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HomeMy WebLinkAboutOrd 3498 03/05/1985 RDINANCE N©. 3498 AN ORDINANCE TO AUTHORIZE THE SALE OF REAL PROPERTY OWNED BY THE VILLAGE OF MOUNT PROSPECT, ILLINOIS PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES THE 5th DAY OF MARCH ~ 1985 Published in pamphlet form by the authority of the corporate authorities of the Village of Mount Prospect, Illinois , the 13th day of March, 1985 2359S ORDINANCE NO. 3498 AN ORDNANCE TO AUTHORIZE THE SALE OF REAL PROPERTY OWNED BY THE VILLAGE OF MOUNT PROSPECT~ ILLINOIS WHEREAS, pursuant to a certain Plat of Subdivision known as the Hiawatha Trail Subdivision, dated August 1, 1956, and recorded August 7, 1956 as document No. 16661912 in the office of the Cook County Recorder a certain Lot, commonly known as 208 West Hiawatha Trail, was set aside and dedicated to the Village of Mount Prospect; and WHEREAS, by Resolution No. 4-66 adopted by the President and Board of Trustees of the Village of Mount Prospect and subsequently recorded on January 25, 1966, as document No. 19720841 in the office of the Cook County Recorder, said dedicated Lot was accepted by the Village; and WHEREAS, said property, as hereinafter described, has been held and used by the Village as an access area to and from Weller Creek Drainage Ditch for maintenance purposes, and it is the determination of this Village that a 20 foot easement area long said property would be sufficient for such access and maintenance purposes; and WHEREAS, the remaining part of said property is no longer necessary or useful for such municipal purposes and is therefore surplus property and subject to sale; and WHEREAS, there has been submitted to the President and Board of Trustees of this Village a certain Real Estate Sale Contract by McKone Builders, Inc. for the purchase of said property, as hereinafter described, at a purchase price of $40,000 with the right of the Village to reserve a 20 foot easement for access to and from the Weller Creek Drainage Ditch (a copy of which Contract is attached hereto and made a part of this Ordinance by reference); and WHEREAS, the President and Board of Trustees of the Village of Mount Prospect have secured an independent appraisal of the value of said property and have determined that the purchase price offered therefor at $40,000 is fair, reasonable and just; and WHEREAS, it is further determined to be in the best interest of the Village of Mount Prospect that said real estate be sold to McKone Builders, Inc. in accordance with the Contract and pursuant to the terms and conditions thereof, w~h the reservation by the Village of a 20 foot wide access easement as provided in said Contract. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: The recitals set forth above are incorporated herein as findings of fact by the President and Board of Trustees of the Village of Mount Prospect. SECTION TWO: The President and Board of Trustees of the Village of Mount Prospect do hereby approve and accept the Real Estate Sale Contract submitted by McKone Builders, Inc., for the purchase of certain Village owned real estate, described as follows: Part of Hiawatha Trail Subdivision, a part of the Southwest 1/4 of Section 12, Township 41 North, Range 11 East of the Third Principal Meridian, described by metes and bounds as follows: Commencing at the Southwest corner of he Southwest 1/4 of Section 12, Township 41 North, Range 11 East of the Third Principal Meridian; thence 196.45 feet East along said South line of said Southwest 1/4 to a point; thence North 0 degrees, 0 minutes, 40 seconds East for a distance of 698.62 feet to the point of beginning; thence 249.26 feet along a prolongation of said last described line; thence 217.29 feet in a Southeasterly direction forming an angle of 46 degrees, 41 minutes from said 249.26 foot side to the Northerly most corner of Lot 1 as designated on a Plat recorded August 7, 1956 as document 16661912 in the office of the County Recorder of Cook County; thence 140.34 feet in a Southwest direction along the longer Westerly lot line of said Lot 1 to a point; thence 96 feet along the arc of a curve convex to the Northeast whose radius is 191 feet and whose chord is 94.02 feet to the place of beginning, all of said land being more fully described on the plat of subdivision dated August 1, 1956 and recorded as document 16661912 in the office of the County Recorder in Cook County, Illinois. The Village shall reserve unto itself a 20 foot wide access easement across the eastern portion of said property for the purpose of maintaining the Weller Creek Drainage Ditch. Said property shall be acquired at a purchase price of $40,000. SECTION THREE: The Village President and Village Clerk are hereby authorized and directed to execute such Contract on behalf of the Village of Mount Prospect, and the Village Attorney is hereby authorized to undertake all necessary commitment and document preparation requirements to conclude the sale and conveyance of the subject property to McKone Builders, Inc. SECTION FOUR: This Ordinance shall be in upon its passage, approval and publication in accordance with law. full force and effect pamphlet form in PASSED AND APPROVED this 5th day of March , 1985. AYES: Arthur, Farley, Floros, NAYS: None ABSENT: None ATTEST: VILLAGE CLERK Murauskis, Van Geem, Wattenberg VILLAGE PRESIDENT -2- 0505T RIDER TO CONTRACT BETWEEN MC KONE BUILDER'S INC. AND THE VILLAGE OF MOUNT PROSPECT~ ILLINOIS LEGAL DESCRIPTION Part of Hiawatha Trail Subdivision, a part of the Southwest 1/4 of Section 12, Township 41 North, Range 11 East of the Third Principal Meridian, described by metes and bounds as follows: Commencing at the Southwest corner of the Southwest 1/4.of Section 12, Township 41 North, Range 11 East of the Third Principal Meridian; thence 196.45 feet East along said South line of said Southwest 1/4 to a point; thence North 0 degrees, 0 minutes, 40 seconds East for a distance of 698.62 feet to the point of beginning; thence 249.26 feet along a prolongation of said last described line; thence 217.29 feet in a Southeasterly direction forming an angle of 46 degrees, 41 minutes from said 249.26 foot side to the Northerly most corner of Lot 1 as designated on a Plat recorded August 7, 1956 as document 16661912 in the office of the County Recorder of Cook County; thence 140.34 feet in a Southwest direction along the longer Westerly lot line of said Lot 1 to a point; thence 96 feet along the arc of a curve convex to the Northeast whose radius is 191 feet and whose chord is 94.02 feet to the place of beginning, all of said land being more fully described on the plat of subdivision dated August 1, 1956 and recorded as document 16661912 in.the~office of the County Recorder ~n Cook County, Illinois~ '.'~ EASEMENT TERMS The Village shall reserve unto itself an access easement of twenty (20) feet in width along the easterly lot line of the above described property for purposes of cleaning and maintenance of the Weller's Creek Drainage Ditch pursuant to the following conditions: Purchaser shall construct and provide the Village with a ramp within the easement area, having a maximum slope of 12% and running from ground level at the upper portion of the lot to the Creek bed. Village access on, upon and across the easement area shall be suitable for use of trucks and other heavy equipment and said area shall be free of trees, bushes, hedges, structures or other obstructions, provided that Purchaser shall have the right to improve and use the easement area for driveway purposes. Village shall not be liable for any loss or damage occasioned to the paved or ground surface of the easement area or to any trees, shrubbery or plants contained therein as a result of Village use of the easement area; nor shall the Village be liable for any loss or damage occasioned to the easement area by erosion, accretion or flooding caused by the water flowing through the said Weller's Creek Drainage Ditch; nor shall the Village be responsible to replace, repair or restore any part of the easement area lost or damaged as the result of Village use or the action of the water flowing through said Drainage Ditch. ADDITIONAL CONDITIONS AND STIPULATIONS 12. It is hereby understood and agreed between the parties hereto that the Purchaser has obtained a buyer for the subject property, and as such, the Village deems it to be necessary that at the closing the Purchaser will submit to the Village, in writing, a statement executed by the prospective Buyer to the effect that this Buyer understands the asement rights being retained and reserved by the Village herein, understands that the village shall be using said easement area for access to Weller's Creek Drainage Ditch for the purpose of maintenance thereof, understands that the Village shall not be liable for any loss or damage to the easement area as a result of Village use thereof or erosion or water damage, and that the said Buyer acknowledges this understanding, accepts the easement terms, and agrees that his subsequent purchase of the property will be subject to the village easement.  ~ CHICAGO TiTLE i E ~OMPAN¥ · ILLINOIS · Real Estate Sale Contract I. ~Z~e ~!~s, Y~¢. (Purchaser) agrees to purchase at a price of $ 40 ? 000 · 00 on the terms set forth herein, thc following described real estate in ~)T~t l:~)(~t ~ Cook County, Illinois: See a~-eched R/dot Eor legal description of real estate and reservaticm oE authorized to insert thereafter.) commonly known as 208 ~. H~WR~%--~ ~11, ~Llnt ~'O~, T~{'[~TIOi~ , ,and with approximate lot dimensions of N/A x N/A , .*cg~-.*h-'r ~~'~b~ fe!!cu"-'r~g-~'~"u~! · _~ ?~'"~'~ _~ntl~.l~c_~o~_ *~. 2. Village Of Ivburlt Pro _~p~t (Seller) (Insert names of all owners and their respective spouses) agrees to sell the real estate and the property, if any, described above at the price and terms set forth herein, and to convey or cause to be conveyed to Purchaser or nominee title thereto ('m,'~d-t~,~) by a recordable ~ deed, ~.:~?.t.~ ur ~,d~, subject only to: (a) covenants, conditions and restr/etions of record; (b) private, public and utility easements and roads and highways, if any; (c) c. mat~l~l'} --"'%--~' .... ? ~__~ :~ec'_'_t: _? _~'e_!?u., if any;, (i) general taxes for the year .... and subsequent years ia~ _~ .....-o~.a,w-o~ ............ . ........... "-'~'--'----; '.-'--- ;'-'-'~-') --; :----" '--~ bui3.dln9 lines, dcainage rights and aso .na serv as in at ac ea 3. Purchaserhaspald$ 1,000.00 (aa. wL.~.a..wi:,.ic.__iay;:.'.Ca~i~g~n-...cf; .... -)-asearnestmoneytobe applied on the purchase price, and agrees to pay or satisfy the balance of the purchase price, plus o~miilus prorations, at the time of closing as follows: (Strike subparagraph inapplicable) (a) The payment of $ 39,000.00 less title in~e char~es and other proratable items Purchaser [does] [does not] agree to assume) aggregating $ bearing interest at the rate of ~n'~d the payment of a sum which represents the difference between t he amount due on the indebtedness at t he time of clos~ce of the purchase price. 4. This contraet is subjeet to the condition that Purchaser be able t~~a ,n t..~.,bef~e,c,u~r .ed~b~y~a mortgage or trnst deed on the real estate in the amount of $ · , or such lesser sum as Purchaser a~epts, with interest not to exceed % a year to be amortized over ~msion and service charges for such loan not to exceed %. If, after making every reasonable effort, Purchaser~ocure such commitment within the time specified herein and so notified Seller thereof within that time, this contract shall become~..~,lluU'acfr'd~void and all earnest money shall be returned to Purchaser; provided that if Seller, at his option, within a like period of time f~aser's notice, procoras for Purchaser such a commitment or notifies Purchaser that Seller will accept a purchase money mortgage 5. The time of closing shall be on ~, or 20 days after notice that financing has been procured if above paragraph 4 is operative, or on the date, if any, to which such time is extended by reason of paragraph 2 oftbe Conditions and Stipulations hereafter becoming operative (whichever date is later), uhiess subsequently mutually agreed otherwise, at the office of .q~l,l t~- ~ ~ A/-/-tT?n~:~. or of the mortgage lender, if any, provided title is shown to be good or is accep~d by Purchaser: 6.' Seller shall deliver possession to Purchaser on ~: b;.%;; ~'~ day .... the sale has been closed ........ 7. Seller aglves to pay a broker's commission to NO Cl'le. ~ Ca.amcl~B2.Cll ~S ~ orl ~'L~.S 8. The earnest money shall be held by ~ Vi I 1 ~o'_~ 06 lv~llrlt- for the mutual benefit of the parties. 9. Seller agrees to deliver possession of the real estate in the same condition as it is at thc date of this contract, ordinary wear and tear excepted. 10. A duplicate original of this contract, duly executed by the Seller..,d 1,;o o~o~ if any, shall be delivered to the Purchasers within 2 days from the date below, otherwise, at the Purchaser's option, this contract shall become null and void and the earnest money shall be refunded to the Purchaser. This contract is subject to the Conditions and Stipulations set forth on the back page hereof, which Conditions and Stipulatiohs are made a part of this Dated F~L~'enf 19, 1985 Purchaser; ~. ,~Iv~--,KOD*e BHi ~[e~s ~: ~ o Purchas~bV '- VilIage of Mount Prospect Title Seller '~ Village President Seller Attest: viiiage .Clerk (Address) *Form normally used for sale or res~dentml property of four or fewer un ts. (Address) (Address) (Add~s) 100 S. ~n S~t ~t Pratt, ~ 60056 CONDITIONS AND STIPULATIONS 1. Seller shall deliver or cause to be delivered~l~rchaser or Purchaser's agent, not less than 5 days prior to the time of closing, a title commitment for an owner's title insurance policy issued by t he 4?,,hi~a~ Title Insurance Company in the amount of the purchase price, covering title to the real estate on or ~£tcr the date hereof, showing title in the intended grantor subject only to (a) the general exceptions contained in the polley ~m~w~_ ~r-"'-E -- :._'_-_gle. fami4~-a~v~g-o~aa~,-a~u:~ b~'.';d:_-:~ :~r-.~'..?r _-?::_dent:m~ nuai~, (b) the title exceptions set forth above, and (c) title exceptions pertaining to liens or encumbrances of a definite or ascertainable amount which may be removed by the payment of money at the time of closing and which the Seller may so remove at that time by using thc funds to be paid upon the delivery of the deed (ail of which are herein referred to as the permitted exceptions). The title commitment shall be conclusive evidence of good title as therein shown as to all matters insured by thc policy~ subject only to the cxccpfions as therein stated. Seller also shall furnish Purchaser an affidavit of title in customary form covering the date of closing and showing title in Seller subject only to the permitted exceptions in foregoing items (b) and (c) and unpermitted exceptions, if any, as to which the title insurer commits to extend insurance in the manner specified in paragraph 2 below. 2. If the title commitment discloses unpermitted exceptions, Seller shall have 30 days from thc date of delivery thereof to have the exceptions removed from the commitment or to have the title insurer commit to insure against loss or damage that may be occasioned by such exceptions, and, in such event, the time of closing shall be 35 days after delivery of the commitment or the time specified in paragraph 5 on the front page hereof, whichever is later. If Seller fails to have the exceptions removed, or in the alternative, to obtain the commitment for title insurance specified above as to such exceptions within the specified time, Purchaser may terminate this contract or may elect, upon notice to Seller within 10 days after the expiration of the 30-day period, to take title as it then is with the right to deduct from the purchase price liens or encumbrances of a definite or ascertainable amount. If Purchaser does nnt so elect, this contract shall become null and void without further actions of the parties. on mo~dnsss, ff any, and other similar items shall be adjusted ratably as of the time of Closing. If the amount oftbe current general taxesis ~certai~ent thereof shall be o n the basis of the amount of the most recent ascertainable taxes. ThC amount of any general {axes ~son of ~prnv!ments shai, be adJt~t~ as fo,lows: All prorations are final unless otherwise provided herein. Existing l~nsurance policies, if any. sbail then be assi~¢d to Purc~r. Seller shail pay the amount of any stamp tax imposed by State law on the transfer ~hall furnish a completed Real ]:~state Transfer Dce~ration sig~ed by the Seller or the Seller's agent in ~be form req~l Estate ~t of the State of Illinois and shall furnish any declaration si~ed by the Seller or the Seller s agent or m~ocal or__regard to a transfer or transaction tax; such tax required by local ordinance shail be p~ mponsibih~h 4. The provisions of the Uniform Vendor and Purchaser Risk ACt of the State of Illinois shall be applicable to this contract. 5. If this contract is terminated without Purchaser's fault, the earnest money shall be returned to the Purchase/', but if the termination is caused by the Purchaser's fault, then at the option oftbe Seller and upon notice to the Purchaser, the earnest money shall be forfeited to the Seller and applied first to thc payment of Seller's expenses an~ ;.'-,;n tv, pay. ' 'a~4~w;-4he balance, if any, to be retained by the Seller as liquidated damages. escrow ~th Chi~go Title and T~st Company, in a~ord~ with the ganer~ prov~in~be~ formofD~dand . ~e~th~n in use by Chi~go Title and Trust Company, with such ~n~= contm~. Upon the cr~tio~~f ~ di~d~ ~lly b~n 7. Time is of the essence of this contract. 8. All notices herein required shali be in writing and shail bc served on the parties at the addresses following their signatures- The mailing of a notice bY registered or certified mail, return receipt requested, .shail be sufficient service. 9. Purchaser and Seller hereby agree to make all disclosures and do all things necessary to comply with the applicable provisions of the Real Estate Settlement Procedures Act of 1974. lc thc event that either party shall fait to make appropriate disclosure when asked, such failure shall be considered a breach on the part of said par~y. 10. This Contract shall be subject to approval of the President and Board of Trustees of the village of Mount Prospect by adoptic~ of an Ordinance in. accordance with the provisic~s of Section 8.514 of Chapter 8, Article V of ~ Village Code of Mount Prospect, Illinois. 11o See attached Rider for additional conditions and stipulaticms. CONDITIONS AND STIPULATIONS~ ' I Seller shall deliver or cause to be delivere~rchaser or Purchaser's agent, not less than 5 days prior to the time of closing, a title commitment for ~ owner's title insurance policy issued by the.Cs,~o Title Insurance Company n the amount of the purchase pr ce, cover ng t t e to the real estate on or ~Y,?,c the date hereof, showing title in the intended grantor subject only to (a) the general exceptions contained in the policy i~/~'c-..:_'~ -.i*_E ~_ _'-_'.-_g_:~_ fz~._'!y~.~t4~,g cr ~_n _-7"~m~t -~'-'!!-~:'--.g af..,co~,'r-~r-f.~c,/~*L~! ~'-'~, (b) the title exceptions set forth above, and (c) title exceptions pertaining to liens or encumbrances of a definite or ascertainable amount which may be removed by the payment of money at the time of closing and which the Seller may so remove at that time by using the funds to be paid upon the delivery of the deed (all of which are herein referred to as the permitted exceptions). The title commitment shall be conclusive evidence of good title as therein shown as to all matters insured by the policy, subject only to the exceptions as therein stated. Seller also shall furnish Purchaser an affidavit of title in customary form coveting the date of closing and showing tkle in Seller subject only to the permitted exceptions in foregoing items (b) and (c) and unpermitted exceptions, ff any. as to which the title insurer commits to extend insurance in the manner specified in paragraph :2 below. 2. If the title commitment discloses unpermitted exceptions, Seller shall have 30 days from the date of delivery thereof to have tl~e exceptions removed from the commitment or to have the title insurer commit to insure against loss or damage that may be occasioned by such exceptions, and, in such event, the time of closing shall be 35 days after delivery of the commitment or the time specified in paragraph 5 on the front page hereof, whichever is later. If Seller fails to have the exceptions removed, or in the alternative, to obtain the commitment for title insurance specified above as to such exceptions within the specified time, Purchaser may terminate this contract or may elect, upon notice to Seller within 10 days after the expiration of the 30-day period, to take tide as it then is with the tight to deduct from the purchase ptice liens or encumbrances of a definite or ascertainable amount. If Purchaser does not so elect, this contract shall b~ome null and void without further agtioas of the parties. ~scertalnab~ent tbereof shall be on the basis of the amount of the most recent ascertainable taxes. The amount of any general taxes w~~~provements shall be adjusted as follows: All prorations are final unless otherwise provided herein, Existing l~nsurance policies, if any, shall then be assigned to Purchaser. Seller shah pay the amount of any stamp t,ax imposed by State law on the transfer of~hall furnish a completed Real Estate Transfer Declaration signed by the Seller or the Seller s agent in ~he form reqhired pursuant to the Real Estate ~ of the State of Illinois and shall furnish any declaration signed by the Seller or the Seller s agent or m~l~l ~regard to a transfer or transaction tax; such tax required by local ordinance shall be paid b~on whom such ordinance places responsibi~ such The provisions of the Uniform Vendor and Purchaser Risk Act of the State of Illinois shall be applicable to this contract. 5. If this contract is terminated without Purchaser's fault, the earnest money shall be returned to the Purchase/', but if the termination is caused by the Purchaser's fault, then at the option of the Seller and upon notice to the Purchaser, the earnest money shall be forfeited to the Seller and applied first to the payment of Seller's expenses and :.'..ch :; ~:.y..~cn: z.f ~. z.'.:;. ':. cz .-z ..~kz'. ch; :he balance, ff any, to be retained by the Seller as liquidated damages. escrow with Chicago Title and Trust Company, in accordance with the general provisi~rm of Deed and greernent then in use by Chicago Title and Trust Company, with su~ons inserted i ment as maybe required to conform with this contract. Upon the creati~nd deYlvery of deed shall be 7. Time is of the essence of this contract. 8. All notices herein required shall be in writing and shall be served on the parties at the addresses following their signatures. The mailing of a notice by registered or certified mail, return receipt requested, shall be sufficient service. 9. Purchaser and Seller hereby agree to make all disclosures and do all things necessary to comply with the applicable provisions of the Real Estate Settlement Procedures Act of 1974. In the event that either party shall fall to make approptiate disclosure when asked, such failure shall be considered a breach on the part of said party. 10o This Contract shall be subject to approval of the Presiden~ and Board of Trustees of the Village of ~b%mt Prospect by adopticm of an Ordinance in accordance with the provisions of Section 8.514 of C~aapter 8, Article V of the Village Code'of Mount Prospect, Illinois. 11o See attached Rider for additional conditions and stipulations.