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The Township authorizes up to $2,000 for a private appraisal to support valuation discussions, while explicitly clarifying that approval to purchase is not granted. Key proposed terms cover inspection timelines, title insurance and objection/cure procedures, warranties, possession and closing mechanics, cost allocation, property tax responsibility, and non-binding intent pending a future Purchase Agreement.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/approval-letter-of-intent-to-purchase-macomb-street-property-grosse-ile-township/278328/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/approval-letter-of-intent-to-purchase-macomb-street-property-grosse-ile-township/278328.png","ImageObject",442,249,{"name":88,"@type":89},"Clementine","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-31","2026-09-15",true,{"@type":98,"interactionType":99,"userInteractionCount":20},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What does the Township’s approval authorize under this agenda item?","Question",{"text":108,"@type":109},"It authorizes execution of the attached Letter of Intent to Purchase the specified parcel and permits expenditure of up to $2,000 for a private appraisal to determine the property’s value.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"Is this Letter of Intent a binding commitment to complete the purchase?",{"text":113,"@type":109},"No. The Letter of Intent is expressly non-binding and will not become binding until a more detailed Purchase Agreement is negotiated, approved, and signed.",{"name":115,"@type":106,"acceptedAnswer":116},"What are the main proposed conditions before closing?",{"text":117,"@type":109},"The document sets an inspection period (75 days), requires title insurance commitment and an objection/cure process, includes inspection rights (including environmental testing), and specifies closing timing, possession at closing, and allocation of closing/transfer-related costs.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},278328,1790023988,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":20,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":47,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":73},1374391974564,"https://ap-avatar.wpscdn.com/avatar/14000253aa45c000a9e?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779874745381141002","AGENDA ITEM REPORT  \nMeeting Date: May 12, 2025  \nStaff Contact: Derek Thiel, DPS Director  \nDepartment: Administration  \nSubject: Approval-Letter of Intent to Purchase-Macomb Street Property  \nRecommendation(s):  \nThe Grosse Ile Township Board of Trustees approves the execution of the attached Letter of Intent to Purchase Parcel ID Number 73-028-01-0039-000 and furthermore authorizes the expenditure of up to $2,000 to perform a private appraisal to determine the parcel's value.  \nHistory, Purpose & Explanation:  \nFor some time the Township has looked at the referenced parcel for the purposes of installing a playground (to replace the playscape) . The interest in this parcel is it's proximity to Lyons Park. The attached LOI would allow the Township and the owner to convey their intentions to purchase the property. The next step if approved would be to get a private appraisal of the property in order to facilitate discussions regarding a purchase price. This action item does not approve the purchase. Approval to purchase will require future Board action(s) .  \nImplementation Schedule:  \nExecution of the LOI-Immediate / Appraisal to follow.  \nPolicy Implications:  \nN/A  \nAttachments:  \n2025-05-06 LOMO Letter of Intent Final Parcel Map  \n5/7/2025  \nLOMO, LLC  \nAttn: Lori Khaled, Resident Agent  \n21430 East River  \nGrosse Ile, MI 48138  \nRe: Letter of Intent to Purchase Vacant Macomb Street Property  \nDear Ms. Khaled:  \nI am sending this letter (“Letter of Intent”) on behalf of the Township of Grosse Ile (the “Purchaser” or “Township) to communicate in writing the Township’s intent to proceed in working out the details of its purchase of the above referenced vacant property, located on Macomb Street in Grosse Ile. This Letter of Intent sets forth some of the basic terms and conditions of the proposed purchase and allows LOMO, LLC (the “Seller”) an opportunity to sign below to communicate its same intent. The terms set forth in this Letter of Intent will not become binding until amore detailed purchase agreement (the “Purchase Agreement”) is negotiated, approved by the Township’s and Seller’s respective governing bodies, and signed, as contemplated below by the section of this Letter of Intent entitled “Non-Binding.”  \n1.  The “Property”: Vacant Macomb Street, Parcel ID Number 73-028-01- 0039-000  \n2.  Purchase Price: To be determined based on an appraisal to be obtained by Buyer. The Purchase Agreement will be contain the agreed-upon purchase price based on the appraisal.  \n3.  Buyer: Grosse Ile Township, a Michigan general law township.  \n4.  Seller: LOMO, LLC, a Michigan limited liability company.  \n5.  Possession. Possession would be given at Closing (defined below) . Settlement would be made at the Closing, immediately prior to possession.  \n6.  Inspection Period: Seventy-Five (75) days from the date that an agreement is executed by both parties.  \nLOMO, LLC May 7, 2025 Page 2  \n7.  Inspections: The Township shall be entitled to investigate the condition of the property and any other matters pertaining to it. The Township shall also be entitled to conduct any necessary environmental inspections and testing deemed necessary or desirable by the Township.  \n8.  Title: Within ten (10) days of the effective date of the agreement, Seller shall, at Seller's expense, obtain a commitment for an owner's title insurance policy. The Township shall give written notice to Seller of any objections that the Township has to Seller's title. Seller shall have ten (10) days after receipt of any such objection to (a) cure said objection or to covenant to cure said objection at or prior to closing; provided, however, that Seller shall have no obligation to cure any such objection except (i) monetary obligations such as mortgages, liens, created by act or omission of Seller, and (ii) any encumbrance placed upon the property subsequent to the effective date of the Township's title examination created by act or omission of Seller, or (b) notify the To","cbCaigZo68eaYSqH","https://ap.wps.com/l/cbCaigZo68eaYSqH","pdf",7751750,"English","# Agenda Item Report\n## Approval to Execute LOI and Appraisal Authorization\n## Background, Purpose & Next Steps\n## Proposed Letter of Intent Terms\n## Attachments","[{\"question\":\"What does the Township’s approval authorize under this agenda item?\",\"answer\":\"It authorizes execution of the attached Letter of Intent to Purchase the specified parcel and permits expenditure of up to $2,000 for a private appraisal to determine the property’s value.\"},{\"question\":\"Is this Letter of Intent a binding commitment to complete the purchase?\",\"answer\":\"No. The Letter of Intent is expressly non-binding and will not become binding until a more detailed Purchase Agreement is negotiated, approved, and signed.\"},{\"question\":\"What are the main proposed conditions before closing?\",\"answer\":\"The document sets an inspection period (75 days), requires title insurance commitment and an objection/cure process, includes inspection rights (including environmental testing), and specifies closing timing, possession at closing, and allocation of closing/transfer-related costs.\"}]","Approval-Letter of Intent to Purchase - Macomb Street Property - Grosse Ile Township | PDF",1789509072]