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PURCHASE AGREEMENT <br />This AGREEMENT is made and entered into this day of , 2003, <br />between JOHN J. PALERMO, (hereinafter called "Seller"), and MAYFIELD 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 Ohio, and is fully authorized to enter into this <br />Agreement; and <br />WHEREAS, Seller agrees to sell to Buyer and Buyer agrees to purchase the <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 Number: 831-11-017 <br />And also know as 596 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 of the Agreement 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 for the total sum of One Hundred and Eighty Thousand <br />Dollars ($180,000.00). Said purchase shall be contingent upon Village Council's approval <br />which shall be obtained no later than sixfy (60) days from the execution of this Agreement. <br />The purchase price shall be payable at the time set for the closing of this matter. <br />2. THE PREMISES. Purchase price set forth above shall include all rights, title and <br />interest of Seller in and to any land and improvements, buildings and fixtures thereon. <br />EXHIBIT <br />,I oo3-a