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HomeMy WebLinkAboutRESOLUTION - 17-14 - 5/13/2014 - REAL ESTATE CONTRACT - SANDRA J. KELLYRESOLUTION NO. 17-14 . A RESOLUTION AUTHORIZING THE MAYOR AND VILLAGE CLERK TO EXECUTE A REAL ESTATE SALES CONTRACT BETWEEN THE VILLAGE OF ELK GROVE VILLAGE AND SANDRA J. KELLY, AS TRUSTEE OF THE SANDRA J. KELLY AND FAMILY DECLARATION OF LIVING TRUST DATED OCTOBER 2, 1997, AND RONALD E. JACOBS AND SUE E. JACOBS (300 E. DEVON AVENUE) NOW, THEREFORE, BE IT RESOLVED by the Mayor 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 Mayor be and is hereby authorized to sign the attached documents marked: REAL ESTATE SALES 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 Mayor. 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 13`h day of May 2014. APPROVED this 13`h day of May 2014. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Judith M. Keegan, Village Clerk ConlracBOOEDevon REAL ESTATE SALES CONTRACT I. THE VILLAGE OF ELK GROVE VILLAGE, An Illinois Municipal Corporation, ("Purchaser") agrees to purchase at a price of Two Hundred Sixty -Two Thousand Eight Hundred Dollars ($262,800.00) on the terms set forth herein, the following described real estate in, Cook County, Illinois: LOT 15 (EXCEPT THE NORTH 210 FEET) IN WILLIAM LUMPP'S DEVON AVENUE FARMS, SUBDIVISON OF PART OF THE SOUTH QUARTER OF SECTION 33 TOWNSHIP 41 NORTH, RANGE II EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS COMMONLY KNOWN AS: 300 E. Devon Avenue, Elk Grove Village, Illinois 60007, (hereinafter referred to as the "Subject Property"). PIN: 08-33-401-034-0000 2. SANDRA J. KELLY, as Trustee of The Sandra J. Kelly And Family Declaration of Living Trust dated October 2, 1997, and RONALD E. JACOBS AND SUE E. JACOBS, (collectively "Seller") agrees to sell the real estate and the thereon described above at the price and terms set forth herein, and to convey or cause to be conveyed to i?RoP^i Purchaser or nominee of title thereto by a recordable warranty and/or trustee's deed, subject only to: (a) private, public and utility easements and roads and highways, if any: (b) special taxes or assessments for improvements not yet completed; (c) any unconfirmed special tax or assessment: (d) installments not due at the date hereof of any special tax or assessment for improvements heretofore completed; and (e) general taxes for the year 2013 and subsequent years including taxes which may accrue by reason of new or additional improvements during the year(s). 3. The time of closing shall be on June 13, 2014, unless mutually agreed otherwise, at the office of Chicago Title Insurance Company, in Rolling Meadows, Illinois, provided title is shown to be good or is accepted by Purchaser and provided the contingencies set forth in this contract have been satisfied and resolved within the sole discretion of the Purchaser. 4. Seller shall deliver possession to Purchaser at closing except as otherwise provided in this Real Estate Sales Contract, 5. Purchaser agrees to purchase the subject property in its present as is condition and acknowledges that Seller has not made any representations or warranties as to the building or its contents. 6. Seller agrees to furnish Purchaser a current staked survey and legal description of the above real estate at least fifteen (15) days prior to the date of closing. The cost of the survey shall be paid by the Seller. 7. Seller shall deliver or cause to be delivered to Purchaser or Purchaser's agent, not less than fifteen (15) days prior to the time of closing, a title commitment for an owner's extended title insurance policy issued by Chicago Title Insurance. Company in the amount of the purchase price. covering title to the real estate, showing title in the intended grantor subject only to (a) the general exceptions contained in the policy-, (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 or defects in the title disclosed by the survey, if any, as to which the title insurer commits to extend insurance. S. If the title commitment or survey discloses either unpermitted exceptions or survey matters (herein referred to as "exceptions"), Seller shall have ten (10) days from the date of delivery thereof to have the exceptions removed from the commitment or to correct such survey defects, 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 five (5) days after delivery of the commitment. If Seller fails to have the exceptions removed or correct any survey defects, or in the alternative, to obtain the commitment for title insurance specified above as to such exceptions or survey defects, or in the alternative, to obtain the commitment for title insurance specified above as to such exceptions or survey defects within the specified time, Purchaser may terminate this contract or may elect, upon notice to Seller within three (3) working days after the expiration of the ten-day period, to take title as it then is and may propose a deduction from the purchase price, liens or encumbrances of a definite or ascertainable amount. Seller shall have three (3) working days to agree to said deduction. If Seller does not agree to said deduction, Purchaser may elect to terminate this Contract, without further actions of the parties. 9. Rents, utility charges, premiums under assignable insurance policies, and other similar items ("Costs") shall be prorated at closing, general real estate taxes shall be prorated at closing Iop`74' based upon /o of the last ascertainable full year's real estate tax bill. Seller shall be "responsible for said Costs through the date of closing, and Seller shall cooperate and furnish any documentation necessary to comply with all state, county and local laws therewith. All prorations are final unless otherwise provided herein. 10. The provisions of the Uniform Vendor and Purchaser Risk Act of the State of Illinois shall be applicable to this contract. 11. Upon mutual agreement by the Purchaser and Seller, this sale may be closed through an escrow with Chicago Title Insurance Company, in accordance with the general provisions of the usual form of Deed and Money Escrow Agreement then in use by Chicago Title Insurance Company, with such 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 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 divided equally between Seller and Purchaser. 12. Seller represents that it is not a "foreign person" as defined in Section 1445 of the Internal Revenue Code and is therefore exempt from the withholding requirements of said Section. Seller will furnish Purchaser at closing the Exemption Certification set forth in said Section. 13. Purchaser shall have reasonable access to the subject property, for purposes of soil testing, surveying, engineering, examination and planning, from and after the execution of this Contract in order to conduct a Phase I Environmental Site Assessment ("Phase I") which shall be paid for by Purchaser. Such Phase I shall be conducted not later than May 30, 2014. If the Phase I reveals enviromnental concerns that necessitate a Phase II assessment. Purchaser shall order and pay for said Phase Il or give notice of termination of the Contract not later than June 6, 2014. If the Please II indicates no environmental concerns, this contingency shall be satisfied. If the Phase II raises additional concerns either party may terminate this Contract. With respect to the Phase I inspection, Purchaser shall save and hold harmless Seller from any costs or liabilities resulting from such access, and Purchaser shall restore the subject property to its original condition after each such inspection. If Purchaser determines, in its discretion, that, as a result of any environmental inspection of the subject property, the subject property is not satisfactory for the uses contemplated by Purchaser, Purchaser may notify Seller, in ATiting, and terminate the Contract. 14. Seller does hereby represent to Purchaser as follows: A. There are no leases, occupancy agreements, management agreements, or maintenance agreements relating to the subject property and Seller agrees not to enter into any such agreements relating to the subject property without the written consent of Purchaser. B. To the best of Seller's actual knowledge, there are no proceedings presenting, pending or threatened for the taking by exercise of the power of eminent domain or, in any other manner, for a public or quasi -public purpose, of all or any part of the subject property except as disclosed in this Contract. C. Except as disclosed in this contract, to the best of Seller's actual knowledge, there is no pending or threatened litigation or administrative proceeding involving in any manner the subject property. D. To the best of Seller's actual knowledge, there are no substances upon the subject property nor are there activities engaged in the subject property which constitute a violation of any environmental law. To the best of Seller's knowledge, there are no underground storage tanks upon the subject property; thus no IRPTA tiling is required, and Seller will provide Purchaser an affidavit to said effect at closing. In addition, to the best of Seller's knowledge, no toxic materials, hazardous wastes, hazardous substances, pollutants or contaminants have been generated, released, stored or deposited over, beneath or on the subject property from any source whatsoever, nor has any part of the subject property been used for or as a land fill, the result of which could impose any liability under applicable federal or state laws and regulations, including, but not limited to. the Comprehensive Environmental Response, Compensation and Liability Act of 1980 (42 U.S.C. 9601 ei seq. )and the Resource Conservation and Recovery Act (42 U.S.C. ' 6903 et seq.), and Seller warrants and represents that it has not received any notice nor is it otherwise aware of any K. There are no outstanding options or rights granted by Seller to acquire the subject property, or any part thereof, and there is no party other than Purchaser having any right or option to acquire the subject property or any part thereof, except any foreclosure rights set forth in any mortgages affecting the subject property. L. There are no contracts, whether written or oral, affecting the use, maintenance and operation of the subject property which survive the Closing that cannot be canceled with thirty (30) days notice. 15. Notwithstanding anything to the contrary, Seller shall complete and deliver to Purchaser within ten (10) business days after the date of this Contract fully completed originals of the following: Residential Real Property Disclosure Report, Disclosure of Information on Lead - Based Paint and/or Lead Based Paint Hazards, Disclosure of Information on Radon Hazards, and a Mold Disclosure, noting that all representations made therein shall be binding upon the Seller and survive Closing. 16. Seller agrees to deliver possession of the subject property at closing in the same condition as it is at the date of this contract, ordinary wear and tear excepted. 17. All notices to be given hereunder shall be personally delivered, sent by facsimile transmission, sent by overnight courier, or sent by U.S. mail, with postage prepaid, or by facsimile transmission, to the parties at the following addresses (or to such other or further addresses as the parties may hereafter designate by like notice similarly sent): TO SELLER: Sandra J. Kelly 6001 Whiting Drive Mc Henry, IL 60050 Ronald E. Jacobs Sue E. Jacobs 3408 Brushy Creek Drive Plano, TX 75025 With a copy to: SELLERS' ATTORNEY )C)dd17704�O TL ID -1/ -v�, s� VC -V sK 0- -'s; TO PURCHASER: THE VILLAGE OF ELK GROVE VILLAGE George B. Knickerbocker, Village Attorney Matthew J. Roan, Deputy Village Manager 901 Wellington Avenue Elk Grove Village, IL 60007-3499 With a copy to: William J. Payne 1 100 W. Northwest Hwy., 11103 Mt. Prospect, IL 60056 FAX No: 847-483-5029 All notices sent by mail shall be deemed effectively given on the business day next following the date of such mailing. All notices personally delivered, sent by facsimile transmission or sent by overnight courier shall be deemed effectively given on the date of such delivery. 18. This contract and the exhibits attached hereto, if any, embody the entire agreement between the parties in connection with this transaction, and there are no oral or parole agreements, representations, or inducements existing between the parties relating to this transaction which are not expressly set forth herein and covered hereby. This contract may not be modified except by a written agreement signed by all of the parties. 19. All parties hereto agree that time is of the essence in this transaction and that this contract may be executed in counterparts and shall be governed by and interpreted in accordance with the laws of the State of Illinois, however this Contract shall not be in full force and effect until approved by the Village Board of the Village of Elk Grove Village, by passage and approval by written ordinance or resolution not later than May 16, 2014, after which this Contract shall be void, and of no further force or effect. 20. Each party hereto shall respectively pay the fees and charges of their attorneys and consultants. IN WITNESS WHEREOF, the parties hereto have executed this contract this day of 2014. SELLER: Sue E. PURCHASER: ltzxl THE VILLAGE OF ELK GROVE J. Kelly. As Tru. e VILLAGE FAIts Mayor r' -6- ATTEST Its Village Clerk