CCR1989196c
COMMON COUNCIL - CITY OF MUSKEGO
RESOLUTION #196-89
RESOLUTION AS TO OFFEK TO PUKCHASE
CI Banker Wire h Iron Works, Inc.
BE IT RESOLVED that the Common Council of the City of Muskego,
upon the recommendation of the City's broker and the Finance
Committee, does hereby disapprove the attached Offer to
Purchase (CI Banker Wire h Iron Works, Inc. - Industrial Park
Addn. #l) in the amount of $23,000.00/acre, and authorizes the
making of a Counter Offer in the amount of $24,000.00/acre and
an agreement that the seller install the culvert at their
expense.
BE IT F'URTHEK KESOLVEL) that the Mayor and Clerk are authorized
to sign the Counter Offer in the name of the City.
DATED THIS 25th DAY OF July , 1989.
FINANCE COMMITTEE
Ald. Ldwin P. Dumke
Ald. Daniel J. Hilt
Ald. Harold L. Sanders
ATTEST :
City Clerk
7/89
jz
.. Y WB-13 VACANT LAND OFFERTO PURCHASE
Kilwaukee ... ..... .... . .~, ............. isc cons in. July. 1.1. ...
SHOULD READ THIS DOCUMENT CAREFULLY AND UNDERSTAND IT BEFORE SIGNING.
The undersigned Buyer, c. .x. Banker W,i~e. .&. ,Xrp,n, krks. Inc.,, by. George .R.. ,BnxhOrn, P.resident. . I
, hereby offers to purchase the property known as (Street Address) .Enter.prise. Drive.,. .Muskego. .Industrial. .Ear.k.
i more particularly described as: npp.KodW.telJ! 32 acres. of land on, Enterprise ,Drive as ahom. in. r.ed.
I. .. .. .. .. .... ...
! and on the terms and conditions as follows:
I Earnest money of $ I..OD.a t 0.0 in the form of .a. .check .. . tendered with this offer. AB$i+ieneI-eerwst
I moncfe~~$-r~.~~~~+..~~~.~~n~~e~e~~~.~~~.$-~~.~~~.~~~,~-&~~~~~b~~~~~~~~a~~ , ......................................................................................... .................................
j Failure of Buyer to make earnest money payments as provided voids offer at Seller's option. Earnest money, if held by broker,
sndthe-b&+webRe~e.
shnll be held In selling broker's trust account rior to acceptance ofoffer and thereafter in llstlng broker's trust nccount or untll
applied to the purchase price at closing or dis ursed as provided herein or permitted by law. TIME ISOFTHE ESSENCEASTO~~~~~~~~~~~~~~~~~~~ACCEPTANCE, LEGALPOSSESSION.
OCCUPANCY, DATE OF CLOSING AND AS TO ALL DATES INSERTED IN THIS OFFER EXCEPT NONE.
in the FitY.. .. . of ,N~keg.~+. .. .. ,County of . Maukesha.. ...... ,Wisconsin,
I 9.n t,~e..~~f.?~hed..~~...~aviag .a..deatk .of. .28.5.fee.t. ......
at the price of . Tnenty. .three, .tho.usaad. .and N.Oh.00. .per .acre. .. . Dollars ($23,00O.OO/acrk
E THEB.uyE.R,.soBLiGATio~.TocoNcLuDE.THiSTRANsAcTjo~iScoND,i;ioNEDupoNTH.ECoNsu"ATio.N
OFTHE FOLLOWING: (If this offer is subject to financing. survey, percolation test, specific zoning or use. approval of recorded building and use
restrictions and covenanls. or any other contmeencv. it must be stated here. If none, so state.)
...... ...... ............ ...... ... ... ..
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..,. .... ..... ... .. ...... ............. ...... k .............. .................. ...... ......... .......................
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Buyer agrees that unless otherwise epecified, Buyer will, in good faith,,pay all costs ofsecuring any financing to the extent
permltted by law. and w~ll perform all acts necessary to expedite such financing.
delivered free and c ear of encumbrances: all fixtures; anfall garden bulbs, plants, s rubs and trees.
Included in the urchase price are such of the followin items as may be on the pro erty on the date of this offer, which will be
ADDITIONAL ITEMS INCLUDED IN THE SALE: ,WE , .
P E
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..
INCLUDED IN THE SALE:. , . NOPE , , . ................. ....
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seller shall,^ onpaymentofthepurchaseprice,conveythepropertybywarrantydeed.orotherconveyanceprovidedhere!n.
free and clear ofa! liens andencumbrances, excepting: municipal and zoning ordinances, recorded easements for publlc,uthtles servin the property recorded building and use restrictions and covenants, general taxes levied in the year of closing nnd
and Sel!ershallcompieteandexecutethedo~umentsnecessarytorecord theconveyance.(WARNINC: Recorded builckand use restrlctlons and covenants can have materlal lmpacl on the use of or lm rovements tu the property.)
" Thisofferisbindinguponbothpartiesonlyifacopyoftheacceptedo~eris_dep_osited,postngeorfeesprepaid,intheU.S . - - . - -. . - - - " - . - - - - -~ " " - ~- - - . ." " mi!, -.
the %uh and kegulations of the Muskego Industrial Park as adopted by the City of
... .Muskego . ... .. .. ..... provided none of the foregoing prohibit resent use.
or a commercial delivery system. addressed to Buyer at 136. East .W.alker.. .Milwaukee.. .WL .. . or by personal
delivery of the accepted offer to Buyer on or before .. Julx 26., ,1989 ..... ......
is void and all earnest moneyshall be promptly returned to Buyer.
Otherwise, this offer
This lransaction is to be closed at the office of Buyer's mortgagee or at the office of .. Mooney. .LeSage. b. .Asso.. .Ltd.,
on or before ... .QChQbCr. .15.. ...... ,?, .......... 19. .89. .. or at such other time and place as may be agreed in writing.
Legal possession of property shall be delivered to Buyer on date of closing,
by Vacant. .Land. , , , ... .. ... .. .. ..
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Occupancyof .pr.opexty.. ....... ... . shall be given to Buyer m .at .Closing ...
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If% ...........
5 - - ............ ............................. , .................................................................................... ................
8 -" A
9 A- * .. I.
80 (Seller wsrrants)(~~d,-,-,-,,-i~~noner(ps~~4 of the property is located in a flood plain (Strike as
81 applicable).
82 (Seller warranls)!~d,,,,,,-,,i~ (none) h&4aU) of the property is located in a wetland (Strike as ,"
53 applicalde). I
8.1 ns
8(i . 87
88
89
90
91
92
Y3
94
Seller represents tl~at the property is zoned 1-1. .Indus.trlal. .Park. Y
Scller warrunls and represents to Huyer that Seller has no notice or knowledge of any:
(dplanned or commenced pulllic improvements which may result in specid assessments nr otherwise m;lteridly affect the
(I>)government ngency or cuurl order requiring repair, alteration, or correction of any existing conditiun.
(dshoreland or special land use regulations affecting the properly.
(d)undcrground storage tanks and the presence of any dangerous or toxic materials or conditions affecting the property.
EXCEPTIONS TO WARRANTIES AND REPRESENTATIONS STATED IN LINES 80 TO 90: Except that, ,a,
.Re.SeF.Ve. .Cap.aCitY. .As.seasme.nt. .for. SauitarJr S.ewer Seryic.e and. .a, Water Capacity. Assessment. does
XXiSL .against. .th.ls. .pro.per.ty... Tbese. Ass.ossments. .will, be. Buy,er.'.s, nbligation, LO p.ay. .when. due..
.Buyer. ,is respansible f.or. .the f1rs.t $.l.,O.OO...OO. .of. .cost. .to. .install. a .driv.evay culv.ert .for .
.. -
properly. Q
95 r.he .. prnperty ....... ..
96 'l'l~efulluwin~ite~nsshallbeprorutedasofihedayofclosi~lg:generult;~xes,rents,waterandsew~ruuechurges,hon~~~wn~r~'
97 association assessments, fuel, and 98 Any income. taxes, or expenses through the day of closing accrue to Seller.
99 00 on the net general taxes for lhe preceding year. General taxes shall be prorated at the time ofclosing based on the net general taxes for the current year. if known, otherwise
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01
02
0:I
04
06
07
or,
09
on
11
IO
12 13
15
14
16
17
19
18
20
I
3 2
4
5
fi 7
8
9
0
2
1
other special irssessmcnts shall be paid by Buyer. (Caution: Consider a special agreement if area assessments or homeowners'
S~~ecialassessn~enl~,ifany,forworkonsiteacluallyco~nmencedorleviedpriortodateofthisoffershnll bepaidbySeller.All
;issociation assessments are contem Iated )
Seller shall provide to Buyer ut 8eller'i expense at least three (3) business days before closinfi, GeWruitruFt
2. Acomn~itm~.ntfromntitleinsurnncecompanylicensedinWisconsintoissuetitleinsuranceinthenmount
~-~n~~e~~~~~~~n~~~~a~6~~ue~~----
showing title to the property as of a date no more than 15 days before such title proof is provided to Huyer to be in the condition
called for in this offer, and further subject only to liens which will be paid out of the proceeds of the closing and standard title
insuranceexceptions or abstract certificate limitations. as appropriate. Buyer shall notify Seller of any valid objection to title in
extended as necessary for this purpose,
wrltlng by closing. Seller shall have a reasonable time. hut not exceeding 15 days, to remove the objections, and closing shall be
required above and written proof, at or before execution, that the total underlying indeb edness, if any, is not in excess of the
Ifthisofferprovidesforalandcontract,priortoexecutionofthelandcontractSellershallprovidethesameevidenceoftitleas
!her on the underlying indebtedness.
roposed balance of the land contract. and that the payments on this land contract are sufhcient to meet all of the obligations of
If the transaction Ids to close and the parties fail to agree on the disposition of earnest money. then earnest muney held hy broker shall be dishurspd 3% follows.
of the purchsse price upon recording of proper documents;
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1 To Iluyer. unless Seller notifies Buyer and Broker in writing no later than 15 days after the earlier of the Buyer's written
demand for return of the earnest money or the dale set for closing. that Seller elects to consider the earnest money as
2. 'CoSeller,su~jecttonmountspayabletobroker,providedtl~eabovenoticeisgivenandneilherpartycommencesalawsuit
liquidated damages or partial payment for specific performance.
on this mntler within 30 days after receipt of the notice.
1)isbursemenl of earnest money does not determine the legal rights of the parties in relation to this agreement.
with this agreement or present Department of Regulation and Licensing regulations concerning earnest money.
lhth parties agree to hold the broker harmless from any liability forgood faith disbursement ofearnest money in accordance
Iftl~eproperlyisdamagedbyfireorelementspriortotimeofclosinginanamountwhichexceedsfivepercentofthesellin~~rice.
In making the disbursement, the broker shall follow procedures in Section RI. IR.09(4). Wis. Adm. Code.
...
thivcontractmayhccancelleclntoptionofBuyer.ShouldRuyerelecttocarryoutthisagreementdespi~suchdam;~ge.Buyersh;~ll
he enli~led to the insurance pruceeds relating to damage to property.
33
34 part..of. .this. .Offer. .to..Purchase .as.if fully incnrpnrared herein.. The. land Is presently.
SPECIAL PROVISIONS: .See Rider attached. her.etn .whose terms and. .conditions. are made. a, .
3ti .
J7
38 SellerandBuyerapreetoactingood~~~ithandusediligenceincompletinptheterms~fthisagreemenl.Thisagreementbinds
3s Owned PY !,he. .C$!.Y .Of Muelregs and. .cu.crentiy. t,ax. .exempt, ..
..... ..
..~ ... .... ..... ......
and their successors in interest.
41 (Buyer)
42 Huyer's Swi&&&y?$~. 3.9-1.222560 Iluyer's Social Security No
14 HEREIN SURVIVE THE Cl.OSING 01: THIS TRANSACTION. THE UNDERSICNEI) HERERY AGREES@
16 AS SET FORTH AND ACKNOWLEDGES RECEIPT OF A COPY OF THIS AGREEMENT
3 THIS OFFER IS HER1:HY ACCEPTED, THE WARRANTIES ANI) REPRI<SENTATIONS MAI)I:
5 TO SELL AND CONVLY THE ABOVI<-MENTIONEI) PROPERTY ON THE TERMS AND CONDITIONS
~ City of Muskego
4n j7 Dated: ... ... .
49 Offer is rejected (Seller initial.) .. Seller's Social Security No. ...... ..........
r0 Ofir iicountcred (Seller initial.)
j1 Persuant to Resolution II passed Jean"Marenda. City Clerk (Seller)
j2 by the Muskego Common Council on
.... 19. By: ......... ..... .................. ..
Wayne G. Salentine. Mayor (Seller)
"- - - ~ ~ .- ". - " . " -.- - -
By.:
Seller's Social Security No.
- ................. ...
... ... , 1989.
53 This offer was drafted by (Licensee and firm) Anthony., S... ,Bare.ta/Monney .LaSage. 4 ,Asso.clates, . Ltd
54 It was presented tu Seller by . . , ,
......
.... on ... 19.. . at .. .:. .... cl;.
._ >a
56 nroker acknowledges receipt of initial earnest money as per line I3 of the above offer.
EARNEST MONEY RECEIPT
.
1 RIDER TO OFFER TO PURCHASE
! Purchase attached as if fully incorporated therein and dated July 11, 1989
b by and between the City of Muskego. as Seller, and GI Banker Wire h Iron
The following terms and conditions are made a part of the Offer to
Works, Inc. as Buyer.
I. Suecial imwovements:
A. The purchase price includes the following improvements:
Sanitary sewer and water laterals are at lot line and fully paid
for and available for use by Buyer. Buyer will connect to sewer
and water at Buyer's expense. Electric and telephone service is
available along rear lot line. Natural gas available in+k%w-s.h. L-&
Drive. c7nn Ah
B. If said streets are not permanently surfaced at the time of the
completion of this transaction, said streets when permanently
improved shall be at the expense of the City and no special
assessments with respect to the permanent improvements of the
streets shall be assessed against the property herein described,
and the Buyer, his heirs and assigns, shall have no further
obligation with respect hereto.
11. It is avreed between Buver and Seller:
A. The provisions of paragraphs thirteen (13) and fourteen (14) of
the Rules and Regulations for the Muskego Industrial Park as
originally adopted by the City of Muskego by Resolution #145-70
on July 28, 1970, and further extended to cover Muskego Industrial
Park Addition #1 on May 27, 1986, are incorporated herein by
reference as if fully set forth herein. Said provisions provide
portion of the premises which are the subject of this Contract and
in effect that in the event the Buyer should desire to resell a
which are not being used in connection with Buyer's business, that
he must first offer the same to the City for repurchase The City
shall then have ninety (90) days to act upon said offer
B. These provisions shall constitute covenants running with the land
and shall be binding upon the successors and assigns of the
parties hereto and may be included in the deed which Seller
delivers to Buyer in completion of this transaction. Buyer
Rules and Regulations of the Muskego Industrial Park and that he
acknowledges that he has received a copy of the full text of the
has read and fully understands same
C. The warranty and representation made herein survive the closing of
this transaction.
BUYER: GI BANKER WIRE & IRON
WORKS, INC.
SELLER: CITY OF MUSKEGO
By :
Georg R. Boxhorn - Wayne G. -Salentinp, Mayor . .. - "W -~ - . ~ -1" - -~ . ~" i - " ~~.~_ -
Date: Date:
Countersigned:
By :
Jean Marenda, City Clerk
i