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20211132 68 Weibel Ave Special Use Permit Purchase Offer-Letter of Intent
z,rTTr�z oF iN�re�vT n7aren a,zaz2 New York, N�w York 10013 Gan- The purpose o#�tliis Lcttcr ut 3ntent (��LO]") is to outline the terms Pursuani�o�i'hi�l��clieitt nf��� I'artnea-s. LLC (`�') is �,rillin� to p�-c�cecd ���it�� tl�e p«�-chase ��f the fce int�i�es� ol 6� GVei�el :1��e��ue� 5�raio�si S}�rin��,.\�" ]?8G6. 1. Purcl�ace Yrice €�nd Ternls: Tlt� E'urcl�as� l'rice to be pai�l b� [h� Buve�' far Tfte �'rapertt• is� �� t17e"P�ai-chatie Price"),���hicl�s��;�lt�re��7yah1�ir� ca;h at Glasin�. 2. Asset to t�e I'urch�ased: Lai�ci Parcel �� �6J091{�6130I. ��0910�ta'UI (�Ucibel A��e�r�re Sa:iral��,a Sprints. N�').:1p�xc��ii��atels 62.� =i-acr�:s .i. F.3rnesk�Ioncti•De�osit: S�N• 4. Definiti��e:�Qreemenk: ��'itljii�fi�c(�)busarress da�s of'tl�e mutual �x�culion��f ihis L�t[�r ot Intent.Seller sl��tl subs��it z��bu�'er a draii L7etiiiitivc A,re�:m�:nt.1'ar hrn��r's r���ie���ar�cl cc�n�meait.�l�liis Letter t�f Inteitt is i���t bindin� on cit1zet- ��1`the parti�s t�nless ��ic� uutiI tliz �arties �Za��e negotiat��l and si�nzci tli� I)eli�iati��e :���rzenzent. �. llue�ili�ence: �urchaser��ill I�a��e a iiiiz�:t`•(�0)c�a���lu�dili�eii��perio�i to i�evie`� �m �ir�il all d��cument5, n�aterials, and e�ue difi��enc� inFannatiou relatin« ��� the E'r���rert� (tlYe "Duc;Dili��nce Peric��l"). Tl�� S�lle�- �`�il] prcn�ide Purcliaser and i1s ageii[s ac�ess t��tt�e Yrc�pert���,��i�[�no less than t�ti'enkti-li�ur(24}h��urs' i�atice t�� �ellea�. Slioulcl Purchaser at anv time�u�-i���tl�e L7u�Dili�xence Period con�lu�e it is izot satistied t��i�h�l�e Yrop�rtt f��r a�i�� r�asc�n, or no reasoi3 ai all, tl�e Purcllaser nill nc�tif'v tl�e 5eller ��id rs�ei��e an iminedia�e C�fllll�O{l�l����OSkt. 6. Clasine D.�te: Closiuv shall takeplace slo n7�re tliai�GO�la���fraai ti�e cti�iratic�n�f tlie�3ue dilit�ence p�riod ��r �l�e date i�t ���l�i�lb a11 municipal appro���ls�fre i-e�ei��e�i.��hiclle�°er oec�irs fii-st. CI<�siii� to t<�ke�1;r4�at t� Iacation c,CSeller's cffoo�ing. 7. 4urvcrs. �T�ns.}nd Glther Dtte Dili�Ten�c�T.jterial: Seller a��r4�s tc,�rcn=ide Yur�lz;�ser(for Pt�a-clias�r's sole i�se)an��sun e��s, conce�t plails.e����iroizautntz�l re��rt5 or��tl�..r pwrtin�nt in1�,i�nrltic�i�tliat seller iz��ti, 17��e 1t�l�icl3�rl<���assist PurclSas�r ii�I�Ere.Dili,��i�ce and Apprc}���ls. 8. I�iflr; C.Tp�n acc�ptance i�1�this Tenn She�t an�tl7ro���1�lhe cl��sina oi�the transa�ti��i�c�ntem�+late�i b�� this Tzi�n Sheet. Sell�:r sI�all m�iintain�rc�od anc�marketable titl�tu the Pr��pertt� �vl�i�l� shall t�e ii�ll� i«surahlz b�•a iitle ct�mpany t�po�i staii�aa-�]ten��s and�� rigutaF-rates,P��relrerser shall i,btain a comii7itment fc�r titla iaisuraijc�f��r the Propert��. �. Escl��sive�ie.�otiations: In considerati��n��L Purcl7ascr's iatrt�rri«`le,yjl,proiessi��i�sl.due iiili4���ce and c�[I7er f'�es isi connection��itli ihe prc�posed purclrase of Clie Prc�}�ern�, 5e11er agrses i�ot t��c�nduc[am ��e�otiatipns n�itl�any otlrer gart}�re��r�iine a p��te�lial sal�ot Ehe Pro�ert��a��er[hE�tcceptt+nce c�ftl�is Te�n Sheet,c�urin�tlia�eri��cl r��iiiie tlie Pureli�is�_'���reeiz�ent is bein�negotiated�ii�d di-afie�3nd w'I�ile sucli Pur�hase A�i-eerti�nt is in eff�ct. 10. Ftea!Estate I3rokerc: 13ot1�P�i�-ties r�c��nize lhal�3nh� �l, LL �l�ei��in�•ol�cd ii� iis�ransactian and o nTer ,r���era�� is iluc a comm���ion. Seller,���rees t��pa}� _LLC� fe�oT��f tlie sales pricc at�Ic�sir��. 11. Confidentiality: This letter, lts contents,the fact tf�at the parties are cor�sidering the patential transactian and all negotiations and discussions concerning the subjett matter of th�s Letter 5hall be considered confidentiaf information and�vil1 not be disdosed to anyane other than a party's representati�e or agents. The p�rties a�knowledge that they have not attempted Yo set for#h herein all of the terms of the subject matter af this proposed transactian and that additional#erms, indudir�g, without firn'itation, representations and warranties, eonditions precedent, ar�d c�efaul# and remedies pro�isians, have not been agreed upon by the parti�s and are subject to further negptiations and incorporatinn into th� Definitive Agreement. Sh��uld tl�e t�rnis of tl�is p�-opos��il be aecept��ab3e,please indie:�te sucl7 cu�isent Li��executiri�this lett�r h�l�����. S�LL�R: I3Lr1'F;�i: . LLC By: E3y: Printed Name: Printed Narne:.�• IYs: ft's: Authorized Sagnatary �ated: f?ated: ��gr�� 4 � f�1_ �.�i: �', :l�'£'��� �'r�h°h' 1_}�rr r � r�ia�ch 1t, ac�22 3�ir.Gac}� Sio�e_ I �" �)���1+P��1 "�#1"" _ '3 C::Ctf T� � � ,��.�"t�'trdC�4 D�:��:ri 1�#lG 1�t t�[ali��� rcau�hE�� 7� a�r�;s, �.vitU f c+nt�.�c on l�+'4i1�i;1 r1��c»u� as w-c.�l ;�s L�uile.n Aa��n��: i�s �ar,�ttv�a S�rin�s,;�4"4ti�'or�; th�"' � y�'�, £}ear Garv; 'Il�is IL�ter(`"L,ittcr"} scts fi�r,�� t��v tGTcns �.nd�.�ndit:�n.5 u�,.�n titi�hict�N�N LLC :and c,r i�s.�'s��li��tes �',Purchaser•„) i<<ti-ilii:t�tw, pur::.}�a.4c: Il�e Pr<�ncr;}' tf�a�.� ��.u, ���Se1Ce�r"� Tl����ferc:tl tern�s of�il� tr�t�savti�sn ;�rc_a.�fc��lotvs' Pt�rc�hcrse Pric�: 11 .�.. 'r", f r tE rti-E��r[y` iw �:;uhjecC t��p�+Ct7y'als fr�+��1 �_1 uc� :.iu.��7; .c:, .f�r��rrr��if: �lp�iy �cc�pt,zccnc���f this [,�:ttc:b� �z�ll�r, Fi:s+;t�5�� � �R� Sct�cr���ill tii�ork ir�goc�d C{�illi Tn cxccut�. x , r�iutualt����c�e�t.ibl� �c�rck�e a�i�S�IL :���t��r�cnt (thti :`,��;rc�-n�cnt""� ���itEtin 4,��r�t�•�an�: (21) cal�nc��er c#�.4's fnll�so��en� t�ye c�at4 h�:�uof, Dz-��c+sit.� Up�n e���:.utic�n pf ihc Agrc�n�u�t bv Pur�E�ss�r art:i 5�11Lr, Pur��#�a.��.r s�t�l1 de�a�st[irs[�t44rc ' ci���E; u�e t��im �ru�sf�r} thc 3n�oi�s.t uR :��� ' "lt�itial Dcpasit"} t�a h�; h�ld f.��� Ylai: l�u:L. :�L;�.�'s liif� ins:;r„��cc cc�s:t�.�.�tt ay ::s�rt7�'�° a�;�:-nl :�t C�!r.,sin� (�r�s herrii���:t��fincc�). t3��_�c7t,zl �rra�ii�a��#` thc L7�:�asit�E<a�l '��; cr:�dicG� a���i�ist c�c U::v�l�p[�1C�tt Es-�t�»ti� �ti cf�scribcd bcl�sw, Duc�I)i1i,�enc�f'etiar#: i�ur'cli�.sc;r st�al� cc�m��lct:; tts c�uu �iE�;;�:r���-�i ils s�lt� c.�st �:nd i�RFt.nst:r��ithin [�im` t:?��;Y 4�l�:tid;tc-�:t�y (tfic "C�ur Dili�cncc Pcriosi") tolE������s� ���c:uli�,►Y � ul'[���a a��;recmcnt ,�t�d �4c:.i��t c�f�ll �ili��;v:n�c m:�tcrial� fr�m S:llrr(ts� tti�extrnl in Still�e"s }xa5scs�;ann), '�+�hicll 5}i1�I ii��.lu��, t�5ut z�i�t ��_ ]iiiii[Ld t{}t]7G Sl'1�'4�k:SS, 4�lSlLI1L �I:sti�'7il'`;5 �ilt� a�.''�l'S. 4�.isti���;thirc�p.1rt�' rt��ta7t5, GnY'�rC111tzG�ti1� :3t➢i� C11�1I�4'CEIi�� r��i�.�rts ancf an��c�thc:r r�let�,�nt � aet��.�rrtta�ipts ���11iCi1 m;t�` I7�: Cv;�5+7Ct�?I4 Tvl�llC:;C�L �1�' � i i Purc�a��r i'et�tt� SelE�.r. S�.iZ�r�r,�.s u� �:;;�r� ��i s�ifr�rnia;ICi?7 tEE lEti�3i"�SCc�;:��ir, I'ra��r�:sed l��'se nf Prr�1�c�n4�: Pur���scr as�,rc�:s t��cs�:l�p cl�c �'ria�.�rtw� as a f,i� ni;�rl;et. �i<<cCcifami�y co�tt[�Esyx. F�rch;�=er�hal� m:�k� ���.�:;d faith �:f+'��r#i�i t►fat•�in.���-r�l,�ls �'�� � �ii��ti� ur7ic� a�t17c ]c�c�21 :��athcjn€ics sh:!! �er�7�it. � �`1u�i�1,��Drrte: �ti�r�h;�s�t' 4��i31 �lc�se !hc tr,�et����iti}�t (Cf�� "Clo�ing.,) ���;t��1it� tl�irt�� 1;3U) d3y'S t��Ila7tai�y� �;�:isi::clnr�� c�tr��d�[i�,� ot t1�c L3t�c Dil:i;�.n�4 P•.:n��cl. B���ti �.�r;i�:s zc��cr�y1���.r. th�r4:.rs n€� �ir��Ccf��d as Cvmmi.cs�un: �t�„h �� hrtk�.r�e� t�� is tdiic;. Star�c�s7ill�cr,ucl: t;�?�#1 E1l:Ct��3t�SiCC C?FtI1l5 Lt'.tf�'r �)y' S�9lcr, an� i�t c�nsi��:r.itic�at ��f tl7v eFtart and��c�,;ns�. E�t.t +ti�il3 t��� rt��:rcd i� ���tvrrtti I'urc�r�s da��dilGkcn�;c rc.�tic�e•. �cllcr agrLes tl�at at�ti�i3] sr�rt cntcr i��cu�n�. {;7m1�af {w•1lltCll 4t��ttriti;**:C3�t ti� cp115tatTlaiS�t.�.:`I �.:11�. tra�l5��c�ic�r��ti�:i�� c�r��� par[�.� �::tl��tr �lr��� ��.:r�h:�;:;� �}CJc�f i��:���:T;!!l3C��1�:f 9�14' Uut; ❑ili��.n.�; fCrl�� .^.11c1 �`I?:�1ilG� �.'dlTt�.'}'r��i`�itt'1' �Ci4C� 17��7C 4:7C�li;C �L'fi[El!]il�il?Il C7�t�115 �,C�t'f. �ilI"fFt� ��aC ���i�i�[11��i'�� Pc�«t�". Sc;lCer �tiill >>��i: zhc �'n�prrn ;�� ur�tl:.r Ci}p:T:34f lI1 TL`�S�I�IlSI' [�:J �1L1.�,` ]l�l�iFl�lt'S. Ucr�cla�rl�c��t F.� _ � � i;�:K�n [hL t'lt��sng. f'urei7���r; - l � • �c��ii il�c 5��in ��rf�: .n additi�n Eo th�� �Initi�� L)�p�asit, �c�r a lui:;l c�f,' iu �� "I)�ti�;:En��mcni ".;c:t�ti�'". �I3:� L��vetca��rn�:�t E��ro�r� sk�a�! E�� us4ri b�� f�ar�.hase!'[� {::�� :� .rchitcc:s, cnei���e�s, l.�t��}�i�;ts, �#�nZc}'s,2nd alf s�lh�r�ir�f:s�ioi��.ls €tticess:��t�a ��bt.:in ,3�p�u��aJs �1d €a�:m�its frc�«t �If tocaf �,�tli�ritie� tr�bt�i1� :� tttu.�t�l4uyailr c{�m�+l,�. [n tlSc �;v�t�t t�G�[ P�er�l7:���:r ctz���-�c,.s tt�i to��cav�. fc�n�.-ar�f taii]7 the�1����[��srs:ir�t ����j«.t.tl��n i� al��[l �s[Etrn Ci'.I��f ti,c E'r���;�rt�� ;� S�lIer, it sE�;=i3 �'ecs:ivea rcfuttcl �Ft�ltl�; u»����7t�nrtsc�n t�f tl�U F?��r�l�p,.s�.�i[ �s4rntit� s��cj t1t� 4�t�is�� ��,�,r:: ��r��::����ic.t, i3lc�udin�, buc n�t [trttit�d, co �-,1���, sy7�:�;.st�G�li;.� a+,.i r��urks, st►�11 bc�c�rEs�,. �h�: �.,r��F•���tti -� ��;icr Purct�,�tscrae,rcc� t��ai it m�3;ct �uii.� a rc�����tiuni of�us,i.s,vr�3� a n3initiius:s �ci�;; ;:.f��>r S411er nia4���1i5C�c1 Lliis �eal, [���'�]l;C 4aTkCLIS tk1C lj�� �14F1 Pl1CC�1:13Gt s�i�ll rc:t�,m tllc f��.�.�1 in tht; i'rop�;m•, it s���ll rc`�ir'C :l iLtlI11C� cJE�1�7C UR.5�7;:nt �,orti��n c�f th�. t);:�:.l��r*r9�E�[ �.�:r�-�ti���t����� tt��. i:nt:cc�vor�: prv�iuct, ir�clu�ii��, 1�u�r:c�t lErt�t€�;c�, [u�al:u3�, s}�c�,st�►ilic� at�c� rep�it�s. �hail Gwr;n��c: thc prcpert�� �FSclfcr �:xcc�t far thc pm��isit�a��� t�i'thss I.ctt�:r�;t '['�rt�ti in tk�c scct��ns �apUc���d'`S�;u�dstill P�ric�d", tt�is �.etier is ii�t iiitene��c� r�� bc lrgalE�� L�i��din�ort!a ��ip�s�. �riy c�?�ligatiars diy �.�s�y p�rtti• to�rre io �hc tcmis�f tf�e :'��Te�:ti.iucnt. PE��s� in�ic�te Yc,*e,c:�cccpk�racc ui t�sL t�rns:i.*�c[cc�i��itic�f�s csf this I..cticr��' rc:�un*:�x�,an e��:Cttted �p�'ta »7� �t��c�ur ti�,�nd•�ttil.�iti:�. i'1�:_aa� ficl �rcc€� cr�l� �ric�atN�t� �lis`;�ss as�}� p3rt �f't�7is j�r�g�c���4. ! 1s���C �OIl'�'.'ift� [131t'LC�3I�� 4�'1Y�] �r'+JLI C1C! ��liti t�1151�.C1Q13_ � . E. � $�'; ��.1]3C: rc1�.: n�t.�:���s�:� . �.._. A�re�cl�A��CII�LVI�C��["LI c�P1{I AGf��][etj JS()Et�i�{Ji�t� llQt�t���?(}1��; ��'' �;137]t;: . --..__ �F[��.; �'vtZtES��Cf