HomeMy WebLinkAboutCooper, Essie J.-Total Acquisition Contract--11.13.2007 //-r3- d7
TOTAL ACQUISITION CONTRACT Y1 '''. 02--007- 943
PARCEL Address 121R Sycmmnrp Street
PROJECT Easfcidp Rivprfront Hnucin 9 ROAD NO.N/A
Prn'Prf COUNTY Black Hnwk
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THIS AGREEMENT is made and entered into this day of ortnhpr 22, A ❑, 20 07 by and between
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 referred to as the premises, situated in parts of the following (1/4 1/4
Sec./Twp./Rge.) OR (Lot/Blk./Subdiv.): Sep niHnchpd !Pool npsrriptinnc County (or City) of waterloo, StatP of
Iowa,which includes the following buildings, improvements and other property:
The premises also include 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 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 October 22,2007
$ moving costs
$ relocation payment
$ on possession
$ 3r1,000 00 TOTAL LUMP SUM
BREAKDOWN: ac.=acres sq.ft. =square feet Land and all other
improvements including
Land by Fee Title 5 760 acres. $ fence$
Underlying Fee Title ac./sq.ft. $ Building $
4. SELLER WARRANTS that there are no tenants on the premises holding under the lease except:
NA
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 Hawk county, Iowa, 2) Unknown until completion of Ahctrnrj
Continuntiori
6. Each page and each attachment is by this reference made part hereof and the entire agreement consists of 8
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. 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 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 general liability insurance, 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
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lumr) sum payment to endorse the proceeds of any such insurance recovery to the Buyer, and SELLER ASSIGNS 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. The Seller has agreed to sell the property to the Buyer of the real estate described in Number 1 above. Buyer
acknowledges if the real estate is not voluntarily sold to Buyer through friendly negotiations, Buyer agrees to
cooperate with Seller to have this transaction qualify as an involuntary conversion pursuant to §1033 of the Internal
Revenue Code.
11. 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 East Side Riverfront Housing project
between the Iowa Department of Economic Development and the City of Waterloo.
12. 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.
13. 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.
xxiC. xx 1-11&_0 L- c5
Essie J. Coop r Social Security Number
Social Security Number
SELLER'S ACKNOWLEDGMENT:
STATE OF IOWA: SS:
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On this ►Jday of OCAS , 20 O/' , before me, the undersigned, persona ap.:a -d FssiP J Cooper known
to me to be the identical persons named in and who executed the : egoin. , me/nf• acknowledged that they
executed the same as their voluntary act and deed.
A._. .21 O9
Notary Public in an. or
the State of Iowa
APPROV. L RECOM ,4,kt*D BY:
A� •—•�.r,`ifyitt� �( b/6
City Pla, -
(Date)
11,
APPROVED BY: ��...gardatiiiiiii. _s L A-•-
� / ATTEST: Fa
(Mayor) / City Clerk/Auditor)
DATE APPROVED: 7/—/3 "v 7
BUYER'S ACKNOWL DGMEN :
STATE OF IOWA, OUNTY, SS:
On this day of` Q� "L , AD 204, before me, the undersigned, a Notary Public in and for said County,
said State, in
personally y appeared Timothy J. 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 thereto is the seal of said City; that said instrument
was signed and sealed on behalf of said City by authority it's ity Coun il; and that the said MAYOR and CITY
CLERK/AUDITOR, acknowledged the execution of said instru nt t e the v luntary act and deed of said City, by it
and by them voluntarily executed.
1°16 Nota . Public in and for said unty 2J8,a04Qg
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October 19, 2007
Mr. Don Temeyer
City of Waterloo
INRC0 G 715 Mulberry Street
Iowa Northland Waterloo, Iowa 50703
Regional Council
Of Governments Dear Don:
I am writing in reference to the City's purchase of two parcels, formerly owned by Mr.
229 E. Park Ave. Elias Grover, as part of the Cedar River Neighborhood Project. The property being
purchased by the City is a duplex with the street address of 116 & 118 E. 8th Street and a
Waterloo, IA 50703 house located at 1218 Sycamore Street. Since Federal funds are being used, at least
partially, for this acquisition the City is required to offer relocation assistance to the
Phone 319-235-0311 owners under the Uniform Relocation Assistance and Real Property Acquisition Policies
Fax 319-235-2891 Act of 1970.
As you are aware Mr. Elias Grover, the owner of the 1218 Sycamore property passed
away in March of 2007. Mr. Grover was also the owner of 116 & 118 E. 8th Street and
was selling that property on contract to Ms. Essie Cooper. Because of Mr. Grover's
death the city's purchase of both properties has been awaiting the settlement of the estate.
It is my understanding that this has now occurred and that Ms. Essie Cooper is the owner
of record on both parcels. Consequently, I have outlined below my recommendations for
the handling of the relocation
1218 Sycamore Street
Replacement Housing Allowance—Since no one is going to be occupying this property at
the time the City will close on it,replacement housing benefits are not an allowable cost.
Moving Costs—I have verified that there are six rooms that contain items that need to be
moved. Therefore, I would recommendation that the owner receive the standard fee of
$850for a self move. The City should establish a fixed date or a specific period of time
after the closing for the move to be completed. I have attached a release that the City can
use for this purpose.
116 & 118 E. 8th Street
Replacement Housing Allowance for the Tenant—For the purposes of this transaction I
have considered Ms. Dorothy Cooper as the tenant. It is my understanding however, that
she was not paying monthly rent at the E. 8th Street address and that she will not be
paying rent at the next location. Therefore she is not eligible for replacement housing
costs.
Moving Expenses for the Tenant—There are five rooms on each side of the shared E. 8th
Street duplex and I am recommending that Dorothy Cooper receive $750 dollars for
accomplishing a self move of five of the rooms and an additional $50 for the bathroom
and miscellaneous expenses for a total of$800 to be paid to her.
Replacement Housing Allowance for the Owner— Since it is my understanding that after
the closing, the owner is going to rent a home or apartment I used rental figures as the
basis to establish the replacement allowance for the owner. It is also my understanding
that the owner was not making monthly payments on the duplex and I verified with Mid-
America that the utility payment for the E. 8th Street duplex is $214 per month.
Consequently, I used the$214 as the base figure for current housing costs at the E. 8th
Street location. I compared this amount to the rental and utility costs for four properties
that are currently for rent as comparables (See Attachment# 1). This comparison
resulted in the owner being eligible for the maximum replacement allowance, of$5,250,
allowable for a rental situation (See Attachment# 2).
Moving Allowance for the Owner—As indicated earlier there are five rooms on each side
of the shared duplex that need to be moved. I would recommend that the Owner also
receive$750 for a self move of five rooms and the additional $50 for a total moving
reimbursement to her of$800.
In summary,with the understanding that the City is going to verify that Essie Cooper
owns both properties, and based on the occupants moving themselves, I would
recommend that the following amounts be paid for moving and replacement housing:
Dorothy Cooper $ 800—Moving - E. 8th Street
Essie Cooper $ 800—Moving E. 8th Street
$ 850—Moving 1218 Sycamore
$5,250—replacement housing—E. 8th Street
$6,900
I have also attached a release for each of the properties that the City can use. Please
contact me if you have any questions.
incerely, ct\LA
im o e Byer /
COG Housing Director
Cc: Chris Western
file
ATTACHMENT# 1
LIST OF COMPARABLE RENTAL PROPERTY USED FOR PURPOSES OF 116& 118
E.8th STREET-REPLACEMENT HOUSING COSTS
Home being Purchased - 116& 118 E. 8th Street,Waterloo, Iowa — 2 story duplex built 1883/
4 bedrooms/ 8 total rooms/2 Full baths/Full unfinished basement /704 Square Feet per side/
Lot 50 x 149 Feet/No garage/Rent—N/A—Monthly Average Utilities-$214
Property# 1 - 256 Anthony Street,Waterloo, Iowa— 1 story single family home built 1961 /3
bedrooms/5 total rooms/ 1 Full bath/Full basement with 430 square feet of finished area/936
Square Feet/Lot 74 x 136 Feet-No garage/Rent-$600 per month—Monthly Average Utilities
-$188
Property#2—734 W. 1st Street, Waterloo, Iowa— 1 V2 story single family home built 1888/2
bedrooms/4 total rooms/ 1 Full bath& 1 water closet/Full unfinished basement/832 Square
Feet/Lot 50 x 80 Feet/Detached single stall garage/Rent- $525 per month—Monthly Average
Utilities-$128
Property#3—320 Oaklawn Avenue,Waterloo, Iowa—2 story single family home built 1909 /3
bedrooms/6 total rooms/2 Full baths/Full unfinished basement/672 Square Feet/Lot 40 x 96
Feet/No garage/Rent-$550 per month—Monthly Average Utilities-$91
Property#4—413 Wellington Street,Waterloo,Iowa—2 story Townhouse style building-built
1893 /4 bedrooms/7 total rooms/ 1 full bath/Full unfinished basement/714 Square Feet/Lot
-unable to determine/No garage/Rent-$500 per month—Monthly Average Utilities-$191
Average Monthly Rent of 4 Comparable Properties—$544
Average Monthly Utilities of 4 Comparable Properties-$149
Average Monthly Cost of Rent&Utilities of 4 Comparable Properties-$693
ATTACHMENT # 2
Relocation Assistance Worksheet
Name: Essie Cooper Address: 116 & 118 E. 8th Street Waterloo
Base Monthly Rent
Average cost of rent and utilities at the displacement dwelling $ 214
30% of gross income N/A
Amount designated for shelter through welfare program N/A
Total $ 214
Replacement Dwelling
Monthly rent and utilities for comparable replacement dwelling $ 693
Monthly rent and utilities for occupied replacement dwelling N/A
Total
$ 693
Calcluation
Subtract the base monthly rent from the replacement dwelling $ 479
Multiply by 42 MONTHS $ 20,118
Total (cannot exceed $5,250) $ 5,250