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HomeMy WebLinkAboutOrd 4018 01/03/1989ORDINANCE NO. 4018 AN ORDINANCE AUTHORIZING THE EXECUTION OF A REAL ESTATE PURCHASE AGREEMENT PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES the 3rd day of January , 1989 Published In pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois, the 5th day of January , 1989. RDINANCE NO. 4018 AN ORDINANCE AUTHORIZING THE EXECUTION OF A REAL ESTATE PURCHASE AGREEMENT WHEREAS, the Village of Mount Prospect Board of Trustees has determined that, pursuant to its home rule and statutory powers relative to the public purpose of providing public parking or redevelopment, it is in the best interests of the Village of Mount Prospect that the Village enter into a certain Real Estate Purchase Agreement, a copy of which is attached hereto and made a part hereof as Exhibit A. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: ~: The Village President and Village Clerk are hereby authorized to execute the Real Estate Purchase Agreement which is attached hereto as Exhibit A, the Board having determined that the Agreement is, pursuant to its home rule and statutory powers relative to the public purpose of providing public parking or redevelopment, in the best interests of the Village of Mount Prospect. /. ~: The acts of the President, Trustees, Village Clerk, officers, attorneys and employees of the Village necessary to implement, carry out, or give effect to the terms of the Real Estate Purchase Agreement, which is attached hereto as Exhibit A are hereby authorized. ~: This Ordinance and each of its terms shall be the effective legislative act of a home rule municipality without regard to whether such Ordinance should (a) contain terms contrary to the provisions of current or subsequent non-preemptive state law, (b) legislate in a manner or regarding a matter not delegated to municipalities by state law. It is the intent of the corporate authorities of the Village of Mount Prospect that, to the extent the terms of this Ordinance are inconsistent with any non- preemptive state law, said terms shall supersede said state law to the extent of said inconsistency. ~: This Ordinance shall be in full force and effect from and after its passage and approval as provided by law, but shall be subsequently published in pamphlet form. AYES: Arthur, Farley, Floros, Murauskis, Van Geem NAYS: None ABSENT: Wattenberg PASSED and APPROVED this 3rd day of January, 1989. ATTEST: Village/President eal Estate Sale Contra ! ..VILLAGE OF MOUNT PROSPECT , a municipal corporation. wea to purcb~ at a puce or $ 2 2 5,0 0 0.0 0 - ' on the terms ~et forth harem, the foUow,ng described reaJ estate in Cook Counly, IllmOl$ Lots 18 and 19 in Block 2 in Busse and Wille's Resubdlvlsion in Mount Prospect in the West 1/2 of Section 12, Township 41 North, Range 11 East of the Third Principal Meridian, in Cook County, Illinois {I/legal description ts not included at time o/execution, ts authorized to msert therea/ter ] - ~ commonly known as 1 and 5 South Pine Street, Moun~ Prospect, Ill~nois. .and w~th approxseaate lot dimensions of 139 x - 15 7 , together w~th the followmg personal property presently located thereon {strike .ems not apphcableJ (al storm and screen doors and wmdows, (b) awnings, (c) outdoor television antenna, (d) walI to-wall, hallway and stair carpetmg, (el wmdow shades and draperies and supportmg fixtures, (fl venetian bhnds, (gl electric, plumbmg and other attached fixtures as metalled, (h) water softener. 0) refrigerator(s), 0) range(s), (k) ga:age dsc: :~c.':c.--w~ lra-mm?trR'r~'(l) radiator covers, (m) mat; ............. v~;'ve~. -~ _ ......... and also 2 LaSalle National Bank, Trustee under Trust ~109022 a~d not per~o,mlly (Seller) {Insert names of all owners and their respective spouses} agrees to sell the real estate and the property, if any, deathbed above at the prl~ and terms .net forth herein, and to convey or cause to be conveyed to Purchas~ or nominee title thereto (., jo.,[ ;;.,.nc} } by a secordable Trus tee ' s deed, _ ........................ ~ ........ d a prop t bdl of sale, subject only to (:): ......... . ?_*x~!'__~: :nfl r_~:t::.~:.-.: :f -'-~::--~; ~.~ g::":'% public and utility easements and roads and highways, if .... ~ ..... . .............. ~ ............ . ....... 0) gener~ taxes for the yea 1988 ........... ~f... ~la ........ r ................. ~..,. ~ ........ and~ existing leases and tenancies · appbed on the purchase puce, and agrees to pay or satisfy the balance of the purchase puce, plus or minus prorations, at the ~.jlEnffTollows {strike tubparagraph not at~Mtcablel " ,,. RIDER .%TTAC:He-D TO Al'fO F, AI)E A FAR'~ OF CONTRACT ,DATED November 23, 1988 .... This Contract is executed by LA gALLS- NATIONAL BANK, not personally but aa Trustee under Trust No. 109022 es aforesaid, in the exercise of the power and authority conferred upon ~nd vested l~ said TrusteWas such, and it is expressly understood and agreed t~ ~thiM in said Contract contained shall be toast.ed as creating any liabili~ on said ~stee personally to pay any indebt~ness acc~i~ there~der~ or to perfo~ any cove~nte~ either e~ressed or ieplied~ in said Contract (all such ltabtltty~ if a~ being expressly ~aived by said purchaser and by eve~ person ~ or hereafter clai~u~ any right or security thereunder) sod that so far as said T~etee is concerned, the o~er of any indebtedness or right acc~in8 ~der said Contract s~ll look solely to the pre~ses describ~'therein for the paint or forcement thereof~ It bern8 understo~ t~t said T~etee ~rely holds legal title the premises descrtb~ therein a~ hal au control over the ~naaemeut thereof or the income therefrom, and has no kn~ledge respecti~ rentals, l~ses or other factual ~tter with respect to said premtees~ ~cepC aa represented to tt by the bene~icia~ or ~neficiaries of Ilid trust. ~us:ee does no: warrant. in the amount set forth ~n the broker's hating contract or,as follows from the date below, othe~w~lse.~.~t~the~j~t~n Il ....... a~.t ~ltatl 6~co~v~Old and the ¢axnest money shah be refunded to the ' · ~Rlder attached hereto and Rider and This cunt,act Is subJect to the/Condmons and Stipulations set forth on the back page hereof, whlch/Condmons and Stipulations ate made a part of this VILLAGE OF MOUNT PROSPECT Purchaser 100 South Emerson ATTEST: / - Viii'age el'ark (Address) (Address) Purchaser ~ ~Z~,Ca(~, , C~.' -.-- I~IAYOE La Salle~{~tional Bank, as Trustee u~dar $clJ~T *Form normally used for salt of res~entla~proper y o~ four or fewer units CONDITIONS AND STIPULATIONS - .. S,e~lers reRre~e~t that ~ha oropert~ is, registered-in To~r_e_~_s?~nd Se~T~r~all ~ei~vmr a uergl[1cage or fl~le go ~urcnas~rs. ~ after the date hereof, showing title m the intended g~antor subJeCt only to (a) the general exceptions contamed m the policy unless the real estate ~mproved wuh a single famdy dwelhng ot an apartment building of four or fewer residential units. (b) the title excepnons set forth above, and (c) utle excepnons pertaining to lie,s of encumbrances of a defimte or ascertainable amount which may be removed by the payment of money at the nme of dos- mg and which the Seller may so remove at that t~me by using the funds to be prod upon the dehvery of the deed (all of which are hereto referred to as the ~rmltted ex~ptmns) Th~ utle commitment shall be ~ncluslve evidence of good tale as thereto shown as to all matters ~nsured by the poh~. subject m~ts to extend insurance m t~e manner s~c~fied m ~ragraph 2 below. ~ ~. ~1 ~ ~. ~ 2 ~ the tz~e ~m~tment ~scloses unfitted exc~tto~. Seaet s~ have 30 days from the ~te of men ~mTble, the aajus~m~t ~et~f *aa ~ on ~e barn of~gg~ount of the most ....................... : .................................... paid by the , . ~ electing party. as set forth below.* Settlement Procedures Act of 1974 In the evelll Ih:O o,th.r p~y ;ha!IT=ti t~ .,ak'wappr~nate dis~iosure when asked, such failure shall be considered a 8. ,Ar closing, Seller, shall deliver to Purchaser a ~ spotted survey of the premises, certified-to the-Purchaser by a certified lzcensed surveyor, 0 having all corners staked and showing all improvements existing as of contract date, and all easements and building lznes of record. *Notices:__ , TO, SELLER: ~;, , TO PURCHASER: ~ Mary Long Barry A. Springer ~ - ~mma i ' ''1000 Skokxe Blvd .... ~ 33 North Dearborn Str~e~~ ~, 'Suite 150- - - ,~ Suite 402 ,~ . ~ ~ Wllmette, IL 60091 Chicago, Illinois 60602 9. 'The parties hereto acknowledge that the Village of Mount Prospect has adopted "an ordinance relative to the Village of Mount Prospect's authorizing asqulsltlon ~= teller's property through condemnation and_that this sale o=c rr n of FOR~ ~77~ R ( .{eal Estate a,e c;ontrac , VILLAGE OF MOUNT PROSPECT t a municipal corporation. (pu,cha~,) · ~tee, to purchase ·t · price of $ 2 2 5,0 0 0 · 0 0 o. the terms ~et forth herein, the following described real estate in cook County, Ilhnms Lots 18 and 19 in Block 2 In Busse and Wllle's Resubdivlsion in Mount Prospect in the West 1/2 of Sectlon 12, Township 41 North, Range ll East of the Third Principal Meridian, ~n Cook County, Ill~nols. (I/legal description ts not included at time o/execution, ts authortzed to msert thereaftern/ _ _ .~ ,- - _ (a) The payment of $ Co) The acceptance of the title to the real estate by Purchaser subJect to a mortgage (trust d~securmg a pnnclpal indebtedness (which the Purchaser [does] [does not] agree to assume) agg~egahng $ / bearing interest at the rate of , g. a year.and the. payment of a sum which represents Ihe difference between thc amount~.~'~the indebtedness at the time of closing and thc balance of the purchase price :c~r:[:v: (~..k~:h~v:: dot: :: ~-~s sure'mutually agreed othcrw,se, at the office of Purchaser ' s Attorney ~ in the ·mount set forth ~n the broker s baling contra~.t or~s follows f/om the date below, oth.~,rwl~se, at the.~/.fl ha<.. ~.~9~.~,;; c~.,,[,,~..~ ~t,all v~come null and void and the earnest money shall be refunded to t).~ )gider attached hereto and Rider and This contract Is subJect to the/Conditions and Stipulations set forth on the back page hereof, whlch/Condthons and Shpulatlons ate made a part of this contract ~,cha~, VILLAGE OF MOUNT PROSPECT ~ Sall~ctonal Bank,as Trustee ~der SeUer TrySiL. ~09022 & ~,OL ~,~:~ii~ 100 South Emerson Vxllage Cl'erk (Address) (Address) Form norton y used lot s·l~ otres o~.t al property ol four or fewer units IDER A~ACHED TO AND HiDE A PART O~CT ~)AII:D~ .Noye~ber 23, 1988 Ktder t:o -- Thl~/Contrect ~s executed by ~A SALLt NATIONAL BANK, not personally but as Trustee under Trust I~o. 1090.22 aS aforesaid, in the exercise of the paver and authorit7 conferred upon and vested in said Ttuste~'as such. and it is expressly understood and agreed that nothiM in said Contract contained shall be construed as creating any liability on said Trustee personally to pay an), indebtedness accruin& thereunder, or to perfor~ an7 covenants, either expressed or implied, in said Contract (ell such liability, if anT, being expressly waived bF said purchaser end by oyez7 perscu ~ or hereafter clat~tn$ any right or security thereunder) and that so far aa said Trustee is concerned, the swear of any indebtedness or right accruing trader said Contract sh~11 look solely to the pre~tsas described therein for the pa~nnent or forcement thereof, it bein$ understood that said Trustee eerely holds legal title to tho preuisea described therein and has no control over the eanagemeut thereof or tho income therefrou, end has no knowledge respecting reatals, leases or other factual matter with respect to said premises, except as represented to it by tho beneficiary oF beneficiaries of said trust, Trustee does net warrant. IN WITNESS WHEREOF, the part~es hereto have hereunto set their respective hands and seals in duplicate, the day and year f~rst above written. SELLER: Village of Mount Prospect President PURCHASER: SSEEEL~ ~ ~ XTLa under Trust Agreement No. 109022 & not personally, ~z~L~a~t Vice President affect an~-~ the other portions co_tanned herein wh ort~ remain ~n full force and effect. F. Amendment This Contract may be amended only in writing by mutual agreement of Seller and Purchaser. G. B~nd~ng Contract Thls Contract shall be binding upon and shall inure to the benefit of the part~es hereto and thelr respective beneflclar~es executors, administrators, heirs, legatees and successors in interest. · ~. SUnVIVA___~L ~nants c~ shall ~~ed from Seller to Purchaser, b erformance by IN WITNESS WHEREOF, the parties hereto have hereunto set their respective hands and seals in duplicate, the day and year first above written. SELLER: Village of Mount Prospect President Village Clerk PURCHASER: under Trust Agreement No. 109022 & not persgnatly, ~s~t Vice President