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Agenda - 12-12-2006-5h
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Agenda - 12-12-2006-5h
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Last modified
9/1/2008 9:27:56 PM
Creation date
8/29/2008 9:56:15 AM
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Template:
BOCC
Date
12/12/2006
Document Type
Agenda
Agenda Item
5h
Document Relationships
2006 S ERCD - Approval of Contract to Purchase Real Property - Paydarfar Tract
(Linked From)
Path:
\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\2000's\2006
Minutes - 20061212
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Path:
\Board of County Commissioners\Minutes - Approved\2000's\2006
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5 <br />THE TERMS AND CONDITIONS OF THIS AGREEMENT .ARE AS FOLLOWS: <br />1. PURCHASE PRICE: The purchase price for the Property shall be ONE <br />HUNDRED EIGHTY SEVEN THOUSAND THREE HU]~TJDRED FIFTY AND 00/100 <br />DOLLARS ($187,350) plus any amount due Seller as the result of the calculation made in <br />Section 4(c) below for ad valorem taxes on the Property for the calendar year in which the <br />Closing occurs. The purchase price shall be paid by payment in cash at the closing. <br />2. TITLE: Title will be delivered to Buyer at closing by a General Warranty Deed <br />from Seller, made to Orange County, North~Carolina; which shall be fee simple marketable title, <br />free of liens, encumbrances, easements, restrictions, rights and conditions, including, but not <br />limited to, any promissory note, mortgage, deed of trust, real estate contract, right of first refusal, <br />or option to buy, other than current property taxes and rights, reservations, covenants, easements, <br />conditions, and restrictions of record as of the effective date of this Agreement that do not <br />materially affect the value of the Property or unduly interfere with Buyer's intended use of the <br />Property, which exceptions must be approved in writing by Buyer ("Permitted Exceptions"). <br />The deed conveying the Property shall be on a North Carolina Bar form General Warranty Deed. <br />The Property description in the deed shall conform to the survey of the Property to be prepared <br />as prescribed in paragraph 4(a) of this Agreement. <br />3. EVIDENCE OF TITLE. Buyer will have title to the Property examined, and if <br />applicable, obtain a preliminary title insurance corrunitment on the Property. The title <br />examination and/or commitment must evidence Seller's ability to deliver title at Closing as set <br />forth above. All costs necessary to procure the title examination and, if applicable, the title <br />commitment and fmal title insurance policy to be issued at Closing, shall be the responsibility of <br />Buyer. <br />5 <br />
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