Approve the First Amendment to Option Agreement and Agreement of Purchase and Sale between School District No. 4J and Eugene Family YMCA on substantially the following terms, without limitation, (i) the YMCA will have three one-year options to extend the deadline to exercise the op- tion, with the first option period beginning on September 29, 2017 and the second and third option periods being…
| Motion | Moved to approve the First Amendment to Option Agreement and Agreement of Purchase and Sale between School District No. 4J and Eugene Family YMCA on substantially the following terms, without limitation, (i) the YMCA will have three one-year options to extend the deadline to exercise the op- tion, with the first option period beginning on September 29, 2017 and the second and third option periods being contingent on the deposit of $712,500.00 into escrow at the start of each of the second and third option periods and demonstration of material progress in fundraising to the satisfaction of the 4J board; (ii) the YMCA will have no right to ex- tend payment of the $1,350,000 note given at closing; and (iii) 4J will Minutes – 4J Board of Directors September 20, 2017 Page 17 have the right to construct certain portions of the joint access road and add the costs to the purchase price plus interest |
|---|---|
| Moved by | Alicia Hays |
| Seconded by | Judy Newman |
| Yes | Eileen Nittler, Alicia Hays, Anne Marie Levis, Judy Newman, Evangelina Sundgrenz, Mary Walston |
| No | — |
| Absent | Jim Torrey |
| Result | Passed 6–0 Result as stated in the minutes. |
| Agenda item / resolution | — |
| Minutes | Official minutes, page 17 |
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