HomeMy WebLinkAbout#4175 Authorizing The Purchase of Real Estate 603 Grant Place, Canton, IL 041,6
ORDINANCE NO.4175., '
AN ORDINANCE AUTHORIZING THE PURCHASE OF REAL ESTATE LOCATED AT
603 GRANT PLACE,CANTON,ILLINOIS.
WHEREAS,the City Council of the City of Canton deems it advisable and necessary for
the health, safety, and welfare of the residents of the City of Canton (the "Municipality") to
provide for the purchase of certain real property(the"Property")legally described as follows:
LOT TWO (2) OF CARL SUBDIVISION, A SUBDIVISION OF PART OF LOT ONE
(1) IN BARLOW& WEBSTER ADDITION AND A PART OF THE OLD TOLDEDO,
PEORIA & WESTERN STOCK YARDS, ALL IN THE NORTHWEST QUARTER OF
SECTION THIRTY-FIVE (35), TOWNSHIP SEVEN (7) NORTH, RANGE FOUR (4)
EAST OF THE FOURTH PRINCIPAL MERIDIAN, IN THE CITY OF CANTON,
FULTON COUNTY, ILLINOIS.
PIN: 09-08-35-110-019
Common Address: 603 Grant Place, Canton,Illinois 61520;and
WHEREAS, pursuant to the provisions-of Section 11-6.1-3 of Article 11 of the Illinois
Municipal Code, the Municipality is authorized to purchase real and personal property for public
purposes pursuant to contracts that provide for the consideration for such purchase to be paid in
annual installments during a period not exceeding 20 years; and
WHEREAS,GARY W. KINSEL, of Canton, Illinois(the"Seller")has agreed to furnish
the Property and has agreed to sell it to the Municipality for the purchase price of$149,900.00,
due and payable at closing,which shall occur on or before February 29,2020; and
WHEREAS, it is hereby estimated and determined that it will cost $149,900.00, plus
reasonable closing expenses, to purchase the Property for the Municipality, and funds are
presently and shall be in the future available therefore;
NOW, THEREFORE, BE IT ORDAINED by the City Council of City of Canton,
Fulton County and State of Illinois, as follows:
Section One: The foregoing recitals are incorporated herein as findings of the City
Council of the City of Canton.
Section Two.: The City Council of the City of Canton hereby determine that it is
advisable, necessary, and in the interests of the public health, safety, and welfare that the
Municipality purchase the Property and for the purpose of paying the purchase price thereof to
enter into an agreement with Seller providing for the purchase of the Property at a total cost of
$149,900.00, plus reasonable closing costs as set forth in the Agreement described below, due.
and payable at closing,which shall occur on or before February 29,2020.
Section Three: The City Council of the City of Canton hereby approves an Agreement for
the purchase of the Property, and said agreement shall be in substantially the form attached hereto
as"Exhibit A."
Section Four: From and after the effective date of this Ordinance the Mayor and City Clerk
are hereby authorized and directed to execute the Agreement, and to do all things necessary and
essential, including the execution of any documents and certificates,to carry out the provisions of
the Agreement. The City Attorney, Christopher J. Jump, shall be authorized and directed to make
any and all necessary revisions and amendments to the Agreement, as necessary, to accomplish
the foregoing.
Section Five: This Ordinance shall be in full force and effect from and after its passage,
approval,and publication in the manner provided by law.
PASSED by the City Council of the City of Canton,Illinois, at a regular meeting this
3rd day of December, 2019,upon a roll call vote as follows:
AYES:
NAYS:
ABSENT:
ABSTAIN:
APP VED
q4k i g4,
Kent McDowell,Mayor
ATTE
Diana Pavley-Rock, City Clerk
REAL ESTATE SALE AGREEMENT
THIS REAL ESTATE SALE AGREEMENT is made as of the day of
,20—,by and between GARY W.KINSEL of the City of Canton,State of
Illinois, hereinafter referred to as "Seller", and the CITY OF CANTON, a municipal corporation,
hereinafter referred to as "Purchaser". In consideration of the mutual covenants, payments and
conditions heretofore and hereinafter set out,the parties hereto agree as follows:
1. DEFINITIONS:
(a) The parties to this contract shall be known as the "Seller" or
"Purchaser" as required by the context of the agreement.
(b) The singular tense includes the plural and the masculine gender
includes the feminine.
(c) Titles to the paragraphs of this agreement are descriptive only and do
not alter,limit, expand or amend the substance of the section itself.
(d) The"property"or"premises"means the real estate described on Exhibit
"A", which is generally located at 603 Grant Place, Canton, Illinois
61520 and which bears Tax Identification No. 09-08-35-110-019
together with all fixtures therein or thereon which are now a part of said
premises.
2. PURCHASE AND SALE: Subj ect to the contingencies stated herein,if the Purchaser
shall first make the payments and perform the covenants hereinafter mentioned on the Purchaser's part
to be made and performed,the Seller will convey the property to the Purchaser,in fee simple,clear of
all encumbrances other than those hereinafter expressly excepted in Par.3 hereof,by a Warranty Deed,
executed by Seller.
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3. THE DEED: The deed shall be a Warranty Deed made pursuant to the provisions of
765 ILCS 5/9 and shall be subject to the following:
(a) General real estate taxes for the year in which this contract is signed subject,
however,to the pro-ration thereof as hereinafter provided.
(b) Easements as shown by the public records, provided such easements do not
materially affect the merchantability of the premises or the Purchaser's intended
use thereof as a banking facility.
(c) Zoning regulations.
(d) Building regulations, ordinances and resolutions.
(e) Easements for public and quasi-public utilities over, across and under the
property, if any, and further provided that such easements do not materially
affect the merchantability of the premises or its intended use by the Purchaser as
a banking facility.
(f) Rights of the public,the State of Illinois and the municipality in and to that part
of the property taken-or used for roads and highways.
(g) Any acts of the Purchaser or the Purchaser's successors in interest.
Said Warranty Deed shall be delivered by the Seller to the Purchaser simultaneously with the closing of
this Real Estate Sale Agreement upon full compliance with the terms and conditions hereof. Seller shall
cause said Warranty Deed and Illinois Real Estate Transfer Declaration("PTAX-203")to be prepared at
Seller's expense and Seller shall attach the appropriate revenue stamps required by Form PTAX-203 to
said Warranty Deed in order to make same recordable or allow a credit to the Purchaser at the time of
closing for the amount of such stamps. Purchaser shall pay the recording costs for said deed once the
appropriate revenue stamps have been purchased by the Seller and affixed to the Warranty Deed.
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4. PURCHASE PRICE: The Purchaser will pay to the Seller,as consideration for said
conveyance and for the covenants of the Seller the sum of$149,900.00 in the manner following: the
entire balance of$149,900.00 at closing, simultaneously with the delivery of the Warranty Deed
hereinabove provided,which then conveys merchantable title in accordance with this Agreement to the
Purchaser.
5. PRORATIONS:
a. Real Estate Taxes: Taxes for any year prior to the year in which this sale closes shall
be paid by Seller.Taxes for the year in which the sale closes shall be prorated,with Seller paying that
portion accruing prior to the date of closing and Purchaser paying that portion accruing on and after the
date of closing. If the amount of real estate taxes for any year cannot be ascertained by the time of
closing,then the taxes for that particular year shall be computed on the basis of the best available tax
information at the time of closing. Taxes for any year after the year in which this sale closes shall be
paid by the Purchaser.
b. Utilities: All utilities, if any and any other proratable items such as rent shall be
prorated to the day prior to the date of closing,with the Seller paying or receiving that portion accruing
to the Seller prior to the date of closing and the Purchaser paying or receiving that portion accruing to
the Purchaser on and after the date of closing.
C. Adjustment: All prorations and adjustments required to be made under this Paragraph
shall be made at the time of the closing of this transaction with an appropriate cash payment or a credit
to the purchase price and all such adjustments or payments,once made, shall be fmal.
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6. INSURANCE: All existing insurance now carried on the improvements on said real
estate,together with any existing public liability insurance,shall be kept in force at the expense of the
Seller until 12:00 Noon,local time,on the day following the closing of this transaction,at which time
Seller may cancel the existing insurance on the premises. In the event of material damage to or
destruction of the improvements on the premises after the date of this Agreement,but prior to the date
of closing, Purchaser shall have the right to accept the premises as it then exists, together with an
assignment of the Seller's insurance proceeds,in which event Purchaser shall complete the purchase of
the property in a timely fashion;or,in the alternative,the Purchaser may withdraw from this transaction
and receive a complete refund of any down payment made hereunder and Seller shall be entitled to
receive all of the proceeds of any policies of insurance for the damage to the improvements to the
premises.
In the event that the Purchaser elects an assignment of Seller's insurance proceeds,the Seller
shall fully cooperate with the Purchaser in all respects in connection with any dealings with or
requirements of the Seller's insurance company to complete the claim and receive the proceeds of the
policy.
7. EVIDENCE OF TITLE: A preliminary commitment for the issuance of an owner's
policy of title insurance drawn upon a reputable title insurance company in the amount of$149,900.00
shall be furnished to the Purchaser more than fifteen(15)days prior to the date of closing. Seller shall
pay all the costs and fees for the basic search,preparation of the title insurance commitment,the title
insurance premium and other such usual and customary expenses associated with the issuance of an
owner's policy of title insurance in the amount of the purchase price hereunder upon the closing of this
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transaction. Purchaser shall pay the cost of any later day search and the cost of any separate
endorsements required by Purchaser beyond the basic owner's policy of insurance being provided by
the Seller hereunder. "Title Insurance" means a Commitment for Title Insurance displaying
merchantable title in the Seller followed by the issuance of an owner's policy of title insurance in the
usual form, subject to the exceptions noted in Paragraph 3 above and such other exceptions as are
standard exceptions in a policy of title insurance of the type and kind to be issued hereunder.
8. CLOSING AND POSSESSION: This transaction shall be closed at the law office of
Barnhart,Tinsman&Associates,Ltd. 121 W.Elm Street,Canton,IL 61520 on or before February 29,
2020. Each party shall pay one-half of the expenses of the closing including,without limitation,the
preparation of the closing statements,disbursement sheets,attendance at closing by the closing agents
and the preparation and any reporting to IRS on such forms as may be required by law. Possession of
the entire premises shall be delivered simultaneously with the closing of this transaction.
9. SELLER'S WARRANTIES:
a. The premises is not a residential property and, notwithstanding that representation,
Seller nevertheless warrants that no notice has been received from any governmental authority
concerning a code violation that existed in the structure on or before the date this contract was signed.
b. SELLER WARRANTS THAT THE PLUMBING,HEATING,VENTILATION AND
ELECTRICAL SYSTEMS BEING SOLD HEREUNDER SHALL BE OPERATIONAL ON THE
DATE OF CLOSING AND THE PARTIES AGREE THAT SELLER SHALL HAVE NO
RESPONSIBILITY TO REPAIR ANY OF SAID SYSTEMS IN THE EVENT THEY FAIL AFTER
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THE DATE OF CLOSING, THE SAME BEING THE SOLE RESPONSIBILITY OF THE
PURCHASER.
C. Seller warrants that he has no knowledge of any defect in the plumbing, heating,
electrical,air conditioning systems or structural components of the improvements on the premises as of
the time of the making of this Agreement.
d. Both Purchaser and Seller acknowledge that it is not necessary to exchange Lead Paint
Disclosure form,nor Residential Real Property Disclosure form, since the premises is not residential
real estate.
e. Each of the parties represent and warrant to the other that neither has contacted any
broker, agent, "finder", or other parry who would be entitled to a fee upon the closing of this
transaction. Each party shall assume and hold the other harmless against all such fees and expenses.
f. To the best knowledge of the Seller,there is no condition existing with respect to the
premises which violates any law,rule,statute,ordinance,regulation,building code or other regulation
of any governmental or quasi-governmental authority having jurisdiction over the premises,and Seller
has not received any notice, written or otherwise, from any governmental or quasi-governmental
authority requiring the correction of any condition with respect to the premises.
g. All written materials,surveys and plats available to the Seller will be delivered to the
Purchaser at the time of closing.
h. There is no action proceeding or investigation pending or,to the Seller's knowledge,
contemplated or threatened,which affects the premises or the ownership,operation,use or condition of
the premises before any court or before any administrative agency,which has resulted or which might
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result in a change in the present condition of the premises, limit the use of the premises or the
development of the improvements thereon, or result in any environmental or EPA (state or federal)
proceeding or charge of any kind.
i. To the best of the Seller's knowledge,the premises has not been used for the discharge,
dispersal, storage, disposal,treatment,use,manufacture, generation,release or transportation of any
Hazardous Substance (as defined herein). For the purposes of this Agreement, the term"Hazardous
Substance" shall mean, without limitation, (i) those substances included within the definitions of
"hazardous substances", "hazardous materials"). "toxic substances", or "solid waste" in the
Comprehensive Environmental Response,Compensation and Liability Act,the Resource Conservation
and Recovery Act,and the Hazardous Materials Transportation Act,49 U.S.C. Section 801 and in the
regulations promulgated pursuant to said laws, as the same may be amended from time to time, (ii)
those substances listed in the United States Department of Transportation Table 49 CFR 172.101 and
any amendments thereto) or by the Environmental Protection Agency (or any successor agency) as
hazardous substances (40 CFR part 302 and any amendments thereto), (iii) such other substances,
materials and wastes which are or become regulated or which are or become classified as hazardous or
toxic under applicable local, state or federal laws, rules, regulations, ordinances, orders or other
requirements and (iv) any material, waste or substance which is or contains (A) asbestos; (B)
polychlorinated biphenyl; (C) designated as a"hazardous substance"pursuant to Section 311 of the
Clean Water Act,33 U.S.C.Sections 1251 et seq.,(33 U.S.C. §1321)or listed pursuant to Section 307
of the Clean Water Act(33 U.S.C. §1373), or any amendments to the foregoing; (D) explosives; (E)
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radioactive materials;(F)gasoline,diesel fuel,kerosene or other petroleum products not contained in a
properly registered and permitted aboveground storage tank upon the Property.
10. WOOD-INFESTATION REPORT: At least five (5) days but no more than thirty
(3 0)calendar days prior to closing,Purchaser may,at Purchaser's expense,obtain a written report from
a pest control firm certifying to the Purchaser(with a copy provided to Seller prior to closing)that the
premises have been inspected within such period for termite and other wood-destroying insect
infestation. For purposes hereof,premises shall include any attached improvements to the real estate. If
active infestation is found, the Seller shall have the election to treat the infestation by a reputable
company of Seller's choice,at Seller's expense. If structural damage due to prior or existing infestation
is found,and,further,if the cost of treatment or repair exceeds$1,500.00,Seller shall have the option of
correcting the structural damage or terminating the Agreement unless Purchaser chooses to waive such
repairs and accept the premises in the existing condition. Any other or further treatment,except as set
forth by the foregoing,shall be at the expense of Purchaser. If the estimated amount of the sum of the
treatment and repair expenses exceed $1,500.00, Purchaser shall have the option of terminating this
Agreement and upon such election this contract shall become void. Purchaser must give written notice
to Seller of infestation and structural damage no later than the date of closing and Seller shall not be
responsible for termite or other wood boring insect infestation or damage discovered, disclosed or
occurring after the date of closing. Purchaser's failure to give such written notice by the closing date
shall constitute a complete waiver of any claims against Seller under this Paragraph.
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11. DEFAULT: "Default"means the failure of either party to perform any required act or
make any required payment pursuant to the terms of this agreement. In the event the Purchaser shall
default,the Seller shall have any one or a combination of more than one of the following remedies:
a. Seller may forfeit the rights of the Purchaser under this agreement and retain the down
payment made pursuant to Paragraph 4 hereof.
b. Seller may sue the Purchaser for specific performance of the Purchaser's obligations
hereunder as well as exercise any other rights and remedies available at law or in equity.
In the event the Seller shall default,the Purchaser may sue the Seller for specific performance
of the Seller's obligations hereunder, of for Purchaser's damages flowing from a breach of this
agreement by the Seller, as well as the exercise any other rights and/or remedies available at law or
in equity.to the Purchaser.
In the event of default, the defaulting party shall reimburse non-defaulting party for all
reasonable attorney's fees and reasonable expenses of litigation incurred by the non-defaulting party in
the enforcement of the obligations hereunder or in such amounts as may be determined by a court.
12. PURCHASER'S CONTINGENCIES: This Agreement is contingent upon each ofthe
following items:
a. Financing:Purchaser shall immediately upon the execution of this Agreement,attempt
to procure financing for the purchase price hereunder through any reputable financing option Purchaser
shall deem appropriate and in accordance with Illinois law. In the event that Purchaser shall fail to fmd
acceptable financing options which can be agreed upon by the requisite vote ofthe Canton City Council
or that are otherwise in accordance with Illinois law,then Purchaser may cancel this Agreement without
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penalty and without any further obligation for performance,and this Agreement shall then become null
and void as to the parties.
b. Appraisal:Purchaser shall;at Purchaser's expense,have twenty-eight(28)days after the
date of acceptance within which to obtain an appraisal of the Premises by a disinterested appraiser.If
the appraisal is less than the purchase price and Purchaser serves a copy of appraisal to Seller in the
manner provided in the Contract within the aforementioned twenty-eight(28)day period,this Contract
shall be terminated unless the Seller elects to accept in writing.the appraised price as the purchase price,
or the parties mutually agree on a purchase price within five(5)days after Purchaser's notice.
C. City Council Approval:This Agreement is contingent upon the affirmative vote of three-
fourths(3/4)of the Canton City Council.In the event that the Canton City Council shall fail to approve
of this Agreement by an affirmative vote of three-fourths (3/4), then Purchaser may cancel this
Agreement without penalty and without any further obligation for performance, and this Agreement
shall then become null and void as to the parties.
13. PUBLICATION IN NEWSPAPER: Purchaser shall be authorized to publish any
notice of this Agreement or sale, including without limitation any Ordinance related thereto, or any
other publication required under Illinois law, in a newspaper or newspapers of general circulation in
Fulton County in order to abide by any such laws governing municipalities.
14. MISCELLANEOUS: The following miscellaneous provisions shall also apply to and
be a part of the agreement between the parties hereto:
a. Purchaser has personally examined the real estate that is the subject matter of this
Agreement and is satisfied as to its condition and all other matters pertaining to it. This Agreement is
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made as a result of said examination and through and in reliance on the representations and warranties
of the Seller expressed herein.
b. This Agreement represents the total agreement of the parties and there are no other
agreements,written or oral,which are not made a part hereof.
d. Purchaser shall be free to obtain a survey at Purchaser's sole expense and without any
expense to the Seller hereunder. Seller shall cooperate to make the premises available to the
Purchaser's surveyor.
e. Each party will hold the other harmless from any and all brokers'commissions,fmders'
fees,consultants'fees or auctioneer fees due upon the closing of the transaction herein contemplated to
any auctioneer,broker, salesman, agent,fmder or consultant claiming to have acted on either party's
behalf.
f. This Agreement shall be binding upon the heirs,successors,executors,administrators
and assigns of the parties hereto.
g. Any warranties,agreements and obligations of either of the parties hereto which provide
for future performance shall not be deemed merged in the delivery of any deed or delivery of any
document at the closing ofthis transaction,but shall remain in full force and effect and fully enforceable
as a part of this contractual agreement and shall not be deemed merged or destroyed as a result of the
closing of this transaction.
h. Time shall be in all things of the essence of this Agreement and all of the covenants and
agreements contained herein.
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WITNESS the hands and seals of the parties hereto on the day and year first above written.
SELLER: PURCHASER:
CIT OF CANTON .
Gary W. Kinsel ent McDowell, Mayor
AttK:W C
Diana Pavley Rock, City Clerk
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r
EXHIBIT A
LOT TWO (2) OF CARL SUBDIVISION,A SUBDIVISION OF A PART OF LOT ONE (1) IN
BARLOW& WEBSTER ADDITION AND A PART OF THE OLD TOLEDO,PEORIA&
WESTERN STOCK YARDS,ALL IN THE NORTHWEST QUARTER OF SECTION
THIRTY-FIVE (35), TOWNSHIP SEVEN(7)NORTH, RANGE FOUR(4)EAST OF THE
FOURTH PRICIPAL MERIDIAN, IN THE CITY OF CANTON, FULTON COUNTY,
ILLINOIS.
PIN: 09-08-35-110-019
COMMON ADDRESS: 603 Grant Place, Canton, Illinois 61520
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