13-2538 Non Binding Letter of Intent RE Possible Purchase of Golf Course

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City of asselben y City Commission 95 Triplet Lake Drive, Casselberry, Florida 32707 ■ Telephone (407) 262 -770o, Ext. 1133 Fax (407) 262 -7745 ■ Email commission@casselberry.org casselberry.org NON - BINDING LETTER OF INTENT October 14, 2013 Mr. Chad Barton, Director Casselberry Golf Company 4100 Wekiva Club Court Longwood, FL 32779 Re: Casselberry Golf Course Dear Mr. Barton: The purpose of this non - binding letter of intent ( "Letter ") is to establish and evidence that the City of Casselberry ( "City") in interested in purchasing the golf course property located at 300 S. Triplet Lake Drive, Casselberry, Florida, owned by Casselberry Golf Company ( "Seller "). It is expressly understood and agreed that no portion of this Letter is to be considered legally binding on either party in any manner whatsoever, nor does this Letter constitute any form of representation or warranty from one party to the other. This Letter is not assignable by either party. City proposes to negotiate a formal contract for purchase and sale with Seller (the "Contract "), and to reduce to writing the terms of the Contract. As indicated above, this Letter is not intended to be legally binding upon any party. This Letter constitutes a non - contractual and non - legally binding Letter entered into solely for the purpose of reflecting the intentions of City and Seller to attempt to negotiate with one another and to secure an initial Contract concerning the purchase and sale of the Property. It is further agreed and understood that either party may terminate negotiations with respect to the proposed Contract at any time, without thereafter incurring further obligations to the other party, aside from returning to such other party all materials furnished by the other party during the term of this Letter. The execution of the Contract is a condition precedent to any legal obligation being imposed on the