1997 009 Ordinance - Laserfiche WebLink

Home Browse Search

AGREEMENT OF SALE I THIS AGREEMENT, is made this day of 1992, at Village of Mayfield, Ohio, by and among PAT LaCONTE, PAT LaCONTE as Executor.. of the ESTATE OF JEAN V. LaCONTE, deceased, RICHARD W. LaCONTE and ROSEMARY LaCONTE (hereinafter collectively referred to as the "Seller"), and VILLAGE.OF HAYFIELD, OHIO (hereinafter referred to as the "Buyer"). RECITALS . 1. Seller: except Richard W. LaConte is the owner of certain real property commonly known as Parkview Golf Course, as more specifically described,. by legal description, in Exhibit "A" attached hereto. 2. Seller desires to sell said real property, and Buyer desires to purchase said real property, all upon the terms and conditions hereinafter set forth_ NOW, THEREFORE, in consideration of the foregoing Recitals, the terms, covenants and conditions set forth hereinbelow, and other good and valuable consideration, the parties agree as follows: SECTION 1. SALE OF REAL PROPERTY Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller, the real property, commonly known as Parkview Golf Course, together with all hereditaments and appurtenances thereunto belonging, all as more fully described in Exhibit "A", attached hereto and made a part hereof as if fully written herein (such real property being hereinafter referred to as the "Real Property"). SECTION 2. PURCHASE PRICE: MAIJ`NER OF PAYMENT The Purchase Price for the Real Property shall be not less than $4,100,000.00, but subject to an increase based upon the Con- sumer Price Index -- Urban, Cleveland-Akron-Lorain, Ohio, 1982-84 = 100 (minus food costs [the "CPI-U"]). In the event that the effective date of this Agreement shall be on or before June 30, 1993, the purchase price shall be $4,100,000.00. In the event that the effective date of this Agreement shall be on or after July 1, 1993, the Purchase Price shall be the greater of (i) $4,100,000.00 or (ii) an amount determined by (i) multiplying_$4,100,000.00 by the published CPI-U number for the month of September for the year in which the written notice to exercise the option is delivered to Owners, and (ii)~~a'ividing the product by the published CPI-U index number for the month of June, 1992_ The Village shall receive credit against the Purchase Price due for the $2.50, 000.00 option price paid by the Village to Owners.