HomeMy WebLinkAbout6822RESOLUTION NO. 6,822
A RESOLUTION AUTHORIZING THE EXTENSION OF
THE CONTRACT WITH HOOPER -BOND FOR SIXTY
DAYS ON THE PURCHASE OF THE C014MONWEALTH
PROPERTY; AND FOR OTHER PURPOSES.
BE IT RESOLVED by the Board of Directors of the
City of Little Rock, Arkansas:
Section 1. The extension of the contract with
Hooper -Bond Investments on the purchase of the Commonwealth
Property is hereby authorized for a period of sixty days.
Section 2. This Resolution shall be in full force
and effect from and after its adoption and approval.
ADOPTED: July 7, 1982
ATTEST: APPROVED:c
C LE MAYOR
84
No
Exhibit to Res. #6,822
SECOND AMENDMENT
TO REAL ESTATE CONTRACT
INVESTMENTS (the "Buyer"
WHEREAS, the Buyer has been unable to obtain conmiitments
for permanent financing and for a tenant for the subject
property within the 45 days allowed under the Contract; and
WHEREAS, the Buyer is willing to diligently continue
negotiations in order that it can acquire the subject property;
NOW, THEREFORE, it is agreed by and between the parties as
follows:
1. Extension. Paragraphs 9(a)(i) and (ii) are hereby
amended to extend the time within which Buyer can obtain
financing and a tenant for the Property with such period to end
on August 15, 1982.
2. Right of First ReLusal. If at any time the Seller
shall receive a bona fide written offer for the purchase of the
Property, the Buyer shall have `Pen (10) days after receiving
notice of such offer to waive the contingencies contained in
Pzuagraphs 9(a) (i) and (.ii) of the Contract and to proceed to
close the transaction.
3. Ratification. Except as expressly amended hereby, the
Contract is here affirmed and ratified in all respects and
shall be and remain in full force and effect.
EXECUTED this the date first mentioned above.
ATTEST:
)a�z� r
CITY OF LITTLE ROCK, ARKANSAS
By: - -- —
HOOPS& BOND INVESTMENTS
B�
THIS SECOND AMENDMENT made this 8th day of July, 1982, to
that
certain Real Estate Contract
dated April
29, 1982,. which
was
subsequently amended by an
instrument
dated May 5,
1982,
(together referred to as the
"Contract ")
by and between
the
CITY OF LITTLE ROCK (the
"Seller ")
and HOOPER -BOND
INVESTMENTS (the "Buyer"
WHEREAS, the Buyer has been unable to obtain conmiitments
for permanent financing and for a tenant for the subject
property within the 45 days allowed under the Contract; and
WHEREAS, the Buyer is willing to diligently continue
negotiations in order that it can acquire the subject property;
NOW, THEREFORE, it is agreed by and between the parties as
follows:
1. Extension. Paragraphs 9(a)(i) and (ii) are hereby
amended to extend the time within which Buyer can obtain
financing and a tenant for the Property with such period to end
on August 15, 1982.
2. Right of First ReLusal. If at any time the Seller
shall receive a bona fide written offer for the purchase of the
Property, the Buyer shall have `Pen (10) days after receiving
notice of such offer to waive the contingencies contained in
Pzuagraphs 9(a) (i) and (.ii) of the Contract and to proceed to
close the transaction.
3. Ratification. Except as expressly amended hereby, the
Contract is here affirmed and ratified in all respects and
shall be and remain in full force and effect.
EXECUTED this the date first mentioned above.
ATTEST:
)a�z� r
CITY OF LITTLE ROCK, ARKANSAS
By: - -- —
HOOPS& BOND INVESTMENTS
B�