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PURCHASE AGREEMENT <br />TIMOTHY P. DUNPHY and JOANNE M. DUNPHY, of 27450 Butternut Ridge Road, <br />owners of the hereinafter described property, herein refened to as "Sellers", agree to sell to THE <br />CITY OF NORTH OLMSTED, an Ohio municipal corporation, hereinafter referred to as <br />"Buyer", and Buyer agrees to purchase from Sellers the real property herein called "said <br />property", which consists of an improved parcel of real property, together with the tenements, <br />hereditaments, and appurtenances belonging or appertaining to it, located at 27450 Butternut Ridge <br />Road, North Olmsted, Ohio 44070, known as Permanent Parcel Number 232-11-006 and 232-11- <br />023, and as is more fully described in the Legal Description which is attached hereto, made a part <br />hereof, and marked respectively 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 TWO HUNDRED SEVENTY THOUSAND <br />DOLLARS ($270,000.00), and it shall be placed in escrow as herein provided payable to Sellers <br />upon closing. <br />_ ARTICLE 2. FSCROW <br />O_pening 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.