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3-12-18 Special Meeting
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3-12-18 Special Meeting
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4/16/2018 11:32:45 AM
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4/16/2018 11:31:31 AM
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Admin-Clerk
Document Type
Minutes
Committee
Board of Commissioners
Date
3/12/2018
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other claims of Seller against Purchaser, provided further, however, if the remedy of <br />specific performance is not available to Seller, Seller shall be entitled to sue <br />Purchaser for money damages. <br />12. Damage and Destruction to Improvements. In the event that any improvement on the <br />Property is destroyed or substantially damaged after the acceptance of this Agreement and before <br />Closing, Purchaser, at its election, may cancel this Agreement or may elect to close under this <br />Agreement and receive such insurance as is paid on the claim of loss. This election Is to be exercised on <br />or before the earlier to occur of the date set for Closing or the date ten (10) days after the Purchaser has <br />been notified In writing by Seller of such destruction or damage. <br />13. Survival. None of the warranties, representations, covenants, terms, and conditions set <br />forth in this Agreement shall be merged into the documents executed and delivered at Closing. Instead, <br />any and all representations, covenants, terms, conditions, and warranties contained in this Agreement <br />shall survive the Closing. <br />14. Liabilities. Purchaser is not and shall not be deemed to be a successor to Seller. <br />Purchaser is acquiring only the Property. Purchaser has not assumed or agreed to assume any liability <br />whatsoever of Seller, and Purchaser does not assume or agree to assume any obligation of Seller under <br />any contract, agreement, indenture, or any other document to which Seller is a party or by which Seller <br />Is to be bound or which in any manner affects the Property or any part hereof, except as expressly <br />agreed to herein by Purchaser. <br />15. Existing Leases. Purchaser is aware of the current lease between Seiler and Lee County <br />as it involves Central Carolina Community College and the Dental Hygiene Program. <br />16. Risk of loss. Prior to Closing, risk of loss or damage to the Property, but excluding loss <br />or damage caused by Purchaser's negligence or willful misconduct, shall be on Seller. Upon Closing, risk <br />of loss to the Property shall be on Purchaser. <br />17. Notice. Any notice required or permitted under this Agreement must be in writing, <br />signed by the party giving the notice or by its attorney at law, and shall be deemed to be delivered, <br />whether or not actually received, when the notice has been deposited in the United States mail, postage <br />prepaid, registered or certified mail, return receipt requested, or when received If hand delivered or <br />delivered by express courier, as the case may be, addressed to the party to whom such notice is sent at <br />the address set forth below: <br />"Purchaser's Notice Address" shall be as follows: <br />County of lee <br />Attn: County Manager <br />P.O. Box 1968 <br />Sanford, NC 27331-1968 <br />"Seller's Notice Address" shall be as follows: <br />1805 Rice Road, Sanford, NC 27330 <br />
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