R2006-40 AUTHORIZING AGREEMENT WITH GMRI, INC.

Home Browse Search

• Decatur—06G0023 c8-final • 10/19/O5, 10/20/05,10l21/O5, 10/24/O5, 11/11/O5, 12/20/O5, 1/31/06 RIDER (Additional Provisions) PART A: SELLER'S 1NITIAL WORK (TO BE PERFORMED BEFORE DUE DILIGENCE PERIOD STARTS, BUT NOT LATER THAN 60 DAYS AFTER EFFECTIVE DATE EXCEPT AS OTHERWISE NOTED.) l. Zoning. If not already obtained, Seller will obtain zoning, subdivision and all variances required for the Contemplated Use. 2. Tar eg t Approval. Seller will use commercially reasonable efforts to obtain an amendment of the OEA, in recordable form reasonably acceptable to Buyer, signed by the"Approving Parties" and all other parties necessary to make it fully effective and enforceable (such as, but not limited to, lenders), providing for the following ("OEA Amendment"). Except with respect to the portion of the OEA amendment described in Item b. below, Buyer will have the right to terminate this Agreement if Seller is unable to obtain the OEA Amendment in its entirety. a. Amend Section 3.2(E)of the OEA to allow the parking requirements for Pad B of the Developer Tract to be met through a combination of parking on Pad B and on the balance of the Developer Tract. b. Amend Section 4.3 to provide separate treatment for Pad B such that if Target chooses to take over and assume maintenance of the Developer Tract pursuant to its rights in Section 43,but Pad B has been properly maintained,then Target will(i)permit Pad B to continue to be maintained by the owner or occupant of Pad B and(ii)Pad B will not be required to pay a share of the Common Area costs described in Section 4.3(B). c. Amend Section 5.1 H to permit the employees of the business operating on Pad B to park on both on Pad B and the Overflow Parking Area. d. Amend Section 5.3(A)to permit the occupant of Pad B to have a monument sign on Pad B along Highway 51 in the location shown on Exhibit"A-2". e. Amend Section 5.3(E)to permit the building on Pad B to have identification signs on each of three(3) sides of the building. f. Amend Section 5.4(G)to either(i)delete the$150,000.00 deductible limit as it applies to Pad B, or(i)modify the limit to be a limit on a the amount a Party can have as a"self-insured retention", as opposed to a"deductible". g. Amend Sections 2.1, 2.2 and 2.4 to expressly state that all easements granted in such sections shall benefit all of the lots shown on the Site Plan(except for the lot burdened by a particular easement}. 3. Buyer's obligations under this Agreement are conditioned upon a modification of the permissible building area ("PBA") on the existing P.U.D. ordinance before Closing; Seller will obtain the P.U.D. modification. PART B - SELLER'S PRE-CLOSING WORK(TO BE PERFORMED BEFORE CLOSING) 8