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2004 NS Purchasing - NORCA HOLDINGS LLC to purchase Durham Technical Community College Satellite Campus Site
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2004 NS Purchasing - NORCA HOLDINGS LLC to purchase Durham Technical Community College Satellite Campus Site
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Last modified
4/14/2011 12:06:52 PM
Creation date
2/21/2011 11:51:12 AM
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BOCC
Date
6/23/2004
Meeting Type
Regular Meeting
Document Type
Contract
Agenda Item
8a
Document Relationships
Agenda - 06-23-2004-8a
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\Board of County Commissioners\BOCC Agendas\2000's\2004\Agenda - 06-23-2004
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13 <br />iv. all other documents required by this Contract to be delivered by Seller; <br />and <br />v. such other docwnents and papers wlvch may be necessary to the <br />consummation of the transaction described in this Cmitract as may reasonably be <br />requested by Buyer or Buyer's counsel. <br />b. At Closing, Buyer shall deliver to Seller: <br />i. the Purchase Price by wire transfer to the trust account of Seller's <br />attorney; and <br />ii. such other documents and papers which may be necessary to the <br />consummation of the transaction described in this Contract as may reasonably be <br />requested by Seller or Seller's counsel. <br />19. Assignment. Tlus Contract shall not be assigned without the prior written consent <br />of the non-assigning part~+, such. consent not to be um'easonably withheld, conditioned or <br />delayed. <br />Z0. Default and Remedies. <br />a. In the event of a default or breach by Seller of any of the covenants or conditions <br />or obligations of Seller under this Contract or in the event any of Seller's representations and <br />warranties contained in this Contract are not true and correct as of the date of this Contract and <br />as of the Closing Date, Buyer shall have as its sole and exclusive remedy, the right to terminate <br />this Contract by giving written notice to Seller and the right to the return of the Earnest Money <br />deposited pursuant to Paragraph 2(a) above plus Twenty Five Thousand and No/100 Dollars <br />($25,000.00) as liquidated damages, since the parties agree that actual damages under this <br />Contract are difficult, if not impossible to estimate. <br />b. In the event of a default or breach by Buyer of any of the covenants or conditions <br />or obligations of Buyer under this Contract or in the event any of Buyer's representations and <br />warranties contained in this Contract are not true and correct as of the date of this Contract and <br />as of the Closing Date, Seller shall have as its sole and exclusive remedy, the right to terminate <br />this Contract by giving written notice to Buyer and the right to receive payment of the Earnest <br />Money deposited pursuant to Paragraph 2(a) above plus Twenty Five Thousand and No1100 <br />Dollars ($25,000.00) as liquidated damages, since the parties agree that actual damages under <br />this Contract are difficult, if not impossible to estimate. <br />21. Entry. Buyer shall have the right to enter upon the Property at any time after the <br />date of this Contract for purposes of site planning, surveying and environmental inspections. <br />Such entry right shall be exercised so as to not um'easonably interrupt any activities of Seller. <br />22. Miscellaneous. <br />a. Sun+ival of Provisions. All representations contained in Paragraphs 7 and 17(c) <br />above shall survive the Closing and the delivery of the Deed and other documents. <br />11 <br />RTP 84406v7 <br />
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