HomeMy WebLinkAbout34139 / 86-338October 16, 1986 #338 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN
PURPOSE: APPROVE OFFER TO PURCHASE - MONDL'S
INITIATED BY: CITY ADMINISTRATION
BE IT RESOLVED by the Common Council of the City of Oshkosh
that the attached Offer to Purchase is hereby approved and that the
proper City officials are hereby authorized and directed to execute
same. Money for this purpose will be available from Parking
Utility funds.
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APPRO'JED -._------�° ---
J
11N-IS Cnmmcd�_J OVer 1e Pmchqtt
. �ppm�eJ bc�Le \1'izaouvm Uepim�nnrt of Reyulutlun vnd Liecnsinµ
S.IA2
. �
COM1IMLRCIAL OY'FER 7'O PURCIIAtiF:
Knconsln Ieµ:J bl�,mk la_ lu..
MII�u�4ce, WIs.
RESOLUTION # 338
� Ostilcosh. , wrsronsin .........................00,tober........... Ivg6.
...................................................
2 Thc undcrsiBncd Buyer.'. CITY OF OSHKOSIi�, a,hluniciY.a�..CAFrVx�7k10P ...........................................
............ A
J haeby ullers m pu¢hase the pmperty known as (titrerl AAdress) ..��`7��2.3. ix;i- I. FiV211U2 ...................................... .
d in Ihc ......CitY ............. of ..........OSIilc,5V�1........... Cuumy o( ...'......... W1iWPbd90................. Wiscanxin.
5 �e ��I��in�h�d««In�d,��?R� F'iye,(5).,.$iK.(6�,.,�.td7e.k�15tex1y..29..fe.et.QF..the.NOrtherly.128...5.
m�r
�, fee„of.I.ot.lwepty-six,.(?6J..,a,nd, u,e.Fast..3Q..Ee�t=.RP.fi.Ue..SVUth.4.4.feet.of..i�at.�lWenty-six.125)
� �nL,M nur��s.rii�s�r.w�iiiov,u�..4�ock..'iWa?�kY...(ZV)...E;iehth..Wazd...CitY.of.DSkilcosh .............
K Wirv�ebago County� Wisco�tsin,,,,,,
.................................................................................
, 9 Jbt�1¢peaftabaulc ..............................X�............................ faet.at�he Price of
w tn�e..aunazaa.lrtu.rtr.-trto.a7�ousana.k.'our.ltw�aced.s.NVL1vp..-.r..r...-.._.-...-.._.-..-...-.-.-..- - -..-.._.-...-
i l Dnllars �E�3Z�'IP.Q.D.O-...-. -.) and on the tcrms and conditions as tollows�.
12 %imm�@c1maN�: ................ .............. wcx�otE�a'u�OC ..............
U .................... ............................. ...... t�%�vt.. _ .......Jtlu�[m�ot�aXm%.........
�d un�3er, texnc, a�?cl,conciitious. as, set„forUi,txlow.,.,,,,.,,_ ��b,�,��-.��Ky��e���y��
IS 3(yW%A{fpppSllRFW{KWAXA;bRpd'Cptq]1�S65�S16C1SA�'
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l IMP. IS OP 7'HF HSSY_uCE AS lO:b4T1�42t10A^d@�S3C LEGAL P095ESSION, OCNI'ANCI', A�'D
D 1 I h' UP ('LOSINQ (Sirike Ihosc nol nppGcublc.)
11115 111!TLH'ti OIILIGAI'IUN'IO IONCLUUE l HIS l NANSAC110N IS CONDIIIONGD UPON l H[' CONSUMMA'fION OF'I IIE
1'OI.1.0R'IN(i�. � .
(I[ iLis uflcr Is mhjcci m Onvncing, or any oihcr cuntlngency, i� mus� be s�aied hcrc. If mne, so slela-)
'fl�e, purchase,price of.�ne,hundeeci,'I'hirty-two,Thousaiiq.Y:our H�u7dred, Dollars„($,1.32,900.,�,0,),,,,,
shall be kaid 6y the City of Oslilcosl}, to IdJ131:Ia' t4 OI:1I.EIN� the Seller iuider the folla�ing„
. . .. .. ........ .... ...... ......... ........
tezxc�s and coc�ditions: ' �
............................................................................................................................
„ A. Interest only duriny the first,five (5) years after,�the,date of the closing, of,Yhis
� this transaction� said interest to be,yaid at the�rate of six�,percent (62) per,annum,.
on an annual basis ca�umncinq one (1.� k�ear from tiie, anniversary of the clos,uig of �he
transaction and continuin tlurou h Uie fifth (Sth) year of,this tezm �� � ����
.
..,B. Camencing_on the„si�ctli (GUi).,anruversary of the„closing,of,tl}is transaction,,,thG,(:ity
.. . . .. . ...
of Oshkosh,shall.pay;I�k3LR1 M.,OE.FL,EIN,T}�irtee�,Th�usand ;R90 Hundred Fqxty,pp�,7„�s„_„
,,,,,,.,($13�240..00) ��e;,year to,t�e,applied,on.the,principal balance„q€..Ghe.��t..dU�, k'h1C11..
pavRents, si,ati cont�nue on.an,annual.basis fqr, t�,..(�4)..v�?rs.unti,l.the.entize..eucchase
........ Price, is, paid, iq. fui.l . .......................... �................... _ ............................. _ ........
C.,,, Interest shall be Xaid on the unpaid principal balance, �3ue,by,tt}e.City.of,OSt,ilc,qg��,tq„
,,.,,,., 13�Hf8f„M,.,,OLILEIN at the .u7te;est rat,e„of,six,p�XC?stt, (6$)„pe;,dn¢p[p,cjt,tr,i,p9_tjlG.kfR-...
,year tern� for payne��t of �ric�cipal, each sucti,pay�ixn,t of,}r�te�st..tq,}�,�-„��,On.Uie....
sane date as the paynient of,�rincip�l, as, s* fortli.i.q.spl�p,a.rd9LdPh.$,..�7bRY�.,..atld........
........ contmuing during, the ren�ining. teXqi, of, t17e..4t.�}9.dk7-.W, ... ..... . .:.......teilRS..dDd
D.,,,;1'he transaction.s1�a11,be,evi,d,ence5i,by,a,p.zqR}i„sSqXy,Slq�e„��d,Mortqage.in�r�q;,a,tit;g tt�e/
, conditions set fort2i ahove., The Nnrtgage,�sj�all,p;l,��}ge..t�,i�..�ipy�-a�5G.C1L�d.NrG�iS.ES....
.. .. . . .. . ... .
..,.,_,, a5, collateral for the payme��t of.'tlie Piomissory Note. � ��
................................................
............................................................:.... ... .................................
The Se11er� F�BF'RI' M. OlIT,EIN, consents to U�e dertolition of buildiny �rove�rents � on� the ���
described yiemises duriny .Uie tetm of said Note arid Mortyaqe.so.,as..to enable the City,oE��*��
. ......... ... .......... . .....
,�A1:LC CG�@iY.>iN.:) W af MOO[i9[
�a�uo��w..m....v..rwv ��
49 ]LY. � .X%Z8X ........................:......................�...............................
So .*.9slilcosh to„e.vnyert, sai�. prenuses, for parking, p,�rses, or such other, municipal piuyoses as
5i the,City of, Oshkosh sliall detex=wie ,,, �
... .. .... .... .. .. ... .. ......... ... .. ....... .......
52 ............................................................................................................................
St............................................................................................................................
SJ .........................................':uik'ti.iiti�i.xi`.`__.. �"
)5 1�wnitteucetru�xyrc .........................................................................................................
56 ..........................................................................................
tl............................................................................................................................
SN............................................................................................................ .
SY ticllershall.uponpaymentolthepurehasepricqcunvey�hercalproperiyhywarrantydeed,ormhcrrnnvcrancepmvldedhcr<In,lreeand
M/ dcarofallliensandencumbmnces,exceptiny�municipalanJzoningordinances,rerordedeasememsforpublicutilitics,remrJedbuildinganJuse
GI resvictlms and mvenams, gencraltaxeslevicd in year ofclosing and ................................................................
62 ........................ _......................... _........................ . PmvideJ nonc of�helorcgoing pmhibit present uxe.
41 Lcgai pussessmn uf prupaty shall be delivered lo liuyer on dam uf closmg.
M Itis unJcrswoJ thc prol�crtY is noa ea[nrll�yyc .VdCdllt. ..................................................................
65 pl�y^��vp6t%Yylpj361C1±p1TRUIX•41UC ................................................... . .
...........� ...............'...
66 ............................................................................................................................
61 (' �cupancy of ...... []IPlU15B5........ shall be givrn to Nuyer on .. fI12, ddT.2,Of, C105]11g ..............................
6P�.ml ' t9c ...................................
6Y 71Rp6h1o5K1£Glamtx,..... _ ...................................................................................................�
7U MKItElMkaONNCO([�9�.9C ..................... �
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�J Ttus offer sliall be msde lip ttie Duyer and acmyted by the Seller on or befpKy.Q,CIPOgGA.?2,
�5 1986... .................... ....
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RESOLUTION # 338
"/] Ifthiso((erisaccep�ed,i�shallno�becnmebindingnponfluycruntilcopynfaccep�eaofferisJeposi�ed,pos�ngeprepxid,in�heUniie�ISinms
�s ma�is.add��r::m��Auy.ra�.?,1.5.�!UT:GIt..StF2.E'.ki.Q3I�4?1)r.W1...S490.� ................................................
]9 ............................................................................................... . nr hy pcnonal Aclivcryih<mnl.
NO Thisrcansanionismheclnsed ,.in.thE,pYf1L2.Of..the.Clty.Managei�
xi CatX .o.£ .OahkQSh�.:....... ..........:...:..�....::...:...:.....:..,:. .......:�...�.....:........................, o� �, n�r�,�
X2 .....'....�4'COk1Ei..3],h. J.966. ,�.�." :...:.:...::. �.. ,�... �r nt such other timc enA place n� m0Y hc e6rttd in wriiing hy Huyer end Shcer.
A3 Seller uarrants and repmscnls io Duyer �ha1 the prnper�y is nm InvnlcA in a Ilood plain, u per ..L'Plood_Pldl,n,(✓ap$,}OGat�.,,
qq ,i,n„the.o.��}ce.O�..khe.W).nn.�qd90..C4unty,ZPniRg.RffzCe.,..4U,nnCbago..COUnty.Couctbouse.,..OSlikqSh,
85 Shccr wa�'ran�s nnd represenis In Iluycr Ihut Sc1lcr hax nn nollcc or knowledgc n(any: Wj,
Xfi (e)pianned m commenced puAlic improvcmem which may reenit in special xsvessmems or olherwise mamrially ef(ca tlm pmpeny.
87 �h�gnvernmem ngency m co�vt order reyuiring repaiq eheralion or corra�iun ol uny exis�in6 rondilion.
AR �c�siruc�urnlormechonicalde[ectnfma�.nalsignifcuncein�mperty,IncluAinginnAcyuaeyfornormnluseofmcchanicalsysmmx,sanitery
A9 dispoenl rystcmv nnA xrll, anJ ��n.vn(e well wwer aanrAin6 �o va�e s�nmtxrds.
9� FXCfPTiONSTOWARkANTIf.SAVDRBPRF.SENTATIONSSTAT�DINLINESfliTOR9: .IR V1EYJ Of the BuY2L�5
.................
y� intent, to, de�mlish the building i�rq�rovenents on tlie descrihed premises, the Buyer waives all
qi warranties as set fortli on L.vies 85 tlirough II9, a6ove
....... .. . ........ . . . . ....... .... .. .....................
97 ................:.............._....................,.,..........................................�.............................
9A................................................................................:...............................................
95 Imaut, rents, water anA'sewer use chnrgcs, propetty owners assnciation assnsmrota, end unused fuek shell be proramd as of Ihe dale o(
9fi dn.inn �ccrueJ inc�me and zxprnaex. incluJlne iuxu �ur �hcJUy n( clnzing. shull accme m iLe tidler.
9"I Gemraltaxcsshallbspmra�e���nhcdmeofdosingM�cMnn�lmnc�grncral�axeslnn6enirtemyenqiCknown,o�hcrwiseonihenngeneral
9X �aaes fnr iLc preccdiny yeur. Penunal pmpeny mres shnll he pmr mJ ae lulio�ce' . .....................................................
99 ............................................................................................................................
100 CAIITION:Ifp�operiyhasmtbeen(ullyessessedfunexpurposcs,ormnsussmcmiscnmplc�eAorprnding,mxpmra�ionshullbennlhehuslsnf
IOI 5... _:..�:-.�..:...... 1....' estimattd annnal tax. Make speciai ngreemem if nrca nssessmcnt(s) is/are cnnmmplamd and,'nr properry nwncrs
102 assnna�ion hns assesseJ nr may nssess.
I07 tipecialnssessmen�s,ilxny,Inrwnrkonsi�eacuiallycommenccAnrlevicAprionodaten(�hisoffershn116epai46ytiNIcr.Allolherspecial
10� assessmrnts, induJing nny eoniemplamJ speciul aa�essmcnu, shoil be puiJ hy 1luyer.
105 Sellershoil(umishendddivertolinyer(otexamina�imn�leastlSdnysprio��o�hedatese�lorciosing,Seller'schoiao(d�hee
Iofi L AcomplemeM1SVnoto(ti�Iemadebym�absiructcompany,extendeAiowithln30doyauf�heelusing,miAebstcactloxhow5e11erYtiilembc
10] ,markewbleandin�h<con�litionenlleJlorM1y�hisagrc:mm��,encepiformorlgnges,judgmenuoro�herlien.whlchwillhesmislieJumnf�he
ION � proceeAso(�her.alepuyttshullnmifySellcrinwmingn(nnyvulid�J.iutl�.u�o�hetltl.wiihiniOJUysaficrihcrmcip�n(�aldabsvnc�and
IfIY �..: SNler shall �hen have e reasomiMe time bw not exrocAing fi0 Anys, whhin whidi w rcctd� ihc tltle (or lurnish u tl�le pnlicy as hcrclnxf�er
I IO �� �� proviAed� and in mch ceses �he (ime of clusiny shnll Ae acenrdinyly eeien�cA; or. . .
I I I 2 An owner3 policy.nf �itle ii uranec in the nmo�nt of �he fvll purchn.e price nnming Bnycr es Ihe insured, es Huycr in�ems� mey appear,
I 12 . wriuen by a mspnnsihle �itle inzumnce compuny Leensed hy �he S�a�e o( W isconxin, whieh poliry sholl gmuan�ee SdIer55tille m Me in contluion
111 .' callcA fur hy ihis agrccmenl, exccp� !nr mortgagcs, juAgments, or other liens which will be �a�iefcd out o! Ihe pwtteds of ihc snle. A
114 cnmmi�mrn�hysuchatltlecnmpany,oyreeingmissueauchaii�lepolicyupon�herccn«lingn(�heproper�ucum.nuasnyrceJhcmin,sliallFe
I IS � -�eemeJ mfticient performance.
I 16 I f �his ofler provides for a I.md coNrac�, the same evidentt nf titlnhall be furnished prior lo the execmion of ihe Itl nd mmratt, end Sellershall
II] (urnishwriuenpmof,e�nrbefnreclosing,�hm�hem�nlunderlyin6in�fehtcanexx,ilnny,isna�inexeevsof�heproposedhulnntto(�helanAcnmrnci,
I ix and �hat �he paymenis on this lend convac� ere zu(Gciem to meet all o( �he obligetinns of Seller on ihe unJedyin6 inAebi<dnesc. , �
119 tihoWdlliryer(ull�ocxrryow�hisagmemem,allmoneypaldhemunJcqlncluAlnyxnyadditlonuleornmunnney,ehall,anheopdnno(Shceq
I?0 be paiA �o m mtained hy SNIe� as IiyuiAa�eA domagen. If such monry is bdd by IiroAcr, Itrnkcr shull AiaAune such moncy us (ollows: '
I?I I. I o Nuyv, IlSeller hex nnt nndfmJ PuyerxnJ 1lmkerin wri�ingnf}eller'sdec�lon �m m�siAerall money pald hcreunACrus IlquiAaieJ demngen
12? nr pan paymcm (m specilic pedormanee wi�hin fi0 Jays nf dnsiny dme sci forth in ihis nRrmment, nq
121 2� lotidlcrasllyuidumddamaFcs,xubl�'���oAc�uninnsolNroAer'scommisxionnnAtlisbursemcnu',ifany,ifneitherpenyhescnmmcncedalnw
124 .. . suh on �his maucr wi�hin 120 d'ays nf �hc closing Anm sct Intlh in �hiv egrecmem.
125 � tihould Sdicn c� unablc m carry mi1 this nffrecmem by rcason nf a vnliJ Icpol Jefre� in tille which 6uyer is unwilling �o waive, all money
I^_6 paid hereunder shall be re�umed �o Pnyer fonhwuh, anJ �his cnntrxa shnll be vaA_ �
12] In�heevrntthepropenysh�dleedamageAbylirtorelememsprionotimeofclosinginanemouNOfnntmnrelhanfivepercemof�heselling
Il8 pricqtiellershallh<obligamdmrepair�heprup<r�yanJme�omvtn�he>omcmnJ��.i nihaii�wason�h<Jamuf�M1i.coffer.lniheevcnnh:usndi
179 Jamago�hallexeeedwdiwrti,ihiscontraclmnybecancellede�np�innn(Hiryer.tihuulJHuyerelectlocorryouuhisagreemrn�Ae.pimsuchJnmaFC,
U(1 Nuyershullbeentitledmiheinsurancepr�ceeASrcladngtodamogemproper�y;howev<r,ifthissalcisbylandcoNracloremor�gage�oSellzr.ihe
U 1 insirance pmcmda shall A< hcld in �mst fm the snle purpo�e oI resmring the pmperty. , .
uz srecini.raovis�orvs:.The,.sale..of._th3s.�Pr?FniseS,i�„$�pjecC,to,tlie„follqqin.g;,,(1)„a.right-of-way,
ilJ over.thE.WeS.tei�Y..B.�eek.O�.t}le.N9F�?eX�y..].�@,S.�eet,of,;said premises fo,r,.a. mmon,driyeway.
Ua and_(2)..W1.�.aS�J�€n,q,q..{$r,tj�e,West,4„feet,of.said,property,for,tlie,pus��ose,of,in.stallation
❑5 and. maJ,qtella}7Ce. A� ,te,�ephp�e utl.�,ity. �ines, and. cables,, saip ease�nt beang, in, fawr of
. . .........
un WiSCVnS]D..`Pe.1eRh9Re..CWR???�Y . .......... ......... ..._.... ......... .......... . ......_..
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140 � �i RuyerhasreuJ,(ullyunAcrs�andsandacAnnwicdgesreceiptofacopyol�hisn(fcrinpunhnae.I1UYERISAf�VISEDI-FIATNROA[RH�4S
Idt AN AGFNCV NGLAI'IONtiI11P. Wllll tiC1.LCR. �. .. CITY OF OSk�OSH .,. . ..
,:�.:,.'....�.�:�.,..:-- .. _ ..'..�.,
142 ...............:... �.................:...�..:'.............. �'.5.:'. ' _
..........:.............�...........�.............Y ..
lal _ , . . . , , (Puyer) . Iliu ei)
li4 ��TH�S OFFFRIS HFRFAY ACCFPTFD:THF. WARRANTIES�AND REPRFSENTATIONS MADE HF.RFIN SURVIVF TIIF.
145 CI.OSIN(i OF TIIIS TRANtiACII1lV. 'IIIE UNDFRtiIGNIiD HfRF1iV AfRFfS TO SI'll. AryU CONVFY THF AItOVF-
14fi Mf!NIIOVGD PROP[Rll' ON 1lIH l flRMti AND CUNUII IONti Ati SGf YORI II AND ACKYOAVLEUGI'9 RLCIiIP9� OF A CUI'Y
14] -UhIHItiAUREGMIINT.
iax -,,, ..�...:! .....QGt.4be; -..�:.,.. .....�... I9 86.... . . �
I4Y ,. . . . . .. .. ... ... ...........
.. .. . • _ . . _ ., ,. -_, , id�9IIYP M. Oti[ZEIN ............�Sellerl
ISO : ...t..`. �:t�.::.. ....�.._..., .. ,.....9.'.....,.:. ,- ! L.' . .. ..... .. ... ... ..1..........:)..'.... .
I51 , , , . �.., . ., � . , pf Seller is mxrrieJ, spouse shoWd si6��) - . � (Seller)
�S� � � ' � �� ' � ' � ' fARNf-STMO!JF.V R[CFIPT ' � ' � �� � �
151 ... ,v Famcs! money in �he amnum of 5. NO.t.lPD�.1Cdh�E .................... in farm of ............,.....................�.....
I$J ......:....' ...:.......:..........�.�.............'....:.... reccived (rom
.......................................................
�t5 , � - ' �' � � , l'he �mAersigned herchy agrees m hnlA same in an awhmimd rtnl cata�e vus�
ISM1 nernum in Wisenmiq ur Iransmi� �he same in ncrordan¢ wilh �he mrme ul Ihe ubove aller.
157 . � .. - � . ................::....�........................................ . Arokcr
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