CCR1976123RESOLUTION 11123- 76
APPROVAL OF RENEWAL OF CONTRACT BETWEEN CITY
OF MUSKEGO AND E. M. BOERKE, INC.
(Industrial Park)
WHEREAS, the City of Muskego has previously executed a
contract with the E. M. Boerke Company, Inc. as real
estate agents for the City's MuskegofBusiness Industrial
Park, and
WHEREAS, it is necessary to renew the contract, and
WHEREAS, the Industrial Coordinating Committee has
recommended that the contract be renewed,
THEREFORE, BE IT RESOLVED that the Common Council of the
City of Muskego, upon the recommendation of the Industrial
Coordinating Committee, does hereby approve of the proposed
contract for the term of one year between the City and the
E. M. Boerke Co., Inc.
BE IT FURTHER RESOLVED that the Mayor and City Clerk are
authorized to execute the contract in the name of the
city after approval by the cityottorney.
INDUSTRIAL COORDINATING COMMITTEE
f- kes/Lcl"- Charles C. Colburn
ATTEST :
/3-g+d
City Clerk
CONTRACT
This agreement is made between E. M. Boerke, Lnc. (Broker)
and the City of Muskego (City):
.I
The City hereby gives the Broker the sole and exclusive right
to procure purchasers for lots and acreage in that certain property in the
City of Muskego owned by the City and known as the Muskego Industrial
Park, which property is located on Racine Avenue (County Trunk Highway
"Y"), in the City of Muskego, Waukesha ~County, Wisconsin.
Terms of Sale: The minimum sale price of any lot or acreage
0-1: shall be Eight Thousand Five Hundred Dollars ($8, 500.00) per acre, with
any increase in lot price and/or acreage price, to be recommended by the
Broker and approved by the Common Council of the City. The sales price
of any lot or acreage shall include sanitary sewers, and municipal water
service with laterals to the lot line; also paved streets and storm sewers
where deemed necessary by the City. No further municipal improvements
for which special assessments may be levied are at the present time
contemplated by the City. The City will provide to the Broker a contract
form which will include the basic terms of every agreement to be approved
by the City, including paragraphs as to repurchase options in the event
building is not commenced within a year, and other particulars of the sale.
If a sale or exchange is made or a purchaser procured by the
Broker at the price and upon the terms specified herein, or at any other
terms, and the price accepted by the City during the term of this Contract
or if sold or exchanged within six (6) months after the termination of the
same to anyone with whom the Broker negotiated during the term of this
. .-
- 2-
contract and whose name the Broker has submitted to Seller in writing
prior to the expiration date of this contract, the City will pay to the Broker
a commission of ten percent (10%) of the sales price, but in no event less
- than a minimum commission of Eight Hundred Fifty Dollars ($850.00) per
sale. The Broker agrees that he will encourage other brokers to attempt
sales in the Industrial Park and in the event a co-broker shall negotiate a
sale, the commission shall be as agreed to between broker and co-broker.
Ln the event the City should sell a parcel or lot directly without the aid or
1 assistance of the Broker, a commission in the amount of ten percent (10%)
0". shall be paid Boerke.
All deposits paid to the Broker shall be retained by him in a
trust account and if forfeited by the Buyer, said money shall first pay for
cash advancements made by the Broker and one-half the balance, but not
in excess of the commission agreed on, shall belong to the Broker; -the
balance shall belong to the Seller.
The Broker shall use its best efforts to procure purchasers
for the property located in the Industrial Park and in addition to usual
methods of advertising, shall engage in such other promotional activities as
e-' It deems necessary to promote sales in the Park.
This agreement is for the term of one (1) year and can be
terminated by a ninety (90) day notice by any party.
Dated this &&day of ".
E.M. BOERKE, INC.
By:
, 1976. __
CITY OF MUSKEG0
*Y+ Mayor
City 60-yJ Clerk