Purchase And Sale Agreement printable pdf download

Purchase And Sale Agreement

PURCHASE AND SALE AGREEMENT

(Lease of Land and Sale of Improvements)

DATED:

BETWEEN:

LEWIS & CLARK COLLEGE

SELLER

0615 SW Palatine Hill Road

Portland, OR 97219

AND:

PURCHASER

Seller desires to sell to Purchaser, and Purchaser desires to purchase from Seller, all of

Seller's right title and interest in and to the improvements located on the real property commonly

known as

(the "Improvements") on the terms and conditions set forth

in this Purchase and Sale Agreement (the "Agreement") and to lease to Purchaser the land described

in Exhibit A (the "Land") pursuant to a Ground Lease. The Improvements and land are collectively

referred to as the "Property."

PURCHASE AND SALE OF THE IMPROVEMENTS/LEASE OF LAND. Seller

agrees to sell Seller's interest in and to the Improvements to Purchaser and Purchaser agrees to buy

Seller's interest in and to the Improvements from Seller for the price and on the terms and conditions

set forth below. In addition, Seller agrees to lease the Land to Purchaser and Purchaser agrees to

lease the Land from Seller pursuant to the terms and conditions contained in the Seller's standard

College Housing Program Ground Lease ("Ground Lease"). The covenants, conditions and

representations described in the Ground Lease are incorporated in this Agreement by this reference

and shall survive delivery and acceptance of the deed.

PURCHASE PRICE.

2.1

Total Purchase Price. Purchaser promises to pay Seller as the total purchase price

for the Improvements the sum of $

2.2

Earnest Money Deposit. Upon the execution of this Agreement by Seller and

Purchaser, Purchaser shall pay Seller $

as earnest money deposit ("Earnest Money").

PRECONDITION TO PARTIES OBLIGATION.

3.1

Purchaser's Contingency Period. Purchaser shall have until

to satisfy

itself concerning the availability of financing for the acquisition of the Improvements.

Purchase And Sale Agreement