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Res 2018-142/approving a contract with the San Marcos River Foundation, Inc. for the City to purchase approximately 249 acres of land, commonly referred to as the “Millican Tract,” in the vicinity of Palomino Lane and Country Estates drive for a price of
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Res 2018-142/approving a contract with the San Marcos River Foundation, Inc. for the City to purchase approximately 249 acres of land, commonly referred to as the “Millican Tract,” in the vicinity of Palomino Lane and Country Estates drive for a price of
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9/25/2018 10:38:56 AM
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8/24/2018 4:46:32 PM
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Resolutions
City Clerk - Type
Contract
Number
2018-142
Date
8/7/2018
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Buyer's Liquidated Damages: $1,000.00 <br /> Seller's Additional Liquidated Damages: $1,000.00 <br /> County for Performance: Hays County, Texas <br /> A. Deadlines and Other Dates <br /> All deadlines in this contract expire at 5:00 P.M. local time where the Property is located. <br /> If a deadline falls on a Saturday, Sunday, or national holiday, the deadline will be extended to the <br /> next day that is not a Saturday, Sunday, or national holiday. A national holiday is a holiday <br /> designated by the federal government. Time is of the essence. <br /> 1. Earnest Money Deadline: One day after execution of this contract by both <br /> parties. <br /> 2. Delivery of Title Commitment: Two days after the Effective Date <br /> 3. Delivery of Survey: N/A <br /> 4. Delivery of current grazing lease: Delivered on July 23, 2018 <br /> 5. Delivery of legible copies of instruments referenced in the Title Commitment: <br /> Two days after the Effective Date <br /> 6. Delivery of Title Objections: Two days after delivery of the Title Commitment, <br /> and legible copies of the instruments referenced in them <br /> 7. Delivery of Seller's Records as specified in Exhibit C: Two days after the <br /> Effective Date <br /> 8. End of Inspection Period: N/A <br /> 9. Closing Date: August 13, 2018, subject to Buyer's rights to extend the Closing <br /> Date or terminate this contract under other terms in this contract. <br /> B. Closing Documents <br /> 1. At closing, Seller will deliver the following items: <br /> General Warranty Deed <br /> IRS Nonforeign Person Affidavit <br /> Evidence of Seller's authority to close this transaction <br /> 2 <br />
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