HomeMy WebLinkAboutResolution 55-1996 . • �
RESOLUTION NO. 55-96
AUTHORIZING THE MAYOR TO SIGN A PURCHASE AGREEMENT WITH DEAN
AND HELEN CHRISTIE FOR A PORTION OF THE N1/2 OF THE NE1/4 SECTION 11-
T109N-RSOW
BE IT RESOLVED by the City Commission of the City of Brookings, to hereby authorize
the Mayor to sign a Purchase Agreement with Dean and Helen Christie for a portion of the N1/2,
NE1/4 of Section 11-T109-RSOW(approximately 58 acres) in Brookings County, South Dakota.
Passed and approved this l lth day of June 1996.
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Mayor
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Finance Officer
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REAL FSTATE PURCHASE AGREEMENT
THIS REAL FSTATE PURCIiASE AGREFMENT made and executed by and
between DEAN CHRISTIE and IiELFN CHRISTIE , husband and wife, ( here-
inafter sometimes referred to as "Sellers " ) and the CITY OF
aR00KINGS, SOUTH DAKOTA , a Municipal Corporation ( hereinafter �
sometimes referred to as "Buyer" ) .
WITNESSFTH:
In consideration of the covenants , provisions and terms of
this Agreement , t:he parties aforesaid mutually agree and cove-
nant as follows , to-wit :
1 , Real Property . Sellers hereby agree to sell to Buyer
and Buyer�iere �Ty- agrees to purchase from Sellers , the following
described real estate located in the County of Brookings , State
of South Dakota , to-wit :
The North One-half of the Northeast One-fourth
( N1/2NE1/4) of Section Eleven ( 11 ) , Township One Nundred
Nine ( l0y ) North , Range Fifty ( 50) West of the Fifth
Principal Meridian, County of Brookings , State of
South Dakota, except Outlot "M" and Outlot "C" , and
except the South Two Nundred Twenty-six Feet ( S 226 ' )
of the West One Thousand Two Hundred Thirteen and
one-half Feet (W 1 , ?13. 5 ' ) , and except I_ots Two ( 2)
and Three ( 3) of Christie Addition , and except the
North Two Hundred Eighty and five-tenths Feet
( N 28U . 5 ' ) of the Fast One Thousand Thirty-eight and
one-tenth Feet ( E 1 , 038 . 1 ' ) of the North One-half of
the Northeast One-fourth ( N1/2NE1/4 ) of Section Eleven
_ ( 11 ) , Township One Hundred Nine ( 109) North , Range
Fifty ( 50) West of the Fifth Principal Meridian ,
County of Brookings , State of South Dakota , con-
sisting of approximately 57 . 88 acres , more or less .
2 . The Purchase Price and Manner of Payment . The Buyer
agrees to pay Sellers an Sellers agree to accept from Buyer the
sum of $525 . 00 per acre , based upon a survey of the above
described property,
The Sellers shall be paid by Buyer as follows :
A . The sum of $200 . 00 as earnest money for this
transaction ,
B . The balance of the purchase price , based on a
purchase price of $525 . U0 per acre shall be
paid at Closing .
.� � '
3 . Contingency. The obligations of the Buyer under this
Agreement are contingent upon the following condition :
A. Sellers provide clear and marketahle title to the
above-described real property by Warranty Deed .
If the foregoing contingency is not satisfied by August
1 , 1996, then this Real Estate Purchase Agreement may be ter-
minated at the option of the Buyer and Sellers shall immediately
refund the earnest money paid herewith .
4 . Title . Sellers shall promptly request a Title Insurance
Policy based upon the estimated purchase price of $30, 400. 00, the
cost of which shall be divided equally between Buyer and Sellers .
In the event the Title Insurance Policy indicates any defects in
or objPctions to the title , the Sellers shall promptly clear the
title of defects and objections so specified on the Title Insur-
ance Policy. Title to be conveyed as provided in this Real Estate
Purchase Agreement shall be by Warranty Deed and shall be merchan-
tible title , free and clear of all liens , encumbrances and
restrictions , except easements and reservations of record .
5 . Real Estate Taxes . Sellers agree to pay the 1995 and
1996 real e`s�ate �axes a� assessments . Buyer shall be respon-
sible for any and all other taxes and assessments , if any, after
the date of Closing.
6 . Closing . The Closing of this purchase shall be held at
such place as may be mutually convenient for Sellers and Buyer,
as soon as title objections , if any, have been identified and
cleared .
7 . Possession . Sellers shall continue in possession of the
property unti�December 1 , 1996 .
8 . Risk of Loss . Risk of loss from any casualty upon the
property s�ia�—be Sellers until December 1 , 1996.
9 . ��Bind�_i�ng Effect . This Real Estate Purchase Agreement
shall bin ad nd—i-nure to the benefit of the heirs , administrators,
executors and successors of the respective parties . This Real
Estate Purchase Agreement may not be assigned by the City of
Brookings , except upon express consent of the Sellers .
10. Closing Documents . Sellers shall provide a Warranty Deed
to the rea property , subject to the reservations , exceptions and
easements of record . The property shall be free of liens and
mortgages , but may be s�abject to easements and reservations of
record .
-2-
11 . Rents . All rent fnr the yE�ar 1996 Sh�� ll remain the pro-
��erty of SeTlerS and sh,� ll not c�nstitutP t:l�e ,ub,ject matter of
tl� is Agreement .
1 ?_ . Miscellaneous .
A . the p►'oper• ty which is the subject nf this Real
Estate Purr,hase llgr-eement shall be surveyed prior to
Closing an�l the c�st of the survey shall be paid by
Quyer . TI�� s�irvPy sl�all be iased to compute the
total acreage to bP sold ta Buyer and the purr.hase
price shall he prn-rated based ��pc�n a purchase price
of g525 . (1U p?r acr•e multiplied by the exact acreage
as ci?termined by s� id siirvey.
13 . Entire A�reement . ThiS written Agreement constitutes
the complete Agre�ment fietween the parties and supersedes any
prior oral or written Agreement between t{ie parties regarding the
sub,ject matter of this Agreement , There �re no verbal agreements
that change this Agreem�nt an�l no waiver of its terms will be
effective unless s�icl� �re made ��nd execufie�l in writing and duly
acknowledgPd as re,ceive�l by thP parties .
.. �ate�1 this `_�_ d�y nF _ ---------• 1996 .
pFAN f,HR1StIE
_ . �.�c��___-��'___�..�:�;.,�u�".
S e� �P r ___._._
IIFLFN CHRISTIF
1�`-`�----�--------�^ —
Se11er•
CiTY �F BROOKiNGS , SOUTH D1IKOTA, Buyer
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