Res 2010-082 - Laserfiche WebLink

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Ref: Old City Hall purchase and sale of the Property within 30 days having the same essential terms as the bona fide offer or any other mutually agreed terms and subject to the requirements of paragraph 3, below. b. Solicitation of Offers to Purchase If Grantee intends to sell the Property by soliciting bids or offers to purchase other than in response to a prior bona fide offer to purchase as provided above, Grantor shall notify Grantee of such intent to sell. The notice to Grantee shall contain any commercially reasonable terms under which Grantor would sell the Property if any such terms have been established by Grantor. Within 30 days after Grantee receives the notice, Grantee shall notify Grantor of Grantee's desire to make an offer for the purchase of the Property and requesting an opportunity to negotiate with Grantor. Within 30 days after Grantor receives notice of such request to negotiate, the parties shall schedule a meeting to be convened within 30 days after Grantee's receipt of the initial notice to negotiate the terms and conditions for the sale of the Property from Grantor to Grantee. Negotiations under this paragraph shall be conducted in good faith. Within 60 days after the conclusion of the negotiations, Grantee shall submit a final offer in writing for the purchase of the Property to Grantor. Within 90 days after Grantor receives such final offer to purchase, Grantor shall notify Grantee that it either accepts or rejects such offer. 2. Failure to Exercise Right of First Refusal If Grantee fails to provide notice of its intent to exercise its rights and option to purchase the Property under this agreement, this agreement shall be of no further force and effect and Grantor shall be have no further obligation to Grantee with respect to the Property. In such event, upon request of Grantor, Grantee shall immediately execute such release or instrument reasonably requested by Grantor releasing the Property from the encumbrances of this agreement. 3. Subject to Applicable Laws All terms and conditions of any agreement for the sale of the Property between the parties shall be subject to any and all requirements under applicable laws, including, but not limited to, the requirements of the Texas Local Government Code, the Texas Open Meetings Act and similar laws. 4. Notice All notices required herein may be provided by certified mail, return receipt requested, e -mail or hand- delivery with signed confirmation receipt to: Grantor Texas State University -San Marcos Attn: Vice - President for Finance and Support Services 601 University Drive San Marcos, Texas 78666 Fax: 512.245.2033 Email: wn02 @txstate.edu Grantee City of San Marcos Attn: City Manager 630 East Hopkins San Marcos, Texas 78666 Fax: 512.396.4656 E -mail: rmenchaca @sanmarcostx.gov