323-24 Agreement of Sale - Block 175.14 Lot 2.pdf

PROPOSED AGREEMENT OF SALE THIS AGREEMENT OF SALE (this “Agreement”), made as of the 25th day of November, 2024 by and between THE TOWNSHIP OF WEST ORANGE, (the “Seller” or the “Township”) and RICHARD CALDERON and CHAUTUYEN TRAN (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 175.14, Lot 2 on the Township of West Orange Tax Map (the “Property”), an undeveloped and undersized lot adjacent to the property commonly known as ____ Mellon Avenue; and WHEREAS, on November 25, 2024, the Township Council for the Township of West Orange adopted resolution 323-24 authorizing the Township to sell the Property pursuant to N.J.S.A. 40A:12-13.2; and WHEREAS, on October 16, 2024, pursuant to N.J.S.A. 40A:12-13.2, the Township issued a letter to the owners of the properties contiguous to the Property (the “Contiguous Owners”) providing notice that the Township intended to sell the Property and that the Township was providing the Contiguous Owners, 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.