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_ t _ �� <br />5. If the EDA chooses to continue with the acquisition, a fee appraisal will be ordered <br />to determine the purchase price of the property (to present to the seller), the reuse <br />value as a vacant lot, and a finished price range for new single family construction <br />(to present to the developer). <br />The independent fee appraiser will be carefully instructed to document in specific <br />terms the conditions of the property; details regarding structural corzt�ifiion and <br />floor plan. The acceptance of these conditions in the marl�Pt pl�c;�; �hould be <br />discussed in the report. The appraisers value judgeme�7� ���G���'t{� ��;flect these <br />conditions. . . <br />6. If the seller agrees to the purchase price at�t�� signs a p�.i�'ch�::� ��_;�: R9� ��,�; � f�� �� <br />property will be included in the EDA maf 3.Pt;r�� ��rc��ram. 'I'I,� �si �'�; ��� ��;� .�, �, f,��znent <br />will be contingent on the completion of at� �ri��:� r,����Y��ntal evaluatio� ��;���;s�.i„� no <br />evidence of hazardous waste on the propF r<<v�. ,j. <br />7. Sellers will be asked to provide the �bsti�,�ct oi � 1!;(�3 a�plicable) to the EDA, to <br />facilitate the rendering of a title op����nJ�:; ;+.,i�e cosi c�j'u��d�tiri�:the Abstract or <br />RPA will be the seller's if a sale a<,� _3, ��. ! <br />8. Legal Counsel will be r <br />. contact staff as quickly <br />or title insurance pol't�ti <br />0 <br />If the title opini <br />will continuc � <br />:it � <�ole disc� F,�.x�. <br />10.;. Simti <br />obta: <br />perfc <br />may <br />� > It1011 � <br />a. <br />b. <br />c. <br />to <br />once <br />ble for;;li�vi`i <br />ible v�r��h an <br />�lout�'shortly <br />;t or RPA updated and will <br />of title. A written opinion <br />�icates t��'>�lropert�;.;has marlcetable title, purchase procedures <br />title opinit�� ;cic��� ncit indicate a marketable title, the EDA, at <br />ay �hoc��� ��a t�� `acquire the property. The EDA may <br />��nd evaluate th�ir resolution, including the additional time and <br />���=lcetable title. The EDA may proceed to correct title <br />urcf;i��� Agreement is executed by the seller. <br />��y;luith the title opinion, an environmental Phase I audit may be <br />i�f a�1 ii�dependent environmental engineering firm or other firm <br />,r.tch service. If environmental hazards are found on the site, the EDA <br />not to acquire the property. <br />@SS <br />a purchase price has been deternuned, the seller will be informed of: <br />The purchase price <br />How the purchase price was determined. <br />If negotiations fail, and the offer is not accepted, the EDA will not acquire <br />� <br />