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HomeMy WebLinkAbout2022-09-03-R RESOLUTION #aOo?a D! `0S X' A RESOLUTION AUTHORIZING THE PURCHASE OF THE PROPERTY LOCATED AT 1050 OAK STREET WHEREAS, that the City intends to purchase the building and property located at 710 S. St. Louis St. to house a new police department;and WHEREAS, that the property located at 1050 Oak Street is contiguous with the property located at 710 S. St. Louis St. and will be needed for additional parking at the new police department. NOW,THEREFORE BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF BATESVILLE,ARKANSAS SECTION 1: That the City of Batesville hereby authorizes the purchase of 1050 Oak Street, Batesville,Arkansas for the purchase price of$125,000,more or less per the real estate purchase agreement which is attached hereto and incorporated herein by reference. PASSED AND APPROVED this 113' day of September,2022. Rick Elu �, a�yor A EST: Denise Johnston, y Clerk CONTRACT FOR THE SALE OF REAL PROPERTY This Contract of Sale (`Agreement") is made by and between Lewanda Van Pelt, Gary Brown ("Sellers") and the City of Batesville,Arkansas ("Purchaser"). WITNESSETH: In consideration of the mutual promises herein contained, the Sellers agree to sell, and the Purchaser Agrees to buy, in accordance with the terms and conditions of this Agreement,the following real property in Independence County,Arkansas: Lot 3, Block 53, School Addition to the City of Batesville,Arkansas. Commonly Known as: 1050 Oak Street, Batesville,Arkansas 72501 (hereinafter referred to as the "Property") 1. PURCHASE PRICE. The Purchase Price for the Property is $125,000.00, payable at closing. 2. TITLE AND CONVEYANCE. Sellers are to convey title to Purchaser by Warranty Deed.Title shall be good and marketable, subject only to: (a) covenants,conditions,easements,agreements,and restrictions of record; (b) public, private utility easements and roads and right-of ways; (c) applicable zoning ordinances, protective covenants and prior mineral reservations; and (d) real estate taxes for the year 2022,water charges and/or sewer rents, if any, subject to apportionment. 3. CONDITION OF PROPERTY. The Property is being sold as is. Purchaser certifies that Purchaser has personally inspected or will personally inspect, or has had or will have a representative inspect, the Property as fully as Purchaser desires and is not relying upon any warranties, representations or statements of the Sellers regarding the Property, whether or not an existing defect may be reasonably discoverable by Purchaser. 4. CLOSING. The parties agree that the closing shall be at such time as mutually agreed by the parties.The parties intend for closing to be within 90 days from the execution of this Agreement. At closing, Sellers shall deliver to Purchaser a Warranty Deed, executed in proper form for recording, and sufficient to convey title to the Property in accordance with this Agreement. 5. CONTINGENCIES. This Agreement shall not be binding on Purchaser unless and until it is approved by resolution by the Batesville City Council. For purposes of timing of closing, the timeframe laid in Paragraph 4 of this Contract,the 90 days shall not start until it has been approved by the City Council. 6. REAL ESTATE TAXES AND CLOSING COSTS. Any taxes and specials assessments due on or before closing shall be paid by Sellers. Real Estate taxes shall be appointed as of midnight of the day preceding the date of closing. Buyer shall pay ordinary closing costs and bear the cost of an owner's title insurance policy if buyer so chooses to purchase said insurance. 7. NO BROKER OR AGENTS. The parties represent that neither party has employed the services of a real estate agent or broker in connection with the Property,or that if such an agent has been employed,the party employing the agent will pay any and all expenses outside the closing of this Agreement. 8. REPRESENTATIONS. Sellers represent that as of the date of closing there will be no liens,assessments or security interest which will not be satisfied out of the sale proceeds. Sellers represents that the Property may legally be used as zoned and that no government agency has served any notice to seller requiring repairs, alterations, or corrections of any existing condition. Sellers represents that: (a) the Property is not the subject of any judicial or administration notice or action relating to hazardous waste or environmental contamination; (b) Sellers have received no notice of any claim or violation of any law or regulation having to do with environmental protection; (c) no hazardous or toxic substances have been stored,processed, or disposed of on the property during the period that Seller has owned the Property; and (d) no underground storage tanks are located on the Property. 9. AGREEMENT OF PARTIES. This Agreement shall contain the entire understanding and agreement between Sellers and Purchaser with respect to all matters referred to herein and shall supersede all prior or contemporaneous agreements, representations, discussions and understandings, oral or written,with respect to such matters. 10. LEASEHOLD Buyer intends to demolish the structures on Property to build a parking lot. Buyer agrees to allow sellers to maintain possession of property subject to reasonable access by buyer for a period of six months from the execution of this agreement. Sellers shall be liable for said property while in possession, and shall indemnify buyer for any damages or liability that occur while sellers are in possession of Property. 11. MISCELLANEOUS. This Agreement may not be altered, amended, changed, waived, or modified in any way unless the same shall be in writing signed by Seller and Purchaser. This Contract may be executed in duplicate with seller(s) retaining one true counterpart hereof and Buyer retaining the other true counterpart hereof. Duly executed photocopies or facsimiles bearing all signatures of Seller and Buyer shall have the same force and effect as an original. This Agreement shall be governed by laws of the state of Arkansas. The prevailing party in any legal proceeding brought under or with respect to the transaction described in this Agreement is entitled to recover from the non-prevailing party all costs of such proceeding and reasonable attorney's fees. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Time is of the essence in the performance of this Agreement. IN WITNESS WHEREOF, Seller and Purchaser have duly executed this Agreement this_day of .2022. PURCHASER City of Batesville By: Rick Elumbaugh Mayor of Batesville,Arkansas SELLERS Lewanda Van Pelt Address City, State, Zip Gary Brown Address City, State, Zip