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AG 2018 04 16
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AG 2018 04 16
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Last modified
5/8/2019 3:32:42 PM
Creation date
5/1/2019 4:58:43 PM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
4/16/2018
Board
Board of Commissioners
Meeting Type
Regular
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STATE OF NORTH CAROLINA <br />AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY <br />COUNTY OF CABARRUS <br />THIS AGREEMENT ("Agreement"), is by and between Primax Properties, LLC <br />1100 East Morehead Street, Charlotte, NC 28204 <br />a(n) limited liability company ("Buyer'), and <br />(individual or type of entity) <br />CABARRUS COUNTY, a body politic and political subdivision of the State of North Carolina ("Seller"). <br />FOR AND IN CONSIDERATON OF THE MUTUAL PROMISES SET FORTH AND OTHER GOOD AND VALUABLE <br />CONSIDERATON, THE RECEIPT AND SUFFICIENCY OF WHICH ARE ACKNOWLEDGED, THE PARTIES AGREE AS <br />FOLLOWS: <br />Section 1. Terms and Definitions: The terms listed below shall have the respective meaning given them <br />as set forth adjacent to each term. <br />(a) "Proper-W';(Address) an approximate 20.7 acre portion of the Mount <br />Pleasant Middle School property, 8325 NC Hwy 49 N in Cabarrus <br />County, consisting of20"7+/acres. The PINls 5670187033 and the prior deed reference is <br />Book 9544 Page 34 of the Cabarrus Public Registry. The legal description or other <br />information about the Property is attached as Exhibit A and incorporated by reference. <br />5250,000.00 (b)"Purchase Price" shall mean the sum of Two Hundred Fifty Thousand <br />Dollars, <br />payable on the following terms: <br />5 12, 500.00 (1) "Earnest Mon shall mean a deposit of 5.0% of the Purchase Price, <br />which deposit is payable to the Cabarrus County Clerk to the Board <br />upon Buyers execution of this Agreement. The Clerk is not an escrow <br />agent for purposes of this Agreement. Her duties relative to this <br />Agreement are defined by North Carolina law. <br />5 237,500.00 (ii) Cash balance of Purchase Price at Closing in the amount of <br />(c) "Closing" shall mean the date of completion of the process detailed in Section 9 of this <br />Agreement. Closing shall occur on or before '* . TIME IS OF THE ESSENCE AS <br />TO THE CLOSING DATE. •: no more than 360 days after the Contract Date <br />(d) "Contract Date' means the date this Agreement has been fully executed by both Buyer and <br />Seller. <br />Page 1 of 6 <br />Buyer Initials, Seller Initials__ <br />Attachment number 1 \n <br />G-4 Page 101 <br />
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