Mountain View Elementary School Sample Clauses

Mountain View Elementary School. The parties also acknowledge that as part of the settlement of the MLO dispute, the parties shall execute a contract to buy and sell real estate (the “real estate contract”), under which TCA shall purchase from the district the elementary school now known as Mountain View Elementary School (“MVES”). Under the real estate contract, TCA shall have a 60-day period during which to conduct a due diligence review of MVES. In the event that TCA elects not to purchase MVES as a result of its due diligence review, then sections 7.1.5, 7.1.6 and any enrollment cap provided for in section 5.4, shall become null and void and shall have no force and effect, and the parties’ pre-existing rights as set forth in the contract addendum executed on January 20, 2000 with regard to the MLO dispute shall be restored. Per the promissory note executed on January 20, 2004, TCA shall begin payments (principal and interest) to the School District on September 1, 2009, in equal monthly installments for a period of 123 consecutive months. Exhibit F contains the repayment schedule developed and agreed to in compliance with the January 20, 2004 promissory note. Such note was paid in full in November 2019.
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