Res 2004-097 - Laserfiche WebLink

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238 ~ July 20, 2004 2198-50 Mr. David Bissett The City of San Marcos 600 Kaliche Road Wimberley~ Texas 78676 Dear Mr. Bissett: This letter ("Agreement") confirms our understandings covering the possible sate by Union Pacific Railroad Company ("Seller") to The City of San Marcos ("Buyer") of Seller's interest in certain real property ("Properqy") in San Marcos, Hayes County, Texas. The undersigned will recommend to Seller's Management a sale of the Property on the following terms and conditions: 1. Description of Properly: The Property is approximately 1.467 acres more or less as shown on the print attached hereto as Exhibk A and made a part hereof. The legal description of the Property will be determined by Seller from existing deed and tkle records, if possible. Jif a survey is required, it will be at the sole cost and expense of Buyer, 1.2. Before finatizkng any survey, Buyer shall submit the survey to Seller for review and approval. Buyer shall deliver a certified copy of the completed survey to Seller within thirty (30) days ("Survey Period"). Delay in obtakning or furnishing the survey to Seller shall in no event give Buyer the right to extend the Closing Date (as defined in Section 8). 2. Sale Price: The sale price ("Sale Price") for the Property shall be Ninety Five Thousand Eight Hundred Fifty Three and 78/100tbs Dollars ($95,853.78). 2.2. The Sale Price is computed as follows: 63,902.52 Square feet x $1.50 per square feet = $95,853.78. 2.3. The Sale Price will be adjusted on the basis set forth in Section 2.2 if the area of the Property, as determined by Seller's Senior Manager Engineering Services or his authorized representative, or as determined by the survey, differs from the area set forth in Section 1.1. Real Estate UNION PACIFIC RAILROAD 1800 F~rnam Street, Omaha, Nebraska 68102 t:x. (402) 997-3601