PURCHASE AGREEMENT
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For and in consideration of the terms hereof, Aberdeen Development
Corporation of ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇,
hereinafter referred to as "Buyer", and APA Enterprises, Inc. of ▇▇▇▇ ▇▇ ▇▇▇▇
▇▇▇▇, ▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, hereinafter referred to as "Seller" agree to the sale
and purchase of the following described real property in ▇▇▇▇▇ County, South
Dakota as follows:
1. DESCRIPTION:
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North 200 feet of Lot 2 of the ADC 2005-1 Subdivision in Aberdeen, ▇▇▇▇▇
County, South Dakota.
2. PURCHASE PRICE: The total purchase price shall be the sum of $ 120,000.00,
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which shall be paid via the retirement of the outstanding loan between the
parties as agreed upon on April 13, 2005.
3. TAXES: Buyer to assume all taxes remaining unpaid and owing for 2005 and
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thereafter.
4. TITLE: Seller shall provide to Buyer a properly executed Warranty Deed
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conveying to Buyer from Seller good and merchantable title to said
premises, subject to all zoning regulations, restrictive covenants,
reservations, rights-of-way and easements of record, and any rights of
tenants and lessees. Buyer acknowledges the premises are unimproved and
agrees to take premises in 'as-is' condition.
5. TITLE INSURANCE: Buyer to obtain title insurance at the Buyer's expense.
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6. TRANSFER TAX: Buyer shall be responsible for and pay the transfer tax
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required to be paid upon recording of the deed to transfer.
7. RECORDING FEE: Buyer shall bear the expense of recording the deed.
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8. POSSESSION: Buyer shall have possession of said premises from and after
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closing.
9. CLOSING DATE: The closing date shall be on or about June 1, 2005.
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DUPLICATE ORIGINAL
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Dated this 1st day of June , 2005.
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ABERDEEN DEVELOPMENT APA ENTERPRISES, INC.
CORPORATION
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇ By: /s/ ▇▇▇▇ ▇▇▇▇
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▇▇▇▇▇ ▇▇▇▇▇ Dr. ▇▇▇▇ ▇▇▇▇
Its: President Its: President
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BUYER SELLER
WITNESS: WITNESS:
/s/ ▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇ /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
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▇▇▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇
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DUPLICATE ORIGINAL
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