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AG 2017 08 21
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AG 2017 08 21
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Last modified
8/24/2017 4:41:15 PM
Creation date
11/27/2017 10:29:54 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/21/2017
Board
Board of Commissioners
Meeting Type
Regular
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Examination Due Diligence Period is <br /> Period: Forty Five(45)Days after the Contract Date <br /> Closing: Thirty(30)days following the end of The Examination Period below or sooner. <br /> Non-Binding: This Letter of Intent is not intended to be contractual in nature and is not <br /> binding upon either party and the parties shall not be bound each to the other <br /> until the terms contained herein have been incorporated into a full executed <br /> purchase agreement.If Cabarrus County is in agreement with the terms set <br /> forth above,please sign this letter in the space provided below. <br /> As we discussed the interior of the property will require significant updating for the Buyer's needs to include but <br /> not limited to the following improvements: <br /> • Replacement of all flooring/carpeting. <br /> • Complete renovation—floor to ceiling—of all bathrooms,kitchen and common areas. <br /> • Replacement of a significant portion of the parking lot. Showing alligator degradation. <br /> • Replace of all five(5)HVAC units totaling twelve(12)tons that are each 12—15 years old and require <br /> R-22 which is being phased out completely. <br /> • Replacement of front weather doors due to rust and deterioration. <br /> • Repairs to backflow prevention devices and possible plumbing issues without water service for an <br /> extended period of time. <br /> • Bring pole signage into compliance for the city of Concord,NC with the property having been vacant <br /> for over six(6)months. <br /> There is also significant concerns regarding the closing of the bridge over I-85 and Concord Lake Road at the <br /> end of October 2017 per the attached email from the North Carolina DOT.The bridge will be closed for at least <br /> a year subject to schedule changes,which is very possible.With these considerations in mind,we feel this is a <br /> very competitive Offer to Purchase for this property.Please feel free to contact me directly with any questions. <br /> Best Regards, <br /> fe n J. ohe y <br /> n S 'th ealty Co. <br /> 2 <br /> E-2 Page 311 <br />
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