2021-068 Ordinance - Laserfiche WebLink

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portions; and by continuing to maintain and operate other portions of the Subject Properties as a portion of an existing public multi -use path or as portions of City street rights of way; and WHEREAS, Grantor and Grantee have agreed that Grantee's payment of $1.00 together with its performance of the terms and conditions of this Agreement and those contained in the Director's Deed by which title to the Subject Properties will be conveyed constitute the fair and reasonable amount of consideration to be provided by Grantee for the conveyance of the Subject Properties; and WHEREAS, Grantor and Grantee have agreed that it is in the public interest that Grantor sell and convey to Grantee the Subject Properties.. Now THEREFORE, in consideration of the foregoing and the further consideration of the promises, agreements and covenants hereinafter contained, Grantor and Grantee hereby contract as follows: 1. Grantee will pay to Grantor the sum of Error! Reference source not found. at the time of the consummation and closing of this Agreement. 2. Grantee will not under any circumstances advertise, or agree to sell or otherwise alienate the Subject Properties, or any portion thereof, to any third party until after the Director's Deed contemplated by this Agreement has been delivered to Grantee. If Grantee fails to abide with the terms of this section, then, at its exclusive option, Grantor may cancel the within contemplated sale and conveyance to Grantee. 3. All portions of the Subject Properties have been designated as exempt from real estate taxes. However, should any real estate taxes, assessments or penalties be determined to be due and payable on any portion of the Subject Properties as of the date of this Agreement, Grantee agrees to assume and pay the same; and that Grantee will be solely responsible for any and all taxes, assessments and penalties subsequently assessed and accrued. 4. Grantor, upon fulfillment of all the obligations and terms of this Agreement, will convey the Subject Property to the Grantee. The conveyance instrument will be a Director's Deed (as provided for in section 5501.45(E) of the Ohio Revised Code) that quit -claims all the rights, titles and interests of the State of Ohio. Said Director's Deed will be delivered to Grantee at the time of consummation and closing of this Agreement. 5. When Grantor acquired the following parcels of property it purchased total properties that included both intended state highway right of way and excess land or uneconomic remnants and to conveyance instrument incorporated the descriptions from the owner's last prior deed. For purposes of conveying only those portions of these parcels that are excess land and to split those from state highway right of way that will be retained, Grantee agrees to obtain at its expense all necessary metes and bounds descriptions and survey or lot split plats or exhibits for Page 3 of 9