Reso 2015-2405 - Laserfiche WebLink

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6. Office Space. Seller is hereby granted the option to purchase at Buyer's cost of construction and acquisition, up to 30,000 square feet of office space in the top floors of the proposed multi-purpose building to be located on the Property. Buyer shall notify Seller in writing of the option to purchase upon the completion of 60% of the architectural plans for the building. Buyer agrees to give Seller a thirty (30) day review period to review the 60% plans. The thirty(30) day review period shall commence upon delivery of the 60%plans to the Seller. Prior to the end of the review period, Buyer agrees to provide Seller with the price for the purchase of the office space (on a per sq. ft. basis) based on Buyer's cost of acquisition and construction. Seller shall, by providing written notice to the Buyer, exercise the option to purchase no later than 120 days from the date in which the review period ends or prior to approval of final design by the City Commission, whichever occurs first. Buyer agrees to give Seller at least 10 days written notice before final approval of the design by the City Commission. If Seller fails to exercise the option to purchase within the time period set forth herein, the option to purchase shall expire and be declared null and void. The option to purchase discussed herein is not transferrable except to an affiliate of the Seller. The term "affiliate of the Seller" means a corporate entity in which Michael or Gil Dezer is the majority owner or majority shareholder. If the Seller exercises the option to purchase set forth herein, the closing of the purchase under the option shall take place within 60 days after the building and the space the Seller is purchasing has a certificate of occupancy. The terms under which the purchase and closing shall take place shall be substantially in accordance with the Florida Bar approved form of contract of purchase and sale for real estate. This provision shall survive Closing. 7. Closing Costs. Closing Costs. The parties shall bear the following costs: (a) Buyer shall be responsible for (i) the recording cost of the Deed, (ii)the cost of the Survey(if obtained by Buyer), (iii)the cost of the Commitment and the premium for the Title Policy obtained by Buyer. (b) Seller shall be responsible for payment of costs of curing any Title Defects, any documentary stamp and surtaxes due on the Deed and the recording costs in connection with any curative instruments relating to same. 4 of 14 112371632.2 SIB