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R2018-114 Resolution Authorizing Real Estate Contract for Property Generally Located in the 200-500 Blocks of East Marietta Street, The 200-500 Blocks of East King Street, The 200-500 Blocks of East Central Avenue, The 200-500 Block of East Wabash Avenue
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R2018-114 Resolution Authorizing Real Estate Contract for Property Generally Located in the 200-500 Blocks of East Marietta Street, The 200-500 Blocks of East King Street, The 200-500 Blocks of East Central Avenue, The 200-500 Block of East Wabash Avenue
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Last modified
11/1/2018 9:40:28 AM
Creation date
9/25/2018 3:27:06 PM
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Resolution/Ordinance
Res Ord Num
R2018-114
Res Ord Title
R2018-114 Resolution Authorizing Real Estate Contract for Property Generally Located in the 200-500 Blocks of East Marietta Street, The 200-500 Blocks of East King Street, The 200-500 Blocks of East Central Avenue,
Department
Econ and Com Dev
Approved Date
9/4/2018
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closing(subject to force majeure delays)(iv)requiring that if Buyer fails to substantially camplete <br /> said Federally Qualified Health Center within five (5) years of the date of closing, awnership of <br /> the Premises shall be retwrned to the 5eller with Buyer being responsible for any and all costs <br /> associated with the transfer af ownership of the Premises back to the 8uyer including any real <br /> estate taxes unpaid and due after the date af closing prorated to the date of closing based upon the <br /> last ascertainable real estate taxes on the Premises and any costs associated with remediating any <br /> changes or improvements made to premises by Seller, its successors and assigns as deemed <br /> necessary by the Seller. Substantial Completion or Substantially Camplete means complete <br /> construction of the shell and core, with finished interiors of common areas to the point af <br /> qualification foar the issuance af certificates af occupancy pursuant to codes of the City,except for <br /> minor and ancillary alterations or additional work. The promise made to use land to house <br /> constructian of a Community Care Campus to include an all-inclusive drug misuse rehabilitation <br /> facility to the Decatur area, inpatient drug detox and treatment center, outpatient treatment center <br /> and associated uses or those uses, including but not limited to social services and residential or <br /> institutional uses,that are consistent with the national CDBG objectives as agreed to in writing by <br /> the Seller and to allow monitoring shall survive the date of closing and such promise shall be <br /> specifically enfarceable by the Seller and their successors under the terms of this agreernent for a <br /> period of ten (10)years from the date of closing. <br /> 6. Seller sha11 not be liable for any environmental defects to the Premises. <br /> 7. Default. If the conditions precedent of this Contract are satisfied or waived by <br /> Buyer and Seller, and if Seller fails to consummate this Cvntract for any reason ather than the <br /> default of Buyer, then Buyer may enforce specrfic performance or seek other legal remedies. If <br /> Buyer shall default in the performance of its obligations under this Contract, then Seller may <br /> enforce specific performance or seek other legal remedies. <br /> 6 <br />
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