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![]() ![]() " Inspection Period" has the meaning set forth in Section 5.6. " Inspection" has the meaning set forth in Section 5.5. Initial Option Payment has the meaning set forth in the Option " Initial Earnest Money Deposit" has the meaning set forth in Extension Fees has the meaning set forth in " Escrow Agent" shall mean First American Title Insurance Company. " Escrow" shall mean the escrow created pursuant to this Agreement. The Initial Earnest Money Deposit, the Second Earnest Money Deposit, the Extension Fees and all accrued interest thereon. " Earnest Money Deposit" shall collectively mean ![]() Meaning set forth in the Option Agreement. " Closing Date" shall mean 60 days from the date of Buyer's receipt of the City Approvals, provided however that in no event shall the Closing Date be later than December 31,Ģ012, unless extended pursuant to Section 6.1. " Closing" or " Close of Escrow" shall mean the consummation of the Transaction, asĮvidenced by the delivery of all required funds and documents to Escrow Agent, Buyer, or Seller as the case may be. " City Approvals" has the meaning set forth in Section 5.8. " Cash" shall mean United States currency represented by cash in hand or federally insured wire transfer. " Buyer's Objections" has the meaning set forth in Section 5.1. Saturday, Sunday or day on which banking institutions in the City of Durham, State of North Carolina are authorized or required by law or executive order to be closed. " Business Day" shall mean a day other than a Purchase and Sale Agreement, including all exhibits attached hereto. The following terms shall have theįollowing meanings when used in this Agreement: WHEREAS, Seller desires to sell the Property to Buyer, and Buyer desires to purchase the Property from Seller, on the terms and conditions set forth in this Agreement.ġ. WHEREAS, Seller is the owner of the Property (as such term is defined below) and ![]() Seller and Buyer are sometimes referred to herein as the Parties. AGREEMENT is made and entered into as of 5 th day of March,Ģ012 (the Effective Date), by and between Boulevard Forest & Trees LLC, a North Carolina limited liability company (" Seller"), and Bainbridge Communities Acquisition I, LLC, a Florida limited liabilityĬompany (" Buyer"). ![]()
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