HomeMy WebLinkAboutRESOLUTION NO. 2006-28 __. _...-. ...
RESOLUTION NO.
RESOLUTION AUTHORIZING THE CITY OF FAIRFAX TO PURCHASE
REAL ESTATE
WHEREAS it is the intent of the Ci of Fairfax the`City") and Dennis J. Miller and
� City ( ,
Connie J. Miller(the "Millers")to enter into a Real Estate Purchase Agreement for the City to
purchase and the Millers to sell approximately 2.57 acres of real property(the"Real Property")
situated in Fairfax, Iowa lying south of Williams Blvd. former primary road no. 149 near the
proposed Prairie View Heights Addition to Fairfax, Iowa legal described as:
Beginning at the Southeast corner of the Southwest Quarter of the Southeast
Quarter, Section 3, Township 82 North, Range 8 West of the 5th Principal
Meridian; Thence S89°24'35" along the South line of the Southwest Quarter of
said Southeast Quarter, 303.60 feet; thence N2°22'22"W, 3 18.0 5 feet to the
North line of the South 317.9 feet of the Southwest Quarter of said Southeast
Quarter; thence N89°2435"E along said North line, 148.87 feet; thence
N2019'51" W, 102.35 feet; thence S87°40'28"E, 155.40 feet to the East line of the
Southwest Quarter of said Southeast Quarter and the Northwest corner of Lot 16,
Prairie View Estates Part One to Cedar Rapids, Iowa; thence S2°l9'51"E along
said East line and the West line of said Prairie View Estates Part One, 412.50 feet
to the Point of Beginning.
WHEREAS, the City and the Millers agree that the purchase price for the Real Property
shall be in the amount of$90,000.00.
WHEREAS, the City acknowledges that a down payment in the amount of$30,000.00
has been paid and held in trust by Moyer&Bergman, P.L.C. as earnest money and the remaining
$60,000.00 shall be paid at closing pursuant to Resolution No. 2006-15 dated March 21, 2006..
BE IT RESOLVED,by the Fairfax City Council of the City of Fairfax, Iowa that the
Mayor is hereby authorized and directed to execute the Residential Purchase Agreement and that
closing on the Real Property shall be June 1, 2006 or earlier by mutual consent and the remaining
balance of$60,000.00 shall bepaid at closing.
NOW, THEREFORE, BE IT RESOLVED, by the Fairfax City Council of the City of
Fairfax, Iowa that the Mayor and City Clerk are hereby authorized and directed to execute said
Resolution.
Passed and approved this da of % ' �� ; 2'006
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NAYS:
ABSENT:
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Bill Voss, Mayor
ATTEST; ..
Connie Frame, City Clerk-
The foregoing Resolution No, "� ' having been approved this date by the
Fairfax City Council I hereby,approve the same by affixing y signature as City Clerk on this
_day of .af 006.
Connie Frazee, City Clerk
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THIS INSTRUMENT PREPARED B'Y"";.MARK J. PARMENTER
Mayer&Bergman, PLC, 2720 1stAve, NE, PO Box 1943, Cedar Rapids, IA 52406-1943, (319)366-7331
RESIDENTIAL PURCHASE AGREEMENT
TO: Dennis J. Miller and Conniie J. Miller, husband and wife, (SELLERS)
The undersigned BUYERS hereby offer to buy and the undersigned SELLERS by their
acceptance agree to sell 2.57 acres of real property situated in Fairfax, Iowa, lying south of
Williams Blvd. former primary road no. 149 near the proposed) Prairie View Heights Addition to
Fairfax, Iowa and legally described as:
Beginning at the Southeast corner of the Southwest Quarter of the Southeast Quarter,
Section 3, Township 82 (North, Range 8 West of the 5th (Principal Meridian; Thence
S89024'35" along the South line of the Southwest Quarter of said Southeast Quarter,
303.60 feet; thence N2122'22"W, 318.05 feet to the North line of the South 317.9 feet of
the Southwest Quarter of said Southeast Quarter; thence N89124'35" E along said North
line, 148.87 feet; thence N2019'51"W, 102.35 feet; thence S87140'28"E, 155.40 feet to
the East line of the Southwest Quarter of said Southeast Quarter and the Northwest
corner of Lot 16, Prairie View Estates Part One to Cedar Rapids, Iowa; thence S2119"51"
E along said East line and the West line of said Prairie View Estates Part One, 412.50
feet to the Point of Beginning
together with any easements and appurtenant servient estates, but subject to any reasonable
easements of record for public utilities or roads, any zoning restrictions, customary restrictive
covenants and mineral reservations of record, if any, herein referred to as the "Property," upon
t'he following terms and conditions provided BUYERS, on possession, are permitted to use the
Property for residential purposes:
1. PURCHASE PRICE., The Purchase Price shall be $90,000.00 and the method of
payment shall be as follows:
The parties Knowledge that $30.000.00 has been deposited with and held in trust
by Moyer & Bergman, PLC as earnest money to be delivered to SELLERS upon
performance of SELLERS' obligations and satisfaction of BUYER'S
contingencies` if any; and the balance of the Purchase Price to be paid in cash at
the time of closing with adjustment for closing costs to be added or deducted
from this amount.
2. REAL ESTATE TAXES. A. SELLERS shall pay all real estate taxes that are due and
payable as of the date of possession and constitute a lien against the property, including any
unpaid real estate taxes for any (prior years.
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B. SELLERS shall pay their prorated share, based upon the date of possession, of the
real estate taxes for the fiscal year in which possession is given (ending June 30, 2005) due and
payable in the subsequent fiscal year(commencing July 1, 2005).
BUYERS shall be given a credit for such proration at closing (unless this agreement is
for an installment contract) based upon the last known actual net real estate taxes payable
according to public record. However, if such taxes are based upon a partial assessment of the
present property improvements or a changed tax classification as of the date of possession,.
such proration shall be based on the current millage rate, the assessed value, legislative tax
rollbacks and real estate tax exemptions that will actually be applicable as shown by the
Assessor's Records on the date of possession.
C. BUYERS shall pay all subsequent real estate taxes.
3. SPECIAL ASSESSMENTS. A. SELLERS shall pay, in full all special assessments
which are a lien on the property as of the date of acceptance.
B. All charges for solid waste removal, sewage and maintenance that are attributable to
SELLERS possession, including those for which assessments arise after closing, shall be paid
by SELLERS.
C. BUYERS shall pay all other special assessments.
4. RISK OF LOSS AND (INSURANCE. SELLERS shall bear the risk of loss or damage
to the Property prior to closing or possession, whichever first occurs. SELLERS agree to
maintain existing insurance and BUYERS may purchase additional insurance. In the event of
substantial damage or destruction prior to closing this Agreement shall be null and void;
provided, however, BUYERS shall have the option to complete the closing and receive
insurance proceeds regardless of the extent of damages. The property shall be deemed
substantially damaged or destroyed if it cannot be restored to its present condition or before the
closing date.
5. POSSESSION AND, CLOSING. If BUYERS timely(perform all obligations,
possession of the Property shall be delivered to BUYERS on June 1, 2006, or earlier by mutual
agreement. Closing shall occur after approval of title and vacation of the Property by SELLERS,
but prior to possession by BUYERS. SELLERS agree to permit BUYERS to inspect the
Property within 24 hours prior to closing to assure that the premises are in the condition
required by this Agreement. If possession is given on a day other than closing, the parties shall
make a separate agreement with adjustments as of the date of possession. This transaction
shall be considered closed upon the filing of title transfer documents and receipt of all funds
then due at closing from BUYERS under the Agreement.
6. CONDITION OF PROPERTY. A. The property as of the date of this Agreement
including buildings, grounds, and all improvements will be preserved by the SELLERS in its
present condition until possession, ordinary wear and tear excepted.
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B, BUYERS acknowledge that the Property is sold "AS IIS"with no representations or
warranties.
C. BUYERS acknowledge that they have made a satisfactory inspection of the Property
and are purchasing the Property in its existing condition.
7. ABSTRACT AND TITTLE. SELLERS, at their expense, shall promptly obtain an
abstract of title to the Property continued through the date of April 1, 2006 and deliver it to
BUYER'S attorney for examination. It shall show merchantable title in SELLERS in conformity
with this Agreement, Iowa law, and Title Standards of the Iowa State Bar Association. The
SELLERS shall make every reasonable effort to promptly perfect title. If closing is delayed due
to SELLERS' inability to provide marketable title, this Agreement shall continue in force and
effect until either party rescinds the Agreement after giving ten clays written notice to the other
party. The abstract shall become the property of BUYERS when the purchase price is paint in
full. SELLERS shall pay the costs of any additional abstracting and title work due to any act or
omission of SELLERS, including transfers by the death of SELLERS or their assigns.
8. SURVEY. BUYERS may, at BUYER'S expense prior,to closing, have the property
surveyed and certified by a Registered Land Surveyor. If the suirvey shows any encroachment
on the Property or if any improvements located on the Property encroach on lands of others, the
encroachments shall be treated as a title defect. If the survey is, required under Chapter 409A,
SELLERS shall pay the cost thereof.
9. ENVIRONMENTAL MATTERS. SELLERS warrant to the best of their knowledge
,and belief that there are no abandoned wells, solid waste disposal sites, hazardous wastes or
substances or underground storage tanks located on the Property, the Property does not
contain levels of radon gas, asbestos or urea-formaldehyde foam insulation which require
remediation under current governmental standards, and Sellers have done nothing to
contaminate the Property with hazardous wastes or substances. Sellers warrant that the
Property is not subject to any local, state, or federal judicial or administrative action,
investigation or order, as the case may be, regarding wells, solid waste disposal sites,
hazardous wastes or substances, or underground storage tanks.. SELLERS shall also provide
BUYERS with a properly executed GROUNDWATER HAZARD STATEMENT showing no wells,
solid waste disposal sites, hazardous waste and underground storage tanks on the Property
unless disclosed here: None.
10. DEED. Upon payment of the purchase price, SELLERS shall convey the Property
to BUYERS by general warranty deed, free and clear of all liens, restrictions, and
encumbrances except as provided in this Agreement. General'warranties of title shall extend to
the time of delivery of the deed) excepting liens or encumbrances suffered or permitted by
BUYERS.
11. USE OR PURCHASE PRICE. At time of settlement, funds of the purchase price
may be used to pay taxes and other liens and to acquire outstanding interests, if any, of others.
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12. REMEDIES OF THE PARTIES, A. If BUYERS fail to timely perform this
.Agreement, SELLERS may forfeit it as provided in the Iowa Code (Chapter 656), and all
payments made shall be forfeited; or, at SELLERS' option, upon thirty (30) days written notice of
intention to accelerate the payment of the entire balance because of BUYERS' default (during
which thirty days the default is not corrected) SELLERS may declare the entire balance
immediately due and payable. Thereafter this agreement may be foreclosed in equity and the
Court may appoint a receiver.
B. If SELLERS fail to timely perform this Agreement, BUYERS have the right to have all
payments made returned to them.
C. BUYERS and SELLERS are also entitled to utilize any and all other remedies or
actions at law or in equity available to them and shall be entitled to obtain judgment for costs
and attorney fees as permitted by law.
13. NOTICE. Any notice under this Agreement shall be in writing and be deemed'
served when it is delivered by personal delivery or by certified mail, return receipt requested„
addressed to the parties at the address given below.
14. GENERAL PROVISIONS. In the performance of each part of this Agreement, time
shall be of the essence. Failure to promptly assert rights herein shall not, however, be a waiver
of such rights or a waiver of any existing or subsequent default. This Agreement shall apply to
,and bind the successors in interest of the parties. This Agreement shall survive the closing.
(Paragraph headings are for convenience of reference and shall not limit or affect the meaning of
this Agreement. Words and phrases herein shall be construed as in the singular or plural
number, and as masculine, feminine or neuter gender according to the context.
15. NO REAL ESTATE'AGENT OR BROKER. Neither (party has used the services of a
real estate agent or broker in connection with this transaction. SELLERS agree to indemnify
BUYERS and hold BUYERS harmless from any claim by any real estate agent or broker arising
out of or related to this transaction between SELLERS and BUYERS.
16. ACCEPTANCE. When accepted, this Agreement shall become a binding contract.
if not accepted and delivered to BUYERS on or before the 15th day of May, 2006 at 5:00 p.m.,
this Agreement shall be null and void and all payments made shall be returned immediately to
BUYERS.
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Accepted: day of , 2006.
,SELLERS: b
CDennis J. Miller Connie J. Miller
SS# 502-54-9727 SS#484-64-0088
6811 Williams Blvd, 6811 Williams Blvd,
Fairfax, Iowa Fairfax, Iowa
BUYER:
CITY OF FAIRFAX, IOWA
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By: Bill Voss, Mayor
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