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HomeMy WebLinkAboutOrd 3633 04/01/1986 RDINANCE NO. 3633 AN ORDINANCE AUTHORIZING THE SALE OF CERTAIN REAL ESTATE OWNED BY THE VILLAGE C©~ONLY KNO~ AS 1006 WEST LONNQUIST BOULEVARD PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES THE 1st DAY OF April , 1986. Published in pamphlet form by authority of the corporate authorities of the Village of Mount Prospect, Illinois, the 2nd day of April ,1986. RDINANCE NO. 3633 AN ORDINANCE AUTHORIZING THE SALE OF CERTAIN REAL ESTATE OWNED BY THE VILLAGE COMMONLY KNOWN AS 1006 WEST LO.N~Q..U.IST BOULEVARD WHEREAS, the Village of Mount Prospect, Illinois owns the following described real property: Lot 1 in Gregory's Resubdivision of Lot 33 (except the West 0.78 feet thereof), Lot 34 and Lot 35 in Northwest Hills Country Club Subdivision, being a Subdivision of part of the Southwest Quarter of Section 11, Township 41 North, Range 11 East of the Third Principal Meridian in Cook County, Illinois. Also, the West Half of South We Go Trail East of and adjoining Lot 35 aforesaid lying South of the North line of Lot 35 extended East. which property is commonly known as 1006 West Lonnquist Boulevard, Mount Prospect, Illinois and is currently vacant and has sufficient area and frontage and is zoned for development for single family residence purposes; and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect did determined that the subject property is no longer necessary, appropriate or in the best interest of the Village that it retain title to the said real estate and that said real estate is not required for the use of or profitable to the Village of Mount Prospect; and WHEREAS, it has been determined by the President and Board of Trustees of the Village of Mount Prospect that the best interest of the Village and its residents would be served by offering the subject real estate for sale by bid, pursuant to the procedures established in Ordinance No. 3606, passed and approved February 4, 1986. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: The President and Board of Trustees of the Village of Mount Prospect do hereby as facts the recitals hereinabove set forth. SECTION TWO: The Village did, pursuant to Ordinance No. 3606, advertise the subject property for sale to the highest qualified bidder, which sealed bids were opened on March 10, 1986. SECTION THREE: That the highest qualified bid submitted for the purchase 'of the subject property was received from Terrance E. and Patricia L. Frediani in the amount of $80,100, along with a duly executed Contract. SECTION FOUR: That the President and Board of Trustees have reviewed ~he contracts and bids submitted and do hereby accept the bid submitted by Terrance E. and Patricia L. Frediani for the subject property in amount of $80,100 and do hereby authorize and direct the Village President and Village Clerk to execute the Contract to Purchase on behalf of the Village and to execute and attest to such other documents as may be necessary for the conveyance of the subject real estate being the subject of this Ordinance. SECTION FIVE: That this Ordinance shall be in full force and effect fr'om and after its passage, approval and publication in pamphlet form in accordance with law. AYES: Arthur, Farley, Floros, Murauskis, Van Geem, Wattenberg NAYS: None ABSENT: None PASSED and APPROVED this 1st day of April , 1986. ATT T: · Carol A. Fields Village Clerk Village President Resi Estate L Terence~E. Frediani & Patricia L. Frediani (Purch a~3~es to putchese at e price of $ 80, 100.00 on the te~ms set forth he~e~n, the following douched real in Mount Prospect Cook County. Illinois: Lot 1 in Gregory's Resubdivision of Lot 33 (except the West 0.78 feet thereof), Lot 34 and in Northwest Hills Country Club Subdivision, being a Subdivision of part of the Southwest Quar of Section 11, Township 4] North, Range 11 East of the Third Principal Meridian in Cook County Illinois. Also, the West half of South We-Go Trail East of and adjoining Lot 35 aforesaid lying South of the North line of Lot 35 extended East. (I/legal description is not included at time o/execution. authorized to insert thereafter.] commonly known as 1006 West Lonnquist Boulevard, Mount Prospect, Illinois w~th aDproxunate lot dzmenmons of .39 x 1 ~Q , t,~/,~er-with' ........... n'~, ...... l~,,.~,~_~ {strike items not applicable/(a) storm and screen doors and w/ndows; (b) awnings; (c) o,.u, tdoo__.~rjg~e~ail-to.wall, hallway and carpet/nd; (e) window shades and draperies and supportin · tn s; (g) electric, plumbing and other attached fixtures as insta (h) water softener; (i~ , ~s); (k) ~arage door opener with transmitters;O) rad 2. The Village of Mount Prospect, Illinois, an Illinois Municipal Corporation (Insert name~ o£all ow.ers and their respective spouses) agrees to sell the real estat~ described above at tho price and terms ~t forth herein, and to convey or cause to be convey~ Pu~chass~ or nominee t/fie thereto (h jo/ne tenancy) by a secordable warrantV deed, ' ~ subject only to: (~) covenant, conditions and restrictions of record; Co) private, public and utility easements and roads and highways, if r--~ ' ' *.:, ~ :.--y; (d,~ e ' ' ' ' (e) spec/al taxes or assessraents for improvements not yet completed; unconfarmed special tax or assessment; (~) installments noi due at the date hereof of any spechi tax or assessment for improvements heret~ completed; (h) mortgage or trust deed spec/fled below, il' any; ~) 8ChOral taxes fo! the yeal 1986 and subseque~lt years ' ' ' .... t.'.;}a..ls) ;a..i~ and special service area taxes for water supply and improvements. 3. Purchaser h~ paid $ 8. OlO. O0 ~a.u ....... ,.!1; Fa~., ......~.~.' .,,. .~Lt.~,..l'" .-,., ~f $ ) as e~nest money applied on the purchase price, and agrees to pay or ~tisfy the balance of the purchase price, plus or minus prorations, at the time of closing as roll (strike mbp~ag~aph not applicable/ (a) Thepaymentof$ 72r090.00 (seventy two thousand and ninetv dollarD) ~;~ '"'-~ ;;~zp:a;.;; cf :ha ia:lc :; :..; .... ~cha~ {d~s] ~d~s not~ agree to assume) a~regating $ bearing interes~ at the rate of ~ payment of a sum which rep~nts the difference between thc amount due on tbe indebtedness al the time of~e balance o: put~a~ price. 4. ~la con.ct is sub, ct to the condition that Purcha~r be able to procu~ within ~s a firm c~mitme~ for a loan to be ~cured m~t~e or trust deed on the ~al estate in the amount ~f $~.eh. or such loser sum as Putkhaser accepts, with interest not to ex a ye~ to ~ ~ottized over ~ yes--ion and ~ice chides for such loan not to exceed ~%. if. after ma ~e~ reasonable effort, Purcha~r issue such commitment within the time specified herein and so notified Seller thereof within that th~ contract sh~~y,~h~~ ~ r~t. urned to Purchaser; provided that if Setler. at his option within a like perh t~-~mmit, men,~.__ ----.. or notifies Purcha~t that Seller will acccp, a purchase money mot, 5. Thc time of closing shah be on Anril 15, ~ 986, ,., :0 ~o:,' ..,.," ,,.~;k; :ks; ~.,;~;L~,~= ~-::-; ........ ~ :c .~-... ~b ~ ot on the date. if any. [o which such time is extended by reason of paragraph 2 of the'Conditions and Stipulations hereafter bcco; o~ralive (whichever date is taler), unless sub~qucnlly mutually agreed otherwise, at thc office of Seller' s Attornev of the mortg~c lender, if ~y, provided title is shown to be good or is accepted by Purchaser. 6. ScUet shall deliver possess/on to Purchaser on .ee--be/~aae the day~.lk~ the sale has been closed. Er!!:: :;:::: ,t~ ~,-..~.~-,~, 7. Seller~':tt7:7-%--~-?':rc-~mL*_-i:n:: warrants that no broker's commission is due bv virtue L. · ............ E~:i..~ ...................... ............... ,~ ................... - ............. of this transaction. 8. The eaxnest money shall be held by Seller ' s A~QrDev fo~ thc mutual benefit of the parties. 9. Seller agrees to deliver possess/on of thc real estate in the same condition as it is at thc date of this contract, ordinary wear and teat excepted. 10. A duplicate original of this contract, duly exccutcd by the Sc;leT and his spouse, if any. shall be delivered to the Purchasers ~ithin __ from the date below, otherwise, at the Purchaser's option, this contract shall become null and void and the esl'nest money shall be refunded t¢ Purcha~r. This contract is subject to the Conditions and Stipulations set forth on the back page hereof, which Conditions andSt:pulations~emadeapart Dated Mar~ch 1986 ~-- ~, (Address) V~llage~ o~ Mount Prospect vz~lag~ ~reszaent ~=.~!~_99rm~y use~ fofsa~ of ~iiden~ P~gPeHY of fou~ o~ fewe~ units. (Address) 1011 Ash Drive Mount Prospect, Illinois 1011 Ash Drive Mount Prospect, I±llnOlS 100 South Emerson Street Mount ProspecD, ±llinois 100 South Emerson Street Mount ProspecE, llll~OiS CONDIT~O~ AND ST~ --Otis ~1 Sdlle~shaIl deriver o(ca~.~ to oe delivered ro Purchaser or Purchaser's a= mt. not less than $ days prior . m of closing, a title commitment ~)r after the date heleof, snowing title m ti~e intended grantor subject only to ia) the general exceptions contained in the policy unless the contract prxce $11)0,O00.O0 or lesS and tile teal estate is improved with a single Ihmdy dwelling or an apartment building of four or fewer refidential units, ('o) thc ~ exceptions set forth above, and (c) title exceptions pertaining to liens or encumbrances of a definite or ascertainable amount which may be removed the payment of money at tile time of clo4ng and which the Seller may so remove at that time by using the funds to be paid upon the delivery of the der tall of wlfich are herein refer~ed to as the permitted exceptions). The title commitment shall be conclusive evidence of good title as therein shown as to matters insured by the policy, subject only to the exceptions as therein stated. Seller also shall furnish Purchaser an affidavit of title in customary for covering the date of closing and showing title in Seller subject only to the permitted exceptions in foregoing items (b) :md (c) and unpermitt~ exceptions, ff any, as to which the title insurer commits to extend insurance in the manner specified in paragraph 2 below. 2. If Ib~: title com~nitment discloses unpcmfitted cxccplions, Seller shall have 30 days from the date of delivery thereof to have the exceptions remow frmn the commitment ot to have the title insurer commit to in~ure against loss or damage that may be occa:6oncd by such exceptions, and, in such ever' thc nme of closing shall be 35 days after delivery of thc commitment or the time specified in paragraph 5 on thc front ~age hereof, whichever is later geller fails 1o have the exceptions removed, or in the alternative, to obtain the commitment for title insurance specified above as to such exceptio~ wilhin tb¢ spccil'icd time, Purcba~r may terminate this contract or may elect, upon notice lo Seller within 10 days after thc expiration of thc 30-d: period, to take title as it then is with the right to deduct from the purcbase price liens or encumbrances ora definite or ascertainable amount. If Pu.rchas does ~t ~o elect, tbis toni[act shall become null and void without further actions of the pax-tics. All prorations are final unless otherwise provided l:erein. ]~ ~ll~~ ~,~~~~ , · ' ' s'2~lI furnish a completed Real Estate Transfer Declatati( $ If thi~ ,m*lracl is terminatcil withoul Purehaser'~ fault, the earnest n]oney shall be returned Io thc Purchaser, hut if Ibc termination is caused by th the payment of Seller's cxpcnm2s - · ' thc balance, if any, to be ~tained by thc Seller as liquidated damages. 7. Time is of the essence of this contract. reg/stered or certified mail, return receipt requested, shall be sufficient service. 9. The Purchaser shall be responsible for landscaping the abuting parkway area in front of the property, which shall include sodding and the planting of trees as designated by tl Mount Prcspect Public Works Depa~ ~nt. 10. The Purchaser shall be responsible for connecting the property to Village sanitary sewer and water facilities located in Lonnquist Boulevard.