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2000-266H
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Last modified
7/18/2024 3:41:42 PM
Creation date
7/18/2024 3:15:25 PM
Metadata
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
09/07/2000
Control Number
2000-266H
Agenda Item Number
10.B.7.
Entity Name
Los Angeles Dodgers, Inc.
Subject
Application for Certification of retained Spring Training Franchise to
Florida Office of Tourism, Trade & Economic Development
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• <br />i <br />determine compliance therewith. Such an assessment shall, if applicable, provide an estimate of all <br />costs expected in connection with ADA compliance, and be certified to purchaser by October 30, <br />2000, but in any case by not later than December 31, 2000. In the event the Seller has not delivered <br />to the Purchaser the compliance report by December 31, 2000, the Purchaser, at its sole option, shall <br />have the right to (i) obtain its own compliance report at the sole costs of the Seller (which cost the <br />Seller hereby agrees to pay upon demand by the Purchaser) or (ii) terminate this Agreement, <br />thereupon releasing Purchaser and Seller from all further obligations under this Agreement. <br />1 Seller shall be obligated to undertake the compliance steps set forth in the site assessment, <br />provided, however, that in the event the site assessment provided for in this Section reveals that there <br />will be costs associated with ADA compliance, and such costs exceed $ 100,000, then the Seller shall <br />have 30 days from the date the site assessment is certified to or obtained by the Purchaser to <br />terminate this Agreement, thereupon releasing Seller and Purchaser from all future obligations <br />hereunder. In the event Seller elects not to terminate this Agreement and undertakes such compliance <br />steps, Seller and Purchaser agree that the costs associated with such ADA compliance may be <br />q reimbursed to the Seller as part of the costs of the Improvements to be set forth in that certain <br />' Development Agreement dated as of September 1, 2000 (the "Development Agreement") between <br />l Seller and Purchaser. <br />I <br />SECTION 9. iHT R '5T C NIVEYED. At closing, Seller shall deliver <br />to Purchaser a statutory warranty deed in accordance with Section 689.02, Florida Statutes, <br />I conveying marketable title to the Property in fee simple free and clear of all liens, reservations, <br />restrictions, easements, leases, tenancies and other encumbrances, except for those that are Permitted <br />Exceptions as described above. <br />L <br />The interest conveyed shall be expressly subject to and provide that if the Purchaser elects to <br />sell the Property at any time during the "Term" of the Lease Agreement, the Seller shall have a first <br />right of refusal to purchase the Property and all improvements located thereon for the lowest <br />purchase price which the County would accept from a third party. The statutory warranty deed shall <br />also reserve to and grant (lie Seller an option to repurchase the Property, at its then fair market value <br />' (such fair market value to be determined in the manner described in Section 10.07 of the Lease <br />Agreement), at any time after the Bonds to be issued by the Purchaser have been retired, provided <br />that the Seller is still the lessee under the Lease Agreement at the time of such repurchase. <br />�I <br />L <br />L <br />L <br />SECTION 10. Seller and. <br />Purchaser shall execute the deed described in Section 9 of this Agreement, necessary closing <br />statements and the title, possession and lien affidavit certified to Purchaser and title insurer in <br />accordance with Section 627.7842, Florida Statutes, and any other instruments reasonably required <br />to close. Whenever practicable all prepared documents shall be submitted to Seller and Purchaser <br />for review and approval at least 30 days prior to the closing. <br />4 <br />
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