HomeMy WebLinkAboutFOXFIELD PURCHASE SALE OF REAL ESTATE
STATE OF GEORGIA )
)
COUNTY OF RICHMOND )
AGREEMENT FOR THE PURCHASE AND
SALE OF REAL ESTATE
THIS A9~~~NT FOR THE PURCHASE AND SALE OF REAL ESTATE is dated
this ~~ October, 2006, and is made among Augusta, Georgia, a
political subdivision of the State of Georgia, hereinafter
referred to as the uCity", the Downtown Development Authority of
the City of Augusta, a public body corporate created and organized
pursuant to the Downtown Development Authorities Law (O.C.G.A.
~36-42-1, et seq.), herein referred to as the uSeller" and The
Foxfield Company, a Florida corporation, herein referred to as
the uPurchaser."
RECITALS:
A. Seller is currently or as of the date of closing (the
uClosing") by virtue of its impending purchase from the City
will be the owner of all of the fee simple interest in and to a
certain tract or parcel of land located in the State of Georgia,
County of Richmond and City of Augusta, as more particularly
described on uExhibit A" attached hereto and by reference made a
part of hereof, together with all road, utility and other
easements, rights-of-way and appurtenances thereto (the
uProPerty"). The Seller and the City have also agreed regarding
certain post-closing matters benefiting the ProPerty.
B. Seller has agreed to sell the Property to Purchaser arid'
Purchaser has agreed to purchase the same, subject to and upbn
the terms and conditions set forth in this Agreement. The Seller
and the City have agreed to Perform or to cause to be Performed,
as the case may be, the post-closing matters described herein
for the Purchaser, and the Purchaser desires that they do so as
a part of the consideration for the purchase of the ProPerty.
AGREEMENT:
NOW, THEREFORE, in consideration of the mutual covenants of
the parties herein contained and for other good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, the City, Seller and Purchaser agree as follows:
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1. Property: Seller agrees to sell and convey the ProPerty
to the Purchaser and Purchaser agrees to purchase the same from
the Seller pursuant to the terms and conditions of this
Agreement. Such conveyance shall include all rights,
privileges, easements and appurtenances appertaining to the
Property, incl uding but not lirni ted to all of Seller's right,
ti tle and interests in any adjacent streets, roads, alleys,
rights of way, condemnation awards, utility allocations,
beneficial agreements with the City and any governmental permits
or approvals.
2. Purchase Price and Deposi t: The purchase price to be
paid by the Purchaser to the Seller for the Property is the sum
of $1,850,000.00. The purchase price shall be paid as follows:
(a) Upon execution of this Agreement by Seller, Purchaser
shall deposit the sum of Five Thousand and no/l00 Dollars
($5,000.00) (the uEscrow Deposit") to be held in escrow by
Sherman & Hemstreet, LLC, Realtors, of Augusta, Georgia (the
uEscrow Agent") in escrow until Closing, subject to the
provisions relating to Escrow Agent in this Agreement. The
Escrow Deposit shall be applied to the purchase price at
Closing.
(b) The balance of the purchase price shall be paid in cash
or other immediately available funds at Closing.
3. Purchaser's Due Diligence: The Due Diligence period
described herein is to allow the Purchaser to investigate the
Property in all respects to enable the Purchaser to determine
wi thin its sole and absolute discretion that the Property is
suitable for the development plans of the Purchaser.
(a)Delivery of Documents: Seller shall deliver to Purchaser
within ten business (10) days after the effective date (as
herein defined) of this Agreement, copies of the following
documents, if any, which Seller has in its possession relating
to the Property: Seller's most current title insurance policies;
any boundary surveys and any topographic maps; the most recent
real estate tax bills and any subsequent proPerty reassessment;
copies of any and all governmental restrictions, regulations,
easements or requirements in the hands of the Seller which, to
Seller's knowledge, may affect the Property or its development.
(b) Physical Inspection: Seller hereby grants Purchaser and
its agents a license to enter the Property for the purpose of
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conducting surveys, physical inspections, soil, environmental
and other tests and examinations Purchaser may deem appropriate.
Within reasonable time after such entries, Purchaser shall
restore the Property to as nearly as possible its prior
condition, subject, however, to any disturbances, etc. to the
ProPerty caused by Historic Augusta in its archeological
investigation, as described herein.
(c) Due Diligence: The uDue Diligence Period" shall be a 90
day period commencing on the effective date of this Agreement.
During the Due Diligence Period, Purchaser may conduct studies
and incur expenses to confirm the feasibili ty of the Property
for Purchaser's intended use. These studies may include, but
not limited to: title examination, boundary survey, topographic
mapping, soil and engineering test analyses, environmental
examinations and reports and schematic building design studies
as may be deemed necessary or desirable by Purchaser. Purchaser
acknowledges that Historic Augusta, Inc. will, with the
permission of the Seller, conduct or cause to be conducted an
archaeological investigation of the Property. Such investigation
shall take place concurrently with the Due Diligence Period and
shall not unreasonably interfere with the investigation of the
Property by the Purchaser. Seller shall cause Historic Augusta
to complete its archeological investigation and to vacate the
Property prior to the end of the Due Diligence Period.
Purchaser shall make all surveys, inspection reports, market
analysis, and other tests obtained available to the Seller upon
request.
(d) Indemnification: Purchaser indemnifies and holds
Seller harmless from and against loss or damage which Seller may
incur and any and all liens that may arise as a resul t of
Purchaser's activities or the activities of Purchaser's agents,
representatives or designees on the Property and against any and
all claims for death or injury to persons or prOPerties arising
out of or connected with Purchaser's (or its agents,
representatives or designees) going upon the Property pursuant
to provisions of this paragraph 3 or otherwise, and against all
costs and expenses and liabili ties occurring in, or in
connection wi th, any such claim or proceeding brought thereon,
including, without limitation, court costs and reasonable
attorney's fees. This indemni ty shall survi ve the Closing or
any termination of this Agreement.
4.
Purchaser
Termina tion : If during the Due Diligence Period the
should determine, in the exercise of its sole and
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absolute discretion, that the Property is unsatisfactory or
unacceptable to it for any reason whatsoever or that the
Property is unsuitable for Purchaser's intended use, the
Purchaser shall have the right by written notice to Seller to
terminate this Agreement prior to the expiration of the Due
Diligence Period in which event this Agreement, with the
exception of the indemni ty contained in paragraph 3 (d), shall
become null and void and of no further force and effect at law
or in equity. Except as otherwise provided herein, in the event
the Purchaser fails to give Seller written notice of termination
wi thin the Due Diligence Period, the Purchaser shall be deemed
to have waived its right to terminate this Agreement for any
reason other than a default by Seller.
5. Seller's Cooperation: Prior to Closing the Seller
agrees to cooperate reasonably with the Purchaser for any
necessary rezoning of the Property and for Purchaser's land use
permi t applications or other Permits or permissions.
6. Closing: Closing shall be held on the earlier of thirty
days following the expiration of the Due Diligence Period on a
date SPecified by the Purchaser, with prior notice to Seller of
not less than ten (10)days. Provided, however, in the event that
the Purchaser's investigation of the Property reveals
environmental contamination or other matters that require
remediation under applicable law or regulation, Closing will be
delayed until such time as such remediation is complete. The
Closing shall take place at the offices of Purchaser's counsel
in Augusta, Georgia or in such other place as the parties may
agree to. At Closing the Escrow Agent shall pay over the Escrow
Deposit to the Seller and the Purchaser shall pay to Seller the
balance of the Purchase Price for the Property as set forth in
paragraph 2 above. Upon payment of the Purchase Price, the
Seller shall execute and deli ver to the Purchaser a limi ted
warranty deed for the Property. The title so conveyed shall be
a fee simple, free of all liens and encumbrances except those
specifically accepted or consented to by Purchaser pursuant to
paragraph 7 hereof. Ti tIe shall be such as will be insurable
both as to fee and marketability by a licensed title insurance
company selected by Purchaser at its standard rates. If the
Closing Date falls on a Saturday, Sunday or holiday, it shall be
deemed extended until the next business day.
7 . Ti tIe Report and PIa t of Survey:
Diligence Period the Purchaser may obtain, at
owner's title insurance commitment covering the
Wi thin the Due
its expense, an
Property from a
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licensed title insurance company selected by the Purchaser (the
uTi tIe Company") and a current plat of survey. The Purchaser
shall give written notice to the Seller within the Due Diligence
Period listing those title exceptions and matters revealed by
the plat of survey which are not acceptable to the Purchaser.
In the event of such notification, Seller shall have thirty (30)
days from the date of such notification to remove or correct
such objections prior to Closing. No subsequent actions
affecting the ti tIe by encumbrances after the Due Diligence
Period shall be undertaken without prior written approval by the
Purchaser, which shall not be unreasonably withheld. If Seller
fails to remove or correct such objections, or to remove or
correct the objection prior to Closing, Purchaser shall have the
right, at its option, either to accept title subject to such
objections or to terminate this Agreement, in which event Seller
shall cause the Escrow Agent to return to Purchaser any and all
amounts paid by Purchaser and in such event neither party shall
have any further liability or responsibili ty unto the other
arising out of this Agreement.
8. Risk of Loss: The ProPerty shall be held at the risk of
the Seller until legal title has passed and possession has been
given exclusively to the Purchaser. If prior to Closing any
part of the Property is destroyed by any cause or taken by
eminent domain, Purchaser may terminate this Agreement and
receive an immediate refund of the Escrow Deposit, or obtain a
mutually agreeable proportionate reduction in the purchase
price.
9. Documentary Stamps and Transfer Taxes: All documentary
stamps and transfer taxes relating to the conveyance of the
Property to the Purchaser shall be paid by the Seller.
10. Real Estate Taxes: Real estate taxes and similar public
charges against the Property, which are payable on an annual
basis shall be adjusted between the parties as of the date of
Closing and assumed and paid thereafter by the Purchaser.
11. Possession: Possession of the Property shall be given
to the Purchaser at Closing free of any tenancies.
12. Real Estate Commissions and other fees:
(a) Sherman & Hemstreet, LLC and Cora Bett Thomas Real ty
are the Brokers of record and shall be paid a commission at
Closing by the Seller from the sales proceeds of 8.00 percent of
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the purchase price, to be split equally between them.
(b) The Purchaser shall pay the Seller a development fee of
$37,000.00 at Closing.
13. Notices: All notices required or provided in this
Agreement if hand delivered or transmitted by commercial
overnight courier or other nationwide air courier, shall be
deemed to have been received on the date actually received if by
hand delivery and on the date delivered to the courier if by
courier. If the United States mails are used, notices shall be
sent certified or registered mail, return receipt requested,
postage prepaid and shall be deemed to have been received on the
date deposited in the United States mails and addressed as
follows:
TO: PURCHASER
The Foxfield Company
108 Traders Cross
Suite 102
Bluff ton, SC 29910
COpy TO:
James E. Blanchard
237 Davis Road
Augusta, GA 30907
To Seller:
Downtown Development Authority
416 Eighth Street
Augusta, GA 30901
COPY TO:
Wm. Byrd Warlick
Warlick, Tritt, Stebbins & Hall, LLP
699 Broad Street - Suite 1500
Post Office Box 1495
Augusta, GA 30903-1495
Each party shall have the right to designate a different
address for the receipt of notices other than that set forth
above, provided the new party's new address is contained in a
written notice given to the other party.
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14. Seller's Representations and Warranties: As a
material inducement to Purchaser's execution and performance of
this Agreement, Seller makes the following representations and
warranties all of which are true and complete as of the date of
this Agreement, shall be true and complete as of the date of
Closing, and shall survive the Closing:
(a) Authorization: Seller has the
authority to enter into, perform and consummate
under this Agreement, without any qualification,
necessity of the consent of any party.
full right and
its obligations
and without the
(b) Non-contravention: The obligations and undertakings
of Seller under this Agreement do not and will not violate or
conflict with any agreement to which Seller is a party or by
which Seller or the Property is bound.
(c) Judicial Actions: There are no
bankruptcies, actions or proceedings pending,
Seller's knowledge and belief, threatened
affecting any portion of the Property
development.
suits, judgments,
or to the best of
or contemplated,
or its use and
(d) Notice of Violation: Seller has not received any
notice of any violation of any ordinance, regulation, law or
statute of any governmental agency pertaining to the Property or
any part thereof.
(e) Public Proceedings: No actions or proceedings are
pending for the condemnation of any part of the Property, or of
any adjacent property owned by Seller, or for any acquisition in
lieu thereof and, to the best of Seller's knowledge and belief,
no such actions or proceedings are threatened or contemplated.
(f) Assessments: There are no encumbrances or special
assessments, either pending or confirmed, for sidewalks, paving,
water, sewer or other improvements on or adjoining the Property.
(g) Environmental Matters: To the best knowledge of the
Seller the Property (including land, surface water, ground water
and improvements) is now and will at Closing be free of all
Hazardous Substances, which term shall include contamination,
without limitation, other than for matters caused by Purchaser
or its agents, (i) any U hazardous was te , underground storage
tanks, petroleum, regulated substance or used oil", as defined
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by the Resource Conservation and Recovery Act of 1976 (42 U.S.C.
S 6901, et seq.) As amended, or by any regulations promulgated
thereunder; (ii) any uhazardous substance" as defined by the
Comprehensive Environmental Response Compensation and Liability
act of 1980 41 U.S.C. S 9601 et seq.,) as amended, or by any
regulations promulgated thereunder (including, but not limited
to asbestos and radon); (iii) any uoil or other hazardous
substances" as defined by the Oil and Hazardous Substances
Control Act of 1976: (iv) the presence of any substance on, in
or under the Property, is prohibited by any law similar to those
set forth above; and (v) any other substance which by law,
regulation, ordinance or guidance (whether published or
unpublished) requires sPecial handling in its collection,
storage, treatment, or disposal thereof.
(h) Boundary Disputes: There is no dispute concerning the
location of property lines or corners for the Property.
(i) Latent Conditions: Seller is unaware of any latent
defects regarding the Property or other condi tions which would
make Purchaser's proposed use and development impractical,
extraordinarily expensive, or subject to material delays.
(j) Liens, Encumbrances and Restrictions: There are no
liens, reservations, restrictions, easements (except easements
for the installation and maintenance of utili ties), or other
encumbrances on the Property which in any way limi t or impair
the use of the Property for the purposes contemplated by
Purchaser.
(k) Non-Foreign Status: Seller is not a foreign person as
defined in the Federal Foreign Investment in Real Estate Act of
1980 and the Tax Reform Act of 1984, as amended. If requested
by Purchaser, Seller shall execute a uNon-Foreign Affidavit" at
Closing certifying the foregoing.
15. Rights and Remedies:
(a) Default by Seller: In the event that Seller shall fail
or refuse to consummate the transactions contemplated under this
Agreement for any reason except Purchaser's default, Purchaser
shall have all rights and remedies available at law or in equity
including without limitation the right to enforce specific
performance of the Agreement, and in any such action shall also
have the right to recover damages suffered by reason of the
delay in the acquisition of the Property or to terminate this
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Agreement, reserving all claims for money damages, in which
event the Escrow Deposit shall be immediately returned to
Purchaser. No delay or omission in the exercise of any right or
remedy of Purchaser upon any breach by Seller shall impair any
right or remedy or be construed as a waiver.
(b) Default by Purchaser: In the event that Purchaser
should fail to perform its obligations to close, except as
permitted under this Agreement, the Seller, at its sole and
exclusive remedy, shall receive the Escrow Deposit, as full
liquidated damages, and not as a penalty. It is agreed that
Seller's damage would be difficult to ascertain and the Earnest
Money then on deposit with Escrow Agent constitutes the fair and
reasonable forecast thereof. Seller waives and releases any
right to, and covenants that it shall not, sue Purchaser for
specific performance or for damages.
(c) Enforcement Costs: Should either party employ an
attorney or attorneys to enforce any of the provisions of the
Agreement, or to recover damages for the breach of this
Agreement, then the non-prevailing party in any final judgment
agrees to pay all reasonable costs, charges and expenses,
including attorneys' fees, expended or incurred in connection
therewith.
16. Miscellaneous Provisions
(a) Execution of Agreement: The effective date (Effective
Date) of this Agreement shall be the date when this Agreement
has been executed by all parties. To facilitate execution, this
Agreement may be executed in as many counterparts as may be
required. It shall not be necessary that the signatures on
behalf of all parties appear on each counterpart hereof. All
such counterparts shall consti tute collectively a single
agreement.
(b) Construction of Agreement: This written Agreement
constitutes the entire and complete agreement among the parties
wi th respect to the Property, and supersedes any prior oral or
wri tten communication between them. This Agreement shall be
governed by and construed in accordance with the laws of the
State where the Property is located. If any provision of the
Agreement shall be in violation of any applicable law, or
unenforceable for any reason, the invalidity or unenforceability
of such provision shall not invalidate or render unenforceable
any other provision hereof. Descriptive headings included
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herein are included for convenience only, and shall not control
or affect the meaning or construction of provisions of the
Agreement. Each Exhibit or Addendum referred to in this
Agreement, and attached hereto, is incorporated herein as if set
out fully in the body of this Agreement. The parties
acknowledge that each party and its counsel have participated in
the negotiation and preparation of this Agreement. This
Agreement shall be construed without regard to any presumption
or other rule requiring construction against the party causing
the Agreement to be drafted.
(c) Time for Performance: Time is of the essence with
respect to every provision of this Agreement. If the date of
Closing, the last day under any notice, or the last day to
perform any obligation hereunder falls on a Saturday, Sunday or
legal holiday, or any day on which the Banks are not open for
business, in such event the time for performance shall be
extended to the next business day that does not fall on one of
the aforementioned days.
(d) Modification or Waiver: No modification, waiver or
amendment of any provision of this Agreement shall be implied
from any course of conduct or shall not be effective unless set
forth in a written agreement executed by the party against whom
such modification, waiver or amendment is sought to be enforced.
(e) Binding Effect: This Agreement shall be binding upon
and shall inure to the benefit of the parties hereto, and their
respective successors and assigns.
(f) Survival: All of the representations, warranties and
indemnifications provided in this Agreement shall survive
Closing. However, with specific reference to environmental
representations and warranties, said representations and
warranties shall expire upon the one year anniversary of
Closing.
(g) Further Assurances: The parties agree to sign, execute
and deliver, or cause to be signed, executed and delivered, and
or make, or cause to be done and made, upon the written request
of the other party, any and all agreements, instruments, papers,
deeds, acts or things, supplemental, confirming or otherwise, as
may be reasonably required to effect the purpose and intent of
the Agreement.
(h) Memorandum of Agreement: Each party agrees that this
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Agreement shall not be recorded in the public records. However,
upon the request of a party, each party shall execute a
Memorandum of the Agreement in recordable form which Memorandum
may be recorded in the public records by either party.
(i) Purchaser may at its option assign its rights and
obligations under this Agreement prior to Closing to any entity
in which Purchaser owns a controlling interest or is under the
common control with or is controlled by Purchaser. Prior to
Closing, Purchaser may assign its rights and obligations under
this Agreement to any third party wi th the prior approval of
Seller, which Seller will not unreasonably withhold. Provided
that the Property is subject to the post-Closing obligations set
forth herein, Purchaser may at its option sell and convey the
Property subsequent to Closing without restriction, provided
ei ther (a) the Purchaser demonstrates to the reasonable
satisfaction of the Seller that the proposed purchaser has
financial and developmental ability equal to or greater than
that of the Purchaser or (b) the Purchaser owns an interest,
regardless of the nature, amount or extent of such interest, in
the proposed purchaser. In the event that the Purchaser elects
to sell and convey the Property pursuant to subpart (a) hereof
and provides the Seller with such evidence of the financial and
developmental ability of the proposed purchaser as set forth
herein, the Seller shall approve such proposed purchaser by
wri tten and recordable instrument wi thin 30 days following the
receipt of such evidence or shall within such time frame provide
the Purchaser in writing with its reasons for failure so to
approve and any and all evidence that it has to support such
failure to approve. In the event that the Purchaser elects to
sell and convey the Property pursuant to subpart (b) hereof, it
shall evidence its ownership of an interest in the proposed
purchaser by affidavit in recordable form attesting to such
ownership, which affidavit shall be deemed conclusive evidence
of its compliance with the terms of this paragraph. The terms
and provisions of subparts (a) and (b) hereof shall only apply
in the event of a sale and conveyance of the Property subsequent
to Closing but prior to the issuance of a certificate of
occupancy on the improvements to be constructed on the Property.
Upon the issuance of such certificate, any and all restrictions
regarding sale of the Property shall be deemed null and void,
and of no further effect. Regardless of any provision hereof to
the contrary, the terms and provisions of this paragraph shall
be deemed automatically subordinated to the interest of any bona
fide lender for value which may be granted an interest in the
Property as collateral for a loan.
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(j) The following post-Closing obligations or agreements
shall survive the Closing:
i) The Purchaser intends to develop the Property into up
to 182 condominium units and/or retail and commercial
rental property. Such development shall be
substantially consistent with the market analysis
prepared by Delta Associates dated March 24, 2006, as
the same may be amended from time to time to
accommodate changes that may be necessary or desirable
as the Purchaser proceeds wi th development. Purchaser
will commence construction on the Property wi thin the
twenty-four (24) months following Closing.
ii) The City of Augusta shall provide utilities to the
Property of a kind and character generally provided by
municipalities for similar developments. The City
shall provide street improvements to and at the
ProPerty similar to those by it at Tenth, Ninth and
Seventh Streets adjacent to the Riverwalk Park. The
provision of such utili ties and improvements by the
Ci ty are a material inducement to the Purchaser for
its entering into this Agreement, and in the event the
City fails to do so, the Purchaser may treat such
failure as a breach of this Agreement. The failure of
the City to provide such utilities and improvements in
a timely fashion resulting in a delay of the planned
development by the Purchaser shall, among other
remedies available to the Purchaser, be deemed an
automatic extension of the time periods set forth in
the construction schedule as outlined on Exhibit UB"
attached hereto and the resulting ability of the
Seller to notify the City of its purchase rights as
described in subparagraph (iv) hereof.
iii) The City shall provide for water and sewer tap fees
for each condominium unit or other facility to be
cons tructed by the Purchaser at its usual and
customary fee of $250/uni t or $45,500 in the
aggregate. The City shall provide two compound meters
wi th bypass for a fee of $4,528.00. The provision of
such taps are a material inducement to the Purchaser
for its entering into this Agreement.
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iv) The City shall have the right for thirty days
following the receipt of written notice from the
Seller to purchase the Property from the Purchaser if
the Seller deems in its reasonable discretion that the
Purchaser has not diligently pursued its construction
schedule as outlined on Exhibit "B" attached hereto,
subject to any extensions as set forth in subpart (ii)
hereof. Such right to purchase shall expire if it is
not exercised by the City by the end of such thirty
day period. If the City exercises such right, the
purchase price to be paid to the Purchaser shall be
the sum of $1,702,000, provided, however, if the City
has breached any of its obligations, then the purchase
price shall be increased by such expenses tha t the
Purchaser has incurred in reliance upon the
inducements offered by the City, which the City failed
to provide through no fault of the Purchaser.
v) Purchaser shall use its best efforts to preserve the
Depot, loca ted upon the Property. The parties
acknowledge that the Purchaser must have proper and
adequate access to the balance of the Property for
purposes of development, and that the need for such
may necessitate the demolition or the relocation of
some parts of the Depot improvements.
vi) Purchaser shall cause an advisory committee to be
formed for giving it advice as to the design and the
construction of the development upon the Property by
the Purchaser. The composition of such advisory
committee shall be in the discretion of the Purchaser.
However, it shall have among its members Dr. James
Carter of the Seller and Mr. Erick Montgomery of
Historic Augusta, Inc., and shall also include a
representative of the City and of Augusta Tomorrow to
be selected by the Purchaser. In the event that such
members are unwilling to serve or unable to continue
such service, the Purchaser may appoint substitute
members with the consent of the Seller, not to be
unreasonably withheld.
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vi) The above post-closing obligations have been
agreed to between the Ci ty and the Seller for the
benefi t of the Property and/or the Purchaser. To the
extent allowed by law or otherwise, the City and the
Seller, as the case may be, agree that the benefits to
be deri ved from such obligations will be assigned to
the Purchaser by ei ther or both of them as the case
may be, and that the Purchaser may enforce the
performance thereof against them or either of them as
assignee of and/or as a third-party beneficiary of
such agreements.
vii) Regardless of any provision of this Agreement to
the contrary, the terms and provisions of the POst-
closing obligations of the Purchaser set forth in this
Paragraph 16(j) shall be deemed automatically
subordinated to the interest of any bona fide lender
for value which may be granted an interest in the
Property as collateral for a loan.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement of Sale and affixed their seals hereto on the day and
year first above written.
PURCHASER:
The Fox.:if-d
By: ~a
Harry E.
As its Presi ent
DATE OF EXECUTION: /t!Jj;~/~~
Company, Inc.
E
0.
Jr.
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SELLER:
DOWNTOWN DEVELOPMENT AUTHORITY
OF AUGUSTA
BY:- ~~~
AS ITS: c.. AA
BY:
AS ITS:
DATE OF EXECUTION:
:~d'~~~~
2cc~ AS ;?Jill .
BY: 0u1t&/
~ AS ITS: -. 61,2- CeJ~6D2tPJ
- h5 J-v DATE OF EXECUTION: 16 /-z.-r/o f:,
~
lo \'\<5[aG
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EXHIBIT UA"
All that tract or parcel of land, situate, lying and being in
the State of Georgia, County of Richmond and City of Augusta,
containing 6.30 acres, and being more particularly shown on a
certain plat thereof prepared for Watermark Condominiums by
Crans ton, Robertson & Whi tehurs t , P. C . da ted Augus t 9 , 2006 ,
incorporated herein by reference for a more particular
description.
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