HomeMy WebLinkAbout5.a. Sunrise Builders PropertyCITY OF ROSEMOUNT
EXECUTIVE SUMMARY FOR ACTION
CITY COUNCIL MEETING DATE: DECEMBER 17, 1991
AGENDA ITEM: SUNRISE BUILDERS PROPERTY
AGENDA SECTION:
OLD BUSINESS
PREPARED BY: STEPHAN JILK, CITY ADMINISTRATOR
AGENDA ffEM # 5A
ATTACHMENTS: PURCHASE AGREEMENTS,
RENTAL AGREEMENT
MAPPVE�BY:
At your direction staff has prepared the attached documents for your
consideration and approval regarding the purchase of the Sunrise Builders
property.
1. Contract for Deed with Mike McDonough in the amount of $316,000 with a
$50,000 down payment and a three payment schedule o the remaining
$66,000 at a simple rate of interest set at 8%.
2. A loan agreement by which the City will make payments on a first
mortgage with the First State Bank of Rosemount in the amount of
$200,000 principal with payments due monthly at a rate of 9.5% for a
five year payoff schedule.
3. A rental agreement to provide the payment of $750 per month by Mr.
McDonough for the continued use of the property for up to three years.
RECOMMENDED ACTION:
MOTION to approve the purchase agreements with Mike McDonough and the
First State Bank of Rosemount for the purchase of the Sunrise Builders
Property and the rental of the property to Mike McDonough at a rate
of $750 per month for up to three years.
COUNCIL ACTION:
SEC -13-1991 09:24 FROM HERTOGE LFII) TO 4235203 P.02
LEASE AGREEMEN1
THIS AGREEMENT is made as of the __ day of
1992, by and
between THE CITY OF ROSEMOUNT, A MINNESOTA MUNICIPAL CORPORATION, hereinafter
referred to as ntessor and SUNRISE BUILDERS, INC., A MINNESOTA CORPORATION,
hereinafter referred to as "Lessee
1. LEASED PRE T►�' SES. Lessor in consideration of the rents and covenants
hereinafter described, does hereby tease and demise to Lessee the following
described real property, improvements, and use of any common areas in the
building located in the County of Dakota and State of Minnesota, hereinafter
referred to as ,the Leased Premises".
See Exhibit A attached hereto.
2. PURPt7SE. Lessee shall use the Leased Premises for the purpose of
operating a building supply store or fur any other lawful purpose. LessCC shall
permit no hazardous substances as defined in Minn. Stat. §1158.01, et,se . upon
the property.
3. TERM, The term of this Lease shall be three (3) years, and shall
run from January 31, 1992, to January 30, 1995, unless terminated sooner as
provided in this Lease Agreement.
4. RENT. Lessee shall pay to LeSsur as rent for the Leased Premises
monthly payments of $750.00 in advance, on or before the first day of every
month during the term of this Lease. The first monthly installment shall be due
Lessor on January 31, 1992. Payult:11L�; ball ulc 111ai1=J uz' dalivtred to Le33ar at
2875 145th Street West, Rosemount, MN. 55068, or at such other place as Lessor
may designate in writing.
1
5. RETU(N- OF POSSESSION. Lessee, upon expiration of the term of this
Lease shall quit and deliver up the Leased Premises to Lessor peaceably and
►
quietly, in as good order and condition as when Lessee took possession of said
premises, reasonable wear and tear excepted.
6. FEES. Lessee shall be responsible for the payment of all real
property taxes assessed against the Leased Premises and for the payment of any
and all special assessments levied against the premises by state or local
government, Any property tax or assessment statements received by Lessor shall
be promptly delivered to Lessee.
7. UTILITIES. Lessee shall pay all charges for gas, electricity, light,
heat, air conditioning, power, water, and all other utilities upon the Leased
Premises, and shall be responsible for all telephone installation and service
charges, and the expense of trash and garbage removal, if any.
8. INSURANCE. Lessee shall maintain and be solely responsible for the
cost of fire and extended coverage insurance on the Leased Premises in the amount
of the full insurable value of the Leased Premises. Lessee shall maintain and
be solely responsible for the cost of comprehensive general liability insurance
on the leased premises naming Lessor as an additional insured thereunder. Said
liability coverage shall protect Lessor from liability with respect to accidents
occurring on or about the Leased Premises, in at least the amount of $200,000
far injury or debt to any one person and $600,000 for injuries or debts arising
out of one accident. Lessee shall be responsible for obtaining and paying the
cost of insurance on its own equipment and property within the Leased Premises.
g. MAINTENANCE AND REPAIRS. Lessee shall Keep the Leased Premises,
including fixtures and furnishings, and the .yard and grounds, in clean and
orderly condition, and shall cause or permit no damage or waste to said premises.
2
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.DEC-13-1991 09:25 FROM HERTOGS LAW TO 4235203 P'04
10. LIABILITY. Lessor shall not be liable for injury or damage to the
person or property of Lessee occurring within the Leased Premises.
11. INDEMNITY. Lessee shall indemnify and hold harmless Lessor from
and against any claim, liability, expense, or loss arising out of the injury to
any person or damage to any property occurring on the Leased Premises or public
areas adjacent thereto, including mechanic's liens against the Leased Premises.
12. DESTRUC1I.0 Should the Leased Premises, without any fault on the
part of Lessee or Lessee's agents, be destroyed or so injured by the elements
or any cause as to be untenantable and unfit for occupancy, this Lease shall
expire and Lessee's obligation to pay rent abate. Upon expiration, all
obligations and rights of both Lessor and Lessee hereunder shall cease, with
rent apportioned to date of expiration.
13. RIGHT OF ENTRY. Lessor shall have the right to enter the Leased
Premises for the purpose of performing Lessor's obligations hereunder, for the
.purpose of avoiding damage or injury in circumstances of emprgancy or other
necessity, for the purpose of inspection of the Leased Premises upon reasonable
belief such inspection is necessary to avoid damage or waste by Lessee, and for
the purpose of preparing, exhibiting, and showing the Leased Premises for sale,
lease, financing, or appraisal. Following notice by either party hereto that a
lease term will be terminated, Lessor shall have the right to post the usual
notices "For Rent" or "For Sale", and shall be allowed, at reasonable times, to
bring prospective tenants or purchasers within the Leased premises for purposes
of showing the property.
14. ABANDONMENT. If at any time during the term of this Lease, the Leased
Premises are abandoned by Lessee, Lessor may, at Lessor's option, enter the
Leased Premises and relet the premises as agent for Lessee for any portion of
3
ITEC -13-1991 09:26 FROM HERTOGS LAW TO 4235203 F.05
the unexpired term, collect rent, and hold Lessee liable for any difference in
rent collected due to Lessee's abandonment, and Lessor shall in no case be liable
to Lessee for acts pursuant to exercise of this option.
15 DEFAULT.. if any default is made in the payment of rent, or if Lessee
defaults in the performance of any other covenant or provision of t!` i s Agreement,
Lessor may, at its option, terminate the Lease, retake possession of the teased
Premises and remove Lessee. Lessor shall recover from Lessee all reasonable
attorneys' fees and court costs incurred in legal proceedings required to secure
Lessor 's rights hereunder in the case of default by Lessee. Ir an event of
default occurs, whether or not Lessor elects to terminate this Lease, Lessor may
enter upon and repossess the premises by force, summary proceedings, ejectment,
unlawful detainer or otherwise, and may remove Lessee grid all other persons or
property therefrom. No termination of this Lease and no repossession of the
Leased Premises shall relieve Lessee of its liabilities and obligations under
this Lease, all of which shall survive any Such termination or repossession.
In the event of any such termination or repossession, whether or not the Leased
Premises shall have been re -let, Lessee shall pay to Lessor the rent and other
sums and charges due to be paid by Lessee up to the Lime of such termination or
repossession and thereafter Lessee, until the end of what would have been the
term in the absence of such termination or repossession, shall pay to Lessor as
and for liquidated damages and agreed current damages for Lessee's default, the
equivalent of the amount of rent and such other sums and charges which would have
been payable under this Lease Agreement by Lessee, if this Lease Agreement were
sti f f in etfect, less the net proceeds, if any, of any re-leLLing by Lessor,
after deducting all of Lessor's expenses in connection with such re -letting
including without limitation all repossession costs, operating expenses and
4
DEC -13-1991 09:28 FROM HERTOGS LAW TO 4235203 P.01
attorneys' fees.
16. GOVERNING LAW. This Agreement shall be governed by and construed
according to the laws of the Slate sof Minnesota.
17. SEVERABLE PROVISIONS. Each provision, section, sentence, clause,
phrase, and word of this Lease Agreement is intended to be severable. If any
provision, section, Sentence, clause, phrase or word hereof is illegal, invalid
or unenforceable for any reason whatsoever, such illegibility, invalidity or
unenforceability shall not affect the validity, legality or enforceability of
Lhe remainder of t])is Lease Agreement.
18. ENTIRE AGREEMENT -t- This Lease Agreement contains the entire agreement
and understanding between Lessor and Lessee with respect to the Leased Premises,
and can be modified only by subsequent written agreement between the parties
hereto. The covenants, terms and conditions of this Lease Agreement shall bind
and inure to the benefit of the heirs, representatives, successors and permitted
assigns of the parties hereto.
IN WITNESS WHEREOF, Lessor and Lessee have executed this Lease Agreement,
as of the day and year first above written.
Lessor:
THE CITY OF ROSEMOUNT, a
Minnesota Municipal corporation
By
Its
And
Its
5
Lessee:
SUNRISE BUILDERS, INC., a
Minnesota corporation
By:
Its
UEC -13-1991 09.29 FROM HERTOGS LAW TO 4235203 P.02
SlAIE OF MINNESOTA )
COUNTY OF )
The foregoing instrument was acknowledged before me this day of
1992 by and the
and cif Lhe C i Ly o osemount, a Mfnnesata
Municipal corporation, on behalf -of the municipal corporation.
Notary Public
STATE OF MINNESOTA)
COUNTY OF _ )
The foregoing instrument was acknowledged before me this day of
1992 by the of Sunr i sc Bu i 1 dors ,
Inc., a Minnesota corporation, on Fehalf of tcorporation.
ER
THIS INSTRUMENT DRAFTED BY:
Eric A. Short
.Hertogs, Fluegel, Sieben,
Polls, Jones & LaYerdiere, P.A.
999 Westview Drive
Hastings, MN 55033
Telephone: (612) 437-3148
N
Notary Public
------ ------------------------------------------------
DEC--:13-1991 09:29 FROM HERTOGS -LAW
ey cerp tuon or Pcrtacrowc
;resumed for mortgage registry tax parmetM ddidi
XORTGAGE REGISTRY TAX DUE HEREON:
4235203 P.03
S
THIS INDENTURE. Made this 31 c -t day of JaftivarY
betwer+r Sunriso Rllildprc. irtc.
a corporation — under the lawn of
Minnesota
mortgagor (arhethor nnn or rnrmw); nr'id RUSaxltotmt State Bank
Mortgam (whether one or mare),
yi+Ti'NEgSi+"PH I'hst Mort ia�dtiOf the aum of----- --- DOLLt4R5,
(yip HUndreG T_hous+ln antl vv�+vo
e whexiwf is hereby acknowledged, doea hexebY convey unto .
to Mortgagin hand paid by Morigaigee, 1n
Mortgagee. forever, real property is d Ota CotmtY Minnesota, described as fattawa
ar
See Exhibit "As attached herOtn.
together with all hereditasrtents and appurtenatne" belonginlC thereto (the PiapertY)•
TO HAVE AND TO HOLD THE SAME, m MortgaM forever. Mortgage' Covenants w1tb om aki ta� as Iran wG That M -o frfoll- A
-lawfully seised of the Propertv And has goad right to cor"•ey the Str "; that the Propexn is five from ail encumbrances except
none
Ltwt Mo.�iCaRec shall atnMq'en+oyand ppyybg;hegarew•nnQ mal Vforti[scaorwm""°a'u'I.a'a13tf�nd t�`•tide to shs.oms aMainetatlla�+r
Haim±ttnt)IelYirlh4(brP spRGlt�Cally sxcepted.
so Mo.'tga ti >:
Two +Uuul�–�.�um of DOLLAM.
HUnOi"@G 1tl0USa>� SnG vuJs �
,c r r:.a y nen ni.v.a A*to hmwwith (the See), the tial Aa rsD4Tt bprt due and 4p times on
1�et cart ded in the Note, and ehaU repay to MortRei4S. a<thp titers and with tpro`rMt a -
em"6er dl. ly'�7 withiatesMtatthe p is a RodnssnsatentapaYa then ztlr
•pecked. all ev7MadVan 01dinprotecting the lien ofthis Mort e, inPRY'�rebt On sin FnptiotLteA !%PAT"as t*rWefeeehatcinprovided for and
insurance premiums cm•erinitbcild'utKe th?120n�PTiT pa all theeovenanta and atTc m nt$t+et'Mn eontatatd.then
surae sdvaricad for any other perposc authorized herein. and Shall keepand perform
thia MortRoxc shall Ee null and void. and ORD be mums cd at rYforW*goi a expense.
b
p\l% 11UHlt.:Ai Klrt :�avrn:,: �'� xtrn Ivior4;hr:re easy �.•ih..,>.
i :nonra' anii l�yrrest i• dpeeirAd =n the Note: i befOr,>na14Y aitachds thereto.
W DAY the Priaciya; ,�:;:: •, hatea:ftor become liens atBAittsr the Prupet2,' ..
to ggY Ail taxed hr.A t.V
s iren s now due ar that may n ofthe P-P&M ir. Wxed ai Aittst loss by fere. rxirrcwl
3. to 4xP all btuidinit*. •nr Prnx•'�^encs and t x ur*s avw or to Dented tm or a e f odion, for At least the ansount of
v.nrl� :�c�,y� y��Qu�Q,rsmhtr Y Lif ' in atbdra bWl aryl 4 L d Ari WCAted in a
ee+'rrdR'• "Ig. T U t l „IT{StiTaor
s unpaid ander thfa Martg"t. If any of the baiidiaios imp* -- M procma and matxmfa flood
at 811 Limos while any sawnnt remain if flood ins"ar�e is avnilabb+ Oar that pew MoutrRB A a loss PaMable olaw is f'avar of
4e WMU7 des9enow Mod prop* area. and to bj' MW' £nal' insat8not paw ell eotsta:
M,,,ipapd>wAffnrd aallti nitivilaRes smm YpeQ'ndeduaAar ivenoticscdaucli��ymmag neatatha oto ahmk e
1 _ etpMortgeBeeA tbatiwutancv �vutpa>�y
tolhnPrODtrWh9fixorothletasuslty.AiextsBdoT yoro�npaPMpftllhatased tp+dobuataeaaffi**8UteofMiaaeaats
vtdefornotlassch�sttendayswtttta+no�ci+toMot'tgagadbefots+ameti<ation non --L—".
fkfeirtsotat>oedh8llbeis POlidaainaurarao oot.r "'amts, of such lasATa
Mastgaxee.Ttwipsuranaeyolideeahallpp , shell deriver to MorcB a duph
temti tariotr. or chaste in ocveraga; and MOflim uml`>� tyg. eioureYdll oths-
Oolicfes; of ail priorllepa orancuarbxattOsa, naary.aad wino
l topay.wlirndttl bDiApriacP+tiaadintRra+t
prior liens or RacanlbrartC%%
o. to commit or permit no WARM oa tlw Pr4P 5 to lc*6D it is of Dort , SAY fa the protnekion oftiw
4i to catat+I'llet *Whh any iMPOWUMM" • hitb may
h t,isaonotliaga
7, to Pay anyotharo%p&ndaranch%oraaY'afeedincurtmdbYAfortBa6+ai'Y
lira oYchis lSartBaBe• WAS and awmey'sfees aaabove epsai> ott4
jn cast of failure to DSY said taxed and a85csnstaat9, Dritx bprta at encuFikRaaa�. M'Y Py
insure said build W iMP"eaten"' sad fixarraa and dtliver the poliaa the ssihis ao paid shall boas � be imraadintely due
liana.dubsnsef and Attorney's fws arutinteresith �odhalt iW-'.d tna dW A.'.dditiansl lie>++Rr
btsin r, Liu, Pe»raert.Y
�h pagmtnt interest
et Leta same rase sot meta to the 14" aheri ftm date thereof"MetIlte "Pa"UM of such aysntes balance of
and payable from MoM gorto Morte w and this Ma 9"' optionyfd adngtheunD9id
Incase ofdefsultinany ofthe fosegoinaowsnsnn.Mortass1°Dw+ s and payable withoatnotice.+sad
t Olson, t ogcther with all some advemce_d� ,Mt�.A,��I�j o !ia or to a*lt the Propa W at Dui 8wd" a+td
the hots sad the talateet -a*,''ortpgse to fvreeloee thea bdortgap by J inti' u n mio b rotdAn eu duns*
hmnby authotize* and *mp4waKra • statu78.anA out tUortWA delle a>idia>UWgfee pa tW by ism. which
rm foe simple gorordaac* suCb 4crseloaure and the maedmum gytera*y s fila perrai
*Davey the aatatto the purchaser
mc�tr*d btreby, with larereNt asci nit legal �Y sad chere►�e t3ant ""10" in itdtaest.
Doers. cb&mM and fess Morts sw as"
apd b as *tis PAM" hers 8114
The yppru odiltfa MorgSag* shall run wads dee 1'za➢A�r
IN TE8'i'il4QNY WMmrt�agor leas ha<aaittu ale its band thedaY sad yarr lisstabove '
MORTGAGOR
sunrise Buildamt Inc.. a Minnesota
Its
B9
STATE OFb3nMSOTA x its
DAKOTA COUNTY' OF
e
bfore me this —dam"
The r relloina instrument was as rkowof
ied ani
by and mora
the Unrlse lsu ers, nc. Corparai
i n WOW > an behalf of the
under the lames of __may
:r•toys, ilue9el. Sieben, Dol k,
ales 6 LaVerdiere
ric A. Short
99 Yestview Drive
a.tings,
&121 437-3148
FAILISRE'ro RECORD OR FILE GA
THIS
MAY AFFECT THE ITY PRIOROF TEiiS MORTGAGE
ENT
N +t
FAILISRE'ro RECORD OR FILE GA
THIS
MAY AFFECT THE ITY PRIOROF TEiiS MORTGAGE
___ �__•1 �._ �_ rrur1 HERTOG'S LAW TO 4=5MT1 P.08
GOA caaCT Fort area Form No. M?d
Na drUnq ur :t Luxe% and traaster entered:
Certificate of final F.atate Ca)eLc
( )filed loot required
, 19_.
Counts Auditor
By
MOrMAOR RVCIVMT TATs DUE HER ON -
S
1"esavee for WC11" nglstry ax w lists)
Date: January 31 19 92
THIS CONTRACT FOR DEED is made on the *boys date bF
Sunrise Builders, Inc. corporation s Minnesota
,a under the laws o.
u1cr, and 1 ne Li tY of KoSetaount
Purchaser (whether one or more).
Seller rod Pwmkaeer ag*e► to the fvUovAim term=
1, PROPERTY &)r,, GR 7?N. Mer hereby mUs, and Purchaser hereby buys. zeal property in
fA Comly, Mune"", deutribed as folio il:
See Exhibit "A" attached hereto.
together with all hereditamento and appurtenmr-om belonging thereto (the Propertc-).
2 iiTLE. Seller warrants tbnt titic to the Property is. on the date of this contract, subject only to the
rullvwing rXimpLiuew: -
ia) Covenants, conditions, restrictions. declarations and easements of record. if any:
(b) FA*eryations of mineral+ or mineral rights by the State of Ylinnesota. if any:
(c) Building. roninir and subdivision lawn and regulatio».e:
(dt The lien of oral a%ante taxies and installments of special assessments which are payable by
Purchaser pursuant to pamr,*Ph 6 of this contract: and
(el The follouinr liens or eneumbrarlow:
Mortgage in favor of Rosmount State Bank dated January 'sl, 1992,
recorded 1992, as Docualettt No.
8. DEER'ERYOFDEED AND EIVIDE.NCEOFTITLE. t;ponPurthaser'spmmptandfull p-formance
of this contract. Seiler --hall:
(n) Exe:cata, aeknn..l..dre and deli+er to rurehaxr a Warranty
recordable form. conveying marketable title to the Property to Purchaser, Subject only to the
following exceptions:
(i: Thrum exceptiont refereed to in paragraph Y(a), (b), (c) and (d) of this contract:
(ii) Liens, encumbrances. adverse claims or otber mat" whia Purchamrhas created. -uffT.-m-d
or perrinzed to accrue after the date of twx contract: and
DEC -11-1991 15:35 FROM HEP.TOGS LAW TO 42 5-203 F.09
ilii. The foiioa ni, liens or encumbrances: stone
;nnd
(b) Deliver to Purchaser the abstract of title to the Property or. if the title is registered, the owner's
sl yAirate certificate of title.
4. PURCHASE PRICE. Purchaser shall pay to Seller, at such place as Seller may designate
Inree nun x u a a entti of
as and for the purcaase price for the Property, payable as follows
5. PREPAYMENT. Unless otherwise provided in this contract, Purchaser shall have the right to fully or
parially prepay this contract at any time without penalty. Any pattia.) prepayment shall be applied
first to payment of amounts then due under this contract, including unpaid accrued interest, sad the
oalant r shall be applied in. the principal installments to be paid in she iuvense vtvlet of tbv,- a;a:utitl'.
Partial prepayment shall not postpone the due date of the installments to be paid pursuant to this
contract or change the amount of such installments.
6. REAL ESTATE TABES AND ASSESSMETti TS, Purchnoer shall pay, before penalty acameA. all real
rotate ranee turd ittx� ,,,
Lr of %,YvC:al as eaat%mnte assessed aaainet thr Proparty —. 6ch are due and
payable is the year 19 lu
and in all subsequent years. Real estate taz(--% and installments of special
assessmcntm which are due and Payable in the year in which this contract L. dated shall be paid as
follows: nro-rated as of the date of closing.
Seller warrants that the real estate taxes and installments of sprcW' assessments which were Bur And
payabie in the years preceding the year in .which this contract is dated are paid in full.
'. PROPBRTS' 1is;SLiRA'trrF.
(a) INSURED RISKS A.tiD AMOUNT. Purchaser shall keep all buildings, improvements and
fixtures now or later located on or a part of the Property insured against lass by fire, extended
omgrafte p"r'ls' t "rt urf'1nsuraiisl t e slid. if applicable, steam boiler explosion for at
least the amount of
if an.• of the buildings. imorovements or fixtures I n.,. locatedin a fttderally desiltnatcd flood prone
area. and if flood insurance it available for that area. Purchaser shall procurr and m alntain flood
insurance in amounts reasonably tattissfactory to Sella.
{b) OTHER TERMS. The insurance policy ahall contain aloss payable claus* in favorof Seller which
protides that Seller's right to recover tinder the insurance shall not be impaired by any acts or
omis3ion,e of Purchaser or Seller, and that Seller shall otherwise be afforded all rights and
privileges customarily provided a mortRaxee under the so•callyd standard moRgaae clause.
tc) NOTICE OF DAMAGE. In the event of damage to the Property by firs or athts casualty.
Purchaser shall promptly give notice of such damage to Seller and the insurance Company.
S. DAMAGE TO THE PROPERTY.
(a) AF.F1AL;A'i'lU1'v U!llvdUK"CE )?ROCELDS. If the rropetty is dams,;,w1 by Aro -. utd.er
casuals•, the insurance proceeds paid on account of such damage shall be applied to payment of
the amount -payable by Purchaserunder this tnontmet, even ifeachsmountswenot then due tohe
paid. utile"+Purchaser taakes a permitted election dow. nbedinthenextparaltraph.Suchamounta
shall be fizat npolied w ur)paid aeeraod intctest and next to the insttdl menta to be paid so pro -dad
'n thin remumet in the inverse co -dor of tbair maturity. Such pavmwnt ahau not poo""" the due
dot& of the instnlamRnta to be paid punuwat to tlfi. mntMR or W w.,a'. the amouns of dura
instunt"nts, TA. Kee --ca or issaranae promod.. if any. sb&D be Ow prow `W eY PumAa~. . .
$50,000 in cash, the receipt of which is hereby acknowledged.
5266,000,00 payable as follows:
> r;
A`•r
$66,00o.00, plus interest at the rate of 8% per anatxty in monthly
x
installments of $2,068.20, which paymomts shall be due and payable
on tate first day of each =nth commencing the first day of March,
.��
1992, and continuing thrnugh and including the first day of
February. 1995,
�..
$Zoo,000.o0 plus interest at the rate of 9.55 per annum, in monthly
installments of 54,200.37 per month, which payments shall be due and
payable on the first day ut easb month ciosrmene4ng on the first day
of March, 1992, and continuing through and including the first day
of February, I.W.
Interest shall commence on the day of this contract. Payments
shall be first applied to accrued and unpaid interest and the balarier
to principal.
Seller agrees that Purchaser may, at its option, pay such sums as
may be owed to Rosemount State Sank by Seller directly to Rosemount
State Sank and deduct that amount from the amount to be paid by
Purchaser to Seller.
5. PREPAYMENT. Unless otherwise provided in this contract, Purchaser shall have the right to fully or
parially prepay this contract at any time without penalty. Any pattia.) prepayment shall be applied
first to payment of amounts then due under this contract, including unpaid accrued interest, sad the
oalant r shall be applied in. the principal installments to be paid in she iuvense vtvlet of tbv,- a;a:utitl'.
Partial prepayment shall not postpone the due date of the installments to be paid pursuant to this
contract or change the amount of such installments.
6. REAL ESTATE TABES AND ASSESSMETti TS, Purchnoer shall pay, before penalty acameA. all real
rotate ranee turd ittx� ,,,
Lr of %,YvC:al as eaat%mnte assessed aaainet thr Proparty —. 6ch are due and
payable is the year 19 lu
and in all subsequent years. Real estate taz(--% and installments of special
assessmcntm which are due and Payable in the year in which this contract L. dated shall be paid as
follows: nro-rated as of the date of closing.
Seller warrants that the real estate taxes and installments of sprcW' assessments which were Bur And
payabie in the years preceding the year in .which this contract is dated are paid in full.
'. PROPBRTS' 1is;SLiRA'trrF.
(a) INSURED RISKS A.tiD AMOUNT. Purchaser shall keep all buildings, improvements and
fixtures now or later located on or a part of the Property insured against lass by fire, extended
omgrafte p"r'ls' t "rt urf'1nsuraiisl t e slid. if applicable, steam boiler explosion for at
least the amount of
if an.• of the buildings. imorovements or fixtures I n.,. locatedin a fttderally desiltnatcd flood prone
area. and if flood insurance it available for that area. Purchaser shall procurr and m alntain flood
insurance in amounts reasonably tattissfactory to Sella.
{b) OTHER TERMS. The insurance policy ahall contain aloss payable claus* in favorof Seller which
protides that Seller's right to recover tinder the insurance shall not be impaired by any acts or
omis3ion,e of Purchaser or Seller, and that Seller shall otherwise be afforded all rights and
privileges customarily provided a mortRaxee under the so•callyd standard moRgaae clause.
tc) NOTICE OF DAMAGE. In the event of damage to the Property by firs or athts casualty.
Purchaser shall promptly give notice of such damage to Seller and the insurance Company.
S. DAMAGE TO THE PROPERTY.
(a) AF.F1AL;A'i'lU1'v U!llvdUK"CE )?ROCELDS. If the rropetty is dams,;,w1 by Aro -. utd.er
casuals•, the insurance proceeds paid on account of such damage shall be applied to payment of
the amount -payable by Purchaserunder this tnontmet, even ifeachsmountswenot then due tohe
paid. utile"+Purchaser taakes a permitted election dow. nbedinthenextparaltraph.Suchamounta
shall be fizat npolied w ur)paid aeeraod intctest and next to the insttdl menta to be paid so pro -dad
'n thin remumet in the inverse co -dor of tbair maturity. Such pavmwnt ahau not poo""" the due
dot& of the instnlamRnta to be paid punuwat to tlfi. mntMR or W w.,a'. the amouns of dura
instunt"nts, TA. Kee --ca or issaranae promod.. if any. sb&D be Ow prow `W eY PumAa~. . .
LEC -11-1991 15•7: FROM HERTOC3S LHhI TO 4—J^'� 0_ P.10
J ?
I,! K'RC'FtA!+irk'SFLEt-TION'TOREEL:it.n.Ifpvrrhaaerit, �otindefauhundo-+t+i.ee�ntmat.et
ewr;rc ,t.,� >�%'4 ?r'ru:t. and if ,t.r mortrrat.•e.`• in any pnnr mnteatre» .,.rd %tilcr..',n
;.t:..•r
anvr • .strait. .•• . , wt ,1•, .,re. rare:rr o:trr•r ver, Pur ht++ �r rosy cl.�at to hair tht% ;,onion of ,..,•h
+.nr.urnnte 'ovt„ ,4ry n raps, r. roplaee or ry torc the de mused YMprszy eros "l—if -J00
v^ `
d.p<.sited +n • >.:, " 'a' 'h R brink ur title inaurariCt company pnaiiiieQ to do b":i rennin the Sttete of
Seller andl'urchower.The vi-nion
�linneaatA.•`'•� h•r•�t�AnrevaEmavbamutVailc^nxtreat)etc
may only be made in- written notice to Seilmr within sixty d3vs after the damage occur%. "0. the
if for and specifications, and Contra eta forthe repair work we
eiection %.ill only be permitted plans
approved pytilrilgr, which approval Svllr 41ta11 net w.ecaoanately wUhbol,t m` dolny. If such a
Purchaser shall. jointly deposit. when paid.
permitted election is made by Purchaser, Seller and
into such escrow, If such insurance proceeds are insataonc for the
such insurance proceeds
work, Purchaser shall. bifem the commencement of the repair work. deposit into such
repair
sufficient additional morecr to ingm the full paymertt for the repair work. Even if the
escrow
tasuranee proceeds tare uau�x able w are ineuffBaiant to pay the eoet ttf the relier work.
tunes be. responsible to pay tho full cost of the repair work. All escrowed
..
Purchases shall at all
funds shall be disbursed by the escrowee in accordance with itenerallY OMPted sound
disbursement procedures. The costs incurred or to be incurred an account of such
S,
construction
escrow shall be deposited by Purchaser into such tatcrow before the commencement of the repair
Parrhauet coa191E&e Qts rrpair wank eta aeon as reaannahly possible and tri a Rood and
work- b"11
workmanhict mariner, and in any event the repair work shah be completed by Purchaser within
one year after the dwmp occurs. IL following the oompletioa of and payment for the repairwOrk,
escrow funds, such funds shall be applied to,povmrnt of the
there tt7»sen any nndisbetreed
omoants payable br Purchaser under this contract in accordance with paragmph 8 (a) above.
..
p
1`
b. ;NjT,TRT OR DAMAGE OCCUMUNG ON THE PROPrRTY.
I IAl3lT1TZ. £.suis shall be free from liability and ciaims for damages by mason of injOr*$
tat
of thiscontrsettoany person orpereonsorpropertv while on or about
ocrnrrittrt on or,tforrthedate
the Property. Purchaser shall defend and inde ounii<t• Seller from aU liability, loss, costs and
obiiFatiaaa.irtciudingreasonobieattornm fres.ona000untoforarivingoutofanvsuchinjuries-
hVVA nn HAW* or obligation to Seller for such injuries which are.
liawcvar. Parohaaar shall
Canned by the negligenor or intentional wrongful acus or omissions of Seller -
(b) LABII TTY D;SLIRANCE. Purchaser shall, at Purchaser's overt expense.. procure and maintsia
linbiiity insurance against claims for bodily inicry. death and property lona" OccurIng on or
to Seller and naming Seller as an
about the Property in amounts resaonabjy satisfactory
additional iaacrtw?
10. INSMkNCE. GET'F.RALLF. The insurance which Purchaser is required to pr.cutr and maintain
Pursuant to paragraphs iand 9ofthiscontract shall. beiseuedbyaninsurancecomPanyorcompanies
Miriaesota acreatablc to Seller, The insurance shall be
licensed to do business in the State of and
maintained by purchaser at all timer while any amount remains unpaid under this contract. The
for }ess than ten days written notice to Seller before cancellation,
las„*>,. r• t+nl;ricx :hall provide not
man -renewal, termination or change in coverage. and 1,ureasser shall deliver to Seller x .I..pl;catc
original or certificate of such insurance policy Pow.
L of the Property is tnken in Condeatrl cdon proceedings instituted
11. CO �'DEMICATION. all or. a ny part
under ofetnincatdomainori%cooveyedinlieuthereofuadtrtitrestofeoademnatiem. hemo*c.'
n
power
Haid pursuant to trach condemnation or conveyance in lieu thereof shall be applied to payment of the
by PuTchn%er emdeT this contract. even it au"I'tan.,TuntO arc nae then duotn he parse..
xCiounts Payable
Such amounts shall d t to unpaid accreted interest and next to the installments to be Pro
be applied fir+ d
is, orderofthefrmaturhY. Such payment shall not postpone the
as provided to this contract the int erse
due date of the installments to be pak! pursuant to this c ntu rroe°r ciut>:b^e true amount of such
intztallerwnta. The balance. if any` shall be the propertyof
12,WA.1 Lits. hbeATR AI L LISN3- Punhxevt shall not remove ar demolish t nt },nildings. im•
later located on ora partof the Property, nor shall purcha%cr commit or
y
prey or fixtures now or
allow ante of the Property^. PurchAmtr shall maintain the Property is good condition and repair.
issue or adverse claims against fire Propel, which
Purchaser shall not create or permit to accrue
Seller's interest in the. Property. Farchaser %hall pal' tr. Heiler all
cgnstitute a Fen or claim agnenat
»OVnTa, ppFta autl ewter.•t}.:nclu3irR.ra'waablc ntter»oyc' faas.:nrqerraa by Seller to-r:nove any
such liens i r adverse cinima.
13. PEED AND MORTGAGE REGISTRY TAXES, -ellerothall. upon Purchases t full performance of this
contract, pay the deed tax due up” the recording or filing of the deed to be delivered by seller to
Rung of this contract shall be paid by
Purchaser. The mortgage registry tax due upon the recording or
the part,• woo retarear tet li1.a this contract: however. thie pr'ovieiom shAfl not imnair the rt ht of Seller
such tax actually pard by Scaler as provided In the appncabit
t
o collect from Purchaser the amount of
law coverning default and service of notice of trratination of this contract,
14. NOTICE OF A^SSIG'OSiti. ifeither: elltror Porchaeeraasians their interestin the. Properm c mpv
of such assignment shall promptly be furnished to the nonassigning party,
i.%7flBESTS-1fPurcha.ver fails to ray snY• sum Of money rratared underthe terms
lA. PRO'I'i;t;:i"Il�rr OIr
of this contract or Saila to verfa:m any of Pv mbaser's obligittions as set forth in this contract. seller
may, at Seller s option. pay the same or cause the same to be perforated, or both. and the amounts so
paid by = eller and the Crnt of such perform-ahce 9ha11 be payable at once, with intrrest at thr talk Stated
in paragraph 4 of this contract, a� an additional amount dug Seiler under this contact.
If there now enir.w. or if 5ollcr k—"ft" rro tine. suf fere or vermite to a!Trut, any mortgage. Contractfor
deed. lien or encumbranec against the Property which is not herein expreBely sv*u:nen by 7 umhsatr.
zed pros;dr-d Purchaser it not in default under this contract, Seller "halt timcl%• pec ail amounts due
thereon. and if Seller fails to do %o. Purchaser may, at Purehaecr's option. pay any such delinquent
amounts and deduct the amounts paid from the installments) next coming cue upder this contract.
In -Purchaser thr tariII9 Qf thi%Contract is an e�tm
er pal of
16. DEFAt-tt . r 7%V smo of performance of
tux
ny ofthetcnsoi thiscontract gellrr ,, +.
thi. contract. Should Purchaser fail to timely perform xr
and terminated by notice to Purchaser in
-%a ftz;nm eleet to deciare this contract cancelled
accordance with applicabic law. All right• title and interest acquired underthis mntrart'o.y Purchaser
and aU improvement% madeupon the Property and all paymentsmade
shalt then cease and terminate.
by Purchaser DRr%Uant to this contract Shall heiong to Seiler as lrgaidated damages for breach of this,
con tracL \either the extension of the time for payment of any sum of money w Lk paid hercundcr nor
waiver by Selier of Seller's rights to declare this contract forfeited by reason of any breach swill in
nny
env manner afiecx Seller s rightk• cancel this contractbecausecfdefanita subsequently occuttins, and
no extension of time shall be valid unless agreed to in writing. ?,iter service of notice of default and
bylaw, Purchaser, shall. upon demand. surrender
failure to care such defauh Kithin the period allowed
Poase:'"ion of the Vropetty to' eller. bat Purchaser shall be euliUtd to Por"can+vn of thw pt"part until
thy. expiration of such period.
1". RINDLNG EFFECT. 'rhe tercets of this contract shall run with the land and bind the parties he.recetand
their successors in interesL
C19:24 FROM HERTOGS LAW TO 4235203 P.02
LEASE AGREEMM
THIS AGREEMENT is made as of the day of 1992# by and
between THE CITY OF ROSEMOUNT, A MINNESOTA MUNICIPAL CORPORATION, hereinafter
referred to as "Lessor", and SUNRISE BUILDERS, INC., A MINNESOTA CORPORATION
hereinafter referred to as "Lessee";
1. LEASED PREMISES. Lessor in consideration of the rents and covenants
hereinafter described, does hereby lease and demise to Lessee the following
described real property, improvements, and use of any common areas in
building located in the County of Dakota and State of Minnesota, hereinafter
referred to as "the Leased Premiseh".
See Exhibit A attached hereto.
2. PUBPQ5E-,- Lessee shall use the Leased Premises for the purpose of
operating a building supply store or rur any other lawful purpose. Lessee shall
permit no hazardous substances as defined in Minn. Stat. §1159.01, et §N—. upon
the property.
3. TERThe term of this Lease shall be three (3) years, and shall
run from January 31, 1992, to January 30, 1995, unless terminated sooner as
provided in this Lease Agreement.
4. RFtL1L Lessee shall pay to Le55ur as rent for the Leased Premises
monthly payments of $750.00 in advance, on or before the first day of every
month during the term of this Lease. The first monthly installment shall be due
Lessor or january 1992, RdYIIILNILa �dloll l 1ju jjjctj`cj v: delivered to LC33or at
2875 145th Street West, Rose-,�iourt, MN. 55068, or at such other place as Less or -
may designate in writing.
0
5. RETURN OF POSSE55I0N. Lessee, upon expiration of the term of this
Lease, shall quit and deliver up the Leased Premises to Lessor peaceably and
quietly, in as good order and condition as when Lessee took possession of said
premises, reasonable wear and tear excepted.
6. FEES. Lessee shall be responsible for the payment of all rea
property takes assessed against the Leased Premises and'for the payment of any
and all special assessments levied against the premises by state or local
government. Any property tax or assessment statements received by Lessor shall
be promptly delivered to Lessee.
7. UTILITIES. Lessee shat l pay al l charges for gas, electricity, 1 ight,
heat, air conditioning, power, water, and all other utilities upon the Leased
Premises, and shall be responsible tor all telephone installation and service
charges, and the expense of trash and garbage removal, if any.
S. iR _llRANQE- Lessee shall maintain and be solely responsible for the
cast of fire and extended coverage insurance on the Leased Premises in the amount
of the full insurable value of the Leased Premises. Lessee shall maintain and
be solely responsible for the cost of comprehensive general liability insurance
on the leased premises naming Lessor as an additional insured thereunder. Said
liability coverage shall protect Lessor from liability with respect to accidents
occurring on or about the Leased Premises, in at least the amount of $200,040
tor injury or debt to any one person and $600,000 for injuries or debts arising
out of one accident. Lessee shall be responsible for obtaining and paying the
cost of insurance on its own equipment and property within the Leased Premises.
9. MAINTENANCE AND REPAIRS. Lessee shall Keep the Leased Premises,
including fixtures and furnishings, and the yard and grounds, in clean and
orderly condition, and shall cause or permit no damage or waste to said premises.
N
CJE;-:-13-1991 09:25 FROM HERTOGS LAW
TO
4235203 P.O-=
10. LIABILITY. Lessor shall not be liable for injury or damage to the
person or property of Lessee occurring within the Leased Premises.
11. INDEMNITY. Lessee shall indemnify and hold harmless Lessor from
and against any claim, liability, expense, or loss arising out of the injury to
any person or damage to any property occurring on the Leased Premises or p;ilio
areas adjacent thereto, including mechanic's liens againaL the Leased Premises.
12. DESTRUCTIN. Should the Leased Premises, without any fault on the
part of Lessee or Lessee's agents, be destroyed or so injured by the elements
or any cause as to be untenantable and unfit for occupancy, this Lease shall
expire and Lessee's obligation to pay rent abate. Upon expiration, all
obligations and rights of both Lessor and Lessee hereunder shall cease, with
rent apportioned to date of expiration.
13. RIGHTOF ENTRY. Lessor shall have the right to enter the Leased
Premises for the purpose of performing Lessor's obligations hereunder, for the
purpose of avoiding damage or injury in circumstances of pmprrgency or other
necessity, for the purpose of inspection of the Leased Premises upon reasonable
belief such inspection is necessary to avoid damage or waste by Lessee, and for
the purpose of preparing, exhibiting, and showing the Leased Premises for sale,
lease, financing, or appraisal. Following notice by either party hereto that a
lease term will be terminated, Lessor shall have the right to post the usual
notices "For Pent" or "For Sale", and shall be allowed, at reasonable times, to
bring prospective tenants or purchasers within the Leased premises for purposes
of showing the property.
14. ABANDONMENT. If at any time during the term of this Lease, the Leased
Premises are abandoned by Lessee, Lessor may, at Lessor's option, enter the
.eased Premises and relet the premises as agent for Lessee for any portion of
3
,EIEC -13-1991 09:26 FROM HERTOGS LRW TO 42 552103 P.05
the unexpired term, collect rent, and held Lessee liable for any difference in
rent collected due to Lessee's abandonment, and Lessor shall in no case be liable
to Lessee for acts pursuant to exercise of this option.
15. DEFAULfi. If any default is made in the payment of rent, or if Lessee
defaults in the performance of any other covenant or provision of this Agreement,
Lessor may, at its option, terminate the Lease, retake possession of the Leased
Premises and remove Lessee. Lessor shall recover from Lessee all reasonable
attorneys' fees and court costs incurred in legal proceedings required to secure
Lessor 's rights hereunder in the case of default by Lessee. If an event of
default occurs, whether or not Lessor elects to terminate this Lease, Lessor may
enter upon and repossess the premises by force, summary proceedings, ejectment,
unlawful detainer or otherwise, and may remove Lessee arid all other persons or
property therefrom. No termination of this Lease and no repossession of the
Leased Premises shall relieve Lessee of its liabilities and obligations under
this Lease, all of which shall survive any such termination or repossession.
In the event of any such termination or repossession, whether or not the Leased
Premises shall have been re -let, Lessee shall pay to Lessor the rent and other
sums and charges due to be paid by Lessee up to Lhe Lime of such termination or
repossession and thereafter Lessee, until the end of what would have been the
term in the absence of such termination or repossession, shall pay to Lessor as
and for liquidated damages and agreed current damdges for, Lessee's default, the
equivalent of the amount of rent and such other sums and charges which would have
been payable under this Lease Agreement by Lessee, if this Lease Agreement were
stiff in ettect, less the net proceeds, if any, of any rye-leLLing by Lessor,
after deducting all of Lessor's expenses in connection with such re -letting
including without limitation all repossession costs, operating expenses and
4
TEC --13-1991 09:20 FROM HERTOGS LRO TO 4235203 P.01
attorneys' fees.
16. GOVERNING LAW. This Agreement shall be governed by and construed
according to the laws of the SLate of Minnesota.
17. SEVERABLE PROVI510NS.. Each provision, section, sentence, clause,
phrase, and word of this Lease Agreement is intended to be severable. If any
provision, sectivn, senLence, clause, phrase or word hereof is illegal, invalid
or unenforceable for any reason whatsoever, such illegibility, invalidity or
unenforceability shall not affect the validity, legality or enforceability of
e remainder of t])is Lease Agrccment.
18. ENTIRE AGREEMENT_ This Lease Agreement contains the entire agreement
and understanding between Lessor and Lessee with respect to the Leased Premises,
and can be modified only by subsequent written agreement between the parties
hereto. The covenants, terms and conditions of this Lease Agreement shall bind
and inure to the benefit of the heirs, representatives, successors and permitted
assigns of the parties hereto.
IN WITNESS WHEREOF, Lessor and Lessee have executed this Lease Agreement,
as of the' day and year first above written.
THE CITY OF ROSEMOUNT, a
Minnesota Municipal corporation
By
Its
And.
—Its
5
Lessee.
SUNRISE BUILDERS, INC., a
Minnesota corporation
By -
Its
.DEC -13-1991 09:29 FROM HERTOGS LAW TO 4235203 P.02
YJA[E OF MINNESOTA )
COUNTY OF )
The foregoing instrument was acknowledged before me this day of
1992 by and , the
and u etre C i ty o Rosemount, a Minnesota
Municipal corporation, on behalf -of the municipal corporation.
Notary Public
`'ATE OF MINNESOTA)
}
yG�iT 0E )
The foregoing instrument was acknowledged before me this day of
1992 by the of Sunrir a Builders,
a Minnesota corporation, on ehalf of the corporation.
THIS INSTRUMENT DRAFTED BY:
Eric A. Short
.Hertogs, Fluegel, Sieben,
Polls, Janes & LaVerdiere, P.A.
999 Westview Drive
Has t i rigs, MN 55033
Telephone: (612) 437-31.48
r.
Notary Public
�L D-= 13-1991 09:29 FROP1 HERTOGS LAW TO. .
ay Cnit»rsUon Or Partnerstdp
{reserved for mortgage registry Sax payment data)
MORTGAGE REGIffiTRY TAX DUE HEREON:
4235203 P.03
THIS INDENTURE. Mads this 31 cf day of January i9 L2
betwnCu 5ttrlrisp Rililrlerc. irtr_.
a Corporation _underthelawso£ Minnesota
ISdortgtt�[aY (whpt?tPr nna nr room), said ...
Rosemount State Bank
, Mortguee (whether one or more).
WITNESSETFI, Tkt$t M o }�rgti o>etize &um of
f)j Hundred Th(oHu' nd art �CJ �D(7.88 ---------------- ..., .,...,.-------------DOLIAM,
to Mortgagor in hand paid by Mortgagee, tjie receipt whereof is hereby acknowledged, does hereby Convey -unto
Mortgave, forever, real property in VIM% Cotmty b inner ita, described as follows;
See Exhibit "A" attached horatn.
together with all hereditaments and appurtonarim bels &Lz thereto (the Property)-
'1'0 HAVE AND To HOLD THE SAME, t4 jtQgrtgagec forever. Mortgagor cotenants with Martgagm as folk w. That Mortltaifar ie
lawfully seited of the Property and has good right to convey the Oavw; that the Pteperty is fr9c from &" en@ntYlbr8n47ee. `%Mt ap follenx:
Hone
that Mortgagee shaft Qmc4lyen±cy Ind 0088l4t$ Ule wino; andzhnt Martrra{or-it)w 1-11tauv deftnd th.titt.toth...emsseKeinatul!la'•;Misr
chimFegnot hereinbefore spedfisally excepud.
--
IWt1 Fitt ny[ g'7� �1�yggryl3E� gg [ p} p b7M8Rt�&�ethl o4 --------------
' ft �LG' ! 130>ASdif1C1 31�t7tJ+�"��''�----- nnLLaRs.
T� to tq#a ��f� p nn;o.n�v nor. nF rwt Ante i,arnwith (the Note), the final parhtent being due and payable on -
U@G�"5@r '++ 7A7 ......with interest at the rate provided in the Nate. and shall repay' to Mo'rtgag", at the tirnna and with into, r'W aw
CiCd, all evens advanCvd in protecting the lien of thin Martgege, in paYment of tuxes on the PYOphPty and asseasoiCntB payahly therewith.
insurance pmmiumscoverinrtbuildinas thereon. principnl or intereatottd+nypri.or litim exp inmi; and attentev a Yves herrinprovidecl for AM
tmns advanced for any other purpose authorized herein, and shall keepand Pet fOym all the"toveilarty and agreements berein cnntnincd. then
thilt Mortgage shall be null and voi& and shall be rel*gmd at MotVAW'a 4mpense-
u 6,my the pr=I;jjrone-y nn.', ci the Noce:
-Y a[: taxes -".j r.,W e, t r�!' chat her*'�ftpf femme:idwr the Pr��p�-ny befort nalry attaches lherrfu.
3. to keep All buildin;:;. �mprr.%-n�r-Ld dIIYE,,ture. nt,w or I accr;Gc2ted. on Or A pAkr, of the Proqiayiravrod ;,j{;dnst lams by fire 0�11ew-d
U) dwani boiler explosion,'or at least the arnountuf
at all timos while any amount remains unpaid under this Mortgaffq- If any of tj'14bWldLngs, are �"00 in A
federally designated fl(*d pr*P4 area, and iffload injjLrjjm6 is available for that arm M&ngAKo%r shall procure and maintain flood
in5uranw in *imounls reasonably BafiafActory to Mortgagee, Each inautjjjjoe policy shall contain a loss payable clause in favor of
V—+vka— Aff4rdinr all. provided under tltcswrailed atandardtuarlgateclause. In the event ordamage
to the Property by fin orothercasuaity, 1A6rW"T*bjjI1 promptly give ineinsurank-v cump'n,"
'rhe insurance shall be!*sued by an inatirano company or ooffiganies licensed Wdo buoinesa In tka State of Minnesota And acceptable to
Mortgagee. This iasuraner polities shall provide fbttuft less than ren days wriom non-nd6wdl,
termination, Or change 10 00VMLgC and Mortgagor shall deliver to M0749UE6 it d0limte ozitiAstl or PgPdfimte 01 such insurance
4, ;*pay, when due. both PvincipaLdAd inWestafall wke�cp okha
prior lions 3m cncumbrancto;
5. to ccmxtit cr permit no waste act the Property and to keep it in Fabd -pain
6. to complete forthwith any improvemirPts which rnay hgvsafter be vndcr anume Of COnSVOCKM Oft the Property; and
Y. topayanyOtiterexpensesandattorney'sfewincvrredbyMortgugsehyreaaonoflitigationwithanythirdpartyfortheProtectianofthe
lien of this Mortgage.
In case of failure t, pay said taxes and asscssrnenta, prior liens orebe.11mbrantea, expenasg=A aUarnW*fee% as akwt awified, or td
insure said buildings, improvementa, and fixtures and deliver the pohki#* as of oaid, MorigAgeOMY WY such taxe2L, awmamenta, prior
liens, exowtsa and attornty'e fees and interast th-m=, or Obtain such insurance, and the &UMS 40 paid shall bear interest from the date of
such payment at Lim same rate set :arch in the Naw, —dah'sH 40 P. a&fionql1:e. "Mthe Pmrwrty and be Immediately dile
and payable from M ingagor to Moritageo and this Mortgage shall from date ffiereofswurethe repayment ofsuch advances with 11ktareat.
In cA-aeofdefault in. any of the foregoing covtmsaitm, Mortgagorconfem upon 9w NOrt9&M the Option Of&cWrinj the unpaid balance of
the Note and theinterwt accrued thereon, together with all giamm advancer,' hereunder, bmaAdiately due and payable without notice, and
h-ehv authotizes and mpo-weris IS OV949ce to for"at this Mortgage by judioial ppscomfings or to sail the Property AT public Auction and
convey the asyne to the purchaa6r hL fee MiMP16 in aeWrdsne,* With the &ta t UZ&, ane out Of the MVJJA63•41 9L 14LI& fX-Yul such„010 t6 '�Wq ill „u
secu*d hereby, with interest end all legal Costs and charges of iucI2 forftloaare and the maximum attorney's fee parrajttad bylaw. which
oosita. ebargas and fees Mortgagor agro" to pay.
The t4rms of this Montage shall run with the Fropatty and bind the paytios hereto and their AK-C*@WrS in intel'68t.
nq TErrowNy WHZ=p, Mmtgam I," ha=djsto nd Its hand tho day —A yar Am aba" wrflUm.
MOMAGOR
Sunrise Builders, Inc., a WnWotd
tMWW"W
Ry
Ita
STATE OF IMNESOTA AL BY Ito
COUNTY OF DAKOTA
The foregoing instrument was acknowhfted before me thin '19—
by and
thesunrise ti ars, liFL.—anti Dora 1
MinnOSOta —,onhehalfo tor
under the laws of TZ, rP0r1ttdn ---.S-0—
1:095, rjUegel, Sieben, Polk,
es & LaVerdiere
c A. Short
WeStView Drive
tjng!a, MN. N.502
2) 437-3148
FAILURE TO RECORD OR FILE THIS MORTGAM
MAY AFFECT TPE pRl()RM OF THIS MOMAGE,
t-KU11 HERTOGS LAW
TO 4235203 P.08
M=6UEn__-__ _- FormNo. 58-M-ilime.eta-C,ritbm wyr"ci„eSiub t:�, WP.nDw�u Ca�WeMYretr
No drUnquent tax(%and transfer entered;
Certificate o! Real F.rtxtr Val mc
( )flied ):sot required
- , 19—
County
County Auditor
By
UORPCA-02 PRCItg1'RY TAX DUE HEREON:
(re:erwa f&'mew" rwIs" sax Dey^ert dots) Date: January 31
THIS CONTRACT FOR DEED is made on the above date by
Sunrise Builders. Inc. .a corporation under the laws of Minnesota- _.
Seile.r,and the Uity OT KOSemWnt
Purchaser (whether enc or move).
8011 gmd P1'-o1Yaaor -tg-eo W tho following terms;
1. PROPERTY &Fo tIPTtON, Mer hereby sells, and Purchaser hereby buys, real property in
—County, Minneeats, deka;bed as follow w
See Exhibit "A" attached hereto.
together with all hereditaments and appurtenances belonging thereto (the Property).
2. TITLE. Seller warrants that titic to the Property is, on the date of this contract, subject only to the
fulruwfng e7u.^ePLivau:
(a) Covenants, conditions, restrictions, declarations and easements of record, if any:
(b) Reservations of minerals or mineral rights by the State of N inneoota, if any;
(c) Building. zoning and subdivision laws and regulatiom;
(d) The lien of real estate taxes and installments of special assessments which are payable by
Purchaser pursuant to pangrayh fr of this contract; and
(e) The following liens or encumbrances:
Mortgage in favor of Rossumt State Bank dated January 31, 1992.
recorded 1992, as Document No.
S. DELIVERY OF DEED AND EVIDENCE OF TITLE. Upon Purchasers prompt and full performance
of this contract. Seller shall:
fa) Exccatc, nckno++"Nt and deliver to 1'%=haaer a Warranty
recordable form, conveying mat-keAblt title to the Property to Purchaser, subject only to the
following exceptions;
ti; Tbe„e exceptions referred Win ppragrsph 3(a), (b), (c) and (d) of this contract:
(ii) Liens, encumbrances, adverse claims or other mamrs which Purchaser has created. svocred
or permroed to accrue after the date of rhes contraet4 and
-DEQ -11-1991 15:35 FROM HERTOGS LAW TO 4235203 P.09
(ilii The foilowiog )icon or encumbrances: None
and
(b) Deliver to Purcitaser the abstract of title to the Property or. if the title is registered, the owner's
5. PREPAYMENT, Unless otherwise provided it' this contract, Purchaser shall have the right tofully or
partially prepay this contract at any time without penalty. Any purtial prepayment shall be applied
first to payment of amounts then due under this contract. including unpaid accrued interest and the
balance shall be applied to the principal installments to be paid in the invest url'a of tbti .nawrity.
Partial prepayment shall not postpone the due date of the installments to be paid pursuant to this
contract or change the atooant of Ruch installments.
6. REAI, ESTATE TARES AND ASSESSMENTS. Purchaser shall Tray, before penalty accrues, all real
exi taxts aucl i=u, tail uk• of t y n.:al arse 4anents assessed against the Propr-Ay which are duc and
payable in the year 19-11 and in all subsequent years. Real estate taxes and installments of special
assessmcntcc which are due and payable in the year in which this contract is dated shall be paid as
follows: pro -rated as of the date of closing.
Seller warrants that the real estate taxes and installments of special assessments which were dur and
payable in the years preceding the yVnr in which this contract is dated are paid in fdl
7. PROPERTY 7W RANC:R
(a) INSURED RISE -4 AND AMOUA'T. Purchasier shall keep all buildings. improvements and
Fixtures now or later located on ,or a part of the Property insured against loss by fire, "tended
coverage perils, vanda�gi ul�113uroasal i�and, if appli,*ble, steam boiler explosion for at
leri the amount of
If any of the buildings. improvements or ftatuths arc, located in a federally designated. flood prone
area, and if flood insurance is available for that area. Purchaser shall procurt: and in untain flood
insurance in amounts reasonably satisfactory to Seller.
(b) OTHER TERMS. The irx*vramp*licy shall contain aleaspayable claustin fftvorof Seller which
prmides that Seller's right to recover under the insurance shall not bo impaired by any acts or
omis*ione of Purchaser or Seller, and that Seller shall otherwise be afforded all rights and
privileges customarily provided a mortgagee under the soealled standard mortgage cLau.e.
Sc} NOTICE OF DAMAGE. In the event of damage to the Property by firs or other casualty.
Purchaser shall promptly give notice of such damage to Seiler and the insurance company.
A. DAMAGE TO THE PROPERTY.
(a) A11F11t:,fi'fLVN uk, lBsUMVC& FROCEEDS. If the Property is damaged by Axa lit ati,er
casualty, the imenrance pall on account of much damage shall be applied to payment of
the amountspayablebv archaeerunderthiscontraet,eventfaciaamounisarenotthencittetohe
paid. unless Purchssecr makes, a permitted election deeoribedin thanextParamph. Such amounts
shall be first opplied to unpaid accrecd interest and next to the inataliments to be paid"perA ided
' o tM* ronnii in the invera +order a their maturity, Such {fa�Vtr� i shale net poel�as the due
ditto of the installments to Paid yunuAttt to !!3s temtrs or onatw � rhe amouns of w„cA
tnstal)mi The balaad of tmsaemmir pxoo++ft u aa0•, eball be fbv swe" r of'puroh""i
i),yrlicate certificate of title.
4. PUR.cHASE PRICE. Purchaoirr shall pay to Seller, at such place a Sel ler may designate
sato of
res un -SIRTeen usa a no uVf 1VU
as And for the purchase price for tree Property, payable as follows:
$50,000 in cash, the receipt of which is hereby acknowledged.
„r
$265,000.00 payable as follows:
S66,000.00, plus interest at the rate of 8% per anni in monthly
aT
installments of $2,068.20, which payments shall be due and payable
on the first day of each month commencing the first day of March,
1442. and continuing thrnugh and including the first day Of
February. 1945.
$200,000.00 plus interest at the rate of 9.5% per annum, in monthly
installments of $4,200.37 per month, which payments shall be due and
on the firnt day
i,
payable on the first day ut eash month comneri
of March, 1992, and continuing through and including the first day
of February, 1897.
Interest shall commence ort the day of this Contract. Payments
shall be first applied to accrued and unpaid interest and the baldrice
to principal.
Seller agrees that Purchaser may, at its option, pay such sums as
may be owed to Rosemount State Bank by Seller directly to ROsiethtlunt
State Bank and deduct that amount from the amount to be paid by
Purchaser to Seller.
5. PREPAYMENT, Unless otherwise provided it' this contract, Purchaser shall have the right tofully or
partially prepay this contract at any time without penalty. Any purtial prepayment shall be applied
first to payment of amounts then due under this contract. including unpaid accrued interest and the
balance shall be applied to the principal installments to be paid in the invest url'a of tbti .nawrity.
Partial prepayment shall not postpone the due date of the installments to be paid pursuant to this
contract or change the atooant of Ruch installments.
6. REAI, ESTATE TARES AND ASSESSMENTS. Purchaser shall Tray, before penalty accrues, all real
exi taxts aucl i=u, tail uk• of t y n.:al arse 4anents assessed against the Propr-Ay which are duc and
payable in the year 19-11 and in all subsequent years. Real estate taxes and installments of special
assessmcntcc which are due and payable in the year in which this contract is dated shall be paid as
follows: pro -rated as of the date of closing.
Seller warrants that the real estate taxes and installments of special assessments which were dur and
payable in the years preceding the yVnr in which this contract is dated are paid in fdl
7. PROPERTY 7W RANC:R
(a) INSURED RISE -4 AND AMOUA'T. Purchasier shall keep all buildings. improvements and
Fixtures now or later located on ,or a part of the Property insured against loss by fire, "tended
coverage perils, vanda�gi ul�113uroasal i�and, if appli,*ble, steam boiler explosion for at
leri the amount of
If any of the buildings. improvements or ftatuths arc, located in a federally designated. flood prone
area, and if flood insurance is available for that area. Purchaser shall procurt: and in untain flood
insurance in amounts reasonably satisfactory to Seller.
(b) OTHER TERMS. The irx*vramp*licy shall contain aleaspayable claustin fftvorof Seller which
prmides that Seller's right to recover under the insurance shall not bo impaired by any acts or
omis*ione of Purchaser or Seller, and that Seller shall otherwise be afforded all rights and
privileges customarily provided a mortgagee under the soealled standard mortgage cLau.e.
Sc} NOTICE OF DAMAGE. In the event of damage to the Property by firs or other casualty.
Purchaser shall promptly give notice of such damage to Seiler and the insurance company.
A. DAMAGE TO THE PROPERTY.
(a) A11F11t:,fi'fLVN uk, lBsUMVC& FROCEEDS. If the Property is damaged by Axa lit ati,er
casualty, the imenrance pall on account of much damage shall be applied to payment of
the amountspayablebv archaeerunderthiscontraet,eventfaciaamounisarenotthencittetohe
paid. unless Purchssecr makes, a permitted election deeoribedin thanextParamph. Such amounts
shall be first opplied to unpaid accrecd interest and next to the inataliments to be paid"perA ided
' o tM* ronnii in the invera +order a their maturity, Such {fa�Vtr� i shale net poel�as the due
ditto of the installments to Paid yunuAttt to !!3s temtrs or onatw � rhe amouns of w„cA
tnstal)mi The balaad of tmsaemmir pxoo++ft u aa0•, eball be fbv swe" r of'puroh""i
VDEC-11-1991 15:36
FROM HERTOGS LAW
TO
4235203 P-10
0o PURCIrl A", irk'" L-TTOV FLF I CO RESTI.D. if Purrhaser ir. ^(,t in defaull
, in -.%n, VA6Y MOrUML". "'Id StAlOrK M
-h and if %1- r"Orti'"t"" h,,%swr inay %.W�ct
eurini: �%riv ;u� .;rc T'uxl
tl—t.- .— i. M —,V. tof-1— P�,i. --$o
Kurnncev -XW : r, replace or t --tore t1w 'Im maz^d 11 rmwrly Rue T. 41
rd;)a -i . f
trieg Tnpany qualified todobur -14"'n theS'
&Posited 0) -et on
MSLV bp mutually nruteAble to seller and Vurehas—wr.'rhe et — i
cetoSellp
,r within �6jxtv d*-$ after thacts age O�cuw. Al2to. th
may only W Cnakic by smitten Doti orlhe repair work are
I ' '
4riection will only be I permitted if the plans and s ftcaavri%WWcM0
&pMved by briler, WWCh SP17m"'al Salle' shall not "tu:oOono%lv withholA eff delay. If such a
a made by Purchaser, Seller and Purchaser than jointly deposit, when PaW-
perraitted election i If such ineur
such insurance Pycceed.-5 into such escrow, ance proceeds V0 inaufficiimt for the
repair work. sur shall, before thew,
of the repair work,
deposit into such
Purcha vorit. Even if the
ient additional money to insure the full payment for the repairy re . work.
escrow Soffit BAriont to P27 the m" at the re work insurance proceeds are unavalW61c cc mv 'np*,uf'th, full cost of the repair work.
Purchaser Shan at all times be responsible to ' h generally accepted sound
funds shalt be disbursed by the escrowee in accordance wit mnrad an account of such
construction disbursement procedure*. The casts incurred or to be mi�
into such omw Won the corarmneement of the repaiT
c -crew ab all be deposited by Purchmer and
Lir wart- Am soon at ft -ow'" ably possible "drain a good
work Purchnavi: 0-11 comPlOte he `Pc repair, work shaIl be completed by Purchaser within
workmanlike manner, and it any event the �e repair work,
one year after the d,, Me Occurs. If, following the completion of and paymnt: forthe t of the
such funds shall be applied to psymon
there remlift any undiffbursed escrow funds
wpquate payable by Purchaser wider this contract in accordancx with pwagrAPh 8 (a) above -
r. INJURY OR DOMACS OCCUMNO ON T3M PR0PrTrr*r. for damages by reason of injuries
(a) LIASTLITT, Seller shall be free from ljobility and claims )rowrty urbile on orabout
occurringonorafter-thedattof thiscontrlidtO any person orpersonsorl , - loss, costs and
the Property. purrhaxer shall defend and indemnify Seller from all lifthility ysuchirijuriea.
obftstiow such injuries which are.
rwohAmar shall hover. nn liability or obligation to Seller for
w or intentional wronsdal etcw or omissions of Seller• caused by tile neg I om damage
and maintain
(b) LIABILI - 6nANCE. Purchaser shall, at purchwer S 0' ring on or
'i�Y, death sTlid Property a=sge Occu .
liability insurance against. elginis for bodilf, irJ m g ,41jer or, an
about the Property in amounts reasonaby satisfactory to Seller and DIMM .
additional inpur+A insurance which Purzlinser is required to procure and maintain
10. INSURANCE, GENERALLY. The orcomParkles
9 of this contract.
,hall be issued byanirtsuumcewmPany
pqr%uant to paragraphs 7 and ?Uer, The sance shall he
licensed to do busines, in the State of Iftnegota and Aimvt6lt under itnhir, urcontract, The
maintained by Purchoer at all times while any amount remains unPsid ellation,
Sys written notice to Seller 1:itfOre cRnc
inv—" "lirim shall provide for notleff tb*n tend . plicalk
non -renewal, termination or change in coverage. and ?=haw shall deliver in SvUvr "
original or certificate of such insurance icy or policies. Wdon proceedings instituted
in cOndev"
11, WNDEMNATION. If all or any part oft cproper"ta
iveyedin Bra thereof undtrthreatof condemnatiori, the monirY
under power of eminent domain or in am ce in liev thereof shall be applied th psymer; t of the
vaid pursuant to such condemnation or convcy0n, lit ... ounta are V.0 than duo paid..
.t "'0. ir .;
amounts payable by Furchns" under thiS "Mr2c , st and next to the installments to be Paid
Such amounts shall be applied 6TFxt to unpaid accrue dintere 5r, Such paymsnishan not postpone the
this contract in the inveras order of1h&mAt11Tit
as provided in on*.nts to be paid pursuant to this contract or change the amount Of such
Sue date of the insts. y, shall be the property of Purchaser, -v l"llilding%. im.
installments.Thebalance, if an olreravve or JAMOlish it, L
12,WMFrE, RhFAIR AND LIST43- pumiltxvv; shall u7 nor sliall Purchmr.r commit or
provementsor Oxtures no- or later located on orapattrif the Props v,. in good condition and repair.
.h#,er shan mairstait the Property
allow waste of the Property. Pur ,it, to acme liens or adeygie claim* against the Property which
FurchAmer shall net create or per . in the. Property, Purchaser nhall Pay to 9eller all
constitute a ]iem or claim against Seller's interest_ ottorasyl, few, T"el1rhod by C;er!er to MlnOve SPY
amounts, costs arts
such lien; or adverse claims. er of thi.
13, DEED AND MoRTGAGF REGV,,,rRY TAXES, Sell0ahall. upon Pgrchas 's full performance S
thea tax due upon the recording or filing of the deed to be delivered by Seller to
contract, PAY contract shall be pard by
purchgo5er.,17h e mortgage registry tax due upon the recording or filing Of this irt eri lit f Iler
^ ps, h L, 9 Se
the party who records uE fit -t. this contract; however, WO Provision shall " tim Pp able
iser the amount of much tax actually paid by;&1ler as provided in the a lic
to collect from Purchs !act,
law governing default and service of notice of termination of tilig contract.
I R COPY
14. NOTICE OF ASSIGNMENT, TfeitherSeller or Purchaser asimigus their interest in the Property,
promptly be furnished to the "on—Signing party. '
sum of money reawred under the terms
of much assiffninent'hRU ;*ST9.li*Purchagarfpvt4fmrmysk"y set.5riler
1.5. r2tormcm0i; or INTVFX wer,s obligations as M forth in this
fails to perform any of Purcb, . tontr
of thin contract or performed, or both. and the amounts so
Seller 5 nptiom pay the same or muse the same to I with interest at the. rate stated
and the cost Of such performance shall be payable at Once ct
Or. In additional amount due Seller under this cOntrA
p2dll�scontract,cme, any mortgage. contrActfOr
iP P. 4 of this
Tfthem now cxiEtn. or if . oomflAr mrAte.k. ituffers it
its
to sc - 31y assumed by 1,urcbaser.
deed, lien or c.ricumbrance Against the PropertY which is not herein exPm mounts clue
default under this contract. Seller shall timely Pay all a
and provided Purchaser it not in May, at purchaw,$.t option. pa*, any such delinquent
thereon, and if Seliqr fails to do so- Pu=haw coming due upder this contract.
OurLta paid from tbt installment(s) next c011 I essential parlg`
amounts and deduct the am erm
DrF*T.l7.T T%p smo of perforrasnou 1W Purchaser Of the t a of this contract in &I
t. Should purchaser -,tall toiimelyperform any of the teTrasOl this contract, Seller ulau—n
th L-� contrac onea and terminated by notice to Purchaser in
—90wex"M elect to declare this contract can tract I menta
accordance with applicable law. All riitht, t:ztle and interest acquired under this con
shall then cease and terminate. and all improvements Triade irpon tho Property and all PaYments Made
r,mr.Awrit to this contract shall belong to Seller as liquidated damages for breach Of this
by Purchaser a of nlomy tv tw paid hwrtftdcr nor
con tract. Neither the extension Of the time for P3xyment Of any sur J by reason of any ln�h shall in
ony waiver b%,Seller of gellr.rls rights toactlarethiscartractforfeite, isubmuentlyoccurring.und
pidbecauseafliefirul 4aefault and
anvmanntrr,�f�q service of notice of
. Seller's right to cancel this contv
no*fKtenA,*n of time sh" be valid unless agreed to in writing. After de-
fa2lun to care such defaultmithin the period allowed by law. Purchaser shall, upon demand
Rurenor KI
possession Vfthr
, Property to beller. but Purchaser shall be vA1UtA*d to PoamveiOn Of the Proparty
the expiration of such peiod. retuand
1'. BIN -DING EFFECT. The terms Of this contract shall run with the land and bindthe parties tie
their successors in interent.
uC�.-11-1�y1 1t>:37 FROM HERTGGS LAW TO 4235203 P.11
16.
HE,. r)Iti G5. Headitage of the paragraphs of thio conz act are for nanuenience Doty anu a0 n•,:. nrnnt:.
limit or ccnftrua the tontents of ruck paragropt'e-
1 . n ? Rs }ilv� rc El' (.;tiVti F.P.S' e1S5t K i,1Tlt)ir. if the Property is suhjert to a rer.orded :iecinrntior
onw,r11'v for •,.cr's-rrn Lk to be fe�'il!4 against thr Property' by pn uNC("g tt�,itrrlAtilln. �•4•.it•::
:tK�ey snentz 1-.::• : r rr se a lit" ;:Kaingt the Property a not paid, tben:
OR) other goeF n:il:st '-,Ay as re4vit'cd brnrnpdy pay, y thee. all y. provisions of the derl lois or ther reiated dnrumrntg:
and
(b! Mended cw •ero=ge pens d sumac oathsgr haaasxmmter or ft d in sotih a et uooua slaw a" roquvisurance i" b r ti
contrAct, then:
(i) Purchaser'* obligation in this contract to ruaintain haraed inRut'ancc coverage on the
Property it satisfied: and
(ii) The pm islons in Paragraph B of this cotttretcti regarding application of insurance proceeds
*hail be s¢peroded by tin, VLVVWV"V WE liar a1Aia 4%"n or Other ro&wd cl,r+„mnntae; and
(W) In the event of a distribution 6f inaursnceprootedsia lieu ofrestoration or sepairfollowing an
insured casualty lose to the, such proceeds paveble to Purchaser are hereby
atesiSned and shall be pard to Steil for apPlicaWn to the sum secured by this contract. with
for txcees, if any, paid to Purchastr.
20: ADDITIONAL TERMS:
Notwithstanding any provisions of the contract Or any lax to the contrary,
Sailartt tniP remedy in the event of default shall be statutory Cancellation
of this Contract for Deed.
SELLER PURCHASERS)
Sunrise Builders. Inc. The CiU or Kosessonni
By
By
IM
State of Miataetaota #
County of DAKOT
The foregoing iaatmmsnt was aeltnewled* before ,xtr this _.—day of 1Q
by hd unr se Wildgft, InC.
LIN and . of
a gthe laws of M1nneso
on bchatf of Me
nc AT4R.@ . r .w, w rra .. AR RiL Qrl7t: AL
i [
State of Minnesota
County of DAKOTA
The foregoing instrument—R acl= ted beforeme thiN —da3 M art 19
by f tPi@ Cit t1f R4settlou a n G a ra wn, an a o
M,rAR1Ai.!.TAMY VA,ttL/ti. tOR rjY,aFRTiTiL CR!RANIt1
MATUR Or MARY reaLm caumm VY IAL
� tLt glitalaS,Rita'llk ftna PlatrlYdtrtrhed rt1tiY16 M¢11vRbnt a9p,kf 0e,CMio.
The City of Rosemount
�-+x VbMNTwMmu. *%-:NAAMA"A •+e"I" 2$79 10,th Street }test
f Rosaaunt, MN. 55066
Hertggs, Fluegel, Sieben, Polk,
Jones b LaVerdiere
Eric A. Short
994 Westview urtve
Hastings, MN. 55033
(612) 437-3148
FAILURE TO RECORD OR FILE THIS CONTRACT FOR DEED MAY GM 07WER PARTIES
p,uoxrr,r ovra F URCRASER's INTEREtwr ZN THZ PROPM TY.