Independent School District #656 and Northern States Power Company Purchase Agreement
School District Sells 5.055-Acre Parcel to NSP
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Description
Independent School District #656 entered into a Purchase and Sale Agreement to sell a 5.055‑acre property in Faribault, Minnesota to Northern States Power Company for $1,050,000. The agreement includes a $100,000 earnest money deposit, detailed title and inspection contingencies, and closing once all conditions and approvals are satisfied.
Contract Details
Contract Amount
$1,050,000
Vendor
NORTHERN STATES POWER COMPANY
Agency
Faribault Public School District, MN
Contract Type
FACILITIES
Document Date
April 18, 2026
Contract Term
Single real estate transaction; Closing to occur 30 days after the later of Inspection Period expiration or satisfaction of all contingencies
Renewal Info
One-time real estate sale; no renewal or extension terms are provided in the agreement. Agreement may be terminated under specified inspection, title, platting, approval, condemnation, or default conditions, with specified treatment of the earnest money deposit.
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