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HomeMy WebLinkAboutWilliam B Walters-9/6/2011ACQUISITION CONTRACT Parcel Nos RR13-16-996-009 RR13-15 -1 01 -Ona R. RR13-15-196-001 PROJECT Stinting Rnnd FxiPncinn/Anchnrnttgh Avanua Imprnvam€ nfc THIS ACQUISITION CONTRACT (the "Contract") is made and entered into as of between Willinm R Wnlfarc ("Seller"), and City of Waterloo, Iowa, ("Buyer"). ,2011 by and 1. Seller agrees to sell to Buyer, and Buyer agrees to buy, the following real estate and/or easement interests (the "Property"), described as• - - - • • • + • + • • . i•• - • • • • " • • • ", City of Waterloo, State of Iowa, which includes the buildings, improvements and other fixtures thereon. The Property also includes, if applicable, all estates, rights, title and interests, including all easements, and all advertising devices and the right to erect such devices as are located thereon. 2. Possession of the Property 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 hereby grants Buyer the immediate right of access and entry to the Property for project purposes, including but not limited to gathering survey and soil data. Seller may surrender possession of the Property or any part thereof prior to the time at which it 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. The Purchase Price shall be $ 95,96o nn based on a fee title value of $15,000 per acre, as itemized on Exhibit "B" attached hereto. Of the Purchase Price, $100.00 is on deposit with the law office of Clark, Butler, Walsh & Hamann, to be held in trust, and the balance of the Purchase Price shall be due and payable in full at closing, to be delivered to the Seller upon performance of Seller's obligations and satisfaction of Buyer's contingencies, if any. If this Contract is not accepted by Seller or if it is rescinded by Buyer for failure of title or any other reason provided for in this Contract, then the eamest money shall be returned to Buyer. Any other release of earnest money shall require the written consent of both parties. In addition to the Purchase Price, if Seller is eligible for relocation expenses then it shall also receive relocation housing costs equal to the amount by which the Purchase Price of Seller's replacement property exceeds $118,800, up to a maximum award of $22,500. 4. Possession of the Property shall be delivered to Buyer at closing, which shall occur on or before as the parties may hereafter agree, but in any event after the approval of title by Buyer and satisfaction or waiver of contingencies, if any. No later than the closing date, Seller shall remove from the Property all of its personal property, trash, and debris of any type that is not a structure or a fixture. Within said time Seller shall also remove all hazardous materials and/or substances from the Property on or above the ground surface, including but not limited to barrels, cans, or bottles of any kind. Costs incurred by Buyer to remove any items left behind by Seller shall be set off against moving costs and/or other expenses that Buyer agrees to reimburse to Seller under this Contract. 5. Seller warrants that there are no tenants on the Property holding under a lease except. 6. This Contract shall apply to and bind the legal successors in interest of the Seller, and Seller agrees to pay all encumbrances, claims, liens and assessments against the Property, 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 merchantable title. Names and addresses of lienholders are* (o) Bieck Hawk County, Iowa, for taxes (b) Unknown until r-ompletion of abstract rontinuation 7. Buyer may include mortgagees, lienholders, encumbrances and taxing authorities as payees on warrants as contract payment. Seller will furnish and deliver to Buyer an abstract of title continued by Black Hawk County Abstract Company to a date within thirty (30) days before the closing date, showing merchantable title to the Property in Seller in conformity with this Contract, Iowa law, and title standards of the Iowa State Bar Association. Seller agrees to pay the cost of abstract continuation, or creation, as necessary. Seller agrees to obtain court approval of this Contract, if requested by the Buyer, if title to the Property becomes an asset of any estate, trust, conservatorship or guardianship. Seller agrees to pay court approval costs and all other costs necessary to transfer the Property to the Buyer. Seller shall convey the Property to Buyer by warranty deed, free and clear of all liens, restrictions, and encumbrances except as provided in this Contract. 8. [This paragraph is optional depending on whether relocation expenses are involved.] Moving and relocation expenses of Seller shall be paid by Buyer, as set forth in this paragraph. Seller will provide to the Buyer a minimum of two estimates from professional moving companies. In addition, Buyer will reimburse Seller for its actual miscellaneous, reasonable closing costs and expenses based on invoices supplied by Seller to Buyer. Any and all costs incurred by Seller in connection with cleaning up the Property to ready it for closing are not considered moving or relocation expenses. 9. If the Seller holds title to the Property 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. 10. Seller agrees to keep property hazard insurance coverage in force in a minimum amount equal to the Purchase Price, payable to all parties as their interests may appear, from the date of this Contract 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 Property from causes covered by the insurance, Seller agrees to accept the lump sum payment and to endorse the proceeds of any such insurance recovery to the Buyer. Seller hereby assigns the proceeds of any such insurance recovery to the Buyer, and Seller hereby assigns to Buyer any and all of Seller's rights under such insurance contract. 11. The Seller has agreed to sell the Property to the Buyer. Seller acknowledges if it fails to complete its duties of performance under this Contract, Buyer may exercise its power of eminent domain to acquire the Property, provided that the Property is deemed essential by the City Council to keep the project moving forward, or Buyer may exercise other remedies available under applicable law. Buyer agrees to cooperate with Seller, at Seller's request and at no additional cost to Buyer, to have this transaction qualify as an involuntary conversion pursuant to § 1033 of the Internal Revenue Code. 12. This Contract shall become effective only upon the occurrence of each of the following two events: (a) acceptance and approval of the Contract by the City Council of the City of Waterloo, and (b) the environmental clearance of the Property in accordance with Phase I site assessment and recommended subsequent activities. In supplementation of the Phase I, Seller agrees, no later , to disclose to Buyer all contamination of the Property by hazardous wastes and/or substances of which Seller has knowledge. 13. This Contract is further subject to the following terms and conditions: (a) Field entrances shall be constructed to Iowa Dep't of Transportation standards. (b) Access points to farm fields will be determined on site with a representative from the consultant. (c) Seller will receive six (6) dump truck loads of black dirt during the construction process. (d) The area graded for the future expansion of Shaulis Road will not be leased out for farming or gardening purposes. 14. This Contract, together with the exhibits and attachments attached hereto, 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. This Contract may be modified only in a writing signed by both parties. lime is of the essence of this Contract. WHEREFORE, the parties have entered into this Acquisition Contract as of the date first set forth above. (04,i William B. Walters CJ((Iw B. Wee (-(-Pvs [Seller name] SELLER'S ACKNOWLEDGMENT: STATE OF IOWA: ss: Acknowledged before me on 4J7UJT /B 2bf/ , by Seller]. I.?''J TIM ANDERA • COMMISSION NO. 757031 • • MFEB FEBRUARY COMMISSION EXPIRES12 City Planning Staff APPROVED BY. (Mayor) DATE APPROVED. kiAltiNttr L./ dOII BUYER'S ACKNOWLEDGMENT: STATE OF IOWA, BLACK HAWKCOUN , ss: SSN or EIN SSN or EIN f[as Notary Public ott4) - of (Date) ATTEST R (Cty Clerk) Acknowledged before me on ' '�,,"e kLc--it i1 by Ernest G. Clark and SlUzy Schares as Mayor and City Clerk, respectively, of the City of Waterloo, loL'�. a. 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JJ 1RX AVIA dO JIrn»a dO Na1JJSIf1b0V ooLJaleM Jo 1i}tp 9t N01103S 'ON 1331'Odd uNnOO 2 of 2 DESCRIPTION OF ATTACHED PLAT FOR PARCEL NO. 14 BLACK HAWK COUNTY PROJECT NO. STP -U-8155(711)-70-07 THE FEE SIMPLE TITLE GRANTED IS TO LAND DESCRIBED AS FOLLOWS: A parcel of land in the Northeast Quarter of the Northeast Quarter of Section 16, Township 88 North, Range 13 West of the 5th P.M., Black Hawk County, Iowa, as shown on the Acquisition Plat for Acquisition of Right of Way Exhibit "N', attached hereto and by reference made part hereof and more particularly described as follows: Referring to the Northeast Corner of said Section 16; Thence South 89°57'32" West, 55.01 feet on the North line of said Northeast Quarter of the Northeast Quarter to the West Right of Way line of Kimball Avenue and the Point of Beginning; Thence South 00°09'12" East, 36.20 feet on said West Right of Way line; Thence South 88°57'32" West, 1270.27 feet to the West line of said Northeast Quarter of the Northeast Quarter; Thence North 00°12'37" West' 36.21 feet on said West line to the Northwest Corner of said Northeast Quarter of the Northeast Quarter; Thence North 88°57'32" East, 1270.30 feet on the North line of said Northeast Quarter of the Northeast Quarter to the Point of Beginning; containing 1.06 acres more or less; Note: The North line of the Northeast Quarter of Section 16, Township 88 North, Range 13 West of the 5th P.M., is assumed to bear South 88°57'32" West. COUNTY City of Waterloo ACQUISTI'ION OF RIGHT OF WAY EXHIBIT "A-2" I OF 2 BLACK HAWK STATE CONTROL NO. PROJECT NO. ___ _._,__ STP -U-8155(711)--70-07 PARCEL NO. 15 SECTION 15 TOWNSHIP 88 NORTH RANGE ROW -FEE 5.29 AC, TEMP EASE AC, PERM EASE AC 13 WEST I WEST LINE NW 1/4 OF THE NW 1/4 15-88-1J N 00709'18" W NIN 6 EAST LINE NW 1/4 OF THE NW 1/4 15-88-13 Co tL1 Ca r KIMBALL AVE. NW CORNER 15-T88N-R13W FND. 3" ALUMINUM DISC N 8837'.784 E 55.00' POINT OF BEGINNING NORTH LINE NWI/4 NW1/4 15-88-13 EAST UNE 5W 1/4 OF THE SW 1/4 10-88-13INN NORTH LINE NE1/4 NWI/4 15-88-13 S 8837'38" W PLAT LEGEND: A DENOTES SECTION OMER FOUND II DENOTES SECTION CORNER SET • DENOTES IRON PIPE OR PIN FOUND CS DENOTES 5/8' REBAR W/ YELLOW PLASTIC CAP NO. 17340 SET M MEASURED (R) RECORDED (P) PLATTED OWNER: WILLIAM 8 WALTERS TAX PARCEL. NO.: 8813-15-126-001 8813-15-101-004 SURVEY REQUESTED an CITY OF WATERLOO SURVEYED: MARCH TO MAY 2008 S 0021'08' E 94.21' SCALE r=.3001 0' 75' 150' 300' NORTH 1/4 CORNER 15- T88N-R 13W FND. 1/2" REBAR 600' EASrERI,Y RIGHT OF WAY LINE OF kiM ALL AVE Asauisition 15 -88N -13W NW1/4 NW1/4 = 2.74 AC. NE1 /4 NW1 /4 = 2.55 AC. TOTAL = 5.29 AC. WEST RIGHT OF WAY LINE OF HAWKLThE ROAD HAWKEYE ROA© NON% LA J; MARSH y.—. 1 HEREBY CERTIFY THAT 11415 LAND SURVEYING DOCUMENT AND THE RELATED SURVEY WORN WAS PERFORMED BY ME OR UNDER MY DIRECT PERSONAL SUPERVISION AND THAT 1 AM A DULY dirIOWA. LAND SURVEYOR UNDER THE LAWS of THE CHAD D 7��.2Q%/ LICENSE /AMBER 17141 MY UCENSE RENEWAL. DATE 13 DECEMBER 31. 2012. PAGES OR SHEETS COVERED BY THIS SEAL! SHEETS 1 and 2 EA-rho/T-4/4-z" 2 of 2 DESCRIPTION OF ATTACHED PLAT FOR PARCEL NO. 15 BLACK HAWK COUNTY PROJECT NO. STP -U-8155(711)-70-07 THE FEE SIMPLE TITLE GRANTED IS TO LAND DESCRIBED AS FOLLOWS: A parcel of land in the Northwest Quarter of Section 15, Township 88 North, Range 13 West of the 5th P.M., Black Hawk County, Iowa, as shown on the Acquisition Plat for Acquisition of Right of Way Exhibit "A", attached hereto and by reference made part hereof and more particularly described as follows: Referring to the Northwest Corner of said Section 15; Thence North 88°57'38" East, 55.00 feet on the North line of said Northwest Quarter to the East Right of Way line of Kimball Avenue and the Point of Beginning; Thence continuing North 88°57'38" East, 2444.91 feet on said North line to the West Right of Way line of Hawkeye Road; Thence South 00°21'08" East, 94.21 feet on said West Right of Way line; Thence South 88°57'38" West, 2445.23 feet to the East Right of Way line of Kimball Avenue; Thence North 00°09' 18" West, 94.22 feet on said East Right of Way line to the Point of Beginning; containing 5.29 acres more or less; Note: The North line of the Northwest Quarter of Section 15, Township 88 North, Range 13 West of the 5th P.M., is assumed to bear North 88°57'38" East. FXHIRIT "R" Arres Price Price per acre (fee interest) = $15,000.00 Pnrc-PI 14 Fee acquisition 1.06 $15,900 porrPI 15, Fee acquisition 5.29 $79,350 TOTAL $95,250