Res 1981-071 - Laserfiche WebLink

Home Browse Search

103 acre tract shall be closed in accordance with the pro- visions of Pages 2-3 of this agreement. (2) The exchange must be completed on or before 120 days from the date of the Optionee's exercise of the option to purchase the 103 acres. (3) In the event, that Optionor, at Optionor's sole cost, expense and initiative, selects a tract to be purchased by Optionee and exchanged for Optionor's 103 acre tract that is the subject of this agreement, then Optionee's sole obligation will be to purchase the property selected by Optionor free and clear of all encumbrances, except those expressly approved in writing by Optionor and upon the terms set out in the written request by Optionor to-Optio.nee at a total cost to Optionee not to exceed an amount equal to $1,450.00 per acre times the actual acreage determined by current survey of Optionor's 103 acre tract, which property selected by Optionor will be at Optionor's written request, -- acquired by Optionee if available upon the terms set out in the written request by Optionor, possession to be given at the time of exchange of Optionor's interest in Optionor's 103 acre tract with a simultaneous closing of the purchase of the property selected by Optionor and the exchange of the property selected by Optionor for Optionor's 103 acre tract 1. under the terms of this agreement. (4) In the event the purchase price of the property selected by Optionor together with the closing costs for the purchase of the property selected by Optionor is less than the total price to be paid by Optionee to 3 Optionor for Optionor's 103 acre tract under the terms of this agreement, then Optionee shall pay to Optionor at i ?. closing the net difference between the purchase price which would have been paid to Optionor for the 103 acres under the terms of this agreement and the purchase price and closing costs paid by Optionee for the exchange property under the terms of this agreement. Page 6 1 1 1