Page:United States Statutes at Large Volume 113 Part 1.djvu/479

 PUBLIC LAW 106-58—SEPT. 29, 1999 113 STAT. 455 with said M Street Northwest for the distance of two hundred and thirty feet six inches and running thence north and parallel with the line of said Twenty-fourth Street Northwest for the distance of two hundred and thirty-one feet ten inches to the line of said M Street Northwest and running thence east with the line of said M Street Northwest to the place of beginning two hundred and thirty feet and six inches together with all the improvements, ways, easements, rights, privileges, and appurtenances to the same belonging or in anywise appertaining. (c) DATE OF CONVEYANCE. — (1) DATE. —The date of the conveyance of the Property shall be no later than 90 days from the date upon which the Administrator receives from Columbia Hospital written notice of its intent to purchase the Property during which time the parties shall execute all necessary purchase and sale documents, and shall pay the initial cash consideration in an amount at minimum equal to the first of 30 equal annual installment payments of the purchase price as contemplated in subsection (d)(2) hereinbelow. (2) DEADLINE FOR CONVEYANCE OF THE PROPERTY. —Written notification and payment of the consideration set forth under subsection (c)(1) from Columbia Hospital shall be ineffective, and all rights granted Columbia Hospital under this section to purchase the Property shall lapse, and become void and of no further force and effect, if that written notification and installment payment are not received by the Administrator before the date which is one (1) year after the date of the enactment of this section. (3) QUITCLAIM DEED.— Any conveyance of the Property to Columbia Hospital under this section shall be by quitclaim deed. (d) CONVEYANCE TERMS.— (1) IN GENERAL.— The conveyance of the Property shall be consistent with the terms and conditions set forth in this section and such other terms and conditions as the Administrator deems to be in the interest of the United States, including but not limited to— (A) credit and payment provisions, including the provision for the prepa3anent of the full purchase price if mutually acceptable to the parties; (B) restrictions on the use of the Property for the purposes set forth in subsection (a); (C) conditions under which the Property or interests therein may be sold, mortgaged, assigned, or otherwise conveyed in order to facilitate financing to fulfill its intended use; and (D) consequences in the event of default by Columbia Hospital for failing to pay all installments payments toward the total purchase price when due, including reversion of the described property to the United States. (2) PAYMENT OF PURCHASE PRICE.— Columbia Hospital shall pay the total purchase price of $14,000,000.00 for the Property. The terms and conditions of the sale shall be as deemed by the Administrator to be in the best interests of the United States. Such terms may include financing the payment of the purchase price in annual installments for a term not to exceed

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