CCR1993070COMMON COUNCIL - CITY OF MUSKEG0
RESOLUTION #70-93
APPROVAL OF EXTENSION OF DEADLINE FOR OPTION TO PURCHASE
(Delta Group)
WHEREAS, the City entered into a "Right of First Refusal
Agreement" on April 12, 1990 with the Delta Group in the City's
Industrial Park Addition with regard to a parcel of vacant land
of approximately two acres; and
WHEREAS, the Delta Group has requested an extension of time for
the termination of said agreement from one year from its August
1, 1993 termination date; and
WHEREAS, the Finance Committee has recommended approval of an
amended "Right of First Refusal Agreement" which extends the
time of termination to August 1, 1994.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the
City of Muskego, upon recommendation of the Finance Committee,
does hereby approve the amended "Right of First Refusal
Agreement" to be submitted by the City's Broker.
BE IT FURTHER RESOLVED that the Mayor and City Clerk are
authorized to execute said Agreement in the name of the City
DATED THIS 23RD DAY OF MARCH , 1993.
SPONSORED BY:
FINANCE COMMITTEE
Ald. Patrick A. Patterson
Ald. Edwin P. Dumke
Ald. David J. Sanders
This is to certify that this is a true and accurate copy of
Resolution #70-93 which was adopted by the Common Council of
the City of Muskego.
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PART I: AMENDMENT TO/-
Right of First Refusal Agreement
qght of First Refusal Agreement>
Bu er and Seller agree to amend the "&e datrd .......... ....... ... April 12 IO ,SO. nnd a-
..................................................................................... acf~)ll~~ws:
Lched ................. hereto ......... :: ........ h., ,:- :: ............................
",,, .................................. ,I,
( ) Purchasc price is changed from $ . .... .... to$. .....
( ) Occupancy of the property is changcd from ... . to .
( ) Occupancy charge is changed from 9; .....
) Buyer is aware there are conlemplatcd rpccial asserrmcnts in the
the inshllatinn of and agrees to pay for came.
.... Fnr
) Seller agrecs IO pay $
installation of "/ yer at closing for contemplatcd special assessments for Ihe
itle insurance in accordance with lhc contract. Buyer agrees In
ance premium and the sum of the cost of extending any
............ ........... ................ .......
......... ........... ..... ................ .............. ........
............ ........................... ...... ............... ..............
(x3 Other: Th?. .righf. Of. .cj,T$t. ??.f.ss+l, gF3nCed .f~. B.w.e~ .I$. extended. under ,the. same.. ... .terms. an4 .c?cclit.i.o.% .Imc.i.l. .AugwF. ?... .L994. ...... ............... ...... .. .............. ..
NY PRIOR AMENDMENTS REMAIN UNCHANGED.
Seller: BY.:.
....... Dale Signed:. . P (?R.l.t. .),. .[.?? 3.
ATTACll TlllS AMENDMENT TO THE OFFER TO PURCHASE.
PART 11: NOTICE RELATING TO CONTRACT OF SALE
Thir nolice by (Seller) (Ruyer) relalcs In Ihc ollcr dnled
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.. 75
.. . 19. . , and acceplcd
, 19. , for the purchase and sale of real eslatc at .....
36 I, The lollwing arc no longer conditionc In the cnnlracl (supporting documents if required are attached):
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JI 2. Notice is given Ih3l:
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JR Buyer.
49 nhl!el:
50 Dale Signed:
$1
... ...
(Note: Only the party giving the nntice nbove must sign.)
Seller:
. . Seller:
Dale Signed:
?Tl,\Cll TIIIS NOTICF TO TllF OFFFR TO PIlRCllASE
\
040590del
RIGHT OF FIRST REFUSAL AGREEMENT
I RECITALS :
1. Buyer and Seller have entered into an Offer to Purchase
(the "Sale Cantract" ) dated January 23, 1990, far the property
- (the "Main Parcel") described as four acres of vacant lend at the
northwest corner of Enterprise Drive and Mercury Drive with 350
feet of frontage on Enterprise Drive and 350 feet of frontage on
Saturn Drive and 500 feel: of frontage on Mercury Drive.
2. Pursuant to the Sale Contract, Seller agreed to grant
to Buyer a right of first refusal with regard to the parcel Of
vacant land (the "Adjacent Parcel" ) of approximately 2.00 scres
(175' x 500') immediate1:r adjacent to the Main Parcel.
NOW, THEREFORE, for and in consideration Of the Recitals Bet
forth above and One Dollar (Sl.00) and other good and valuable
consideration the receipt of which is hereby acknowledged, Seller
2nd Buyer do hereby cove!nant and agree es follows:
1. Except as here,inafter set forth, if at any time prior
to August 1, 1993. Seller shall receive an offer from any person
to purchase the Adjacent Parcel which Seller intends to accept,
Seller shall deliver to 'Buyer a true copy Of the proposed offer,
deleting the purchaser's name, and notifying Buyer of Seller's
intention to accept the same. Buyer shall have the right,
exercisable within thirty (30) days after receipt of such notice
and offer, to purchase the Adjacent Parcel on the terms of the
said proposed offer in its own name or in the name of a nominee
for the purchase price and on the terms specified in said
proposed offer. If Buyer shall not elect to purchase the
Adjacent Parcel within said period, Buyer may then sell the
Adjacent Parcel to the said Purchaser submitting said offer
provided the sale is on the same terms and conditions and for the
same price set forth in.said proposed offer-
2. Notice of its election to purchase the Adjacent Parcel
on the terms of the proposed offer shall be given by Buyer to
Seller by personal de1ive.q or by mailing the same to Seller at
the City of Muskego City Hall, W182 58200 Racine Avenue, Muskego,
Wisconsin 53150 and,, shal.1 be deemed given upon deposit in the
United.States mail, postage prepaid, addressed as aforesaid.
3. The right of first refusal granted to Buyer shall
terminate on (a) the sale of the Adjacent Parcel to a purchaser
under an offer to purchase which was submitted to Buyer as
provided above and for which Buyer did not exercise its right of
first refusal, (b) the termination of the Sale Contract between
Seller and Buyer for the Main Parcel without Buyer having
purchased the Main Parcel unless such Sale Contract is amended,
extended, or renewed, or (c) August 1, 1993, whichever shall
occur first. In additir~n, the aforesaid right of first refusal
shall terminate on August 1, 1991 unless within ninety (90) days e
prior to said date Buyer notifies Seller that Buyer intends this
Right of First Refusal Agreement to continue: and the aforesaid
right of first refusal shall terminate on August 1, 1992 unless
within ninety (90) days prior to said date Buyer notifies Seller
that Buyer intends this Right of First Refusal Agreement to
continue.
IN WITNESS WHEREOF. the parties hereto have set their hands
and seals the day and year first above written.
BUYER;
SELLER: 1