REAL ESTATE PURCHASE AND SALE AGREEMENT
THIS REAL ESTATE PURCHASE AND SALE AGREEMENT (this “Agreement”) is made
and entered into on this day of , 2020, by and between Grace
Fellowship of Nashua, having a mailing address of 55 Franklin Street, Nashua, New Hampshire
(“Seller”) and The City of Nashua, a municipal corporation, having an address of 229 Main
Street, Nashua, New Hampshire 03060, (“Buyer”).
1, PURCHASE AND SALE. Seller agrees to sell and convey, and Buyer agrees to buy, on
the terms and conditions hereinafter set forth, a parcel of land with the buildings and
improvements thereon, located in Nashua, Hillsborough County, New Hampshire, known as or
described as Lot 68-53 of the City of Nashua Tax Maps, having an address of 55 Franklin
Street, Nashua, New Hampshire, being the property described in a deed recorded in the
Hillsborough County Registry of Deeds, Book 6243, Page 1916 (“Premises”).
2. PURCHASE PRICE. Subject to any adjustments and prorations hereinafter described,
Buyer agrees to pay for the Premises the sum of One Million Eight Hundred Twenty Five
Thousand and 00/100 Dollars ($1,825,000.00) (“Purchase Price”). The Purchase Price shall be
payable as installments as follows:
Deposit: paid on or before 10 days of fully executed Agreement $430,000
Installment #1: paid at closing $170,000
Installment #2 paid on or before September 30, 2021 $250,000
Installment #3: paid on or before September 30, 2022 $250,000
Installment #4: paid on or before September 30, 2021 $725,000
Installments may be prepaid at any time without penalty.
3, TITLE. Seller shall convey the Premises to the Buyer at the Closing in fee simple with
good, insurable, and marketable title by Warranty Deed, free and clear of all liens and
encumbrances, except as set forth in the deed or matters of record. Parties shall also deliver such
additional documents as may be required under this Agreement or as may be reasonably required
by their respective counsel or the title insurance companies insuring the transaction, including
but not limited to, assignments, affidavits, documents and certificates.
4. CLOSING. The closing shall occur on , 2020, at a time and location
mutually agreed to by the parties.
5, INSPECTION AND DUE DILIGENCE PERIOD. The obligations of Buyer to
consummate the transaction contemplated by this Agreement are expressly conditioned on the
satisfaction of each of the following conditions and, if any such condition is not satisfied as
hereafter provided, Buyer will be entitled to either: (a) waive the same in writing; or (b) terminate
this Agreement. On such termination the Buyer and Seller will be released from further
performance hereunder.
