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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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I2. <br /> <br />13. <br /> <br />14. <br /> <br />15. <br /> <br />16. <br /> <br />17. <br /> <br />Seller, the amount thereof being liquidated damages, it being understood that <br />Seller's actual damages in the event of such default are difficult to ascertain and <br />that the Deposit represents the parties' best current estimate of such damage. <br />Seller shall have no other remedy for any default by Purchas,,er. In the event Seller <br />defaults in its obligation to close the sale of the Property and the Purchaser is not <br />in default, Purchaser shall have the right to specific performance or a return of the <br />Deposit, plus accrued interest thereon. <br /> <br />If any portion(s) of the Property is condemned or under condemnation pursuant to <br />notice of taking by appropriate authority prior to Closing, Purchaser shall have the <br />right to elect, at its sole option, to either (a) purchase the remainder of the <br />Property not condemned or under condemnation, or (b) terminate this Agreement. <br />If Purchaser elects to purchase the remainder of the Property, Purchaser shall pay <br />the price per acre provided in this Agreement for the remaining acreage of the <br />Property. Notwithstanding anything contained herein to the contrary, if the <br />Purchaser temfinates this Agreement due to condemnation, Purchaser shali be <br />entitled to a prompt refund of the ~ffill~Payments. <br /> <br />Purchaser shall pay broker fees to Jeff C. Carpenter & Company that represented <br />the Seller in this transaction. The parties hereto represent and warrant to each <br />other that (a) no other real estate brokers were involved in this transaction and (b) <br />each party shall indemnify and hold the other harmless from all other claims for <br />broker corranissions of this transaction. <br /> <br />Purchaser shall have the right to freely assign this Contract at or prior to Closing <br />to any entity or trust owned or controlled by Nathan Benderson or Stephen B. <br />Goodman or any of their lineal descendants. <br /> <br />Purchaser and Seller hereby represent and warrant to each other that they have the <br />power and authority to enter into this Agreement and to perform their respective <br />obligations under this Agreement. <br /> <br />Exchange. Purchaser hereunder desires to exchange other property of like <br />kind and qualifying use within the meaning of Section 1031 of the .Internal <br />Revenue Code of 1986, as amended and the Regulations promulgated thereunder, <br />for fee title in the Premises which is the subject of this Agreement. Purchaser <br />expressly reserves the right to assign its rights, but not its obligations, hereunder <br />to a Qualified Intermediary as provided in IRC Reg. 1.1031 (k)-I (g)(4) at any <br />time on or before the Closing Date. Seller shall cooperate with Purchaser (at no <br />cost to Seller) in effectuating any such exchange. <br /> <br />This Agreement contains the entire agreement between Seller and Purchaser and <br />nothing is binding on either of them which is not contained in this agreement. <br />This Agreement may be executed by the parties hereto in counterparts and by <br />facsimile transmission, each of which shall be deemed to constitute an original <br />and all of which shall constitute one and the same instrument. <br /> <br /> <br />
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