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EXHIBIT <br />? <br />J <br />? <br />RE,AL ESTATE PURCHASE AGREEMENT <br />THIS REAL ESTATE PURCFIASE AGREEMENT ("Agreement") is made as of this <br />day of March, 2012 (the "Effective Date") by and between CITI' OF NORTH OLMSTED <br />(an Ohio municipal corporation) having an address at 5200 Dover Center Road, North Olmsted, <br />Ohio 44070, (the "Purchaser") arxd Ronald J. Mayie and Christina Mayle, having an address at <br />3827 Dover Center Road, North Ohnsted, Ohio 44470 (the "Seller"). <br />PREMISES. <br />Seller hereby agrees to sell and Purchaser hereby agrees to ptuchase, upon and subject to <br />the #erms and conditions hereinafter set forth, that certain real property coxzsisting of land and <br />bnilding located at 3827 Dover Center Road, North Olmsted, Ohio 44070 with Permanent Parcel <br />Numbers 232-21-019 and being more fuily described in Exhibit A attached hereto and <br />incorporated herein, together with easements, rights, privileges and appurtenances thereunto <br />belonging (referred to herein as the "Premises"). <br />2. PURCHASE PRICE. <br />Se)ler agrees to convey the Premises and Easement to Purchaser for $260,000.00 (the <br />"Price") payable by Purchaser to SelIer at closing by certified check or cashier's check, subject <br />however to the. parties separate agreement to Residential Lease of said Premises back to Sellers, <br />together with escrow of funds in the amount of $5,000.00 in favor of the Purchaser to secure <br />right of repossession. The Price is subject to deductions far the costs associated with the <br />transaction, includi.ng but not limited to real esta.te taxes, as addressed herein and calculated by <br />escrow agent. The Price was determined in consideration of the Purchaser's appraisal of the <br />property together with the Seller's full and cornplete satisfaction of any and all interest in <br />relocation expenses and/ox other zncid.ental claims under state and federal law; the Purchaser <br />increased the Price by over $35,000.00 to fully compensate Seller for any and ail such statutory <br />displacement rights and relocation expenses. <br />CONDITION OF PRENIISES. <br />The Purchaser and the Seller agree that the Premises are being purchased in "as is" condition. <br />Further, Seller may exercise salvage rights on the Premises, subject to and conditioned upon <br />exercising such rights on or be;fore March 1, 2413, untess the Purchaser grants additional time <br />for same prior to actual demolition of the Premises and pursuant to parties' Residential Lease. <br />4. SALE CONTINGENCIES, <br />The Seller's obligation to consummate the closing under this Agreement shall be <br />conditioned npon the receipt of the Price by Sellez on or before the Closing Date.