AG 2017 09 18 - Laserfiche WebLink

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Examination Due Diligence Period is Period: Forty Five(45)Days after the Contract Date Closing: Thirty(30)days following the end of The Examination Period below or sooner. Non-Binding: This Letter of Intent is not intended to be contractual in nature and is not binding upon either party and the parties shall not be bound each to the other until the terms contained herein have been incorporated into a full executed purchase agreement.If Cabarrus County is in agreement with the terms set forth above,please sign this letter in the space provided below. As we discussed the interior of the property will require significant updating for the Buyer's needs to include but not limited to the following improvements: • Replacement of all flooring/carpeting. • Complete renovation—floor to ceiling—of all bathrooms,kitchen and common areas. • Replacement of a significant portion of the parking lot. Showing alligator degradation. • Replace of all five(5)HVAC units totaling twelve(12)tons that are each 12—15 years old and require R-22 which is being phased out completely. • Replacement of front weather doors due to rust and deterioration. • Repairs to backflow prevention devices and possible plumbing issues without water service for an extended period of time. • Bring pole signage into compliance for the city of Concord,NC with the property having been vacant for over six(6)months. There is also significant concerns regarding the closing of the bridge over I-85 and Concord Lake Road at the end of October 2017 per the attached email from the North Carolina DOT.The bridge will be closed for at least a year subject to schedule changes,which is very possible.With these considerations in mind,we feel this is a very competitive Offer to Purchase for this property.Please feel free to contact me directly with any questions. Best Regards, fe n J. ohe y n S 'th ealty Co. 2 Attachment number 1 \n G-4 Page 133