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Agenda - 01-15-2008-4y3
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Agenda - 01-15-2008-4y3
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8/29/2008 2:20:55 PM
Creation date
8/28/2008 9:31:41 AM
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BOCC
Date
1/15/2008
Document Type
Agenda
Agenda Item
4y3
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Minutes - 20080115 - Late
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\Board of County Commissioners\Minutes - Approved\2000's\2008
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allocated to Purchaser witlun the project complex for Purchaser's use of the Building, Units 200 and 300 in <br />the Gateway Center Building and the proposed Orange County library building. Only to the extend that such <br />parking spaces cannot be accommodated within the project complex and outside the parking deck, shall <br />parking spaces be allocated to Purchaser within the parking deck. <br />S.OS As a further condition precedent to Purchaser's obligation to close the purchase of <br />the Property, Purchaser must ha~'e received underw°ritinQ a~rn-oval and North Carolina Local Government <br />Commission (LGC) a:~rpproval of installment purchase financing totaling at least $25,000,000 to enable <br />Purchaser to purchase the Propel-ty, and other property making up the Change County Office and Library <br />Complex. The undenvritin.~ and LGC approved financing must be in compliance with Purchaser's policies of <br />1~°0 of Purchaser's General Fund Budget debt service payments and 7% annual growth of Purchaser's <br />General Fund Bud6et. <br />SECTION G. Construction of the Building. <br />6.01 Subject to the terms, covenants and conditions set forth in this Agreement, Seller <br />shall construct, or cause to be constructed, a hvo story commercial building upon the Real Property <br />containing approximately 46,716 square feet (building footprint), the purpose of which building shall be to <br />serene as an office building {the "Building"}. The shell of the Building and the exterior improvements to the <br />Real Property shall be constructed and completed substantially in accordance with the Construction <br />Agreement and the Contract Documents referenced therein. <br />...,u_..,»~ .._. .. w~ ..rr-_.,..., .. ..,....... _t..»_, .... ..., .. _... _ .,...,_w_ ..t.r_v..._.,, ~..._ <br />LL _..._. ....... .... .._.,, <br />77 ........ ..,., .._... ........ __.., <br /> b <br /> <br /> > 7 <br /> <br /> <br /> <br />7 7 <br /> LG >S <br /> <br /> , <br /> <br /> <br />, <br />1 <br />LG <br /> <br />77 , <br /> b <br /> <br /> GG f) <br /> <br /> <br /> <br />6A2 At any time from and after the Date of Agreement and until the Closing, <br />Purchaser may enter upon the Real Property and perform, at the sole cost and expense of Purchaser (but <br />not in a manner which shall unreasonably disrupt or delay construction of the Building or the Interior <br />Upfitl. such analysis, review, tests or inspections of the Real Property, including construction of the <br />Building and the Interior Upfit, or any other aspect of the Real Property as may be pertinent and material <br />-6- <br />
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