Board Of Aldermen - Agenda - 2/9/2021 - P61
These representations shall survive the Closing.
Other than the representations contained above and the warranty of the proposed
Warranty Deed, Seller makes no representation or warranty as to fitness, merchantability,
condition or use of the Premises for any particular purpose as the Premises is sold “AS-IS”.
9, DEFAULT AND REMEDIES. In the event that Buyer defaults in the performance of its
obligations hereunder, Seller shall be entitled to retain the Deposit, if any, as reasonable
liquidated damages.
10. CONDITIONS SUBSEQUENT TO CLOSING. The parties hereby agree and
acknowledge that Buyer is purchasing the Premises from Seller to construct a roadway to access
anew school. The parties further agree that Buyer does not need nor want the entire Premises
for the proposed roadway, but as a result of the design and layout of the new roadway, the
Premises shall be subdivided into three (3) distinct parcels: (1) the roadway, (2) portion north
of the Foadway; and (3) portion south of the roadway. ‘As consideration of SeHer-to-close-at or
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with Sellers existing eroperty- Subsequent t to tine design and c. construction of the roadway. Buyer
and Seller agree that each will fully cooperate and take all necessary and advisable actions to
adjust the lot line between Seller’s land at 34 Buckmeadow Road, Parcel ID 0000C-00350,
Map/Lot C-350 (“34 Buckmeadow”) and the Premises to include in 34 Buckmeadow the portion
of land north of the roadway which the City, in its sole discretion, has determined is surplus
subject to Buyer’s reserved rights of easement over that property for slopes, drainage and
establishment of _ Gamage Pot node cat tice to be ih wenn nih ane Re
Exhibi—a : ete. “Buyer shall also convey a single ‘point
driveway a access to the new road to Seller for the property to be reconveyed to Seller after
Closing, location to be determined by Buyer. The transfer of all land located northerly of the
proposed new road layout from Buyer shall occur following approval of a plan creating the new
roadway and reflecting the consolidation of the remaining portions of the Premises with the
abutting properties no later than six (6) months after the substantial completion of construction of
the proposed roadway.
With regard to the property southerly of the roadway Buyer covenants that for a period of twenty
(20) years Cynthia Landry shall hereby receive an exclusive right of first refusal to purchase said
property in the event that Buyer elects to sell or transfer said property. This covenant shall run
with the land, be binding on heirs and assigns and be included in the deed of transfer. For the
same twenty (20) year period the City shall not permit any construction or development within or
of this area, including but not limited to, a park or recreational area of any kind.
Buyer further commits that the contemplated new road will be named “DiAntonio Drive.”
11. BROKERAGE. Seller and Buyer represent and warrant to each other that neither has
dealt with any real estate broker, agent or salesperson in connection with this transaction. Each
party agrees to defend, indemnify, and hold the other harmless from any claims, costs,