2023-094 Ordinance - Laserfiche WebLink

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u EXHIBIT G PURCHASE AND SALE AGREEMENT THIS PURCHASE AND SALE AGREEMENT (this "Agreement's is entered into as of the_ day of , 2023 (the "Effective Date"), by and between the City of North Olmsted, Ohio, an Ohio Municipal Corporation ("Seller's, and BDW Properties, LLC, an Ohio Limited Liability Corporation ("Purchaser"). RECITALS WHEREAS, pursuant to the terms of this Agreement, Seller will sell and convey to Purchaser and Purchaser will purchase and pay for the Property (as defined herein). NOW, THEREFORE, for valuable consideration, including the purchase price and the mutual covenants of Purchaser and Seller set forth herein, the parties agree as follows: DESCRIPTION OF PROPERTY 1.1 Prone . Seller shall sell and convey, and Purchaser shall purchase and pay for, upon the terms and subject to the conditions hereinafter set forth, land containing approximately .6613 .6629 acres or 28,816 28,876 square feet, and more fully described in Exhibit A attached hereto and incorporated herein by reference, including the improvements and other buildings situated thereon with all fixtures and improvements associated therewith (collectively, the "Property") - 2. PURCHASE PRICE 2.1 Purchase Price. Purchaser shall pay to Seller on Closing (as hercinafter defined) a purchase price (the `Purchase Price") for the Property which shall be the sum of Twenty Five Thousand Eight Hundred Fifty Five Dollars ($25,855.00) for the Property; which Purchase Price shall be payable as follows: (a) An amount equal to Five Thousand Dollars ($5,000.00) (the "Earnest Money") shall be deposited in an escrow account (the "Escrow Account") with Nova Title ("Escrow Agent" or "Title Company's by wire transfer within five (5) days following the Effective Date. (b) The balance of the Purchase Price, subject to the prorations and adjustments described in this Agreement, shall be deposited into the Escrow Account by wire transfer of Federal funds or official bank or cashier's check drawn on an institutional commercial bank or savings and loan association payable to the order of Escrow Agent at least one business day preceding the Closing Date (as hereinafter defined).