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CCT 20 1999 14:49 FR HINSHhW CULBERTSOM TO 92494E16 P.02/03 <br />ADDENDUM TO PURCHASE AGREEMENT <br />BY AND BETWEEN <br />THE CITY OF ORONO ("BUYER") <br />AND PAUL W. LARSON AND KATHLEEN P. LARSON ("SELLER") <br />THIS ADDENDUM TO PURCHASE AGREEMENT is executed this__day of <br />1999 by Buyer and Seller, simultaneously with the Purchase Agreement to <br />which it is attached, relating to the Purchase .Agreement between Seller and Buyer for the sale <br />and purchase of Seller’s property at 3790 Shoreline Drive, Orono, Minnesota. <br />In addition to the tenns and conditions of the Purchase Agreement, and <br />notwithstanding to the contrary therein Seller and Buyer have agreed: <br />Contingencies. <br />a) The closing of the transaction reflected in the Purchase Agreement is <br />conditional upon the approval of the Purchase Agreement by the City Council of the City of <br />Orono on or before October 25, 1999. <br />b) The closing of the transaction reflected in the Purchase Agreement is <br />conditional upon the securing of a real estate appraisal, by the Seller at his expense, <br />confirming the valuation of he property to be at least 5215,000.00. <br />c) The inspection of the property by the Buyer. The inspection shall be <br />completed on or before November 30, 1999. If Buyer determines, ai its sole discretion, that <br />the results of the inspection are not satisfactory, it may terminate this Purchase Agreement. <br />Buyer may enter onto the property for such inspection which may include, but not be limited <br />to the preparation of an environmental impact statement. <br />In the event of a failure of these contingencies or conditions, the earnest money paid <br />by Buyer to Seller shall be promptly returned and this agreement shall be null and void. <br />2) Real Estate Taxes. Real Estate taxes due and payable in 1999 shall be paid <br />by Seller. <br />3) Legal Description. The legal description of the property ’ which is the subject <br />of the Agreement is agreed to be that reflected In that certain Personal Representatives Deed, <br />recorded in the office of the Hennepin County Recorder as Document No. 4960639 to Paul <br />W. Larson, Grantee, a true and correct copy of which is attached hereto as Exhibit 1. <br />4) Removal of Personal Property and Items Stored on Property. Seller shall <br />remove dl such items stored on the grounds of the property, and all debris, prior to closing. <br />on7/:::8H5a ic/'so-s?