AG 2001 06 18 - Laserfiche WebLink

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STATE OF NORTH CAROLINA COUNTY OF CABARRUS OFFF~ TO PURCHASE AND CONTI~CT ~TI~S OFFER TO PURCHASE AND CONTRACT ("Contract") is made and entered into this ~t/'2 day of Sune, 2001 by and between the CABARRUS BOARD OF EDUCATION ("Seller") and the TOWN OF HARRISBURG ("Buyer"). 1. Property.. Seller agrees to sell to the Buyer and the Buyer agrees to purchase from the seller in fee simple a portion of the property lying in Cabarrus County, North Carolina, containing 0.50 acres of land, more or less, as more particularly shown in Exhibit A attached. Buyer shall have. the property surveyed by a licensed professional land surveyor at its expense. The property shown in Exhibit A sbal! be known in this document as the "Property". As partial consideration fOr this trarisactio, n, the Seller shall.dedicate and the Buyer shall accept the dedication of and maintain the drainage channel that currently exists between the Harrisburg Elementary School arid Stallings Fa~ni subdivision. 2. Purchase Price and Deposit. The purchase price to be paid to the Seller by the Buyer for the Property shall be One Dollar ($I.00), to be paid in cash at closing. 3. Buyer's Right of Ent~ and Inspection. During the term of this Contract the Buyer, its agents, employees, contractors, engineers and designees shall have the right bom time to time to enter upon the Property at their risk for the purpose of inspecting the same and conducting surveys, engineering studies, environmental studies, borings, soil tests, investigations, feasibility studies and the like. To the extent that it is practical to do so, all such entries shall be made in such a manner as to minimize interference with Seller's present use and occupancy of the Property. Within a reasonable time after such entries, Buyer shall to the extent practicable, restore the Property to its prior condition. The Buyer agrees to indemnify and save the Seller harmless bom all claims arising by reason of such entries, studies and investigations. Seller's Participation. Prior to settlement, the Seller at the Buyer's expense shall promptly join in the execution of such plats and other documents, and participate in such administrative or judicial proceedings, as are in the reasonable exercise of the Buyer's judgment required for the consummation of this Contract. 5. .Closing. Closing and settlement shall be held the next business day after waiver of'the right of first refusal by the Cabarms County Board ofConunissioners, as provided in Paragraph 12, below. Upon payment of the purchase money as above provided, the Seller shall, at Buyer's expense, execute and deliver to the Buyer a general warranty deed for the Property which shall convey the Propen'y to the Buyer. The title so conveyed shall be a fee simple, marketable and insurable title, both of record and in fact, free of all liens and encumbrances except those appearing as a matter of public record. Title shall be such as will be insurable both as to fee and marketability by a licensed title insurance company at its standard rates. 6. Documentary Stamps, Transfer Taxes and Closing Expenses. All Seller's