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BILL NO. 90-129
SPONSORED BY COUNCILMAN woOD N
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ORDINANCE NO.
AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI, AUTHORIZING THE
MAYOR AND I INSURANCE CLERK
FOR THE PURCHASE OF REAL AGREEMENT E TATE FROM THI I
E CITYOF
BENEFIT
JEFFERSON.
BE IT ENACTED BY THE COUNCIL OF THE CITY OF JEFFERSON, MISSOURI, AS
FOLLOWS:
{ Section 1. The Mayor and City Clerk are hereby authorized and
directed to execute an agreement with Family Life Benefit Insurance
for the purchase of real estate from the City of Jefferson. The
amount of the contract shall not exceed $15,000.00.
Section z . The agreement shall. be substantially the same in
form and content as that agreement attached hereto as Exhibit A.
Section 3 . This Ordinance shall be in full force and effect
from and after the date of its passage and approval.
Passed ly� Approved
residi ficer ayor
ATTEST:
F City Clerk
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CONTRACT FOR THE SALE OF REAL ESTATE
THIS CONTRACT, made and entered into this lD day of .a
1990, by and between the City of Jefferson,
Missouri, a municipal corporation, hereinafter referred to as
Seller, and Family Benefit Life, a corporation operating under the
laws of the State of Missouri, hereinafter referred to as Buyer.
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WITNESSETH,
1. SALE OF PROPERTY. For and in consideration of the mutual
obligations of the parties hereto, the Seller hereby agrees to sell
and convey unto the Buyer and the Buyer agrees to purchase from
Seller, upon the terms and conditions hereinafter set forth, the
following described real estate situated in the County of Cole, • � *
State of Missouri, to wit:
ON
Part of Inlot No. 531, in the City of Jefferson, Missouri, ,, , ,'
more particularly described as follows: .;.. .
From the northwesterly corner of Inlot 531; thence southerly
along the westerly line of said Inlot, 73 feet 9 inches to the sf
point of beginning; thence continuing southerly along the `t
westerly line of Inlot 531, 93 .7 feet, more or less, to a
point 31. 3 feet northerly of the southwesterly corner of said
Inlot No. 531; thence easterly 24 feet parallel with the '
southerly line of Inlot 531; thence northerly parallel with
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the westerly line of Inlot 531, 93 .7 feet; thence westerly
parallel with the northerly line of Inlot 531 24 feet, to the r
point of beginning.
F.
2 . SALE PRICE. The price for the said property shall be Fifteen il
Thousand Dollars ($15, 000. 00) to be paid by the Buyer as follows:
One Hundred Dollars ($100. 00) at the time of the execution and
delivery of this contract, the receipt of which is hereby
acknowledged by the Seller as a part of the purchase price and
consideration for this agreement, and upon delivery of the deed as
hereinafter provided at the time of closing, the Buyer shall pay
the balance of Fourteen Thousand Nine Hundred Dollars ($14 , 900) to
Seller in cash or by check issued by the Buyer.
3 . CLOSING. The sale under this contract shall be closed at the
offices of Seller on or before the ' 31st day of December,
1990, or at such other time and place as the parties may mutually
agree. If there are defects in the title to the property which
require correction, then the time of closing may be extended by the
application of the provisions of the general closing conditions and
sales practices contained herein. Buyer agrees to pay the cost of
the abstract or title insurance for this property.
4 . ABSTRACT OF TITLE. The Seller shall within ten (10) days from
the date hereof deliver to the Buyer an Abstract of Title to said
property certified to date by a competent abstractor showing the
title marketable in fact in the Seller and taxes, assessments,
judgments and mechanics liens of record affecting said property,
subject however to any exceptions herein stated.
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The Buyer shall have ten (10) days after such delivery to
examine said abstract and if the title of said real property is
defective, the Buyer shall specify the objections in writing and <:
deliver the same to the Seller within ten (10) days after such
s.
delivery of the abstract. The Seller shall have any such defects
l corrected within sixty (60) days from the date of delivery of such
objections. Any defects appearing in the abstract and not objected
'! to, except 'liens of record which can be removed as of course by the v!
payment of money, shall be deemed waived but only insofar as
correction of the abstract is concerned. If any of said defects so
noted are not corrected within sixty (60) days after delivery of
such objections then this contract shall be null and void and the '°s(
earnest money deposited as aforesaid shall be returned to the Buyer
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and the abstract returned to the Seller.
5. TITLE INSURANCE. In lieu of the Seller furnishing to Buyer
f such Abstract of Title for examination, the Seller may within
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twenty (20) days hereof deliver to Buyer a commitment to issue an
owner' s policy of title insurance. Any commitment made hereunder
shall be in the amount of the purchase price of the property, ` =
€, naming the Buyer as the insured and issued by a title insurance
company licensed to write title insurance in Missouri which policy
`. shall insure the owner's title to be marketable in fact as called '
for by this contract and shall provide that a policy shall bek
issued immediately after the Seller' s general warranty deed to the
Buyer is placed of record. The cost of said title insurance will
:,,,•. be paid for by the Buyers.
'F 6. MARKETABILITY OF TITLE. It is understood and agreed that s
+ title herein required to be furnished is marketable title as set .
{_ forth in Title Standard 4 of the Missouri Bar. It is also agreed
t: that any encumbrance or defect in the title which is within the
scope of any of the Title Standards of the Missouri Bar shall not
constitute a valid objection on the part of the Buyer, provided the
Seller furnish the affidavits, or other title papers, if any,
f:
described in the applicable standard.
�4.
t 7. WARRANTY_ DEED. If the title to said real property be
marketable in fact as called for herein, the Seller shall deliver
for the Buyer at closing a general warranty deed free and clear
from all liens and encumbrances whatsoever and the Buyer shall then
and there pay the balance of said cash payment hereinbefore
provided for.
S. TAXES. The Seller shall pay in full all State, County and
Municipal taxes and assessments, general and special , which are a
lien on said property except taxes for this calendar year which
shall be prorated as of the date of the delivery of the deed. If
the amount of taxes cannot then be ascertained, proration shall be
computed on the amount of general taxes for the preceding calendar
' year. In the event Seller have paid to any lender a deposit for
taxes, such amounts shall be applied toward the payment of Seller' s
p obligation under this paragraph and shall be assigned to Buyer and
Buyer shall reimburse Seller for any excess over the amount of
�, Seller' s obligation for prorated taxes hereunder, and if 'such
deposit is not sufficient to satisfy Seller's obligation hereunder, `M
Seller shall pay to Buyer the amount of any difference.
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9, it is understood and agreed that because
of the commitments of e parties, time is of the essence of this
agreement, and if the Seller have kept Seller's part of this
agreement by furnishing marketable title as herein provided, and
the Buyer fails to comply with the requirements of this agreement
(10)
within ten days thereafter, then the money deposited as
aforesaid shall be paid over to the Seller as liquidated damages,
actual damages being difficult if not impossible to ascertain, and
this agreement may or may not be thereafter operative, at the
option of the Seller.
10. INSURANCE. It shall be Seller's obligation to keep the
improvements on the said property fully insured until the date of
the delivery of the deed to the Bu yer. If the improvements on the
r destroyed by fire or
said property a re substantially damaged o
other casualty prior to the closing of this sale, then the Buyer
shall have the option of accepting all of the insurance proceeds
and proceeding with his performance under this contract, or
canceling this contract whereup on the earnest money deposited as
aforesaid shall be returned to the Buyer and the abstract returned
to the Seller.
In the event the parties hereto agree that any insurance
policy on the property subject hereto is to be assigned to Buyer,
then at the time of closing Buyer agrees to pay to Seller pro-rata
any amount of unearned insurance premium thereunder and the policy
shall be assigned to Buyer.
LAW OF MISSOURI. The contract shall be construed according to
,U the laws of the State of Missouri. Seller shall comply with all
local, state and federal laws and regu lations related to the
the extent e may, be
performance of the contact to t that the same
applicable.
12. ENTIRE AGREEMENT. The entire agreement between the Buyer and
Seller shall consist of this contract
IN WITNESS WHEREOF, the parties hereto have executed this
agreem ent the day and year first above written and acknowledge
receipt of one copy of the contract.
SELLER BUYER
CITY OF JEFFERSON FAMILY BENEFIT LIFE
May
Attest:
City " Clerk Title: gfr#wr
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WARRANTY DEED
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THIS DEED Made and entered into this day of
1990, by and between the City of Jefferson, Missouri, a municipal "u
:r corporation, party or parties of the first part, and Family Benefit f
Life Insurance Company, a corporation operating under the laws of
+'7 the State of Missouri, County of Cole, State of Missouri, party or }
+•r
parties of the second part: (Grantee 's mailing address is : 325 E.
McCarty, Jefferson City, MO 65101) . r.
WITNESSETH, That the said party or parties of the First part,
3' for and in consideration of the sum of ten dollars and other
:. valuable considerations paid by the said party or parties of the
} Second part, the receipt of which is hereby acknowledged, does or
do by these presents Grant, Bargain and Sell , Convey and Confirm, q
unto the said party or parties of the Second Part, the following
described real estate situated in the County of Cole in the State
of Missouri to-wit:
7+X
Part of Inlot No. 531, in the City of Jefferson, Missouri,
more particularly described as follows:
From the northwesterly corner of Inlot 531 ; thence southerly
along the westerly line of said Inlot, 73 feet 9 inches to the
point of beginning; thence continuing southerly along the
westerly line of Inlot 531, 93 . 7 feet, more or less, to a
;$r point 31 . 3 feet northerly of the southwesterly corner of said
Inlot No. 531; thence easterly 24 feet parallel with the
southerly line of Inlot 531; thence northerly parallel with
the westerly line of Inlot 531, 93 . 7 feet; thence westerly 4`
s
parallel with the northerly line of Inlot 531 24 feet, to the
point of beginning.
TO HAVE AND TO HOLD the same together with all the rights,
immunities, privileges and appurtenances to the same belonging unto
the said party or parties of the Second part, and to its heirs and
assigns, . forever; the said party or parties of the first part
hereby covenanting that said premises are free and clear of any
encumbrances and that said party or parties and the heirs,
executors, and administrators of such party or parties shall and
will warrant and defend the title to the premises, unto the said
party or parties of the second part, and to their heirs and assigns
of such party or parties forever, against the lawful claims of all
persons whomsoever.
IN WITNESS WHEREOF, the said party or parties of the First
Part has or have hereunto set their hand or hands the day and year
first above written. /
s M�aybr h
ATTEST: r
City Clerk
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STATE OF •
COUNTY OF •
On this 3J, ti
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day • �� I �� • ♦ before
me personally appeared Louise Gardner, to me personally known, who,
being by me duly sworn, did say that she is Mayor of the City of
Jef f erson, that . the seal af f ixed to this instrument is the
corporate of said , city, and - said instrument was
Council .signed and sealed in behalf of said city by authority of its City
And - said Louise • - acknowledges • instrument to • - J
the free act IN and deed of said City.TESTIMONY WHEREOF, have hereunto set y hand and affixed 'f
my of f icial seal at my of f ice in the day
and year - written. U 1
NOTARY PUBLIC
My C
term expires
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