4.11. SR 10-08-2001TO:
FROM:
DATE:
SUBJECT:
MEMORANDUM
Mayor and City Council
Pat Klaers, City Administrator
October 8, 2001
Consider Bailey Purchase Agreement
Item~ 4.11.
The City Council reviewed the proposed purchase of the Bailey property at its September 17,
2001, meeting. After discussing the issues, the City Council requested Planning Commission
review of this land acquisition for the future expansion of the library and/or parking lot. The
Bailey property is located south of the library parking lot.
The Planning Commission reviewed this proposed purchase at its September 25, 2001,
meeting. Please see the attached memo from the Director of Planning Michele McPherson
for the comment from the commission.
The proposal is for a life estate arrangement. The city will be paying the appraised price of
$144,000 at the closing. Funds are available for this acquisition in the Library Reserve. Please
see my attached September 17 memo for additional background. Also attached is the
purchase agreement.
Recommendation
It is recommended that the City Council authorize the execution of the purchase agreement
for the acquisition of the Bailey property.
River
13065 Orono Parkway
Elk River, MN 55330
TO:
FROt, t:
DATE:
SUBJECT:
MEMORANDUM
Pat Klaers, City Administrator
Michele McPherson,~l~irector of Planning
October 2, 2001
Planning Commission Review of Property Acquisition
As requested by the City Council, the Planning Commission reviewed the proposed
acquisition of the Bailey property for a future library expansion. The Commission found
unanimously that the acquisition is consistent with the City's Comprehensive Plan.
The Commission did, however, ask about future library facilities in the outlying areas of the
City and requested additional information regarding the overall library system.
Phone: 763.441.7420
Fax: 763.441.7425
S:\PLANNING\MICHMC\MEMOS\baileyprop.doc
www. ci.elk-river, mn.us
City ~
Kiver
TO:
FROM:
DATE:
SUBJECT:
MEMORANDUM
Mayor and Council
Pat Klaers, City Administrator
September 17, 200 I
Consider Bailey Purchase Agreement
This past winter the City Council reviewed an appraisal (byJerry Smith) for the Bailey
property. The City Council authorized and paid for this appraisal. The Bailey property is on
Quinn Avenue between 5~h Street and 4~h Street and is adjacent to the southwest part of the
library parking lot (see attached map). After revie~v of the appraisal, it was the consensus of
the City Council to pursue the purchase of the Bailey property. The purchase of this
property makes good planning sense for the future library expansion.
Last spring, the city and the attorney for Mrs. Bailey looked at a draft standard purchase
agreement. After discussion of the purchase agreement and evaluation of the situation it was
decided to consider a life estate arrangement. Staff feels that this is the best type of
arrangement for the city as we pay now for the property (at the appraised value) and the city
obtains the property when Mrs. Bailey moves out or is no longer living. With this
arrangement the city has no issues with leasing or rendng the property back to Mrs. Bailey,
dealing with maintenance of the property, insurance, taxes, etc. The city has no immediate
plans for expansion of the library or its parking lot and we can wait a number of years to
obtain control of this property.
The total amount of funds for this purchase is available in the library reserves. If this
transaction moves forward, the city will continue to look at the site configuration and will
have discussions with adjacent property owners as appropriate.
One final item to note, and this relates to the Planning Commission review of land
transactions. The City Council can waive Planning Commission (review by resolution
adopted by two-thirds vote) if the Council finds that the acquisition has no relation to the
comprehensive plan. If Council wants to dispense with the Planning Commission review, it
can adopt the attached resolution and subsequently approve the purchase agreement. I think
that the Council could make this finding, as the library is not specifically mentioned at all in
the comprehensive plan. Parks and Streets and Utilities are the only government facilities
that are reviewed in the Comprehensive Plan.
If the City Council wants the Planning Commission to review this proposed acquisition, then
staff should just receive Council input on the attached proposed purchase agreement, k~Te
will then have the Planning Commission comment on the acquisition at its September 25
meeting and the Council can then reconsider this purchase agreement at its October 8
meetirlg.
34-00 CITY CENTER
33 SOUTH SIXTH STREET
MINNEAPOLIS, MN 55402-3796
612 343-2800
FAX: 612 333-0066
WEB SITE: www. gpmlaw, com
CONSULTING OFFICE, BEltiNG CHINA
MEMORANDUM
TO:
FROM:
RE:
DATE:
COPY:
Elk River City Council
Charles D. Wilson
Purchase of 1217 5th Street
September 10, 2001
Peter Beck
Douglas J. Dehn (Counsel for Seller)
The proposed purchase of 1217 5th Street would allow the Seller (a trust)
to retain a life estate in the property.
A life estate means that the Seller retains ownership of the property for the
remainder of Ms. Bailey's life. Ms. Bailey is the resident of 1217 5th Street and
the beneficiary of the trust. The City would own a remainder interest.
Under the proposed transaction, the City could become the owner in two
ways. If Gloria Bailey were to die the title would pass automatically to the City.
Title would be perfected by filing a death certificate with the Sherburne County
Recorder. In addition, the deed contains a stipulation that Ms. Bailey must use
the property as a residence. If she does not the Seller must offer the life estate to
the City for $1.00. This provision would allow Ms. Bailey to end the life estate
early if she chose to move out of the residence. The City would receive a Quit
Claim Deed.
The life estate was chosen because the Seller would remain the owner of
the property. The Seller would continue to pay all taxes and be responsible to
insure, maintain and repair the property. The City would have no obligation until
title passed to the City under one of the two mechanisms described above.
GP:823724 vl
GRAY, PLANT, MOOTY, MOOTY & BENNETT, P.A. ,4TTORNEYS AT LAW
GERALD M. RANDALL
WILLIAM K. GOODRICH
DOUGLAS J. DEHN+
THOMAS M. FITZPATRICK
RANDALL, DEHN & GOODRICH
ATTORNEYS AT LAW
2140 FOURTH AVENUE NORTH
ANO KA, MINNESOTA 55303-2268
TELEPHONE (763) 421-5424
FACSIMILE {763) 421-4213
REAL PROPERTY LAW SPECIALIST
CERTIFIED BY MINNESOTA STATE
BAR ASSOCIATION
dehnd~rdglaw.com
August 13, 2001
Charles D. Wilson
Gray, Plant, Mooty, Mooty & Bennett, P.A.
3400 City Center
33 South Sixth Street
Minneapolis, MN 55402-3796
Re: City of Elk River/Gloria C. Bailey Trust Transaction
Dear Mr. Wilson:
I have now reviewed your proposed purchase agreement between the City of Elk River and John
Dietz and Gloria Bailey, Trustees of the Gloria C. Bailey Revocable Living Trust. They have
agreed to enter into the purchase agreement that the City has proposed. I have also reviewed the
intended closing documents, including the proposed Trustee's Deed, Certificate of Trust and
Affidavit of Trustees. Although the Certificate of Trust needs some information for completion,
the documents will be adequate for use at closing.
It is my understanding that the City must approve any final version that we negotiate. Does this
include the passage of an ordinance authorizing the purchase of the property? Regardless of the
specific steps that must be followed, you are now authorized to proceed with those steps and
arrange for a binding purchase agreement.
Will you arrange for the signing of the purchase agreement by the City and the delivery of the
earnest money? Should we place the earnest money into our trust account?
Should you have further questions or comments, please contact me.
Very truly yours,
Douglas J. Dehn
DJD/rk
CCi
John Dietz and Gloria Bailey
Form 1519A 1&2 (Rev. 9~97)
3. RECEIVED OF
4.
The City of Elk River a municipal corporation,
PURCHASE AGREEMENT
This form approved by the Minnesota Association of
REALTORS®, which disclaims any liability
arising out of use or misuse of this form.
1. Date August ,2001
2. Page 1 of Pages
5. the sum of One Thousand and 00/100 Dollars ($1,000.00)
6. by CHECK as earnest money to be deposited upon acceptance of Purchase Agreement by all parties, on or before the
7. third business day after acceptance, in a trust account of listing broker but to be returned to Buyer if Purchase Agreement is not accepted
8. by Seller. Said earnest money is part payment for the purchase of the property located at:
9. Street Address: 1217 5th Street
10.
11.
12.
City of Elk River , County of
Legally described as: Lot 101 Block 21 Thomas Addition (actual le.qal to govern)
Sherburne State of Minnesota,
13. including the following property, if any, owned by Seller and used and located on said property: garden bulbs,plants, shrubs and trees; storm
14. sash, storm doors, screens and awnings; window shades, blinds, traverse and curtain and drapery rods; attached lighting fixtures and bulbs;
15. plumbing fixtures, water heater, heating plants (with any burners, tanks, stokers and other equipment used in connection therewith),
16. built-in air conditioning equipment, electronic air filter, Water Softener/OWNED / RENTED / NONE, built-in humidifier and dehumidifier,
............. (strike out two) .................
17. liquid gas tank and controls (if the property of Seller), sump pump; attached television antenna, cable TV jacks and wiring; BUILT-INS:
18. dishwashers, garbage disposals, trash compactors, ovens, cook top stoves, microwave ovens, hood fans, intercom's; ATTACHED: carpeting;
19. mirrors; garage door openers and all controls; smoke detectors; fireplace screens, doors and heatilators; AND: the following personal
20. property: washer, dryer, stove, refrigerator
21.
22.
23. all of which property Seller has this day agreed to sell to Buyer for sum of: ($144,000.00)
One Hundred Forty-Four Thousand and 00/100
Dollars,
which Buyer agrees to pay in the following manner: Earnest money of $1,000.00
26 and $143,000.00 cash on Auflust 2001 the date of closing, and
27~. ~he~a!ance of by financing in accordaReew,AthAh6~attached addec~upm.'
2-~strike~uttheseAhat-de-net-apply)-Conventiena! FHA VA Assumption Centract for-Deed Purchase .Mcney-MertHaH~thcr:
29. This Purchase Agreement IS / IS NOT subject to a Contingency Addendum for sale of Buyer's property. (If answer is IS, see attached addendum.)
-- (strike out one) --
30. This Purchase Agreement I$ / IS NOT subject to cancellation of a previously written Purchase Agreement dated
-- (slrike out one) --
31. Buyer has been made aware of the availability of property inspections. Buyer elecAs / declines to have a property inspection performed at
...... (strike out one) ......
32. Buyer's expense.
33. This Purchase Agreement IS / IS NOT subject to an Inspection Addendum. (If answer is IS, see attached addendum.)
-- (strike out one) --
34. Attached are other addenda which are made a party of this Purchase Agreement. (Enter page or pages on line 2)
35. DEED/MARKETABLE TITLE: Upon performance by Buyer, Seller shall deliver a General Warranty Deed
36. joined in by spouse, if any, conveying marketable title, subject to: a life estate for the life of Gloria C. Bailey for use as a residence and option; and
37. (A) Building and zoning laws, ordinances, state and federal regulations; (B) Restrictions relating to use or improvement of the property without
38. effective forfeiture provisions; (C) Reservation of any mineral rights by the State of Minnesota; (D) Utility and drainage easements which do
39. not interfere with existing improvements; (E) Rights of tenants as follows (unless specified, not subject to tenancies): No tenants
40.
41. (F) Others (Must be specified in writing): see addendum regard nq life estate and option
42. SPECIAL ASSESSMENTS shall be paid as follows: Seller shall pay all special assessments levied through termination/sale of life estate, Buyer to pay
all others.
.~. BUMER~,AND SELLEt;~SHALL PRORATE AS OF THE ..... OFq;L-OSIN .... L~E.. _.HA__. AY~aNDATEqaF .... !NG ~,, instaltmeRts of spccial
(slrqke~ut one)
.... ' ~,~ f ..... ~,h '~' ~°~'~ ' .... ~ ..... ~ p~y~ble i~e year cf closing.
=4~as~ ....... ~ ...... payment ...... the .......................
45. B~E~HAL~ASSUME / SELLE~HAL~-~te of c!~ing 3!! other special 2sc~ments !cried as of the dat~g~eme~
= ~ ~ i ~ a ~ SHALL c Da =*~T · ~ .........
46. -~ .... HA.. ~S~M_ / SELLER PROVIDE, OR...~ .... OF specie1 cs~ssments pending cs ~¢ m~ a~ o~is Asrccmc~
(ctr~o)
47. improveme~hat have k ..... a~.~a ky m~ ~%, ¢ ..... a ~ .... ~ ..... tko.' '~ - ..............
............................ ~ ...... ~,,,u ....... ~l~-. (Se!~ provision f~ p~y~ fka" k~ by paymeRt
.............................................. ~ ........... , ......... ~F~R~Cr.x
4~BUYE~HALL-ASSUME / S~L~LL~AY .................... ~ a~ ~¢ ~g any deferred ret! esta~i.e. ~ ........ ~ ......... ~¢ ~ o~ial
(strd~c cut ~e)
~ ........... ~¢,,,~. of which is rcqui~-~s 2 ..... ' cf thc closing cf this -~ B~al! pcy rcc~st~axes du~R~aM~he yea~
51. fcll~n¢~i~g ~ ,k .... ¢, .... a a~paid ¢p~¢~ ......... ~ p~k~ m .... ~tk ~ m~aft~ th~ayment cf v~ is -~ cth~ise
52. provided. A~Ae ~*~ ~ ~h~ agreement, SeI~Rts *h~ c a~ ~ UA~nT "~*;~ ~ hearing ~ ~ ~e~i6
................. ~ ....... received 3 .............
,,~¢e ........... ¢ u ............. a~ ........ ~ authority, fha COSTS ~f t,,hifh project may b~sess~ against the property.
notre of pending s~2! ......... * is; ..... ~ after fh~ ~f~ ~f m;¢ Ag ...... ~ ~"~ ~" or before ~ .......... ~, assume
55. paymcnt~f-AbL ! NONE4OTHER: of any~, .... ....... h fp~;~. -~¢¢~-*¢,.~, ~,,~"a Seller shall
86. payment on date~ c!osin~LL I N~E / OTHER: of an~ch special 3sscssme~s. If
57. aes~sments eFe ............ ~
58. Seller and Buyer Initial: Seller(s) Date Buyer(s) Date
59. MN:PA-1 (8/96)
PURCHASE AGREEMENT
60, Page 2
61. then either party may agree in writing on or before the date of closing to assume, pay or provide for the payment of such
62. excess. In the absence of such agreement, either party may declare this Purchase Agreement null and void; the parties shall
63. immediately sign a cancellation of Purchase Agreement and all earnest money paid hereunder shall be refunded to Buyer.
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 (1) 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 (2) an abstract of title or a registered property abstract certified to date. Evidence of title shall
68. include proper searches covering bankruptcies, state and federal judgments and liens, and levied and pending Special
69. Assessments. Seller shall (1) pay the entire premium for such title insurance policy if no lender's policy is obtained,
70. and only the additional cost of obtaining a simultaneously issued owner's policy if a lender's policy is obtained
71. (Buyer shall pay the premium for the lender's policy); or (2) pay all costs of providing the abstract. If Seller provides a
72. commitment for an owner's policy of title insurance. Seller shall surrender any abstract in Seller's possession or
73. control to Buyer at 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 extension, 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
~ *. expenses and obtain all necessary governmental approvals. Seller warrants the legal description of the real property to be
conveyed has been or will be approved for recording as of the date of closing.
83. Seller warrants that 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 labor, materials, machinery, fixtures or
86. tools furnished within the 120 days immediately preceding the closing in connection with construction, alteration or repair of
87. any structure on or improvement to the property.
88. Seller warrants that Seller has not received any notice from any governmental 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 surveys or inspections agreed to herein.
92. RISK OF LOSS: If there is any loss or damage to the property between the date hereof and the date of closing, for any reason
'~3. including fire, vandalism, flood, earthquake or act of God, the risk of loss shall be on Seller. If the property is destroyed or
J4. substantially damaged before the closing date, this Purchase Agreement shall become null and void, at Buyer's option, and
95. earnest money shall be refunded to Buyer; Buyer and Seller shall immediately sign a cancellation of Purchase Agreement.
96. TIME OF ESSENCE: Time is of the essence in this Purchase Agreement.
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.
Form '1519A 3 (Rev. 9/97)
PURCHASE AGREEMENT
106. Address 1217 5thStreet
107. Page 3 Date Auqust 2001
1uS. REAL ESTATE TAXES shall be paid as follows: Seller shall pay all realestate taxes due through the termination/sale of life estate.
~,O~uyer shalI-pay~-PRORATED-TOC)AY OF4;LO~SING, !2THS, ALL, NONE rea! estate taxes due and payab!e Jn the-yea~-49
(strike two)
c~, h~u .... D , r~e _ !aTHS, ~' ' NONE ~' ~* .... duc and payable i~'e~r !~
~0 ..... ~ ..... .~, · RO~~A~___ING, ~ . .....................
(~)
111. I~l~[ng date is~,,-,,u~,~ .... ~ m~ ....... ma~tate taxes paid shall, ~ ~ated, be adjusted *-~ .,,~m ....... ,,~.. ~,~-~-g ......... a~,~ Seller wa~nts ta~s ~a"~ aad
~ ~ o pa~l~i~h~aM9~ '""' ~ FU~ PAR~ON ~ .... ,~ ~,~m~,~ ff part 0~ non ............ ~ ..... ~t .... ic chcck~
~43. SatYr a;reo$ to pay Buy~ closing $.
............................ ~ ......~ ~ ........... i~;~ b~l~RCC ~ ~ ~ .... ~ ~ .... whe~ the~ccme due
~4. tov.~ the non M .... *~ "~ ~*~*~ * .... Buyer ~ .... *~ ~ ~..~ ............ u ........................
115. an~pa~b~ No representations are made concerning the amount of subsequent real estate taxes.
116. POSSESSION: Seller shall deliver possession of the property not later than date life estate terminates
117. All interest, homeowner association dues, rents, fuel oil, liquid petroleum gas and all charges for city water, city sewer, electricity and
118. natural gas shall be paid by seller for duration of life estate. Seller agrees to remove ALL DEBRIS AND ALL PERSONAL PROPERTY
119. NOT iNCLUDED HEREIN from the property by possession date.
120. ENVIRONMENTAL CONCERNS: To the best of the Seller's knowledge there are no hazardous substances or underground storage
after closing.
121. tanks, except herein noted: None
122.
~23. SELLER WARRANTS THAT THE PROPERTY IS DIRECTLY CONNECTED TO: CITY SEWER X YES [] NO CITY WATER X YES [] NO
(check one) (check or, e)
124. SELLER/BUYER AGREES TO PROVIDE WATER QUALITY TEST RESULTS IF REQUIRED BY GOVERNING AUTHORITY AND/OR LENDER.
...... (strike one) ......
125. SELLER/B~IR AGREES TO PROVIDE, IF REQUIRED BY THE TERMS OF THIS PURCHASE AGREEMENT OR BY GOVERNING AUTHORITY
--=--- (strike one)
126. AND/OR LENDER, A LICENSED INSPECTOR'S SEPTIC SYSTEM INSPECTION REPORT OR NOTICE INDICATING IF THE SYSTEM COMPLIES
127. WITH APPLICABLE REGULATIONS. NOTICE: A VALID CERTIFICATE OF COMPLIANCE FOR THE SYSTEM MAY SATISFY THIS OBLIGATION.
128. NOTHING IN LINES 125 TO 129 SHALL OBLIGATE SELLER TO UPGRADE, REPAIR OR REPLACE THE SEPTIC SYSTEM UNLESS OTHERWISE
'~9. AGREED TO IN THIS PURCHASE AGREEMENT.
3. SELLER WARRANTS THAT CENTRAL AIR CONDITIONING, HEATING, PLUMBING AND WIRING SYSTEMS USED AND LOCATED ON SAID
131. PROPERTY WILL BE IN WORKING ORDER ON DATE OF CLOSING, EXCEPT AS NOTED IN THIS AGREEMENT,
132. BUYER HAS THE RIGHT TO A WALK-THROUGH REVIEW OF THE PROPERTY PRIOR TO CLOSING TO ESTABLISH THAT THE PROPERTY IS IN
133. SUBSTANTIALLY THE SAME CONDITION AS OF THE DATE OF PURCHASE AGREEMENT.
134. BUYER ACKNOWLEDGES THAT NO ORAL REPRESENTATIONS HAVE BEEN MADE REGARDING POSSIBLE PROBLEMS OF WATER
135. IN BASEMENT, OR DAMAGE CAUSED BY WATER OR ICE BUILD-UP ON ROOF OF THE PROPERTY AND BUYER RELIES SOLELY
136. IN THAT REGARD ON THE FOLLOWING STATEMENT BY SELLER:
137. SELLER HAS / HAS NOT HAD A WET BASEMENT, AND HAS / HAS NOT HAD ROOF, WALL OR CEILING DAMAGE CAUSED
...... (strike one) ............ (strike one)
138. BY WATER OR ICE BUILD-UP, BUYER HAS / HASNOT RECEIVED A SELLER'S PROPERTY DISCLOSURE STATEMENT.
...... (strike one) ......
139. BUYER HAS RECEIVED THE INSPECTION REPORTS, IF REQUIRED BY MUNICIPALITY.
140. BUYER HAS RECEIVED THE WELL DISCLOSURE STATEMENT OR A STATEMENT THAT NO WELL EXISTS ON THE PROPERTY.
141. AND A SEPTIC SYSTEM DISCLOSURE STATEMENT OR A STATEMENT THAT NO SEPTIC SYSTEM EXISTS ON OR SERVES THE
142. PROPERTY, AS REQUIRED BY MINNESOTA STATUTES
143. I ACKNOWLEDGE THAT I HAVE RECEIVED AND HAD THE OPPORTUNITY TO REVIEW THE ARBITRATION DISCLOSURE AND RESIDENTIAL
144. REAL PROPERTY ARBITRATION AGREEMENT.
145. SELLER(S) BUYER(S) '
146. SELLER(S) BUYER(S)
:147.
!48.
(Lib.*see)
449.
{Lme~see)
51.
4§2.
NOTICE
Is Se!!ar's Agent / Buyer's A§ont / Dual AgeP~L Non A§e~
(st~,ke throe)
(CompaR~
Is Seller's Agent / Buyer's Agent / D'Ja! Agen~NemAgent
(stcike4hcee)
(CcmpcRy)
THISNOTICE-DOES ,. OT~SA~ ...... INN~RY-AG ..... DISCLOSUREREQUIRE M E NT~
153. DUAL~AGENCY-q~E-PRESENTATI~
454. ~' '*~ AGENCY ................... ~)OE .....................................
(str~ke
~,~.~ ~e, ~ ........., ~ .........*~ ~ ~m~ ....................... ~,,~, ~,e~'~'~ _,,~-~ ,.~.,,~ ~-~ ~, ~ ...... /~ ~,~ m~.,,~ p.~p~,y, ........... ~ .... ~,,~a~ in m~, ...... ,~ ..... ................ ~;~ .... *~ ~ ~,~' '~ 2g~ncy. This
.................................. r .................................... ¢ .......... party .....................
159. (!) ¢~nf ~nf 81 ;nC .... fl ......... i¢~ f~ Br~ ..... k;¢k regards price, * .... or motivation *~ buy or ¢~" ,,,m remain confid~al
~ 61. (2) ~-~ .... ~ its salespersons wi!! Rot represent ,h~ ;~, .... * ~¢ either pa~y
!64.3ct 3~gents in this tra~cction.
'65.
Seller
~66.
Seller
-167.
Buyer
Date Date
Form 1519A 4 (Rev. 9/97)
PURCHASE AGREEMENT
168. Address
169, Page 4 Date
170. OTHER: The parties acknowle,qe that the property is not warranted as to condition and Buyer takes the property in an "as is" condition.
171.
172.
173.
174.
';~75 I, the owner of the property, accept this agreement and a'..'thorizc
176. the listing broker to ,;;ithdra,;,~said property from the marke~,
177 uRles$4R~,,cted ~r~, .... ;"~; ..... ;*;"- and I have reviewed all.
178 pages of this Purchase Agreement.
179. X
(Gloria C. Bailey. as Trustee)
(Date)
180 X
(Seller's Printed Name)
181. X
(Social Security Number - optional)
(Marital Status)
I agree to purchase the property for the price and in accordance
with the terms and conditions set forth above and I have reviewed
all pages of this Purchase Agreement.
X
(Buyer's Signature, as mayor)
(Date)
X
(Buyer's Printed Name)
X
(Social Security Number - optional)
(Marital Slatus)
182 X
(John J. Dietz as trustee)
(Date)
X
(Buyer's Signature)
(Date)
183 X
(Seller's Printed Name)
X
(Buyer's Printed Name)
184 X
(Social Security Number - optional)
(Marital Status)
X
(Social Security Number - optional)
(Marital Status)
185. FINAL ACCEPTANCE DATE
186
187. MN:PA-4 (9/97)
THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS.
IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
GP:811816 vl
Form No. 37-M TRUSTEE'S DEED Minnesota Uniform Conveyancing Blanks (1989)
~¥ Individual(s)
,qo delinquent taxes and transfer entered; Certificate of
Real Estate Value ( ) filed ( ) not required Cer-
tificate of Real Estate Value No.
County Auditor
Deputy
DEED TAX DUE HEREON: $
Date:
(reserved for recording data)
FOR VALUABLE CONSIDERATION, Gloria C. Bailey and John J. Dietz, as Trustee(s) of the Gloria C. Bailey
Revocable Living Trust, Grantor, hereby convey(s) toThe City of Elk River, a municipal corporation, Grantee, real
property in Sherbume County, Minnesota, described as follows:
Lot 10, Block 2, Thomas Addition, according to the map or plat thereof on file and of record in the office of
the Register of Deeds, Sherburne County Minnesota.
Reserving and exception therefrom, however, unto the Grantee, the full use, control, income, and
possession of said real property for and during the natural life of Gloria C. Bailey for use as a residence by her.
In the event that Gloria C. Bailey decides not to reside in said real property, or becomes unable to do so, the
Grantor shall offer the life estate to the Grantee for the consideration of One and 00/100 Dollar ($1.00)
(if more space is needed, continub on back)
together with all hereditaments and appurtenances belonging thereto.
TRUSTEE(S)
John J. Dietz
Affix Deed Tax Stamp Here
STATE OF MINNESOTA
Gloria C. Bailey
COUNTY OF
The foregoing instrument was acknowledged before me this day of August by John J. Dietz and
Gloria C. Bailey, as Trustees of the Gloria C. Bailey Revocable Living Trust Grantor(s).
NOTARY STAMP OR SEAL (OR OTHER TITLE OR RANK)
SIGNATURE OF PERSON TAKING ACKNOWLEDGMENT
Tax Statements for the real property described in this instrument
should be sent to (include name and address of Grantee):
THIS INSTRUMENT WAS DRAFTED BY (NAME AND ADDRESS):
Gray, Plant, Mooty, Mooty & Bennett, P.A.
3400 City Center, 33 South Sixth Street
Minneapolis, MN 55402
Attn:
GP:811465 vi