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R95-146 ACCEPTING NOMINATION BY CICD
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R95-146 ACCEPTING NOMINATION BY CICD
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Last modified
7/8/2016 1:36:42 PM
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7/8/2016 1:36:40 PM
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Resolution/Ordinance
Res Ord Num
R95-146
Res Ord Title
ACCEPTING NOMINATION BY CICD REGARDING OPTIONS TO PURCHASE REAL PROPERTY
Approved Date
10/9/1995
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• � , <br /> . • r <br /> ' ADDENDUM TO R�'AL EST�ITE nURC:�.�►SL <br /> AGR�EMENT DATED OCTOBER , 1994 <br /> Buyer and Selier agree as iollows : <br /> p. Selle� sk:a?.i. hav� tw�ive (12? montns �rom the da�e Seller <br /> is no�ified by 9uyer of Buyer ' s exercis� of its option to }�urcnase <br /> the described �ea1 estate to continue to conduct 5eller' � retail. <br /> bu�iness in a�der to li�uidate Sel�.er' s inventorY. In the event <br /> Se11er l.i.quidates SeZl.er � s inventarY prior to t;:e expiration of <br /> the twelve (��} month pexzod, Se�ler shaJ.l de�iv�r poss�ssian �.o <br /> Huyer �apon completion af liquidstion of 3eller` a inventory. <br /> 8, When Suyer gi�rea no�ice to Se�.ler of �he exerc�se of <br /> Buyex' � optian to puzcha5e, Buyer at that point is bound ta pur- <br /> chase the Qr�mises, and the �urcr.ase pr�ce o� Fifty-aix Thou�and <br /> Doll.ars ($S6, 000) shall. be �aid �.� t:e time of the closing of the <br /> purChase of �he real es�at�e, but iz� thr� event Buyez defaulta for <br /> an�r zeasor. other than Sellex' s default, BuYe� shall pay Seiler as <br /> liqu�,d�,ted damages the sum ay FiftY-s�.x Thousand Dollara <br /> f$56, 000} , <br /> C� This A.ddendum replaces t�:e secor.d Paragraph of� Paragraph <br /> 3 of �he Real �state Purchase Optior. da�ed Oc�ober �, 1.9g9�, <br /> wh:.ck� Faragraph s';za�1 be deleted by s�.riking throurh t�.e �a.�e� <br /> said deletion being initia].ed bY the partzes . <br /> Dated this � daY of Oc�ober, 1994 • <br /> 5e�12r: <br /> ` Buyer: Community Inv�st:��n� <br /> �� Cozporat�o:� of Decatur, Inc. , <br /> an x7.I.ir.ois Not-�For-Pro�` G <br /> � ��,� , � .G� CqzporaC-or '� <br /> i / <br /> _ c��(�Y1�� 3y: <br /> �! �. / / t/ <br /> o1,and�Jo son <br />
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