11/03/97 Trippet/Property Offered for Sale., Ltd. 9 Tripp-'s Quality Printing
�323 Main Street Kalivell,`IVIT 59901 (406) 752-9000 `
Date:memo,
November `3,1
oMayor, i
.l d"Gallagher
n Trit
e: o f t f 1 36 is 16
Cc:of for originallyto ' bThe property Fm utwith`h
happeningchanges d a ai i s esellingd selling. I
d
finally decided t it f ie original o f d° multiple ,' learned
that city throughitsPreliminary Budget d allocated y to p e t
side of the airport from private
owners for e F d Airport ids
proposed d acquisition in investment. Instead of doing a cash deal now over the
Lots 15 and 16 of Blamind' d negotiate with the cityover
piecemy later, I thought to just trade the two propertiesnow straight across, would bsimpler
dian later voly another d y, ` it s " order to find a
acceptable property for me when the FAA Airpoit Land Acquisition comes up.
Tbank you
Ron Trippet
REAL ESTATE PURCHASE A SALE AGREEMENT AND RECEIPT FC_`'SARNEST MONEY IR
I.= RI -AL r Oil"
THIS 19 A LEGALLY BINDING CONTRACT, DEAD THE ENTIRE DOCUMENT, INCLUDING THE GENERAL PRINTED PROVISIONS ON THE REVERSE SIDE AND ANY 1
ATTACHMENTS, CAREFULLY, BEFORE SIGNING. F YOU HAVE ANY QUESTIONS CONSULT YOUR ATTORNEY BEFORE SIGNING.
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4WMAR No. 1 ,-- — ,Montana. lW3I 19 97
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RON TRIPPEI' AND OR ASSItmNS--_--.--------_------- ni (_ .11Ro5. (i nthnr
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(hereinafter called "Buyer") agrees to purchase, and the undersigned Seller agrees to sell the following described real estate hereinafter iofetred to as "premises"
a
commonly known as _ 1 ST AVE._EAS'I _. _-----._ _ t:fly of, _—_ _ _KALISPELL
a
County of, FLATHEAD Montane, legally described as: IQI;J_5AND T -¢ Q r BLOCK36_ ISPELL
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owner(s) of record: CITYCIF KALISPELL /KALISPELL DEVELOPMENT CORP
a
(A FULL AND COMPLETE LEGAL DESCRIPTION MUST BE INSERTED OR ATT ACHED PRIOR 10 EXECUT ION By SELLER, Buyer hereby authorizes broker to insert over his
signature the correct legal description of the premises I unavailable at the time of signing, or to correct the legal description previously entered h erroneous or incomplete)
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EARNEST MONEY Earnest monies shall be deposited pursuant to Montana state law or within 3 banking days of all parties final acceptance of this agreement.
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(a)) Buyer hereby deposits as earnest money and a receipt Is hereby acknowledged of —
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( $0,00 ► evidenced by ❑ Cash ❑ Personal Chock ❑ Cashiers Chock ❑ Note Due M or D EF CH ANGET"TRIK
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(b) AN parties to this transaction agree that such funds will be held In a trust account by --CRMK OLSON TRUST
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Parties agree that Interest accruing on earnest money. I any, while deposited shall be payable to
In
and If Interest Is payable to tie broker it Is agreed that sums so paid are consideration for services rendered
is
(c) The parties agree lhfLAT AD COUNT% a Company shall provide title policy and preliminary report of commitment and the "dosing agency' for this transaction
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shag be FLATIJEAD TITLE If a long-term escrow/collection Is Involved, then the escrow holder shall be ®
is
1. TOTAL PURCHASE PRICE I:i (u s)
1s
20
payable as follows
41
earnest rnonoy to be nppllod or cio Jnrl
2
as additional cash down payment, payable on or before dosing (Closing costs are additional)
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�p balance of the purchase price will be paid as follows (M I P not included)
f
2. FINARL 5. Buyer to secure the following financing U FHA, U VA, U Conv, ❑M B 0 Ti , Ij Fml IA, U Asaunptlon of oxisitng loan(*), 1 J Sollor-rinnndtig
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(a) ❑ NEW FINANCING. Purchase loan balance, as noted above, for a period of years at % per annum (If FHA or VA loan Is sought, read the applicable
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provisions on the reverse side hereof.) Myer shall pay no more than points plus origination tee 9 any. Seger shall pay no more then points
2e
to obtain above described financing. Any reduction In points shag first accrue to the benefit of the O Buyer O Seller.
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(b) ❑ ASSUMPTION. Dyer to ASSUME and O will or O will not be required to qualify for an EXISTING LOAN(S) of approximately $
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Including % Interest with monthly payments of npproxlm rloly $ _.. ❑ P ❑ 1 ❑ T ❑ 1
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This agreement 0 does O does not require Lender to release Seller's liability. Type of loan FLIA
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(See Items 816 and 816 on reverse side.) ---- - -- - _-- — _-- - 31
IS AN EXCHANGE PROPOSAL RON WISHES TO EXCHANCE Pa
3. OTHER FINANCING, TERMS AND / OR CONDITIONS:TIIIS
QPEI37CY_A T 25M HW.Y_93..S0M1JJ TBAI <1;.1 _C.0.3_7Q15._BQT11.P " 'IES_S - CDIM' - PINS_
"
CLFARI.V_1\ AR_KFD AND IDE ' I R O C_ OSIN ' CI''V 'I'O PI20VIDE TYPE i EN IRONMENTAI.
34
3a
4. CONTINGENCIES.
(a) None (no contingencies apply)
(b) New financing/Amimption -(See Items A 16 and 016 on reverse side)
ODoes Does NOT contain Seller's contingency waiver. (See Item 817 on rovers* side.)
(c) Closing of on or before __. IIJod with
ODoes Does NOT contain Seller's contingency waiver. (See Rem 81T on reverse olds.)
(d) ❑ other (specify) SEE ADDENDUM
ODoes O Does NOT contain Seller's contingency waiver. (See Item 81T on reverse Bids.)
�. PERSONAL PROPERTY. Tho following Harris. Iron of linns and without warranty of condition, are Included: (FHA I VA ace Item ft 16 on rovers* side:)
-.-----•.-.--------__------------_-------.____..._____.-__._.____------._-_.__..__...---_-----noportylmsd ------ srnokodolectors
CIX�J�ES SPECIF ICALLY EXCLUDED IN THIS SAL E:
7• COSTS PAID BY: Costs in addition to those fisted below may be incurred by Buyer and Seller Unless otherwise agreed herein, or provided by low or required by tender,
Buyer shall purchase Seger's reserve account If loan is assumed. Buyer's Extended Coverage Tile Policy requested. 0 Yes 0 No
Additional premium paid by (See Item 019 on reverse old*)
Q iayiicited lily (eiiiiei of otliiiiwlie d5teil Iieheli; (lib b6lii:i insTs [io p51ii ns 6i86 it il'
Costs Water contract anhYor
Loan Water Purr /Inspect Rights Dncumrrd
Pad By Appraisal Assumpt. Test Septic Transfer pry
Closing
Apeni's
Fee
Long Term
Escrow
Fees
_. _ .._..... _._
Opening
Escrow
._ ____ . _ _
Existing
SID's
...- ---
Lender
or Code
Repairs
- Other
BUYER
0
0
0
O
0
0
0
O
0
0
0
0
n
—
SELLER _
O
_ O
O__...--
--_�
v --
_
- - (��-
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- -x—
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..._._—._lL..—_..
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ME E*hWiV--�
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If cost of tender or code repairs exceed $ 0 buyer's obligation to purchase and seller's obligation to soil terminates. Discount
points to be paid as agreed on line 26 and 27.
8. POSSESSION. Buyer shall be entitled to possession on O dosing Lit other
"Closing" means the dnio on whidi all docwnonts are editor iocordod of aa.optod by an o,crow agent mid the role proceeds ere available to Seger Taxes and water
assessments (ushia the last available assessment as a basis), rents, Interest and reserves, dens, encumbrances, or obligations assumed, and utilities shall be pro -rated as of
�c I A - )'� - (-� Buyer shag pay for fuel in tank, amount to be determined by the supplier at Seller's expense. (See Rom 823 on reverse olds)
9. CIMING. On or before the dosing date, Buyer and Seger shag deposit whit the closhig agency all funds and Instruments necessary to complete the sale. The closing date
shag be no later than _ J--� - I r:.-, -- ` I -1 ((See Item 8/244 on rovers* old*)
'18. IMPORTANT - AGENCY DISCLOSURE. At tho ilrro of r;igning this agrootnent fire agnnl worleing whir tho buyer la a () Seller's `,:� Buyers i, Jstatnrure`) Dual
Soper buyer rr:Aidory Do3l Agent
mid Ili* ngant warWng wtth Ihn !u Hnr P. n ) Artrnr . - Alir+h�t � ) nn4,ry , ! Agent rMir party Jgning thin dnrurnnnt rmifirrnn flint prior wrhtmh disdnsure of agency
was provided to film/hot In this tronsadion Each party to Nils tionsnctfon Ides rend and undorrhnnrts the contents of the agency discfowre proviousy received
Listing Office: Selling Office. CIIUCK OLSON REAL ESTATE
By Phone: BY 5;O1RDON Z1.I_L-+MLSDORFF Phone: 7521(100
1 1. ACCEPTANCE. Buyer's offer is made subjectto the accoptance of Seller on or before 5:PM NOV, O A M PM of � If Seiler does not
accept this agreement within the time specified, the entire Earnest Money shag be refunded to Buyer on demand TIME IS OF THE ESSENCE 1 THIS AGREEMENT.
tCJ
r1��1I See nttoched ddendum (sIr 1 L 1 See nitndhed Counter Offor(s)
Bayer: X (!i 1 .!:.R ? Inryor'rt Addiom l�Bi'1� 1
�+ - t
Buyer: X _ _-.. _ ... _ _ _ _ _ _ Ruynr's Phnrhn Rn ldnm o _ _ ___
On this data, I / we hereby approve and accept the sale sot forth in the above agreement mid agree to carry out an tie terms thereof on the part of the Seger' _
I / we further acknowledge receipt of a true copy of this agreement signed by both parties ❑ See attached Counter Offer(s)
SELLER: X _
---------_---- ---_---..____-- Dale:_____._.____ ..._.._ _ Seller's Address:
SELLER: X . .. Date: , _ - - _ - Seller's Phone: Residence:
_ _ ...._ . _ Business:
A true copy or the foregoing agreement, signed by the Seller and containing file A copy of this contract hearing Buyer(s) signature and that of the Seller(s) was sent
full and complete legal description of the premises, is hereby received on this via ordinary or certified rnail to the Buyer.
day of --._........_ _ 19 Date:
BUYER: X LICENSEE: X
---..-..- --. _.. -- -- _ -- __ - -- -- ---- --------- ___ ----- THE PROVISIONS PROVISIONS CONTAINED ON THE REVERSE SIDE (PAGE 2) OF THIS CONTRACT SHALL ALSO CONSTITUTE PART OF THE AGREEMENT OF THE PARTIES,
EACH OF THE PARTIES ACKNOWLEDGES READING THIS AGREEMENT AND ALL ADDENDUMS IN FULL..,
BUYER'S INITIAL X SELLER'S INITIAL X
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37
38
3s
40
41
42
43
44
48
40
47
4s
49
so
611
52
33
54
as
64
07
as
art
00
01
62
63
64
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es
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70
71
72
73
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74
75
78
77
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79
80
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ADDENDUM • No.
In reference to the O Purchase Agreement, O Exchange Agreement, O Lease, O Counter Offer
--- covering the ® real property, Q business opportunity, O premises ---- commonly known as
dated
r
I
, 19 97 , between CITY OF KALISPELL AND RON TRIPPET (buyers),
and (sellers),
the undersigned Parties hereby agree as follows:
CLOSING TO BE NO LATER THAN DEC. 15, 1997. ALL CLOSING COSTS PAID BY THE CITY, EXCEPT
BROKER FEES. INCLUDING ALL TITLE INSURANCE
THIS TRANSACTION SHALL BE A 1031 TAX DEFERRED EXCHANGE OF UNDETERMINED VALUE.
AJLOWNERS SHALL HAVE ALL Corner PINS LOCATED AND IDENTIFIED.
THE CITY SHALL PROVIDE A TYPE ONE ENVIRONMENTAL EVALUATION OF THE CITY PROPERTY
ALL DOCUMENTS 1'0 BE RE, VIEWEDJRY ATTORNEY FOR RON AND APPROVED WITHIN 10 DAYS
RON TO BE ALLOWED TO ALLOCATE VALUES TO IMPROVEMENTS FOR DEPRECIATION.
RON WISHES TO ENTER INTO PRIVATE NEGOTIATIONS WITH THE CITY TO TRY TO ACQUIRE THIS
PROPERTY, IF THESE TERMS ARE NOT EXACTLY SATISFACTORY PLEASE CONSIDER THIS AS A SINCERE
ATTEMPT TO OPEN A DIALOG. YOUR RESPONSE IS EAGERLY ANTICIPATED.
The herein agreement, upon its execution by both parties, is herewith made an integral part of the aforementioned
Agreement of Sale.
DATED: I jy�� 7 TIME: DATED: TIME:
----
�t'4'_ = __ _ Buyer ---_ _
- _- __ _. . - Seller
Witness.,
--- .._ ..
_. - .-Agent Witness_----_-_, - — .. ---
----- _........ .--------.. --- Agent
FORM 101-8
(3-90)
COPYRIGHT t, 1990, BY PROFESSIONAL PUBLISHING CORP. 122PAULDR, SANRAFAEL, CA 94903
(415)472-1964 - PROFESSIONAL
PUBLISHING