HomeMy WebLinkAboutRESOLUTION - 77-95 - 12/12/1995 - AGREEMENT/REAL ESTATE SALE CONTRACT RESOLUTION NO. 77-95
A RESOLUTION AUTHORIZING THE VILLAGE PRESIDENT AND VILLAGE
CLERK TO EXECUTE AN AGREEMENT FOR A REAL ESTATE SALE CONTRACT
BETWEEN THE VILLAGE OF ELK GROVE VILLAGE AND ALLEN BUSSE
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees
of the Village of Elk Grove Village, Counties of Cook and DuPage, State of
Illinois as follows:
Section 1 : That the Village President be and is hereby authorized to
sign the attached documents marked:
REAL ESTATE SALE CONTRACT
DATED DECEMBER 12, 1995
a copy of which is attached hereto and made a part hereof as if fully set
forth and the Village Clerk is authorized to attest said documents upon the
signature of the Village President.
Section 2: That this Resolution shall be in full force and effect
from and after its passage and approval according to law.
VOTE: AYES: 6 NAYS: 0 ABSENT: 0
PASSED this 12th day of December , 1995.
APPROVED this 12th day of December , 1995.
Dennis J. Gallitano
Village President
ATTEST:
Patricia S. Smith
Village Clerk
REAL ESTATE SALE CONTRACT
THIS AGREEMENT made and entered into this 12th day of December,
1995 by and between the VILLAGE OF ELK GROVE VILLAGE, an Illinois
municipal corporation ( "Purchaser" ) and AhAN BUSSE ( "Seller" ) .
ALLEN
In consideration of the mutual and several covenants and agree-
ments hereinafter set forth, the Purchaser agrees to purchase and
the Seller agrees to sell, on the terms set forth herein, certain
real estate contiguous to the Village of Elk Grove Village located
in the County of Cook, State of Illinois , consisting of a rectan-
gular parcel., 354 . 76 ' X 184 . 20 ' , approximately 1 . 5 acres , the exact
legal description of which is set forth in a Plat of Survey attached
hereto as Exhibit "A" .
1 . DESCRIPTION OF PROPERTY. The Property is vacant property
and will consist of approximatel.y 1 . 5 acres plus or minus as de-
picted on a Plat of Survey, which Survey has been prepared by Pur-
chaser and is attached hereto as Exhibit "A" , upon its dimensions
being approved by Purchaser and Seller.
2 . SALES PRICE. The agreed upon sales price for the Property
is Five ($5. 00 ) Dollars per square foot, the exact price having
been determined on the basis of the square footage depicted on the
aforementioned Plat of Survey, to be $326 , 734 . 00 .
3 . TERMS OF PAYMENT. Purchaser shall pay the entire purchase
price , plus or minus prorations on January 5 , 1996 , or at such other
time after closing which is mutually agreeable to Seller and Pur-
chaser.
4 . SURVEY/TITLE INSURANCE. Purchaser shall cause the pre-
paration of a Plat of Survey and deliver same to Seller for Seller ' s
approval. not less than ten ( 10 ) days prior to the time of closing
which Plat of Survey shall show the exact dimensions of the Pro-
perty being conveyed and the square footage thereof . In addition,
Purchaser shall order a title commitment for an Owner' s Title In-
surance Policy in the amount of the purchase price, covering title
to the real estate on or after the date hereof, showing title in
the Seller subject only to ( a ) the general exceptions contained
in the Policy, ( b) title exceptions pertaining to liens or encum-
brances 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 shall. furnish Purchaser an Affidavit of Title in customary
form covering the date of closing and showing the title in Seller
subject only to the Permitted Exceptions above set forth. The cost
of the title insurance policy shall be the standard cost normally
incurred by a seller and purchaser of real estate, Seller herein
to pay the costs of the owner' s Title Policy including extended
coverage.
5 . CLOSING/CONVEYANCE.
A. Closing or escrow payout shall be on January 5, 1996 ,
or at such other time as mutually agreed upon in writ-
ing, provided title has been shown good and merchant-
able or has been accepted by Purchaser, by conveyance
or stamped recordable Warranty Deed (or other appro-
priate deed if title is vested in trust ) and payment
of the purchase price plus or minus appropriate pro-
rations .
B. Purchaser' s offer to purchase is contingent upon
securing unrestricted utility letters for the Pro-
perty for purposes of obtaining extended coverage.
Unless extended, Purchaser shall secure the utility
letters by December 29 , 1995.
C. The sale shall be closed at the office of Chicago
Title Insurance Company escrow closing office situ-
ated geographically nearest the Property, or as
shall be agreed mutually by the parties hereto.
6 . SOIL BORINGS/ENVIRONMENTAL STUDY CONTINGENCIES. Purchaser
shall have the right of entry of the Property to prepare a Plat of
Survey and to conduct such soil boring and environmental testing
as Purchaser deems necessary, at Purchaser' s cost, to determine,
in Purchaser ' s sole discretion, the suitability of the Property
for the construction of a fire station and for municipal purposes .
Should the results of the soil boring and environmental tests con-
clude that the property is not suitable for such construction then
and in that event the Purchaser shall have the right to deem this
Contract null and void and be under no further obligation to pur-
chase same from Seller. At closing, Seller shall. deliver to Pur-
chaser an executed and notarized Illinois Environmental Disclosure
Report for the Property dated as of closing .
All testing is to be completed and notification to proceed to
close given to Seller no later than December 29 , 1995 .
7 . PRORATIONS. Real estate taxes based upon the most recently
ascertainable real estate tax bill and other proratable items shall
be prorated to the date of the actual closing. The last full year
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tax bill shall be deemed to be the most recently ascertainable tax
bill for purposes of proration. Seller shall. pay all 1995 real es-
tate taxes for the Property.
8 . THREAT OF CONDEMNATION. The Purchaser ' s offer to purchase
the subject Property on the terms set forth herein is the result of
negotiations subsequent to the Purchaser' s threat of condemnation
as a home-rule municipality.
9 . POSSESSION. Possession of the Property shall be delivered
to Purchaser at the date of closing,
10 . REPRESENTATION OF SELLER. Seller hereby represents that
there are no persons in possession or occupancy of the Property or
who have any lease rights thereto that will extend beyond the date
of closing.
11 . TRANSFER TAXES. Unless an exemption is applicable, Seller
shall pay the amount of any stamp tax imposed by State law and Cook
County on the transfer of the title to the Property, and shall fur-
nish 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 . Any tax
required by local ordinance shall be paid by the Seller unless the
ordinance imposes the obligation for payment upon the Purchaser,
in which case the tax shall be paid by the party upon whom the or-
dinance places the obligation.
12 . BROKER. Both Seller and Purchaser represent and warrant
to the other that they have not engaged the services of a real. es-
tate broker in connection with the transaction contemplated herein,
and know of no claim of any broker for a brokerage fee arising out
of this transaction. Each party shall indemnify and save the other
party harmless from any such claim to a broker' s fee.
13 . ESCROW CLOSING. This sale shall be closed through an es-
crow with the title company providing title insurance, in accordance
with the general_ provisions of the usual form of deed and money es-
crow agreement then in use by said company, with such special pro-
visions inserted in the escrow agreement as may be required to con-
form with this Contract . The parties by , mutual agreement may waive
the necessity of an escrow closing if circumstances dictate the non-
necessity of said closing. The cost of any escrow shall. be paid by
the Seller unless the escrow closing is requested exclusively by
the Seller in which event the escrow closing shall be paid by the
Seller.
14 . POSSESSION. Seller shall surrender possession of the pro-
perty to Purchaser at the time of closing.
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IN WITNESS WHEREOF the parties set forth their hands and seals
this 12th day of December, 1995.
PURCHASER: SELLER:
VILLAGE OF ELK GROVE VILLAGE AT.A14 BUSSE
ALLEN_ /7
By: Dennis J. Gallitano / �l
Its : Village President
ATTEST:
Patricia S. Smith
Village Clerk
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12/06/06 12: 42 '—'tl708 364 2687 ELK GROVE VILLGE -,44 KNICKERBOCKER Q003/003
4505 N. ELSTON AVENUE PLAT OF SURVEY
CNICACO, ILLINOIS 60630
PHONE: AC 312/W19-5102
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FAX / JIT/296—/41GREMLEY & BIEDERMANN INC.
Thal p:al of the sonthwest Quarter ..I Seelioo 22. 'fownnhill 41 North, RI'IIRe 11, rust of Ihu Third Priucip*1 Melidim', deaeribed na
lot lows: commanaioK nt till Sowlwest sm um of Lot 58 in NiVxIns Industrial Park Unit 40, being a subdivision in the Soulhueal Quartet'
of Section 22, To,lshl,, 41 I4mrth, Itm,ec 1I, fast of till 'Ihl'd PrIne1P1'i Mel Wise; Thence North 00' 40' 36" Coat *long the Went line of
Lot 56 ibebtg the Test line or till Stwrthwest Qunrter aloacsa ldl fnr a Lst.oce of 50.52 feel to the olot of beginning; There. South 09'
58' 20" West Parallel will' the South line of said Sou U'wcsl Qunrter 354.76 feet; Thenco North
00' 40' 36" last Pnroilel with till 1'11s1 lin. of till &wthwent Qunrter nfor*s*ld for * tint nnce .
of 184.20 feel: Thence Nur l l' 119' Nl' 20" East Pe l A lel w ll' the See t1, 11 r. of sn ld sou l hwesl
Quarter 334.]6 feet to the Eaat line of an id Southwest War ter: Theca Soul 00' 40' 36" `hest �.
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LEGAL DESCRIPTION
That part of the Southwest Quarter of Section 22 , Township 41 North,
Range 11 , East of the Third Principal Meridian, described as follows :
commencing at the Southwest corner of Lot 58 in Higgins Industrial
Park Unit 40 , being a subdivision in the Southeast Quarter of Sec-
tion 22, Township 41 North, Range 11 , East of the Third Principal
Meridian; thence North 00° 40 ' 36" East along the West line of Lot
58 ( being the East line of the Southwest Quarter aforesaid) for a
distance of 58 . 52 feet to the point of beginning; Thence South 89°
58 ' 20" West parallel with the South line of said Southwest Quarter
354 . 76 feet ; Thence North 000 40 ' 36 " East parallel with the East
line of the Southwest Quarter aforesaid for a distance of 184 . 20
feet; Thence North 89° 58 ' 20" East parallel with the South line
of said Southwest Quarter 354 , 76 feet to the East line of said
Southwest Quarter; Thence South 00° 40 ' 36 " West along said East
line 184 . 20 feet to L-he point of beginning , in Cook County, Illi-
nois,
Permanent Index Number : 08-22-303-004-0000 (Underlying parcel )
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