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Acceptance of Deed - 1146 Elm Street_Stackis Copyright 2014 City of Dubuque Consent Items # 6. ITEM TITLE: Acceptance of Deed - 1146 Elm Street SUMMARY: City Manager recommending acceptance of the deed to property located at 1146 Elm Street from Stackis, LLC. RESOLUTION Accepting the Deed to certain real estate in Dubuque County, Iowa from Stackis, LLC SUGGESTED DISPOSITION: Suggested Disposition: Receive and File; Adopt Resolution(s) ATTACHMENTS: Description Type Stackis Property Acquisition-MVM Memo City Manager Memo Staff Memo Staff Memo Resolution Resolutions Warranty Deed Supporting Documentation Offer to Buy Supporting Documentation THE CITY OF Dubuque DUB E i" Masterpiece on the Mississippi 2007.2012.2013 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: Purchase of Property from Stackis, L.L.C. 1146 Elm Street DATE: January 10, 2017 On October 14, 2016, the City entered into an agreement with Stackis, L.L.C. to purchase the property located at 1146 Elm Street. The City has now acquired the property and Senior Counsel Barry Lindahl recommends City Council acceptance of the deed to the property. I concur with the recommendation and respectfully request Mayor and City Council approval. Mic ael C. Van Milligen MCVM:jh Attachment cc: Crenna Brumwell, City Attorney Cindy Steinhauser, Assistant City Manager Teri Goodmann, Assistant City Manager Barry Lindahl, Senior Counsel THE CITY OF DUB-�6 E MEMORANDUM Masterpiece on the Mississippi BARRY LINDAHL SENIOR COUNSEL To: Michael C. Van Milligen City Manager DATE: January 6, 2017 RE: Purchase of Property from Stackis, L.L.C. 1146 Elm Street On October 14, 2016, the City entered into an agreement, as amended, with Stackis, L.L.C. to purchase the property located at 1146 Elm Street, legally described as follows: The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, Iowa, Warranty Deed, Instrument No. 2600-86; in the City of Dubuque, Iowa, according to the United States Commissioners' Plat of the Survey of the Town of Dubuque, Iowa, records of Dubuque County, Iowa The City has now acquired the property. Attached is a resolution accepting the deed to the property. I recommend that the resolution be submitted to the City Council for consideration and approval. BAL:tls Attachment cc: Crenna M. Brumwell, City Attorney Maurice Jones, Economic Development Director Tim Horsfield, Parking Systems Supervisor F:\Users\tsteckle\Lindahl\Stackis, LLC-S&K\Closing Docs\MVM_ResolutionAcceptingDeed_010617.doc OFFICE OF THE CITY ATTORNEY DUBUQUE, IOWA SUITE 330, HARBOR VIEW PLACE, 300 MAIN STREET DUBUQUE, IA 52001-6944 TELEPHONE (563)583-4113/FAX (563)583-1040/EMAIL balesq@cityofdubuque.org Prepared by Barry A. Lindahl 300 Main Street, Suite 330 Dubuque IA 52001 563 583-4113 Return to Prepared by Barry A. Lindahl 300 Main Street, Suite 330 Dubuque IA 52001 563 583-4113 RESOLUTION NO. 17-17 ACCEPTING THE DEED TO CERTAIN REAL ESTATE IN DUBUQUE COUNTY, IOWA FROM STACKIS, L.L.C. WHEREAS, the City of Dubuque entered into an Agreement on October 14, 2016, with Stackis, L.L.C., as amended by First Amendment dated January 5, 2017, for the purchase of certain real property in Dubuque County, Iowa, described as follows: The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, Iowa, Warranty Deed, Instrument No. 2600-86; in the City of Dubuque, Iowa, according to the United States Commissioners' Plat of the Survey of the Town of Dubuque, Iowa, records of Dubuque County, Iowa AND WHEREAS, the terms of the Agreement have now been met. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA, AS FOLLOWS: 1. The City of Dubuque, Iowa, hereby approves and ratifies the Agreement as amended and accepts the Deed from Stackis. L.L.C., a copy of which Deed is attached hereto. 2. The City Clerk is hereby authorized and directed to record this Resolution and the Deed with the Dubuque County Recorder. Passed, approved and adopted this 17th day of January, 2017. Kevin J. Lynch; Mayor Pro -Tem Attest: Kevinf'S. City Uerk F:\Users\tsteckle\Lindahl\Stackis, LLC - S & K\Closing Docs\ResolutionAcceptingDeed_011117.doc OFFER TO BUY REAL ESTATE AND ACCEPTANCE TO: STACKIS, L.L.C. 120 N Frentress Lake Rd, East Dubuque IL 61025 SECTION 1. REAL ESTATE DESCRIPTION. The City of Dubuque, Iowa (Buyer) offers to buy all of Seller's right, title and interest in and to the real estate in Dubuque County, Iowa, described as follows: The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, Iowa, Warranty Deed, Instrument No. 2600-86; in the City of Dubuque, Iowa, according to the United States Commissioners' Plat of the Survey of the Town of Dubuque, Iowa, records of Dubuque County, Iowa (Parcel No. 1024441006) (the Real Estate) SECTION 2. PURCHASE PRICE. The Purchase Price shall be as follows, payable at Closing: $500,000.00 cash at Closing. Subject to all of the terms and conditions herein. SECTION 3. REAL ESTATE TAXES. Seller shall pay all unpaid real estate taxes for the current fiscal year prorated to the date of possession and all taxes for prior years. SECTION 4. SPECIAL ASSESSMENTS. Buyer shall pay all special assessments which are a lien as of the date of closing. SECTION 5. RISK OF LOSS AND INSURANCE. Seller shall bear the risk of loss or damage to the Real Estate prior to closing or possession, whichever first occurs. Seller agrees to maintain existing insurance and Buyer may purchase additional insurance. In the event of substantial damage or destruction prior to closing, this Agreement shall be null and void; provided, however, Buyer shall have the option to complete the closing and receive insurance proceeds regardless of the extent of damages. The Real Estate shall be deemed substantially damaged or destroyed if it cannot be restored to its present condition on or before the closing date. SECTION 6. CARE AND MAINTENANCE. The Real Estate shall be preserved in its present condition and delivered intact at the time possession is delivered to Buyer, provided, however, if there is loss or destruction of all or any part of the Real Estate from causes covered by the insurance maintained by Seller, Buyer at its option may agree to accept such damaged or destroyed Real Estate together with such insurance proceeds in lieu of the Real Estate in its present condition and Seller shall not be required to repair or replace same. 092216bal SECTION 7. POSSESSION AND CLOSING. If Seller timely performs all obligations, and all contingencies (see Section 18) are met or waived, possession of the Real Estate shall be delivered to Buyer on or before December 1, 2016 the Closing Date), or such other date as the parties may agree in writing with any adjustments of taxes, rent, insurance, and interest to be made as of the date of transfer of possession. SECTION 8. FIXTURES. All property that integrally belongs to or is part of the buildings on the Real Estate, whether attached or detached, such as light fixtures, shades, rods, blinds, awnings, windows, storm doors, screens, plumbing fixtures, water heaters, water softeners, automatic heating equipment, air conditioning equipment, wall to wall carpeting, built-in items and electrical service cable, outside television towers and antenna, fencing, gates and landscaping shall be considered a part of Real Estate and included in the sale. SECTION 9. USE OF PURCHASE PRICE. At time of settlement, funds from the Purchase Price may be used to pay taxes and other liens and to acquire outstanding interests, if any, of others. SECTION 10. ABSTRACT AND TITLE. Seller, at its expense, shall promptly obtain a lien search or an abstract of title to the Real Estate continued through the date of acceptance of this offer which shall show merchantable title in Seller in conformity with this agreement, Iowa law and Title Standards of the Iowa State Bar Association. The abstract shall become the property of the Buyer when the purchase price is paid in full. Seller shall pay the costs of any additional abstracting and title work due to any act or omission of Seller, including transfers by or the death of Seller or its assignees. SECTION 11. DEED. Upon payment of the purchase price, Seller shall convey the Real Estate to Buyer, by Warranty Deed. SECTION 12. TIME IS OF THE ESSENCE. Time is of the essence in this contract. SECTION 13. REMEDIES OF THE PARTIES. Buyer and Seller also are entitled to utilize any and all other remedies or actions at law or in equity available to them and shall be entitled to obtain judgment for costs and attorney fees as permitted by law. SECTION 14. APPROVAL OF COURT. If the sale of the Real Estate is subject to Court approval, the fiduciary shall promptly submit this contract for such approval. If this contract is not so approved, it shall be void. SECTION 15. CONTRACT BINDING ON SUCCESSORS IN INTEREST. This contract shall apply to and bind the successors in interest of the parties. SECTION 16. CONSTRUCTION. Words and phrases shall be construed as in the singular or plural number, and as masculine, feminine or neuter gender, according to the context. 2 SECTION 17. TIME FOR ACCEPTANCE. If this offer is not accepted by Seller on or before noon on October 21, 2016, it shall become void. SECTION 18. OTHER PROVISIONS. 18.1. Buyer, its counsel, accountants, agents and other representatives, shall have full and continuing access to the Real Estate and all parts thereof, upon reasonable notice to Seller for the purpose of inspecting, surveying, engineering, test boring, performance of environmental tests and such other work as Buyer shall consider appropriate, provided that Buyer shall hold Seller harmless and fully indemnify Seller against any damage, claim, liability or cause of action arising from or caused by the actions of Buyer, its agents, or representatives upon the Real Estate (except for any damage, claim, liability or cause of action arising from conditions existing prior to any such entry upon the Real Estate), and shall have the further right to make such inquiries of governmental agencies and utility companies, etc. and to make such feasibility studies and analyses as Buyer considers appropriate. 18.2. Seller warrants that the rights of all tenants shall be terminated by Seller prior to closing and that there will be no tenants whose rights in the Real Estate survive the closing. This covenant shall survive the closing. 18.3. Environmental Provision. (1) Seller warrants to the best of its knowledge and belief that there are no abandoned wells, solid waste disposal sites, hazardous wastes or substances, underground storage tanks, burial sites or private wastewater disposal systems located on the Real Estate, the Real Estate does not contain radon gas, asbestos or asbestos containing building materials, or urea-formaldehyde foam insulation, and Seller has done nothing to cause or allow contamination of the Real Estate with hazardous wastes, substances, or pollutants. Seller warrants to the best of its knowledge and belief that the Real Estate is not subject to any local, state, or federal judicial or administrative action, investigation or order regarding any environmental matter. Seller shall provide Buyer with a properly executed Groundwater Hazard Statement showing no wells, solid waste disposal sites, hazardous wastes, underground storage tanks, private burial sites or private wastewater disposal systems on the Real Estate which shall be considered a warranty and representation by Seller to Buyer. (2) Following closing, should the Buyer learn that the environmental condition of the Real Estate requires assessment and/or corrective action pursuant to local, state or federal law, for matters first arising during the time period the Real Estate was controlled by Seller, Seller shall take all action as may be required by law to fully address the environmental condition and Seller shall indemnify and hold harmless the Buyer from any claims and costs, including attorneys' fees and consultants' fees, arising therefrom. 3 (3) These environmental provisions shall survive closing. 18.4. Seller agrees to vacate the Real Estate not less than 90 days from the Closing Date. At the end of such ninety-day period., any property remaining on the Real Estate, including personal property, trade fixtures, fixtures and the building, becomes the property of Buyer without further action by Seller. Seller may at its option remove the building on the Commercial Property during such 90-day period. Buyer will retain $10,000.00 at closing as security for Seller's agreement to vacate and Seller agrees that the daily penalty for failure to vacate after the 90-day period is $1,000.00 per each day the Seller remains on the Real Estate after such 90-day period has expired. Buyer will release the $10,000.00 when Seller gives Buyer notice it has vacated the Real Estate. THIS OFFER IS ACCEPTED Dated: �o -�Dated:C j - Gln 1° �y CITY OF DUBUQUE, IOWA, STACKIS, L.L.C. BUYER SELLER By: Michel C. Van Milligen City Manager F:\Users\tsteckle\Lindahl\Stackis,LLC-S&K\S&K OfferToBuy_092216.doc 4 FIRST AMENDMENT TO OFFER TO BUY REAL ESTATE AND ACCEPTANCE BETWEEN THE CITY OF DUBUQUE, IOWA AND STACKIS, L.L.C. This First Amendment to Offer to Buy Real Estate and Acceptance dated for reference purposes this 5 day of SANLLAKy , 2017, is made and entered into by and between the City of Dubuque, Iowa, an Iowa municipal corporation (City) and Stackis, L.L.C. (Stackis). Whereas, City and Stackis entered into a certain Offer to Buy Real Estate and Acceptance dated October 14, 2016 for the sale of the following legally described property: The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, Iowa, Warranty Deed, Instrument No. 2600-86; in the City of Dubuque, Iowa, according to the United States Commissioners' Plat of the Survey of the Town of Dubuque, Iowa, records of Dubuque County, Iowa (Parcel No. 1024441006) And Whereas, City and Stackis now desire to amend the Offer to Buy Real Estate and Acceptance, extending the date for closing and possession as set forth herein. NOW, THEREFORE, IT IS AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS: 1. Section 7 of the Offer to Buy Real Estate and Acceptance is amended to read as follows: SECTION 7. POSSESSION AND CLOSING. If Seller timely performs all obligations, and all contingencies (see Section 18) are met or waived, possession of the Real Estate shall be delivered to Buyer on or before January 6, 2017 the Closing Date), or such other date as the parties may agree in writing with any adjustments of taxes, rent, insurance, and interest to be made as of the date of transfer of possession. 2. Section 18.3(2) is amended to read as follows: (2) Following closing, should the Buyer learn that the environmental condition of the real estate requires assessment and/or corrective action, pursuant to local, state or federal law, for matters which the Seller caused or which were caused during the period of Seller's ownership, Seller shall 010317ba1 take all action as may be required by law to address the environmental condition. Seller shall indemnify and hold the Buyer harmless from any claims and costs, including attorney's fees and consultant's fees, arising therefrom. 3. All other terms and conditions of the Offer to Buy Real Estate and Acceptance shall remain in full force and effect. Dated: //5/21 7 Dated: l CITY OF DUBUQUE, IOWA, STACKIS, L.L.C. BUYER SELLER By: / By: Michael C. Van Milligen Shawn Stackis, Sole and Managing City Manager Member 2 take all action as may be required by law to address the environmental condition. Seller shall indemnify and hold the Buyer harmless from any claims and costs, including attorney's fees and consultant's fees, arising therefrom. 3. All other terms and conditions of the Offer to Buy Real Estate and Acceptance shall remain in full force and effect. Dated: CITY OF DUBUQUE, IOWA, STACKIS, L.L.C. BUYER SELLER By: Michael C. Van Milligen City Manager By: i Shawn Stackis, Sole and Managing Member 11 11 11 11 11 11 11 11 Doc ID: 008581640004 Type GEN Kind: DEED WITH RESOLUTION Recorded: 01/18/2017 at 03:08:46 PM' Fee Amt: $826.20 Page 1 of 4 Revenue Tax: $799.20 Dubuque County Iowa John Murphy Recorder File2017-00000807 WARRANTY DEED (CORPORATEBUSINESS ENTITY GRANTOR) THE IOWA STATE BAR ASSOCIATION Official Form No. 335 Recorder's Cover Sheet Preparer Information: (Name, address and phone number) Jennifer A. Clemens -Conlon, 2080 Southpark Court, Dubuque, IA 52003, (563) 582-2926 Taxpayer Information: (Name and complete address) City of Dubuque, Iowa, City Hall, 50 W.13th Street, Dubuque, Iowa 52001 Return Document To: (Name and complete address) City of Dubuque, Iowa, City Hall, 50 W. 13th Street, Dubuque, Iowa 52001 Grantors: Stackis, L.L.C. Grantees: City of Dubuque, Iowa Legal description: Document or instrument number of previously recorded documents: © The Iowa State Bar Association 2016 IO WADOCS® ). 00 WARRANTY DEED (CORPORATE/BUSINESS ENTITY GRANTOR) For the consideration of valuable consideration, a(n) limited liability company the laws of Ten and No/100 ($10.00) Dollar(s) and other Stackis, L.L.C. organized and existing under Dubuque does hereby Convey to City of Dubuque, Iowa the following described real estate in Dubuque County, Iowa: The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, Iowa, Warranty Deed, Instrument No. 2600-86; in the City of Dubuque, Iowa, according to the United States Commissioners' Plat of the Survey of the Town of Dubuque, Iowa, records of Dubuque County, Iowa The grantor hereby covenants with grantees, and successors in interest, that it holds the real estate by title in fee simple; that it has good and lawful authority to sell and convey the real estate; that the real estate is free and clear of all liens and encumbrances, except as may be above stated; and it covenants to Warrant and Defend the real estate against the lawful claims of all persons, except as may be above stated. Words and phrases herein, including acknowledgment hereof, shall be construed as in the singular or plural number, according to the context. Dated on (—\ ?)-(3 Stackis, L.L.C. • - 1 , a(n) limited liability company fi By: /" / By (5.1awli"Stackis, Sole and Managing Member STATE OF IOWA , COUNTY OF DUBUQUE This record was acknowledged before me on 4i) L " as Sole and Managing Member of Stackis, L.L.C.p' 161.0"" ' Ge Jnd ''dx3 'wwoo Avi Z9E991, JegwnN ualselwwoO NO100•5N31,1313 'y N3AINN3f © The Iowa State Bar Association 2016 IowaDocs© Form No. 335, Wa rt , by Shawn Stackis n ,Notary Public Deed - Corporation/Business Entity Grantor Revised April 2016 Prepared by Barry A. Lindahl 300 Main Street, Suite 330 Dubuque IA 52001 563 583-4113 Return to Prepared by Barry A. Lindahl 300 Main Street, Suite 330 Dubuque IA 52001 563 583-4113 RESOLUTION NO. 17-17 ACCEPTING THE DEED TO CERTAIN REAL ESTATE IN DUBUQUE COUNTY, IOWA FROM STACKIS, L.L.C. WHEREAS, the City of Dubuque entered into an Agreement on October 14, 2016, with Stackis, L.L.C., as amended by First Amendment dated January 5, 2017, for the purchase of certain real property in Dubuque County, Iowa, described as follows: The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, Iowa, Warranty Deed, Instrument No. 2600-86; in the City of Dubuque, Iowa, according to the United States Commissioners' Plat of the Survey of the Town of Dubuque, Iowa, records of Dubuque County, Iowa AND WHEREAS, the terms of the Agreement have now been met. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DUBUQUE, IOWA, AS FOLLOWS: 1. The City of Dubuque, Iowa, hereby approves and ratifies the Agreement as amended and accepts the Deed from Stackis. L.L.C., a copy of which Deed is attached hereto. 2. The City Clerk is hereby authorized and directed to record this Resolution and the Deed with the Dubuque County Recorder. Passed, approved and adopted this 17th day of January, 2017. (317L. Kevin J. Lynch', Mayor Pro -Tem Attest: Kevin(S..Ffrnstahl'City a Perk F:\Users\tsteckle\Lindahl\Stackis, LLC - S & K\Closing Docs\ResolutionAcceptingDeed_011117.doc 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. 17-17 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 18th day of January, 2017. KevinS. Firnstahl, CMO;—City Clerk f 1111111 fffifi iii iiiff IIIII fofif offif IIIII IIIII IIIII iffff IIIJ1 isiii hili fill ilii Doc ID: 008581650002 Type: GWH Kind: GROUNDWATER HAZARD Recorded: 01/18/2017 at 03:09:16 PM Fee Amt: $0.00 Paqe 1 of 2 Dubuque County Iowa John Murphy Recorder Fi1e201 /% --0000008Q 9 REAL ESTATE TRANSFER - GROUNDWATER HAZARD STATEMENT TO BE COMPLETED BY TRANSFEROR TRANSFEROR: Name Stackis, L.L.C. Address 120 N. Frentress Lake Road, East Dubuque, IL 61025 Number and Street or RR City, Town or P.O. State Zip TRANSFEREE: Name City of Dubuque, Iowa Address City Hall, 50 W. 13th Street, Dubuque, IA 52001 Number and Street or RR City, Town or P.O. State Zip Address of Property Transferred: 1146 Elm Street, Dubuque, IA 52001 Number and Street or RR City, Town or P.O. State Zip Legal Description of Property: (Attach if necessary) The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, Iowa, Warranty Deed, Instrument No. 2600-86; in the City of Dubuque, Iowa, according to the United States —Commissioners' Plat of the Survey of the Town of Dubuque, Iowa, records of Dubuque County, Iowa 1. WeIIs ifeck one) here are no known wells situated on this property. There is a well or wells situated on this property. The type(s), location(s) and legal status are stated below or set forth on an attached separate sheet, as necessary. 2. Solid WAste Disposal (check one) ere is no known solid waste disposal site on this property. There is a solid waste disposal site on this property and information related thereto is provided in Attachment #1, attached to this document. 3. Hazards Wastes (check one) -1 here is no known hazardous waste on this property. There is hazardous waste on this property and information related thereto is provided in Attach ent #1, attached to this document. 4. Unde ound Storage Tanks (check one) here are no known underground storage tanks on this property. (Note exclusions such as small farm and residential motor fuel tanks, most heating oil tanks, cisterns and septic tanks, in instructions.) There is an underground storage tank on this property. The type(s), size(s) and any known substance(s) contained are listed below or on an attached separate sheet, as necessary. FILE WITH RECORDER DNR form 542-0960 (July 18, 2012) 11/7-p7 5. Private rial Site (check one) e e are no known private burial sites on this property. There is a private burial site on this property. The location(s) of the site(s) and known/deD�fVDg/OfUrm@�0nOfth8d8C9d8O�S)i8St8t9dbekJvVon@Da�8 ed separate sheet, as ne 6. p» Disposal System (check one) All buildings onthis property are served bvopublic orsemi-public sewage disposal 3votern. This transaction does not involve the transfer of any building which has or is required 'vv by |�t0 have aoevv@gedisposal eyntenn. propertyThere iS8building served byprivate sewage disposal system onthis xurabuilding vYithoutany lawful sewage disposal system. Aoe�ified inspector's report is ached which documents the condition of the private sewage disposal system and whether any modifications are required to conform to standards adopted by the Department of Natural Resources. A certified inspection report must be accompanied by this form when recording. There is a building served by private sewage disposal system on this property. Weather or other temporary physical conditions prevent the certified inspection of the private sewage disposai system from being conducted. The buyer has executed a binding acknowledgment with the county board of health to conduct a certified inspection of the private sewage disposal system at the earliest practicable time and to be responsible for any required modifications to the private sewage disposal system as identified by the certified inspection. A copy of the binding acknowledgment is attached to this form. There is a building served by private sewage disposal system on this property. The buyer has executed a binding acknowledgment with the county board of health to install a new private sewage disposal system on this property within an agreed upon time period. A copy of the binding acknowledgment is provided with this form. There is a building served by private sewage disposal system on this property. The building to which the sewage disposal system is connected will be demolished without being occupied. The buyer has executed a binding acknowledgment with the county board of health to demolish the building within an agreed upon time period. A copy of the binding acknowledgment is provided with this form. [Exemption #9] This property is exempt from the private sewage disposal inspection requirements pursuant to the following exemption [Note: for exemption #9 use prior check box]: The private sewage disposal system has been installedwithin the pasttwo years pursuant to permit number Information required by statements checked above should be provided here or on separate sheets attached hereto: KHEREBY DECLA\°E THAT I HAI VE REVIEWED THE INSTRUCTIONS FOR THIS FORM AND -THAT T INkFORMATION STATED ABOVE IS TRUE AND CORRECT. Signature: Transferor or Agont) FILE WITH RECORDER TelephoneKjO.: (866) 582-8895 DNR form 542-0960 (July 18, 2012) CLOSING CHECKLIST CITY OF DUBUQUE, IOWA AND STACKIS, L.L,C. January 6, 2017 10:00 AM 300 Main Street, Suite 330 The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, Iowa, Warranty Deed, Instrument No. 2600-86; in the City of Dubuque, Iowa, according to the United States Commissioners' Plat of the Survey of the Town of Dubuque, Iowa, records of Dubuque County, Iowa (1140 Elm Street) Due from Seller Due from Buver Property Purchase Price $500,000.00 Abstract Fee $85.00 (Pd 11/30/15 City chk, No. 448274) Dubuque County Recorder 8799.20 Real Estate Transfer Tax (Stackis will issue chk. to Dub. Co. Recorder) Dubuque County Treasurer $7,006.08 Real Estate Taxes (Stackis will issue chk. to Dub. Co. Treasurer) Parcel No. 1024441005 2^� half Fiscal Year 2015-15 15i half Fiscal Year 2016-17 2r' half Fiscal Year 2016-17 01/01/17 — 01/06/17 ($7,306/366 days x 5 days) $3,653.00 $3,653.00 100.08 Mortgages • DuPaeo / 2016-7703 {separate check to be provided by Stackis) • DuPace 12016-7758 (Separate check to be provided by Stackis) Assignment of Rents • DuPaco / 2016-7704 (separate check to be provided by Stackis) Total Due from Sellers $85.00 2 CLOSING CHECKLIST CITY OF DUBUQUE, IOWA AND STACK'S, L.L.C. January 6, 2017 @ 10:00 AM 300 Main Street, Suite 330 The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, towa, Warranty Deed, Instrument No. 260086; in the City of Dubuque, lowa, according to the United States Commissioners' Pat of the Survey of the Town of Dubuque, Iowa, records of Dubuque County, Iowa (1146 Elm Street) 1. Abstracting fees Stackis 2. Warranty Deed Stackis 3. Deed Recording Fee City 4. Declaration of Value Stackis 5. Groundwater Hazard Statement Stackis 6, Real Estate Transfer Tax Stack's Payable to Dubuque County Recorder 7. Real Estate Taxes for Fiscal Year Stackis Payable to Dubuque County Treasurer 8, Mortgages Stackis • DuPaco / 2016-7703 • DuPaco / 2016-7758 9. Assignment of Rents Stackis • DuPaco / 2016-7704 10. Amendment to Purchase Agreement CitylStackis 11, Net Purchase Price $499,915,00 City 12. Closing Statement City 0 i0317ba1 Net Due from Buyer CITY OF DUBUQUE, IOWA (BUYER) By: Barfy A. Lindahl, Senior Counsel $499,915.00 STACK'S, L.L.C.. S.. Shawn Stais, Sole and Managing Member } Closing Date: Closing Location: Prepared By: Buyer Name: Seller Name: Property Address: SELLERS CLOSING STATEMENT 01/06/17 Harbor View Place Jennifer A. Clemens -Conlon Clemens, Walters, Conlon, Runde & Hiatt, L.L.P. 2080 Southpark Court Dubuque, Iowa 52003 Telephone: (563) 582-2926; Facsimile (563) 582-2998 City of Dubuque, Iowa Stackis, L.L.C. 1146 Elm Street, Dubuque, Iowa 52001 Sellers Costs: Abstracting Fees: (Mortgage Payoff: (Good thru 01/06/2017) 1 Transfer Tax: (Taxes 1/1/16 - 6/30/16: (Taxes 7/1/16 - 12/31/16: (Tax Prorate from 01/01/17 01/06/17 $7,306.00 /365 = 20.01640 x 5 days Total Deductions Stackis, f 7 Purchase Price: Paid to: Credit to Buyer Dupaco Community Credit Union Dubuque County Recorder Dubuque County Treasurer Dubuque County Treasurer Dubuque County Treasurer (Calculation provided by the City of Dubuque) PURCHASE PRICE: LESS DEDUCTIONS/COSTS: NET PROCEEDS TO SELLER(S): By: Shawn Stackis, Sole and Managing Member Atty/Staff Initials: jac/ral 5500,000.00 Deductions: $85.00 $371,159.44 $799.20 $3,653.00 $3,653.00 $100.08 $379,449.72 $500,000.00 -$3 79,449.72 5120,550.28 BUYERS CLOSING STATEMENT Closing Date: 01/06/17 Closing Location: Harbor View Place Closing Agent: Jennifer A. Clemens -Conlon Clemens, Walters, Conlon, Runde & 1-liatt, L.L.P. 2080 Southpark Court Dubuque, Iowa 52003 Telephone: (563) 582-2926; Facsimile (563) 582-2998 Buyer Name: Seller Name: Property Address: City of Dubuque, Iowa Stackis, L.L.C. 1146 Elm Street, Dubuque, Iowa 52001 Buyers Costs: 'Purchase Price Recording Fee for Deed (Title Exam Buyers Credits: Abstract Fee City of Dl que, Iowa t By: Atty/Staff Initials: jackal Paid To: 1 Dubuque County Recorder 1 Barry Lindahl COSTS: LESS CREDITS: TOTAL DUE FROM BUYER: 5500,000.001 POCK PUC $500.000.001 $85.001 585.001 $500,000.00 -$,85.00 5499,91.5.00 20,10 CLEMENS, WALTERS, CONLON, RUNDE & HIATT, LLP CLIENT TRUST ACCOUNT 2080 SOUTHPARK CT. DUBUQUE, IA 52003 563-582-2926 PAY TO THE DUBUQUE COUNTY RECORDER ORDER OF www.dubuquebank.com DUBUQUE BANK AND TRUST DUBJOJE. IOWA 520040770 45-53/739 1/6/2017 "799.20 Seven Hundred Ninety -Nine and 20/100*"***""""**"*""`'`*.*****....""*",..********""************************ Dubuque County Recorder k MEMO Sta ckis, LLC/City of Dubuque/1146 Elm St, Dbq.,IA 34925 DOLLARS AUtHORIEEb SIGNATURE " moTeMareeptlimmr CLEMENS, WALTERS, CONLON, RUNDE & HIATT, LLP CLIENT TRUST ACCOUNT 2080 SOUTHPARK CT. DUBUQUE, IA 52003 563-582-2926 PAY TO THE DUBUQUE COUNTY TREASURER ORDER OF DB&T www.dubuquebank.com DUBUQUE BANK AND TRUST DUBUQUE. IOWA 520940775 45-53/739 1/6/2017 $"7,406 08 Seven Thousand Four Hundred Six and 08/100 **************************************************************************4 DUBUQUE COUNTY TREASURER MEMO _Stackis, LLC @ 1146 Elm St, Dbq.,IA 34927 CTRL # C O Y Y Y Y M M##### 1 1 1 1 11 REAL ESTATE TRANSFER - DECLARATION OF VALUE ■ Please read the instructions comprised in form 57-011 before completing and filing this form. ■ Part I - TO BE COMPLETED BY BUYER, SELLER OR AGENT Date of Instrument (MMDDYYYY) Q \ iJ 3-- Enter the number matching your selection in the box at the end of the line: Deed (1) Contract (2) Seller: Stackis, L.L.C. Phone Number: (866) 582-8895 Seller Address: 120 N. Frentress Lake Road City: East Dubuque State: IllinoisZIP; 61025 email: shawnstackis@sandkpackaging.com Buyer: City of Dubuque, Iowa Buyer Address: City Hall, 50 W. 13th Street Phone Number: ( 513) 5411.4110 City: Dubuque State: IowaZIP: 52001 email: Address of Property Conveyed: 1146 Elm Street City: Dubuque State: Iowa ZIP: 52001 Legal Description: See 1 in Addendum Enter the number corresponding to your selection in the box at the end of the line, if applicable. Type of Sale: Sale between related parties/family (1); Sale of partial interest (2); Trade (3); Quit Claim Deed (4); Auction (5) Was this a sale of agricultural land to: Corporation (1); Trust (2); Alien (3); Non-resident Alien (4); Limited Partnership (5) 1 DECLARATION OF VALUE STATEMENT 1. Total Amount Paid 5 0 0 0 0 0 .00 2. Amount Paid for Personal Property .00 3. Amount Paid for Real Property 5 0 0 0 0 0 .00 I hereby declare that the information contained in Part I of this form is true and correct. Shawn Stla r-- Sole-4nd Managing Member of Stackis, L.L.C. Printed Name ' Phone Number: (866) 582-8895 Signature: , �' Buyer or Seller X or Agent or Attorney ■ Effective On or Before 07/01/16 Page 1 ISBA 57-006a (03/15/16) ■ Real Estate Transfer — Declaration of Value, Page 2 Part II - TO BE COMPLETED BY THE ASSESSOR Assessed values must be as of January 1 of the year in which the sale occurred. SECTION A: SINGLE CLASSIFICATION Primary Classification: Residential (4); Commercial (5); Industrial (2); Agricultural (1); Multi -residential (7) City/Township: Primary Parcel Number: Class Res Com Ind Ag MultiRes Land .00 .00 .00 .00 .00 SECTION B: DUAL CLASSIFICATION Primary Classification: Commercial (5); City/Township: Primary Parcel Number: Class I Com Ind MultiRes Land Subtotal .00 .00 .00 Subtotal Building Industrial (2); Building Total: Add Subtotal amounts from Sections A and B Enter amount from line 3, page 1 Ratio: Divide Total amount by the amount on line 3, page 1 Comments: .00 .00 .00 .00 .00 .00 .00 .00 Occupancy: Year Built: Dwelling Multi -residential (7) Occupancy: Year Built: Dwelling NUTC Jurisdiction .00 .00 .00 .00 .00 .00 .00 .00 ■ Effective on or before 07/01/16 Page 2 ISBA 57-006b (03/15/16) ■ Addendum 1. The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, Iowa, Warranty Deed, Instrument No. 2600-86; in the City of Dubuque, Iowa, according to the United States Commissioners' Plat of the Survey of the Town of Dubuque, Iowa, records of Dubuque County, Iowa Prepared by/Return to: Casey Roegner, Dupaco Community Credit Union, P.O. Box 179 Dubuque, IA 52004 (563)557-7600 Ext 2391. RELEASE OF MORTGAGE KNOW ALL MEN BY THESE PRESENTS: That a certain Mortgage, dated the 17th day of June, A.D., 2016, executed between Stackis. L.L.C.. an Iowa Limited liability company and Dunaco Community Credit Union and recorded on the 22nd day of June. 2016 as File #2016- 00007758 of Dubuque County. Iowa. is hereby released this 6th day of January A.D., 2017. Address: 1146 Elm Street, Dubuque, IA 52001 Legal: The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, Iowa, Warranty Deed, Instrument No. 2600-86; in the City of Dubuque, Iowa, according tq., the United States Commissioners' Plat of Survey of the Town of Dubuque, Iowa, records of,Dubique County, Iowa, STATE OF Iowa ) SS: County of Dubuque Andrew Katrichis[ Senior Vice President Business Lending & Operations On this 6th day of January, 2017. before me, a Notary Public in and for the State of Iowa, personally appeared Andrew Katrichis. who being first duly sworn, did say that he is Senior Vice President. Business Lending & Operations, with Dupaco Community Credit Union; that no seal has been procured by said corporation; that said instrument was signed on behalf of said corporation by authority of its Board of Directors; and that the execution of this instrument was the voluntary act and deed of said corporation, by it voluntarily executed. Notary Public in and for said county and state 4-04 ,p d. • ions BRADLEY KEMP Commission Number 762836 My 1601 ��Expirea Prepared by/Return to: Casey Roegner, Dupaco Community Credit Union, P.O. Box 179 Dubuque, IA 52004 (563)557-1700 Ext 2391 RELEASE OF ASSIGNMENT OF MORTGAGE KNOW ALL MEN BY THESE PRESENTS: That a certain Assignment of Mortgage, dated the 6th day of June, A.D., 2013, executed by Stackis, L.L.C. to Dupaco Community Credit Union and recorded on the 21St day of June. 2016. as Document #2016-00007703, of Dubuque County, Iowa, is hereby released this 6th day of January A.D.#2017. Legal: see Exhibit "A" attached hereto and mad a part/hereof STATE OF IOWA ) ) SS: DUBUQUE COUNTY ) BY: Andrew Katrichis,`Senio"rVice President Business Lending & Operations On this 6th day of January. 2017, before me, a Notary Public in and for the State of Iowa, personally appeared Andrew Katrichis, who being first duly sworn, did say that he is Senior Vice President, Business Lending & Operations of Dupaco Community Credit Union; that no seal has been procured by said corporation; that said instrument was signed on behalf of said corporation by authority of its Board of Directors; and that the execution of this instrument was the voluntary act and deed of said corporation, by it voluntarily executed. ���,�,,p �.� f�"" Notary Public in and for said county and state rAl BRADLEY KEMP Commission Number 762836 Mygo��misgiir ErADGea r, '(1 // i� Exhibit "A" The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, Iowa, Warranty Deed, Instrument No. 2600.86; in the City of Dubuque, Iowa, according to the United States Commissioners' Plat of the Survey of the Town of Dubuque, Iowa, records of Dubuque County, Iowa. Prepared by/Return to: Casey Roegner, Dupaco Community Credit Union, P.O. Box 179 Dubuque, IA 52004 (563)557-7600 Ext 2391 RELEASE OF ASSIGNMENT OF RENTS KNOW ALL MEN BY THESE PRESENTS: That a certain Assignment of Rents, dated the 6th day of June, A.D., 2013, executed by and between Stackis, L.L.C. and Dupaco Community Credit Union and recorded on the 21st day of June, 2016, as File #2016-00007704 of Dubuaue County, Iowa, is hereby released this 6th day of January A.D., 2017. Legal: see Exhibit "A" attached hereto and made apart hereof STATE OF Iowa ) SS: Dubuque County BY: Andrew Katrichis, Senior Vice President Business Lending & Operations On this 6th day of January. 2017, before me, a Notary Public in and for the State of Iowa, personally appeared Andrew Katrichis, who being first duly sworn, did say that he is Senior Vice President. Business Lending & Operations of Dupaco Community Credit Union; that no seal has been procured by said corporation; that said instrument was signed on behalf of said corporation by authority of its Board of Directors; and that the execution of this instrument was the voluntary act and deed of said corporation, by it voluntarily executed. Notary Public in and for said county and state ,ii+ ERADLEY KEMP I CommisslnonnnNumber762838 cm, My give spires Exhibit "A" The northerly 177.6 feet of the easterly 100 feet of the westerly 220 feet of Out Lot 500, EXCEPT that part conveyed to the City of Dubuque, Iowa, Warranty Deed, Instrument No. 2600-86; in the City of Dubuque, Iowa, according to the United States Commissioners' Plat of the Survey of the Town of Dubuque, Iowa, records of Dubuque County, Iowa. Page 1 of 1 Tracey Stecklein - Releases From: Brad Kemp <bkemp@dupaco.com> To: "'Rachel Lindenberg' <RLindenberg@cwcmlaw.com> Date: 1/6/2017 8:14 AM Subject: Releases CC: "'Barry Lindahl"' <balesq@cityofdubuque.org>, "'Shawn Stackis"' <shawnst... Attachments: ComMFPScan.pdf Good Morning All — Please see the attached releases. Our courier will take these to the recorder's office upon receipt of the payoff. Let me know if you have any questions. Thank you, Bradley T. Kemp Vice President, Business Lending Dupaco Community Credit Union 3299 Hillcrest Road P.O. Box 179 Dubuque, IA 52004-0179 Phone: (563) 557-7600 / (800) 373-7600 Ext. 2321 Fax: (563) 690-0038 Visit us in person or online at www.dupaco.com CONFIDENTIALITY NOTICE: This e-mail, including any attachments, contains confidential information belonging to the sender which is legally privileged. The information is intended only for the use of the individual or entity to whom it was originally sent. 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