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AG 2000 03 20
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AG 2000 03 20
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Last modified
3/25/2002 4:56:44 PM
Creation date
11/27/2017 11:47:01 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
3/20/2000
Board
Board of Commissioners
Meeting Type
Regular
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CONTRACT OF SALE <br /> <br /> This CONTRACT OF SALE (the "Contract") is made and entered into thisfi0th <br />day of November, between Cabarrus County Board of Education, having an address for <br />purposes of this Contract of 660 U.S. Hwy. 29 N, Concord, North Carolina (the "Seller") <br />and Benderson Property Development, Inc. having an address at 570 Delaware Avenue, <br />Buffalo, New York 14202 as to an undivided 75% interest and Stephen B. Goodman as to <br />an undivided 25 % interest. (Hereinafter "Purchaser"). <br /> <br /> WHEREAS, pursuant to the te~ms stated herein, Purchaser wishes to purchase <br />from Seller, and Seller wishes to sell to Purchaser, a 15 acre tract of real property located <br />in Cabarrus County. <br /> <br /> NOW THEREFORE, in consideration of the sum of TEN DOLLARS ($10.00) <br />and other good and valuable consideration paid by the Purchaser to the Seller, receipt of <br />which is hereby acknowledged, the Seller and Purchaser, intending to be legally bound, <br />hereby agree as follows: <br /> <br />Seller agrees to sell or otherwise convey its existing fee interest, and Purchaser <br />agrees to acquire all of Seller's right, title and interest, in and to that certain tract <br />of real property located'on Parkway Ave. and U.S. 29, Hwy. 601, containing <br />approximately 15 acres, and having tax parcel number(s) <br /> and identified more p~irticularly on the attached <br />Exhibit A (the "Property"). <br /> <br />The Property shall include all mineral rights, buildings and improvements on the <br />Property and all rights of Seller to all street~, highways, alleys, driveways, <br />easements and rights of way relating to the Property. Purchaser shall accept title <br />to the Property subject to sewer, drainage, gas distribution line and main, <br />electrical and telephone easements and other easements and rights of way of <br />record existing as of the Acceptance Date (as hereinafter defined) (the "Permitted <br />Exceptions"). Notwithstanding the foregoing, this Contract is contingent upon <br />Purchaser's approval of the legal description for the Property. and all <br />encumbrances affecting the Property within twenty (20) days after receipt of the <br />Commitment and the Survey (as both hereinafter defined) relatirlg2:.9 the Property. <br /> <br />The purchase price for the Property shall be ~ (the ' Pu' '"' rchase Price"), <br />based on $-80;9007~ per usable acre. The Purchase Price shall be adjusted based <br />upon the correct acreage as identified by the survey referred to in Paragraph 3 <br />herein. The Purchase Price is to be paid as follows: <br /> <br />Purchaser's check in the amount of $25,000.00 (the "Deposit") shall be <br />deposited in escrow with Ticor Title Guaranty (the "Escrow Agent"), <br />within ten (10) days of Purchaser's receipt of a fully executed copy of this <br />Contract and an executed W-9 form from Seller. The Deposit shall be <br /> <br /> <br />
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