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CHANGES TO THE ORIGINAL TERM SHEET IN RED <br />Real Estate Tax ID Numbers 28-32-25-23-0011, 28-32-25-23-0012 and 28-32-25-23-0013 <br />Acreage Approximately 3.97 acres or 172,933 SF <br />Offer Price $1,383,464 ($8.00 / SF) <br />Earnest Money $10,000 Non-refundable <br />Additional Earnest $30,000, Non-refundable after each extension is exercised. <br />Money (For Extensions). <br />The change requested is that the entire $30,000.00 of non-refundable earnest <br />money is received by the City immediately instead of,pionthly extension <br />payments of $5,000.00 over a six month period. <br />Inspection Period INITIAL PERIOD: February 12, 2019-July 15, 2019 (city requires plat/ site plan. <br />approval before sale) <br />Closing Within 30 days of notice to proceed. Can be extended six times in one month <br />increments. <br />Extensions <br />The change requested is to include a date certain for the Closing Date on the <br />land transaction, The original agreement provided for the Closing to occur on <br />or before Feb. 15th 2020. This amendment would extend the Closing Date by <br />120 days to June 15th 2020. <br />Developer will deposit $30,000 in escrow to be drawn down by City in $5,000 <br />increments per month extended starting on July 15, 2019. Once City draws <br />down each monthly $5,000.00 extension it becomes non-refundable. <br />This paragraph would be deleted as there are no extensions beyond the <br />Closing Date (i.e. June 15th, 2020). <br />City take care of ALTA Survey and Title Work. <br />Deleted: upon acceptance the <br />Deleted: is released <br />Deleted: vs <br />Deleted: via <br />1 <br />Deleted: to close J <br />( Deleted: escrow J <br />Deleted: a <br />(l Deleted: COE J <br />l Deleted: COE 1 <br />Deleted: date certain COE <br />