Common use of Purchase Price and Terms of Payment Clause in Contracts

Purchase Price and Terms of Payment. A. The purchase price (“Purchase Price”) for the Property shall be Eleven Million Five Hundred Thousand and 00/100 DOLLARS ($11,500,000.00) and shall be paid on the Closing Date in cash or by Federal funds wire transfer or other immediately available funds, in United States dollars. B. One Hundred Thousand and 00/100 Dollars ($100,000.00) (the “Initial Deposit”) shall be deposited by Purchaser in escrow with Chicago Title Insurance Company as escrow agent (the “Escrow Agent”), within two (2) business days after the Effective Date. Within two (2) business days after the expiration of the Review Period (as defined below), unless this Contract has been sooner terminated, Purchaser shall deposit an additional One Hundred Thousand and 00/100 Dollars ($100,000.00) (the “Second Deposit”) with Escrow Agent. As used in this Contract, “Deposit” shall refer collectively to the Initial Deposit and the Second Deposit, together with all interest earned thereon, if any. If the transaction contemplated by this Contract closes in accordance with the terms and conditions of this Contract, at Closing, as defined below, the Deposit shall be delivered by the Escrow Agent to Seller as payment toward the Purchase Price. If the transaction fails to close due to a default on the part of Seller or if a condition set forth in this Contract for the benefit of Purchaser is not satisfied or removed, and if Purchaser is not in default hereunder, the Deposit shall be delivered by the Escrow Agent to Purchaser. If the transaction fails to close due to a default on the part of Purchaser, and if Seller is not in default hereunder, the Deposit shall be delivered by the Escrow Agent to Seller as Seller’s sole and exclusive remedy, as more particularly provided for in Section 14 below.

Purchase Price and Terms of Payment. A. The purchase price (“Purchase Price”) for the Property shall be Eleven Five Million Five Two Hundred Fifty Thousand and 00/100 DOLLARS ($11,500,000.005,250,000.00) and shall be paid on the Closing Date in cash or by Federal funds wire transfer or other immediately available fundstransfer, in United States dollars. The Deposit (as hereinafter defined) shall be paid by the Escrow Agent to Seller at closing and shall be credited against the Purchase Price. B. One Hundred Thousand and 00/100 Dollars ($100,000.00) (Purchaser shall deposit with the “Initial Deposit”) shall be deposited by Purchaser in escrow with Pittsburgh office of Chicago Title Insurance Company as escrow agent (the “Escrow Agent”), within two (2) business days after the Effective Date, the sum of Twenty Five Thousand Dollars, ($25,000.00) (the “Initial Deposit”). Within two (2) business days after the expiration of the Review Period (as defined below), unless this Contract Agreement has been sooner terminated, Purchaser shall deposit an with the Escrow Agent, the additional One Hundred sum of Twenty Five Thousand and 00/100 Dollars ($100,000.0025,000.00) (the “Second Deposit”). In the event this Agreement is not so terminated and the Second Deposit is not paid to the Escrow Agent within two (2) with Escrow Agentbusiness days after the expiration of the Review Period, Seller may terminate this Agreement and receive the Initial Deposit and any interest thereon, in which event neither party shall have any further liability or responsibility hereunder other than Purchaser’s liability for the Second Deposit and any liability under Section 3 of this Agreement. As used in this ContractAgreement, “Deposit” shall refer collectively to the Initial Deposit and the Second Deposit, together with all interest earned thereon, if any. If the transaction contemplated by this Contract Agreement closes in accordance with the terms and conditions of this ContractAgreement, at Closing, as defined below, the Deposit shall be delivered by the Escrow Agent to Seller as payment toward the Purchase Price. If the transaction fails to close due to a default on the part of Seller or if a condition set forth in this Contract Agreement for the benefit of Purchaser is not satisfied or removed, removed and if Purchaser is not in default hereunderthis Agreement shall be terminated by Purchaser, the Deposit shall be delivered by the Escrow Agent to PurchaserPurchaser and Purchaser shall have the applicable remedies set forth in Section 13 of this Agreement. If the transaction fails to close due to a default on the part of Purchaser, and if Seller is not in default hereunder, shall have the Deposit shall be delivered by the Escrow Agent to Seller as Seller’s sole and exclusive remedy, as more particularly provided for applicable remedies set forth in Section 3 and Section 14 belowof this Agreement. Notwithstanding any provision of this Agreement to the contrary, Escrow Agent’s duties and responsibilities are set forth in the escrow agreement (the “Escrow Agreement”) attached hereto as Exhibit “E” and incorporated herein by this reference. C. Purchaser shall receive a credit against the Purchase Price for an amount of the outstanding principal balance as of the Closing Date of a loan currently held by Bank of America, (“Mortgagee”) in the original amount of Four Million Two Hundred and Fifty Thousand ($4,250,000.00), having a principal balance as of February 28, 2013, of $4,231,428.96 (the “Mortgage”),

Purchase Price and Terms of Payment. A. The purchase price (“Purchase Price”) for the Property shall be Eleven Ten Million Five Three Hundred Fifty Thousand and 00/100 DOLLARS Dollars ($11,500,000.0010,350,000.00) and shall be paid on the Closing Date in cash or by Federal funds wire transfer or other immediately available fundstransfer, in United States dollars. B. One Hundred Thousand and 00/100 Dollars ($100,000.00) (the “Initial Deposit”) shall be deposited by Purchaser in escrow with Chicago Johnson, Pope, Xxxxx, Xxxxxx & Xxxxx, LLP, as agent for First American Title Insurance Company Company, as escrow agent (the “Escrow Agent”), within two (2) business days after the Effective Date. Within two one (21) business days day after the expiration of the Review Period (as defined below), unless this Contract has been sooner terminated, Purchaser shall deposit an additional One Hundred Thousand and 00/100 Dollars ($100,000.00) (the “Second Deposit”) with Escrow Agent, where the Deposit shall be non-refundable except as provided for herein. As used in this Contract, “Deposit” shall refer collectively to the Initial Deposit and the Second Deposit, together with all interest earned thereon, if any. If the transaction contemplated by this Contract closes in accordance with the terms and conditions of this Contract, at Closing, as defined below, the Deposit shall be delivered by the Escrow Agent to Seller as payment toward the Purchase Price. If the transaction fails to close due to a default on the part of Seller or if a condition set forth in this Contract for the benefit of Purchaser is not satisfied or removed, and if Purchaser is not in default hereunder, the Deposit shall be delivered by the Escrow Agent to Purchaser. If the transaction fails to close due to a default on the part of Purchaser, and if Seller is not in default hereunder, the Deposit shall be delivered by the Escrow Agent to Seller as Seller’s sole and exclusive remedy, as more particularly provided for in Section 14 below. C. The remaining balance of the Purchase Price shall be payable in cash, or by wire transfer or other immediately available funds, to Seller on the Closing Date.

Purchase Price and Terms of Payment. A. The purchase price (“Purchase Price”) for the Property shall be Eleven Six Million six Hundred Twenty Five Hundred Thousand and 00/100 DOLLARS ($11,500,000.006,625,000.00) and shall be paid on the Closing Date in cash or by Federal funds wire transfer or other immediately available fundstransfer, in United States dollars. B. One Hundred Thousand On the Closing Date, Purchaser shall accept title to the Property subject to the lien of that certain Mortgage and Security Agreement dated November 15, 2005 securing a loan (the “Existing Loan”) in the original principal amount of Five Million and 00/100 Dollars ($100,000.005,000,000.00), executed by Seller in favor of Bear Xxxxxxx Commercial Mortgage, Inc., and currently serviced by Xxxxx Fargo (the “Existing Lender”) and Purchaser shall assume the Existing Loan. Purchaser shall receive a credit against the Purchase Price in an amount equal to the aggregate outstanding principal balance of the Existing Loan as of the Closing Date. C. Thirty Three Thousand One Hundred Twenty Five and 00/100 Dollars ($33,125.00) (the “Initial Deposit”) shall be deposited by Purchaser in escrow with Chicago Title Insurance Company Company, National Business Division, 00000 Xxxxxxx Xxxxx, Suite 900, Waukesha, WI 53186 as escrow agent (the “Escrow Agent”), within two (2) business days after the Effective Date. Within two thirty (230) business days after the expiration of the Review Period (as defined below), unless this Contract has been sooner terminated, Purchaser shall deposit an additional Thirty Three Thousand One Hundred Thousand Twenty Five and 00/100 Dollars ($100,000.0033,125.00) (the “Second Deposit”) with Escrow Agent. As used in this Contract, “Deposit” shall refer collectively to the Initial Deposit and the Second Deposit, together with all interest earned thereon, if any. If the transaction contemplated by this Contract closes in accordance with the terms and conditions of this Contract, at Closing, as defined below, the Deposit shall be delivered by the Escrow Agent to Seller as payment toward the Purchase Price. If the transaction fails to close due to a default on the part of Seller or if a condition set forth in this Contract for the benefit of Purchaser is not satisfied or removed, and if Purchaser is not in default hereunder, the Deposit shall be delivered by the Escrow Agent to Purchaser. If the transaction fails to close due to a default on the part of Purchaser, and if Seller is not in default hereunder, the Deposit shall be delivered by the Escrow Agent to Seller as Seller’s sole and exclusive remedy, as more particularly provided for in Section 14 below.

Purchase Price and Terms of Payment. A. The purchase price (“Purchase Price”) for the Property shall be Eleven is Seven Million Five Six Hundred Twenty Thousand Six Hundred Sixty and 00/100 No/100 DOLLARS ($11,500,000.007,620,660.00) plus (x) the amount, if any, of any unpaid Tenant Changes (as defined in the Lease) that increase the cost of the Landlord’s Work (as defined in the Lease) reduced by the amount, if any, of any Tenant Changes (as defined in the Lease) that decrease the cost of the Landlord’s Work (as defined in the Lease) and (y) the amount of the Additional Amortizable Improvement Allowance paid to Tenant, if any. The Purchase Price shall be paid on the Closing Date in cash or by Federal funds wire transfer or other immediately available funds, in United States dollars.Buyer as follows: B. One Hundred Thousand and 00/100 Dollars ($100,000.00a) Within three (the “Initial Deposit”) shall be deposited by Purchaser in escrow with Chicago Title Insurance Company as escrow agent (the “Escrow Agent”), within two (23) business days after the Effective Date. Within , Buyer shall deposit the sum of Three Hundred Eighty One Thousand Thirty-Three and No/100 Dollars ($381,033.00) with the Escrow Agent, which the Escrow Agent shall deposit in an interest bearing account at a federally insured financial institution (the “Account”) within two (2) business days after the expiration receipt of the Review Period (as defined below), unless this Contract has been sooner terminated, Purchaser shall deposit an additional One Hundred Thousand and 00/100 Dollars ($100,000.00) (the “Second Deposit”) with Escrow AgentBuyer’s taxpayer identification number. As used in this Contract, “Deposit” shall refer collectively to the Initial Deposit and the Second DepositThe deposit, together with interest thereon, shall hereinafter collectively be called the “Xxxxxxx Money”. Buyer shall be entitled to all interest earned thereon, if any. If accumulating on the transaction contemplated by this Contract closes in accordance with the terms Xxxxxxx Money and conditions of this Contract, at Closing, as defined below, the Deposit shall either be delivered by the Escrow Agent to Seller as payment credited toward the Purchase Price at Closing or paid to Buyer after closing. (b) Upon Closing, the Xxxxxxx Money shall be applied against the Purchase Price. If the transaction fails to close due to a default on the part of Seller or if a condition set forth in this Contract for the benefit of Purchaser is not satisfied or removed, and if Purchaser is not in default hereunder, the Deposit balance of the Purchase Price shall be delivered by the Escrow Agent to Purchaser. If the transaction fails to close due to a default on the part of Purchaser, and if Seller is not in default hereunder, the Deposit shall be delivered by the Escrow Agent paid to Seller as Seller’s sole and exclusive remedy, as more particularly provided for in Section 14 belowimmediately available funds.