HomeMy WebLinkAboutWiltfang, Wayne N,. and Joann M.-Total Aquisition Contract-08.11.2008 TOTAL ACQUISITION CONTRACT
PARCEL NO. 994_996 W 9nd Strppt(R913.96.9nc-nn6) COUNTY Rlnrk Hawk
PROJECT Dnwntnwn Prnpprly Arq W 9nd rind 1pffprcnn ROAD NO.N/A
THIS AGREEMENT is made and entered into this 17 day of imp ,A.D,20_O8—by and between
Wnynp N rind Jnann M WiI#ancg Seller, and City of Waterloo, Iowa, Buyer.
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 Spp Attnrhpd I pgrd Dperriptinn
County (or City) of Waterloo ,State of Iowa, and more particularly described on Page 3 and
which includes the following buildings, improvements and other property: nnnp. land only
The premises also includes all estates, rights, title and interests, including all easements, and all advertising
devices and the right to erect such devices as are located thereon. SELLER ACKNOWLEDGES full settlement and
payment from the Buyer for all claims per the terms of this contract and discharges the Buyer from liability
because of this contract and the construction of this public improvement project.
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 June 17,2008
$ moving costs
$ relocation payment
$ $58.315 on possession
$ TOTAL LUMP SUM
BREAKDOWN: ac.= acres sq.ft. =square feet Land and all other
improvements including
Land by Fee Title 4200 sq.ft.$ $58,315 fence$
Underlying Fee Title ac./sq.ft. $ Building $
Notes: Property appraised at$54,000 by Bill Ramsey Inc. Appraisers, 2623 Falls Avenue, Waterloo, IA 50701, dated
February 14, 2008, and the assessed value of the property is$62,630. The property owner has agreed to meet at
the midpoint between$54,000 and$62,630 for a final offer of$58,315.
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: Rlnrk Hnwk rnunty_ lnwn 9) llnknnwn until rnmplpfinn of Ahcfrnrt
Cnntinuatinn
6. Each page and each attachment is by this reference made part hereof and the entire agreement consists of
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. 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 fire, tornado, extended coverage and added perils insurance in the minimum amount of
$ ,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
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