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Res 2014-112/Approving a contract with Jackson Chapel United Methodist Church for the City to purchase approximately 3.001 acres of land at 1400 Wonder World Drive near the intersection of State Highway 123 at a price of $522,894.00 for the location of a
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Res 2014-112/Approving a contract with Jackson Chapel United Methodist Church for the City to purchase approximately 3.001 acres of land at 1400 Wonder World Drive near the intersection of State Highway 123 at a price of $522,894.00 for the location of a
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Resolutions
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Approving
Number
2014-112
Date
8/19/2014
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which the Property is located, showing as debtor Seller and all other owners of the Personal <br />Property during the five years before the Effective Date of this contract. <br />4. Delivery of Title Commitment, Survey, UCC Search, and Legible Copies. Seller <br />must deliver the Title Commitment to Buyer by the deadline stated in section A.2.; the UCC <br />Search by the deadline stated in section AA.; and legible copies of the instruments referenced in <br />the Title Commitment, and UCC Search by the deadline stated in section A.5. Buyer will obtain <br />the Survey within the deadline stated in section A.3 and provide a copy to Seller within 15 days <br />after receipt by Buyer. <br />5. Title Objections. Buyer has until the deadline stated in section A.b. ("Title <br />Objection Deadline ") to review the Survey, Title Commitment, UCC Search, and legible copies <br />of the title instruments referenced in them and notify Seller of Buyer's objections to any of them <br />( "Title Objections "). Buyer will be deemed to have approved all matters reflected by the Survey, <br />Title Commitment, and UCC Search to which Buyer has made no Title Objection by the Title <br />Objection Deadline. The matters that Buyer either approves or is deemed to have approved are <br />"Permitted Exceptions." if Buyer notifies Seller of any Title Objections, Seller has five days from <br />receipt of Buyer's notice to notify Buyer whether Seller agrees to cure the Title Objections before <br />closing ( "Cure Notice "). If Seller does not timely give its Cure Notice or timely gives its Cure <br />Notice but does not agree to cure all the Title Objections before closing, Buyer may, within five <br />days after the deadline for the giving of Seller's Cure Notice, notify Seller that either this contract <br />is terminated or Buyer will proceed to close, subject to Seller's obligations to resolve the items <br />listed in Schedule C of the Title Commitment, remove the liquidated liens, remove all exceptions <br />that arise by, through, or under Seller after the Effective Date, and cure only the Title Objections <br />that Seller has agreed to cure in the Cure Notice. At or before closing, Seller must resolve the <br />items that are listed on Schedule C of the Title Commitment, remove all liquidated liens, remove <br />all exceptions that arise by, through, or under Seller after the Effective Date of this contract, and <br />cure the Title Objections that Seller has agreed to cure. <br />G. Inspection Period <br />1. Review of Seller's Records. Seller will deliver to Buyer copies of Seller's Records <br />specified in Exhibit C, or otherwise make those records available for Buyer's review, by the <br />deadline stated in section A.7. <br />2. .Envy onto the Property. Buyer may enter the Property before closing to inspect it, <br />subject to the following: <br />a. Buyer may not interfere in any material manner with existing operations or <br />occupants of the Property; <br />b. Buyer must notify Seiler in advance of Buyer's plans to conduct tests so <br />that Seller may be present during the tests; <br />C. if the Property is altered because of Buyer's inspections, Buyer must, to <br />
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