501-503 22nd St Purchase Agreement - Heritage Trail
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RESOLUTION NO.64 -98
RESOLUTION OF INTENT TO ACQUIRE REAL ESTATE AT 501 - 503
EAST 22ND STREET, IN THE CITY OF DUBUQUE, IOWA
WHEREAS, the City of Dubuque is interested in development of a trail head
for Heritage Trail at 22nd and Elm Streets; and
WHEREAS, acquisition of this property is an appropriate means of achieving
this goal; and
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the City Council of the City of Dubuque hereby gives notice
of its intent to acquire the following described property from the Bernard Takes
estate and Elizabeth Takes.
501 - 503 East 22nd Street to the City of Dubuque, Iowa.
.
Section 2. The Mayor is hereby authorized and directed to execute all
documents necessary to acquire the subject real estate.
Passed, approved and adopted this 15th day of February, 1999.
Terrance M. D an
Mayor
Attest:
. PK
.
.
.
[B
r.tAlTOI?.
PURCHASE CONTRACT
TIllS IS A LEGAL BINDING DOCUMENT, IF NOT UNDERSTOOD SEEK LEGAL ADVICE
G:r
AGENCY RELATIONSlllP CONFIRMATION: The following agency relationship is hereby confmned for this transaction:
USTINGAGENT: Rri,,""y lh,,,lty -(,(,:,.=rp" S~J is the agent of (check one):
pri.,.........,_ ell the Seller(s) exclusively; or 0 both Buyer(s) and Seller(s)
SELUNGAGENT: Re/Max Advantage Realty ~ ADA~~ is the agent of (check one):
pri...........,....' Ii the Buyer(s) exclusively; orO both Buyer(s) and Seller(s)
NOTE: See attached AGENCY DISCLOSURE form required by law.
To Seller(s) Fl; ""h"f"h A']'"..""
IJWe the undersigned hereby propose to purchase your property known as
Date
1.
2.
3.
4. and.legally described as: (if not available, permission is hereby granted to insert at a later date)
5. (.
6. and agree to pay you therefor the sum of $ 1" r 111111 as follows: $ with this proposal, as a deposit, to be held in trust
7. by Rri """y R"" 1 f"y pending exchange of final papers. DEPOSIT INCREASE: The deposit shall be
8. increased to $ 5<'0 within ~ days from acceptance. Balance of purchase price due at time of settlement.
9. . FINANCING: This offer is contingent upon Buyer(s) obtaining financing as follows:
10. . MORTGAGE: (circle one) Conventional ConventionalInsured FHA VA Land Contract DOWN PAYMENT: _ %or$
11. . INTEREST RATE not to exceed _ % TERM OF LOAN _ years. Buyer(s) agree to pay all customary loan costs. Buyer(s) agree
12. to make application with a lender immediately upon acceptance of this offer and obtain a written commitment or denial of loan on or before
13. ,19_. I ~ Cl
14. Other contingencies CaJA (11 {1Jfl..
:~ ~,~t ~'~ ~ltV~ '~?i,.~".i!ld"l? p~l:J,'o/Jft~ IiY'\ (~tk~~
18. . LEAD BA~ED PAINT:~ or B must be circled.
19. 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 1 at
20. the Buyer(s) expense until 9:00 P.M. on the 10th calendar day after acceptance of the Purchase Contract.
21. This contingency will terminate at the above predetermined deadline unless the Buyer(s) (or Buyer(s) agent) delivers to the Seller(s) (or Seller's
22. agent) a written contract addendum listing the specific existing deficiencies and corrections needed, together with a copy of the inspection and/or
23. risk assessment report. The Seller(s) may, at the Seller's option, within _ days after Delivery of the addendum, elect in writing whether to
24. correct the condition(s) prior to settlement. If the Seller(s) will correct the condition, the Seller(s) shall furnish the Buyer(s) with certification
25. from a risk assessor or inspector demonstrating that the condition has been remedied before the date of the settlement. If the Seller(s) does not
26. elect to make the repairs, or if the Seller(s) makes a counter-offer, the Buyer(s) shall have _ days to respond to the counter-offer or remove
27. this contingency and take the property in "as-is" condition or this contract shall become void. The Buyer(s) may remove this contingency at any
28. time without cause.
29. 1 Intact lead-based paint that is in good condition is not necessarily a hazard.
30. See EPA pamphlet Protect Your Family From Lead in Your Home for more information.
31. @Buyer(s) has been made aware of lead based paint possibility and hereby waives this inspection.
32. This agreement is also subject to the following conditions:
33. . TAXES-SPECIAL ASSESSMENTS
34. a) Interest, rents, homeowners association assessments, unused fuels and other appropriate charges shall be prorated as of the date of closing.
35. Accrued income and expenses, including taxes for the day of closing, shall accrue to Seller(s).
36. b) General taxes shall be prorated at the time of closing based on the net general taxes for the current year, if known, otherwise on the net general
37. taxes for the preceding year. Caution: if property has not been fully assessed for tax purposes, or reassessment is completed or pending, tax
38. proration shall be on the basis of $ estimated annual tax.
39. c) All special assessments constituting a lien, as of date of settlement, are to be paid by
40. . S~EMENT AND OCCUPANCY. Settlement shal~occur and legal possession shall be given onor before j- 5 -q~ '
41. 19::t!:f.-. Occupancy shall be given to Buyer(s) art ('JtJ ~ J ,19 _ at _ (a.m.) (p.m.). Seller(s) to maintain premises
42. in the same condition as of this date. normal wear excepted.
43. NOTE: Occupancy may be subject to leases and tenant vacancy as follows: (if none, so state) (See Form DBRS if applicable.)
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. F1XTURES. The following items, provided same exist on the premises on date hereof. Roller shades, curtain and drapery rods and ftxtures,
venetian blinds, linoleums fastened or wall-ta-wall, carpeting fastened or wall-to-wall, stair carpets, storm doors and windows, screens for door
and windows, electric light fixtures and bulbs, bath ftxtures, and accessories, permanent heating and cooling equipment, water heater, TV anten-
na (including rotor and control), satellite dish and control, garage door opener and control, fireplace screen, ftre grate and attached equipment,
all shrubs, trees and all other fixtures not excepted herein; are to be left with as belonging to buildings and premises, and including:
Buyer
(except)
.IWPOR'f. B..bj....ll.... 11;l'vll3huwlog uu y.4t 8' prllilK! ..vUCI dCSUU1fu51'LJi ial.(.ut&*iaB. 1Il1,lI.or Ie he ckoala 1.11 'fOld ~" ~..lIfr Puyt- {~:_I. ...t~
. INSURANCE. Seller(s) shall bear the risk of loss or damage to the property prior to closing or possession, whichever first occurs. Seller(s)
agree to maintain existing insurance and Buyer(s) may purchase additional insurance. In the event of substantial damage or destruction prior to
closing, this Agreement shall be null and void, unless otherwise agreed by the Parties. The property shall be deemed substantially damaged or
destroyed if it cannot be restored to its present condition on or before the closing date. Provided however, Buyer(s) shall have the right to
complete the closing and receive insurance proceeds regardless of the extent of damages.
. ABSTRACT. Seller(s) shall furnish Buyer(s) an abstract of title, beginning with date of platting or government entry, continued with 30 days
of settlement date. If abstract does not show good and merchantable title to said property, free and clear of all liens and encumbrances, not
expressly waived or assumed by Buyer(s), Seller(s) shall correct defects in title before settlement is made. Municipal building codes and zoning
ordinance or mineral reservations shall not be construed as title encumbrances. Seller(s) shall pay costs of additional abstracting and/or title
work due to act or omission of Seller(s), including transfers by death of Seller(s) and/or assigns. Merchantable title to be established by the
existing land law and title standard of the state in which the property is located.
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Seller ~, ~,J.d a.~
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Dale ..;-
Buyer
Seller
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City of
Page 10f2
rm approved for use by the Dubuque Board of REALTORS, Inc.
1/97
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Pag:: 2 of contract to purchase dated ;).j =3 J
64. . ADDmONAL PROVISIONS.
65 . a) If this agreement is accepted, Seller( s) agree to pay the Broker's fee for the sale of said premises, in accordance with the listing agreement.
66. Should the Seller(s) and Buyer(s) mutually rescind this contract,Broker's fee shall be paid, unless otherwise agreed.
67. b) It is agreed that at the time of settlement, funds of the purchase price may be used to ay taxes and other items to comply with the above
68. requirements, same to be handled under the supervision of Broker, and subject to approval of Buyer's
69. attorney on title questions involved, and needed to produce merchanta e title.
70. c) When accepted, this offer shall become a legal ~indipg contract for the Sale and Purchase of the a\lf)l,e d~scribed premises. If this ~ffer is
71. not accepted by the Seller(s) on or before "'i . V(J (a.m.) ~.iii}) .J' ") , 19.:1.4-, It shall become null and VOId and
72. the initial payment shall be repaid to the Buyer(s) without liability ~e pan of said agent to either pany.
73. d) This Purchase Contract shall not be assigned by Buyer(s) without the written consent of Seller(s).
74. e) TIME IS OF THE ESSENCE IN TIllS AGREEMENT. J
75. f) Upon payment of the purchase price, Seller(s) shall convey title by Warranty Deed or p.t."r t'tTTlll:d\/ kJ. On-Vld
76. g)_Broker may continue to offer and show the property for sale and Seller may accept backup offers until closin~.
77. . REPRESENTATIONS. It is understood by Buyer(s) that no representations made by the Seller(s) or his Agent in the negotiation of this sale
78. are being relied upon unless incorporated herein or attached hereto in writing and that this property has been personally inspected by Buyer(s).
79. Buyer(s) is hereby advised to request that special provisions be written into this contract prior to signing same, to cover any and all conditions
80. which Buyer(s) might consider to be questionable or problematical (whether such be inspection for termites, drainage, water and soil condi-
81. tions, adequacy of structure or any components, zoning, boundaries, utility connections, or any other matters). It is understood that except for
82. items which are written herein, the described property is being sold "as is" on the date hereof, and that Agent(s) named herein will not be held
83. liable or responsible with respect to any condition which are presently known or subsequently discovered. Seller(s) shall maintain the premises
84. in the same condition as of this date, normal wear and tear excepted.
85. By acceptance of this offer, the Seller(s) warrants and represents:
86. That SEll..ER(S) has no notice or knowledge of any planned public improvement which may result in special assessments or other liens, that no
87. government agency has served any notice requiring repair, alterations or correction of any existing conditions, and that the SELLER(S) has no
88. knowledge of any structural or mechanical defect of material significance in the property, including inadequacy for normal use of any mechani-
89. cal system, plumbing, heating or cooling, wiring, except as shown on Seller's Disclosure of Property Condition, a copy of which Buyer(s)
90. acknowledge having received and reviewed.
91.
92. (if none, so state)
93. The above warranties and representations of Seller(s) shall survive the closing of this transaction.
94. . REMEDIES OF THE PARTIES-FORFEITURE-FORECLOSURE.
95. a) If Buyer(s) fail to fulfill this agreement, the Seller(s) may forfeit the same as provided in the laws of the state in which the property is
96. located, and all payments made hereunder shall be forfeited.
97. b) If Seller(s) fail to fulfill this agreement, the Buyer(s) shall have the right to have all their payments made hereunder returned to them.
98. c) In addition to the foregoing remedies, Buyer(s) and Seller(s) each shall be entitled to any and all other remedies, or actions at law or in
99. equity, including foreclosure, and the party at fault shall pay costs and attorney fees, and a receiver may be appointed.
100. . OTHER PROVISIONS.
101. a) In the event the Seller(s), immediately prior to execution of this contract, holds title to the said property as joint tenants with right of sur-
102. vivorship and not as tenants in common, said joint tenancy relationship is expressly retained.
103. b) Unless otherwise provided, this proposal, if signed by more than one party, is made by the undersigned Buyer(s) as joint tenants with full
104. rights of survivorship and not as tenants in common.
105. . POSSESSION. Buyer(s) are advised to file for homestead and any other tax exemptions that may apply.
106. The following addendums are attached (check/date all that apply).
107. DBRl Counter Offer 0 YON Date
108. DBR3 Amendment to Purchase 0 YON Date
109. DBRS Rental Addendum 0 YON Date
110. Dual Agency Disclosure 0 YON Date
111. Lead Base Paint Disclosure 0 YON Date
112. Other
113. The foregoing offer is (circle on~;E~EJEcrED COUNTERED this --3- day of
114.
, 19.:11. Address
503 L.
J.2nd rr:
Duhl13 lL2.
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DBR2 Sale Contingency
Agency Disclosure
Seller's Disclosure of Property Condition
Inspection Addendum
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(Seller', Signature)
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50 \\. 13th St.
ID #42-6004596
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(319-589-4121
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This form approved for use by the Dubuque Board of REALTORS, Inc.
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REALTOR-iIll
INSPECTION ADDENDUM
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503 C
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To: PURCHASE CONTRACT, dated
19~ , by and between the undersigned Purchaser and
"J;:)"d ~r Du.hu~(tD
Seller con-
cerning the real estate commonly known as:
It is mutually agreed by and between the undersigned that:
INSPECTION: (Section No, 1 or No.2 MUST BE CIRCLED)
1. Within _ days after date of acceptance of said Purchase Contract, Purchaser shall have the right to conduct a physical inspection. at the
Purchaser's expense, by a qualified independent inspector. Inspections shall include the following checked items: 0 foundations; 0 base-
ment: 0 crawl space;D roof; 0 attic; 0 gutters and downspout; 0 exterior walls; 0 ceilings, walls and floors; 0 electrical; 0 built-in
appliances; 0 plumbing; 0 heating; 0 cooling; 0 property grading; 0 well; 0 water quality; 0 septic system (water quality and septic
to meet the local county health standards).
Other
It the inspection is not completed within the aforementioned time period, the condition of the property shall be deemed to have been accepted
for all purposes by the purchaser(S).
The following terms shall define the rights to the Seller and Purchaser:
This inspection report will be used for this transaction only. It Purchasers require repairs to be made, Purchasers will provide a tull copy of
the inspection report to the Sellers and also the buying agent and selling agent.
Sellers are required to disclose all latent defects of the property.
If the inspection report describes a condition of the property not previously disclosed by the Seller, which in Purchasers judgement is a
defective condition, Purchaser shall give Seller written notice. together with a full copy of the Inspection report, within 7 days after said
inspection date, outlining the repairs and improvements that must be made in order to remedy any defect. It a written notice from Purchaser
to Seller is not received within the 7 day period, the condition of the property shall be deemed to have been accepted for all purposes.
Seller shall notify Purchaser within 5 days after receipt of Purchaser's notice and copy of inspection report whether or not Seller agrees to
make the required repairs or improvements.
It Seller informs Purchaser that the Seller will not make such repairs or Improvements, Purchaser may terminate the Purchase Contract
and the earnest money deposit shall forthwith be returned to the Purchaser. Seller's failure to so notify the Purchaser will be deemed to be
an election not to make the repairs. If Seller agrees to make such repairs or improvements. alt work is to be completed in e workman-
like manner according to standard practices and all applicable building codes, Seller shall make every effort to complete same prior
to closing. It Seller is unable to complete same prior to closing,d the cost of said completion shall be paid into escrow at closing.
Notwithstanding the foregoing, Purchaser 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 a ground for termination of
the Purchase Contract.
Additionally, with respect to items noted in said inspection report to have reached or exceeded normal useful life, so long as such items
are in working order, such condition shall not be a baSIS for finding that said Items are in defective condition, and Seller shall not be required
to repair or replace such items.
Except as expressly provided in this Agreement, it is understood that Seller makes no representation as to the condition or state of repair
of the property and has made no agreement to alter. repair or improve the property except as proVided herein. It is also understood that as
to items disclosed in the inspection report(s) as being in defective condition, said Items shall no longer be considered undisclosed.
It Purchaser waives Purchaser's right to require Seller to repair said defective conditions or If Seller agrees to repair said defective items,
Purchaser waives any right to rescind this Agreement based upon such condition.
Inspections reqUired by FHA. VA or lender do not necessanly eliminate the need for other Inspections.
(3)
Purchaser has been made aware that independent Inspections disclosing the condition of the property are available and has been afforded
the opportunity to require as a condition of the Agreement the above-mentioned inspections. However, Purchaser hereby waives inspec-
tions and relies upon the condition of the property based upon hiS own examination and releases the Seller, Broker, and Salespersons from
any and all liability relating to any defect or deficiency affecting the property. which waiver shall survive the closing.
RADON: (Section No.3 or NO.4 MUST BE CIRCLED)
3. Within _ days of acceptance of said Purchase Contract. Purchaser shall have the right to conduct a Radon Inspection at Purchaser's
expense, to be periormed by a licensed inspector. Purchaser shall give Seller wntten notice In the form of "RESPONSE TO RADON
iNSPECTION REPORT' within 3 days of receipt of inspection results. It a written notice is not received within the 3 day period, which shall
not exceed 10 days after inspection date. the condition of the property shall be deemed to have been accepted for all purposes.
e
Purchaser has been made aware that independent inspections disclosing the level of radon gas In the property are available and has been
afforded the opportunity to require, as a condition of the Purchase Contract, such an inspection. However, Purchaser hereby waives this
inspection, and relies upon the condition of the property based on his own examination. Purchaser hereby releases Seller, Broker. REAL-
TORS. their companies and their sales associates from any and all liability relating to any Radon defect affecting said real estate. which
release shaH survive closing.
2-15-9
Date
,)-3-'1'1 ?Zj~ ~
Purchaser Date Seller
Purchaser Date Go DA Selier
2.-.J - 19 J2 ~~~ ----
REALTOR Date REALTOR
Date
Date
\
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DBR6 6/96
PLEASE PRESS FIRMLY
For use by Dubuque Multiple Listing Service members only.
.
RESOLUTION NO.
-99
RESOLUTION OF INTENT TO ACQUIRE REAL ESTATE AT 501 - 503 EAST
22ND STREET, IN THE CITY OF DUBUQUE, IOWA
Whereas, the City of Dubuque is interested in development of a trail head for
Heritage Trail at 22nd and Elm Streets; and
Whereas, acquisition of this property is an appropriate means of achieving this
goal.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the City Council of the City of Dubuque hereby gives notice of its
intent to acquire the following described property from the Bernard Takes estate and
Elizabeth Takes: "501 - 503 East 22nd Street in the City of Dubuque, Iowa".
.
Section 2. That the Mayor is hereby authorized and directed to execute all
documents necessary to acquire the subject real estate.
Passed, approved and adopted this 15th day of February, 1999.
/J;;
ATTEST:
Mary A. Davis, City Clerk
.
.
.
.
RESOLUTION NO.
-98
RESOLUTION OF INTENT TO ACQUIRE REAL ESTATE AT 501 - 503
EAST 22ND STREET, IN THE CITY OF DUBUQUE, IOWA
WHEREAS, the City of Dubuque is interested in development of a trail head
for Heritage Trail at 22nd and Elm Streets; and
WHEREAS, acquisition of this property is an appropriate means of achieving
this goal; and
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the City Council of the City of Dubuque hereby gives notice
of its intent to acquire the following described property from the Bernard Takes
estate and Elizabeth Takes.
501 - 503 East 22nd Street to the City of Dubuque, Iowa.
Section 2. The Mayor is hereby authorized and directed to execute all
documents necessary to acquire the subject real estate.
Passed, approved and adopted this 15th day of February, 1999.
Ann E. Michalski
Mayor Pro-tem
Attest:
Mary A. Davis
City Clerk
PK
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tiLTOR-qp
To. SE CONTRACT, daled
eerning real estate commonly known ~s:
INSPECTION ADDENDUM
:;z - 3 19~ ' by
503 C ;:),:)nd ~r.
(Qu.." MOUs..c
O.I'O"'U.llr,
and betweon Iho undersigned Pure/laser
[)11~lU :IA./
and Seller con.
II is mutually agreed by ond between the undersigned Ihat:
INSPECTION: (Section No.1 or NO.2 MUST BE CIRCLED)
1. Within _ days aller date 01 acceplance of said Purchase Contract, Purchaser shall have the righl to conduct a physical inspection, at the
Purchaser's expense, by a qualilied independent inspeclor. Inspections shall include Ihe following checked items: 0 foundations; 0 base-
ment; 0 crawl space;O roof; 0 allic; 0 gullers and downspoul; 0 eXlerior walls; 0 ceilings, walls and floors; 0 electrical; 0 buill-in
appliances; 0 plumbing; 0 healing; 0 cooling; 0 properly grading; 0 well; 0 water quality; 0 septic system (water quality and septic
to meetlhe local county Ileallh standards).
Olher
IIlhe inspection is not compleled within Ihe aforementioned lime period, Ihe condition of Ihe property shall be deemed 10 have been accepted
for all purposes by the purchaser(s),
The fOllowing terms shall define Ihe rights to Ihe Seller and Purchaser;
This inspection report will be used lor this transaclion only. II Purchasers require repairs 10 be made, Purchasers will provide a lull copy of
the inspection report 10 the Sellers and also the buying agent and selling agent.
Sellers aro roquired 10 disclose all latent defects of tho property.
If Ihe inspeclion report describes a' condilion of the properly not previously disclosod by the Seller, which in Purchaser's judgement is a
defective condilion, Purchaser shall give Seller wrillen notice, together with a lull copy of Ihe inspection report, within 7 days aller said
inspection date, outlining the repairs <1nd improvements (hat must be made in order 10 remedy any defect. If a written notice from Purchaser
to Seller is nol received within Ihe 7 day period, the condition ot the property shall be doemed to have been accepted for all purposes.
Seller shall notify Purchaser within 5 days atter receipt 01 Purchaser's notice and copy of inspection report whether or not Seller agrees 10
make Ihe required repairs or improvements.
If Seller informs Purchaser that the Seller will not make such repairs or improvements. Purchaser m~y terminate the Purchase Conlract
and the earnest money deposit shall lorthwith be returned 10 Ihe Purchaser. Seller's failure 10 so nOlify the Purchaser will be deemed 10 be
an election not 10 make tho repairs. If Seller agrees 10 make such repairs or improvements. all work is to be completed in a workman.
~ike manner according to standard practices and all applicabte building codes, Seller shall make every ollorl 10 complete same prior
o closing. If Seller is unable to compiete same prior to closing,d the cost of said completion shall be paid info escrow af closing.
otwithslanding the lorego;ng, Purchaser and Seller agree that if the inspection report describes a condition of the properly as one which
can be remedied by ROUTINE MAiNTENANCE OR NORMAL SERVICING, such condition shall not constitute a uround for termination ot
the Purchase Confract.
Additionally, with respect 10 ilems noted in said inspection report to have reached or exceeded normal uselul Iile, so long as such ilems
are in working order, such condition shall not bo a basis for finding that said ilems are in defective condition, and Seller shall nol be required
to repair or replace such items.
Excepl as expressly provided in this Agreement, it is understood Ihal Seller makes no representation as to the condition or stale of ropair
of the property and has made no agreement to alter, repair or improvo the property excepl as provided herein. It is also understood thaI as
to items disclosed in the inspection report(s) as being in deleclive condition, said i1ems shall no longer be considorod undisclosed.
(3)
If Purchaser waives Purchaser's righl 10 require Seller to repair said defective conditions or if Seller agrees to repair said defective items.
Purchaser waives any right 10 rescind this Agreement based upon such condition.
Inspections required by FHA, VA or lender do nol necessarily eliminate Ihe need lor other inspections.
Purchaser has been made aware that independent inspections disclosing the condition of Ihe property are available: and has been allorded
the opportunity to require as a condition of Iho Agreemenllhe above-mentioned inspections. However, Purchasor hereby waives inspec-
tions and relies upon the condition of Ihe property based upon his own examination and releases the Seller. Broker, and Salespersons from
any and all liability relating I~ any defect or deliclency allecting Ihe properly, which waiver shall sUlvive the closin<),
RADON: (Section.blD." J or No.4 MUST BE CIRCLED)
3. Within _ days 01 acceptance of said Purchase Contract, Purchaser shall have Ihe right 10 conduct a Radon Inspection at Purchaser's
expense, to be performed by a licensed inspeclor. Purchaser shall give Seller wrillen notice in the form of "RESPONSE TO RADON
INSPECTION REPORr within 3 days of receipt 01 inspection results. If a wrillen notice is nol received within the J day period, which shall
nol exceed TO days aller inspection date. Ihe condition of Ihe property shall be deemed to have been accepted lor all purposes.
f)
Purchaser has been made aware Ihat independent inspections disclosing the level of radon gas in tho property arc available and has been
affordod Iho opportunity 10 require, as a condition of the Purchase Contract, such an inspection, However, Purchaser hereby waivos this
inspection, and relies upon Ihe condition of Ihe property based on his own examination, Purchaser hereby releases Seller, Broker, REAL-
TORS, Iheir companies and Iheir sales associates Irom any and all liability relating to any Radon defecl affecting said real eStale, which
releaso shall sUlvive closing.
shall be attached to and made pari of said Purchase ContracT. ? ~cUkA ~
;f -3-7/ 2;0./
Purchaser Date Seller
Dale Purchaser Date r2o~ Seller
2.-.7-19 a ~<" --
Dale REALTOR Dale REALTOR
DBR6 6/96
PLEASE PRESS FIRMLY
For use by Dubuque Multiple Listing Service members only,
-:--0.
Pag", ~ of contract tll purchase daled
. ADDmONAL PROVISIONS.
a) If this agreement is accepted, Seller(s) agree to pay the Broker's fee for the sale of said premises, in accordance wilh the listing agreement.
Should the Seller(s) and Buyer(s) mutually rescind this contract,Broker's fee shall be paid, unless otherwise agreed.
b.eed that at the time of selllement, funds of the purchase price may be used to ~ay taxes and other items to comply with the above
r ts, same to be handled under the supervision of 0n (CO:l;\ 'I- (2r rfYt.x. p,d1i.,,/ Broker, and subject to approval of Buyer's
all title questions involved, and needed to produce merchanta e title. 0
c) When accepted, this offcr shall become a legal ?indtg contract for the Sale and ~urchase of the a~04e described premises. If this offer is
not accepted by the Seller(s) on or before "') . or (a.m.) ((ii:ii1}) _J. "') , 19 , it shall become null and void and
the initial payment shall be repaid to the Buyer(s) without liability ;m-n;-e part of said agent to either parly.
d) TIlis Purchase Contract shall not be assigned by Buyer(s) without the wrillen consent of Seller(s).
c) TIME IS OF THE ESSENCE IN THIS AGREEMENT.
f) Upon payment of the purchase price, Seller(s) shaJl convey title by Warranty Deed or
g) Broker may continue to offer and show the property for sale and Seller may accept backup offers until c10sin .
. REPRESENTA'DONS. It is understood by Buyer(s) that no representations made by the Seller(s) or his Agent in Ihe negoliation of Ihis sale
arc being relied upon unless incorporated herein or allached hereto in writing and that this properly has been personally inspected by Buyer(s).
Buyer(s) is hereby advised to request that special provisions be wrillen into this contract prior to signing same, to cover any and all conditions
which Buyer(s) might consider to be questionable or problematical (whether such be inspection for termites, drainage, water and soil condi-
lions, adequacy of structure or any components, zoning, boundarics, utility connections, or any other mailers). It is understood that except for
items which arc wrillen herein, lhe described property is being sold 'as is' on the date hereof, and that Agent(s) named herein wiJlnot be held
liable or responsible with respect to any condition which arc presently known or subsequently discovered. SeJler(s) shall maintain the premises
in the same condition as of this date, normal wear and tear excepted.
By acceplance of this offer, the Seller(s) wa.rrants and represents:
That SELLER(S) has no notice or knowledge of any planned public improvement which may result in special assessments or olher liens, that no
government agency has served any notice requiring repair, alterations or correction of any existing conditions, and that the SELLER(S) has no
knowledge of any structural or mechanical defect of material significance in the property, including inadequacy for normal use of any mechani-
cal system, plumbing, heating or cooling, wiring, except as shown on Seller's Disclosure of Property Condition, a copy of which Buyer(s)
acknowledge having received and reviewed.
d.-/1 /
.
91
, 19 . Address
503 f.
:J-2ncl 0r
o LJj LID LCQ
(if none, so state)
The above warranties and representalions of Seller(s) shall survive the closing of this transaction.
. REMEDIES OF THE PARTIES-FORFEITURE-FORECLOSURE.
a) If Buyer(s) fail 10 fulfill this agreement, the Seller(s) may forfeit the same as provided in the laws of the stale in which the property is
located, and all payments made hereunder shall be forfeited.
b) If Seller(s) fail to fulfill this agreement, the Buyer(s) shall have the right 10 have all their payments made hereunder returned 10 them.
c) llition to the foregoing remedies, Buyer(s) and Seller(s) each shall be entitled to any and all other remedies, or actions al law or in
eq ding foreclosure, and the party at faull shall pay cosls and allomey fees, and a receiver may be appoinled.
.0 ROVISIONS.
a) In the event the Seller(s), immedialely prior 10 execution of this contract, holds title to the said property as joint tenants wilh right of sur-
vivorship and nol as tenants in common, said joint tenancy relationship is expressly retained.
b) Unless otherwise provided, this proposal, if signed by more lhan one party, is made by the undersigned Buyer(s) as joint lenants wilh full
rights of survivorship and not as tenants in common.
. POSSESSION. Duyer(s) arc advised to file for homestead and any olher lax exemptions thaI may apply.
The following addendums arc auached (Check/dale all that apply). .
DBRl Counler Offer 0 YON Date DBR2 Sale Contingency
DBR3 Amendmenllo Purchase 0 YON Date Agency Disclosure
DBRS Rental Addendum 0 YON Date Seller's Disclosure of Properly Condition
Dual Agency Disclosure 0 YON Date Inspection Addendum
Lead Base Paint Disclosure 0 YON Date
Other
The foregoing offer is (circle onE-~PT.vEJEcrED COUNTERED this -3- day of
o YON Date
~Y 0 N Date ;,)./3 1cr1
o YON Date
ra""y 0 N Date ~ ~ jqq
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This form approved for use by the Dubuque Board of REALTORS, Inc.
LJj ---.:-.-
QLa.l,IOl..
. l'UH.UlA.sE CUNTl{ACT
'FHIS IS A LEGAL BINDING DOCUMENT, IF NOT UNDERSTOOD SEEK LEGAL ADVICE
@
AGEl;ICY RELATIONSHIP CONFIRMATION: The following ~gency rel~tionship is hereby confirmed for this transaction:
USTINGAGENT: Rr;~~p" R",,1t-y -~=CF: S-uA-tAl is lheagent oC(checkone):
pri.,O"..._...., (Ji:lthe Seller(s) exclusively; or 0 bolh Buyer(s):1IId Seller(s)
Re/Max Advantage Realty- /",,-- ^DA~, "
G AGENT: ~ '" .... ~~ , is the agent of (check one):
priol n.m ..""'...., ~ the Buycr(s) exclusively; or 0 bolh Buyet(s) and Seller(s)
To Seller(s) F:li 7~1", ton ^ 1'~J<P~
I/We the undersigned hereby propose to purchase your property known as
~01 F ??n<i Sr
Dale
nlthl1Ql1P TA
and legall y described as: (if not available, permission is hereby granted to insert al a later dale)
;-
and agree 10 pay you thercfor thc sum of S 1 S , oon as follows: S \,", , with this proposal, as a deposil, to be hcld in trust
by Rr; ~ ~Py R p, 1 r" pending exchange of final p~pers. DEPOSIT INCREASE: The deposit shall be
increascd 10 S r,-OO within J.- days from acceplance. B~lance of purchase price due at lime of selllement.
· FINANCING: This offcr is conlingent upon Buyer(s) obtaining financing as follows:
II MORTGAGE: (circle one) Convenlional Conventional Insured FHA VA Land Contract DOWN PAYMENT: _ % or S
II INTEREST RATE not 10 exceed - % TERM OF LOAN _ years. Buyer(s) agree 10 pay all cuslom~ry loan cOSlS. Buyer(s) agree
to make application with a lender immedialcly' upon acceplance of this offer and oblain a written commitment or denial of loan on or before
,19_, .1
Ca1
at-
C IOf..e
Olher conlingencies
. LEAD BA ED PAINT: or n must be circled.
A. This contract is contingent upon a risk assessment or inspection of lhe property for lhe presence of lead-based paint and/or paint hazards 1 at
the Buyer(s) expense unlil 9:00 P.M. on the 10th calendar day after acceplance of the Purchase Conlract.
11lis contingency will terminale at the above predelermined deadline unless the Buyer(s) (or Buyer(s) agenl) delivers to lhe Seller(s) (or Seller's
agenl) a written conlract addendum listing the specific cxisting dcficiencies and corrections needed, together wilh a copy of Ihe inspection and/or
risk assessment report. The Seller(s) may, at the Seller's option, within _ d~ys after Delivery of the addendum, elect in writing whether to
correct the condition(s) prior to settlement. If the Seller(s) will correctlhe condilion, Ihe Seller(s) sh~ll furnish the Buyer(s) with certificalion
from a risk assessor or inspector demonstraling th~t the condition h~s bcen remedied before the dale of lhe settlement. If the Seller(s) docs nol
elect 10 make lhe rep~irs, or if the Seller(s) m~kes ~ counter-offer, Ihe Buyer(s) sh~ll h~ve _ d~ys to respond to (he counter-offer or remove
this contingency ~nd t~ke thc property in "as-is" condition or this conlr~ct sh~ll bccome void. Thc Buyer(s) m~y remove this conlingency al ~ny
tili' hout cause.
t Jcad-b~scd paint tllnt is in good condition is not necessarily a hazard.
pamphlet Protect Your Family From Lead in Your Home for more information.
(]) Bu s) h~ been m~de aw~re of le~d b~sed paint possibilily and hcreby waives this inspection.
This agrecment is ~Iso subjcct to the following conditions:
. TAXES-SPECIAL ASSESSMENTS
a) Interest, renlS, homeowners associ~tion assessmcnts, unused fuels ~nd other appropri~te charges shall be pror~ted as of the dale of closing.
Accrued income and expenses, including t~xes for the d~y of closing, shall accrue to Scller(s).
b) Gencr~llaxes sh~1l be pror~ted al the lime of closing bascd on the net generall~xes for the current year, if known, o(hcrwise on the net gener~l
taxes for the preceding yc~r. Caution: if property has nOI bcen fully assessed for t~x purposes, or re~sscssment is compleled or pcnding, lax
proralion shall be on the basis of S estim~led annu~ltax.
c) All speci~l assessments constituling a lien, ~ of dale of seltlcment, ~re 10 be paid by . ..
· S~EMENT AND OCCUPANCY. Settlement sh~lI occur ~nd legal possession sh~1l be given on or before 3 - 5 - q 1 ,
19 ~ . Occup~ncy sh~1l be given to Buyer(s) 8Jt. rJ () ~e , , 19 _ al _ (a.m.) (p.m.). Seller(s) to m~inlain premises
in the s~me condilion as of this d~le, normal we~r excepted.
NOTE: Occupancy m~y be subject 10 lc~ses and ten~nl vac~ncy as follows: (if none, so st~le) (See Form DBRS if ~ppliQble.)
· FIXTURES. The following itcms, provided same exist on the premises on d~le hcreof. Roller sh~des, curtain and drapery rods and fixtures,
venetian blinds, linolcums fastened or wall-to-wall, carpeling fastened or wall-to-wall, st~ir carpets, storm doors ~nd windows, screens for door
and windows, electric lighl fixtures ~nd bulbs, b~lh fixtures, and ~ccessories, perm~ncnl hC~ling ~nd cooling equipmcnt, walcr heater, TV anlen-
n~ (including rolor ;Wd conlrol), s~lcllile dish and control, g~rage door opener and control, firepl~ce screen, fire gr~le and attachcd equipmenl,
all shrubs, lrees aIR! ~II olhcr fixtures 1101 excepted herein; arc 10 be left wilh ~s belonging 10 buildings and premises, ~nd including:
(except)
"REPORT. Sulrjttt-tu . ., pud ,)lrnli'iil'g1nrpasI-e"'F4Hnt-wOOd-dmruytng-pest-infCSlationrtnSpeIltoMll-b~hCl50~nd-pald.h y:-Sclla:...J1u,.~e..'mc)
· INSURANCE. Sellcr(s) sh~ll be~r the risk of loss or d~mage 10 Ihe property prior to closing or possession, whichcver first occurs. Seller(s)
agree 10 maintain exisling insur~nce ~nd Buyer(s) m~y purchase ~ddilional insurance. In Ihe evenl of substanli~1 dam.ll;e or destruction prior 10
closing, this Agreemcnt shall be null ~nd void, unlcss olhcrwise ~greed by the Parties. The properly sh~1I be deemed substanli~lIy d~m~ged or
destroyed if il cannot be restored 10 its present condilion on or before the closing d~te. Provided however, Buycr(s) shall have the right to
complete the closing ~nd rcceive insur~nce proceeds regardless of the extent of d~m~ges.
· ABSTRACT. Seller(s) sh~1I furnish Buycr(s) an abstracl of lillc, beginning wilh dale of pl~lting or govcrnment entry, continued with 30 days
of settlement d~le. If ~bstr~ct does nol show good and merch~nl~ble title 10 said propCrly, free and cle~r of all liens and encumbr~nces, nol
expr~waived or assumed by Buycr(s), Seller(s) sh~1l corrcct defects in title before selllement is m~de. Municip~l bUilding codes and zoning
ordi r mineral reservalions shall nol be construed as tille encumbmnces. Seller(s) shall p~y costs of additional ahslr~cling and/or title
wor ct or omission of Seller(s), including transfers by de~lh of Seller(s) and/or assigns. Merchant~ble titlc to he cst~blished by the
existil law and title st~nd~rd of Ihe stale in which the property is 10C~led.
:~\ I I ;),(' 11 / O.le Seller 7 fl-__ tth-?' a. ~~.J O.'e ..{ -:3 -'7'1
: :JU.... 't--' .J
110f2
Dale
Seller
Datc_
This form ~pproved for use by the Dubuque Bo~rd of REALTORS, Inc.
1/97
,
CITY OF DUBUQUE, IOWA
MEMORANDUM
February 8, 1999
TO: Michael C. Van Milligen, City Manager
FROM: Gil D. Spence, Leisure Services Manage~
SUBJECT: Purchase of property at 22nd and Elm Streets
INTRODUCTION
The purpose of this memorandum is to request that the City Council approve the
purchase agreement for 501 - 503 22nd Street for development of a trail head for
Heritage Trail.
.
DISCUSSION
This lot at the corner of 22nd and Elm Streets would make an excellent location for
a trail head for Heritage Trail. There would be enough room on this property to
develop a parking lot for eight cars, as well as landscaping and seating. The
Heritage Trail section from 22nd to 32nd Streets will be constructed this summer
and with little on street parking available in this area of town, it is important that
we develop parking for trail users that transport themselves to the trail.
A Restricted Appraisal was done by Tom Kane of Kane Appraisal and Real Estate,
Inc., to estimate the market value of the property. This appraisal estimated the
market value between $35,000 and $38,000. Originally the asking price was
$49,000, but it was reduced to $42,000 prior to the appraisal.
The City Council authorized negotiations and an initial offer of $35,000 was made.
This offer was accepted and the purchase agreement is attached.
ACTION STEP
The action requested is that the City Council approve the purchase agreement for
501 - 503 22nd Street and authorize the Mayor to sign it.
.
GDS:jlr
attachment
.
.
.
RESOLUTION NO.
-98
RESOLUTION OF INTENT TO ACQUIRE REAL ESTATE AT 501 - 503
EAST 22ND STREET, IN THE CITY OF DUBUQUE, IOWA
WHEREAS, the City of Dubuque is interested in development of a trail head
for Heritage Trail at 22nd and Elm Streets; and
WHEREAS, acquisition of this property is an appropriate means of achieving
this goal; and
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. That the City Council of the City of Dubuque hereby gives notice
of its intent to acquire the following described property from the Bernard Takes
estate and Elizabeth Takes.
501 - 503 East 22nd Street to the City of Dubuque, Iowa.
Section 2. The Mayor is hereby authorized and directed to execute all
documents necessary to acquire the subject real estate.
Passed, approved and adopted this 15th day of February, 1999.
Ann E. Michalski
Mayor Pro-tem
Attest:
Mary A. Davis
City Clerk
PK
"m"
~TOR-I!l
"Ii SE CONTRACT, daled
eerning e real estate commonly known as:
(E)
INSPECTION ADDENDUM
2. - 3 19~ ' by
503 C. .::nl"ld ~r.
(QUAI" ~s.-c
O""OlllfUNlf,
and betweon 1110 undersigned Purchasor
[) 11 buyp ~ :7iA. "
and Seller con-
It is mutually agreed by and between Ihe undersigned Ihat:
INSPECTION: (SecUon No.1 or No.2 MUST BE CIRCLED)
1. Within _ days alter date 01 acceptance of said Purchase Conlract, Purchaser shall have lhe right 10 cenducl a physical inspectien, atlhe
Purchaser's expense. by a quaiified independent inspector. Inspections shall include Ihe following checked items: 0 foundalions; 0 base-
menl; 0 crawl space;O real; 0 allic; 0 gulters and downspout; 0 eXlerior walls; 0 celiings, walls and f100,,; 0 electrical; 0 buill-in
appliances; 0 plumbing; 0 11Oaling; 0 cooiing; 0 property grading; 0 well; 0 waler quality; 0 septic system (water quaiily and septic
10 meetlhe local county Ileallh standards).
Olher
II the inspection is not completed wilhin Ihe aforementioned time period, Ihe condilion at Ihe property shall be deemed to have been accepted
for all purposes by Ihe purchaser(s).
The lollowing terms shall deline Ihe rights 10 the Seller and Purchaser;
This inspection report will be used for this transaclion only. If Purchasers require repairs 10 be made, Purchasers wlfl provide a lufl copy of
the Inspection report 10 the Sellers and also the buying agent and selling agent.
Sellers ara required 10 disclo~e alllatenl detecls of the property.
If the inspeclion report describes a' condition of Ihe property not previously disclosed by Ihe Seller, which in Purchaser's judgement is a
defective condition, Purchaser shall give Seller wrillen notice, together with a lull copy 01 Ihe inspection report, wilhin 7 days aller said
inspection date, outlining the repairs Clod improvements that must be made in order to remedy any defect. If a written notice from Purchaser
10 Seller is not received wllhin Ihe 7 day period, Ihe condition 01 the properly shall be deemed to have been accepted for all purposes.
Seller shall notify Purchaser within 5 days aller receipl of Purchaser's notice and copy 01 inspection report whether or not Seller agrees 10
make (he required repairs or improvements.
If Seller informs Purchaser Illat the Seller will not make such repairs or improvements. Purchaser mny terminate the Purchase Contract
and Ihe earnest money deposit shall forthwith be returned 10 Ihe Purchaser. Seller's lailure 10 so nOlify Ihe Purchaser will be deemed to be
an election not 10 make tho repairs. It Seller agrees to make such repairs or improvements, all work is to be completed in a workman-
_like manner according to standard practices and all applic:::J.blc building codes, Soller shall make every ollort 10 complete sarno prior
to closing. II Seller is unable 10 complete same prior to closing,d Ihe cost of said completion shall be paid inlo escrow at closing.
Notwithslanding the loregoing, Purchaser and Seller agree that illhe inspection report descnbes a cendition 01 the property as one wlOlch
can be remedied by ROUTINE MAINTENANCE OR NORMAL SERVtCING, such condition shall not constilule a uround lor termination 01
Ihe Purchase Contract.
Additionally, with respect 10 ilems noted in said inspection report to have reached or exceeded normal useful life, so long as such Items
are in working order, such condition shall not be a basis lor linding thaI said ilems are in deleclive condition, and Seller shall not be required
to repair or replace such items_
Except as expressly provided in this Agreement, it is understood that Seller makes no representation as to Ihe condilion or stale of repair
01 the property and has made no agreement to aller, repair or improve the property except as provided herein. II is also understood Ihal as
to items disciosed in the inspection report(s) as being in defective cendition, said items shall no longer be considered undisclosed.
If Purchnsor waives Purch.J.~cr's right to require Seller to repair said defective conditions or it Seller agrees to repair said defective items.
Purchaser waives any right 10 rescind Ihis Agreement based upon such condition.
Inspections required by FHA, VA or lender do not necessarily eliminate Ihe need lor other inspections.
C3> Purchaser has been made aware that independent in spec lions disclosing Ihe condition ollhe property are available and has bean allorded
the opportunity to require as a condition 01 the Agreement the above-mentioned inspeclions. However, Purchaser hereby waives inspec-
lions and relies upon Ihe condition ollhe property based upon his ewn examination and releases the Seller, Broker. and Salespersons from
any and all liability relating I" any defect or deficiency affecting the property, which waiver shall survive the closinu.
RADON: (Sectlon./llQ." 3 or No, 4 MUST BE CIRCLED)
3. Within _ days 01 acceptance of said Purchase Contract, Purchaser shall have the right to conducl a Radon Inspection at Purchaser's
expense, to be penormed by a licensed inspector. Purchaser shall give Seller wrillen notice in Ihe form 01 "RESPONSE TO RADON
INSPECTION REPORr within 3 days of receipt 01 inspection resulls. II a wrillen notice is not received within the J day penod, which shall
not exceed 10 days aller inspeclion date, the condition of Ihe property shall be deemed to have been accepted for all purposes.
f)
Purchaser has been made aware that independent inspections disclosing the level at radon gas in the property are available and has been
afforded the opportunity 10 require, as a condition at lhe PurChase Contract, such an inspection. However, Purchaser hereby waives this
inspection, and relies upon the condition ollhe property based on his own examination. Purchaser hereby releases Seller, Broker, REAL-
TORS, Iheir companies and Iheir sales associates Irom any and allliabilily relating 10 any Radon delect altecting said real estate, which
release shall survive closing.
e shall be allached to and made part 01 said Purchase Contract.
;{ -3-7 C;
Purchaser Date
? ZyiUh4 :Z;--/L~
Seller
Date
Purchaser
Dale
Date
2..-7-'19
Date
(20 Q., (J
Seller
REALTOR
~<,~
-------
REALTOR
DBR6 6/96
PLEASE PRESS FIRMLY
For use by Dubuque Mulliple Listing Service members only, .
oJ
---....
Page 7- of contractt\) purchase dated
. ADDITIONAL PROVISIONS.
a) If this ~greemenl is accepted, Seller(s) agree to pay the Broker's fee for the sale of said premises, in accordance wilh the listing agreement.
Should the Seller(s) and Buyer(s) mutually rescind this contract,Broker's fee shall be paid, unless otherwise agreed.
b.eed that at the lime of selllemenl, funds of the purchase price may be used 10 ft,y taxes and olher ilems to comply wilh the above
r ts, same to be handled under the supervision of 0n~<:o] 'f.. ~l' rfYtt. . ,,111.,,/ Broker, and subject to approval of Buyer's
all litle questions involved, and needed to produce merchanta e title. 0
c) When accepted, this offer shall become a legal ~indtg contract for the Sale and ~urchase of Ihe a?f~e described premises. lC this offer is
not accepted by lhe SeHer(s) on or be Core ") . or (a.m.) ((ji:ii1}) _J. ") , 19 , it shall become null and void and
the initial paymelU shall be repaid to Ihe Buyer(s) wilhoutliability ;)nrfie pari of said agent 10 eilher party.
d) 11lis Purchase Contract shall not be assigned by Buyer(s) wilhoutlhe wrillen consent of Seller(s).
c) TIME IS OF TIlE ESSENCE IN THIS AGREEMENT.
f) Upon payment of the purchase price, Seller(s) shall convey title by Warranty Deed or
g) Broker may continue to offer and show the properly (or sale and Seller may accept backup offers until closin .
· REPRESENTA'I10NS. It is understood by Euyer(s) that no reprcsentalions made by the Scller(s) or his Agent in the negotiation of 1l1is sale
arc being relied upon unless incorporated herein or allached hereto in writing and that this property has been personally inspected by Buyer(s).
Buyer(s) is hereby advised to request that special provisions be wrillen into lhis conlract prior to signing same, to cover any and all eondilions
which Buyer(s) might consider to be questionable or problematical (whether such be inspection (or termiles, drainage, water and soil condi-
lions, adequacy of slructure or any components, zoning, boundaries, utility connections, or any other mailers). It is understood that except (or
items which arc \Vrillen herein, the described properly is being sold "as is" on Ihe dale hereof, and that Agent(s) named herein will not be held
liable or responsible with respect to any condition which arc presenlly known or subsequently discovered. Seller(s) shall maimain lhe premises
in lhe same condition as of this date, normal wear and tear excepted.
By acceptance of Ihis oCfer, the Seller(s) ~a.rrants and represents:
That SELLER(S) has no notice or knowledge of any planned public improvement which may result in special assessments or other liens, that no
government agency has served any notice requiring repair, alterations or correction of any existing conditions, and that the SELLER(S) has no
knowledge of any structural or mechanical defect of malcrial significance in the property, including inadequacy for normal use o( any mechani-
cal system, plumbing, heating or cooling, wiring, except as shown on Seller's Disclosure of Property Condition, a copy of which Buyer(s)
acknowledge having received and reviewed.
d.-/1/
,
91
, 19 , Address
5()3 r.
:l2ncl s:r.
{)L( );(13 LU
,ff] ( p
(if none, so state)
The above warranties and representations of Seller(s) shall survive the closing o( this transaction.
. REMEDIES OF THE PARTIES-FORFEITURE-FORECLOSURE.
a) If Buyer(s) fail to fulfill this agreement, the Seller(s) may forfeit the same as provided in the laws oC the stale in which the property is
located, and all payments made hereunder shall be forfeited.
b) If Seller(s) (ail to fulfill this agreement, the Buyer(s) shall have the right to have all their payments made hereunder returned to them.
c) IItion to the foregoing remedies, Buyer(s) and Seller(s) each shall be entitled to any and all other remedies, or aclions at law or in
eq ding foreclosure, and lhe parly at fault shall pay costs and altorney fees, and a receiver may be appoinled.
.0 ROVISIONS.
a) In Ihe event the SeHer(s), immediately prior to execulion of this COlllrac!, holds tille to the said property as joint tenants with right of sur-
vivorship and not as tenants in common, said joint tenancy relalionship is expressly retained.
b) Unless otherwise provided, this proposal, if signed by more than one party, is made by the undersigned Buyer(s) as joint tenants with full
rights of survivorship and not as tenants in common.
. POSSESSION. I3uyer(s) are advised to file for homestead and any other tax exemptions that may apply.
The (ollowing addendums arc altached (check/date alllhat apply). '
DBR1 Counter Offer 0 YON Dale DBR2 Sale Contingency
DBR3 Amendment to Purchase 0 YON Date Agency Disclosure
DBRS Rental Addendum 0 YON Date Seller's Disclosure of Property Condition
Dual Agency Disclosure 0 YON Date Inspection Addendum
Lead Base Paint Disclosure 0 YON Date
Olher
11le foregoing offer is (circle onE-;;E-;;'.vElECTED COUNTERED this --3-- day of
o YON Date
I3Y 0 N Date .)-/3 ftfc(
o YON Date
ra"'Y 0 N Date:.Lj ~ /qq
FFR,.
,19~
lyre name bere
SS.
Dalc
SS.
Phone'
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(Seller's Sign:2',c)
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This form approved for use by lhe Dubuque Board of REALTORS, Inc.
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l'UH.UlA,s.c. CONT!V\CT
THIS IS A LEGAL BINDING DOCUMENT, IF NOT UNDERSTOOD SEEK LEGAL ADVICE
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AGENCY RELATIONSHIP CONFIRMATION: The following agency relationship is hereby confirmcd for this transaction:
USTI~G AGENT: Rri" ""y Rp" 1 ~y -~= C1E.. SJ1ACAI is Ihe agent of (check one):
pri.. 0"""""'1'"' Cllthe Seller(s) exclusively; Dr 0 bolh Buyer(s) and Seller(s)
Re/Max Advantage Realty_ r.,.,__ ^D^~'....
~..... ,... "" , is the agent of (check one):
priAIO,.. """"'I'" ~ the Buyer(s) exclusively; Dr 0 bolh Buyer(s) and Seller(s)
: See allac},cdAGENCY DISCLOSURE form required by law.
ToSeller(s) Rli,."hprh ^ 1',,1<,,<:
lNVe the undersigned hereby propose to purchase your property known as
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Dale
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and legally described as: (if not available, permission is hereby granled 10 insert at a laler dale)
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and agree 10 pay you thcrefor lhe sum of S 1'i nnn as follows: S ' I wilh this proposal, as a deposil, to be held in trust
by llri ""Py Rp;1 1 ~y pending exchange DC final papers. DEPOSIT INCREASE: The deposit shall be
increased 10 S r,'bO within.J.- days from acceplance. Balance of purchase price due altime oC selllement.
· FINANCING: This offer is conlingent upon Buyer(s) obtaining financing as follows:
.I! MORTGAGE: (circle one) Conventional ConvenlionalInsured FHA VA LandConlract DOWN PAYMENT: _ %or$
II INTEREST RATE not to exceed - % TERM OF LOAN _ years. Buyer(s) agree to pay all customary loan costs. Buyer(s) agree
to make application with a lender immedialely-upon acceptance of this offer and oblain a wrillen commitment Dr denial of loan on or before
,19_. 1
CaB
rd
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Olher conlingencies
. LEAD BA ED PAINT: or n must be circled.
A. TIlis conlraet is conlingent upon a risk assessment Dr inspection of lhe property for lhe presence of lead-based paint and/or paint hazards 1 at
the Buyer(s) expense unlil 9:00 P.M. on lhe 10th calendar day aCler acceplance of lhe Purchase Conlract.
This contingency willterminale at lhe above predelermined deadline unless the Buyer(s) (Dr Buyer(s) agenl) delivers 10 the Seller(s) (or Seller's
agen!) a wrillen contract addendum listing the specific existing deficiencies and corrections needcd, logether with a copy of the inspection andlor
risk assessment report. Thc Seller(s) may, althe Seller's option, within _ days aCler Delivery of the addendum, elect in writing whether to
correctlhe condition(s) prior to selllemenl. If the Seller(s) will corrcctthe condition, the Scller(s) shall furnish the Buyer(s) with certificalion
from a risk assessor Dr inspector demonslrating that the condition has been remedied bcfore the dale of the setllcment. If the Seller(s) docs nOI
elect to make the repairs, Dr if the Seller(s) makcs a counter-offer, the Buyer(s) shall have _ days to respond to the counter-offer or remove
this contingency and take the property in 'as-is" condition or this contract shall become void. The Buycr(s) may remove this contingency al any
tili'lhOUI cause.
t lead-based paint lhat is in good condition is not necessarily a hazard.
pamphlctProlecl Your Family From Lead in Your Home for more information.
(]> Bu has been made aware of lead based paint possibility and hereby waives Ihis inspection.
This agreement is also subject 10 the following conditions:
. TAXES-SPECIAL ASSESSMENTS
a) Interest, rents, homeowners associalion assessments, unused Cuels and other appropriate charges shall be prorated as of the date of closing.
Accrued income and expenses, including taxes for Ihe day of closing, shall accrue to Seller(s).
b) General taxes shall be prorated at the time of closing based on the net general taxes for Ihe current year, if known, olherwise on Ihe net general
taxes for the preceding year. Caution: if property has not been fully assessed for tax purposes, or reassessment is compleled or pcnding, tax
proration shall be on the basis of $ estimated annual tax.
c) All special assessments constituting a lien, as of dale of selllement, arc to be paid by . .
· S~EMENT AND OCCUPANCY. Settlement shall occur and legal possession shall be given on Dr before ,) -- 5 -- q 1 ,
19 4!:f- . Occupancy shall be given to Buyer(s) art. cJ tJ ~~ _ , 19 _ at _ (a.m.) (p.m.). Seller(s) 10 maintain premises
in the same condition as of Ihis date, normal wear excepled.
NOTE: Occupancy may be subject to leases and tenant vacancy as follows: (if none, so state) (See Form DBR5 if applicable.)
· FIXTURES. The following items, provided same exist on the premises on dale hereof. Roller shades, curtain and drapery rods and fixlures,
venetian blinds, Iinoleums fastened Dr wall-Io-wall, carpeting fastened or wall-to-wall, slair carpets, storm doors and windows, screens for door
and windows, electric light fixtures and bulbs, bath fixtures, and accessories, permanent healing and cooling equipmelll, waler healer, TV anlen-
na (including rolor :wd control), salellite dish and conlrol, garage door opener and control, fireplace screen, fire grate and allached equipment,
all shrubs, trees alltl all othcr fixtures not excepted herein; arc to be left with as belonging to buildings and premises, and including:
(except)
_REPORT. Sultj~t1u . "purt slloll Ing ulT'J'tiI-<l~RSent-wood-dmi'llytng-pest-infC3talion.-lnspeGtot'-to-bt"1:bCl5.n.and-paid..llY.:-Scllec-BuY4l'_{cl~t..Onc:)
· INSURANCE. Seller(s) shall bear lhe risk of loss or damage to the property prior to closing Dr possession, whichever first occurs. Seller(s)
agree to maintain existing insurance and Buyer(s) may purchase additional insurance. In lhe event of substantial dama.;e Dr destruction prior to
closing, this Agreement shall be null and void, unless otherwise agreed by the Parties. The property shall be deemed substantially damaged Dr
destroyed if it cannot be restored 10 its present condilion on Dr before the closing date. Provided however, Buyer(s) shall have the right to
complete the closing and receive insurance proceeds regardless of the extent of damages.
· ADSTRAcr. Seller(s) shall furnish Buyer(s) an abstract of tille, beginning with date of plalling Dr government entry, continued with 30 days
of selllement date. If abstract does nut show good and merchantable tille to said property, free and clear of all liens and encumbrances, not
exp.esSI waived Dr assumed by Buyer(s), Seller(s) shall correct defects in title before seltlement is made. Municipal building codes and zoning
ord' or mine",1 reservations shall nol be construed as lille encumbrancc... Scller(s) shall pay costs of additional ahstracting and/or tille
wo et or omission of Seller(s), including transfers by death of Seller(s) and/or assigns. Merchantable title 10 he established by the
exist. law and tille standard of the stale in which the property is located.
.~\ I III "./1 / Oa'e Seller ;.:~.... I1k~ a. ~~~) Oa'e .,s:3 -'7'7
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Dale
Seller
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This form approved for use by the Dubuque Board of REALTORS, Inc.
1/97
.
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CITY OF DUBUQUE, IOWA
MEMORANDUM
February 11, 1999
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT:
Purchase of Property at 22nd and Elm Streets
.
Leisure Services Manager Gil Spence is recommending approval of a purchase
agreement for 501 - 502 22nd Street for development of a trail head for the
Heritage Trail extension from 22nd to 32nd Streets, which is scheduled for
construction this summer.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
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Michael C. Van Milligen
MCVM/j
Attachment
cc: Barry Lindahl, Corporation Counsel
Tim Moerman, Assistant City Manager
Gil Spence, Leisure Services Manager
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CITY OF DUBUQUE, IOWA
MEMORANDUM
February 11, 1999
FROM: Gil D. Spence, leisure Services Manager
TO: Michael C. Van Milligen, City Manager
SUBJECT: Purchase of property at 22nd and Elm Streets
INTRODUCTION
The purpose of this memorandum is to request that the City Council approve the
purchase agreement for 501 - 503 22nd Street for development of a trail head for
Heritage Trail.
. DISCUSSION
This lot at the corner of 22nd and Elm Streets would make an excellent location for
a trail head for Heritage Trail. There would be enough room on this property to
develop a parking lot for eight cars, as well as landscaping and seating. The
Heritage Trail section from 22nd to 32nd Streets will be constructed this summer
and with little on street parking available in this area of town, it is important that
we develop parking for trail users that transport themselves to the trail.
A Restricted Appraisal was done by Tom Kane of Kane Appraisal and Real Estate,
Inc., to estimate the market value of the property. This appraisal estimated the
market value between $35,000 and $38,000.
The City Council authorized negotiations and the $35,000 purchase agreement is
attached.
ACTION STEP
The action requested is that the City Council approve the purchase agreement for
501 - 503 22nd Street and authorize the Mayor to sign it.
.
GDS:jlr
attachment