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THIS AGREEMENT entered into at North Olmsted, Ohio, this day of , <br />1996, by and between the City of North Olmsted, Ohio (hereinafter, the "Seller), and Mongello <br />Associates, Inc. (hereinafter, the "Purchaser). <br />WHEREAS, Seller is the owner of certain real property located at 25128 Lorain Road, <br />North Olmsted, Ohio which is the former site of North Olmsted Fire Station No. 1; and <br />WHEREAS, it is the desire of the Seller to sell its interest in said real estate at the <br />aforesaid location known as 25128 Lorain Road, North Olmsted, Ohio, Permanent Parcel #231- <br />36-006, 007 and 008 as identified by the Auditor of Cuyahoga County; <br />NOW THEREFORE, on the basis of the foregoing premise, for the considerations <br />hereinafter recited, and on the conditions and terms which follow, the parties agree as follows: <br />ITEM ONE: Purchase and Sale of Real Pronertv <br />Subject to the terms and conditions of this Agreement, the Seller agrees to sell and the <br />Purchaser agrees to purchase all of the Seller's right, title and interest in the above-described real <br />property, which is located at 25128 Lorain Road, North Olmsted, Ohio. The real property being <br />sold includes the land, and all appurtenant rights, privileges and easements. The Purchaser <br />aFrees to purchase said real ?roper y in as-is condition. <br />ITEM TWO: Purchase Price <br />The purchase price for the real property described in Item One sha11 be: Two Hundred Six <br />Thousand Dollars ($206,000.00). <br />ITEM THREE: Pa,yment of Purchase Price. <br />The entire purchase price described in Item Two shall be paid to the Seller by the <br />Purchaser at the time of title transfer and all funds sha11 be deposited within thirty (30) days <br />following the date the parties sign this Agreement. <br />ITEM FOUR: Evidence of Title. <br />Seller shall convey good and marketable title to said property by furnishing Purchaser with <br />a general warranty deed to said properiy. Said deed shall release dower rights, if any, and sha11 <br />state that said property is being conveyed free and clear of all liens and encumbrances, except (a) <br />restrictions of record and any conditions, reservations and easements created in conjunction with <br />such restrictions; (b) zoning ordinances, if any. If Purchaser desires a Title Guarantee Policy as <br />evidence or insurance that there has been conveyed to Purchaser the title required to be conveyed <br />hereunder, the Purchaser sha11 bear the cost of acquiring such insurance.