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HomeMy WebLinkAboutAGREEMENT_ BETWEEN MAMIE DUNN AND AUGUSTA LAND BANK AUTHORITY_ TWIGGS STREET STABILIZATION _ 1546 TWIGGS STREET STATE OF GEORGIA ) RICHMOND COUNTY ) THIS AGREEMENT,made and entered into,this day of 2018 between Mamie Dunn of 1526 Avalon Avenue, Augusta, Georgia 30909. (hereinafter referred to as"SELLER"),and Augusta Georgia Land Bank Authority (hereinafter referred to as"BUYER"); WITNESSETH: 1. Seller has agreed to sell and Buyer to buy, on the terms and conditions hereinafter set forth, the real property 1546 Twiggs Street,Augusta, Georgia 30901,Map and Parcel# 059-4-069-00-0 described on Exhibit"A"hereto attached. 2. The purchase price of said property is Three Thousand Dollars and no/100($3,000.00) payable as follows: CASH AT CLOSING a) Seller agrees to furnish a marketable title to said property and agrees to convey said property by general warranty deed to Buyer at the time the sale is consummated, subject to: 1) Covenants and restrictions of record not violated by existing improvements or the use of the property. 2) Zoning ordinances not violated by the existing improvements or the use of the property. 3) Encumbrances and leases specified in this contract. b) Buyer shall furnish to Seller a written statement of objections affecting the marketability of said title at least fifteen(15)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 which constitute a lien, but are not due and payable at the time of closing), outstanding interest or question of title not expressly consented to herein by the Buyer which render the Seller's title to the premises unmarketable, and which may according to reasonable expectations, be removed within thirty(30) days, the Seller shall have the privilege to remove or 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 Seller 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. 3. The purchase and sale of the subject property shall be closed on or before Possession of the property shall be delivered to the Buyer on or before the time of closing. 4. 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 such parties at the time this sale is consummated. 5. Seller warrants that when the sale is consummated the improvements on the property will be in the same condition as they are on the date of this contract, natural wear and tear excepted, and Seller specifically assumes the risk of loss or damage to said property until the consummation of the sale. Should the premises be destroyed or substantially damaged before this contract is consummated, then, at the election of the Buyer: (a) The contract may be canceled; (b) Buyer may consummate the contract and receive such insurance as is paid on the claim of loss; if there is no insurance the reasonable cost of repairing said improvements shall be subtracted from the purchase price provided for in paragraph 2 hereof. The election is to be exercised by Buyer within ten (10) days after the amount of the Seller's damage is determined. 6. Buyer is to pay for the examination of title, intangible tax and attorney fees. Taxes, interest on loan,rents and insurance premiums(if insurance is transferred to Buyer)are to be prorated as of the date of closing. 7. Buyer agrees that if he fails or refuses to consummate this transaction for any reason, except lack of marketable title in the Seller, the Seller shall have the option of suing for specific performance or of terminating this contract. 8. The special stipulations appearing on Exhibit B hereof, shall, if in conflict with the printed matter contained herein, control. 9. This contract constitutes the sole and entire agreement between the parties and no modification of this contract shall be binding unless attached hereto and signed by all parties to this agreement. Representations, promises or inducements not included in this contract shall not be binding upon any party hereto. 10. All rights,powers,privileges and duties hereby granted or assumed shall inure to the benefit of and shall be binding upon the successors, assigns, heirs, administrators and executors of the parties hereto. This agreement is executed in two(2)counterparts-each of which shall be deemed an original and together shall constitute one and the same agreement with one counterpart being delivered to each party hereto. IN WITNESS WHEREOF,the parties have set their hands and seals as of the date first written above: ATTEST: AUGUSTA, GEORGIA (The City) Approved as to form: Date: 1 t//l��� Andrew MacKenzie r As Its Legal Counsel B 1-1(4.w YDate: \21 \ l Hardie Davis As its Mayor By: A 1 (/1 y( 17 41111 Date: I Janice Alle r kson As its A. i strator By: A Date: 1\ I / \ Hawthorn t As its Direct G` ' CH�€t,1, 'IN fi,/�i i , ,'- c L a,° . •:. T Z' e 4 S � a� Ai ifs Ck o ` 'omssio ? win. ,�..s pps. f ATTEST`::Colds or is �Q f �j By: p�7--lfivn Date: / - 01g of I As Its Owner By:&cl�, x %41")-A-aAA--- Date: Plain Witness Exhibit A Exhibit B SPECIAL STIPULATIONS 1. This property is being sold "as is." Seller does not make any claims or promises about the condition or value of any of the property included in this sale. Buyer makes this offer in full reliance upon his own independent investigation and judgment. There are no verbal agreements, which modify or affect this offer. The acceptance of a deed by Buyer shall be deemed to be the full performance of every obligation on the part of Seller. 2. Seller warrants that at time of closing the Property will be in the same condition as it was on the date of acceptance, normal wear and tear excepted.