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• CONTRACT FOR THE SALE/PURCHASE OF REAL ESTATE
<br />THIS CONTRACT is made as of the day of 11998,
<br />between TIMOTHY L. PICKLE, III and CAROLAN E. PICKLE, husband and wife,
<br />Grantor, hereinafter referred to as "SELLER;" the CITY OF CHARLOTTESVILLE,
<br />VIRGINIA, a political subdivision of the Commonwealth of Virginia, Grantee, hereinafter
<br />referred to as "PURCHASER," whose address is P.O. Box 911, Charlottesville, Virginia, 22902;
<br />and RAE DEVELOPMENT CORPORATION, Option Holder.
<br />WITNESSETH:
<br />WHEREAS, Seller is the owner of certain real property situated in the City of
<br />Charlottesville, Virginia, designated on City Real Estate Tax Map 28 as Parcel 71 and known as 207
<br />South First Street, containing approximately 5,268 square feet (the "Property"); and Rae
<br />Development Corporation is the Option Holder of said Property;
<br />WHEREAS, with the consent of Rae Development Corporation, Seller has agreed to sell the
<br />Property, to Purchaser and Purchaser has agreed to purchase the Property from Seller for the
<br />purchase price of Three Hundred Twenty Four Thousand Dollars ($324,000.00);
<br />• NOW THEREFORE, in consideration of the premises and the mutual covenants contained
<br />herein, Seller and Purchaser do hereby set forth their agreement as follows:
<br />L AGREEMENT TO SELL/PURCHASE
<br />Seller agrees to sell to Purchaser, and Purchaser agrees to purchase from Seller, the real
<br />property referred to herein as the Property, which is more particularly described as follows, to -wit:
<br />All that certain tract or parcel of land, with the improvements thereon and the
<br />appurtenances thereto belonging, situated in the City of Charlottesville, Virginia,
<br />containing approximately 5,268 square feet of area, and identified on City Real
<br />Estate Tax Map 28 as Parcel 71 (207 South First Street); being the same property in
<br />all respects conveyed to Timothy L. Pickle, III and Carolan E. Pickle, husband and
<br />wife, by deed dated March 26, 1984, of record in the Charlottesville Circuit Court
<br />Clerk's Office in Deed Book 449, page 210;
<br />together with all improvements, easements, and appurtenances thereunto belonging, upon the terms,
<br />conditions, and provisions set forth in this Agreement. By its signature on this contract, Rae
<br />Development Corporation agrees to release all rights and interest to the Property under its Option
<br />with the Seller and agrees to be compensated by Seller for such release.
<br />Prepared by Charlottesville City Attorney's Office
<br />November 3, 1998 Page I of 5
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