2003 013 Ordinance - Laserfiche WebLink

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PURCHASE AGREEMENT Parcel Number 3 This AGREEMENT is made and entered into this day of , 2003, between EDWARD R. FALKNER, INC. (hereinafter called "Seller") and MAYFIELD VILLAGE (hereinafter called "Buyer") WHEREAS, the Buyer, Mayfield Village, is an Ohio Municipal corporation, located in the County of Cuyahoga, State of Ohio, and is fully authorized to enter into this Agreement; and WHEREAS, Seller agrees to sell to Buyer and Buyer agrees to purchase the following described real estate, with any appurtenances, located in the County of Cuyahoga, Village of Mayfield, and State of Ohio: Permanent Parcel No. 831-013-005 and referred to as Parcel 3 as designated in the Site Sketch attached hereto as Exhibit "A". See the Legal Description as set forth in Exhibit "B" attached hereto and incorporated herein by reference. The terms of the Agreement are as follows: 1. PURCHASE PRICE. The Seller agrees to sell and Buyer agrees to purchase the real estate described as the area representing Parcel 3 as set forth above for the sum of One Hundred and Sixty Eight Thousand Four Hundred and Fifty Eight Dollars ($168,458.00). Such purchase shall be contingent upon Village Council's approval which shall be obtained no later than sixty (60) days from the execution of this Agreement. This purchase price may be adjusted by the mutual agreement of the parties hereto if changed market conditions are deemed to exist. 2. CONDITION SUBSEQUENT. This agreement shaii be contingent on the execution of two additional purchase agreements between the Seller and Buyer hereunder for land more commonly referred to as Parcel 1 and Parcel 2. This condition shall survive the closing of this sale and shall remain binding on the parties hereto, their successors and assigns. In the event that this sale, and tlie sales of Parcels 1 and 2 are not completed according to the terms of each agreement, and in no event later than 3 years from the date of the execution of this Purchase Agreement, this Agreement shall be deemed null and void. If deemed null and void, any payments made to Seller shall be returned and Buyer shall execute all documents necessary to transfer the Parcel back to Seller. Both parties agree to coo erate so as to return both parties to the same position prior to entering into this transaction. EXHIBIT A 119