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Trustees approve amended offer and contingencies for 8725 North Deerwood Drive sale
Summary
The board approved an amended agreement for sale of 8725 North Deerwood Drive to Donut Monster LLC that keeps the offer amount unchanged but extends the closing to Nov. 7 and adds financing, appraisal and environmental contingencies; staff said the terms are typical and recommended approval.
Staff presented an amended purchase offer from Donut Monster LLC for the property at 8725 North Deerwood Drive, noting that while the offer amount remains the same the buyers requested three substantive changes: a closing-date extension to Nov. 7, an added financing contingency, and appraisal/environmental contingencies. Staff recommended approval, calling the changes common in commercial real-estate transactions.
"They have also added a financing contingency, within the offer at the addendum and, condition, of appraisal and environmental," staff (Nate) said while outlining the amendment; trustees moved to approve the updated offer (mover: Trustee Greaves; second: Trustee Woods) and the motion carried.
