2628-21 Agreement of Sale - Block 175.13 Lot 4.pdf

PROPOSED 2628-21 AGREEMENT OF SALE THIS AGREEMENT OF SALE (this “Agreement”), made as of the day of 2021, by and between THE TOWNSHIP OF WEST ORANGE, (the “Seller” or the “Township”) and [BUYER’S NAME] (the “Buyer”). W I T N E S S E T H: WHEREAS, the Seller is the owner of certain real property known as Block 175.13, Lot 4 on the Township of West Orange Tax Map (the “Property”), an undeveloped and undersized lot; and WHEREAS, on February 9, 2020, the Township Council for the Township of West Orange adopted Ordinance authorizing the Township to sell the Property pursuant to N.J.S.A. 40A:12-13.2; and WHEREAS, on , pursuant to N.J.S.A. 40A:12-13.2, the Township issued a letter to Buyer, the owner of the adjacent lot contiguous to the Property providing notice that the Township intended to sell the Property and that the Township was providing the Buyer, the right to prior refusal to purchase the Property; and WHEREAS, on , the Buyer submitted a formal offer consistent with the provisions of this Agreement. NOW, THEREFORE, for and in consideration of the covenants and agreements hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and the mutual promises herein made, it is agreed as follows: 1. SALE. Seller agrees to sell and Buyer agrees to purchase the Seller’s right, title, and interest in and to the Property for the Purchase Price (as hereinafter defined) and upon the terms and conditions hereinafter provided.