27-80 Purchase 1355 Sloane - Laserfiche WebLink

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., . I I I 11 Ii I ,I il " " II Ii II 5 FAILURE TO EXERCISE OPTION f the City of lakewood does not exer- Ii I! clse this option as herein provided, this option shall then terminate and I 'I the sum of One Dollar ($l.OO) paid by the City of lakewood shall be retained II by James and Harcia Pfaff free of all claims of the option, and neither party I II I' I II shall have any further rights or claims against the other and James and " I II Harcia Pfaff shall be free to sell the subject real property to any person, I ,I II firm or corporation they see fit. i¡ !i 6. ASS I GN~1ENT This Option Agreement shall not be assigned without Ii !I the express written consent of both parties hereto. II 7. MISCEllANEOUS PROVISIONS A. This Option Agreement shall be construed under the applicable Ii provisions of Ohio law. The parties hereto agree to comply with all I' Ii provisions of the Uniform Property Acquisition Act. ,I :1 B. This Option Agreement represents the entire Agreement between I !, ! Ii the parties and no oral understanding in existence prior to the 1 , execution of this Agreement shall have any force or effect. I , C. Time is of the essence of this Agreement. , , ¡: !: 8. MUN I C I PAL APPROVAL Th i s O¡Jt i on sha 11 not be va lid unt i 1 the Counc ill II of the City of lakewood has adopted legislation approving this Agreement pur- I i i suant to all appl icable provisions of the Ordinances of the City of lakewood , ¡I A certified copy of the ordinance shall be sent to the Se ers. Done at lakewood, Ohio, on this __ day of - 980 CITY OF lAKEWOOD 2· ~ -- . Sinagra Mayor vII TNESSES James A. Pfaff 'I Î ~1arcia~Pfaff ! I I i l -2- I I ' ¡ '""f-r'1f'/""""-"'-""