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2021-041
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2021-041
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Last modified
5/27/2021 10:39:03 AM
Creation date
3/18/2021 1:08:38 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Miscellaneous
Approved Date
03/16/2021
Control Number
2021-041
Agenda Item Number
12.E.1.
Entity Name
TIGR Acquisitions II, LLC
Subject
Letter of Intent for possible purchase
Area
810 Bailey Road Tower
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T O W E R P O I N T <br />7. Entry and Testing Agreement. After the full execution and delivery of this LOI, Buyer will provide <br />Seller an entry and testing agreement permitting Buyer to enter upon the Site to perform due <br />diligence. Seller will sign or provide comments to such agreement within three business days and <br />that testing to be limited to no disruption of tower assets integrity. <br />8. Expenses of Transaction. Each party will be responsible for its own expenses, Seller will pay any <br />transfer taxes, and any recordingfees. Buyer agrees to pay all escrow and closing costs. <br />9. Authority of Seller. Seller represents and warrants to Buyer that Seller's negotiations, execution, <br />delivery and performance of this LOI or a Purchase Agreement substantially as described above <br />will not violate, conflict with, or result in the breach of the terms of, any agreement by which <br />Seller or any part of the Assets is bound. <br />10. Operation in Ordinary Course. Seller will operate the Assets in the usual and ordinary course and <br />in conformity in all material respects with all applicable laws, ordinances, regulations, rules, or <br />orders, and will use its best efforts to preserve both the continued operation of the Assets and <br />Seller's relationships with its customers, suppliers, and others having business relations with Seller <br />related to the Assets. <br />11. Exclusive Negotiations. In consideration of anticipated expenses to be incurred by Buyer in <br />pursuing its acquisition of the Assets, Seller agrees that after signing this LOI, Seller, its employees, <br />agents and representatives will neither discuss nor negotiate, directly or indirectly, with any other <br />possible buyer, nor entertain nor consider any inquiries or proposals relating to the possible <br />disposition of the Assets or of any part of the Assets for a period of 30 days from the date of the <br />last signature hereof ("Exclusivity Period"). During the Exclusivity Period, you agree to promptly <br />notify Buyer if any person, company or group seeks to initiate any discussions regarding the <br />Assets. <br />12. Nonbinding Agreement. The parties acknowledge that, except as expressly set forth in this LOI, <br />this LOI is non-binding and'the various terms to be included in the Purchase Agreement remain to <br />be negotiated. While the Parties agree in principle to the content of this LOI and propose to <br />1170 Peachtree St NE, Suite 1650, Atlanta, GA 30309 1 towerpoint.com I Ph: 678.775.0360 1 F: 678.775.0361 <br />
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