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3-12-18 Special Meeting
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3-12-18 Special Meeting
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Last modified
4/16/2018 11:32:45 AM
Creation date
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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STATE OF NORTH CAROLINA <br />COUNTY OF LEE <br />AGREEMENT FOR THE PURCHASE AND SALE <br />OF REAL PROPERTY <br />THIS AGREEMENT FOR THE PURCHASE AND SALE OF REAL PROPERTY (the "Agreement") Is made <br />and entered Into this 1210 day of rGn . 2018, by and between THE COUNTY OF LEE, a <br />North Carolina governmental entity ("Purchaser"), or its assigns, and Broadway Optimist Club,inc., a <br />North Carolina non-profit corporation ("Seller"); <br />WITNESSETH <br />WHEREAS, Seller owns a tract of real property located at 100 Gilbert Lett Road in Broaway, Lee <br />County, North Carolina, being all shown on Exhibit A attached hereto (the "Property"); and, <br />WHEREAS, the Seller desires to sell to Purchaser the Property pursuant to the terms and <br />conditions contained in this Agreement, and <br />NOW, THEREFORE, in consideration of the mutual representations, warranties, covenants and <br />agreements contained herein and for other good and valuable consideration, the receipt and sufficiency <br />of which are hereby acknowledged, the parties hereto intending to be legally bound hereby agree as <br />follows: <br />1. Pro . Subject to the terms and conditions of this Agreement, Seller hereby agrees to <br />sell to Purchaser, and Purchaser hereby agrees to purchase from Seller, all those parcels of land shown <br />on Exhibit A attached hereto (the "Property"); <br />2. Purchase Price. The purchase price for the Property shall be Fifty Thousand and 00/100 <br />dollars ($50,000.00) plus any amount owed by the Seller for a loan of which the subject property serves <br />as collateral("the Purchase Price"), payable at Closing, said amount being used to obtain a release of the <br />land as collateral for Seller's Loan to First Bank <br />3. Earnest Money. Contemporaneously with the execution of this Agreement For The <br />Purchase and Sale of Real Property, Purchaser and Seller have directed the Closing Attorney to transfer <br />the $0.00 option money being held in Closing Attorney's trust Account into an account in preparation for <br />this pending Closing (the "Earnest Money"). The Earnest Money shall be held by Seller in accordance <br />with Article 11. <br />4. Seller's Representations and Warranties. <br />a. Seller is the owner of good and marketable fee simple title to the Property, free and <br />clear of all liens, royalty reservations or obligations, easements, restrictions, <br />options, reservations, mortgages, security titles and Interests, covenants, <br />conditions, rights of way, licenses, permits, encumbrances, leases, tenancies, claims <br />
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