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92-009
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92-009
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<br />I!'-' <br /> <br />... <br /> <br />, . <br /> <br />DONATION AGREEMENT <br /> <br />THIS AGREEMENT Made this ..1atrtay of January , 1992, by and between <br />Builders Development and Finance, Inc., (hereinafter referred to as "Donor") and <br />the City of New Brighton. a Minnesota municipal corporation (hereinafter "Donee"); <br /> <br />WITNESSETH: <br /> <br />WHEREAS, Donor is the owner of certain real property in the City of New <br />Brighton legally described on Attachment One. attached hereto and hereby made a <br />part hereof (hereinafter "Subject Parcel"); and <br /> <br />WHEREAS, Donor wishes to donate the Subject Parcel to Donee; and <br /> <br />WHEREAS, Donee is willing to accept said donation on the terms and conditions <br />hereinafter set forth; <br /> <br />NOW, THEREFORE, IT IS AGREED on the basis of the premises and of the <br />mutual covenants and agreements hereinafter set forth: <br /> <br />1. At Closing, Donor will transfer to Donee a standard form Warranty Deed <br />for the Subject Parcel and other documents necessary to effect transfer of title for <br />the Subject Parcel to Donee. <br /> <br />2. Donee will be responsible for the payment of all current and delinquent <br />ad valorem taxes, interest and penalties on such taxes for the Subject Parcel. <br /> <br />3. Donee will pay all expenses of review of title for the Subject Parcel. <br /> <br />4. In the event Donee determines that title is not acceptable, in its absolute <br />and sole discretion, it may declare this agreement to be null and void and of no <br />further force and effect, at any time prior to closing. <br /> <br />5. Donee may undertake. at its own expense. any review, sampling and <br />testing of the Subject Parcel as it may deem in the interest of the public. In the <br />event Donee determines, in its absolute and sole discretion, that the Subject Parcel <br />is not acceptable for its purposes or that acceptance of the Subject Parcel is not in <br />the public interest due to the condition of soils or due to the environmental <br />characteristics of the site, or concerns about the same, it may declare this agreement <br />to be null and void and of no further force and effect, at any time prior to closing. <br /> <br />6. Donee shall not payor give any consideration for the transfer and <br />conveyance of the Subject Parcel by Donor, other than that which is specifically set <br />forth in this agreement. <br /> <br />7. <br />Parcel. <br /> <br />Donee will pay all filing fees for recording the deed to the Subject <br /> <br />8. Closing for the transfer of title to the Subject Parcel shall be held at <br />New Brighton City Hall on January 31st , 1992. <br /> <br />CLL11243 <br />NE136-8 <br />
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