appear, as liquidated damages, time being of the essence hereof. This provision shall not deprive either parry of
the right of enforcing the specific performance of this contract provided such contract shall not be terminated as aforesaid, and provided action
to enforce such specific performance shall be commenced within six months after such right of action shall arise.
The delivery of all papers and monies shall be made at the office of:
HRA Executive Director
Chanhassen °'City ... Hall— ............
I, the undersigned, owner of the above land, do hereby approve
the above agreement and the sale thereby made.
By..._.._ ..................... ....._................_........ ............._..........__Agent
I hereby agree to purchase the said properry for the price and
upon the terms above mentioned, and subject to all conditions
herein expressed.
Chanhassen H.R.A. (SEAL)
......................................................... ...............................
.
................ `^”. >- ..'.1.'..1 tB..�............. '........................ (SEAL)
Buyer
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PURCHASE AGREEMENT/��
M. /CuJ r
Chanhassen di -
Minn., , 81
19..... .
RECEIVED OFHousin. g_. and.. Redevelo. pment.. Autho .rity...of._Chanhassen,,,.14 nnesota
the sum of Twenty Five Hundred and no /100----------- - - - - -- 2500.00
........................................... _ .................. I._._. .... ........__ ..... 1 _($_...._._...........) DOLLARS
the .............. _...... _........ ............................. .as earnest money and in part payment for the purchase of property at
(Check to be deposited upon acceptance, or Note— State Which)
State Highway No. 101 and West 79th Street,Chanhassen
... ...... ......_.......____ .................................. - ............... ...._...._.._............_._.. _, .. __ _...._..... situated in the
County of ... CdYV2r,,,,,,,,,,,,,,,,,,,,,, ,,,,,,,,,,,,,,,, ,, „. „- „,,,.... State of Minnesota, and legally described as follows, to -wit:
See Attached Exhibit A
- -, r-- - - - --- _ -.. _.,.. _.....- .,_.., _.....
shades, blinds (inc u in curtain rods, traverse rods, drapery rods, It ht u s, plumbing
fixtures, hot water tanks and heating plant (wit an of er equipment used in connection there-
with), water softener and liquid gas tan i t e property of se et ision antenna, inciner-
ator, built -in dis a isposal, ovens, cook top stoves and central air conditioning equipment, 1 an ,
all of which property the undersigned has this day sold to the buyer for the sum of:
Twenty ..Five...Th..ouA and, ..and_, no/ 100 - - -- .- .-- .- .-- .----- - - - -.- ..(525, 000.00) DOLLARS,
which the buyer agrees to pay in the following manner
2,500.00 22,500.00 September 15, 198
Earnest money herein paid $ .. . ............. and V.. ..... .... .., cash, on ......... ...., the ate of closing.
Seller agrees to pay in full all present special assessments against
the subject premises, whether or not currently levied.
Subject to performance by the buyer the seller agrees to execute and deliver a .... _... General ........_.. ........._. ........_.._ ................... Warranty Deed
(to be joined in by spouse, if any) conveying marketable title to said premises subject only to the following exceptions:
(a) Building and zoning laws, ordinances, State and Federal regulations.
(b) Restrictions relating to use or improvement of premises without effective forfeiture provision.
(c) Reservation of any minerals or mineral rights to the State of Minnesota.
(d) Utility and drainage easements which do not interfere with present improvements.
(e) Rights of tenants as follows: (unless specified, not subject tq¢2ttancies)
The buyer shall pay the real estate taxes due in the year 1 ....... Ht150 X0J5X&X = =fix ffii£j3YidaYSlXXXR&K XYANXXX
ad5&D1XBa= Seller warrants that real estate taxes due in the year 19 8,2... will be ._ .__ non ............ ................... homestead classification
(full, partial or non - homestead — state which)
Neither the seller nor the seller's agent make any representation or warranty whatsoever concerning the amount of real estate taxes
which shall be assessed against the property subsequent to the date of purchase.
Seller covenants that buildings, if any, Are entirely within the boundary lines of the property and serees to remove all personal_ prope�cry�
not included herein and all debris from the premises prior to possession date. ] CX. 9{ AQ7C2iD7X.&iQtSXXiXX�XaYdC�W4Vc
The seller further agrees to deliver possession not later tha.Sep.temb.er...1.7 ,, 1981 . provided that all conditions of this
agreement have been complied with. Unless otherwise specified this sale shall be closed on or before 60 days from the date hereof.
.w¢nswaswastwxwvi.},' Faun+ 4' RUf+ avwspuaacinw. nafu¢ uncngramxusreuauea�asvvn�mrr�ut�avn.
�37sec4g x,rn3x acxts lane€ x l� x: tx�[ n ..ncao acacicadsanr��3x� raacxxR�cltxxaa�xx
�c�* �x, r, ��*; a, riE�acx�a,< r5�1�¢ at�i €.3f3ft'�ntB@aoxd&xsxi�xx .......... ....... _. ................. ..._............
The seller shall, within a reasonable time after approval of this agreement, furnish an abstract of tide or a Registered Property
Abstract certified to date to include proper searches covering bankruptcies, and State and Federal judgments and liens. The buyer shall be
20 all(3vZr d days after receipt thereof for examination of said title and the making of any objections thereto, said objections to be made in
writing or deemed to be waived. If any objections are so made the seller shall be allowed 120 days to make such title marketable. Pending
correction of title the payments hereunder required shall he postponed, but upon correction of title and within 10 days after written notice
to the buyer, the parties shall perform this agreement according to its terms.
If said tide is not marketable and is not made so within 120 days from the date of written objections thereto as above provided, this
agreement shall be null and void, at option of the buyer, and neither principal shall be liable for damages hereunder to the other principal.
All money theretofore paid by the buyer shall be refunded. If the tide to said property be found marketable or be so made within said time,
and said buyer shall default in any of the agreements and continue in default for a period of 10 days, then and in that case the seller may
terminate this contract and on such termination all the payments made upon this contract shall be retained by said seller and said agent, as
their respective interests may appear, as liquidated damages, time being of the essence hereof. This provision shall not deprive either parry of
the right of enforcing the specific performance of this contract provided such contract shall not be terminated as aforesaid, and provided action
to enforce such specific performance shall be commenced within six months after such right of action shall arise.
The delivery of all papers and monies shall be made at the office of:
HRA Executive Director
Chanhassen °'City ... Hall— ............
I, the undersigned, owner of the above land, do hereby approve
the above agreement and the sale thereby made.
By..._.._ ..................... ....._................_........ ............._..........__Agent
I hereby agree to purchase the said properry for the price and
upon the terms above mentioned, and subject to all conditions
herein expressed.
Chanhassen H.R.A. (SEAL)
......................................................... ...............................
.
................ `^”. >- ..'.1.'..1 tB..�............. '........................ (SEAL)
Buyer