Agenda - Economic Development Authority - 06/08/2017

Home

EXHIBIT A Key Terms and Definitions A. Definitions. For purposes of this Agreement, the following capitalized terms shall have the following meanings: 1. "Agreement" shall mean the Purchase Agreement between Buyer and Seller to which this Exhibit is attached. 2. "Buyer" shall have the meaning assigned to such term in the opening paragraph of this Agreement. 3. "Buyer's Closing Documents" shall have the meaning assigned to such term in Section 8.2 of the Agreement. 4. "Closing" shall mean the closing of the purchase and sale of the Property contemplated by this Agreement. 5. "Closing Date" shall mean no later than October 13, 2018. 6. "Closing Statement" means a closing statement prepared by the Title Company to be executed by Seller, Buyer, and the Title Company at the Closing that accurately describes the economic terms of transaction described this Agreement 7 "Code" shall mean the Internal Revenue Code of 1986, as amended. 8. "Consent" means the prior written consent of Buyer, which consent may be withheld in Buyer's sole discretion unless otherwise stated in this Agreement. 9. "Cure Period" has the meaning set forth in Section 5.3. 10. "Deed" shall mean a Limited Warranty Deed conveying the Property to Buyer, free and clear of all encumbrances, except the Permitted Encumbrances, at the Closing. 11. "Earnest Money" means Ten Thousand Dollars ($10,000), along with any interest or earnings accrued thereon while such funds are held by the Title Company. 12. "Effective Date" shall be as defined in the opening paragraph of this Agreement (June 13, 2017). 13. "Escrow Agreement" shall mean any form of acknowledgement of escrow deposit in the form required by the Title Company upon its receipt of the Earnest Money. 14. "Executory Period" shall mean the period of time from the Effective Date through and including the Closing Date. Page 12 of 15