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48654.1 CERTIFIED COPY AGREEMENT TO PURCHASE REAL PROPERTY This Agreement To Purchase Real Property ("Agreement") is entered into this I day of 8? !Z , 2004 by and between City of Moscow, Idaho, 206 East Third Street, Moscow, Idaho, 83843, a municipal corporation of the State of Idaho, (hereinafter referred to as "GRANTOR") and Stacy W. Smisek and Tracey D. Smisek, 1002 Hirschi, Moscow, Idaho, 83843 (hereinafter referred to as "GRANTEES"). WHEREAS, property described herein was purchased originally by GRANTOR in order to construct Fire Station No. 3 upon it; and WHEREAS, Fire Station No. 3 was subsequently constructed upon other property; and WHEREAS, GRANTOR subsequently determined that it was in GRANTOR's best interest to dispose of the property described herein pursuant to Idaho State Code by sale to the highest bidder; and WHEREAS, GRANTEES were determined by GRANTOR to be tlte successful bidder by GRANTEE's submission of a bid of Fifty Thousand One Dollar ($50,001) on AprilS, 2004; and WHEREAS, GRANTEES have paid to GRANTOR Five Thousand Dollars ($5,000) consideration/earnest money in order to secure GRANTEES' interest in the property as successful bidder; and WHEREAS, GRANTOR and GRANTEES wish to enter into an agreement which will allow GRANTEES to pay tlte balance of the total purchase price to GRANTOR on or before the expiration of one year from the date of being confirmed as the successful bidder; and · WHEREAS, pursuant to Idaho Code Section 50-1404, real property may be sold by GRANTOR on a contract as. determined by GRANTOR; and WHEREAS, according to Idaho State Code, title to the property sold on contract shall be retained in the name of GRANTOR until full payment bas been made by tlte purchaser (GRANTEES); and WHEREAS, GRANTOR and GRANTEES wish to consummate sale of such real property pursuant to this Agreement; N OW , WHEREFORE, WITN E S S ETH; In consideration of the mutual covenants set forth herein, GRANTOR and GRANTEES agree as follows: 1. CONSIDERATION AND PROPERTY: In consideration of the sum of Five Thousand Dollars ($5,000) paid by GRANTEES to GRANTOR, receipt of which is bereby acknowledged by GRANTOR, GRANTOR hereby grants unto GRANTEES the right to purchase real property ("Property") sitoated in the County of Latah, State of Idaho, and more particularly described as follows: Lots 12 and 13, Block 3, Quail Run Addition to the City of Moscow as shown by the recorded plat thereof. AGREEMENT TO PuRCHASE REAL PROPERTY PAGE 1 01'4 2004-52 ---PAGE BREAK--- • CERTIFIED COPY 486541 2. PURCHASE PRICE: A. The total purchase price of the Property shall be Fifty Thousand One Dollar ($50,00 1) plus seven percent per annum interest on such total purchase price, payable as follows: I. The non-refundable amount of Five Thousand D