11-23-15 Agenda, Packet & Committee Meeting Notice

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(d.) Purchasers will receive a notification letter with their approval or disapproval status. (3) Memorandum of Understanding. Eligible participants shall sign a Memorandum of Understanding (MOU) and agree to perform required maintenance on said adjoining property. Terms of the MOU shall include the following: (a) Grass cutting and trimming will be required once every two weeks beginning on March 15th and continuing until October 15th (b) Other required maintenance shall include, raking leaves, picking up trash and debris and properly disposing of the same. Participants can earn up to 100% of the purchase price of the City Property through credits earned for the maintenance described above. (c)The schedule of credit amounts as follows: (i.) Lawn mowing: $25 per cut reimbursement of$375.00 per year. (ii.) Leaf removal: $25 per removal, maximum of$75 per year. (iii) The allowed time a property may be in the program is a maximum of three (3) years (d.) At any time during the MOU, purchasers will have the option to pay the outstanding portion of the purchase price not covered by their maintenance credit, in cash, and receive the property. (e.)The MOU will become null and void if the Purchaser fails to adequately perform the proposed maintenance to the City Property and the administrative fee will be forfeited. (f.)The maximum amount that can be credited at the time of conveyance is$1,350.00. (g) For the work to be conducted under the MOU, Purchaser is an independent contractor and waives and releases the City of Memphis, TN all of its departments and divisions and all of its employees, agents or other representatives from any loss, claim, cause of action, damage, or liability whatsoever, whether without limitation strict or absolute liability in tort or by statue imposed, charge, cost or expense, including without limitation, attorneys' fees to the extent any damage or loss to property or injury or death resulting in any manner from the MOU,Application,or exercising the rights and obligations therein. (h) Purchaser agrees to indemnify the City of Memphis,TN, all of its departments and divisions and all of its employees,agents or other representatives against any monetary award, both compensatory and punitive,or equitable relief by a judge or jury that may result from damages or loss to persons or property sustained as a result of the MOU,Application, or exercising the rights and obligations therein. (i) Purchaser shall not assign, lease or otherwise transfer any rights under the MOU,without the written consent of the City of Memphis, Department of General Services and City Council.