HomeMy WebLinkAbout10-137Resolution No. 10 -137
RESOLUTION
AUTHORIZING EXECUTION OF A NEIGHBORHOOD STABILIZATION
PROGRAM (NSP) AGREEMENT WITH
HABITAT FOR HUMANITY OF NORTHERN FOX VALLEY
(108 -110 South Charming Street)
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS,
that Ed Schock, Mayor, and Diane Robertson, City Clerk, be and are hereby authorized and
directed to execute a Neighborhood Stabilization Program (NSP) Agreement on behalf of the
City of Elgin with Habitat For Humanity of Northern Fox Valley for the rehabilitation and sale
of the property commonly known as 108 -110 South Charming Street, a copy of which is attached
hereto and made a part hereof by reference.
sl Ed Schock
Ed Schock, Mayor
Presented: July 14, 2010
Adopted: July 14, 2010
Omnibus Vote: Yeas: 7 Nays: 0
Attest:
sl Diane Robertson
Diane Robertson, City Clerk
ce
NEIGHBORHOOD STABILIZATION PROGRAM (NSP) AGREEMENT
BETWEEN THE CITY OF ELGIN AND HABITAT FOR HUMANITY
OF NORTHERN FOX VALLEY TO REHABILITATE AND SELL
108 -110 SOUTH CHANNING STREET, ELGIN, ILLINOIS 60120
This AGREEMENT is entered into as of the O / �� day of
.� 1.A-��1 , 2010, by and between the CITY OF ELGIN, Illinois, (a body corporate and
politic of the State of Illinois with offices at 150 Dexter Court, Elgin, Illinois ( "CITY ") and
HABITAT FOR HUMANITY OF NORTHERN FOX VALLEY, an Illinois not - for - profit
corporation having a principal place of business at 20 S. Grove, Suite 201, Carpentersville,
Illinois, 60110 ( "DEVELOPER ").
RECITALS
WHEREAS, the Illinois General Assembly has granted the CITY authority to
enter into agreements for the purposes of receiving funds from the United States government
under the "Housing and Community Development Act of 1974," and other subsequent housing
acts, and may disburse those funds and other CITY funds for community development and other
housing program activities (Illinois Complied Statutes, Chapter 65, section 5/11 - 39.1 -1); and,
WHEREAS, the CITY is a home rule unit which may exercise any power and
perform any function relating to its government and affairs; and,
WHEREAS, the United States government has appropriated funds for emergency
assistance for the redevelopment of abandoned and foreclosed upon homes and residential
properties under Title III of the Housing and Economic Recovery Act of 2008 (Pub. L 110 -289,
122 Stat. 2850, enacted July 30, 2008) ( "HERA "), to be treated as though such funds were
Community Development Block Grant funds under the Housing and Community Development
Act of 1974, (Pub. L 93 -383) as amended (the "ACT ") and to be administered through the
United States Department of Housing and Urban Development ( "HUD "); and,
WHEREAS, the CITY has applied to HUD for HERA funds ( "CITY'S NSP
funds ") to be used for a Neighborhood Stabilization Program ( "NSP ") for the purpose of
acquiring and redeveloping abandoned and foreclosed homes and residential properties that
might otherwise become sources of blight within Elgin neighborhoods; and,
WHEREAS, the CITY, as part of its application to HUD, held a citizen
participation period to solicit comment and input from not - for - profit organizations and social
service agencies to partner with the CITY to carry out and execute the goals and objectives of
NSP, specifically to assist to acquire and redevelop foreclosed and abandoned properties for
affordable housing for low - income families under the NSP; and,
WHEREAS, the CITY has selected the DEVELOPER and hereby agrees to
distribute to DEVELOPER a portion of funds available from the CITY'S NSP funds for the
purposes set forth herein, the portion distributed to DEVELOPER being in an amount and upon
the conditions provided herein; and,
WHEREAS, the DEVELOPER is fully qualified and possesses the requisite
skills, knowledge, qualifications and experience to perform the work described herein; and,
WHEREAS, DEVELOPER possesses the legal authority to execute an agreement
to undertake the activity described herein and its governing body has duly adopted or passed as
an official act, a resolution, motion or similar action authorizing the person identified as the
official representative of the DEVELOPER to execute the AGREEMENT, all understandings
and assurances contained herein, and directing the authorization of the person identified as the
official representative of the DEVELOPER to act in connection with the execution of the
AGREEMENT and to provide such additional information as may be required; and,
WHEREAS, the various undertakings by the CITY in this AGREEMENT pertain
to the government and affairs of the City and are authorized by law; and,
WHEREAS, the CITY and DEVELOPER enter into this AGREEMENT pursuant
to their respective powers to enter into such agreements, as those powers are defined in the
Illinois Constitution and applicable statutes.
NOW, THEREFORE, for and consideration of the mutual promises and
undertakings set forth herein, and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
I. INCORPORATION AND CONSTRUCTION
A. All recitals set forth above are incorporated herein and made part hereof, the same
constituting the factual basis for this AGREEMENT.
B. The section headings of the paragraphs and subparagraphs of this AGREEMENT are for
convenience of reference only and shall not be deemed to constitute part of this
AGREEMENT or to affect the construction hereof.
II. CONVEYANCE OF THE SUBJECT PROPERTY
The CITY hereby agrees to convey, in consideration of one dollar, the property commonly
known as 108 -110 S. Charming Street, Elgin, Illinois 60120, P.I.N. 06 -13- 332 -008 (the
"PROPERTY ") to DEVELOPER. A contract providing for the sale of the PROPERTY, to
be entered into concurrently with this AGREEMENT, is attached hereto as Exhibit A.
III. STATEMENT OF WORK AND ELIGIBLE COSTS
A. STATEMENT OF WORK SUMMARY: The DEVELOPER hereby agrees to perform
activities described in this Section III in accordance with the time periods specified in
Section V hereof. The DEVELOPER shall utilize NSP funds for eligible costs associated
with the rehabilitation and resale of the PROPERTY to a low- income eligible household
as specified in Section III and Section IV hereof (the "PROJECT ").
B. SCOPE OF WORK AND COST ESTIMATES: Within the time period specified in
Section V hereof, the Developer shall prepare and submit to the City for its approval a
detailed scope of work ( "Scope of Work ") providing for the rehabilitation of the
PROPERTY in accordance with the rehabilitation standards contained herein, and
detailed cost estimates for the same. Upon approval by the City, the Scope of Work and
Cost Estimates shall be incorporated into this AGREEMENT as Exhibit B.
C. PERFORMANCE OF THE WORK AND REHABILITATION STANDARDS: The
DEVELOPER agrees to rehabilitate and renovate the PROPERTY in accordance with the
Scope of Work and the terms, conditions and provisions of this AGREEMENT. The
PROPERTY shall be rehabilitated in accordance with the CITY "housing rehabilitation
standards," which are defined as those standards currently in place under the City of
Elgin Property Maintenance Code, Chapter 16.12 of the Elgin Municipal Code, 1976, as
amended. The standard requires that all buildings purchased for redevelopment be
brought up to local code, that required building permits be obtained, and that appropriate
inspections be performed. In addition the rehabilitation of the PROPERTY shall include,
but not be limited to, any repairs or alterations necessary to provide for the conversion of
the PROPERTY from a multi -unit residential use to a single - family use. DEVELOPER
shall permit CITY to erect a sign in a prominent place at the PROPERTY crediting the
City of Elgin, Community Development Group and HUD for funding of the PROJECT.
D. DEVELOPER may subcontract all or any portion of the PROJECT, as allowed by CITY
policy, to such engineers, architects, construction contractors or other entities as
DEVELOPER shall deem appropriate or necessary and upon such terms as may be
acceptable to DEVELOPER, provided applicable administrative and procurement
requirements are followed as set forth in Sections VII and VIII of this AGREEMENT.
DEVELOPER certifies that it will include in its contracts financed in whole or in part
with NSP funds, all clauses required by Federal laws, executive orders, or regulations,
and each contractor will also include in its subagreements and contracts financed in
whole or in part with NSP funds all applicable clauses required by Federal laws,
executive orders, or regulations.
E. COMPLIANCE WITH LAWS: Notwithstanding anything to the contrary in this
AGREEMENT, it is expressly agreed and understood by the DEVELOPER that in
performance of this AGREEMENT and the rehabilitation of the PROPERTY that the
DEVELOPER shall also comply with all applicable federal, state, city and other
requirements of law. DEVELOPER shall also at its expense secure all permits and
licenses, pay all charges and fees and give all notices necessary and incident to the due
and lawful prosecution of the work necessary to provide for the rehabilitation of the
PROPERTY as described in this AGREEMENT, subject to any reimbursement by the
CITY as provided herein. All costs of the rehabilitation of the PROPERTY shall be paid
in accordance with the terms of this AGREEMENT. The rehabilitation of the
PROPERTY shall be in accordance with all City standards and regulations relating to
historic preservation, as applicable.
SALE TO INCOME ELIGIBLE HOUSEHOLD: After rehabilitation, the DEVELOPER
shall sell the PROPERTY to a household whose income does not exceed fifty percent
(50 %), of the median family income of the Chicago - Naperville - Joliet MSA as published
by HUD from time to time, adjusted for family size (hereinafter INCOME- ELIGIBLE
HOUSEHOLDS). Households shall be determined to be INCOME- ELIGIBLE
HOUSEHOLDS using the IRS Form 1040 Adjusted Gross Income definition of income
calculation. The DEVELOPER shall be responsible for identifying a qualified new
owner following the completion of the rehabilitation of the PROPERTY in accordance
with the terms and provisions of the AGREEMENT. Notwithstanding anything
contained herein to the contrary, in the event the income eligibility threshold relating to
INCOME - ELIGIBLE HOUSEHOLDS is raised subsequently by HUD or under HERA,
or any successor entities or laws, the income eligibility threshold for purposes of this
AGREEMENT shall then be deemed such new and raised income eligibility threshold.
IV. ELIGIBLE COSTS BUDGET; REIMBURSEMENT PROCEDURES; TERMS OF NSP
FUNDING RELATING TO RESALE TO INCOME ELIGIBLE HOUSEHOLDS
A. The Eligible Costs budget eligible to be disbursed to the DEVELOPER, as described in
Section III, shall be in a total amount not to exceed $77,490. The eligible costs are to be
obligated to the PROJECT in accordance with Section V. For the purposes of this
AGREEMENT, obligated includes eligible rehabilitation costs for which work may not
have been completed, but for which a bid has been awarded or for which a detailed cost
estimate has been provided.
B. ELIGIBLE COSTS: DEVELOPER agrees to administer the PROJECT in accordance
with the following: the ACT; HERA; Federal Register Notice, Vol. 73, No. 194,
published October 6, 2008; Title 24 CFR Part 570 (Community Development Block
Grants); and other applicable federal, state, and local laws, ordinances and regulations.
DEVELOPER shall require such compliance and assurances in all lower tier contracts
and subcontracts financed in whole or in part with the NSP funds. DEVELOPER shall
perform all acts with responsibility to the CITY in the same manner as the CITY is
required to perform all acts with responsibility to the Federal government. The scope of
activities to be performed, pursuant to this AGREEMENT, will be governed by, and
limited to, the following:
1. DEVELOPER may not request disbursement of funds under this AGREEMENT until
the funds are needed for payment of eligible costs. The amount of each request must
be limited to eligible costs as reasonably determined by the CITY.
2. CITY shall provide NSP funds to DEVELOPER to reimburse DEVELOPER for
eligible costs that the CITY determines to be customary and reasonably associated
with the PROJECT, as follows:
a. Costs of rehabilitation, as applicable, including supplies, materials, and hiring
contractors, subcontractors, and trades necessary to complete the work. All work
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for which a licensure or certification program exists locally or in the State of
Illinois must be carried out by properly licensed or certified persons.
b. Usual and customary costs associated with carrying each PROPERTY until it is
sold to an eligible household, including, but not limited to, management fees,
maintenance costs, insurance, real estate taxes, and replacement reserves.
c. Costs associated with the sale of each PROPERTY to an INCOME ELIGIBLE
HOUSEHOLD, including, but not limited to, the costs of advertising the unit for
sale, homebuyer counseling by a HUD certified home owner counseling agency,
screening potential homebuyers, performing income qualification procedures,
reasonable attorneys' fees and preparing required documentation.
d. Other such related costs that have the same intent as this AGREEMENT, that are
customary and reasonably pre- approved by the CITY, and that are eligible for
NSP funding.
C. Reimbursement for rehabilitation or resale costs of a PROPERTY shall be pursuant to the
following provisions and subject to the submission of the following information to the
CITY:
1. An original, executed Request for Payment form.
2. A detailed scope of work for the rehabilitation for which reimbursement is being
requested.
3. Receipts for materials, appropriate lien waivers from contractors, and, "paid in full"
or "paid to date" invoices from contractor with copy of DEVELOPER'S payment
check(s).
4. Additional customary documentation, if requested, at reasonable discretion of CITY.
5. DEVELOPER may request reimbursement of eligible rehabilitation or construction
costs on an ongoing basis throughout the rehabilitation period.
6. Any change orders requested by contractors and subcontractors in excess of $5,000
must be sent by DEVELOPER with a letter of explanation stating the cause and need
for the change order to the CITY for approval prior to authorization of work. The
CITY shall have three (3) business days to approve or reject (with an explanation)
such change or such change order shall be deemed approved; provided, however, that
in no event shall the total costs to the CITY under this AGREEMENT exceed the not -
to- exceed amount of $77,490 set forth in Section IV.A, above.
D. Upon release of funds by HUD for the PROJECT, the CITY shall make disbursements to
the DEVELOPER in compliance with Sections IV.B and IV.C., above. All claims of
DEVELOPER shall comply with the following requirements:
1. DEVELOPER shall submit a listing of all disbursements of NSP funding, on a form
provided by the CITY.
2. Any request for reimbursement or advancement pertaining to work under contracts
and subcontracts shall include DEVELOPER'S certification as follows:
a. For interim payments to contractors and subcontractors, certification that the work
for which payment is requested has been performed and is in place and to the best
of DEVELOPER'S knowledge, information and belief, the quality of such work
is in accordance with the subcontract, subject to: (i) any evaluation of such work
as a functioning project upon substantial completion; (ii) the results of any
subsequent tests permitted by the subcontract; and (iii) any defects or deficiencies
not readily apparent upon inspection of the work; and;
b. For final payment, that the work has been performed in a good, workmanlike,
satisfactory manner and in conformance with the subcontract and local building
code.
3. Processing of all requests for payment shall be contingent upon the submission of the
required documentation to CITY that fully complies with all applicable Federal, state,
CITY or local statutes, rules or regulations. CITY reserves the right to withhold
funded amounts until all such requirements are met. Requests for payment meeting
such requirements shall be paid by the CITY within thirty (30) days of receipt of such
request by the CITY.
4. If so requested by CITY, DEVELOPER shall forward to the CITY all billings,
vouchers, and other documents representing any accounts payable, in such timely and
reasonable manner as both parties shall determine.
E. Resale of the PROPERTY to an income eligible household shall be subject to the
submission of the following information to the CITY prior to closing and in accordance
with the following procedures:
1. Original, executed Request for Payment form, if closing will require NSP funds from
CITY.
2. A copy of either (a) the executed contract or (b) other written instrument used by
DEVELOPER for the sale or conveyance of real estate between DEVELOPER and
purchaser.
3. Documentation of the purchaser household characteristics and income in a form
reasonably approved by the CITY.
4. Documentation verifying that purchaser has completed eight hours of homebuyer
counseling from a HUD approved homebuyer counseling agency.
5. A copy of financing commitment letter from DEVELOPER or other lender(s), if any.
6. A copy of Truth -in- Lending statement from DEVELOPER or other lender(s), if any.
7. Copy of a certificate of insurance or letter from an insurance carrier to the effect that
as of the date of the conveyance, the purchaser will have a hazard insurance policy for
the PROPERTY.
8. Information as to date, time, and location of closing.
9. The sales price of any PROPERTY shall be the lesser of the appraised value or the
aggregation of all costs of acquisition, rehabilitation, and redevelopment.
DEVELOPER shall also record deed restrictions against each PROPERTY in a form
customary for conveyances of this nature and reasonably acceptable to CITY to
ensure long -term affordability.
RESALE AND AFFORDABILITY: Housing assisted with NSP funds must meet the
affordability requirements of 24 CFR 92.954, and funds must be repaid to the CITY if the
PROPERTY does not meet the affordability requirements for the specified time period.
To maintain such affordability, the deed of conveyance conveying the PROPERTY from
the CITY to the DEVELOPER shall contain a provision making such conveyance subject
to the terms and obligations of this AGREEMENT and to provide for continued
affordability of the PROPERTY to an INCOME ELIGIBLE HOUSEHOLD for a period
of fifteen (15) years. All of the following conditions shall be included in the deed
restrictions. In the event that any one or more of these conditions occurs or fails to be
satisfied, the DEVELOPER shall be considered in default:
For the purposes of this AGREEMENT "affordable" or "affordability" shall be
defined as a condition where the total fixed costs (principal, interest, taxes and
insurance) for a purchaser of the PROPERTY do not exceed thirty-five percent (35 %)
of the purchaser's household income. The "affordability period" shall be defined as a
period of fifteen (15) years from the date of "project completion," defined at 24 CFR
§92.2 as when all necessary title transfer requirements to the purchaser have been
performed and construction work has been completed on the PROPERTY.
2. The DEVELOPER fails to sell the PROPERTY as affordable housing for households
whose incomes are below 50% of the median family income as defined in Section
III.F, above.
If during the affordability period the PROPERTY is subsequently sold to a purchaser
with household incomes not below the fifty percent (50 %) of the median family
income as defined in Section III.F, above.
4. If the PROPERTY ceases to be occupied and used as the primary place of residence
for any purchaser that is on the title to the home; provided however, that in the event
the PROPERTY ceases to be a purchaser's primary place of residence, CITY will
allow a reasonable amount of time, not to exceed sixty (60) days, to permit either (a)
DEVELOPER to repurchase the PROPERTY for resale to an ELIGIBLE - INCOME
HOUSEHOLD, or (b) the PROPERTY to otherwise be sold to an INCOME -
ELIGIBLE HOUSEHOLD, prior to otherwise enforcing said residency requirement.
5. If the DEVELOPER files any petition in bankruptcy, or for a receiver, or insolvency,
or for reorganization of composition, or makes any assignment for the benefit of
creditors or to a trustee for creditors, or permits an adjudication in bankruptcy, the
taking of possession of the PROPERTY or any part thereof by the receiver, or the
seizure and sale of the PROPERTY or any part thereof under judicial process or
pursuant to any power of sale, and fails to have such adverse action set aside within
ninety (90) days.
6. The DEVELOPER transfers, or otherwise encumbers the PROPERTY, without the
prior express written consent of the CITY; provided, however, no such express
written consent of the CITY is required for the transfer to the DEVELOPER pursuant
to this AGREEMENT, including Exhibit A hereof.
7. If the DEVELOPER fails to maintain during its ownership the PROPERTIES or any
PROPERTY and its grounds and equipment pertinent thereto according to applicable
housing quality standards and all local and state codes and ordinances.
8. If the DEVELOPER shall fail to purchase fire and extended coverage insurance and
flood insurance, if required, thereon and provide and file a certificate of said coverage
with the CITY, the proceeds of which, in the event said structure shall be destroyed or
damaged by fire or other casualty, shall be used for reconstruction of said structure
upon the said real estate.
9. The foregoing notwithstanding, in the event of any sale by a purchaser of the
PROPERTY, the purchaser shall be entitled to receive a fair return on the purchaser's
investment. The purchaser's investment is defined as the sum of the purchaser's
down payment, principal payments and capital improvements.
In the event of a default with respect to one or more of the conditions above, and /or in the
event the DEVELOPER otherwise breaches the terms of this AGREEMENT, which
default has not been cured within thirty (30) days after receipt of written notice of such
default, the City may file suit within the Circuit Court for the Sixteenth Judicial Circuit,
Kane County, Illinois, for a determination that the DEVELOPER has so breached this
agreement and may then pursue any and all available remedies at law, equity or otherwise
including but not limited to recapturing the amount of any subsidy provided under this
AGREEMENT and /or terminating the DEVELOPER's and any purchaser's rights in and
to the PROPERTY and requiring the conveyance of the PROPERTY back to the CITY
free and clear of all rights of the DEVELOPER and any other person or entity. Upon the
expiration of the affordability period, the CITY agrees to provide the DEVELOPER a
release from the deed restrictions in recordable form. Notwithstanding the foregoing to
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the contrary, DEVELOPER shall have the right to make it a deed restriction that it shall
have the right of first refusal to repurchase the PROPERTY should the purchaser sell the
PROPERTY to a subsequent buyer who is not deemed an INCOME ELIGIBLE
HOUSEHOLD in which case, such sale shall not be deemed an event of default under
this AGREEMENT.
V. SCHEDULE FOR COMPLETION AND TIMELINESS; REHABILITATION; TERM OF
AGREEMENT
A. Time is of the essence of this AGREEMENT. DEVELOPER shall be responsible for
meeting the completion dates for the activities listed below. If a DEVELOPER does not
meet a completion date, DEVELOPER shall immediately submit a revised
implementation schedule for approval by the CITY. The DEVELOPER shall be required
to secure all permits to complete the rehabilitation of the PROPERTY in accordance with
the Scope of Work. If the DEVELOPER bids out any or all of the rehabilitation work,
the bids shall be based on the Scope of Work. Once the DEVELOPER has secured
permits for the PROJECT, the CITY will provide a Notice to Proceed.
Activity
1. Complete Scope of Work and Cost Estimates
on rehabilitation:
2. Obligate funds in accordance with section III.A, herein:
3. Complete bids on rehabilitation; Secure permits:
4. Completion of Demolition, Interior and Exterior:
5. Foundation and Structural Supports of Primary Structure:
6. Exterior of Primary Structure:
7. Rough Framing, Rough Electrical, Rough Plumbing.
8. Venting and Air Conditioning Systems:
9. Finish Inspection and Project Completion:
Completion Date
July 23, 2010
July 23, 2010
September 1, 2010
November 1. 2010
December 30, 2010
June 1, 2011
June 1, 2011
June 15, 2011
July 15, 2011.
B. DEVELOPER shall complete specific obligation of NSP Funds pursuant to the
PROJECT by July 23, 2010. If DEVELOPER is delayed in the obligation of the
PROJECT funds by any cause legitimately beyond its control, as determined by the
CITY, such that it cannot obligate the PROJECT funds by the July 23, 2010, it shall
immediately give written notice to the Director of Community Development ( "Director ")
and to the CITY of the anticipated delay, the reasons therefore and request an extension
to obligate funds to the PROJECT. Under no circumstances shall the time extended by
the Director be later than July 30, 2010. The CITY agrees to reasonably assist
DEVELOPER in obtaining permits for the PROJECT, and to process such permits in a
C
reasonably expeditious manner. Notwithstanding anything contained herein or in this
AGREEMENT to the contrary, for so long as the DEVELOPER is diligently pursuing the
permitting process with the CITY and the CITY and the DEVELOPER are working on
obtaining and granting, as applicable, the permit, the failure to secure such permit(s) by
September 1, 2010 shall not be deemed an event of default of a nature allowing the CITY
to terminate this AGREEMENT.
C. DEVELOPER shall commence with the rehabilitation of the PROPERTY in accordance
with the schedule above. Upon DEVELOPER commencing with rehabilitation of the
PROPERTY, DEVELOPER shall continue with such rehabilitation in as expeditious
manner as is reasonably practicable. DEVELOPER shall complete the rehabilitation of
the PROPERTY in accordance with the schedule above; provided, however, that such
Completion Date for the rehabilitation of the PROPERTY shall be extended by one (1)
day for each day which construction is delayed or stopped due to accident, strikes,
shortage of materials, extreme weather or acts of God. In the event DEVELOPER
requires any further extension of the Completion Date for the rehabilitation of the
PROPERTY, any such request shall be submitted to the CITY in writing specifying the
reasons for such an extension and the amount of additional time being requested. Any
agreement by the City to further extend the Completion Date for the rehabilitation of the
PROPERTY shall be at the commercially reasonable discretion of the City Council of the
CITY. The rehabilitation of the PROPERTY shall be deemed completed when the
DEVELOPER has completed all of the work involved with the proposed rehabilitation of
the PROPERTY and has obtained a final inspection and final occupancy permit for the
PROPERTY from the CITY.
D. After a period of three (3) months from the date of this AGREEMENT, the Director may
review the progress of the PROJECT. At the time of this review, if the DEVELOPER
has not demonstrated significant progress toward completion and, if the DEVELOPER
has not made substantial effort toward completion and delays are reasonably determined
by CITY to be within the control of the DEVELOPER; the Director shall notify the
DEVELOPER in writing of her findings and if the DEVELOPER has not taken
corrective measures of significant progress within thirty (30) days after receipt of such
written notice, the Director shall recommend to the CITY that this AGREEMENT be
terminated, and all further payments suspended, and the CITY shall act upon said
recommendation and notify the DEVELOPER of its action.
E. This AGREEMENT shall remain in full force and effect for as long as the required
affordability period of the PROJECT is in place as provided herein.
VI. PROGRAM INCOME
A. DEVELOPER must keep detailed accounting records, in a form approved by CITY, of
the income and expenses of its NSP portfolio. Such records shall be submitted to CITY
for its review no later than forty -five (45) days after the end of DEVELOPER's fiscal
year or from time to time as requested by CITY should HUD require additional reporting
periods.
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B. Payments received by DEVELOPER on the notes and mortgages between DEVELOPER
and the homebuyer /purchaser of the PROPERTY are considered program income under
the NSP. These mortgages will be considered "financing mechanisms" under the NSP
and repaid amounts shall be retained by DEVELOPER, must be accurately accounted for,
and must be re -used to benefit INCOME ELIGIBLE HOUSEHOLDS in a CITY
approved area of greatest need within the CITY for a time period equal to the minimum
affordability requirement period for the PROPERTY.
VII. UNIFORM ADMINISTRATIVE REQUIREMENTS
A. Although acting as a developer, DEVELOPER must comply with applicable portions of
24 CFR Part 84 Uniform Administrative Requirements for Grants and Agreements with
Institutions of Higher Education, Hospitals, and Other Non - Profit Organizations, except
that DEVELOPER may name its development team. These regulations implement OMB
Circular 110 and set forth uniform requirements for nonprofit organizations, including
financial management systems, property standards, procurement standards, reporting and
record keeping.
B. Although acting as a developer, DEVELOPER must comply with the requirements and
standards of OMB Circular A -122, "Cost Principles for Non - profit Organizations." This
Circular establishes principles for determining allowable costs.
C. Although acting as a developer, DEVELOPER must comply with OMB Circular A -133
"Audit Requirements." For any year that DEVELOPER expends more than $500,000 in
NSP funds, DEVELOPER must have a single audit which includes its financial
statements and its federal awards from all applicable federal programs. Notwithstanding
the foregoing, if NSP funding is the sole source of federal funds during any year in which
DEVELOPER expends more than $500,000 in federal funds, a program - specific audit
may be conducted.
VIII. OTHER PROGRAM REQUIREMENTS
A. The project will be conducted and administered in compliance with applicable federal
civil rights and fair housing law, including, but not limited to:
Title VI of the Civil Rights Act of 1964 (Pub. L. 88 -352, 42 U.S.C. §2000d et se q.
and implementing regulations issued at 24 CFR Part 1.
2. Title VIII of the Civil Rights Act of 1968 (Pub. L. 90 -208, 42 U.S.C. §2000d et sea•),
as amended; and that the DEVELOPER will administer all programs and activities
related to housing and community development in a manner to affirmatively further
fair housing.
3. The Fair Housing Act (42 U.S.C. 3601 -20).
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4. Executive Order 11063, as amended by Executive Order 12259 (Equal Opportunity in
Housing), and implementing regulations in 24 CFR Part 107.
5. Age Discrimination Act of 1975 (Pub. L. 94 -135), as amended, and implementing
regulations when published for effect.
B. Section 109 of the ACT requires that no person in the United States shall on the grounds
of race, color, national origin, religion, or sex be excluded from participation in, be
denied the benefits of, or be subjected to discrimination under any program or activity
receiving Federal financial assistance made available to the ACT. Discrimination on the
basis of age is also prohibited.
C. If the PROJECT is for a capital improvement on a facility or for rehabilitation of
residential property if such property contains more than seven (7) units, the
DEVELOPER shall comply with the Federal Labor Standards and Prevailing Wage
Rates, including the conducting of employee interviews of the contractor and /or
subcontractors at the job site. This PROJECT is for acquisition and rehabilitation of one
(1) single family unit.
D. CITY is responsible for the preparation of environmental reviews for the PROJECT and
enforcement of environmental standards. CITY and DEVELOPER agree and
acknowledge that this AGREEMENT does not constitute a commitment of funds or site
approval for a particular PROPERTY or PROPERTIES, and that such commitment of
funds or approval may occur only upon satisfactory completion of environmental review
under 24 CFR Part 58. DEVELOPER shall supply all information requested by CITY to
complete such reviews, shall carry out any mitigating measures required by CITY, and
shall not rehabilitate, repair or sell any property, nor commit or expend NSP or local
funds for a PROPERTY or PROPERTIES until CITY has completed an environmental
review to the extent required under 24 CFR Part 58 and has given notification of its
approval in accordance with 24 CFR Part 58. Such environmental review and report
shall be (a) submitted to DEVELOPER upon not less than 15 days prior to the CITY
conveying the PROPERTY to DEVELOPR and (b) acceptable to DEVELOPER, in
DEVELOPER'S reasonable discretion.
E. DEVELOPER shall comply with the Lead -Based Paint Poisoning Prevention Act (42
U.S.C. §4821- 4846), the Residential Lead -Based Paint Hazard Reduction Act of 1992
(42 U.S.C. §4851 -4856) and implementing regulations at 24 CFR Part 35; subparts A, B,
J, K, and R of this part apply to this PROJECT.
F. DEVELOPER shall not use debarred, suspended or ineligible contractors or
subcontractors in carrying out this PROJECT.
G. DEVELOPER shall comply with administrative and procurement requirements in
accordance with 24 CFR Part 84 (except that DEVELOPER may name its development
team), including the conflict of interest provisions and the following provisions, to assure
12
the best available price for any subcontracts for rehabilitation activities associated with
the PROJECT:
1. DEVELOPER shall avoid purchasing unnecessary items.
2. Where appropriate, an analysis should be made of lease and purchase alternatives to
determine which would be most economical and practical.
3. The bid specifications or work write -ups shall include: a clear and accurate
description of the technical requirements for the material, product or service to be
procured (such descriptions shall not contain features which unduly restrict
competition); requirements which the bidder /offeror must fulfill and all other factors
to be used in evaluating bids or proposals; a description, whenever practicable, of
technical requirements in terms of functions to be performed, including the range of
acceptable characteristics or minimum acceptable standards; specific features of
"brand name or equal" descriptions that bidders are required to meet; acceptance to
the extent practicable and economically feasible, of products and services
dimensioned in the metric system of measurement; preference, to the extent
practicable and economically feasible, for products and services that conserve natural
resources, protect the environment, and are energy efficient.
4. The DEVELOPER shall submit the bid specifications or work write -ups and plans to
the CITY office for staffs approval prior to any advertising or bid solicitation.
In the event any contracts are required to by publicly bid, the DEVELOPER shall
include in any invitation for bids or work write -up being used to solicit bids, the
statement "Minorities and women contractors are encouraged to submit bids."
DEVELOPER shall send an invitation to bid to the MBE and WBE firms currently
listed with CITY, as appropriate for the type of work to be done..
6. If sealed bids are required, all bids will be publicly opened at the time and place
prescribed in the invitation for bids.
If sealed bids are required, the DEVELOPER shall provide the CITY office with
copy of the classified advertisements and the results from the bid opening.
8. The contract award will be made, in writing, to the entity submitting lowest qualified
responsive and responsible bid or proposal meeting the specifications. Any or all bids
may be rejected, if there is reason to believe that the low bidder will be unable to
complete the project in accordance with the bid specifications, including, but not
limited to, the following reasons: contractor has been debarred by the U.S.
government from working on Federally funded projects, contractor is unable to
furnish any required bond, contractor has a poor record of past performance, or
contractor's bid is unusually low in relation to other bids and contractor is not able to
document how it will be able to meet the bid specifications for the amount bid.
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9. Except as otherwise required by statute, DEVELOPER may follow its own
requirements relating to bid guarantees, performance bonds, and payment bonds,
except for contracts or subcontracts exceeding $100,000. Such contracts or
subcontracts must meet the following requirements: a bid guarantee from each bidder
equivalent to five percent (5 %) of the bid amount shall be obtained consisting of a bid
bond, certified check, or other negotiable instrument; a performance bond on the part
of the contractor for 100 percent (100 %) of the contract price shall be required; and a
payment bond on the part of the contractor for 100 percent (100 %) of the contract
price shall be required.
10. DEVELOPER shall provide the CITY with copies of all executed contracts.
H. In the acquisition and disposition of real property and the provision of assistance, in
accordance with 24 CFR §570.611, no person who exercises or has exercised any
functions or responsibilities with respect to NSP activities, or who is in a position to
participate in a decision making process or gain inside information with regard to such
activities, may obtain a financial interest or benefit from an NSP assisted activity, or have
a financial interest in any contract, subcontract, or agreement with respect to an NSP
assisted activity, or with respect to the proceeds of the NSP assisted activity, either for
themselves or those with whom they have business or immediate family ties, during their
tenure or for one year thereafter. This applies to any person who is an employee, agent,
consultant, or officer of DEVELOPER.
I. The Architectural Barriers Act, the Americans with Disabilities Act, and Section 504 of
the Rehabilitation Act of 1973 shall be followed, to the extent applicable to the
PROJECT.
J. DEVELOPER agrees that to the best of its knowledge, neither the PROJECT nor the
funds provided therefore, and the personnel employed in the administration of the
program shall be in any way or to any extent engaged in the conduct of political activities
in contravention of Chapter 15 of Title 5, United States Code, referred to as the Hatch
Act.
K. DEVELOPER certifies, to the best of its knowledge and belief, that:
No Federal appropriated funds have been paid or will be paid, by or on behalf of the
undersigned, to any person for influencing or attempting to influence an officer or
employee of an agency, a Member of Congress, an officer or employee of Congress,
or an employee of a Member of Congress in connection with the awarding of any
Federal contract, the making of any Federal grant, the making of any Federal loan, the
entering into of any cooperative agreement, and the extension, continuation, renewal,
amendment, or modification of any Federal contract, grant, loan, or cooperative
agreement.
2. If any funds other than Federal appropriated funds have been paid or will be paid to
any person for influencing or attempting to influence an officer or employee of any
14
agency, a Member of Congress, an officer or employee of Congress, or an employee
of a member of Congress in connection with this Federal contract, grant, loan, or
cooperative agreement, the undersigned shall complete and submit Standards Form —
LLL, "Disclosure Form to Report Lobbying," in accordance with its instructions.
3. The undersigned shall require that the language of this certification be included in the
award documents for all subawards at all tiers (including subcontracts, subgrants, and
contracts under grants, loans, and cooperative agreements) and that DEVELOPER
shall certify and disclose accordingly.
This certification is a material representation of fact upon which reliance was placed
when this transaction was made or entered into. Submission of this certification is a
prerequisite for making or entering into this transaction imposed by section 1352, title
31, U.S. Code. Any person who fails to file the required certification shall be subject
to a civil penalty of not less than $10,000 and not more than $100,000 for each such
failure.
L. The DEVELOPER certifies that it will provide a drug -free workplace by:
Publishing a statement notifying employees that the unlawful manufacture,
distribution, dispensing, possession or use of a controlled substance is prohibited in
the DEVELOPER's workplace and specifying the actions that will be taken against
employees for violation of such prohibition;
2. Establishing a drug -free awareness program to inform employees about
a. The dangers of drug abuse in the workplace;
b. The DEVELOPER's policy of maintaining a drug -free workplace;
c. Any available drug counseling, rehabilitation, and employee assistance programs;
and,
d. The penalties that may be imposed upon employees for drug abuse violations
occurring in the workplace.
Making it a requirement that each employee to be engaged in the performance of the
grant be given a copy of the statement required by paragraph (1);
4. Notifying the employee in the statement required by paragraph (1) that, as a condition
of employment under the grant, the employee will
a. Abide by the terms of the statement; and,
b. Notify the employer of any criminal drug statute conviction for a violation
occurring in the workplace no later than five days after such conviction;
5. Notifying the CITY within ten (10) days after receiving notice under subparagraph
(4)(b) from an employee or otherwise receiving actual notice of such conviction;
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6. Taking one of the following actions, within 30 days of receiving notice under
subparagraph (4)(b), with respect to any employee who is so convicted:
a. Taking appropriate personnel action against such an employee, up to and
including termination; or.
b. Requiring such employee to participate satisfactorily in a drug abuse assistance or
rehabilitation program approved for such purposes by a Federal, State, or local
health, law enforcement, or other appropriate agency;
Making a good faith effort to continue to maintain a drug -free workplace through
implementation of paragraphs (1), (2), (3), (4), (5) and (6).
IX. CITY'S OBLIGATION TO PROSECUTE AGREEMENT
A. CITY shall forthwith file all applicable documents and shall comply with all applicable
rules and regulations to secure a release of funds for the PROJECT.
B. After the CITY has received notification that funds for the PROJECT have been released
by HUD, the DEVELOPER shall be authorized to begin the PROJECT so long as the
PROJECT remains in compliance with the Neighborhood Stabilization Program and this
AGREEMENT.
X. RECORDS AND REPORTS
A. DEVELOPER authorizes the CITY, HUD, and the Comptroller General of the United
States to conduct on -site reviews, to examine, inspect, and audit, the DEVELOPER'S
records with respect to the PROPERTY, rental applications and to conduct any other
procedures or practices to assure compliance with the provisions of this AGREEMENT
upon demand. All of the foregoing shall be at no cost to the DEVELOPER.
B. At the request of the CITY, the DEVELOPER shall furnish immediately, if required by
the Comptroller General, otherwise within seven (7) business days of such request, such
reports, budgets, certifications and other documents required pursuant to federal, state, or
CITY rules, regulations and policies that are applicable to the PROJECT and shall give
specific answers to questions from the CITY, from time to time, relative to the
DEVELOPER'S contracts and operations in connection with the PROJECT.
C. DEVELOPER shall, each year as long as the PROJECT remains in effect, complete an
audit of the PROJECT, conducted by an independent Certified Public Accountant, and
shall submit a copy of the audit report to the CITY within six months of the close of
DEVELOPER'S year end. Please note the single audit requirements contained in Section
VI. C. above.
D. DEVELOPER shall submit all required information to show compliance with applicable
laws, rules and regulations, as specified in this AGREEMENT, including but not limited
to:
16
1. Prior to acquisition of any PROPERTY, its Affirmative Marketing Plan.
2. Beneficiary data on income, race, ethnicity, gender of single head -of- households, and
other data requested by CITY necessary to complete CITY'S reporting requirements
to HUD.
E. DEVELOPER shall provide a Progress Report to the CITY by the fifth of each month,
reporting on the status of the PROJECT in relation to the PROJECT target dates. The
Progress Reports shall begin upon the signing of this AGREEMENT and shall continue
throughout the acquisition and rehabilitation period of the PROJECT.
F. DEVELOPER shall submit each year to the CITY an annual report of the status of the
PROJECT in a form prescribed by the CITY, or at the request of the CITY from time to
time if necessary to meet NSP reporting requirements.
G. DEVELOPER shall maintain the following records:
For each PROPERTY, for a period of five (5) years after such homebuyer /purchaser
has acquired the PROPERTY: records pertaining to closing of the PROPERTY,
including a copy of the contract, closing documentation, and those records that
demonstrate that the household was income eligible at the time of the closing but
shall otherwise not be required to obtain proof that the purchaser continues to remain
income eligible thereafter.
2. For a period of five years after the closing of the PROPERTY: Documentation of all
activities undertaken in connection with DEVELOPER'S affirmative marketing plan.
3. For as long as DEVELOPER owns a PROPERTY and for five years thereafter: all
financial records pertaining to the acquisition and rehabilitation of the PROPERTY.
4. If any litigation, claim, negotiation, audit or other action involving the records has
been started before the expiration of the five year period, the records must be retained
until completion of the action and resolution of all issues which arise from it, or until
the end of the regular five year period, whichever is later.
5. DEVELOPER shall cooperate with the CITY to facilitate the maintenance of any and
all other financial records as requested by the CITY for the length of time requested,
as may be required by Title 24 CFR Part 570.
XI. SUSPENSION AND TERMINATION; REVERSION OF ASSETS
A. In accordance with 24 CFR §85.43, suspension or termination of this AGREEMENT may
occur if the DEVELOPER materially fails to comply with any tern of the award. The
award may also be terminated for convenience in accordance with 24 CFR §85.44.
17
B. During the implementation of the PROJECT, CITY may terminate this AGREEMENT or
may suspend payment of NSP funds to DEVELOPER for DEVELOPER'S breach of the
AGREEMENT, abandonment of the PROJECT or occurrence rendering impossible the
performance by DEVELOPER of this AGREEMENT. CITY may also suspend
payments of NSP funding due to use of funds in a manner unrelated to DEVELOPER'S
performing the PROJECT, failure by DEVELOPER in submitting supporting information
or documentation for a claim, submission by DEVELOPER of incorrect or incomplete
reports, or DEVELOPER'S suspension of its pursuit of the PROJECT.
C. In the event CITY elects to terminate this AGREEMENT or to suspend payments, for
any reason stated hereinabove in paragraph A and B of this Section X, it shall notify the
DEVELOPER in writing of such action, specifying the particular deficiency, at least five
(5) business days in advance of any such action and establishing a time and a place for
the DEVELOPER to refute the alleged deficiency at a time prior to CITY'S taking such
action. After allowing the DEVELOPER the opportunity to refute or correct the alleged
deficiency, if the alleged deficiency continues to exist, in the reasonable opinion of the
CITY, the CITY may withhold payment to the PROJECT until such time as the violation
or breach is remedied. No action taken or withheld by the CITY under this paragraph
shall relieve the DEVELOPER of its liability to the CITY for any funds expended in
violation of any of the terms of this AGREEMENT.
D. Reversion of assets. Upon expiration or termination of this AGREEMENT, the
DEVELOPER must transfer to the CITY any NSP funding on hand at the time of
expiration or termination and any accounts receivable attributable to use of NSP funds.
If, prior to March 1, 2015, any PROPERTY under this AGREEMENT has not been
maintained for the purpose stated in Section III hereof, DEVELOPER shall pay to CITY
an amount equal to the current market value of the PROPERTY less any portion of the
value attributable to expenditures of non -NSP funds for the acquisition of, or
improvement to, the PROPERTY.
XII. REMEDIES
A. In the event of any violation or breach of this AGREEMENT by DEVELOPER, misuse
or misapplication of funds derived from this AGREEMENT by DEVELOPER or any
violation of any of the statutes, rules and regulations, directly or indirectly, by the
DEVELOPER and /or any of its agents or representatives, then DEVELOPER, to the
fullest extent permitted by law, agrees to indemnify, and hold the CITY harmless from
any requirement to repay to HUD the NSP funding received by DEVELOPER for this
PROJECT or penalties and expenses, including attorneys' fees and other costs of
litigation, resulting from such action or omission by DEVELOPER.
B. In the event HUD, or any other federal agency, makes any claim which would give rise to
invoking the remedy provisions, as set forth in this Section XI, then the CITY or
DEVELOPER shall immediately notify the other party, in writing, providing the full
details of the alleged violation. The DEVELOPER shall have the right to contest the
claim, in its own name or in the name of the CITY, with its consent, through all levels of
18
any administrative proceedings or in any court of competent jurisdiction without any cost
to the CITY. Upon any final adjudication, or upon any settlement agreed to between the
DEVELOPER and the Federal agency, the DEVELOPER shall promptly pay any funds
found due and owing.
C. As long as the CITY is not in jeopardy of losing any other Federal funding, of any kind
or description, as a result of the alleged breach, the DEVELOPER shall have complete
right to settle or compromise any claim and to pay any judgment to the federal
government, so long as CITY is indemnified.
D. If the CITY has lost or been prevented from receiving any federal funds, other than the
funds for the PROJECT, as a result of any alleged violation subject to the remedy
provisions hereof, the DEVELOPER shall repay, upon demand by the CITY, such
amount of NSP funding due, as a result of the alleged breach, and the DEVELOPER may
then pursue any remedy it may have in an appropriate forum in its own name or in the
name of the CITY, whichever is applicable.
E. To the fullest extent allowed by law, the DEVELOPER shall assume the defense of and
shall pay, indemnify, and hold harmless CITY, its designees, and its employees from all
suits, actions, claims, mechanics' liens, demands, damages, losses, expenses, and costs of
every kind and description to which the CITY, its designees, and its employees may be
subject by reason of any act or omission of DEVELOPER, its agents or employees, in
undertaking and performing under this AGREEMENT. All litigation activity is subject to
approval by the State's Attorney's Office. The DEVELOPER does not hereby waive any
defenses or immunity available to it with respect to third parties.
XIII. MISCELLANEOUS PROVISIONS
A. AMENDMENTS — Any proposed change in this AGREEMENT shall be submitted to the
other party for prior approval. No modifications, additions, deletions, or the like, to this
AGREEMENT shall be effective unless and until such changes are executed in writing
by the authorized officers of each party. DEVELOPER acknowledges that HUD may
from time to time issue updated guidance regarding the NSP program that may require
amendment of this AGREEMENT and agrees to cooperate with CITY in making such
amendment.
B. SUBJECT TO FINANCIAL ASSISTANCE AGREEMENT — This AGREEMENT is
made subject to financial assistance agreements between the CITY and the United States
Department of Housing and Urban Development, with the rights and remedies of the
parties hereto being in accordance with this AGREEMENT.
C. ASSIGNMENT — DEVELOPER shall not assign this AGREEMENT or any part thereof,
nor shall DEVELOPER transfer or assign any property or assets acquired using NSP
funding or claims due or to become due hereunder, without the written approval of the
CITY having first been obtained. The contracting or subcontracting of rehabilitation work
on the PROPERTIES does not constitute an assignment.
19
D. CORPORATE RESOLUTION — If requested, DEVELOPER shall provide a corporate
resolution of its board of directors, in DEVELOPER'S standard form, that all steps
necessary to adopt and authorize for DEVELOPER to enter into this AGREEMENT have
been taken by DEVELOPER.
E. SEVERABILITY — In the event any provision of this AGREEMENT shall be held
invalid or unenforceable by any court of competent jurisdiction, such holding shall not
invalidate or render unenforceable any other provision hereof.
F. AGREEMENT DURATION — Unless terminated by the CITY pursuant to the terms of
this AGREEMENT above, this AGREEMENT will remain in effect for the duration of
the affordability period previously provided for herein.
G. NO PARTNERSHIP — Nothing contained in this AGREEMENT, any mortgage, note or
any other document or instrument related to this PROJECT shall be deemed to create a
venture, partnership relationship, or employer /employee relationship between the CITY
and DEVELOPER. DEVELOPER shall at all times remain an "independent contractor"
with respect to the services to be performed under this AGREEMENT.
H. CITY shall provide, upon request, copies of all laws, regulations, statutes, orders, and
OMB Circulars cited in this AGREEMENT, or internet links to such.
I. Venue for the resolution of any disputes or the enforcement of any rights arising out of or
in connection with this agreement shall be in the Circuit Court of Kane County, Illinois.
J. The parties agree to waive their right to a jury trial.
K. Each and every provision of any law and clause required by law to be inserted in this
AGREEMENT shall be deemed to be inserted herein, and this AGREEMENT shall be
read and enforced as though it were included herein, and if, through mistake or otherwise,
any such provision is not inserted or is not correctly inserted in this AGREEMENT, then
upon application of either party this AGREEMENT shall forthwith be amended to make
such insertion.
SIGNATURE PAGE FOLLOWS
20
IN WITNESS WHEREOF, the parties hereto have executed this AGREEMENT on the
dates recited below to be effective on the date first written above.
CITY OF ELGIN, a body politic in the State of Illinois.
By:
E chock, Mayor
City of Elgin
Date: July 14, 2010
Attest:
City Clerk
Name of DEVELOPER:
HABITAT FOR HUMANITY OF NORTHERN
FOX VALLEY
an Illinois not - for - profit corporation
Address: 20 S. Grove, Suite 201
Carpentersville, IL 60110
/B1� �
arb�ara�Beckman, Executive Director
ignature
Printed n ame /title: -B0L -60.x 0_Bee"
CICC 4v-G Dirc_c / VLQ I
Date: 71 � LczoiO
Attest: 4
F: \Legal Dept \Real Estate\NSP \108 -10 South Charming \Sale to Habitat For Humanity\Elgin Habitat NSP
Agreement -Final (108 -110 Charming Street).doc
21
EXHIBIT A
REAL ESTATE SALES CONTRACT
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13 DIULTI -BOARD RESIDENTIAL REAL ESTATE CONTRACT 4.0
r, l nt :c.;
OfvaplYryll,
1. THE PARTIES: Buyer and Seller are hereinafter referred to as the "Parties ".
Buyer(s)(PleaxePriprt) Habitat For Humanity of Northern Fox Valley, an Illinois not- for - profit
Apo a ion - —_
Seller(s) (Please Print) _city of El in, an I'llinniq 7
P�aerpera�ien
If Dual Agency applies, complete Optional Paragraph 41.
2. TILE REAL ESTATE: Real Estate shall be defined to include the Real Estate and all improvements thereon. Seller
agrees to cgnvey to Buyer or to Buyer's designated grantee, the Real Estate with the approximate lot size or acreage
of ir (*(. a commonly known as: 101 -110
K1tnt Address ' ^^ City tate Zip
AL te-33
County Unit #
Permanent Index
16 If Condo /Coop/Townhome Parking is Included: # of spaces) _; identified as Space(s) #
17 (check type) ❑ deeded space; ❑ limited common element; ❑. assigned space
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38
39
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41 -
42
or Real Estate
3. FIXTURES AND PERSONAL PROPERTY: All of the futures and personal property stated herein are owned by
Seller and to Seller's knowledge are in operating condition on the Date of Acceptance, unless otherwise stated herein.
Seller agrees to transfer to Buyer all fixtures, all heating, electrical, plumbing and well systems together with the
following items of personal property by Bill of Sale at Closing: [Checkor enumerate applicable items)
_ Refrigerator All Tacked Down Carpeting _Fireplace Screen(s)lDoor(s) /Gmte(s) _Central Air Conditioning
_ Oven/Range/Stove _Bu Win dowTreatments vHardware Fireplace Gas Logs _ Electronic or Media Air Filter
_ Dishwasher Built-in or Attached Shelving _ Existing Storms i Screens _ Central Humidifier
—Garbs Garbage _ Smoke Detector(s) _ Security Syslem(s) (owacd) _ Sump Pumps)
g Disposal l Collins Fan(s) _ Intercom System _ Water Softener (owned)
_Trash Compactor _ TV Antenna System _ Central Vac & Equipment _ Outdoor Shed
_Dryer Window AirCouditioner(s) _ Electronic Garage Door Openers) Attached Gas Grill
— Dryer _ Planted Vegetation with all Transmltler(s) _ Light Fixtures, as they exist
_ Satellite Dish
Other items included_ Outdoor Playsets _ Invisible Fence System, Collar(s) and Box Home Warranty S
: —
Items NOT included:
Seller warrants to Buyer that all fixtures, systems and personal property included in this Contract shall be in operating
condition at possession, except:
A system or item shall be deemed to be in operating condition if it performs the function for which it is intended,
regardless of age, and does not constitute a threat to health or safety.
4. PURCHASE PRICE: Purchase Price of
� pM
shall be paid as follows: deitiel-
3 Ps"iesr The beleuee of die- Purchase Price, as adjusted by prorations, shall be paid at Closing by wire transfer of funds,
44 or by certified, cashier's, mortgage lender's or title company's check (provided that the title company's check is
45 guaranteed by a licensed title insurance company).
47 5. CLOSING: Closing or escrow payout shall be on July 23 2010 or at such time as
48 mutually agreed upon by the Parties in writing. Closing shall take place at the title company escrow office situated
490 geographically nearest the Real Estate or as shall be agreed mutually by the Parties.
51 6. POSSESSION: Unless otherwise provided in Paragraph 39, Seller shall deliver possession to Buyer at the time of
52 Closing. Possession shall be deemed to have been delivered when Seller has vacated the Real Estate and delivered keys
53 to the Real Estate to Buyer or to Listing Office.
Buyer Initial _T� Buyer Initial Yeller Initial Seller Initial
101 -no S. C1..p...in. St_ 60tTo
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I Idt, 1caAr, L' S t A It AND LCAU -BASED PAINT' DISCLOSURES: If applicable, prior to signing
this Contract, Buyer /check one / ® has;LJ has not received a completed Illinois Residential Real Property Disclosure
Report; /check one /;®_ has,® has not received the EPA Pamphlet, "Protect Your Family From Lead in Your Home';
(check one /;® has;❑ has not received a Lead -Based Paint Disclosure.
8. PRORATIONS: Proratable items shall include, without limitation, rents and deposits (if any) from tenants, Special
Service Area tax for the year of closing only, utilities, water and sewer, and homeowner or condominium association
fees (and Master/Umbrella Association fees, if applicable). Accumulated reserves of a Homeowner /Condominium
Association(s) are not a proratable item. Seller represents that as of the Date of Acceptance Homeowner /Condominium
Association(s) fees are $ N/A Per N/A (and, if applicable, fees for a Master/Umbrella Association are
$ N/A per N/A 1. Seller agrees to pay prior to or at Closing any special assessments (governmental or
association) confirmed prior to Date of Acceptance. Installments due after the year of Closing for a Special Service Area
shall not be a proratable item. The general Real Estate taxes shall be prorated as of the date of Closing based on
100 % of the most recent ascertainable full year tax bill. All prorations shall be final as of Closing, except as
provided in Paragraph 20. If the amount of the most recent ascertainable tax bill reflects a homeowner, senior citizen or
other exemption, Seller has submitted or will submit in a timely mariner all necessary documentation to the Assessor's
Office, before or after Closing, to preserve said exemption(s).
this Contract other Oran stated Purchase Price, within five (5) Business Days after the Date ce. Disapproval
or modification of this Contract shall not be based solely upon stated ce. Any notice of disapproval or
proposed modifications) by any Party shall be in wri ' en notice is not served within the time specified, this
provision shall be deemed wai arties and this Contract shall remain in full force and effect. If prior to
the expirati Business Days after Date of Acceptance, written agreement is not reached by the Parties
governmental regulations) a home, radon, environmental, lead -based paint and/or lead -based paint hazer nless
separately waived), and/or wood destroying insect infestation inspection(s) of said Real Estate by one ore licensed
or certified inspection service(s). Buyer shall serve written notice upon Seller or Seller's ey of any defects
disclosed by the inspection(s) which are unacceptable to Buyer, together with a copy a pertinent pages) of the
report(s) within five (5) Business Days (ten (10) calendar days for a lead -based 'nt and/or lead -based paint hazard
inspection) after Date of Acceptance. If written notice is not served withi a time specified, this provision shall be
deemed waived by the Parties and this Contract shall remain in force and effect. If prior to the expiration of
ten (10) Business Days after Date of Acceptance, written eement is not reached by the Parties with respect to
resolution of inspection issues, then this Contrac a 1 be null and void. The home inspection shall cover only
major components of the Real Estate, includi t not limited to, central heating system(s), central cooling system(s),
plumbing and well system, electrical roof walls, windows, ceilings, floors, appliances and foundation. A major
component shall be deemed to b " operating condition if it performs the function for which it is intended, regardless of
age, and does not consu threat to health or safety. The fact that a functioning component may be at the end of its
useful life shall no der such component defective for the purpose of this paragraph. Buyer shall indemnify Seller
and hold Se armless from and against any loss or damage caused by the acts or negligence of Buyer or any person
perfo _ g any inspections). Buyer agrees minor repairs and routine maintenance items are not a part of this
99 — -`
100 Disclosure (see page 11). This Contract is contingent u on Bu
101 (except for matters of title o y within Buyer's a
102 --
Buyer Initial Buyer Initial Seller Initial
Address IoB- Ito
Page 2 �–
afrM wnthen mortgage commitment
on or before 20
Sellerinitial
103
104 required. The interest rate (initial rate, if applicable) shall not exceed _/o per annum, amortized over not than
105 _ years. Buyer shall pay loan origination fee and /or discount points not to exceed _% of an amount.
106 Buyer shall pay the cost of application, usual and customary processing fees and closing costs ged by lender. (If
107 FHA/VA, complete Paragraph 35.) (If closing cost credit, complete Paragraph 33.) Bu shall make written loan
108 application within five (5) Business Days after the Date of Acceptance. Failure t so shall constitute an act of
109 Default under this Contract. If Buyer, having applied for the loan specif above, is unable to obtain such loan
110 commitment and serves written notice to Seller within the time sp ' ed, this Contract shall be null and void. If
H] l written notice of inability to obtain such loan commitment is served within the time specified, Buyer shall be
112 deemed to have waived this contingency and this Con shall remain in full force and effect. Unless otherwise
113 provided in Paragraph 31, this Contract shall n e contingent upon the sale and /or closing of Buyer's existing
114 real estate. Buyer shall be deemed to have Isfied the financing conditions of this paragraph if Buyer obtains a loan
115 commitment in accordance with the s of this paragraph even though the loan is conditioned on the sale and/or
116 closing of Buyer's existing re state. If Seller at Seller's option and expense, within thirty (30) days after Buyer's
117 notice, procures for Bu ch commitment or notifies Buyer that Seller will accept a purchase money mortgage upon m
118 the sae terns, ' ontract shall remain in full force and effect. In such event, Seller shall notify Buyer within five (5)
119 Business D after Buyer's notice of Seller's election to provide or obtain such financing, and Buyer shall furnish to
120 Sell ender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to
121
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123 12. HOMEOWNER INSURANCE- This Contract is contingent upon Buyer's securing evidence of insurability for an
124 Insurance Service Organization Homeowner 3 (ISOH03) or applicable equivalent policy at Preferred Premium rates
125 within ten (10) Business Days after Date of Acceptance. If Buyer is unable to obtain evidence of insurability and
126 serves written notice with proof of same to Seller within the time specified, this Contract shall be null and void. If
127 written notice is not served within the time specified, Buyer shall be deemed to have waived this contingency and
128 this Contract shall remain in full force and effect.
129
130 13. FLOOD INSURANCE• Unless previously disclosed in the Illinois Residential Real Property Disclosure Report,
131 Buyer shall have the option to declare this Contract null and void if the Real Estate is located in a special flood hazard
132 area which requires Buyer to carry flood insurance. If written notice of the option to declare this Contract null and
133 void is not given to Seller within ten (10) Business Days after Date of Acceptance or within the term specified in
134 Paragraph 11 (whichever is later), Buyer shall be deemed to have waived such option and this Contract shall
135 remain in full force and effect. Nothing herein shall be deemed to affect any rights afforded by the Residential Real
136 Property Disclosure Act.
137
138 14, CONDOMINIUM /COMMON INTEREST ASSOCIATIONS: (If applicable) The Parties agree that the terms
139 contained in this par agraph which may be contrary to other terms of this Contract, shall supersede any conflicting terms.
140 (a) Title when conveyed shall be good and merchantable, subject to terms, provisions, covenants and conditions of
141 the Declaration of Condominium/Covenants, Conditions and Restrictions and all amendments; public and utility
142 easements including any easements established by or implied from the Declaration of Condominium/Covenants,
143 Conditions and Restrictions o; amendments thereto; party wall r ghts and agreements; limitations and conditions
144 imposed by the Condominium Property Act; installments due after the date of Closing it general assessments
145 establi shed pursuant to the Declaration of Condominium/Covenants, Conditions and Restrictions.
146 (b) Seller shall be responsible for all regular assessments due and levied prior to Closing and for all special
147 assessments confirmed prior to the Date of Acceptance.
148 (c) Buyer has, within five (5) Business Days from the Date of Acceptance, the right to demand from Seller items as
149 stipulated by the Illinois Condominium Property Act, if applicable, and Seller shall' diligently apply for same.
I50 This Contract is subject to the condition that Seller be able to procure and provide to Buyer, a release or waiver
151 of any option of first refusal or other pre - emptive rights of purchase created by the Declaration of
152 Condominium /Covenants, Conditions and Restrictions within the time t... «u, nea__ __
153
Condominium/Covenants, Conditions and Restrictions. In the event the Condominium Association requires
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154 personal appearance of Buyer and/or additional documentation, Buyer agrees to comply with same.
155 (d) In the event the documents and information provided by Seller to Buyer disclose that the existing improvements
156 are in violation of existing Hiles, regulations or other restrictions or that the ternis and conditions contained
157 within the documents would unreasonably restrict Buyer's use of the premises or would result in increased
158 financial obligations unacceptable to Buyer in connection with owning the Real Estate, then Buyer may
159 declare this Contract null and void by giving Seller written notice within five (5) Business Days after the
160 receipt of the documents and information required by Paragraph 14 (c), listing those deficiencies which
161 are unacceptable to Buyer. If written notice is not served within the time specified, Buyer shall be deemed
162 to have waived this contingency, and this Contract shall remain in full force and effect.
163 (e) Seller shall not be obligated to provide a condominium survey.
164 (f) Seller shall provide a certificate of insurance showing Buyer (and Buyer's mortgagee, if any) as an insured.
165
166 15. THE DEED: Seller shall convey or cause to be conveyed to Buyer or Buyer's designated grantee good and
167 merchantable title to the Real Estate by recordable general Warranty Deed, with release of homestead rights, (or the
168 appropriate deed if title is in trust or in an estate), and with real estate transfer stamps to be paid by Seller (unless
169 otherwise designated by local ordinance). Title when conveyed will be good and merchantable, subject only to: general
170 real estate taxes not due and payable at the time of Closing, covenants, conditions, and restrictions of record, building
171 lines and easements, if any, so long as they do not interfere with the current use and enjoyment of the Real Estate.
172
173 16. TITLE: At Seller's expense, Seller will deliver or cause to be delivered to Buyer or Buyer's attorney within
174 customary time limitations and sufficiently in advance of Closing, as evidence of title in Seller or Grantor, a title
175 commitment for an ALTA title insurance policy in the amount of the Purchase Price with extended coverage by a title
176 company licensed to operate in the State of Illinois, issued on or subsequent to the Date of Acceptance, subject only to
177 items listed in Paragraph 15. The requirement of providing extended coverage shall not apply if the Real Estate is vacant
178 land. The commitment for title insurance furnished by Seller will be conclusive evidence of good and merchantable title
179 as therein shown, subject only to the exceptions therein stated. If the title commitment discloses unpermitted exceptions,
180 or if the Plat of Survey shows any encroachments which are not acceptable to Buyer, then Seller shall have said
181 exceptions or encroachments removed, or have the title insurer commit to insure against loss or damage that may be
182 caused by such exceptions or encroachments. If Seller fails to have unpermitted exceptions waived or title insured over
183 prior to Closing, Buyer may elect to take the title as it then is, with the right to deduct from the Purchase Price prior
184 encumbrances of a definite or ascertainable amount. Seller shall furnish Buyer at Closing an Affidavit of Title covering
185 the date of Closing, and shall sign any other customary forms required for issuance of an ALTA Insurance Policy,
186
187 17. PLAT OF SURVEY: Not less than one (1) Business Day prior to Closing, except where the Real Estate is a
188 condominium (see Paragraph 14) Seller shall, at Seller's expense, furnish to Buyer or Buyer's attorney a Plat of Survey
189 dated not more than six (6) months prior to the date of Closing, prepared by an Illinois Professional Land Surveyor,
190 showing any encroachments, measurements of all lot lines, all easements of record, building set back lines of record,
191 fences, all buildings and other improvements on the Real Estate and distances therefrom to the nearest two lot lines. In
192 addition, the survey to be provided shall be a boundary survey conforming to the current requirements of the appropriate
193 state regulatory authority. The survey shall show all comers staked, flagged, or otherwise monumented. The survey shall
194 have the following statement prominently appearing near the professional land surveyor seal and signature: "This
195 professional service confonns to the current Illinois minimum standards for a boundary survey ". A Mortgage Inspection,
196 as defined, is not a boundary survey, and is not acceptable.
197
198 18. ESCROW CLOSING: At the election of either Party, not less than five (5) Business Days prior to the Closing, this
199 sale shall be closed through an escrow with the lending institution or the title company in accordance with the provisions
200 of the usual form of Deed and Money Escrow Agreement, as agreed upon between the Parties, with provisions inserted
201 in the Escrow Agreement as may be required to conform with this Contract. The cost of the escrow shall be paid by the
202 Party requesting the escrow. If this transaction is a cash purchase (no mortgage is secured by Buyer), the Parties shall
203 share the title company escrow closing fee equally.
204
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221 21. SELLER REPRESENTATIONS: Seller represents that Seller has not received written notice from any
222 Governmental body or Homeowner Association regarding (a) zoning, building, fire or health code violations that have
22' ) not been corrected; (b) any pending rezoning; (c) any pending condemnation or eminent domain proceeding; or (d) a
224 proposed or confirmed special assessment and/or Special Service Area affecting the Real Estate. Seller represents,
225 however, that in die case of a special assessment and/or Special Service Area, the following applies:
1. There [check one] is 0 is nod
® a proposed or pending unconfirmed special assessment affecting the Real
Estate not payable by Seller after date of Closing.
2. The Real Estate [check oneJ is❑ is not;® located within a Special Service Area, payments for which will
not be the obligation of Seller after date of Closing.
If any of the representations contained herein regarding non - Homeowner Association special assessment or
Special Service Area are unacceptable to Buyer, Buyer shall have the option to declare this Contract null and
void. If written notice of the option to declare this Contract null and void is not given to Seller within ten (10)
Business Days after Date of Acceptance or within the term specified in Paragraph 11 (whichever is later), Buyer
shall be deemed to have waived such option and this Contract shall remain in full force and effect. Seller further
represents that Seller has no knowledge of boundary line disputes, easements or claims of easement not shown by the
public records, any hazardous waste on the Real Estate or any improvements for which the required permits were not
obtained. Seller represents that there have been no improvements to the Real Estate which are not either included in full
in the determination of the most recent real estate tax assessment or which are eligible for home improvement tax
exemption.
19. DAMAGE TO REAL ESTATE PRIOR TO CLOSING: If, prior to delivery of the deed, the Real Estate shall be
destroyed or materially damaged by fire or other casualty, or the Real Estate is taken by condemnation, then Buyer shall
have the option of either terminating this Contract (and receiving a refund of earnest money) or accepting the Real
Estate as damaged or destroyed, together with the proceeds of the condemnation award or any insurance payable as a
result of the destruction or damage, which gross proceeds Seller agrees to assign to Buyer and deliver to Buyer at
closing. Seller shall not be obligated to repair or replace damaged improvements. The provisions of the Uniform Vendor
and Purchaser Risk Act of the State of Illinois shall be applicable to this Contract, except as modified in this paragraph.
20. REAL ESTATE TAX ESCROW: In the event the Real Estate is improved, but has not been previously taxed for
the entire year as currently improved, the sum of three percent (3 %) of the Purchase Price shall be deposited in escrow
with the title company with the cost of the escrow to be divided equally by Buyer and Seller and paid at Closing. When
the exact amount of the taxes prorated under this Contract can be ascertained, the taxes shall be prorated by Seller's
attorney at the request of either Party, and Seller's share of such tax liability after reproration shall be paid to Buyer from
the escrow funds and the balance, if any, shall be paid to Seller. If Seller's obligation after such reproration exceeds the
amount of the escrow funds, Seller agrees to pay such excess promptly upon demand.
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22. CONDITION OF REAL ESTATE AND INSPECTION: Seller agrees to leave the Real Estate in broom clean
condition. All refuse and personal property that is not to be conveyed to Buyer shall be removed from the Real Estate at
Seller's expense before possession. Buyer shall have the right to inspect the Real Estate, fixtures and personal property
prior to possession to verify that the Real Estate, improvements and included personal property are in substantially the
same condition as of the Date of Acceptance, normal wear and tear excepted.
23. GOVERNMENTAL COMPLIANCE: Parties agree to comply with the reporting requirements of the applicable
sections of the Internal Revenue Code and the Real Estate Settlement Procedures Act of 1974, as amended.
24. BUSINESS DAYS/HOURS: Business Days are defined as Monday through Friday, excluding Federal holidays.
Business Hours are defined as 8:00 A.M. to 6:00 P.M. Chicaeo time.
25. FACSIMILE: Facsimile signatures shall be sufficient for purposes of executing, negotiating, and finalizing this
Contract.
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255 26. DIRECTION TO ESCROWEE: In every instance where this Contract shall be deemed null and void or if this
256 Contract may be terminated by either Parry, the following shall be deemed incorporated: "and earnest money refunded to
257 Buyer upon written direction of the Parties to Escrowee or upon entry of an order by a covet of competent jurisdiction ".
258
259 27. NOTICE: All Notices, except as provided otherwise in Paragraph 31(C) (2), shall be in writing and shall be served
260 by one Party or attorney to the other Patty or attorney. Notice to any one of a multiple person Party shall be sufficient
261 Notice to all. Notice shall be given in the following manner:
262 (a) By personal delivery of such Notice; or
263 (b) By mailing of such Notice to the addresses recited herein by regular mail and by certified mail, return receipt
264 requested. Except as otherwise provided herein, Notice served by certified mail shall be effective on the date of
265 mailing; or
266 (c) By sending facsimile transmission. Notice shall be effective as of date and time of facsimile transmission,
267 provided that the Notice transmitted shall be sent on Business Days during Business Hours. In the event fax
268 Notice is transmitted during non - business hours, the effective date and time of Notice is the first hour of the next
269 Business Day after transmission; or
270 (d) By sending e-mail transmission. Notice shall be effective as of date and time of e-mail transmission, provided
271 that the Notice transmitted shall be sent during Business Hours, and provided further that the recipient provides
272 written acknowledgment to the sender of receipt of the transmission (by e-mail, facsimile, regular mail or
273 commercial overnight delivery). In the event e-mail Notice is transmitted during non - business hours, the
274 effective date and time of Notice is the first hour of the next Business Day after transmission; or
275 (e) By commercial overnight delivery (e.g., FedEx). Such Notice shall be effective on the next Business Day
276 following deposit with the overnight delivery company.
277
278 28. PERFORMANCE: Time is of the essence of this Contract. In any action with respect to this Contract, the Parties
279 are free to pursue any legal remedies at law or in equity and the prevailing Party in litigation shall be entitled to collect
280 reasonable attorney fees and costs from the non - Prevailing Party as ordered by a court of competent jurisdiction. There
281 shall be no disbursement of earnest money unless Escrowee has been provided written agreement from Seller and Buyer.
282 Absent an agreement relative to the disbursement of earnest money within a reasonable period of time, Escrowee may
283 deposit funds with the Clerk of the Circuit Court by the filing of an action in the nature of interpleader. Escrowee shall
284 be reimbursed from the earnest money for all costs, including reasonable attorney fees, related to the filing of the
285 interpleader action. Seller and Buyer shall indemnify and hold Escrowee harmless from any and all conflicting claims
286 and demands arising under this paragraph.
287
288 29. CHOICE OF LAW /GOOD FAITH: All terms and provisions of this Contract including, but not limited to, the
289 Attorney Review and Professional Inspection paragraphs, shall be governed by the laws of the State of Illinois and are
290 subject to the covenant of good faith and fair dealing implied in all Illinois contracts.
291
292 30. OTHER PROVISIONS: This Contract is also subject to those OPTIONAL PROVISIONS selected for use and
293 initialed by the Parties which are contained in the following paragraphs and attachments, if any: T•4, &&v- 4, C60
294 Est i. Cr.L ..k �.r t1.a S.1a ei 108• tlo 9.+.>t:. Lhv n..' . Sbu� E t IS3mi_a�41� ^y_.
295 ait&4%%A br.aku%61 t- tae[[wwK }.A rate oak P% alt 0. tz* p
296 THE FOLLOWING OPTIONAL PROVISIONS APPLY ONLY IF INITIALED BY ALL PARTIES
297
298 31. SALE OF BUYER'S REAL ESTATE:
299 Initials
300 (A) REPRESENTATIONS ABOUT BUYER'S REAL ESTATE: Buyer represents to Seller as follows:
301 (1) Buyer owns real estate commonly known as (address):
302
303 (2) Buyer [check one(; ❑ has; ❑ has not entered into a contract to sell said real estate. If Buyer has entered into a contract to
304 sell said real estate, that contract
305 (a) [dieck one] ❑ isj❑ is not subject to a mortgage contingency.
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306 (b) [dreck onel ;® is,❑ is not subject to areal estate sale contingency.
307 (c) [dreck oriel ;❑ isj ❑ is not subject to areal estate closing contingency.
308 (3) Buyer (chuck onel;❑ hash has not listed said real estate for sale with a licensed real estate broker and in a local
309 multiple listing service.
310 (4) if Buyer's real estate is not listed for sale with a licensed real estate broker and in a local multiple listing service,
311 Buy er(cheekonel
312 (a) ;❑ Shall list said real estate for sale with a licensed real estate broker who will place it in a local multiple listing
313 service within five (5) Business Days after the Date of Acceptance.
314 For information only: Broker:
315 Broker's Address: Phone:
316 (b) 1_3 Does not intend to list said real estate for sale.
317 (B) CONTINGENCIES BASED UPON SALE AND /OR CLOSE OF BUYER'S REAL ESTATE:
318 (1) This Contract is contingent upon Buyer having entered into a contract for the sale of Buyer's real estate drat is in full force
319 and effect as of 20 . Such contract shall provide for a closing date not later than the Closing
320 Date set forth in this Contract. If written notice is served on or before the date set forth in this subparagraph that
321 Buyer has not procured a contract for the sale of Buyer's real estate, this Contract shall be null and void. If written
322 notice that Buyer has not procured a contract for the sale of Buyer's real estate is not served on or before the close
323 of business on the date set forth is this subparagraph, Buyer shall be deemed to have waived all contingencies
324 contained in this Paragraph 31, and this Contract shall remain in full force and effect. (If this paragraph is used, then
325 the following paragraph must be completed.)
326 (2) In the event Buyer has entered into a contract for the sale of Buyer's real estate as set forth in Paragraph 31 (B) (1) and that
327 contract is in full force and effect, or has entered into a contract for sale of Buyer's real estate prior to the execution of this
328 Contract, this Contract is contingent upon Buyer closing the sale of Buyer's real estate on or before
329 20_ If written notice that Buyer has not closed the sate of Buyer's real estate is
330 served before the dose of business on the next Business Day after the date set forth in the preceding sentence, this
331 Contract shall be null and void. If written notice is not served as described in the preceding sentence, Buyer shall be
332 deemed to have waived all contingencies contained in this Paragraph 3I, and this Contract shall remain in full force
333 and effect.
334 (3) If the contract for the sale of Buyer's real estate is terminated for any reason after the date set forth in Paragraph 31 (B) (1)
335 (or after the date of this Contract if no date is set forth in Paragraph 31 (B) (1)), Buyer shall, within three (3) Business Days
336 of such termination, notify Seller of said termination. Unless Buyer, as part of said notice, waives all contingencies in
337 Paragraph 31 and complies with Paragraph 31 (D), this Contract shall be null and void as of the date of notice. If
338 written notice as required by this subparagraph is not served within the time specified, Buyer shalt be in default
339 under the terms of this Contract.
340 (C) SELLER'S RIGHT TO CONTINUE TO OFFER REAL ESTATE FOR SALE: During the time of this contingency, Seller
341 has the right to continue to show the Real Estate and offer it for sale subject to the following:
342 (1) If Seller accepts another bona fide offer to purchase the Real Estate while the contingencies expressed in subparagraph (B)
343 are in effect, Seller shall notify Buyer in writing of same. Buyer shall then have hours after Seller gives such
344 notice to waive the contingencies set forth in Paragraph 31 (B), subject to Paragraph 31 (D).
345 (2) Seller's notice to Buyer (commonly referred to as a "kick -oat" notice) shall be served on Buyer, not Buyer's
346 attorney or Buyer's real estate agent. Courtesy copies of such "kick -out" notice should be sent to Buyer's attorney and
347 real estate agent, if known. Failure to provide such courtesy copies shall not render notice invalid. Notice to any one of a
348 multiple- person Buyer shall be sufficient notice to all Buyers. Notice for the purpose of this subparagraph only shall be
349 served upon Buyer in the following manner:
350 (a) By personal delivery of such notice effective at the time and date of personal delivery; or
351 (b) By mailing of such notice to the addresses recited herein for Buyer by regular mail and by certified mail. Notice
352 served by regular mail and certified mail shall be effective at 10:00 A.M on the morning of the second day following
353 deposit of notice in U.S. Mail; or
354 (c) By commercial overnight delivery (e.g., FedEx). Such notice shall be effective upon delivery or at 4:00 P.M Chicago
355 time on the next delivery day following deposit with the overnight delivery company, whichever first occurs.
356 (3) If Buyer complies with the provisions of Paragraph 31 (D) then this Contract shall remain in full force and effect,
357 (4) If the contingencies set forth in Paragraph 31 (B) are NOT waived in writing within said time period by Buyer, this
358 Contract shall be null and void.
359 (5) Except as provided in subsections to subparagraph (C) (2) above, all notices shall be made in the manner provided by
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385 _ _ _ 35. VA OR FHA FINANCING: If Buyer is seeking VA or FHA financing, this provision shall be applicable:
386 Buyer may terminate this Contract if the Purchase Price set forth herein exceeds the appraised value of the Real Estate, as
387 determined by the Veterans Administration (VA) or the Federal Housing Administration (FHA). However, Buyer shall have the
388 option of proceeding with this Contract without regard to the amount of the appraised valuation. If VA, the Funding Fee, or if FHA,
the Mortgage Insurance Premium (MIP) shall be paid by Buyer and /dice* one /'t 0 sitaAJ shall not be added to the mortgage
loan amount Seller agrees to pay additional miscellaneous expenses required by lender not to exceed $200.00. Required FHA or
VA amendments shall be attached to this Contract It is expressly agreed that notwithstanding any other provisions of this
Contract, Buyer shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture
of earnest money deposits or otherwise unless Buyer has been given, in accordance with HUD/FHA requirements, a written
statement by the Federal Housing Commissioner setting forth the appraised value of the property (excluding Closing costs) of not
less than $ . Buyer shall have the privilege and option of proceeding with the consummation of the
Contract without regard to the amount of the appraised valuation. The appraised valuation is arrived at to determine the maximum
mortgage the Department of Housing and Urban Development will insure /guarantee. HUD and the mortgagee do not warrant the
value nor the condition of the property. Buyer should satisfy himself/herself that the price and condition of the property are
acceptable.
Paragraph 27 of this Contract
(6) Buyer waives any ethical objection to the delivery of notice under this paragraph by Seller's attorney or representative.
(D) WAIVER OF PARAGRAPH 31 CONTINGENCIES: Buyer shall be deemed to have waived die contingencies in Paragraph
31 (B) when Buyer has delivered written waiver and deposited with the Escrowee the additional sum of $
earnest money within the time specified. If Buyer fails to deposit the additional earnest money within the time specified, the
waiver shall be deemed ineffective and this Contract shall be null and void.
(E) BUYER COOPERATION REQUIRED: Buyer authorizes Seller or Seller's agent to verify representations contained in
Paragraph 31 at any time, and Buyer agrees to cooperate in providing relevant information.
32. CANCELLATION OF PRIOR REAL ESTATE CONTRACT: In the event either Party has entered
into a prior real estate contract, this Contract shall be subject to written cancellation of the prior contract on or before
20 . In the event the prior contract is not cancelled within the time specified, this Contract shall be
null and void. Notice to the purchaser under the prior contract should not be served until after Attorney Review and
Professional Inspections provisions of this Contract have expired, been satisfied or waived.
_ _ _ 33. CLOSING COST CREDIT: Provided Buyer's lender permits such credit to show on the 14UD•1
. Settlement Statement, and if not, such lesser amount as the lender permits, Seller agrees to credit to Buyer
34. INTEREST BEARING ACCOUNT: Earnest money (with a completed W -9 and other required forms),
shall be held in a federally insured interest bearing account at a financial institution designated by Escrowee. All interest earned on
the earnest money shall accrue to the benefit of and be paid to Buyer. Buyer shall be responsible for any administrative fee (not
to exceed $100) charged for setting up the account. In anticipation of Closing, the Parties direct Escrowee to close the account no
sooner than ten (10) Business Days prior to the anticipated Closing date.
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36. INTERIM FINANCING: This Contract is contingent upon Buyer obtaining a written commitment for
interim financing on or before 20_ in the amount of $ . If Buyer is unable
to secure the interim fmancing commitment and gives written notice to Seller within the time specified, this Contract shall be
null and void. If written notice is not served within the time specified, this provision shall be deemed waived by the Parties
and this Contract shall remain in full force and effect.
37. WELL AND /OR SEMC/SANTPARY INSPECTIONS: Seller shall obtain at Seller's expense a well
water test stating that the well delivers not less than five (5) gallons of water per minute and including a bacteria and nitrate test (and
lead test for FHA loans) and /or a septic report from the applicable County Health Department, a Licensed Environmental Health
Practitioner, or a licensed well and septic inspector, each dated not more than ninety (90) days prior to Closing, stating that the well
and water supply and the private sanitary system are in proper operating condition with no defects noted. Seller shall remedy any
defect or deficiency disclosed by said report(s) prior to Closing; provided that if the cost of remedying a defect or deficiency and the
cost of landscaping together exceed $3,000.00, and if the Parties cannot reach agreement regarding payment of such additional cost,
then this Contract may be terminated by either Party. Additional testing recommended by the report shall be obtained at Seller's
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428 ___ 39. POST - CLOSING POSSESSION: Possession shall be delivered no later than 11:59 P.M. on the date that
429 s days after the date of Closing ( "the Possession Date"). Seller shall be responsible for all utilities, contents and liability
430 insurance, and home maintenance expenses until delivery of possession. Seller shall deposit in escrow at Closing
with , !choose one] i❑ one percent (1 %) of the Purchase Price or 0 the sum of $
to be paid by Escrowee as follows: a) The sum of $ per day for use and occupancy from and including the
day after Closing to and including the day of delivery of possession, if on or before the Possession Date, b) The amount per day
equal to five (5) times the daily amount set forth herein shall be paid for each day after the Possession Date specified in this
paragraph that Seller remains in possession of the real estate, and c) The balance, if any, to Seller after delivery of possession and
provided that the terms of Paragraph 22 have been satisfied. Seller's liability under this paragraph shall not be limited to the amount
of the possession escrow deposit referred to above. Nothing herein shall be deemed to create a Landlord/Tenant relationship
between the Parties.
expense. If the report recommends additional testing after Closing, the Parties shall have the option of establishing an escrow with a
mutual cost allocation for necessary repairs or replacements, or either Party may terminate this Contract prior to Closing. Seller shall
deliver a copy of such evaluation(s) to Buyer not less than one (1) Business Day prior to Closing.
_ _ 38. WOOD DESTROYING INFESTATION: Notwithstanding the provisions of Paragraph 10, within ten
(10) Business Days after the Date of Acceptance, Seller at Seller's expense shall deliver to Buyer a written report, dated not more
than six (6) months prior to the date of Closing, by a licensed inspector certified by the appropriate state regulatory authority in the
subcategory of termites, stating that there is no visible evidence of active infestation by termites or other wood destroying insects.
Unless otherwise agreed between the Parties, if the report discloses evidence of active infestation or structural damage, Buyer has
the option within five (5) Business Days of receipt of the report to proceed with the purchase or declare this Contract null and void.
This paragraph shall not apply to condominiums or to newly constructed property having been occupied for less than one year
following completion of construction.
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_ _ _ 40. "AS IS" CONDITION: This Contract s for the sale and purchase of the Real Estate and personal
property in its "As Is" condition as of the Date of Offer. Buyer acknowledges that no representations, warranties or guarantees with
respect to the condition of the Real Estate and personal property have been made by Seller or Seller's Agent other than those known
defects, if any, disclosed by Seller. Buyer may conduct an inspection at Buyer's expense. In that event, Seller shall make the
Property available to Buyer's inspector at reasonable times. Buyer shall indemnify Seller and hold Seller harmless from and against
any loss or damage caused by the acts or negligence of Buyer or any person performing any inspection(s). In the event the
inspection reveals that the condition of the improvements, futures or personal property to be conveyed or transferred is
unacceptable to Buyer and Buyer so notifies Seller within five (5) Business Days after the Date of Acceptance, this Contract
shall be null and void. Failure of Buyer to notify Seller or to conduct said inspection operates as a waiver of Buyer's right to
terminate this Contract under this paragraph and this Contract shall remain in full force and effect. Buyer acknowledges the
provisions of Paragraph 10 and the warranty provisions of Paragraph 3 do not apply to this Contract.
41. CONFIRMATION OF DUAL AGENCY: The Parties confirm that they have previously consented to
on their behalf and specifically consent to Licensee acting as a Dual LAgent with regard t the transaction referred to nthis gContra�
456 42. SPECIFIED PARTY APPROVAL: This Contract is contingent upon the approval of the Real Estate by
457 — — —
Buyer's specified party,
58 within five (5) Business Days after the Date of Acceptance. In the event Buyer's specked party does not approve of the Real
459 Estate and written notice is given to Seller within the time specified, this Contract shall be null and void. If written notice is
460 not served within the time specified, this provision shall be deemed waived by the Parties and this Contract shall remain in
461 full force and effect.
462
463 _ _/ _ 43. MISCELLANEOUS PROVISIONS: Buyer's and Seller's obligations are contingent upon the Parties
464 entering into a separate written agreement consistent with the terms and conditions set forth herein, and with such additional teens
465 as either Party may deem necessary, providing for one or more of the following: (check applicable bos(ex)l
466 ❑ Assumption of Seller's Mortgage ❑ New Construction
467 ❑ Commercial/Investment/Starker Exchange ❑ Vacant Land
468 ❑ Cooperative Apartment
❑ Articles of Agreement forDeedorPurchaseMoneyMortgage
Buyer Initial Buyer Initial Seller Initial Seller Initial
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THIS DOCUMENT WILL BECOME A LEGALLY BINDING CONTRACT WHEN SIGNED BY ALL
PARTIES AND DELIVERED TO THE PARTIES OR THEIP
The Parties represent that text of this form has not been altered t\ \�N Board Residential
Real Es ate Contract 4.0.
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02006, Illinois Real Estate Lawyers Association. All rights reserved. Unauthorized duplication or alteration of this form or any
portion thereof is prohibited. Official form available at www.reallaw.org (web site of Illinois Real Estate Lawyers Association).
509 Approved by the following organizations February 2006.
510 Illinois Real Estate Lawyers Association, Aurora Tri -County Association of REALTORS®, Chicago Association of REALTORS°A,
511 DuPage County Bar Association, Kane County Bar Association, Lake County Bar Association, McHenry County Association of
512 REALTORS, North Shore*- Barrington Association of REALTORS®, Northwest Suburban Bar Association, Oak Park Board of
513 REALTORS REALTOR Association of the Fox Valley, REALTOR® Association of the Northwest Chicagoland, REALTOR®
514 Association of West/South Suburban Chicagoland, Three Ravers Association of REALTORS®, West Towns Board of REALTORS*
515
516
517 *helmutgerlach @sbcglobal.net
518
519
520 Seller Rejection: This offer was presented to Seller on 20 at lkwpM
521 andrejectedon 20_at_:�� M
523 PDF Version 4.0.2 - 5/2/06
Buyer Initial ? Buyer Initial _ Seller Initial
Address V toA_un Q f�r_- ¢.
Page 10
Seller Initial
RIDER TO REAL ESTATE CONTRACT FOR THE SALE OF
108 -110 SOUTH CHANNING STREET, ELGIN, ILLINOIS 60120
Jlit / This Rider to the real estate contract is made and entered into this day of IJ 2010, by and between the City of Elgin, Illinois, an Illinois municipal
corpora ion, (hereinafter alternatively referred to as the "Seller" and the "City ") and Habitat For
Humanity of Northern Fox Valley, an Illinois not - for -profit corporation (hereinafter referred to
as the "Buyer ").
WITNESSETH:
WHEREAS, the Seller is currently the owner of the property commonly known as 108-
110 South Charming Street, Elgin, Illinois 60120 (hereinafter referred to as the "Subject
Property"); and,
WHEREAS, Seller and Buyer are concurrently with the entry into this Rider entering into
a real estate contract providing for the sale of the Subject Property from the Seller to the Buyer
(such contract is hereinafter referred to as the "Subject Contract "); and,
WHEREAS, the parties wish to set forth further agreements between them regarding the
sale of the Subject Property into the Subject Contract and incorporate this Rider into the Subject
Contract.
NOW, THEREFORE, for and in consideration of the mutual undertakings in the Subject
Contract, the undertakings in this Rider, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1. The provisions of Section 40 of the Subject Contract, entitled "`As Is' Condition,"
is and shall be included as part of the Subject Contract, it being agreed and understood that the
Subject Property is being sold and conveyed by the Seller to the Buyer in "as is" condition and
that Seller will not be making any repairs nor providing any credit for repairs to the Buyer.
2. Following the purchase of the Subject Property from the Seller, the Buyer agrees
to rehabilitate and renovate the Subject Property in accordance with the terms, conditions and
provisions of a further agreement between the parties entitled "Neighborhood Stabilization
Program Agreement between the City of Elgin and Habitat for Humanity of Northern Fox Valley
to Rehabilitate and Sell 108 -110 South Charming Street, Elgin, Illinois 60120" said agreement
being incorporated herein by this reference (hereinafter referred to as the "Development
Agreement "). For the purpose of clarification, and without limiting the alterations and
renovations provided for or described in the Development Agreement, Buyer agrees that the
renovation of the Subject Property will include, but not be limited to, the restoration of the
Subject Property to its original use as a single - family residence.
3. Notwithstanding anything to the contrary in this agreement, it is expressly agreed
and understood by the Buyer that in performance of this contract and the rehabilitation of the
Subject Property that the Buyer shall also comply with all applicable federal, state, city and other
requirements of law.
4. The deed of conveyance conveying the Subject Property from the City to the
Buyer shall contain a provision making such conveyance subject to the terms and obligations of
the Development Agreement. The deed of conveyance conveying the Subject Property from the
City to the Buyer shall also contain deed restrictions as set forth in Section IVY of the
Development Agreement. In the event of a default with respect to one or more of the conditions
above, and /or in the event the Buyer otherwise breaches the terms of this agreement or the
Development Agreement, which default has not been cured within thirty (30) days after receipt
of written notice of such default, the City may file suit within the Circuit Court for the Sixteenth
Judicial Circuit, Kane County, Illinois, for a determination that the conditions have been violated
and /or the Buyer has so breached this Agreement or the Development Agreement, and may then
pursue any and all available remedies at law, equity or otherwise including but not limited to
providing a judgment and terminating the Buyer's rights in and to the Subject Property and
require that conveyance back to the City of the Buyer's rights, title and /or interest in and to the
Subject Property for the original price paid by the Buyer to the City, free and clear of all rights of
the Buyer and any other person or entity.
5. Time is of the essence of this Agreement.
6. The failure by a party to enforce any provisions of this Agreement against the
other party shall not be deemed a waiver of the right to do so thereafter.
7. This Agreement is and shall be deemed and construed to be a joint and collective
work product of the City and the Buyer, and, as such, this Agreement shall not be construed
against the other party, as the otherwise purported drafter of same, by any court of competent
jurisdiction in order to resolve any inconsistency, ambiguity, vagueness or conflict, if any, in the
terms and provisions contained herein.
8. This Agreement shall be binding on the parties hereto and their respective
successors and permitted assigns. This Agreement and the obligations herein may not be
assigned without the express written consent of each of the parties hereto, which consent may be
withheld at the sole discretion of either of the parties hereto.
9. This Agreement is not intended and shall not be deemed or construed to create an
employment, joint venture, partnership or other agency relations between the parties hereto.
10. Buyer shall not encumber, sell, convey or otherwise transfer their interest in the
Subject Property prior to Buyer having completed the rehabilitation of the Subject Property and
prior to the issuance of a letter of completion and compliance by the City confirming same.
11. The City and Buyer hereby expressly agree on behalf of themselves and their
successors, assigns and grantees of the Subject Property that the non - conforming two unit use of
the Subject Property has been abandoned, is null and void and that the lawful use of the Subject
Property is and shall be as a single - family residence. Buyer and Buyer's successors and assigns
-2-
shall maintain and use the Subject Property solely and only as a lawful, conforming single -
family residential property in compliance with all applicable ordinances and requirements of law.
12. Venue for the resolution of any disputes or the enforcement of any rights arising
out of or in connection with this Agreement shall be in the Circuit Court of Kane County,
Illinois. In no event shall the City be liable for monetary damage to the Buyer for any reason,
including, but not limited to, compensatory, consequential or incidental damages or attorney's
fees. Notwithstanding anything to the contrary in this Agreement, with the sole exception of the
grant monies the City has agreed to pay pursuant to the Development Agreement, no action shall
be commenced by the Buyer or any of its successors, assigns or grantees against the City for
monetary damages.
13. The terms of this Agreement shall be severable. In the event that any of the terms
or provisions of this agreement are deemed to be void or otherwise unenforceable for any reason,
the remainder of this agreement shall remain in full force and effect.
14. This Agreement shall not be modified or amended other than by written
agreement of the parties hereto.
15. This Rider is incorporated into and made part of the Subject Contract. In the
event of any conflict between the terms of this Rider and the terms of the Subject Contract, the
terms of this rider shall control. All the obligations of the parties under this Rider to the Subject
Contract shall be deemed remade as of the closing and shall survive the closing, and the
remedies for breach thereof shall survive the closing and shall not be merged into the closing
documents.
IN WITNESS WHEREOF, Seller and Buyer have entered into and executed this Rider to
as of the date and year first written above.
SELLER:
CI1 31) S`C
ILLS lS 4�1V
BY ZK& t 10-LT
Attest:
City Clerk
BUYER:
HABITAT FOR HUMANITY OF
NORTHERN FOX VALLEY
akb6tk
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F:1Legal Dept \Real Estate\NSP \108 -10 South Charming \Sale to Habitat For Humanity\Rider - Sale of 108 -110 S
Charming to HFH.doc
-3-
EXHIBIT B
Scope of Work for 108 -110 S. Channing Street
Exterior Rehabilitation:
1. Repair windows as needed
a. Replace ropes, locking hardware, glazing putty, broken glass, caulk, etc.
b. Install new double -track anodized aluminum storm windows
2. Remove paint from masonry and restore /tuck point masonry
3. Replace metal roof with 30 yr, architectural shingles or repair /restore metal roof
4. Restore side porch
a. Remove flat roof with railing: replace with sloped roof
b. Replace columns, railings and newel post
c. Replace front steps
d. Replace skirting
5. Restore front porch
a. New columns, handrails and newel post
b. Replace steps
c. Replace skirting
6. Replace double entry front doors
a. Install full view storm doors
7. Repair side and rear entry doors
a. Install full view storm doors
8. Scrape and paint all wood surfaces
9. Remove landscaping timbers from treebank
10. Re- landscape flower bed at front of house
11. Repair garage as needed and replace overhead garage door
12. Replace gutters and downspouts
13. Remove back room addition
a. Install a deck; same footprint or smaller
Interior Rehabilitation
1. Return house to single family use
2. Update all electrical, plumbing, and mechanical systems. New HVAC to be energy
efficient.
3. Existing trim/doors
a. Remove, strip, paint and reinstall
OR
b. Replace to match
4. Insulation
a. Remove plaster walls and install batt insulation
OR
b. Blow -in from interior (holes cut along top of wall)
5. Kitchen/Baths
a. Solid surface counter tops or laminate
b. Tile floors
6. As much usable, material removed as possible should be donated to Restore
7. Energy efficient appliances
8. Tankless water heater OR 40 gallon with blanket
9. Wrap all exposed ductwork and piping
10. Refinish wood floors if possible
11. Energy efficient light fixtures/bulbs
12. Conduct all necessary environmental remediation, including:
a. Asbestos
b. Mold
c. Lead -based paint
Habitat for Humanity of Northern Fox Valley
108 S. Charming
Est. Cost
1451 - Equipment and Tool Rental
1,700.00
1452 - Equipment and Tool Purchase
750.00
1454 - Performance Bonds
0.00
1455 - Plans, Blueprints
2,500.00
1456 - Permits
3,500.00
1457 - Survey
750.00
1458 - Excavation
1,000.00
1459 - Real Estate Taxes
6,500.00
1460 - Temporary Utilities
2,000.00
1461 - Foundation Material
0.00
1462 - Foundation Labor
0.00
1463 - Septic, Sewer, Water
2,000.00
1464 - Walks, Drives, Materials
2,000.00
1465 - Walks, Drive Labor
2,000.00
1466 - Framing Material
9,000.00
1467 - Exterior Package Material
6,000.00
1468 - Exterior Package Labor
7,500.00
1469 - Siding
0.00
1470 - Truss Package
0.00
1471 - Roof Material
3,500.00
1472 - Roof Labor
5,500.00
1473 - Plumbing Material
4,500.00
1474 - Plumbing Labor
4,000.00
1475 - Electrical Material/1487
8,000.00
1476 - HVAC Material
7,000.00
1477- HVAC Labor
4,000.00
1478 - Doors and Windows /1479 H
10,000.00
1479 - Hardware - Doors
11500.00
1480 - Insulation Material
7,500.00
1481 - Sheetrock Material
3,000.00
1482 - Sheetrock Labor
2,500.00
1483 - Stairs
500.00
1484 - Interior Trim Package
1,750.00
1485 - Cabinet Material
4,500.00
1486 - Flooring Material
4,000.00
1487 - Lighting Fixtures
1,000.00
1488 - Paint
1,000.00
1489 - Appliances
1,500.00
1490 - Landscape
1,500.00
1491 - Shed (Optional)
0.00
1492 - Misc Construction Expense
1,000.00
1493 - Deck, Porch, Patio
2,500.00
1494 - Garage as required
5,000.00
1496 - Asbestos, Lead, Mold Abatement & Other Contract Labor
10,000.00
1498 - Purchase Home Rehab
0.00
142,450.00
TOTAL
142,450.00
847- 836 -1432 20 S. Grove, Suite 201 Carpentersville, IL 60110 w .hfhnfv.org