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PURCHASE AGREEMENT <br />MURIEL B. EIAN, TRUSTEE OF THE MURIEL B. EIAN TRUST, AND JOSEPHINE <br />V. TRENTANELLI [hereinafter collectively, "Seller"], who are the owners of real property <br />located at 29590 Lorain Road, North Olmsted, Ohio [hereinafter, "the Property "], agree to sell <br />to THE CITY OF NORTH OLMSTED, an Ohio municipal corporation [hereinafter, "Buyer "], <br />whose address is 5200 Dover Center Road, North Olmsted, Ohio, and the Buyer agrees to <br />purchase from the Seller, the Property, which consists of an improved parcel of approximately <br />4.31 acres of land, together with the buildings, tenements, hereditaments, and appurtenances <br />belonging or appertaining to it, located at 29590 Lorain Road, and known as Permanent Parcel <br />Number 233 -13 -005, and as is more fully described in the legal description which is attached <br />hereto, made a part hereof, and marked as Exhibit "A ", upon the following terms and conditions: <br />ARTICLE I. PURCHASE PRICE <br />Amount <br />1.01. The purchase price for said property is THREE HUNDRED FORTY -EIGHT <br />THOUSAND DOLLARS ($348,000.00), and it shall be placed in escrow as herein provided <br />payable to Seller upon closing. <br />ARTICLE 2. ESCROW <br />Opening of Escrow <br />2.01. An escrow shall be opened, pursuant to this Agreement at CHICAGO TITLE <br />INSURANCE COMPANY within five (5) days from the date herein. <br />