The council has already been negotiating with the owners about the possible voluntary sale
of the land - which is also the site for a regular outdoor market - a legal requirement before any CPO can be launched.
Fair market value is defined as the fair and reasonable amount which could be attained in the open market at a voluntary sale
"The concept of an implied covenant not to compete makes good sense in the context of a voluntary sale
where the seller typically receives the value of the transferred assets and ought not to be permitted to take that value and then begin undermining it by competing," Hoffman said.
Unable to negotiate a voluntary sale
of the parcel, it resolved to take the land by eminent domain, and filed a petition to condemn the property.
Pinewood Estates Condominium Association, that the provisions in the condominium declaration compel the purchaser at foreclosure or voluntary sale
to pay pre-foreclosure assessments.
The difference between the regular tax assessment and the adjusted tax assessment could be set aside and settled from the estate upon the death of the homeowner or upon a voluntary sale
of the property by the homeowner.
The NBA statement also stated that NBA Commissioner Adam Silver "has consistently said the preferred outcome to the Clippers proceeding would be a voluntary sale
of the team."
On or before 5/14/14, personalized Voluntary Sale
Instruction Forms for participation in the Voluntary Share Sale Facility and Register Removal Request Forms for CDI conversions into underlying Common Stock will be mailed to registered CDI holders as of the Delisting Date.
I found the revelation of a voluntary sale
curious, considering the lengths the company went through to stave off an activist takeover by Jana Partners, namely pulling out of Chicago and offloading its Canadian operations to Sobeys last October.
"We want to work with a willing seller and find the best option" through a voluntary sale
or easement purchase, Bjorklund said.