The URL can be used to link to this page

Home My WebLink About28909 / 77-15June 16, I977 #15 RESOLUTION PURPOSE: AGREEMENT TO PURCHASE AMERICAN EXCELSIOR SITE INITIATED BY: CITY ADMINISTRATION BE IT RESOLVED by the Common Council of the City of Oshkosh that the proper City officials are hereby authorized an� directed to enter into the attached Agreement To Purchase for the property known as the American Excelsior site. - I5 - -y ; � � s_ , �� .� �, RESOLUTION NO. 15 - MOTION: III. AGREEMENT .... JUNE 16, 1977 3. DEED. On the date of closing American Excelsior will deliver its warranty deed to the demised premises, free and clear of all liens and encumbrances excepting easements, encroachments and rights of record. 6. CLOSING. Closing shall be held at the office of the agent for Chicago Title Insurance Company, Schmitt Abstract & Title Co., Inc., Oshkosh, Wisconsin..... � n«��..��.�„�, ,.�..,��.��,..��e..��..�.�.,�.��,�.�..�y.�.W�.��,.�,�.,�.� �� AGREEMENT TO PIIRCHASE I• PARTIES 1• AMERICAN EXCELSIOR COMPANY, a Texas Corporation, herein- after called American Excelsior, and 2. CITY OF OSHKOSH, a municipal corporation, hereinafter called City. II- RECITALS 1• American ExcPlsior is the owner of the demised premises, which is the site of the American Excelsior operations in the City of Oshkosh. 2. The City agrees to purchase said American Excelsior property for.the sum of Three Hundred Fifty Thousand Dollars ($350,000.00), payable as follows: Ten per cent (l00) upon the signing of this agreement by American Excelsior; the balance to be paid at closing. 3. The-parties-wish to set forth the terms of the Agreement to Purchase. 4. The demised premises are the following real estate located in the City of Oshkosh, County of Winnebago, and State of Wisconsin, to-wit: PARCEL I That part of FRACTIONAL LOT TWO (2) of Section Twenty- three (23) Township Eighteen (18) North, of Range Sixteen (16) East, in the Sixth Ward, City of Oshkosh, Winnebago County, Wiscon�sin, per Leach's Map of 1894, described as follows, viz:- Commencing at the point where the Northeasterly line of the right of way of the Chicago, Milwaukee, St. Paul and Pacific Railroad Company intersects the South line of the North 581.6 feet of said Fractional Lot 2, the place of beginning; thence northwesterly, along the Northeasterly line of said right of way, 75 feet; thence northeasterly, at right angles to the Northeasterly line of said right of way, to the Westerly Bank of th� Fox P.iver; thence southerly, along the Westerly Bank of said River, to point of intersec- tion with the South line of said Fractional Lot 2; thence west, along the South line of said Fractional Lot 2, to the Northeasterly line of said,right af way; thence northwesterly, along the Northeasterly line of said right of way, 884.7 feet, to the place of beginning. PARCEL II That part of Lot Qne Hundred Eleven (111) according to MAP OF S.W. 1/4 OF SEC. 23, in the Sixth Ward, City of Oshkosh, Winnebago County, Wisconsin, per Leach's Map of 1894, described as follows, viz:- Commencing at the Northeast corner of said Lot 111; thence south, along the East line of said Lot.11l, to the Northeasterly line of the right of way of the Chicago, Milwaukee, St. Paul and Pacific Railroad Company; thence northwesterly, along the Northeasterly line of said right of way, to the North line ot said Lot 111; thence east, along the North line of said Lot 111, to the place of beginning, excepting therefrom that portion thereof heretofore conveyed to the City of Oshkosh by Deed recorded in Volume 1347 on Page 591. PARCEL III Lot One (1) in WAKEMAN AND DICHMANN'S REPLAT and that part of Ohio Street (now vacated) and of Wisconsin Avenue (now vacated) lying south of the Fox River, all in the Sixth Ward, City of Oshkosh, Winnebago County, Wisconsin, described as follows, viz:- Commencing at the Northwest corner of said Lot 1; thence east, along the North line of said Lot 1, to the Westerly Bank of the Fox River; thence southerly, along the Westerly Bank of said River, to the Northwesterly line of Ohio�Street, as now located; thence southwesterly, along the Northwesterly line of said Ohio Street, as now located, to the Northwesterly line of tract of land conveyed by Dear7 . t�? f"�A C� t'V �Ji C.ii:;:Li�li �^.��.._ n_ � _ �v_ 1_ �-� �-- .� � c.�.vt UCtI .�il v vs. uittC 1 J'3 i on Page 591; thence southwesterly, along the Northwesterly � line of tract of land heretofore conveyed, as afore- mentioned,._to the West_line of Ohio Street (now vacated); thence north, along the West line of said Ohio Street (now vacated), to the extended North line of said Lot l; thence east, along the extended North line of said Lot l, to the place of beginning. PARCEL IV That part of Lots Thirteen (13), Fourteen (14) and Fif- teen (15) of Block Ninety-three (93) and of Texas Street (now vacated) and of Third Street (now vacated) all in the plat of the ORIGINAI, THIRD WARD, in the Sixth Ward, City of Oshkosh, Winnebago County, Wisconsin, per Leach's Map of 1894, described as follows, viz:- Commencing at a�point on the Center line of said Third Street (now vacated), that is 104.5 �eet easterly of the East line of Ohio Street, measured along the Center line of said Third Street (now vacated), which point is also 20 feet westerly, measured at right angles to, the Center line of Chicago, Milwaukee, St. Paul and Pacific Railroad Company most Westerly lead track across said Block 93; thence westerly, along the Center line of said Third Street (now vacated), 83.53 feet, to its intersec- tion.with the extended Center line of said Texas Street (now vacated); thence northeasterly, along the extend�d Center line, and the Center line of said Texas Street (now vacated), 137.9 feet, to a point which is 20 feet westerly of, measured at right angles to, the Center line of the Westerly lead track of.the Railroad; thence southerly, on a 12 degree curve to the right, parallel with and 20 feet distant from, measured at right angles to, the Center line of the Westerly lead track of said Railroad, to the place of beginning. PARCEL V Lots Two (2), Three (3), the Northwesterly 1/2 of Texas. Street (now vacated), and the North I/2 of Third 5treet (now vacated), lying west of the extended Center line of said Texas Street {now vacated) and East of the East line of Ohio Street, all in WAKEMAN AND DICHMANN'S REPLAT, in the Sixth Ward, City of Oshkosh, Winnebago County, Wisconsin, excepting therefrom that portion thereof heretofore conveyed_to the City of Oshkosh for relocation of Ohio Street by Deed recorded-in Volume 466 on Page 583. III. AGREEMENT NOW, THEREFORE, in consideration of the mutual.promises herein contained, the parties agree as follows: � 1. RECITALS INCLUDED. The recitals are part of this Agreement. 2. PURCHAS� OF REAL ESTATE. City shall purchase the demised premises from American Excelsior for a total consideration of Three Hundred Fifty Thousand Dollars ($350,000.00) payable as follows: Ten per cent (10$) upon the signing of this agreement by American Excelsior; and the balance on the closing date as hereinafter provided. 3. DEED. On the date of closing American Excelsior will 4. 5. �• Oshkosh, deliver its warranty deed to the demised premises, free and clear of all liens and encumbrances excepting easements , encroachments and rights of record. . CERTAIN FIXTURES AND EQUIPMENT EXCEPTED. The following fixtures or equipment are excepted and shall not be transferred to the Cityi any and a�l equipment used by or needed by American Excelsior in the operation of their business, the type, number and amount of such equipment to be excepted shall be under the exclusive control and determination of American Excelsior. EVIDENCE OF TITLE. American Excelsior.shall furnish to the City within thirty (30) days from the date of this Agreement, a Commitment for Title Insurance from the Chicago Title Insurance Company. The City however, agrees as consideration of purchasing this property to pay alI costs in connection with securing the title insurance. - '� CLOSING. Closing shall be held at the offi,ce of the Agent for Chicago Title Insurance Company, Schmitt Abstract & Title Co., Inc, Wi,sconsin,_ at the convenienc..P af the partiP� but nn �ater than September l, 1977. In the event that through unforseen ^i��':;"S��^C°S �::t°�1..^.?1? F}rr-rrl ciQr fi:;r7c i±- rrrr-n�Sa�r�s i`., .� � , w continue its moving operation subsequent to the date of closing; in that event American Excelsior will pay to the City $200.00 per month for such hold over, but in no event shall American Excelsior continue in said premises subsequent to November 1, 1977. 7. INTERIM POSSESSION. The parties acknowledge that prior to closing it woul.d be to the convenience to the City if the demised premises were available for its inspection and also for examination by architects, engineers and other representatives of the City. American Excelsior shall make the premises available for such purposes as soon as American Excelsior feels, in its best judgment, it is practical to :. . 8. TAXES. Taxes for the year 1977 shall be pro-rated through August of 1977. 9. AUTHQRITY. Each of the parties represents that it has been duly authorized to execute this Agreement by the�officer whose signature has been affixed below. IV . �iSCEi,I,ANEOUS l. This Agreement shall be binding upon and inure to the benefit of the parties hereto, and their respective successors or assigns. IN WITNESS WHEREOF, this Agreement has been executed as of this� day of . 1977- AMERICAN EXCELSIOR COMPANY, A ..�,-..-,� .+ n�r.r>r�T+T mT!^i.T 1 AAt�J �.va�L vi�� .— vi� By: �`., �/� . CITY OF OSHKOSH By: WILLIAM D. FRUEH, City Manager � � � � � a� a� � � c� � v � � Q1 U � N rl p F-t N � O � .� � � � J> d-� � � N �2, R3 u] • O � O .� -1� � �, +� U R-{ � �, i!1 O � � Ei .. O p, � ,� rf O � +� O rl • • •,� � J � i/� S." �, r� r-I O ,t..i O +� N �-i � Ul �; U -I� U � � >C O f� � W � ti ti rn r-1 � r-1 N � � � �� .� � r-I U � -F� �i U