My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
SA 2017-001
Clerk
>
Resolutions
>
SUCCESOR AGENCY (formerly known as Community Redevelopment Agency)
>
2017
>
SA 2017-001
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
1/8/2018 12:31:01 PM
Creation date
1/3/2018 9:30:24 AM
Metadata
Fields
Template:
City Clerk
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
34
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
EXHIBIT A TO EXHIBIT 4 <br />PURCHASE AND SALE AGREEMENT <br />AND <br />JOINT ESCROW INSTRUCTIONS <br />This PURCHASE AND SALE AGREEMENT AND JOINT ESCROW <br />INSTRUCTIONS ("Agreement') is made and entered into as of October 17, 2017 (the "Effective <br />Date") by and between Seller and Buyer. <br />RECITALS <br />A. Seller is the fee owner of the Real Property. The Real Property is unoccupied and is <br />improved as part of a parking lot. The Real Property is subject to a rental agreement with the Owner <br />of the Adjacent Property (the "Rental Agreement'). The Owner of the Adjacent Property is related to <br />the Buyer. Buyer agrees to cause the Owner of the Adjacent Property to cancel the Rental Agreement <br />concurrent with the conveyance of the Real Property to Buyer under this Agreement. By executing this <br />Agreement, each of Seller and Buyer consent to the termination of the Rental Agreement automatically <br />as of the Closing. <br />B. Seller has offered to sell to Buyer the Real Property described herein for the price and <br />subject to the terms set forth below. Buyer has considered the offer by Seller and agrees to buy from <br />Seller the Real Property, as more specifically described below. <br />C. In addition to the Purchase Price, a material consideration to Seller in agreeing to sell <br />the Real Property to Buyer pursuant to this Agreement and but for which Seller would not have agreed <br />to enter into this Agreement or sell the Real Property to Buyer, Buyer has: <br />(i) Agreed to pay to Seller or to deposit with the Escrow Holder for delivery to <br />Seller the Independent Consideration Amount; <br />and <br />(ii) Agreed to deposit with the Escrow Holder for delivery to Seller the Deposit; <br />(iii) Agreed to the provisions set forth in Sections 14 and 15 hereof. <br />NOW, THEREFORE, in consideration of the mutual covenants and agreements contained <br />herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby <br />acknowledged, Seller and Buyer agree as follows: <br />1. Purchase and Sale. Seller hereby agrees to sell the Real Property to Buyer, and Buyer <br />hereby agrees to purchase the Real Property from Seller, on the terms and conditions set forth in this <br />Agreement. The term Real Property is defined as the fee interest in the Real Property to be conveyed <br />by a grant deed in the form of the Deed. <br />2. Payment of Consideration. As consideration for the sale of the Real Property from <br />Seller to Buyer, Buyer shall, at the Closing (as defined below), pay to Seller the Purchase Price for the <br />Real Property. Upon payment of the Purchase Price, the use of sales proceeds by Seller is a matter with <br />which Buyer is not concerned. <br />
The URL can be used to link to this page
Your browser does not support the video tag.