Purchase of Real Property Sample Clauses
The "Purchase of Real Property" clause defines the terms and conditions under which a buyer agrees to acquire ownership of a specific piece of real estate from a seller. It typically outlines the property being sold, the agreed purchase price, payment terms, and any conditions that must be met before the sale is finalized, such as inspections or financing approval. This clause serves to clearly establish the mutual obligations of both parties, ensuring that the transaction proceeds smoothly and reducing the risk of misunderstandings or disputes regarding the sale.
Purchase of Real Property. If permitted by the Award Budget and scope of activities provided in this Agreement, a Grantee may use the Grant Funds during the Award Term for the costs associated with the purchase of real property (as defined by 2 CFR 200.1) either through the use of reimbursement or advanced funds as permitted in Paragraph 2.3 of this Agreement for the following purposes and consistent with the Grantor’s bondability guidelines and 2 CFR 200:
(a) Cash payment of the entirety or a portion of the real property acquisition;
(b) Cash Payment of a down payment for the acquisition;
(c) Standard and commercially reasonable costs required to be paid at the acquisition closing (i.e., closing costs); or
(d) Payments to reduce the debt incurred by Grantee to purchase the real property.
Purchase of Real Property. Landlord does not yet own the Real Property. Pursuant to that certain Purchase and Sale Agreement and Joint Escrow Instructions, dated June 30, 2004, as amended and as same may be further amended (“Purchase Agreement”), Landlord has agreed to buy the Real Property and Stetman and ▇▇▇▇▇▇ Properties has agreed to sell the Real Property to Landlord. Landlord shall use its commercially reasonable efforts to acquire or cause its affiliate to acquire the Real Property in accordance with the Purchase Agreement by January 15, 2005. It is a condition precedent to the effectiveness of the Lease (except for Sections 3.3, 3.4, 7.1, 18.2, 18.6, 18.14 and 18.18 hereof and this Section, which shall be in full force and effect as of the date of the Lease) that Landlord or an affiliate of Landlord shall have acquired the Real Property. If neither Landlord nor Landlord’s affiliate shall have acquired the Real Property by March 15, 2005, then Tenant may and, if such failure to acquire the Real Property is not due to any default or breach by Landlord, Landlord may, terminate this Lease by delivery of written notice to the other party, effective upon such delivery. If an affiliate of Landlord acquires the Real Property, then Landlord shall cause such affiliate to assume all of Landlord’s obligations hereunder before such affiliate acquires the Real Property or any interest therein (other than the right to purchase the Real Property pursuant to the Purchase Agreement). If Landlord or an affiliate of Landlord acquires the Real Property, then:
(a) Landlord shall properly deliver written notice thereof to Tenant;
(b) Landlord and Tenant shall promptly execute a written acknowledgment that the condition precedent set forth in this Section 18.19 has been satisfied;
(c) Landlord and Tenant shall promptly execute and cause to be recorded a memorandum of this Lease (the recordation of the memorandum shall be deemed satisfaction of (b) above);
(d) Landlord shall promptly cause any applicable holder of a mortgage or deed of trust which is superior in priority to this Lease to execute and deliver the Non-Disturbance Documents to Tenant in form and substance reasonably acceptable to Tenant; and
(e) Landlord shall promptly cause Lawyers Title Company (“Title Company”) to deliver to Tenant an ALTA extended lessee’s policy of title insurance (with the Western Regional exception deleted) insuring Tenant’s leasehold in the Premises under this Lease in a reasonable and customary amount determine...
Purchase of Real Property. If permitted by the Award Budget and scope of activities provided in this Agreement, a Grantee may use the Grant Funds during the Award Term for the costs associated with the purchase of real property (as definedby 2 CFR 200.1) either through the use of reimbursement or advanced funds as permitted in Paragraph 2.3 of this Agreement for the following purposes and consistent with the Grantor’s bondability guidelines and 2 CFR 200:
(a) Cash payment of the entirety or a portion of the real property acquisition;
(b) Cash Payment of a down payment for the acquisition;
(c) Standard and commerciallyreasonable costs required to be paid at the acquisitionclosing (i.e., closing costs); or
(d) Payments to reduce the debt incurred by Grantee to purchase the real property.
Purchase of Real Property. On or before the expiration of the Due Diligence Period, Purchase and Seller shall have entered into the Real Property Agreement and Purchaser or nominee shall acquire the real property commonly known as ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ in accordance therewith on or before Closing.
Purchase of Real Property. Attach any real estate contract. ITEM COST
(1) (a) Contract Purchase Price $282,500 TOTAL PURCHASE PRICE $282,500 TOTAL LAND COSTS $282,500 Amount of Land Costs to be Financed with Bond Proceeds $254,250-
Purchase of Real Property. Borrowers have informed Bank that a Borrower or an Affiliate of a Borrower intends to purchase that certain parcel of real property (the “Real Estate Purchase”) commonly known as ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ (the “Target Real Property”) and Borrowers have requested that Bank consent to the Real Estate Purchase and either consent to financing from a financial institution (“Real Estate Financing”) or otherwise provide the financing in connection therewith upon terms, conditions and documentation acceptable to Bank in its sole discretion. Upon the effectiveness of this Amendment, Bank consents to the Real Estate Purchase so long as the (a) aggregate purchase price does not exceed $2,850,000 and (b) the documents, instruments and agreements evidencing the Real Estate Purchase and the terms and conditions contained therein are acceptable to Bank in its sole discretion. Upon the effectiveness of this Amendment, Bank consents to the Real Estate Financing so long as the (a) aggregate indebtedness incurred with respect thereto does not exceed $1,850,000, (b) the financial institution is acceptable to Bank in its sole discretion, (c) the Real Estate Financing in secured solely by the Target Real Property, (d) the financial institution providing the Real Estate Financing executes and delivers to Bank a Third Party Waiver and (e) the documents, instruments and agreements evidencing the Real Estate Financing and the terms and conditions contained therein are acceptable to Bank in its sole discretion. Borrowers agree to provide Bank final documents evidencing the Real Estate Purchase and Real Estate Financing at least five (5) Business Days prior to the effectiveness of each such transaction.
Purchase of Real Property. The Seller hereby agrees to sell to the City and the City hereby agrees to purchase from Seller the following described real property: The South Forty Feet (S 40') of the West Seventy-five Feet (W 75') of Lot “A” and Lot “B”, All in Lot Five (5) of Block Four (4) of Bidco Addition to the City of Brookings, County of Brookings, State of South Dakota.
Purchase of Real Property. The City of ▇▇▇▇▇ shall notify and consult with the County regarding purchase of real property using funds supplied under this Agreement to the City.
Purchase of Real Property. Purchaser or nominee of Purchaser shall have acquired the real property commonly known as ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇.
Purchase of Real Property. AS A CONDITION TO THE CLOSING of the transaction contemplated under this Agreement, Buyer (or a related entity) agrees to purchase the Business Real Property pursuant to the real estate purchase agreement which is attached hereto as Exhibit "D" and incorporated herein by reference.