Res 1994-037 - Laserfiche WebLink

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.. . lO5 Office of the City Manager March 1, 1994 I 1 Mike Wish Bradfield Properties 11324 Sir winston San Antonio, TX 78216 Dear Mr. Wish: This letter, upon countersignature below by an authorized officer of Red Line Burgers, will constitute an agreement for the extension of the closing deadline from February 15, 1994 to April 15, 1994 for the sale of Lots 1 and 2, Rio vista Terrace Addition No. 1, in San Marcos, Hays County, Texas by the City of San Marcos to Red Line Burgers. The terms of this extension are as ~ollows: 1. Red Line Burgers must submit to my office by March 4, 1994 a countersigned copy of this letter, together with a check in the amount of $2,400.00, which, along with the original $2,400.00 deposit, will apply to the purchase price but will be retained by the city if the sale does not close by April 15, 1994. 2. Red Line Burgers must submit a copy of the title commitment it obtains on the property to Mark Taylor, city Attorney by March 11, 1994. . , 3. Red Line Burgers must submit in writing any objections it has to any exceptions to title shown on the title commitment to Mark Taylor, City Attorney, by March 18, 1994. 4. Red Line Burgers must submit a legal description to Mark Taylor, city Attorney, by March 25, 1994 in the form of either a metes and bounds description of Lots 1 and 2, Rio vista Addition which excludes the right-of-way areas to be retained by the city, or a metes and bounds description of the right-of- way areas to be retained by the city. 5. If any of the deadlines in items 2 through 4 above are not observed by Red Line Burgers, the sale may be cancelled by written notice from me to you, and the city shall retain all amounts deposited as liquidated damages. 630 East Hopkins. San :\farcos, Texas 78666 . 512/353-4444 . FA-X 512/396-4656