HomeMy WebLinkAboutHawkeye Community Foundation - Acquisition Contract - 1.3.2023ACQUISITION CONTRACT
Project Parcel No. 2
PROJECT Hammond Avenue Sink Creek Bridge Construction
THIS ACQUISITION CONTRACT (the "Contract") is made and entered Into as of
halts Ioaa. , 2022 by and between Hawkeve Community Foundation. Inc.
("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 plats and legal descriptions
attached as Exhibit "A", 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 Sellers intention to do
so by calling Buyer at (319) 291-4366.
3, The Purchase Price shall be $ 4 j009.71 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If this Contract is not accepted by Seller or if it is rescinded by Buyer for failure of title or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 earnest 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.
4. Possession of the Property shall be delivered to Buyer at closing, which shall occur on
or before ee reci er3 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:
(a) 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.
Seiler 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 one week atter the date of approval of the City Council, 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 info this Acquisition Contract as of the date first set
forth above.
- I.XCCove, Ds. lick, - —(e t 3 76,
NAME**, **TITLE**jHawkeye Community Pounda ''on, Inc. SSN or EIN
[Additional Seller name or Attest[
SSN or EIN
SELLER'S ACKNOWLEDGMENT:
STATE OFl
OALIGi-Vw1e-- County: ss: j� L
Acknowledged before me on �. (� ��):�� , by F'� Y1 v li' U2-14c01-C-1 and
, [as EXitiktiVQ 134,a k✓of Seller].
APPROV
00AL a,
IOWA
RECO
ANNETTE STAPLES
COMMISSION NO. 820616
MY OMMISSIION FIFES
OCT
D BY:
City Planning Staff
Notary Public
(Date)
23J9Ar2
At80Sn v111401eiiiii •',(
23tii' X.1 I DIE.21R4MCO 'fp,
esx t t R3f3U'T Ki
APPROVED BY: ATTEST:
(Mayor}
DATE APPROVED: Cur` kr% 3 at2 3
BUYER'S ACKNOWLEDGMENT:
STATE OF IOWA, BLACK HAWKCOUNTY, ss:
Acknowledged before me on �0-nv a.r r za Z3 by Quentin Hart and Kelley Felchle
as Mayor and City Clerk, respectively, of the CI of Waterloo, Iowa.
NANCY HIGBY
COMMISSION NO.788229
MY CAI/MISSION WIRES
-c,.\iva\ c;f- tlA»
INDEX LEGEND
General Description: Part of the NW 1/4 of Sec. 23-188N—R13W. Waterloo
Surveyor. David L Schell (#15775)
Surveying Company. Wayne Clcassen Engineering & Surveying. Inc.
2705 University Avenue (P.O. Box 898)
Waterloo, Iowa 50704
(319)235-6294
Survey Requested By. City of Waterloo
Proprietor. Hawkeye Community College Foundation, Inc.
For County Recorder's use.
ACQUISITION PLAT
Hammond Avenue Right —of —Way Acquisition SHEET 1 OF 2
LEGAL DESCRIPTION
Hammond Avenue Right —of —Way Acquisition
That part of the Northwest Quarter (NW 1/4) of Section Twenty—three (23), Township Eghty—eight North (TEEN), Range
Thirteen West (R13W), of the Fifth Principal Meridian, Waterloo, Black Hawk County, Iowa, described as follows:
Commencing at the Northwest comer of aforesaid Northwest Quarter (NW 1/4); thence 50709'37*E Six Hundred Sixty—one
cnd one Hundredth (661.01) feet along the West line of said Northwest Quarter (NW 1/4) to the Westerly extension of the
South line of Parcel 'M', Document No. 2005-18840 in the Black Hawk County Recorders Office, and to the point of
beginning; thence continue S00'09'37'E Six Hundred Sixty—one and and One Hundredth (661.01) feet still along said West
line to the Southwest corner of the South Half (S 1/2) of aforesaid Northwest Quarter (NW 1/4); thence 500'09'12'E
Twenty—one and Fifty—seven Hundredths (21.57) feet along said West line; thence N89'50'43"E Thirty—three (33.00) feet to
the East right—of—way Line of Hammond Avenue; thence continue N89'50'43"E Ten (10.00) feet; thence N1852'14'E Three
Hundred Fifty—six (355.00) feet; thence N06'05'00iY Two Hundred (200.00) feet; thence N15'30'19'0( One Hundred
Forty—nine and Twenty—two Hundredths (149.22) feet to aforesaid South line of said Parcel 'M"; thence 589'25'37'W
Eighty—seven and Eight Hundredths (87.08) feet along said South line, and along the Westerly extension thereof, to the
point of beginning containing 1.72 acres.
LEGAL DESCRIPTION
Temporary Construction Easement
An Easement for temporary constriction purposes over, under and across that part of the Northwest Quarter (NW 1/4) of
Section Twenty—three (23), Township Eighty—eight North (T88N), Range Thirteen West (R13W), of the Fifth Principal Meridian,
Waterloo, Black Hawk County. Iowa, described as follows:
Commencing at the Northwest comer of aforesaid Northwest Quarter (NW 1/4); thence 500'09'37'E Six Hundred Sixty—one
and one Hundredth (661.01) feet along the West line of said Northwest Quarter (NW 1/4) to the Westerly extension of the
South line of Parcel M. Document No. 2005-18840 in the Black Hawk County Recorders Office; thence continue
S00'09'37'E Six Hundred Sixty—one and and One Hundredth (661.01) feet still along said West line to the Southwest comer
of the South Half (S 1/2) of aforesaid Northwest Quarter (NW 1/4); thence S00'09'12"E Twenty—one and Fifty—seven
Hundredths (21.57) feet along said West line; thence N89'50'43"E Thirty—three (33.00) feet to the East right—of—way Line
of Hammond Avenue and to the point of beginning; thence continue N89'50'43"E Ten (10.00) feet; thence N16'52'14'E
Three Hundred Fifty—six (356.00) feet thence N06'06'00'W Two Hundred (200.00) feet; thence N15'30'19"W One Hundred
Forty—nine and Twenty—two Hundredths (149.22) feet to aforesaid South line of said Parcel "M'; thence N89'25'37'E
Forty—seven and Forty—two Hundredths (47.42) feet along said South line; thence S20'09'24"E One Hundred Forty—three and
Thirty—two Hundredths (143.32) feet; thence 506'06'00"E Four Hundred Eighty—eight and Five Hundredths (488.05) feet;
thence 56741'30'W One Hundred Ninety—four and Eighty—two Hundredths (194.82) feet; thence S89'50'43"W Twenty and
Fifty—seven Hundredths (20.57) feet to the East right—of—way line of Hammond Avenue; thence NOO'09'12"W Ten and One
Hundredth (10.01) feet along said East right—of—way to the point of beginning containing 1.33 acres.
NOTES:
1. The basis of bearings for this Plat of Survey is the West
line of the NW 1/4 assigned a bearing of S00'09'37'E as
per Iowa State Plane Coordinate System, North Zone, 2011
ad j.stment.
C
E
SFELD
B00K
746-01
CERTIFICATION
I hereby certify that this land surveying document was prepared and the related
survey work was performed by me or under my direct personal supervision and
that I am a dub Licensed Land Surveyor under the laws of the State of Iowa.
Signature'
David L Schell, P.LS.
Oats. 20 License No 16775
Pages or Sheets Covered by this Seal. 2
My license renewal date is December 31. 2022
ye
ON 31Id S30
WAYNE CLAASSEN ENGINEERING AND SURVEYING, INC.
P.O. BOX 898 WATERLOO, IOWA 50704-0898
PHONE: (VOICE) 319-235-6294
(FAX) 319-235-0028
100
1 INCH = 100 FEET
POINT OF COMMENCEMENT,
NW CORNER,
SEC. 23-T88N-R13W
(FOUND 1/2 REBAR)
Doc. No. 2017-15850
C
E
SFIELD BOOK 746-01
ACQUISITION PLAT
Port of the NW 1/4 of Sec. 23-TB8N-R13W,
Waterloo, Black Hawk County, Iowa
Survey for: City of Waterloo
Proprietor. Hawkeye Community College Foundation, Inc.
POINT OF
BEGINNING
ACOUISmON
Hammond Avenue
(FOUND PIN & ORANGE `\
CAP #23212)'---__
W 1/4 CORNER.
SEC. 23-T88N-R13W
(FOUND MAC NAIL
& WASHER)
Doc. No. 2017-17826
N00'22'03 E-600.98
Parcel "M'
Doc. No. 2005-18840
JS89.57.17^W
I(87.08')
(589'25'37 W
SOUTH UNE,
PARCEL "M
137.33'
33'
(900'09'37 E-881.01')
L2
5
-.\ N- (47.42')
1 \"a (1489'25'37'E)
(31 \cts
m \
\ 's
m
\N
\J
Area
(Net 1.20 Acres)
(ROW 0.52 Acres)
(Total 1.72 Acres)
SHEET 2 OF 2
SURVEY LEGEND:
000.00 DENOTES RECORD DIMENSION
(000.00) DENOTES FIELD DIMENSION
Parcel 'L"
Doc. No. 2005-18840
N89'57'17'E-1153.41'
LINE TABLE
UNE
DISTANCE
BEARING
1
(21.571
(500109'12-E)
2
(33.00')
(N89'50'43"E)
33'
3
(10.00')
(N89'50'43'E)
4
(10.01')'N00'09'121W)
5 1/2, NW 1/4
A{'A� SOUTH UNE, 5 1/2. NW 1/4
(56?i
i
POINT OF BEGINNING,
\ I TEMP. CONSTRUCTION EASE.
00.57')
(589'50'43-W)
N89'54"35'E-132354"
ON 311A SA3