HomeMy WebLinkAbout1055 ADDENDUM # TWO (Continued) ALMA D. DAVIS
(Buyer)
Sta e Three - (Remainder) 13. 93 Acres
Transfer of Deeds - Up to 36 months after closing of 5.01 acres.
$15, 000. 00 Cash at Closing
68, 580. 00 Purchase Money Mortgage by Sellers @~l% payable
~ - ~~~3n b~rel~re~-(~8) e ual ual payments, plus interest.
~ ~ C. '~11~W '7
$83, 580. ~0 Total Purchase Price
Figured on a basis of $6, 000. 00 per acre.
PURCHASE MONEY
CASH MORTGAG E ~ _
Stage # One 000. 00 ~28, 000. 00
Stage # Two 13, 527. 00 54,1 ~8. 00
Stage # Three 15, 000. 00 68, 580. 00
$ 35, 527. 00 $15~, 688. 00
Total Cash $ 35, 527. 00
Total Mortgages 150, 688. 00 .~~C
. $ 186, 215. 00
20. Provided further that the "Transfer of fleed" called for at Stage T ee
does not take place at no fault of Buyer-then the time called ~ convert
the contract for Deed as provided in paragraph 15 De. 5 shal~ the option
of the Buyer Uut in no case shall said conversion take place Iater than 36
months from first closing.
; 21. This agreement is further contingent upon the fact as pertains to the
purchase herein describes as Stage One that said parcel "B" is zoned at
E the time of the first "Transfer of the Deed", as contemplated herein, as
~ Commercial and Business usuage such that the appropriate governmental
~ bodies concerned will allow the Buyer to use the said parcel "B" as she
¢ intends ~vhich is to temporarily install a Trailor Office (for a period of 12
~ to 18 months) prior to the construction of permanent buildings(s) and/or
; other Commercial or Business properties. Furthermore as pertains to the
~ purchases herein describes as Stage Two and Stage Three this agreement
~ is contingent upon the Stage Two parcel (parcel "C") either being zoned
~ ~ Commercial and Business or Seller allows the Buyer to provide said
~ zonning through the rezonning process, as described belo~v, prior to the
~ closing on this parcel "C" and Seller additionally allows for heretofor
mentioned "rezonning process" as delineated below, to a11ow Buyer to
obtain zoning from the appropriate governing body allowing for a proposed
density per acre of not less than 18 (eighteen) units per acre as pertains
g to Stage Three parcel (remaining acres): Buyer, upon ascertaining that
the land is suitable for Buyer's purpose, shall immediately commence to
utilize all of Buyer's professional knowledge and experience and shall file
~ all necessary papers and take all reasonable steps in order to obtain such
~
zoning. Buyer warrants he will promptly furnish to Seller copies of al
~ documents submitted to governmental bodies pursuant to this provision and
:u Seller agrees when necessary to join in such application subject to his
- reasonable approval. Seller shall cooperate with Buyer and shall aid Buyer
in obtaining said zoning; provided, however, Seller shall not be required to
expend any sums of money under this provision and Buyer shall pay all
- expenses in connection herewith. Seller further agrees to enter into any
plats, declarations of restrictions, dedications of easements or declara-
" tions of condominium (subject to his reasonable approval) i~ permit develop-
~f inent of the subject property. Additionally, it is hereby agreed that this
~;-~t contract is contingent upon Buyer's ability to obtain se~ver and ~vater permit
' within a reasonable period of time simultaneously with rezoning process,
I~s described above. Buyer shall commence to utilize all of Buyer's
~9
~ professional knowledge and experience and shall file all necessary papers
~ and take all reasonable steps in order to obtain said sew~ and water
~ermit. However, in no case will the closing date and/or the date of the
'Transfer of the Deed" be extende~ beyond the date specified in this
contract. Buyer will have to make these determinations within said
_ period, and promptly notify Seller in writing if he has any objection
:a~
_ concerning zoning and/or sewer and water permits ~r~ ~~/N .
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