of all parties. The petition will be granted.
And now, this 9th day of January, 1973, upon consideration of the "Petition of the Trustees for Authority to Grant an Option to Purchase Real Estate in Columbus, Ohio," and upon hearing duly noticed, it is ordered:
1. The Trustees or their duly authorized designees are hereby authorized to grant an option on the property referred to for the consideration and on the terms set forth in the Petition, and if the option is exercised, the Trustees are authorized to convey to Austin E. Knowlton Company, or its nominee, at private sale and free and clear from all liens, the property referred to for the consideration and on the terms set forth in the Petition.
2. The Trustees or their duly authorized designees are authorized to execute and deliver any documents necessary to effectuate such transaction.
3. If the option is exercised, the net proceeds of such sale, after deduction of expenses of sale, shall be divided as follows:
A. Upon approval of the necessary officers of the County of Franklin, State of Ohio, a sum equal to sixty percent (60%) of the principal amount of taxes that are unpaid and a lien on the property shall be paid to Franklin County, Ohio in complete discharge of all tax claims or tax liens against the property, including any claim for interest and penalty; but if the approval of the necessary officers of the County of Franklin is not obtained, then an amount equal to the tax liens on the property shall be placed in escrow and all liens on the property conveyed pursuant to this Order shall attach to said funds, and any interest or income earned thereon, in the respective order of priorities thereof.
B. The balance of the net proceeds of such sale shall be kept in a special account and used by the Trustees to reimburse their general funds for additions and betterments previously or hereafter made on unmortgaged property owned by the Trustees.
C. The Trustees are directed (1) to keep separate records showing the amount in the fund, if any, the amount expended for additions and betterments on unmortgaged property, and the amount the Trustees have been reimbursed for expenditures or additions and betterments on unmortgaged property; and (2) to make such records available for inspection to parties in these proceedings upon such parties' request.
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