HomeMy WebLinkAbout2009 05-26 EDAPEDA MEETING
City of Brooklyn Center
May 26, 2009
1. Call to Order
—The EDA requests that attendees turn off cell phones and pagers during the meeting. A
copy of the full City Council packet, including EDA (Economic Development Authority),
is available to the public. The packet ring binder is located at the front of the Council
Chambers by the Secretary.
2. Roll Call
AGENDA
3. Approval of Agenda and Consent Agenda
—The following items are considered to be routine by the Economic Development
Authority (EDA) and will be enacted by one motion. There will be no separate
discussion of these items unless a Commissioner so requests, in which event the item will
be removed from the consent agenda and considered at the end of Commission
Consideration Items.
a. Approval of Minutes
1. May 11, 2009 Regular Session
4. Commission Consideration Items
a. Resolution Authorizing the Acquisition of 5601 Logan Avenue North in
Connection with the Remove and Rebuild Program
Requested Commission Action:
Motion to adopt resolution.
5. Adjournment
EDA Agenda Item No. a
1. CALL TO ORDER
The Brooklyn Center Economic Development Authority (EDA) met in Regular Session called to
order by President Tim Willson at 8:10 p.m.
2. ROLL CALL
MINUTES OF THE PROCEEDINGS OF THE
ECONOMIC DEVELOPMENT AUTHORITY
OF THE CITY OF BROOKLYN CENTER
IN THE COUNTY OF HENNEPIN AND THE
STATE OF MINNESOTA
REGULAR SESSION
MAY 11, 2009
CITY HALL COUNCIL CHAMBERS
President Tim Willson and Commissioners Kay Lasman, Tim Roche, Dan Ryan, and Mark
Yelich. Also present were Executive Director Curt Boganey, Public Works Director /City
Engineer Steve Lillehaug, Director of Business and Development Gary Eitel, Community
Development Specialist Tom Bublitz, Assistant City Manager/Director of Building and
Community Standards Vickie Schleuning, City Attorney Charlie LeFevere, and Carol Hamer,
TimeSaver Off Site Secretarial, Inc.
3. APPROVAL OF AGENDA AND CONSENT AGENDA
Commissioner Lasman moved and Commissioner Ryan seconded approval of the Agenda and
Consent Agenda, and the following item was approved:
3a. APPROVAL OF MINUTES
1. April 27, 2009 Regular Session
Motion passed unanimously.
4. COMMISSION CONSIDERATION ITEMS
4a. RESOLUTION NO. 2009 -08 AUTHORIZING THE ACQUISITION OF 5836
BROOKLYN BOULEVARD IN CONNECTION WITH THE REMOVE AND
REBUILD PROGRAM
Mr. Eitel introduced the item, discussed the history, stated the purpose of the proposed
resolution, and answered questions of the EDA. He stated the intent is to demolish the building
as quickly as possible. This will be coordinated with the County and will likely be done later this
summer.
05/11/09
-1- DRAFT
There was discussion on the intent for the City to acquire the remaining non commercial uses
along Brooklyn Boulevard in accordance with the Comprehensive Plan.
Commissioner Lasman moved and Commissioner Yelich seconded adoption of EDA
RESOLUTION NO. 2009 -08 Authorizing the Acquisition of 5836 Brooklyn Boulevard in
Connection with the Remove and Rebuild Program.
President Willson thanked staff for taking this initiative and taking a proactive approach with the
market at this time.
Motion passed unanimously.
5. ADJOURNMENT
Commissioner Roche moved and Commissioner Lasman seconded adjournment of the Economic
Development Authority meeting at 8:16 p.m.
Motion passed unanimously.
05/11/09
-2- DRAFT
EDP Agenda Item No. 4a
EDA COUNCIL ITEM MEMORANDUM
DATE: May 5, 2009
TO: Curt Boganey, City Manager
FROM: Gary Eitel, Director of Business and Development
SUBJECT: Resolution Authorizing the Acquisition of Property in Connection with the
Remove and Rebuild Program (5601 Logan Ave.)
COUNCIL ACTION REQUESTED:
Motion to adopt the Resolution Authorizing the Acquisition of Property in Connection with
the Remove and Rebuild Program (5601 Logan Ave.).
BACKGROUND:
On January 12, 2009, the EDA adopted Resolution No. 2009 02 "A Resolution Establishing
Housing Programs and Anoroving the Use of Funds from Tax Increment District No. 3
Housing Account" which authorized the Remove and Rebuild Program.
REMOVE AND REBUILD PROGRAM:
The program was created to remove blighted, distressed, and unmarketable properties and
to return theses properties to an enhanced and compatible use with the neighborhood and
consistent with zoning regulations and the City's Comprehensive Plan.
Additionally, the program recognized that if an appropriate use for the land is not
imminent, the property will be land banked until such time an appropriate use becomes
available.
Proposed Acquisition:
The Hennepin County Tax Records identifies the property owner and taxpayer of 5601
Logan Ave. as JP Morgan Chase Bank.
The 2009 property tax value is shown at $207,900.
A review of the City records shows the following sales data:
No sales data was available for this property.
The property is a corner lot with 130' of frontage on 56th Ave. and 138' of lot
depth /frontage on Logan Ave. with a lot area of 18,850 sq.ft. The tax records indicate that
the residence was built in 1909.
The property is presently zoned R -1, One Family Residence District.
The property is a vacant and foreclosed building, the attached purchase agreement
provides for the sales of this property in the amount of 41,550.
The acquisition was facilitated without the consultant service /assistance of the Greater
Metropolitan Housing Corporation. The costs associated demolition is estimated at
approximately $13,000
A special assessment search indicates that there are no levied or pending assessments on
this property.
At this time, the staff is recommending that the residence be removed and the lot
considered for infill development.
BUDGET ISSUES:
The acquisition and demolition costs for this property will be funded by the Housing
Account from Tax Increment District No. 3.
The property is also within the Neighborhood Stabilization Program Target Area which
provides a potential alternate funding source that the staff is pursuing.
Commissioner introduced the following resolution and
moved its adoption:
WHEREAS, on January 12, 2009, the Economic Development Authority in and for
the City of Brooklyn Center, Minnesota (the "EDA adopted Resolution No. 2009 -02 establishing
housing programs and approving the use of funds from the Tax Increment District No. 3 housing
account; and
WHEREAS, one of the housing programs so established was the EDA's Remove
and Rebuild Program (the "Program to acquire demolished, blighted, distressed, and unmarketable
properties to be returned to uses compatible with the neighborhood; and
for sale; and
EDA RESOLUTION NO.
RESOLUTION AUTHORIZING THE ACQUISITION OF 5601 LOGAN
AVENUE IN CONNECTION WITH THE REMOVE AND REBUILD
PROGRAM
WHEREAS, real property located at 5601 Logan Ave. (the "Subject Property") is
WHEREAS, City staff have negotiated a purchase agreement for the purchase by
the EDA of the Subject Property in the amount of $41,550; and
WHEREAS, the EDA has determined that acquisition of the Subject Property on the
terms and conditions set forth in the proposed purchase agreement is consistent with the goals and
objectives of the Program and is in the best interests of the City of Brooklyn Center and its citizens.
NOW THEREFORE BE IT RESOLVED by the Economic Development Authority
in and for the City of Brooklyn Center, Minnesota, as follows:
1. The purchase agreement for the Subject Property is hereby approved.
2. The President and Secretary of the EDA are authorized and directed to execute the
purchase agreement, and the Executive Director is authorized and directed to take all
such further steps as are necessary to effect the terms thereof.
Mav 26.2009
Date
President
The motion for the adoption of the foregoing resolution was duly seconded by commissioner
and upon vote being taken thereon, the following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared passed and adopted.
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3. RECEIVED OF
MN:PA -1 (8/07)
PURCHASE AGREEMENT
This form approved by the Minnesota Association of REALTORS°°,
which disclaims any liability arising out of use or misuse of this form.
2007 Minnesota Association of REALTORS Edina, MN
1. Date May 12, 2009
2. Page 1 of
4.
5. the sum of Two Thousand Dollars 2000
6. by CHECK CASH NOTE as earnest money to be deposited upon acceptance of Purchase
-------------------(Check one.)
7. Agreement by all parties, on or before the third business day after acceptance, in the trust account of listing
8. broker, unless otherwise agreed to in writing, but to be returned to Buyer if Purchase Agreement is not accepted
9. by Seller. Said earnest money is part payment for the purchase of the property located at
10. Street Address: 5601 Logan Ave N
11. City of Brooklyn Center County of Hennepin
12. State of Minnesota, legally described as
13 Lot 000 Block 000 AUDITOR'S SUBD. NO. 218 THAT PART OF LOT 35 LYING EAST OF THE WEST LINE
14 OF THE EAST 1/8 OF THE NORTHWEST QUARTER OF THE SOUTHEAST QUARTER, SECTION 2,
TOWNSHIP 11 R. RANGF 21. EXCEPT THE NORTH 485 FF.F.T THF.RF.OF. ATTDTTOR'S STTRDTVTSTON
15. including all fixtures on the following property, if any, owned by Seller and used and located on said property,
16. including but not limited to garden bulbs, plants, shrubs and trees; storm sash, storm doors, screens and awnings;
17. window shades, blinds, traverse and curtain and drapery rods; attached lighting fixtures and bulbs; plumbing
18. fixtures, water heater, heating plants (with any burners, non -fuel tanks, stokers and other equipment used in connection
19. therewith), built -in air conditioning equipment, electronic air filter, water softener OWNED RENTED NONE,
(Check one.;
20. built -in humidifier and dehumidifier, liquid fuel tank(s) OWNED RENTED NONE and controls (if the
(Check one.)---
21. property of Seller), sump pump; attached television antenna, cable TV jacks and wiring; BUILT-INS: dishwashers,
22. garbage disposals, trash compactors, ovens, cook -top stoves, microwave ovens, hood fans, intercoms;
23. ATTACHED: carpeting; mirrors; garage door openers and all controls; smoke detectors; fireplace screens, doors and
24. heatilators; AND the following personal property:
25.
26.
27. all of which property Seller has this day agreed to sell to Buyer for sum of
28. Dollars,
29. which Buyer agrees to pay in the following manner:
30. 1. Cash of at least 100 percent of the sale price, which includes the earnest money; PLUS
31. 2. Financing, the total amount secured against this property to fund this purchase, not to exceed 0
32. percent of the sale price.
33. Such financing shall be (check one) n a first mortgage; a contract for deed; or a first mortgage with
34. subordinate financing, as described in the attached Addendum:
35. Conventional FHA DVA Assumption Contract for Deed Other:
(Check one.)---
36. The date of closing shall be 20
37. This Purchase Agreement IS IS NOT subject to a Contingency Addendum for sale of Buyer's property.
(Check one.)--
38. (If answer is IS, see attached Addendum.)
39. (If answer is IS NOT, the closing of Buyer's property, if any, may still affect Buyer's ability to obtain financing, if financing
40. is applicable.)
WEBFormsT" Feb/2009
44. dated
45. (If answer is IS, said cancellation shall be obtained no later than 20 If
46. said cancellation is not obtained by said date, this Purchase Agreement is canceled. Buyer and Seller shall immediately
47. sign a Cancellation of Purchase Agreement confirming said cancellation and directing all earnest money paid
48. hereunder to be refunded to Buyer.)
49. Buyer has been made aware of the availability of property inspections. Buyer Elects Declines to have a
(Check one.
50. property inspection performed at Buyer's expense.
51. This Purchase Agreement (l IS IS NOT subject to an Inspection Contingency Addendum.
(Check one.)----
52. (If answer is IS, see attached Addendum.)
53. DEED /MARKETABLE TITLE: Upon performance by Buyer, Seller shall deliver a
54. Warranty Deed or n Other: Special Warranty Deed joined in by spouse, if any, conveying
(Check one.)
55. marketable title, subject to
56. (a) building and zoning laws, ordinances, and state and federal regulations;
57. (b) restrictions relating to use or improvement of the property without effective forfeiture provisions;
58. (c) reservation of any mineral rights by the State of Minnesota;
59. (d) utility and drainage easements which do not interfere with existing improvements;
60. (e) rights of tenants as follows (unless specified, not subject to tenancies):
61. and
62. (f) others (must be specified in writing):
PURCHASE AGREEMENT
41. Address 5601 Logan Ave N
42. Page 2 Date May 12, 2009
43. This Purchase Agreement IS [7 IS NOT subject to cancellation of a previously written purchase agreement
(Check one.)
63.
64.
65.
66.
67.
68. BUYER SHALL PAY SELLER SHALL PAY on date of closing any deferred real estate taxes (e.g., Green
(Check one.;
69. Acres) or special assessments, payment of which is required as a result of the closing of this sale.
70. BUYER AND SELLER SHALL PRORATE AS OF THE DATE OF CLOSING G/] SELLER SHALL PAY ON
(Check one.
71. DATE OF CLOSING all installments of special assessments certified for payment, with the real estate taxes due and
72. payable in the year of closing.
73. BUYER SHALL ASSUME SELLER SHALL PAY on date of closing all other special assessments levied as
(Check one.)
74. of the date of this Purchase Agreement.
75. n BUYER SHALL ASSUME n SELLER SHALL PROVIDE FOR PAYMENT OF special assessments pending as
(Check one.;
76. of the date of this Purchase Agreement for improvements that have been ordered by any assessing authorities. (Seller's
77. provision for payment shall be by payment into escrow of two (2) times the estimated amount of the assessments or
78. less, as required by Buyer's lender.)
79. Buyer shall pay any unpaid special assessments payable in the year following closing and thereafter, the payment of
80. which is not otherwise herein provided.
MN:PA -2 (8/07)
WEBFonns Feb12009
PURCHASE AGREEMENT
81. Address 5601 Logan Ave N
82. Page 3 Date May 12, 2009
83. As of the date of this Purchase Agreement, Seller represents that Seller 0 HAS n HAS NOT received a notice
(Check one.)--
84. regarding any new improvement project from any assessing authorities, the costs of which project may be assessed
85. against the property. Any such notice received by Seller after the date of this Purchase Agreement and before closing
86. shall be provided to Buyer immediately. If such notice is issued after the date of this Purchase Agreement and on
87. or before the date of closing, then the parties may agree in writing, on or before the date of closing, to pay, provide
88. for the payment of or assume the special assessments. In the absence of such agreement, either party may declare
89. this Purchase Agreement canceled by written notice to the other party, or licensee representing or assisting the other
90. party, in which case this Purchase Agreement is canceled. If either party declares this Purchase Agreement canceled,
91. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said cancellation and
92. directing all earnest money paid hereunder to be refunded to Buyer.
93. Buyer shall pay PRORATED FROM DAY OF CLOSING 0 12ths OF ALL 0 NO real estate taxes due
(Check one.)----------
94. and payable in the year 20 09
95. Seller shall pay V PRORATED TO DAY OF CLOSING 12ths OF 0 ALL NO real estate taxes due and
(Check one.;
96. payable in the year 20 09 If the closing date is changed, the real estate taxes paid shall, if prorated, be adjusted
97. to the new closing date. Seller warrants taxes due and payable in the year 20 09 shall be 0 FULL- PART NON-
-------------(Check one.;
98. homestead classification.
99. If part- or non homestead classification is checked, Seller agrees to pay Buyer at closing
100. toward the non homestead real estate taxes. Buyer agrees to pay any remaining balance of non homestead taxes
101. when they become due and payable. Buyer shall pay real estate taxes due and payable in the year following closing
102. and thereafter, the payment of which is not otherwise herein provided. No representations are made concerning the
103. amount of subsequent real estate taxes.
104. POSSESSION: Seller shall deliver possession of the property no later than Immediately after closing.
105. All interest; unit owners' association dues; rents; and charges for city water, city sewer, electricity and natural gas shall
106. be prorated between the parties as of date of closing. Buyer shall pay Seller for remaining gallons of fuel oil or liquid
107. petroleum gas on the day of closing, at the rate of the last fill by Seller. Seller agrees to remove ALL DEBRIS AND
108. ALL PERSONAL PROPERTY NOT INCLUDED HEREIN from the property by possession date.
109. TITLE AND EXAMINATION: Within a reasonable time period after acceptance of this Purchase Agreement, Seller
110. shall provide one of the following title evidence options, at Seller's selection, which shall include proper searches
111. covering bankruptcies, state and federal judgments and liens, and levied and pending special assessments to Buyer
112. or Buyer's designated title service provider:
113. (1) A commitment for an owner's policy of title insurance on a current ALTA form issued by an insurer licensed
114. to write title insurance in Minnesota as selected by Buyer. Seller shall be responsible for the title search and
115. exam costs related to the commitment. Buyer shall be responsible for all additional costs related to the issuance
116. of the title insurance policy(ies) including but not limited to the premium(s), Buyer's name search and plat
117. drawing, if any. Seller shall surrender a copy of any owner's title insurance policy and Abstract of Title, if in
118. Seller's possession or control, for this property to Buyer or Buyer's designated title service provider.
119. (2) An Abstract of Title certified to date if Abstract Property or a Registered Property Abstract (RPA) certified to
120. date if Registered (Torrens) property. Seller shall pay for the abstracting or RPA costs and surrender any
121. abstract for this property in Seller's possession or control to Buyer or Buyer's designated title service provider.
122. If property is Abstract and Seller does not have an Abstract of Title, Option (1) will automatically apply.
123. Seller shall use Seller's best efforts to provide marketable title by the date of closing. In the event Seller has not
124. provided marketable title by the date of closing, Seller shall have an additional 30 days to make title marketable, or in
125. the alternative, Buyer may waive title defects by written notice to Seller. In addition to the 30 -day extension, Buyer
126. and Seller may, by mutual agreement, further extend the closing date. Lacking such extension, either party may declare
127. this Purchase Agreement canceled by written notice to the other party, or licensee representing or assisting the other
128. party, in which case this Purchase Agreement is canceled. If either party declares this Purchase Agreement canceled,
129. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said cancellation and
130. directing all earnest money paid hereunder to be refunded to Buyer.
MN:PA -3 (8/07)
WEBFonnsTM Feb/2009
PURCHASE AGREEMENT
131. Page 4
132. SUBDIVISION OF LAND: If this sale constitutes or requires a subdivision of land owned by Seller, Seller shall pay
133. all subdivision expenses and obtain all necessary governmental approvals. Seller warrants that the legal description
134. of the real property to be conveyed has been or shall be approved for recording as of the date of closing. Seller warrants
135. that the buildings are or shall be constructed entirely within the boundary lines of the property. Seller warrants that
136. there is a right of access to the property from a public right -of -way. These warranties shall survive the delivery of the
137. deed or contract for deed.
138. Seller warrants that prior to the closing, payment in full will have been made for all labor, materials, machinery, fixtures
139. or tools furnished within the 120 days immediately preceding the closing in connection with construction, alteration or
140. repair of any structure on, or improvement to, the property.
141. Seller warrants that Seller has not received any notice from any governmental authority as to condemnation proceedings,
142. or violation of any law, ordinance or regulation. If the property is subject to restrictive covenants, Seller warrants that
143. Seller has not received any notice from any person or authority as to a breach of the covenants. Any such notices
144. received by Seller shall be provided to Buyer immediately.
145. Seller agrees to allow reasonable access to the property for performance of any surveys or inspections agreed to
146. herein.
147. RISK OF LOSS: If there is any loss or damage to the property between the date hereof and the date of closing for any
148. reason, including fire, vandalism, flood, earthquake or act of God, the risk of Toss shall be on Seller. If the property
149. is destroyed or substantially damaged before the closing date, this Purchase Agreement is canceled, at Buyer's option,
150. by written notice to Seller or licensee representing or assisting Seller. If Buyer cancels this Purchase Agreement,
151. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said cancellation and
152. directing all earnest money paid hereunder to be refunded to Buyer.
153. TIME OF ESSENCE: Time is of the essence in this Purchase Agreement.
154. ENTIRE AGREEMENT: This Purchase Agreement, any attached exhibits and any addenda or amendments signed
155. by the parties shall constitute the entire agreement between Seller and Buyer and supersedes any other written or
156. oral agreements between Seller and Buyer. This Purchase Agreement can be modified or canceled only in writing
157. signed by Seller and Buyer or by operation of law. All monetary sums are deemed to be United States currency for
158. purposes of this Purchase Agreement. Buyer or Seller may be required to pay certain closing costs, which may effectively
159. increase the cash outlay at closing or reduce the proceeds from the sale.
160. ACCEPTANCE: To be binding, this Purchase Agreement must be fully executed by both parties and a copy must be
161. delivered.
162. DEFAULT: If Buyer defaults in any of the agreements hereunder, Seller may terminate this Purchase Agreement
163. under the provisions of MN Statute 559.21. If either Buyer or Seller defaults in any of the agreements hereunder or
164. there exists an unfulfilled condition after the date specified for fulfillment, either party may cancel this Purchase
165. Agreement under MN Statute 559.217, Subd. 3. Whenever it is provided herein that this Purchase Agreement is
166. canceled, said language shall be deemed a provision authorizing a Declaratory Cancellation under MN Statute 559.217,
167. Subd. 4.
168. If this Purchase Agreement is not canceled or terminated as provided hereunder, Buyer or Seller may seek actual
169. damages for breach of this Purchase Agreement or specific performance of this Purchase Agreement; and, as to
170. specific performance, such action must be commenced within six months after such right of action arises.
171. NOTICE REGARDING PREDATORY OFFENDER INFORMATION: Information regarding the predatory offender
172. registry and persons registered with the predatory offender registry under MN Statute 243.166 may be obtained
173. by contacting the local law enforcement offices in the community where the property is located or the Minnesota
174. Department of Corrections at (651) 361 -7200, or from the Department of Corrections web site at
175. www.corr.state.mn.us.
MN:PA -4 (8/07)
WEBFormsTM Feb/2009
PURCHASE AGREEMENT
176. Address 5601 Logan Ave N
177. Page 5 Date May 12, 2009
178. ENVIRONMENTAL CONCERNS: To the best of Seller's knowledge, there are no hazardous substances or underground
179. storage tanks except herein noted:
180.
181.
182.
183.
184.
185.
186.
187.
188.
189. (Check appropriate boxes.)
190. SELLER WARRANTS THAT THE PROPERTY IS EITHER DIRECTLY OR INDIRECTLY CONNECTED TO:
191. CITY SEWER Z YES NO CITY WATER OYES NO
192. PRIVATE SEWER SYSTEM
193. SELLER CERTIFIES THAT SELLER DOES [,11 DOES NOT KNOW OF A PRIVATE SEWER SYSTEM ON OR
(Check one.;
411) 194. SERVING THE PROPERTY. (If answer is DOES, see Private Sewer System Disclosure Statement.)
195. PRIVATE WELL
196. SELLER CERTIFIES THAT SELLER DOES Q� DOES NOT KNOW OF A WELL ON OR SERVING THE
(Check
197. PROPERTY. (If answer is DOES and well is located on the property, see Well Disclosure Statement.)
198. THIS PURCHASE AGREEMENT IS IS NOT SUBJECT TO A PRIVATE SEWER AND WELL INSPECTION
(Check one.)
199. CONTINGENCY ADDENDUM. (If answer is IS, see attached Addendum.)
200. IF A WELL OR PRIVATE SEWER SYSTEM EXISTS ON THE PROPERTY, BUYER HAS RECEIVED A WELL
201. DISCLOSURE STATEMENT AND /OR A PRIVATE SEWER SYSTEM DISCLOSURE STATEMENT.
202. NOTICE
203. Scot Pekarek
(Licensee)
204. Coldwell Banker Burnet
(Real Estate Company Name)
205. Scot Pekarek is Seller's Agent Buyer's Agent n Dual Agent Facilitator.
(Licensee) (Check one.;
206. Coldwell Banker Burnet
(Real Estate Company Name)
207. THIS NOTICE DOES NOT SATISFY MINNESOTA STATUTORY AGENCY DISCLOSURE REQUIREMENTS.
MN:PA -5 (8/07)
is Seller's Agent Buyer's Agent n Dual Agent Facilitator.
--(Check one.;
WEBForms Feb/2009
210. SELLER WARRANTS THAT CENTRAL AIR- CONDITIONING, HEATING, PLUMBING AND WIRING SYSTEMS USED
211. AND LOCATED ON SAID PROPERTY SHALL BE IN WORKING ORDER ON DATE OF CLOSING, EXCEPT AS
212. NOTED IN THIS PURCHASE AGREEMENT.
213. BUYER HAS THE RIGHT TO A WALK- THROUGH REVIEW OF THE PROPERTY PRIOR TO CLOSING TO
214. ESTABLISH THAT THE PROPERTY IS IN SUBSTANTIALLY THE SAME CONDITION AS OF THE DATE OF
215. THIS PURCHASE AGREEMENT.
216. BUYER 7 HAS HAS NOT RECEIVED A SELLER'S PROPERTY DISCLOSURE STATEMENT OR A
(Check one.;
217. SELLER'S DISCLOSURE ALTERNATIVES FORM.
218. BUYER HAS RECEIVED THE INSPECTION REPORTS, IF REQUIRED BY MUNICIPALITY. SELLER AGREES TO
219. NOTIFY BUYER IMMEDIATELY IN WRITING OF ANY SUBSTANTIVE CHANGES FROM ANY PRIOR
220. REPRESENTATIONS REGARDING THE PROPERTY.
221. IN THE EVENT A SELLER'S DISCLOSURE ALTERNATIVES FORM IS USED IN THIS TRANSACTION, DISREGARD
222. LINES 223 THROUGH 228.
223. BUYER ACKNOWLEDGES THAT NO ORAL REPRESENTATIONS HAVE BEEN MADE REGARDING POSSIBLE
224. PROBLEMS OF WATER IN BASEMENT OR DAMAGE CAUSED BY WATER ICE OR ICE BUILDUP ON ROOF OF
225. THE PROPERTY, AND BUYER RELIES SOLELY IN THAT REGARD ON THE FOLLOWING STATEMENT BY
226. SELLER.
227. SELLER HAS HAS NOT HAD A WET BASEMENT AND HAS fl HAS NOT HAD ROOF, WALL OR
(Check one.; (Check one.;
228. CEILING DAMAGE CAUSED BY WATER OR ICE BUILDUP.
229. DUAL AGENCY REPRESENTATION
230. PLEASE CHECK ONE OF THE FOLLOWING SELECTIONS:
PURCHASE AGREEMENT
208. Address 5601 Logan Ave N
209. Page 6 Date May 12, 2009
231. Dual Agency representation DOES NOT apply in this transaction. Disregard lines 232-248.
232. F Dual Agency representation DOES apply in this transaction. Complete the disclosure in lines 233-248.
233. Broker represents both the Seller(s) and the Buyer(s) of the property involved in this transaction, which creates a
234. dual agency. This means that Broker and its salespersons owe fiduciary duties to both Seller(s) and Buyer(s). Because
235. the parties may have conflicting interests, Broker and its salespersons are prohibited from advocating exclusively for
236. either party. Broker cannot act as a dual agent in this transaction without the consent of both Seller(s) and Buyer(s).
237. Seller(s) and Buyer(s) acknowledge that
238. (1) confidential information communicated to Broker which regards price, terms, or motivation to buy or sell will
239. remain confidential unless Seller(s) or Buyer(s) instructs Broker in writing to disclose this information. Other
240. information will be shared;
241. (2) Broker and its salespersons will not represent the interest of either party to the detriment of the other; and
242. (3) within the limits of dual agency, Broker and its salespersons will work diligently to facilitate the mechanics of
243. the sale.
244. With the knowledge and understanding of the explanation above, Seller(s) and Buyer(s) authorize and instruct Broker
245. and its salesperson to act as dual agents in this transaction.
246. Seller Buyer
247. Seller Buyer
248. Date Date
MN:PA -6 (8/07)
WEBFormsTM Feb/2009
251. OTHER:
252.
253.
254.
255. Other addenda may be attached which are made a part of this Purchase Agreement. (Enter total number of pages of
256. this Purchase Agreement, including addenda, on line two (2) of page one (1).)
257. I, the owner of the property, accept this Purchase I agree to purchase the property for the price and on
258. Agreement and authorize the listing broker to withdraw the terms and conditions set forth above
259. said property from the market, unless instructed I have reviewed all pages of this Purchase
260. otherwise in writing. Agreement.
261. I have reviewed all pages of this Purchase Agreement.
262. If checked, this Purchase Agreement is subject to
263. attached Counteroffer Addendum.
264. X
265. X
266. X
267. X
268. X
MN:PA -7 (8/07)
(Seller's Signature)
(Seller's Printed Name)
(Marital Status)
(Seller's Signature)
(Seller's Printed Name)
(Date)
(Date)
PURCHASE AGREEMENT
249. Address 5601 Logan Ave N
250. Page 7 Date May 12, 2009
X
(Buyer's Signature)
X
(Buyer's Printed Name)
X
(Marital Status)
X
X
(Buyer's Signature) (Date)
(Buyer's Printed Name)
269. X X
(Marital Status) (Marital Status)
(Date)
270. FINAL ACCEPTANCE DATE
271. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S).
272. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
273. I ACKNOWLEDGETHAT I HAVE RECEIVED AND HAVE HADTHE OPPORTUNITYTO REVIEWTHE ARBITRATION
274. DISCLOSURE AND RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT, WHICH IS AN OPTIONAL,
275. VOLUNTARY AGREEMENT AND IS NOT PART OF THIS PURCHASE AGREEMENT.
276. SELLER(S) BUYER(S)
e i 277. SELLER(S) BUYER(S)
wEBForms"" Feb/2009
1. Date
2. Page
3. Addendum to Purchase Agreement between parties, dated May 12
4. pertaining to the purchase and sale of the property at 5601 Logan Ave N
5.
26.
Brooklyn Center MN
TLX:SALE -1 (8/06)
ADDENDUM TO PURCHASE AGREEMENT
DISCLOSURE OF INFORMATION ON
LEAD -BASED PAINT AND LEAD -BASED
PAINT HAZARDS
This form approved by the Minnesota Association of REALTORS
which disclaims any liability arising out of use or misuse of this form.
2006 Minnesota Association of REALTORS®, Edina, MN
May 12, 2009
55430
20 09
6. Section l: Lead Warning Statement
7. Every buyer of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified
8. that such property may present exposure to lead from lead -based paint that may place young children at risk of
9. developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including
10. learning disabilities, reduced intelligence quotient, behavioral problems and impaired memory. Lead poisoning also
11. poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide
12. the buyer with any information on lead -based paint hazards from risk assessments or inspections in the seller's
13. possession and notify the buyer of any known lead -based paint hazards. A risk assessment or inspection for possible
14. lead -based paint hazards is recommended prior to purchase.
15. Seller's Disclosure (initial)
16. (a) Presence of lead -based paint and /or lead -based paint hazards.
17. (Check one below.)
18. Known lead -based paint and/or lead -based paint hazards are present in the housing
19. (explain):
20.
21. Seller has no knowledge of lead -based paint and /or lead -based paint hazards in the housing.
22. (b) Records and reports available to the seller.
23. (Check one below.)
24. Seller has provided Buyer with all available records and reports pertaining to lead -based paint
25. and /or lead -based paint hazards in the housing (list documents below):
27. n Seller has no reports or records pertaining to lead -based paint and /or lead -based paint hazards
28. in the housing.
29. Buyer's Acknowledgment (initial)
30. (c) Buyer has received copies of all information listed under (b) above.
31. (d) Buyer has received the pamphlet, Protect Your Family from Lead in Your Home.
32. (e) Buyer has (check one below):
33. Received a 10 -day opportunity (or mutually agreed -upon period) to conduct a risk assessment
34. or inspection for the presence of lead -based paint and /or lead -based paint hazards (if checked,
35. see Section 11 on page 2); or
36. (l Waived the opportunity to conduct a risk assessment or inspection for the presence of lead
37. based paint and /or lead -based paint hazards.
WEBFonnsTM Nov /2008
46.
(Seller) (Date) (Buyer)
47.
(Seller) (Date) (Buyer)
48.
(Real Estate Licensee) (Date) (Real Estate Licensee)
TLX:SALE -2 (8/06)
ADDENDUM TO PURCHASE AGREEMENT
DISCLOSURE OF INFORMATION ON
LEAD -BASED PAINT AND LEAD -BASED
PAINT HAZARDS
38. Page
39. Property located at 5601 Logan Ave N Brooklyn Center MN 55430
40. Real Estate Licensee's Acknowledgement (initial)
41. (f) Real estate licensee has informed Seller of Seller's obligations under 42 U.S.C. 4852(d) and is aware
42. of licensee's responsibility to ensure compliance.
43. Certification of Accuracy
44. The following parties have reviewed the information above and certify, to the best of their knowledge, that the information
45. provided by the signatory is true and accurate.
(Date)
(Date)
(Date)
49. Section II: Contingency (Initial only if first box under (e) is checked in Buyer's Acknowledgment above.)
50. This contract is contingent upon a risk assessment or an inspection of the property for the presence of lead
51. based paint and /or lead -based paint hazards to be conducted at Buyer's expense. The assessment or inspection
52. shall be completed within ten (10) calendar days after acceptance of the Purchase Agreement. This
(Check one.)
53. contingency shall be deemed removed, and the Purchase Agreement shall be in full force and effect, unless Buyer or
54. real estate licensee representing or assisting Buyer delivers to Seller or real estate licensee representing or assisting
55. Seller, within three (3) calendar days after the assessment or inspection is timely completed, a written list of the specific
56. deficiencies and the corrections required, together with a copy of any risk assessment or inspection report. If Seller
57. and Buyer have not agreed in writing within three (3) calendar days after delivery of the written list of required corrections
58. that: (A) some or all of the required corrections will be made; or (B) Buyer waives the deficiencies; or (C) an adjustment to
59. the purchase price will be made; this Purchase Agreement is canceled. Buyer and Seller shall immediately sign a
60. Cancellation of Purchase Agreement confirming said cancellation and directing all earnest money paid hereunder to
61. be refunded to Buyer. It is understood that Buyer may unilaterally waive deficiencies or defects, or remove this contingency,
62. providing that Buyer or real estate licensee representing or assisting Buyer notifies Seller or real estate licensee
63. representing or assisting Seller of the waiver or removal, in writing, within the time specified.
WEBFonnsTM Nov /2008
AGENCY RELATIONSHIPS IN
T REAL ESTATE TRANSACTIONS BURNE
1. Page 1
2. MINNESOTA LAW REQUIRES that early in any relationship, real estate brokers or salespersons discuss with
3. consumers what type of agency representation or relationship they desire. The available options are listed below. This
4. is not a contract. This is an agency disclosure form only. If you desire representation you must enter into a written
5. contract, according to state law (a listing contract or a buyer representation contract). Until such time as you choose
6. to enter into a written contract for representation, you will be treated as a customer and will not receive any representation
7. from the broker or salesperson. The broker or salesperson will be acting as a Facilitator (see paragraph V on page
8. two (2)), unless the broker or salesperson is representing another party, as described below.
9. ACKNOWLEDGMENT: I/We acknowledge that I/we have been presented with the below- described options.
10. I/We understand that until Uwe have signed a representation contract, I/we am /are not represented by the
11. broker /salesperson. I/We understand that written consent is required for a dual agency relationship.
12. THIS IS A DISCLOSURE ONLY, NOT A CONTRACT FOR REPRESENTATION.
13.
(Signature)
14. I. Seller's Broker: A broker who lists a property, or a salesperson who is licensed to the listing broker, represents
15. the Seller and acts on behalf of the Seller. A Seller's broker owes to the Seller the fiduciary duties described
16. on page two (2). The broker must also disclose to the Buyer material facts as defined in MN Statute 82.22,
17. Subd. 8, of which the broker is aware that could adversely and significantly affect the Buyer's use or enjoyment
18. of the property. If a broker or salesperson working with a Buyer as a customer is representing the Seller, he or
19. she must act in the Seller's best interest and must tell the Seller any information disclosed to him or her, except
20. confidential information acquired in a facilitator relationship (see paragraph V on page two (2)). In that case, the
21. Buyer will not be represented and will not receive advice and counsel from the broker or salesperson.
22. II. Subagent: A broker or salesperson who is working with a Buyer but represents the Seller. In this case, the Buyer
23. is the broker's customer and is not represented by that broker. If a broker or salesperson working with a Buyer as
24. a customer is representing the Seller, he or she must act in the Seller's best interest and must tell the Seller any
25. information that is disclosed to him or her. In that case, the Buyer will not be represented and will not receive advice
26. and counsel from the broker or salesperson.
27. III. Buyer's Broker: A Buyer may enter into an agreement for the broker or salesperson to represent and act on
28. behalf of the Buyer. The broker may represent the Buyer only, and not the Seller, even if he or she is being paid
29. in whole or in part by the Seller. A Buyer's broker owes to the Buyer the fiduciary duties described on page two
30. (2). The broker must disclose to the Buyer material facts as defined in MN Statute 82.22, Subd. 8, of which
31. the broker is aware that could adversely and significantly affect the Buyer's use or enjoyment of the property. If
32. a broker or salesperson working with a Seller as a customer is representing the Buyer, he or she must act in the
33. Buyer's best interest and must tell the Buyer any information disclosed to him or her, except confidential information
34. acquired in a facilitator relationship (see paragraph V on page two (2)). In that case, the Seller will not be represented
35. and will not receive advice and counsel from the broker or salesperson.
36. IV. Dual Agency Broker Representing both Seller and Buyer: Dual agency occurs when one broker or salesperson
37. represents both parties to a transaction, or when two salespersons licensed to the same broker each represent a
38. party to the transaction. Dual agency requires the informed consent of all parties, and means that the broker and
39. salesperson owe the same duties to the Seller and the Buyer. This role limits the level of representation the broker
40. and salesperson can provide, and prohibits them from acting exclusively for either party. In a dual agency, confidential
41. information about price, terms and motivation for pursuing a transaction will be kept confidential unless one party
42. instructs the broker or salesperson in writing to disclose specific information about him or her. Other information
43. will be shared. Dual agents may not advocate for one party to the detriment of the other.
44. Within the limitations described above, dual agents owe to both Seller and Buyer the fiduciary duties described
45. on page two (2).( Dual agents must disclose to Buyers material facts as defined in MN Statute 82.22, Subd. 8, of
46. which the broker is aware that could adversely and significantly affect the Buyer's use or enjoyment of the
47. property.
48.
(initial) (initial)
49.
MN:AGCYDICS -1 (8/07)
COL®WGU.
BANK,en 0
(Date) (Signature)
1 have had the opportunity to review the `Notice Regarding Predatory Offender Information"
on page two. (2)
(Date)
WEBFormsT Nov /2008
AGENCY RELATIONSHIPS IN
REAL ESTATE TRANSACTIONS
50. Page 2
51. V. Facilitator: A broker or salesperson who performs services for a Buyer, a Seller or both but does not represent
52. either in a fiduciary capacity as a Buyer's Broker, Seller's Broker or Dual Agent. THE FACILITATOR BROKER
53. OR SALESPERSON DOES NOT OWE ANY PARTY ANY OF THE FIDUCIARY DUTIES LISTED BELOW,
54. EXCEPT CONFIDENTIALITY, UNLESS THOSE DUTIES ARE INCLUDED IN A WRITTEN FACILITATOR
55. SERVICES AGREEMENT. The facilitator broker or salesperson owes the duty of confidentiality to the party but
56. owes no other duty to the party except those duties required by law or contained in a written facilitator services
57. agreement, if any. In the event a facilitator broker or salesperson working with a Buyer shows a property listed by
58. the facilitator broker or salesperson, then the facilitator broker or salesperson must act as a Seller's Broker (see
59. paragraph I on page one (1)). In the event a facilitator broker or salesperson, working with a Seller, accepts a
60. showing of the property by a Buyer being represented by the facilitator broker or salesperson, then the facilitator
61. broker or salesperson must act as a Buyer's Broker (see paragraph III on page one (1)).
62. (1) This disclosure is required by law in any transaction involving property occupied or intended to be occupied by
63. one to four families as their residence.
64.
65.
66.
67.
68.
69.
70.
71.
72.
The fiduciary duties mentioned above are listed below and have the following meanings:
Loyalty broker /salesperson will act only in client(s)' best interest.
Obedience broker /salesperson will carry out all client(s)' lawful instructions.
Disclosure broker /salesperson will disclose to client(s) all material facts of which broker /salesperson has knowledge
which might reasonably affect the client(s)' use and enjoyment of the property.
Confidentiality broker /salesperson will keep client(s)' confidences unless required by law to disclose specific
information (such as disclosure of material facts to Buyers).
Reasonable Care broker /salesperson will use reasonable care in performing duties as an agent.
Accounting broker /salesperson will account to client(s) for all client(s)' money and property received as agent.
73. (3) If Seller(s) decide(s) not to agree to a dual agency relationship, Seller(s) may give up the opportunity to sell the
74. property to Buyers represented by the broker /salesperson. If Buyer(s) decide(s) not to agree to a dual agency
75. relationship, Buyer(s) may give up the opportunity to purchase properties listed by the broker.
76. NOTICE REGARDING PREDATORY OFFENDER INFORMATION: Information regarding the predatory offender
77. registry and persons registered with the predatory offender registry under MN Statute 243.166 may be
78. obtained by contacting the local law enforcement offices in the community where the property is located,
79. or the Minnesota Department of Corrections at (651) 361 -7200, or from the Department of Corrections Web site at
80. www.corr.state.mn.us.
MN:AGCYDISC -2 (8/07)
WEBForms"' Nov /2008
ARBITRATION DISCLOSURE AND
RESIDENTIAL REAL PROPERTY
ARBITRATION AGREEMENT
This form approved by the Minnesota Association of REALTORS
which disclaims any liability arising out of use or misuse of this form.
m 2008 Minnesota Association of REALTORS Edina, MN
1. Page 1
2. ARBITRATION DISCLOSURE
3. You have the right to choose whether to have any disputes about disclosure of material facts affecting the use
4. or enjoyment of the property that you are buying or selling decided by binding arbitration or by a court of law. By agreeing
5. to binding arbitration, you give up your right to go to court. By signing the RESIDENTIAL REAL PROPERTY
6. ARBITRATION AGREEMENT (ARBITRATION AGREEMENT) below, you agree to binding arbitration under the
7. Residential Real Property Arbitration System (Arbitration System) administered by Construction Arbitration Services, Inc.
8. (CAS) and endorsed by the Minnesota Association of REALTORS (MNAR). The ARBITRATION AGREEMENT is
9. enforceable only if it is signed by all buyers, sellers and licensees representing or assisting the buyers and the sellers.
10. The ARBITRATION AGREEMENT is not part of the Purchase Agreement. Your Purchase Agreement will still be
11. valid whether or not you sign the ARBITRATION AGREEMENT.
12. The Arbitration System is a private dispute resolution system offered as an alternative to the court system. It
13. is not government sponsored. CAS and the MNAR jointly adopt the rules that govern the Arbitration System. CAS and
14. the MNAR are not affiliated. Under the ARBITRATION AGREEMENT you must use the arbitration services of CAS.
15. All disputes about or relating to disclosure of material facts affecting the use or enjoyment of the property, excluding
16. disputes related to title issues, are subject to arbitration under the ARBITRATION AGREEMENT. This includes claims
17. of fraud, misrepresentation, warranty and negligence. Nothing in this Agreement limits other rights you may have under
18. MN Statute 327A (statutory new home warranties) or under private contracts for warranty coverage. An agreement to
19. arbitrate does not prevent a party from contacting the Minnesota Department of Commerce, the state agency that
20. regulates the real estate profession, about licensee compliance with state law.
21. The administrative fee for the Arbitration System varies depending on the amount of the claim, but it is more
22. than initial court filing fees. In some cases, conciliation court is cheaper than arbitration. The maximum claim allowed
23. in conciliation court is $7,500. This amount is subject to future change. In some cases, it is quicker and less expensive
24. to arbitrate disputes than to go to court, but the time to file your claim and pre- hearing discovery rights are limited. The
25. right to appeal an arbitrator's award is very limited compared to the right to appeal a court decision.
26. A request for arbitration must be filed within 24 months of the date of the closing on the property or
27. else the claim cannot be pursued. In some cases of fraud, a court or arbitrator may extend the 24 -month
28. limitation period provided herein.
29. A party who wants to arbitrate a dispute files a Demand, along with the appropriate administrative fee, with
30. CAS. CAS notifies the other party, who may file a response. CAS works with the parties to select and appoint an arbitrator
31. to hear and decide the dispute. A three arbitrator panel will be appointed instead of a single arbitrator at the request
32. of any party. The party requesting a panel must pay an additional fee. Arbitrators have backgrounds in law, real estate,
33. architecture, engineering, construction or other related fields.
34. Arbitration hearings are usually held at the home site. Parties are notified about the hearing at least 14 days in
35. advance. A party may be represented by a lawyer at the hearing if he or she gives five (5) days advance notice to the
36. other party and to CAS. Each party may present evidence, including documents or testimony by witnesses.The arbitrator
37. must make any award within 30 days from the final hearing date. The award must be in writing and may provide any
38. remedy the arbitrator considers just and equitable that is within the scope of the parties' agreement. The arbitrator
39. does not have to make findings of fact that explain the reason for granting or denying an award. The arbitrator may
40. require the party who does not prevail to pay the administrative fee.
41. This Arbitration Disclosure provides only a general description of the Arbitration System and a general
42. overview of the Arbitration System rules. For specific information regarding the administrative fee, please see the
43. Fee Schedule located in the CAS Rules. Copies of the Arbitration System rules are available from CAS by calling
44. (866) 727 -8119 Ext. 103 or on the Web at www.cas usa.org or from your REALTOR If you have any questions about
45. arbitration, call CAS at (866) 727 -8119 Ext. 103 or consult a lawyer.
46. THE RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT IS A LEGALLY BINDING CONTRACT
47. BETWEEN BUYERS, SELLERS AND LICENSEES. IF YOU DESIRE LEGAL ADVICE, CONSULT A LAWYER.
MN:ADRAA -1 (8/08)
WEBFormsn' Feb/2009
ARBITRATION DISCLOSURE AND
RESIDENTIAL REAL PROPERTY
ARBITRATION AGREEMENT
48. Page 2
49. THIS IS AN OPTIONAL, VOLUNTARY AGREEMENT.
50. READ THE ARBITRATION DISCLOSURE ON PAGE ONE IN FULL BEFORE SIGNING.
51. RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT
52. For the property located at 5601 Logan Ave N
53. City of Brooklyn Center County of Hennepin State of Minnesota.
54. Any dispute between the undersigned parties, or any of them, about or relating to material facts affecting the use or
55. enjoyment of the property, excluding disputes related to title issues of the property covered by the Purchase Agreement
56. dated May 12 20 09 including claims of fraud, misrepresentation, warranty and
57. negligence, shall be settled by binding arbitration. Construction Arbitration Services, Inc. shall be the arbitration service
58. provider. The rules adopted by Construction Arbitration Services, Inc. and the Minnesota Association of REALTORS®
59. shall govern the proceeding(s). The rules that shall govern the proceeding(s) are those rules in effect at the time the
60. Demand for Arbitration is filed and include the rules specified in the Arbitration Disclosure above. This Agreement shall
61. survive the delivery of the deed or contract for deed in the Purchase Agreement. This Agreement is only enforceable if
62. all buyers, sellers and licensees representing or assisting the buyers and sellers have agreed to arbitrate as acknowledged
63. by signatures below.
64.
(Seller's Signature)
65.
(Seller's Printed Name)
66.
(Seller's Signature)
67.
(Seller's Printed Name)
68.
(Licensee Representing or Assisting Seller)
69 Coldwell Banker Burnet
(Company Name)
MN:ADRAA -2 (8/08)
(Date)
(Date)
(Date)
(Buyer's Signature)
(Buyer's Printed Name)
(Buyer's Signature)
(Buyer's Printed Name)
(Licensee Representing or Assisting Buyer)
Coldwell Banker Burnet
(Company Name)
70. THE RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT IS A LEGALLY BINDING CONTRACT
71. BETWEEN BUYERS, SELLERS AND LICENSEES. IF YOU DESIRE LEGAL ADVICE, CONSULT A LAWYER.
(Date)
(Date)
(Date)
WEBFormsn" Feb/2009
5.
MN:BPAIA -1 (8/06)
BURNT
4. to the purchase and sale of the property at 5601 Logan Ave N
Brooklyn Center
BUYER PURCHASING "AS IS" ADDENDUM
This form approved by the Minnesota Association of REALTORS®,
which disclaims any liability arising out of use or misuse of this form.
2006 Minnesota Association of REALTORS Edina, MN
1. Date May 12, 2009
2. Page
3. Addendum to Purchase Agreement between parties, dated May 12 20 09 pertaining
MN 55430
6. DISCLOSURE REQUIRED: Under Minnesota law, Sellers of residential property, except by waiver or with limited
7. exceptions, are obligated to disclose to prospective Buyers all material facts of which Seller is aware that could adversely
8. and significantly affect an ordinary Buyer's use or enjoyment of the property or any intended use of the property of
9. which Seller is aware. Such a disclosure is not a warranty or a guarantee of any kind by Seller or licensee representing
10. or assisting any party in the transaction. Seller agrees to notify Buyer immediately in writing of any substantive changes
11. from any prior representations regarding the property.
12. (Check appropriate box.)
13. Buyer has received and had an opportunity to review the Seller's Property Disclosure Statement;
14. or
15. n Buyer has received and had an opportunity to review the Seller's Disclosure Alternatives form.
16. CONDITION OF PROPERTY: The property being purchased by Buyer, including the dwelling, other improvements
17. and fixtures, is not new and is being purchased "AS IS
18. Buyer understands that the property, as defined above, will be purchased in the condition it is in at the time of Purchase
19. Agreement. Buyer shall have the right to a walk- through review of the property prior to closing. To the extent there
20. is a material change in the condition of the property arising between the date of the Purchase Agreement and the
21. closing date, Seller shall be responsible for restoring the property to substantially the same condition it was in on the
22. date of the Purchase Agreement, except that Seller shall have NO OBLIGATION OR RESPONSIBILITY to repair or
23. replace central air conditioning, heating, plumbing (including individual sewage treatment systems, unless otherwise
24. required by law), wiring systems or wells on the property if they fail between the date of Purchase Agreement and the
25. date of closing. This provision voids lines 210 -212 of the Purchase Agreement.
26. RISK OF LOSS: The Risk of Loss provision in the Purchase Agreement is modified as follows. If there is any Toss
27. or damage to the property between the date of Purchase Agreement and the date of closing for any reason, including fire,
28. vandalism, flood, earthquake or act of God, the risk of Toss shall be on Seller except that Seller shall have NO
29. OBLIGATION OR RESPONSIBILITY to repair or replace central air conditioning, heating, plumbing (including individual
30. sewage treatment systems, unless otherwise required by law), wiring systems or wells on the property if they fail between
31. the date of Purchase Agreement and the date of closing. If the property is destroyed or substantially damaged before
32. the closing date, this Purchase Agreement is canceled, at Buyer's option, by written notice to Seller or licensee
33. representing or assisting Seller. If Buyer cancels this Purchase Agreement, Buyer and Seller shall immediately sign
34. a Cancellation of Purchase Agreement confirming said cancellation and directing all earnest money paid hereunder
35. to be refunded to Buyer.
36. RIGHT OF INSPECTION: Buyer shall have the right to inspect the property or to have it inspected by a person of
37. Buyer's choice, at Buyer's expense.
38. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S).
39. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
WEBForms Nov /2008
41. Property located at 5601 Logan Ave N
42. SETTLEMENT IS FINAL: It is understood that Buyer accepts the property "AS IS." ANY WARRANTIES OF PHYSICAL
43. CONDITION OF THE PROPERTY CONTAINED IN THIS PURCHASE AGREEMENT INCLUDING, BUT NOT LIMITED
44. TO, CENTRAL AIR CONDITIONING, HEATING, PLUMBING, WIRING, AND CONNECTION TO CITY SEWER AND
45. CITY WATER ARE VOID. This provision shall survive delivery of the deed or contract for deed. All other warranties
46. specified in the Purchase Agreement remain the same.
47. OTHER:
48.
49.
50.
51.
52.
53.
54.
55.
56.
57.
58.
59.
60.
BUYER PURCHASING "AS IS" ADDENDUM
40. Page
Brooklyn Center
MN 55430
61.
(Seller) (Date) (Buyer) (Date)
62.
(Seller) (Date) (Buyer) (Date)
63. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S).
64. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
MN:BPAIA -2 (8/06)
WEBFonns Nov /2008
9.
10. From Buyer
11.
MN:CDB (8/06)
2. If Broker is receiving any compensation from a party other than Buyer, the following discloses such compensation.
3. Pursuant to Contract for Right to Represent Buyer dated
4. undersigned Buyer and Broker, and relating to the purchase of property located at 5601 Logan Ave N
5 Brooklyn Center MN 55430
6. it is understood that the Broker hereby notifies Buyer that the amount of compensation to be paid to Broker is
7. (check all that apply):
8. From Seller or Seller's Broker
COMPENSATION DISCLOSURE TO BUYER
This form approved by the Minnesota Association of REALTORS
which disclaims any liability arising out of use or misuse of this form.
CO 2006 Minnesota Association of REALTORS Edina, MN
1. Date May 12, 2009
20 between the
of sale price.
of sale price.
I/We hereby acknowledge that I /we have received a copy of this Compensation Disclosure prior to signing an offer to
purchase the property.
12.
13.
14. Coldwell Banker Burnet
(Real Estate Company Name) (Date) (Buyer)
15. By:
(Agent) (Date) (Buyer)
16. 5516 Lyndale Ave S
(Address) (Address)
17 Minneapolis MN 55419 -17`
(Address) (Address)
(Date)
(Date)
WEBFormsTM Nov /2008
3.
4.
Coldwell Banker Burnet
CONTRACT FOR EXCLUSIVE
RIGHTTO REPRESENT BUYER
This form approved by the Minnesota Association of REALTORS®,
which disclaims any liability arising out of use or misuse of this form.
2007 Minnesota Association of REALTORS Edina, MN
1. Date May 12, 2009
2. Page 1 of pages
(Buyer) gives
Buyer's broker
(Real Estate Company Name)
5. (Broker), the exclusive right to locate and /or to assist in negotiations for the purchase, exchange of or option to
6. purchase (Purchase) property at a price and with terms acceptable to Buyer. This Agreement starts on
7. 20 and ends at 11:59 p.m. on 20
8. This Agreement may be canceled by written mutual agreement of the parties.
9. BROKER'S OBLIGATION: Broker shall:
10. 1. make a reasonable effort to locate property acceptable to Buyer,
11. 2. use professional knowledge and skills to assist in negotiations for the Purchase of property,
12. 3. assist Buyer throughout the transaction,
13. 4. act in Buyer's best interest at all times,
14. 5. comply with all applicable fair housing and nondiscrimination regulations.
15. BUYER'S OBLIGATION: Buyer shall:
16. 1. work exclusively with Broker for the Purchase of property,
17. 2. provide Broker with accurate and relevant personal financial information to determine Buyer's ability to Purchase
18. property,
19. 3. cooperate with Broker in finding a property to Purchase. After a purchase agreement has been accepted by
20. seller, Buyer is legally obligated to Purchase the property. If Buyer refuses to close the Purchase for any reason
21. other than the failure of seller to perform, subject to relevant contingencies, Buyer shall pay Broker all
22. compensation due under this Agreement.
23. NOTICE: THE COMPENSATION FOR THE PURCHASE, LEASE, RENTAL OR MANAGEMENT OF REAL
24. PROPERTY SHALL BE DETERMINED BETWEEN EACH INDIVIDUAL BROKER ANDTHE BROKER'S
25. CLIENT.
26. COMPENSATION:
27. (Fill in all blanks.)
28. Buyer agrees to compensate Broker if Buyer or any other person acting on Buyer's behalf agrees to Purchase any
29. property during the term of this Agreement.
30. 1. Buyer shall pay Broker a retainer fee of when Buyer signs this Agreement. Broker
31. will keep this fee even if Buyer does not Purchase property. The retainer paid shall apply toward satisfaction of
32. Buyer's obligation to compensate Broker.
33. 2. Buyer shall pay Broker a commission of percent of the Purchase price of the property or
34. whichever is greater, when Buyer closes the Purchase, if:
35. A: Buyer Purchases or agrees to Purchase a property before the end of this Agreement, even if Buyer does not
36. use Broker's services; or
37. B: within days (not to exceed six (6) months) after the end of this Agreement, Buyer Purchases property
38. which either Broker or Broker's salesperson has physically shown Buyer or in which Buyer has made an
39. affirmative showing of interest to Broker or Broker's salesperson before the end of this Agreement, as long as
40. Broker has identified this property on a written list Broker gives to Buyer within 72 hours after the end of this
41. Agreement.
42. Broker is authorized to negotiate and receive compensation paid by seller, or broker representing or assisting seller, if Broker
43. tells Buyer in writing before Buyer signs an offer to Purchase the property. Any compensation accepted by Broker from seller,
44. or broker representing or assisting seller, SHALL SHALL NOT reduce any obligation of Buyer to pay the
(Check one.)
45. compensation by the amount received by seller or broker.
46. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER AND BROKER.
47. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
MN:CERB -1 (8/07)
WEBFonnsn' Nov /2006
CONTRACT FOR EXCLUSIVE
RIGHT TO REPRESENT BUYER
48. Page 2
49. Buyer shall not be obligated to compensate Broker if, upon expiration of this Agreement, Buyer has entered into
50. another valid Contract for Exclusive or Nonexclusive Right to Represent Buyer, pursuant to which Buyer is obligated
51. to compensate another broker for Purchase of real property.
52. CAUTION: BUYER'S ACTIONS IN LOCATING A PROPERTY MAY AFFECT PAYMENT OF COMPENSATION BY
53. SELLER(S) AND MAYTHEREFORE OBLIGATE BUYERTO PAY ALL OR PART OFTHE COMPENSATION
54. IN CASH AT CLOSING. FOR EXAMPLE: THE ACT OF GOING THROUGH AN OPEN HOUSE
55. UNACCOMPANIED BYYOUR BROKER OR BROKER'S SALESPERSON OR SIGNING A PURCHASE
56. AGREEMENT THROUGH ANOTHER BROKER OR WITH OWNER (FOR SALE BY OWNER) MAY
57. REQUIRE YOUR PAYMENT OF THE FULL COMPENSATION TO YOUR BROKER.
58. OTHER POTENTIAL BUYERS: Broker may represent or work with other potential buyers for the same property before,
59. during and after the expiration of this Agreement. Other potential buyers may consider, make offers or Purchase through
60. Broker the same or similar properties as Buyer is seeking to acquire.
61. PREVIOUS AGENCY RELATIONSHIPS: Broker and salesperson may have had a previous agency relationship with
62. a seller of a property Buyer is interested in Purchasing. Buyer acknowledges that Buyer's Broker or salesperson is
63. legally required to keep information regarding the ultimate price and terms the seller would accept and the motivation
64. for selling confidential, if known.
65. PRIVATE INSPECTION/WARRANTY: Broker recommends that Buyer obtain a private home inspection to satisfy
66. himself /herself with the physical condition of the property. Furthermore, there are warranty programs available for some
67. properties which warrant the performance of certain components of a property, which warranty programs Buyer may
68. wish to investigate prior to a Purchase of any specific property.
69. GENERAL NATURE OF PROPERTY:
70. (Including the following property types: existing, new construction or to- be- built.)
71. (Check all that apply.)
72. Commercial /Industrial n Farm Recreation
73. Residential /Investment Residential /Personal Vacant Land
74. CLOSING SERVICES:
75. NOTICE: THE REAL ESTATE BROKER, REAL ESTATE SALESPERSON OR REAL ESTATE CLOSING AGENT
76. HAS NOT EXPRESSED AND, UNDER APPLICABLE STATE LAW, MAY NOT EXPRESS OPINIONS
77. REGARDING THE LEGAL EFFECT OF THE CLOSING DOCUMENTS OR OF THE CLOSING ITSELF.
78. After a purchase agreement for the property is signed, arrangements must be made to close the transaction.
79. Buyer understands that no one can require Buyer to use a particular person in connection with a real estate closing
80. and that Buyer may arrange for a qualified closing agent or Buyer's attorney to conduct the closing.
81. ADDITIONAL COSTS: Buyer acknowledges that Buyer may be required to pay certain closing costs, which may
82. effectively increase the cash outlay at closing.
83. My choice for closing services.
84. (Initial one.)
85. Buyer wishes to have Broker arrange for the closing.
(Buyer) (Buyer)
86. Buyer shall arrange for a qualified closing agent or Buyer's attorney to conduct the closing.
(Buyer) (Buyer)
87. OTHER:
88.
89.
90.
91. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER AND BROKER.
92. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
MN:CERB -2 (8/07)
WEBForms'' Nov /2008
126.
127.
CONTRACT FOR EXCLUSIVE
RIGHTTO REPRESENT BUYER
93. Page 3
94. AGENCY REPRESENTATION: If the Buyer(s) chooses to purchase a property listed by Broker, a dual agency will be
95. created. This means that Broker will represent both the Buyer(s) and the Seller(s), and owe the same duties to the
96. Seller(s) that Broker owes to the Buyer(s). This conflict of interest will prohibit Broker from advocating exclusively
97. on the Buyer(s) behalf. Dual agency will limit the level of representation Broker can provide. If a dual agency should
98. arise, the Buyer(s) will need to agree that confidential information about price, terms and motivation will still be kept
99. confidential unless the Buyer(s) instructs Broker in writing to disclose specific information about the Buyer(s). All other
100. information will be shared. Broker cannot act as a dual agent unless both the Buyer(s) and the Seller(s) agree to it.
101. By agreeing to a possible dual agency, the Buyer(s) will be giving up the right to exclusive representation in an in -house
102. transaction. However, if the Buyer(s) should decide not to agree to a possible dual agency, and the Buyer(s) wants
103. Broker to represent the Buyer(s), the Buyer(s) may give up the opportunity to purchase the properties listed by
104. Broker.
105. Buyer's Instructions to Broker:
106. Buyer(s) will agree to a dual agency representation and will consider properties listed by Broker.
107. n Buyer(s) will not agree to a dual agency representation and will not consider properties listed by Broker.
108. Real Estate Company Name: Coldwell Banker Burnet
109. Buyer:
110. By: Buyer:
(Salesperson)
111. Date:
112. NOTICE REGARDING PREDATORY OFFENDER INFORMATION: Information regarding the predatory
113. offender registry and persons registered with the predatory offender registry under MN Statute 243.166 may
114. be obtained by contacting the local law enforcement offices in the community where the property is located
115. or the Minnesota Department of Corrections at (651) 361 -7200, or from the Department of Corrections web site at
116. www.corr.state.mn.us.
117. ADDITIONAL NOTICES AND TERMS: If either Buyer or Broker brings an action for enforcement of this Agreement,
118. the prevailing party in such action shall be entitled to recover all costs and expenses including all reasonable attorneys'
119. fees and court costs.
120. CONSENT FOR COMMUNICATION: Buyer authorizes Broker and its salespersons to contact Buyer by mail,
121. phone, fax, e-mail or other means of communication during the term of this Agreement and any time thereafter.
122. Coldwell Banker Burnet
(Real Estate Company Name)
123. (By)
MN:CERB -3 (8/07)
(Licensee)
124. 5516 Lyndale Ave S
(Address)
Minneapolis
(Date) (Buyer)
(Buyer) (Date)
(Address)
125. 612- 827 -4781
(Phone) (Phone)
THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER AND BROKER.
IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
(Date)
WEBForms Nov /2008
U.S.Department of Housing PZMEN
Federal Housing Administration Urban Development
1 Administration (FHA) y y
For Your Protection:
Get a Home Inspection
Why a Buyer Needs a Home Inspection
A home inspection gives the buyer more detailed information about the overall condition of the home prior
to purchase. In a home inspection, a qualified inspector takes an in- depth, unbiased look at your potential
new home to:
Evaluate the physical condition: structure, construction, and mechanical systems;
Identify items that need to be repaired or replaced; and
Estimate the remaining useful life of the major systems, equipment, structure, and finishes.
Appraisals are Different from Home Inspections
An appraisal is different from a home inspection. Appraisals are for lenders; home inspections are for buyers.
An appraisal is required to:
Estimate the market value of a house;
V Make sure that the house meets FHA minimum property standards /requirements; and
Make sure that the property is marketable.
FHA Does Not Guarantee the Value or Condition of your Potential New Home
if you find problems with your new home after dosing, FHA can not give or lend you money for repairs,
and FHA can not buy the home back from you. That is why it is so important for you, the buyer, to get
an independent home inspection. Ask a qualified home inspector to inspect your potential new home
and give you the information you need to make a wise decision.
OMB Approval No: 2502 -0538
(exp.07/31/2009)
Radon Gas Testing
The United States Environmental Protection Agency and the Surgeon General of the United States have
recommended that all houses should be tested for radon. For more information on radon testing, call the
toll -free National Radon Information Line at 1- 800 -SOS -Radon or 1- 800 767 -7236. As with a home inspection,
if you decide to test for radon, you may do so before signing your contract, or you may do so after signing the
contract as long as your contract states the sale of the home depends on your satisfaction with the results of
the radon test.
Be an Informed Buyer
It is your responsibility to be an informed buyer. Be sure that what you buy is satisfactory in every respect. You
have the right to carefully examine your potential new home with a qualified home inspector. You may
arrange to do so before signing your contract, or may do so after signing the contract as long as your contract
states that the sale of the home depends on the inspection.
HUD-92S64-CN (6/06) Fiii)t
3.
4.
39.
40.
MN:ICA -1 (8/07)
INSPECTION CONTINGENCY ADDENDUM
This form approved by the Minnesota Association of REALTORS
which disclaims any liability arising out of use or misuse of this form.
2007 Minnesota Association of REALTORS Edina, MN
1. Date May 12, 2009
2. Page
THE PROPERTY, IF NOT NEW, CANNOT BE EXPECTED TO BE IN NEW CONDITION.
ROUTINE MAINTENANCE ITEMS ARE NOT PART OF THIS ADDENDUM.
5. Addendum to Purchase Agreement between parties, dated May 12 20 09 pertaining
6. to the purchase and sale of the property at 5601 Logan Ave N
7 Brooklyn Center 55430
8. This Purchase Agreement is contingent upon a complete home inspection(s) of the property to determine its condition.
9. Any and all inspections performed by Buyer shall constitute a complete home inspection(s).
10. Any inspection(s) shall be done by an Inspector(s) of Buyer's choice. The Inspector(s) should be qualified to do the
11. inspection(s), as evidenced by a license or professional designation. Buyer shall satisfy Buyer as to the qualifications
12. of the Inspector(s).
13. Said inspection(s) shall be at Buyer's sole expense.
14. Seller agrees to make the property reasonably available for said inspection(s).
15. Any inspection(s) or test(s) done by FHA, DVA or any other governmental unit shall be done and paid for in accordance
16. with the applicable regulations and are not part of this Inspection Contingency Addendum.
17. Buyer shall not have the right to do intrusive testing without the prior written authorization of Seller.
18. For purposes of this form, "intrusive testing" shall mean any testing, inspection(s) or investigation(s) that changes the
19. property from its original condition or otherwise damages the property.
20. Seller DOES DOES NOT agree to allow Buyer to perform intrusive testing or inspection(s).
(Check one.;
21. If answer is DOES, Buyer agrees that the property shall be returned to the same condition it was in prior to Buyer's
22. intrusive testing at Buyer's sole expense.
23. For the purposes of this Addendum, "business days" shall end at 11:59 p.m. and do not include Saturdays,
24. Sundays and state and federal holidays.
25. All inspection(s) shall be done within business days of final acceptance of this Purchase Agreement.
26. Buyer shall have these options following inspection(s):
27. (1) If Buyer, or licensee representing or assisting Buyer, identifies any issues pertaining to the property resulting
28. from the inspection(s) and intends to negotiate the identified issues with Seller, then Buyer, or licensee
29. representing or assisting Buyer, shall notify Seller, or licensee representing or assisting Seller, in writing,
30. describing the issues and proposed remedy, within
31. period specified on line 25.
business days after expiration of the time
32. If Buyer, or licensee representing or assisting Buyer, notifies Seller, or licensee representing or assisting
33. Seller, of the identified issues and proposed remedy, and if within business days after such
34. notice Buyer and Seller have not agreed in writing to a remedy of the identified issues, this Purchase Agreement
35. is canceled without further notice required. Buyer and Seller shall immediately sign a Cancellation of
36. Purchase Agreement confirming said cancellation and directing all earnest money paid hereunder to be
37. refunded to Buyer, and thereafter neither party shall have any further liability to the other.
38. And /or;
THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S).
IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
WEBForms Nov /2008
60. the property for sale until this Contingency is removed.
61.
(Seller)
62.
(Seller)
MN:ICA 2 (8/07)
(Date) (Buyer)
(Date) (Buyer)
INSPECTION CONTINGENCY ADDENDUM
41. Date May 12, 2009
42. Page
43. Property located at 5601 Logan Ave N Brooklyn Center 55430
44. (2) Notwithstanding any provision to the contrary or any notice given, Buyer may unilaterally waive any issues,
45. providing that Buyer, or licensee representing or assisting Buyer, notifies Seller, or licensee representing or
46. assisting Seller, of waiver in writing, within the time specified on line 33.
47. And /or;
48. (3) Notwithstanding any other provision of this Purchase Agreement, Buyer may, based on the inspection(s),
49. declare this Purchase Agreement canceled by written notice to Seller, or licensee representing or assisting
50. Seller, within business days after expiration of the time period specified on line 25, in which case
51. this Purchase Agreement is canceled.
52. In the event Buyer declares this Purchase Agreement canceled, Buyer and Seller shall immediately sign
53. a Cancellation of Purchase Agreement confirming said cancellation and directing all earnest money paid
54. hereunder to be refunded to Buyer.
55. If Buyer fails to have the inspection(s) performed within the time specified in line 25, or does not notify Seller, or licensee
56. representing or assisting Seller, of Buyer's decision within the time specified in lines 30 and 50, then this Contingency
57. shall be deemed removed and this Purchase Agreement shall be in full force and effect.
58. Nothing herein invalidates the warranties agreed to in lines 210 -212 of this Purchase Agreement.
59. Seller, or licensee representing or assisting Seller, SHALL SHALL NOT have the right to continue to offer
(Check one.;
63. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S).
64. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
(Date)
(Date)
WEBForms Nov /2008
24.
25.
26.
27.
28.
31.
32.
33.
34.
35.
MN:SDA -1 (8/08)
SELLER'S DISCLOSURE ALTERNATIVES
This form approved by the Minnesota Association of REALTORS®,
which disclaims any liability arising out of use or misuse of this form.
2008 Minnesota Association of REALTORS Edina, MN
1. Date May 12, 2009
2. Page 1 of pages
3. Property located at 5601 Logan Ave N
4. City of Brooklyn Center County of Hennepin State of Minnesota.
5. NOTICE
6. Sellers of residential property, with limited exceptions, are obligated to satisfy the requirements of MN Statutes 513.52
7. through 513.60. To comply with the statute, Seller must provide either a written disclosure to the prospective
8. Buyer (see Seller's Property Disclosure Statement) or satisfy one of the following two options:
9. (Select one option only.)
10. 1) QUALIFIED THIRD -PARTY INSPECTION: Seller shall provide to prospective Buyer a written report that
11. discloses material information relating to the real property that has been prepared by a qualified third party.
12. "Qualified third party" means a federal, state or local governmental agency, or any person whom Seller or
13. prospective Buyer reasonably believes has the expertise necessary to meet the industry standards of practice
14. for the type of inspection or investigation that has been conducted by the third party in order to prepare the
15. written report.
16. Seller shall disclose to prospective Buyer material facts known by Seller that contradict any information
17. that is included in a written report, or material facts known by Seller that are not included in the
18. report.
19. The inspection report was prepared by
20.
21. and dated 20
22. Seller discloses to Buyer the following material facts known by Seller that contradict any information included
23. in the above referenced inspection report.
29. Seller discloses to Buyer the following material facts known by Seller that are not included in the above
30. referenced inspection report.
36. 2) WAIVER: The written disclosure required may be waived if Seller and prospective Buyer agree in writing. Seller
37. and Buyer hereby waive the written disclosure required under MN Statutes 513.52 through 513.60.
38. Waiver of the disclosure required under MN Statutes 513.52 through 513.60 does not waive, limit or
39. abridge any obligation for Seller disclosure created by any other law.
40. ORIGINAL COPY TO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BROKER.
WEBFormsTM Nov /2008
SELLER'S DISCLOSURE ALTERNATIVES
41. Page 2
42. Property located at 5601 Logan Ave N Brooklyn Center
43. OTHER REQUIRED DISCLOSURES:
44. NOTE: In addition to electing one of the above alternatives to the material fact disclosure, Minnesota law also
45. requires sellers to provide other disclosures to prospective buyers, such as those disclosures listed below.
46. Additionally, there may be other required disclosures by federal, state, local or other governmental entities
47. that are not listed below.
48. A. PRIVATE SEWER SYSTEM DISCLOSURE: (A private sewer system disclosure is required by MN Statute 115.55.)
49. (Check appropriate box.)
50. Seller does not know of a private sewer system on or serving the above described real property.
51. There is a private sewer system on or serving the above described real property.
52. (See Private Sewer System Disclosure Statement.)
53. n There is an abandoned private sewer system on the above described real property.
54. (See Private Sewer System Disclosure Statement.)
55. B. PRIVATE WELL DISCLOSURE: (A well disclosure and Certificate are required by MN Statute 1031.235.)
56. (Check appropriate box.)
57. n Seller certifies that Seller does not know of any wells on the above described real property.
58. n Seller certifies there are one or more wells located on the above described real property.
59. (See Well Disclosure Statement.)
60. Are there any wells serving the above described property that are not located on the property? LI Yes No
61. Contaminated Well: Is there a well on or serving the property that contains contaminated water? ❑Yes No
62. To your knowledge, is the property in a Special Well Construction Area? fYes No
63. Comments:
64.
65.
66. C. VALUATION EXCLUSION DISCLOSURE: (Required by MN Statute 273.11, Subd. 16)
67. There IS IS NOT an exclusion from market value for home improvements on this property. Any valuation
(Check one.)
68. exclusion shall terminate upon sale of the property, and the property's estimated market value for property tax purposes
69. shall increase. If a valuation exclusion exists, Buyers are encouraged to look into the resulting tax
70. consequences.
71. Additional comments'
72.
73. D. METHAMPHETAMINE PRODUCTION DISCLOSURE:
74. (A methamphetamine production disclosure is required by MN Statute 152.0275, Subd. 2 (m).)
75. Seller is not aware of any methamphetamine production that has occurred on the property.
76. n Seller is aware that methamphetamine production has occurred on the property.
77. (See Methamphetamine Production Disclosure Statement.)
78. E. NOTICE REGARDING AIRPORT ZONING REGULATIONS: The property may be in or near an airport safety zone
79. with zoning regulations adopted by the governing body that may affect the property. Such zoning regulations are
80. filed with the county recorder in each county where the zoned area is located. If you would like to determine if such
81. zoning regulations affect the property, you should contact the county recorder where the zoned area is located.
82. ORIGINAL COPY TO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BROKER.
MN:SDA -2 (8/08)
WEBFonnsn' Nov /2008
SELLER'S DISCLOSURE ALTERNATIVES
83. Page 3
84. Property located at 5601 Logan Ave N Brooklyn Center
85. F. Buyer has had the opportunity to review page four (4) of this Agreement.
(Initial) (Initial)
86. G. NOTICE REGARDING PREDATORY OFFENDER INFORMATION: Information regarding the predatory
87. offender registry and persons registered with the predatory offender registry under MN Statute 243.166
88. may be obtained by contacting the local law enforcement offices in the community where the property is
89. located or the Minnesota Department of Corrections at (651) 361 -7200, or from the Department of Corrections
90. web site at www.corr.state.mn.us.
91. H. SELLER'S STATEMENT:
92. (To be signed at time of listing.)
93. Seller(s) hereby authorizes any licensee(s) representing or assisting any party(ies) in this transaction to provide
94. a copy of this Disclosure to any person or entity in connection with any actual or anticipated sale of the property.
95.
96. I. BUYER'S ACKNOWLEDGEMENT:
97. (To be signed at time of purchase agreement.)
98. I/We, the Buyer(s) of the property, acknowledge receipt of this SELLER'S DISCLOSURE ALTERNATIVES form
99. and agree to the seller's disclosure option selected in this form. l/We further agree that no representations regarding
100. material facts have been made, other than those made in this form.
101.
103.
104.
105.
106.
107.
112.
113.
114.
115.
116.
117.
(Seller) (Date) (Seller) (Date)
(Buyer)
102. J. ADDITIONAL DISCLOSURES:
108. K. SELLER'S ACKNOWLEDGEMENT:
109. (To be signed at time of purchase agreement.)
110. AS OF THE DATE BELOW, I /we, the Seller(s) of the property, state that the material facts are the same, except
111. for changes as indicated below, which have been signed and dated.
(Seller)
MN:SDA -3 (8/08)
(Date) (Buyer) (Date)
(Date) (Seller)
118. ORIGINAL COPY TO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BROKER.
(Date)
WEBForms Nov /2008
120. L. OTHER INFORMATION:
SELLER'S DISCLOSURE ALTERNATIVES
119. Page 4
121. WATER INTRUSION AND MOLD GROWTH: Recent studies have shown that various forms of water intrusion
122. affect many homes. Water intrusion may occur from exterior moisture entering the home and /or interior moisture
123. leaving the home.
124. Examples of exterior moisture sources may be
125. improper flashing around windows and doors,
126. improper grading,
127. flooding,
128. roof Teaks.
129. Examples of interior moisture sources may be
130. plumbing Teaks,
131. condensation (caused by indoor humidity that is too high or surfaces that are too cold),
132. overflow from tubs, sinks or toilets,
133. firewood stored indoors,
134. humidifier use,
135. inadequate venting of kitchen and bath humidity,
136. improper venting of clothes dryer exhaust outdoors (including electrical dryers),
137. line- drying laundry indoors,
138. houseplants- watering them can generate large amounts of moisture.
139. In addition to the possible structural damage water intrusion may do to the property, water intrusion may also result
140. in the growth of mold, mildew and other fungi. Mold growth may also cause structural damage to the property.
141. Therefore, it is very important to detect and remediate water intrusion problems.
142. Fungi are present everywhere in our environment, both indoors and outdoors. Many molds are beneficial to humans.
143. However, molds have the ability to produce mycotoxins that may have a potential to cause serious health problems,
144. particularly in some immunocompromised individuals and people who have asthma or allergies to mold.
145. To complicate matters, mold growth is often difficult to detect, as it frequently grows within the wall structure. If you
146. have a concern about water intrusion or the resulting mold /mildew /fungi growth, you may want to consider having
147. the property inspected for moisture problems before entering into a purchase agreement or as a condition of your
148. purchase agreement. Such an analysis is particularly advisable if you observe staining or any musty odors on the
149. property.
150. For additional information about water intrusion, indoor air quality, moisture or mold issues, go to the Minnesota
151. Association of REALTORS® web site at www.mnrealtor.com.
152. LISTING BROKER AND LICENSEES MAKE NO REPRESENTATIONS AND ARE
153. NOT RESPONSIBLE FOR ANY CONDITIONS EXISTING IN THE PROPERTY.
154. ORIGINAL COPY TO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BROKER
MN:SDA -4 (8/08)
WEBForms Nov /2008
COIIW
aANK
Property Information
MLS Number:
Street Address:
City:
County:
Zip Code:
Property ID
Legal Description:
Area:
Num of Bedrooms:
Num of Bathrooms:
Listing Price:
Listing Start Date:
Listing Expiry Date:
Property Type:
Purchase Price:
Purch Agreement Date:
Earnest Money:
Feb /2009
3684339
5601 Logan Ave N
Brooklyn Center
Hennepin
55430
270530211821420120
Lot 000 Block 000 AUDITOR'S SUBD. NO. 218 THAT PART OF LOT 35 L
363
5
2
SF
Seller Broker Information
39550
2009-05-11T00:00:00.000
May 12
2000
Seller Information
Seller Name: Seller Name:
Street Address: Street Address
City: City:
State: State:
Zip Code: Zip Code:
Phone: Phone:
Transaction Kit Summary Sheet
State: MN
20 09
Office Name:
Office ID:
Agent Name:
Agent ID:
Street Address:
City: State:
Zip Code:
Phone: Fax:
Email Address:
Page 1 of 2
WEBFoams Feb/2009
Buyer Information
Buyer Name: Buyer Name:
Street Address: Street Address
City: City:
State: State:
Zip Code: Zip Code:
Phone: Phone:
Buyer Broker Information
Office Name:
Office ID:
Agent Name:
Agent ID:
Street Address:
City:
Zip Code:
Phone:
Email Address:
Feb /2009
Transaction Kit Summary Sheet
State:
Fax:
Page2of2
WEBFonnsTM Feb /2009
Read Carefully
No Offers Contingent Unon the Sale of Another Property Will Be Considered.
The Seller will consider the financing terms as noted in the MLS listing. Verify that your Buyer's financing conforms to
the Seller's terms odor to submitting an Offer.
A Pre Approval letter MUST accompany your Offer. and MUST state the following.
1. Loan officer has reviewed the Buyer's credit report bank statements for fund verification as well as most recent pay
stubs for YTD income verification.
2. State the maximum loan qualification based on monthly income to debt ratios
3. If the down payment is a gift, gift funds must be verified and include a gift letter.
4. Buyer qualifies for terms offered by Seller
5. The loan is not subject to the sale or closing of any other real estate
6. Lender understands property is sold AS-IS and lender will not require any work orders.
7. Cash offers must be accompanied by a verification of funds and most recent bank statement.
8. If the property is boarded or condemned lender must state `lender understands property is boarded, condemned and /or
not habitable, and that no lender work orders will be required prior to closing.
Earnest Money: Seller requires earnest money of $1,000.00 or 2% of sale price; whichever is greater. After the
expiration of the property inspection period; Earnest Money is non refundable. Earnest Money will be forfeited if Buyer
does not qualify for the mortgage. Do not submit offer's unless you are sure the Buyer is qualified and can perform on the
Terms and Condition outlined in the Purchase Agreement. Seller prefers, and may require Earnest Money to be a Cashier's
Check or Money Order.
Assignments: A Purchase Agreement containing the verbiage AND /OR ASSIGNS will not be considered.
Personal Property: Because the Seller acquired this property through the foreclosure process they do not own any
personal property that may be located on or in the premises. PERSONAL PROPERTY IS NOT INCLUDED IN THE
SALE, DO NO INCLUDE A PERSONAL PROPERTY ADDENDUM. ANY PERSONAL PROPERTY LOCATED ON
OR IN THE PROPERTY MAY OR MAY NOT BE THERE POST CLOSING.
NO WARRANTIES OR REPRESENTATIONS AS -IS SALE: The seller has no knowledge of the
condition relating to this property. No warranties or representations in this regard are given or implied. The buyer must
rely solely upon personal inspections or their own professional understanding with respect to the condition of the Property.
This Property is being sold "AS -IS See "Waiver of Seller's Disclosure Requirements Addendum Buyer WILL PAY
for all stop box repairs /replacements, utility deposits, and /or tun on/off fees.
INSPECTIONS: The Buyer's time period for their inspection, personal or professional, at the Buyer's expense, will be
specified in the Inspection Contingency Addendum. The buyer has the right to terminate the Purchase Agreement IN
WRITING for any reason within this time period. If the Buyer fails to terminate the Offer IN WRITING within the time
allowed it shall be deemed as acceptance of the physical condition of the property. INSPECTIONS WIL BE SCHEDULED
WITH THE LISTING BROKER.
Buyer is responsible for the costs of de- winterizing and re- winterizing the property at the time of
the inspection and/or closing. The buyer and/or buyers agent are not allowed to turn on the water
and /or de- winterize the property prior to closing without the expressed written consent of the
seller or seller's agent. The Buyer and Buyer's Agent understand a qualified contractor must
handle de- winterization and re- winterization of the Property AT THE BUYER'S EXPENSE. If
You plan to de- winterize the property for inspection purposes or prior to closing for final walk
through add this verbiage to the Inspection Contingency Addendum. The buyer and buyers agent
also understand they will be held liable for anv damages resulting from not following these
instructions.
Buyer's Initials: Agents Initials:
Title: Title shall be conveyed by means of a LIMITED OR SPECIAL WARRANTY DEED. Make sure your purchase
agreement address' this in the appropriate box.
Closing: The closing will take place at the location of the Title Company of the Seller's Choice. Any closing WILL
take place with the Seller's Designated Closer. Buyer's agent must remove lockbox and bring to closing in order to get paid.
Possession: Keys from the lockbox will be given to the Buyer upon a successful closing. The Seller WILL NOT provide
extra keys, garage door opener's or any other items not specified in the Purchase Agreement. Furthermore it is recommended
to the Buyer to Re -key the property after closing.
TIME IS OF THE ESSENCE: If for any reason the Buyer is unable to perform on the terms outlined in the
Purchase Agreement. and unable to close on time for any reason. THE BUYER WILL PAY A PER DIEM CHARGE
OF $100.00 U.S. DOLLARS PER DAY FOR EVERY DAY OF DELAYED CLOSING.
Please be sure to check the MLS Supplements or contact the Listing Agent for any Required Addenda
regarding the Purchase of this Property.
All Purchase Aereements are Subiect to Corporate Anuroval.
Presentation of Offers:
Fax your offer to the Listing Agent Scot Pekarek 612 827 -0255. Be sure to include a copy of the Earnest Money check
and Pre Approval letter or proof of funds. Complete offers are presented during business hours (9-4) Monday Friday. When
Buyer and Seller reach an agreement, deliver the originals of the fully executed Purchase Agreement along with Earnest
Money, and all applicable Addenda to the Listing Broker's office. The property will continue to be shown and Offers
reviewed until all Parties sign the Purchase Agreement. Normal response time can vary from 1 -14 days.
By si>?nine below You acknowledee that You have read and Understand the
aforementioned references reeardine the Purchase of the Pronertv Outlined Herein.
AGENT('Sl BUYER('sl
Printed Name: Printed Name:
Signature: Signature:
Date Signed: Date Signed:
Printed Name: Printed Name:
Signature: Signature:
Date Signed: Date Signed:
Seller: Owner of Record
Buyer:
Property Address:
Date:
WAIVER OF SELLER'S DISCLOSURE REQUIREMENTS FOR
RESIDENTIAL REAL PROPERTY AND
HOLD HARMLESS AGREEMENT
(Waiver and Hold Harmless Agreement
(The "Property
Buyer desires to purchase the Property from Seller, pursuant to a purchase and sale agreement (the
"Agreement") to be entered into between Seller and Buyer. Effective January 1, 2003, Minnesota law
requires that the Seller either provide the prospective buyer of single family residential real property with
a written disclosure of all material facts pertaining to adverse physical conditions in the Property or which
the Seller is aware of, or provide a report conceming the physical condition of the Property prepared by a
qualified third party. The law also permits the Seller and the Buyer to waive those disclosure provisions.
Buyer (whether one or more) and Seller hereby waive, in their entirety to the full extent permitted by law,
the written disclosure provisions set forth in sections 513.52 to 513.60 of the Minnesota Statutes
Annotated, pursuant to the provisions of section 513.60 of the Minnesota Statutes Annotated conceming
the above described Property. Buyer acknowledges that Buyer has been given an ample opportunity to
seek the advice of Buyer's own chosen legal counsel concerning the Agreement, the Property and this
Waiver and Hold Harmless Agreement. Notwithstanding anything to the contrary in the Agreement, Buyer
hereby specifically holds Seller harmless from any claim or claims made by Buyer, Buyer's successors,
assigns, heirs, insurers, agents or any other person or entity, as to any matter involving the disclosure set
forth in sections 514.52 to 513.60 or claims made against Seller, at any time, concerning the disclosures
set forth in sections 513.52 to 513.60 of the Minnesota Statutes Annotated concerning the Property made
by Buyer, Buyer's successors, assigns, heirs, insurers, agents or any other person or entity. The parties
herein agree that except as otherwise provided herein, the Agreement provisions shall be in full force and
effect.
This Waiver and Hold Harmless Agreement shall be binding and inure to the benefit of the Buyer and
Seller and their heirs, successors, assigns, agents, employees and officers and shall survive the closing
of the sale of the Property pursuant to the Agreement.
Buyer (signatures): Seller:
By:
Its:
Property Address:
City:
State: Minnesota
Zip:
Radon Gas and Mold Notice
And Release Agreement
PURCHASERS ARE HEREBY NOTIFIED AND UNDERSTAND
THAT RADON GAS AND SOME MOLDS HAVE THE POTENTIAL
TO CAUSE SERIOUS HEALTH PROBLEMS.
Purchaser acknowledges and accepts that the property described above (the "Property") is being offered
for sale "AS IS" with no representations as to the condition of the Property. The seller successors and
assigns (the "Agent') have no knowledge of radon or mold in, on, or around the Property other than
what may have already been described on the web site of the Seller or Agent or otherwise made available to
Purchaser by the Seller or Agent.
Radon is an invisible and odorless gaseous radioactive element. Mold is a .:...l term for visible growth
of fungus, whether it is visible directly or is visible when barriers, such as building components (for
example, walls) or fumishings (for example, carpets), are removed.
Purchaser represents and warrants that Purchaser has not relied on the accuracy or completeness of any
representations that have been made by the Seller and/or Agent as to the presence of radon or mold and that
the Purchaser has not relied on the Seller's or Agent's failure to provide information regarding the presence
or effects of any radon or mold found on the Property.
Real Estate Brokers and Agents are not generally qualified to advise purchasers on radon or mold treatment
or its health and safety risks. PURCHASERS ARE ENCOURAGED TO OBTAIN THE SERVICES
OF A QUALIFIED AND EXPERIENCED PROFESSIONAL TO CONDUCT INSPECTIONS AND
TESTS REGARDING RADON AND MOLD PRIOR TO CLOSING. Purchasers are hereby notified
and agree that they are solely responsible for any required remediation and/or resulting damages, including,
but not limited to, any effects on health, due to radon or mold in, on, or around the property.
In consideration of the sale of the Property to the undersigned Purchaser, Purchaser does hereby release,
indemnify, hold harmless and forever discharge the Seller, as owner of the Property and separately, Agent,
as the independent contractor responsible for maintaining and marketing the Property, and its officers,
employees, agents, successors and assigns, from any and all claims, liabilities, or causes of action of any
kind that the Purchaser may now have or at any time in the future may have against the Seller and/or Agent
resulting from the presence of radon or mold in, on or around the Property.
Purchaser has been given the opportunity to review this Release Agreement with Purchaser's attomey or
other representatives of Purchaser are choosing, and hereby acknowledge reading and understanding this
Release. Purchaser also understands that the promises, representations, and warranties made by Purchaser
in this Release are a material inducement for Seller entering into the contract to sell the Property to
Purchaser.
Dated this day of 20,
Purchaser's Signature Purchaser's Signature
Prrchaser's rrrntecfName Pii naser s t'nntedTvame