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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 REALTORS9, Edina' MN

1. Date 2. Page

July 25,2409

THE PROPERW,lF NOT NEW CANNOT BE EXPECTEDTO BE lN NEW CONDITION. ROUTINE MAINTENANCE ITEMS ARE NOT PART OFTHIS ADDENDUM,

3.

4.

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INSPECTION CONTINGENCY ADDENDUM

pertaining

,20

Addendum to Purchase Agreement between parties, dated 2647 38th Ave S to the purchase and sale ol the property at

7.

-,

10. 11.

This purchase Agreement is contingent upon a complete home inspection(s) of the property to determine its condition' Any and all inspections performed by Buyer shallconstitute a complete home inspection(s). Any inspection(s) shall be done by an Inspecto(s) of Buyer's choice. The lnspector(s) should be qualified to do the insiection(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 lor said inspection{s).

15. 16.

Any inspection(s) or test(s) done by FHA, DVA or any other governmental unit shall be done and paid for in accordance with the applicable regulations and are not part of this lnspection 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

8.

L

property {rom its original condition or otherwise damages the property'

20.

Seller

DOES ffi OOeS NOT agree to allow Buysr to perform intrusive testing or inspection(s). I----*--/Check on€')**'--*-

21. lf 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. 29. For the purposes of thls Addendum, "buslness days" shall end at 11:59 p.m. and do not include Saturdays' 24. Sundays and state and federal holldays. business days of final acceptance of this Purchase Agreement. ZS. All inspection(s) shall be done within 7 26. Buyer shall have these options following inspection(s): 27. (1) lf Buyer, or licensee representing or assisting Buyer, identilies any issues pertaining to the property resulting from the inspection(s) and intends to negotiate the identified issues wilh Seller, then Buyer, or licensee 2A. representing or assisting Buyer, shall notify Seller, or licensee representing or assisting Seller, in writing, 29. g0. business days after expiration of the time describing the issues and proposed remedy, within 2 period specified on line 25. 31. \tz,

lf Buyer, or licensee representing or assisling Buyer, noti{ies Seller, or licensee representing or assisting

33. 34. 35. 36. 37.

Seller, of the identified issuas and proposed remedy, and if within

38.

Andlor;

ea

40.

2

business days after such

notice Buyer and Seller hav€ not agraed in writing to a remedy of the identilied issues, this Purchase Agreement

is canceled without further notice required. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreemant conlirming said cancellation and directing all earnest money paid hereunder to be refunded to Buyer, and thereafter neithar party shall have any lurther liability to the other.

TH|S rS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). TFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.

MN:lCA-1 (8/07)

WEBFormsn Nov/2008

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ADDENDUM TO PURCHASE AGREEMENT DISCLOSURE OF INFORMATION ON LEAD.BASED PAINT AND LEAD.BASED PAINT HAZARDS

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This form approved by the Minnesota Association of REALTORS@, which disclaims any liability arising oul of use or misuse of this torm. @ 2006 Minnesota Association of REALTORS@, Edina, MN

1. 2.

3. 4.

Page

Addendum to Purchase Agreement betwean parties, dated 2647 38th Ave pertaining to the purchase and sale o{ the property

"1

Minneapolis

Julv 25. 2009

Date

MN

20 S

55406

6. Section l: Lead Warning Statement 7. Every buyor 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 laad from lead-based paint that may place young children at risk of 9. developing lead poisoning. Lead poisoning in young children may produce permanent neurolagicaldamage, including 10. learning disabilities, reduced intelligence quotient, behavioral problems and impaired memory Lead poisoning also . poses a particular risk to pregnant women. The seller af any rnterest rn residential real property is required to provide 12. the buyer with any information on lead-based paint hazards from risk assessmenis or inspections in the seller's 13. possesslon and notify the buyer of any known lead-based paint hazards..r4 r.sk assessment or inspection for possible 14. lead-based paint hazards is recommended prior to purchase. 15. Seller's Dlsclosure (initial) (a) Presence of lead-based paint and/or lead-based paint hazards. 16. (Check one below.) 17. 18. I Known lead-based paint and/or lead-based paint hazards are present in the housing (explain): 19. 11

20.

21.

f

22. 23.

(b) Records and reports available to the

24.

I

Selter has no knowledge of lead-based paint and/or lead-based paint hazards in the housing. seller.

(Check one below.)

25.

Setter has provided Buyer with all available records and reports pertaining to lead-based paint and/or fead-based paint hazards in the housing (list documents below):

26.

l_J Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards

27.

28.

29. Buyer's 30. {. t+ fl. {4 31 . 92. fl h

in the housing.

Acknowledgment (initial)

33.

34.

(c) Buyer has received copies of all information listed under (b) above. (d) Buyer has received the pamphle l, Protect Your Famity from Lead in Your Home. (e) Buyer has fcheck one betow):

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Received a 10-day opportunity (or mutually agreed-upon period) to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards (if checked, see Secflbn ll on page 2); or

I

WalveO the opportunig to conduct a risk assessment or inspection for the presence of lead-

35. 36. 37.

based paint and/or laad-based paint hazards.

TLX:SALE-1 (8/06) VVEBFormsrM Nov/2008

INSPECTION CONTINGENCY ADDENDUM

41. Date 42. Page 43.

Property located at 2647 38th Ave S

(2)

July 25, 2009

Minneapolis

55406

45. 46.

Notwithstanding any provision to the contrary or any notice given, Buyer may unilaterally waive any issues, providing that Buyer, or licensea representing or assisting Buyer, notifies Seller, or licensee representing or assisting Seller, of waiver in writing, within the time specified on line 33.

47.

And/or;

44.

48. 49.

(3)

Notwithstanding any other provision of this Purchase Agreement, Buyer may, based on the inspection(s), declare this Purchase Agreement canceled by written notice to Seller, or licensee representing or assisting Seller, within

50. 51.

Z

business days after expiration of the time period specified on line 25, in which case

this Purchase Agreement is canceled.

cz,

In the event Buyer declares this Purchase Agreement canceled, Buyer and Seller shall immediately sign

53. 54.

a Cancellation of Purchase Agreement conlirming said cancellation and directing all earnest money paid

55. 56.

57.

lf Buyer fails to have the inspection(s) performed within the time specified in line 25, or does not notify Seller, or licensee representing or assisting Seller, of Buye/s decision within the time specified in lines 30 and 50, then this Contingency shall be deemed removed and this Purchase Agreement shall be in full force and etfect.

58.

Nothing herein invalidates the warranties agreed to in lines 21o-l212 of this Purchase Agreement.

59.

Seller, or licensee representing or assisting Seller,

60.

hereunder to be refunded to Buyer,

SHALL f, SnAUI il*"-"-----*(Cnack ona.f

the property for sale until this Contingency is removed.

61. (Selle4

NOT have the right to continue to otfer

-------.

-/.nl /'l.-* ;&.---,& (Buy€4

- ^JE-i,', (Dale)'

62. (Date)

63. 64.

THIS lS A LEGALLY BINDTNG CONTRACT BETWEEN BUYER(S) AND SELLER(S). IFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.

MN:lCA-2 (8/07)

WEBFormsfr Novl2008

FINANCING ADDENDUM CONVENTIONAL OR PRIVATELY INSURED CONVENTIONAL MORTGAGE Page

43.

Minneapolis

55406

44.

Property located at 2647 3SthAve S

45. 45. 47.

PRIVATE MORTGAGE INSURANCE (PMl): PMI may be required by the lending institution(s). Buyer agrees to pay all subsequent years' mortgage insurance premiums as required by the lending institution(s). The said mortgage insurance premiums will increase the mortgage amounl unless paid in cash at closing.

48. 49. 50.

DISCOUNT POINTS: lf Seller has agreed to pay discount points pursuant to this Purchase Agreement, a Financing Addendum Se//er's Cantribution to Claslng Costs and Discount futnts must be attached. Nothing in this Purchase Agreement shall prohibit Buyer from paying any mortgage discount points.

51. LOCKING OF MORTGAGE INTEREST HATE {RATE}: The Rate shall be locked with the lender(s) by Buyer 52. (checkone): 53. I Wrnn FNE (5) BUSTNESS DAYS OF FTNAL ACCEPTANCE OFTHTS PURCHASE AGREEMENT; OR s4. fl er envmME PRroRTo cLoslNG oR As REoUIRED BY LENDER(S). 55. LENDER COMMITMENT WORK ORDERS: Nothing in this Purchase Agreement shall be construed as a 56. warranty that Seller shall make repairs required by the lender commitment. However, Seller agrees to pay up to to maks repairs as required by the lender commitment. lf the lender commitment 57. g 0

63. 64. 65.

is subject to any work orders {or which the cost of making said repairs shall exceed this amount, Seller shall have the following options: (a) making the necessary repairs; or (b) negotiating the cost of making said repairs with Buyer; or (c) declaring this Purchase Agreement canceled, in which case this Purchase Agreement is canceled. Buyer and Seller shaf f immediately sign a Cancellation of Purchase Agreementconfirming said cancellation and directing all earnest money paid hereunder to be refundEd to Buyer, unless Buyer provides for payment of the cost of said repairs or escrow amounts related thereto above the amount specified on line 57 of this Addendum.

66.

OTHER:

58. 59. 60. 61.

62.

67. 68. 69.

70. 71. 72. 73. 74.

7 -2a- o7

75. (Seller)

(Date)

(Buy€4

(Date)

(Buy€0

(Date)

76.

77. 78.

THIS lS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). IFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.

MN:FACM-2 (8/07)

VVEBFomsil Nov/2008

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FINANGING ADDENDUM CONVENTIONAL OR PRIVATELY INSURED CONVENTIONAL MORTGAGE

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This iorm approved by the Minnesota Association of REALTORSo' which disclaims any liability arising out ol use or misuse of this form. @ 2007 Minnesota Association of BEALTOBS@, Edina, MN

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1. 2. .t. 4.

Date

Julv 25. 2009

Page

Addendum to Purchase Agreement between parties, dated purchase and sale o{ the property at 2647 38th Ave S

55406 Agreement. with this Purchase There |S |S NOT a Buyer's Financial Disclosure Slalernenf submitted -*--(Qheck one'l--'Financins wir be

Minneapolis

6.

7

, pertaining to the

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8. 9. 10.

Buyer shall apply for and secure, at Buyer's expense, a

H99ly-tYt-o$-!.F.Lrxffi kl.ll:y.11?..:-ojv..:.Ill9-11' amortized monthly ovel a period ol not more than

30

fixed

First Mortgage (e.9., Rxed, ARM)

.- years, with an initial mortgage interest rate at

percent (o/o) per annum. 11. 12. The mortgage application lS TO BE MADE WITHIN FIVE (5) BUSINESS DAYS after the acceptance ol this Purchase 13. Agreement. Buyer agrees to use best ettorts to secure a commitment for such financing and lo execute all documents 14. required to consummate said financing. 15. FINANCING CONTINGENCY: This Purchase Agreement is contingent upon the following and applies to the {irst 16. mortgage and any subordinate financing. 17. (Check one.) 18. For purposes of this Contingency, "Wrltten Statement" means a Written Statement prepared by Buyer's mortgage 'l S. originato(s) or lender(s) atter the Final Acceptance Date that Buyer is approved for the loan(s) specified in this Purchase 20. Agreement, including both the first mortgage and any subordinate financing, if any, and stating that an appraisal, 21. satisfactory to the lender(s), has been completed and stating conditions required by lender(s) to close the loan. 22. fl tt euyer cannot secure such mortgage(s) and this Purchase Agreement does not close on the closing 23. date specified, this Purchase Agreement is canceled, Buyer and Seller shall immediately sign a Cancellation 24. of Purchase Agreement confirming said cancellation and direcling all earnest money paid hereunder to be no more lhan mlct rate

25

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26. I

Buyer shall provide Seller, or licensee representing or assisting Seller, with the Written Statement, on

27.

or before

28. 29.

Upon delivery of the Written Statement to Seller, or licensee representing or assisting Seller, the responsibility for satislying all conditions, except work orders, required by mortgage originator(s) or lender(s) are deemed

en

accepted by Buyer. Upon delivery of the Written Slatement, il this Purchase Agreement does not close on the stated closing date for ANY REASON relating to financing, other than Seller's failure to complete work orders to the extent required by this Purchase Agreement, including but not limited to interest rate and discount points, if any, Seller may, at Seller's option, declare this Purchase Agreement canceled, in which case this Purchase Agreement

31. JZ. 33. 34. 35. 36. 37. 38. 39. 40.

20

is canceled. lf Seller declares lhis Furchase Agreement canceled, Buyer and Seller shall immediately sign

a

Cancellation of Purchase Agreementconfirming said cancellation and directing all earnest money paid hereunder to be forfeited to Seller as liquidated damages. In the alternative, Seller may seek all other remedies allowed by law.

lf the Written Statement is not provided by the date specified on line 27, this Purchase Agreement is canceled. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreemenf confirming said cancellation and directing all earnest money paid hereunder to be refunded to Buyer.

41. 42.

TH|S tS A LEGALLY B|ND|NG CONTRACT BETWEEN BUYER(S) AND SELLER(S). IFYOU DESIRE LEGAL ORTAX ADVICE. CONSULT AN APPROPRIATE PROFESSIONAL.

MN:FACM'1 (8/07) VvEBFotmsrM Nov/2008

,frh

93,

CONTRACT FOR EXCLUSIVE RIGHTTO REPRESENT BUYER Page 3

by Broker, a dual agency will be 94. AGENCY REPRESENTATION: lf the Buyer(s) chooses to purchase a proper$ listed and owe the same duties to the Seller(s), 95. created. This means that Broker will represent both the Buye(s) and theprohibit Broker from advocating exclusively will interest of 96. Seller(s) that Broker owes to the Buyer(s). This conflict provide. a dual agency should lf can Broker representation of witt iimlt the level behalf. Dual agency 97. on the Buyer(s) gg. arise, the -Buyer(s) will need to agree that confidential information about price, terms and motivation will still be kept All other 99. confidential unless the Buyer(s) instructs Broker in writing to disclose specific inlormation about the Buyer(s)'agree to it'

100. inlormation willbe shared. Broker cannot act as a dualagent unless both the Buye(s)and the Seller(s) 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 Buye(s) should deeide not to agree to a possible dual agency, and the Buyer(s) wants 10S. Broker to represent the Buyer(s), the Buye(s) may give up the opportunity to purchase the properties listed by 104. Broker. 105. BJyer's Instfuctions to Broker:

n i 07. n 106.

Buye(s) will agree to a dual agency represantation and will consider properties listed by Broker. Buyer(s) will not agree to a dual agency representation and will not consider properties listed by Broker.

REA4AX Results / Mike LaBelle

108. Real Estate Company 1

Buyer:

09.

110.

11

6.

f /l--

Buyer:

By: (Salasperson)

Date:

111.

112. 11S. 1 14. 1 1S.

,'

NOTTCE REGARDING PREDATORY OFFENDER INFORMATION:

Information regarding the predatory

offender registry and persons reglstered wlth the predatory offender registry under MN Statute 243.166 may be obtained by iontactlng the local law enlorcement offlces in the community where the property is located or the Mlnnesota Department of Gorrectlons at {651) 361-7200, or from the Department of Corrections web site at

www.corr.state.mn.us.

i 17. ADDITIONAL NOTICES ANDTERMS: lf either Buyer or Broker brings an action for enforcement of this Agreement,

18. 1 19. 1

the prevailing party in such action shall be entitled to recovBr all costs and expenses including all reasonable attorneys' fees and court costs.

120. CONSENT FOR COMMUNICATION: Buyer authorizes Broker and its salespersons lo 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.

REA4AX Results /Mike LaBelle (RBal Estate Company Name)

123.

(By)

(Date1

(Lic€nsc€)

124.

604 Bielenberg Dr

Woodbury (Address)

(Addr€ss)

'125.

#100

(Date)

(Buyer)

65r-735-t350

126. 127,

THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER AND BROKER. IFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.

MN:CERB-S (8/07) VVEBFomsn Nov/2008

48.

49.

SO.

CONTRACT FOR EXCLUSIVE RIGHTTO REPRESENT BUYER Page 2

into Buyer shall not be obligated to compensate Broker if, upon expiration of this Agreement, Buyer has entered is pursuant obligated which Buyer to Buyer, Represent to Right Nonexclusive or Exclusive f6r another valid Contract to compensate another broker tor Purchase of real property.

51. PAYMENT oF COMPENSATION BY 52. CAUTION: BUYER'S ACTIONS lN LOCATING A PROPERTY MAY AFFECT SELLER(S) AND MAYTHEREFORE OBLTGATE BUYERTO pAY ALL OR PART OFTHE COMPENSATION s3. lN CASH AT CLOSING. FOR EXAMPLE: THE ACT OF GOING THROUGH AN OPEN HOUSE 54. UNACCOMPANIED BYYOUR BROKER OR BROKER'S SALESPERSON OR SIGNING A PURCHASE 55. AGREEMENT THROUGH ANOTHER BROKER OR WITH OWNER (FOR SALE BY OWNER) MAY 56. REOUIREYOUR PAYMENT OFTHE FULL COMPENSATIONTOYOUR BROKER. 57. SB.

OTHEH POTENTIAL BUYERS: Broker may represent or work with other potential buyers for the same property before, during and after the expiration of this Agreement. Other potential buyers may consider, make offers or Purchase through Broker the same or similar properties as Buyer is seeking to acquire.

74. 75.

CLOSING SERVICES:

59. 60. 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 INSPECTTON/WARRANW: Broker recommends that Buyer obtain a private home inspection to satisty 66. himself/herself with the physical condition of the proparty. Furthermore, lhere are warranty programs available for some 67. properties which warranl 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. (lncluding tha following property types: existing, new construction or to-be-built.) 71. (Check all that apply.) 72. [_lCommercial/lndustrial I Recreation l_l Farm Residential/Personal 79. ffi Residential/lnvestment I Vacant Land ffi NOTICE: THE REAL ESTATE

BROKER, REAL ESTATE SALESPERSON OR REAL ESTATE CLOSING AGENT HAS NOT EXPRESSED AND, UNDER APPLICABLE STATE LAW MAY NOT EXPRESS OPINIONS REGARDING THE LEGAL EFFECT OFTHE CLOSING DOCUMENTS OR OFTHE CLOSING ITSELF.

76. 77.

78. 79. 80.

After a purchase agreoment for the property is signad, arrangements must be made to close the transaction. Buyer undarstands that no one can require Buyer to use a particular person in connection with a real estate closing and that Buyer may arrange for a qualified closing agent or Buyer's attorney to conduct the closing.

81. 82.

ADDITIONAL GOSTS: Buyer acknowledges that Buyer may be required to pay certain closing costs, which may

83. 84.

My choice for closing services.

85.

effectively increase the cash outlay at closing,

(lnitialone.)

'\t\'r (Buyod

Buyer wishes lo have Broker arrange for the closing. (Buyar)

Buyer shall arrange for a qualified closing agent or Buyer's attorney to conduct the closing.

86. (Buys0

87.

OTHEH:

88, 89. 90.

91. 52.

THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER AND BROKER. IFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.

MN:CERB-2 {8/07) wEBFormsw Novl2008

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CONTRACT FOR EXCLUSIVE RIGHTTO REPRESENT BUYER This form approved by the Minnesota Association of BEALTORS@, which disclaims any liability arising out of use or misuse of this form. @ 2007 Minnesota Association of REALTORS@, Edina, MN

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Julv 25-2009

1,

Date

2.

Page 1 of

Nicole Hendrickson

pages

(Buyer) gives

REA4AX Results /Mike LaBelle

, Buyer's broker (R€al Estate Company Name)

c.

(Broker), the exclusive right to locate and/or to assist in negotiations for the purchase, exchange of or option to

6.

purchase (Purehase) property at a price and with terms acceptable to Buyer. This Agreement starts on

7. 8.

1:59 p.m. on October 31 This Agreement may be canceled by written mutual agreement ol the parties.

Julv 25

,20

09

, and ends at

1

20 09

9. BROKER'S OBLIGATION: Broker shall: 10. . make a reasonable etfort 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 Buyeds ability to Purchase pfoperty, 18. 19. 3. cooperate with Broker in finding a property lo Purchase. After a purchase agreement has been accepted by 20. seller, Buyer is legally obligated to Purchase the property. lf Buyer re{uses lo close the Purchase for any reason 21. other than lhe failure of seller to perform, subject to relevant contingencies, Buyer shall pay Broker all 22. compensalion 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. 1

26.

COMPENSATION:

27.

(Fillin allblanks.)

28. 29.

,72,

Buyer agraes to compensate Broker if Buyer or any other person acting on Buyer's behalf agrees to Purchase any property during the term of this Agreement. Buyer shall pay Broker a retainer fee of $ when Buyer signs this Agreement. Broker will keep this fee even if Buyer does not Purchase property. The retainer paid shall apply toward satisfaction of Buyer's obligation to compensate Broker.

33.

2.

*tu.

31.

1.

34. 35. 36.

Buyer shall pay Broker a commission o{ 0 $ A:

percent (%) of the Purchase price of the property or

Buyer Purchases or agrees to Purchase a property before the end of this Agreement, even if Buyer does not use Broker's services: or

37. B: 1vi15;n 120 days (nof 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 Buyersigns an otferto Purchase the property. Any compensation accepted by Broker from seller, 44. or broker representing or assisting seller, M SHALL I SXaU- NOT reduce any obligation of Buyer to pay the --------"-.'-* lohec* one,I--*-----45. compensation by the amount received by seller or broker. 46. TI'IIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER AND BROKER. 47. IFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. MN:.ERB-'

(8/07)

wEBFormsn Nov/2008

/1,;

SELLER'S DISCLOSURE ALTERNATIVES

1

19.

Page 4

120. L. OTHER INFORMATION: 121. 122. 1

23.

124. '125.

126. 127. 1

28.

129. 30. 131. 1 32. 1 33. 1

134. 35. 36. 1 37. 138. 1 1

1 39. 140.

141. 142. '143.

WATER INTRUSION AND MOLD GRO\IIITH: Recent studies have shown that various forms of water intrusion affect many homes. Water intrusion may occur from exterior moisture entering lhe home and/or interior moisture leaving the home. Examples of exterior moisture sources may be improper flashing around windows and doors, improper grading, flooding, rool leaks.

. . . .

Examples of interior moisture sources may be plumbing leaks, condensation (caused by indoor humidity that is too high or surfaces that are too cold), overflow from tubs, sinks or toilets, {irewood stored indoors, humidifier use, inadequate venting of kitchen and bath humidity, improper venting of clothes dryer exhaust outdoors (including electrical dryers), line-drying laundry indoors, houseplants-watering them can generate large amounts of moisture.

. . . . . . . . .

In addition to the possible structural damage waler intrusion may do to the property, water intrusion may also result in the growth of mold, mildew and other fungi. Mold growth may also cause structural damage to the property. Therefore, it is very important to detect and remediate water intrusion problems.

Fungi are present everywhere in our environment, both indoors and outdoors. Many molds are beneficialto humans. However, molds have the ability to produce mycotoxins lhat may have a potentialto cause serious health problems,

144.

particularly in some immunocompromised individuals and people who have asthma or allergies to mold.

145. 146.

To complicate matters, mold growth is often difficult to detect, as it frequently grows within the wall structure. lf you

148. 149.

have a concern about water intrusion or the resulting mold/mildew/fungi growth, you may want to consider having the property inspected for moisture problems before entering into a purchase agreement or as a condition of youl purchase agreement, Such an analysis is particularly advisable if you observe staining or any musty odors on the property.

1 50. 151.

For additional in{ormation about water intrusion, indoor air quality, moisture or mold issues, go to the Minnesota Association of REALTORSo web site al www.mnrealtor.com.

147.

152. 53.

LISTING BROKER AND LICENSEES MAKE NO REPRESENTATIONS AND ARE NOT RESPONSIBLE FOR ANY CONDITIONS EXISTING INTHE PROPERW.

154.

ORIGINAL COPYTO LISTING BROKER; COPIESTO SELLER, BUYER, SELLINe BROKER

1

MN:SDA.4 (8/08)

VvEBFormsw Nov/2008

,$1.'

\

SELLER'S DISCLOSURE ALTERNATIVES

83.

Page 3

Minneapolis

84. 85.

Property located at 2647 38th Ave S

86.

G. NOTTCE REGAHDING PREDATORY OFFENDER INFORMATION:

F.

(nltlal)

Buyer has had the oppofiun$ to review page tour (4) of this Agreement. (lntflaA

Information regarding the predatory offender registry and persons reglstered wlth the predatory oflender registry under MN Statute 243.166 may be obtalned by contactlng the loeal law enforcement offices in the community where the property is located or the Minnesota Department of Corectlons at (651) 361-7200, or from the D€partment of Corrections web site at www.corr.state,mn.us.

87. 88. 89. 90.

9't,

H.

SELLER'S STATEMENT: (To be signed at time of listing.) Selle(s) hereby authorizes any licensee(s) representing or assisting any party(ies) in this transaction to provide

92. 93. 94,

a copy of this Disclosure to any person or entity in connection with any actual or anticipated sale of the property.

95.

BUYER'S ACKNOWLEDGEMENT:

96.

97.

(To be signed at time of purchasa agraement.)

98. 99. 1 00.

lArVe,

101

the Buyer(s) of the property, acknowl€dge receipt of this SELLER'S DISCLOSURE ALTERNATIVES form

and agree to the seller's disclosure option selecled in this form. lrVVe further agree that no representations regarding material facts have been made, other than those made in this form.

.

(Buy€0

(Buy€r)

102.

ADDITIONAL DISCLOSURES:

03. 04, 1 05. 1 06. 1 07. 1

1

108. 09.

K.

1

1

10.

a{l | | t.

SELLEH'S ACKNOWLEDGEMENT: (To ba signad at time of purchase agraemant.) AS OF THE DATE BELOW, l/we, the Selle(s) of the property, state that the material facts are the same, except for changes as indicated below, which have been signed and dated.

112. 1 1

1 1

13, 14. 15. 16.

117

.

(Seller)

1'18.

(Data)

(Selleo

(Date)

ORIGINAL COPY TO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BROKER.

MN:SDA-3 (8/08)

WEBFormsil Nov/2008

SELLER'S DISCLOSURE ALTERNATIVES

41.

Page 2

at 2647 38th 4v9 t

42.

Property located

43.

46. 47.

OTHER REOUIRED DISGLOSUHES: In addition to electing one of the above alternatives to the material fact disclosure, Minnesota law also requires sellers to provide other disclosures to prospective buyers, such as those disclosures listed below' Additionally, there may be other required disclosures by federal, state, local or oiher governmental entities that are not listed below.

48.

A.

44. 45.

NOTE:

49. 50.

ct.

PRIVATE SEWER SYSTEM DISCLOSURE: (A private sewer system disclosure is required by MN Statute (Check appropriate box.)

tr I

Setler does not know ol a private sewer system on or serving the above-described real property.

I

tfrere is an abandoned private sswer system on the above-described real property. (See P rivate Sewar Sysfa m Discl osu re Statament. )

52. 53. 54.

1

15.55.)

tnere is a private sewer system on or serving the above-described real property. (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. f Selter certifies that Seller does not know of any wells on the above-described real property. 58. I Setter certifies there are on6 or more wells located on the above-described real proper$. (SeeWellDisclosure Stafemenf.) 59. 60. Are there any wells serving the above-described property that are not located on the property? IVes f, t',to 61. Contaminated Well: ls there a well on or serving the property that contains contaminated water? [Ves f, tto 62. To your knowledge, is the property in a Special Well Construction Area? I Yes f, ttto 63. Comments: 64. 65. 66.

C.

VALUATION EXCLUSION DISCLOSURE: (Required by MN Statute 273.11, Subd.16)

I

I

|S NOT an exclusion from market value for home improvemenls on this property. Any valuation

67.

There

68. 69. 70.

shall increase" lf a valuation exclusion exists, Buyers are encouraged to look into the resulting tax

71.

Additional comments:

lS

--*--lCheck one,i*-** exclusion shall terminate upon sale of the property, and the property's eslimated market value for property tax purposes

consequences.

72.

73.

D.

74.

METHAMPHETAMINE PRODUCTION DISCLOSURE: (A methamphetamine production disclosure is required by MN Statute 152.0275, Subd. 2 (m).)

I f

7E

76. 77.

78. 79. 80. 81.

E.

Setter is not aware of any methamphetamine production that has occurred on the property. Setter is aware that methamphetamine production has occurred on the property. (See Methamphetamine P roduction Disclosure Statement. )

NOTICE REGARDING AIRPORT ZONING REGULATIONS: The property may be in or near an airport safety zone with zoning regulations adopted by the governing body that may affect the property. Such zoning regulations are filed with the county recorder in each county where the zoned area is located. ll you would like to determine if such 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) Vl/EBFormsn Nov/2008

{}' {.,

wH{

SELLER'S DISCLOSURE ALTERNATIVES

This lorm approved by the Minnesota Association of REALTORS@' which disclaims any liability arising out of use or misuse of this form' @ 2008 Minnesota Association ol REALTORS@' Edina, MN

RESULTS

\{,rlif',f,J

l{eSr-l

1. 2.

it* f et f

2&7 38th Ave

Julv 25. 2009

Date Page

1

of

pages

S

3

ProPertY located s1

t

City of Minneaoolis

o.

NOTICE Sellers of residential property, with limited exceptions, are obligated to satisfy ihe requirements of MN Statutes 513.52 through 519.60. To comply wlth the statute, Seller must provide either a written disclosure to the prospective

7. 8.

, County of Hennepin

, State of Minnesota.

Buyer (see Setter's Property Dlselosure Statemen0 or satisfy one of the following two options:

9. (Select one optlon onlY.) 10. t) I OU11tntED THTRD-PARW 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 loeal governmental agency, or any person whom Seller or prospective Buyer reasonably believes has the expertise necessary to meet the industry slandards of practice 13. for the type of inspection or investigation that has been conducted by the third party in order to prepare the 14. written report. 15. 16. Seller shall dlsclose to prcspectlve Buyer material facts known by Seller that contradict any information that is Included in a wrltten report, or materlal facts known by Seller that are not included in the 17. report. 18. The inspection reporl was prepared by 19. 20. 20

21.

and dated

22.

Seller discloses to Buyer the following material facts known by Seller lhat contradict any in{ormation included in the above referenced inspection report"

23. 24.

25. 26. 27.

28.

Seller discloses to Buyer the following material facts known by Seller that are not included in the above

29. 30.

referenced inspection report.

a't

.tz, 33. 34,

ac

36.

37.

2) [ mtVen:

38. 39.

40.

The written disclosure required may be waived if Seller and prospective Buyer agree in writing. Seller and Buyer hereby waive the written disclosure reguired under MN Statutes 513.52 through 513.60.

Waiver of the diselosure requlred under MN Statutes 513.52 through 513.60 does not waive, limit or abridge any obligatlon for Seller dlsclosure created by any other law. ORIGINAL GOPYTO LISTING BROKER; COPIESTO SELLER, BUYER, SELLING BROKER.

MN:SDA-i (8/08) VVEBFo/rnsil Nov/2008

'h,Y\'

AGENCY RELATIONSHIPS IN REAL ESTATE TRANSAGTIONS 50. Page 2

51.

V.

52. 53. 54. 55.

co.

agreement, if any. ln the event a facilitator broker or salesperson working with a Buyer shows a property listed by the facilitator broker or salesperson, then the facilitator broker or salesperson must act as a Seller's Broker (see paragraph lon page one (1)). In the event a facilitator broker or salesperson, working with a Seller, accepts a showing of the property by a Buyer being represented by the lacilitator broker or salesperson, then the facilitator broker or salesperson must act as a Buyer's Broker (see paragraph lll on page one (1)).

57. 58. 59. 60. 61.

62.

Facilitator: A broker or salesperson who performs services for a Buyer, a Seller or both but does not represeni either in a fiduciary capacity as a Buyer's Broker, Seller's Broker or Dual Agent. THE FACILITATOR BROKER OR SALESPERSON DOES NOT OWE ANY PARTY ANY OF THE FIDUCIARY DUTIES LISTED BELOW EXCEPT CONFIDENTIALITY, UNLESS THOSE DUTIES ARE INCLUDED IN A WRITTEN FACILITATOR SERVICES AGREEMENT. The facilitator broker or salesperson owes the duty of confidentiality to the party but owes no other duty to the party except those duties required by law or contained in a wrifien facilitator services

{1)

This disclosure is required by law in any transaction involving property occupied or intended to be occupied by one to four families as their residence.

(2)

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 lacts of which broker/salesperson has knowledge which might reasonably affect the client(s)'use and enjoyment of the property. Confidentiality - broker/salesparson 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 pedorming duties as an agent. Accounting - broker/salesp€rson will account to client(s) for all client(s)'money and property received as agent.

{3)

74.

lf Seller(s) decide(s) not to agr€B to a dual agency relationship, Selle(s) may give up the opportunity to sellthe property to Buyers represented by the broker/salesperson. lf Buye(s) decide(s) not to agree to a dual agency

7E

ralationship, Buye(s) may give up the opportunity to purchase properties listed by the broker.

63.

64. 65. 66.

67. 68. 69.

76

71. 72.

73.

76. NOTICE REGARDING PREDATORY OFFENDEH INFORMATION: Information regarding the predatory offender 77. reglstry and persons registered wlth the predatory offender registry under MN Statute 243.166 may be 78. obtalned by contactlng the local law enforcement offlces In the community where the property is located, 79. or the Minnesota Department of Correctlons at (651 ) 361 -7200, or from the Department of Corrections Web site at 80. www.corr.state,mn.us, MNTAGCYDISC-2 @lA7\

VVEBFormsil Novi2008

AGENCY RELATIONSHIPS IN REAL ESTATE TRANSACTIONS

RESULT$ r.n

2. e

4. c. A '7

q

L 10. 11. tz,

t',tl

Paqe

1

discuss with MINNESOTA LAW REOUIRES that early in any relationship, real estate brokers or salespersons

consumers what type of agency representaiion or relationship they desire.(1)The available options are listed below.This you must enter into a written is not a contract. This is ai aginci dlsclosure form only.lf you desire representation Until such time as you choose contract). representation buyer (a a or contract, accordlng to state law listing contract will not receive any represenlation and you as a customer be treated will for representalion, contract to enter into a written page from the broker or salesperson. The broker or salesperson will be acting as a Facilitator (see paragraph V on party, below as described two (2)), unless the broker or salesperson is representing another

ACKNOWLEDGMENT: lAfve aeknowledge that t/we have been presented with the below-described options.

that unill llwe have eigned a representation contract, l/we am/are not represented by the broker/salesperson.lflfrfe underetand that wrltten consent is required for a dual agency relationship. TH|S lS A DISCLOSURE ONLY! NOT A CONTRACT FOR REPRESENTATION.

l/V\te understand

13.(signaturs) - t,t 6;4 14. l.

*'\

"-?*CI1

(Date)

(Signalure)

seller's Broker: A broker who lists a prop€rty, or a salesperson who is licensed to the listing broker, represenls the Seller and acts on behalf of the Seller. A Seller's broker owes to the Seller the fiduciary duties described on page two (2).(r)The broker must also disclose to the Buyer material facts as defined in MN Statute 82.22' Subd.-8, ol which the broker is aware that could adversely and significantly affect the Buyer's use or enjoyment ol the property. lt a broker or salesperson working with a Buyer as a customer is representing the Seller, he or

15. 16. 17. 1g. 19. 20. 21. 22.

1.

ite$L; llS i-:et

ll.

she must act in the Seller's best interest and musl tell the Seller any information disclosed to him or her, except conlidential information acquired in a facilitator relationship (see paragraph V on page two (2)). ln that case' the Buyer will not be represented and will not receive advice and counsel from the broker or salesperson' Subagent: A broker or salesperson who is working with a Buyer but represents the Seller. In this case, the Buyer

25.

is the broker's cuslomer and is not r€pres€nled by that broker. lf a broker or salesperson working with a Buyer as a customer is representing the Seller, he or she must act in the Seller's best interest and must tell the Seller any information that is disclosed to him or her. ln that case, the Buyerwill not be represented and will not receive advice

26.

and counsel from the broker or salesperson.

23. 24.

27. 28.

29. 30. 31.

32. 33. 34. *tc,

lll.

Buyor's Broker: A Buyer may enter into an agreement for the broker or salesperson to represent and act on behalf of the Buyer" The broker may repr€sent the Buyer only, and not the Seller, even il he or she is being paid

in whole or in part by the Seller. A Buyer's broker owes to the Buyer the fiduciary duties described on page two (2).tzr 1nu broker must disclose to the Buyer material facts as defined in MN Statute 82.22, Subd' 8, of which the broker is aware that could adversely and significantly atfect the Buyer's use or enjoyment of the property' lf a broker or salesperson working with a Seller as a customer is representing the Buyer, he or she must act in the Buyer's best interest and must tell the Buyer any information disclosed to him or her, except confidential information acquired in a facilitator relationship (see paragraph V on page two (2)). In that case, the Seller will not be represented and will not receive advica and counsel lrom the broker or salesperson.

96. lV. Dual Agency. Broker Representlng both Seller and Buyer: Dual agency occurs when one broker or salesperson 87. represents both parties to a transaction, or when two salespersons licensed to the same broker each represent a gB. party to the transaction. Dual agency requires the informed consent of all parties, and means that the broker and Sg. salesperson owe the same dulies 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 49. will be shared. Dual agents may not advocate lor one party to the detriment of the other.(s) 44. 45. 46. 47.

48.

Within the limitations described above, dual agents owe to both Seller and Buyer the fiduciary duties described on page two (21.tzt Dual agents must disclose to Buyers material facls as defined in MN Statute 82.22, Subd. 8, of which the broker is aware that could adversaly and significantly atfect the Buyer's use or enjoyment of the property,

ju"\+

I have had the opportunity to raview the "Notice Regarding Predatory Offender lntormation"

Antilel)

49.

on page two. (2)

MN:AGCYDICS-1 (8/07) V\EBFormsw Nov/2008

ffiffi.

PURCHASE AGREEMENT This form approved by the Minnesota Association of REALTORS@, which disclaims any liability arising out of use or misuse of this form. O 2007 Minnesota Association of REALTORS9, Edina, MN

RT$ilLTS 'r',&1S{'1

3.

l{e3t! its

1. 2.

tl*i

Date

Julv 25.2009

Page 1 of

RECEIVED OF Nicole Hendrickson

4. c.

the sum of Two Thousand

o.

uy M CHECK

7.

8.

L 10.

11. 12. a '

j;:

f]

CaSX

fchack

I

on€.|---

Dollars ($ 2000

nOfe as earnest money to be deposited upon acceptance of

Purchase

Agreement by all parties, on or before the thlrd business day after acceptance, in the trust account of listing broker, unless otherwiee agreed to In wrltlng, but to be returned to Buyer if Purchase Agreement is not accepted by Seller. Said earnest money is part payment for the purchase of the property located at Street Address: 2647 3SthAve S City of Minneapolis

, County of Hennepin

State of Minnesota, legally described as Lot 000 Block 028 DORMANS lST ADDN TO MPLS LOTS 17 AND 18 ALSO TIIE S ItZ OF LOT 19 EX R R

R/w

15. including all fixtures on the following property, if any, owned by Seller and used and located on said properti 16. including but not limited to garden bulbs, plants, shrubs and trees; slorm 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 soften"r.F-g-y_T-:o_Fr#,)J:?._M_[o-L=, 20. built-in humidifier and dehumidifier, liquid fuel tank(s) [ owrueo I nenreo ffi none and conrrots (if the ---------

21.

/Check one.

)-------------------

property of Seller), sump pump; attached television antenna, cable TV jacks and wiring; BU|LEINS: dishwashers,

22.

garbage disposals, trash compactorg, ovens, cook-top stoves, microwave ovens, hood fans, intercoms;

23.

ATTAGHED: carpeting; mirrors; garage door openers and all controls; smoke delectors;fireplace screens, doors and

24.

heatilators; AND the following personal property

25. 26.

28.

all of which property Seller has this day agreed to sell to Buyer for sum ol (g r40000 One Hundred Forty Thousand

29.

which Buyer agrees to pay in the following manner:

30.

1' 2'

27.

3't.

36. 37' 38. 39. 40"

+-

percent (%) of the sale price, which includes the earnest money; pLUS

Financing, the total amount secured against this property to fund this purchase, not to exceed 95

percent (%) of the sale price.

\72.

33. 34. 35.

Cash of at least

Dollars,

Such financing shall be (check one) f, a flrst mortgage; I a contract for deed; subordinate financing, as described in the attachad Addendum:

4

9_:ly_*ti:::t

F

orf,a

first mortgage with

fff H.?yf. F..{::.y.rpll?t F*;c#fr_'.I tor Deed l_J Other:

The date of closing shall be September 25

This Purchase Agreement

,20 09

l9^p lS NOT subject lo a Contingency Addendumfor []---"foheck on€.|***

sale of Buyer's property.

(ff answer is lS, see attached Addendum,) (lf answer is lS NOT, the closing of Buyer's property, if any, may still affect Buyer's ability to obtain financing, if financing is applicable.)

MN:PA-I (8/07)

VvEBFomsil Feb/2009

/1

,

/t, h

ft##1ffi

FINANCING ADDENDUM SELLER'S CONTRIBUTIONS TO CLOSING COSTS AND DISCOUNT POINTS

RISULT$

!A&r;aii

This lorm approved by the Minnesota Association of REALTORS@, which disclaims any liability arising out of use or misuse of this form. @ 2006 Minnesota Association of REAI|ORSo. Edina, MN

iiesl*ts rr*t

1. 2.

3.

Addendum to Purchase Agreement between parties, dated

4.

the purchase and sale of the prope*y at 2647 38th Ave

Julv 25. 2009

Page

pertaining to

20

S

MN

Minneapolis 6.

Date

-,

55406

Selfer agrees to pay up lo (check one):

7. f,s

;of

8. m 3 L n

percenl

(o/o)

of the sale price; or

percent (%)of the mortgage amount

10. towards the Buyer's closing costs, prepaid items, and/or mortgage discount points as specified below. Any amount of 11. Seller's contribution that exceeds Buyer's actual cosls, or which cannot be used because the Seller's contribution 12. exceeds the maximum Seller contribution allowed by law or by mortgage requirements, shall be retained by the 13. Seller. 14.

The Buyer may use these funds toward:

15. fl 16. fl

Closing costs Prepaids

17.

f

'tR

NOTE: The amount pald by Seller cannot exceed the maximum Seller contribution allowed by FHA, DVA or lender. All funds pald by Seller on behalf of Buyer must be stated on the HUD.I at closing.

19.

Discount points (percent must ba based upon mortgage amount)

20.

lt,

^4**'€,

(Sell€4

(Date)

(BuF0

(Selle0

(Date)

(Buyer)

22. Z\t,

/--u-

7 ^" \\*r",tfl

(Date)

THIS lS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). IFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.

MN:FAMDP (8/06)

WEBFormsn Nov/2008

COMPENSATION DISCLOSURE TO BUYER This torm approved by th6 Minnesota Association of REALTORS9, which disclaims any liability arising out of use or misuse of this form. @ 2006 Minnesota Association of REALTORS9, Edina, MN

RESULTS i',.\r,ryr i{e3L, ats

1. Date

ntt

Ju1y25,2009

2.

lf Broker is receiving any compensation from a party other than Buyer, the following discloses such compensation.

3. 4.

Pursuant lo Contract for Right to Represent Buyer daled

undersigned Buyer and Broker, and relating to the purchase of property located 61 2647 38th Ave

MN

Minneapolis

6. 7. 8.

From Seller or Seller's

Broker

A2

% of sale price.

T

From Buyer

7o

that l/we have received a copy of this Compensation Disclosure prior to signing an offer to

,-z{ee-.4

REA4AX Results /Mike LaBelle

By: (Agenl)

Ll

7

-t

S'*o7

(Dat€)

(Buyei

(Dats)

(Date)

(Buyeo

(Date)

604 Bielenberg Dr #100 (Add16ss)

17.

of sale price.

Zs o

(Real Estet€ Compeny Nam6)

16.

is

trs

12. lArVe hereby acknowledge 13. purchase the property.

15.

-5s406

(eheck allthat apply)i

I t.

14.

S

it is understood that the Broker hereby notilies Buyer that the amount of compensation to be paid to Broker

e. 10.

between the

,20

Woodbury (Addr6ss)

(Address)

MN

55125 (Address)

MN:CDB (8/06)

VVEBFomsil Nov/2008

PURCHASE AGREEMENT 41.

Address 2647 38th Ave

42.

Page

S

2 Date Julv 25. 2009

43.

This Purchase Agreement

44.

48.

dated nla (lf answer is lS, said cancellation shall be obtained no later than ua said cancellation is not obtained by said date, this Purchase Agreement is canceled. Buyer and Seller shall immediately sign a Canceltation of Purchase Agreement confirming said cancellation and directing all earnest money paid hereunder to be relunded to Buyer.)

49.

Buyer has been made aware of the availability ol property inspections. Buyer

45. 46. 47.

I

tS

M

|S tqOf subject to cancellation of a previously wriften purchase agreement

**--(Ch€c,( on€'.F---

,20_.lf

50.

property inspection performed at Buyer's expense"

ct.

This Purchase Agreement

52. 53. c+. 55. 56.

57.

Z

I

elects

f

Declines to have a

------*-iOhs* one.|------

f]

lS lS NOT subject to an /nspection Contingency Addendum. *--'{Chd on6'JE--(ff answer is lS, see attached Addendum.)

DEED/MARKETABLETITLE: Upon performance by Buyer, Seller shall deliver a Warranty Deed or ffi Ottrer: speciaVlimited warranty Deed joined in by spouse, if any, conveying

I

;"l;ilil,,il;6il;-*--'

rcheck

od?€'I*-**-*---*-

(a) building and zoning laws, ordinances, and state and federal regulations; (b) restrictions relating to use or improvement of the property withoui effective forfeiture provisions;

58. 59.

(c) reservation of any mineral rights by the State of Minnesola; (d) utility and drainage easements which do not interfere with existing

60.

(e) rights of tenants as lollowe (unlass specified, not subject to tenancies):

improvements;

61. 62.

;

and

(f) others (must be specified in writing):

63. 64. 65. 66.

67.

68. H__?_Y_"'=_| _:l*|"f*t,8._:5_ll5l_:,I*.f_.LlY on date or closins anv deferred rear esrate taxes (e.s., Green 69. Acres) or special assessments, payment of which is required as a result of the closing of this sale. 70. I auven AND SELLER sHALL pRoRArE As oFTHE DATE oF cLostNG m sELLER sHALL pAy oN (Checl<

-71

onal--*

72.

DATE OF CLOSING all installments of special assessments certified for payment, with the real estate taxes due and payable in the year of closing.

73.

f

euven SHALL AssuME

fl selun SHALL PAY on date of closing all other speciat assessments

------***"(Ched( on€.}---*-' of the date of this Purchase Agreement.

tevied as

74. 75' H.-I.YI-EI g.:.t-1,:H:#i::..11--oyl?5-.1-9l..t1ry:I].9:."p"ciar assessments pendins as -:$-!:-l:-s.y..Y-t 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 ol 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)

\ryEBFormsu Feb/2009

BUYER PURCHASING "AS IS'' ADDENDUM 40, Page

41.

Property located

2647 38th Ave

MN

Minneapolis

S

55406

"1

42. SETTLEMENT lS FINAL: lt is understood that Buyer accepts the property "AS lsl'ANY WARRANTIES OF PHYSICAL 43. CONDITION OFTHE PROPERW 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 delivary ol 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.

61.

,/

(Sellar)

(Dat€)

(Bu)rer)

(seller)

(Date)

(Bu!€o

63. 64.

h-

:*z**u= (Date)

(Dare)

THIS lS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). IFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.

MN:BPAIA-z (8106)

WEBFormsil Nov/2008

BUYER PURCHASING "AS IS'' ADDENDUM

Rtfri4il(

This form approved by the Minnesota Association ot BEALTORS@, which disclaims any liabitity arising out of use or misuse of this lorm. @ 2006 Minnesota Association of REALTORS@, Edina, MN

RTSULTS

ivd,.';',Jt€suts irel

'1.

Date

2.

Page

Julv 25. 2009

3.

Addendum to Purchase Agreement between parties, dated

4.

to lhe purchase and sale of the property at 2647 38th Ave

5.

Minneapolis

6. 7. 8. 9. 10.

1'1.

DISCLOSURE REOUIRED: Under Minnesota law, Sellers of residential property, except by waiver or with limited exceptions, are obligated to disclose to prospective Buyers all material facts of which Seller is aware that could adversely and significantly affect an ordinary Buyer's use or enjoyment of the property or any intended use of the property of which Seller is aware. Such a disclosure is not a warranty or a guarantee of any kind by Seller or licensee representing or assisting any party in the lransaction. Seller agrees to notify Buyer immediately in writing of any substantive changes from any prior representations regarding the property.

12.

(Check appropriate box.)

13. I

20

,

pertaining

S

MN

-

55406

euyer has received and had an opportunity to review the Se/ler's Property Disclosure Statement;

14. or 5. ffi Suyer has received and had an opportunity to review the Sel/er's Disclosure Alternatives torm. 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 lS'. 18. Buyer understands that the property, as defined above, witl 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 ol the Purchase Agreement and the 21. closing date, Seller shall be responsible for restoring the properly 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. dats of closing. This provision voids lines 21S-2'12 of the Purchase Agreement. 26. RISK OF LOSS: The Risk of Loss provision in the Purchase Agreement is modified as follows. lf there is any loss 27. or damage to the property between the date of Purehase Agreement and the date of closing for any reason, including fire, 28. vandalism, flood, earthguake or aet of God, the risk of loss shall be on Seller except that Seller shall have NO 29. OBLIGATION OR RESPONSIBILITYto repairorreplace centralair-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. lf 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 Saller. lf Buyer cancels this Purchase Agreement, Buyer and Seller shall immediately sign 34. a Cancellation of Purchase Agreamenf confirming said cancellation and directing all earnest money paid hereunder 35. to be refunded to Buyer. 'f

37.

RIGHT OF INSPECTION: Buyer shall have the right to inspect the property or to have it inspected by a person of Buyer's choice, at Buyer's Bxpense.

38. 39.

THIS lS A LEGALLY BTNDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). IFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.

36.

MN:BPAIA-1 (8/06)

WEBFormsru Nov/2008

fi.\r-"'

ADDENDUM TO PURCHASE AGREEMENT DISCLOSURE OF INFORMATION ON LEAD.BASED PAINT AND LEAD-BASED PAINT HAZARDS 38. Page

39.

Property located at 2647 38th Ave S

40.

Real Estate Licensee's Acknowledgement (initial)

(t)

A1

42.

43. 44. 45.

Minneapolis

MN

55406

Real estate licensee has informed Seller of Seller's obligations under 42 U.S.C. 4852(d) and is aware of licensee's responsibility to ensura compliance.

Certificatlon of Accuracy The following parties have reviewed the information above and certify, to the best of their knowledge, that the information provided by the signatory is true and accurale,

,,n"t -4. {-

46.

--zs^*v

(Seller)

(Date)

(Buye0

(Seller)

(Data)

(Buye0

(Dato)

(Resl Estata Licens8€)

(Datc)

(R€al Estate Licensee)

(Date)

47.

48.

49. 50.

Section ll: Contingency (tnitial only if first bax under (e) is checked in Buyer's Acknowledgment above.) This contraet is contingenl upon a risk assessment or an inspection of the property for the presence of leadbased paint and/or lead-based paint hazards to be conducted at Buyer's expense. The assessment or inspection

52.

shallbe completed within

Iten

(10)

n

calendar days after acceptance of the Purchase Agreement. This

53. contingency shall be deemed removed, and the Purchase Agreement shall be in full force and effect, unless Buyer or 54. real estale licensee representing or assisting Buyer delivers to Seller or real estate licensee representing or assisting 55. Seller, within three (3) calendar days afterthe 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. lf 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 requirad 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. lt is understood that Buyer may unilaterally waive deficiencies or defects, or remove this contingency, 62. providing that Buyer or real estate licensee reprosenting or assisting Buyer notifies Seller or real estate licensee 63. representing or assisting Seller of the waiver or r€moval, in writing, within the time specified. TLX:SALE-2 (8/06)

VVEBFormsft Nov/2008

,

tr\,\n ,

PURCHASE AGREEMENT 81,

Address 2647 38th Ave

82.

Page

3

S

Date Julv 25. 2009

83. As of the date of this Purchase Agreement, Seller represents that Seller I nlS Z nAS NOT received a notice -----*/Cneck 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 Agreemenl and before closing 86. shall be provided to Buyer immediately. lf such notice is issued after the date of this Purchase Agreement and on 87. or before the date o{ 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 pariy 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. lf either party declares this Purchase Agreemenl canceled, 91. Buyer and Seller shall immediately sign a Cancellatian of Purchase Agreement confirming said cancellation and 92. directing all earnest money paid hereunder to be refunded to Buyer. 93. Buyer shall pay m PRoRATED FROM DAY oF CLOSING I 12ths oF tr ru-l f r'lo reat esrate taxes due 94.

and payable in the year 20 09

95.

serrer sharr

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esrare raxes due and

96. payable in the year 20 09 . ll 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 shatt be m-F_ul-_L-#l*l_E-[qt 98. homesteadclassification. 99. lf part- or non-homestead classlflcatlon ls checkad, Seller agrees to pay Buyer at closing $ n/a 100. toward the non-homestead real estata 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 16"n 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 tha 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' 110. 111' 112.

TITLE AND EXAMINATION: Within a reasonable time period after acceptance of this Purchase Agreement, Seller shall provide one of the following title evidence options, at Seller's selection, which shall include proper searches covering bankruptcies, state and federal judgments and liens, and levied and pending special assessments to Buyer or Buyer's designated title service provider: (1) A commitment for an owner's policy of title insurance on a current ALTA form issued by an insurer licensed to write title insurance in Minnesota as solected by Buyer. Seller shall be responsible for the tiile search and exam costs related to the commilment. Buyer shall be responsible for all additional costs related to the issuance of the title insurance policy(ies) including but not limited to the premium(s), Buyer's name search and plat drawing, if any. Seller shallsurrand€r a copy of any owner's title insurance policy and Abstract of Tiile, if in Seller's possession or control, for this property to Buyer or Buyer's designated title service provider. (2) An Abstract of Title certified to date if Abstract Property or a Registered Property Abstract (RpA) certified to date if Registered (Torrens) property. Seller shall pay for the abstracting or RPA costs and surrenoer any abstract for this property in Seller's possession or control to Buyer or Buyer's designated title service provider, ll property is Abstract and Seller does not have an Abstract of Title, Option (1) will automatically apply.

'13. 114' 15' 116. 117' 18. '19' 120' 121. 122' 1

1

1

1

123. Seller shall use Seller's best etforts to provide marketable title by the date of closing. ln the event Seller has not 124' provided marketable title by the date of closing, Seller shall have an additional 30 days to make tifle marketable, or rn 125. tho alternative, Buyet may waive title defects by written notice to Seller. ln addition to the 30-day extension, Buyer 'l26. 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 ihe other 128' party, in which case this Purchase Agreement is canceled. lf either party declares this Purchase Agreemenicanceled, 129. Buyer and Seller shall immediately sign a Cancottation af Purchase Agreement confirming said cancellation and 130. directing all earnest money paid hereundar to be refunded to Buver.

MN:PA-3 (8/07)

VVEBFomstu Feb/2009

,1,{n,

PURCHASE AGREEMENT 2647 38th Ave S

249. Address

250. PageT Date Ju1Y25,2009 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. 258. 259. 260. 261.

writing.

262. n 263.

264.

Purchase withdraw instructed

l, the owner of the property, accept this Agreement and authorize the listing broker to said property from the market, unless otherwise in I have reviewed all pages of thls Purchase Agreament.

266.

267.

X

7-z{.-<}7

Nicole Hendrickson

{Seller's Prlntsd Name)

(Buyer's Printed Name)

(Marital Status)

(Marital Status)

X

X

(Dat€)

(Buyeis Signature)

X (S€ll6fs Printed Nam€)

269.

/4

(Buyot's Signature)

I

X

"

/-,

(Dat6)

(Seller's Slgnatu16)

268.

I have reviewed all pages of this Purchase Agreement.

ff checked, this Purchasa Agreement ls sublect to attached Counterotter Addendum.

(Selle/s Signature)

265.

I agree to purchase the property for the price and on the terms and conditions set forth above

(Buy€fs Printed Name)

X

X (Marltal Status)

270. FINALACCEPTANCE 271.

272.

(Marital Status)

DATE

TH|S tS A LEGALLY B|ND|NG CONTRACT BETWEEN BUYER(S) AND SELLER(S). IFYOU DESIRE LEGAL ORTAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.

273. ACKNOWLEDGET}IAT

I HAVE REGEIVED AND HAVE }IADTHE OPPORTUNITYTO REVIEWTHE ARBITRATION

274. 'DISCLOSURE AND BESIDENTIAL

REAL PROPEBTY ABBITNANON AGREEMEN]T, WHICH IS AN OPTIONAL,

275. VOLUNTARY AGREEMENT AND IS NOT PART OFTHIS PURCHASE AGREEMENT.

IA ,2,*-& Nicole Hendrickson

276. SELLER(S)

BUYER(s)

277. SELLEH(S)

BUYER(S)

MN:PA-7 (E/07)

VVEBFo/Irtsil Feb/2009

PURCHASE AGREEMENT 2647 38th Ave S

208. Address

209. Page6 931s JuIY25,2009 210. SELLERWARRANTSTHATCENTRALAIR.CONDITIONING, HEA;flNG, PLUMBING ANDWIRING SYSTEMS USED 211. AND LOCATED ON SAID PROPERW SHALL BE IN WORKING ORDER ON DATE OF CLOSING, EXGEPT 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 THATTHE PROPERTY IS IN SUBSTANTIALLYTHE SAME CONDITION AS OFTHE DATE OF 215. THIS PUHCHASE AGREEMENT. 216. BUYE*

H ll_s,"p*:lf...I_oJ.*EcErvED

A sELrER',s PR2PERTr DtscLosuRE srArEMENr oR

A

217. SETLEB'S DISCLOSURE ALTERNATIVES FORM.

218. BUYER HAS RECEIVEDTHE INSPECTION REPORTS,IF REQUIRED BY MUNICIPALITY. SELLER AGREESTO 219. NOTIFY BUYER IMMEDIATELY IN WRITING OF ANY SUBSTANTIVE CHANGES FROM ANY PRIOR 220. REPRESENTATIONS REGARDINGTHE PROPERTY. 221

.

IN

THE EVENT A SELLEP'S D/SCLOSURE ALTERNATIVES FORM IS USED IN THIS TRANSACTION. D]SREGARD

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 f] HAS I nAS NOT HAD A WET BASEMENT AND n HAS I HAS NOT HAD ROOF, WALL OR --*---(Chack one.l------228. CEILING DAMAGE CAUSED BYWATEB OR ICE BUILDUP.

229,

------(Ched< one.I-------

DUALAGENCYREPRESENTATION

230, PLEASE CHECK O'VEOFTHE FOLLOWING SELECTIONS: 231. n Dual Agency representation DOES IVOTapply in this transaction. 2312.

VDual

Dr.srega

rd lines 292-248.

Agency reprosentation DOES apply in this transaction. Comptete 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. dualagency.This means that Broker and its salespersons owe fiduciary duties to both Seller(s) and Buye(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 Buye(s). 237. Selle(s) and Buyer(s) acknowledge that 238. 239. 240.

(1) conlidential informalion communicated to Broker which regards price, terms, or motivation to buy or sell will remain confidential unless Selle(s) or Buyer(s) instructs Broker in writing to disclose this information. Other

24't.

(2) Broker and its salespersons will not represent the interest of either party to the detriment of the other; and (3) within the limits of dual agency, Broker and its salespersons will work diligently to facilitate the mechanics of

242. 243.

information will be shared;

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

l-

r

s*^ <:

MN:PA'6 (8/07)

V\iEBFomsil FeU2009

PURCHASE AGREEMENT 176. Addres. 2647 38th Ave 177.

178. ENVIRONMENTAL CONCERNS:To the best ol SellEr's

Page5

S

9s1s JuIY25,2009

knowledge, there are no hazardous substances or underground

179. storage tanks except herein noted: 80. 181.

1

182. 1R?

84. 85. 1 86.

1 1

'187. 1

88,

189. (Check approprlate boxes.) 190. SELLER WARRANTS THAT THE PROPERTY IS EITHER DIRECTLY OR INDIRECTLY CONNECTED 1e1

.

Crry sEwER ffives

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WATER

myEs

I

TO:

uo

192. PRIVATE SEWER SYSTEM 1e3. SELLER CERTIFIES rHAr SELLER

_r_.?9JBH"?,o.r::..1_?I

KNow oF A pRtvArE sEwER sysrEM oN oR

194. SERVING THE PROPERW. (lf answer is DOES, see Private Sewer System Disclosure Statement.) 195. PRIVATEWELL 196. SELLER CERTIFIES THAT SELLER

OOSS f OOES NOT KNOW OF A WELL ON OR SERVTNG THE I-----*"* heck on€.F-**-.-(C

197. PROPERW (lf answer is DOES and well is located on the property, see WellDisclosure Statement.) 198. THIS PURCHASE AGREEMENT

199.

n

z

|s |s nOr SUBJECT TO A 7R\VATE SEWER AND WELL tNSpECTtON *- --- ( C hac,l( onc. r-* --CONITNGENCY ADDENDUM. (lt answer is lS, see attached Addendum.)

2OO. IF A WELL OR PRIVATE SEWER SYSTEM EXISTS ON THE PROPERW, BUYER HAS RECETVED 201. DISCLOSURE STATEMENTAND/OB A PRIUATE SEWER SYSTEM DISCLOSURE STATEMENT. 202.

26.

WELL

NOTICE

Michael LaBelle (Llc6ns€e)

2g4.

A

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jg::lQ-':r:lzffiT:F_?:1lg:lFlrlig:_::

RE/IVIAX Results (R€al Estal€ Oompany Nema)

2g5,

Brian Delisle (Llcens€6)

296. RE/MAX

i:..H.H.:.:.:.S*"ll-E-B:y-:lZn*T:F_?Htg_:lFt_13ll*el

Results (Real Estate Company Name)

207.

THIS NOTICE DOES NOT SATISFY MINNESOTA STATUTORV AGENCY DISCLOSURE REQUIREMENTS.

MN:PA-S (8/07)

\ryEBFormsil Feb/2009

f't l.

PURCHASE AGREEMENT 131.

Page 4

132, SUBDIVISION OF LAND: lf this sale constitutes or requires a subdivision of land owned by Seller, Seller shallpay 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 {or recording as of the date of closing. Seller warrants 135, that the buildings are or shall be constructed eniirely within the boundary lines of the property. Seller warrants that 136. there is a right ol access to the property from a public right-oFway. 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 improwment to, the property. 14'1

.

Seller warrants that Seller has not received any notice from any go\ernmental authority as to condemnation proceedings,

142. or violation of any law, ordinance or regulation. lf 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 properg for performance of any surveys or inspections agreed to 146. herein. 147. RISK OF LOSS: lf there is any loss or damage to the property between the date hereo{ and the date of closing for any 148. reason, including fire, vandalism, flood, earthquake or act ol God, the risk of loss shall be on Seller. lf 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. lf Buyer cancels this Purchase Agreement, 151. Buyer and Seller shall immediately sign a Caneellation of Purchase Agreemenf conlirming said cancellation and

'152. directing all earnest mon6y paid hereunder to be refunded to Buyer.

153. TIME OF ESSENCE: Time is ol the essenc€ in this Purchase Agreement. 154. ENTIRE AGREEMENT: This Purchase Agreement, any attached exhibits and any addenda or amendments signed 155. by the parties shall constituta 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: 161. delivered,

To be binding, this Purchase Agreement must be fully executed by both parties and a copy must be

162' DEFAULT: ll Buyer defaults in any of the agreements hereunder, Seller may terminate this Purchase Agreemenl 163. under the provisions of MN Statute 559.21. lf aithEr 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. S.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. lf this Purchase Agreement is not canceled or terminated as provided hereunder, Buyer or Seller may seek actual 169' damages lor 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 otfender 1

72.

registry and persons reglstered wlth the predatory otfender registry under MN Statute 243.166 may be obtained

173. by contactlng the local law enforcement olflces in the community where the property is located or the Minnesota 174. Department of Correctlons at (651) 361-7200, or from the Department of Corrections web site at 1 75. www.corr.stale.mn.us. MN:PA-4 (8/07)

WEBFormsil Feb/2009

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