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AG 2018 05 21
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AG 2018 05 21
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Last modified
5/8/2019 4:07:59 PM
Creation date
5/1/2019 6:14:37 PM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
5/21/2018
Board
Board of Commissioners
Meeting Type
Regular
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Addendum to Agreement and Sale of Real Property <br />Between Primax Properties, LLC (Buyer), and <br />Cabarrus County (Seller) <br />Section 1.(e) "Examination Period" shall mean the period beginning on thefirst day afterthe <br />Contract Date and extending through 5:00pm two hundred and forty (240) days after the Contract Date. <br />Provided that the Buyer is making a good faith effort to obtain the necessary Zoning, Site Plan and other <br />Permits and approvals from the appropriate governmental agencies, Buyer may extend the Examination <br />Period for up to two (2) —two (60) day periods ("Extension Periods"). Buyer shall, within five (5) <br />business days of the Contract Date, 1) engage Buyer's Surveyor to prepare the Topographical Survey, 2) <br />engage Buyer's Environmental Consultants to conduct the necessary environmental evaluations; and, 3) <br />engage Buyers Engineers to commence preparing the necessary Plans and Documentation for submittal <br />to the appropriate governmental agencies fnr review and approval of the aforementioned Zoning, Site <br />Plan, and other Permits. Should Buyer elect to exercise any Extension Period, Buyer shall notify Seller in <br />writing priorto the expiration of the Examination Period, or Extension Period then in effect. The <br />Extension Periods, when exercised, shall be Incorporated in and included as a part of the Examination <br />Period. Consideration for the Extension Periods shall be $10,000.00 each. Upon this notification, the <br />Earnest Money theretofore deposited, including the Consideration for the Extension Period then in <br />effect, shall become non-refundable, except in the event of a Seller default. Such Consideration and <br />payments shall be deemed additional Earnest Money for all purposes hereunder and shall be applicable <br />to the Purchase Price at Closing. <br />WS <br />Attachment number 1 \n <br />G-3 Page 143 <br />
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