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R2011-197 AUTHORIZING REAL ESTATE CONTRACT
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R2011-197 AUTHORIZING REAL ESTATE CONTRACT
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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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not disclose any condition, easement or restriction affecting the Property which would <br /> prevent Buyer's proposed development of the Property. <br /> (d) That the Property is zoned to allow Buyer's proposed development and <br /> use of the Property. <br /> (e) That Buyer obtains the consent of Target Corporation and Olive GMRI, <br /> Inc. to have the building on the Property as part of Buyer's proposed development of the <br /> Property face east, with its exits on the west side of such building. <br /> Buyer shall have until one hundred fifty (150) days after the Effective Date <br /> of this Contract to determine whether the above conditions have been satisfied to <br /> Buyer's satisfaction. Buyer may waive any condition. If Buyer does not give Seller a <br /> written notice that such conditions have been satisfied or waived by Buyer by one <br /> hundred fifty (150) days after the Effective Date of this Contract, then this Contract may <br /> be terminated by either Seller or Buyer by written notice to the other. <br /> 3.3. Intentionally Left Blank. <br /> 3.4. While this Contract is in effect, Seller shall (i) not enter into or amend <br /> any contracts, options, leases, easements or other agreements adversely affecting the <br /> Property, (ii) make all payments and otherwise perform the obligations under any <br /> promissory note and mortgage or deed of trust which encumbers the Property, and (iii) not <br /> take any action which would adversely affect the ownership or condition of the Property. <br /> 4. Closing. This transaction shall be closed at the office of the Title Company <br /> thirty (30) days after the expiration of the contingency period described in Paragraph 3.X <br /> ff <br /> above. <br /> 5. Survey. At Buyer's cost, Buyer shall cause a pre-construction ALTA <br /> 4 <br />
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