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Res 2018-201/approving a Real Estate sales contract with Life Style Development, L.L.C. for the sale of approximately 29 acres of city land commonly known as the “Leah” Tract near IH-35 and Cottonwood Parkway for a price of $3,114,317.15
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Res 2018-201/approving a Real Estate sales contract with Life Style Development, L.L.C. for the sale of approximately 29 acres of city land commonly known as the “Leah” Tract near IH-35 and Cottonwood Parkway for a price of $3,114,317.15
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11/15/2018 3:25:51 PM
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10/23/2018 3:20:58 PM
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Contract
Number
2018-201
Date
10/16/2018
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available at law or in equity. If Seller fails to perform any of its obligations tinder this contract that <br />survive closing, Buyer will have all rights and remedies available at law or in equity unless <br />otherwise provided by the Closing Documents, <br />3. Bina ers Dcfaull; Refnedies be, <br />,16rc Closing, If Buyer fails to perform any of its <br />obligations under this contract ("Buyer's Default"), Seller may terminate this contract by giving <br />notice to Buyer on or before closing and have the Earnest Money paid to Seller. The foregoing <br />constitutes Seller's sole and exclusive remedies for a default by Buyer before closing. <br />4. Btvers Dqftndl; Remedies after Closing. If Buyer falls to perform any of its <br />obligations under this contract that survive closing, Seller will have all rights and remedies <br />available at law or in equity unless otherwise provided by the Closing Documents. <br />5. LiqiddaleclDani ages. The parties agree that just compensation for the harm that <br />would be caused by a default by either party cannot be accurately estimated or would be very <br />difficult to accurately estimate and that Buyer's Liquidated Damages or the Earnest Money and <br />Seller's Additional Liquidated Damages are reasonable forecasts of just compensation to the <br />nondefaulting party for the harn) that would be caused by a default, <br />F. Attorneys Fees. If either party retains an attorney to enforce this contract, the <br />party prevailing in litigation is entitled to recover reasonable attorney's fees and court and other <br />costs. <br />M. Miscellaneous Provisions <br />1. Notices. Any notice required by or perri-titted under this contract must be in <br />writing. Any notice required by this contract will be deemed to be delivered (whether actually <br />received or not) when deposited with the United States Postal Service, postage prepaid, certified <br />471 <br />mail, return receipt requested, and addressed to the intended recipient at the address shown in this <br />contract. Notice may also be given by regular mail, personal delivery, courier delivery, facsimile <br />transmission, or other commercially reasonable rneans and will be effective when actually <br />received, provided that (a) any notice received on a Saturday, Sunday, or national holiday will be <br />deemed to have been received on the next clay that is not a Saturday, Sunday, or national holiday <br />and (b) any notice received after 5:00 P.M. local time at the place of delivery on a day that is not a <br />Saturday, Sunday, or national holiday will be deemed to have been received on the next day that <br />is not a Saturday, Sunday, or national holiday, Any address for notice may be changed by not less <br />than ten days' prior written notice delivered as provided herein, <br />2, Entire Agreemew, This contract, its exhibits, and any Closing Documents <br />delivered at closing are the entire agreement of the parties concerning the sale of the Property by <br />Seller to Buyer. There are no representations, warranties, agreements, or promises pertaining to <br />the Property or the sale of the Property by Seller to Buyer, and Buyer is not relying on any <br />statements or representations of any agent of Seller, that are not in those, documents. <br />A nciidmenf, This contract may be amended only by ,in instruirient in Writing <br />,signed by the parties. <br />
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