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CCR19922980 12/92 jmb COMMON COUNCIL - CITY OF MUSKEG0 RESOLUTION #298-92 APPROVAL OF OFFER TO PURCHASE (Kids Kampus Group, Inc. - Industrial Park Addn.) BE IT RESOLVED that the Common Council of the City of Muskego, Committee, does hereby approve the attached Offer to Purchase in upon the recommendation of the City's broker and the Finance the amount of $40,000 for a 2.4002 acre parcel in the City's Industrial Park on Enterprise Drive, contingent upon review and approval of the City Attorney. BE IT FURTHER RESOLVED that the Mayor and Clerk are authorized to sign the necessary documents in the name of the City. DATED THIS 8TH DAY OF DECEMBER , 1992. SPONSORED BY: FINANCE COMMITTEE Ald. Patrick A. Patterson Ald. Edwin P. Dumke Ald. David J. Sanders This is to certify that this is a true and accurate copy of Resolution #298-92 which was adopted by the Common Council of the City of Muskego. 14: TIilS OFFER IS HEILEBY ACCEPTED. THL WARRASTIES .AND REPRESENTAT~OXS "/\DE 14. NEREIN SURVIVE TH3 CLOSING OF THIS TRANSACTION. THE LNDERSiCSED HEREBY AGREES :.15 TO SELL AND CONY1 Y THE AROVE.MENTlOh'ED PROP6RTY ON THE TERMS AND CONDITIONS 1.16 AS SET FORTK AhD ACKNOWLEDGES RECElP~i~vFo~nr;6~~cYoOf THIS AGREEMF.NT !IOOSEY LeSlCE RIDER TO om ro PURCHASE The foUowlng terms aad conditions :Ie made a part nf thc Option In Purchase atechcd RI if hllly incorporated therein and &led 0cbl)cr 22, 1992 by and between tlle City of Muskego, as Sdk, h P- . ay- fib:; kh$?Js I NL I. Cab: Buycr'A ObUgidon to conclude 1111s vansaclion shall be condngent upon the following: A. Buyer omking from the cjly of Muskego and all other appropriate governmend bodies, an or before March 15,1993, at Buyer's sole cost, all necessary or appropriate building, zoning and other approvals and permits, so as to permit the wnrtrucdon and operalion on the Property of a daycare facility and other activities as are axeptable by Bllyer in ils 30k discretion (the "Project"). Upon Buyers receipt ,Ir govemmenlal approvals, this contingency shall be deemed satisfied or waived. If govemmentA approvals or Buyer's written notice of satisfaction or Buyer's walver of this contingency is not submined IO Seller within the time frame set abov:, then at lhe uption of Buyer or Seller, this Offer shall be null and vold and all camest money to bc renmed to Ruyer fnrthwith. 8. Buyer entering into, on or before Jan~~ary 15, 1993, In form and substance acceptable to Buyer at Buyer's sole discretion IO conshct the project. If Buyer satisfactnry to Buyer an agreement wilh a Builder under terms and conditions does no; give wrinen notice of satisfaction or Buyer's waiver of this contingency within UE time frame set above, then this Offer, at the option of Buyer or Seller. shall be null and void :md all eamest money returned to Bnyer forthwlth. C. Buyer o!)laining. on or beforc March 15. 1993. satisfactory soil borings and other WnstruCUOn thefton, without unusual cost or expense of the Project, and the tests of $e Property for determlnlng the suitability thereof for conventional by engineers selected hy, and at the sole cost of Buyer. If Buyer does not give absence of any environ:ncntal problems or concerns. which ests shall be prepared written liotice of satisfaction or Buyer's waiver of this contingency wilhin the time frame s~t above. Ihen this Offer, at Ihe option of Buyer or Scller, shall be null and void ancl all earncst money returned lo Buyer forthwith. D. Buyer shall have obtained. on or before March 15, 1993, a committnenr for a fust purchase price of the Property and Project, with a fixed rate interest not to exceed mortgagc loan from a lending institution in an amount ,not jess than 90% of the years. fJl other terms and conditions of such mortgage loan shall be reasonably 10% Pel mum. amortized over a 30 yea period and a term of not less than 5 .QtiSfacttuy to Buyer ar.d Buyer's counsel. If Buyer does not give written notice of SatiSfaCti3n 01 hyCr'S ,UdVef Of lhis contingency within the time frame set above, then Lhih Offer. at the option of Buyer or Sellcr. shall be null and void and all earnest money returned to Buyer forthwith. dci t, l?u<zL. S+'L ,m*r 7kr &,y.,rm UlTM,N ds h.fi or /%=~fl,W~~ II. Access I A/b.'Z' Am 9'6 6-~+r mowq &ecrd,zn/do ~~,b~,fU, r of TM,S ~w&z a7 6wF.a .Ad DOC~C~,J~ BY~rr 5.- 7em.&~i-t v+//1 Co 4 w,rd (rffirr~ N&>d p r;~dP. ~~r*~.q n+6 %+prmmc 3c? A. Seller apes that Buyer shall have full and complete access to Seller's pmpeny and license to go upon the property for purpasc of soil borings md testings, environnental audits, excavation and engineering testing. surveying and topography ptmit zny liens to atk,:h to Scllw's propeny by reason of such activities. Buyer measuremen&, and any related mancrs. all at Buyer's role co3t. Buyer shall not shall ma:ntain lisbility insurance for all such activities on Ule subject property. To connectinn with the fnrrnninr, wrh rh-11 --+----I .- . ' -, .. the extcllt Buyer may disturb any Of the surface or subsurface of the land in t A. The purchase price includes the following improvements: Sanitary sewer and 2” water lamah are at lo: line and fuUy paid and available for use by Buyer. Boyer will conllect to sewer and water at Buyer’s expense. Electric and telephone service is availal)lc along lot line. Natural gar is available in adjacent Drive. B. If said axeto are not permanently surfaced at the time of the completion of this transactifin, said suets when permanently improved shall he at thc expcnsc of thc City an6 .no special asst.ssments with respect IO the permanent improvements of the sheets shall be assersul against the properly herein described, and the Buyer, his heirs and assigns, shall have no further obligation with rerptrt hereto. A. Tne provisions of paraj:aphs thirteen (13) and fourteen (14) of the Rules and Regulations for the Muskego Indusbiai Park as originally adopted by the City of Muskeg,) Industrial Park as originally adopted by the City of Muskego by Resolution #145-70 on July 28. 1970, and further extended lo cover Muskego Indusuial Park Addlrlo~~ #I on May 27, 1986, arc incorporated herein by reference z if fully set forth herein. Said provisions provided In effect that in the event the Ruyer should desiie t11 resell a portica of the premises which are the subject of this Contract and which are not being u3.d in connection with Buyer’s business, that he must first offer thr same 10 the City for repurchase. Thc City shall then have ninely (90) days to act ullon said offer B. These provisions shall constitute covenants running with the land and shall be binding upon the successors and assipnr of he parties hereto and may be included acknowldges that he Ilz rcfeived a copy of the full text of the Rules and in the deed which Sellr:r delivers to Buyer In completion of this transaction. Buyer Regulatians of the Mu:;kego Industrial Park and that he has rmd and fuUy understands same. C. The wznanty and reprcsentation made herein survive the closing of this transaction. SELLER: CITY OF MUSKEGO Muskego.Rid PRCFAREO BY RUEKfRT & YIfLKE. INC. WAIJKESHA, H1. 531.88 W2J9 N1.512 ROCKw000 DR. UNPLATTED LANDS "- """ i TEMPORARY "