HomeMy Public PortalAboutORD10649 BILL NO.
SPONSOR BY COUNCILMAN
ORDINANCE NO. ! 6( Cf 9
AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI , APPROVING THE
TERMS AND CONDITIONS OF A CONTRACT BETWEEN ALBERT L. LINHARDT AND
ROY KIESLING AND THE CITY FOR THE PURCHASE OF REAL ESTATE AND
AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE DOCUMENTS
RELATING TO THAT PURCHASE.
BE IT ENANCTED BY THE CITY COUNCIL OF THE CITY OF JEFFERSON,
MISSOURI, AS FOLLOWS:
Section 1. The City Council hereby approves the terms and
conditions of a written contract , attached hereto as exhibit A,
for the purchase of real estate within the City for the sum of
$200, 000 .
Section 2. The Mayor and Clerk of the City are hereby
authorized to execute any further documents relating to the
purchase of said real estate.
Section 3 . This ordinance shall be in full force and effect
from and after its passage and approval.
Passed �/ IC Hzl, L4 Approved
Pr )din Officer Ma
ATTEST:
City' Clerk
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CONTRACT FOR THE SALE OF REAL ESTATE
This contract made and entered into this 28th day of March, 1986,
by and between Albert L. Linhardt and Roy Kiesling, hereinafter
referred to as Sellers, and the City of Jefferson, Missouri, a
municipal corporation, hereinafter referred to as Buyer:
WITNESSETH:
1. SALE OF PROPERTY: Sellers agree to sell and the Buyer
agrees to buy upon the terms and conditions herein set out
the following described real estate situated in Cole County,
Missouri, to wit: 19.5 Acres in Section 11 Township 44N
Range 11 West within the city limits of Jefferson City,
Missouri. Legal description to be more fully inserted
following completion of a survey. Subject to any
reservations, easements or restrictions of record in any
zoning laws, regulations or ordinances effecting said
property, as will not materially interfere with such use of
the property as the Buyer might reasonably expect to make
in view of the general character of the area and
neighborhood in which the property is located.
2 . PURCHASE PRICE: The purchase price to be paid by the Buyer
is Two Hundred Thousand Dollars ( $200, 000 ) payable as
follows :
Five Thousand Dollars ($5, 000 ) at the time of the
execution and delivery of this contract, the receipt of
which is hereby acknowledged by Sellers and which is
deposited with Gratz Real Estate as Agent for Sellers
as earnest money to be held by Gratz Real Estate and
paid out under the terms and conditions of this
contract ;
Upon closing, One Hundred Thousand Dollars ( $100, 000 )
in cash or by certified check, which includes the
$5 ,000 escrowed, and One Hundred Thousand Dollars
($100,000) to be evidenced by a negotiable purchase
money promissory note in a form approved by Sellers -to
be amoritized in equal annual installments over a
period of three years bearing interest at the rate of
10% per annum and secured by a first deed of trust in a
form approved by Sellers and covering the property
described above. The note shall provide for prepayment
of any amount in One Thousand Dollar ($1, 000 )
increments on any installment date. Any prepayment
shall be without penalty.
3 . ABSTRACT OF TITLE: Seller shall, at least twenty (20 ) days
prior to closing, deliver to Buyer an Abstract of Title to
said property certified to date by a competent abstractor
showing the title marketable in fact to the Seller, and
taxes, assessments , judgments and mechanics liens of record
effecting said property, subject, however, to the exception
qP stated herein. If the Abstract is delivered less than ten
( 10 ) days from the date of closing specified in this
contract, the closing date shall be automatically extended
so as to allow the Buyer ten ( 10 ) days to examine the
Abstract and present written objections to title, if any,
prior to the actual closing. Furthermore, if the
examination of the Abstract reveals any defects , the
specified closing date shall be automatically extended for
ninety (90) days from the date of receipt of the written
objections to title to allow Seller to correct the defects
specified. Any defects appearing in the Abstract and not
objected to, except liens of records which can be removed by
the payment: of money, shall be deemed waived, but only in so
far as correction of the Abstract is concerned. If any of
said defects so noted are not corrected within ninety ( 90)
days after delivery of such objections then this contract
shall be null and void and aforesaid earnest money shall be
returned to the Buyer and the abstract returned to the
Seller.
4 . TITLE INSURANCE: In lieu of the Seller furnishing to Buyer
an Abstract of Title for examination, the Seller may, prior
to closing, 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 in this contract and
shall provide that a policy shall be issued immediately
after the Sellers warranty deed to the Buyer is placed of
record. The cost of said title insurance will be paid for
by the Seller.
5. MARKETABILITY OF TITLE: It is understood that title herein
required to be furnished is marketable title as set forth in
Title Standard 4 of the Missouri Bar. It is also agreed
that any encumberance 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 Sellers ' furnish the affidivits or other
title papers if there are any described in the applicable
standard.
6. WARRANTY DEED: If the title to said real estate is
marketable in fact as called for herein Seller shall deliver
for the Buyer at the office of said Sellers ' agent a general
warranty deed free and clear from all liens and
encumberances whatsoever except as herein provided, the
Buyer shall then and there pay the balance, if any, of said
cash payment and deliver to the Sellers the note and deed of
trust, if any, herein provided for.
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7 . TAXES : 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 delivery of
the deed. If the amount of taxes cannot be ascertained,
proration shall be computed on the amount of general taxes
for the proceeding calendar year. The rental from said
property, if any, shall go to the Seller prorated to date of
delivery of the deed and to the Buyer thereafter. Security
deposits and advanced rents , if any, shall be paid to the
Buyer at closing.
8. LIQUIDATED DAMAGES : It is understood and agreed that if
Sellers have kept the Sellers ' part of this agreement by
furnishing marketable title as herein provided and if the
Buyer fails to comply with the obligations outlined in this
agreement, then the money deposited as earnest money may be
paid over to the Sellers as liquidated damages and this
agreement may or may not thereafter be operative at the
option of the Sellers . That is , Sellers may elect to accept
the earnest money as damages for Buyers breach of this
agreement or pursue other legal remedies, including but not
limited to suit for specific performance or actual damages .
If the aforesaid money deposit is paid over to the Sellers
then it shall be divided equally between the Sellers and the
said named agent for the Sellers provided, however, that the
said agent shall in no event receive any sum of money for
his services greater than the amount agreed to as
commission.
9 . MECHANICS LIEN: On or before the date of closing Sellers
shall furnish to Buyer satisfactory proof that there are no
accounts outstanding for which mechanics liens could be
filed against the above described property. In the
alternative, if title insurance is used the policy shall
insure Buyer against any and all mechanics liens .
10. SURVEYS: Boundaries of the property are to be established
by a survey of the property showing both boundaries , and any
improvements with reference to the boundaries and said
survey shall be included in the abstract of title, if one is
provided. The cost of the survey shall be the responsibility
of Buyer. The cost of including the survey in the abstract
of title shall be borne by Sellers.
Buyer will cause surveys to be made at its expense to
ascertain the presence or absence of environmental hazards
and culturally significant objects .
11. POSSESSION: Absolute and unqualified possession shall be
delivered to the Buyer at the time of closing. Premises
shall be reasonably clean and shall be free of trash and
refuse.
12 . CONTINGENCIES: This contract is contingent upon the
following: a) Buyer obtaining title to an adjoining tract
of ground belonging to Wal-Mart Incorporated. In the event
Buyer has not acquired the land or entered into a valid
FAMEMM
contract by May 1, 1986, this contract shall be null and
void at Buyer' s option.
b) Absence of any environment hazard which would cause the
property to fall within the jurisdiction of the Missouri
Department of National Resources or the Federal
Environmental Protection Agency.
c ) Absence of any items of cultural significance which
would cause any part of the property to come within the
jurisdiction of Department of Natural Resources of the
Federal Historic Register.
In the event this contract is declared to be null and void
all earnest money in escrow shall be returned to Buyer.
13. CLOSING: This sale shall be closed at the offices of the
City of Jefferson in Jefferson City, Missouri, on or before
the 28th day of May, 1986, at which time all monies and
papers shall be delivered, and all other things called for
by this contract at the time of closing shall be done:
provided, if title has not been perfected by said date but
is perfected thereafter during the continuance of this
contract, this sale shall be closed within five (5 ) days
after title has been perfected and improved by the Buyer.
If the Seller continues in possession of the premises beyond
the date of closing the Sellers shall maintain the premises
in the same condition as existed at closing and the Seller
shall be liable to the Buyer for any change in the condition
of the premises occurring during the Sellers occupancy.
14 . COMMISSION: Sellers agree to pay to Gratz Real Estate the
commission agreed upon between Sellers and Gratz Real
Estate, which is six (6% ) per cent of the sales price.
15. PRORATION: Where items are to be prorated the Buyer shall
have the benefit of or be charged with the day of closing as
the case may be; and where significant the actual number of s
days in a particular month shall be taken into account.
16. BENEFIT: This contract shall be binding upon the parties
hereto, their heirs , executors and administrators ,
successors and assigns .
Permission is hereby granted by Sellers and Buyer for Gratz Real
Estate to provide sales data information on this transaction,
including selling price and property address, to the local board
of realtors, its members, members prospects, appraisors and other
professional users of real estate sales data.
�X.5"e ee t'-" 'e'-� rIA66111>4-4�/ 0 06,01
B. ALLEN GARNER, C TY COUNSELOR BERT L. LINHARDT
PTM-.9:aBATES, OF ROY K ESL G
PUBLIC WORKS
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RECORDS
CERTIFICATION
I, the undersigned, an employee of Custom Imaging Service, L.L.C. do
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accumulated during the regular business, and that it is the established policy
and practice of this company to microfilm it's records for permanent file and
to dispose of the original records after microfilm reproductions have been
made and assigned to the company files.
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TA,RGET
COUNTY:.-- COLE
OFFICE; CITY OF JEFFERSON
TITLE OF RECORD: ORDINANCES
ARRANGEMENT: 14UMERic
K (DLL
NUMbER
RECORDS
CERTIFICATION
I, the undersigned, an employee of Custom Imaging Service, L.L.C. do
hereby certify that the microfUm images on this reel of microfilm (Reel
No. � } are complete and accurate reproductions of the
original records of w city of Jefferson as
accumulated during the regular business, and that it is the established policy
and practice of this company to iicrofilm it's records for permanent file and
to dispose of the original records after microfilm reproductions have been
crude and assigned to the company files.
Nance
.Tide � Date
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Title Date .
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