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R2011-197 AUTHORIZING REAL ESTATE CONTRACT
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R2011-197 AUTHORIZING REAL ESTATE CONTRACT
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Last modified
8/31/2015 10:43:29 AM
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8/31/2015 10:43:29 AM
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Resolution/Ordinance
Res Ord Num
R2011-197
Res Ord Title
AUTHORIZING REAL ESTATE CONTRACT FOR PROPERTY LOCATED AT MOUND CENTER
Approved Date
12/19/2011
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Property to Buyer for the purchase price without the disclaimers, agreements and other <br /> statements set forth in this Paragraph 2 and that the disclaimers, agreements and other <br /> statements in this Paragraph 2 shall survive the closing of the sale under this Contract. <br /> 3. Conditions Precedent. <br /> 3.1 Seller's obligations under this Contract are subject to the following <br /> conditions: <br /> (a) Seller approving Buyer's site plan, landscape plan, building elevation <br /> and sign renderings for Seller's proposed development of the Property. <br /> (b) Buyer obtaining all approvals and permits from all governmental <br /> authorities having jurisdiction over the Property which are necessary to permit Buyer's <br /> proposed development of the Property. <br /> (c) Buyer and Smashburger Master LLC ("Smashburger") having <br /> executed a lease (the "Smashburger Lease")for premises being a portion of the building <br /> Buyer proposes to construct on the Property,with Smashburger being obligated to open for <br /> business in such premises upon Buyer completing all of its obligations under the <br /> Smashburger Lease which are conditions precedent to Smashburger taking possession of <br /> such premises. Buyer shall provide to Seller a true and correct copy of the Smashburger <br /> Lease once it is fully executed. <br /> (d) Buyer providing to Seller an executed estoppel by Smashburger <br /> regarding the Smashburger Lease being in force and effect, such estoppel in form and <br /> substance acceptable to Seller. <br /> If all of the foregoing conditions have not been satisfied by one hundred fifty <br /> (150) days after the Effective Date of this Contract, then this Contract may be terminated <br /> by Seller by written notice to Buyer. As used in this Contract, "Effective Date of this <br /> 2 <br />
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