HomeMy WebLinkAboutRESOLUTION - 61-77 - 8/23/1977 - SALES CONTRACT/SURPLUS LAND RESOLUTION NO. 61-77
A RESOLUTION AUTHORIZING THE VILLAGE
PRESIDENT AND VILLAGE CLERK TO SIGN
A CONTRACT FOR THE SALE OF REAL ESTATE
WHEREAS, the Village of Elk Grove Village is the legal
owner of certain property located in Centex Industrial Park Unit 212,
Cook County, Illinois; and
WHEREAS , it has been determined that the Village has no
future need for said property; and
WHEREAS, a notice of sale of said property and an invitation
to bid thereon was published in a newspaper of general circulation in
the Village and as a result thereof, the Village did receive a bid from
one George Vassos; and
WHEREAS, the President and Board of Trustees have by motion
duly accepted the bid as amended:
NOW, THEREFORE, BE IT RESOLVED by the President and Board
of Trustees of the Village of Elk Grove Village, Cook and Du Page
Counties , Illinois, as follows :
Section 1: That the Village President and Village Clerk are
hereby authorized to execute a contract for the sale of real estate
with George Vassos for a purchase price of $14 ,300. 00 , a copy of said
contract being attached hereto and incorporated herein.
Section 2 : That this Resolution shall be in full force and
effect from and after its passage and approval according to law.
VOTES : AYES: 6
NAYS: 0
ABSENT: 0
APPROVED:
ATTEST:
4W,.oVIL G P S I T
VILLAGE CLERK
PASSED this 23rd day of August , 1977.
APPROVED this 23rd day of August , 1977.
STATE OF ILLINOIS )
SS.
COUNTY OF C 0 O K
CONTRACT FOR THE SALE OF REAL ESTATE
1) , GEORGE VASSOS, or nominee, -------------------------------
--------------------------------------------------------
Purchaser)
hereinafter referred to as Purchaser, agrees to purchase for a price
of FOURTEEN THOUSAND THREE HUNDRED DOLLARS-------------------------
-----------------------------------------------1$ 14 ,300 . 00 ) ,
on the terms set forth herein, the following described real estate in
Lhu County of Cook , State of lltinois :
Lot 347 in Centex Industrial Park Unit 212 , being a
Subdivision in the North half of Section 34 , Township
41 North, Range 11, East of the Third Principal
Meridian, in Cook County, Illinois ,
with lot size approximately 80 ' x 154 ' .
2) . The VILLAGE OF ELK GROVE VILLAGE, an Illinois Municipal
Corporation, (Seller) hereinafter referred to as Seller, agrees to sell
the real estate described above at the price and terms set forth herein
and to convey or cause to be conveyed to the Purchaser or nominee a
good title thereto by recordable warranty deed subject only to:
A) . Covenants , conditions and restrictions of record;
B) . Private, public and utility easements and roads and
highways , if any; and
C) . General taxes for the year 1977 and subsequent years , if
any.
3) . Purchaser has paid $1,400 . 00 as earnest money to be applied on
the purchase price and agrees to pay or satisfy the balance of the
purchase price , to wit: $ 12 ,900. 00 , plus or minus
prorations at the time of closing.
4) . The time of closing shall be on September 1, 1977 , unless
subsequently mutually agreed otherwise , at the office of Seller' s
attorney or Pioneer National Title Insurance Company, provided title is
shown to be good or is accepted by Purchaser.
5) . Seller shall deliver possession to Purchaser on the day the
sale has been closed.
6) . No broker' s commission is to be paid.
7) . The earnest money shall be held by Seller for the mutual benefit
of the parties .
8) . Seller shall deliver or cause to be delivered to Purchaser or
Purchaser' s agent, not less that five days prior to the time of closing,
a title commitment for an owner' s title insurance policy issued by
Pioneer National Title Insurance Company in the amount of the purchase
price , covering title to the real estate on or after the date hereof,
showing title in the intended grantor subject only to: (1) the conditions
and stipulations and standard or general exceptions contained in the
owner' s policy issued by that company; (2) the title exceptions set forth
above; and, (3) title exceptions 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.
Every title commitment furnished by the Seller hereunder shall be
conclusive evidence of good title as therein shown, subject only to
exceptions as therein stated.
9) . If the title commitment discloses exceptions relating to title
other than those referred to in the proceeding paragraph, Seller shall
have 30 days from the date of the delivery to Purchaser thereof to have
these exceptions removed from the commitment. If Seller fails to have
these exceptions removed within this time, Purchaser may terminate this
contractor 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 action of the parties.
10) . If this contact 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.
DATED: August 23, 1977
SELLER: PURCHASER:
VILLAGE OF ELK GROVE VILLAGE
901 Wel 'ngton ADDRESS :
Elk G V' 1 , I113- 0 7
BY
Ch rles Zet , V age P esi ent
ATTEST:
Vlllagp Clerk
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