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R2024-297 Resolution Rescinding R2024-282 and Authorizing a Real Estate Sales Agreement for Properties between Vulcan Lands Inc., and Vulcan Construction Materials, LLC, and the City of Decatur
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R2024-297 Resolution Rescinding R2024-282 and Authorizing a Real Estate Sales Agreement for Properties between Vulcan Lands Inc., and Vulcan Construction Materials, LLC, and the City of Decatur
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9/13/2024 12:23:40 PM
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9/13/2024 12:23:36 PM
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Resolution/Ordinance
Res Ord Num
R2024-297
Res Ord Title
R2024-297 Resolution Rescinding R2024-282 and Authorizing a Real Estate Sales Agreement for Properties between Vulcan Lands Inc., and Vulcan Construction Materials, LLC, and the City of Decatur
Department
City Manager
Approved Date
9/3/2024
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b. All recording charges shall be paid by Buyer, except for recording charges in <br /> connection with the clearing of any title issues including, without limitation, <br /> mortgage satisfactions/releases, and UCC-3 financing statements, which shall be <br /> Seller's responsibility. <br /> 3.06. Closing. Provided that all conditions contained herein have been met or waived,the closing <br /> of the transactions contemplated hereby shall occur on or after December 1, 2024 (the <br /> "Anticipated Closing Date"), or on such other date as mutually agreed upon in writing by the <br /> parties; provided, however, Buyer shall have the right, in its sole discretion, to extend the time <br /> period for the Closing until the later of: (a)thirty(30) days after the Anticipated Closing Date, (b) <br /> five (5) business days following all conditions to Closing contained herein having been met or <br /> waived or (c) forty-five business days from the date of the Phase I environmental report). The <br /> parties intend to exchange executed documents prior to the Closing, to be held in escrow by the <br /> Title Company, with such Closing to be conducted by mail and telephone, together with wire <br /> transfer of funds. <br /> 3.07. Deliverables. Seller shall deliver to the Buyer all reports and studies it has in its possession <br /> including copies of surveys, title policies and environmental and soil reports, with 30 days of <br /> execution of this agreement. The Buyer, its agents,and assignees shall have the right to enter onto <br /> the Vulcan Property to conduct its inspections and testing, including environmental and soil <br /> testing. <br /> 3.08. Brokers. Each Party warrants and represents to the other that neither Party has retained a <br /> broker in connection with this sale and purchase of the Vulcan Property and each Party hereby <br /> indemnifies, defends and holds harmless the other against all claims for broker's fees or similar <br /> commissions from any brokers or finders, claiming by,through or under the indemnifying Party. <br /> 5 1 P a g e <br />
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