My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
AG 2010 09 20
CabarrusCountyDocuments
>
Public Meetings
>
Agendas
>
BOC
>
2010
>
AG 2010 09 20
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/15/2011 8:25:30 AM
Creation date
11/27/2017 11:23:20 AM
Metadata
Fields
Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/20/2010
Board
Board of Commissioners
Meeting Type
Regular
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
398
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
3. Exercise At any time during the Term, COUNTY may exercise the Option by <br />delivering written notice to Seller. In the event that the Option is not exercised, the Option Fee will be <br />retained by Seller except as specifically set forth below. <br />4. Contract Upon Exercise Upon exercise, this Agreement shall become an agreement of <br />purchase and sale, on the terms and conditions set forth in this Agreement. <br />5. Purchase Price The purchase price for the Property shall be the product obtained by <br />multiplying the "Net Acreage" of the Property, as detennined by the survey obtained by COUNTY under <br />Paragraph 13, by Two Thousand eight hundred thirty -eight and 71/100 Dollars ($2,838.71) per acre, <br />subject to change pursuant to the appraisal requirements in Section 7 below. The Option Fee shall be <br />applied in reduction of the Purchase Price at Closing. The remainder of the Purchase Price shall be paid <br />at Closing by wire transfer or immediately available federal finds. <br />6. Due Diligence Items Seller shall deliver to COUNTY, within ten ( 10) business days after <br />the Effective Date, true copies of any of the following due diligence items that are in Seller's possession <br />or control: <br />(a) Seller's existing title insurance policy or title commitment for the <br />Property (or for a larger parcel that includes the Property), together with copies of all <br />recorded instruments listed as exceptions to title. <br />(b) Any unrecorded leases, restrictive covenants, or other agreements <br />entered into by Seller and relating to the Property. <br />(c) Any existing surveys or recorded plats in Seller's possession, and <br />relating to the Property. <br />(d) Any geotechnical reports or environmental site assessments relating to <br />the Property. <br />(e) Any site plans or civil engineering drawings previously prepared by or <br />on behalf of Seller, and relating to the Property. <br />(f) Any materials submitted by Seller to applicable governmental authorities <br />in connection with the rezoning of the Property, or in connection with Seller's application <br />for any approvals or permits relating to the Property. <br />7. Appraisal COUNTY, at its sole cost and expense, shall obtain an appraisal of the <br />Property from a licensed appraiser (the "Appraisal "). COUNTY shall make reasonable efforts to cause <br />the final Appraisal to be delivered within sixty (60) days after the Effective Date. If the fair market value <br />of the Property, as determined by the Appraisal, is not equal to or greater than two times the Purchase <br />Price, then the purchase price will be reduced to one -half of the appraised value. in the event the <br />purchase price is reduced under this provision, and the resulting per acre purchase price is less than <br />$2,838.71 per acre, Seller shall have the right to terminate this Agreement by delivery of written notice to <br />COUNTY, and upon such termination the Option Fee shall be returned to COUNTY. <br />8. Closin . The closing ( "Closing ") of this transaction shall occur at 10:00 a.m. in the <br />offices of COUNTY's attorney in Charlotte, North Carolina, or at such other location as the parties may <br />mutually agree, on a date (the "Closing Date ") specified by COUNTY in its notice of exercise of the <br />Option, not less than ten (10) days nor longer than thirty ( 30) days after the date of that notice. The <br />A0yd4nM number 1 <br />F -13 <br />
The URL can be used to link to this page
Your browser does not support the video tag.