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HomeMy Public PortalAboutResolutions_22-22_6/13/2022 CD Yu) RESOLUTION NO.22-22 RESOLUTION APPROVING PROPOSED PURCHASE OF THE MARCUS GOLF COURSE WHEREAS, on this date a Public Hearing was held concerning the advisability of purchasing real estate known as the Marcus Golf Course; and WHEREAS, the City Council and the Marcus Community Golf Club, Inc. have determined a course of action to ensure the long-standing availability of a golf course to the Marcus community; and WHEREAS, in determining the best course of action it desires to purchase certain real estate where the golf course is located and will invest in major capital improvements to the premises; and WHEREAS,the City has determined that a fair market value for the purchase of the premises is $1.00 due to the necessity of capital improvements,has deemed it necessary for public use as a municipal golf course; WHEREAS, a resolution by the City Council is required in order for the City of Marcus, Iowa to accept a Warranty Deed on said premises. NOW,THEREFORE,BE IT RESOLVED,the City Council of the City of Marcus Iowa hereby authorizes the approval of the enclosed real estate contract and agrees to purchase the following described real estate from the Marcus Community Golf Club,Inc. for$1.00 pursuant to the terms and conditions therein: A tract of land in the S1/2 SE1/4 of Section 4,Township 92 North,Range 42 West of the 5th1 P.M.,more completely described as follows: Commencing at the south quarter corner of said Sec.4; thence north 0°21' east along the south quarter line of said Sec.4 sixty feet to a point on the north right-of-way line of Iowa State Highways 3 and 5,being the point of beginning; thence north 0°21' east along the south quarter line of said Sec.41,266.4 feet to a point on the south eighth line of said Sec.4; thence north 89° 30' east along the south eighth line of said Sec.4 2,609.3 feet to a point on the west right-of-way line of Iowa State Highway 143; thence due south along the west right-of-way line of Iowa State Highway 143 parallel to and 50 feet west of the east line of said Sec.4 310.0 feet; thence south 79° 27';west 597.0 feet; thence south 28° 12' west 372.0 feet; thence south 19° 14'west 564.5 feet to a point on the north right-of-way line of Iowa State Highways 3 and 5; thence south 89° 42'west along the north right-of way line of Iowa State Highways 3 and 5,parallel to and 60.0 feet north of the south line of said Sec.4 1,668.3 feet to the point of beginning,containing 60.0 acres,more or less. The east line of said Sec.4 is assumed to run due south; PASSED AND APPROVED this 13t1i day of June,2022. 4e/ 0(-7 Patrick J. Bunt, _ayor ATTEST: UNI0i/Y1 a H---otweit City Clerk-Treasurer ENCLOSURE: Real estate contract. 1 REAL ESTATE CONTRACT (SHORT FORM) Recorder's Cover Sheet Preparer Information: Alyssa A. Herbold, 427 W. Main St. P.O. Box 100, Cherokee, IA 51012,Phone: 7122253143 Taxpayer Information: Return Document To: Alyssa A. Herbold, 427 W. Main St. P.O. Box 100, Cherokee, IA 51012 Grantors: Marcus Community Golf Club, Inc. Grantees: City of Marcus, Iowa Legal Description: See Page 2 Document or instrument number of previously recorded documents: ©The Iowa State Bar Association 2021 Form No.143,Real Estate Contract IowaDocs© Revised August 2017 2 2 rtr ;r�rL¢ 71 REAL ESTATE CONTRACT • • (SHORT FORM) s3s IT IS AGREED between Marcus Community Golf Club, Inc., an Iowa Corporation ("Sellers"); and City of Marcus, Iowa, an Iowa Municipal Corporation ("Buyers"). Sellers agree to sell and Buyers agree to buy real estate in Cherokee County, Iowa, described as: See 1 in Addendum. with any easements and appurtenant servient estates,but subject to the following: a. any zoning and other ordinances; b. any covenants of record; c. any easements of record for public utilities,roads and highways; and d. (consider: liens;mineral rights; other easements;interest of others.) (the"Real Estate"),upon the following terms: 1. PRICE. The total purchase price for the Real Estate is ONE and 0/100 Dollars ($1.00) of which Zero Dollars ($0.00)has been paid.Buyers shall pay the balance to Sellers at Marcus, Iowa or as directed by Sellers, as follows: Entire balance due upon delivery of abstract showing merchantable title and Corporate Warranty Deed. 27 INTEREST. Buyers shall pay interest from on the unpaid balance, at the rate of 7.0 percent per annum,payable . Buycra shall also pay interest at the rate of percent per 3. REAL ESTATE TAXES. Buyers shall pay all subsequent real estate taxes. Any proration of real estate taxes on the Real Estate shall be based upon such taxes for the year currently payable unless the parties state otherwise. The parties agree that no proration will be exchanged at closing. The Sellers shall pay said real estate taxes upon certification. This provision shall survive closing. The Sellers shall pay 5/6 and the Buyers shall pay 1/6 of the property taxes for fiscal year 2021-2022. 4. SPECIAL ASSESSMENTS. Sellers shall pay all special assessments which are a lien on the Real Estate as of the date of this contract. All other special assessments shall be paid by Buyers. 5. POSSESSION CLOSING. Sellers shall give Buyers possession of the Real Estate on Closing,provided Buyers are not in default under this contract. 6. INSURANCE. Sellers shall maintain existing insurance upon the Real Estate until the date of possession. Buyers shall accept insurance proceeds instead of Sellers replacing or repairing damaged improvements. After possession and until full payment of the purchase price, Buyers shall keep the improvements on the Real Estate insured against loss by fire,tornado, and extended coverage for a sum not less than 80 percent of full insurable value payable to the Sellers and Buyers as their interests may appear. Buyers shall provide Sellers with evidence of such insurance. 7. ABSTRACT AND TITLE. Sellers have delivered an abstract of title to Buyers. ©The Iowa State Bar Association 2021 Form No.143,Real Estate Contract IowaDocs® Revised August 2017 3 Buyers, at their expense, shall promptly continue the Abstract of Title through the date of this contract. It shall show merchantable title in Sellers in conformity with this contract, Iowa law and the Title Standards of the Iowa State Bar Association. The abstract shall become the property of the Buyers when the purchase price is paid in full,however, Buyers reserve the right to occasionally use the abstract prior to full payment of the purchase price. Sellers shall pay the costs of any additional abstracting and title work due to any act or omission of Sellers,including transfers by or the death of Sellers or their assignees. 8. FIXTURES. All property that integrally belongs to or is part of the Real Estate, whether attached or detached, such as light fixtures, shades,rods,blinds, awnings, windows, storm doors, screens,plumbing fixtures,water heaters,water softeners, automatic heating equipment, air conditioning equipment,wall to wall carpeting,built-in items and electrical service cable, outside television towers and antenna, fencing, gates and landscaping shall be considered a part of Real Estate and included in the sale except: (consider: rental items.) 9. CARE OF PROPERTY. Buyers shall take good care of the property; shall keep the buildings and other improvements now or later placed on the Real Estate in good and reasonable repair and shall not injure, destroy or remove the property during the term of this contract. Buyers shall not make any material alteration to the Real Estate without the written consent of the Sellers. 10. DEED. Upon payment of purchase price, Sellers shall convey the Real Estate to Buyers or their assignees,by Quit Claim Deed, free and clear of all liens,restrictions, and encumbrances except as provided herein.Any general warranties of title shall extend only to the date of this contract,with special warranties as to acts of Sellers continuing up to time of delivery of the deed. 11. REMEDIES OF THE PARTIES. a. If Buyers (a) fail to make the payments aforesaid, or any part thereof, as same become due; or(b) fail to pay the taxes or special assessments or charges, or any part thereof, levied upon said property, or assessed against it,by any taxing body before any of such items become delinquent; or(c) fail to keep the property insured; or(d) fail to keep it in reasonable repair as herein required; or(e) fail to perform any of the agreements as herein made or required;then Sellers, in addition to any and all other legal and equitable remedies which they may have, at their option,may proceed to forfeit and cancel this contract as provided by law (Chapter 656 Code of Iowa). Upon completion of such forfeiture Buyers shall have no right of reclamation or compensation for money paid, or improvements made;but such payments and/or improvements if any shall be retained and kept by Sellers as compensation for the use of said property, and/or as liquidated damages for breach of this contract; and upon completion of such forfeiture, if the Buyers, or any other person or persons shall be in possession of said real estate or any part thereof, such party or parties in possession shall at once peacefully remove therefrom, or failing to do so may be treated as tenants holding over,unlawfully after the expiration of lease, and may accordingly be ousted and removed as such as provided by law. b. If Buyers fail to timely perform this contract, Sellers, at their option,may elect to declare the entire balance immediately due and payable after such notice,if any, ©Tlie Iowa State Bar Association 2021 Form No.143,Real Estate Contract IowaDocs® Revised August 2017 4 as may be required by Chapter 654,The Code. Thereafter this contract may be foreclosed in equity and the court may appoint a receiver to take immediate possession of the property and of the revenues and income accruing therefrom and to rent or cultivate the same as the receiver may deem best for the interest of all parties concerned, and such receiver shall be liable to account to Buyers only for the net profits, after application of rents,issues and profits from the costs and expenses of the receivership and foreclosure and upon the contract obligation. It is agreed that if this contract covers less than ten(10) acres of land, and in the event of the foreclosure of this contract and sale of the property by sheriffs sale in such foreclosure proceedings,the time of one year for redemption from said sale provided by the statutes of the State of Iowa shall be reduced to six(6) months provided the Sellers, in such action file an election to waive any deficiency judgment against Buyers which may arise out of the foreclosure proceedings; all to be consistent with the provisions of Chapter 628 of the Iowa Code. If the redemption period is so reduced, for the first three(3)months after sale such right of redemption shall be exclusive to the Buyers, and the time periods in Sections 628.5, 628.15 and 628.16 of the Iowa Code shall be reduced to four(4)months. It is further agreed that the period of redemption after a foreclosure of this contract shall be reduced to sixty(60) days if all of the three following contingencies develop: (1)The real estate is less than ten(10) acres in size; (2) the Court finds affirmatively that the said real estate has been abandoned by the owners and those persons personally liable under this contract at the time of such foreclosure; and(3) Sellers in such action file an election to waive any deficiency judgment against Buyers or their successor in interest in such action. If the redemption period is so reduced,Buyers or their successors in interest or the owner shall have the exclusive right to redeem for the first thirty(30) days after such sale, and the time provided for redemption by creditors as provided in Sections 628.5, 628.15 and 628.16 of the Iowa Code shall be reduced to forty(40) days. Entry of appearance by pleading or docket entry by or on behalf of Buyers shall be presumption that the property is not abandoned. Any such redemption period shall be consistent with all of the provisions of Chapter 628 of the Iowa Code. This paragraph shall not be construed to limit or otherwise affect any other redemption provisions contained in Chapter 628 of the Iowa Code. Upon completion of such forfeiture Buyers shall have no right of reclamation or compensation for money paid, or improvements made;but such payments and for improvements if any shall be retained and kept by Sellers as compensation for the use of said property, and/or as liquidated damages for breach of this contract; and upon completion of such forfeiture, if Buyers, or any other person or persons shall be in possession of said real estate or any part thereof, such party or parties in possession shall at once peacefully remove therefrom, or failing to do so may be treated as tenants holding over,unlawfully after the expiration of a lease, and may accordingly be ousted and removed as such as provided by law. c. If Sellers fail to timely perform their obligations under this contract,Buyers shall have the right to terminate this contract and have all payments made returned to them. ©The Iowa State Bar Association 2021 Form No.143,Real Estate Contract IowaDocs® Revised August 2017 5 d. Buyers and Sellers are also entitled to utilize any and all other remedies or actions at law or in equity available to them. e. In any action or proceeding relating to this contract the successful party shall be entitled to receive reasonable attorney's fees and costs as permitted by law. 12. JOINT TENANCY IN PROCEEDS AND IN REAL ESTATE. If Sellers, immediately preceding this contract,hold title to the Real Estate in joint tenancy with full right of survivorship, and the joint tenancy is not later destroyed by operation of law or by acts of Sellers, then the proceeds of this sale, and any continuing or recaptured rights of Sellers in the Real Estate, shall belong to Sellers as joint tenants with full right of survivorship and not as tenants in common; and Buyers,in the event of the death of either Seller, agree to pay any balance of the price due Sellers under this contract to the surviving Seller and to accept a deed from the surviving Seller consistent with paragraph 10. 13. JOINDER BY SELLER'S SPOUSE. Seller's spouse, if not a titleholder immediately preceding acceptance of this offer, executes this contract only for the purpose of relinquishing all rights of dower,homestead and distributive shares or in compliance with Section 561.13 of the Iowa Code and agrees to execute the deed for this purpose. 14. TIME IS OF THE ESSENCE. Time is of the essence in this contract. 15. PERSONAL PROPERTY. If this contract includes the sale of any personal property, Buyers grant the Sellers a security interest in the personal property and Buyers shall execute the necessary financing statements and deliver them to Sellers. 16. CONSTRUCTION. Words and phrases in this contract shall be construed as in the singular or plural number, and as masculine, feminine or neuter gender, according to the context. 17. RELEASE OF RIGHTS. Each of the Seller hereby relinquishes all rights of dower, homestead and distributive share in and to the property and waives all rights of exemption as to any of the property. 18. CERTIFICATION. Buyers and Sellers each certify that they are not acting, directly or indirectly, for or on behalf of any person, group, entity or nation named by any Executive Order or the United States Treasury Department as a terrorist, "Specially Designated National and Blocked Person"or any other banned or blocked person, entity,nation or transaction pursuant to any law, order,rule or regulation that is enforced or administered by the Office of Foreign Assets Control; and are not engaged in this transaction, directly or indirectly on behalf of, any such person, group, entity or nation. Each party hereby agrees to defend, indemnify and hold harmless the other party from and against any and all claims, damages, losses,risks, liabilities and expenses (including attorney's fees and costs) arising from or related to my breach of the foregoing certification. 19. INSPECTION OF PRIVATE SEWAGE DISPOSAL SYSTEM. Seller represents and warrants to Buyer that the Property is not served by a private sewage disposal system, and there are no known private sewage disposal systems on the property. 20. ADDITIONAL PROVISIONS. a.) This property is sold AS-IS,WHERE-IS,with no warranties of any kind. ©The Iowa State Bar Association 2021 Form No.143,Real Estate Contract IowaDocs® Revised August 2017 6 Dated: i ( � aa— . • MARCUS COMMUNITY GOLF CITY OF MARCUS, IOWA(BUYER) CLUB, INC. (SELLER) --//1A.S71/7 /41 Conrad Ebert,President Patrick Bunt,Mayor 8,4 Ginell Wetter, Secretary Attest: Robin A. Harvey, City Clerk STATE OF IOWA, COUNTY OF CHEROKEE: I I This record was acknowledged before me on l t q L ,by Conrad Ebert as President, and Ginell Wetter, as Secretary of Marcus Community Golf Club, Inc., an Iowa Corporation. t93ROBIN HARVEY o� Commission Number 817636 u,���/ � /y Z "?1 My Commission expires ( (� • """` • June 25,2025 IOWA Signature of Notary Public STATE OF IOWA, COUNTY OF CHEROKEE: This record was acknowledged before me on CQ aC 0-(sa�. ,by Patrick Bunt as Mayor and Robin A. Harvey as City Clerk, of e ity of Marcus, Iowa, an Iowa Municipal Corporation. Signature of Notary Public ' `s BRlAN FLN(EID ° Commission Number 838076 • d�Cp • My Commission expires 1owp March 14,2025 ©The Iowa State Bar Association 2021 Form No.143,Real Estate Contract IowaDocs® Revised August 2017