Purchase of Corner of White Street_Plastic CenterTHE CITY OF
DUB UE
Masterpiece an the Mississippi
MEMORANDUM
August 15, 2007
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: Purchase of Property from Plastic Center, Inc. at the Corner of White
Street and US Hwy. 61 for the Construction of a Sign
City Attorney Barry Lindahl recommends City Council approval of the Offer to Buy Real
Estate and Acceptance for the purchase of property from Plastic Center, Inc. at the
corner of White Street and US Hwy. 61 for the construction of a Port of Dubuque sign.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
Mi ael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, City Attorney
Cindy Steinhauser, Assistant City Manager
Gil Spence, Leisure Services Manager
THE CITY OF ~.
DUB -.~
Masterpiece orI the Mississippi
BARRY LINDAHL
CITY ATTORNEY
MEMORANDUM
To: Michael C. Van Milligen
City Manager
DATE: August 14, 2007
RE: Purchase of Property from Plastic Center, Inc. at the Corner of
White Street and US Hwy. 61 for the Construction of a Sign
Leisure Services Manager Gil Spence has negotiated the purchase of 828 square feet
of property from Plastic Center, Inc. at the corner of White Street and US Hwy. 61 for
the construction of a Port of Dubuque sign.
Enclosed is the Offer to Buy Real Estate and Acceptance for the purchase of the
property.
The purchase price is $12.00 per square foot. Plastic Center, Inc. will allow access to
the property prior to closing so the City can begin constructing the sign as soon as
practicable. The City agrees to pay for the cost of abstracting, surveying and platting
the property.
I recommend that the Offer be submitted to the City Council for consideration and
approval.
Enclosure
cc: Gil Spence, Leisure Services Manager
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
OFFER TO BUY REAL ESTATE AND ACCEPTANCE
TO: Plastic Center, Inc., Seller:
SECTION 1. REAL ESTATE DESCRIPTION. The Buyer offer to buy real estate in
Dubuque County, Iowa, described as follows:
Lot 2-1 of a Part of Lot 1 of Milwaukee Industrial Tract No. 1 in the City of
Dubuque, Iowa
As shown on attached Exhibit A
with any easements and appurtenant servient estates, but subject to the following: a. any
zoning and other ordinances; b. any covenants of record; c. any easements of record for
public utilities, roads and highways
designated the Real Estate.
SECTION 2. PRICE. The purchase price shall be $9,926.00 payable in cash at
closing.
SECTION 3. REAL ESTATE TAXES. Seller shall pay any unpaid real estate taxes
payable in prior years. Buyer shall pay all subsequent real estate taxes. Any proration of
real estate taxes on the Real Estate shall be based upon such taxes for the year currently
payable unless the parties state otherwise.
SECTION 4. POSSESSION. If Buyer timely performs all obligations, possession of the
Real Estate shall be delivered to Buyer on September 1, 2007, with any adjustments of
rent, insurance, and interest to be made as of the date of transfer of possession. Seller
agrees to grant Buyer access to the Real Estate for the purpose of constructing a sign
and for surveying upon delivery to Seller of proof of insurance in a form acceptable to
Seller and an agreement to indemnity Seller for any claims for injuries or damages arising
out of Buyer's negligence while Buyer is on the Real Estate prior to the Closing.
SECTION 5. USE OF PURCHASE PRICE. At time of settlement, funds of the
purchase price may be used to pay taxes and other liens and to acquire outstanding
interests, if any, of others.
SECTION 6. ABSTRACT AND TITLE. Seller, at Buyer's expense, shall promptly
obtain an abstract of title to the Real Estate continued through the date of acceptance of
this offer, and deliver it to Buyer for examination. It shall show merchantable title in Seller
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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.
SECTION 7. DEED. Upon payment of the purchase price, Seller shall convey the Real
Estate to Buyer by Warranty Deed, free and clear of all liens, restrictions, and
encumbrances except as provided in 1 a. through 1 .d. Any general warranties of title
shall extend only to the time of acceptance of this offer, with special warranties as to acts
of Seller continuing up to time of delivery of the deed.
SECTION 8. TIME IS OF THE ESSENCE. Time is of the essence in this contract.
SECTION 9. REMEDIES OF THE PARTIES.
9.1 If Buyer fails to timely perform this contract, Seller may forfeit it as provided in the
Iowa Code, and all payments made shall be forfeited or, at Seller's option, upon thirty
days written notice of intention to accelerate the payment of the entire balance because
of such failure (during which thirty days such failure is not corrected) Seller may declare
the entire balance immediately due and payable. Thereafter this contract may be
foreclosed in equity and the Court may appoint a receiver.
9.2 If Seller fails to timely perform this contract, Buyer has the right to have all
payments made returned to them.
9.3 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 10. CONTRACT BINDING ON SUCCESSORS IN INTEREST. This contract
shall apply to and bind the successors in interest of the parties.
SECTION 11. TIME FOR ACCEPTANCE. If this offer is not accepted by Seller on or
before August 24, 2007, it shall become void and all payments shall be repaid to the
Buyer.
SECTION 12. OTHER PROVISIONS.
12.1 Seller acknowledges that Buyer intends to erect a sign on the Real Estate and
Buyer agrees that such sign shall not exceed 20 feet in height, and the deed shall provide
a covenant to that effect.
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12.2 Buyer shall at its expense survey and plat the Real Estate. Seller agrees to
consent to the plat.
Dated:
CITY OF DUBUQUE, IOWA
By:
Michael C. Van Milligen, City Manager
THIS OFFER IS ACCEPTED
Dated:
PLASTIC CENTER, INC.
By:
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