6.C.(2) Resolution No. 2500 - Laserfiche WebLink

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WHEREAS, the City desires to accept the Owner's counteroffer and the parties desire to complete the transaction pursuant to the terms and conditions set forth in this agreement. NOW, THEREFORE, the Parties hereby agree and represent as follows: 1. The Owner hereby agrees to sell the Property to the City for Forty Six Thousand and 00/100 Dollars ($46,000.00) (the "Purchase Price"), subject to the following terms: (a) The City and the Owner shall close the transaction on a date (the "Closing Date") that is no later than ninety (90) days of the date of this Agreement at Meridian Title Company, South Bend, Indiana 46601 (the "Title Company') or on such date and time or at such place as mutually agreed upon by the parties provided that such closing shall occur no later than December 31, 2008. (b) The Owner shall continue to own and use the Property until the Closing Date and hereby co~~enants that the Owner will not alter the condition of the Property. Additionally, the Owner may not release any substances, hazardous or otherwise on or near the Property, or accumulate any other materials, goods, refuse or debris on or near the Property. The Owner further may not salvage or remove any fixtures or systems from the Property, unless specifically authorized by the City in writing. If the Owner takes any action in violation of this subsection (b), at closing the City may withhold a portion of the Purchase Price to pay for any repairs or clean up necessary to restore the Property to its condition as of the date of this Agreement. The Owner shall be entitled to remove all of their personal property and appliances in an orderly manner consistent with all applicable law and regulations up to and wail the Closing Date. (c) At closing, the Owner shall dcli~~er to the City a warranty decd in the form attached hereto as Exhibit B providing for the conveyance of the Property free and clear of all liens, mortgages and encumbrances. If necessary, the sale proceeds shall be applied to satisfy any mortgages, encumbrances, or due and owing taxes remaining on the Property as of the Closing Date. all taxes accrued on the Property prior to closing shall be the sole responsibility of the