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CCR1984052i RESOLUTION #52-84 (As Amended) REJECTING OFFER AND DIRECTING CITY ATTORNEY TO PREPARE COUNTER-OFFER TO PURCHASE (Richardson) WHEREAS, the Council indicated its willingness to consider Judith Richardson for the City-owned parcel on Hwy. 24, accepting a written offer to purchase of $20,000 from M. L. and contingent on obtaining road access, and WHEREAS, a formal offer has been submitted, and WHEREAS, the Finance Committee has recommended that a counter- offer be made to clarify contingencies. THEREFORE, BE IT RESOLVED that the Common Council of the City of Muskego, upon the recommendation of the Finance Committee, does hereby reject the offer to purchase as submitted by M. L. a counter-offer which would more specifically set forth the property would be conveyed by legal description. contingency as to the city providing access and that the BE IT FURTHER RESOLVED that the Mayor and Clerk are hereby authorized to execute the necessary legal documents to consummate the sale of the property in the name of the City if satisfactory to the City Attorney, including the approving of the proposed counter offer, which will include contingency on the obtaining of access to Hwy. 24 acceptable to the buyer, that the City will not provide a plat of survey and setting closing date for August, 1984. DATED THIS 27th DAY OF March , 1984. FINANCE COMMITTEE D and Judith Richardson, and directs the City Attorney to prepare 0 Ald. Edwin P. Dumke Aldi Mitchel Penovich P& QL Ald. Charles Colburn ATTEST : 0 City Clerk WB-I3 V-1 Lad We. To Yul~hLp by Ue Wisconsin Depanment of Regulation and Licensing 8 ..... ................. ..... 9 .... ..................... ... IO atthepriceof .~~s~~A,,, .b~.&f4#.~ ,. I I Dollars(So24/.dd~d. &. ) and on the terms and conditions as follows: I3 I2 Earnest money of$ ~tenderedherewith.Additionalearncrlmoneyof$.~~l)d~,~d .intheformof c#&ck IS 14 . . ~. ~ , and the balance in cash at closing or LIS hereafter set fan1 if this omer is the result of a co-brokerage, then all money paid herewith shall be held in the selling broker's vust account until the acceptance I 16 this omer and shall be transmitted to the listing broker upon such acceptance. 17 Additional earnest money payments shall be made to the listing broker and held in the listing broker's trurt account or .. to be paid within . 3. days of acceptance of olTer or on IP 23 (If this ofTer is subject to financing. percolation test. specific zoning or use, approval of recorded building and use restrictions and covenants. or an 24 other contingency. it must be ststed here. If none, so state.) 25 ... 26 .&&L&e~ .&@V&.Eb. .7(0. 27 .R P A. ffs &&b-O. *I!! .OEFR.. /s .K?t&ZE.*7 .m. .A. mEss. ALwy.. .;I.y Ay . m. 9+ /7Y 5 ....... .. ................ ...................... ........... ................................................... ... .... .. ....... ................................. 31 .... 32 . . ... ....................................... .... 33 ..... ................................................................. 34 .... ........ .... 35 36 37 .. .. 38 .. .... 39 ... 40 ~ 41 42 43 44 45 46 47 48 .. .. ... .. 49 50 .. 51 ................... ............................. ...... .... .. .. .. .. ... ... ... .. .. ..... .. ... .. .. ... .. .. .. .. .... ... .. .. .. ..... .... ....... ........ .. 52 Buyer agrees that unless otherwise specified, Buyer will pay all costs of securing any financing to the extent permitted by law. and to perform all ac 53 necessary lo expedite such financing. ~ I) ADDITIONAL ITEMS INCLUDED IN SALE: .e/* .m. PR@.v%b.c ,&aT .54dvef .. .. 59 ....... .. .. 60 Seller shall. upon payment oihe purchase price, convey the property by warranty deed:or other conveyance provided herein, free and clear of 7 6 I liens and encumbrances, excepting: municipal and zoning ordinances. recorded easements for public utilities located adjacent to side and rear 1, 63 62 lines. recorded building and use restrictions and covenants. general taxes levied in the year of closing and 64 66 6S 61 11 11 73 74 76 75 17 hgal possession of property shall be delivered to Buyer on date d closing. It is understood the property is now occupied by .. j&S&/r .... .hi!- under (oral lease) (written lease). which terms are: , , ..... .. . ., .......... ....................... .......... ... ..... Occupancy of . shall be dven to Buyer on . . If Seller is permitted to occupy property after closing, Seller shall prepay occupancy charge of S . ... In addition. the sum of $ payable as follows: . ., ahall be withheld from the purchaae price to be escrowed with to guarantee delivery of occupancy to Buyer AND FOR NO OTHER PURPOSE. which sum upon Seller's failure lo deliver occupancy shall paid to Buyer as liquidated damages or returned to Seller if occupancy is delivered to Buyer on the agreed date. .-/? /x , 19 ff , otherwise. to be returned to the undersigned Buyer no later than 3p All earnest oney paid shall be ap lied toward payment of the purchase price if this omer is accepted on or before 19 #)/and this offer shall become null and void. .I If this offer is accepted, it shall not become binding upon Buyer until a copy ofaccepted offer is deposited. postage prepaid. in the United Slates 1 mails. addressed 10 Buyer a1 a./:g.c/ .&.&;.?d.q .fi.'@.E;Jb#L"- .a@.< 1 .A.UL-KEG#, .&,/.a 5-3Ar3 , or by personal delivery thereof. * ! .. ... .... .. .. , on or before . . , 19 . ,or at such other time and place as may be agreed in writing by Buyer and Seller. This transaction is to be closed at the ollice of Buyer's mortgagee or at the ollice of Seller represents to Buyer that the property is zoned ......... .... .. ; .. ........ .. ...... Seller WBITMU and represenls to Buyer that the property is not located in a flood plain, as per ... .. .. .................................... ... ..... i k Caution: Refer to wetlands regulatlons.) eller warrant$ and repreaents u) Buyer that Seller has no notice or knowledge of MY: (a)plmned or commenced public improvement which may result in special assessmenu or otherwise materially aNect the property (b)govemment agency or court order requiring repair. alteration or correction of any existing condition. EXCEPTIONS TO WARRANTIES AND REPRESENTATIONS STATED IN LINES 86TO 91: I < .. .......................................................................... .I Intcrcrl. rents. water and sewer use charges and homeowners association asseusmenu uhall tn: prorated as OS the date oiclmins. Accrued i inwnlc IIII~ cxpenaes. including Iaxcs lor the day of closing. shall accrue to Seller. I IIIXCI ih thc preceding year. General taxes shall be prorated at the time of closing based on the IICI general taxes lor the current year. if known, olhcnvise tm UIC net genera I CAUTION: Ilpnlpcny hos not been fully assessed lor tax purposes. or reassessment is completed or pcndinm. tax prcryion shull. be (111 the basis OS '5 estimated annual tax. Make special agreement if area assessment(s) islare conternplated and/<,r hvmeowners \ nw>ciation has assessed or may assess. .. I '> a\wrsments. including any contemplated special assessments. shall be paid by Buyer. Special assessments. iSaiy. for work on site actually commenced or levied prior to date olthis oNer shall be paid by Seller. All other special !, Sellcr shall furnish and deliver IO hyer for examination at least IS days prior to lhe datc set lor closing. Scllcr's cht)icc 811 uithcr: I A c.omplelc ;thslr;lcl #,f lillc made hy an ahrtract company. exte~~Ied to within 30 clay\ of tllu cla,sing. rud al)strac~ IRI 411w Scllcr'h lillc to hc rnarkctahle and in the condition called for by this agreement. excepl for monprpcs. judgmenls or uthcr liens which WIII he salislkl I)UI oflhc pn,cecds OS lhe sale. Buyer shall notify Seller in writing of any valid objection to the title within IO days after the rcccipl '~lsaid ;abstract and Seller shall then have a reasonable time but not exceeding 60 days, within which to rectify thc title (or Surnish a title policy as hereinaiter 2. An owner's policy of title insurance in the amount of the Full purchase pnce naming Buyer as the insured, as Buyer's interest may appear. provided) and in such cases the time of closing shall be accordingly extended, or wrltten by a responsible title insurance company licensed by the State of Wisconsin. which policy shall guarantee Scllcr's title to bc in condition called for by this agreement. except for mongages, judgments. or olher liens which will be satisfied out OS the proceeds of the sale. A deemed sufficierd performance. '4 lumish wrillen prod. ator before closing, that the total underlying indebtedness, isany, is not in excess of the proposed balance ut thc land contract, lfthisoNerprovidesforalandconlract.thesameevidenceoititleshalibefurnishedpriortotheexecutionofthclandcoatr~ct.;IndScllershall '1 md that the payments on this land contract are sufkient to meet a11 of the obhgations of Seller on the underlying indebtedncss. I he pad to or retained by Seller as li uidated damar. If such money is held by Broker, Broker hall disburse such money as lollows: '0 I j commitmen~bysucha1illecompany.apreeingtoissuesuchatitlepolicyupontherecordingoftheproperdocumentsasagreedherein.shallbe I Should Buyer fail 10 caq out this agreement. a11 money paid hereunder. including any additional earnest money. shall. at the option olSeller. I ToBuyer. ifSellerhas not noli led Buyer and rokerm wntm oSSeller'selection toconsidcr all money paid hereunder as liquidatcddamages 2. ' ToSellerasliquidateddamages,subjecttodeductionsoSBroker'scommissionanddisbursements.ifany,ifneitherpanyharuommencedalaw SUII on this matter within I20 days OS the closing date set fonh in this agreement. Should Seller be unable to carry out this agreement by reasonofa valid legaldelect in title which Buyer is unwilling to waive, all money 7 \ or pan payment for specific pcriormance within 60 days otclosing date set forth in this agreement. or; ~ paid hereunder shall be returned to Buyer forthwith. and this contract shall be void. 3 SPECIAL PROVISIONS: . 9 0 1 3 I .. ....... HAS .4N AGENCY RELATIONSHIP WITH SELiER. Buyer has read, fully understands and acknowled es receiptof'a copy oithis offer to purchase. BUYERIS ADVISEDTHATBROKER I CLOSING OF THIS TRANSACTION. THE UNDERSIGNED HEREBY AGREES TO SELL AND CONVEY THE ABOVE- > THIS OFFER IS HEREBY ACCEPTED. THE WARRANTIES AND REPRESENTATIONS MADE HEREIN SURVIVE THE .' MI~.NlIONEDPROPER~ONTHETERMSANDCONDlTlONSASSETFORTHANDACKNOWLEDGESRECElPTOFACOPY 01.' I'IIIS AGKIISMIiNT. 19 " ...... (Seller) I, ..... 7 (If Seller is married. spouse should sign:) (Seller) 9 EARNEST MONEY RECEIPT '1 Earnest money in the amount of S . in lorn of lccount in~wisconsin. or transmit the sme in accordance with the terms 01 the above der. ~ ~ The undersigned hereby agrees to hold same in an authorized real estate trust received from ... 19 . BY . Broker m / RESOLUTION #52-84 REJECTING OFFER AND DIRECTING CITY TO PREPARE COUNTER-OFFER TO PURCHASE/ (Richardson) WHEREAS, the Council indicated its consider accepting a written offer contingent on obtaining Judith Richardson for the WHEREAS, a formal offer has been submitt d, and 'Y WHEREAS, the Finance Committee has that a coun offer be made to clarify contingencie t and er- THEREFORE, BE IT Council of the City of Muskego, upon Finance Committee, does hereby submitted by M. L. a set forth the Attorney to prepare that the are hereby of the City if DATED THIS DAG 9 / , 1984. ,/ '/ FINANCE COMMITTEE Ald. Edwin P. Dumke Ald. Mitchel Penovich Ald. Charles Colburn ATTEST :