HomeMy WebLinkAbout31836 / 82-10.•uy 6, i9az
PURPOSE: ACCEPT OPTION
INITIATED BY: GRAND OPERA HOUSE BOARD
�� 10 RESOLUTI0:1
BE IT RESOLVED by the Common Council of the City of Oshkosh that the proper
City officials are hereby authorized and directed to accept for the sum of
$100.00 the option to buy the property located at 106 High A�enue, Oshkosh,
Wisconsin.
BE IT FURTHER RESOLVED, that money for this purpose is hereby appropriated
from Ar_count No. 316-104, Grand Opera House F'und, Land.
SU9MITTED BY
Liii:iPo1�1�7
- 10 -
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L•: considcntion of the sum oE ---0\L iIUND[2C� A\U ;:0/100-----------------------Doilz:s,
(J100.00-- ) this day in l�nnd paid to �ne Ly che CITY OL� OSIII:OS71, a Flunicipal CorPOr:iCioi�,
re<cipt wheceof is I�emby acicrtowledged, S do herehy give m siid CI'lY OP OSlIKOSfi and i[�i�
. �F[ism:R'a_.uua3arsp�xdmeairtrtar� wcccssors zn�l,
assi�ns the oytion to purchase on or Lefore tiie 20th day of July , 1902 ,
thc followin� dcseri6ed rea] cstatc loeatcd in tlm City oi Oslil:osL , County of
Winnehago , State of Wisconsin, ta-wit: .
The Southeasterly 10 feet of Lo[ 2 and all of I.oCS 3 nnd 4, Block 8,
Original Plat, lst liard, City of Oehkosh, 6'innebago County, Stace of
Wisconsin (herea£ter referred to as the Property). � �
See reverse side £�r addi�tioZal ter�s of chis option whicit are. '
incorporated by reference. ,� � . .
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for the sum of �--FIFTY-ONE TAOUSAND � T:0/100---------____ Dollars ($51.000.00 }
payable asfol]ows: TER T[10USAND DOLL ($10,000.00) [o be paid wiChf.n siaty (60) days
of service of the notice of incen on to exercise this option, exclusive of tlie day
of setvice and the balance of FO -ONC THOUSAND DOLLAPS ($41,000.00) to be paid on
or before May 31, 1983.. .
Notice oF tlu intrntion to exercise tl�i: option shxll be served upon me wit4en the time aCo��e specified,
either by persunal delivery or Ly registered mai7, addressed fo r.�e zt ��123 S. Limvood Avenue,
P. 0. Bos'145;'Appleton, Wiscon�in�54912. - � '
VVit6in fifteen(15)days fronn the date such notice is so served, I �vi11 furnish cempiete ahsSract of
title 6y responeible abstzact company, eztr.nded to date of dclivery showing good . nd �r.c:cliant:U:c tiBc
of record to said premises in me or at my option �n o�vnet's yolicy of tit:e insu::.nce, in the sum of
$ 51,000.00---- , wriiten by an insurance compar.y licensed Uy tlie State oi Wisconsin, •,ho�virtg
title as callcd for by this agrcemenG SzkesliaiF-brcon:urnr.=tai�end-t'.:ceeix�_}�aacemec�awiEkicF' �"
'tlays^�rct,errFCa°Sht tro.n:eebwespcezFr_c�; mnveyance s4ai1 be made bp warranty decd Free and clez:
of all licns xn1 encumbnnces, except: eaeements and restric[ions of record. �
�" �� '� ' based�on taxes for year prior tc
Rents, generzl tar.es and interest sliatl Ue pro•rated to date of trancfer�iinsnrar.ce �+olicies :hail 6.- C1os i�r
assigned end ptemiums therefor bc likewise pro-ratcd; all unpaid installments on imozovemen: Uenus �
shall be oxid hy ".City of Oshlmsh. _ . _ � � � �� ��
Ii is ngrced lhat :ime is tl:a essence o: ti�ia oyciou.
Shouid City of Oshkosli - � � � '
..__ .. txil to�c:crcisethis.option �vifhi�tthci�me herEin limit•cl all_ri�l�es and privilcges gran;ed herennder shail
be der.ned eompletely sucrendered, this ontion h�r•��mted, and the ameunt t'.iis day paid sl:all Ldong to me. �
.. . li :nere tSaa nec pecson ,..<_u :e. t is a. n:r: o. �.: ��, :.i� ��i.sr t �.:�. k..:d !..-un ::. !. be r� .i r. iC '
- v.•rittnn in plural.
Dzred this ' �T day of �,.i;�y�,l� , 19 82
J
�7itn.^ssed L/:- - 4:ICk:IiRT� DS1ST% d IIIIST% RE:i7'i�L 19:OPER��e.:,
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SPECIAL TRRMS
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Thc cle.^.ing shall take rlace zt the earlier oP (1) Ma/ 31., 1963,
or (2) sixty (60) days (oc the first bucinesc day folioca!ng sixty.
(60) days if the sixtieth day is not a business day) aft?c wci[-
ten notice is given by the Sellers [o the City oE Oshkosh (IIuyec)
selecting an earlier date to close. At the closing the Sellers
shall delivec the taarranty Deed as called foc by tUis Agreement
and shall vacate the pcemises and give the Buyer physical occupancy
thereof. The Buyer, at the closing, shall pay the balance due of
$41,000.00.
The Abstract of Title called foc by this Agreement shall be supolied
to the City of Oshkosh within fifteen (15) days of the closinq
date and shall be dated �uithin t�venty (20) days of the closing date.
Sellers shall have the right to cemov? all fixtures from the
Pzoperty without any obligation of eestoring tlie Property.
In the event the bnilding on the Property shall be damag=d by
fire or elements prior to time of closing, in an amount of not
more than five percent (SC) of the selling price, the Sellers
shall be obligated to repait the same. Ef the damage is in an
amount of more than five peccent (Sa) of the selling price, the
Seilecs may repait�oc rebuil6 t:^.e same �t tne Saiier�' option
ptovidin9 the Sellets give wcitten notice to the Buyer oF.
Sellei>:' election to exercise the option to cepait or rebuild
within thirty (30) days from the date of the danage and providing
further that the Sellers unde=tal:e and complete such �epaics ancl .
zebuildin9 ac =easonably ptomptly as the circumst-ances pecmit.
If the damage is more than five p_rcent.{52) of the_selling price _
and the Sellers do not elect to =epair or rebuild, this �contract
shall be automatically cancelled unless the Buyec, ivithin thicty .
(30) days aEter the eazlier of (1) u:ritten notice f=om the
Sellers stating that they do not elect to repair or rebuild, oc
(2)�after thirty (30)�days fcom the date of damage iP the Sellers
have not given written notice of its election to repais or
rebuild, gives tUe Sellers taritten notice indicating the Buycr's
election to carxy out this A9ceement despite such damage, in �ahich
event the Iiuyet shall be =esponsible for the repair or rebuilding,
and the Buyec shall be entitled to the insurance proceeds ceceived
or receivable 6y the Sellers relaeing to the damage to the Property.
Dated . this ,�� .day of ��"< � , 1962.
WITNESS�D BY: WICE:iRP� DLET7. & DIET'l.
. .. _.-._- ___._.._' __.___._ '___. _ _ .___PROPE2`/PLI:S,-a partnership. _ _ '.. __-___
_ . __. . _ _ _ _ .. . _ _ _ _. _. __ _. . _. . - �` � ^ �� !%`� • -�, _ .
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� Totl::;._[� It�2C2� O �J:CL t. --_ -.."
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Flazlow P7. `r7ic4;e�l, co-paLtnee
VIfLLLY TRUST CO:IPA::Y
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