2025-059 Ordinance - Laserfiche WebLink

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L::EXHIBITA AGREEMENT OF PURCHASE AND SALE This Agreement of Purchase and Sale ("Agreement") is made effective the day of , 2025, by and between the Board of Education of North Olmsted City School District, Ohio, an Ohio public school district and political subdivision organized pursuant to the laws of the State of Ohio (the "Seller"), and the City of North Olmsted, Ohio, an Ohio chartered municipal corporation and political subdivision organized pursuant to the Constitution and laws of the State of Ohio (the "Purchaser"). WITNESSETH: WHEREAS, the Seller and Purchaser previously entered into a Purchase and Sale Agreement (PSA) in October, 2022 for the former Forest and Spruce Schools; and WHEREAS, that PSA contained a provision entitled Purchaser Priority Right to Acquire Other Seller Properties; and WHEREAS, the Additional Properties referenced in that provision are the Seller's Chestnut, Maple and Pine Intermediate Schools; and WHEREAS, the Parties believe that the Purchaser is in the best position to lead the redevelopment of the Additional Properties to benefit the broader community; and WHEREAS, pursuant to Section 3313.41(C) of the Revised Code, the Seller has determined to sell the Additional Properties to the Purchaser and the Purchaser has determined to buy the Additional Properties from the Seller on the terms and conditions set forth in this Agreement; NOW, THF,REFORF,, the Purchaser and the Seller agree as follows: l . Recitals. The recitals are hereby incorporated by reference as though fully set forth and rewritten in this Agreement, and the affirmative statements made in the recitals are hereby ratified and confirmed. 2. Properties. Seller is the owner of certain real property (collectively known herein, together with all buildings, structures, fixtures and improvements, as the "Properties") and further known as: A. Chestnut Intermediate School located at 30395 Lorain Road, North Olmsted, Ohio 44070, and identified in the records of the Fiscal Officer of the County of Cuyahoga, Ohio, as Parcel Identification Nos. 234-15-004, 234-15-017, 234-15-088 and 234- 16-004. B. Maple Intermediate School located at 24101 Maple Ridge Road, North Olmsted, Ohio 44070, and identified in the records of the Fiscal Officer of the County of Cuyahoga, Ohio, as Parcel Identification Nos. 231-21005, 231-21-022, 232-21-063 and 231- 23-030.