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~) ~ociety Dank will purchase tho post office <br />bull~lng for ~00,000. The City's purohass price of $1~0,000 <br />being paid to th=m and =he $20,000.00 balance to L.A..I. Inc.' <br />for reimbursement o£ a per'riCh of th=. d~v~lopmo~t oo~t incur=e~ <br />by ~h~m in =he past year or so on that portion of their <br />~evelopmen=. All cost over and above $20,000 are waived by <br />L.A.S. Inc. <br /> 4) The City uno Society will =Xohange the city lot <br /> south o~ the pos= office PPN 314-04~02~ of approximately 21,280 <br /> for the three lo/st PPN' 314-04-011,12,56~ of' approxlmstely <br /> ~0~3~4 Sq.~, Those lots being.in the center of the <br /> de¥~l~p~l%D plan and Currently l~ousin~'tho busiest ATM of <br /> Society. <br /> D~GauS~ Of the city'~ n~d ~ remove that ATM and <br /> ~O~lU~y'~ ne~d %~ C°ntinue full ~erViu~ the city will permit <br /> =he %~mporary plau=ment' of.al% ATM'on the d~oribed city parking <br /> lot during, the oonstruotion phase n=uessary for preparing the <br /> post Office building. The appraisal r~nderea indicates that <br /> ~h~ city l~t iS appraised at app~oximately $10~000 mare than <br /> ~he $0ciety' lots and the <br /> difference. <br /> ~) The City will bear tile cost of temporary <br /> relocation ~£ %h~ auto teller, ~uch cost~ to include, but not <br /> limited ~o u~ili~y conn~c=ions~ hook-up tests,, buildlng ~ental <br /> and site WO~. Tho~e co,ts ute ap~roximatod at $50,000. <br /> Society agrees to "cap" the city's liability at a maximum of. <br /> $~9~000 which will b~ paid a~ %he tim~ of closing upon <br /> substantiation being provided. <br /> 6) AG~nowledqin~ societY's'right to relo~ation <br /> e~p~nses for ~he 'branch and th~ valu~ of th~ ourr~n~ lea~e~. <br /> $~u£=~y waives all coste of moving or olaim~ for the lease <br /> po~ O££1ce for full occupancy by.un estimated date of July, <br /> 1992. <br /> Th~ City will take title F~bruary~ 1992 of the <br /> buildiu9 ~t 1490~ Detroit Avenue. The city will waive the <br /> $1~000 p~r mo~%th rental from March <br /> Augumt 1~ 199~ whichever occurs first. Should tho move not <br /> tak~ plau~ for reasons outside of Sooi=ty National Bank's <br /> control~ thi~ provision and the dates hurein will bo reviewed <br /> and oEtonded for good cause, <br /> A~ you ~1~ $0 aptly pointed out to me~ the starting of <br /> both the d¢¥=lopmen= plans and socle~y purchase at the earliest <br /> %1~ ~as the effect of acuel=rated tax =evenue~ for the <br /> <br /> <br />