Port of Dubuque Adams Devel Warranty DeedTHE CITY OF _~,,.
DLTB E MEMORANDUM
Masterpiece an fhe Mississippi
May 15, 2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Port of Dubuque Adams Development, LLC
When the Development Agreement between the City of Dubuque, Port of Dubuque
Adams Development, LLC, and the Durrant Group, LLC was approved by the City
Council on January 23, 2007, the property for the Durrant project had not yet been
surveyed and platted so the correct legal description for a deed had not yet been
determined. The property has now been surveyed and platted. City Attorney Barry
Lindahl is recommending approval of a resolution disposing of property by deed to Port
of Dubuque Adams Development, LLC.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
,2z
Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Prepared by: Barry A. Lindahl 300 Main Street, Suite 330, Dubuque IA 52001 563 583-4113
Return to: Barry A. Lindahl 300 Main Street, Suite 330, Dubuque IA 52001 563 583-4113
RESOLUTION NO. 295-07
DISPOSING OF AN INTEREST IN REAL PROPERTY BY DEED TO PORT OF
DUBUQUE ADAMS DEVELOPMENT, L.L.C.
WHEREAS, the City of Dubuque, Iowa (City) is the owner of the following real
property (the Property):
Lot 2-2 in Adams Company's Fourth Addition in the City of Dubuque, Iowa,
according to the recorded plat thereof (the Property);
and
WHEREAS, City and Port of Dubuque Adams Development, L.L.C. have entered
into a Development Agreement pursuant to which City will convey the Property to Port of
Dubuque Adams Development, L.L.C.; and
WHEREAS, on May 21, 2007, the City Council pursuant to notice published as
required by law held a public hearing on its intent to dispose of the foregoing interest in
the Property and overruled all objections thereto; and
WHEREAS, the City Council finds that it is in the best interest of the City to approve
the disposition of the Property.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DUBUQUE, IOWA:
Section 1. Upon fulfillment of the conditions in the Development Agreement, the
Mayor is hereby authorized and directed to execute a deed disposing of all of the City's
right, title and interest in the Property to Port of Dubuque Adams Development, L.L.C.
Passed, approved and adopted this 21 st day of May, 2007.
G' ~
Roy D. gaol, Mayor
Attest: ,%
Attest: Kevin S. Firnstahl
Asst. City Clerk
Prepared by: Barry A. Lindahl 300 Main Street, Suite 330, Dubuque IA 52001 563 583-4113
Return to: Barry A. Lindahl 300 Main Street, Suite 330, Dubuque IA 52001 563 583-4113
Tax Statement to:
Port of Dubuque Adams Development, L.L.C.
c/o Wayne A. Briggs
137 Main Street, Suite 400
Dubuque IA 52002
SPECIAL WARRANTY DEED
KNOW ALL MEN BY THESE PRESENTS: that the City of Dubuque, Iowa,
a municipal corporation of the State of Iowa (Grantor), in consideration of the
Grantee named below undertaking the obligations of the Developer under the
Development Agreement described below and the sum of Three Hundred Sixty-
Six Thousand Three Hundred Eighty-Eight and no/100 Dollars ($366,388.00) in
hand paid, and other good and valuable consideration, and pursuant to the
authority of Chapter 403, Code of Iowa, does hereby GRANT, SELL AND
CONVEY unto Port of Dubuque Adams Development, L.L.C., an Iowa limited
liability company (Grantee), the following described parcel(s) situated in the
County of Dubuque, State of Iowa, to wit (the Property):
Lot 2-2 in Adams Company's Fourth Addition in the City of Dubuque,
Iowa, according to the recorded plat thereof
This Deed is exempt from transfer tax pursuant to Iowa Code section
428A.2(6).
This Deed is given pursuant to the authority of Resolution No. 35-07 of the
City Council of the City of Dubuque adopted the 16th day of January, 2007, the
terms and conditions thereof, if any, having been fulfilled.
This Deed is being delivered in fulfillment of Grantor's obligations under
and is subject to all the terms, provisions, covenants, conditions and restrictions
contained in that certain Development Agreement executed by Grantor and
Grantee herein, dated the 23rd day of January, 2007, (the Agreement), a
memorandum of which was recorded on the . 5th day of _ ApriL, 2007, in
the records of the Recorder of Dubuque County, Iowa, Instrument Number
2007-00004828
Promptly after completion of the improvements in accordance with the
provisions of the Agreement, Grantor will furnish Grantee with a CertifICate of
Completion in the form set forth in the Agr<8ement. Such certification by Grantor
shall be, and the certification itself shall so state, a conclusive determination of
satisfaction and termination of the agreements and covenants of the Agreement
and of this Deed with respect to the obligation of Grantee, and its successors and
assigns, to construct improvements and the dates for the beginning and
completion thereof, it being the intention of the parties that upon the granttng and
filing of the Certificate of Completion that all restrictions and reservations of title
contained in this Deed be forever released and terminated and that any
remaining obligations of Grantee pursuant to the Agreement shall be personal
only.
All certifications provided for herein shall be in such form as will enable
them to be recorded with the County Recorder of Dubuque, Iowa. If Grantor
shall refuse or fail to provide any such certification in accordance with the
provisions of the Agreement and this Deed, Grantor shall, within twenty days
after written request by Grantee, provide Grantee with a written statement
indicating in adequate detail in what respects Grantee has failed to complete the
improvements in accordance with the provisions of the Agreement or is otherwise
in default, and what measures or acts will be necessary, in the opinion of
Grantor, for Grantee to take or perform in order to obtain such certification.
In the event that an Event of Default occurs under the Agreement and
Grantee herein shall fail to cure such default within the period and in the manner
stated in the Agreement, then Grantor shall have the right to re-enter and take
possession of the Property and to terminate and revest in Grantor the estate
conveyed by this Deed to Grantee, its assigns and successors in interest, in
accordance with the terms of the Agreement.
None of the provisions of the Agreement shall be deemed merged tn,
affected or impaired by this Deed.
Grantor hereby covenants to warrant and defend the said premises
against the lawful claims of all persons whomsoever claiming by, through and
under it.
Dated this 7th of Ma.y , 2007 at Dubuque, Iowa.
Attest:
By: ~~ ~/
eanne F. Schneider, City Clerk
S ATE OF IOWA )
COUNTY OF DUBUQUE )
CITY OFD U~QU IOWA
By: ld
Roy uol, Mayor
SS
On this 7th day of ~•1aY , 2007, before me a Notary Public
in and for said County, personally appeared Roy D. Buol and Jeanne F.
Schneider to me personally known, who being duly sworn, did say that they are
the Mayor and City Clerk, respectively of the City of Dubuque, Iowa, a Municipal
Corporation, created and existing under the laws of the State of Iowa, and that
the seal affixed to the foregoing instrument is the seal of said Municipal
Corporation, and that said instrument was signed and sealed on behalf of said
Municipal Corporation by authority and resolution of its City Council and said
Mayor and City Clerk acknowledged said instrument to be the free act and deed
of said Municipal Corporation by it voluntarily executed.
Notary lic in and for ubuque County, Iowa
a~P'"~ aF KEVIN s, FIRNS i AML
~ COMM18810N N0,746285
• MY COMMt9SlON EXPIRES
'Ow" 2h2/10