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Apr 17 03 01:17p Diemert &.Rssaciates (440).442-0825 p.4 <br />PURCHASE AGREEMENT <br />This AGREEMENT is made and entered into this day of , 2003, <br />between KENNETH E. ZAKO, (hereinafter called "5efler"), and NIAYF'IELD VILLAGE <br />(hereinafter called "Buyer"). <br />WHEREAS, the Buyer Mayfield Village, is an Ohio Municipal corporation, located <br />in the County of Cuyahoga, State of OhiQ, ar?d is fully authorized to en#er into this <br />Agreement; and <br />WHEREAS, Seller agrees to sell to Buyer and Buyer agrees to purchase fihe <br />following described real estate, with any appurtenances; located thereon in the County of <br />Cuyahoga, Village of Mayfield, and State of Ohio: <br />Permanent Parcel Nu'mber: 831-09-004 <br />And also know as 470 S.O.M. Center Road, Mayfield Village, Ohio 44143. The Legal <br />Description is set forth in Exhibit A, attached hereto and incorporated herein by reference. <br />The terms vf the p?greement are as follows: <br />1. PURCHASE PRICE: The Seller agrees to sell and the Buyer agrees to purchase <br />the real estate set forth above far the total sum of Six Hundred and Fifty Thousand Dollars <br />($650,000.00). Said purchase shall be contingent upon Village Council's approval which <br />shalf be obtained no fater than sixty (60) days from the execution of this Agreement. The <br />purchase price shall be payable as follows: <br />A. The sum of Two Hundred Thousand Doliars ($200,000.00) paid upon the <br />closing of this matter. <br />B. . The balance paid as follows: <br />(i) Four Hundred and Fifty Thousand ($450,000,00) payable on <br />September 30, 2003 if such funds are deemed readily available in <br />cash by the Director, of Finance for fihe Village; or EXHlBIT <br />? <br />? <br />A <br />a o 6% - ?F