pf_02888 - Laserfiche WebLink

Home

BRIGGS AND MORGAN Rick J opke July 3, 1997 Page 2 4. Addendum to Option Agreement (Retention and Removal of Buildings and Improvements) (Howard form). This form contemplates the removal of a home on or before the date of closing. The only difference between this form and the form described in Section 3 above is that it requires the home owner to deliver mechanic's lien waivers on the date of closing rather than 10 days before the date of closing. 5. Addendum to Option Agreemnet (Retention and Removal of Buildings and Improvements) (Bob Bertch form). This form contemplates the removal of the home after the date of closing. It is my understanding that Mr. Birch is the only individual intending to remove the home after the date of closing (if there are other individuals who will remove their home after the date of closing this form should be modified for the use by those individuals). This form differs from the previous form in that it requires Mr. Birch to make a security deposit with the City which the City may retain if Mr. Birch does not remove the home within 30 days after the date of closing as provided for in the Option Agreement. I am sending a copy of the general Addendum to Option Agreement (Retention and Removal of Buildings and Improvements) to Julie Kimble and Becky McDaniel. I assume that if they have any comments on the form of Agreement they will provide them to you on Tuesday. As we discussed on Thursday there is still a need to describe in the Development Agreement describing any obligations the City has with respect to the condition of the property at the time the property is conveyed to Opus. Opus will ask that the City agree that the various requirements of the Addendum to Option Agreement (Retention and Removal of Building and Improvements) be satisfied with respect to each property for which the home is removed. The City must decide whether it is willing to accept that obligation and the risk that the City will have to perform the obligations if the property owner does not and later pursue recourse from the property owner or whether the City will only agree to deliver the property to Opus "as is". Very truly yours, ~B~F TLB:se Encl.