HomeMy WebLinkAboutCommercial Property Buy and Sell Agreement Parking Lot 1 425 S Grand Land Sale COMMERCIAL PROPERTY BUY AND SELL AGREEMENT
Dated: 4Zer'll, 2023
Effective Date: dabber 2_ ,2023
1. PURCHASER'S OFFER.
The undersigned: Boji Group, LLC,whom may form an entity prior to the closing of
this agreement and assign this agreement to that entity ("Purchaser"), hereby offers to buy
from the City of Lansing, a Michigan municipal corporation, (the"Seller") Parking Lot#1,
located at 425 South Grand Avenue in Lansing, Michigan with Parcel#33-01-01-16-452-
023, including all of Seller's right, title and interest in property.
Legal Description: See Attached Exhibit A
The property includes all buildings, improvements, appurtenances, fixtures, air, oil,
gas and mineral rights, all tenements,hereditaments, privileges together with any land lying
in the bed of any adjacent street, avenue, alleys, or rights-of-way and the personal property
owned by Seller and used in connection with the operation of the property, all warranties and
guaranties express or implied issued to Seller in connection with any improvements to the
property or personal property(hereinafter collectively called the"Property"), subject only to
the"Permitted Exceptions", and under the following terms and conditions.
2. PURCHASE PRICE.
The purchase price for the real property is Seven Hundred Sixty Thousand and 00/100
Dollars ($760,000.00), subject to performance by Purchaser of the closing obligations
specified in Section 17, and by Seller of the closing obligations specified in Section 16 below.
3. TERMS OF PAYMENT.
The Purchaser shall pay the fall purchase price to Seller by wire transfer or certified
funds upon execution and delivery of the Covenant Deed at closing, subject only to the
Permitted Exceptions.
4. SURVEY.
Within fifteen (15) business days following the Effective Date of this Agreement,
Seller will provide Purchaser with copies of all surveys of the Property in its possession.
Purchaser shall be responsible for, at its cost, obtaining any survey (the "Survey") it desires
and to satisfy the Title Company's requirements to remove any exception that is not a
Permitted Exception from the Title Policy.
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5. CLOSINGADJUST]IMNTS
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The following adjustments, including to the purchase price, if applicable, shall be
made between the parties after the close of business on the Closing Date. Purchaser shall
receive a credit or assume responsibility, as the case may be, for amounts attributable to time
periods following the closing date:
a. Prepaid rent and additional rent(as defined in this paragraph);
b. Intentionally omitted;
C. Prepaid insurance and utility deposits will be credited to Purchaser; and
d. Security deposits will be assigned to Purchaser for holding and maintenance.
6. SPECL4L ASSESSMENTS/TAXES.
a. All special assessments which are or become a lien on the Property on or before
the Closing Date shall be paid by Seller. All special assessments which will
become a lien on the Property after the Closing Date shall be paid by Purchaser.
b. Purchaser shall be responsible for paying all transfer fees and taxes on the
Covenant Deed delivered to Purchaser.
C. Purchaser acknowledges that the Property is currently tax exempt. Upon
purchase by Purchaser, the Property will be placed on the tax rolls for the tax
year of purchase. Purchaser will be solely responsible for payment of tax
obligations.
7. TITLE INSURANCE.
Purchaser, at its sole costs and expense, shall obtain upon the Closing Date an ALTA
owner's policy of title insurance, without standard exceptions, and containing zoning, access
and comprehensive endorsements(the"Endorsements"),insuring the Purchaser is vested with
good, fee simple,marketable and insurable title to the Property, subject only to the Permitted
Exceptions, covering the Property in the amount of the purchase price (the "Title Policy").
The issuance of the Title Policy shall be a condition to Purchaser's obligation to close this
transaction.
a. Title Commitment. Within five(5)business days following the Effective Date
of this Agreement, Seller shall cause to be issued and delivered to Purchaser a
commitment (hereinafter referred to as the "Commitment'), for the Title
Policy to be issued on the Closing Date by the title company, First American
Title(the"Title Company") in the full amount ofthe purchase price. The Title
Company shall deliver to Purchaser copies of all items set forth therein as
exceptions or defects of title to permit Purchaser to review the state of title to
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the Property,including,but not limited to tax appeals, tax liens and financing
statements. All standard exceptions to coverage shall be deleted by the Title
Company. Purchaser shall have the right to require such additional
endorsements to the Title Policy as Purchaser's counsel may reasonably
require, at Purchasers expense. The Purchaser shall pay the premium for the
Title Policy at or before closing.
b. Objections To Title. The Purchaser shall have thirty (30) days from the date
it receives the Commitment to notify Seller in writing of Purchaser's
objections to any exceptions, other than Permitted Exceptions. If Purchaser
objects to Seller's title as disclosed by the Commitment within the time and in
the manner required by this section, Seller shall have thirty (30) days after
receiving written notice of the particular defect(s)claimed either:(1)to remedy
the title defects to the satisfaction of the Purchaser, or (2) to obtain a
Commitment for title insurance"insuring over"the defect(s) in title. If Seller
fails or refuses to remedy the defect(s), or obtain a Commitment for title
insurance "insuring over" the defect(s) in title, then Purchaser may elect, so
long as the election is made prior to the Closing Date to either proceed to
closing, taking title subject to the defect(s) without reduction of the purchase
price, or to instruct the Title Company to return the Deposit to the Purchaser
in full termination of this Agreement and thereafter neither party shall have any
further rights or obligations under this Agreement.
C. Permitted Exceptions. Subject to Purchaser's rights under sections 9a and 9b
above,the Property shall be conveyed to Purchaser subject only to the following
Exceptions,all ofwhich shall be"Permitted Exceptions":
(i) Those Exceptions which are affirmatively approved by the Purchaser
in writing;
(ii) Those Exceptions which the Title Insurer will "insure over" with
affirmative coverage that is acceptable to Purchaser in writing;
(iii) Easements for water, sanitary sewer, storm sewer, electricity,
telephone, and other utility purposes, if any, which do not interfere
with Purchaser's intended use of the Property;and
(iv) Real estate taxes subject to the tax proration provisions of this
Agreement.
8. CONVEYANCE.
a. Upon performance by Purchaser of the closing obligations specified herein,
including in Section 17 below, Seller shall convey fee simple,marketable title
to the Property to Purchaser by Covenant Deed free and clear of all liens,
defects and encumbrances, except for the Permitted Exceptions.
b. This conveyance is subject to Lansing Building Authority approval, prior to
the date of conveyance.
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9. MTPRESPIYT'A7'dONS WARZA1 TIESAND COVENANTS OFSE'.LLEP..
Except as otherwise set forth in this Agreement, Seller represents and warrants to
Purchaser as follows:
a. Seller is the fee title owner of the Property;
b. There are no unrecorded or undisclosed legal or equitable interest in the
Property owned or claimed by any party other than Seller;
C. Seller is not aware of any proposed assessments or any public improvements
affecting the Property which have been ordered to be made and/or which have
not been completed,assessed and paid for as of the Effective Date;
d. Seller has not received any notice of,and has no knowledge of,any existing or
threatened condemnation, eminent domain proceeding, or any action of a
similar kind or any change, redefinition,or other modification of the zoning
classification which would affect the Property;
e. Seller is not currently a party to any proceedings under any applicable
bankruptcy,reorganization,insolvency,or similar laws;
f. Seller shall deliver to Purchaser, on or before the Closing Date, currently
executed tenant estoppel certificates in form acceptable to Purchaser covering
any of the Property that has been leased, each with a full and complete copy of
the lease attached;
g. Seller's interest in the Real Property shall be transferred to Purchaser on the
Closing Date, free from liens, encumbrances, claims of others, except for the
Permitted Exceptions;
h. Performance of the obligations of Seller under this Agreement will not violate
any contract, indenture, statute, ordinance,judicial or administrative order or
judgment applicable to Seller or the Property;
i. There is no litigation or proceeding pending, or to Seller's knowledge
threatened, against or involving Seller or Property, and Seller does not know
or have reason to know of any ground for any such litigation or proceeding,
which could have a material adverse impact on Purchaser or Purchaser's title
to and use of the Property, either before or after closing;
j. Seller shall continue to operate the Property in the ordinary course of business
and maintain the Property in its current condition and repair during the interim
period between the acceptance of this Agreement and the Closing Date,except
to the extent such operating and repair is Tenant's responsibility under any
lease;
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k. If a statement(s) of income and expense with respect to the operation of the
Property is (are) attached as Exhibit B, such statement(s)is (are) accurate for
the period(s)designated;
1. Copies of all written leases, if any, shall be supplied to Purchaser by Seller
within fifteen(15) days after Effective Date:
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(i) All of the leases are in full force and effect; no party is in default
thereunder, and no leases have been modified, amended or extended,
except as provided in the written leases;
(ii) No renewals or extension options have been granted;
(iii) No tenant has an option to purchase the Property;
(iv) The rents set forth are being collected on a current basis and there are
no arrearages in excess of onemonth;
(v) Any security deposits will be credited to Purchaser at time of closing;
(vi) No real estate brokerage commission will be payable under any
existing arrangement upon exercise of any option or other right to
extend or renew the term of any lease;
(vii) Prior to the Closing Date, Seller(1)shall not amend or modify a Lease
without the prior written consent of the Purchaser; (2) shall fully
perform and observe all requirements of any Lease to be performed by
Seller and shall not enter into any contracts or agreements relating to
the operation or maintenance of the Property which would or could
survive the Closing Date; (3) shall not plat, restrict or encumber, or
permit to be platted, restricted or encumbered any portion of the
Property, and(4) shall not grant any licenses, easements or other uses
affecting any portion of the Property or to place or permit or to be
placed on,or removed or permit to be removed from,the Property,any
buildings, structures or other improvements of any kind except as
expressly authorized under the Lease.
in. Seller is without actual knowledge as to the presence of any toxic or hazardous
substances or any underground storage tanks on the Property;
n. To the best of Seller's actual knowledge,the Property is properly zoned for its
current use. Seller has not initiated, nor is Seller participating in, any action
for a change or modification in the current subdivision, site plan, zoning or
other land use permits for the Property and Seller has no knowledge that the
Property may be rezoned; and
o. Seller will not intentionally take or cause to be taken any action which would
cause any of the representations or warranties contained in this Agreement to
be untrue as of Closing.
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10. WARRANTIES OFPURCIIASER.
Except as otherwise provided in this Agreement,Purchaser represents and warrants to
Selleras follows:
a. Purchaser is familiar with the physical condition of the Property and upon
expiration of the Due Diligence Period agrees to accept the Property "as is"
subject to reasonable use, wear and tear between the date of this Agreement
and the Closing Date;
b. The performance of the obligations of Purchaser under this Agreement will not
violate any contract, indenture, statue, ordinance, judicial or administrative
order or judgment applicable to Purchaser;
C. There is no litigation or proceeding pending, or to Purchaser `s knowledge
threatened, against or involving Purchaser, and Purchaser does not know or
have reason to know of any ground for any such litigation or proceeding,which
could have an adverse impact on Seller or Seller's interest under this
Agreement;
d. In entering into this Agreement, Purchaser has not relied upon any written or
verbal representations or warranties made by or on behalf of Seller unless same
are expressly set forthinthis Agreement; and
e. The person executing this Agreement on behalf of Purchaser warrants and
represents that said person is duly authorized by Purchaser to execute this
Agreement and bind Purchaser to the terms of this Agreement.
11.DAMAGE TO PROPERTY.
If between the date of this Agreement and the Closing Date, all or any part of the
Property is damaged by fire or natural elements or other causes beyond Seller's control which
cannot be repaired prior to the Closing Date, or any part of the Property is taken pursuant to
any power of eminent domain, Seller shall immediately notify Purchaser of such occurrence,
and Purchaser may terminate this Agreement by written notice to the other within fifteen(15)
days after the date of damage or notice of taking. If Purchaser exercises the right to terminate
this Agreement under this Section 11, the Good Faith Deposit shall be returned to Purchaser
and this Agreement shall be null and void. If Purchaser does not elect to terminate this
Agreement,there shall be no reduction of the purchase price and at closing, Seller shall assign
to Purchaser whatever rights Seller may have with respect to any insurance proceeds or
eminent domain award.
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12. CLOSING.
Sale shall be closed as promptly as practical after all necessary documents have been
prepared,on a date agreed to in writing by the Purchaser and Seller,but in any event not later
than ninety(90) days after expiration of the Due Diligence Period as same may be extended,
unless otherwise agreed to in writing by Purchaser and Seller("Closing Date"). If sale is not
closed by the Closing Date,this Agreement may be terminated at the option of Seller.
13.POSSESSION.
a. Seller shall grant to Purchaser possession of the Property upon completion of
the closing, subject to all existing leases and rights of tenants then in
possession, which existing leases are more fully described in the attached
Exhibit C.
b. Purchaser acknowledges that Seller currently leases the Property on a month-
to-month basis to tenants who use the Property for parking. For a period of
sixty(60)days after the Closing Date,or such additional reasonable time as is
necessary for the Seller, not to exceed one hundred twenty (120) days, Seller
will work with such tenants to terminate the various leases and assist the
tenants with arranging alternate parking. After such period, Seller will
promptly take any additional actions reasonably necessary to terminate such
parking and allow the Purchaser to prepare the Property for development.
C. Purchaser acknowledges it is a condition of this Agreement that Purchaser
commits to develop the Property within thirty-six (36) months from the
Closing Date; otherwise the Seller will have the right to retake ownership and
possession of the Property. Upon such failure to developer the Property,
Purchaser agrees that it will take all such actions necessary to deed the Property
back to the Seller,free and clear of any liens and restrictions that would restrict
Seller's use of the Property, except as agreed to in writing by the Seller.
14. SELLER'S CLOSING OBLIGATIONS
In advance of closing, Seller shall deliver the following to Purchaser:
a. The Covenant Deed as specified in Section 8 of this Agreement;
b. An assignment by Seller of Seller's interest in all leases which shall contain an
assumption by Purchaser of Seller's obligations arising after the closing,
together with the original or a true copy of each lease;
C. A notice to any tenants advising the tenants of the sale and directing that future
payments be made to Purchaser; and
d. Any other documents required by this Agreement to be delivered bySeller.
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Seller shall pay for all costs required to convey clear title.
15. PURCHASER'S CLOSING OBLIGATIONS.
At closing, Purchaser shall deliver to Seller the following:
a. The cash portion of the purchase price specified in Section 2 above in the form
of a wire transfer in U.S. currency, as adjusted by the costs, apportionments
and assignments in accordance with this Agreement;
b. The assumption by Purchaser of the obligations of Seller under the Leases
and other contracts; and
C. Any other documents required by this Agreement to be delivered by
Purchaser.
16. ENVIRONMENTAL.
During the Due Diligence Period(as defined further herein) or any extension thereof,
Purchaser may,at its expense,conduct a Phase I environmental site assessment of the Property
in accordance with ASTM International Standard Practice E1527-13 ("Phase I") and such
further sampling and testing of soil, groundwater, soil vapor, indoor air, or any other
environmental medium or building component at the Property("Phase II Work"). Purchaser
and its environmental consultant shall have the right to interview representatives of Seller
who have knowledge of conditions and events relevant to the operating history or
environmental condition of the Property. If the Property is a"facility"within the meaning of
Part 201 of the Michigan Natural Resources and Environmental Protection Act, MCL 3
24.20101 et seq. ("Part 201"),or determined to be contaminated property within the meaning
of any environmental statute, Purchaser may, at Purchaser's expense, prepare and submit to
the Michigan Department of Environment, Great Lakes & Energy a"baseline environmental
assessment,"or`BEA,"pursuant to Section 26 of Part 201,MCL 324.20126. Purchaser may
also, at its expense, prepare a plan ("Due Care Plan") to meet due care obligations at the
Property imposed under Section 7a of Part 201, MCL 324.20107a. If any environmental
condition disclosed by the environmental assessment is unacceptable to Purchaser, then,
Purchaser may terminate this Agreement, in which case the Good Faith Deposit shall be
returned to Purchaser.If it is determined by Purchaser to be necessary to file the BEA,the date
for closing shall be extended by sixty(60) days.
It is hereby acknowledged that neither Purchaser, nor its assignee, assumes any
responsibility or liability that Seller may have as a result of the environmental condition of
the Property that may be imposed upon Seller by any state, federal or local law, rule,
regulation or ordinance (including, but without limitation, a requirement to report, assess,
investigate, abate and/or remediate the Property), resulting from a release of petroleum
product or hazardous substance(as defined under CERCLA, 42 U.S.C. Section 9601 et seq.)
upon the Property during Seller's ownership or operation of the Property, and Seller shall be
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responsible for compliance with any such requirement,if any.
17. PURCHASER'S CONTINGENCIES.
This offer and the obligations of Purchaser hereunder are contingent upon Purchaser's
receipt and satisfactory review and approval of the following all of which must be satisfactory
to Purchaser in its sole and absolute discretion:
a. Survey,the Title Commitment and Title Policy;
b. Inspection of the Property by Purchaser by a licensed contractor and/or
inspector of Purchaser's choice. Purchaser shall have the right to enter upon
the Property during reasonable business hours for purposes of inspections and
tests;
C. Purchaser obtaining all necessary site plan and land use approvals for its
intended use of the Property from all governmental entities having jurisdiction
over the Property and the Property being appropriately zoned for Purchaser's
intended use;
d. All easements and restrictions;
e. Phase I and II environmental assessments and Baseline Environmental
Assessment if determined necessary,;
f. All legal and financial documents, leases,service contracts and other
documentation;
g. Available public incentives;
h. Representations and warranties contained herein are accurate and correct as of
the date of Closing with the same force and effect as those such representations
and warranties that have been made on such date;
i. Purchaser's receipt at its own costs and expense of an engineering report or
study to its satisfaction of the Property, including, but without limitation, that
its soil condition and drainage is suitable for Purchaser's intended
developmental use;
j. Legal description of the Property-Exhibit A; and
k. All laws, ordinances,rules, and regulations which govern the Property.
It is agreed that in the event Purchaser is not satisfied with any one or more of the
above in its sole and absolute discretion, and Purchaser does not notify Seller of the removal
of the above contingencies within 180 days of the Effective Date of this Agreement ("Due
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Diligence Period"),then this Agreement shall be null and void. Purchaser shall be entitled to
a full and prompt refund of its Good Faith Deposit,less reasonable expenses,and neither party
shall have any further liability to the other. If Purchaser does so notify Seller of the removal
of all the above contingencies, this sale shall be closed as promptly as practical, and before
the Closing Date, after all necessary documents have been prepared.
18. ACCESS TO PROPERTY.
Purchaser and its agents and representatives shall have the right, during normal
business hours and after reasonable advance notice,to enter upon the Property during the Due
Diligence Period for the purpose of conducting such inspections,investigations and studies as
Purchaser deems reasonably necessary. Purchaser's access to the Property shall be subject to
the rights of tenants and Purchaser shall not unreasonably disturb any of the tenants in
conducting any inspections, tests and studies. In the event of any physical damage to the
Property resulting from the exercise by Purchasers of its rights under this paragraph,Purchaser
shall restore the Propertyto its condition prior to incurring such damage.
19.NOTICES.
All notices, requests, demands or other communications required or permitted to be
given under this Agreement shall be in writing and deemed to have properly given: (i)two(2)
days after the due date of mailing,if mailed by certified mail,postage prepared return receipt
requested, directed to the parties at the addresses set forth below; or(ii) on the date of actual
delivery (or refusal) if personally delivered or served upon the party to be given notice
hereunder; or (iii) one (1) day after the date of delivery to an overnight courier service with
all fees prepaid, directed to the parties at the addresses set forth below;or(iv)upon receipt by
the sending party of successful transmissions,if sent by facsimile or electronic transmission,
to the parties at the facsimile numbers or e-mail addresses set forth below.
To the SELLER: City of Lansing Department of Economic
Development and Planning
Attn: Jordan Hankwitz
316 N Capitol Avenue, Suite D-1
Lansing,MI 48933
Phone: (517)483-4060
With a copy to: Office of the City Attorney
124 W. Michigan Ave., 5ch Fl.
Lansing,MI 48933
Phone: (517)483-4320
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To the PURCHASER: Boji Group, LLC
Attn: John N. Hindo
132 N. Old Woodward Ave.
Birmingham,MI 48009
Phone: (248) 909-9416
JHindo@bojigroup.com
With a copy to: Attorney for Purchaser
Mekani Orow Mekani Shallal& Hindo PC
Attn: Alexander J. Shallal,Esq.
Phone: (248)223-9830
alex@momshlaw.com
20. ADDITIONAL ACTS.
Seller shall provide to Purchaser within fifteen (15) days of the Effective Date,
complete copies of the following; (1) all existing site assessments, environmental reports,
engineering reports,soil,radon,hazardous substance,termite or other tests,studies or reports;
(2) all plans, surveys and specifications for the Property; (3) copies of contracts and service
agreements affecting the Property which will not be terminated by Seller prior to closing;
(4)itemized and inventory of all personal property owned by Seller and used in connection
with the operations of the Property; (5) current rent roll, current tenant ledger, current
delinquent report and all leases (with any and .all amendments and all tenant
correspondence); (6) full set of plans, working drawings including, but not limited to, all
changes, updates and as-built; (7) any other relevant useful information Purchaser may
request.
Purchaser and Seller agree to execute and deliver such additional documents and to
perform such additional acts as may become reasonably necessary to effectuate the transfer
contemplated by this Agreement.
21. ENTIRE AGREEMENT.
This Agreement contains the entire agreement of the parties with respect to the sale of
the Property. All contemporaneous or prior negotiations. have been merged into this
Agreement. This Agreement may be modified or amended only by written instrument signed
by the parties of this Agreement. This Agreement shall be governed by and construed in
accordance with the laws ofthe State of Michigan.
22. PURCIIASER'SDEPOSIT.
Within three (3)business days of the Effective Date of this Agreement, Purchaser
shall deposit $5,000.00 evidencing Purchaser's good faith (the "Good Faith Deposit"), said
Good Faith Deposit to be deposited with the Title Company("Escrow Agent")trust account,
in accordance with current State of Michigan licensing regulations, and apply as part of the
purchase price. If title is not marketable or insurable, or if the Purchaser does not remove the
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contingences pursuant to paragraph 19 above, or if Purchaser terminates this Agreement
pursuant to other terms and conditions expressly written herein, or any other
contingencies as specified, which cannot be met, this Good Faith Deposit will be refunded
forthwith. In the event of default by the Purchaser, the Good Faith Deposit may be forfeited
as liquidated damages to Seller and shall be the sole remedy for Seller. In the event of any
default by Seller hereunder,the Purchaser may,in addition to any other remedies that may be
available to it as law or equity, elect to enforce the terms of this Agreement. In the event
Purchaser seeks to enforce the terms of this Agreement,Purchaser shall be entitled to specific
performance. All remedies are cumulative.
23. EFFECTIVE DATE.
The Effective Date of this Agreement shall be the later of(a)the date on which Seller
executes this Agreement,or(b)the date of a written acceptance(by either Seller or Purchaser)
of the final counteroffer submitted by the other party.
The Effective Date shall be entered in the upper left-hand corner of the first page of
this Agreement and shall be initialed and acknowledged by both parties.
24. OTHER PROVISIONS.
A Purchaser and Seller represent and warrant to each other that negotiations relative
to this Agreement and the transactions contemplated hereby have been carried on by the
parties without the assistance of any broker, finder or other originator who is entitled to a fee
or other compensation or commission for such services. Seller assumes full responsibility for
any commission due.
25. ASSIGNMENT.
Purchaser may assign its rights under this Agreement with written approval from
Seller,provided,however,that such assignment does not relieve the original Purchaser under
this Agreement from liability under this Agreement.
M CONFIDENTL4LITY.
All leases, surveys, environmental reports, inspection reports and other information
provided by Seller or Seller's agents, attorneys,consultants, accountants, and experts shall be
deemed confidential information which Purchaser agrees not to disclose to third parties
(except for Purchaser's agents, attorneys, consultants; accountants and other professional
advisors)without Seller's prior written consent.
Seller further agrees that Seller will not disclose the fact that discussions or
negotiations are taking place concerning this transaction except on a need-to-know basis only,
including but not limited to the process for all Necessary Governmental Approvals (defined
below).
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2Z NECESSARY GOVERNMENT APPROVALS.
After the Effective Date, as a condition to any obligation of Seller to close this
transaction,Seller will submit this transaction for review and recommendation by its Planning
Commission and subsequently for review and approval by the Lansing City Council,pursuant
to Lansing City Charter and Codified Ordinances("Necessary Government Approvals"). The
recommendation of the Planning Commission and approval of Lansing City Council are
independent, and may be given or withheld at the sole and unreviewable discretion of each
body. If Lansing City Council does not approve this transaction, then Seller shall have no
obligation to close this transaction,the Good Faith Deposit shall be returned to Purchaser, and
this Agreement shall be null and void.
28. LIST OF EXHIBITS(which may or maynot be attached).
• Exhibit A-Legal Description
• Exhibit B - Statement of Income and Expenses
• Exhibit C -Leases
The parties have executed this Agreement effective on the date and year first above
written as the Effective Date. i
[The remainder of this page is intentionally left blank
Signatures are contained on the following page)
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PURCHASER: SELLER:
Boji Group, LLC City of Lansing
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By: At - I By:
Ron J. Bo 4� chor
Its: President Its: Mayor
Approval as to Form:
Its:
076492.000039 4870-1988-2096.6
Signature Page—City of Lansing Lot#1 Buy Sell Agreement
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