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Agenda - Council - 08/08/2017
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Agenda - Council - 08/08/2017
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3/17/2025 3:37:14 PM
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9/13/2017 9:18:57 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Council
Document Date
08/08/2017
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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 />1. "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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