Agenda - 12-7-15 Reg. Meeting - Laserfiche WebLink

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08J, STATE OF NORTH CAROLINA OPTION TO PURCHASE REAL ESTATE COUNTY OF LEE THIS OPTION TO PURCHASE REAL ESTATE (the "Agreement") is made and entered into this day of 20_, by and between THE COUNTY OF LEE, a North Carolina governmental entity ("Purchaser"), or its assigns, and National Finance Company, Inc., a North Carolina corporation ("Seller"); WITNESSETH WHEREAS, Seller owns approximately 0.551 acres of real property located at the southwest corner of Horner Boulevard and Courtland Drive, Sanford, Lee County, North Carolina, being all of tax parcel identification number 9652-15-6068-00, as further shown on Exhibit A attached hereto (the "Property"); and, WHEREAS, the Seller desires to grant to Purchaser an option to purchase the Property pursuant to the terms and conditions contained in this Agreement. NOW, THEREFORE, in consideration of the mutual representations, warranties, covenants and agreements contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto intending to be legally bound hereby agree as follows: 1. Property. Subject to the terms and conditions of this Agreement, Seller hereby agrees to sell to Purchaser, and Purchaser hereby agrees to purchase from Seller, all that parcel of land situated southwest corner of Horner Boulevard and Courtland Drive, Sanford, Lee County, North Carolina, being all of tax parcel identification number 9652-15-6068-00, as further shown on Exhibit A attached hereto (the "Property"); and containing approximately 0.551 acres, as more particularly described on Exhibit A attached hereto and made a part hereof (the "Property"). The Property is improved. 2. Grant of Option. For and in consideration of the payment by the Purchaser to the Seller of the sum of One Dollar ($1.00), per year of the initial Option Period (the "Option Deposit"), the receipt of which is hereby acknowledged, the Seller hereby gives and grants unto the Purchaser the exclusive right and option to purchase from Seller the Property upon the terms and conditions hereinafter set forth (the "Option"). Said Option Deposit shall be non-refundable. However, in the event that the Purchaser exercises the Option, then said Option Deposit shall be applied to the purchase price at closing. If Seller is unable to convey title to the Subject Property as provided by the terms of this Agreement, Purchaser shall be refunded the Option Deposit given to the Seller for the grant of this Option. 3. Option Period. The Option term shall exist and continue from the effective date of this Agreement to and including February 28, 2016. {N0049514.DOCX; 1)