Res 1998-185 - Laserfiche WebLink

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92 September 14, 1998 Ernest and Sally Cummings 1707 Airport Highway 21 San Marcos, TX 78666 Dear Mr. and Mrs. Cummings: This letter, upon your countersignature below, will be an agreement between the City of San Marcos and you for the City's acquisition of a utility easement across your property adjacent to the Union Pacific Railroad right-of-way, as depicted on the attached Exhibit "A". The purchase price for the easement is $30,000.00. The purchase price is payable in full in cash at closing. The City will pay to you $1,000.00 as earnest money within five days after execution of this agreement by both parties. The City understands and agrees that the easement will be conveyed and accepted as is, where is, without recourse against the Seller, except for the warranty of title contained in the deed. The City will obtain a survey ofthe easement by a licensed surveyor at the City's expense. The City will provide a copy of this survey to you. The survey description of the easement will be incorporated into this agreement as a revised Exhibit "A". The closing of the purchase shall be on or before November 30, 1998, at a time and place to be agreed upon by the City and you. At the closing, you will deliver to the City a deed conveying the Easement in the form attached as Exhibit B, with warranty of title, except for existing recorded easements and encroachments, and the City will deliver to you the purchase price, less the earnest money, in the form of a check If the City does not complete the transaction by the closing date, you will retain the earnest money as liquidated damages. If you fail to complete the transaction by the closing date, the City may terminate this agreement and receive a refund of the earnest money, or the City may enforce specific performance of this Agreement. The City and you acknowledge that this agreement results from an offer by the City in contemplation of condemnation of the Easement by the City. This Agreement contains the complete agreement between the parties and can be amended only by a written document signed by the parties. City Hall «I 630 East Hopkins'" San Marcos, Texas 78666 . 512/393-8150 " FAX 512/393-3983