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Home My WebLink About32044 / 82-12. �'j� �n ��cn'�`�` � EC�� 1 L�. L./ . `r `" ✓� \ o.��:.>� ��.. �! �Ci>.'a.�i �" �%�!��°e�' z� & c��.fi.� �'oz�Zdz�� •.Lu - - - � C= � fY ?iT`i O?iIdEY'S ,,...�..�—��-- SUITE 322 526 CRESCENT BOULEVARD GLEN ELLYN, ILlIN01S 60737 312-8583616 July 30, 1982 Mr. John W. Pence City Attorney City of Oshkosh 215 Church Avenue Oshkosh, WI 54092 Dear John, Following our conversation of just a moment ago, I am attaching a copy of the Option to Purchase Agreement which we used in our negotiation with the Paine. In our negotiation with the city, we will use the form of this Option with the following modifications: 1. Purchase price based on an acquisition cost of $8,000 per acre. 2. The payment of $1,350 at time of_Option origination; the option which will run for a twelve month period. 3. The option will include two 6 month extentions each of which will require a$1,350 payment. 4. The Option Agreement will be subject to the following con- ditions. A. Our ability to purchase on satisfactory terms and con- ditions either of both of contiguous pieces of ground. B. An acceptable Industrial Revenue Bond resolution. C. Sat.isfactory and proper zoning. D. Adequate water and sewer facilities at the site. E. Acceptable soil bearing tests. F. Approval of plans and the issuance of building permits. � Q Mr. John W. Pence July 30. 1982 Page 2 If you would review this and get back to me with your comments, we will immediately formalize our Option Agreement and return it to you for submission to the appropriate group or co�ittee. Very truly yo rs, �� • R. H. Morton Vice President RHM/krb Enclosure r�- � �► � !�� OPTION TO PURCHASE In consideration of the sum of Five Thousand Dollars ($5,000.00) this day in hand paid to PAINE ART CENTER AND ARBORETUM, INC. (here- inafter called Paine), the receipt wheieof is hereby acknowledged, Paine does hereby grant to CHURCIIFIELD MANAGEMENT & INVESTMENT CORPORATION, at 526 Crescent Boulevard, Glen Ellyn, Illinois 60137, (hereinafter called Churchfield), its successors and assigns, the option to purchase on or before the first day of October, 1982, (the Initial Term), real estate located in the City of Oshkosh, County of Winnebago, State of Wisconsin, to-wit: The real estate described on Exhibit A attached hereto. Additional Term. Paine does hereby further grant to Churchfield the right to extend the term of this Option for six (6) additional months from the end of the Initial Term for the further sum of Five Thousand Dollars ($5,000.00) provided that notice of the intention to extend the term shall be delivered in writing to Paine prior to the expiration of the Initial Term, which notice shall include the payment of Five Thousand Dollars ($5,000.00) to Paine. � Second Term. Paine does herebv further grant to Churchf_ield the right to extend the Term of this option for an additional six (6) months after the expiration of the Additional Term, if renewed, for the further sum of Five Thousand Dollars ($5,000.00), provided that notice of the intention to extend be delivered in writing to Paine prior to the expiration of the Additional Term, which notice shall include the payment of Five Thousand Dollars ($5,000.00). �'hird 'rerm. Pain� does hereby further grant to Churchfield the right to extend the Term of this option for an additional six (6) 07828 months after the expiration of the Second Term, if renewed, for the further sum of Twenty Thousand Dollars ($20,000.00), provided that notice of the intention to extend be.delivered in writing to Paine prior to the expiration of the Second Term, which notice shall include the payment of the sum of Twenty Thousand Dollars ($20,000.00). Fourth Term. Paine does hereby further grant to Churchfield the right to extend the term of this Option for an additional six (6) months after the expiration of the Third Term, if renewed, for the further sum of Twenty Thousand Dollars ($20,000.00), provided that notice of the intention to extend be delivered in writing to Paine prior to the expiration of the Third Term, which notice shall include payment of Twenty Thousand Dollars ($20,000.00). • Exercise of Option. Churchfield shall notify Paine in writing �of its exercise of the Option to Purchase and shall serve such notice � by personal delivery or by certified mail addressed to Paine at 1410 Algoma Boulevard, Oshkosh, YJisconsin 54901. O�tion Price. The Option to Purchase herein provided shall be at a Purchase Price of Four Hundred Thousand Dollars ($400,000.00) payable in cash at Closing. Within twenty (20) days after the date the notice to exercise the Option is served or mailed, Paine will furnish an owner's policy of title insurance in the sum of Four Hundred Thousand Dollars ($400,000.00), writfen by an insurance company licensed in the State of �9isconsin showing title as called for in this agreement. Sale shall be consum- mated and conveyance made within thirty (30) days after service of the notice above specified; conveyance shall be by warranty deed free and clear of all liens and encumbrances excepting the following: Riqhts and easements (if any) in and to any and all rail- -2- ' � / % road switches, sidetracks, spur tracks, and rights of way located upon or appurtenant to the subject premises. Rights of the public in any submerged portions of the sub- ject premises lying below the ordinary high water mark of the Fox River. Easements to public utilities of record. Credit for Option Payments. In the event Churchfield shall exer- cise its Option to Purchase during the Initial Term, during the Addi- tional Term, or during the Second Term, all sums naid for said Options shall be applied to the Purchase Price and appropriate credit allowed. In the event that Churchfield shall exercise its Option to Purchase during the Third Term or during the Fourth Term, the sums paid for the said Third or Fourth Term options shall not apply to the purchase but shall be retained by Paine solely in consideration for the Third and Fourth Option terms. Parking Easement. In the event that Churchfield shall exercise its Option to Purchase at any time provided in this Option or any extension hereof, at the Closing Paine shall grant to Churcrfield, its successors and assigns, an easement to the use in common with Paine and the City of Oshkosh, their successors and assigns, o£ the Iand adjacent to and east of the fire station, (being the North 109 feet of Block 123 in Replat of Winnebago), for parY.ing o£ vehicles only. That this parking easement shall extinguish when and if the present site of the fire station shall revert to Paine. Refund of Part of Option Price Under Certain Conditions. In the event Churctifield sha11 be unable to obtain commercial zoning classi- fication necessary for construction of a part of its planned project as such project has been explained to Paine, or in the event that 0812R -3- a % soil tests and boring tests shall indicate a condition unsuitable for the construction of the proposed development, or in the event that Churchfield is unable to obtain a reasonably satisfactory accommodation of the railroad right-of-way within the period con— tained in the Initial Term or the Additional Term, then in any of such events Churchfield shall notify Paine of its inability to complete the conditions set forth in this paragraph, and Paine shall re£und to Churchfield the sums paid for the Initial and the Additional Terms not to exceed Ten Thousand Dollars ($10,000.00). In aIl other events, if Churchfield shall fail to exercise the Option within the time herein limited, all rights and privileges granted hereunder shall be completely surrendered, this Option terminated, and alI � such other sums paid shall belong to Paine. Broker. Churchfield, in accepting this Option, acknowledges that in the event there is due and payable any fee for brokerage fi.nder's fee or any such similar remuneration that the responsihility for such payment, if any, shall be that of Churchfield, and in no event shall Paine be respon"sible for any such payment or any expense incurred. Dated this day of March, 1982. PAINE ART CENTER AND ARBORETUM, INC. By Franklin Moore, President 08128 � -9- � / � STATE OF WISCONSIN ) SS. WINNEBAGO COUNTY ) Personally came before me this day of March, 1982, the above named Franklin Moore, to me known to be President of Paine Art Center and Arboretum, Inc., and to me known to be the person who executed the foregoing instrument and acknowledged.the same as the act of said corporation, by its authority. Notary Public, Wisconsin. My Commission This instrument was drafted by Hibbard H. Engler, Attorney, Oshkosh, Wisconsin 54901 08128 � -5- �,� / SCHEDULE A Lots One (1), Two (2), Three (3), Four (4), Five (5), Six (6) and the Northerly 1/2 of that portion of abandoned Henry Street lying south of and adjacent to said Lot Six (6) and west of the extended Easterly line of said Lot Six (6), all of Block One Hnndred Zlaenty- three (123) in REPLAT OF WINNEBAGO, in the Twelfth Ward, City of Oshkosh, Yiinnebago County, �4isconsin, excepting thereirom the three (3) following described £racts of land, viz:- 1. Commencing at a point on the North line of said Block 123 (as platted) that is 234 feet west of the Northeasterly corner thereof; thence south, at right angles to the North line of said Block 123 (as platted), 100 feet; thence west, parallel with the North line of said Block 123 (as platted), 40 feet; thence north, 100 feet, to a point on the North line of said Block 123 (as platted) that is 40 feet west of the place of beginning; thence east,.along the North line of said Block 123 (as platted), 40 £eet, to the place of beginaing. __ 2. That portion thereof heretofore conveyed to the State of Wis- - consin, Department of Transportation, Division of Highways, by Deed recorded as Document No. 527726. 3. That part of Lot Two (2) of said Block 123 lying North of a line 100 feet south of the north line of Block 123. ALSO: Lots One (1), Two (2�, Three (3), Four (4), Five (5), Six (6y and the Southerly 1/2 of that portion of abandoned Henry Street lying north of and adjacent to said Lot One (1) and west of the extended fiasterly line of said Lot One (1), all of Block One Hundred �aentp (120) in REPLAT OF WIDINEBAGO, in the Twelfth Ward, City of Oshkosh, Winnebago County, Wisconsin. SUBJECT TO the following easements: l. An easement to iVisconsin Public Service Corporation dated February 12, 1947, and recorded on February 12, 1947, in the Office of the Register of Deeds o£ Winnebago County, Wisconsin, in Volume 555 of Misc. on Page 161 as Document No. 143000. 2. An easement to Wisconsin Public Service Corporation dated June 27, 1949, and recorded in the Office of the Register of Deeds for Winnebago County, Wisconsin, on July 6, 1949, in Volume 623 of Misc. on Page 21 as Document No. 165195. �►, „ , .� ; -. . ..- . .. . � July 22, 1982 Mr. William D. Frueh City Manager City of Oshkcsh City Hall 215 Church Avenue Oshkosh, WI 54901 Dear Mr. Frueh: �� /� SUITE 322 526 CRESCENT BOULEVAfiO GIEN ELLYN, ILlINOIS 60137 312-858-3676 Please accept this correspondence as our Letter of Intent to pur- chase the 3.425 acres described as the Campbell Creek Property. This offer is subject to the following terms and conditions: 1. Purchase price - based on an acquisition cost of $8,000.00 per acre for the parcel of land owned by the City of Oshkosh. 2. The acquisition of 3.5 acres owned by the University of Wis- consin, Oshkosh, which is contiguous to the city property and located off of Campbell Road. Purchase price to be negotiated. 3. 1.8 acres under the control of Eugene Kubasta and described as the frontage piece on Campbell Road. Purchase price to be negotiated. 4. Because the acreage owned by the city is essentially land- lociced, the acquisition of either one or both parcels is ia- portant to the total development of a Life Care Facility and Medical Service Facility. It is agreed that Churchfield's concept design will provide for the beautification of the land area including a walk and bicycle nature path for the use and enjoyment of the occupants of the Life Care Center, as well as other local people. This offer to purchase is contingent upon obtaining the necessary approvals from the City of Oshkosh as related to planning and zoning commission approvals and the issuance of building permits. In addition we wi11, of course, require that this site be approved as the designated site in the industrial revenue bond resolution approval issued to Churchfield earlier this year. � Mr. William D. Frueh July 22, 1982 Page 2 �/� I would welcome a meeting with you and your city attorney to work out the specific details of the contract to purchase the city's property which would be in a form similar to the agreement offered to the arboretum. Very truly yo rs, ��.! // R. H. Morton Vice President RHM/krb �/ h u , e August 5, 1982 !/ 12 RESOLUTION PURPOSE: SELL PROPERTY TO CHURCHFIELD MANAGEMENT 5 INVESTMEN'i CORPQRATION ZNITIATED BY: CITY ADMINISTRATION BE IT RESOLVED by tne Common Council of the City of Oshkosh that the troger C=C1 O_FirS_J.°_ er° hereh7 3iC�'1QTLZ'C� �' ':'i? 3.!.25 a__.._ '.<re�: =_v the Campbe]1 Creak property to Churcfi£ield Management S Investment Corporation at a purchase price of Eight Tfiousand Dollars ($8,�00.00) per acre, subject /July 30, 1982 to the conditions contained in the attached lettea of July 22, 1982,.and to site and plan review and approval by the City. . . . ; . . _ __.� � S[7aMIT1'ED BY AYPROVF'D — 12 _ N r'� � I � � N J� � Fa � N ois C1 W � �� c�/] � O �ri O J� � b Op, � �4r1+ � � � U ri U � � � � � � � � � N ii � � U �= � N � � �� ^ �o \O m � � O .r{ � � � � �� N N � � z° O N 6 � C-�-i U � O .� � a I � �� N � r-i N , U � � � �r�i y �: � � �\�� a' � ` . Ca