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05-09 OrdinanceRECORD OF ORDINANCES Du~~ton Lc,al Blank,lnc. OS-09 Ordincuzce No. Passed 20 AN ORDINANCE AUTHORIZING THE PURCHASE OF A 13.895 ACRE PROPERTY LOCATED ON THE SOUTH SIDE OF POST ROAD FOR THE EXPANSION OF COFFMAN PARK IN THE CITY OF DUBLIN, COUNTY OF FRANKLIN, STATE OF OHIO, AND APPROPRIATING FUNDS THEREFOR (THOMAS PROPERTY) WHEREAS, a goal of City Council is to continue to acquire parkland for recreation and open space purposes; and WHEREAS, the 2007 Community Plan, consistent with past planning efforts, identifies the expansion of Coffman Park as an opportunity to create a "central Park" for Dublin; and WHEREAS, funding for the acquisition of the property has been programmed and reserved in the Parkland and Acquisition Fund; and WHEREAS, it is necessary to amend the 2009 Appropriations Ordinance to provide adequate funding authorization for the acquisition of the property. NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin, State, of Ohio, ~ of the elected members concurring that: Section 1. The City Manager is hereby authorized to execute the Real Estate Purchase Agreement and any necessary closing documents related to the acquisition of the 13.895 acre tract of land identified in the attached Exhibit. Section 2. There be appropriated from the unappropriated balance in the Parkland Acquisition Fund the amount of 53,800,000 to account 402-0210-780-2510 for the acquisition of the property. Section 3. This ordinance shall take effect and be in force from and after the earliest date allowed by law. Passed this Mayor -Presiding Officer ATTEST: Clerk of Council ~`~ day o -~ b YGt Q `' , 2009 ~-2., r,~rr nF ntieu City Manager 5200 Emerald Parkway • Dublin, OH 43017 Phone: 614-410-4400 • Fax: 614-410-4490 To: Members of Dublin City Council From: Marsha I. Grigsby, Interim City Manager ~~ Date: January 29, 2009 Re: Ordinance OS-09 -Authorizing the Acquisition of Property Along Post Road (Thomas Property) Summary Memo As City Council is aware, the administration has been working with the property owners for quite some time to acquire this property. This is the final property to be acquired for the future expansion of Coffman Park. The attached map identifies the property to be acquired, the properties previously acquired in January 2001 and the existing Coffman Park. The acquisition of this property is being funded from the Parkland Acquisition Fund. This acquisition has been planned since 2000 with funding from the property tax revenue generated from the City's inside millage being reserved over the past several years for this purpose. The City completed an appraisal to determine the value of the property. The negotiated acquisition price is approximately 5% higher than the appraised value. Section 8.01(a) of the Real Estate Purchase Agreement references the current agricultural use valuation recoupment. Because the property will become parkland, the City is eligible to file an application to defer any recoupment charges. If the City's application is approved (previous applications filed have been approved) and as long as the property remains parkland, the City will not be required to pay the fees. Recommendation Staff recommends that Council approve Ordinance OS-09 at the second reading/public hearing on February 17, 2009. V / ~,~~ '',j r 1 1 `~ r~•~r- ~; . _ .,,e-, 4 ~:< ` r Y; ~~ K t t` ~~ ~ `~ i. G'~Pffman Park ,- ~ ~I ~- _ f j ~ ~~ ,ay t [: ~::. .i „ ~' .. ~ ~ "'~~ Purchased: 1/11/2001 Purchased: 1/11/2001 Ordinance No. 05-09 N_ W E i~ ~~....... S.. -~. cmor•nuuiau 0 250 500 Feet Potential Acquisition Coffman Park ~ City Property °~ df~ G ~ ~ ~ • ,: 4- > ~ -. r" i -i4 .~ ,~ 1 s~_ _ _ _. •:~n i.~ REAL ESTATE PURCHASE AGREEMENT THIS REAL ESTATE PURCHASE AGREEMENT ("the Agreement") is made and entered into on the day of January, 2009 (the "Effective Date"), by and among THE CITY OF DUBLIN, OHIO, an Ohio municipal corporation ("Buyer"), with offices at its City Hall, 5200 Emerald Parkway, Dublin, Ohio 43017, MDT REAL ESTATE MANAGEMENT LIMITED PARTNERSHIP, an Ohio limited partnership ("MDT"), and William M. Thomas, Jr. and Robert T. Thomas, as Successor Trustees of the DOROTHY L. THOMAS TRUST dated May 25, 2006 (the "DLT Trust"), and National City Bank of Columbus, Ohio, as Trustee of the WILLIAM MARVIN THOMAS TRUST dated January 31, 1979 (the "WMT Trust")(MDT, the DLT Trust and WMT Trust are sometimes collectively referred to herein as "Seller" or "Sellers"). Background Information A. Seller is the owner of certain property situated in the City of Dublin, County of Franklin and State of Ohio, such property containing approximately 13.895 acres (said property, together with all improvements constructed thereon, and all rights, appurtenances and hereditaments appertaining thereto, shall hereinafter be referred to as "Parcel A"`). Exhibit "A" attached hereto and made a part hereof, is a graphical depiction of Parcel A showing its general size, location and configuration (the "Site Plan"). B. Parcel A is currently part of a larger tract of real property comprising approximately 21.622 acres and commonly known as Tax Parcel No. 273.000287 (the "Pazent Parcel"). The Pazent Parcel is generally shown on the Site Plan. The Parent Parcel less Parcel A is hereinafter referred to as "Parcel B." Parcel B is generally shown on the Site Plan. C. In lieu of condemnation, Buyer desires to purchase from Seller and Seller desires to sell to Buyer all of Seller's right, title and interest in Pazcel A, at the price and on the terms and conditions hereinafter set forth. D. Buyer intends to develop and use Pazcel A for municipal purposes. STATEMENT OF AGREEMENT NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree to the foregoing Background Information and as follows: ARTICLE I PURCHASE AND SALE OF PROPERTY 1.01 Agreement. On the terms and conditions set forth below, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller hereby agrees to sell to Buyer, and Buyer hereby agrees to purchase from Seller, all of Seller's right, title and interest in Parcel A. (H1422406.6 ~ ARTICLE II PURCHASE PRICE 2.01 Purchase Price. The purchase price for Parcel A shall be Three Million Eight Hundred Thousand Dollars ($3,800,000.00) (the "Purchase Price"). The Purchase Prices shall be payable to Sellers at Closing, in immediately available funds or by cashier's check, adjusted by all prorations, credits, allowances and other adjustments specifically provided for herein. Although Pazcel B is not being purchased by Buyer as part of this Agreement, the parties agree that the Purchase Price includes any and all damages whatsoever incurred by Parcel B as a result of the transaction contemplated by the terms of this Agreement. Subject to the prorations, credits, allowances and other adjustments specifically provided for herein, the Purchase Price shall be divided among the Sellers as follows: % to MDT, '/ to William M. Thomas, Jr. and Robert T. Thomas, as Successor Trustees of the DLT Trust, and '/ to National City Bank of Columbus, Ohio, as Trustee of the WMT Trust. All expenses, prorations, credits, allowances and other adjustments paid or received by Seller specifically provided for herein will be divided among Sellers in accordance with the immediately preceding sentence. ARTICLE III 3.01 Contingent Agreement. This Agreement shall be completely contingent upon Buyer's satisfaction of or Buyer's waiver of the contingencies set forth in Section 3.02 below (the "Contingencies"), within thirty (30) days after the Effective Date (the "Contingency Period"). The date upon which all Contingencies aze either satisfied or waived, pursuant to Section 3.03 or otherwise, shall be referred to as the "Contingency Date." 3.02 Contingencies. The Contingencies are as follows: (a) Phase I Environmental Report. Buyer shall, at its cost, obtain a satisfactory Phase I Environmental/Wetlands Report of Parcel A; (b) Cit~pproval. The City Council of the City of Dublin shall approve of the purchase of Parcel A; (c) City Appropriation of Funds. The City Council of the City of Dublin shall appropriate funds to acquire Parcel A; (d) Other Municipal Approvals. Buyer shall obtain evidence satisfactory to Buyer that the survey and legal description of Parcel A will be approved by the necessary authorities for purposes of transferring Parcel A from Seller to Buyer; and (e) Miscellaneous. Buyer shall be satisfied that Parcel A contains no grave sites or other elements of historic or archaeological status or other matters which would interfere with Buyer's intended use of Pazcel A. {Hi4?2406.6 ) 3.03 Notice of Satisfaction or Waiver. The Contingencies above shall be deemed to have been satisfied or waived, unless on or before the expiration of the Contingency Period, Buyer gives to Seller written notice of Buyer's failure to satisfy the Contingencies. Upon delivery of such notice, this Agreement shall terminate, in which case both parties shall be fully released from all further liability and obligations hereunder. ARTLCLE IV EVIDENCE OF TITLE 4.01 Title Commitment. Buyer shall, at its sole cost and expense, obtain an ALTA Commitment for Title Insurance (1966) (the "Title Commitment") issued by Commonwealth Land Title Insurance Company, through its agent, Benchmark Title Agency, Ina (the "Title Insurance Company"), certified to at least the Effective Date of this Agreement, pursuant to which the Title Insurance Company shall commit to issue an ALTA Owner's Title Insurance Policy (6/17/2006), in the full amount of the Purchase Price, showing in Seller good and marketable title to Parcel A, free and cleaz of the standard printed exceptions contained in Schedule B of said commitment and final policy, and free and clear of all liens, charges, encumbrances and clouds of title, whatsoever, except the following: (a) those created or assumed by Buyer; (b) zoning ordinances and legal highways; (c) real estate taxes which aze a lien on Pazcel A but which are not yet due and payable; (d) easements and restrictions of record acceptable to Buyer; and (e) monetary liens which are the obligation of Seller to dischazge prior to or at Closing without further objection from Buyer. 4.02 Endorsement at Closin¢. Within ten (10) days after the Contingency Date (if this Agreement is not then terminated) and at the Closing, Buyer may obtain endorsements to the Title Commitment updating the Title Commitment to the respective date and showing no change in the state of title to Parcel A. After Closing, a final owner's title insurance policy shall be issued in the amount of the Purchase Price. The entire cost of all commitments and final title insurance policies provided in accordance with this Agreement, and all costs of title examinations made for such purposes, shall be paid for by Buyer. 4.03 Survev. Buyer may, at its sole cost and expense, obtain a current survey of Pazcel A, prepared by a surveyor registered in the State of Ohio. The survey shall include a legal description of Parcel A and shall be certified by the surveyor to Buyer, Seller and the Title Insurance Company. Subject to the approval of Buyer, Seller and the Title Insurance Company, the legal description set forth on the survey shall be used in the Title Commitment and policy and in all documents of transfer contemplated hereby. The survey shall be sufficient to waive or insure over any and all questions or survey. The survey shall show: (a) that Parcel A is not subject to any discrepancies, conflicts in boundaries, shortages in area, nor subject to any encroachments of any kind; (b) the total acreage of Pazcel A, all perimeter lines, all easements and rights-of--way (whether underground, surface or other and whether recorded or observable by physical inspection) for access, travel, transmission of energy or for drainage purposes; and (c) all roads or highways abutting Parcel A or providing access thereto, and all adjacent landowners. 4.04 Defects. In the event that an examination of either the Title Commitment (including any endorsements) or the survey discloses any matter adversely affecting title to Parcel A, or if title to Pazcel A is not marketable, or if Pazcel A is subject to liens, encumbrances, {HI4?2a06.6 } easements, conditions, restrictions, reservations or other matters not specifically excepted by the terms of this Agreement, or in the event of any encroachment or other defect shown by the survey (the foregoing collectively referred to as "Defects"), Seller shall have a reasonable time, not to exceed thirty (30) days after written notice thereof, within which to cure or remove any such Defects. If Seller is unable or unwilling to cure or remove the Defects within said thirty (30) day period, Seller shall immediately give to Buyer written notice of such Seller's inability or unwillingness and thereafter, Buyer may take any one or more of the following actions: (x) waive such exceptions and proceed with the transaction; (y) by written notice to Seller, give additional time to correct such defects or remove such exceptions to title; or (z) withdraw from this transaction and terminate this Agreement. Buyer shall not be required to object to any monetary liens, all of which are the responsibility of Seller to remove prior to or at Closing. ARTICLE V DEED AND OTHER DOCUMENTS 5.01 Deed. Seller shall convey to Buyer, at the time of Closing, good and mazketable title in fee simple to Pazcel A by duly and validly executed, recordable limited warranty deed, or fiduciary deed, as appropriate, signed by all parties necessazy or required by the Title Commitment or Buyer's attorney, free and clear of all defects, mortgages, easements, restrictions, reservations, conditions, agreements, liens and encumbrances, except those excepted in Paragraph 4.01 hereof. 5.02 Other Documents. Buyer and Seller agree that such other documents as may be legally necessary or appropriate to carry out the terms of this Agreement shall be executed and delivered by the appropriate party at Closing. Such documents shall include, but not be limited to closing statements, seller's affidavits regarding liens, unrecorded matters and possession, memoranda of busts, certificates of authority, FIRPTA affidavits, 1099Ss, and, if requested, Seller's Affidavits regarding the warranties and representations set forth in Article X hereof. ARTICLE VI 6.01 Possession at Closing. Buyer shall be entitled to full and exclusive possession of Parcel A after the Closing. However, if Seller executes at the Closing a farm lease on terms and conditions mutually acceptable to Buyer and Seller, then Seller shall be entitled to possession of Parcel A from and after the Closing Date in accordance with the terms of said farm lease. For and during the continuance of this Agreement, Seller shall afford all representatives of Buyer free and full access to Parcel A, for inspection and examination, at reasonable times. This privilege shall include the right to make surveys, site plans, renderings, soil tests, environmental inspections, borings, percolation tests and other tests to obtain any relevant information necessary to determine subsurface, topographic and drainage conditions and the suitability of Parcel A for use and development by Buyer. From and after the Closing Date, Seller shall afford Buyer and all representatives of Buyer free and full access to Parcel A, for any purpose whatsoever. {H1422406.6 j ARTICLE VII CLOSING 7.01 Closing Date. The purchase and sale of Parcel A shall be closed within ten (10) days after the Contingency Date (the "Closing"), but in any event no later than March 20, 2009, which Closing may be extended by agreement of the parties and shall be extended by such time, if any, as is necessary to cure Defects, as set forth in Section 4.04 hereof (the "Closing Date"). The Closing shall be at such time and place as Buyer and Seller may mutually agree upon. ARTICLE VIII APPORTIONMENTS AND ADJUSTMENTS 8.01 Adiustments at Closin¢. On the Closing Date, Buyer and Seller shall apportion, adjust, prorate and pay the following items in the manner hereinafter set forth: (a) Real Estate Taxes and Assessments. Seller shall have no obligation to pay any current agricultural use valuation ("CAUV") recoupments with respect to Parcel A that arise by virtue of the transaction contemplated herein and/or Buyer's subsequent use of Parcel A. Notwithstanding the foregoing, Seller shall pay or credit against the Purchase Price all real estate taxes, together with penalties and interest thereon, all assessments which are a lien against Parcel A as of the Closing Date (both current and reassessed, whether due or to become due and not yet payable), all real estate taxes for years prior to closing, real estate taxes for the year of Closing, prorated through the Closing Date and, except as provided above, all CAUV recoupments, if any, levied prior to the Closing resulting from Seller's failure to continue to cause Parcel A qualify for the special tax treatment under the CAUV program. The proration of undetermined taxes shall be based upon a three hundred sixty-five (365) day year and on the last available CAUV tax rate, giving due regard to (i) applicable exemptions, recently voted millage, change in tax rate or valuation, etc., whether or not the same have been certified, and (ii) the acreage which Parcel A bears to the acreage of the Parent Parcel. Upon making the proration provided for herein, Seller and Buyer agree that the amount so computed shall be final and shall not be subject to later adjustment should the amount credited at Closing be incorrect based upon actual tax bills received by Buyer after Closing. Seller warrants and represents that, to Seller's Actual Knowledge, all assessments now a lien are shown on the County Treasurer's records and that , to Seller's Actual Knowledge„ no improvement, site or area, has been installed by any public authority, the cost of which is to be assessed against Parcel A in the future. For all purposes of this Agreement, the term "Seller's Actual Knowledge" means the current actual knowledge of Andrew F. Thomas, William M. Thomas and Robert T. Thomas without any independent investigation or inquiry. Seller further warrants and represents that, to Seller's Actual Knowledge, neither Seller nor any of its agents, employees or representatives have received notice, oral or written, or have knowledge of any proposed improvements, any part of the cost of which would or might be assessed against Parcel A. Seller has satisfied itself that the sale of Parcel A (and the attendant severance thereof from the Parent Parcel) will not adversely affect the CAUV tax treatment of Parcel B to be retained by Seller, and Seller shall be solely responsible for any CAUV recoupment with respect to Parcel B as a result of the transaction contemplated herein. If the transaction contemplated herein results in a retroactive increase in real estate taxes applicable to Parcel A, then in making the proration provided for herein, the City shall hold Sellers harmless against such increase. (Ni422406.6 (b) Closing Expenses. Seller shall, at the Closing (unless previously paid), pay by credit against the Purchase Price the following: (i) The cost of all municipal services and utility charges (if any) due through the Closing Date; and (ii) The cost to remove any lien or mortgage not assumed by Buyer. The Buyer shall, at the Closing (unless previously paid), pay the following; (i) Recording fees required for recording the deed referenced in Section 5.01 above; (ii) The cost of recording fees, deed stamps and conveyance fees (if any); (iii) The cost of furnishing the Title Commitment and policy referred to in Paragraph 4 hereof; ,~ (iv) The fee, if any, chazged by the Title Insurance Company and/or closing agent for closing the transaction contemplated herein; and (v) The cost of the survey, if any, referred to in Paragraph 4 hereof. (c) Brokers. Seller hereby warrants and represents to Buyer that Seller has not engaged or dealt with any broker or agent in regard to this Agreement. Seller further agrees to indemnify Buyer and hold Buyer harmless against any liability, loss, cost, damage, claim and expense (including, but not limited to, attorneys' fees and costs of litigation) which Buyer shall ever incur or be threatened with because of any claim of any broker or agent claiming through Seller, whether or not meritorious, for any such fee or commission. Buyer hereby represents and warrants to Seller that Buyer has not engaged or dealt with any broker or agent in regard to this Agreement. Buyer agrees to indemnify Seller and hold Seller harmless against any liability, loss, cost, damage, claims and expense (including but not limited to, attorneys' fees and cost of litigation) which Seller may ever suffer, incur, or be threatened with because of any claim by any broker or agent claiming by, through or under Buyer, whether or not meritorious, for any such fee or commission. ARTICLE IX WARRANTIES AND REPRESENTATIONS OF SELLER 9.01 Warranties and Representations. In addition to any other representation or warranty contained in this Agreement, Seller hereby represents and warrants as follows: (a) To Seller's Actual Knowledge, neither Seller nor any agent or representative of Seller, has received any notice or notices, either orally or in writing, from any county, state or any other governmental agency or body, of any zoning, fire, health, environmental or building violation, or violation of any laws, ordinances, statutes or regulations relating to pollution or environmental standards, which have not heretofore been corrected; (H1422406b~ (b) To Seller's Actual Knowledge, the execution, delivery and performance of this Agreement, and the consummation of the transaction contemplated hereby, will not result in any breach of, or constitute any default under, or result in the imposition of any lien or encumbrance against Parcel A, under any agreement or other instrument to which Seller is a parry or by which Seller or Parcel A might be bound; (c) To Seller's Actual Knowledge, neither Seller, nor any agent or representative of Seller, has received any notice, either orally or in writing, of any change contemplated in any applicable laws, ordinances or restrictions, or any judicial or administrative action, or any action by adjacent landowners, which would prevent, limit or in any manner interfere with the proposed use of Parcel A; (d) Except as provided herein, no other person or entity other than Seller currently owns or has any legal or equitable interest in Parcel A and no other person or entity other than Buyer has or will have any right to acquire Seller's interest in Parcel A, or any portion thereof; (e) All taxes payable with respect to the operation, ownership or control of Parcel A which are allocable to the period ending on the Closing, and all prior periods, shall be or have been paid by Seller, and Seller shall be responsible for the timely filing of all returns or other documents required by any taxing authority claiming jurisdiction with respect to any such taxes; (f) The execution, delivery and performance by Seller of this Agreement and the performance by Seller of the transactions contemplated hereunder, and the conveyance and delivery by Seller to Buyer of possession and title to Parcel A have each been duly authorized by such persons or authorities as may be required, and on the Closing Date, Seller shall provide Buyer with certified resolutions, or other instruments, in form reasonably satisfactory to Buyer, evidencing such authorization; (g) Through and until the Closing, Seller shall not, without the prior written consent of Buyer, enter into any easement, lease or other contract pertaining to Pazcel A; (h) To Seller's Actual Knowledge, there are no hazazdous wastes, hazardous substances, or hazardous materials located in, on or about or generated from Parcel A which may require remediation or which may result in penalties under any applicable law; (i) Except as necessary to continue farming for the season, Seller shall not, without the prior written consent of Buyer, alter the natural topography and vegetation currently existing on, in or about Parcel A, including, but not limited to the cutting, burning or removal of any trees, removing any minerals or topsoil, dumping of any soil, fill or other matter, or altering the natural flow of any water courses located on Parcel A; (Hi422406.6 ~ (j) To Seller's Actual Knowledge„ there are no laws, ordinances, regulations, covenants, conditions or restrictions pertaining to or encumbering Parcel A which would, in any way, impair, interfere with or prevent Buyer's intended use of Parcel A; and (k) Seller is not a "Foreign Person" as that term is defined in the Foreign Investment in Property Tax Act. All representations and warranties set forth in this Article X shall be true and correct as of the date hereof and as of the Closing Date, and at Closing, if requested by Buyer, Seller shall so certify, in writing, in form reasonably requested by Buyer. 9.02 Breach of Warranties Prior to Closine. If during the pendency of this Agreement, Buyer determines that any warranty or representation given by Seller to Buyer under this Agreement is knowingly untrue, incorrect or misleading, in whole or in part, the same shall constitute a default by Seller hereunder. In such event, Buyer shall have, as its sole remedies, the right to terminate this Agreement or the right to seek specific performance of this Agreement and recover from Seller Buyer's reasonable out-of-pocket costs and expenses incurred in negotiating this Agreement and performing Buyer's due diligence investigations of the Property. ARTICLE X NOTICES 10.1 Notice Procedure. Any notices required hereunder shall be in writing, shall be transmitted by certified mail, postage prepaid, return receipt requested, hand delivery, or by nationally recognized overnight courier, and shall be deemed given when received or when receipt if refused, and shall be addressed to the parties as follows: (a) If intended for Seller, to: Andrew F. Thomas 10070 Warner Road Plain City, Ohio 43064 Paula T. Ferguson 5815 Leven Links Ct. Dublin, Ohio 43017 National City Bank Trust Department 155 E. Broad Street Columbus, Ohio 43215 With a copy to: Richard L. Dimond, Esq. 261 West Johnston Road Columbus, Ohio 43230 And (H1422406.6 ~ Daniel J. Kayne, Esq. Kayne Law Group 612 Park Street Suite 200 Columbus, Ohio 43215 (b) If intended for Buyer, to: Marsha Cmgsby Acting City Manager City of Dublin 5200 Emerald Parkway Dublin, Ohio 43017 with a copy to: Gregory S. Baker, Esq. Schottenstein Zox & Dunn Co., LPA A Legal Professional Association 250 West Street Columbus, Ohio 43215 ARTICLE XI GENERAL PROVISIONS 11.01 Govemin Law. This Agreement is being executed and delivered in the State of Ohio and shall be construed and enforced in accordance with the laws of the State of Ohio. For all litigation, disputes and controversies which may arise out of or in connection with this Agreement, the undersigned hereby waive the right to trial by jury and consent to the jurisdiction of the courts in the State of Ohio. 11.02 Entire Agreement. This Agreement constitutes the entire contract between the parties hereto, and may not be modified except by an instrument in writing signed by the parties hereto, and supersedes all previous agreements, written or oral, if any, of the parties. 11.03 Time of Essence. Time is of the essence of this Agreement in all respects. 11.04 Assigmnent. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their respective heirs, legal representatives, successors and assigns. 11.05 Invalidity. In the event that any provision of this Agreement shall be held to be invalid, the same shall not affect in any respect whatsoever the validity of the remainder of this Agreement. 11.06 Waiver. No waiver of any of the provisions of this Agreement shall be deemed, nor shall the same constitute a waiver of any other provision, whether or not similar, nor shall ix~anaoss ~ any such waiver constitute a continuing waiver. No waiver shall be binding, unless executed, in writing, by the party making the waiver. 11.07 Headings. The section headings contained in this Agreement are for convenience only and shall not be considered for any purpose in construing this Agreement. As used in this Agreement, the masculine, feminine and neuter genders, and the singular and plural numbers shall be each deemed to include the other whenever the context so requires. 11.08 Intentionally omitted. 11.09 Seller's IRS Section 1031/1033 Exchange. Buyer shall, if requested by Seller, but at no cost to Buyer, cooperate with Seller to permit Seller to consummate and exchange of property pursuant to IRS Section 1031/1033; provided that Buyer's obligation shall be limited to the execution and delivery of documents only, and Buyer shall have no obligation to locate an exchange property or to negotiate the acquisition thereof. Buyer shall not be responsible for any tax or economic consequences associated with any such exchange, including but not limited to, the trust instrument and related documents in connection therewith. 11.10 Survival. The warranties, representations, covenants and agreements set forth in this Agreement shall not be cancelled by performance under this Agreement, but shall survive the Closing and the delivery of the deeds of conveyance hereunder for a period of six (6) months following the Closing. 11.11 Facsimile Signatures. The parties agree that this Agreement may be executed in counter-parts and by facsimile signatures, provided that the original, executed (in blue ink) of any such counter-parts and/or facsimile signatures shall be delivered to the other party within one day following its execution. Upon satisfaction of the foregoing conditions, such counter part and/or facsimile signatures shall be deemed original for all intents and purposes. IN WITNESS WHEREOF, the parties have hereunto subscribed their names on the day and year first aforesaid. Signed in the presence of: SELLER: MDT REAL ESTATE MANAGEMENT LIMITED PARTNERSHIP, an Ohio limited partnership By: Andrew F. Thomas By: Paula T. Ferguson Its: Its: {H1a22406.b) National City Bank of Columbus, Ohio, as Trustee of the WILLIAM MARVIN THOMAS TRUST dated January 31, 1979 By: Its: BUYER: CITY OF DUBLIN an Ohio municipal corporation By: Marsha Grigsby Its: Acting City Manager Attachments: Exhibit "A": Site Plan William M. Thomas, Jr. and Robert T. Thomas, as Successor Trustees, of the DOROTHY L. THOMAS TRUST dated May 25, 2006 By: William M. Thomas, Jr., Successor Trustee By: Robert T. Thomas, Successor Trustee (H1422406.6 Exhibit "A" Site Plan Parcel A and Parcel B =Parent Parcel ~ H0913885.4 ~ MDT Real Estate Management Real Estate Purchase Agreement 13.935 Acres on Post Road, Dublin, Ohio Page 12 of 12