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Land Purchase and Sale Agreement 2
Land Purchase and Sale Agreement 2
land-purchase-and-sale-agreement-2.doc
1
PURCHASE AND SALE AGREEMENT
PURCHASE AND SALE AGREEMENT (this “Agreement”), dated ______________, 2008
(the “Effective Date”).
In consideration of the mutual covenants and representations herein contained, and other
good and valuable consideration the receipt and sufficiency of which are hereby acknowledged,
Seller and Purchaser agree as follows:
1.
DEFINITIONS
1.1 As used herein, the following terms shall have the meanings set forth below in this
Section 1.1:
Closing Date shall mean on or before 1:00 p.m., Chicago, Illinois time on the date that is
____________ (_____) days after the expiration of the Due Diligence Period.
Due Diligence Period shall mean the period commencing on the Effective Date and ending at
5:00 p.m., Chicago, Illinois time on the date that is ___________ (_____) days thereafter.
Improvements shall mean all improvements and related amenities located in and on the Land
(together with the Land, the “Real Property”).
Inspection Materials shall mean a copy of Seller's Policy of Title Insurance in respect of the
Real Property, if any, a copy of Seller's existing survey of the Property, if any, a copy of the Lease, a
copy of the most recent Environmental Reports, and copies of any financial or other information
provided by Tenant pursuant to the Lease.
Land shall mean that certain land located in the City of ______________, County of
_______________, State of ________________, being more particularly described on Exhibit A,
attached hereto and made a part hereof.
Lease shall mean that certain Lease by and between _______________________, as
Landlord, and ____________________________, as Tenant.
Purchase Price shall mean
__($_______________).
Survey shall mean a current as-built survey of the Property, being either a new survey or an
update of Seller's existing survey of the Property.
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