a Eu ,1 CITY OF ITHACA 108 East: Green. Street Ithaca, New Yeti; .22? earn beater a: DEPARTMENT OF PLANNENG AND ii. VAN CORT, OF PLANNING AND DOUGLAS B. MCIHJNALD, DIRECHMR JUANN CORNISH, OF PLANNING 8; telephone: Planning 8; - 607?274?65-?30 Email; Fax: 601274-6538 a a Community 001377 twt??li iimttiiz iumt? Citywitti?tltt?thif}; EVIX: (at i733? +0338 March 4, 2002 Project Growing Hope, Inc. PO Box 606 Ithaca, NY 14851 Subject: Sale of Carpenter Business Park Dear Project Growing Hope, inc.: I am writing to inform you that the Ithaca Urban Renewal Agency and City of Ithaca completed the sale of Carpenter Business Park to Building Links, Inc. on February 19, 2002. included in the sate is a purchase option of the City? owned parcels leased by Project Growing Hope, Inc. (enclosed). It is my understanding that the purchase option will not affect your current lease of the City-owned property utilized for the Community Gardens, which extends through December 31, 2013, without your consent. During the term of your lease the purchase option may only be exercised with the approval of Project Growing Hope, Inc. Upon expiration of the lease, the option may be exercised if the Common Council decides not to extend or renew the lease with Project Growing Hope, Inc. Please note that property sold to Building Links, inc. included the Carpenter Circle road right?of?way (tncluding road, curbs and sidewalk). However, the City reserved an easement through Carpenter Circle for access to the Community Gardens. If you have any questions about this matter, please contact me at 2746559 or by e?mail at helsb@cityofithaca.orq. Respecttutly, w; NewJ?f?f 1- ?Ls, - use: Nels?BotrZif Director of Community Development, IURA Encl. Purchase option agreement c: P. Dunn, Assistant City Attorney HM. Van Cort, Executive Director, IURA C. Yahn, Building Links, Inc. project ?le chrono dispositionlcarpentenlet project growing hope 3.4.02doc . . $13k ?Ari Equai Opportunity iiu?tpiuycr with ;t tn {at-72am 7 OPTION TO PU HASE REAL PROPERTY This agreement is made and entered into this ?day of February, 2002, by and between theCity of Ithaca, with offices at 108 East Green Street, City of Ithaca, Tompkins County, State of New York, herein called ?Optionor?, and Building Links, Inc, a not-for-profit corporation with principal address at PO. Box 6803, Ithaca, New York, herein called ?Optionee?. In consideration of the sum of One Dollar paid by Optionee to Optionor, the receipt of which is hereby acknowledged, and other good and valuable consideration, Optionor [hereby grants to Optionee, Optionee?s heirs, executors, administrators, successors and assigns, the exclusive right. and option to buy certain property located in the City of Ithaca, County of Tompkins, State of New York, commonly known as the Community Gardens, bounded and deScribed as follows: 1. Description of property. ALL THAT. TRACT OR PARCEL OF LAND situate in the City of Ithaca, County of Tompkins and State of New York, beginning at a point in the northerly line of the premises of the grantor which point is located the following courses and distances from a pin set in the northerly line of the premises of the grantor and the westerly line of Third Street: 34? 17? 32? along the northerly boundary of the lands of the grantor a distance of 217.82 feet to a pin set in the northwesterly corner of the street known as Carpenter Circle; thence 34? 41? 32?; a distance of 55.00 feet to the point or place of beginning. running thence, along a curve to the left an arc distance of 65.82 feet, said course having a radius of 230.00 feet and a chord bearing and distance of south 04? 04? 54? west, a distance of 65.60 feet to a point, running thence 04? 07? 11? a distance of 85.80 feet to a point, A:\CarpenterParkoption to purchase reviseddoc 1 nag. '1 . ?teen ?arr: running thence along a curve to the right an arc distance of 97.88 feet, said course having a radius of 140.00 feet and a chord bearing and distance of south 150 54? 37? west, a distance of 95.90 feet to a point in the northerly boundary of a street commonly known as Carpenter Circle, running thence 35? 56? 24? a distance of 203.20 feet to a point in the northerly boundary of Carpenter Circle, running thence 56? 14? 08? a distance of 113.65 feet; running thence 34 41? 32? a distance of 419.10 feet to the point or place of beginning. . ALSO, ALL THAT TRACT OR PARCEL OF LAND situate in the City of Ithaca, !County of Tompkins and State of New York, beginning at a point in the southerly line of the street commonly known as Carpenter Circle, said point of beginning being located the following five courses and distances from the point of beginning of premises of the grantor being conveyed to Bililding Links, lnc. concurrently with this Option to Purchase: 1. 31? 27? 28? a distance of 100.69 feet to a pin at the easterly line of the premises of the grantor and the westerly line of third Street; . 2. thence 58? 32" 49? a distance of 82.90 along the southerly boundary of a street commonly known as Carpenter Circle;- 3. thence continuing along the southerly boundary of Carpenter Circle running along a curve to-the left an arc distance of 185.81 feet, said course having a radius of 170.00 feet and a chord bearing and distance of south 27? 11? 19? west, a distance of 176.70 feet, 4. continuing thence along the southerly boundary of Carpenter Circle 04? 07? 11? a distance of 50.91 feet to a point located 0.9i feet easterly of a pin found, 5. continuing thence 04? 07? 1 l? a distance of 22.08 feet along the southerly boundary of Carpenter Circle and the boundary of lands reputedly of Hoyt Benjamin to a pin set which is the point of beginning. Thence South 30 degrees 54 minutes 28 seconds East, 264.72 feet to a point located 0.2j feet westerly from a fence post in a chain link fence; to purchase reviseddoc 3?41- . running thence South 33 degrees 47 minutes 32 seconds west, 228.3 feet to a point marked by an iron pin; 1 running thence North 56 degrees ll minutes 5 seconds West, 196.92 feet to a point marked by an iron pin; running thencie North 35 degrees 56 minutes 24 seconds east, 201.0 feet to a point; rumring thence on a curve to the left an arc distance of 139.83 feet, a chord distance of North 15 degrees 54 minutes 37 seconds east, 137.0 feet to a point; running thence North 4 degrees 7 minutes 11 seConds east, 12.81 feet to the point or place of beginning]. The above parcels are shown as Parcels and on a survey map entitled "Survey Map Carpenter Business Park, Third Street and New York State Route 13, City of Ithaca, Tompkins County, New, York,? dated 6/1/2001, amended 9/17/2001 and 2/15/2002, prepared by TC. Miller .C. Engineers and Surveyors, which map is intended to be filed in the Tompkins County Clerk?s Office concurrently herewith. 2. Purchase Price Purchase price is seventy thousand ($70,000) Dollars adjusted on the date of Optionee?s exercise of this option to the "Consumer Price Index for All Urban Consumers for the Northeast Urban Region" as prepared by the US. Bureau of Labor Statistics. A nonrefundable good faith deposit of five thousand ($5,000) Dollars is payable upon exercise of the option and shall be included with Optionee?s written notice of its intent to exercise the Option with the remaining balance payable at closing. 3. Terms 1. Subject to lease. Purchase of the Community Gardens is subject to the lease on the property. A:\CarpenterParkoption to purchase reviseddoc .4. 3? 2.Written Notice. Notice of Optionee? intent to exercise the Option shall be provided to the Optionor in Writing ,by certi?ed mail, return receipt requested, made to the Director of the Ithaca Urban Renewal Agency. Failure to provide such writing within the Option period, even if notice has been provided orally or by some other method, shall be construed as having allowed the option to expire. Written notice of intent to exercise this option shall be deemed Notice of Acceptance of the option. 3. Closing. Closing is to take place no later than twelve (12) months after Optionor has received written notice of intent to exercise the option. 4. Title. Title to the property shall be conveyed by warranty deed free and clear of all encumbrances. Optionor shall provide ten (10) year tax searches, an Abstract of Title and a title search covering at least forty (40) years to time of transfer, showing good and marketable title, free of liens and encumbrances. 5. Duration of option. This option to purchase is for twenty (20) years commencing on the day, month, and year indicated above. Under no circumstances shall this option extend beyond the twenty (20) year period indicated herein. 6. Manner of Exercising. 1 This Option may be exercised at any time within the twenty (20) year period indicated above under the following terms and conditions. During the term of current lease. Optionee may exercise this option during the current lease period by providing written notice to the Optionor, by certi?ed mail, return receipt requested, of its intent to exercise said option along with presentation to Optionor of satisfactory proof from the Board of Project Growing Hope, Inc, or its successor in interest, of the approval by said Board of the conveyance to Optionee. (ii) After the current lease has expired or been terminated. Optionee may exercise this option after the lease with Project Growing Hope, inc, or its successor in interest, has expired or been terminated by A:\CarpenterParkoption to purchase reviseddoc providing notice to Optionor of Optionee?s intent to exercise the option upon expiration of the lease. Such notice shall be provided at least six months prior to exercise of this option but not more than six months prior to the date that the lease with Project Growing Hope, Inc. expires or terminates. Said notification by Optionee shall be in writing, by certi?ed mail return receipt requested, stating that the Optionee elects to exercise its Option unless the Optionor extends its lease with Project Growing Hope, Inc.? The City shall then have six months to sign a lease extension or a new lease with Project Growing Hope, Inc. ?In the event the City chooses to either renew or extend its lease with Project Growing Hope, Inc, then arid in that event, Optionee shall be entitled to exercise its option under the same terms as described in above so long as said option is exercised within the twenty (20) year time period of this agreement. ?In the event the City chooses not to renew orextend'its lease with Project Growing HOpe, Inc, then and in that event, Optionee shall be entitled to exercise its option and proceed to closing. No notice of intent to exercise option. If the City chooses not to renew or extend its lease with Project Growing Hope, Inc. and the Optionee has not provided notice of its intent to exercise its option as described in (ii) above, then Optionee shall have one (I) year from expiration of the lease with Project Growing Hope, Inc. in which to provide Notice to the City of its intent to exercise 1 its option. . I ?If the Optionee provides such Notice, then closing shall take place within twelve (12) months of said Notice. i ?If the Optionee chooses not to exercise its option, then this Option to Purchase shall automatically expire and shall have no further force or effect twelve (12) months after expiration or termination of the lease between the City and Project Growing Hope, Inc. 2. Closing. Once Optionee has provided Notice of intent to exercise the Option, then closing shall take place within twelve (12) months of provision of said Notice of Intent. 3. Time is of the essence in this Option to Purchase. All time limitations as provided above, both for the provision of Notice to exercise the option and for closing, are of the essence. A:\CarpenterParkoption to purchase reviseddoc Failure to perform shall render this Option to Purchase null and void and of no ?trther force and effect. Real Property Taxation. In the event that the property subject to this Option to Purchase or any portion of the property, be determined to be tax exempt, Optionee and Optionec successors and assigns of this Option to Purchase agree to make a payment?inulien?of-taxes to the city of Ithaca equivalent to the taxes which would be paid if the property, or any portion of the property, were fully taxable. The schedule of payment and penalties for late payment for such payrnent?indieu?o? taxes shall be in accordance with the schedule and laws governing real property taxes. 8. Real Estate Brokerage. It is understood and agreed that no real Estate broker or salesperson was, or is, involved With any aspect of this Option to Purchase, including but not limited to, exercise of said option or closing, This contract 'will be binding upon and shall inure to the bene?t of the parties hereto and to their respective heirs, Successors, or assigns. In Witness whereof, the parties have duly executed this agreement on the day and year indicated above. CITY OF ITHACA Dated: February Lg 2002 %4 I Alan J. Cohen, Mayor BUIL .INQIJINKS, INC. Dated: lion, 1 Ma a, Building Links, Inc. K:\Real Estate\Carpenter Park\CarpenterParkoptlon to purchasedoc 6 STATE OF NEW YORK COUNTY OF TOMPKINS On this *1/17 day of February, 2002, before me, the subscriber, personally came Alan J. Cohen, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within and that he resides in the City of Ithaca, Tompkins County, New York, that he is the Mayor of the City of Ithaca, that he has been duly authorized to execute thisinstrument on behalf of the City of Ithaca, that he signed this instrument pursuant to such authorization and is known to me to be the individual described in and who executed the foregoing instrument and duly aclniowledged to me that he executed the same on behalf of the City of Ithaca. . PATRICIA DUNN Notary Public, State of New York No. 4948393 Quali?ed in Tempkins County . Commission Expires March 20, Notary PUth STATE on NEW YORK COUNTY OF TOMPKIN On this day of M, 2002, before me, the subscriber, personally came Yahn, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and that she resides in the City of Ithaca, Tompkins County, New York, that she is the President of Building Links, lnc., that she has been duly authorized by the Board of Building Links, Inc. to execute this instrument on behalf of Building Links, Inc, that she signed this instrument pursuant to such authorization and is known to me to be the individual described in and who executed the foregoing instrument and duly acknowledged to me that she executed the same on behalfwo?f Building Links,lnc. PETER GROSSMAN a Notary Public, State of New York 'f No. OQGR4643226 - Quali?ed in Tompkins County Notary WEE: Commissmn Expires August . at, 30 0 Li K:\Reai Estate\Carpenter to purchasedoc 7