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Sale of Property at 2521 Stafford Street_Hearing Copyright 2014 City of Dubuque Public Hearings # 4. ITEM TITLE: Sale of Property at 2521 Stafford Street SUMMARY: Proof of publication on notice of public hearing to approve a Purchase Agreement and Special Warranty Deed for the sale of City Owned real estate at 2521 Stafford Street to Sheonna D. Bond and City Manager recommending approval. RESOLUTION Disposing of City Interest in Real Property Located at 2521 Stafford Street, in the City of Dubuque, Iowa SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Adopt Resolution(s) ATTACHMENTS: Description Type ❑ Sale of 2521 Stafford-MVM Memo City Manager Memo ❑ Memo Staff Memo ❑ Resolution Resolutions ❑ Purchase Contract Supporting Documentation ❑ Warranty Deed Supporting Documentation ❑ Proof of Publication Sale of Property to Sheonna D Bond Supporting Documentation THE CITY OF Dubuque UBE I erica .i Masterpiece on the Mississippi 2007-2012-2013 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Sale of City-Owned Property at 2521 Stafford Street DATE: May 11, 2015 Housing & Community Development Department Director Alvin Nash recommends the City Council approve a Purchase Agreement and Special Warranty Deed for the sale of City-owned real estate at 2521 Stafford Street to Sheonna D. Bond for the appraised value of $130,000. Ms. Bond will obtain a first mortgage from Ruhl Mortgage and financing from the City in the amount of$25,000.00, as follows: $5,000.00 5-year forgivable loan; a $10,000.00 loan that is due on the sale of property; and a $10,000.00 loan that is due at $42/month with 0% interest. I concur with the recommendation and respectfully request Mayor and City Council approval. Mic ael C. Van Milligen MCVM:jh Attachment cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager Teri Goodmann, Assistant City Manager Alvin Nash, Housing and Community Development Department Director THE CITY OF Dubuque DUB 1114mericaCi y 1111. Masterpiece on the Mississippi 2007.2012.2013 TO: Michael Van Milligen, City Manager FROM: Alvin Nash, Housing & Community Development SUBJECT: Sale of City-owned property at 2521 Stafford Street DATE: May 12, 2015 Introduction The purpose of this memorandum is to request approval of the attached purchase agreement and special warranty deed for the sale of City owned property at 2521 Stafford Street. Discussion On May 4, 2015, the City Council, passed Resolution No.151-15 declaring its intent to dispose of City-owned property at 2521 Stafford Street. The previous property owner abandoned the property in 2007 and eventually transferred ownership to the City in 2009. The City began cleaning and rehabilitating the property in 2010. Broken pipes were discovered throughout the whole property. Lead based paint was on the windows. We utilized the Lead Program to lessen costs. The final cost of this total rehab project is approximately $108,700.00. The project was finally completed in 2014, and the property has been for sale since then. Sheonna D. Bond has offered $130,000.00 to purchase the property at 2521 Stafford Street. This offer is consistent with an independent appraisal of the property. Ms. Bond is income qualified, and this sale increases owner-occupancy in the neighborhood and places the property back on the tax roll. Ms. Bond will obtain a first mortgage from Ruhl Mortgage and financing from the City in the amount of $25,000.00, as follows: $5,000.00 5-year forgivable loan; a $10,000.00 loan that is due on the sale of property; and a $10,000.00 loan that is due at $42/month with 0% interest. Action Step I request that the City Council passes, approves, and adopts the attached resolution approving purchase agreement and deed for the sale of 2521 Stafford Street. 111211111111111111111111111111 Doc ID008265650005 Type' GEN Kind: DEED WITH RESOLUTION Recorded: 06/22/2015 at 03:41:19 PM Fee Amt: $32.00 Page 1 of 5 Revenue Tax: $0.00 Dubuque County Iowa John Murphy Recorder File2015-00007968 Prepared by: Maureen A. Quann 300 Main Street, Suite 330, Dubuque IA 52001 563 589-4381 Return to: Maureen A. Quann 300 Main Street, Suite 330, Dubuque IA 52001 563 589-4381 Tax Statement to: Sheonna Bond 2521 Stafford Street Dubuque, Iowa 52001 SPECIAL WARRANTY DEED KNOW ALL MEN BY THESE PRESENTS: that the City of Dubuque, Iowa, a municipal corporation of the State of Iowa (Grantor), in consideration of the Grantee named below, and other good and valuable consideration, and pursuant to the authority of Chapter 403, Code of Iowa, does hereby GRANT, SELL, AND CONVEY unto Sheonna D. Bond, a single person, the following legally described real estate situated in the County of Dubuque, State of Iowa, to wit (the Property): Lot Two (2) of Lot One (1) and the East One -Half (E %) of Lot Four (4) of Lot two (2) both in Geiger's Subdivision, in the City of Dubuque, County, Dubuque, Iowa, according to the recorded plat thereof. This Deed is exempt from transfer tax pursuant to Iowa Code Section 428A.2(6). This Deed is given pursuant to the authority of Resolution No. 173-15 of the City Council of the City of Dubuque adopted the 18th day of May, 2015, the terms and conditions thereof, if any, having been fulfilled. Grantor hereby covenants to warrant and defend the said premises against the lawful claims of all persons whomsoever claiming by, through and under it. Dated this 18th day of May, 2015 at Dubuque, Iowa. CITY OF DUBUQUE IOWA By: Lynn V. S tton, Mayor Pro Tem 01,027,00 310 ciida- Attest: By: Kevifi S. ArnstaK, City'Clerk STATE OF IOWA SS COUNTY OF DUBUQUE On this 18th day of May, 2015, before me a Notary Public in and for said County, personally appeared Lynn V. Sutton and Kevin S. Firnstahl to me personally known, who being duly sworn, did say that they are the Mayor Pro Tern and City Clerk, respectively of the City of Dubuque, Iowa, a Municipal Corporation, created and existing under the laws of the State of Iowa, and that the seal affixed to the foregoing instrument is the seal of said Municipal Corporation, and that said instrument was signed and sealed on behalf of said Municipal Corporation by authority and resolution of its City Council and said Mayor and City Clerk acknowledged said instrument to be the free act and deed of said Municipal Corporation by it voluntarily executed. .......— TRISH L.GLEASON Commission Number 719986 M Commission Expires Notary Public in and for Dubuque County, Iowa -111 Prepared by:Kris Neyen,350 W.6th Street,Dubuque IA 52001 563 589-4239 Retum to:Kris Neyen,350 W.6th Street, Dubuque IA 52001 563 589-4239 RESOLUTION NO. 173-15 DISPOSING OF CITY INTEREST IN REAL PROPERTY LOCATED AT 2521 STAFFORD STREET, IN THE CITY OF DUBUQUE, IOWA Whereas, the City Council, by Resolution No. 151-15, dated May 4, 2015, declared its intent to dispose of City interest in real property located at 2521 Stafford Street, legally described as: Lot Two (2) of Lot One (1) and the East One-Half (E Y2)of Lot Four (4) of Lot Two (2) both in Geiger's Subdivision, in the City of Dubuque, County, Dubuque, Iowa, according to the recorded plat thereof (the Property); and Whereas, pursuant to published notice, a public hearing was held on the proposed disposition on May 18, 2015 at 6:30 p.m. in the Historic Federal Building, 350 W. 6th Street, Dubuque, Iowa; and Whereas, it is the determination of the City Council that approval of the purchase agreement for the sale to Sheonna D. Bond according to the terms and conditions set out in the purchase agreement is in the public interest of the City of Dubuque. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA; Section 1. The purchase agreement by and between the City of Dubuque and Sheonna D. Bond for the sale of the Property, a copy attached hereto, is hereby approved. Section 2. The Mayor and City Clerk are hereby authorized and directed to execute and deliver a Special Warranty Deed, conveying the City's interest in the Property to Sheonna D. Bond. Section 3. That the City Clerk is hereby authorized and directed to cause said Special Warranty Deed to be recorded in the Office of the Dubuque County Recorder, together with a certified copy of the Resolution. Passed, approved, and adopted this 18th day of May, 2015. A INVV"-, V AZ Linn V. Suttoff,.-Mayor Pro Tern Attest: Kevin'S(Fi-m-s-tahl, City Cl6f-k CERTIFICATE of the CITY CLERK STATE OF IOWA ) SS: COUNTY OF DUBUQUE ) I, Kevin S. Firnstahl, do hereby certify that I am the duly appointed, qualified, City Clerk of the City of Dubuque, Iowa, in the County aforesaid, and as such City Clerk, I have in my possession or have access to the records of the proceedings of the City Council. I do further state that the hereto attached Resolution No. 173-15 is a true and correct copy of the original. In Testimony Whereof, I hereunto set my hand and official seal of the City of Dubuque, Iowa. Dated at Dubuque, Iowa, on this 19th day of May, 2015. r a y Kevin S. Firnstahl, CM , City Clerk 4 t `pUc6 ! °(SEAL),..,'°�; o t 01 t f Ruhl I il=tEA11~TO R^S► DBR I PURCHASE CONTRACT Page I of 4 Pages THIS IS A LEGAL BINDING DOCUMENT IF NOT UNDERSTOOD SEEK LEGAL ADY' DATE OF OFFER)' / / IJP AGENCY RELATIONSHIP NOTIFICATION/CONFIR:vIATION 1. This document is prepared by: f) UI? NC AS AGENT FOR firm name/agent name 2. (Check one) ❑Seller Exclusively Buyer Exclusively❑Both Buyer and Seller(Dual Agency), 3. or 4. Buyer and Seller confirm that written disclosures of agency representation were provided to them,they understand 5. who is representing them and the disclosures were provided prior to signing this Offer For Real Estate. 6. DOCUMENTS ATTACHED TO THIS PURCHASE CONTRACT 7. Agency/Policy Disclosure and Dual Agency Potential/Consent Agreement 8. Rr] cad Base Paint Disclosure §:S.eller Disclosure of Property Condition 9. pection Addendum Sle Contingency 10. Addendum to Purchase ❑ Rental Addendum 11. ❑IL Radon Disclosure ❑ Other Documents/Attachments: 12. 13.OFFER TO: 0 ITJ (�, 1/60 (herein designated as SELLER) Seller Names 14.The undersigned [)I�)N , ��t�J� (herein designated as BUYER) Buyer names 15. Hereby propose to purchase your property known as: fiW()� r �J j Address 16• ty4'+� A __,Ii1 I and agrees to pay you the sum of: 17. ON E lit 1 N�7a b T)( tj HOUS1� State ZIP - - - - -® �� C>t,l..Ai2,.5 (Amount in Writing) 18. 5 iI ,0� as follows:$ earnest money to be held in trust by Listing Broker(unless otherwise M agreed). Earnest money shall be increased to 5 F'"' within days of acceptance and again held in trust 20. by the Listing Broker(unless otherwise agreed). In the event of satisfaction of both Buyer and Seller contingencies herein, 21, the earnest money deposits and balance of the purchase price shall be delivered to Seller at settlement. In the event either 22. Buyer or Sellers' contingencies or obligations herein are not satisfied,the earnest money shall be distributed in 23. accordance with the paragraph entitled"Remedies of the Parties". 24. The Purchase Price is be paid as follows:(Check the Appropriate Box(s)) 25. ❑CASH to be paid on settlement date. This offer is not contingent upon Buyer obtaining financing. Seller has 26. rig t to receive immediate verification of funds. 27. FINANCING This contract is contingent upon the Buyer obtaining a written commitment for financing with 28, terms as provided in lines 36-38 of this contract. 29. ❑ Conventional 30. ❑ Conventional Insured 31. 2r FHA-must attach FHA/VA Amendatory Clauses Real Estate Certification 32. ❑ VA-must attach FHANA Amendatory Clauses Real Estate Certification 33. ❑ Land Contract(terms as follows) 34. MOTHER 35. DOWNPAYi4IENT (%)percent(or)S 36. INTEREST RATE not to exceed: q.0 �..%per annum 37.TERM OF MORTGAGE/LOAN -55L years. 38. DATE FOR FINANCING CONTINGENCY RELEASE: 0"--/ Ian 157 39. If Buyer does not make timely delivery of said contingency release,then Seller may terminate this offer by written 40. notice to Buyer. 41. PRE-APPROVAL LETTER(check one) attached❑delivered by_!/_❑Other 42.All usual costs incurred in securing such mortgage shall be paid by the Buyer except 43. 44.OTHER TERMS/CONTINGENCIES BUYER INITIAL,'_ INITIAL SELLER INI A INITIAL I Page 2 of 4 Pages PROPERTY hf �*--2 1 t'J� 1 Address City State ZIP 45. Broker may continue to offer and show the property for sale and Seller may accept backup offers until settlement. 46. SETTLEMENT.Settlement shall occur and legal possession shall bei ven on or before Date: 47. OCCUPANCY. Occupancy shall be given to Buyer(choose one)Vat settlement,or❑ Date:,l l 48.THIS AGREEMENT IS ALSO SUBJECT TO THE FOLLOWING TERNIS AND CONDITIONS: 49,TRUST PAYMENTS. It is agreed that at time of settlement, funds,up to the purchase price,received from the 50. Buyer and/or Buyer's lender may be used to pay taxes,other liens and expenses associated with this 51.transaction,same to be handled under the supervision of the Listing Broker so as to produce marketable title. 52.Seller hereby appoints the Listing Broker,escrow company or lender to receive such funds and make such 53,payments and disbursements. 54. REAL ESTATE TAXES,SPECIAL ASSESSMENTS,AND CHARGES 55.Unless otherwise agreed to in writing,all Real Estate taxes due and payable prior to and including the settlement date will 56,be paid by the Seller.Any taxes that cannot be paid to the Treasurer at the time of settlement will be pro-rated between the 57.Seller and the Buyer. Any such pro-rates will be based on current millage rates,current roll backs,and current assessed 58.values as certified by the appropriate taxing authority. All Real Estate Taxes due and payable after the settlement date will 59.be paid by the Buyer. All special assessments that constitute a lien at the time of settlement of this offer are to be paid by 60.Seller.All charges for solid~waste removal,utilities,and assessments for maintenance attributable to Seller's 61. possession are to be paid by Seller,All liens caused by Seller(s)ownership,such as mechanics liens,mowing,snow 62. removal,etc,are to be paid by Seller.All subsequent taxes and special assessments are to be paid by Buyer.Interest,rents, 63.homeowners' association dues and assessments,unused fuels and other appropriate charges shall be prorated as of 64, the date of settlement. Accrued income and expenses,including taxes for the day of closing,shall accrue to the 65.Seller. 66. INSURANCE.Seller shall bear the risk of loss or damage to property prior to settlement or possession,whichever 67. first occurs.Seller agrees to maintain existing insurance, and Buyer may purchase additional insurance. In the 68.event of damage to the property prior to settlement in an amount of not more than 5 percent of the selling price 69.Seller will be obligated to repair the property and restore it to the same condition that it was on the date of this 70,offer. If the damage should exceed this amount,Seller shall promptly notify Buyer in writing of the damage and 71,this offer may be cancelled at the option of the Buyer.Should the Buyer elect to complete the transaction despite 72.such damage,Buyer will be entitled to the insurance proceeds relating to the damage. plus a credit towards the 73.purchase price equal to the amount of the Seller's deductible on such policy.However,if the sale is financed by a 74.land contract or a mortgage to Seller,the insurance proceeds shall be held in trust for the sole purpose of restoring 75.the property. 76. INCLUDED PROPERTY(if any).All property that integrally belongs to,are specifically adapted to,or is part 77.of the real estate(except rental items),whether attached or detached,such as but not limited to,wall to wail 78,carpeting and vinyl,light fixtures and bulbs,ceiling fan(s),mirrors,shelving,shades,rods,blinds,awnings, 79.shutters,storm windows,storm doors,screens,plumbing fixtures,automatic heating equipment,air conditioning 80,equipment(except window),door chimes,alarm devices,built-in items and electrical service cable/fencing,garage 81.door opener and control(s),other attached fixtures,radio and/or attached TV receiving equipment,fencing,trces, 82. bushes,shrubs,plants,garden bulbs, water heaters and softeners,sump pumps,attached or fitted floor coverings, 83. installed security systems,central vacuum systems and accessories, in-grround lawn sprinkler systems and 84.component parts, built in appliances, fences, fireplace screen, fire grate and attached equipment,appurtenant 85,structures or equipment,storage buildings,and rural water membership shall be considered a part of real estate and 86. included in this sale.OTHER INCLUDED ITEMS: 87, 88, 89. EXCLUDED PROPERTY AND RENTAL ITEMS(i.e.water softener,LP or other gas tank): 90. BUYER INITIAL `�'y,.� INITIAL SELLER ItiITIA CIA&ITIAL 93.must respond to all questions of the parties; however they are not required to discover hidden defects or give 94.advice on matters outside the scop•-f their real estate license; make no(and Seller and F r are not relying 95,upon) representations or warr•anti I to the physical or mechanical condition of the prop- .y, its size,value, 96. future value, income potential, whether the basement is waterproof,etc.; are not qualified to advise on questions 97,concerning the condition of the property,the legal sufficiency, legal effect or tax consequences of this document 98.or transaction. For such matters,Seller and Buyer are advised to consult the appropriate professional(s). 99.Seller and Buyer acknowledge that the Seller of real property has a legal duty to disclose in good faith material I00.adverse facts and material defects of,vhich Seller has actual knowledge and which a reasonable inspection by 101.Buyer would not reveal. Buyer has the right to obtain inspections,survey and measurements at Buyer's 102.expense.Buyer is advised to request that special provisions be written into this contract prior to signing,to cover 103.any and all conditions which Buyer might consider to be questionable or problematical(whether such be 104.inspection for termites,drainage,water and soil conditions,adequacy of structure or any components,zoning, 105.boundaries,utility connections,or any other matters). By acceptance of the Offer,the Seller warrants and 106.represents:That Seller has disclosed notice or knowledge ofany planned public improvement which may result in 107special assessments or other liens,that no government agency has served any notice requiring repair,alterations or 108.corrections of any existing conditions not previously disclosed.This representation of Seller shall survive the 109.settlement of this transaction. 1.10.JOINT TENANCY IN PROCEEDS AND IN SECURITY RIGHTS IN REAL ESTATE. If Seller, 111. immediately preceding this offer,holds title to the property in joint tenancy,and such joint tenancy is not later if 2,destroyed by operation of law or by acts of Seller,then the proceeds of this sale,and any continuing and/or 113.recaptured rights of Seller in real estate shall be and continue in Seller as joint tenants with rights of survivorship 114.and not as tenants in common;and Buyer in the event of the death of either Seller agree to pay any balance of the 115,proceeds of this sale to the surviving Seller and to accept deed from such surviving Seller. 116.CONDITION OF PROPERTY. Seller agrees to remove all debris and all personal property not included herein from the it 7,property by possession date unless there is a prior written agreement by the parties.The property shall be delivered to 118.Buyer on die date stipulated above swept and vacuumed and ready for occupancy.At a reasonable time before settlement 119.as pre-approved by the Seller or Seller's agent,the Buyer shall have the right to inspect the property to determine that there 120.has been no significant change in the condition of the property,except for ordinary wear and tear and changes approved by 121.the Buyer,and any defects Seller has elected to cure have been repaired in a good workman like manner. 122.SURVEV. Buyer may,prior to settlement,have the property surveyed at Buyer's expense. if Buyers elects to 123.have the property surveyed,Buyer will have the survey completed at least seven(7)business days prior to the 124.scheduled settlement. If the survey,certified by a Registered Land Surveyor,shows any encroachment on 125.property,or if any improvements located on the subject property encroach on lands of others,such encroachments 1.26.shall be treated as a title defect. 127,11EItiIEDIES OF THE PARTIES-FORFEITURE- FORECLOSURE 128. If Seller fails to fulfill this agreement,Buyer shall have the right to have all earnest payments returned to the Buyer. 129.If Buyer fails to fulfill this agreement,all payments by Buyer may be forfeited and retained by Seller as provided in the 130.Laws of the state in which the property is Located. In addition to the foregoing remedies,Buyer and Seller each shall be 13 Lentitled to any and all other remedies,or action at law or in equity,including foreclosure and the party at fault shall pay 132.costs and attorney fees;and a receiver may be appointed. 133.ABSTRACT AND TITLE. Seller shall furnish Buyer an abstract of title,or policy of title insurance,in 134.conformity with this agreement and land title law of the State. If abstract does not show good merchantable 135.title to said property, tree and clear of all liens and encumbrances,not expressly waived or assumed by the Buyer, 136.Seller shall correct defects in title before settlement is made. Municipal building codes and zoning ordinance or 137.mineral reservations and public easements shall not be construed as tide encumbrances. Seller shall pay costs of 138.additional abstracting and,/or title work due to act or omission of Seller, including transfers by death of Seller 139.or assigns. Marketable title to be established by the existing land law and title standard of the state in which 140.the property is located. BUYER INITIAL INITIAL_ SELLER INITI �LINITIAL Page 4 of 4 Pages PROPERTY � / �G� f. �( 46)r Address City U State ZIP 141 COURT APPROVAL, If the property is an asset of any estate,trust,conservatorship,or receivership,this 142.contract shall be subject to Court approval,unless declared unnecessary by Buyer.If necessary,the appropriate 143.fiduciary shall proceed promptly and diligently to bring the matter on for hearing for Court approval. In this event 144.a Court Officer's Deed shall be used. 145.DEED.Upon payment of purchase price,Seller shall convey title by warranty deed or other instrument that is 146,required by Buyer's attorney. 147.GENERAL PROVISIONS, In the performance of each part ofthis agreement,time shall be of the essence.This 148.agreemem shall be binding on and inure to the benefit of the heirs,executors,administrators,assigns and 149.successors in interest of the respective parties.This agreement shall survive the settlement.Paragraph headings 1 i0.are for the convenience of reference and shall not limit nor affect the meaning of this agreement. Words and 1.5Lphrases herein,including any acknowledgement hereof,shall be construed as in the singular or plural number,and 152.as masculine, feminine or neuter gender,according to the context. 153.NOTICE. Any notice required under this Agreement shall be deemed delivered when it is received or provided 154.either by hand delivery, facsimile,electronic communication or certified mail. Persons designated for receipt or to 155.give any notice shall be Seller(s)and Buyer(s)at the addresses set forth below or their Broker or Agent. t56.Electronic or facsimile transmission sent to the other party or to the appropriate Broker, followed by electronic or 157.11axed acknowledgement orreceipt,shall constitute delivery of signed document. 158.ENTiRE AGREEMENT.This document and attachments contains the entire agreement of the parties and supersedes all 159.prior offers with respect to the property.This Offer may be modified only by a written agreement signed and dated by 160.both parties.This Offer for Real Estate shall not be assigned by Buyer without the written consent of Seller, 161MEDIATION. In the event ofa dispute,Buyer and Seller agree to consider mediation as an alternative to 162.initiating legal action.The mediation will be conducted in accordance with the rules and procedures of a mutually 163.agreed mediation sen•ice. Even when utilizing mediation,parties may still seek legal remedies. 164.ACCEPTANCE. When accepted,this offer shat I become a binding contract for the sale and purchase of the t65.above described property and the professional service fee(s)shall be due to the Agent(s)in accordance with the t66.Exclusive Listing Agreement, Buyer Agency Agreement or other written commission agreement,between either 167.party or their Agent(s).This Offer shall not negate or change any ofthe conditions or terms of said Agreement(s), 168.which, by this reference shall remain in full force and eff.e�jct through the settlement.. 169.If this offer is not accepted by Seller on or before— ,❑a.m.or( "p.tn. Date: - &2// / he offer shall 170,become null and void and the initial payment shall be repaid to Buyer without liability on the part of said 171.Agent(s)to either party, t72.This offer was presented to Seller by es C�F 2'a rn,or® p.m. Date: 7—��� 173. le foregoing offer is (check one): A CCEPTE CTE RED (auyer'sgnature)`, + DATE. (Seller"sSignature) DATE (Print name here) (Print name here) (Buyer's Signature) DATE (Seller's Signature) DATE (Print name here) (Print name here) AddressPHONE Address PHONE d A 61V L QS T City State ZIP Cine State ZIP E-r 11 FAX E-mail FAX f (Sellin 4;ent) Office (Listing Age f Oi'fite DBR I 7'10 Q''Copyright 2010 Dubuque Multiple Listing Service for Member Use Only M-\Real Estate Forms•Master Docs\Purchase Agreement—Dubuque 8/11 03 . rA'rt.. 'ws «Uw DBR6 ADDENDUM TO PURCHASE CONTRACT (ATTACHED TO PURCHASE CONTRACT) Seller: Beyer:A, S2h/nIa �. vAJ c� Address of Property Bein urchased: Address Cit y State ZIP Date of Offer for Real Estate:�i171- h the undersigned Buyer and Seller hereby agree to the following: '7-6 (✓ � I.I F'i!/C F L I Y� Q-/l/ /l�/!Y /9 bar 1 . 9 11J I J7!/"5 6 (7V P F l RnM AS; C#A SC)C� i Nt TO The herein agreement, upon its execution by both parties, is herewith made an int rat part of the aforeme 'oned Purchase Contract. All other contract terms aree'tq-e the e. Buye Date fi// iSeller �/ ,� Date ,. n � Buyer Date—/—/—Seller Date_/ Agent lDate 4/ /7 AgentL� 4ate / DBR 6040opyright _0 2010 Dubuque Nlultiple Listing Services,Inc. For Member use Only Ruhl Purchase Agreement Addendum - FHANA &Ruhl TORS Amendatory pauses This rider is attached and made part of the Real Estate Contract dated 4 1 7i Ls (herein "Contract"), between: Buyer(s): S,WC 4t4 A i) • Bc)w fl Seller(s): for the property located at: 4'5`c3?1 57`ftFfVp.6 ST' 7Ju`l3LGuL /f- 5 �1 Street City State Zip FHA Amendatory Clause "It is expressly agreed that notwithstanding any other provisions of this Contract, the purchaser shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture of earnest money deposits or otherwise unless the purchaser has been given in accordance with HUD/FHA requirements a written statement by the Federal Housing Commissioner or Direct Endorsement lender setting forth the appraised value of the property of not less than $ 150,bo " . The purchaser shall have the option of proceeding with consummation of the contract without regard to the amount of the appraised valuation, at their sole discretion. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban Development will insure. Both parties understand that HUD does not warrant the value nor the condition of the property. The urcha r should satisfy him, Wherself that the price and condition of the property are accepta e7"` uyer Date Seller Date Buyer Date Seller Date VA Amendatory Clause "It is expressly agreed that,notwithstanding any other provisions of this Contract,the purchaser shall not incur any penalty by forfeiture of earnest money or otherwise be obligated to complete the purchase of the property described herein, if the Contract purchase price or cost exceeds the reasonabl.e value of the property established by the VA. The purchaser shall have the option, at the buyer's sole discretion, of proceeding with the consummation oft Contr without regard to the amount of the reasonable value established by the VA." ��� ////Z �"10 Buyer Date Seller Dae Buyer Date Seller Date Real Estate Certification We the undersigned, the seller(s), the purchaser(s),and the broker(s) involved in this transaction,each certify that the terms of the Contract for purchase are true to his/her best knowledge and belief and that any other agreem en red into by any of these parties in connection with this transaction is attached to the sales a ent. Buyer Date Seller Date Buyer Date Seller Date Selling Broker Date Listing Broker Date Copyright 2009 QCARA M:Real Estate Master Docs/Purrhnao,4grocmrerg tddendmir•FHA and 1.1 Chntmia 03 11 Rider Na I Ruhl &Ruhl 1:21 /MAL®ORSPIMP/iVMili DBR 7 INSPECTION ADDENDUM Page I of 3 Pages RE: PURCHASE CONTRACT,dated'/J1_/_,5__ by and between the undersigned Buyer and Seller concerning the real estate commonly known as: 5t 61113elcl&6 Street City State ZIP THIS SECTION MUST BE READ, UNDERSTOOD AND INITIALED These Inspections only cover conditions of the property not previously disclosed. They are not to be construed as inspections to bring an older home into compliance with current local building codes. They are only intended to discover any major structural,mechanical,safety and health related issues and defects. Notwithstanding the foregoing,Buyer and Seller agree that if the inspection report describes a condition of the property as one which can be remedied by routine maintenance or normal servicing,such condition shall not constitute grounds for termination of the Purchase Contract. Additionally,with respect to the items noted in said inspection reports to have reached or exceeded normal useful life,so long as such items are in working order,such condition(s)shall not be a basis for finding that said items are in a defective condition,and Seller shall not be required to repair or replace such items,and said conditions(s)shall not constitute grounds for termination of the Purchase Contract. If Buyer does not complete any of the inspections within the time frames agreed to,they are deemed to accept the property in "As Is" condition relative to that inspection.A copy of this inspection addendum may be provided to any inspector prior to the start of any inspection. NOTE:Inspections required by FHA,VA or lender do not eliminate the need for other inspections. We the undersigned have read and understand the information in the section above and agree by providing our initials. BUYER INITIAL INITIAL SELLER INI INITIAL CHECK ONE _-- 1. HOINSPECTION a. [ With written acceptance of said Purchase Contract, Buyer shall have the right to conduct a home inspection,at the Buyer's expense by a qualified independent inspector,Or other specific inspection Inspection will be completed,report received and delivered to Seller along with the Response to Inspection Report. (CHOOSE ONE) 1.On or before_/ /—, 2. Within days after 6fr6R At0rP,7,4d b. [ ] Buyer has been afforded the opportunity to have a Home Inspection. However, Buyer hereby waives his/her right to to have a home inspection and relies upon his/her own determination as to the condition of said property. Further, Buyer releases the Seller,Broker,Salesperson and all other persons associated with the transfer of real estate from any and all liability relating to any defect or deficiency affecting the property. This waiver shall survive the closing. 2. RADON–(See IDPH pamphlet Iowa Radon Nome-Buyers and Sellers Fact Street or visit www.eoa.eov/radon) a. [V] With written acceptance of said Purchase Contract, Buyer shall have the right to conduct a Radon Inspection at Buyer's expense,to be performed by a licensed Radon Inspector. Inspection will be completed,report received and delivered to Seller along with the Response to Inspection Report. (CHOOSE ONE) 1.On or before J/_/�.2. Within[days after b.[ ] Buyer has been afforded the opportunity to have a Radon Inspection, However,Buyer hereby waives his/her right to to have a radon inspection and relies upon his/her own determination as to the condition of said property. Further, Buyer releases the Seller, Broker,Salesperson and all other persons associated with the transfer of real estate from any and all liability relating to any defect or deficiency affecting the property. This waiver shall survive the closing. Inspection at Buyer's expense,to be performed by a qualified Pest Inspector, Inspection will be comr' 'ed,report received and delivered to Seller slang wi' e Response to Inspection Report. (CHOOSE ONE) 1. C r before / / 2. No later than 46) days,..,or to closing b. [a, ] Buyer has been afforded the opportunity to have a Wood Destroying Pest Inspection, However,Buyer hereby waives his/her right to have a wood destroying pest inspection and relies upon his/her own determination as to the condition of said property. Further, Buyer releases the Seller,Broker,Salesperson and all other persons associated with the transfer of real estate from any and all liability relating to any defect or deficiency affecting the property. This waiver shall survive the closing 4. WATER TEST(If Applicable)—"LENDER MAY REQUIRE FOR FINANCING APPROVAL" a. ( ] With written acceptance of said Purchase Contract, Buyer shall have the right to conduct a water test performed by a qualified third party at Buyer's expense. Water test to be completed,report received and delivered to Seller along with the Response to Inspection Report. (CHOOSE ONE) 1.On or before_/ / 2. Within days after b. [ Buyer has been afforded the right to have a Water Test performed by a qualified third party.However, Buyer hereby waives his/her right to have a water test and relies upon his/her own determination as to the condition of said property. Further, Buyer releases the Seller,Broker,Salesperson and all other persons associated with the transfer of real estate from any and all liability relating to any defect or deficiency affecting the property.This waiver shall survive the closing. 5_ SEPTIC LNS2ZC 4 N rtrAte...*Uuble) Iowa Code 455B.172 mandates the inspection�6t"septic systems,unless exempt,prior to the transfer of property. The code applies to transfer of property which includes at least one but not more than four dwelling units.This property has a septic system and is not connected to a sanitary sewer system. a. [ ] With written acceptance of said Purchase Contract, Buyer shall require the Seller to provide the results of a Septic System Inspection performed by a DNR Certified Inspector. (CHOOSE ONE) I. By-f-/-.2.No later than days prior to closing. b. [ ] Septic System Inspection will be completed by a certified DNR septic system inspector at Buyer's Expense,report received and delivered to Seller along with the Response to Inspection Report. (CHOOSE ONE) 1. By_/_/ . 2.No later than days prior to closing. c. [ ] Buyer has been presented with satisfactory results of a Septic System Inspection conducted by a Certified Septic System Inspector within the appropriate two-year state mandated time frame. d. [ ] Illinois-Buyer has been afforded the right to have the septic system inspected by a qualified third party, However,Buyer hereby waives his/her right to have a septic system inspection and relies upon his/her own determination as to the condition of said property.Further,Buyer releases the Seller,Broker,Salesperson and all other persons associated with the transfer of real estate from any and all liability relating to any defect or deficiency affecting the property.This waiver shall survive the closing. G. LEAD-BASED PAINT(See EPA pamphlet Protectyour Family from Lead in Your Home) a. [ ] This contract is contingent upon a risk assessment or inspection of the property for the presence of lead-based paint and/or paint hazards at the Buyer's expense with such inspection to be completed before 9;00 P.M.on the l Oth calendar day after acceptance of the Purchase Contract.This contingency will terminate at the above predetermined deadline unless the Buyer,or Buyer agent,detivers to the Seller(or Seller agent)a written contract addendum listing the specific existing deficiencies and corrections needed,together with a copy of the inspection and/or risk assessment report.The Seller may,at the Seller's option, within days after delivery of the addendum,elect in writing whether to correct the condition(s)prior to settlement. If the Seller will correct the condition,the Seller shall furnish the Buyer with certification from a risk assessor or inspector demonstrating that the condition has been remedied before the date of the settlement. If the Seller does not elect to make the repairs,or if the Seller makes a counter-offer,the Buyer shall have _days after receipt to respond to the counter-offer or remove this contingency and take the property in"As-Is" condition or this contract shall become void. Intact lead-based paint that is in good condition is not necessarily a hazard. BUYER INITIAL INITIAL SELLER INI I INITIAL PKUVEK I Y AIJUNU53 — t Street City Statex ZIP LEAD ,,IASED PAINT(CON'T) b. [Vj Buyer has been afforded the opportunity to have a Lead-based Paint Inspection. However, Buyer hereby waives his/her right to have a lead-based paint inspection and relies upon his/her own determination as to the condition of said property. Further, Buyer releases the Seller, Broker,Salesperson and all other persons associated with the transfer of real estate from any and all liability relating to any defect or deficiency affecting the property. This waiver shall survive the closing. 7. RIGHT TO CURE Seller has the right to cure/repair any defective condition discovered by inspections except*: a. [ ) No exceptions apply,OR b. [v,,r (fill in) � i &Q L- ­'� *If Buyer has excluded an area or system from the Right to Cure a defective condition not previously disclosed,and if an inspection describes a defective condition in the excluded area or system,this agreement shall be null and avoid unless otherwise agreed. THIS SECTION MUST BE READ,UNDERSTOOD AND INITIALED 8. RENOVATION,REPAIR,OR REPLACEMENT In the event any of the above inspections reveal a defective condition not previously disclosed,buyer will deliver to seller Response To Inspections Report,together with a copy of the complete inspection report(s), outlining what procedures the Buyer will require the Seller to complete in order to remedy defective condition(s). If Buyer fails to respond within the required time they agree to accept the property in"AS IS" condition and forfeit any right to void the Purchase Contract based on the terms outlined in the Inspection Addendum. Seller agrees to respond to Buyer on said Response to Inspection Report within days after receiving the Report from Buyer. In the event Seller fails to respond as required then they agree to complete the above mentioned procedures required by the Buyer and forfeit any right to void the Purchase Contract based on any terms outlined in the Inspection Addendum. BUYER INITIAL INITIAL SELLER ILMI INITIAL Buyer and Seller hereby release Brokers and Salespersons from any liability relating to any defect or deficiency or inspection or disclosure affecting the property,said waiver shall survive the closing. The above all be attached to and made Apart of said Purchase Contract Buyer '"`�~"' Date/1.7/elle `` Date f �[ Buyer Date—/—/—Seller Date—/—/ Agent � �Date //-I/ZrAgen d�Date 12 DBR 7 1 10 ©Copyright 2010 Dubuque Multiple Listing Service For Member Use Only MAReal Estate Forms-Master Docs\Purchase Agreement Addendum—Inspection Addendum—Dubuque 8/11 STATE OF IOWA {SS: DUBUQUE COUNTY CERTIFICATION OF PUBLICATION I, Suzanne Pike, a Billing Clerk for Woodward Communications, Inc., an Iowa corporation,publisher of the Telegraph Herald,a newspaper of general circulation published in the City of Dubuque, County of Dubuque and State of Iowa; hereby certify that the attached notice was published in said newspaper on the following dates: May 08, 2015, and for which the charge is $46.11. Subscribed to before me, a Notary Public in and for Dubuque County, Iowa, this day of , 20/5 �otary Public in and for Dubuque County, Iowa. O .tRL d`y �fl P1 i"t B Ci<GY 6'w w?E�4i itl1�i i�� Cammisslon Plumber 1�4$�Sa I I i I i r WHEREAS,the City of CITY OF DUBUQUE, Dubuque has obtained IOWA certain real property in OFFICIAL NOTICE connection with ..the- PUBLIC"NOTICE:js Purchase/Rehab/Re- hereby given that the sale,`Project;,and for City Council of the City I purpose of its-acqui- of Dubuque, Iowa, willsition, rehabilitation hold a public hearing and n, sale for owner on the 18th:day of May, occupied housing;and 2015,at 6:30 p.m.in the 1NHEREAS, the City Historic Federal Build- received an offer to ing, 350 West Sixth purchase this:property Street, second floor, from Sheomlab.Bond; Dubuque, Iowa, at WHEREAS, ;by" ac- which meeting the City cepting the selected Council proposes .to offer the City's objec dispose of an interest tives of providing in the following homeownership to an described real property income qualified buy by sale to'Sheonna-:D• 'ers and rehabilitation: Bond: of a;vacated home can Lot Two(2),of Lot One be realized;, (1) and theEast One NOW,THEREFORE,BE Half,(E /z) of Lot Four IT RESOLVED BY r THE (4)of Lot Two(2)both CITY(COUNCIL-OF THE in:Geiger's Subdivision, CITY:`, OF DUBUQUE, in the City of Dubuque, IOWA. Iowa ,(2521Stafford Section 1. That the Street) City of Dubuque,iowa, At the,meeting, the intends to dispose of City 'Council will its interest ;:in the receive oral and following legally des written comments cribed property: from any resident or Lot Two(2)of Lot One property owner of said (1),and the East'One ? City to the above Half`(E'/z) of Lot Four j action. Written com- (4)of Lot Two(2)both ments regarding the in Geiger's Subdivision, 1 above public hearing may be submitted to in the Iowa City ofDubu q ue, the.City C,lerk's Office, City Hall, 50 W. 13th Section 2. That the Street,, on or before City of Dubuqque, Iowa, said time of public proposes to,dispose of hearing. t itsinterest ;in the Copies of supporting above described real documents for the Jestate to,:Sheonna D. ' public hearings are on I Bond f6ir, sum of `I file in the City Clerk's I $130;000; Office, and ,may be 1 Section 3. That the viewed during normal City;'clerk is hereby' working hours. authorized and direct- Any visual or hearing 11 ed to cause this impaired persons need- Resolution and a notice ing special assistance to be published as or:persons with special prescribed by Iowa accessibility' needs Code Section 364.7 of a should contact the City public hearing.on the' Clerk's Office at (563) , ,City's intent to dispose 589-4100 or TTY (551)_1 _of the, foregoing 556-9948 at least, 48 described iProperty, to ` hours prior to the be held on the 18th day meeting. . of May,-2015' at 6:30 Dated this 8th day of o'clock,: .m p . at the May,2025. Historic,Federal, Build- Kevin S.Firnstahl, ing, 356 "West 6th CMC,City Clerk Street,Dubuque,Iowa. RESOLUTION Passed,-a'pproved arid N0.,151-1$ adopteAhis 4th day of A RESOLUTION OF May,2015. INTENTION'.TO: DIS- /s/Roy D Buol,Mayor POSE OF CITY- Attest;'/s/Kevin OWNED PROPERTY; Firnstahl, SPECIFICALLY, ' LOT-J CMC,City Clerk TWO(2)OF LOT ONE It 5/86 - (1) AND THE EAST i-- ONE-HALF (E 1/2) OF LOT FOUR(4)OF LOT TWO (2) 'BOTH IN GEIGER'S "-SUBOIVI- SION,IN TH.E�,CITY OF DUBUQUE, IOWA - 2521 STAFFORDr STREET