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01/30/97 Thornquist to Gallagher/Proposal to PurchasePROFESSIONAL HANDLING OF YOUR REAL ESTATE NEEDS January 30, 1997 goods and 'Water REALTY BOX 460 - LAKESIDE, MT $9922 (406) 844-3395 FAX (406) 844-2031 Mr. Lawrence Gallagher City of Kalispell Planning, Economic & Community Development Dept. P.O. Box 1997 Kalispell, Montana 59903-1997 Re: Haven Field Kalispell, Montana Dear Mr. Gallagher: Enclosed please find a proposal to purchase Havenfield, consisting of 4.1 acres, by Regency Inns Management, Inc. of Sioux Falls, South Dakota. This offer is presented to the City of Kalispell by Woods and Water Realty, of Lakeside, Montana, as Buyers Agent for Regency Inns Management, Inc. Broker Fees will be paid at the time of closing from the proceeds placed in escrow by the Buyer in the amount of $58,000.00 or 8% of the agreed upon purchase price. Should you or anyone within the City of Kalispell have any questions regarding this proposal, please do not hesitate to call me. Sincerely, David C. Thornquist Broker Associate This proposal is being presented to the City of Kalispell, Montana, to develop Parcel Number 2, an approximate 4.1 acre piece known as Havenfield (a sot1W field), and also for the use of the Lion Park Street, a 22,825 rectangular piece. Regency inns Management and otlw entities would like to make a proposal to the City of Kalispell, Montana,for the development of Parcel Number 2 into a complex of two hotels with approximately 80 units each and a fug- ice restaurant and for the use of Lion Park Street as a parking area . As you Rill see by the enclosed site plan (E A), two hotels fit nicely surrounding the 5,500 square - foot resstaurant. The first of the hotels and the restaurant will be constructed as soon as possible with an early 1998 opening date. The second hotel would be constructed as demand warrants so as to not drastically impede the hotel market. We foresee the exterior to be like the photograph of the Kelly Inn, West Yellowstone, Montana. As you will see in the photo elevations, we have constructed quality products in other Montana towns, i.e., Billings and West Yellowstone, and we foresee the need for a new full -service restaurant in this area of town. We bring to Kalispell proven, successful ideas and a proven track record. lot by the hotels, restaurant and the park. This proposal is assuming that all correct zoning is in place for the above -mentioned development, and also that all services — i.e., water, sewer, electric, phone, etc. — are either on the property or adjoining the property. We at Regency Inns Management believe this proposed development fits nicely with the City of Kalispell and helps dress up the entrance to the city. Further development of this quality will only enhance and beautify the entrance to the city by making this an eye ;appealing presentation to the visitor. We propose to nicely landscape the property we purchase and also landscape around the parking lot of Lion Park Street. To add to the ambience of the area, we propose to donate a minimum of four flower planters to Lion's Park. Two 80-unit hotels and a 5,500 square -foot restaurant along with the values of construction, FF&E packages, personal property, etc. as a total finished project between $6.1 million and $8.5 million, depending on chise quality, cost of construction, etc. <«1 {« & «»« /Q ? Q»»< 9 y§»± £ «+2 « 6 2 \2 » »y§«»<* « /<ry t«*«. 'At. E *:•© .?«:d c4! : «4 c!*®:»®:*«1©a « « t - � » Seven Hundred Thousand Dollars :#a.for Parcel < known =:2z©° (178,596 square : and 4. the use oLion !r. Streetforparking area. We would propose _ «.. Dollar < „+© year lease. Regency agrees to agency representation, .. ,:� p percent z4 broker's� „ �--. (.x. rwill bf; !r� r <tw.l, 4 »°_ » t v v � :-�. z= ®�- x ;�• �>:� #«:- <� ?� t «». «� t:° land.The broker's © x2 besubtracted from total price offeredforPa.»° 9««:9«wmw«1T»w«2 Evh 6k A NfthdseAgreentent s THIS PURCHASE AGREEMENT, herem is made and entered into effective the 28th day of January, 1997, by and between REGENCY MS MANAGEMENT,, INC, a South Dakota Corporation, with its principal offices located at 2E00 North Louise Avenue, Sioux Falls, South Dakota 57107, herein "BUYER", and THE CITY OF KALISPEL4 with its principal business offices located at Kalispell, Montana, herein "SELLER". ITNSET : WHEREAS, SELLER is the owner of the Havenfield Softball Field parcel (comprising approximately 4.1 acres) and Lion Park Street (comprising approximately .524 acres) adjacent thereto, all in the City of Kalispell, Flathead County, Montana, and WHEREAS, BUYER desires to purchase the Havenfield Softball Field and long-term lease Lion Park Street and SELLER is agreeable thereto, NOW, THEREFORE, in consideration of the mutual promises and conditions hereinafter set forth, BUYER and SELLER hereby agree as follows: SECTION 1.1- PURCHASE AND SALE: Subject to the terms and conditions of THIS AGREEMENT, BUYER hereby agrees to purchase and SELLER hereby agrees to sell and grant, by Warranty Deed, the aforedescribed Havenfield Softball Field real property owned by SELLER and identified on Exhibit "A", attached hereto and incorporated herein by reference and all improvements thereon and all rights, privileges, assets, titles, and interests of SELLER related thereto, herein collectively "THE PROPERTY". SECTION 1.2 - PLANS, STUDIES, AND REPORTS: SELLER will provide BUYER with copies of any and all site plans, survey, soil and substrata studies, engineering plans and studies, environmental impact studies, marketing studies, landscape plans, and other plans or studies of any kind that are in the possession of SELLER and relate to THE PROPERTY. SELLER makes no representation as to the accuracy or validity of any of these studies and/or reports. -1- .Will 1� ,waiffl 14 SECTION 2.1 - EARNEST MONEY: Immediately upon execution of THIS AGREEMENT, BUYER shall deposit into escrow Thirty -Seven Thousand Dollars ($37,000.00), herein "THE EARNEST MONEY",with a qualified title•rlrsr mutually determined by BUYER 1r SELLER, doing business r the State of •r ;rc herein sometimes "THE TITLE COMPANY" or "ESCROW AGENT", as Escrow Agent. THE EARNEST MONEY shall be applied to the purchase price at closing. BUYER and SELLER hereby acknowledge that as of the date of THIS AGREEMENT, damages in the event of breach by BUYER are incapable of accurate estimation and that THE EARNEST MONEY represents a reasonable endeavor by BUYER and SELLER to fix a fair compensation and is not disproportionate to any damages reasonably to be anticipated. Consequently, if (1) BUYER does not terminate THIS AGREEMENT during or on the last day of the inspection period, (fi) BUYER does not terminate TIES AGREEMENT for any other reason for • 1.. a BUYER hasthe "right#terminate,andcontingencies,ll representations, and warranties set forth in THIS AGREEMENT have been met with by SELLER, but BUYER nevertheless fads to close the transaction contemplated by THIS AGREEMENT, --SELLER shall retain THE EARNEST MONEY as LIQUIDATED DAMAGES, as its SOLE REMEDY, in full satisfaction and liquidation of all damages sustained and SELLER shall be deemed • and does hereby waive any rI all other claim againstthe same being deemed compromised, settled, and released in consideration of THE EARNEST MONEY. SECTION 2.2 - PURCHASE PRICE: The purchase price for THE PROPERTY will be Seven Hundred Twenty -Five Thousand Dollars ($725,000.00). SECTION 2.3 - METHOD OF PAYMENT: The purchase price shall be as follows: A- The EARNEST MONEY and the credits described in ARTICLE SIX shall be applied to the purchase price; and B. The remaining balance shall be paid in cash at closing. 010INVU111 1 SECTION 3.1- SURVEY AND TITLE INSURANCE: Within thirty (30) days from the date of THIS AGREEMENT, SELLER shall deliver to BUYER a Survey of THE PROPERTY and a related Surveyor's Certification (meeting the requirements of the Survey Instructions on Exhibit "B" attached hereto and incorporated by reference). The cost of Survey and any replatting necessary for conveyance shall be split between SELLER and BUYER at and if there is closing. SELLER shall complete any necessary replatting process within sixty (60) days of the date of THIS AGREEMENT. Within thirty (30) days ofthe date of THIS AGREEMENT, SELLER shall deliver to BUYER (I) evidence of title in the form of a current commitment for an Owner's Policy of Title Insurance sm a ` 4# •� r #'a 's ) UNDERLYING 1• The s of THEPOLICY and THE UNDERLYING DOCUMENTS shall be split between SELLER and BUYER at and if there is closing. BUYER shall have a period of thirty (30) days the date of receipt of the last to be received of the Survey, the Surveyor's Certificate, THE TITLE COMMITMENT, and THE UNDERLYING DOCUMENTS within which to review and give SELLER written notice of any objection or other matter related to THE PROPERTY as reflected by the Survey, the Surveyor's Certificate, THE TITLE CONMTMENT, and THE UNDERLYING DOCUMENTS. If BUYER gives written notice of its objections within the thirty -day (30-day) period, SELLER shall deliver to BUYER written notice that either (I) THE SELLER will, at its sole cost and expense, attempt to remove the exceptions to which BUYER has objected on or before the closing date or (ii) SELLER is unwilling or unable to remove any such exception to title or correct other matter (provided, however, that SELLER shall not have any election rights with respect to any lien or judgment securing an indebtedness of an ascertainable amount, and S .ER, in such event shall cause any such lien or judgment to be released at ,or prior to the closing date) and THE EARNEST MONEY shall be immediately returned to BUYER SE ON 3.2 - ENVIRONMENTAL REPOR : SELI FR will deliver to BUYER within thirty (30) days from the date of THIS AGREEMENT, a Phase I Environmental Audit of THE PROPERTY prepared by a qualified environmental consulating firm approved by BUYER If the Environmental Audit indicates the possible presence of any "Hazardous Substances", as that term is defined in ARTICLE FIVE of THIS AGREEMENT, or is otherwise unsatisfactory to BUYER, as determined in BUYER'S sole discretion, BUYER may terminate THIS AGREEMENT on or at any time prior to the closing date and TBE EARNEST MONEY shall be immediately returned to BUYER - SECTION 3.3 - ZONING CERTMCATION AND 114PROVEMENTS AGREEMENT: Within thirty (30) days from the date of THIS AGREE, SELLER., at its sole cost and expense, shall deliver to BUYER, at its sole cost and expense, any existing Improvements Agreement(s) with and the Certificate of the City of Kalispell Planning and Zoning Offices and, if applicable, the County of Flathead Planning and Zoning Offices, that (I) BUYER'S contemplated use of THE PROPERTY as sites for motel and/or restaurant/lounge businesses are permissible uses under the existing applicable zoning ordinance and/or regulations and (ii) mining or any other excavations of minerals, including but not limited to, oil, gas, coal, and other hydrocarbons, is prohibited under the existing applicable zoning ordinances and/or regulations. If such government offices indicate that BUYERS contemplated uses are not permissible uses or that mining and/or other mineral excavation are permissible uses, BUYER may terminate THIS AGREEMENT on or at any time prior to the closing date, as defined in ARTICLE FOUR of THIS AGREEMENT, and THE EARNEST MONEY shall be immediately returned to BUYER. -3- cost and expense, a Certificate of taxes due covering THE PROPERTY prepared by the treasurw or other appropriate court official. SECTION 3.5 - INSPECTION: BUYER shall have a period, beginniAg on the date THIS AGREEMENT and continuing for a period of dirty (30) days.from the date of receipt of last to be received of the Survey, the Surveyoes Certificate, THE TITLE CONMTMENT, UNDERLYING DOCUMENTS, the Phase I Environmental Audit, any Improveinenu A-2reement(s and the Zoning Certificate to inspect THE PROPERTY, herein "THE INSPECMON PERIOD BUYER shall be afforded complete access to THE PROPERTY to conduct its inspection and to make such mqumes, tests, studies, surveys, exammations, appraisals, and due diligence i�nvestfiigati as deemed necessary or desirable by BUYER, in BUYERS sole discretion. SELLER shall furni to BUYER or its authorized representative such additional information, documents, survey, and/ studies in SELLER'S possession or otherwise reasonably available to SELLER concerning PROPERTY as necessary to enable BUYER to verify that the representations and warranties SELLER as set forth in ARTICLE FIVE of TFUS AGREEMENT are correct and to deterrmine advisability of proceeding with the proposed purchase. If, as a result of BUYER!S inspection or any other reason, BUYER terminates TFUS AGREEMENT on or at any time prior to the last of THE INSPECTION PERIOD, THE EARNEST MONEY shall be immediately retummed BUYER - SECTION 3.6 - RESTAURANTALOUNGE AND LION PARK STREET CONTINGENCIES: In addition to and without limiting matters addressed in this ARTICLE THREE and specifically without limiting the generality of SECTION 3.5, BUYER shall have a period, beginning on the date of THIS AGREEMENT and continuing for a period of forty-five (45) days from the date of receipt of the last to be received of THE SURVEY, THE SURVEYOR'S CERTIFICATE, THE TITLE COMMITMENT, THE UNDERLYING DOCUMENTS, the Phase I Environmental Audit, any Improvements Agreement(s), and the Zoning Certificate, herein "THE NEGOTIATING PERIOD" to: (1) negotiate with third parties as to the resale of a portion of THE PROPERTY and/or the location of a restaurant/lounge thereon and (ii) negotiate with SELLER for the lease of Lion Park Street for a term of ninety-nine (99) years for an annual rental not to exceed One Dollar ($ 1. 00) for the purpose of constructing a parking lot thereon to be utilized jointly by SELLER and BUYER and with lease terms relating to the specifications, maintenance, and other issues regarding said parking lot satisfactory to BUYER- In connection with the lease of Lion Park Street, BUYER shall be afforded complete access to Lion Park Street to conduct inspection and to make such inquiries, tests, studies, surveys, examinations, appraisals, and due diligence investigations as deemed necessary or desirable by BUYER, in BUYER'S sole discretion. SELLER shall furnish to BUYER or its authorized representative such additional information, documents, survey, and/or studies in SELLERS possession or otherwise reasonably available to SELLER concerning Lion Park Street. K as the result of the negotiations aforereferenced with respect to location of a restaurant/lounge, or the lease of Lion Park Street or for any other reason, BUYER terminates THIS AGREEMENT on or at any time prior to the last day of THE NEGOTIATING PERIOD, THE EARNEST MONEY shall be immediately returned to BUYER - ME 0� I 2111u, W*7511i: I �112 V41 U-16�111 SECTION 4.2 - EVENTS OF CLOSING: At closing, SELLER shall deliver, or cause to be delivered, to BUYER the following: A- Properly executed Warranty Deed sufficient to grant and convey to BUYER fee simple title to TBE PROPERTY, free and clear of all liens, easements, reservations, and/or encumbrances except for items approved, assumed, or otherwise waived by BUYER and except for covenants, conditions, and restrictions of record; B - An Owners Policy of Title Insurance in an amount not less than the total purchase --price of THE PROPERTY insuring fee simple and indefeasible title to THE PROPERTY wbject to no exceptions other than items disclosed in TBE TITLE COMMITMENT, if approved, or otherwise waived by BUYER or provided for herein; C. Any other documents reasonably requested by BUYER, counsel for BUYER, or THE TITLE COMPANY, including without limitation a written and recordable lease of Lion Park Street as is referenced in ARTICLE THREE; At closing, BUYER shall deliver, or cause to be delivered, to SELLER the following: D. The remaining balance of the purchase price; and E. Any documents reasonably requested by SELLER, counsel for SELLER, or THE TITLE COMPANY. ARTICLE FIVE VEVaESE SECTION 5.1 - REPRESENTATIONS AND WARRANTIES: As a further inducement to BUYER TO enter into THIS AGREEMENT and to consummate the transaction contemplated by THIS AGREEMENT, SELLER does hereby represent and wan -ant to BUYER and agrees as follows: A- SELLER has good and insurable title to TFE PROPERTY and Lion Park Street; B. SELLER has full right power, and authority and has taken all requisite action to enter into THIS AGREEMENT and to grant, sell, and convey THE PROPERTY to BUYER as -5- • •l I I a MCI I I #.*1061411 •a . r: 11, VA: 3,M61 d 4 • '; r_r M 6 LLs ME • " s • y_ •s • Not M D. There are no pending improvements, li or special assessments to be made against THE PROPERTY or Lion Park Street by any govermnental authority, except as disclosed in writing to BUYER prior to the execution of THIS AGE T- E. No work has been performed or is in progress by SELLER or at the direction of SELLER, and no materials have been fin-nished to TBE PROPERTY or Lion Park Street or any portion thereof,• might • mechanic's,st. ` et.r construction, or other hens against TBEPROPERTY or •y Park Street; - - -1 a M - -$its - I A a �• • s • • s •• ,rr r • I ( • .s• 111 , 0 R •• st• •r • • t s.r•a ...sr••t t• • is ..4 • s • • u.s y of its obligations hereunder; G. SELLER is not and has never been a "foreign person", as that term is used in Section 1445 of the internal Revenue Code of 1954, as amended, H. SELLER shall not grant, sell, convey, or encumber THE PROPERTY or Lion Park Street prior to the Closing Date; I. THE PROPERTY and Lion Park Street are not subject to any leasehold interest and SELLER further agrees that SELLER will not enter into any lease of THE PROPERTY or Lion Park Street or any part thereof, J. There are no disputes concerning the lines and comers of THE PROPERTY or Lion Park Street, which lines and comers are clearly marked, and there are no encroachments upon THE PROPERTY or Lion Park Street-, K. There is no indebtedness outstanding and no outstanding or unpaid bills incurred for labor and material in connection with THE PROPERTY or Lion Park Street or for the service of architects, surveyors, or engineers in connection with THE PROPERTY or Lion Park Street; L. THE PROPERTY is presently or within sixty (60) days will be served by electricity, gas, sewer, water, telephone, and other utilities required for the use of THE PROPERTY and as of the Closing Date there will be no outstanding past -due bills or assessments for any such utility services; A AD streets necessary to serve THE PROPERTY and Wit curbs and gutters ha .; alter such service to THE! PROPERTY; N. There are no taxes, assessments, or liens against THE PROPERTY or Lion Park Street for any present or past -due taxes or for paving, sidewalk, curbing, sewer, or any other shvet or other improvements of any lam, with the exception of real estate taxes which are not yet due and payable; 0. As ofthe Closing Date, there will be no outstanding, pending, or threatened suits, judgments, executions, bankruptcies, condemnation proceedings, zoning ebanges, or any oth.—c proceedings pending or on record in any courtof any nature or before or by ty governmental or administrative weangy which could any manner now affect BUYERS title to, possession of, or or • Park Street; P. SELLER is not surety on any bond or indebtedness wherein through the default thereof; alien against TEE PROPERTY or Lion Park Street would be created without further legal action; Q. As of the Closing Date, there will be no recorded or unrecorded liens, security interests, security agreements, or UCC financing statements, against THE PROPERTY or Lion Park Street or any part thereof, and R- Neither THE PROPERTY nor Lion Park Street are subject to any federal, state, or local "Superfund" lien proceedings, claim, liability, or action, or the threat or likelihood thereof for the cleanup, removal, or remediation of any "hazardous substance" from THE PROPERTY or Lion Park Street and SELLER has not caused and will not cause, and to the best of SELLER'S knowledge, there never has occurred the release, leak, discharge, spill, disposal, or emission of any "hazardous substance" as of the date hereof. As used in THIS AGREEMENT, "hazardous substance" means any substance that is toxic, ignitable, reactive, or coercive, and that is regulated by any local government, the State of Montana, or the United States of America. "Hazardous substance" includes any and all materials or substances that are defined as "hazardous waste", "extremely hazardous waste", or a "Hazardous Substance" pursuant to state, federal or local governmental law including without limitation, CERLA, SARA, RCRA, the Clean water Act, The OSHA Act, or the Toxic Substances Control Act. "Hazardous Substance" includes, but is not restricted to asbestos, petroleum products, nuclear fuel, or materials, known carcinogens, urea formaldehyde, foamed -in -place insulation, and polychlorinated biphenyl (PCBs); SECTION 5.2 - REFUND OF THE EARNESTMONEY: In the event that any of the representations and warranties set forth in this ARTICLE FIVE is not true in any material respect as of the Closing Date or if SELLER otherwise defaults hereunder, BUYER may terminate THIS AGREEMENT on or prior to the ClosingDate and THE EARNEST MONEYi.' • immediately• to'. • aa;.�t - a' • • f • i • i ' �� : t • ra • •� • . i • . � • _ .. iii� • : �.a • 7 FOR M ir• i i ' • : • f i.. • i S : • •:.- ) i ' •. • li • '.: i • • • 7 It ; :.i: ;:.. �naccuracy in any representation or warranty setfor i.thisARTICLE ARTICLE X r SECTION 6.1 - 1996 TAXES: Any 1996 real estate taxes upon THE PROPERTY due and payable in 1997 shall7' paid in fiffl by SE 6.2 -1997 TAXES: Any 1997 real estate taxes upon THE PROPERTY due and payable in 1998 shall be paid by BUYER, but BUYER shall have a credit therefor at closing in the actual amount thereof if known at closing, or, if the actual amount thereof is unknown at closing, the credit shall be based upon the 1996 real estate taxes due in 1997. In the event that any eminent domain or condemnation proceedings affecting THE PROPERTY, or any part thereof, shall be commenced or threatened prior to the Closing Date, BUYER may, at its option, and in its sole and absolute discretion, (I) terminate THIS AGREEMENT by notice in writing to SELLER or (ii) elect to carry out THIS AGREEMENT despite such proceedings. If BUYER terminates THIS AGREEMENT, THE EARNEST MONEY shall immediately be refunded to BUYER If BUYER elects to carry out THIS AGREEMENT, SELLER shall promptly assign and pay over to BUYER all of SELLER'S right, title, and interest in and to any compensation, damages, or sales proceeds payable as a result of such condemnation or eminent domain proceedings. SELLER agrees to pay all brokerage fees, finder's fees, and/or commissions, including those of Dave Thomquist of Woods & Water Realty, with respect to the transaction contemplated by THIS AGREEMENT and SELLER hereby indemnifies and agrees to hold BUYER harmless from any claims resulting from a breach of this paragraph by SELLER_ sm # 1 1 THIS AGREEMENT shall bind and inure to the benefit of the successors and assigns of the respective parties. BUYER shall have the unrestricted right to assign THIS AGREEMENT. Any notice hereunder shall be given in writing to BUYER in person to the president or Registered Agent thereof in South Dakota, its State of Incorporation, or to the president thereof by certified mail at the address set forth in the first paragraph of TIIIS AGREEMENT, or such future address as may be designated in writing pursuant to this ARTICLE TEN, and to any successor or assignee at the address stated in any notice of succession or assignment given pursuant to this ARTICLE TEN. Any notice hereunder to SELLER shall be given in writing in person to or at the address set forth in the first paragraph of THIS AGREEMENT, or at such future address as may be designated in writing pursuant to this ARTICLE TEN and to any successor or assignee at the address stated in any notice of succession or assignment given pursuant to this ARTICLE TEN. Notice shall be deemed effective upon personal delivery or upon deposit into the U.S. Mails. SECTION 11.1 - ENTIRE AGREEMENT: THIS AGREEMENT and the Exhibits "A" and "B" attached hereto comprise the entire agreement between BUYER and SELLER and any amendment to THIS AGREEMENT or to the Exhibits "A" and/or 'B" to THIS AGREEMENT shall be in writing only, signed by BUYER and SELLER. SECTION 11.2 - SEVE ILTTY: In the event that any term, condition, or provision of THIS AGREEMENT or any portion of a term, condition, or provision is held to be invalid by any Court of competent jurisdiction, such holding or holdings shall not, at the option of BUYER, invalidate or make unenforceable, any other term, condition, or provision of THIS AGREEMENT. The remaining terms, conditions, and provisions shall, at the option of BUYER, be fuliy severable, and the remaining terms, conditions, and provisions shall be construed and enforced as if such term, condition, or provision held invalid had never been inserted in THIS AGREEMENT initially. SECTION 11.3 - TEXT TO CONTROL: The headings of Articles and Sections are included solely for convenience. If a conflict exists between any heading and the text of THIS AGREEMENT, the text shall control. am 111111111111! iiiiiijillill�ilillillillill I 1WRTFIX611 -= IZ- NIT Date: AgR --e-77 CITY OF ISPELL, Kalispell, Montana By Its FAVIII-II&JOW EXHIJ f t l Be1. "e of its delivery to BUYER, and manually sign the Survey, 3. Include on the Survey a full legal description and street adk*ess of the parcel or, if not possibk, on I separate sheet sVkd to the Survey. The sheet should be sealed, signed, and dated as of the date of the Survey and should bear a certification that the legal description is / ftue, correct, and completedescnption of the parcel and all rights appurtenant /f ` ' r 4. Identify all perimeter property lines. Where applicable, curves should be described, S. Identify the number of square feet and acres contained in the parcel; 6. Identify all public streets adjacent to the Property and further identify any right-of-way lines, including their distance from the nearest intersecting public streets; 7. Shaw all curb cuts, d7vewaysfences, and access routes from the Property to public streets; 8. Show all easements affecting the Property which either benefit or burden it and identify each by Book and Page or document number of instrument creating the easement. Indicate, if possible, the dimensions of each easement; 9. Show building foundations and all structures or improvements on the Property, including sidewalks, stoops, fences, parking areas, walls, and street lighting. Identify the square footage and the number of stories of all structures. Specify whether such improvements are under construction arid, if so, which ones; 10. Identify all utility lines for sewer, water, gas, electric, and telephone, light poles and cable television as they service the Property and improvements, IL Show all building set back and yard lines, 12. Show any encroachments or make a positive statement that there are no encroachments; 13. Identify all parking and paved areas. Parking areas should include the number and type, e.g. standard or compact, of vehicles that may be parked under applicable zoning, 14. Show all water courses and wetlands; Exhibit "B". Page 1 16. Show point of beginning of the Property description and relations thereof to the monument ,from which it isfixed, and 17. Conform to such additional requirement as BUYER may impose. Exhibit "B", Page 2 N I MIT m, 00 3 tv 0 . roR—R,41"AloTA Cory,f►,oNWAr* , .S-fOWe,rAtts, 9:V BG,E. 5GN.E,{>ANGBEk'co .Q 2C'N/TECTS .T�it4ra /rlau. //- P-76 - _,.are.:�• Avo&R Ate - --- - ' rr' T•T. 2AAL V f. • N 'V L . �0 1 • • :r.' W u . a r 3 � 1 A"s M. Z3 11 ;��tupasi"a:=�E..irE OPM Eif/ . ��___.-._ t'a,R.;=��e.Ir.d(orw-f�►ar.,r.+�v.r�r . - .Aovr/�icv; sto. Bright, modern guest rooms greet Fairfield Inn guests. Thoughtful amenities such as a well -lit work desk, free cable TV, and an indoor swimming pool provide options for work and relaxation. Fax service and free local calls cater to the needs of business travelers. Smoke detectors, reliable sprinkler systems and card -key entries provide peace of mind. Complimentary continental breakfast is featured daily. 105-ROOM, 3-STORY, INTERIOR POOL I`�I LLJ��IIIIII�IIuIIiIl)IIIIIIILJ Total Developed Site 2.0 AC 87,153 SF Total Guest Rooms 105 33,937 SF Total Gross Building Area 46,548 SF Per Room Area (105 Rooms) 443 SF Parking Spaces 105 cars 42,815 SF Additional information available upon request. 109-ROOM, 3-STORY, EXTERIOR POOL LLIL TLTffI -- A. Total Developed Site 2.1 AC 93,091 SF Total Guest Rooms 109 35,479 SF Total Gross Building Area 46,488 SF Per Room Area (109 Rooms) 427 SF Parking Spaces 109 cars 43,439 SF Additional information available upon request. FOR MORE INFORMATION ON DEVELOPMENT OPPORTUNITIES, CALL (301) 380-5237. RWRFIELO INN 60 Aarnott. Complimentary wntinental Meaktast fs a —e — guest convenience. M outdoor pool He,, Fairfield Inn guests a relaxing option. SITE PLAN FIRST FLOOR PLAN -' 83 GUEST ROOM PLANS Typical Kiy rypiol i-blo-0eeen Eq•Med Dou6lepuren 63-ROOM, 3-STORY, INTERIOR POOL Total Developed Site 1,48 AC Total Guest Rooms 63 Total Gross Building Area Per Room Area (63 Rooms) Parking Spaces 72 can SUMMARY Overall Building Length Overall Building Width Overall Building Height Building Area (Gross) Fiat Floor Second Floor Third Floor Total Area DEVELOPMENT ADVANTAGES • Expandability, in room count • Flexibility of plans and elevations to meet site and market needs • Indoorioutdoor pool option for regional adaptation • Meets current building and handicapped accessibility codes 64,661 SF 20,257 SF 31,305 SF 497 SF 28,080 SF 65' 42'-0" 10,505 SF 10,400 SF 10,400 SF 31,305 SF rent in(�(