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Agenda - Council - 04/25/2017
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Agenda - Council - 04/25/2017
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3/17/2025 3:32:02 PM
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4/25/2017 2:48:22 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
04/25/2017
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EXHIBIT A <br /> Key Terms and Definitions <br /> A. Definitions.For purposes of this Agreement,the following capitalized terms shall have the <br /> following meanings: <br /> I. "Agreement" shall mean the Purchase Agreement between Buyer and Seller to which this <br /> Exhibit is attached. <br /> 2. "Buyer" shall have the meaning assigned to such term in the opening paragraph of this <br /> Agreement. <br /> 3. "Buyer's Closing Documents"shall have the meaning assigned to such term in Section 8.2 <br /> of the Agreement. <br /> 4. "Closing"shall mean the closing of the purchase and sale of the Property contemplated by <br /> this Agreement. <br /> 5. "Closing Date" shall mean thirty(30)days after the expiration of the contingencies but no <br /> later than September 29, 2017. <br /> 6. "Closing Statement" means a closing statement prepared by the Title Company to be <br /> executed by Seller, Buyer, and the Title Company at the Closing that accurately describes <br /> the economic terms of transaction described this Agreement <br /> 7. "Code" shall mean the Internal Revenue Code of 1986, as amended. <br /> 8. "Consent" means the prior written consent of Buyer, which consent may be withheld in <br /> Buyer's sole discretion unless otherwise stated in this Agreement. <br /> 9. "Cure Period"has the meaning set forth in Section 5.3. <br /> 10. "Deed" shall mean a Limited Warranty Deed conveying the Property to Buyer, free and <br /> clear of all encumbrances, except the Permitted Encumbrances, at the Closing. <br /> 11. "Earnest Money" means Nine Thousand One Hundred Fifty Dollars ($9,150.00), along <br /> with any interest or earnings accrued thereon while such funds are held by the Title <br /> Company. <br /> 12. "Effective Date" shall be as defined in the opening paragraph of this Agreement. <br /> 13. "Escrow Agreement" shall mean any form of acknowledgement of escrow deposit in the <br /> form required by the Title Company upon its receipt of the Earnest Money. <br /> 14. "Executory Period" shall mean the period of time from the Effective Date through and <br /> including the Closing Date. <br /> 15. "Extended Closing Date"means the date which is 60 days after the Initial Closing Date. <br /> US.106153450.02 <br />
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