CCR1987036COMMON COUNCIL - CITY OF MUSKEGO
RESOLUTION 1/36-87
ACCEPTANCE OF OFFER TO PURCHASE CITY-OWNED LOT
MUSKEGO INDUSTRIAL PARK ADDN. NO. 1
(McClure)
WHEREAS, an Offer to Purchase in the amount of $26,000.00 has
been submitted by Audrey and Oliver J. McClure for Lot 4, Block
3 in the Muskego Industrial Park Addition No. 1, and
WHEREAS, the Finance Committee and the City's broker has
recommended acceptance of said Offer.
NOW, THEREFORE, RE IT RESOLVED that the Common Council of the
City of Muskego, upon recommendation of the Finance Committee,
does hereby accept the Offer to Purchase submitted by Audrey
Block 3 in the Muskego Industrial Park Addition No. 1.
and Oliver J. McClure in the amount of $26,000.00 for Lot 4,
BE IT FURTHER RESOLVED that the Mayor and Clerk are authorized
to sign the necessary documents in the name of the City.
DATED THIS ,J fll& DAY OF hfiw,\ , 1987.
I I
FINANCE COMMITTEE
Approved by the Wisconsin Deparlment of Regulation and Licensing
**-.a nacm ~ano ulcer 10 iurcnafe
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IS , and the balance in cash at closing or as hereafter set forth. If this offer is the result oia cobrokerage. then all money paid herewith shall be held in the selling broker's vusi account until the acceptance of 16 this offer and shall be transmined to the listing broker upon such acceptance.
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,,ll!;,li':' :,i I I,. ! :, 17; :?II.!Additional earnest money payments shall be made to the listing broker and held in the listing broker's trust account or
99' TIME 1h OF THE ESSENCE AS TO: ADDlTlON'Ai EARNESTMONEYPAYMENT; LEGAL P0SSESSlON:OCCUPiNCY; AND
20 DATE OF CLOSING. (Slrike those not applicable.)
21 1 THEBUYER'SOBLIGATIONTOCONCLUDETHlSTRANSACTIONISC0NDlTlONEDUPONTHECC)NSUMMATlONOliTHE
22.! FOLLOWING:
23 (If this oNer is subject tofinancing. percolation test. specific zoningor use, approval ol'recorded building and use restrictions and covenants.or any
24 other contineency, it must be stated here. U none. so state.)
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52 Ruyer agrees thatunlessothemise specified. Buyer will pay nII costs ofrecuringnny fioancitlgto the extent pernlittcd hy law. llnd to perform nll ncts
53 necessary lo expedite such financing.
:54 ADDITIONAL ITEMS INCLUDED IN SALE: ./~<~~.<~~. ...
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57. ITEMS NOT INCLUDED IN SALE: :L . Md.N'L5
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59 60 Seller shall, upon payment of the purchase price. convey ;he property by warranty deed. or oher conveyance provided herein, free and clear of all
61 liens and encumbrances, excepting: municipal and zoning ordinances, recorded easemenls for public utilities located adjacent to side and rear lot
62 lines, recorded building and use restrictions and covenants, general taxes levied in the year of closing and ,,?!6&<", 63
64 iegal possession of propeny shall be delivered to Buyer on date of closing.
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65 It is understood the propeny is now occupied by .
66 undcr (oral lease) (written lease), which terms are: .
67
68 Occlpancy of . A&T, , ."
69 If Seller is permitted to occupy propeny alter closing, Seller shall prepay occupancy charge of S .
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s11:111 IX given to Iluyer on .C ,~.<'K:<K< /'W,?'K.. I
payable as follows: -
, ,In addition. the sum OK% .. L.. . .,. shall be withheld from the purchase price to be escrowed with 2.
,73 to guarantee delivery ofoccupancy to Buyer AND FOR NO OTHER PURPOSE. wI?ich sum upon Seller's failwe to deliver occupancy shall be
... 74 paid to Buyer as liquidated damages or returned to Seller if occupancy is delivered to Buyer on the agreed date.
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76 . All earnest money paid shall be a plied toward payment of the purchase price if this oller is accepted on or before @!?Kc'? ./3. .,. . IUV.? : otherwise, to be :eturned to the undersigned Buyer no later than /?/?/JLjc/f /&: : 1
77 '1 19 .87 and this oeer shall ,, become null and void. 1
- 7 8; - If this offer is accepted. it\!lilli :mt Dcsone bindin3 upon Bcyer until ccopyol acceptcdufter isdeposirtd, postage~repsid. in the United States
79 'mails, addressed 10 Buyer at dL"zC!/ ' /e,?<' .. /b'dA'i7' ............ 5&cCA'L.Ls- , , ......... 22- ,/~~3~C"~C~ ..............
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81 This transaction is to be closed at the office of Buyer's mortgagee or at the onice of ~.<?- 5
82
.......... ., or 6s personal delivery thereof.
.. .......... ..... ,on or before @ ,/.?<e1 ; '/
' 5.1 .#y/>.?.y' , 19 .J. /, ora such other time and place as may be agreed in writing by Buyer and Sellcr.
Seller represents to Buyer thdt IIIC property is zoned .x. s .-./. .. ........ ............. .... 85
86 Sellcr warrants and reprcwus tu Buyer tl~at the property is not located in a flood plain, as per .c/i/ C.C fl6'?&?f??<?
87
, 89 Seller warrants and re~~ru~ents tu Buyer lltitt Seller has no notice or knowledge of any:
.(a)planned or commenced public improvement which may result in special assessmenls or otherwise materially affect the propeny
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........... 88 (Caution: Reler to wetlhds regulatiom.)
90 91 (b)guvernment agency or cuurt urdcr requiring repair, alteration or correctiun of any existing condition.
92 'EXCEPTIONS TO WARRANTIES AND EPRESENT.4TIONS STATED IN LINES 86TO 91:. &?&??-, ,
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.. 91 Inteiest. rents, watsr and sewer use charger ani homeowners association assessments shall be prorated as of the date of closing. Accrued 98 income an3 expenses. incldwg tdxes for L+Z day of closing. shall accrue to Seilev.
99 100 laxes for the preceding year.
General taxes shall be prorated at the time ofclosing bascd on he net general taxes for the current year, ifknown. otherwise on the net general
10 I CAUTION: If prupeny has not been fully assessed for tax purposes, or reassessment is completedor pending,tax proration shall be on the basis of
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102 $ .. ./f& estimated annual tax. Make special agreement if area assessment(s) islare contemplated and/or homeowners
103 asspciation has assessed or may assess.
115 called for by this agreement. except for mortgages, judgments, or other liens which will be satisfied out of the proceeds of the sale. A
commitment by such a title company, agreeingto isiue such a title policy upon the recording ofthe proper documents as agreed herein.,shall be 116 deemed sufficient performance.
furnish written proof, at or before closing, that the total underlying indebtedness. ifany. is not in excess of the proposed balance ofthe land contract.
lfthisollerprovidesforalandcontract,thesameevidenceoftitleshallbefurnishedpriortotheexecutionofthelandcontract,andSellershall
and that the payments on this land contract are sufficient 10 meet all of the obligations of Seller on the underlying indebtedness.
Should Buyer fail tocarry out this agreement. all money paid hereunder, including any additional earnestmoney, shall,atthcoptionofSeller,
be paid IO or retained by Seller as liquidated damages. If such money is held by Brokx, Broker shall disburse such money as follows:. +.,
I, To Buyer, if Seller has not notified Buyer and Broker in writingofSeller's election toconsider all money paid hereunderas liquidateddamages
2. ToSellerasliquidatcd~~mages,subjecttodeductionsofBroker'scommissiunanddisbursemenls,ifany.?neilherpartyhascOmn~encsdaIdw .,
or part payment lor specific performance within 60 days of closing date set forth in this agreement. or;
suit on this matter within I20 Jays of the closing date set fonh in this agreement.
Should Sellcr be unable to carry out this agreement by reason ofa valid legal defect in tille which Buyer is unwilling to whe;:aIIAooey 4: I - i ,
paid hereunder shal: be 1,eturned to Buver forthwith. and this contract shall be void. -.
. ............................... Buyerltas read. fully understands and acinowledges rec'eipt ora copy oithis offer to purchase. :BUYERIS ADVISEDTHATBROKER
HAS AN AGIiNCY I<CI.A'I'IONSIIII'WlTll SELLER.
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CLOSING OF THIS TRANSACTICN. THE UNDERSIGNED HEREBY AGREES TO SELL AND CONVEY THE ABOVE-
MENTIONED PROPERTY ON THE TERMS AND CONDITIONS AS SET FORTH AND ACKNOWLEDGESRECEIPTOF A COPY OF THIS AGREEMENT,
THIS OFFER IS HEREBY ACCEPTED. THE WARRANTIES AND REPRESENTATIONS MADE HEREIWSWVIVE'T~IE
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I. ./ .,. ,.',I., Il1rn.L ,.,, I,l/l.L ti, I,U (Seller)
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F' EARNEST MONEY RECEIPT
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Earnest ~noney in the an~o~nl of S &"i>(:l , -..:.,. .... ... in form of ... YKK~T+. . ..CS,. ...
received from '/ -.~&~~/ .F%&&<:" ~, ~. ,
The undersigned hereby agrees 10 hold same in an aulhorized real-estate trust
KCOUIII in~Wisconsin. or transin~t the same in accordance with the terms of the above offer.