CCR1979183.
RESOLUTION #183-79
APPROVAL OF RENEWAL OF CONTRACT BETWEEN CITY
(Industrial Park)
OF MUSKEG0 AND E. M. BOERKE, INC.
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 Muskego/Business Industrial Park, and
WHEREAS, it is necessary to renew the contract, and
WHEREAS, the Finance 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 Finance Committee,
does hereby approve of the proposed contract for the term of
one year between the city and the E. iM. Boerke Company, Inc. * BE IT FURTHER RESOLVED that the Mayor and City Clerk are authorized e to execute the contract in the name of the city after approval by
the city attorney. n
DATED THIS 2 5 DAY OF ,* , 1979.
FINANCE COMMITTEE
Ald. Ronald J. Ford
I& Ard: Eddin-umke
e ATTEST :
City Clerk
CONTRACT
This agreement is made between E. M. Boerke, Inc. (Broker)
and the City of Muskego (City):
The City hereby gives the Broker the sole and exclusive right
to procure purchasers for lots and acreage in that certain prop-
erty in the City of Muskego owned by the City and known as the
Muskego Industrial Park, which property is located on Racine Ave-
nue (County Trunk Highway "Y"), in the City of Muskego, Waukesha
County, Wisconsin.
Terms of Sale: The minimum sale price of any lot or acreage
shall be Sixteen Thousand Dollars ($16,000.00) per acre, with any
increase in lot price and/or acreage price, to be recommended by ,e the Broker and approved by the Common Council of the City. The
a 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. e 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 negoti-
ated during the term of this 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 One Thousand Six Hundred Dollars ($1,600.00)
per acre sold. 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. In the event the City
should sell a parcel or lot directly without the aid or assistance
of the Broker, a commission in the amount of ten percent (10%)
shall be paid Broker.
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 i
belong to the Broker;
The Broker shall
for the property locat
n excess of the commission agreed on, shall
the balance shall belong to the Seller.
use its best efforts to procure purchasers
ed in the Industrial Park and in addition to
usual methods of advertising, shall engage in such other promo-
tional activities as 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 , 1979.
E. M. BOERKE, INC. CITY OF MUSKEG0