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Agenda - 04-15-2025; 6-b - Purchase of Property for the Crisis Diversion Facility
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Agenda - 04-15-2025; 6-b - Purchase of Property for the Crisis Diversion Facility
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4/10/2025 3:37:08 PM
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4/10/2025 3:11:23 PM
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BOCC
Date
4/15/2025
Meeting Type
Business
Document Type
Agenda
Agenda Item
6-b
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20 <br /> 11.13 1031 Exchange. Either party hereto may structure this transaction as a like kind exchange <br /> pursuant to Section 1031 of the Internal Revenue Code. If a party elects to structure this transaction as a <br /> like kind exchange pursuant to Section 1031, the other party shall cooperate in effecting such exchange. <br /> The 1031 party will make all necessary arrangements for the exchange, pay all costs associated with the <br /> exchange and bear all other expenses and risks necessary to accomplish the exchange. The 1031 party's <br /> exchange shall be accomplished through a qualified intermediary,Escrow Agent,exchange agent or similar <br /> third party. The 1031 party's structuring the acquisition of the Property as an exchange shall not extend or <br /> delay the Closing of the Property. <br /> 11.14 Sovereign Immunity.Notwithstanding any other term or provision in the Contract, <br /> nothing herein is intended nor shall be interpreted as waiving any claim or defense based on the principle <br /> of sovereign immunity or other State or federal constitutional provision or principle that otherwise would <br /> be available to the Buyer under Applicable Law. <br /> [SIGNATURE PAGE FOLLOWS] <br /> 15 <br />
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