HomeMy WebLinkAboutResolution #0951RESOLUTION N0. 951
A RESOLUTION APPROVING CERTAIN "OFFERS 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 exucute and deliver an original copy of
said Exhibit 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 6th. day of July 1982, upon a roll
call vote as follows:
AYES: Alderman Kovachevich, Savill, Sarff, Grant, Carl and Horr.
NAYS: None
ABSENT: Alderman Hammond
APPOVED:
Donald E. Edwards, Mayor.
ATTEST:
N ncy Whi s, City Clerk.
OFFER TO BL'Y RE.~L ESTATE A.~,-D ACCEPTANCE
T0: Credithrift of Arnerica~I~cCorporation organized and existing under the
Laws of the State of Illinois, ~,zreiaa:ter designated as "Seller".
The City of Canton, a Municipal Cor?oration, hereinafter called the "City",
hereby offers to purchase the real estate o~med by the undersigned Seller
situated in the City of Canton, Fulton County, State of Illinois, described
as follows:
Lot 29 in ~tiyn,aa's Addition to the City
of Canton, Fulton County, Illinois
commonly known as 1007 East Walnut Street.
1. PL"RCHASE PRICE AND POSSESSTO`~. The purchase price shall be fifteen
thousand dollars ($15,000.00). As part of the consideration hereunder the
City shall be entitled to possession of the entire tract of land herein
described on or before July 21, 1982 and shall have the right to use the
land and construct thereon any and all improvements contemplated notwith-
standing payment may not have been ,,ade for the land nor title thereto
conveyed to the City.
2. TER.T~LS OF COw'~TEYA*;CE. 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 or all mineral rights, easements,
restrictions, leases, judgments, taxes, and assessments, existing or
inchoate, liens or encumbrances o an,: sort at the date of payment by the
City of the purchase price, together kith all right, title and interest in
and to any street, roads, avenues, alles, alleyways and rights of way, abutting
or in anywise appertaining to the land cerein 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. ine 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. PAY,~NT OF PRICE. Payment of the purchase price specified in Paragraph 1
(but without any interest thereon) shall be made upon conveyance tc5 the City
of title to the land and approval thereof by the Attorney for the City, and
shall be full and just compensa*_ion for all obligzitions of the City hereunder
and all claims which the Seller -ay ha~,~2 or assert by reason of the possession
or occupancy of the land by the City, »hether acquisition be by direct purchase
or through condemnations proceedings as provided in Paragraph 5 hereof.
4. CO~IDITIO~; OF PROPERTY AT TI'S Or CIT'i'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 conveyance
of title, as the case may be, ti:e City ;_.,ay, 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. S?LE PRICE OF PROPERTY I?; y;=`tiT Or_CO\DE,•NATION PROCEEDINGS. In the event
that the City considers it necessary or advantageous to its interest to have
the land acquired through conde:-aation proceedings, the Seller agrees that the
price stated in Paragraph 1 whica he hereby declares 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 ta'.•cing of the property, and that any
and all awards of just compensation to an,: and all other parties shall be
payable 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 consitute and be a stipulation which may be filed in such condemnation
proceedings fixing the fair market valve and just compensation to be paid
for the taking thereof in the amount of *he contract price herein set forth.
6. ThSE PERIOD OFFER IS IN FORCE. If this offer is not accepted by the Seller
on or before the 15th day of July, 1982, it shall become null and void.
7. TABS. The general taxes f.or. the year :1981, payable in the year 1982, and
all unpaid taxes for the prior years, shall be paid by the Seller. The general
taxes for the year 1982, payab'l.e in the year 1983, shall be prorated from
January 1, 1982 to date of payment of the purchase price. The actual rate will
be used if it is determined. Prior to knowledge of the actual tax rate, the
estimate of the County Clerk will be used. If the estimate of the County Clerk
is not available, the proration shall be based on the most recent ascertainable
taxes. If so requested by the City, the Seller agrees to deliver the ]_ast paid
real estate tax bill.
8. DEDUCTIONS FROM PURCHASE PRICE. It is agreed that at the time of settlement,
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.
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9. Upon acceptance of this offer by Seller, it shall become a binding agreement
between the parties hereto, and their heirs, executors, administrators, assigns,
and successors in interest. However, this offer is subject to the Ci.t:y obtaining
all interests, including leaseholds, in the above described property. In no
evznt 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 6th day of
JuIY 1982.
CITY OF CAN N, ILLINOIS
BY:
Donald E. Edwards, Mayor
The foregoing Offer to Buy is hereby accepted this 23rd day of June , 1982.
of erica, Inc.
Attest:
BY:
eeley, ice President
Lysl~ ~! Abbott, Asst. Secretary