HomeMy WebLinkAbout29900 / 78-17L� �'e.�r 21, a-978 �r 1'j
FU?.1'CkiE_ A?�;rCRIZE Eh%�ISF. Or^ OPTIO�i
IATI7'_TAT:°J SY: CIT'i PDMICSISZP.ATTDN
RESOLII'I'SON
BE IT RESt�.}T.� by the Catcipn Cow�cil of �he City of 0.5tiKOSh that the piriper
Citl� eFFicials <-�re her`r_7y authoriz�rl and dir�c:ted to eacer.cise th=:� Cpi'�.on datvd
�'over,�'�?r. 22, 1378 to pur�i� se land in the �h�n of Algcr.�a fra�n Fobe.�� A. Bral�to;�
ai�d C,�oI S. Br:ytc�n.
SUBMZTTED BY
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•' . WI541 OI'i90A' . . A:i-rc.=!n Lepal II7nnk C-umonn>'
,t,�,�r,�....i Lc �ci���o;nin P.ual 1�'sLCC F:xa�ninl�R Roar�i ]Silweukce. Ris. (.tub 324t1 )
Ia consideration of the sum of One and no/100---------------------------------- vollars,
(51.00 ) chis day in I�and paid to mc by tlie City of Oshkosh, a riunicipal corporation
receipt �vhereof is hereby acicnowlcdged, I do hereby give to said Clty of Os't1'.�osh, dnd its succes5ors
in inter��st k��Yr.�pe� ^ac�c,.�nsxr��;d,
assi�n� tiie option to purchase on or Uefore the 315t day of I7_'_'e�-.:�er , 1978 ,
the fo:!owir.� described rea! estate located in the 717.an of FL�o::d , County of
4�innebago , State of Wisconsin, to-wit:
� `
A part of the Northwest Quarter (NW 1/4) of the Southeast Q�arter (SE 1/9)
and a part ot the Soutl��est �ivarter (S� 1/4) of the Southest (luarter (SE 1/4)
o£ Section thirty-thre� (33) �mship Eighteen (18) Ivwrth, ?�an?° Sititeen
(16) East, 'Ibwn of AlcJvna, Zr'innebago County, iaisconsin con=,3ining 26.829
Acres of land and beinq described by: Commenciny at the C��ter of said
Section 33 and the t�-u:�F�oint of beginning, thence S. 89°-CB'-Ol" 1�. 1062.35
feet alor.� Yhe North l.i_;� of the SF 1/4 of said Section 33, th2nce S.
00°-42'-32" iV. 706.68 f;et previou:�ly recor<3ed as S. 00°-0�' E. 712.11 £eet
in Dociunent #=45801 as r.�cordecl i.n the �9innebago C'.ounty kecister of Deeds
office to a point on the I�orthwest_crly right-of-wn�• line o.`_ S.T.H. "44",
thence S. 54°-18-OS" W. 132U.44 feet prrvi.ously recorded as S. 53°-59'30"
W in Vol. 976, page 634 a=; reco� '�>�l in the Winnebago Coun�; Register of
I�eds office, along the I�o�thwes�-�=1y right-of-way line of S.T.H. "a4" to
its intessection with th� �4est line o£ the SI: 1/4 0£ said �ect�on 33, th�nce N.
00°-43'-24" E. 1493.30 feet along the West line of the SE 1/4 of said
Sectio�i 33 tu.the fisua paint of beginning.
Being subject to a transmission line easement as recorded iz Voltm;e 1037
page 417 in the Winnebago Coiznty Regist.:s o£ De��ds office.
. �
for thc sum of One Htuidred 7taenty Thous�zd and no/100-------------Dollars ($120,00O.00j
pay-ahle as follows: -
Purchase price shall be paid as follows:
1. The amount paid hereunder shall be applied to the total purchase price.
2. Commencing on January 1, 1979 and continui�g thereafter until December 31,
1983, the Buyer will pay to Seller payments equal to four (4%) per cent of
the purchase price, payments to be mad2 on a yearly basis.
3• Installment payments of principle and interest computed on a 5-Year amor-
tizatien with interest at the rate of 6i per annum, said paymr�ts to be
made in equal monthly instaliments, cornmencing January 7, 7984.
4. For every four thousand doll-ars of principal paid to Seller under the land
contract, the Euyer shall have the right to select one (1) acre of said
land and the Seller shall convey to 8uyer said land by 4larranty Deed free
and clear of atl liens and encumbrances. If the Buyer requires more land
than past payments of principal under the land contract would pay for under
the proceeding provision, the Buyer may prepay principal to the exter�t
required for Buyer's sales of said land bh the basis of four thousarTd
dollars for each acre sold. The Seller shall have the right to defer
receipt of payment under this paragraph. It is understood that all sal�s by
Buyer and principal payments made pursuant thereto sha13 not be done
prior to December 31, 1983.
The contract will also incorp�rate the fotTowing items:
That upon expiration of the existing agriculturat leases in the property
knor.in as the So��th��est Industrial Park of the City of Oshkosh, that the
agricultural land, as defined by the ASCS Office of the 1•Jinnebago County,
and as a consid:ration .:�f this land contract entered into bet��een tfie
parties, the City, as Buyer, will lease to Seller and Seller will have a
right to subiet, that agricultural land presently leased in the Southwest
Industriai Park as defined 6y the ASCS Office.
2. That the above mentioned lease between the 6uyer to the Seller o-�iil terminate
on December 31, 1983; provided that the Seller shall not be compensated
for any crop damage on that part of said premises sold by Buyer upon 30 day
notice prior to harvest to the seller; should such notice be given aiter
this period, then Buyer will reimburse Seller for er.penses as determined
by both parties. Should notice be given pr'vor to this period, then no
expenses need be paid by Buyer. Buyer specifically reserves the right to
entend utilities of any nature and streets throughout the leased premises.
3. That Buyer and Seller specifically agree that all deacl or downed trees in
the leased land and in that land part of the land contract above mentioned,
shall be the property of the Seller.
4. Buyer agrees to pay all costs incidental to the sale of this
real estate.