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Home My Public Portal Aboutr 97:370No. 97-370 Date of Adoption~1997 RESOLUTION ESTABLISHING TERMS OF SALE OF PROPERTY AUTHORIZED FOR LAND SALE BY ORDINANCE #97-28 WHEREAS, by Ordinance No. 97-28 the Mayor and Borough Council of the Borough of Carteret (the "Borough") authorized the open public sale at auction of real property; and WHEREAS, the Local Land and Building Law, NJ.S.A. 40A:12-1 et seq., authorizes a governing body to impose reasonable terms and conditions for the solicitation of Bids for the sale o£real property; and WHEREAS, the Borough Attorney has recommended that certain Terms of Sale which are annexed hereto included as part of the solicitation of Bids in order to reduce the costs o£this sale to the Borough and protect the Borough's vital interests. NOW, THEREFORE, BE IT RESOLVED by the Mayor and Borough Council of the Borough of Carteret that the Terms of Sale annexed hereto be included as part of the conditions of the Solicitation of Bids of the sale of real property authorized by Ordinance No~ 97-28. Adopted this 4th day of December, 1997 and certified as a true copy of the original on December 5, 1997. KATHLEEN M. BARNEY, Municipal Clerk RECORD OF COUNCIL VOTE COUNCILMAN YES NO NV A.B. COUNCILMAN YES NO NV A.B.- BIALOWARCZUK x FAZEKAS x DuPONT x FEINGOLD x FAILACE x GUTOWSKI x X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Vel() sj Adopted at a meeting of the Mtmicipal Council ___December 4, 1997 CL[RK TERMS OF SALE OPEN PUBLIC SALE AT AUCTION PRIVATE SALE TO CONTIGUOUS OWNER The following terms and conditions of sale shall apply to the open public sale at auction of real property authorized for sale by Ordinance 97-28: 1.) OPEN PUBLIC SALE: The approximate location of the nearest street or right-of-way; the tax map reference, the approximate size of the property, special conditions which may affect the property, and the minimum price for the property are listed as follows: a) Nearest Street/KO.W. : Roosevelt Avenue Tax Map Reference : Block 5.1, Lots 1.2 Special Site Conditions : May contain wetlands Approximate Size : 14.578 + 1 acres Minimum Price : $450,000.00 2.) The following terms shall apply to all sales: Sale of property shall be for cash or certified check upon the following terms: A. A deposit of 10% of the purchase price as set forth above is required of all bidders by certified check or cash at the time of acceptance of bid. In addition to the purchase price, a successful bidder, on the Public Sale (only), if any, will be required to pay the sum of $650.00 for closing and legal fees to Craig J. Coughlin, Borough Attorney, and $100.00 to the Borough of Carteret for advertising costs. B. Balance of purchase price by successful bidder, if any, must be tendered at the closing of title to occur within 45 days of the receipt of bids and acceptance of the highest hid by the Borough Council of the subject property. The balance of purchase price shall be by certified check or cash, at which time a bargain and sale deed will be delivered. Delivery of the deed will he made at the office of Craig J. Coughlin, Esq., 207 South Stevens Avenue, South Amboy, New Jersey 08879, between the hours of 10:00 A.M. and 4:00 P.M.. The time to close may be extended by the Borough Council or Borough Attorney for good cause. C. The Borough reserves the right to reject any and all bids and to adjourn such sale as permitted by law. Except as hereinafter specifically stated, the property will be sold subject to all easements of record, all statutes, ordinances and regulations governing the said land and the sale and use thereof, as well as such facts as an accurate survey may disclose. The Borough will not assume any responsibility whatsoever for opening streets or furnishing utilities which may be required to develop the property. D. The Borough makes no representation as to whether said property is located in a flood zone, wetland area or whether said property will require a variance in order to build a structure on said property. All property is to be sold "As Is". All bidders are requested to investigate the property prior to offering any bids since it shall be determined that a bidder shall have a full knowledge of all conditions that may affect the property at the time of submission of his bid. Sales are not contingent upon the happening of any event unless specified herein. E The Borough strongly advises all prospective bidders to become fully familiar with the properties prior to submission of a bid. F. In the event that the successful bidder seeks to develop the property, the successful bidder shall be solely responsible for completion of or extension of streets, sidewalks, curbs, utilities, etc., associated with said development. Unless othev~vise required by law, regulation or ordinance, any successful bidder seeking reimbursement for any "off-tract" improvement which may be required must submit the request for reimbursement to the Borough, in writing, prior to the date of issuance of any building permits. Failure to fully comply with this condition shall result in a waiver by the successful bidder, the successors or assigns. G In the event of the acceptance of any bid submitted at any such public sale and award of sale of property in accordance therewith, the Borough of Carteret shall not be liable or accountable for any damages or losses sustained by said bidder by reason of its ability or inability to convey to such bidder a marketable and insurable title and/or to comply with the conditions of the bid. Upon the happening of any event which may prevent the ability to convey marketable and insurable title, then in such event there shall be no claim which may be asserted against the Borough against the Borough of Carteret by any bidder for damages of any kind, except that the said bidder shall be entitled to the return of the deposit. H. All deposits made by successful bidder or bidders will be retained by the Borough as liquidated damages in the event that the bidder fails to complete the purchase in accordance with the terms of the sale. I. The Borough further indicates that the properties herein may have water or sewer lines running through the property which may be the subject of an easement to be retained by the Borough of Carteret at the time of the sale. All information concerning the existence or non-existence of water and sewer lines or future water lines to be retained by the Borough may be obtained from the Borough's Water and Sewer Department, the Borough's Tax Assessor, or from the Borough Engineer. 3. The open Public Auction sale of real property will be held December 30, 1997, at 6:00 P.M., prevailing time, in the Municipal Court Building, 230 Roosevelt Avenue, Carteret, New Jersey. Ail bids and offers to purchase in accordance with the terms set forth herein shall be reviewed, approved or rejected following the date of the sale at a public meeting of the Borough Council of the Borough of Carteret. 4. This resolution shall be published in accordance with the "Local Lands and Building Law", NJ. SA. 40A:12-13 (a). NOTICE OF SALE OF BOROUGH OF CARTERET PROPERTY The Borough of Carteret will offer at public and private sale to the highest bidder on Tuesday evening, December 30, 1997 at 6:00 P.M., prevailing time, or at any time to which such meeting shall from time to time be adjourned, in the Municipal Court, 230 Roosevelt Avenue, Carteret, New Jersey, all its rights, title and interest of, in and to the following described parcels of land located in the Borough of Carteret, New Jersey, identified on the Borough Tax Map by the following block and lot numbers: PUBLIC SALE: LOCATION BLOCK LOT MINIMUM PRICE Roosevelt Avenue 5.1 1-2 $450,000.00