HomeMy WebLinkAboutReal Estate Sales - Oliver Owens, Paul Davis, Bobby Meybohm
Augusta Richmond GA
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REAL ESTATE SALES CONTRACT
THIS AGREEMENT, made and entered into this J 7
day of
May, 1996, by and between OLIVER OWENS, PAUL DAVIS and BOBBY
MEYBOHM, hereinafter collectively referred to as the "Seller", and
RICHMOND COUNTY, GEORGIA, a political subdivision of the State of
Georgia, hereinafter referred to as "Buyer";
WIT N E SSE T H:
(1) In lieu of formal condemnation by Buyer, Seller
agrees to sell and Buyer agrees to buy on the terms and conditions
hereinafter set forth the property described as follows:
ALL that tract or parcel of land, lying and being in the
86th G.M.D. of Richmond County, Georgia, containing
approximately 203.59 acres, as shown more fully on the
plat prepared for Oliver Owens, Paul Davis and Bobby
Meybohm by George L. Godman & Associates, dated January
9, 1992, a copy of which is attached hereto as Exhibit
"A" , reference being made to said plat for a more
accurate and complete description as to the metes,
bounds, distances and location.
(2) The purchase price of the property shall be Eight
Hundred Fourteen Thousand Three Hundred Sixty and No/I00
($814,360.00) Dollars payable as follows:
$300,000.00 cash at closing, the balance to be paid
pursuant to a promissory note in the sum of $514,360.00, which note
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shall bear interest at the rate of 8.25%.
Principal and accrued
interest on said note shall be paid on or before January 17, 1997.
(3) The purchase and sale of this property shall be
closed on or before July IS, 1995 and possession of the property
shall be delivered to Buyer at closing.
(4) Selle~ agrees to furnish marketable title to said
property and agrees to convey said property by general warranty
deed to the Buyer at the time the sale is consummated, subject only
to:
(a) Covenants and restrictions of record not
violated by existing improvements or use of the property;
(b) Zoning ordinances not violated by existing
improvements or use of the property.
(5) Buyer shall furnish to Seller a written statement of
obj ections affecting the marketability of said title at least
thirty days prior to the date set for closing.
If the Seller
shall be unable to convey title in accordance with the provisions
of this contract as a result of the property being affected by any
encumbrance (other than taxes for the current year), outstanding
interests or questions of title not expressly consented to by the
Buyer which renders
the Seller's
title
to the property
unmarketable, and which may according to reasonable expectation be
removed within thirty (30) days, the Seller shall have the
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privilege to remove qr satisfy the same and shall for this purpose
be entitled to an adjournment of the closing of title for a period
not exceeding fifteen (15) days. The Buyer shall not be required
to bring any action or proceeding or otherwise. incur any expense to
render the title to the premises marketable. The Buyer may,
nevertheless, accept such title as Seller may be able to convey,
without reduction of the purchase price or any credit against same
and without liability on the part of the Seller.
(6) Time is of the essence of this contract, and Seller
and Buyer agree that such papers as may be legally necessary to
carry out the terms of this contract shall be executed and
delivered by the parties at the time this sale is consummated.
(7) Seller is to pay all liens, encumbrances, water
charges and the like on said property and all transfer tax on
Seller's deed. Buyer is to pay for the examination of title,
intangible tax, and preparation of all instruments necessary to
close this sale. Taxes shall be prorated as of the date of
closing.
(8) This sales contract is subj ect to the following
special stipulatiOns:
(a) Buyer obtaining one or more real estate
appraisals establishing fair market value at or near the stated
purchase price;
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(b) There are no environmental or topographical
restrictions which would prevent Buyer from using the property as
a recreational complex. In this regard, Buyer shall have the
right and privilege of entering upon said land for the purpose of
making an examination, exploration, drilling and surveying to
satisfy itself that there are no such restrictions or limitations
to the use of the property. Seller shall be fully compensated for
any and all damages to any of said land by reason of such
examination, exploration, or drilling and surveying that Buyer may
undertake between the date of this contract and the date of
closing.
(9) There, is no real estate broker involved in this
transaction and there are no commissions involved in this sale.
(10) This contract constitutes the sole and entire
agreement between the parties, and no modification to this contract
shall be binding unless such modification is in writing signed by
all parties hereto. Any representations, promises or inducements
not included in this contract shall not be binding upon any party
hereto. All rights, powers, privileges and duties granted or
assumed shall inure to the benefit of and shall be binding upon any
and all successors and assigns of the parties hereto.
IN WITNESS WHEREOF, the undersigned have hereunto set
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their hands and seals the day and year written above.
(L. S. )
~M~
(L. S. )
APPROVED
MAY 2 1 1996
M COMMISSION EXPIRES
lAUGUSTA.~ICHMOHO COUNTY COMMISSION)
SIGNED, SEALED AND DELIVERED
in the presence of:
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:: ::,= ~ ;, ; Notary PUb~IC,. ColumbIa County, GeorgIa
M~Y>CO,MMISSION.".E.~PIRES MvCommrsalnn Expires Jim 21 199
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