Orange County NC Website
Browse       Search
5. Paragraph 2.03 of the Agreement is deleted in its entirety and replaced with the <br />following: <br />2.03 The Purchase Price shall be credited by One Hundred Twenty-three <br />Thousand Nine Hundred Ninety-Seven and No/100 Dollars ($123,997.00), the cost of all <br />design professionals whose contract(s) are assigned to Purchaser pursuant to N.C. Gen. <br />Stat. Section 143-64.31 less any amount of such budgeted cost Seller has paid such <br />design professionals as shown on the attached EXHIBIT C. <br />6. Paragraph 5.04 of the Agreement is deleted in its entirety and replaced with the <br />following: <br />5.04 As a further condition precedent to Purchaser's obligation to close the <br />purchase of the Property, Seller and Purchaser shall have made and entered into a written <br />lease agreement pursuant to which Seller shall lease to Purchaser, upon terms and <br />conditions mutually satisfactory to Seller and Purchaser, the exclusive use of the <br />Allocated Parking Spaces. As used herein, "Allocated Parking Spaces" shall mean two <br />hundred (200) parking spaces in the parking deck constructed by Seller on a tract of land <br />lying south of the Property and north of N & K Street which shall be allocated for the <br />exclusive use of the owner of the Building and such owner's tenants, employees, <br />customers, guests, licensees and invitees. Allocated Parking Spaces was determined by <br />subtracting from two hundred forty-three (243) the number of parking spaces which shall <br />have been licensed by Seller to Purchaser or otherwise made available or reserved for the <br />exclusive use of Purchaser within .the project complex (including .the Real Property, the <br />parking deck, the proposed Orange County office building tract and the Gateway Center <br />Building tract). Seller. and Purchase acknowledge that it is their intent that a total of two <br />3 <br />