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HomeMy WebLinkAbout02- 42 Real Est Sale - Norex Doc. No. A 551522 OFFICE OF THE COUNTY RECORDER SCOTT COUNTY, MINNESOTA Certified Filed and/or R _.. ~ _ J on 0EH)5-2002 at 03:45 Receipt: 187201 Pat 8. ,.., "n. Counly Recorder 01 Fee: $20.00 -- --------------- / : ~tate Deed Tax Due: ~ WARRANTY DEED (Corporation to Individual) I Jate: June 5. 2002 =OR VALUABLE CONSIDERATION the CITY OF PRIOR LAKE, a Minnesota municipal ,:orporation, Grantors, hereby convey and quitclaims to RONALD L. HABERKORN and tANDRA J. HABERKORN, husband and wife, real property in SCOTT County, Minnesota, fescribed as follows: That part of Lot 1, Slock 2, WATERFRONT PASSAGE ADDITION, described as follows: Commencing at the southeast corner of Lot 2, Slock 2 of said plat; thence South 89 degrees 49 minutes 16 seconds East plat bearing along the south line of said Lot 1, Slock 2, a distance of 100.52 feet to the point of beginning of the land to be described; thence North 00 degrees 10 minutes 44 seconds East parallel wIth the east line of said Lot 2, Block 2 and its northerly extension a distance of 412.60 feet; thence North 39 degrees 03 minutes 21 seconds East a distance of 265.01 feet to the northeasterly line a distance of 351.36 feet; thence South 39 degrees 03 minutes 21 seconds West a distance of 265.07 feet to the Intersection wIth a line drawn North 00 degrees 10 minutes 44 seconds East from a point on the south line of said Lot 1, Slock 2, distant 287.78 feet west of the southeast corner; thence South 00 degrees 10 minutes 44 seconds West along said line a distance of 208.30 feet to said point; thence westerly along the south line of said Lot 1, Slock 2 to the point of beginning. f).L) 'J.q {p66J-O together with all hereditaments and appurtenances. / · 1?5 \laid Doed-rIllL'f8- I ,uj I ' No. '1';.'-,,) . ~ ~ Conservation Fee Paid ~ ~ County Treasurer I C heck box if applicable: ) : The Seller certifies that the Seller does not know of any wells on the described real property. [ ) A well disclosure certificate accompanies this document. C) I am familiar with the property described in this instrument and I certify that the status and number of wells on the described real property have not changed since the last previously filed well disclosure certificate. --- - - - - GRANTOR: CITY OF PRIOR LAKE (oi'~1 ton$J..O:fI~'" f;,... ..f1..15 STATE OF MINNESOTA ) )ss. C )UNTY OF SCOTT ) T~'S in strument was ack.no.wl.e dg.ed before me on June 5, 2002 by Jack G. Haugen and Frank Byles, respectively the Mayor and City Manager of the City Prior Lake, a Minnesota m nicipal corporation, Grantor, by and through the authority gra y its City Council. ,. .~~i- u_:r~:~'~~~-~~."~c<e.4 ' . NOTARYPU8UC.f/.INIiE5C;A I . . \A"~ _~~~nfx;l"~:::_~~~~~J N6tary fotJblic 'I Check here if part or all of the land is Registered (Torrens) 0 ~~ Jac.lU3lHaugen, M ru 1f4:>, x n liS INSTRUMENT WAS DRAFTED BY: C~' of Prior Lake 16 00 Eagle Creek Avenue S.E. P or Lake, MN 55372 (6' 2) 447-9803 (kgm) Tax Statements for the real property in this instrument should be sent to: Ronald and Sandra Haberkom 6500 Smithtown Road Excelsior, MN 55331 ,:.., F-. - W June 24. 2002 Mr. Rc nald Haberkorn 6500 : imithtown Road Exceltior. MN 55331 Via On.Time Courier ! Re: Purchase of 4.17 Acre Waterfront Passage site Dear I M. Haberkorn: Congl3tulations on the purchase of your new site. The City is excited about your plans and looks forward to maintaining Norex Corpc ration as a part of the Prior Lake business community. As yo., know, there was little in the way of paperwork for this transaction. The Purchase Agreement (authorized by the City Coum if at its May 6. 2002 meeting) required the City to provide an Abstract of Title for the parcel, and well as pay any outsta lding special assessments. Enclo:ed you will find the Abstract of Title for the parcel, as well as a receipt for the Abstract, which you should sign and return to me in the postage-paid envelop I've provided. Also enclosed is a copy of the Warranty Deed I filed with the Scott County Recer jer on June 6, 2002. Once I have received the original recorded document back from the County, I will forward it to you for yo ir file. Lastly, enclosed is a Special Assessment Payoff Certificate which has been forwarded to the County showing thatth, balance of the special assessments on the site have been paid. If you lave any other questions or need further assistance, please feel free to contact me directly at (952) 447-9801. Good Luck with y'lur project! Sihd( Kelly Meyer, E~ve Secretary cc: Frank Boyles, City Manager Tom Ditty, Norex Corporation (w/enc.) 16200 Eagle Creek Ave. S.E. Prior Lake. Minnesota 55372-1714 / Ph. (952) 447-4230 / Fax (952) 447-4245 AN EQL'AL OPPORTUNITY EMPLOYER ~ 'IEETING DATE: j ,GENDA #: )'REPARED BY: +GENDA ITEM: ~)SCUSSION: I CITY COUNCIL AGENDA REPORT MAY 6, 2002 IOC DONALD RYE, COMMUNITY DEVELOPMENT DIRECTOR CONSIDER APPROVAL OF RESOLUTION AUTHORIZING EXECUTION OF PURCHASE AGREEMENT FOR THE SALE OF 4.17 ACRES OF LAND IN THE WATERFRONT PASSAGE BUSINESS PARK Historv The City developed the Waterfront Passage Business Park and the first parcel was developed in 1993. Since then, all but one of the parcels has been developed. The sole remaining parcel has an area of 4.17 acres and is zoned C-5, Business Park. Current Circumstances Earlier this year, staff learned that Norex Corporation was considering either the expansion of their present building at Franklin Trail or construction of a new building on another property. Staff contacted Norex to determine what assistance the City could provide in helping them make their decision. After some discussion, Norex decided the Business Park location would work for them and a purchase agreement (copy attached) was drafted. Norex has signed the purchase agreement. Issues The issue most likely to be raised is the price of the property. The City offered the property to Norex for one dollar. This is different from the other land sales in the Business Park. These were all TIF districts and the effective purchase price of these properties was in the vicinity of $1.25 per square foot. The proposed price of $1.00 was considered justified for the following reasons: . Substantial soil correction on the site will be necessary. Staff estimated the cost could be as high as $170,000. . The sale does not involve the establishment of a TIF district. As a result, the taxes paid by the property will be immediately available to the City. In the case of the other properties in the Business Park, the life of the TIF districts is II years, during which time no taxes are paid to the City. . The sale serves to keep a valued business in the community. 162~ (jl~gfe"~If~d~~~1l"i'l\'J\''i!:a\\'e, Minnesota 55372-1714 / Ph. (952) 447-4230 / Fax (952) 447-4245 AN EQUAL OPPORTUNITY EMPLOYER A~ TERNA TlVES: Rf;COMMENDED ~OTION: I $VIEWED BY: . The existing TIF districts in the Business Park are providing adequate funds to payoff previously issued City bonds to extend streets and utilities to the Business Park. Accordingly, approximately $42,000 in special assessments against this parcel will be forgiven as part of the City's incentive to the project. Cnn~ln<;{"l Staff believes the sale of the property is in the best long- term interest of the community. The attached purchase agreement was prepared by staff, has been reviewed by the City Attorney and signed by the Haberkorns. 1. Authorize execution of the purchase agreement 2. Do not authorize execution of the purchase agreement 3. Continue consideration of this item for specific reasons Alternative I r ~J I;J ~ Frank ~ Ci manager y:I02FILESI02edalccagendanorexpurchaseT.doc 2 REAL ESTATE PURCHASE AGREEMENT , i THIS AGREEMENT ("Agreement") made and entered into this day of i ,2002, by and between RONALD L. HABERKORN and SANDRA J. HABERKORN, husb~nd and wife, whose address is 6500 Smithtown Road, Excelsior, Minnesota 55331 (referred to herei as "Buyer"), and the CITY OF PRIOR LAKE, a Minnesota municipal corporation, whose address is 16 00 Eagle Creek Avenue SE, Prior Lake, MN 55372 (referred to herein as "Seller"). ! I IN CONSIDERATION of the mutual covenants and agreements herein, it is hereby mutually agree~ by Seller and Buyer as follows: , I SECTION 1. SALE AND PURCHASE OF LAND 1.1) Seller shall sell to Buyer and Buyer shall purchase from Seller, upon the terms and conditions herec f. the following property) all collectively referred to as the "Subject Property"): 1.1.1) The vacant, unimproved land in Scott County, Minnesota, legally described on Exhibit "A" attached hereto and incorporated herein, together with all right, title and interest in and to any roads, alleys or right-of-ways adjoining or servicing such land, along with easements appurtenant thereto. SECTION 2. PURCHASE PRICE 2.1) The purchase price for the Subject Property ("Purchase Price") shall be One and no/100 Dollars ($1.00) payable by Buyer to Seller on the date of closing. SECTION 3. TITLE MATTERS 3.1)! Seller shall furnish to Buyer within twenty (20) days hereof a current commitment for the issu,nce of a 1987/1990 AL T A Form B owner's policy of title insurance ("Commitment") issued by a Title. nsurance Company acceptable to Buyer ("Title") in the amount of the Purchase Price, committing to in$ure that Buyer will have good and marketable title to the Subject Property, free of any and all stan~ard and other exceptions to title, except matters to which Buyer may consent in writing. 3.2)! In the event any exceptions are listed in the Commitment for title insurance other than accepted by S~lIer hereunder, the Seller shall promptly cause the exception to be removed. If the Selier fails to remdve the same within the time allowed for closing on the Subject Property, the Buyer (at Buyer's optior) shall have the right to: (a) terminate this Agreement; or (b) cause the exception(s) to be remqved and credit Buyer's cost to remove the exception(s) against the Purchase Price. I I :lAg rtemntlP A-No rex. DOC -L..____ 1 SECTION 4. CLOSING 4.1) i The closing ("Closing") shall be at a location designated by Buyer, and shall occur within ninety (90) ~ays after the execution of this agreement ("Closing Date"). 4.2) I On the Closing Date, Sellers shall deliver to Buyer possession of the Subject Property. Sellers shail not remove any dirt, trees. shrubs, or other natural growth, except as is necessary to keep the Subject Property in a neat and orderly condition. ! 4.3) I On the Closing Date, Sellers shall execute and deliver to Buyer: 4.3.1) A duly executed Warranty Deed, subject only to the exceptions consented to by Buyer in writilg; 4.3.2) A customary affidavit that there are no unsatisfied judgments of record, no actions pen ling in any state or federal courts, not tax liens, and no bankruptcy proceeding filed against Seller, and no labor or materials have been furnished to the Subject Property for which payment has not been mac e, and that to the best of Seller's knowledge there are no unrecorded interests relating to the Sub lect Property; and 4.3.3) A certificate on a form acceptable to Buyer that all of the covenants, representations and war 'anties of Seller as set forth in Section 5 are true and correct as of the Closing Date. 4.3.4) The Abstract of Title to the Subject Property, if the Subject Property is Abstract property and the Abstract is in Seller's possession or control. 4.3.5) Well Certificate. If there is a well located on the Subject Property, a Well Disclosure Cer :ificate signed by Seller in the form required by law. 4.4: Seller shall pay at Closing all general real estate taxes levied against the Subject Property due and payable for all years prior to the year of Closing, the balance of all special assessments levied or per ding against the Subject Property as of the Closing Date. and any deferred taxes. Seller shall pay all . he general real estate taxes levied against the Subject Property due and payable in the year of Clo ;ing. Buyer shall not assume the unpaid balance of any special assessments. 4.5 Seller shall pay at Closing: 4.5.1) state deed tax; 4.5.2) all costs of updating the abstract of title and all costs associated with obtaining a title ins~rance commitment, including name searches, tax searches, bankruptcy searches, and property insil>ection fees; i : 4.5.3) recording fees for corrective instruments required to remove encumbrances and place marketable title in Buyer's name; 4.6~ Buyer shall pay at Closing: 4.6.1) all recording fees and charges relating to the filing of the Warranty Deed; 4.6.2) title insurance premiums; and I:\A! reemnt\PA-Norex.DOC 2 4.6.3) the closing fee charged by Title Company. SECTION 5. COVENANTS, REPRESENTATIONS AND WARRANTIES OF SELLER 5.1) Seller, as an inducement to Buyer to enter into this Agreement, and as part of the consideration therefe f. represents, warrants, and covenants with Buyer and its successors and assigns that: 5.1.1) There are no leases, options, purchase agreements, rights to redeem, tenancy agreer nents, or rights of occupancy, written or verbal, and no person or party has, or will have any rights )f adverse possession, regarding or arising out of the occupancy of the Subject Property. 5.1.2) Sellers will maintain in force insurance against public liability from such risk and to such limits 3S in accordance with prudent business practice and suitable to the SUbject Property from the date r ereof to the Closing Date; 5.1.3) As part of this agreement, Sellers shall execute the well disclosure certificate attached he rete as Exhibit "B". Sellers Shall deliver the well certificate to Buyer on the date of execution of this agree nent. Sellers warrant that all statements set forth in the well certificate are true, accurate and camp ete to the best of Seller's knowledge. 5.1.4) Seller represents and warrants to Buyer that Seller has the requisite of power and autho'ity to enter into this Agreement and the Seller's Closing Documents to be signed by Seller; that the e: :ecution, delivery and performance by Seller of such documents do not conflict with or result in violati on of any judgment, order, or decree of any court or arbiter to which Seller is a party; and such docur lents are valid and binding obligations of Seller, and are enforceable in accordance with their terms. 5.1.5) Seller owns the Subject Property free and clear of all encumbrances, liens, covenants, condi .ions, easements, restrictions, reservations, and assessments, except those exceptions conSE ,nted to by Buyer in writing. 5.1.6) Seller has received no notice of actual or threatened special assessments or reas~essments of the Subject Property. I I 5.1.7) Seller is not in default in the performance of any of Seller's obligations or liabilities under any E ,asement agreement, covenant, condition, restriction or other instrument relating to the Subject Propllrty. I I 5.1.8) Seller is not a "foreign person", "foreign partnership", "foreign trust", or "foreign estate" as th Jse terms are defined in Section 1445 of the internal Revenue Code. 5.1.9) There is no action, litigation, investigation, condemnation or proceeding of any kind pend ng or, to the best knowledge of Seller, threatened against Seller or the Subject Property. I 5.1.10) Seller certifies that Seller does not know of any private sewer system on or serving the SubjEjict Property, nor have any been installed or removed during Seller's ownership of the Subject Prop~rty. 5.1.11) There are no encroachments or boundary line issues affecting the Subject Property. I :lAg r<emntlP A-Norex. DOC 3 5.1.12) The Subject Property abuts on and has direct vehicular access to a public road or has drivew lY access to public roads by permanent, irrevocable easements which will be conveyed to Buyer on the date of closing, and Seller has no knowledge of any fact or condition which would result in the termin'ltion of such access. 5.1.13) The Subject Property is served by the foilowing public and private utility services: electri!:, gas, storm sewer, water, sanitary sewer and telephone, all of which services are available in adequ lte capacities to properly service the Subject Property Seller has received no notice of actual or threatuned reduction or curtailment of any utility service now supplied to the Subject Property. All utility lines teach the boundaries of the Subject Property through public rights-of-way or valid private easer1ents, the interest of Seller in which shall be assigned by Seller to Buyer on the Closing Date. i 5.1.14) Seller has no knowledge of any defects in the physical condition of the Subject Property, excep. as follows: soil correction mav be necessarv for the site to be fullv develooable 5.2) The covenants, representations, and warranties contained in Section 5 shall be deemed to benef t Buyer and its successors and assigns and shall survive any termination or expiration of this Purch 3se Agreement or the giving of the Deed. All of Seller's covenants, representations and warra lties in this Agreement shall be true as of the date hereof and of the Closing Date, and shall be a condi'ion precedent to the performance of Buyer's obligations hereunder. If Buyer discovers that any such ~ovenant, representation, or warranty is not true, Buyer may elect prior to closing, in addition to any cf its other rights and remedies, to cancel this Agreement, or Buyer may postpone the Closing Date Jp to ninety (90) days to allow time for correction. SECTION 6. ENVIRONMENTAL INVESTIGATION AND SOIL CORRECTION 6.1) Buyer may perform such inspections of the Subject Property as Buyer, in Buyer's sole discrution, deems appropriate (the "Inspections"). The Inspections shall be done at Buyer's sole cost and ~xpense. Buyer and Buyer's agents shall have the right, at all reasonable times, to enter upon the SUbjE ct property to perform the Inspections. 6.2) Buyer shall give Seller not less than 48 hours' advance notice of any Inspection. Buyer shall atterr pt to perform all Inspections Monday through Friday during normal business hours; provided, hOWE ver that Buyer may inspect rooming units which are not accessible during normal business hours on e' 'enings or weekends, and Seller and its agents shall assist Buyer in obtaining access to such units Seller shall be entitled to have a representative accompany Buyer's representative at all times. Buye' shall indemnify and hold Seller harmless from any damage or destruction of the Property or phys cal injuries occurring as a result of Buyer's acts while conducting Inspections. Buyer agrees not to di ,close any information concerning the Subject Property to third parties except those parties prep, Iring reports or tests as part of its Inspections, and then only to the extent necessary to prepare such reports or tests. 6.3) The parties acknowledge that the Inspections provided for herein should provide Buyer with full and ldequate opportunity to inspect the Subject Property and will thoroughly acquaint Buyer with its cond tion. Accordingly, if and when Closing occurs, Buyer shall take the Subject Property "As Is" and "WhEre Is," with all faults and defects, if any, except as specifically set forth in this Agreement. Seller has not made and does not make any representations as to the physical condition, expenses, oper ltion or any other matter or thing affecting or related to the Subject Property, except as specifically set forth in this Agreement. Buyer agrees to indemnify and hold Seller harmless from and against and 1:IAgn ,emnIIPA.Norex.DOC I 4 to re mburse Seller with respect to any and all claims, demands, causes of action, losses, damages, Iiabil ties and costs (including attorneys' fees and court costs) asserted against or incurred by Seller by reaSlln of or arising out of the physical condition or operation of the Subject Property subsequent to the Clos ng Date, except to the extent that the same are proven to have been incurred as a result of a brea:h of any representation or warranty of Seller as set forth in this Agreement. In particular, Buyer agre"s to hold Seller harmless from any claims arising out of the soil conditions of the Subject Pro~ arty. SECTION 7. CONTINGENCIES The Jbligations of Buyer under this Agreement are contingent upon each of the following: 7.1) The representations and warranties of Sellers set forth in Section 5 of this Agreement must be true as of the date of this Agreement and on the Closing Date, and Sellers shall have delivered to Buyqr at Closing a certificate dated the Closing Date, signed by Sellers, certifying that such repr lsentations and warranties are true as of the Closing Date; 7.2) Buyer shall have determined on or before the Closing Date, that it is satisfied, in its sole disc 'etion, with the results of the environmental/soil investigations and tests, and any subsequent rem ldiation of the Subject Property. 7.3) Buyer is satisfied in its sole discretion with the results of any survey performed by Buyer, or veril ication of the Seller's Survey, the cost of which is to be assumed by Buyer. 7.4)1 Tilie shall have been found acceptable, or been made acceptable, in accordance with the reql irements and terms of this Agreement. 7.5)1 Seller shall have performed all of the obligations required to be performed by Seller under this Agr~ement, as and when required by this Agreement. 7.6) Inspections. The results of the Inspections shall be satisfactory to Buyer, in Buyer's sole disc ,etion. , 7.7)1 Buyer shall have satisfied itself, in Buyer's sole discretion, that water and gas main, electric pOVl1er lines, and sanitary and storm sewers are available at the property lines and adequate for Buy~r's proposed use of the Subject Property. , , Wili, the exception of the contingencies set forth in Sections 7.1, 7.4 and 7.5, which shall remain in forc" until the Closing, if any of the remaining contingencies have not been satisfied by at least seven day~ before the Closing Date, the Buyer may, at Buyer's option, terminate this Agreement by giving wntjen notice to Sellers. Upon such termination, neither party shall have any further rights or obli~ations under this Agreement. The contingencies are for the sole and exclusive benefit of Buyer, and! Buyer shall have the right to waive the contingencies by giving written notice to Sellers. SECTION 8 MISCELLANEOUS 8.1)1 The covenants, representations, warranties, indemnifications and, to the extent applicable following the Closing, obligations, made by Seller shall survive the Closing of this transaction. , , . I :lAgreemntlP A-No rex. DOC .--L-."_________~____~.~,_______.__._ 5 8.2) IAny notice, demand, or request which may be permitted, required or desired to be given in conne~tion herewith shall be in writing and sent by certified mail, hand delivery, overnight mail service such ~s Federal Express, or Western Union telegram or other form of teiegraphic communication, directE1d to Sellers or Buyer. Any notice shall be deemed effective when delivered to the party to whom it is dilected. Unless other addresses are given in writing, notices shall be sent to Sellers or Buyer at the ap Jlicable addresses stated on the first page of this Agreement. 8.3) Time shall be of the essence in this Agreement. Where any date or time prescribed by this Agree~ent fails on a Saturday, Sunday or statutory holiday, such date or time shall automatically be extenged to the next normal business day. . 8.4) i Each party hereto shall promptly, on the request of the other party, have acknowledged and delive! ed to the other party any and all further instruments and assurances reasonably requested or approl lriate to evidence or give effect to the provisions of this Agreement. 8.5) This Agreement represents the entire agreement of the parties with respect to the Subject Prope iy and all prior agreements, understandings or negotiations between the parties are hereby revokyd and superseded hereby. No representations, warranties, inducements, or oral agreements have 1 been made by any of the parties, except as expressly set forth herein, or in other conte/nporaneous written agreements. This Agreement may not be changed, modified or rescinded, exce~ by a written agreement signed by both parties hereto. , , 8.6) i If Buyer defaults under any of the terms hereof, the sole remedy available to Seller shall by the cancdllation of this Agreement. I 8.7) ~! If Seller defaults under any of the terms hereof, including, without limitation, the delivery of mark table titie to the Subject Property as set forth in Section 4 hereof, then Buyer shall have the right to pu sue any remedies that are available to Buyer at law or in equity, including without limitations, speci ic performance and damages (including attorney's fees), and to the cancellation of this Agre ment. 8.8) · If any provision of this Agreement is declared void or unenforceable, such provision shall be deem:ld severed from this Agreement, which shall otherwise remain in full force and effect. 8.9) Failure of any party to exercise any right or option arising out of a breach of this Agreement shall lot be deemed a waiver of any right or option with respect to any subsequent or different breach, or thE continuance of any existing breach. , , 8.10) i This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respe:lctive heirs, personal representatives, successors and assigns. I 8.11) This Agreement shall be construed in accordance with the laws of the State of Minnesota. IN W TNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first abovl' written. I 1 1:\A9rttIPA-NOreX.DOC 6 By: i Jack G. Haugen, Mayor Lpj~,^- Ri'>nald L. Haberkorn ,Ll'~~ul Sandra J. Haberkorn SELL~R: CITY <pF PRIOR LAKE By: ! Frank Boyles, City Manager STAT~ OF MINNESOTA , , COUNJTY OF SCOTT I ) )ss. ) The ~oregoing instrument was acknowledged before me this day of I . by Jack G. Haugen and by Frank Boyles, respectively the Mayor and City Manager of the CITY 'OF PRIOR LAKE, a Minnesota municipal corporation, on behalf of the corporation and pursuant to the authority granted by its City Council. Notary Public STAiE OF MINNESOTA ! COU~TY OF SCOTT ) )ss. ) The ff-regoing instrument was acknowledged before me thiS~ day of .J..1~'j r;2()()j:;2... . by Ronald L. Haberkorn and Sandra J. Haberkorn, husband and wife. 1 ~~/h ~ ~{lJ-~\ N6tary Public 0 I , Thisnstrument drafted by: CITY OF PRIOR LAKE 1620) Eagle Creek Avenue SE Prior ,Lake, MN 55372 Tele8hone: (952) 447-4230 ~"J\^^^AAN""y"ti~ <,4l::~ KRISTEN JEt., ~ARPEL ~G ~Otil~ '1:,,:. ',<in nesota . "" CommISSlO!' t Jff"ros tJ31f2(XJS v'VY"VV'1lY\f"VVVIi~\t'Yvv I :lAg r1emntlp A-Norex. DOC 7 EXHIBIT "A" Legal Description That part of Lot 1, Block 2, WATERFRONT PASSAGE ADDITION, Scott County, Minnesota, described as follows: Commencing at the southeast corner of Lots 2, Block 2 of said plat; thence South 89 degrees 49 minutes 16 seconds East plat bearing along the south line of said Lot 1, Block 2, a distance of 100.52 feet to the point of beginning of the land to be described; thence North 00 degrees 10 minutes 44 seconds East parallel with the east line of said Lot 2, Block 2 and its northerly extension a distance of 412.60 feet; thence North 39 degrees 03 minutes 21 seconds East a distance of 265.01 feet to the northeasterly line a distance of 351.36 feet, thence South 39 degrees 03 minutes 21 seconds West a distance of 265.07 feet to the intersection with a line drawn North 00 degrees 10 minutes 44 seconds East from a point on the south line of said Lot 1, Block 2, distant 287.78 feet west of the southeast corner; thence South 00 degrees 10 minutes 44 seconds West aiong said iine a distance of 208.30 feet to said point; thence westerly along the south line of said Lot 1, Block 2. to the point of beginning. 1:\Ag:tmntIPA-Norex.D.OC --- 8 May 2, 2002 Mr. Tom Ditty NOREX Inc. 15815 Franklin Trail SE Prior Lake, MN 55372 Dear Tom: Enclosed for your files is a copy of the City Council Agenda and Report for Monday, May 6, regarding the authorization of the Purchase Agreement for sale of the land at the Waterfront Passage Business Park. If you have any questions, don't hesitate to call. Sincerely, Go 0l~ Connie Carlson Planning Department Ene. 162~0 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (952) 447-4230 / Fax (952) 447-4245 , , AN EQUAL OPPORTUNITY EMPLOYER REAL ESTATE PURCHASE AGREEMENT THIS AGREEMENT ("Agreement") made and entered into this day of , 2002, by and between RONALD L. HABERKORN and SANDRA J. HABERKORN, husb md and wife, whose address is 6500 Smithtown Road, Excelsior, Minnesota 55331 (referred to herei 1 as "Buyer"), and the CITY OF PRIOR LAKE, a Minnesota municipal corporation, whose address is 16~00 Eagle Creek Avenue SE, Prior Lake, MN 55372 (referred to herein as "Seller"). , i IN CONSIDERATION of the mutual covenants and agreements herein, it is hereby mutually agre+d by Seller and Buyer as follows: SECTION 1. SALE AND PURCHASE OF LAND 1.1) Seller shall sell to Buyer and Buyer shall purchase from Seller, upon the terms and conditions herel If, the following property) all collectively referred to as the "Subject Property"): 1.1.1) The vacant, unimproved land in Scott County, Minnesota, legally described on Exhibit "A" attached hereto and incorporated herein, together with all right, title and interest in and to any roads, alleys or right-of-ways adjoining or servicing such land, along with easements appurtenant thereto. SECTION 2. PURCHASE PRICE 2.1) The purchase price for the Subject Property ("Purchase Price") shall be One and no/100 Dolli Irs ($1.00) payable by Buyer to Seller on the date of closing. SECTION 3. TITLE MATTERS , , 3.1) i Seller shall furnish to Buyer within twenty (20) days hereof a current commitment for the issu~nce of a 1987/1990 AL TA Form B owner's policy of title insurance ("Commitment") issued by a Title Insurance Company acceptable to Buyer ("Title") in the amount of the Purchase Price, committing to in ,ure that Buyer will have good and marketable title to the Subject Property, free of any and all stan lard and other exceptions to title, except matters to which Buyer may consent in writing. 3.2) In the event any exceptions are listed in the Commitment for title insurance other than accepted by S 31ler hereunder, the Seller shall promptly cause the exception to be removed. If the Seller fails to rem( ,ve the same within the time allowed for closing on the Subject Properly, the Buyer (at Buyer's optiCjn) shall have the right to: (a) terminate this Agreement; or (b) cause the exception(s) to be remqved and credit Buyer's cost to remove the exception(s) against the Purchase Price. 1:lAgr 'emntIPA-Norex.DOC 1 SECTION 4. CLOSING 4.1) - "he closing ("Closing") shall be at a location designated by Buyer, and shall occur within ninety (gO) dal s after the execution of this agreement ("Closing Date"). 4.2) I)n the Closing Date, Sellers shall deliver to Buyer possession of the Subject Property. Sellers shall nc t remove any dirt, trees, shrubs, or other natural growth, except as is necessary to keep the Subject Property in a neat and orderly condition. 4.3) pn the Closing Date, Sellers shall execute and deliver to Buyer: 1.3.1) A duly executed Warranty Deed, subject only to the exceptions consented to by Buyer in writing; . ~.3.2) A customary affidavit that ther~ are no unsatisfied judgments. of record, no actions pending in any state or federal courts, not tax hens, and no bankruptcy proceeding filed against Seller, and no llabor or materials have been furnished to the Subject Property for which payment has not been made, and that to the best of Seller's knowledge there are no unrecorded interests relating to the Subjec Property; and 4.3.3) A certificate on a form acceptable to Buyer that all of the covenants, representations and warran .ies of Seller as set forth in Section 5 are true and correct as of the Closing Date. 14.3.4) The Abstract of Title to the Subject Property, if the Subject Property is Abstract property and thE' Abstract is in Seller's possession or control. 4.3.5) Well Certificate. If there is a well located on the Subject Property, a Well Disclosure Certific ate signed by Seller in the form required by law. 4.4) Seller shall pay at Closing all general real estate taxes levied against the Subject Property due and pa yable for all years prior to the year of Closing, the balance of all special assessments levied or pendin ~ against the Subject Property as of the Closing Date, and any deferred taxes. Seller shall pay all the general real estate taxes levied against the Subject Property due and payable in the year of CloSinll. Buyer shall not assume the unpaid balance of any special assessments. 4.5) Seller shall pay at Closing: 4.5.1) state deed tax; 4.5.2) all costs of updating the abstract of title and all costs associated with obtaining a title insurallce commitment, including name searches, tax searches, bankruptcy searches, and properly inspecion fees; 4.5.3) recording fees for corrective instruments required to remove encumbrances and place marke' able title in Buyer's name; 4.6) Buyer shall pay at Closing: 4.6.1) all recording fees and charges relating to the filing of the Warranty Deed; 4.6.2) title insurance premiums; and 1:lAgreermtIPA-Norex.DOC ! 2 ! 4.6.3) the closing fee charged by Title Company. SECTION 5. COVENANTS. REPRESENTATIONS AND WARRANTIES OF SELLER 5.1) : Seller, as an inducement to Buyer to enter into this Agreement, and as part of the consideration therefor, represents, warrants, and covenants with Buyer and its successors and assigns that: ! 5.1.1) There are no leases, options, purchase agreements, rights to redeem, tenancy agre~ments, or rights of occupancy, written or verbal, and no person or party has, or will have any right~ of adverse possession, regarding or arising out of the occupancy of the Subject Property. i ! 5.1.2) Sellers will maintain in force insurance against public liability from such risk and to such , limits as in accordance with prudent business practice and suitable to the Subject Property from the date Ihereof to the Closing Date; 5.1.3) As part of this agreement, Sellers shall execute the well disclosure certificate attached here 0 as Exhibit "B". Sellers shall deliver the well certificate to Buyer on the date of execution of this agre ~ment. Sellers warrant that all statements set forth in the well certificate are true, accurate and COml llete to the best of Seller's knowledge. 5.1.4) Seller represents and warrants to Buyer that Seller has the requisite of power and authbrity to enter into this Agreement and the Seller's Closing Documents to be signed by Seller; that the $xecution, delivery and performance by Seller of such documents do not conflict with or result in viol~tion of any judgment, order, or decree of any court or arbiter to which Seller is a party; and such doc~ments are valid and binding obligations of Seller, and are enforceable in accordance with their terrns. , 5.1.5) Seller owns the Subject Property free and clear of all encumbrances, liens, covenants, con~itions, easements, restrictions, reservations, and assessments, except those exceptions con~ented to by Buyer in writing. 5.1.6) Seller has received no notice of actual or threatened special assessments or rea~sessments of the Subject Property. 5.1.7) Seller is not in default in the performance of any of Seller's obligations or liabilities under any leasement agreement, covenant, condition, restriction or other instrument relating to the Subject Prowerty . , 5.1.8) Seller is not a "foreign person", "foreign partnership", "foreign trust", or "foreign estate" as t~ose terms are defined in Section 1445 of the Internal Revenue Code. . 5.1.9) There is no action, litigation, investigation, condemnation or proceeding of any kind pen~ing or, to the best knowledge of Seller, threatened against Seller or the Subject Property. 5.1.10) Seller certifies that Seller does not know of any private sewer system on or serving the Sut)ject Property, nor have any been installed or removed during Seller's ownership of the Subject Property. 5.1.11) There are no encroachments or boundary line issues affecting the Subject Property. I :\AgreemntlP A-Norex.DOC 1 I 3 5.1.12) The Subject Property abuts on and has direct vehicular access to a public road or has drive'vay access to public roads by permanent, irrevocable easements which will be conveyed to Buyer on th ~ date of closing, and Seller has no knowledge of any fact or condition which would result in the termi lation of such access. 1 5.1.13) The Subject Property is served by the following public and private utility services: elect~ic, gas, storm sewer, water, sanitary sewer and telephone, all of which services are available in adeq Jate capacities to properly service the Subject Property. Seller has received no notice of actual or threa tened reduction or curtailment of any utility service now supplied to the Subject Property. All utility lines 1 reach the boundaries of the SUbject Property through publiC rights-of-way or valid private easefnents, the interest of Seller in which shall be assigned by Seller to Buyer on the Closing Date. 5.1.14)Seller has no knowledge of any defects in the physical condition of the Subject Property, except as follows: soil correction mav be necessarv for the site to be fullv developable 5.2) 1 The covenants, representations, and warranties contained in Section 5 shall be deemed to bene fit Buyer and its successors and assigns and shall survive any termination or expiration of this Purc lase Agreement or the giving of the Deed. All of Seller's covenants, representations and warr mties in this Agreement shall be true as of the date hereof and of the Closing Date, and shall be a cone ition precedent to the performance of Buyer's obligations hereunder. If Buyer discovers that any suc~ covenant, representation, or warranty is not true, Buyer may elect prior to closing, in addition to any bf its other rights and remedies, to cancel this Agreement, or Buyer may postpone the Closing Date up to ninety (90) days to allow time for correction. SECTION 6. ENVIRONMENTAL INVESTIGATION AND SOIL CORRECTION. 6.1) 1 Buyer may perform such inspections of the Subject Property as Buyer, in Buyer's sole disc~etion, deems appropriate (the "Inspections"). The Inspections shall be done at Buyer's sole cost and lexpense. Buyer and Buyer's agents shall have the right, at all reasonable times, to enter upon the Subject property to perform the Inspections. 6.2). Buyer shall give Seller not less than 48 hours' advance notice of any Inspection. Buyer shall atteljnpt to perform all Inspections Monday through Friday during normal business hours; provided, how~ver that Buyer may inspect rooming units which are not accessible during normal business hours on Elvenings or weekends, and Seller and its agents shall assist Buyer in obtaining access to such unit~. Seller shall be entitled to have a representative accompany Buyer's representative at all times. Buy~r shall indemnify and hold Seller harmless from any damage or destruction of the Property or phy$ical injuries occurring as a result of Buyer's acts while conducting Inspections. Buyer agrees not to qisclose any information concerning the Subject Property to third parties except those parties preparing reports or tests as part of its Inspections, and then only to the extent necessary to prepare suc~ reports or tests. 6.3)1 The parties acknowledge that the Inspections provided for herein should provide Buyer with full and adequate opportunity to inspect the Subject Property and will thoroughly acquaint Buyer with its conlition. Accordingly, if and when Closing occurs, Buyer shall take the Subject Property "As Is" and "W~.ere Is," with all faults and defects, if any, except as specifically set forth in this Agreement. Seller hasl not made and does not make any representations as to the physical condition, expenses, operation or any other matter or thing affecting or related to the Subject Property, except as specifically set forth in this Agreement. Buyer agrees to indemnify and hold Seller harmless from and against and I :lAgreemntlP A-Norex. DOC i I 4 to reiml1urse Seller with respect to any and all claims, demands, causes of action, losses, damages, Iiabilitie~ and costs (including attorneys' fees and court costs) asserted against or incurred by Seller by reason Of or arising out of the physical condition or operation of the Subject Property subsequent to the Closing 1 Date, except to the extent that the same are proven to have been incurred as a result of a breach pf any representation or warranty of Seller as set forth in this Agreement. In particular, Buyer agrees 'to hold Seller harmless from any claims arising out of the soil conditions of the Subject Property. SECTION 7. CONTINGENCIES , The obligations of Buyer under this Agreement are contingent upon each of the following: , 7.1) iThe representations and warranties of Sellers set forth in Section 5 of this Agreement must be true asi of the date of this Agreement and on the Closing Date, and Sellers shall have delivered to Buyer !at Closing a certificate dated the Closing Date, signed by Sellers, certifying that such repres~ntations and warranties are true as of the Closing Date; 7.2) !Buyer shall have determined on or before the Closing Date, that it is satisfied, in its sole discret on, with the results of the environmental/soil investigations and tests, and any subsequent remedi ation of the Subject Property. 7.3) Buyer is satisfied in its sole discretion with the results of any survey performed by Buyer, or verifice tion of the Seller's Survey, the cost of which is to be assumed by Buyer. 7.4) Title shall have been found acceptable, or been made acceptable, in accordance with the requirements and terms of this Agreement. 7.5) Seller shall have performed all of the obligations required to be performed by Seller under this Agreerlent, as and when required by this Agreement. 7.6) Insoections. The results of the Inspections shall be satisfactory to Buyer, in Buyer's sole discret on. 7.7) Buyer shall have satisfied itself, in Buyer's sole discretion, that water and gas main, electric power lines, and sanitary and storm sewers are available at the property lines and adequate for Buyer'; proposed use of the Subject Property. With tlile exception of the contingencies set forth in Sections 7.1, 7.4 and 7.5, which shall remain in force I ntil the Closing, if any of the remaining contingencies have not been satisfied by at least seven days t efore the Closing Date, the Buyer may, at Buyer's option, terminate this Agreement by giving writte~ notice to Sellers. Upon such termination, neither party shall have any further rights or obligalions under this Agreement. The contingencies are for the sole and exclusive benefit of Buyer, and B~yer shall have the right to waive the contingencies by giving written notice to Sellers. SECTION 8 MISCELLANEOUS 8.1) ! The covenants, representations, warranties, indemnifications and, to the extent applicable followirg the Closing, obligations, made by Seller shall survive the Closing of this transaction. 1:\AgreemntIPA-Norex. DOC 5 8.2) ~ny notice, demand, or request which may be permitted, required or desired to be given in connection herewith shall be in writing and sent by certified mail, hand delivery, overnight mail service such as! Federal Express, or Western Union telegram or other form of telegraphic communication, directe~ to Sellers or Buyer. Any notice shall be deemed effective when delivered to the party to whom it is dirE ded. Unless other addresses are given in writing, notices shall be sent to Sellers or Buyer at the app icable addresses stated on the first page of this Agreement. 8.3) time shall be of the essence in this Agreement. Where any date or time prescribed by this Agreen1ent falls on a Saturday, Sunday or statutory holiday, such date or time shall automatically be extend~d to the next normal business day. 8.4) ~ach party hereto shall promptly, on the request of the other party, have acknowledged and deliver~d to the other party any and all further instruments and assurances reasonably requested or approp~iate to evidence or give effect to the provisions of this Agreement. , 8.5) ~his Agreement represents the entire agreement of the parties with respect to the Subject prope1y and all prior agreements, understandings or negotiations between the parties are hereby revoke and superseded hereby. No representations, warranties, inducements, or oral agreements have een made by any of the parties, except as expressly set forth herein, or in other conte~poraneous written agreements. This Agreement may not be changed, modified or rescinded, except Iby a written agreement signed by both parties hereto. ! 8.6) Ilf Buyer defaults under any of the terms hereof, the sole remedy available to Seller shall by the cancel~tion of this Agreement. 8.7) If Seller defaults under any of the terms hereof, including, without limitation, the delivery of marke' able title to the Subject Property as set forth in Section 4 hereof, then Buyer shall have the right to pur:;ue any remedies that are available to Buyer at law or in equity, including without limitations, specifi: performance and damages (including attorney's fees), and to the cancellation of this Agreel nent. 8.8) Ilf any provision of this Agreement is declared void or unenforceable, such provision shall be deem~d severed from this Agreement, which shall otherwise remain in full force and effect. i 8.9) . Failure of any party to exercise any right or option arising out of a breach of this Agreement shall not be deemed a waiver of any right or option with respect to any subsequent or different breach, or the :ontinuance of any existing breach. 8.10) This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respe<,tive heirs, personal representatives, successors and assigns. 8.11) ! This Agreement shall be construed in accordance with the laws of the State of Minnesota. IN wr "NESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. 1:\AgreE mnIIPA-Norex.DOC 6 SELLER: CITY of PRIOR LAKE BUYER: By: Jack G. Haugen, Mayor Ronald L. Haberkorn By: IFrank Boyles, City Manager Sandra J. Haberkorn STATE OF MINNESOTA ) )ss. COUN rv OF SCOTT ) The fqregoing instrument was acknowledged before me this day of i ,by Jack G. Haugen and by Frank Boyles, respectively the Mayor and City Manager of the CITY F PRIOR LAKE, a Minnesota municipal corporation, on behalf of the corporation and pursuant to the uthority granted by its City Council. Notary Public STAT~ OF MINNESOTA ) 1 )ss. COUNTY OF SCOTT ) The fc'regoing instrument was acknowledged before me this day of , by Ronald L. Haberkorn and Sandra J. Haberkorn, husband and wife. Notary Public This Instrument drafted by: CITY ::>F PRIOR LAKE 1620( Eagle Creek Avenue SE Prior take, MN 55372 Telep1one: (952) 447-4230 1;\Agre~mnt\PA-Norex.DOC I , i 7 EXHIBIT "A" Legal Description That part of Lot 1, Block 2, WATERFRONT PASSAGE ADDITION, Scott County, Minnesota, described as follows: Commencing at the southeast corner of Lots 2, Block 2 of said plat; thence South 89 degrees 49 minutes 16 seconds East plat bearing along the south line of said Lot 1, Block 2, a distance of 100.52 feet to the point of beginning of the land to be described; thence North 00 degrees 10 minutes 44 seconds East parallel with the east line of said Lot 2, Block 2 and its northerly extension a distance of 412.60 feet; thence North 39 degrees 03 minutes 21 seconds East a distance of 265.01 feet to the northeasterly line a distance of 351.36 feet, thence South 39 degrees 03 minutes 21 seconds West a distance of 265.07 feet to the intersection with a line drawn North 00 degrees 10 minutes 44 seconds East from a point on the south line of said Lot 1, Block 2, distant 287.78 feet west of the southeast corner; thence South 00 degrees 10 minutes 44 seconds West along said line a distance of 208.30 feet to said point; thence westerly along the south line of said Lot 1, Block 2, to the point of beginning. 1:\Agre'mnIIPA-Norex.DOC 8 ..,:28 KOHLRUSCH RBST ~ 6124474245 NO. 106 [;101 Koblruscb Title Services, Inc. 121 West 3rd Avenue P.O. Box 3SS Shakopee, Minnesota 55379 urUS8NT1NG: o Commonwealth CoMilQllWlAl.11I LiND 'IllU IIIIUWlCl COW'~NY ~~=!""";:;--"'~~J!:;f';~:;:f.~~:.-~.....-......""~g,,,,~'",,"~~ , l'O' ,~~... .._..-....._">l!'"~:w;",,,,.:~, ~~r:"l!I""-.""....'l<._~:.~f-..~.,.:<ql''''''. ..." """ '----I,1l'.." ""'" ,..' FAX....u.(ANSMIl 1 AL Tp: , +w: DATE: FROM: Kelly Meyer FAX NO: 447-4245 City of Prior Lake March 28, 2002 Janae Larsen .: O&E Sorry i[ took roe so long to do this (computers were down!) TOTAL NUMBER OF PAGES INCLUDING COVER LE.l utR: 14:28 KOHLRUSCH RBST ~ 6124474245 .~oh1ruDeh Title Servicea, Inc. P.O. Box 3$5 128 West 3td Avenue Shakcpee, ~N 55379 Voice: Fax: '~~-44S -lOSO '~2-445-0J19 OUplic&te Sold To: city ~f Prior Uk.. 16~001 eagle creek AVe. SE Pric~ Lak., MN 55312 Ship to: Clstomer 10 ci ty c r Prior Lake Customer PO City of Prior Lak.. Shipping Method Kand. Deliver Sailes Rep 10 Item Description' ~stracting (O&E) Quanti~ 'B Check No: NO. 106 (;102 Invoice Invoice Number: S4843 Invoice Date: Mar 28. JOO:2 Payment Terms C.O.D. Ship Datc Unit Pri ce Subtotal Sales Tax Total Invoice Amount Payment Received TorAL Page: 1 I i Due Date 3/28/02 Extension 15.00 15.00 75_00 75.00 Land Surveyors Planners Valley Surveying Co., RA. y (952) 447-2570 Suite 230 16670 Franklin Trail S.E. Prior Lake, Minnesota 55372 . 1-arch 15,2002 E isement vacation description prepared for: T le City' of Prior Lake, Minnesota C 10 Kelly Meyer . 11 ;200 Eagle Creek Avenue S.E. P 'ior L~ke, MN 55372-1714 JESCRIPTION OF EASEMENT TO BE VACATED: I Ai request to vacate that portion ofthe platted public utility and drainage easement on that part of L )t 1, Block 2, WATERFRONT PASSAGE ADDITION, Scott County, Minnesota described as f{ 110ws: C Jmmencing at the southeast corner of Lot 2, Block 2, of said plat; thence South 89 degrees 49 IT inutes 16 seconds East plat bearing along the south line of said Lot 1, Block 2, a distance of 100.52 feet; thence North 00 degrees 10 minutes 44 seconds East paral1el with the east line of Sl id Lot 2, Block 2, and its northerly extension a distance of392.56 feet to the point of beginning 0:' the easement to be vacated; thence continuing North 00 degrees 10 minutes 44 seconds East a dlstance of20.04 feet; thence North 39 degrees 03 minutes 21 seconds East a distance of 164.49 feet; thence South 01 degrees 00 minutes 56 seconds West a distance of 78.86 feet; thence South 4 ~ degrees 14 minutes 04 seconds East a distance of 143.00 feet; thence South 34 degrees 00 IT inutes 56 seconds West a distance of 100.00 feet; thence North 54 degrees 29 minutes 04 slconds West a distance of 188.00 feet to the point of beginning, Ef~:CEPTING THEREFROM: The northwesterly 10.00 feet of the above described easement vtcation. , 1 I ! 10183 ,;28 KoHLRUSCH RBST ~ 6124474245 NO. 106 (;103 O~lIlP ANQ.,ENCUMBRANCE RIWORT Effective Dale: Februarv 28. 200Lat 8:00 lI.m. Legal Description: Tbiat part of Loll, Block 2, WATERFRONT PASSAGE ADDITION, Scott County, Minnesota de$cribed as follows: Cqmmencing at the southeast corner of Lot 2, Block 2, of said plat; thence South 89 degrees 49imlnutes 16 seconds East plat baring along the south line of said Lot 1, Block 2. a distance of 100.52 feet to the point of beginning of the land to be described; thence North 00 degrees 10 minutes 44 seconds East parallel with the Cllst linc of said Lot 2. Block 2. and its nOTlherly ex~nsion a distance of 412.60 feet; thence North 39 degrees 03 minutes 21 seconds East a dis~ance of 265,01 feet to the northeasterly line of said Lot 1, Block 2; thence South 54 degrees 14 iminutes 04 seconds East along said northeasterly line a distance of 351. 36 feet; thence South 39 degrees 03 minutes 21 seconds West a distance of 265.07 feet to the intersection with a line drawn North 00 degrees 10 minutes 44 seconds East from a point on the south line of said Lot 1. 13lock 2, distant 287.78 feet west of the southeast corner; thence South 00 degrees 10 minutes 44 ;seconds WeSI along said line a distance of 208.30 feet to said point; thence westerly along the south line of said Lot I, Block 2, to the point of beginning. Fee Owner: City of Prior Lake, a municipal corporation under the laws of Minnesota. UNSATISFIED MORTGAGES, MECHANIC'S LIENS OR OUTSTANDING CONTRACT FO~ DEEDS, OF RECORD: None; - - - - DArrED~ February 28, 2001 at 8:00 a.m. ........-4~-~ ~ ~ . J~. e M. Larscn, Licensed Abstracter ~il~ No. 54843 N01lE. Tbls reporl was prepared wilb due dili,ence ~nd every errorl was made 10 ensure lhe accuracy or Ibis reporl, however, Koblrusch ScotUCarver Abslract Co., Inc. accepts no IlablUly ror e"ors and/or omissions herein.