HomeMy WebLinkAboutResolution 25-1994 RESOLUTION N0. 25-94
AUTHORIZIHG THE MAYOR TO SIGN THE PURCHASE AGREEMEHT FOR LOTS 1, lA, 2
AHD 3 OF BLOCK 4 OF THE ORIGINAL PLAT OF THE CITY OF BROOKINGS.
BE IT RESOLVED by the City Commission of the City of Brookings,
to hereby authorize the Mayor to sign the attached Purchase Agreement
for Lots 1, lA, 2 and 3 of Block 4 of the Original Plat of the City of
Brookings, South Dakota.
Passed and approved this 15th day f February 994.
Mayor
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F -��S - icer
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. . ' ` O�FER �ND AGR,EEME�iT TO PUftCHASE
James atric
2'he unde:signedSusan Gilley Pat,ri�er _ . ., acknowledges :eceipt of($ 1�0OO.OQ �
One thousant dollars and 00/100 -------=--------------------- G Cash �CChec!s
from thP �itv of Broo'l=-�,g,�,.$.2�h Dakc�ra . desi,:l�ted $uye",
as �deposii and earZest mor.s•% on the purcnase oi the prope:-:f '.�snown as 203 Front Street
in Brookinas South Dakota CLe�a1 Descr��tion: West 96 feet of_ Lots 1, lA,
2 3 �f RLnc''s 1 �f h 0 1��nal pl aT nf *_h .i tv of Arookines).
Owned by James Patric'� �*�d �,ug�n M Gilley-Patr�ck , design�ted Sefler.
TERIVIS �F 0:r:.R
1. The toLal sale price is Cc �� �.3 39 000 n n 1 Th i r�-n i nP thousand dollars and
inciudir.g no cents
2. 9fter earnest money ::�r�with is crediied, thc remaini_g �aiancc ut (S 38 , 000. 00 ,� th?rty-eiqht
thousand c�nl 1 arG an� nn,/i nn_____=is to �e �aid, xs-f�&ows,-�-�tfottaE-ca�ireowtrg�ytae:stai-
� 3�--+x-�Je=o�P�
in full at closinct on or bef�r�Ats��,�t- � 1 , i 994
S. Ii this oiier is conti:�g�::: upon Lhe buyer obtaining a �ew loan IFHr�,, 4: or Other? the bu�•er agrees to
immediately msxe ap�i:c.:�:on for snd diligently endea.�r to procure suc:: ?oan without de!av, and to sigz
the aote and mortgage •�::^in (�) five dsys after thep are rsadv,(not applicable)
4.Merchantable title shall be conveyed by Warranty Deed properly executed, with necessary .
transfer fee paid for recording by seller. The existing Abstract of Title shall be given ,
to the buyer as is. It need not be continued to date. Title insurance will be secured,
and the cost of title insurance shall be paid at the rate of 50$ buyer, 50$ seller.
�. Tases, (Based on the 19 9 3 Tax Levy), Insurance, Inceresz,and�eais if aay are to be pra*ated to closing
6. Posse�sion is to go to BL-2r Prior to 9/1/94 (exact date shall be set within two
weeks upon noti�ication ro� �he ��ller( � � to the ,bu�e�( s�
7. Broice= snallact as Esc_�:�* 3gent�or both �e er an uyer an it is agresa �:,at ro er s ail hoid �bove degosit
and bal�nca oi sale pric_ :or account of Seller until sale �hall be closed.
8, If this oifer is not accs?Led by the SeIler or if offe: is coniingNni upon 'ou;:er ootaining FH�, V� or other
loan and he is unable �c �ualify for or ootain such loan. thea thi� agreemeaz (ia either ca9e) shall be abrogated
aLd oi no �orce or eifcc� a�d 3uyer's earnest money snail be returned to hi.:t :a fuil.
9. Upon aporoval zad acce�:��ce of this A,�.reement by Se's?e: and in event Buyer shall not camplete the purchase
as he:ein agreed, Buye* �nail forieit the deposit made by him.
10, Other �rovisions
1 . Current o�.�er wi11 retain ownershio of the house on this lot.
2 Current o-.�rer caill cause the housz to be removed from this lot byA'uq:15�., 1994.
3 Current owner reserves the riQht to remove any or all of the
evergreen trees from the property prior to closing
11. T:�tis offe: is void if not ;cc�pted by ihe owner on or be:ore noon of the 1 5th day oI March , lg 94
� Dated at Brookings South Dakota this 1 Sth d�,y oZ February � ig 94
______—�
The foregoing:�greemer.: :s �pproved and Accepted th:s day of 19
Wayne schil Buycr Mayor
�z_2: Theo C. Kryger Finance Office
Selling Broker
$c
g�.i�� Salesman