HomeMy WebLinkAboutMaxine Scott-4/8/2013TOTAL ACQUISITION CONTRACT
PARCEL NO. 8913-16-151-015 COUNTY Black Hawk
PROJECT Sherwood Park Area Property Acquisitions ROAD NO. N/A
THIS AGREEMENT Is made and entered into thls-(-t,_ day of __ . ' t i ,A.D, 20 13 by and between
Maxine Scott Seller, and City of Waterloo, Iowa, Buyer.
1 SELLER AGREES to sell and furnish to Buyer a deed, on form(s) furnished by the Buyer, and Buyer agrees to buy the
following real estate, hereinafter Parcel No. 8913-16-151-015 in the
City of Waterloo ,State of Iowa, and more particularly described as Lot 4 of Auditor Barnes Plat No. 5
Waterloo, which includes the following buildings, improvements and other property: none, land oply
The premises also includes all estates, rights, title and interests, including all easements, and all advertising
devices and the right to erect such devices as are located thereon. SELLER ACKNOWLEDGES full settlement and
payment from the Buyer for all claims per the terms of this contract and discharges the Buyer from liability
because of this contract and the construction of this public improvement project.
2. Possession of the premises is the essence of this contract and Buyer may enter and assume full use and
enjoyment of the premises per the terms of this contract. SELLER GRANTS Buyer the immediate right to enter the
premises for the purpose of gathering survey and soil data. SELLER MAY surrender possession ofrthe premises or
building or improvement or any part thereof prior to the time at which he has hereinafter agreed to do so, and
agrees to give Buyer ten (10) days notice of Seller's intention to do so by calling Buyer at (319) 291-4366.
3. Buyer agrees to pay and SELLER AGREES to grant the right of possession, convey fitle and to surrender physical
possession of the premises as shown on or before the dates listed below.
Payment Amount Agreed Performance Date
$ $1,225 Total Lump Sum Right of Possession 60 days after the date set forth above
BREAKDOWN: ac.= acres sq.ff. = square feet Land and all other r.
improvements including
Land by Fee Title 3,062 sq.ft. $ 1,225 fence $
Underlying Fee Title 0.07 ac./sq.ff. $ 17,500 Building $
Notes: Property appraised at $1,225 by Rally Appraisal, LLC, 2302 W 1n Street, Cedar Falls, IA 50613, dated
November 16, 2012.
4. SELLER WARRANTS that there are no tenants on the premises holding under the lease except:
N/A
5. This contract shall apply to and bind the legal successors in interest of the Seller and SELLER AGREES to pay all
liens and assessments against the premises, including all taxes and special assessments payable until surrender of
possession as required by Section 427.2 of the Code of Iowa, and agrees to warrant good and sufficient title.
Names and addresses of lienholders are:
6. Each page and each attachment is by this reference made part hereof and the entire agreement consists of 2
pages.
7. Seller shall promptly provide to Buyer an abstract of title to the Property, if Seller possesses one. Buyer shall cause
the abstract of title to be updated or prepared at Buyer's sole expense. The abstract shall show marketable title
in Seller in conformity with this Offer, Iowa law, and title standards of the Iowa State Bar Association. The Seller
shall make every reasonable effort to promptly perfect title. If closing is delayed due to Seller's inability to
provide marketable title, this Offer shall continue in force and effect until either party rescinds the Offer after
giving ten (10) days' written notice to the other party. The abstract shall become the property of Buyer when
the Offer Price is paid in full. Seller shall pay the costs of any additional abstracting and title work due to any act
or omission of Seller, including transfers by or the death of Seller or its assignees. After all valid objections have
been satisfied or provided for, Seller shall have no obligation to pay for further abstracting, excepting any made
necessary by its own affairs. Unless stricken, the abstract shall be obtained from an abstracter qualified by the
Guaranty Division of the Iowa Housing Finance Authority.
8. If the Seller holds title to the premises in joint tenancy with full rights of survivorship and not as tenants in common
at the time of this contract, Buyer will pay any remaining proceeds to the survivor of that joint tenancy and will
accept title solely from that survivor, provided the joint tenancy has not been destroyed by operation of law or
acts of the Seller.
9. SELLER AGREES to keep fire, tornado, extended coverage and added perils insurance in the minimum amount of
$ ,payable to all parties as their interests may appear from this date until delivery of the
deed and possession. Buyer shall notify all insurance companies of this contract. In case of loss or destruction of
part or all of the premises from causes covered by the insurance, SELLER AGREES to accept the lump sum
1
payment to endorse the proceeds of any such insurance recovery to the Buyer, and SELLER ASSIGNS the
proceeds of any such insurance recovery to the Buyer, and SELLER ASSIGNS to Buyer any and all of Seller's rights
under such insurance contract.
10. This agreement shall become effective only upon the acceptance and approval of the contract by the City
Council of the City of Waterloo, and the environmental clearance of the land in accordance with Phase I site
assessment and recommended subsequent activities (if determined necessary by the City of Waterloo).
11. This written contract constitutes the entire agreement between Buyer and Seller and there is no agreement to
do or not to do any act or deed except as specifically provided herein.
SELLER'S SIGNATURE AND CLAIMANT'S CERTIFICATION: Upon due approval and execution by the Buyer, we the
undersigned claimants certify total lump sum payment shown herein is just and unpaid.
XX. /,
1
Maxine Sco'tt SUP -7
SELLER'S ACKNOWLEDGMENT:
STATE °V A:: SS: l j wv `t �`R�
On this f i day of -r. 1,:_7,, , A.D. 20 13 , before me, the undersigned, personally appeared
Maxine Scott known to me to be the identical persons named in and who executed the foregoing instrument and
acknowledged that they executed the same as their voluntary act and deed.
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APPROVAL RECOMMENDED BY:
Planning Director
_�i i� �� )
`,:Noii"ary Public in and for
the State of Iowa -ir��
(Date)
APPROVED BY: :Zoe ' ! . /( � ATTEST _ '-----j:,\,,+'te r )
(Mayor) (City Clerk) ,
CT
, ,, i y '3 RESOLUTION NO. C g , ® L -
DATE APPROVED:
BUYER'S ACKNOWLEDGMENT:
STATE OFtOWA,ku OUNTY, SS:
On this ' „ - ay of , 20 13 , before me, the undersigned, a Notary Public in andrfor said County,
in said State, perso ally appeared Ernest G. Clark and Suzy Schares to me personally known, who, before by me duly
swom, did say that they are the MAYOR and CITY CLERK, respectively, of said City executing the within and foregoing
instrument to which this is attached, that the seal affixed thereto is the seal of said City; that said instrument was signed
and sealed on behalf of said City by authority of it's City Council; and that the said MAYOR and CITY CLERK/AUDITOR,
acknowledged the execution of said instrument to be the voluntary act and deed of said City, by it and by hem
voluntarily executed. 1
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Public in and for sai&counfiy