OPTION TO PURCHASE PROPERTY
THIS AGREEMENT is among Nashua Millyard Associates, Inc., their successors and
assigns (collectively, the “Seller”) and Stephen Bonnette and Aaron Bagshaw, their successors
and assigns (collectively, the “Buyer’).
RECITALS
This Agreement is entered into upon the basis of the following facts and intentions of the
parties:
A. Seller owns that certain real property described in Exhibit A hereto (the
Property”).
Seller
Nashua Millard Associates Inc.
Name:
Title:
Buyer
City of Nashua
Name: James W. Donchess,
Title: Mayor
paid, to the parties at the following address, or as at such other addresses as the
parties by like manner shall notify each other from time to time:
TO SELLER: President
Nashua Millyard Associates Inc.
22 Kehoe Avenue
Nashua, NH 03060
With a Copy to: Thomas “Jay” Leonard
Law Offices of Welts, White & Fontaine, P.C.
29 Factory Street
Nashua, NH 03060
TO BUYER City of Nashua
Economic Development Division Director
229 Main Street
Nashua, NH 03061
12. TOWER LEASE. Sellers retains and reserves the rights as Landlord of the Radio Tower
Lease for a period of two years from the Closing. For the two year period, the Seller will retain
possession of the leased premises and carry out the obligations of the Landlord, and the Seller shall
receive all rents as set forth in the Radio Tower Lease. The parties will memorialize the agreement
with execution of reasonable mutually acceptable document(s) at Closing.
13. ADJUSTMENTS, PRORATIONS AND CLOSING COSTS.
condemnation, requisition or taking has been received by the Seller and no such
condemnation, requisition or taking is threatened.
If Buyer shall discover or determine prior to the expiration of the Due Diligence Period
that it is not satisfied in any way with the status of the Premises or the results of any of its due
diligence or inspections, Buyer shall have right to terminate this Agreement and have any Deposit
refunded forthwith, and all the parties shall thereafter be released from any further obligations
hereunder.
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.
A. Title Examination/Survey.
1. If Buyer desires an examination of title or survey of the Premises, it
shall pay the cost thereof.
2. The Buyer shall report to the Seller the results of any such survey or
REAL ESTATE PURCHASE AND SALE AGREEMENT
THIS REAL ESTATE PURCHASE AND SALE AGREEMENT (this “Agreement”) is made and
entered into as of this day of , 2021, by and between Nashua Millyard
Associates Inc., having a mailing address of 22 Kehoe Avenue, Nashua, New Hampshire
(“Seller”) and The City of Nashua, a New Hampshire municipal corporation, having an address
of 229 Main Street, Nashua, New Hampshire 03060, (“Buyer”).
R-21-144
RESOLUTION
AUTHORIZING THE PURCHASE OF PROPERTY LOCATED AT “L” PINE STREET
(MAP 77, LOT 5)
CITY OF NASHUA
In the Year Two Thousand and Twenty-One
