02-19 - Authorize Sale of Vacant Parcel at 1468 W. 117th St.

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EXHIBIT A REAL ESTATE PURCHASE AGREEMENT 1. OFFER OF PURCHASE AND SALE. ALLEN CHEN ( "Buyer ") offers and agrees to buy and CITY OF LAKEWOOD LAND REUTILIZATION PROGRAM ( "Seller ") agrees to sell the property de- scribed below. The "date of this Agreement" shall mean the date it has been signed by all parties. 2. THE PROPERTY. Addresses: WE known as 1468 W. 117`h Street, Lakewood, OH 44107 Permanent Parcel No(s).: 315 -13 -103 Check here ® if a full legal description is attached hereto as an exhibit. The "Property" shall include the land described above, and all easements, hereditaments, appurte- nances, all buildings and fixtures in their present condition. Additional items included: none. Items excluded: none. 3. PURCHASE PRICE. The price shall be Twenty Thousand Dollars ($20,000) (the "Purchase Price "), to be paid to Seller in ready funds at Closing. 4. FINANCING CONTINGENCY. (Reserved.) 5. CONDITION OF THE PROPERTY• DISCLOSURES. A. Purchase of the Property "As -Is ". Except as provided to the contrary in this Agreement, Buyer and Seller agree that the property is being purchased and sold in its present condition, "AS IS," without any warranties or representations. B. State of Ohio Residential Property Disclosure Form. (Check one) ❑ Seller has delivered a copy of the Disclosure Form to Buyer. ❑ Seller shall deliver a copy of the Disclosure Form to Buyer within 3 days following the date of this Agreement. ® This transaction is exempt from the Disclosure Form requirements. Seller shall promptly provide Buyer with an amended Disclosure Form if Seller becomes aware of any inaccuracy, omission or change of condition of the Property. C. Lead Based Paint. (Check One) ® The property is vacant land, has no structures and a lead based paint warning is not required. ❑ The property was constructed in or after 1978 and a lead based paint warning is not required. ❑ The property was constructed prior to 1978 and the Seller has provided to the Buyer a lead based paint warning statement and pamphlet as required by Federal Law.