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HomeMy WebLinkAboutItem 12October 1, 2015 Item No. RESOLUTION AUTHORIZING THE PURCHASE OF REAL PROPERTY LOCATED AT 20157 ICENIC TRAIL October 5, 2015 City Council Meeting Proposed Action Staff recommends adoption of the following motion: Move to adopt a Resolution Approving Acquisition of Certain Real Property. Adoption of this resolution will result in the acquisition of the property located at 20157 Icenic Trail. Overview The City Council has approved a Joint Powers Agreement with Dakota County to complete early opportunity acquisitions of properties along Co. Rd. 50 / Kenwood Trail. The agreement calls for these acquisitions to be completed by the City with the County reimbursing the City with their 55% cost share. The small medical office building located 20157 Icenic Trail has been identified to be acquired for the Co. Rd. 50 Improvement Project. This property consists of a vacant 4,048 square foot medical office building located on a 22,651 square foot commercial lot. The appraised value of the property is $385,000. The owners, Dr. Joseph and Marilyn Emond have signed a purchase agreement for a purchase price of $420,000 with an October 30, 2015 closing date. The negotiated settlement amount was based the City's appraisal amount and the owners appraisal amount of $440,000. The agreement also proposes a back rent payment of $28,700. This property became vacant in January of this year just after the City had begun discussions with the owner's regarding a possible acquisition. The owner agreed to not rent the property again know that the City and County were planning to purchase the property. The City and County realized a significant savings in the total acquisition cost by not having to pay relocation costs in conjunction with this acquisition. The City and County are also required to reimburse the owners $3,500 for their appraisal. City and County staff recommend approval of this purchase agreement. Primary Issues to Consider • What is the proposed funding source for this acquisition? The project as identified in the adopted 2014-2018 Capital Improvement Plan and the City's portion of the acquisition is proposed to be financed from Municipal State Aid Street funds. Supporting Information • Resolution approving the purchase of property at 20157 Icenic Trail • Signed Purchase Agreement David L. Olson, Community and Economic Development Director c: Chris Petree, Public Works Director, Zach Johnson, City Engineer; Brian Sorenson, Asst. Co. Engineer Financial Impact: $ 452,200 Budgeted: Y/N Y Source: MSA and County Funds CITY OF LAKEVILLE DAKOTA COUNTY, MINNESOTA RESOLUTION 15 - RESOLUTION APPROVING THE ACQUISITION OF REAL PROPERTY AND DISPENSING WITH STATUTORY REQUIREMENTS FOR REVIEW BY PLANNING COMMISSION OF DISPOSAL OF PROPERTY WHEREAS, the City is proposing to acquire certain property ("Property") legally described as: Lot 1, Block 2, Viking Square, Dakota County, Minnesota; WHEREAS, Joseph S. Emond, Jr., MD and Marilyn F. Emond, and the City have negotiated terms for the acquisition of the Property as provide in the proposed purchase agreement attached hereto as Exhibit "A" ("Purchase Agreement"); WHEREAS, Minn. Stat. § 462.356, subd. 2 requires that the Planning Commission review the City's proposed acquisitions and dispositions of property, and; WHEREAS, Minn. Stat. § 462.356, subd. 2 provides for an exception from the Planning Commission review requirement upon 2/3 vote of the City Council dispensing with the requirement and finding that the acquisition or disposal of the property has no relationship to the comprehensive municipal plan. that: NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lakeville 1. The Purchase Agreement is hereby approved; 2. The acquisition of the Property under the Purchase Agreement has no relationship to the comprehensive municipal plan. 3. Review by the Planning Commission of the acquisition of the Property is hereby dispensed with, the proposed transaction is hereby approved, and the Mayor and City Clerk are authorized and directed to execute all documents, and take all appropriate measures to convey the Property under the terms of the Purchase Agreement. 183676v1 ADOPTED this day of , 2015, by a 2/3 vote of the City Council of the City of Lakeville. CITY OF LAKEVILLE BY: Matt Little, Mayor ATTEST: Charlene Friedges, City Clerk 1s3676vl EXHIBIT "A" ATTACH PURCHASE AGREEMENT 1s3676vl 0 110 220 440 Feet 1 inch = 112 feet N wE s /-2.81950.02.010 PURCHASE AGREEMENT THIS AGREEMENT made and entered in this day of 2015 by and between, JOSEPH SAMUEL EMOND, JR., M.D. and MARILYN FRANCES EMOND, husband and wife ("Sellers"), and the CITY OF LAKEVILLE, a Minnesota municipal corporation ("Purchaser"). 1. PROPERTY. Purchaser agrees to purchase and Sellers agree to sell the following property (the "Property"): (a) Real Property. Certain real property located in Dakota County, Minnesota at 20157 Icenic Trail, Lakeville, Minnesota, as legally described in attached Exhibit "A", including one existing building, together with all other existing improvements located thereon, all appurtenant rights, easements, mineral rights, and all right, title and interest of Sellers in and to all streets, alleys; strips, gores and rights-of-way over or abutting said land, and together with all improvements and fixtures located thereon, including without limitation, all water and sewer taps, all equipment used in connection with the operation thereof, such as elevators, security and alarm systems; and heating and air conditioning systems, except as otherwise provided under this ;Paragraph (all of the foregoing hereinafter collectively referred to as the "Real Property"). (b) Material Contracts. The Sellers' entire right and interest in and to all utility deposits, all supplier, vendor or other contracts relating to the Property, and not cancelable on sale or upon 30 days' notice and all licenses, permits and warranties now in effect with respect to the Property (the "Material Contracts"). PURCHASE PRICE AND MANNER OF PAYMENT. The total purchase price ("Purchase Price") to be paid by Purchaser to Sellers for the Property shall be Four Hundred Twenty Thousand and no/100 Dollars ($420,000.00). The purchase price shall be paid as follows: (a) Earnest money: NONE (b) Four Hundred Twenty Thousand and no/100 Dollars ($420,000.00) to be paid in cash on the date of closing. I . TITLE TO BE DELIVERED. Sellers shall deliver to Purchaser, or cause to be delivered to 'urchaser, at Closing, an executed Warranty Deed ("Deed") in recordable form conveying fee simple title to the Property subject to the terms of this Agreement and: (a) Reservations of minerals or mineral rights by the State of Minnesota; (b) Building, zoning and subdivision laws and regulations consistent with the current use of the Property; (c) The lien of real estate taxes and installments of special assessments which are payable by Purchaser pursuant to the terms of this Agreement; (d) Exceptions to title which constitute encumbrances, restrictions, or easements which have been disclosed to Purchaser and accepted by Purchaser in writing. (hereinafter "Permitted Encumbrances"). 4. CONTINGENCIES. The Agreement and closing hereunder shall be made contingent upon each of the following: (a) Purchaser being satisfied as to good and marketable title to the Property in Sellers pursuant to Paragraph 8 herein. (b) All warranties and representations of Sellers hereunder being true and correct as of the date hereof, and on the Date of Closing. (c) Purchaser determining, on or before the Date of Closing, that it is satisfied with the matters disclosed by soil testing and a physical inspection of the Property conducted by Purchaser and its agents. Purchaser and its agents shall have the right to enter into the Property for the purposes of making soil tests and such other physical inspection measurements and investigation as Purchaser deems necessary; provided, however, that Purchaser shall not interfere with the operation of the Property and, provided further, that Purchaser shall indemnify and hold Sellers and the Property harmless from all liabilities arising from entry upon or testing of the Property, including but not limited to liabilities arising from mechanic's, materialmen's or other liens filed against the Property connection with work performed or material furnished by or at the direction of Purchaser. (d) Purchaser determining, on or before the Date of Closing, that it is satisfied with the matters disclosed by its review of any reports obtained by Purchaser from third parties in connection with investigation of the Property for the presence of hazardous or toxic waste. (e) The representations of Sellers contained in this Agreement must be true now and as of the Closing Date, as if made on the Closing Date and Sellers shall have delivered to Purchaser on the Closing Date, a certificate, signed by Sellers, certifying that such representations are true as of the Closing Date (the "Bring -down Certificate"), except to the extent that the representations are no longer true and acceptable to Purchaser. (f) Title to the Property shall be held by Sellers on the Closing Date, and shall be free and clear of all encumbrances except the Permitted Encumbrances. (g) Sellers shall perform all of the obligations required to be performed under this 2 Agreement, as and when required by this Agreement, except as waived by Purchaser. (h) Purchaser having determined that it is satisfied with its review and analysis of all documents required to be provided by Sellers under Paragraph 6 (refer to new paragraph to be added below). If all the foregoing contingencies have not been satisfied or waived by Purchaser on or before the Date of Closing or such other date as is expressly set forth above, then this Agreement may be terminated at Purchaser's option, and upon written notice of termination, any Earnest Money deposited by Purchaser, together with interest earned thereon, shall be returned to Purchaser, and upon such return neither party shall have any further rights or obligations with respect to this Agreement or the Property. If notice of termination of the Agreement for failure to satisfy any contingency set forth above is not given by Purchaser on or before the Date of Closing, such contingency shall be deemed waived by Purchaser. Purchaser shall have the right to unilaterally waive any contingency and proceed to close. Each party shall cooperate with the other in satisfying the conditions hereof. 5. EVIDENCE OF TITLE. (a) Within fifteen (15) days following the date of execution of this Purchase Agreement, Purchaser shall obtain a commitment for an ALTA Owner's Form title insurance policy (the "Commitment") issued by Dakota County Abstract (the "Title Company"), pursuant to which the Title Company agrees to issue to the Purchaser upon the recording of the documents of conveyance referred to herein an Owner's title insurance policy insuring the Property in an amount equal to the Purchase Price. Purchaser shall pay all costs associated with the issuance of such Commitment. The Commitment shall include proper searches covering bankruptcies, state and federal judgments and liens and levied and pending special assessments, which Commitment: (1) Insures that Purchaser has marketable title of record to the Property, free and clear of all liens, encumbrances, leases, except Building Leases, claims and charges, all material easements, rights-of-way, covenants, conditions and restrictions and any other matters affecting title, except for Permitted Encumbrances and such matters as are approved by Purchaser in writing. (2) Waives or agrees to insure over the following standard exceptions: (A) Rights and claims of parties in possession; and (B) Mechanic's, contractor's and material liens and lien claims. (b) Purchaser shall have fifteen (15) days after receipt of the Commitment to deliver to Sellers written objections to title based on marketability of the Property ("Objections") and Sellers shall have sixty (60) days to have such Objections 3 removed or satisfied, during which period the Closing Date shall be postponed, if necessary. If Sellers fail or are unable to have such Objections removed within said time, Purchaser may, at its sole election, do any of the following: (1) Termination. Terminate this Agreement without any liability on its part in exchange for a quit claim deed for the Property. (2) Escrow for Cure. If the parties agree to an escrow, Sellers shall escrow an amount sufficient to assure cure of the Objection(s). Any amount so escrowed will be placed in an escrow with title pending such cure. If such escrow is established, the parties agree to execute and deliver such documents as may be reasonably required by the Title Company, and Sellers agree to pay the charges of the Title Company to create and administer the escrow. (3) Purchaser Cure. To the extent an Objection can be satisfied by the payment of money, Purchaser shall have the right to pay the amount necessary to satisfy such Objection and the amount so applied shall be reimbursed to Purchaser by Sellers at the Closing, provided, that the amount due to the third -party claimant is an undisputed liquidated amount for which Sellers' liability is undisputed. Notwithstanding the limitation, waiver, and relinquishment of remedies in under this Agreement, if Purchaser funds such a cure of monetary objection, and is not reimbursed at Closing by Sellers, Purchaser shall have a right of action to recover from Sellers an amount equal to the dollar amount of Sellers' undisputed and liquidated liability. (4) Waiver. Waive such objections and take title to the Property subject to such objections. 6. REVIEW OF DOCUMENTS AND ASSUMPTION OF CONTRACTS. (a) Within fifteen (15) days of the execution of this Agreement, Sellers agree to provide Purchaser with each of the following enumerated items to the extent these items are in Sellers' possession and all of the same must be acceptable to Purchaser, in the exercise of its sole discretion. If any such documentation or information shows a material adverse change not acceptable to Purchaser, in Purchaser's sole discretion, Purchaser may terminate this Agreement within the times herein provided. The items are as follows: (1) Copies of all architectural, engineering and construction plans, blueprints, specifications and the like for the buildings and of all site plans, topographical drawings, utility plans and the like related to the Property. (2) Copies of all supplier or vendor contracts relating to the Property and not cancelable on sale or upon thirty (30) days' notice. M (3) Copies of any warranties in connection with the Property which shall be assigned to Purchaser at Closing to the extent assignable. (4) Information concerning the history of operating income and expenses for the past three (3) years. (5) Certified current rent roll. (6) Copies of all written Building Leases, including a written summary of any and all oral leases. (7) Copy of any existing surveys of the Property. (8) Copies of existing environmental reports and copies of all reports, assessments and information filed by Sellers or Sellers' predecessor in interest with the MPCA or any other regulatory body. (9) Copies of all Material Contracts and related files. (10) Copies of any outstanding bids or estimates for repairs and/or capital improvements. (11) Copy of all soil tests taken on the Property which are available to Sellers. Sellers' obligation to provide the foregoing documentation shall continue for any such documentation that Sellers receive following execution of this Agreement and prior to Closing. Purchaser agrees to return all of said copies, records and information to Sellers in the event that the Closing contemplated by this Agreement does not occur or if this Agreement is terminated for any reason. (b) Assumption of Contracts. Purchaser shall designate in writing, on or before the Closing, the executory contracts and unexpired leases to be assumed and assigned to Purchaser as the Assumed Contracts. Such designation is subject to Purchaser's right, by written notice to Sellers from time to time to exclude from or add to the list of previously designated Assumed Contracts. Sellers shall take all necessary steps to assume and assign to Purchaser all designated Assumed Contracts. Sellers shall cure any and all defaults and breaches and satisfy any liability or obligation arising from or relating to pre -Closing periods under the Assumed Contracts, except as expressly assumed by Purchaser under this Agreement. 7. REPRESENTATIONS AND WARRANTIES BY SELLER. Sellers represent and warrant to Purchaser that: (a) The individuals executing this Agreement and the documents referred to herein on behalf of Sellers have the legal power, right and actual authority to bind Sellers to 5 the terms and conditions hereof and thereof. This Agreement and all documents required hereby to be executed by Sellers are, and shall be, valid, legally binding obligations of and enforceable against Sellers in accordance with their terms. (b) On the Date of Closing, Sellers will own all of the properties and assets being conveyed hereby, free and clear of all leases, liens, charges and encumbrances. (c) Sellers have received no notice of any action, litigation, investigation or proceeding of any kind pending against Sellers, nor to the best of Sellers' knowledge is any action, litigation, investigation, or proceeding pending or threatened against the Property, or any part thereof. (d) Sellers will cause, to the extent applicable, all policies of insurance covering the Property with respect to fire and extended coverage risks, and liability to be kept in fall force and effect through and including the Date of Possession. (e) To Sellers' knowledge and without independent investigation, (i) no toxic materials, hazardous wastes or hazardous substances, as such terms are defined in the Resource Conservation and Recovery Act of 1996, as amended (42 U.S.C. §6901, et se .) or in the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended (42 U.S.C. §9601, et sec.), including, without limitation, any asbestos or asbestos-related products or materials and any oils, petroleum -derived compounds or pesticides ("Hazardous Materials") have been generated, treated, stored, released or disposed of or otherwise placed, deposited in or located on the Property; and (ii) the Property is free of Hazardous Materials and is not subject to any "superfund" type liens or claims by governmental regulatory agencies or third parties arising from the release or threatened release of hazardous substances in, on, or about the Property. (f) Sellers have not entered into any other contracts for the sale of the Property, nor as of the Date of Closing will there be any first rights of refusal or options to purchase the Property. (g) Sellers have not entered into any commitments or agreements with any governmental agency or public or private utility affecting the Property which have not been disclosed in writing by Sellers to Purchaser. (h) There are no tenants on the Property, and there are no parties in possession or with right to possession of the Property; (i) Sellers will not construct or enter into any agreement or commitment to construct any improvement or alteration to the Property. (j) Sellers will not enter into or consent to any easement, covenant or other obligation affecting the Property or alteration to the Property. I (k) To the best of Sellers' knowledge, after due inquiry, Sellers are not in default with respect to any of its obligations or liabilities pertaining to the Property. (1) To the best of Sellers' knowledge, methamphetamine production has not occurred on the property. (m) To the best of Sellers' knowledge, there are no underground storage tanks or wells on the Property, it being understood that the representation as to wells shall be recited in the Deed to be delivered by Sellers at Closing. (n) On the Date of Closing there will be no outstanding contracts made by Sellers for any improvements to the Property which have not been fully paid for or for which Sellers shall not have made arrangements to pay off, at Closing, or that will affect the Property or be binding upon Purchaser or upon the Property subsequent to Closing without Purchaser's written consent; and Sellers shall cause to be discharged all mechanic's or materialmen's liens arising from any. labor or materials furnished to the Property that were made at the request of Sellers, their agents, or contractors, prior to the Date of Closing and any mortgages or other such similar encumbrances. (o) Until the Date of Closing, except as otherwise provided in this Agreement, Sellers shall maintain the land associated with the Property in its present condition, reasonable wear and tear and damage by casualty excepted. (q) Solely for purposes of satisfying the requirements of Minn. Stat. § 115.55, Sellers certify that, to Sellers' knowledge, there is no "individual sewage treatment system'' (within the meaning of that statute) on or serving the Property. Sellers certify that sewage generated on the Property goes to a facility permitted by the Minnesota Pollution Control Agency. Notwithstanding any provisions herein to the contrary, if a closing occurs hereunder, Sellers shall indemnify Purchaser, its successors and assigns, against, and shall hold Purchaser, its successors and assigns, harmless from, any loss, costs, expense or damage, including reasonable attorneys' fees directly arising out of or resulting from the breach of any of the representations and warranties herein contained, whether such loss, cost, expense or damage arises prior to or after closing, provided that Purchaser did not have knowledge of said breach on or before the Date of Closing. All warranties and representation herein contained shall survive a closing. 8. CLOSING. The date on which the closing of the transaction herein described shall occur (herein referred to as the "Date of Closing") shall be on or before October 30, 2015. The closing and delivery of all such documents shall take place at the office of the Title Company or at such reasonable location as may be agreed upon by Purchaser and Sellers. 9. POSSESSION. Sellers shall deliver possession of the Property to Purchaser on the Date of Closing. 7 10. COSTS AND PRORATIONS. Sellers and Purchaser agree to the following prorations and allocation of costs in connection with this Agreement and the transactions contemplated hereby: (a) Purchaser shall pay the costs of certification and delivery of a title insurance policy contemplated hereunder. (b) Purchaser shall pay all state or local transfer or deed taxes in connection with the Deed to be delivered hereunder, if any. Purchaser shall pay for the cost of drafting documents and closing fees. Purchaser shall pay for the recording charges in connection with recording the documents to be delivered herein. (c) Sellers shall be responsible for payment of the real estate taxes due and payable in the year of the sale prorated to the date of closing. Sellers shall pay all real estate taxes due and payable for the years prior to date of closing, together with all special assessments levied against the property. Also, Sellers shall pay any and all deferred taxes and/or special assessments levied or pending against the property. (d) Each of the parties shall pay all of its own respective attorneys' fees and Real Estate Brokerage fees in connection with the negotiation, preparation and closing of this Agreement and the transaction contemplated hereby. (e) Utilities. Final readings on all gas, water and electric meters shall be made as of the Closing Date, or as soon thereafter as is possible. Sellers shall be responsible for all charges for consumption of utilities through the Closing Date. (f) Operating Costs. Other operating costs shall be prorated between the Sellers and Purchaser as of the Closing Date, with Sellers paying all such items applicable to the period through the Closing Date. If, and to the extent, any cost or fee shall be payable by Sellers under this Agreement, Purchaser shall have the right to pay such amount for the account of Sellers and deduct the amount thereof from the cash due Sellers at the Date of Closing. If the amount of Sellers' obligation cannot be determined on the Date of Closing, Purchaser shall have the right to establish an escrow account (and offset from the cash payment) 150% of the maximum foreseeable liability. 11. CLOSING DOCUMENTS. At the Closing, Sellers shall execute and deliver to Purchaser the following (collectively the "Closing Documents"): (a) Deed. The Deed to the Property conveying to Purchaser marketable fee simple title to the Property subject only to the Permitted encumbrances. (b) Sellers' Affidavit. A standard form affidavit by Sellers indicating that on the date of Closing there are no outstanding, unsatisfied judgments, tax liens or bankruptcies against or involving Sellers or the Property; that there has been no skill, labor or material furnished to the Property (other than at the request of Purchaser) for which payment has not been made or for which mechanics' liens could be filed; and that there are no other unrecorded interests in the Property. (c) Storage Tanks. If required an affidavit with respect to storage tanks pursuant to Minnesota Statutes Section 116.48. (d) Well Disclosure. Sellers agree to complete a Sellers' Well Disclosure on Date of Closing. Purchasers may conduct any water quality tests it desires at its own expense. (e) Sewage Treatment System. There is no individual sewage treatment system on or serving the Real Property. Municipal sanitary sewer is available to the Real Property. (f) Certification. A certification that the representations and/or warranties made by the Sellers are the same as were in existence on the date of the Purchase Agreement. (g) Keys. Keys to all locks on the Property. (h) Material Contracts. All original versions of material contracts and warranties in Sellers' possession. (i) Assignment and Assum tp ion. An assignment and assumption of the assumed contracts, permits, and warranties. (j} Other Documents. All other documents reasonable determined by either party and the title insurance company to be necessary to transfer and provide title for the property. 12. ASSIGNMENT. Purchaser shall have the right to assign its interest under this Agreement, without first obtaining the consent of Sellers, provided that Purchaser shall remain liable to Sellers under this Agreement. 13. SURVIVAL. All of the terms, covenants, conditions, representations, warranties and agreements contained in this Agreement shall survive and continue in force and effect and shall be enforceable after the closing. 14. NOTICES. Any notice or election required or permitted to be given or served by any party hereto upon any other shall be deemed given or served if personally delivered to an officer of the party to be notified or if mailed by US registered or certified mail, postage prepaid, return receipt requested, or sent by reputable overnight courier, to the property address as follows: If to Sellers: Joseph Samuel Emond, Jr., MD Marilyn Frances Emond 19730 Meadowlark Way Farmington, MN 55024 9 and: Glenn Nord 20686 Holyoke Avenue P. O. Box 427 Lakeville, MN 55044 If to Purchaser: David Olson, Community & Economic Development Director City of Lakeville 20195 Holyoke Avenue Lakeville MN 55044-8339 and: Andrea McDowell Poehler Campbell Knutson, P.A. Grand Oak Office Center 860 Blue Gentian Rd. Suite #290 Eagan MN 55121 Except as otherwise expressly provided herein, each such notice shall be deemed to have been received by, or served upon, the party to whom addressed on the date which is three (3) days after the date upon which the same is deposited in the US registered or certified mail, postage prepaid, return receipt requested, properly addressed in the manner above provided, and if served personally or sent by reputable overnight courier, on the date of service or delivery. Any party hereto may change its address for the service of notice hereunder, in the manner above specified, ten (10) days prior to the effective date of such change. 15. EFFECTIVE DATE OF AGREEMENT. This Agreement shall become effective and shall be binding upon the parties hereto only after it has been executed by each of the parties hereto. 16. CAPTIONS. The paragraph headings or captions appearing in this Agreement are or convenience only, are not a part of this Agreement, and are not to be considered in interpreting this Agreement. 17. ENTIRE AGREEMENT; MODIFICATION. This written Agreement constitutes the entire and complete agreement between the parties hereto and supersedes any prior oral or written agreements between the parties hereto with respect to the Property. It is expressly agreed that there are no verbal understandings or agreement which in any way change the terms, covenants or conditions herein set forth, and that no modification of this Agreement and no waiver of any of its terms and conditions shall be effective unless in writing and duly executed by the parties hereto. 18. BINDING EFFECT. All covenants, agreements, warranties and provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. When used herein, the singular shall include the plural, the plural shall 10 include the singular, and the use of one gender shall include all other genders, as and when the context so requires. 19. CONTROLLING LAW. This Agreement has been made and entered into under the laws of the State of Minnesota and said laws shall control the interpretation enforcement hereof. 20. REMEDIES. If either party shall default in its obligations hereunder, the sole remedies available to either party, except with respect to defaults under Paragraph 5 herein for which damages shall be recoverable as provided therein, shall be (i) to terminate this Agreement by written notice to the other party, in which event neither party shall have any further rights or obligations hereunder or (ii) to seek performance of this Agreement. 21. - COUNTERPARTS. This Agreement may be signed in one or more counterparts, all of which taken together shall be deemed one original. 22. SEVERABILITY. If any provision in this Agreement, or any application thereof, shall be invalid or unenforceable, the remainder of this Agreement and any other application of such provision shall not be affected thereby and shall not be rendered invalid or unenforceable. 23. ACCEPTANCE. Sellers understands and agrees that this Purchase Agreement is subject to acceptance by Purchaser in writing. 24. ADDITIONAL COMPENSATION. The Buyer agrees to pay to the Seller at closing, Thirty-two Thousand, Two Hundred and no/100 Dollars ($32,200.00) in additional compensation not included in the purchase price per the following: Lost rent on Subject Property $28,700.00 Appraisal fee reimbursement $ 3.500:00 Total of $32,200.00 Joseph Samuel Emond, Jr., M.D. and Marilyn Frances Emond, have signed this Purchase Agreement to sell the Property for the price and terms and conditions set forth in this Agreement. SELLERS: Dated: 4,� 4r1'2a')1-C MA -D ep Samuel Emond, Jr., MD Dated BY Marilyn Franc Emond 11 On behalf of the City of Lakeville, and pursuant to authority granted to Matt Little and Charlene Friedges, we have signed this Purchase Agreement to purchase the Property for the price and on the terms and conditions set forth in this Agreement: PURCHASER: CITY OF LAKEVILLE Dated: :_ Matt Little, Mayor Dated: BY: Charlene Friedges, City Clerk 12 EXIHBIT A Lot 1, Block 2, Viking Square, Dakota County, Minnesota, according to the recorded plat thereof. 1-1 13