07-B Chamber Bldg Sales Agmt - Laserfiche WebLink

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the activities of the Lamar County Genealogical Society and another portion of said structure as a transportation museum; and, WHEREAS, the aforesaid depot structure has been completed and the Chamber and its related activities have occupied said structure, and the prior Chamber offices, previously defined above as the Property, are standing vacant and have been offered for sale; and, WHEREAS, during the course of the reconstruction and rehabilitation of the Depot structure, the City of Paris incurred substantial costs, not covered by the aforesaid TxDOT grant, in furtherance of completion of the Depot, said costs being incurred on behalf of and to be reimbursed by the Lamar County Chamber of Commerce; and, WHEREAS, as a result of the offering of the Property, the Chamber has received an offer of $200,000.00 to purchase the entire Property, including the undivided seven-tenths (7/10) interest owned by the Lamar County Chamber of Commerce and the undivided three-tenths (3/10) interest owned by the City of Paris; and, WHEREAS, the City of Paris and the Lamar County Chamber of Commerce are in mutual agreement that the proceeds from the sale of the Property should be used to defer and reimburse those grant ineligible costs already incurred by the City of Paris in reconstructing and rehabilitating the Depot building on behalf of the Chamber of Commerce, thereby avoiding the Chamber having to utilize other funds for such reimbursement, with the remainder of the proceeds to be utilized to construct a myriad of other improvements to the Depot property, to the mutual benefit of the City of Paris as Owner and the Chamber of Commerce as Lessee of the Depot property; NOW, THEREFORE, PREMISES CONSIDERED, THE PARTIES HERETO COVENANT AND AGREE AS FOLLOWS: WITNESSETH Sale. Seller shall sell to Buyer and Buyer shall purchase from Seller Seller's undivided three- tenths (3/10) interest in and to that Property described as Lots 1, 2, and 2A of City Block 20 l-B, and as further described as tracts one and two in that Exhibit A attached hereto and for all purposes incorporated herein, the same being that Property located at the northwest corner of the intersection of 17th Street S.W. and Clarksville Street in the City of Paris, Paris, Texas, also known as the offices of the Lamar County Chamber of Commerce. Seller shall convey its undivided three-tenths (3/10) interest by General Warranty Deed to Buyer in a form acceptable to both parties. Purchase Price. The purchase price for the entire Property shall be Two Hundred Thousand and no/100 Dollars ($200,000.00), subject to the adjustments and conditions provided herein. Any and all costs of the ultimate sale of the Property, the same consisting of the Chamber of Commerce's seven-tenths (7/10) undivided interest and the City of Paris's three-tenths (3/10) undivided interest, and any and all similar costs as shall be Page 2 of 8