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W~-IEREAS, SELLER desires to sell and BIo~'ER desires to buy the Road/Utility Parcels in <br />accordance with the terms and conditions set forth herein. <br /> <br /> NOW, TI-tEREFORE, in consideration of the premises, the mamal covenants contained herein <br />and other good and valuable consideration, the receipt and sufficiency of which are hereby <br />acknowledged, the parties agree as follows: <br /> <br />SALE OF ROAD/L:TILITY P.4,RCELS. SELLER agrees to sell to BLryER and BUYER <br />agrees to buy fi.om SELLER the Road/Utility Parcels in accordance with and subject to the <br />terms and conditions contained in this Agreement'. <br /> <br />PURCHASE PRICE. The purchase price for the Road/Utility Parcels shall be Thirty Thousand <br />and No/Dollars ($30,000.00) and additional consideration described below payable by BbTER <br />to SELLER as follows: <br /> <br />Twen .w Eight Thousand One Hundred Forty-three and 00/100 Dollars ($28,143.00) to be <br />paid by BroilER on behalf of SELLER on the Closing Date to I:L&¥[SEY B&B <br />ASSOCLA. TES, LLC in order to ful:t'fll SELLER'S payment responsibilities described <br />in the Reciprocal Agreement. <br /> <br />(b) <br /> <br />One Thousand Eight Hundred Fifty~seven and 00/100 Dollars ($1,857.00) on the Closing <br />Date. <br /> <br />(c) <br /> <br />In addition to the cash consideration, the BUYER shall, at its expense, as the additional <br />consideration provide municipal sewer and. water utilities to the Ramsey Parcel. <br /> <br />3. CONDITIONS PRECEDENT. <br /> <br />(a) SELLER'S obligations under this Agreement are conditioned upon the following: <br /> <br />(i) B[J~ER performing its obligations in accordance with the terms of th.is <br /> Agreement. <br /> <br />If the conditions listed in this Section 3(a) are not satisfied on the Closing Date, then SELLER may <br />terminate this A~eement by sending written notice thereof to BLrYER and the parties shall have no . <br />further obligations to one another. <br /> <br />(b) BI~rER'S obligations under this Agreement are conditioned upon the following: <br /> <br />(i) <br /> <br />Title. Tide to the Ramsey Parcel shall be acceptable to BUYER in accordance <br />with Section 5 of this Agreement. <br /> <br />(ii) <br /> <br />SELLER'S Obligations, SELLER shali have perfbrrned all of SELLER'S <br />obligations in accordance with the terms of this Agreement including closing on <br />the Reciprocal Agreement. <br /> <br />-198- <br /> <br />I <br />I <br />I <br /> <br />I <br />i <br />i <br />I <br />I <br /> <br />Ol <br /> <br />i <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />