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- 2 - <br /> <br />and the use of such real estate shall be subject to the follow- <br />ing restrictions which shall be effective for a period of three <br />years from the date of filing such deed for record, with the <br />recorder of Cuyahoga County, Ohio, to-witS <br /> <br />permitted Uses - administration or professional office build- <br />ings <br />Required Parking - I space per ~O0 square feet floor area <br />Maximum Heights - 1OO feet <br />Maximum Land Coverage - Cot floor area ratic.~ control) about <br /> of la d <br />· ards - setback from Warren, .~ feet; setback from Victoria <br /> Avenus, ~ feet or 1/2 heigh.~ of buildings, whichever <br /> is greater <br />Site Plan - require submittal of site plans for review, <br /> ordination and approval by the plan_fLing co~_ssion <br /> <br />Said deed shall contain the further provision, that upon the <br />violation of said use restrictions, Such deed shall be null <br />and void and the title to said premises and the right of <br />possession thereof shall at once revert to the City of Lakewood, <br />its successors and assigns, and the grantee named in such deed, <br />his heirs and assigns, by accepting such deed, consents and <br />agrees to hold said premises subject to the restrictions next <br />above expressed, <br /> <br />The city reserves the right to reject any and all bids, or <br />parts thereof, and waive any informalities. <br /> <br />The city shall pay the cost of a title gu~ranty in the amount <br />of the bid of the successful bidder, and one-half the escrow <br />feeI the successful bidder shall pay one-half ef the escrow <br />fee~ Taxes and assessments, if any, shall be pro-rated as of <br />the date of the filing cf the deed for record. <br /> <br />The city shall retain possession of such r. eal estate, free of <br />any occupancy charge, until Js_,uary 1, 1960, or until title <br />tO such real estate is transferred to the successful bidder, <br />whichever date is later. <br /> <br />All buildings located on said described real estate shall be <br />razed at the expense of the Successful bidder within 90 ~ays <br />after title is transferred to Such successful bidder. <br /> <br />The successful bidder shall furnish a bond in the amount of <br />seventy five thousand dollars, in favor of the City of Lakewood, <br />conditioned upon the faithful performance of all ef the terms <br />and c0nditions of his bid. <br /> <br />Each bidder shall deposit not less than 3% of the sum bid for <br />said real estate, to guarantee the faithful performance of the <br />bidt each deposit shall be in the form of a certified checkl <br />checks of unsuccessful bidders shall be returned to them upon <br />the award being made, amd the check Of the successful bidder <br />will be retained and applied against the bid pricel the balance <br />of the bid price shall be deposited with the escrow agent not <br />later than December <br /> <br />The city shall deliver its said deed to the escrow agent not <br />later than December 31, 195~, provided that the funds of the <br />successful bidder are on deposit with the escrow agent at <br />such time. <br /> <br />The council upon the award of the bid being made shall direct <br />the said Frank P. Celeste, director of public ~rks and the <br />mayor of the City to convey said real estate by limitedwar- <br />~an~.F deed to the successf~l bidder therefor according to law. <br /> <br /> <br />