HomeMy WebLinkAboutORDINANCE - 2040 - 5/9/1989 - REAL ESTATE SALE CONTRACTORDINANCE NO. 2040
AN ORDINANCE AUTHORIZING THE VILLAGE PRESIDENT AND VILLAGE CLE$K
TO EXECUTE A REAL ESTATE SALE CONTRACT BETWEEN THE
VILLAGE OF ELK GROVE VILLAGE AND DAVID AND CINDY HOFFMAN
WHEREAS, the Village of Elk Grove Village is a Home Rule
Municipality as es-alished and as set forth in the Constitution
of the State of I11_=ois; and
WHEREAS, in the exercise of its Home Rule authority, the
Village is authorize; to enter into a Real Estate Sale Contract
for property owned t': the Village pursuant to a negotiated con-
tract sale; and
WHEREAS, the '7iliage has successfully entered into and
completed negotiaticns for the sale of property located at 1703
West Biesterfield Rcad, pursuant to the provisions of a Real
Estate Sale Contras-, a copy of which is attached hereto and
incorporated herein;
NOW, THEREFORE, BE IT ORDAINED by the President and Board
of Trustees of the ';_llage of Elk Grove Village, Counties of
Cook and DuPage, I'l'linois as follows:
Section 1: Thal the Village President be and is hereby
authorized to sign a Real Estate Sale Contract between the Villaze
of Elk Grove Village and David and Cindy Hoffman dated May 9,
1989, a copy of wh_c- is attached hereto, and the Village Clerk
is authorized to a=_s said document upon the signature of
the Village Presider__.
Section 2: That this ordinance shall be in full force
and effect from and after its passage and approval according
to law.
VOTES: AYES: 5 NAYS: 0 ABSENT: 1
APPROVED:
Charles J. Zettek
VILLAGE PRESIDENT
ATTEST:
Patricia S. Smith
VILLAGE CLERK
PASSED this 9th day of May 1989.
APPROVED this 9th day of May 1989.
-2-
CHICAGO T, INSURANCE COMPANY , ILLINOIS FORM A'
® Real Estate Sale Contract
1. DAVID HOFFMAN AND CINDY HOFFMAN IPurchaser)
agreex to purchase at a price of S 217,000.00 on the terms set forth herein, the following described real estate
in Cook County, Illinois:
(If legal description is not included at time of execution, Seller's Attorney is
authorized to insert thereafter.)
commonly known as 170'1 W. Biesterfield. Elk Grove Village, Illiois ,and
with approximate lot dimensions of irreplar x , together with the following personal property presently located thereon:
(strike items not applicable) (a) storm and screen doors and windows; (b) ti%nwigs; (c)9eidser television antenna; (d) wall-to-wall, hallway and stair
carpeting; (e) window shades and draperies and supporting fixtures; (I) venetian blinds, (g) electric, plumbing and other attached fixtures as installed;
(h) water softener; ): (k) garage door opener with transmitters; (1) mdiat„reaNers;
and also planted vegetation and excluding curtains in fourth
bedroom
2. VILLAGE OF ELK GROVE VILLAGE (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 beconveyed to
Purchaser or nominee title thereto (in joint tenancy) by a recordable Warranty deed, with release of homestead rights, and a proper bill
of sale, subject only to: (a) covenants, conditions and restrictions of record; (b) pri%ate. public and utility easements and roads and highways. if any; (c)
(i) general taxes for the year 1988 and subsequent years i
the ye046) : aBi is
3. Purchaser has paid $ 11000-00 (and will pay within 5 days the additional sum of s 5.510-00 ) as earnest money to be
applied on the purchase price, and agrees to pay or satisfy the balance of the purchase price, plus or minus prorations, at the time of closing as follows:
(Strike subparagraph inapplicable)
(a) The payment of $
mortgage or trust deed on the real estate in the amount of $ , or such lesser sum as Purchaser acre t est not to exceed
% a year to be amortized over years, the commission and service charges f not to exceed %. If, after making
every reasonable effort, Purchaser is unable to procure such commitm a time specified herein and so notified Seller thereof within that time,
this contract shall become null and void an oney shall be returned to Purchaser; provided that if Setter, at his option, within like period of
time following Pu ice, procures for Purchaser such a commitment or notifies Purchaser that Seller will accept a purchase money mortgage
5. The time of closing shall be on July 5, 1989 , 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 of the Conditions and Stipulations hereafter becoming operative
(whichever date is later), unless subsequently mutually agreed otherwise, at the office of Seller's Attorney or
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 or before 2 days after the sale has been closed. Sets::. -fees to P115 PUFeh&S@F - sum -P
7. Seller agrees to pay a broker's commission to no person, firm or corporation
8. The earnest money shall be held by
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 wear and tear excepted.
10. A duplicate original of this contract, duly executed by the Seller and his spouse, if any, shall be delivered to the Purchasers within 5 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 Stipulations are made a part of this
contract.
Dated - Ma 9 1989
�r
Purchaser (Address)
Purchase= -t-% <" �/' (Address)
Seller C (Address)
Seller (Address)
-Form normally used for sale of residential property of four or fewer units.
t.:ONDITIONS AND STIPULATIONa
I. Se Ile rshaII deliver or cause to bed eIivee to Purchas o L' r�hm•'<a enc, totIV, th: 5 vs prior to thet i me of closing, at itle commitment for
� to �i$1e �ua�rant� unt,, `�'nc
an owner's title insurance policy issued byt e` nn c.tmount oft epurchase price, coveringtitle to therealestate on or
after the date hereof, showing title in the intended grantor subject only to (a) the general exceptions contained in the policy unless the real estate is
improved with a single family dwelling or an apartment building of from or fewer residential units, (b) the title exceptions set forth above. and (c) title
exceptions pertaining to hens 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 toas
the permitted exceptions). I he 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 covering the date of closingand 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 the 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 not so
elect, this contract shall become null and void without further actions of the parties.
3. , water and other utility charges, fuels, prepaid service contracts, general taxes, accrued interest
on mortgage indebtedness, if any, and other similar items shall be adjusted ratably as of the time of closing. If the amount of the current general taxes is
not then ascertainable, the adjustment thereof shall be on the basis of the amount of the most recent ascertainable taxes. The amount oifanygijneFa4�
plus 100
All proration are final unless otherwise provided herein. Existing leases and assignable insurance policies, if any, shall then be assigned to Purchaser.
Seller shall pay the amount of any stamp tax imposed by State law on the transfer of the title, and shall furnish a completed Real Estate Transfer
Declaration signed by the Seller or the Seller's agent in the form required pursuant to the Real Estate Transfer Tax Act of the State of Illinois and shall
furnish any declaration signed by the Seller or the Seller's agent or meet other requirements as established by any local ordinance with regard to a transfer
or transaction tax; such tax required by local ordinance shall be paid by the party upon whom such ordinance places responsibility therefor. If such
ordinance does not so place responsibility, the tax shall be paid by the (Pat chaser (Seller). (Strike one.)
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 Purchaser, but if the termination is caused by the
Purchaser's fault, then upon notice to the Purchaser, the earnest money shall be forfeited to the Seller and applied first to
the pavment of Seller's expenses and ; the balance, if any, to be retained by the Seller as liquidated damages.
6. Attheel i not Seller qrP [ ser onnotic tot of rp ty not less than 5 days prior to the time of closing, this sale shall be closed through an
�iOr e s i e uaran y Viun�, enc.
escrow witf, qc a ce Wry he general provisions of the usual form of Deed and Money Escrow Agreement then
in use by a-apd-��cneFGewxpaxy, wnh such special provisions inserted in the escrow agreement as maybe required to conform with this
contract. Upon the creation of such an escrow, anything herein to the contrary notwithstanding, payment of purchase price and delivery of deed shall be
made through the escrow and this contract and the earnest money shall be deposited in the escrow. The cost of the escrow shall be diuidaAequai{y-ka4wun
assessed to the requesting party.
7. Time is of the essence of this contract.
g. 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 fail to make appropriate disclosure when asked, such failure shall beconsidered a
breach on the part of said party.
10. This Contract is subject to the condition that Purchasers sell their existing home
located at 9045 Joey Drive, Niles, Illinois and close said sale prior to the Closing date
hereof. If Purchasers are unable to sell their existing home by July 5, 1989, then this
Contract shall be deemed null and void except if Seller and Purchasers mutually agree to
extend the Closing date or otherwise modify the provisions of this paragraph. If Purchasers
provide Seller with a copy of an executed Contract for the sale of their residence prior
to July 5, 1989, then the Closing date herein shall be extended to the Closing date of said
executed Contract.
FORM 3772 R. 3 79