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2017-098
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2017-098
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Last modified
3/1/2018 11:03:23 AM
Creation date
7/12/2017 4:01:20 PM
Metadata
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
07/11/2017
Control Number
2017-098
Agenda Item Number
8.N.
Entity Name
Wabasso Hillside LLC
Subject
Intersection and Road Expansion Improvements Advance Acquisition
Area
County Road 510 58th Avenue
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closing. <br />5.2 In the event Hillside 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 <br />delivered to Hillside at or prior to the Closing Date and thereupon neither the County nor <br />any other person or party shall have any claim for specific performance, damages or <br />otherwise against Hillside; or (ii) obtain specific performance of the terms and conditions <br />hereof; or (iii) waive Hillside's default and proceed to Closing: <br />6. Closing. <br />6.1 The closing of the transaction contemplated herein ("Closing" and "Closing Date") <br />shall take place within 30 days following the execution of the contract by the Chairman of <br />the Board of County Commissioners. With the written consent of Hillside, the County or its <br />agent shall be responsible for obtaining any partial releases or satisfactions of <br />encumbrances on the Property. The closing date shall automatically be extended by a <br />period of 30 days if the delay in closing is attributable to obtaining partial satisfaction and <br />release of mortgage(s) encumbering the Property so long as the County is acting in good <br />faith with the holder of the encumbrance to partially release or satisfy the encumbrance. <br />The parties agree that the Closing shall be as follows: <br />(a) Hillside shall execute and deliver to the County a Warranty deed conveying <br />marketable title to the Property, free and clear of all liens and encumbrances and in the <br />condition required by paragraph 3. <br />(b) Hillside shall have removed all of its personal property and equipment from the <br />Property and Hillside shall deliver possession of the Property to County vacant and in the <br />same or better condition that existed at the Effective Date hereof. <br />(c) If Hillside is a non-resident alien or foreign entity, it shall deliver to the County an <br />affidavit, in a form acceptable to the County, certifying that Hillside and any interest holders <br />are not subject to tax under the Foreign Investment and Real Property Tax Act of 1980. <br />(d) Hillside and the County shall each deliver to the other such other documents or <br />instruments as may reasonably be required to close this transaction. <br />6.2 Taxes. All taxes and special assessments which are a lien upon the property on or <br />prior to the Closing Date (except current taxes which are not yet due and payable) shall be <br />paid by Hillside. <br />7. Closing Costs; Expenses. County or its agent shall be responsible for preparation of <br />all Closing documents. <br />7.1 County shall pay the following expenses at Closing: <br />3 <br />
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