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2007-074
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2007-074
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Last modified
5/5/2016 12:46:10 PM
Creation date
9/30/2015 10:37:28 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
02/20/2007
Control Number
2007-074
Agenda Item Number
11.I.1
Entity Name
Capital Trust Company of Delaware Trustee of Irvin Basil Keller
Individual Retirement Trust u/a/d October 4, 2003
Subject
Purchase Agreement parcels 104 & 105
Area
74th St.
Supplemental fields
SmeadsoftID
6192
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owner of and has good right, title, and authority to convey and transferthe Property which is the <br /> subject matter of this Agreement, free and clear of all liens and encumbrances . <br /> 4. 2 From and after the Effective Date of this Agreement, Seller shall take no action which <br /> would impair or otherwise affect title to any portion of the Property, and shall record no <br /> documents in the Public Records which would affect title to the Property , without the prior written <br /> consent of the County. <br /> 4 . 3 There are no existing or pending special assessments affecting the Property, which are or <br /> may be assessed by any governmental authority, water or sewer authority, school district, <br /> drainage district or any other special taxing district. <br /> 5 . Default. <br /> 5 . 1 In the event the County shall fail to perform any of its obligations hereunder, the Seller <br /> shall , at its sole option , be entitled to : (i) terminate this Agreement by written notice delivered to <br /> the County at or prior to the Closing Date and thereupon neither the Seller nor any other person <br /> or party shall have any claim for specific performance , damages , or otherwise against the <br /> County; or (ii) waive the County's default and proceed to Closing . <br /> 5 .2 In the event the Seller shall fail to perform any of its obligations hereunder, the County <br /> shall , at its sole option , be entitled to : (i) terminate this Agreement by written notice delivered to <br /> the Seller at or prior to the Closing Date and thereupon neither the County nor any other person <br /> or party shall have any claim for specific performance , damages or otherwise against the Seller; <br /> or (ii) obtain specific performance of the terms and conditions hereof; or (iii) waive the Seller's <br /> default and proceed to Closing : <br /> 6 . Closing . <br /> 6 . 1 The closing of the transaction contemplated herein ("Closing" and "Closing Date") shall <br /> take place within 60 days following the Effective Date of this Agreement. The parties agree that <br /> the Closing shall be as follows : <br /> (a) The Seller shall execute and deliver to the County a warranty deed conveying marketable <br /> title to the Property , free and clear of all liens and encumbrances and in the condition required by <br /> paragraph 3 . <br /> (b) The Seller shall have removed all of its personal property and equipment from the <br /> Property and Seller shall deliver possession of the Property to County vacant and in the same or <br /> better condition that existed at the Effective Date hereof. <br /> (c) If Seller is obligated to discharge any encumbrances at or prior to Closing and fails to do <br /> so , County may use a portion of Purchase Price funds to satisfy the encumbrances . <br /> (d) If the Seller is a non-resident alien or foreign entity, Seller shall deliver to the County an <br /> affidavit , in a form acceptable to the County, certifying that the Seller and any interest holders <br /> are not subject to tax under the Foreign Investment and Real Property Tax Act of 1980 . <br /> CADocuments and Set ings\rwebb\Desktop\Robert Webb\so66thaveproject\74th ave 12th to 4th\Capita]Trust74thave Purchase Contractdoc - 2 - <br />
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