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2020-128
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Last modified
3/4/2021 2:45:31 PM
Creation date
7/20/2020 4:09:02 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
07/14/2020
Control Number
2020-128
Agenda Item Number
8.F.
Entity Name
Dawsey, Woodrow & Belinda
Subject
Agreement to Purchase and Sell Real Estate with lease agreement
Added: Copy of closng agreement and settlement and settlement
Warranty Deed; Owner's Pollicy of Title Insurance;
Area
58th Avenue Improvements
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5.2 In the event the Seller shall fail to perform any of its obligations hereunder, the <br />County shall, at its sole option, be entitled to: (i) terminate this Agreement by written notice <br />delivered to the Seller 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 the Seller; or (ii) obtain specific performance of the terms and conditions <br />hereof; or (iii) waive the Seller'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 45 days following the execution of the contract by the Chairman of <br />the Board of County Commissioners. The parties agree that the Closing shall be as <br />follows: <br />(a) The Seller 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) No later than 6 months after the closing date, the Seller shall have removed all of <br />their personal property and equipment from the Property and shall deliver possession of <br />the Property to County in the same or better condition that existed at the Effective Date <br />hereof. <br />(c) The Seller must enter into a 6 month lease agreement with the Buyer at closing. No <br />rent shall be charged for the six month term of the lease. Any extensions of the lease shall <br />be subject to a rental rate at fair market value. <br />(d) If Seller is obligated to discharge any encumbrances at or prior to Closing and fails <br />to do so, County may use a portion of Purchase Price funds to satisfy the encumbrances. <br />(e) If the Seller is a non-resident alien or foreign entity, Seller shall deliver to the County <br />an affidavit, in a form acceptable to the County, certifying that the Seller and any interest <br />holders are not subject to tax under the Foreign Investment and Real Property Tax Act of <br />1980. <br />(f) The Seller 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. <br />(a) All ad valorem taxes which are a lien on the property or on prior to the closing date <br />Shall be paid by Seller. <br />(b) All non -valorem taxes, whether not yet assessed not due and payable shall be paid <br />for by the Seller. The non -ad valorem taxes shall not be prorated, rather they shall be paid <br />in full by the seller. <br />
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