HomeMy WebLinkAboutORDINANCE - 1935 - 1/12/1988 - REAL ESTATE PURCHASE AGREEMENTORDINANCE NO. 1935
AN ORDINANCE AUTHORIZING THE VILLAGE PRESIDENT AND VILLAGE CLERK
TO EXECUTE A REAL ESTATE PURCHASE AGREEMENT BETWEEN THE
VILLAGE OF ELK GROVE VILLAGE AND NANCY L. DROZEK
WHEREAS, the Village of Elk Grove Village, pursuant to
Ordinance No. 1899 duly adopted and approved by the President
and Board of Trustees on June 9, 1987 is authorized to acquire
by condemnation or negotiated sale certain properties legally
described in said Ordinance; and
WHEREAS, the Village has further determined a need to acquire
additional property abutting the properties set forth in said
Ordinance; and
WHEREAS, the Village of Elk Grove Village through its author-
ized agents has negotiated for the purchase of certain parcels
of property to the extent that the Village is prepared to enter
into a Real Estate Sale Contract with Nancy L. Drozek, a copy
of said Sale Contract being attached hereto and incorporated
herein as Exhibit 1 to this Ordinance;
NOW, THEREFORE, BE IT ORDAINED, by the President and Board
of Trustees of the Village of Elk Grove Village, Counties of
Cook and DuPage, Illinois as follows:
Section 1: That the Village President and Village Clerk
are hereby authorized to execute a Real Estate Sale Contract
between the Village of Elk Grove Village and Nancy L. Drozek
for a certain parcel of real estate, commonly known as 660 Michigan
Lane, Elk Grove Village and legally described in Paragraph 1.
of said Sale Contract, attached hereto as Exhibit 1.
Section 2: That this Ordinance shall be in full force
and effect from and after its passage and approval according
to law.
VOTES: AYES: 6 NAYS: 0 ABSENT: 0
APPROVED:
Charles J. Zettek
VILLAGE PRESIDENT
ATTEST:
Patricia S. Smith
VILLAGE CLERK
PASSED this 12th day of January 1988.
APPROVED this 12th day of _ January , 1988.
EXHIBIT 1
CHICAGO TI SURANCE COMPANY •ILLINOIS FORM A'
O Real Estate Sale Contract
THE VILLAGE OF ELK GROVE VILLAGE, an Illinois Municipal Corporation (Purchaser)
agrees to purchase at a price of E 150, 000.00 on the terms set forth herein, the following described real estate
in Cook County. Illinois: Lot 3 in Block 1 in Winston Grove
Section 22 North, being a Subdivision in parts of Sections 25 and 36, Township 41 North,
Range 10 East of the Third Principal Meridian, according to the Plat thereof recorded
in the Recorder's Ojffi1ce of Cook County Illinois, on October 12, 1976 as Document
J� T go rde236881769is ndr in7mled ur tiine Cootkf exe, Co �nt/y, I1iinoisscriptior
authorized to insert thereafter.)
commonly known as 660 Michigan Lane Elk Grove Village , and
with approximate lot dimensions of 74' x 105' , together with the following personal property presently located thereon:
(strike items nor applicable) (a) storm and screen doors and windows; (h) n nntgs; (c) outdoor television antenna; (d) wall-to-wall, hallway and stair
carpeting; (e) window shades and draperies and supporting fixtures; (0 %en.•t3aa-bll.-,os; (g) electric, plumbing and other attached fixtures as installed;
(h) water softener; (i) refrigerator(s); 6) one range(s); (k) garage door opener with two transmitters; (F}wditrter wrwrs;
and also
2, NANCY L. DROZEK (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 (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) private, public and utility easements and roads and highways, if any; (a)
. SMOIAS for -irNprovementsnatyetea npiemed,{8 niI5
gf-i Aallma l6 R(Id u 1,4ha-Date-kerurl:� l any..l)Ccial-ta).-or-auunnmeut-- for- impl`4 o tn-Aerwofew
(i) general taxes for the year 1987 and subsequent year!
3. Purchaser has pa:d E bawd will pay within 10 days theaddit«+nef sum of E 10 , 000 . 00 Jas earnest money to be
applied on the purchase price, and agrees to pay or satisfy the balance of the purchase price, plus or minus proration, at the time of closing as follows;
(Strike subparagraph inapplicable)
(a) The payment of E 140,000.00
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5. The time of closing shall be on March 5, 1988
eperwiw, 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 Purchaser's attorney ar
Of ibil RI8P18Rgm lender, In , provided title is shown to be good or is accepted by Purchaser.
6. Seller shall deliver possession to Purchaser on or before 6 days after the sale has been closed
7. Seller agrees to pay a broker's commission to no person, firm or corporation
S. The earnest money shall be held by Seller
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 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 Stipulations are made a part of this
contract.
Dated January 12, 1988
VILLAGE OF ELK GROVE VILLAGE, by
Purchaser Charles J. Zettek
> age res en
ATTEST:
Ae.,1Patricia S. Smith
,n.,s,
N111 -age uiem
Seller
(Address) 901 Wellington, Elk Grove Village IL
(Address)
(Address)
Seller (Address)
*Form normally used for sale of residential property of four or fewer units.
CONDITIONS AND STIPULATIONS
at Purchaser's expense
I. Seller shall deliver or cause t o he deliver oPmchascf orI ayenth cotlt t ha S vs riot to thetime of closing, a title commitment for
Al:Lorne s 1i�`ie btu ran �v tl''ui `�it
an owner's title insurance policy issued by t . m the amount of t to purchase price, covering title to the real estate on or
after the date hereof, showing title in the intended grantor subject mile 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 four or fewer residential units, (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 toas
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 Purchaseran 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 unpermitled 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 contractor 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. Rents, premiums under assignable insurance politics, 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 been the basis of the anount of the most recent ascertainable taxes. Thea Inau isFal .
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 arr6shell
M errneet Ah@FF04UiF@nwnIsa9 emablished lt� anyieeiii ardinanee %ith"gerdfealrensfer
1io.!he -teR-ehalfbrpeid-by-tIle (Aureheseri(Selie ). f6i Ae @ ie.)
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 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 Sellers expenses and then to payment of broker's commission; the balance, if any, to be retained by the Seller as liquidated damages.
6. Attheel ctionof Selleryr P{iret ser onnoticetot eothherp lv not less than 5 days prior to the time of closing, this sale shall be closed through an
�,tor}eys it e iruarant phund . Ill
escrow with a-,-ie,�-u�� �» pa rw, mace. nee van he general provisions of the usual form of Deed and Money Escrow Agreement then
in use by "' Tneys, _' itie �,ua2WA 59th "specii 1 provisions inserted in the escrow agreement as may be 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 t his contract and t he ea rnest money shall be deposited in the escrow. The cost of the escrow shall bei
s.fkr-e f;„„;,.,,),ky assessed the party requesting same.
7. Time is of the essence of this contract.
S. 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 beconsidereda
breach on the part of said party.
FORM 1772 R 1179