HomeMy WebLinkAbout1875 (a) The offer Is by a principal, Identified In the offer, and not an
agent acting on behalf of an undisclosed principal and, If principal shall !~e a
party or entity related to or affiliated with the First Party or with respect
to which the First Party has any direct or Indirect ownership or control,
same shall be disclosed; and
(b) The offer is accompanied by a certified check of the
prospective purchaser as an earnest money deposit towards the proposed
purchase price.
3. Procedure. in the Offering Notice, the First Party shall offer (the
"Sale Offec") to the Second Party the right to purchase a!! of the.interesi of the
First Party in the Parcel at the same price and subject to the same terms and
conditions as set forth in said offer, and the First Party shall, submit with the
Offering Notice a true copy of said offer. The Second Party shall have fifteen (15)
days after actual receipt by it of the Sale Offer within which to accept the Sale
Offer by giving written ratlce of the acceptance to the First Party, accompanied
by a cashier's check or certified check for the amount equal to the deposit as set
forth in the offer received by First Party from such third party, which shall be
applied to the purchase price. Within seven (7) days thereafter, the parties shall
enter into a forma! contract of sale containing ail terms of the original offer made _
to First Party from such third party, except as the parties may otherwise mutually
agree upon, and, if accepted, the. closing shall take place within sixty (60) days
thereafter. If, by the end of such fifteen (15) day period, the Second Party has not
accepted the offer, the Sale Offer shall terminate and the First Party shall have -
the right to sell the subject parcel pursuant to the original offer from the third
party (subject to all of the terms and conditions thereof); provided, however, that
in the event the sale to the third party shall not take place within one hundred
twenty (120) days after the termination of the Sale Offer, the right to sell to such -
third party shall terminate and the provisions of this Agreement shall thereupon
reattach to the subject Parcel.
E 4. Failure to Notify. Failure of the Second Party to ratify the First
Party of its election to purchase the subject Parcel within the specified time period
~ shall be deemed an election by such Second Party not to purchase the subject
Parcel.
S. All notices required to be given under this Agreement shall be given
by registered or certified mail, return receipt requested, as follows:
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