HomeMy WebLinkAboutRESOLUTION - 31-88 - 4/26/1988 - REAL ESTATE SALES CONTRACTRESOLUTION NO. 31-88
A RESOLUTION AUTHORIZING THE PRESIDENT AND VILLAGE CLERK TO
EXECUTE A REAL ESTATE SALE CONTRACT BETWEEN THE VILLAGE OF
ELK GROVE VILLAGE AND WILLIAM AND TERRIANN HIDAKA
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:
Section l: That the Village President be and is hereby authorized
to sign the attached documents marked:
REAL ESTATE SALE CONTRACT
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.
PASSED
this
26th
day
of
April
1988.
APPROVED
this
26th
day
of
April
1988.
Charles S. Zettek
Village President
ATTEST:
Patricia S. Smith
Village Clerk
CHICAGO 1 ASURANCE COMPANY • ILLINOIS FORM A'
® Real Estate Sale Contract
I WILLIAM AND TERRIANN HIDAKA (Purchaser)
agrees to purchase at a price of $ iw�, v�v . vu on the terms set forth herein, the following described real estate
in Cook County, Illinois: Lot 3 in Bloc1$ 1 in Winston Grove
Section 22 North, being a Subdivision in parts of Section 25 and 26, Township 41 North,
Range 100g, East of the Third Principal Meridian, according to the plat thereof recorded
1p}(b�AM69ecojjerIsCpOogfi�ounty�ogIlinoisy' Illinois on October 12, 1976 as Document Number
J 1ega7 desApnon is not included at time dJ execution, is
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 not applicable) (a) storm and screen doors and windows; AiW (c) outdoor television antenna; (d) wall-to-wall, hallway and stair
carpeting; (e) window shades and draperies and supporting fixtures; (f�VaVA 01B3b1=; (g) electric, plumbing and other attached fixtures as installed;
(h) v aw; vskmer: (i) refrigerator(s); 0) One range(Sf; (k) garage door opener with 2 transmitters; (1)-Fadimap sewFef
and also
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 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; (c)
(i) general taxes for the year 1987 and subsequent years gait as m 14 sh may
690FLIN b' -_ ___ Bf e OF -dilk'anal nnpreVtlnfatF daFMp- III- •jWaf(F) � I "Ad3a
3. Purchaser has paid $1, 450.00 (and will pay within 5 days the additional sum of $ 2, 900.00 ) 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 proration, at the time of closing as follows:
(Strike subparagraph inapplicable)
(a) The payment of $ 140, 650.00
(b) The oeeepht ee of Ois lille IS the FOR' III;
Purchaser [does] [does not] agree to assume) aggregating $
payment of a sum which re resent
mortgage or trust deed on the real estate in the amount of $
__^a4akvestt'*TTMF—raTe__of %a year, and the
on the indebtedness at the time of closing and the balance of the purchase
or such lesser sum as Purchaser
not to exceed
% a year to be amortized over years, the commission and service char es not to exceed %o If, after making
every reasonable effort, Purchaser is unable to procure such commit 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 Seller, at his option, within a like period of
time following Pu ce, 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 1, 1988
epeeativar 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 the day#-okw the sale has been closed
7. Seller agrees to pay a broker's commission to no person, firm or corporation
in the amount set forth in the brokers listing contract or as follows:
8. 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 1_ days
from the date below, otherwise, at the Purchaser's option, this contract shall become null and void and the earnest money shall he 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.
•Form normally used for sale of
property of four or fewer units.
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SNOI1VindI1S aNV SN0111aN00
RIDER TO REAL ESTATE SALE CONTRACT BY AND BETWEEN
WILLIAM AND TERRIANN HIDAKA (PURCHASER) AND THE
VILLAGE OF ELK GROVE VILLAGE (SELLER)
DEFAULT, DELAY IN CLOSING, ADDITIONAL CONSIDERATION
If the Purchasers fail to close this purchase by July 1,
1988 or otherwise terminate this Contract then all earnest money
and other additional consideration paid to Seller by Purchasers
shall be forfeited to the Seller as liquidated damages, except
as hereinafter provided. If Purchasers are unable or unwilling
to close on July 1, 1988 Purchasers may elect to extend the
date of closing as follows:
1. Pay Seller the sum of $800.00 to extend the closing
from July 1, 1988 up to July 31, 1988, which payment
shall be deemed as additional consideration and not
as earnest money to be applied to the purchase price.
2. Pay Seller an additional sum of $800.00 to extend the
closing from August 1, 1988 up to August 31, 1988,
which payment shall be deemed as additional consider-
ation and not as earnest money to be applied to the
purchase price.
3. Pay Seller $1,450.00 for each additional month or portion
thereof beyond August 31, 1988 which Purchasers request
the closing to be extended, $800.00 of which shall
be deemed additional consideration and $650.00 of which
shall be deemed additional earnest money to be applied
to the purchase price, provided that Purchasers' right
to extend the date of closing shall not extend beyond
November 30, 1988. If the closing shall not occur
prior to November 30, 1988 (except as occasioned by
an act of Seller) then and in that event this Contract
shall be terminated and all earnest money and additional
consideration shall be forfeited to the Seller as liqui-
dated damages.
ORDINANCE 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•
Real Estate Sale Contract
THE VILLAGE OF ELK GROVE VILLAGE, an Illinois Municipal Cornoration (Purchaser)
agrees to purchase at a price of 5 150,000-00 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
jijn the Recorder's Office of Cook County Illinois, on October 12, 1976 as Document
yT ergal 23688769ona rr int lr�Iur rCoome tkl. eCountty, Illinois is
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; (b)iti irs; (c) outdoor television antenna; (d) wall-to-wall, hallway and stair
carpeting; (e) window shades and draperies and supporting fixtures; (l)-veneiian blind ; (g) electric, plumbing and other attached fixtures as installed;
(h) water softener; (i) refrigerator(s); 6) one targets); (k) garage door opener with two transmitters; (1)swii86flwwwee;
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; (e)
Party mail Fights "I d egfeeffienks, W an5j HJI) eftkliRg WASeS arid leRRHO I!S� (e) Spee 81 idlift dIF OSSO. tslarti nryfftwemeotsn ePyet ee ryleted, (f)any
eaneaienai g)-iawallmunts aoi-daoafPyL >p:cid-tar4uF-asw.r.meAI,fur-imprtwwnxRt�-Irerwafaw
(i) general taxes for the year 1987 and subscquetu years
3. Purchaser has y,aidS bawdwill pay within 10 days the add ieiena sum of510, 000. 00 lasearnest moneyto 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 S 140, 000.00
(b) besereabj091 10 0 MaHgagO 41469111119j)Of roes
12-w-kasu; fig is! [dows AGO!. r_..c h.-Hot}interest a,s.••^•,^f gayear aatlihe
prlee.
4. hay-PaFcfraseFbe-ablaiaprocurawahi =----daysa.Grm s:emmitarew fos.aJoaa.to.bese—r-d.hy a
mortgage or !Fus deed OR !lie Fbal osis o in the a t"At 4&- OFA ChIs F bit asFwcbaser
wi nttatte eaeeed %. If, 9f.dF 161%.:we
twin-anabkio-preenttreaeheii mittxnfFwiNtix NtWimusPaeifwd-IwrwRarHl-swwtN+Gud tie0ac-hswof.. 4im thia'iraa,
rehaser-suchaeemmirtnaawr-aeliGus-Rarchabtw-tkatF '
*act
5. The time of closing shall be on March 5, 1988
eINIFA w, 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 41W
, 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
g. The earnest money shall be held by
for the mutual benefit of the parties.
Seller
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 he 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 President
ATTEST: Patricia S. Smith
flaroMeser
village uIerk
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 to he del is er • o Pu rchasef nt Pt r �hasc '. a Menti al I y s tha 5 e � vs riur tothe time of closing, a title commitment for
ef�Eorncvs 1.M,e: '6uctvran�V `I''unt�', it .
an owner's title insurance policy issued by t , in the amount of t We purchase price, covering title to the real estate 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 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 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 also shall furnish Purchaser an 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 unpermitted exceptions, Seller shall have 30 days from the date of delivery thereof to have theexceptions 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 15 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 com mitment for title insurance specified a bove 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. Rents, premiums under assignable insurance policies, water and other utility charges, fuels, prepaid service contracts, generaltaxes, 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 taxesis
not then ascertainable, the adjustment thereof shall be on the basis of the anount of the most recent ascertainable taxes. The amou it efenli general tome.
All prorations 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 Sellers agent in the form required pursuant to the Real Estate Transfer Tax Act of the State of Illinois and shell
. meet atHeeH bFshed b5 mn� loeakrrdinarree%1,h gard toa!in nsit
lily -the- tape *hall brpaid -by-i he-(4%reheaer) (Seller). fsrr ke-erK:l
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. At the el Ilion of Seller gr qc ser onnoticetot eotIt rp tv not less than 5 days prior to the time of closing, this sale shall be closed through an
��,tort}eys_4 rtl el 'I arantp uncle Yrtrtc.
escrow with -- mac[or ice slit he general provisions of the usual form of Deed and Money Escrow Agreement then
tt Lnevs, _ it, , usra2kt and hinc..
in use by ,wit ch special 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 priceand deliveryof deed shall be
made through the escrow and this contract and the earnest money shall be deposited in the escrow. The cost of t he escrow shall bei
Wlai-„ad assessed the party requesting same.
7. Time is of the essence of this contract.
8. All notices herein required shall be in writing and shall be served on the parties at the addresses following their signatures. Themailingof 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 failureshall beconsidereda
breach on the part of said party.
FORM 1772R 1179