HomeMy WebLinkAbout2010-520-6 /21/2010RESOLUTION NO. 2010-520
RESOLUTION APPROVING REAL ESTATE PURCHASE
AGREEMENT WITH R AND L INVESTMENT, INC. AND
DIRECTING EXECUTION OF SAID AGREEMENT BY
MAYOR.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF WATERLOO, IOWA,
that the Real Estate Purchase Agreement dated June 21, 2010, to
purchase property generally located at 1720 Black Hawk Road, at a
cost of $250,000.00, plus up to $5,000.00 in closing costs, and
legally described as follows:
The Southeast Quarter of the Southwest Quarter of
Section 28, except the West 1,113.4 feet in even width
of that part thereof lying Southerly of Black Hawk
Road; and
The West Two-thirds of the Southwest Quarter of. the
Southeast Quarter of Section 28, except that part
thereof described as follows: Beginning at the
intersection of the East line of said tract and the
Southeasterly line of Black Hawk Road; thence South to
the Southeast corner of said tract; thence West to the
Southwest corner of said tract; thence North 300 feet;
thence East parallel with the South line of said
Section 440 feet; thence North parallel with the East
line of said Section to the Southeasterly line of Black
Hawk Road; thence Northeasterly along said road to the
point of beginning;
Except that part thereof described as follows:
Beginning at the Northwest corner of said Southeast
Quarter of the Southwest Quarter; thence South 25 feet
along the West line of said Southeast Quarter of the
Southwest Quarter; thence East parallel with the North
line of said Southeast Quarter of the Southwest Quarter
981 feet; thence Southeasterly to a point that is 1,166
feet East and 65 feet South of the point of beginning;
thence East parallel with the North line of said
Southeast Quarter of the Southwest Quarter and the
North line of said Southwest Quarter of the Southeast
Quarter to the Northwesterly line of Black Hawk Road;
thence Northeasterly along said Northwesterly line to
the North line of said Southwest Quarter of the
Southeast Quarter; thence West along the North line of
said Southwest Quarter of the Southeast Quarter and the
North line of said Southeast Quarter of the Southwest
Quarter to the point of beginning;
All in Township 89 North, Range 13 West of the Fifth
Principal Meridian, Black Hawk County, Iowa;
by and between R and L Investment, Inc. of Waterloo, Iowa and the
City of Waterloo, Iowa, be and the same is hereby approved, and
the Mayor and City Clerk authorized to execute the same in behalf
of the City of Waterloo, Iowa.
Resolution No. 2010-520
Page 2
PASSED AND ADOPTED this 21St day of June, 2010.
Ernest G. Clark,—Mayor-
ATTEST:
lark,Mayor
ATTEST:
1
zy Schres, CMC
City Cle k