1998 031 Ordinance - Laserfiche WebLink

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Exhibia A - Ord. 98-31 PURCHASE AGREEMENT THIS PIIRCHASE AGREEMENT, dated , 1998, by and between CAPCO ENTERPRISES COMPANY, an Ohio general partnership, having an address at 6.000 Rockside Woods Blvd., #220, Cleveland OH 44131-2350 (the "-Seller"), and the VILLAGE OF HAYFIELD, an Ohio municipal corporation, having an address at 6621 Wilson Mills Road, Mayfield Village OH 44143 (the "Purchaser"). 1. PROPERTY. On and subject to the terms and conditions hereinafter set forth, Seller hereby agrees to sell to Purchaser, and Purchaser hereby agrees to purchase from Seller, all of Seller's right, title and interest in that certain parcel of real property situated in the Village of Mayfield, County of Cuyahoga, State of Ohio and more particularly described in Exhibit "A" attached hereto and made a part hereof and more particularly known as Permanent Parcel No. 831-41-001 together with all easements, rights, privileges and appurtenances thereunto belonging, including all right, title and interest of Seller in and to any land lying in the right-of-way of any street in front of or adjoining the parcel of real property to the centerline thereof (hereinafter collectively referred to as the ("Land"), and all improvements, buildings and fixtures thereon (the "Improvements"); the Land and the Improvements are sometimes referred to herein collectively as the ("Premises"). 2. PIIRCHASE PRYCE. The purchase price for the Premises shall be One Hundred Forty Thousand and 00/100 Dollars ($140,000.00) (the "Purchase Price"). The Purchase Price shall be paid by Purchaser to Seller on the Closing Date in cash or by bank transfer. There shall be deducted from the cash portion of the Purchase Price otherwise due to Seller on the Closing Date, the amount of credits authorized to Purchaser hereunder. 3. SIIRVEY and TITLE ERAMINATION OF PREMISES. (a) Purchaser shall have the right to cause a survey of the Land comprising the Premises (the "Survey") to be prepared, at Purchaser's expense, and the perimeter legal description of the parcel of land comprising the Premises prepared and certified by the surveyor shall be used in the Deed (as hereinafter defined). ~ S~~ (b) Purchaser shall have the right to instruct Title Company (the "Title Company") to issue a commitment for an ALTA Owner's Policy or Title Insurance (Form B- Amended 10-17-70) (the "Commitment"), in an amount equal to the Purchase Price setting forth the state of title to the Premises as of the effective date of the Commitment, the Title Company's requirements to delete the standard printed exceptions from the Title Policy (as hereinafter