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2021-124
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2021-124
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Last modified
11/29/2021 3:43:30 PM
Creation date
9/7/2021 2:22:10 PM
Metadata
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
08/17/2021
Control Number
2021-124
Agenda Item Number
12.E.1.
Entity Name
TIGR Acquisitions III, LLC
(with consulting from SteepSteel LLC)
Subject
Purchase and Sale Agreement for 810 Bailey Road Tower
supporting doscuments added 11_29_21; signed by county admin
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10. Closing; Documents. At Closing, Seller shall execute and deliver to Purchaser such normal <br />transaction documents as may reasonably be required by the Purchaser or its title insurance company, each in <br />a form reasonably acceptable to Seller, including without limitation the following (collectively, the "Closing <br />Documents"): <br />(a) a certificate stating that the Seller is not a "foreign person" as defined by the Federal Foreign <br />Investment in Real Property Tax Act; <br />(b) meeting minutes of the governing body of Seller demonstrating authorization for the execution, <br />delivery and performance of this Agreement, the transfer of title to the Tower Assets and the other <br />collateral documents by Seller; <br />(c) a Bill of Sale transferring title to the Tower; <br />(d) an Assignment and Assumption of Tenant Leases; <br />(e) the Easement duly executed and acknowledged; <br />(h) any reasonable and customary affidavits required by, and satisfactory to, the title company in <br />order that an owner's title insurance policy with respect to the Easement may be issued free and clear <br />of the standard exceptions which a title company is permitted by applicable law to remove or modify <br />upon delivery of such affidavits; <br />0) a certificate signed by an executive officer of Seller certifying that (1) Seller has performed and <br />complied in all material respects with all agreements and covenants required to be performed or <br />complied with by it, as the case may be, under the Closing Documents to which it is a party at or <br />prior to the Closing, (2) each of the covenants, representations and warranties of Seller are remade <br />and restated with respect to the Tower Assets as of the Closing, and (3) each of the persons executing <br />and delivering this Agreement and Closing Documents to which it is a party on behalf of Seller has <br />or have the authority to execute, deliver and consummate this Agreement and each Closing <br />Document; and <br />(k) payoff amounts and evidence of termination to the reasonable satisfaction of Purchaser of all <br />Liens affecting the Tower Assets. <br />11. Conditions to Closina. <br />a. Conditions to Obligations of Each Party. The respective obligations of each party to <br />consummate the Purchase shall be subject to the condition at or prior to the Closing Date, which condition <br />may be waived in writing by the applicable party in whole or in part to the extent permitted by Applicable <br />Law, that no legal action shall be pending before any Authority seeking to enjoin, restrain, prohibit or make <br />illegal the consummation of the Purchase. <br />b. Conditions to Obligations of Purchaser. The obligation of Purchaser to consummate <br />the Purchase shall be subject to the satisfaction of the following conditions, any or all of which may be <br />waived in writing, in whole or in part, by Purchaser to the extent permitted by Applicable Law: <br />i. (A) the representations and warranties of Seller contained herein shall be <br />true and correct in all material respects (except for representations and warranties that are qualified as to <br />materiality, which shall be true and correct); <br />-7- <br />
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