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HomeMy WebLinkAboutResolution #0964RESOLUTION N0. 964 A RESOLUTION APPROVING AN "OFFER TO PURCHASE REAL PROPERTY" AND DIRECTING THE MAYOR TO EXECUTE THE SAME ON BEHALF OF THE CITY WHEREAS, the Community and Industrial Development Committee has determined that it is in the best interest of the City of Canton to purchase certain real property more particularily described in Exhibit "A" hereto attached; and, WHEREAS, the City Council of the City of Canton, Fulton County, Illinois has made a similar determination. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CANTON, Fulton County, Illinois as follows: 1. That it is in the best interest of the City of Canton to purchase certain real property more particularily identified in Exhibit"A" hereto attached and upon the terms and conditions therein set forth. That said Exhibit is herein incorporated by reference. 2. That the Mayor of the City of Canton, Fulton County, Illinois is hereby authorized and directed to execute and deliver an original copy of said Exihibit to the proposed Sellers therein named. 3. That, upon acceptance of such offers, all City officers are hereby authorized and instructed to take such other and further actions as may be reasonably necessary to conclude the purchase in said Exhibit contemplated. 4. That this Resolution shall be effective 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 19th day of October , 1982,upon a roll call vote as follows: AYES: Aldermen Kovachevich, Hammond, Savill, Sarff, Grant, Carl. NAYS: None.. ~_ ABSENT: Aldermen Larsen, Horr. APPROVED: Donald E. Edwards, Mayor. ATTEST: Nancy ites, City Clerk. ~ ~ ` ,., ATTACHMENT A OFFER TO BUY REAL ESTATE AND ACCEPTANCE T0: Daniel W, and Linda Lou Ginger,he.r~eina~ter designated as "Seller". The City of Canton, a Municipal Corporation, hereinafter called the "City" hereby offers to purchase the real estate owned by the undersigned Seller situated in the City of Canton, Fulton County, State of Illinois, described as follows: Lot 5 in Block 2 in J.L.Murphy's Addition to the City of Canton, Fulton County, Illinois commonly known as 914 E. Walnut Street. 1. PURCHASE PRICE AND POSSESSION. The purchase price shall be eight thousand ( $8,000.00 ). As part of the consideration hereunder the City shall be entitled to possession of the entire tract of land herein described on or before November 8, 1982 and shall have the right to use the land and construct thereon any and all improvements contemplated notwithstanding payment may not have been made for the land nor title thereto conveyed to the City. 2. TERMS OF CONVEYANCE. The Seller shall convey by Warranty Deed to the City a good and merchantable title to the land satisfactory to the Attorney for the City, free and clear of all mineral rights, easements, restrictions, leases, judgements, taxes, and assessments, existing or inchoate, liens or encumbrances of any sort at the date of payment by the City of the purchase price, together with all right, title and interest in and to any street, roads avenues, alleys, alleyways, and rights of way, abutting or in anywise appertaining to the land herein described. The Seller agrees at their expense to pay the cost of preparation and recording all deeds or other evidence of title necessary in the opinion of the Attorney for the City to vest in the City a valid and satisfactory title to the land. The Seller agrees to furnish to the City, within ten ( 10 ) days from the date hereof, such abstracts, certificates, or other evidence of title as he may have affecting the premises to be transferred to the City. The City shall continue and pay for the Abstract of Title and examination of title at its expense but the Seller shall pay for the costs and fees incurred to clear their title. 3. PAYMENT OF PRICE. Payment of the purchase price specified in Paragraph 1 (but without any interest thereon) shall be made upon conveyance to the City of title to the land and approval thereof by the Attorney for the City, and shall be full and just compensation for all obligations of the City hereunder and all claims which the Seller may have or assert by reason of the possession or occupancy of the land by the City, whether acquisition be by direct purchase or through condemnation pro- ceedings as provided in Paragraph 5 hereof. 4. CONDITION OF PROPERTY AT TIME OF CITY'S TAKING POSSESSION. Loss or damage to the land or improvements thereon shall be at the risk of the Seller until possession thereof has been surrendered, or until title thereto has been conveyed to the City, whichever occurs first, and in the event of any loss or damage to said land, or improvements, prior to such surrender of possession or convenience of title, as the case may be, the City may, at its option, cancel the contract created by the acceptance of this offer or agree to make whatever adjustment of the purchase price that may be appropriate to cover any such loss or damage. 5. SALE PRICE OF PROPERTY IN EVENT OF CONDEMNATION PROCEEDINGS. In the event that the City considers it necessary or advantageous to its inte- rest to have the land acquired through condemnation proceedings, the Seller agrees that the price stated in Paragraph 1 which he hereby de- clares to be the fair market value of the real estate inclusive of every interest therein ,shall be full and just compensation payable by the City for the taking of the property, and that any and all awards of ~ r~ r just compensation to any and all other parties shall be payaisle and deductible from said sum. The Seller further agrees in the event of the institution of condemnation proceedings that this offer and the acceptance thereof shall constitute and be a stipulation which may be filed in such condemnation proceedings fixing the fair market value and just compensation to be paid for the taking thereof in the amount of the contract price herein set forth. 6. TIME PERIOD OFFER IS IN FORCE. If this offer is not accepted by the Seller on or before the 26th day of October, 1982, it shall become null and void. 7. TAXES. The general taxes for the year 1981, payable in the year 1982, and all unpaid taxes for prior years, shall be paid by the Seller. The general taxes for the year 1982, payable in the year 1983, shall be pro- rated from January 1, 1982 to date of payment of the purchase price. 8. DEDUCTIONS FROM PURCHASE PRICE. It is agr~ ed at the time of settle- ment, funds for the purchase price may be used to pay taxes and other liens to comply with the above requirements, same to be handled under the supervision of the Department of Community Development of the City and the legal representative of the City, as agents, and subject to the approval of the Attorney for the City on title questions involving and needed to produce merchantable title. 9. Upon acceptance of this offer by Seller, it shall become a binding contract between the parties hereto, and their heirs, executors, admini- strators, assigns, and successors in interest. However, this offer is subject to the City obtaining .all interests, including leaseholds, in the above-described property. In no event shall this offer be binding on the City unless and until it has signed Offers to Buy from parties and tenants interested in the above-described property. 10. All notices and demands herein required shall be in writing. The mailing of a notice by certified mail to the Seller shall be sufficient service thereof. Executed in duplicate at CANTON, STATE OF ILLINOIS, this 19th day of October ,1982. CITY OF C TON, ILLINOIS BY DONALD E. EDWARDS, MAYOR The foregoing Offer to Buy is hereby accepted this 19th day of M tohPr ,1982. SELLER