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CityMgrForm.741.01-17-1973
CITY MANAGER FORM ORDINANCE N0. ��'� AN ORDINANCE EXERCI5ING AN OPTION TO PURCHASE REAL ESTATE FOR PARK LAND KNOWN AS THE LEFARTH TRACT, APPROVING THE FORM OF AN ESCROW AGREEMENT, DEED OF TRUST AND IN5TALLMENT NOTE; GIVING AUTHORITY FOR THE MAYOR TO EXECUTE; AUTHORIZING THE PAYMENT OF THE INITIAL OPTION 5UM TO THE SELLERS , AND AUTHORIZING ANY OTHER ACTION5 NECESSARY TO COMPLETE THE PURCHASE OF THE LEFARTH TRACT FOR MUNICIPAL PARK PURPOSES WHEREA5, the City of Cape Girardeau, Missouri, has heretofore executed an Option to Purchase Real Estate for land known as the Lefarth Tract; and WHEREAS, this property is for park purposes and a Federal Grant has been approved to assist in the purchase of this real estate; and WHEREAS, the City of Cape Girardeau, Missouri, desires to exercise the Option to Purchase the said real estate; and WHEREAS, certain other documents and actions are necessary to complete the exercise of the Option to Purchase the real estate; NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CA.PE GIRARDEAU, MISSOURI , AS FOLLOW5: SECTION l. That the City Attorney of the City of Cape Girardeau, Missouri, is authorized to give Notice of the exercise of the Option to the Sellers of the tract as provided in the Option agreement dated December 15, 1971, and all such actions heretofore completed in connection therewith are hereby ratified. SECTION 2. That the Escrow Agreement between the City of Cape Girardeau, Missouri, and Joseph W. Lefarth, Mary Lefarth and Elizabeth Lefarth (Sister M. Redempta) , and Farmers and Merchants Bank of Cape Girardeau; the Deed of Trust between the City of Cape Girardeau, Missouri, and Rush H. Limbaugh, Sr. , and Joseph W. Lefarth, Mary Lefarth and Elizabeth Lefarth (Sister M. Redempta) ; and the Installment Note between the City of Cape �..; ti Girardeau, Missouri, and Joseph W. Lefarth, Mary Lefarth and Elizabeth Lefarth (Sister M. Redempta) , copies of which are attached hereto marked "Exhibit A - C" respeCtively, are approved in form, SECTION 3. That the Mayor of the City of Cape Girardeau, Missouri, is hereby authorized and directed to execute the documents described in 5ection 2 above, attached hereto marked "Exhibit A-C" respectively, for and on behalf of the City of Cape Girardeau, Missouri. SECTION 4 . Payment of the initial sum of Thirty-Four Thousand Two Hundred Twenty Dollars ($34,220.00) is hereby authorized to be made by the City of Cape Girardeau, Missouri, to the 5ellers, as provided in the Option and the Escrow Agreement. 5ECTION 5. That the appropriate City Officials are hereby authorized to take any other actions necessary to complete the exercise of the Option to Purchase the Real Estate heretofore executed December 15, 1971. SECTION 6 . This ordinance shall be in full force and effect ten days after its passage and approva PA55ED AND APPROVED THIS � DAY OF ���:c�-�—�--c-- , 1973. ✓��� �� �=���� MA.YOR ATTE5T: `�� � '�� �,�1 : .u�.� �ti� CITY CLE — 2 — � _ ' J... � . . '.- . . • . ... ,t.• � . - � . ♦ . I , . ' ra>{:�2��� .'�i�GRI:Tc:M�:1"' • ' . .� __w,._.._._,....r..____....,.......�.�.. x,. '�hi� �c�ree�nt, r.�ad� an� ent�r��� �.r�tc� t'�i� 29th c'a� , 4� ���cexntaer, 1�72, �y a�nd b�t�een �T��E�?� i,T. ����'�.��'?�, �h��tY a . LI�FA.�'�� ana ��Iu�,t3��Ft �.�:'�'X��tTs� (�i���r '��. �cc�Amrt�) , �.�c�ivi�?ua11y ,� • . . � .�;'�s��i as h�irs of �'rank ��a�rtt�, dec��.��c�, he.r�in�£�ar calle�� the � '�e11er�, the ���`I ��" C�3�.'� GTiRAR��:�t7, 3�iT���U?��, a z�unici�a�2 , _ ` '��t��a�tiQn, ��ra�n��tar c�ile� t�e �urc�as�r, �r�d the F7�Ri�R.� _ �} , ` ��� !�R���3Ti� �3�.'_rz� af t'a��► �i��.rc��►at�, '��:r�ina�t�r ca],larl the � . ; . �'� �sexaw Aqent; , ����r3�:S��:T�f: b �. r.� _.. • ,� �n cc�nsid�r.�ti.on o� tha �r�mi�e:� anc� m.�xtual coven�►nta � ccanta�.n�c� in z�n "t�z�ti�n �o P�trcha�� '���1 F�st�t�„ �atec� D��erabe� 15, � . . 1971., � co�a� o� �ahich �.� r�ttech�e� ?��x��a, r�u�r?���r3 �xh.!?�it "Au a�,c�`rnac� e �aart h�arao�, the p�r�ie� �er�t�a :��r�� a� �oll�c�°�s: � y : . ,1. � Th� ` xel3ers �ar��ith daliver t� th� ��craw �,�ent � . . - . a. �arrantu �p�e� dat�c� tt�� l�t �ay n� <7an���ry, 1�?�, �'rom ^e Il�ts i , to �urcha��e�z�:� for: . , �,3.1 0� �ut�.�at '.o. 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Purchaser an �.��<��e*� :-��:. �it��.� c�+x°p.i �3.r��� r_e� y���;.� sh�awinc� m�r.ctaantable titZ� v�:s�ec� in ���1•-��� e ���1.Ar� �nn t-�v�r.°�hr��:°�r uncl�r4ta�nr� anc� �gre�, j1OW�if�T's �1'!�.'� �,'4�'Y'�.•t�C�I+E�' °.G��%�:.�.�". , ',y`i.'�'�`f'•?" �5�. t'.�.�"? �`-i`<?�.�.�'�"4' £��.E9C� �.ntQs��at� i� t�� Ci�:�.y r�� �'�bnk� �'�r��:�i���.�,_�, -��_�,,.��cxr.�., �rz�r�is� �]., 1971, ownix�c� �4: �.h� �S.rre� nf � r����h a�r� �.r�tc����� �� L�nant i,�� cor�on �rith Sr11��� r�ahc� ��v� �i�t�.�g.���` h��° i�zte����;. �:c��:�r�� a� Ac�m�.�a3.stratiran tzpOn thA +��tar� c�f r��t�x'u�^ L�±f.ax�h t�+�re� :�rF,n���c� t� Jaset�h I�3. Lefa�t.h �+v th�+ C�tn.� G:�.:�,��c�e��r.� C�rtx't :�� �'��r,�sr, r�?�!a� .�ry S�est��ther �.j, �. EXHIBIT °A-� �9 . . �11�IlelA1� l�11!P�I I I 9I � e l�ep I •_ T?��„(T� °1'4dt_�e o. 1971, *�ahere thr� ����:�t� �� ���c�:��e�d i� �,�fi.n�; ,;.A���+�.*�iste�p��. It will �a the pur�ose c�` th� ��.min�str�.+:�r t:c� ��^rarl��e t?�� Admini�- tration r�f s�ic1 ��t�t� a�� r�o�n �.s r�oss�k�3.c�, �':�� �f��r;* n� wl1i�:�Z •a122 be to c�anf.��r ��.� ��r-� th�t th� ����*z��:��: s�'� ��'�.*� r��c�as��d is nvw v�stec3 in h�r r�rot'rx��� �nd :�i:���r P ���o �r� �he ��lZc�rs herein, �re+� an4� cic�ax° of ��.1 �1�ir.rs o� �r�dt�r��°� o� �he �ec�ase�. 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' r . . � Dr,ED OF T�2U,ST This Deed, Made and entered into this 29th day of December, 1972 , by and between the CITY OF CAP� GIRARDEAU, a municipal corporation of the State of Missouri, First Party; RUSH II. LIMBAUGH, 5�2. , Cape Girardeau �ounty, T�issouri, Second Party; and JO5EPH W. LEFARTH, I�1�1RY LE�'ARTH and ELIZA�ETH LEFA�.TH (Sister ��Z, Redempta) , Third Party; t,aITNESSETH: That the First Party, in consideration of the Debt and Trust hereinafter mentioned and created, and the sum of C�ne Dollar ($1. 00) to it paid by the Second Party, the receint of which is hereby acknowledged, does by these presents Grant, :�argain and Sell, Convey and Confirm unto the Second Party the followin,r described tract or parcel of land, situated in the County of Cape Girardeau, State of Missouri, to--wit: All of 0utlot No. 53 in U. S . Private Survey i1o. 2199 , T , 30 N. , R. 14 �. , in the Cit�� and County of Cape Girardeau, State of P�issouri , excepting therefrom any portion thereof lying in streets or raads , and excepting the followina r�escribed tract of land for a life estate: Start at an axis on the west line of ��;est �nd Boulevard and. the south line of Outlot No. 53; thenCe i�l . 81° 02 ' W. , along the south line of Outlot i�1o. 53, 1260 . 0 ieet to a stone; thence PJ. 8° 50 ' E . , 1065 .15 feet for a point of beginning; thence N. 8° 50 ' E . o and with the east line of �nlilson Road, 295.0 feet; thence S . 84° 45 ' E. , 397. 6 feet; thence S. 69° 57' E. , 419 . 1 feet; thence S . 3° 41 ° ��d. ► 187 . 7 feet; thence N. 84° 46 ' �4. , 826 . 3 feet to the point of beqinning, said tract containing 5.0 acres, the net area of land 1_zerein conveyed being 70 . 9 acres plus 5 acres excepted to be conveyed by operation of la�a when the life estate is terminated. To Have and to Hold the same with �he appurtenances thereto to Second Party and to his successors or successo.rs in this trust, and to the assigns of the same, forever, in Trust, however, for the following purposeso �aHEREA5, First Party has this day executed and delivered to Third Party its pron�issor_y note dated the 29th day of December, 1972, in the amount of One Hundred Fifty-Six Thousand Eight Hundred Eighty Dollars ($156, 880 . 00) principal without interest payable in installments as follo�as: `I'hirty-1`dine Thousand Two � � � � •� .. ���!'�,�� 7�" �� � Hundred Twenty Dollars ($39 , 220 . 00) on the day of , 19 , and the same amount on each day every year thereafter until fully paid; ' TaHEREAS, First Party covenants with Second Party to pay all assessments levied on said property before any penalty for nonpayment attaches thereto; and to abstain from any commission of waste upon the premises; Now, if the said note thereon be paid when due and payable, and said agreement as aforesaid be faithfully performed, then this Deed shall be void, and the pr_operty hereby conveyed shall be released at .the cost of First Party, but if default be made in the payment of said note when zt becomes due and paya�le, or if any of the above covenants be not kept and performed by First Part_y, then this Deed shall remain in full force and Second Party, or in case of his death, refusal to act, or absence from Cape Girardeau County, when authorized to sell under these presents, and a sale be desired by "the holder of said note, then the Sheriff of Cape Girardeau County, P2issouri, for the time being, who shall thereupon become his successor to the title to said property, and the same become vested in him in trust for the purposes and objects of these presents, and with all the powers , duties and obligations thereon, may proceed to sell the property hereinbefore described, or any part thereof, as selected by him at pL1b11C vendue, to the highest bidder, at �ape Girardeau, for cash, after first giving twenty (20) days ' public notice of the time, termso and place of sale, and of the property to be sold, by advertisement in some newspaper printed and published in Cape Girardeau County, r��issouri, and upon such sale shall exec.ute and deliver to the Purchaser or Purchasers thereof a deed in fee simple to the property sol� (a recital �herein of the giving of such notice, and in case such sheriff sell, of the happening of any of the aforesaid events making him successor herein as aforesaid, shall be prima facie proof thereof) , and receive the proceeds of said sale, out of which he shall pay first the cost and expense of executing this trust, including the com�ensation of the trustee for his services , - 2 - . . , then any advances secured by this instrument as above provided, and then all interest due on the note, and then the principal of the said note, and the renainder, if any, shall be paid to the said First Party, or its legal representatives. 5econd Party covenants faithf_ull� to perform and fulfill the trust herein cr�ated. IN T�aITNE55 T�VHERE�F, the First Party has affixed its signature hereto, the day and year first above written. CITY OF �APE GIR.ARDEAU, MISSOURI - 1 By ,>� ,, , ,��-;:.� -.�_;_.� C.- _�--�.` Howard C. TooY e, Mayor ATTE5T: City Clerk STATE OF MISSOURI ) ) ss . COUNTY OF CAPE GIR.A.RDEAU ) On this day of , 19 , before me appeared HOWARD C, TOOKE, to me personally known, who, being by me duly sworn, did say that he is the AZayor of the City of Cape Girardeau, a municipal corporation of the State of Missouri, and that the seal affixed to the foregoing instrument is the seal of said City and that the said instrument was signec� and sealed in behalf of said City by authority of its Ci�y Council and acknowledged said instrument to be the free act and deed of said City. IN TESTIMONY WHEREOF, I have hereunto set ray hand and affixed my official seal, at my office in Cape Girardeau, Missouri, the day and year first above written. ; Notary Publicr My Commission Expires: - 3 - . _ - � . TNSTALLMENT NOT� $15.6; 880. 00 Cape �irardeau, Missouri December 29 , 1972 . For value receive�., the City of Cape Girardeau, �Iissouri, promises to nay to the order of �oseph �a. Lefarich, Mary Lefarth and Elizabeth Lef�,rth (Sister P![. Redempta) the sum of One Hundred Fifty-Six Thousand Eight Hundred Eighty Dollars ($156 , 880 . 00) principal without interest in installments as follo�ass Thirty-1rTine Thousand Two Hundred Twenty Dollars ($39 , 220 . 40? on or before the 30th day of December, 1973 , and the same amount on or before the same day each year thereafter until full� �aid. If default be mad.e in the payment of an installment and said installment remains overdue and unpaid for more than sixty (60) days after written notice to the City of Cape �irardeau that said principal is overdue and unpaid, then the principal shall become immediately due and payable at the option of the holder of this Note. The makers, sureties , endorsers and guarantors of this Vote severally �aaive presentment for payment, notice of non-payment, protest, and notice of �rotest and diligence in bringing suit against any party hereto, and consent that ti?rme of payment may be extended without notice thereof; and further severally agree that in case payment of this Note shall not be made at maturity and the same is placed in the hands of an attorney at law for collection, to pay the costs of collecting this notice, includina, an attorney' s fee of ten percent (10%) of the principal and interest hereof remaining unpaid. � Payable at Farmers and Merchants Bank, Cape Girardeau, Missouri . CITY OF C.A.PE GIRARDEAU, MISSOURI By a �^%�-`�`�t s��� �__� �,/i ,��_.�__ Howard C . Tooke, Mayor ATTEST: City C lerk d� � ,r' ,�;, E . .� l