HomeMy WebLinkAboutKelly Station Purchase Agreement • • ..
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Real Estate Purchase Agreement
This Agreement, made and executed this ,j day of November, 2011, by Nick
Jones Construction Inc. (hereinafter referred to as "Seller "), and the City of Jeffersonville
Sanitary Sewer Board (hereinafter referred to as `Buyer"),
WITNESSETH:
The undersigned Buyer hereby agrees to purchase from Seller and Seller agrees to
sell to Buyer the land and improvements known as "Kelly Station" located and more
particularly described as follows:
SEE ATTACHED EXHIBIT "A"
1. PURCHASE PRICE; Buyer agrees to pay to Seller agrees to accept as the
purchase price for said real estate the sum of: Two Hundred Thousand Dollars
(5200,000.00).
2. PAYMENT OF PURCHASE PRICE AT CLOSING: The purchase prize:
shall be paid in cash or certified funds by the Buyer at the closing when the Warranty
Deed is delivered to Buyer.
3. REAL ESTATE TAXES: The real estate taxes and any other
assessments shall be pro-rated between Buyer and Seller to the date of closing. If at the
time of closing the tax bill for the real estate for the succeeding year has not been issued,
taxes payable by either party shall be computed based on the most recent tax bill
available at the time of closing.
4. TITLE EVIDENCE: This Agreement is contingent and conditional upon
a title examination, to he approved by the Buyer at the Buyer's full satisfaction, of said
real estate and contingent and conditional upon fee simple title being conveyed to the
Buyer free and clear of all liens and encumbrances. If the Seller is unable to convey fee
simple title free and clear of all liens and encumbrances then this Agreement shall be
terminated and Buyer shall be returned any funds that may have been paid to the Seller.
Seller shall also be responsible for the costs of the title examination and for the costs of
the Warranty Deed.
5. COURT COSTS AND ATTORNEY FEES IN EVENT OF DEFAULT
In the event that litigation is commenced regarding this Agreement, and a Court of
competent jurisdiction subsequently determines that one of the panics has defaulted, said
defaulting party agrees to pay, in addition to any damages that might be awarded, the
reasonable attorney fees and court costs of the prevailing party.
6. GENERAL AGREEMENT OF THE PARTIES:
a. All terms and conditions of this Agreement are contained herein, and no
verbal agreements shall be binding upon the parties.
b. All covenants hereof shall be executed to and be binding upon the parties,
their successors, heirs and assigns.
c. This Agreement shall be construed pursuant to the laws of the State of
Indiana.
7. CLOSING DATE: The closing shall take place within 3D days after
execution of this Agreement. Seller shall grant a reasonable extension of the closing date
if' such an extension is due to no fault of the Buyer.
IN WITNESS WHEREOF, the undersigned Seller and Buyer have hereunto
executed this Agreement on the date first written above.
SELLER:
Nick Jones Construction Inc.
By:
Pr iden
BUYER:
Jeffersonville Sanitary Sewer Board
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