HomeMy WebLinkAboutOrd 3631 04/01/1986 RDINANCE NO. 3631
AN ORDINANCE AUTHORIZING THE SALE OF CERTAIN REAL
ESTATE OWNED BY THE VILLAGE COMMONLY KNOWN AS 1002
WEST LONNQUIST BOULEVARD
PASSED AND APPROVED BY
THE PRESIDENT AND BOARD OF TRUSTEES
THE ls% 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.
N
ORDINANCE NO. ~63~
ORDINANCE AUTHORIZING THE SALE OF CERTAIN
REAL ESTATE OWNED ~Y THE VILLAGE COMMONLY
KNOWN AS 1002 WEST LONNQUIST BOULEVARD
WHEREAS, the Village of Mount Prospect, Illinois owns the following
described real property:
Lot 3 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 1002 West Lonnquist Boulevard, Mount
Prospect, Illinois and is currently vacant and has sufficient area and
frontage and is zoned for develQpment for single family residence
purposes; and
WHEREAS, the President and Board of Trustees of the Village of Mount
Prospect did determine 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 adopt 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
6'f the'"~'~bject property was received from Larry Mc Kone in the amount of
$75,000, along with a duly executed Contract.
SECTION FOUR: That the President and Board of Trustees have reviewed the
contracts and bids submitted and do hereby accept the bid submitted by
Larry Mc Kone for the subject property in amount of $75,000 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
and' after it~ passage, approval and publication in pamphlet form in
accordance with law.
from
AYES: Arthur, Farley, Floros, Murauskis,
NAYS: None
ABSENT: None
PASSED and APPROVED this 1st day of
Van Geem, Wattenberg
April , 1986.
Villaqe Clerk
Carolyn ~. Krause
Village President
arry bc K~one
ate Sa e ¢ 'ntract
(Purchr
a~:es to purcha.~ at a pric~ of $ 75 r 000.00 on the terms set forth herein, Se following described rc~
Hount Prospect, Cook Count,
Lot 3 in Gregory's Res~division of Lot 33 (except the West 0.78 feet thereof), Lot 34 and Lot
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 Coo
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.
II/legal de~c~ption is not included at ~me of exe~o.,
~tho~zed to insert thereafter. }
.... 75' 1 ' -
~th approx~ate lot dimen~ons of ~ x 150. , ,~ ........................ ~ r~.';an~ ~.~c.;/
(stNke items not applicable] (a) sto~ and ~reen doors and w~dows; (b) a~~~a 1. hallway and
a~t~g; (e) window shades ~d draperies and supporting fatures' ' ' ~d ~xt~
h) ~ ~ft~er; (i) ~fr~ ' ' ~ range(s); (k) ~rage door o~ner with transmitters; (l)
2. The Village of Mount Prospect, Illinois, an Illinois Municipal Corporation (Se
(Insert names o/alt owners and their respective rpou~es)
agze~ to sell the real estate _ ' , described above at the pric~ and terms set forth herein, and to convey or cause to he convey~
Putchasex or nominee title thereto (is joist tenancy) by a recordable warranty deed,-~;~.~f ~,~,~;~..: ,~., ~ ~
· ~. subject only to: (a) covenants, conditions and restrictions of record; Co) private, public and utility easements and roads and highways, if
' -- ' ' ' ' (e) special taxes or a~ssrflents for improvements not yet completed;
uncora-~tmed special tax or assessment; (g,) installments not due at the date he~eof of any special tax or assessment for improvements hereto
completed; (h) rnortgag~ or trust deed specified below, if any; ~) general taxes for the year 1986 and subsequent years i~
0~.~.~.~1.,.~ ............ ~g-....;~.o; ..... .~ and special service area taxes fo~
water supply and improvements.
3. l%~ehaser hes paid $ 7: RQO. (~C~ (.,,,; .;;; ¥.~ .;;:,;A .l ; ' C.; *. ' -- ~ as earnest money
applied on the purchase pfic~, and a~'ees to pay or satisfy the balance of the purchase price, plus or minus prorations, at the time of closing as
{strike mbparagraph not applicable/
(a) The payment of $ 67~500.00 (sixty seven thousand five hundred and no/100 dollars)
Purchaser [does] [does not] agree to assume) aggregating $ bearing interest at the rate of'__
payment of a sum which represents the difference between the amount due on the indebtedness at the time of~.~m~d the balance o
purcha~ price.
4. This con,-act is subject to the condition that Purchaser t~e able to procure within ~--'"'~ays a firm commitment for a loan to be ~ecured
mortgage or trust deed on the real estate in the amount ~of $ ,..--'"'"~, or such lesser sum as PurChaser accepts, with interest not to ex
~ % a year robe amortized over ~~and sen, ice charges for such loan not to exceed
evaq, reasonable effort, Purch~l~....~-p/~ure such commitment within thc time specified herein and so notified Seller thereof within thal
this contract shes! moncy, sha~ be ~clutned to Purchaser; provided that if Setler, at his option, within a like peti¢
5. Thc time of closing shall be on A~ril 15t 1986 . .:;.:i~r, Sa: ~::n F:c.c
ell~'~K'i~, or on the date, if any. to which such time is extended by reason of paragraph 2 of the Conditions and Stipulations hereafter bece
opczalive (whichever date is later), unless subsequently mutually agreed otherwise, at the office of Seller ~ s ~ttorney
of the mortgage lender, if any. provided title is shown to be good or is accepted by Purchaser.
6. Seller shall deliver possession to Purchaser on ~ the da~&~f:-~ the sale has been closed.
7. seller~r--._-_:t:;:y:~::~:::'::::=.i:;:c,..<~, warrants that no broker's commission is due by virtue
~ tk~ :~'~'~-,x: forth ~.~ :,%; trckz;'; ~ ' : of this transaction.
8. The eaxnest money shat/be held by Seller' s Attorney
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 the date of this contract, ordinary we~r and tear excepted.
10. A duplicate original of this contract, duly executed by the Seller and his spouse, if any, shall be delivered lo the Purchasers within __
from the date below, otherwise, at the Purchaser's option, this contract shall become null and void and the earnest money shall be refunded
Purchaser.
This contract is subject to the Conditions and Siipulations sct forth on the back page hereof, which Conditions andStipulalions a~e made a part
Dated ~{arch 1986
Purchaser ~ ~/L/~ (Address)
Purchaser (Address)
Village ~f Mount, P~ro,spect
Seller by: ~?~ ~. ~~ (Add rc~s)
Village ~reside~t
Se~r (Address}
. V~lla~ Cl~r~
*F~frecMenti~ r0 er~ of four or fewer units.
422 Parkview Ct.
Arlington Heights, Illinois
100 South Emerson St.
Mount Prospect, Ill~nozs
100 South ~merson St.
~ount Prospect, l££1nois
I'~ S~ffer s'~hall deliver o~ ~ '~,o be delivered to Putcbaser or Parc laser s agent not le~: ~ lan 5 days
prior--line 0f ci0Sifig, ~; ~i[~/:~n~iimeht f
a. owner's title insuranc~ policy issued by the Chicago Tidc Insurance Co,npany m m amoun of hc purch~.~ price, covering I e to the rea esta e
~,r ~ter the date hereof, showing title in the intend~ ~anlor subject only to (a) the general exceptions ~nta~ed in the policy unle~ the eomraci price
$100,000.~) or lc~ and the real estate is improved wilb a slt*gle t~mily dwelling or an apartment building of four or fewer resi&nfi~ units, (b} the ~i~
exceptions set I~rth above, and (c) title exceptions permute to liens or encumbrances of a defNite et ascertai~ble amount which may be removed t
thc payment of m,mey al die lime of closing and which thc Seller may so rctnovc ut that time by using the funds to be paid u~n the delivery of the de~
(a~ of wlfich ~e he~e~ telenet to as the ~r~tted exceptions). The title com~tment shaft be conclu~ve evidm~ of good title as the=ein ~own as to
mutters ~su~ed Dy the poli~y, subject only to the exceptions as thereN stated. Se~er al~ sh~l furNsh ~rchamr an affi~vit of title ~ ~stomaty for
cover~g the date of closing and ~o~ng title in Se~er ~ubject only to the per~tted ex~ptions in foregoing items (bi ~d (c) ~d unpermitt~
ex~ptions, if any, as to which the title insurer comets to extend insuran~ ~ the ~er spec~ed:~ para.apb 2 below.
2. If thy title comnfilment discloses unpe[mittcd exceptions, Seller shall have 30 days from tile date of delivery thereof to have the exceptions rcmov
from the commitment or to have the title insurer commit to insure against loss or damage that may be occasfoned by such exceptions, and, in such ever
tile tinle of closing sllall be 35 days after delivery of the commitment or the time specified in paragraph $ on the front ~age hereof, whichever is later.
Seller falls to have the exceptions removed, or in the alternative, to obtain the commitment for title insurance specified above as to such exceptio
wHbhl thc specified lime, Purchaser may terminate this contract or may eleet, upon notice to Seller within l0 days after the expisation of the 30-d4
period, to take title as it then is with the right to deduct from the purchase price liens or encumbrances of a der'mite or ascertainable amount. If Purchas
docs nol so elect, tbis contract shall become null and void witliout further actions of tile parties.
3,. ' ..... general
~ " and other similar ileitis shall lit' adjusted ratably as of thc time of closing. If thc alllounl of the current general taxes is
lhcn ascertainable, the adjustment thereof shall be ~n the basis of the amount of the most recent ascertainable taxes.
All prorations are final unles~ otherwise provided herein.
' ' ' - ' s'fi'l'll furnish a completed Real Estate Transfer Dedaratic
signed by thc Seller or the Seller's agent in the form rcquised pursuant to the Real Estate Transfer Tax Act of the State of Illinois ~
$ ]f this contracl i~ terminated without Purcha,;cr's fault, the earnest money shall be returned to tile Purchaser, hut if thc termination is caused by ti:
the payment o1' Seller's expenscs~ Ihe balance, if any, to be ~tained by the Seller as liquidated danlages.
an cs[~ow ~llb ('lu~ago 'l'itlc and Trust Company, in accordance with thc general provisions ot me usual lorm ol ~ ~.~crow Agreem¢~
divided
7. Time is of the essence of this contract.
8. All notices hereto requh'ed shall be in writing and shall be sen, ed on the parties at the addresses following their signatures. The mailing of a not:cc b
registered or certified mail, rerun1 receipt requested, shall be sufficient service.
9. The Purchaser shall be responsible for landscaping the abuting parkway area in front
of the property, which sbatl incl~e sodding and the planting of trees as designated by t2
Mount Prc. s~ct Public Works Deparh~nt.
10. The Purchaser shall be responsible for connecting the property to Village sanitary
sewer and water facilities located in Ix)nnquist Boulevard.
FORM 377~* R 9/74