Agenda - 01-15-2008-4y2 - Laserfiche WebLink

Browse Search

Purchaser acknowledge that it is their intent that a total of two hundred forty-six (246) parking spaces shall be allocated to Purchaser within the project complex for Purchaser's use of the Building, Units 200 and 3Q0 in the Gateway Center Building and the proposed Orange County office building. Only to the extend that such parking spaces cannot be accommodated within the project complex and outside the parking deck, shall parking spaces be allocated to Purchaser within the parking deck. 5.05 As a further condition precedent to Purchaser's obligation to close the purchase of the Property, Purchaser must have received underFVritin.~ approval and North Carolina Local Government Commission (LGC) approval of installment purchase financing totaling at least $25,OOQ,040 to enable Purchaser to purchase the Property, and other property making up the Orange County Office and Library Complex. The under<vritin~ and LGC approved financing must be in compliance with Purchaser's policies of 15°~0 of Purchaser's General Fund Budget debt service payments and 7°.~o annual growth of Purchaser's General Fund Budget. SECTION b. Construction of the Building. 6.01 Subject to the terms, covenants and conditions set faith in this Agreement, Seller shall construct, ar cause to be canstiuctect, a hyo story commercial building upon the Real Property containing approximately 23,454 square feet (building footprint), the purpose of which building shall be to serve as a public library (the "Building"}. The shell of the Building and the exterior improvements to the Real Property shall be constructed and completed substantially in accordance with the Construction Agreement and the Contract Documents referenced therein. __~.__._~ ___ _ ~__ __rr-- -__..__ ___._ _.___i.___, .._ ___ ~__._ ___ ___~_ ._ri._ ., ..___, .,_..__ cc _._____w, _ ..__.., » w__...___., .__ ___ ___...,. ____ ? o > ~ ~ ~ cc » b , , 7 GG 11 CG 71 • 6.02 At any time from and after the Date of Agreement and until the Closing, Purchaser may enter upon the Real Property and perform, at the sole cost and expense of Purchaser (but not in a manner which shall unreasonably disrupt or delay construction of the Building or the Interior Upfit), such analysis, review, tests or inspections of the Real Property, including construction of the Building and the Interior Upfit, or any other aspect of the Real Properhf as may be pertinent and material to Purchaser in its sole and absolute discretion. " ~ ~~'-~~~' ~~~"~-• ~-.,,a:~:,.,.t~~~-te +~ ~••'4 -6-