HomeMy WebLinkAbout5205 Exhibit 03 Offer to Purchase 08.27.25EXHIBIT 3
OFFER TO PURCHASE REAL ESTATE
Parties: Kings Way Trust ("Seller")
Town of Yarmouth (`Buyer")
Premises: The "Premises" constitutes a portion of Lot 55 on Land Court Plan 34279-H
(said portion formerly being known as Lot 40), containing 3.14 acres, more or
less, which is shown on a plan entitled, "Boundary Plan, Off Nottingham
Drive," dated December 30, 2024, prepared by Merrill Engineers and Land
Surveyors, which plan is attached hereto.
The Buyer hereby offers to buy the Premises from the Seller, subject to the following terms
and conditions:
1. Subject to the provisions hereof, the Buyer will pay Six Hundred Thousand and 00/100
Dollars ($600,000.00) for the Premises
(a) $600,000.00 shall be paid at the time of the delivery of the Deed... Q4%
2. Ppmtkn of Offer. This Offer is valid until 5:00 PM on August , 2025 at or
before which time a copy of this Offer must be signed by Seller, accepting this Offer and
returned to the Buyer, otherwise this Offer shall be deemed rejected, this Offer shall be void
and of no force or effect. Upon written notice to the Buyer or Buyer's representative of
the Seller's acceptance, the accepted Offer shall form a binding agreement.
3. if this Offer is accepted by the Seller, then the Buyer's obligation to perform is
subject to and contingent upon each of the following:
(a) The Seller delivering good and clear record and marketable title, free from liens
and encumbrances, without exceptions and without rights of any party for access
across the subject Premises, except as set forth in Condition 3(f) below;
(b) The Seller shall obtain approval of the subdivision and/or approval not required
plan from the Yarmouth Planning Board;
(c) The Seller shall provide and obtain approval of the subdivision and/or approval
not required plan from the Land Court;
(d) The Seller shall obtain Land Court approval removing the subject property from
M.G.L. c. 183A;
(e) Seller shall obtain relief from the Yarmouth Zoning Board from the original open
space requirement;
(0 Seller shall resolve the current encroachment shown on the plan by the owners
of 357 Hockanom Drive, by *idw 9swing Ow-ravide
extinguishing the resident's use/access across the Premises; Resolution shall
occur prior to the Land Court's approval of the plan so that no unlawful
encroachment is shown on the plan;
(g) The Buyer receiving Town Meeting approval for the purchase, appropriation,
and authority to grant a Conservation Restriction;
(h) The Buyer and Seller enter into a mutually acceptable Purchase and Sale
Agreement, and
(i) The Premises must appraise at or above the purchase price, per M.G.L. c. 44B.
4. Closing. The Seller agrees to deliver a good and sufficient deed conveying good
and clear, record and marketable title at 10:00 AM, ninety (90) days after receiving all
approvals from the Land Court and Seller completing all obligations, at the office of
Buyer's counsel, Mead, Talerman & Costa, LLC, 30 Green Street, Newburyport, MA
01950, unless otherwise agreed upon in writing.
End of Text
Signature Page Follows
BUYER: Town of Yarmouth
Date
The Seller:
[ ] Seller ACCEPTS the Offer as set forth above at 9 :00 a.m.r&n this ZQ
day of AU �r .2025.
[ ] Seller REJEC the Offer.
[ ] Seller Rejects the offer and MAK.E(S) A COUNTEROFFER on the following terms:
SELLER: Kings Way Trust
tit
Name:
Title: 4CN
The Buyer:
[ ] Buyer ACCEPTS the Counteroffer as set forth above at a.m./p.m. on this
day of , 2025.
[ ] Buyer REJECTS the Counteroffer.
B YER:
Af
Date