Reso 2012-1901 - Laserfiche WebLink

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3. Closing. Section 4 of the original Agreement ("Closing") is hereby amended to reflect that Closing shall occur on or before May 11, 2012. 4. Development Review/Site Plan Approval Deadline. Section 5 of the original Agreement ("Development Review and Construction Schedule") is hereby deleted in its entirety and the following substituted language applies: Buyers shall obtain a Site Plan Approval for the Project on or before December 1,2014. This provision shall survive Closing. 5. Right of First Refusal. Section 6 of the original Agreement ("Pledge of Performance") is hereby deleted in its entirety and the following substituted language applies: Buyer hereby grants to Seller a right of first refusal (the "Right of First Refusal"), with respect to the Property, subject to the terms and provisions set forth herein. The tenn of the Right of First Refusal shall begin at Closing and shall expire upon the earlier of (a) the issuance of a building permit for the Project or any other project approved by the City Commission on the Property. (b) Seller's execution and delivery of a Waiver of Right of First Refusal, or (c) Seller's acceptance of the Offer (as hereinafter defined), and subsequent reacquisition of the Property. In the event Buyer receives a written offer to purchase the Property during the aforementioned term which the Buyer intends to accept (an "Offer"), the Buyer shall provide written notice of receipt of the Offer to Seller. The giving of such notice shall constitute an offer by Buyer to sell the Property to the Seller at the same purchase price as contained in the Offer and otherwise in accordance with the terms and provisions of the Offer. Not later than thirty (30) days after receipt of such notice, the Seller may elect to purchase the Property at the purchase price in accordance with the terms and provisions of the Offer by delivery to the Buyer of all of the following within such thirty (30) day period: (a) Written notice of the election of Seller to acquire the Property; (b) A check made payable to the attorneys for Buyer, as escrow agent, in the amount of the deposit set forth in the Offer; and (c) A duly executed purchase and sale agreement which contains the terms and provisions of the Offer. Seller agrees to respond to Buyer's notice in writing within said Ihirty (30) day period, and if Seller does not elect to purchase Ihe Property pursuant to the Offer, then (i) the Right of First Refusal shall be cancelled and 101'3733.4 2 S. lO It.}