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Home My WebLink AboutMetropolitan Transit Authority-Aquisition Contract - 6/24/19ACQUISITION CONTRACT Please return this copy to; City Clerk & Finance Dept. 713 Mulberry St. Waterloo, IA 50703 Parcel No. 1 PROJECT Jefferson St and Commercial St Streefscape Improvements THIS ACQUISITION CONTRACT (the ' Contract") is made and entered into as of c SUhc. 34 , 2019 by and between Metropolitan Transit Authority ("Seller"), and City of Waterloo, Iowa, ("Buyer"). 1. Seller agrees to sell to Buyer, and Buyer agrees to buy, the following real estate and/or easement interests (the 'Property"), described as: See Right -of -Way Acquisition Plat and legal description attached as Exhibit "A", and Temporary Construction Easement Plat and legal description attached as Exhibit "B" City of Waterloo, State of Iowa which includes any 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 $ 4,970.80. This price includes $4,560 for the fee title right-of-way acquisition of the 1,140 SF area identified in Exhibit "A", and $410.80 for the temporary construction easement on the 1,027 SF area identified in Exhibit "B". 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: fa) Black Hawk County Iowa for taxes. (b) Unknown until completion of abstract continuation 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. Buyer 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. Reserved 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 if the Buyer chooses to perform a Phase I. In supplementation of the Phase I, Seller agrees no later than , to disclose to Buyer all contamination of the Property by hazardous wastes and/or substances of which Seller has knowledge. 13. 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. Time is of the essence of this Contract. WHEREFORE, the parties have entered into this Acquisition Contract as of the date first set forth above. /n' JG Hyl. 1702- 27/ **NAME**, **TITLE**, Metropolitan Transit Authority SSN or EIN /`�,¢'' ,I, 74Z/C [Seller name] SELLER'S ACKNOWLEDGMENT: STATE OF IOWA: ss: Acknowledged before me on Seller] . SSN or EIN &11 Zol9 , by Kk2k L+te ,��a TIM ANDERA 2 ' COMMISSION NO. 772518 * -"—""' * MY COMMISSION EXPIRES iowA APRIL 11, 2021 APPROVAL OMM City Planning Staff [asi4tWil— AtIff..et- of Notary Public APPROVED BY: L ATTEST: (Mayor) DATE APPROVED: 'i1Mt 14, , ao 1 L BUYER'S ACKNOWLEDGMENT: STATE OF IOWA, BLACK HAWKCOUNTY, ss: Acknowledged before me on MA._ respectively, of the City of Waterloo, Iowa. LeAnn M. Even Commission Number 731693 My Commission Expires: U -IS - aot (Date) by Quentin Hart and Kelley Felchle as Mayor and City Clerk, • Not 2 Public EXHIBIT "A" RIGHT-OF-WAY ACQUSITION PLAT JEFFERSON STREET & COMMERCIAL STREET STREETSCAPE IMPROVEMENTS CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA OWNER: METROPOLITAN TRANSIT AUTHORITY COUNTY PARCEL NO. 8913-23-452-007 PROJECT PARCEL NO. 01 SECTION: 23 TOWNSHIP: 89 N RANGE: 13 W ND. CUT "X POINT OF BEGINNING WESTERLY MOST CORNER OF LOT 28, AUDITOR'S nrtu. ,Z rzconrt S 48'32'37" E 60.96' FALLS AVENUE AND 11 FNO._Y�REBAft ..\\,...........___--- MULLAN AVENUE PLAT 1t\• • R.O.W. ACQUSITION 1,140 SQUARE FEET I 523.94' N 48'59'48" W 67.75' • _ � S 41'27'23" W 17.45' •F N 625751" E 124.28' (S 62424'24" W 124.22') N 6257 1204 LOT 28 AUDITOR'S FALLS AVENUE AND MULLAN AVENUE PLAT • N 485948" W 533.75'F,o_ (533.7') LEGEND ® PARCEL OR LOT CORNER MONUMENT FOUND O SET 1/2 x 24 REBAR w/YELLOW PLASTIC ID CAP #21428 N 62'07'51" E 124.28' MEASURED DIMENSION S 62124'24" W 12422') RECORD DIMENSION I hereby reilry that nils Load swreijny document was pared by me or under my and m Land am>« undid th:eet got;persfor thmstole lon /ARON L MUELLER Dale license number 21428 My license retinal Pages or abee„c�edbyy sal: ozo A=COM SCALE IN FEET 0 10 20 30 40 1”=20' JJN SHEET 1 OF 2 INDEX LEGEND _OCA HUN: _OT 28, AUDITOR'S FALLS AVENUE AW MUI I AN AVENUE PI AT 2LUULS IUk: :IT OF WATERLOO, IOWA 'HOPHILIUN: NETROPOUTAN TRANSIT AUTHORITY 511HVEYOH: AARON MUELLER 8UNVLY PREPARED 8Y: AECOM 501 SYCAMORE STREET, SUITE 222 WATERLOO, IOWA 50703 PHONE 319-874-6587 AARON.MUELLER®AECOM.COM RESPOND TO: RIGHT-OF-WAY ACQUSITION PLAT JEFFERSON STREET & COMMERCIAL STREET STREETSCAPE IMPROVEMENTS CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA OWNER: METROPOLITAN TRANSIT AUTHORITY COUNTY PARCEL NO. 8913-23-452-007 PROJECT PARCEL NO. 01 SECTION: 23 TOWNSHIP: 89 N RANGE: 13 W ND. CUT "X POINT OF BEGINNING WESTERLY MOST CORNER OF LOT 28, AUDITOR'S nrtu. ,Z rzconrt S 48'32'37" E 60.96' FALLS AVENUE AND 11 FNO._Y�REBAft ..\\,...........___--- MULLAN AVENUE PLAT 1t\• • R.O.W. ACQUSITION 1,140 SQUARE FEET I 523.94' N 48'59'48" W 67.75' • _ � S 41'27'23" W 17.45' •F N 625751" E 124.28' (S 62424'24" W 124.22') N 6257 1204 LOT 28 AUDITOR'S FALLS AVENUE AND MULLAN AVENUE PLAT • N 485948" W 533.75'F,o_ (533.7') LEGEND ® PARCEL OR LOT CORNER MONUMENT FOUND O SET 1/2 x 24 REBAR w/YELLOW PLASTIC ID CAP #21428 N 62'07'51" E 124.28' MEASURED DIMENSION S 62124'24" W 12422') RECORD DIMENSION I hereby reilry that nils Load swreijny document was pared by me or under my and m Land am>« undid th:eet got;persfor thmstole lon /ARON L MUELLER Dale license number 21428 My license retinal Pages or abee„c�edbyy sal: ozo A=COM SCALE IN FEET 0 10 20 30 40 1”=20' JJN SHEET 1 OF 2 EXHIBIT "A" CONTINUED PREPARED BY: AARON L. MUELLER, AECOM, 501 SYCAMORE STREET, SUITE 222, WATERLOO, IOWA, 50103, 319-232-6531 DESCRIPTION: PART OF LOT 28 IN AUDITOR'S FALLS AVENUE AND MULLAN AVENUE PLAT IN THE CITY OF WATERLOO, BLACK HAWH COUNTY, IOWA DESCRIBED AS FOLLOWS: BEGINNING AT THE WESTERLY MOST CORNER OF SAID LOT 28; THENCE NORTH 6240751" EAST ALONG THE NORTHWESTERLY LINE OF SAID LOT 28. 19.23 FEET; THENCE SOUTH 48'32337" EAST, 60.96 FEET; THENCE SOUTH 41'27'23" WEST, 17.45 FEET TO THE SOUTHWESTERLY LINE OF SAID LOT 28; THENCE NORTH 48659'48" WEST ALONG THE SOUTHWESTERLY LINE OF SAID LOT 28, 67.75 FEET TO THE POINT OF BEGINNING. THIS PARCEL CONTAINS 1,140 SQUARE FEET. BEARINGS ARE BASED ON THE NORTHWESTERLY LINE OF SAID LOT 28 BEARING NORTH 62'0151" EAST. ACOM SHEET 2 OF 2 EXHIBIT "B" TEMPORARY CONSTRUCTION EASEMENT PLAT JEFFERSON STREET & COMMERCIAL STREET STREETSCAPE IMPROVEMENTS CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA OWNER: METROPOLITAN TRANSIT AUTHORITY COUNTY PARCEL NO. 8913-23-452-007 PROJECT EASEMENT PARCEL NO. 01 SECTION: 23 TOWNSHIP: 89 N RANGE: 13 W END. CUT N 62107'51" E 124.28' (9 627424" W 124.22') POINT OF BEGINNING N 62'O7'51" E X" 19.23' POINT OF COMMENCEMENT WESTERLY MOST CORNER OF LOT 28, AUDITOR'S FALLS AVENUE AND MULLAN AVENUE PLAT N 62'0751" E 10.69' N 48'32'37" W N 48'59048" W N 41'27'23" E It FN[ LOT 28 AUDITOR'S FALLS AVENUE AND MULLAN AVENUE PLAT S 4E732'37" E 31.51' N 462928" E 13.96' '# • EMPORARY EASEMENT" 1,027 SQUARE FEET ✓ t O/ / 60.96' `� 69.70' 17.45' •N 48'59'48" W 523.67' ✓\�>\ N 48'59'48" W 533.75' F� (533.7') SO^^� V LEGEND: ® PARCEL OR LOT CORNER MONUMENT FOUND O SET 1/2" x 24" REBAR w/YELLOW PLASTIC ID CAP #21428 N 62'0751" E 12 .28' MEASURED DIMENSION S 6224'24" W 12 22') RECORD DIMENSION hereby certify that Ihi: tend Simyrg document was pard by me a under my (not peramd aFermian and Licensed ander tie Iowa m the S State Iowa AARON L IFR Dale License numbtr 21428 uy license renewal dote Is December 31, P yes 'hi 2020 AECOM S 48'32'37" E 26.74' S 41'55'26" W 41.34' • 523.94' • • • • • • • • • • SCALE IN FEET 0 10 20 30 40 111=20' SHEET 1 OF 2 INDEX LEGEND _UCARON: _OT 28, AUDITOR'S FALLS AVENUE AIVMUI I AN AVENUE PI AT REUUESIOR: CI �� OF WATERLOO, IOWA VHUPRIE I OR: METROPOLITAN TRANSIT AUTHORITY SURVEYOR: AARON MUELLER SURVEY PREPARED HY: RESPOND TO: AECOM 501 SYCAMORE STREET, SUITE 222 WATERLOO. IOWA 50703 ?HONE 319-874-6587 AARON.MUELLEROAECOM.COM TEMPORARY CONSTRUCTION EASEMENT PLAT JEFFERSON STREET & COMMERCIAL STREET STREETSCAPE IMPROVEMENTS CITY OF WATERLOO, BLACK HAWK COUNTY, IOWA OWNER: METROPOLITAN TRANSIT AUTHORITY COUNTY PARCEL NO. 8913-23-452-007 PROJECT EASEMENT PARCEL NO. 01 SECTION: 23 TOWNSHIP: 89 N RANGE: 13 W END. CUT N 62107'51" E 124.28' (9 627424" W 124.22') POINT OF BEGINNING N 62'O7'51" E X" 19.23' POINT OF COMMENCEMENT WESTERLY MOST CORNER OF LOT 28, AUDITOR'S FALLS AVENUE AND MULLAN AVENUE PLAT N 62'0751" E 10.69' N 48'32'37" W N 48'59048" W N 41'27'23" E It FN[ LOT 28 AUDITOR'S FALLS AVENUE AND MULLAN AVENUE PLAT S 4E732'37" E 31.51' N 462928" E 13.96' '# • EMPORARY EASEMENT" 1,027 SQUARE FEET ✓ t O/ / 60.96' `� 69.70' 17.45' •N 48'59'48" W 523.67' ✓\�>\ N 48'59'48" W 533.75' F� (533.7') SO^^� V LEGEND: ® PARCEL OR LOT CORNER MONUMENT FOUND O SET 1/2" x 24" REBAR w/YELLOW PLASTIC ID CAP #21428 N 62'0751" E 12 .28' MEASURED DIMENSION S 6224'24" W 12 22') RECORD DIMENSION hereby certify that Ihi: tend Simyrg document was pard by me a under my (not peramd aFermian and Licensed ander tie Iowa m the S State Iowa AARON L IFR Dale License numbtr 21428 uy license renewal dote Is December 31, P yes 'hi 2020 AECOM S 48'32'37" E 26.74' S 41'55'26" W 41.34' • 523.94' • • • • • • • • • • SCALE IN FEET 0 10 20 30 40 111=20' SHEET 1 OF 2 EXHIBIT "B" CONTINUED PREPARED BY: AARON 1. MUELLER, AECOM, 501 SYCAMORE STREET, SUITE 222. WATERLOO. IOWA, 50703, 319-232-8531 DESCRIPTION: PART OF LOT 28 IN AUDITOR'S FALLS AVENUE AND MULLAN AVENUE PLAT IN THE CITY OF WATERLOO, BLACK HAM COUNTY, IOWA DESCRIBED AS FOLLOWS: COMMENCING AT THE WESTERLY MOST CORNER OF SAID LOT 28; THENCE NORTH 6210751" EAST ALONG THE NORTHWESTERLY LINE OF SAID LOT 28, 19.23 FEET TO THE POINT OF BEGINNING; THENCE NORTH 62'0751" EAST ALONG THE NORTHWESTERLY LINE OF SAID LOT 28, 10.69 FEET; THENCE SOUTH 48'32'37" EAST, 31.51 FEET; THENCE NORTH 4612928" EAST, 13.96 FEET; THENCE SOUTH 48132'37" EAST, 26.74 FEET; THENCE SOUTH 41155'26" WEST, 41.34 FEET TO THE SOUTHWESTERLY LINE OF SAID LOT 28; THENCE NORTH 411594B" WEST ALONG THE SOUTHWESTERLY LINE OF SAID LOT 28, 1.95 FEET; THENCE NORTH 41'2723" EAST, 17.45 FEET; THENCE NORTH 48132'37" WEST, 60.96 FEET TO THE POINT OF BEGINNING. THIS EASEMENT CONTAINS 1,027 SQUARE FEET. BEARINGS ARE BASED ON THE NORTHWESTERLY LINE OF SAID LOT 28 BEARING NORTH 6210751" EAST. AECOM SHEET 2 OF 2