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Home My WebLink AboutPrairie Construction Co.-11/25/2013Mayor BUCK CLARK COUNCIL MEMBERS DAVID JONES Ward 1 CAROLYN COLE Ward 2 HAROLD GETTY Ward 3 QUENTIN HART Ward 4 RON WELPER Ward 5 BOB GREENWOOD At -Large STEVE SCHMITT At -Large CITY OF WATERLOO, IOWA COMMUNITY PLANNING AND DEVELOPMENT 715 Mulberry Street • Waterloo, Iowa 50703-5783 • (319) 291-4366 Fax (319) 291-4262 NOEL C. ANDERSON, Community Planning & Development Director Council Communication City Council Meeting: 11/25/13 Prepared: 11/20/13 Dept. Head Signature: # of Attachments: 3 SUBJECT: Acceptance of Total Acquisition Contract for: Parcel #8913-16-301- 001, Auditor Whitney Road Plat Part of Lot 54, generally located at the southeast corner of North Hackett Road and Greenwood Avenue, Prairie Construction Company, Inc., successor in interest to Jens Olesen & Sons Construction Company, $40,000.00, plus up to $1,000 in closing expenses. Submitted by: Aric Schroeder, City Planner Recommended City Council Action: Adopt a resolution approving the total acquisition contract. Summary Statement: Acceptance of total acquisition contract for Parcel #8913.16- 301-001 as part of the Sherwood Park Recreation Area and Hartman Reserve Nature Center Additions Project. Expenditure Required: $40,000.00 plus up to $1,000.00 in closing expenses. Source of Funds: Department of Natural Resources Resource Enhancement and Protection (REAP) Fund Grant, grant agreement number 12-R4-XQ. Policy Issue: N/A Alternative: N/A Background Information: The City Council previously approved the application and grant agreement for the implementation of a Resource Enhancement and Protection Fund Grant agreement (REAP) to assist the City of Waterloo in the acquisition and development of land for the enhancement and protection of open space areas in the Sherwood Park area. The Total Acquisition Contract is subject to the City Council approval of the form of offer and the specific offer terms for each property. We have received an accepted offer on the above property and are requesting Council approval of the offer so that we can proceed to closing on the property. Please find attached a copy of the Total Acquisition Contract for the property in question. The purchase price is based on the appraised value for the property. The City of Waterloo had previously executed an acquisition contract CITY WEBSITE: wwwci.waterloo.ia.us WE'RE WORKING FOR YOU! An Equal Opportunity/Affirmative Action Employer dated June 18, 2013 that was approved by the Waterloo City Council on July 1, 2013 by Resolution No. 2013-569. Said contract expired by its terms, and the parties have agreed that the former contract is of no further force or effect, and the attached contract is intended as a new agreement between the parties concerning the acquisition of the same subject property, but with certain terms revised, including a change in the previously approved purchase price of $35,500, which is being increased to $40,000 based on an updated appraisal. Said updated appraisal has been approved by the DNR, who has oversight of the REAP grant. Legal Description: AUDITOR WHITNEY ROAD PLAT PART OF LOT 54 COM AT NWLY COR LOT 19 SHERWOOD PARK TH SELY 668 FT 8 IN TO RT OF WAY OF C RI&PRRTHNWLY 585 FT TO ROAD ON SEC LINE TH 313 FT 6 IN N TO COUNTY ROAD TH WELY 471 FT 10 IN TO BEG. CC: Noel Anderson, Community Planning & Development Director Aric Schroeder, City Planner file TOTAL ACQUISITION CONTRACT PARCEL NO. 8913-16-301-001 COUNTY PROJECT Sherwood Park Area Property Acquisitions ROAD NO. THIS AGREEMENT is made and entered Into this 25th day of November Prairie Construction Co., Inc., successor in interest to Jens Olesen Seller, and City of Waterloo, Iowa, Buyer. Black Hawk N/A ,A.D, 20 13 by and between & Sons Construction Company, 1. SELLER AGREES to sell to Buyer, and Buyer agrees to buy, the following real estate, hereinafter Parcel No. 8913- 16-301-001 in the City of Waterloo ,State of Iowa, and more particularly described as AUDITOR WHITNEY ROAD PLAT PART OF LOT 54 COM AT NWLY COR LOT 19 SHERWOOD PARK TH SELY 668 FT 8 IN TO RT OF WAY OF CRI&PRR TH NWLY 585 FT TO ROAD ON SEC UNE TH 313 FT 6 IN N TO COUNTY ROAD TH WELY 471 FT 10 IN TO BEG, as said parcel may be more accurately described in the abstract of title, which includes the following buildings, improvements and other properly: none, land only 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 of the 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 title and to surrender physical possession of the premises as shown on or before the dates listed below. Payment Amount Agreed Performance $ 40,000 Total Lump Sum Right of Possession Date Within 90 days after the date set forth above, unless extended by mutual agreement of the parties Notes: Property appraised at $40,000 by Rally Appraisal, LLC, 2302 W 1St 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: 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. Following consultation with Buyer about the timing of closing, 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 orprepared 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 Finance Authority. At closing, Seller shall convey title to Buyer by warranty deed. 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 1