77-171 Ordinance - Laserfiche WebLink

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`Q,~, - 2 - ...~-, accept the money consideration less the cost of such restora- tion as hereinabove stated, the Purchaser may, at its option to be exercised within thirty days after discovery or notification of such destruction, removal, or injury, terminate this Agree- ment by written notice to said Owners. 5. Purchaser agrees that, upon acceptance of the ease- ment, it assumes all liability and responsibility for the main- tenance, repair, and improvement of such perpetual watercourse, ditch, channel, or other drainage facility constructed thereon to the extent that any such maintenance or repair is not caused by any negligent act or omission of the Owners, their respective suggessors or assigns. 6. Prior to acceptance by the Purchaser, the execution of this Agreement by the Owners shall constitute an offer to sell which shall continue for a period of twenty days from the date of such execution. Upon acceptance of this Agreement by the Purchaser within said period, it shall constitute a valid and binding Agreement of Sale and Purchase. 7. The consummation and closing of this Agreement shall be made at a time and place agreed upon between the parties, but no later than ten days after notification to the Owners by the Purchaser is ready to close, at which closing the Owners agree to deliver the duly executed easement required by this Agreement in the form and substance of Exhibit A attached hereto, and to execute, without cost to the Char_ers, such title closing papers not inconsistent with this Agreement, as may be required for the closing. Owners'costs for attorney's fees at the closing, shall be the Owners' responsibility. 8. Physical possession of the easement shall b e surrendered to the Purchaser on the date payment is tendered. 9. This contract shall be binding upon the Owners and the Owners' successors and assigns, and shall inure to the bene- fit of the Purchaser, its successors and assigns. IN WITNESS WHEREOF, the parties hereunto have set their hands: The Board of Education of the North Olmsted City School District on the day of 1977; the City of North Olmsted on the day of 1977; and the Purchaser, by the Director of Transportation or his duly authorized representative, its agent, on the day of 1977.