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R2006-40 AUTHORIZING AGREEMENT WITH GMRI, INC.
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R2006-40 AUTHORIZING AGREEMENT WITH GMRI, INC.
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12/2/2015 11:17:14 AM
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12/2/2015 11:16:54 AM
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Resolution/Ordinance
Res Ord Num
R2006-40
Res Ord Title
AUTHORIZING AGREEMENT WITH GMRI, INC. FOR OLIVE GARDEN PROPERTY
Approved Date
3/20/2006
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' Decatur—06G0023 c8-final <br /> ' 10/19/O5, 10/20/05,10/21/O5, 10/24/O5, 11/11/O5, 12/20/O5, 1/31/06 <br /> B. Post-Closin�Work. Upon completion of Seller's Post-Closing Work(as defined in the introduction to Part C) <br /> by Seller, the parties will notify Escrow Agent to release to Seller an amount out of Escrow equal to the Post <br /> Closing Amount. However, if Seller fails to complete the Post-Closing Work within the time frames set forth in <br /> Part C, Buyer may, at its option and using its contractors, complete Seller's Post-Closing Work. If Buyer <br /> completes Seller's Post-Closing Work, then Buyer will be paid from Escrow for all actual documented costs to <br /> complete the work, in an amount up to the Post-Closing Amount; if Buyer's costs to complete Seller's Post- <br /> Closing Work exceeds the Post-Closing Amount and/or if there are insufficient funds remaining in Escrow to <br /> fully reimburse Buyer for such costs,then Seller will reimburse Buyer outside of escrow for such excess costs. <br /> C. Balance; Deficiency. Any balance in the Escrow remaining after all payments pursuant to A. and B above have <br /> been made will be paid to Seller. <br /> D. Escrow Agent. In the event of a dispute between Buyer and Seller with respect to the Escrow, Escrow Agent <br /> shall have the right to deposit the Escrow Amount into a court of competent jurisdiction, and any reasonable legal <br /> fees paid by Escrow Agent in doing so shall be equally shared by Buyer and Seller. <br /> ,� <br /> I� INITIALS: � BUYER�c�� SELLER�3�i3-C(�ate)�1iUb(Date) <br /> 14 <br />
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