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Agenda 04-02-2019 6-b - Approval to Acquire Property at 509 Central Avenue, Hillsborough
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Agenda 04-02-2019 6-b - Approval to Acquire Property at 509 Central Avenue, Hillsborough
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3/29/2019 9:10:43 AM
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BOCC
Date
4/2/2019
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
6-b
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Minutes 04-02-2019 Regular Meeting
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RES-2019-020 Resolution authorizing the acquisition of Property at 509 Central Avenue, Hillsborough
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Path:
\Board of County Commissioners\Resolutions\2010-2019\2019
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�� 8 <br /> ��1 OFFER TO PURCHASE AND CONTRACT <br /> [Consult"Guidelines"(Form 2G)for guidance in completing this form] <br /> For valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, Buyer offers to purchase and Seller <br /> upon acceptance agrees to sell and convey the Property on the terms and conditions of this Offer To Purchase and Contract and any <br /> addendum or modification made in accordance with its terms(together the"Contract"). <br /> 1. TERMS AND DEFINITIONS: The terms listed below shall have the respective meaning given them as set forth adjacent to each <br /> term. <br /> (a)"Seller": <br /> (b)"Buyer": <br /> (c)"Property": The Property shall include all that real estate described below together with all appurtenances thereto including the <br /> improvements located thereon and the fixtures and personal property listed in Paragraphs 2 and 3 below. <br /> NOTE: If the Property will include a manufactured (mobile) home(s), Buyer and Seller should consider including the <br /> Manufactured(Mobile)Home provision in the Additional Provisions Addendum(Standard Form 2A11-T)with this offer. <br /> Street Address: <br /> City: Zip: <br /> County: ,North Carolina <br /> I <br /> NOTE: Governmental authority over taxes,zoning,school districts,utilities and mail delivery may differ from address shown. <br /> Legal Description: (Complete ALL applicable) <br /> Plat Reference: Lot/Unit ,Block/Section ,Subdivision/Condominium <br /> ,as shown on Plat Book/Slide at Page(s) <br /> The PIN/PID or other identification number of the Property is <br /> Other description: <br /> Some or all of the Property may be described in Deed Book at Page <br /> (d)"Purchase Price": <br /> $ paid in U.S.Dollars upon the following terms: <br /> $ BY DUE DILIGENCE FEE made payable and delivered to Seller by the Effective <br /> Date <br /> $ BY INITIAL EARNEST MONEY DEPOSIT made payable and delivered to Escrow <br /> Agent named in Paragraph l(f)by ❑cash ❑personal check ❑official bank check <br /> ❑ wire transfer, ❑ electronic transfer,EITHER❑ with this offer OR❑ within five <br /> (5)days of the Effective Date of this Contract. <br /> $ BY(ADDITIONAL)EARNEST MONEY DEPOSIT made payable and delivered to <br /> Escrow Agent named in Paragraph 1(f)by cash, official bank check,wire transfer or <br /> electronic transfer no later than 5 p.m. on , <br /> TIME BEING OF THE ESSENCE. , <br /> $ BY ASSUMPTION of the unpaid principal balance and all obligations of Seller on <br /> the existing loan(s)secured by a deed of trust on the Property in accordance with the <br /> attached Loan Assumption Addendum(Standard Form 2A6-T). <br /> $ BY SELLER FINANCING in accordance with the attached Seller Financing <br /> Addendum(Standard Form 2A5-T). <br /> $ BY BUILDING DEPOSIT in accordance with the attached New Construction <br /> Addendum(Standard Form 2A3-T). <br /> $ BALANCE of the Purchase Price in cash at Settlement(some or all of which may be <br /> paid with the proceeds of a new loan) i <br /> Should Buyer fail to deliver either the Due Diligence Fee or any Initial Earnest Money Deposit by their due dates, or should any <br /> check or other funds paid by Buyer be dishonored,for any reason,by the institution upon which the payment is drawn,Buyer shall <br /> Page I of 16 <br /> This form jointly approved by: STANDARD FORM 2-T <br /> North Carolina Bar Association Revised 7/2018 <br /> North Carolina Association of REALTORS®,Inc. 1121 07/2018 <br /> ROWLL NOUN 0 <br /> OPPORTUNITY <br /> Buyer's initials Seller's initials <br />
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