Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
McFadden Right-of-Way Acquisition
THE CTfY OF DUB E Masterpiece on the Mississippi MEMORANDUM October 29, 2007 TO: The Honorable Mayor and City Council Members FROM: Michael C. Van Milligen, City Manager SUBJECT: McFadden Right-of-Way Acquisition Economic Development Director Dave Heiar recommends City Council approval to purchase approximately 1.64 acres of land at $50,000 per acre and .5 acres of easement for $5,400 from the McFadden family for a proposed rail line that would provide future rail service to a 48.6 ace parcel of land in Dubuque Industrial Center West. He further recommends that the City Manager be authorized to finalize negotiations on a separate agreement that includes: 1. At-Grade Crossing: The existing mainline at-grade crossing will remain and an inclined drive will be extended from the existing mainline crossing to an at-grade crossing on the lead track. 2. Box Culvert Extension: The existing box culvert under the mainline track will be extended to the north to provide access under the lead track as illustrated on the attached exhibits. The new box culvert will be no smaller in dimension than the existing culvert. The south end of the existing box culvert will be modified to expand the apron for improved equipment access through the existing culvert. 3. Field Access: A 30-foot wide easement will be provided from the north end of the box culvert extension east to the McFadden property line. A 10-foot wide gravel road will be provided for equipment access. The existing 20-foot field access easement will be eliminated. 4. Cattle Crossing: A cattle crossing with a 12-foot wide side gate will be provided on the east end of the field access road. 5. Relocated power poles will be placed on City property. 6. Fencing will be installed at City expense. I concur with the recommendation and respectfully request Mayor and City Council approval. C' ,l ` ~~ ~~- Michael C. Van Milligen MCVM/jh Attachment cc: Barry Lindahl, City Attorney Cindy Steinhauser, Assistant City Manager David J. Heiar, Economic Development Director THE CTTY OF Jr,~. DUB ~~ E MEMORANDUM Masterpiece on the Mississippi October 26, 2007 TO: Michael Van Milligen, City Manager FROM: David J. Heiar, Economic Development Director SUBJECT: McFadden Right-of-Way Acquisition INTRODUCTION The intent of this memorandum is to provide for Council consideration the option to acquire ROW from the McFadden family for the purpose of constructing a lead track in the DICW. BACKGROUND Over the past two years, City staff, with the technical assistance of IIW Engineers, have been in discussions and negotiations to acquire ROW to construct a lead rail line in the DICW. The proposed rail line would provide future rail service to a 48.6 acre parcel of land in the DICW (see lot 4, 5th addition on the attached map). During these negotiations, IIW Engineers has continued to work with the CN Railroad on the final design for the lead track. Approval of final plans was received in June of this year. In an effort to minimize the actual amount of ROW as requested by the McFaddens, it was discovered that some Alliant electric lines would also need to be relocated at an estimated cost of $200,000. This relocation of the overhead power lines would also require the acquisition of land (or an easement over the land) for utility poles. The McFadden family has agreed to sell the City approximately 1.64 acres for the lead track and .5 acres as an easement (rather than acquisition). The easement area can continue to be farmed. As part of this acquisition proposal, it is necessary to make other accommodations to allow the McFadden family to continue to farm the adjoining land. In a separate agreement, the City would need to commit to the following: 1. At-Grade Crossing: The existing mainline at-grade crossing will remain and an inclined drive will be extended from the existing mainline crossing to an at-grade crossing on the lead track. 2. Box Culvert Extension: The existing box culvert under the mainline track will be extended to the north to provide access under the lead track as illustrated on the attached exhibits. The new box culvert will be no smaller in dimension than the existing culvert. The south end of the existing box culvert will be modified to expand the apron for improved equipment access through the existing culvert. 3. Field Access: A 30 foot wide easement will be provided from the north end of the box culvert extension east to the McFadden property line. A 10 foot wide gravel road will be provided for equipment access. The existing 20 foot field access easement will be eliminated. 4. Cattle Crossing: A cattle crossing with a 12 foot wide side gate will be provided on the east end of the field access road. 5. Relocated power poles will be placed on City property. 6. Fencing will be installed at City expense. The 2006 estimated construction cost of the lead track was approximately $1.6 million and did not include the $200,000 to relocate the electric utility lines. This cost estimate does, however, include the special elements that are part of the separate agreement. Actual construction of the lead track will not occur until there is a commitment from an industry that needs rail service. It is not prudent to expend $1.8 million dollars for a lead track if the industrial site is not used by an industry that requires rail service. In addition, if there is a commitment for job retention or job creation, the City is eligible to apply for financial assistance from the Iowa Department of Transportation to cover a portion of the costs associated with the lead track. This financial incentive is not available if we proceed with construction prior to getting an industry to commit to this site. If Lot 4 of the 5th addition is developed and the City does not construct a lead rail line to serve the DICW, the contract requires the City to allow the McFadden family to repurchase this right of way at the acquisition cost. RECOMMENDATION recommend that we seek City Council approval of the purchase of approximately 1.64 acres of land at $50,000 per acre and .5 acres of easement for $5,400. My recommendation includes a separate agreement to include the 4 elements of construction as previously stated when construction of the lead rail occurs. ACTION For the Council to approve the purchase of the real estate from the McFadden family at $50,000 per acre and $5,400 for an easement and to authorize the City Manager to negotiate the remaining details of the purchase, including an agreement to provide the six extra construction elements as previously committed to the McFaddens when a lead track is constructed. F:\USERS\DHeiar\Memos to MVM\Council Items\McFadden ROW Acquisition Council Memo.doc DUBUQUE INDUSTRIAL CENTER WEST ~ LOTS ^ AVAILABLE LOT ^ AVAILABLE BUILDING _ UPDATED: ^ OCCUPIED LOT WATER NORTH I 02.2007 [] PUBLIC SPACE ~ ~ RAIL -"--------- LOT 2 ~ TRI-STATE GIESE LOT 2 OF B ~~`, - THE ALLIANT ath ADDITION ~ INDUSTRIES 6d7 ADDITION ~ ~ ADAMS ENERGY 3.9 ACRES ~ DDI INC. 6.834 ACRES ~ ~ 17.9 ACRES Y o4 , ~ r AR S OMPAN T ~~ LOT 1 ' ~ dth ADDITION 2.92 ACRES 6.~ LOT 4 pP~ LOT 3 ACREB dth ADDITION ~ E ~ ~ \` `\ ALLIANT 6.48 ACRES 6.17 ACRES ~~F. ' 7th ADDITION ENERGY 1 P~ 921 ACRES 18 DUBUQUE 4.3 BUILD ABLE , C . SCREW o PRODUC KENOALL/HUNT INC. PUBLISHING p COMPANY O LOT 4 BERGFELD POND ~ 10.43 ACRES A RECREATION AREA a a MCGRAW-HILL i1./gACREB N L0T4 LOT 1 5th ADDITION 2nd ADDITION 48 6 ACRES THEISEN'S -T - 'Ii ~ '. I i LOT 2 of 2 5th ADDITION 9.047 ACRES LOT2-3 5th ADDITION 6.264 ACRES '. \ LOT1-3' '5th ADDITIOf~ SACRES ~_ 8.473 ACRES POND 12.1 ACRES 20.SACRE9 ~%~/ ~ ~ , S r_". TO HWV 20 7.7 ACRES 11.0 ACRES r 0 --r _ ~-~"~ ~ CHICAGO CENTRAL & PACIFIC RAILROAD -Z," ~' ~i1 _' 300 Main Street, Suite 120, Dubuque, Iowa 52001 ', P: 563.557.9049. F: 563.557.1059 '', E: gddc@greaterdubuque.org I B r i a n J . K a n e I F O R T H E L E G A L E F F E C T O F T H E U S E O F T H I S F O R M , C O N S U L T Y O U R L A W Y E R T H E I O W A S T A T E B A R A S S O C I A T I O N O f f i c i a l F o r m N o . 1 8 0 O F F E R T O B U Y R E A L E S T A T E A N D A C C E P T A N C E ( N O N R E S I D E N T I A L ) T O M c F a d d e n P r o p e r t i e s , L . L . P . a n d L u e l l a M c F a d d e n , a w i d o w ( S E L L E R S ) T h e u n d e r s i g n e d B U Y E R S h e r e b y o f f e r t o b u y a n d t h e u n d e r s i g n e d S E L L E R S b y t h e i r a c c e p t a n c e a g r e e t o s e l l t h e r e a l p r o p e r t y s i t u a t e d i n D u b u Q , u e , I o w a , l o c a l l y k n o w n a s _ N . u L . 1 " " A ' - - _ a n d l e g a l l y d e s c r i b e d a s : S e e a t t a c h e d E x h i b i t " A " w h i c h b y t h i s r e f e r e n c e i s m a d e a p a r t h e r e o f [ l e g a l d e s c r i p t i o n t o b e s u p p l i e d l a t e r p u r s u a n t t o s e c t i o n 8 b e l o w ] , t o g e t h e r w i t h a n y e a s e m e n t s a n d a p p u r t e n a n t s e r v i e n t e s t a t e s , b u t s u b j e c t t o a n y r e a s o n a b l e e a s e m e n t s o f r e c o r d f o r p u b l i c u t i l i t i e s o r r o a d s , a n y z o n i n g r e s t r i c t i o n s c u s t o m a r y r e s t r i c t i v e c o v e n a n t s a n d m i n e r a l r e s e r v a t i o n s o f r e c o r d , i f a n y , h e r e i n r e f e r r e d t o a s t h e " P r o p e r t y , " u p o n t h e f o l l o w i n g t e r m s a n d c o n d i t i o n s ~ K ~ ~ ~ ~ ~ l § ~ f o r _ 5 0 , 0 0 0 . 0 0 p e r a c r e ( e x p e c t e d t o b e 1 . 6 4 a c r e s , m o r e o r l e s s , p u r s u a n t t o E x h i b i t " A " ) 1 . P U R C H A S E P R I C E . T h e P u r c h a s e P r i c e s h a l l b e $ a n d t h e m e t h o d o f p a y m e n t s h a l l b e a s f o l l o w s : $ 0 . 0 0 w i t h t h i s o f f e r , t o b e d e p o s i t e d u p o n a c c e p t a n c e o f t h i s o f f e r a n d h e l d i n t r u s t b y K a n e , N o r b y & R e d d i c k , P C T r u s t A ; . ; C ' = ' c ~ o ~ u - : - : n : : - . l t : - - - - a s e a r n e s t m o n e y , t o b e d e l i v e r e d t o t h e S E L L E R S u p o n p e r f o r m a n c e o f S E L L E R S ' o b l i g a t i o n s a n d s a t i s f a c t i o n o f B U Y E R S ' c o n t i n g e n c i e s , i f a n y ; a n d t h e b a l a n c e o f t h e P u r c h a s e P r i c e , a s f o l l o w s : ( a ) T h e e n t i r e p u r c h a s e p r i c e a s d e t e r m i n e d p u r s u a n t t o t h i s a g r e e m e n t s h a l l b e p a i d i n f u l l a t t h e c l o s i n g ( d e f i n e d b e l o w ) b y c e r t i f i e d c h e c k o r o t h e r m e a n s r e a s o n a b l y a c c e p t a b l e t o S e l l e r s . ( b ) I n a d d i t i o n , B u y e r a g r e e s t o p a y t o S e l l e r s t h e a m o u n t o f $ 5 , 4 0 0 . 0 0 f o r t h e e a s e m e n t r e f l e c t e d o n E x h i b i t " A " a t t a c h e d h e r e t o . B u y e r s h a l l a c q u i r e t h e a f o r e s a i d e a s e m e n t a t t h e c l o s i n g ( d e f i n e d b e l o w ) . 2 . R E A L E S T A T E T A X E S . S e l l e r s s h a l l p a y r e a l e s t a t e t a x e s p r o r a t e d t o t h e d a t e o f p o s s e s s i o n a n d c l o s i n g ( d e f i n e d b e l o w ) a n d a n y u n p a i d r e a l e s t a t e t a x e s p a y a b l e i n p r i o r y e a r s . B U Y E R S s h a l l p a y a l l s u b s e q u e n t r e a l e s t a t e t a x e s . U n l e s s o t h e r w i s e p r o v i d e d i n t h i s A g r e e m e n t , a t c l o s i n g S E L L E R S s h a l l p a y B U Y E R S , o r B U Y E R S s h a l l b e g i v e n a c r e d i t f o r , t a x e s f r o m t h e f i r s t d a y o f J u l y p r i o r t o p o s s e s s i o n t o t h e d a t e o f p o s s e s s i o n b a s e d u p o n t h e l a s t k n o w n a c t u a l n e t r e a l e s t a t e t a x e s p a y a b l e a c c o r d i n g t o p u b l i c r e c o r d s . H o w e v e r , i f s u c h t a x e s a r e b a s e d u p o n a p a r t i a l a s s e s s m e n t o f t h e p r e s e n t p r o p e r t y i m p r o v e m e n t s o r a c h a n g e d t a x c l a s s i f i c a t i o n a s o f t h e d a t e o f p o s s e s s i o n , s u c h p r o r a t i o n s h a l l b e b a s e d o n t h e c u r r e n t l e v y r a t e , a s s e s s e d v a l u e , l e g i s l a t i v e t a x r o l l b a c k s a n d r e a l e s t a t e t a x e x e m p t i o n s t h a t w i l l a c t u a l l y b e a p p l i c a b l e a s s h o w n b y t h e a s s e s s o r ' s r e c o r d s o n t h e d a t e o f p o s s e s s i o n . 3 . S P E C I A L A S S E S S M E N T S . B . I F " A " i s s t r i c k e n , t h e n S E L L E R S s h a l l p a y a t t i m e o f c l o s i n g a l l i n s t a l l m e n t s o f s p e c i a l a s s e s s m e n t s w h i c h a r e a l i e n o n t h e P r o p e r t y a n d , i f n o t p a i d , w o u l d b e c o m e d e l i n q u e n t d u r i n g t h e c a l e n d a r y e a r t h i s o f f e r i s a c c e p t e d , a n d a l l p r i o r i n s t a l l m e n t s t h e r e o f . C . A l l c h a r g e s f o r s o l i d w a s t e r e m o v a l , s e w a g e a n d m a i n t e n a n c e t h a t a r e a t t r i b u t a b l e t o S E L L E R S ' p o s s e s s i o n , i n c l u d i n g t h o s e f o r w h i c h a s s e s s m e n t s a r i s e a f t e r c l o s i n g , s h a l l b e p a i d b y S E L L E R S . D . A n y p r e l i m i n a r y o r d e f i c i e n c y a s s e s s m e n t w h i c h c a n n o t b e d i s c h a r g e d b y p a y m e n t s h a l l b e p a i d b y S E L L E R S t h r o u g h a n e s c r o w a c c o u n t w i t h s u f f i c i e n t f u n d s t o p a y s u c h l i e n s w h e n p a y a b l e , w i t h a n y u n u s e d f u n d s r e t u r n e d t o S E L L E R S . E . B U Y E R S s h a l l p a y a l l o t h e r s p e c i a l a s s e s s m e n t s o r i n s t a l l m e n t s n o t p a y a b l e b y S E L L E R S . © T h e I o w a S t a t e B a r A s s o c i a t i o n 2 0 0 5 1 0 W A D O C S ® 1 8 0 O F F E R T O B U Y R E A L E S T A T E A N D A C C E P T A N C E R e v i s e d J u n e 2 0 0 5 4 . R I S K O F L O S S A N D I N S U R A N C E . S E L L E R S s h a l l b e a r t h e r i s k o f l o s s o r d a m a g e t o t h e P r o p e r t y p r i o r t o c l o s i n g o r p o s s e s s i o n , w h i c h e v e r f i r s t o c c u r s . S E L L E R S a g r e e t o m a i n t a i n e x i s t i n g i n s u r a n c e a n d B U Y E R S m a y p u r c h a s e a d d i t i o n a l i n s u r a n c e . I n t h e e v e n t o f s u b s t a n t i a l d a m a g e o r d e s t r u c t i o n p r i o r t o c l o s i n g , t h i s A g r e e m e n t s h a l l b e n u l l a n d v o i d ; p r o v i d e d , h o w e v e r , B U Y E R S s h a l l h a v e t h e o p t i o n t o c o m p l e t e t h e c l o s i n g a n d r e c e i v e i n s u r a n c e p r o c e e d s r e g a r d l e s s o f t h e e x t e n t o f d a m a g e s . T h e p r o p e r t y s h a l l b e d e e m e d s u b s t a n t i a l l y d a m a g e d o r d e s t r o y e d i f i t c a n n o t b e r e s t o r e d t o i t s p r e s e n t c o n d i t i o n o n o r b e f o r e t h e c l o s i n g d a t e . 5 . P O S S E S S I O N A N D C L O S I N G . I f B U Y E R S t i m e l y p e r f o r m a l l o b l i g a t i o n s , p o s s e s s i o n o f t h e P r o p e r t y s h a l l b e d e l i v e r e d t o B u y e r s o n o r b e f o r e D e c e m b e r 1 . 2 0 0 7 , a n d a n y a d j u s t m e n t s o f r e n t , i n s u r a n c e , i n t e r e s t a n d a l l c h a r g e s a t t r i b u t a b l e t o t h e S E L L E R S ' p o s s e s s i o n s h a l l b e m a d e a s o f t h e d a t e o f p o s s e s s i o n . C l o s i n g s h a l l o c c u r a f t e r t h e a p p r o v a l o f t i t l e b y B U Y E R S a n d v a c a t i o n o f t h e P r o p e r t y b y S E L L E R S , b u t p r i o r t o p o s s e s s i o n b y B U Y E R S . S E L L E R S a g r e e t o p e r m i t B U Y E R S t o i n s p e c t t h e P r o p e r t y w i t h i n ~ h o u r s p r i o r t o c l o s i n g t o a s s u r e t h a t t h e p r e m i s e s a r e i n t h e c o n d i t i o n r e q u i r e d b y t h i s A g r e e m e n t . I f p o s s e s s i o n i s g i v e n o n a d a y o t h e r t h a n c l o s i n g , t h e p a r t i e s s h a l l m a k e a s e p a r a t e a g r e e m e n t w i t h a d j u s t m e n t s a s o f t h e d a t e o f p o s s e s s i o n . T h i s t r a n s a c t i o n s h a l l b e c o n s i d e r e d c l o s e d : A . U p o n t h e d e l i v e r y o f t h e t i t l e t r a n s f e r d o c u m e n t s t o B U Y E R S a n d r e c e i p t o f a l l f u n d s t h e n d u e a t c l o s i n g f r o m B U Y E R S u n d e r t h e A g r e e m e n t . ~ ~ J i l ) g a l f C i b e < ~ O ( O O ) I l ~ o o e i I > t X o d ' X 3 1 1 ~ k X l O ) l ~ ( ) 3 ) Q ~ t h e ~ 6 . F I X T U R E S . I n c l u d e d w i t h t h e P r o p e r t y s h a l l b e a l l f i x t u r e s t h a t i n t e g r a l l y b e l o n g t o , a r e s p e c i f i c a l l y a d a p t e d t o o r a r e a p a r t o f t h e r e a l e s t a t e , w h e t h e r a t t a c h e d o r d e t a c h e d . A l s o i n c l u d e d s h a l l b e t h e f o l l o w i n g : " ' N . ! ! / : , . A : ! . - _ T h e f o l l o w i n g i t e m s s h a l l n o t b e i n c l u d e d : , ! N . : ! J / ' J : . A : ! - _ 7 . C O N D I T I O N O F P R O P E R T Y . T h e p r o p e r t y a s o f t h e d a t e o f t h i s A g r e e m e n t , i n c l u d i n g b u i l d i n g s , g r o u n d s , a n d a l l i m p r o v e m e n t s , w i l l b e p r e s e r v e d b y t h e S E L L E R S i n i t s p r e s e n t c o n d i t i o n u n t i l p o s s e s s i o n , o r d i n a r y w e a r a n d t e a r e x c e p t e d . S E L L E R S m a k e n o w a r r a n t i e s , e x p r e s s e d o r i m p l i e d , a s t o t h e c o n d i t i o n o f t h e p r o p e r t y . A . B U Y E R S a c k n o w l e d g e t h a t t h e y h a v e m a d e a s a t i s f a c t o r y i n s p e c t i o n o f t h e P r o p e r t y a n d a r e p u r c h a s i n g t h e P r o p e r t y i n i t s e x i s t i n g c o n d i t i o n . * ~ . ~ ~ ~ ~ ~ ~ ~ ~ f ( ~ ~ ~ X ~ ( S ~ ~ ~ ~ y ~ ~ ~ ~ ( S ~ ~ ) { ( S ~ ~ P f m ~ ~ ~ ~ t f f I I ~ ~ ~ ~ ~ r ~ ~ ~ ~ O O O ~ ~ ~ ~ ~ ~ ~ ~ ( S ~ ~ ~ ~ t l ' ! ~ ~ ¥ ~ ~ ( S ~ ~ P f a I I l m ~ e ~ p p o < ) Q I O O O O ( ~ ~ K ~ S ~ ~ ~ ~ ~ l ( ! } J I ) l : ~ ~ X l X t e ~ ~ ~ ~ ~ ) ( ~ ) ( ~ X . ~ ~ ~ ~ ~ ~ ~ ~ ~ x ~ ~ t S ~ ~ ~ ~ ~ ~ t S ~ f f r W ~ t P ~ ) ~ ~ ~ ~ ~ l S ~ P R Q P B " W V 6 1 @ % " d ~ ~ ~ ~ x x x x l a n d s o f o t h e r s , t h e 1 0 . E N V I R O N M E N T A L M A T T E R S . A . S E L L E R S w a r r a n t t o t h e b e s t o f t h e i r k n o w l e d g e a n d b e l i e f t h a t t h e r e a r e n o a b a n d o n e d w e l l s , s o l i d w a s t e d i s p o s a l s i t e s , h a z a r d o u s w a s t e s o r s u b s t a n c e s , o r u n d e r g r o u n d s t o r a g e t a n k s l o c a t e d o n t h e P r o p e r t y , t h e P r o p e r t y d o e s n o t c o n t a i n l e v e l s o f r a d o n g a s , a s b e s t o s , o r u r e a - f o r m a l d e h y d e f o a m i n s u l a t i o n w h i c h r e q u i r e r e m e d i a t i o n u n d e r c u r r e n t g o v e r n m e n t a l s t a n d a r d s , a n d S E L L E R S h a v e d o n e n o t h i n g t o c o n t a m i n a t e t h e P r o p e r t y w i t h h a z a r d o u s w a s t e s o r s u b s t a n c e s . S E L L E R S w a r r a n t t h a t t h e p r o p e r t y i s n o t s u b j e c t t o a n y l o c a l , s t a t e , o r f e d e r a l j u d i c i a l o r a d m i n i s t r a t i v e a c t i o n , i n v e s t i g a t i o n o r o r d e r , a s t h e c a s e m a y b e , r e g a r d i n g w e l l s , s o l i d w a s t e d i s p o s a l s i t e s , h a z a r d o u s w a s t e s o r s u b s t a n c e s , o r u n d e r g r o u n d s t o r a g e t a n k s . S E L L E R S s h a l l a l s o p r o v i d e B U Y E R S w i t h a p r o p e r l y e x e c u t e d G R O U N D W A T E R H A Z A R D S T A T E M E N T s h o w i n g n o w e l l s , s o l i d w a s t e d i s p o s a l s i t e s , h a z a r d o u s w a s t e s a n d u n d e r g r o u n d s t o r a g e t a n k s o n t h e P r o p e r t y u n l e s s d i s c l o s e d h e r e : ~ N ~ o ~ n ~ e , , - . _ ~ ~ M : ~ ) 0 l ~ l ! { ~ l i m 0 < ~ ~ ~ K X K ~ ~ r o t h e r ~ ~ ~ ( S ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ K ~ ~ ~ ~ ~ M ~ s % l § l i ~ ~ K S Q S ~ ~ ~ ~ r t y . I n ~ ~ ~ X ~ ~ ~ a r g p ~ l % ~ ~ ~ ~ ~ ~ ~ P a ¥ ¥ ~ ~ ~ ~ ~ , ~ ~ h a l l b e ~ ~ ~ ~ ~ ~ l m § ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ t o o { 0 t o r y t o ~ ~ I U U S X a t ~ ~ ) { ; ' ( O O ( ~ J ( $ : x x x r d o u s ~ ~ ~ l ( ~ l ! l I O r O O Q ( ) Q ( ~ ~ x ~ a r n e s l ~ ¥ ~ ~ X ~ ~ X ~ ~ ~ P ( ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ a c t i o n ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ j e c l l o * B u y e r a c c e p t s t h e p r o p e r t y i n " a s i s " c o n d i t i o n . B u y e r i s n o t r e l y i n g u p o n a n y r e p r e s e n t a t i o n s o r w a r r a n t i e s o f S e l l e r s n o t s e t o u t i n f u l l a n d w r i t i n g h e r e i n . 1 1 . D E E D . U p o n p a y m e n t o f t h e P u r c h a s e P r i c e , S E L L E R S s h a l l c o n v e y t h e P r o p e r t y t o B U Y E R S b y w a r r a n t y d e e d , f r e e a n d c l e a r o f a l l l i e n s , r e s t r i c t i o n s , a n d e n c u m b r a n c e s e x c e p t a s p r o v i d e d i n t h i s A g r e e m e n t . G e n e r a l w a r r a n t i e s o f t h e t i t l e s h a l l e x t e n d t o t h e t i m e o f d e l i v e r y o f t h e d e e d e x c e p t i n g l i e n s a n d e n c u m b r a n c e s s u f f e r e d o r p e r m i t t e d b y B U Y E R S . 1 2 . J O I N T T E N A N C Y I N P R O C E E D S A N D I N R E A L E S T A T E . I f S E L L E R S , i m m e d i a t e l y p r e c e d i n g a c c e p t a n c e o f t h e o f f e r , h o l d t i t l e t o t h e P r o p e r t y - i n j o i n t t e n a n c y w i t h f u l l r i g h t s o f s u r v i v o r s h i p , a n d t h e j o i n t t e n a n c y i s n o t l a t e r d e s t r o y e d b y o p e r a t i o n o f l a w o r b y a c t s o f t h e S E L L E R S , t h e n t h e p r o c e e d s o f t h i s s a l e , a n d a n y c o n t i n u i n g o r r e c a p t u r e d r i g h t s o f S E L L E R S i n t h e P r o p e r t y , s h a l l b e l o n g t o S E L L E R S a s j o i n t t e n a n t s w i t h f u l l r i g h t s o f s u r v i v o r s h i p a n d n o t a s t e n a n t s i n c o m m o n ; a n d B U Y E R S i n t h e e v e n t o f d e a t h o f a n y S E L L E R , a g r e e t o p a y a n y b a l a n c e o f t h e p r i c e d u e S E L L E R S u n d e r t h i s c o n t r a c t t o t h e s u r v i v i n g S E L L E R S a n d t o a c c e p t a d e e d f r o m t h e s u r v i v i n g S E L L E R S c o n s i s t e n t w i t h P a r a g r a p h 1 5 . 1 3 . J O I N D E R B Y S E L L E R ' S S P O U S E . S E L L E R ' S s p o u s e , i f n o t a t i t l e h o l d e r i m m e d i a t e l y p r e c e d i n g a c c e p t a n c e , e x e c u t e s t h i s A g r e e m e n t o n l y f o r t h e p u r p o s e o f r e l i n q u i s h i n g a l l r i g h t s o f d o w e r , h o m e s t e a d a n d d i s t r i b u t i v e s h a r e o r i n c o m p l i a n c e w i t h S e c t i o n 5 6 1 . 1 3 o f t h e C o d e o f I o w a a n d a g r e e s t o e x e c u t e t h e d e e d o r r e a l e s t a t e c o n t r a c t f o r t h i s p u r p o s e . X ~ S X l 5 O : D l l n l l S X ~ ! J : } t } ( < < M < K l < ~ l > i D ( ~ ~ ~ I < ~ H 0 ' J X l I \ K ) [ J ) ( 8 ( ~ : l < ~ l O O { ~ X ~ ~ ~ w i t h X R > m I t O O ) l l ~ l ' O O ) l l ) ( ~ ) C ~ ) t I X a ( ) ( o m l l l ! ~ t ! ( W O d : l ) { r e ) l l x ~ ~ : t i > a < O I O O e C t i l x l e l \ l K O ! ( x t l ! l I ( X X X X 1 5 . U S E O F P U R C H A S E P R I C E . A t t i m e o f s e l l l e m e n t , f u n d s o f t h e P u r c h a s e P r i c e m a y b e u s e d t o p a y t a x e s a n d o t h e r l i e n s a n d t o a c q u i r e o u t s t a n d i n g i n t e r e s t s , i f a n y , o f o t h e r s . X 1 e ( ~ ~ D f X E ~ X i I < ~ ~ l § ~ ~ > l S < i » l ~ K M f Q j ~ ~ ~ l ( ! l ! M ) 0 t X t . l O O S l § ~ M t o l i j § X m r s < ~ M X : X l ~ H l l @ O O { ~ ~ l < c r o u r t x a w t ~ v m ~ Q t ~ ~ ~ ; j @ ( K ~ ~ ~ M ~ ~ l < ~ ~ ~ ~ l @ K ~ ~ l ! ( ~ l S * M ~ ~ m l l < ~ ~ ~ X I D < l l & l § ~ X l l l l h e X ~ ~ ~ ~ ~ J O O O l ( p ( ~ l § ~ X : t O O < H ~ x s m l l l x p r l § l f i ' P l l ~ ~ f f i l @ < ~ ~ l f l S ~ M ~ ~ j § ~ M ~ X ~ l S X J ( ~ > l S < ¥ I l § t s o X l ! ( ~ ¥ 0 ' t K l I l ~ X X X X x x x x x x x x x x X X x a < l l O O l ( ~ ~ X K ~ m @ f M l ! ( M l ! ! K ~ ~ I £ Q J l M X ~ l ! ( ~ j § l ! ( ~ M ~ ~ M M ! X O O M M ~ a d e > t l S ~ X X 1 7 . R E M E D I E S O F T H E P A R T I E S . A . I f B U Y E R S f a i l t o t i m e l y p e r f o r m t h i s A g r e e m e n t , S E L L E R S m a y f o r f e i t i t a s p r o v i d e d i n t h e I o w a C o d e ( C h a p t e r 6 5 6 ) , a n d a l l p a y m e n t s m a d e s h a l l b e f o r f e i t e d ; o r , a t S E L L E R S ' o p t i o n , u p o n t h i r t y d a y s w r i t t e n n o t i c e o f i n t e n t i o n t o a c c e l e r a t e t h e p a y m e n t o f t h e e n t i r e b a l a n c e b e c a u s e o f B U Y E R S ' d e f a u l t ( d u r i n g w h i c h t h i r t y d a y s t h e d e f a u l t i s n o t c o r r e c t e d ) , S E L L E R S m a y d e c l a r e t h e e n t i r e b a l a n c e i m m e d i a t e l y d u e a n d p a y a b l e . T h e r e a f t e r t h i s A g r e e m e n t m a y b e f o r e c l o s e d i n e q u i t y a n d t h e C o u r t m a y a p p o i n t a r e c e i v e r . B . I f S E L L E R S f a i l t o t i m e l y p e r f o r m t h i s A g r e e m e n t , B U Y E R S h a v e t h e r i g h t t o h a v e a l l p a y m e n t s m a d e r e t u r n e d t o t h e m . C . B U Y E R S a n d S E L L E R S a r e a l s o e n t i t l e d t o u t i l i z e a n y a n d a l l o t h e r r e m e d i e s o r a c t i o n s a t l a w o r i n e q u i t y a v a i l a b l e t o t h e m , a n d t h e p r e v a i l i n g p a r t i e s s h a l l b e e n t i t l e d t o o b t a i n j u d g m e n t f o r c o s t s a n d a t t o r n e y f e e s . 1 8 . N O T I C E . A n y n o t i c e u n d e r t h i s A g r e e m e n t s h a l l b e i n w r i t i n g a n d b e d e e m e d s e r v e d w h e n i t i s d e l i v e r e d b y p e r s o n a l d e l i v e r y o r m a i l e d b y c e r t i f i e d m a i l , a d d r e s s e d t o t h e p a r t i e s a t t h e a d d r e s s e s g i v e n b e l o w . 1 9 . G E N E R A L P R O V I S I O N S . I n t h e p e r f o r m a n c e o f e a c h p a r t o f t h i s A g r e e m e n t , t i m e s h a l l b e o f t h e e s s e n c e . F a i l u r e t o p r o m p t l y a s s e r t r i g h t s h e r e i n s h a l l n o t , h o w e v e r , b e a w a i v e r o f s u c h r i g h t s o r a w a i v e r o f a n y e x i s t i n g o r s u b s e q u e n t d e f a u l t . T h i s A g r e e m e n t s h a l l a p p l y t o a n d b i n d t h e s u c c e s s o r s i n i n t e r e s t o f t h e p a r t i e s . T h i s A g r e e m e n t s h a l l s u r v i v e t h e c l o s i n g . T h i s A g r e e m e n t c o n t a i n s t h e e n t i r e a g r e e m e n t o f t h e p a r t i e s a n d s h a l l n o t b e a m e n d e d e x c e p t b y a w r i t t e n i n s t r u m e n t d u l y s i g n e d b y S E L L E R S a n d B U Y E R S . P a r a g r a p h h e a d i n g s a r e f o r c o n v e n i e n c e o f r e f e r e n c e a n d s h a l l n o t l i m i t o r a f f e c t t h e m e a n i n g o f t h i s A g r e e m e n t . W o r d s a n d p h r a s e s h e r e i n s h a l l b e c o n s t r u e d a s i n t h e s i n g u l a r o r p l u r a l n u m b e r , a n d a s m a s c u l i n e , f e m i n i n e o r n e u t e r g e n d e r a c c o r d i n g t o t h e c o n t e x t . 2 0 . N O R E A L E S T A T E A G E N T O R B R O K E R . N e i t h e r p a r t y h a s u s e d t h e s e r v i c e o f a r e a l e s t a t e a g e n t o r b r o k e r i n c o n n e c t i o n w i t h t h i s t r a n s a c t i o n . 2 1 . A D D I T I O N A L P R O V I S I O N S . ? O O I l M ~ R ~ " ( a ) T h i s a g r e e m e n t i s s u b j e c t t o f i n a l a p p r o v a l b y t h e C i t y C o u n c i l o f t h e C i t y o f D u b u q u e , I o w a o n b e h a l f o f B u y e r . ( b ) B u y e r a g r e e s t h a t t h e r e a l e s t a t e s h a l l o n l y b e u s e d f o r a l e a d t r a c k a s c o n t e m p l a t e d h e r e i n ( a n d i s s h o w n o n E x h i b i t " A " ) a n d f o r n o o t h e r p u r p o s e . I f B u y e r d o e s n o t s o c o n t r u c t t h e l e a d t r a c k r e f e r r e d t o o n E x h i b i t " A " , o r i f B u y e r a t t e m p t s t o s e l l o r o t h e r w i s e d i s p o s e o f t h e r e a l e s t a t e , B u y e r s h a l l f i r s t , o r i f B u y e r c h o o s e s n o t t o c o n s t r u c t t h e a f o r e s a i d l e a d t r a c k , t h e n B u y e r s h a l l p r o v i d e w r i t t e n n o t i c e t o S e l l e r s ( o r t h e i r s u c c e s s o r s i n i n t e r e s t ) a n d S e l l e r s s h a l l h a v e t h i r t y ( 3 0 ) d a y s t o r e s c i n d o r u n w i n d t h i s t r a n s a c t i o n b y r e t u r n i n g t o B u y e r t h e p u r c h a s e p r i c e , b y B u y e r p a y i n g p r o r a t e d r e a l e s t a t e t a x e s t o t h e d a t e o f s u c h c l o s i n g a n d b y B u y e r d e e d i n g t h e r e a l e s t a t e b a c k t o S e l l e r s ( o r t h e i r s u c c e s s o r s i n i n t e r e s t o r t h e i r w r i t t e n d e s i g n e e s ) . 2 2 . A C C E P T A N C E . W h e n a c c e p t e d , t h i s A g r e e m e n t s h a l l b e c o m e a b i n d i n g c o n t r a c t . I f n o t a c c e p t e d a n d d e l i v e r e d t o B U Y E R S o n o r b e f o r e t h e d a y o f J u l y , 2 0 0 7 , t h i s A g r e e m e n t s h a l l b e n u l l a n d v o i d a n d a l l p a y m e n t s m a d e s h a l l b e r e t u r n e d i m m e d i a t e l y t o B U Y E R S . I f a c c e p t e d b y S E L L E R S a t a l a t e r d a t e a n d a c c e p t a n c e i s s a t i s f i e d i n w r i t i n g , t h e n t h i s c o n t r a c t s h a l l b e v a l i d a n d b i n d i n g . A c c e p t e d . . . . ! 2 = - . : o ~ O ~ 7 ~ _ P r i n t e J o a n G r o s s , P a r t n e r B y ~ ; , . p ( J ~ o Z i k . ( / 2 e f : J a n i c J ' o o u g h e r t y , P a r t n e r 8 8 # , _ D a t e d - - - = - 2 ~ O O ~ 7 ! . . _ _ 8 8 # , _ { J f t l e ~ l ! J , r f d : & , { 1 i a ; f " ' 1 1 / 1 ~ ( t ; I t A _ J ' b - C 7 j " 1 r 1 ' P r i n t N a m e L u e l l a M c F a d d e n , a w i d o w • I , ~ A . P r i n t N a m e _ 8 8 # _ A d d r e s s : _ T e l e p h o n e : _ 8 8 # _ A d d r e s s : _ T e l e p h o n e : _ E X H I B I T " A " S e e a t t a c h e d d r a w i n g . . r t J l n U T I l l i l l l t l l l " N O I ' l T H G R A P H I C S C A L E 6 0 o I - - - 1 2 0 ( ! N F E E T ) D R A W I N G M A Y H A V E B E E t ' - i R E D U C E D I , , I I I I b 5 1 I " ' I " ' I I 0 1 ° 1 I • . . • • . . • I ~ j c ; ~ i ~ W I W I ~ I ~ . , . " . - - - 4 . \ . : . . . , ~ " - 0 : 0 c ; - o 1 ' : ! 1 : f : 0 ~ u ! 0 1 u l : . : 1 < 9 1 < . E l l ' " z 0 t : i r . : J c r ' - ' < 0 z ~ z ~ N O R D S T R O M P R O P E R T Y / ' / ' r ~ L ~ L J P r o j e c t M g T : M A J P r o j e c t N u m b e r : 0 4 1 H l - 1 2 f I . C C E S S - - - - - - - - - - 1 . _ © E X H _ __MCFQ,DDEf~! ~Q,ND A,C~U S T ON ExN B T _ _ o ~' ~~ ~ ` D N U ___ ------- P _- ---------- ,, II ,,,, t `---------------- BALANCE OF LOT 1-1 OF THE SW1/4 SW1/4 SEC. 29, T89N, R2E NORTH OF THE RAILROAD COURT OFFICER DEED Plo. 2007-0818 PARCEL No. 1029300015 AREA LOT 1-1 = 22.46 ACRES +/- PROPOSED ACQUISITION 1.64 ACRES +/- -~ PROPOSED EASEMENT 0.50 ACRES +/- NORTH _ _ _ GRAPHIC SCALE C~~~60-~~12C ~ 1~-, (Ih' FEETI DRAIMNG AiaY nAA'C 6ECN RED~ICEP ~ Isla ~I 'wlw MCFADDEN PROPERTY LOT 1-3 I CITY ~ ~`, PROPERTY . . .~ ~, `~ \~ ~~ ~ s ~~ ~ \ \ ` N ` 11 ~~ ,, S ` \ II \ \ I' `~ ri \ s ~ . ~\~ ~ s~ ~ PROPOSED WIRE ~\~ ~, FENCE ~" ~~ j CITY PROPERTY PROPOSED ~~ __ ~~, EA,SEMENT FGR~ ' -- __ _. ~~~~ MCFADDENS ~ ~ ~ '~ ~~ ~ oaacR h eor ~~ s ~ CULVER EXTENSION J _e2- ' i ~~ ~ ~i~' `\\ ~~~/~ I~ g1 P Bt/0' r. /~-r '. I~ - % -' B~ ~~ 815 y /~~ y ~ / eo A, / -' I ~ ~~ ~~ a+ 1. ~,~ , i~~~o'-~~ ~~ - / E~ i5 i.n ~ _ ~ ~C~~ 1 c Li' wl 4 ~I In ~ y I O p ~\ ~ ~~_I'i o~ ~ Ii I iii ~~ ~~ °~I i~ a - I} } w ~~M I~l s 0 wl wl 4 " I+. 6 ~ ~ U U I~ tai •~ C NORDSTROM ~ PROPERTY ~ ~ J J _~s~ ~ ~e~ ~a[ Z ~,~ ,~• ~~ i 1"" Hn i / ~ ~~ /,~jj9~ JQM~ C ~ ~//' Y ~~ 1 / /~ b / ~ ~ / R / i ~ /. PERMANENT ~~~ACCESS `~ ~ ~ ~'~~ ~~ ~ ~~' ~,'~, ~ - ~ ~~ ~~~ & MAINTENAiNCE ~ ~y,~ /~ $~' ;~ .BASEMENT ~ ~ ' ' -_ ~ ~-~ ''j o r -- ~ i ~ ~-~~ N ' ,e'° -' /pM13~ ///~/ / ~ j i / / ~ / /' ~ ~" .%~ 5 /; a ~R,p~ ~ / , /' i a ~ ~, / / ~ ~ - ~~ ~ ~~-~ /-' PROPOSED ALIGNMENT FOR ; S -- ~~'~ ~° ~ ~ ~ INDUSTRIAL LEAD TRACK ; ~/' ~% j " /' ~ / PROPOSED WIRE FENCE ~~ t ~~ ~ ~ % .~~.~P~ a°°~N PROPOSED AT GRADE /~ ~`' ~ CROSSING AND INCLINED ;a °'~°°'~` DRIVE . ~~~o° ' ~"ea'°"e9~~~ ~EXISTNG ?0' ACCESS EPSEMENT TO BE ELIMINtiTED ~ «~~- i' =~~,-- ~~ ~, . ~~/~ j ; /~j - / / ~ /~ Z L C ~ N ~zF z~~~ o~<,°_ m ~' ~~ c, ~ / Vi ~ .M~~a v~~~~ ~ar7a ~d7 N - _ y zoo - ~> < ~- 3~,r ~N ~z~ ti ~ w s ~ C L - Project Mer MAd Pro~ecl Yumtec 04119-12 E~H f " C/' AGREEMENT BETWEEN THE CITY OF DUBUQUE, IOWA AND MCFADDEN PROPERTIES, L.L.P. AND LUELLA MCFADDEN This Agreement is made and entered into this day of , 2007, by and between the City of Dubuque, Iowa, an Iowa municipal corporation ("City") and McFadden Properties, L.L.P., an Iowa limited liability partnership, and Luella McFadden (together as "McFaddens"). RECITALS WHEREAS, City is the owner of the real estate shown on Exhibit A (the City Property); and WHEREAS, McFaddens are the owners of real estate adjacent to the City Property (the McFadden Property) which is used as agricultural property; and WHEREAS, City intends to construct a lead track on the City Property; and WHEREAS, to facilitate the continued agricultural use of the McFadden Property, City and McFaddens have agreed as follows: McFaddens consent to the construction of the lead track on the City Property. 2. At such time as and only if City constructs the lead track, City agrees, at its expense, to: (a) Allow the existing mainline at grade crossing to remain and to extend an inclined drive from the existing mainline crossing to an at grade crossing on the lead track, provided McFaddens are using the adjoining property owned by McFaddens for farming or agricultural purposes; (b) Extend the existing box culvert under the mainline track to the north to provide access under the lead track as illustrated on the attached Exhibit A which by this reference is made a part hereof, provided McFaddens are using the adjoining property owned by McFaddens for farming or agricultural purposes. Such new box culvert will be no smaller in dimension than the existing culvert. The south end of the existing box culvert will be modified to expand the apron for improved equipment access for the existing culvert (and will be at least 30 feet wide}; (c) Provide a 30-foot wide easement on the north end of the box culvert extension east to the McFadden Property line. Provide a 10-foot wide gravel road for equipment access, provided McFaddens are using the adjoining property owned by McFaddens for farming or agricultural purposes. The existing 20-foot field access easement will be eliminated; (d) Provide a cattle crossing with a 12-foot wide side gate on the east end of the field access road; (e) The power poles for Alliant shall be on the City Property; and, (f) Provide fencing, at City expense, between the City Property and the McFadden Property. 3. Miscellaneous. This Agreement shall be governed by and construed in accordance with the laws of the State of Iowa, and shall be binding upon the parties hereto and their respective successors in interest and permitted assigns. MCFADDEN PROPERTIES, L.L.P., Seller By`' ~ ~~~~ G McFadden, Partner CITY OF DUBUQUE, IOWA, Buyer By Its authorized representative By oan Gross, Partner By Janice Doughe y, Pa er Luella McFadden, Seller G ~WPDOCS\Angie\DOCS\McFadden Vince Es[ Agreement to Additional Conditions to Offer witU City.wpd EXHIBIT "A" See attached drawing. T r LOT 1-3 _ MCFADDEN ~,QND Q,CnU S i ON EXH B T I __----'----~ ' j ~ _ __ __---- } MCFADDEN PROPERTY i BALANCE OF LOT 1-1 OF THE SW1/4 SW1/4 ` SEC. 29, T89N, R2E NURTH OF THE RAILROAD COURT OFFICER DEED Plo. 2007-0818 PARCEL No. 1029300015 AREA LOT 1-1 = 22.46 ACRES +/- ~ PROPOSED ACQUISITION 1.64 ACRES +/- -\ PROPOSED EASEMENT 0.50 ACRES +/- ~ / I .\ CITY `~ PROPERTY ~\ ~ \ \~ \\\ ~ s ~ ~ . \ '~. .~ s~ N ~. \ ;! S ~~ ~ ~ `` \ \\\ 1 ~ \~~ ~ s . PROPOSED WIRE ~ ~~~, FENCE ~ ~~" ~~ ~~~ ~1 CITY PROPERTY~~ PROPOSED ~, ' ~ __ _ ~~. EASEMENT FOR ~ ~ ~ ._ _. _ _ \~ ~ MCFADDENS ~ \ -.I .. ` ,, ~ ~;~ ~ ~ ~ ;~_ ~ ~~ coNCR F aoz ~ `- ~q s / - - ~ ~ ~ i~ / _e2--' ,~ G h / - / ~ b ~/ ~t PERMANENT ~~ACCESS '~ ~ ~ =' ~~ ~ ~ ~ ~ ~ & MAINTENAiNCE ~ ~y,~ /~5 ~°~ ~~~ ~ ~~ _~ASEMENT ,~- ;- .-~ ~~ I / ~ A' / /, - W /'-~ x /~' i ~° / s ~.;; .-- ~~.% /-' PROPOSED ALIGNMENT FOR /S~ ° "~ ~ % INDUSTRIAL LEAD TRACK / e~' ~' P1£ ~ ~.G / ~ ~~ ~ , \// x .~~/Y a iN :. ~ ~~ 9~5x ~~, 6. "/ ~i J < \ j 1 y ~ ~ E r ~'~ B~ ~~~ ~ /"~ ~ ~ ~~, .,~ . ~ - ~E'dC ~- WiOt, F/~ W,~. ~ GY T '/%% ' /' ~ PROPOSED WIRE FENCE /~ ~/ m i ~ / '~ i i N~ a~`~°~~ PROPOSED AT GRAQE % ~~~' °~ ~ CROSSING AND INCLINED °" p"`- DRIVE _t°,~Et° ~~ ~ ~~~°;H~ e`~~ EXISTING 20' ACCESS EPSEMENT TO BE ELIMINE.TED Cif _~_L, ~ ~' NORTH ceaawc sGa~E C~~60 1~C ~~~ (IN FEETI DRAWING Mnv HAVC BEEN RcDUCED u 4' ' I `I ~ < G < C O r0 1~~ r ~ O "I ~ °I ~'I rl r o 0 ~°oal ', i h H it Sul ~ w m ~ 4 k 4. ~" C O O C ~ }} r ~, ~° °~I ~~ ~ C ~I~~I~ NORDSTROM PROPERTY . ~a_GY ~ I~ ~ ~-ec~c'p, ,~;. ,~. ~~ ,,~ - -- ~~ - - ~,. -'' / ,~~ s ~ ~ 9 ~// ~ ~ 5 ~ N~/. s ^/_ o-''°- r ~ . 1j9/'~ /' / i z U :J z z ~^ ° ~ X N L ~:-i z ~i ~ v N ~z¢C ZOi-rc r~ < ' , C .~ ~~~~~ ~_,_~~ "" Ui ~ ~ ..~za ~~J ~~ 6: ~ yy~g ~=i ~l '~+~' S G K zoW _~ ~~ =~- ~l(jZ s ~ C Project Mgr hIAJ Proleut 6~umher: 04L19-I: ~XH