HomeMy WebLinkAboutItem 06.oDate: June 6, 2016
Item No.
ADDENDUM TO PURCHASE AGREEMENT WITH MOSES FAMILY LIMITED
PARTNERSHIP FOR FUTURE WELL SITE
Proposed Action
Staff recommends adoption of the following motion: Move to approve an addendum to purchase
agreement with Moses Family Limited Partnership for the purchase of land for a future water
supply well.
Overview
The City Council approved a purchase agreement with the Moses Family Limited Partnership for
the purchase of land at the southeast corner of County State Aid Highway (CSAH) 9 (Dodd
Boulevard) and Highview Avenue at the May 16, 2016 Council meeting. During the preparation
and final review of the closing documents, the Moses Family Limited Partnership requested the
purchase agreement include a quitclaim deed instead of a warranty deed. A warranty deed
provides covenants and responsibilities of a seller and the Moses Family Limited Partnership
preferred a quitclaim deed given the long-standing public easements for County highway
purposes on the parcels. The City Attorney reviewed the title to the real property and
recommends approval. There is no change to the legal description of the land or purchase price.
Primary Issues to Consider
• The public purpose of the land acquisition is for the future construction and maintenance
of a water supply well. The approved 2016-2020 Capital Improvement Plan programs
construction in 2016, with the goal of substantial completion by spring, 2017.
Supporting Information
• Addendum to Purchase Agreement
Financial Impact $10,000 Budgeted: Y® NO Source: Water Trunk Fund
Related Documents: (CIP, ERP, etc.):
Envision Lakeville Community Values: Good Value for Public Services
Report Completed by: Zach Johnson, City Engineer
ADDENDUM TO COMMERCIAL
PURCHASE AGREEMENT
This form approved by the Minnesota Association of REALTORS*,
which disclaims any liability arising out of use or misuse of this form.
62015 Minnesota Association of REALTORS*, Edina, MN
1. Date 05/25/2016
2. Page 10
3. Addendum to Purchase Agreement between parties, dated April 26th , 2016
4. pertalning to the purchase and sale of the Property at unaddressed Dodd Boulevard, Lakeville ter
5.
6.
7. In the event of a conflict between this Addendum and any other provision of the Purchase Agreement, the language
8. In this Addendum shall govern.
9 Line 30: Date of Closing to be changed from May 26th, 2016 to Juste
16th, 2016
10.
11 Lines 86-87: Seller will deliver a Quit Claim Deed to Buyer NOT a
Warranty Deed.
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20. SELLER
21. v v w
22. y; Moss Family Limited Partnership_
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24. L -31 fid/(
(Date)
25. SELLER
26.
27. By: Moses Family Limited Partnership __
28. Its:
(rue)
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30.
31.
BUYER
By: Matt Little
Its: Mayor for the City of Lakeville
Mile)
(Date)
BUYER
By: Marlene Fridges
Its: Clerk for the City of Lakeville
(nue)
(Date) (Rate)
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 (8H5)
InstanetfoRms