Reso 2009-1430 - Laserfiche WebLink

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"' Page 2 May 6, 2009 3. Terms: All Cash with no financing Contingencies. 4. Deposit: $130,000 deposit to be held in the Trust Account of The Behar Law Firm due upon execution of the Contract. 5. Closing: Buyer's purchase of the property will close in 30 days from the issuance of the certificate of title by the Clerk of the Court or via a deed in lieu foreclosure from the Buyer, whichever date comes first. Buyer shall choose and shall pay for title insurance and surveyor other inspection of the property, cost recording the deed, its attorneys fees, and documentary stamp taxes on the deed. The Seller shall pay for the preparation of the conveyance documents and Seller's attorney's fees. 6. Prepare Contract: within 15 working days of the full execution of this Letter of Intent, Sellers' counsel shall prepare the Contract which shall embody the terms set forth herein and the other terms normally. contained in commercial contracts for the sale of commercial real estate in Miami-Dade County. Said contract shall be conditioned upon the issuance of either a certificate of title to Regions Bank or a deed in lieu of foreclosure. 7. Brokerage: Seller and Buyer acknowledge that are no brokers for the closing of the transaction and no commissions will be due to any third parties whatsoever. 8.. Termination: After acceptance by Buyer this Letter of Intent shall terminate within 15 working days from the date of execution below, if Buyer and Seller have not entered into a binding contract that is conditioned upon the issuance of the certificate of title or a deed in lieu of foreclosure to the Bank. 9. Counterparts: This Letter of Intent may be executed in one or more counterparts each of which shall be deemed one instrument. Acceptance by facsimile or transmission of the scanned signature of the electronic mail shall be deemed binding. 10. Other Contracts: So long as this Letter of Intent and the contract remain in effect, Seller agrees that it shall not enter into a contract, letter of intent or other document providing tor the purchase and sale of the Propeny with any other purchaser other then the Buyer or its related entities. The terms of and provisions of this paragraph shall be binding on the parties. Except for section 9 herein, this Letter of Intent is nonbinding and is intended to solely outline the general terms of the proposed transaction. No obligation or liabilities intended to be created by this Letter of Intent or by any written or oral statements of negotiations or promises between the parties directly or through any representatives. It is intended that only a subsequent formal written contract setting forth the final terms and conditions of the transaction, executed and delivered by the parties will bind the parties on any matter covered by this Letter of Intent.