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HomeMy WebLinkAbout2003 NS ERC - Clyde W. Vincent and Louise A. Vincent Estates Approval of Contract to Purchase Property - Prepared by: Geoffrey E. Gledhill ~ ' Return to: Geoffrey E. Gledhill, P.O. Drawer 1529, Hillsborough, NC 27278 STATE OF NORTH CAROLINA COUNTY OF ORANGE OFFER TO PURCHASE AND CONTRACT THIS OFFER TO PURCHASE AND CONTRACT ("Agreement"), made and entered into this the day of __ 2002~by and .between The Estate of Louise A..Vin.cent, having an address of P.O. Box 100, Hillsborough, North Carolina 27278, hereafter called "Seller", and the COUNTY OF ORANGE, NORTH CAROLINA, a body politic and corporate, a political subdivision of the State of North Carolina, having an address of P.O. Box 8181, Hillsborough, North Carolina 27278, hereafter called "Buyer"; WITNESSETH: Buyer hereby offers to purchase and Seller, upon acceptance of said offer, agrees to sell and convey, all of that plot, piece or parcel of real property located in Orange County, North Carolina, which said real property is more particularly described as follows: The approximately 12.22-acre tract of land identified on the deed from Patricia Riley to The Estate of Louise Vincent,~which deed is recorded at Hook 2253, Page 196, Orange County Registry. The Property is further identified as Orange County P.I.N. 9868-04-5156 and has an Orange County tax map reference.of 2.34..3. 1 Vincent Estate Property s THE TERMS AND CONDITIONS OF THIS AGREEMENT AR.E AS FOLLOWS: 1. PURCHASE PRICE: The purchase price for the Property shall be FIFTY-FOUR THOUSAND AND 00/100 DOLLARS ($54,000) plus any amount due seller as the result of the calculation made in Section 4(c) of this Agreement. The purchase price shall be paid by payment in cash at the closing. 2. TITLE: Title will be delivered to Buyer at closing by a General Warranty Deed made to the County of Orange, North Carolina, which shall be fee simple marketable title, free of liens, encumbrances, easements, restrictions, rights and conditions, including; but 'not limited to, any promissory note, mortgage, deed of trust, real .estate contract, right of first refusal, or option to buy, other than current property ta.~tes and rights, reservations, covenants, easements, conditions, and restrictions of record as of the effective date of this Agreement that do not materially affect the value of the Property or unduly interfere with Buyer's intended use of the Property, and those exceptions approved in writing by Buyer ("Permitted Exceptions"). The description of the Property that will be used in the deed from the Seller to the Buyer will be obtained from a survey of the Property to be obtained and paid for by the Buyer. 2 3. REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER; Seller makes the following representations and warranties to Buyer as of the effective date of this Agreement and again as of the Closing Date: (a) Title. At the Closing Date, Seller shall have. good, marketable, and indefeasible fee simple title to the Property subject only to the Permitted Exceptions, and Seller is aware of no other matters that adversely affect title to the Property. (b) Leases. There are no leases, licenses, or other agreements granting any person or persons the right. to use or occupy the Property or any portion thereof. (c) motions. Seller has not granted any options nor committed nor obligated themselves in any manner whatsoever to sell the Property or any portion thereof to any party other than Buyer. (d) Construction Liens. To the extent any. improvements have been made or will. .be made to the Property prior to the Closing Date that might form the basis of mechanics' or materialmen's liens, Seller agrees to keep the Property free front such liens that might result and to indemnify, defend, and hold Buyer harmless from any and all such liens and alI attorneys' fees and other costs incurred by reason thereof. 3 (e) Reports.. All Reports, certificates, and other documents containing factual information delivered by Seller, or by Seller's agents in connection with this Agreement, are and shall be, to the best of Seller's knowledge, true and complete and shall dot contain any untrue statement of material fact or omit to state any material fact, the disclosure of which is necessary to make the statements contained therein and in this Agreement, in light of the circumstances under which they are made, not misleading. (f) Inspections and Environmental. (1) Seller has no knowledge of any underground storage tanks being located on the Property. Buyer agrees to perform a Phase I Environmental Assessment of the Property (hereafter "the Phase I"), at Buyer's expense. Should the Phase I disclose that one or more underground storage tanks are located on the property, a condition precedent to Buyer's obligation to close on the sale of the Property is that the following be done at Seller's expense: (Z) any underground storage tanks located on the Property be removed, (2) all discharged fuel oil or other contaminants be removed from the Property, (3) a copy of a certificate demonstrating removal and clean-up be provided to Buyer, c/o Pamela Jones, Director of Purchasing and Central Services, 132 E. King Street, Hillsborough, North Carolina 27278, as soon as the certificate 4 is available and (4) the original of the certificate be provided to Buyer at the closing. (2) Seller warrants and represents to Buyer as follows: (i) Seller has no knowledge of, and after reasonable inquiry no reason to believe: (A) that any industrial use has been made of the Property, (B) that the Property has been used for the storage, treatment or disposal of chemicals or any wastes or .materials that are classified by federal, State or local laws as hazardous or toxic substances, or (C) that any manufacturing, landfilling~or chemical production has occurred on-the Property. (ii) The Property is in compliance with all federal, State .and local environmental laws and regulations, including, but not limited to, the Comprehensive Environmental Response, Compensation and Liability Act of 2980 ("CERCLA"), Public Law No. 96-510, 94 Stat. 2767, 42 USC 9601 et seq., and the Superfund Amendments and Reauthorization Act of 1986 ("SARA"), Public Law No. 99-499, 100 Stat. 1613. (iii) Seller has fully disclosed to Buyer the existence,. extent and nature of any hazardous materials, substances, wastes or other environmentally regulated substances (including without limitation, any materials containing S asbestos), in or under the Property or. use in connection therewith. (iv) Seller will promptly send to~Buyer copies of any citations, orders, notices or other material, governmental or other, communication received with respect to any hazardous materials, substances, wastes or other environmentally regulated substances affecting the Property. (3) Seller shall indemnify and hold Buyer harmless from and against (i) any and all damages, penalties, fines, claims, liens, suits, liabilities, costs (including clean-up costs), judgments and expenses (including attorneys', consultants' or experts' fees and expenses) of every kind and nature suffered by or asserted against Buyer as a direct or indirect result of any warranty or representation made by Seller in subsection (f) herein being false or untrue in any material respect, or (ii) any requirement under any law, regulation or ordinance, local, State or federal, which requires the elimination or removal of any hazardous materials, substances, wastes or other environmentally regulated substances by Buyer or Seller or any transferee or assignee of Buyer or Seller. (4) Should the Phase Y disclose the existence on the Property of any hazardous materials, substances, wastes or other environmentally regulated substances (including without limitation, any materials containing asbestos), a condition 6 io precedent to Buyer's obligation to close on the sale of the Property is that 'the following be done at Seller's expense: (i) any such material or substance located on the Property be removed, (ii) other found contaminants be removed from the Property, (iii) that a copy of a certificate demonstrating removal and clean-up be provided to Buyer, c/o Pamela Jones, Director of Purchasing and Central Services, 132 E. King Street, Hillsborough, North Carolina 27278, as soon as the certificate is available and (iv).that the original of the certificate be provided to Buyer at the closing. (5) Seller's obligations under this Section shall survive the closing and continue in full effect notwithstanding receipt of the purchase price. (g) Representations/Warranties. All representations and warranties contained in this Agreement are true and correct as of the date of execution of this Agreement and will be true as of the Closing Date and shall survive Closing and execution of the Deed and shall not be merged therein. 4. SETTLEM$N'T CHARGES: (a) Seller shall pay for the preparation of a deed, for the preparation and recording of all documents necessary to convey marketable fee simple title free of liens and encumbrances, and for the excise tax required by law. (b) Buyer shall pay for recording the deed. 7 (c) Ad valorem taxes on the Property, if any, for the calendar year in which the closing occurs shall be paid by Seller. The credit for pro-rated ad valorem taxes on the Property that would be due Seller if Buyer were not a North Carolina local government shall be added to the purchase price as provided in Section 1 of this Agreement. Seller shall pay any Orange County ad valorem taxes vn personal property of Seller for the entire year of the closing. Seller shall pay all deferred taxes. and any tax penalties including late. listing penalties. (d) Buyer shall pay for the entire cost of the survey of the Property. 5. CONDITIONS: (a) Seller agrees to allow Buyer access to the Property for the purpose of inspecting, testing and analyzing the Property at any time prior to the closing of the purchase of the Property. (b) On request of Buyer, Seller agrees to exercise Seller's best efforts to deliver to Buyer, as soon as reasonably possible following the signing of this agreement, copies of any title information in possession of or available to Seller,. including, but not limited to, title insurance policies, attorneys opinions on title, surveys, covenants, deeds, notes, and deeds of trust and easements relating to the Property. 8 (c) Any and all deeds of trust, liens or other charges against the Property not assumed by Huyer. must be paid and cancelled by Seller prior to or at closing. (d) A condition precedent to Buyer's obligation to close on the sale of the Property is that Buyer's Board of Commissioners must formally approve the purchase of the Property by action in an open public meeting as provided by law. 6. MISCELLANEOIIS PROV25IONS: (a) This Agreement embodies and constitutes the entire understanding between the parties with respect to the transaction contemplated herein and all prior agreements, understandings, representations and statements, oral or written, are merged into this Agreement. Neither this Agreement nor any provision hereof may be waived, modified, amended, discharged or terminated except by an instrument signed by the. party against whom the enforcement of such waiver, .modification, amendment or discharge or termination is sought, and then only to the extent set forth in such instrument. (b) This Agreement shall be governed by and construed in accordance with the laws of the State of North Carolina, without, however, giving effect to any principle of conflicts of law. 9 i~ (c) The captions in this Agreement are inserted for convenience of reference only and in no way define, describe or limit the scope or intent of this Agreement or any of the provisions hereof. (d) Any provision herein contained which by its nature and effect is required to be observed, kept or performed after the Closing Date, shall survive the closing and remain binding upon and for the benefit of the parties hereto, their heirs, personal representatives, successors or assigns, until fully observed, kept or performed.. (e) This Agreement shall be binding and shall inure to the benefit of the parties hereto and their respective beneficiaries, heirs, personal. representatives, successors and permitted assigns. (f) As used in this Agreement, the masculine shall include the feminine and neuter, and vice versa; the singular shall include the plural and the plural shall include the singular, as the context may require. (g) Any provision contained in this agreement which by its nature and effect, if required to be observed, kept or performed after closing shall survive the closing and shall remain binding upon and for the benefit of the parties hereto until fully observed, kept or performed. 20 i~- 7. CLOSING: All parties agree to execute any and all .documents and papers necessary in connection with the closing and transfer of title to the Property in Hillsborough, North Carolina within 45 days of the Final Court Approval of the sale as provided by law ( ~~closing Date") . 8.. POSS835ION: Possession of the Property shall be delivered at closing. IN WITN833 WHEREOF, the Seller has hereunto executed this Offer to Purchase and Contract the day and year written above, and Orange County has caused this instrument to be signed by its agent the day and year written above. SELLER: Lsg.ocangceouncy~vlaaentaYLCOyuiena] THE ESTATE OF LOUISE A. VINCENT By BUSCER : ORANGE C LINTY, NOR CAROLINA By: of y Gledhill, Ag or Orange County 21