RES 21-56u
ver
Resolution 21-56
A Resolution Approving a Conveyance of Certain Property to Egan
Properties LLC
WHEREAS, by Resolution No. 21-47, the City Council approved a Commercial Purchase
Agreement ("Purchase Agreement") with First Step Preschool & Childcare LLC, for the property
located at 413 Proctor Avenue NW in the City of Elk River ("Property"); and
WHEREAS, the parties desire to amend the Purchase Agreement to change the buyer under the
Purchase Agreement to Egan Properties LLC pursuant to the Addendum attached hereto as Exhibit
A ("Addendum") as it is the new buyer's intention to lease the Property to the original buyer under
the Purchase Agreement.
NOW, THEREFORE, BE IT RESOLVE® by the City Council of the City of Elk River,
Minnesota, as follows: The Addendum is hereby approved, and the City Administrator, Mayor and
City Clerk are hereby authorized to execute and deliver all necessary documents required under the
terms of the Purchase Agreement, together with its Addendums.
Passed and adopted this 23' day of August 2021.
ATTEST:
Tina Alla.r , City Clerk
joy J. Oietz, M or
215796v1
EXHIBIT A
I_1biO4 ofolI]Ml
215796v1
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ADDENDUM TO COMMERCIAL
PURCHASE AGREEMENT
This form approved by the Minnesota Association of REALTORS'e,
which disclaims any Dabtllty arising out of use or misuse of this form.
0 2020 Minnesota Association of REALTORSe, Edina, MN
1. Date' August 18th,, 2021
2. Page 1
Addendum to Purchase Agreement between parties, dated February end 2021
(Date of this Purchase Agreement), pertaining to the purchase and sale of the Property at
413 Proctor Avenue NN Elk River, MN 55330
In the event of a conflict between this Addendum and any other provision of the Purchase Agreement, the language
in this Addendum shall govern.
This Addendum is:
1. Change t�a Buying entity to Egan Properties LLC
2. Extend the closing date to August 31, 2022 or earlier.
19.
SELLER
20.City
of Elk River
ees I ual t
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BY: J�
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Its:
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d
(Darts)
24. SELLER
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City of Elk River
(9uelness Entity or Individual )
By:-
(sene� i
its: ` r
foe)
BUYER
Egan Properties LLC
(Business RAfty or Individual Name)
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lawamtMopmew
Its:
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Miami
BUYER
By:
Entity or Individual Name)
Its:.
(Waal
Mato Pole) - THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S).
IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
MN-ACPA (8/20)
TRANSACTIONS
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