HomeMy WebLinkAboutRes.690.01-29-1992BILL NO. 92-9 RESOLUTION NO. 690
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
ENTER INTO A CONTRACT FOR PURCHASE OF REAL
ESTATE WITH SIX THIRTY CORPORATION
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU,
MISSOURI, AS FOLLOWS:
ARTICLE 1. The City Manager, for and on behalf of the City of
Cape Girardeau, Missouri, is hereby authorized to enter into a
Contract for purchase of real estate with Six Thirty Corporation.
A copy of said Contract is attached to this Resolution and made a
part hereof. /
PASSED AND ADOPTED THIS (D.th DAY OF , 19 Z)
R Rh des, Xa4n'r
ATTEST: David S. Limbaugh, Mayor Pro Tem
JulXe7A. Dale, Deputy City Clerk
CONTRACT FOR PURCHASE OF REAL ESTATE
This Agreement made this 29th day of January , 19 92 ,
by and between Six Thirty Corporation, a Missouri Corporation,
Party of the First Part, hereinafter referred to as "Seller", and
the City of Cape Girardeau, Missouri, a Municipal Corporation,
acting by and through its City Manager, J. Ronald Fischer, Party of
the Second Part, hereinafter referred to as "Buyer";
WITNESSETH:
That for and in consideration of the covenants, promises and
agreements of the respective parties as hereinafter set forth,
Seller agrees to sell and convey to Buyer, and Buyer agrees to
purchase and take from Seller the real estate situated in the
County of Cape Girardeau, State of Missouri, more particularly
described as follows:
A part of Outlot No. 54, United States Private survey No.
2199, Township 30 North, Range 13 East, City and County
of Cape Girardeau, Missouri being more particularly
described as follows:
Beginning at the intersection of the East line of Outlot
54 and the centerline of Cape LaCroix Creek, from which
the Southeast corner of Outlot 54 bears South 070 121 09"
West, 1104.67 feet; thence along the centerline of Cape
LaCroix Creek the following courses and distances:
North 870 27' 56" West, 132.59 feet; thence
South 840 40' 17" West, 41.90 feet; thence
North 830 15' 00" West, 55.43 feet; thence
North 300 53' 47" West, 91.29 feet; thence
North 380 40' 50" East, 262.38 feet; thence
North 290 49' 14" East, 70.37 feet; thence
North 010 54' 41" East, 75.43 feet; thence
North 350 44' 29" West, 42.35 feet; thence
North 850 02' 28" West, 121.51 feet; thence
South 810 07' 33" West, 123.07 feet; thence
North 850 14' 48" West, 73.22 feet; thence
North 690 05' 29" West, 118.01 feet; thence
North 450 38' 20" West, 187.05 feet; thence
North 810 19' 52" West, 178.29 feet; thence
South 790 26' 40" West, 88.05 feet; thence
A
South 610 28' 53" West, 105.26 feet; thence
South 510 43' 25" West, 117.56 feet; thence
South 310 46' 05" West, 185.60 feet; thence
South 560 51' 30" West, 167.76 feet; thence
South 840 55' 20" West, 83.85 feet to the East line of a
tract of land described in Book NO. 356 at Page No. 670
in the land records of the Coun Recorders Office;
thence North 07° 47' 47" East, 14(5"'77 feet to the North
line of Outlot No. 54; thence South 820 12' 47" East,
1435.03 feet along said North line to the Northeast
corne of Outlot No. 54; thence South 070 12' 09" West,
1521�5teet along the East line of Outlot No. 54 to the
point of beginning containing 39.02 acres more or less
and subject to any easements of record.
together with all improvements thereon and appurtenances thereto.
The following terms, provisions and conditions are further
agreed to:
1. The total purchase price for the property is One Hundred
Seventy-Five Thousand Dollars ($175,000.00) payable upon delivery
of a General Warranty Deed by the Seller upon closing.
2. Conveyance of title to the property shall be by General
Warranty Deed executed by Seller.
3. Seller agrees to convey free and clear of all liens or
other encumbrances and the parties agree that Seller shall convey
good and merchantable title as defined by the title standards of
the Missouri Bar. The parties hereto agree that Buyer will, at its
own expense, purchase an Owner's Policy of Title Insurance on the
premises. In the event that Buyer's examination of the title
reveals any material defect in the title to the real estate, Buyer
shall so advise Seller in writing and Seller shall have thirty (30)
days from the date of advisement to correct said title. In the
event that Seller is unable to provide a good and marketable title,
then this contract shall, at the option of Buyer, be canceled. It
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is agreed by and between the parties that Seller shall convey the
property to Buyer free of any taxes to the date of consummation of
said purchase, but that the property is subject to easements of
record, if any, and with the further exception that parties agree
that all taxes accruing for calendar year in which the date of the
closing of the purchase under this contract shall fall shall be
pro -rated to Buyer and Seller as of the date of consummation of
said purchase.
4. This transaction shall be closed and settlement shall
occur hereunder at the office of the City Manager, 401
Independence, Cape Girardeau, Missouri, within sixty (60) days of
the execution of this agreement unless such closing date is
extended in order to address issues pertaining to the title as per
Paragraph 3 above.
5. The parties recite and agree that Seller currently owes
to Buyer the total of One Hundred Sixty -Nine Thousand Six Hundred
Eighty -Five Dollars and Fifty Cents ($169,685.50) principal plus
interest accrued to date on Special Tax Bill No. 6a, dated November
1, 1990, in the amount of Forty -One Thousand Six Hundred Eighty -
Seven Dollars ($41,687.00) for sewer improvements, Southwest and
Corporate Circle, Trunk Sewer District No. 14-2 and on Special Tax
Bill No. 3a, dated November 30, 1990, in the amount of One Hundred
Twenty -Seven Thousand Nine Hundred Ninety -Eight Dollars and Fifty
Cents ($127,998.50) for street improvements, Corporate Circle
Looping to and from Missouri Highway 74 in Outlot 61, U.S.P.S.
2199, a distance of 3,241.41 feet. The Seller agrees that
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contemporaneously with the execution and delivery of the Deed in
accordance with this Contract, Seller will pay said Tax Bills in
full, including all accrued interest and Buyer agrees that said Tax
Bills shall be canceled and shown as paid in full upon the records
of the City.
6. This Contract and the covenants and agreements herein
shall bind and inure to the benefit of the parties hereto, their
respective successors and assigns.
CITY OF CAPE GIRARDEAU, MISSOURI
ATTEST: . Ronald Fischer, City Manager
('11 -/j, -, /I I oil �)Ilt
Jul A. Dale, Deputy City Clerk
[SEAL]
ATTEST:
Earl H. Norman, Secretary
[Typed Name & Title of Signer]
[SEAL]
SIX THIRTY CORPORATION
Ernest H. Beussink, President
[Typed Name & Title of Signer]
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