HomeMy WebLinkAboutThe Estate of Elias G. Grover-7/13/2015REAL ESTATE PURCHASE AGREEMENT
TO: The Estate of Elias G. Grover ("Seller")
FROM: City of Waterloo, Iowa ("Buyer")
Buyer hereby offers to buy, and the Seller by its acceptance agrees to sell, the real property
situated in Waterloo, Black Hawk County, Iowa, legally described as per the abstract of title,
consisting of assessor parcel no(s). 8913-25-181-002, also known as Original Plat Waterloo East,
SE 40' Lots 2 and 3 Block 48; together with any easements and appurtenant servient estates, but
subject to any reasonable easements of record for public utilities or roads, any zoning restrictions
customary restrictive covenants and mineral reservations of record, if any, herein referred to as
the "Property," upon the following terms and conditions:
1. EARNEST MONEY AND PURCHASE PRICE. The Purchase Price shall be $2,850.00,
of which $100.00 is on deposit with the law firm of Clark, Butler, Walsh & Hamann, to be held
in trust. The entire Purchase Price shall be due and payable in full at closing. If this Agreement
is not accepted by Seller or if it is rescinded by Buyer for failure of title or any other reason
provided for in this Agreement, then the earnest money held in trust shall be returned to Buyer.
2. POSSESSION AND CLOSING. Possession of the Property shall be delivered to Buyer
at closing. Closing shall occur at City Hall, 715 Mulberry Street, Waterloo, within sixty (60)
days after approval of this Agreement by the Waterloo City Council, subject to satisfaction of
any conditions stated in this Agreement.
3. REAL ESTATE TAXES. Seller shall pay taxes prorated to the closing date in
accordance with the provisions of Iowa Code § 427.2, and any unpaid real estate taxes payable in
prior years, either paying Buyer, or giving Buyer a credit, for all of such taxes. Buyer shall pay
all subsequent real estate taxes.
4. SPECIAL ASSESSMENTS. Seller shall pay at time of closing all installments of special
assessments which are a lien on the Property as of closing or which can be verified to be owing
as of the closing date but are not yet certified as a lien. Buyer shall pay all other special
assessments or installments.
5. RISK OF LOSS AND INSURANCE. Seller agrees to maintain existing insurance to the
date of closing and shall bear the risk of loss or damage to the Property to the date of closing. In
the event of substantial damage or destruction prior to closing, the Buyer shall have the option to
complete the closing and receive insurance proceeds regardless of the extent of damages or to
declare this Agreement null and void.
6. FIXTURES. Included with the Property shall be all fixtures that integrally belong to, are
specifically adapted to or are a part of the real estate, whether attached or detached. The
following items shall not be included:
7. CONDITION OF PROPERTY. The Property as of the date of this Agreement, including
buildings, grounds, and all improvements, will be preserved by the Seller in its present condition
until closing, ordinary wear and tear excepted. Seller sells the Property "AS IS" and makes no
warranties, expressed or implied, as to the condition of the Property.
Within 45 days after the acceptance of this Agreement, Buyer may, at its sole expense, have
the property inspected by a person or persons of its choice to determine if there are any
environmental or other deficiencies. Seller shall cooperate in providing reasonable access to
Buyer's inspectors. Within this same period, the Buyer may notify the Seller in writing of any
deficiency. The Seller shall immediately notify the Buyer in writing of what steps, if any, the
Seller will take to correct any deficiencies before closing. The Buyer shall then immediately in
writing notify the Seller that (1) such steps are acceptable, in which case this Agreement, as so
modified, shall be binding upon all parties; or (2) that such steps are not acceptable, in which
case this Agreement shall be null and void, and any earnest money shall be returned to Buyer.
8. ABSTRACT AND TITLE. Buyer, at its expense, shall obtain whatever form of title
search that it desires, which shall show marketable title in Seller in conformity with this
Agreement, Iowa law, and title standards of the Iowa State Bar Association. The Seller shall
make every reasonable effort to promptly perfect the title. If closing is delayed due to Seller's
inability to provide marketable title, this Agreement shall continue in force and effect until either
party rescinds the Agreement after giving ten days' written notice to the other party. The
abstract, if any, shall become the property of Buyer when the Purchase Price is paid in full.
9. SURVEY. Buyer may, at Buyer's expense, have the Property surveyed and certified by a
registered land surveyor prior to closing if a survey is required by law. If the survey shows an
encroachment on the Property or if any improvements located on the Property encroach on lands
of others, the encroachments shall be treated as a title defect.
10. ENVIRONMENTAL MATTERS.
A. Seller warrants to the best of its knowledge and belief that there are no abandoned
wells, solid waste disposal sites, hazardous wastes or substances, or underground storage
tanks located on the Property, the Property does not contain levels of radon gas, asbestos, or
urea -formaldehyde foam insulation which require remediation under current governmental
standards, and Seller has done nothing to contaminate the Property with hazardous wastes or
substances. Seller warrants that the property is not subject to any local, state, or federal
judicial or administrative action, investigation or order, as the case may be, regarding wells,
solid waste disposal sites, hazardous wastes or substances, or underground storage tanks.
Any exceptions to the warranties set forth above are fully described on a separate addendum
attached hereto.
B. Seller hereby represents that, to the best of its knowledge and belief, there is no active
or abandoned septic tank or septic system on the property, except as described here:
C. Buyer may, at Buyer's expense, have the Property inspected further for the existence
of any hazardous materials, substances, or wastes. Seller shall cooperate in providing
reasonable access to Buyer's inspectors and engineers. If hazardous materials, substances, or
wastes are discovered on the Property, Buyer's obligation hereunder shall be contingent upon
the removal of such materials, substances, conditions or wastes or other resolution of the
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matter reasonably satisfactory to Buyer. However, in the event Seller is required to expend
any sum in excess of $1,000 to remove any hazardous materials, substances, conditions or
wastes, Seller shall have the option to cancel this transaction and refund to Buyer all earnest
money paid and declare this Agreement null and void. The expense of any action necessary
to remove or otherwise make safe any hazardous material, substances, conditions or waste
shall be paid by Seller, subject to Seller's right to cancel this transaction as provided above.
11. DEED. Upon payment of the Purchase Price, Seller shall convey the Property to Buyer
by court officer deed, free and clear of all liens, restrictions, and encumbrances except as
provided in this Agreement. General warranties of the title shall extend to the time of delivery of
the deed excepting liens and encumbrances suffered or permitted by Buyer.
12. JOINT TENANCY IN PROCEEDS AND IN REAL ESTATE. If Seller, immediately
preceding acceptance of the offer, holds title to the Property in joint tenancy with full rights of
survivorship, and the joint tenancy is not later destroyed by operation of law or by acts of the
Seller, then the proceeds of this sale, and any continuing or recaptured rights of Seller in the
Property, shall belong to Seller as joint tenants with full rights of survivorship and not as tenants
in common; and Buyer in the event of death of any Seller, agree to pay any balance of the price
due Seller under this contract to the surviving Seller and to accept a deed from the surviving
Seller consistent with Paragraph 15.
13. JOINDER BY SELLER'S SPOUSE. Seller's spouse, if not a title holder immediately
preceding acceptance, executes this Agreement only for the purpose of relinquishing all rights of
dower, homestead, and distributive share or in compliance with Section 561.13 of the Code of
Iowa and agrees to execute the deed or real estate contract for this purpose.
14. STATEMENT AS TO LIENS. If Buyer intends to assume or take subject to a lien on the
Property, Seller shall furnish Buyer with a written statement prior to closing from the holder of
such lien, showing the correct balance due.
15. USE OF PURCHASE PRICE. At time of settlement, funds of the Purchase Price may be
used to pay taxes and other liens and to acquire outstanding interests, if any, of others.
16. 1031 EXCHANGE. N/A.
17. APPROVAL OF COURT. If the Property is an asset of any estate, trust, conservatorship,
or receivership, this Agreement shall be subject to court approval, unless declared unnecessary
by Buyer's attorney. If necessary, the appropriate fiduciary shall proceed promptly to a hearing
for court approval. In that event a court officer's deed shall be used to convey title.
18. REMEDIES OF THE PARTIES.
A. If Buyer fail to timely perform this Agreement, Seller may forfeit it as provided in the
Iowa Code (Chapter 656), and all payments made shall be forfeited; or, at Seller's option,
upon thirty days' written notice of intention to accelerate the payment of the entire balance
because of Buyer's default (during which thirty days the default is not corrected), Seller may
declare the entire balance immediately due and payable. Thereafter this Agreement may be
foreclosed in equity and the Court may appoint a receiver.
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B. If Seller fails to timely perform this Agreement, Buyer has the right to have all
payments made returned to it, or Buyer may require specific performance by Seller.
C. Buyer and Seller are also entitled to utilize any and all other remedies or actions at
law or in equity available to them, and the prevailing parties shall also be entitled to obtain
judgment for costs and attorney fees.
19. NOTICE. Any notice under this Agreement shall be in writing and be deemed served
when it is delivered by personal delivery or mailed by certified mail, addressed to the parties at
the addresses given below.
Seller: Estate of Elias G. Grover
Attn: Adrienne Smith
304 West Parker Street
PO Box 573
Waterloo, IA 50704-0573
Buyer: City of Waterloo
715 Mulberry Street
Waterloo, IA 50703
Attn: Community Planning & Development Director
20. GENERAL PROVISIONS. In the performance of each part of this Agreement, time
shall be of the essence. Failure to promptly assert rights herein shall not, however, be a waiver
of such rights or a waiver of any existing or subsequent default. This Agreement shall apply to
and bind the successors in interest of the parties. This Agreement shall survive the closing. This
Agreement contains the entire agreement of the parties and shall not be amended except by a
written instrument duly signed by Seller and Buyer. Paragraph headings are for convenience of
reference and shall not limit or affect the meaning of this Agreement. Words and phrases herein
shall be construed as in the singular or plural number, and as masculine, feminine or neuter
gender according to the context.
21. NO REAL ESTATE AGENT OR BROKER. Neither party has used the service of a real
estate agent or broker in connection with this transaction.
22. ADDITIONAL PROVISIONS AND CONTINGENCIES.
A. The parties acknowledge that Buyer is acquiring the Property for community
development purposes. Buyer's rights and duties under this Agreement are assignable to
any person or entity that will further the community development objectives
contemplated by Buyer.
B. Notwithstanding any signatures below by representatives of Buyer, this Agreement is
expressly subject to approval by the city council of Buyer.
C. Closing is contingent upon completion of environmental review and Buyer's receipt of
clearance from state/federal agencies as to same. This contingency is material to Buyer's
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funding for the Property purchase.
D. Closing is contingent on Seller terminating all tenancies and removing all occupants and
possessions from the Property before Closing. Seller shall indemnify Buyer and hold it
harmless with respect to any and all claims of Seller or any third party for loss, damage or
destruction of any personal property or fixtures left on the Property after Closing. This
provisionshall survive the Closing.
23. ENTIRE AGREEMENT. This Agreement represents the entire agreement between the
parties, superseding all prior or contemporaneous understandings, negotiations, discussions, or
agreements between the parties with respect to the subject matter hereof.
24. ACCEPTANCE. When accepted, this Agreement shall become a binding contract. If not
accepted by Seller on or before , 2014, this Agreement shall be null and void.
Dated ( 3/�
BUYER
City of Waterloo, Iowa
By:
Accepted by Seller
SELLER
Estate of Elias G. Grover
By:
Mayor Name." Adrienne Smith
Title: Co -Executor
5
By:
Name: Krystal Grover -Webb
Title: Co -Executor
EIN: 14(g-7291iLri"
funding for the Property purchase.
D. Closing is contingent on Seller terminating all tenancies and removing all occupants and
possessions from the Property before Closing. Seller shall indemnify Buyer and hold it
harmless with respect to any and all claims of Seller or any third party for loss, damage or
destruction of any personal property or fixtures left on the Property after Closing. This
provision shall survive the Closing.
23. ENTIRE AGREEMENT. This Agreement represents the entire agreement between the
parties, superseding all prior or contemporaneous understandings, negotiations, discussions, or
agreements between the parties with respect to the subject matter hereof.
24. ACCEPTANCE. When accepted, this Agreement shall become a binding contract. If not
accepted by Seller on or before , 2014, this Agreement shall be null and void.
Dated 9/(3A (S—
BUYER
City of Waterloo, Iowa
By:
Mayor
5
Accepted by Seller
SELLER
Estate of Elias G. Grover
By:
Name: Adrienne Smith
Title: Co -Executor
By:
None: . al Grover -Webb
Title: Co -Executor
BIN: 146'12-9"Mg7
COURT OFFICER DEED
THE IOWA STATE BAR ASSOCIATION
Official Foran No. P201
Recorder's Cover Sheet
Preparer Information: (name, address and phone number)
Adam Doll, 1009 Main Street, Adel, IA 50003, Phone: (515) 993-4545
Taxpayer Information: (name and complete address)
The City of Waterloo, Iowa, 715 Mulberry Street, Waterloo, Iowa 50307
Return Document To: (name and complete address)
Adam Doll, 1009 Main Street, Adel, IA 50003, Phone: (515) 993-4545
Grantors:
The Estate of Elias G. Grover
Grantees:
The City of Waterloo, Iowa
Legal Description: See Page 2
Document or instrument number of previously recorded documents:
COURT OFFICER DEED
Estate of Elias G. Grover
now pending in the Iowa District Court in and for Black Hawk County Probate No.
ESPRO56304
Pursuant to the authority and power vested in the undersigned, and in
consideration of One Dollar(s) and other valuable consideration, the undersigned, in the
representative capacity designated below, hereby Convey(s) to The City of Waterloo,
Iowa the following described real estate in Black Hawk County, Iowa:
Original Plat Waterloo East, SE 40Lots 2 and 3 Block 48.
Words and phrases herein, including acknowledgement hereof, shall be construed
as in the singular or plural number, and as masculine, feminine or neuter gender,
according to the context.
Dated: /
C.`) frvi
Adrienne Smitfi, as Co-ExecUiO'bf the Estate of Elias G. Grover
STATE OF IOWA, COUNTY OF
ss:
e vtl•., •
This record was acknowledged before me this..., day of Yr -1_ 11 , 2015
by Adrienne Smith as Co -Executor of Estate of Elias G. over.
MICHAEL JOLLEY
Commission No.764667
My CommissiorkEsspifos
Signature of NdiaryfPfiblic
Krystal Gro;✓er-
as Co -
f the .Estate of Elias G. Grover
STATE OF T L , COUNTY OF , ss:
This record was acknowledged before me this day of a.. ca„ , 2015
by Krystal Grover -Webb as Co -Executor of Estate of Elias G. Grover.
OFFICIAL, SEAL
AJA CAVIN
Notary Public-'Stale.ot Illinois
My Commission Expires Jul 26, 20%5
N1/h
Signature of &otary Public
I
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11111
REAL ESTATE TRANSFER - DECLARATION OF VALUE
Please read the instructions on the reverse side BEFORE completing and filing this form.
Part 1 T BE COMPLETED BY BUYER, SELLER OR AGENT
Date of instrument: Deed _1 E4 Contract _ 2 0 A
SELLER: The Estate of Elias G. Grover Phone: (319) 226-3543:,
Seller Address: 304 W. Parker Street, Waterloo. Iowa e-mail qt 6�
Phone: 519-2`7I P uC3Lo
e-mail
BUYER: The City of Waterloo, Iowa
Buyer Address: 715 Mulberry Street, Waterloo, Iowa
Address of Property Conveyed: unimproved lot parcel 1D 8913-25-181-00')
Legal Description: Original Plat Waterloo East, SE 40' Lots 2 and 3 Block 43
Type of Sale: 0 Sale between related parties/family 0 Sale of partial interest 0 Trade 0 Quit Claim Deed 0 Auction
Was this a sale of AG LAND to: 0 Corporation 0 Trust ❑ Alien ❑ Non -Resident Alien 0 Limited Partnership A
DECLARATION OF VALUE STATEMENT
1. Total Amount Paid $ 2,850.00
2. Amount Paid for Personal Property (see instructions) $ 0.00
3. Amount Paid for Real Property Only (1 minus 2) $ 2,850.00 c
I HEREBY DECLARE THAT THE INFORMATION CONTAINED IN PART I OF THIS FORM IS TRUE AND CORRECT AS
DETAILED ON THE BACK OF THIS FORM .
Printed Name: Adrienne. Smith, Co -Executor
Signature
Phone #: (319) 996-3543
0 Buyer or ® Seiler or 0 Agent or 0 Attorney
PART II - TO BE COMPLETED BY THE ASSESSOR
Primary Classification: ❑ Res _4_ 0 Com _5_ 0 Ind _2_ 0 Ag _ 1_ ❑ MultiRes _7_ Cityfiownship
Primary Parcel Number
YearBlt Occ NUTC
Classification
Land
Building
Dwelling
Total
Residential
Commercial
Industrial
Agricultural
Mufti Residential
Comments:
Effective On or Before 09/01114
lova Department of Revenue
ISBA 57006a (07/23114)
REAL ESTATE TRANSFER - GROUNDWATER HAZARD STATEMENT
TO BE COMPLETED BY TRANSFEROR
TRANSFEROR:
Name The Estate of Elias G. Grover
Address 304 W. Parker Street, Waterloo, Iowa
Number and Street or RR City, Town or P.O. State Zip
TRANSFEREE:
Name The City of Waterloo, Iowa
Address 715 Mulberry Street, Waterloo, Iowa
Number and Street or RR City. Town or P.Q. State Zip
Address of Property Transferred:
unimproved lot, parcel ID 8913-25-181-002
Number and Street or RR City, Town or P.O. State Zip
Legal Description of Property: (Attach if necessary)
Original Plat Waterloo East, SE 40' Lots 2 and 3 Block 43
1. Wells (check one)
x There are no known wells situated on this property.
_ There is a well or wells situated on this property. The type(s), location(s) and legal
status are stated below or set forth on an attached separate sheet, as necessary.
2. Solid Waste Disposal (check one)
x There is no known solid waste disposal site on this property.
There is a solid waste disposal site on this property and information related thereto is
provided in Attachment #1, attached to this document.
3. Hazardous Wastes (check one)
x There is no known hazardous waste on this property.
_ There is hazardous waste on this property and information related thereto is provided in
Attachment #1, attached to this document.
4. Underground Storage Tanks (check one)
x There are no known underground storage tanks on this property. (Note exclusions such
as small farm and residential motor fuel tanks, most heating oil tanks, cisterns and septic tanks,
in instructions.)
There is an underground storage tank on this property. The type(s), size(s) and any
FILE WITH RECORDER DNR form 542-0960 {July 18, 2012)
known substance(s) contained are listed below or on an attached separate sheet, as necessary.
5. Private Burial Site (check one)
x There are no known private burial sites on this property.
There is a private burial site on this property. The location(s) of the site(s) and known
identifying information of the decedent(s) is stated below or on an attached separate sheet, as
necessary.
6. Private Sewage Disposal System (check one)
_All buildings on this property are served by a public or semi-public sewage disposal
system.
x This transaction does not involve the transfer of any building which has or is required by
law to have a sewage disposal system.
There is a building served by private sewage disposal system on this property or a
building without any lawful sewage disposal system. A certified inspector's report is attached
which documents the condition of the private sewage disposal system and whether any
modifications are required to conform to standards adopted by the Department of Natural
Resources. A certified inspection report must be accompanied by this form when recording.
_There is a building served by private sewage disposal system on this property. Weather
or other temporary physical conditions prevent the certified inspection of the private sewage
disposal system from being conducted. The buyer has executed a binding acknowledgment
with the county board of health to conduct a certified inspection of the private sewage disposal
system at the earliest practicable time and to be responsible for any required modifications to
the private sewage disposal system as identified by the certified inspection. A copy of the
binding acknowledgment is attached to this form.
There is a building served by private sewage disposal system on this property. The buyer
has executed a binding acknowledgment with the county board of health to install a new private
sewage disposal system on this property within an agreed upon time period. A copy of the
binding acknowledgment is provided with this form.
There is a building served by private sewage disposal system. on this property. The
building to which the sewage disposal system is connected will be demolished without being
occupied. The buyer has executed a binding acknowledgment with the county board of health to
demolish the building within an agreed upon time period. A copy of the binding acknowledgment
is provided with this form. [Exemption #9]
_This property is exempt from the private sewage disposal inspection requirements
pursuant to the following exemption [Note: for exemption #9 use prior check box}:
•
„The private sewage disposal system has been installed within the past two years
pursuant to permit number
information required by statements checked above should be provided here or on
separate sheets attached hereto:
***Groundwater Hazard Additional Information"**
HEREBY DECLARE THAT I HAVE REVIEWED THE INSTRUCTIONS FOR THIS FORM
AND THAT THE INFORMATION STATED ABOVE IS TRUE AND CORRECT.
Signature:
r Agent) i Q
FILE WITH RECORDER
Telephone No.: (319) 226-3543
DNR form 542-0960 (July 18, 2012)
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