HomeMy WebLinkAboutMary Murray-8/13/2012TOTAL ACQUISITION CONTRACT
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PROJECT !frith Arran Nnighhorhnnri RpripvpInpmrant
THIS AGREEMENT is made and entered into this _-_2_ day of -hdy ,A.D, 20_12_ by and between
Mnry MI rrny 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 10n3 Lnfnyetfe Strept
County (or City) of Wnterlon ,State of Iowa, and more particularly described on Page 3 and
which includes the following buildings, improvements and other property Hni ISP nnri I and
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 Date
$ on right of possession July 2, 2012
$ moving costs
$ relocation payment
$ $7.500 00 on possession
$ TOTAL LUMP SUM
BREAKDOWN: ac.= acres sq.ft. = square feet Land and all other
improvements including
Land by Fee Title 4 490 sq.ft. $ $7, 500 00 fence $
Underlying Fee Title ac./sq ft $ Building $
Notes: Property assessed value is 24,960 according to the Black Hawk Count.
4. SELLER WARRANTS that there are no tenants on the premises holding under the lease except.
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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. RInrk Hnwk Cnunty_ Inwn 9 ) unknnwn until rnmplrafinn of Ahctrnef
Cnnfini infirm
6. Each page and each attachment is by this reference made part hereof and the entire agreement consists of
pages.
7. Buyer may include mortgagees, lienholders, encumbrances and taxing authorities as payees on warrants as
contract payment. SELLER WILL furnish and deliver to the City of Waterloo, Iowa, an abstract of title continued to
date showing merchantable title to the premises in Seller. SELLER AGREES to obtain court approval of this contract, if
requested by the Buyer, if title to the premises becomes an asset of any estate, trust, conservatorship or
guardianship. Buyer agrees to pay court approval costs and all other costs necessary to transfer the premises to the
Buyer, but not attorney fees. Claims for such transfer costs shall be paid in amounts supported by paid receipts or
signed bills.
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 payment to endorse the proceeds of any such insurance recovery to the Buyer, and SELLER ASSIGNS
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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 occurrence of the following three items: acceptance and
approval of the contract by the City Council of the City of Waterloo; the environmental clearance of the land in
accordance with Phase I site assessment and recommended subsequent activities (attached and made a part of
this contract); and the acceptance and approval of a contract for the EDA Rath Brownfield Redevelopment
project between the Iowa Department of Economic Development and 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.
12. The attached items listed on pages are a part of this contract, as if fully set forth herein.
SELLER'S SIGNATURE AND CLAIMANT'S CERTIFICATION: Upon due approval and execution by the Buyer, we the
undersigned claimants certify the total lump sum payment shown herein is just and unpaid.
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Mnry Murrny
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SELLER'S ACKNOWLEDGMENT:
STATE OF IOWA: SS:
ss#-
ss#
On this day of, 20 , before me, the undersigned, personally appeared Mr,ry M Wray 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.
APPROVAL RECOMMENDED BY:
Notary Public in and for
the State of Iowa
Planni • ��irector
APPROVED BY: (i:i
:
(Mayor)
DATE APPROVED. b(-�`r>` (—) PO
ATTEST.
V; 47' /,2, e I
te)
(City Clerk/Auditor)
BUYER'S ACKNOWLEDGMENT:
STATE OF IOWA, 1t�. IMCOUNTY, SS:
On this ilday of % �' , AD 201 before me, the undersigned, a Notary Public in and for said County, in
said State, personally appeared p y pp Hurley and Nancy Eckert to me personally known, who, before by me duly sworn,
did say that they are the MAYOR and CITY CLERK/AUDITOR, respectively, of said City executing the within and foregoing
instrument to which this is attached, that the seal affixed theretgjs the eal of said City; that sal • instrument was signed
and sealed on behalf of said City by authority of it's City Council; and that the sai. MAYOR a ;d CITY CLERK/AUDITOR,
acknowledged the execution of said instrument to be the voluntary a t and dei 0 of said ity, by it and by them
voluntarily executed.
2
ry ' ublic in and for said County