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HomeMy WebLinkAboutResolution #1036RESOLUTION NO. 1036 A RESOLUTION APPROVING AN AGREEMENT PROVIDING FOR THE SALE/PURCHASE OF CITY OWNED REAL PROPERTY LOCATED AT ADDRESS OF 702 SOUTH 5th AVENUE WHEREAS, the Canton City Council has heretofore determined the necessity of selling certain real property iden.tif ied in the attached agreement; and, '' WHEREAS, it is now necessary to enter into a written agreement providing for the City of Canton's sale of such real property. IT IS, ACCORDINGLY, HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF CANTON, Fulton County, Illinois as follows: 1. That the agreement providing for the sale - purchase of City owned real property located at 702 South 5th Avenue, Canton, Illinois, such agreement being attached hereto and identified as Exhibit "A" hereto and herein incorporated by reference, is hereby approved by the Canton City Council. 2. That the Mayor and City Clerk are hereby authorized and directed to execute and deliver duplicate originals of said agreement and to execute and deliver the requisite quit-claim deed and all other papers necessary to conclude said transaction. 3. That this Resolution shall be in full force and effect immediately ~• upon its passage by the City Council of the City of Canton, Fulton County, Illinois and approval by the Mayor thereof. PASSED by the City Council of the City of Canton, Fulton County, Illinois at a regular meeting this 15th day of May , 1984 upon a roll call vote as follows: AYES: Aldermen Horr, May, Carl, Savill, Hammond, Kovachevich. NAYS: None. ABSENT• Aldermen Workman, Sarff. APPROVED: -~ E~!~ 2 ~ ~'~ ~ Donald Edwards, Mayor. ATTEST: ncy W tes, City Clerk. AGREEMENT NO. 437 AN AGREEMENT PROVIDING FOR THE SALE OF CERTAIN CITY OWNED REALTY WHEREAS, the City of Canton, an Illinois municipal corporation, is the owner of certain real property hereinafter more particularily described which such real property has been by said City determined to Iqe no longer necessary, appropriate, required for the use of, profitable to, or for the best interests of the City of Canton; and, desires to WHEREAS, Melodee Mears purchase such real property from the City of Canton. NOW, THEREFORE, IT IS HEREBY AGREED AS HEREINAFTER SET FORTH: 1. SELLER: The Seller of the real property hereinafter described is the City of Canton, an Illinois municipal corporation, having its main office located at 210 E. Chestnut Street, Canton, Illinois 61520, hereinafter referred to as the "City". 2. BUYER: The Buyer of the real property hereinafter described is Melodee Mears whose permanent mailing address is 552 North 1st Avenue, Canton, Illinois hereinafter referred to as the "Buyer". 3. SUBJECT MATTER: The subject matter of this agreement is certain real property located within the corporate limits of the City of Canton, 702 South Fifth Avenue Fulton County, Illinois with common address of Canton, Illinois. Said real property is legally described as follows, to-wit: A part of Lots Numbered 15 and 16 in Fisher's Addition to the City of Canton, bounded and described as follows: Commencing at the Northeast corner of Lot 16 and running thence West 75 feet, thence South 92 and 92 hundredths feet, thence East 75 feet, thence North 92 and 92 hundred- ths feet to the place of beginning, situated in the County of Fulton, State of Illinois. 4. CONSIDERATION: The consideration supporting this agreement is made up of the mutual covenants and agreements herein set forth and _________________ by Buyer to payment of the cash sum of $18 525.00 the City in lawful money. 5. CONVEYANCE: The City shall convey title to said real property to Buyer by a good and sufficient quit-claim deed. 6. TITLE: The City shall show proof of merchantable title in said real property to Buyer by either, in the City's sole discretion, supply- ing Buyer with an updated abstract of title or a commitment to insure title in the amount of the cash sum set forth in paragraph 9, above. In the event an abstract is provided by the City, it shall be updated only once at the City's expense. Proof of merchantable title as afore- said shall be furnished by the City to Buyer within 30 days of the date of this agreement or, for good cause shown, at such other further time as the parties may agree to; any such extension of time shall be accomplished by an instrument in writing. 7, DEFECTS IN TITLE: In the event Buyer makes objectit~n to the status of title and, in the opinion of the City Attorney, such objection setsi forth a bona fide defect causing title to not be merchantable, the City shall, in its sole discretion, cure such defect within 60 days of Buyer's making of such objection or declare this agreement to be null and void provided, however, that the City return to Buyer any earnest money deposit without interest and, still further, providing that Buyer release to the City the original of the abstract of title or commitment to insure title. 8. CLOSING: Closing shall take place within 14 days of the expiration of the time period set forth in paragraph 6, above. Closing shall take place at the City's main office as set forth in paragraph 1, above. 9. TAXES AND UTILITIES: General real estate taxes, utilities and special assessments, if any, shall be prorated between the City and Buyer according to their respective time of possession of the premises. The City shall be responsible for all general real estate taxes, utilities and special assessments, if any, which were levied or placed against said premises in any year preceeding the instant year and which are now legally cognizeable, due and owing. The City may, at its election, allow some or all of its share of such general real estate taxes, utilities and special assessments, if any, as a credit against the cash sum due and owing to the City from the Buyer, all as set forth in paragraph 4, above. If such credit is given by the City to the Buyer, the Buyer hereby covenants and agrees to hold the City whole and harmless on account thereof. 10. ZONING AND USE OF PREMISES: The above described premises is presently zoned B-2 General Commercial under the City of Canton's zoning ordinance(s), as amended: The use of the premises shall be governed by reference to such zoning ordinance(s) as the same presently exists and as such zoning ordinance(s) may be amended. 11. TENANCY/OCCUPANCY/POSSESSION: The City hereby warrants that the subject premises, to the best of its knowledge, is not now subject to a right of any third party tenant or occupant. The City shall give possession-of the above described premises_to Buyer at closing. 12. IMPLIED/EXPRESSED WARRANTIES: Other than as above set forth, this agreement is not subject to any express or implied warranty of any sort. The Buyer hereby warrants that he has had full and ample opportunity to inspect the above described premises; that he is satisfies that his inspection thereof was complete; and, that, other than as herein set forth, no promises, representations or inducements whatsoever have been made to Buyer by the City or by the City's officers, officials, F~nployees or agents. -2- 13. AUTHORITY: This agreement is executed and delivered by the City to the Buyer by authority of the City Council of the City of Canton, Fulton County, Illinois and pursuant to motion/resolution/ ordinance thereof passed at its regular meeting of May 15th , 19 84 14. OTHER TERMS AND CONDITIONS: Sale of parcel shall beyconditioned upon Buyer obtaining bank financing under usual and customary terms and ~. cond'~tions. IN WITNESS WHEREOF the City and the Buyer have set their hands and seals to two originals hereof this day of 19 CITY OF CANTON, an Illinois municipal corporation, >> BY: Its Mayor. ATTEST: City Clerk. (Corporate Seal) Buyer. -3-