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18-91
Resolution No. 18-91 RESOLUTION AUTHORIZING EXECUTION OF A REAL ESTATE CONTRACT FOR THE PURCHASE OF 658 MCBRIDE STREET BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that pursuant to Elgin Municipal Code Section 5.02.020B(9) the City Council hereby finds that an exception to the requirements of the procurement ordinance is necessary and in the best interest of the city; and BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that Richard G. Kozal, City Manager, be and is hereby authorized and directed to execute a real estate contract on behalf of the City of Elgin with the Robert O. Werrbach Trust for the purchase of the property commonly known as 658 McBride Street for $120,000.00, a copy of which is attached hereto and made a part hereof by reference. s/David J. Kaptain David J. Kaptain, Mayor Presented: August 22, 2018 Adopted: August 22, 2018 Omnibus Vote: Yeas: 8 Nays: 0 Attest: s/Kimberly Dewis Kimberly Dewis, City Clerk PEA,TOq MULTI BOARD RESIDENTIAL REAL ESTATE CONTRACT 6.0 1 1. THE PARTIES: Buyer and Seller are hereinafter referred to as the "Parties". 2 Buyer Names)[please print] City of Elgin, an Illinois municipal corporation 3 Seller Name(s) [please print] Robert O. Werrbach Trust, Owner of Record 4 If Dual Agency Applies, Complete Optional Paragraph 31. 5 2. THE REAL ESTATE: Real Estate shall be defined as the property, all improvements, the fixtures and Personal 6 Property included therein. Seller agrees to convey to Buyer or to Buyer's designated grantee, the Real Estate 7 with approximate lot size or acreage of 5200 sq. ft. per survey commonly known as: 8 658 McBride Street, Elgin, Illinois 60120 9 Address City State zip 10 Kane 06-11-401-012 11 County Unit#(If applicable) Permanent Index Number(s)of Real Estate 12 If Condo/Coop/Townhome Parking is Included: #of spaces(s) ; identified as Space(s) # 13 [check type] ❑ deeded space, PIN: ❑ limited common element❑ assigned space. 14 3. PURCHASE PRICE:The Purchase Price shall be$ 120,000 . After the payment of 15 Earnest Money as provided below, the balance of the Purchase Price, as adjusted by proration, shall be paid at 16 Closing in "Good Funds" as defined by law. 17 4. EARNEST 101014-5-y- 12-m-14-neyghetil be held in trust for the mutual beftefit of the Parties by teheekend! 48 8 Sell-�F'Q Rnqkerage;9 Buyer's Brokerage;Q As otherwise agmed by the Partieg,as„ 413 1M;}: nest Money oshall be fe dered to Eserewee on or before day(s)--a€ter Date- 20 ate20 of Aeeeptanee,Addifionalrn 1 Money ef-$ shall be tendered by _ 21 5. FIXTURES AND PERSONAL PROPERTY AT NO ADDITIONAL COST: All of the fixtures and included Personal 22 Property are owned by Seller and to Seller's knowledge are in operating condition on the Date of Acceptance, 23 unless otherwise stated herein. Seller agrees to transfer to Buyer all fixtures, all heating, electrical, plumbing, 24 and well systems together with the following items of Personal Property at no additional cost by Bill of Sale at 25 Closing[Check or enumerate applicable items]: 26 —Refrigerator _Central Air Conditioning —Central Humidifier `�Light Fixtures,as they exist 27 -Oven/Range/Stove _Window Air Conditioner(s) _Water Softener(owned) _✓Built-iri or attached shelving 28 Microwave _Ceiling Fan(s) _Sump Pump(s) ✓AM window Treatrr, i&Hardware 29 _Dishwasher _Intercom System _Electronic or Media Air Filter(s) _✓Existing Storms and Screens 30 _Garbage Disposal _Backup Generator System _Central Vac&Equipment _Fireplace Screens/Doors/Grates 31 _Trash Compactor _Satellite Dish _Security System(s)(owned) _Fireplace Gas Log(s) 32 _Washer _Outdoor Shed _Garage Door Opener(s) _Invisible Fence System,Collar&Box 33 _Dryer _✓Planted Vegetation with all Transmitters _ Smoke Detectors 34 _Attached Gas Grill _Outdoor Play Set(s) ✓ All Tacked Down Carpeting _Carbon Monoxide Detectors 35 Other Items Included at No Additional Cost: 36 37 Items Not Included: 38 39 Seller warrants to Buyer that all fixtures, systems and Personal Property included in this Contract shall be in 40 operating condition at Possession except: 41 A system or item shall be deemed to be in operating condition if it performs the function for which it is 42 intended,regardless of age, and does not constitute a threat to health or safety. 43 If Home Warranty will be provided, complete Optional Paragraph 34. Buyer Initial fe�74: er Initial Seller Initial 15: G (seller Initial Address: 658 McBride Street, Elgin, Illinois 60120 _ v6.0 Page 1 of 13 �' 44 6. CLOSING: Closing shall be on September 20 , 20 18 or at such time as mutually agreed by the 45 Parties in writing.Closing shall take place at the escrow office of the title company (or its issuing agent) that will 46 issue the Ow'ner's Policy of Title Insurance,situated nearest the Real Estate or as shall IN-agreed mutually by the Parties. 47 7. POSSESSION: Unless otherwise provided in Paragraph 40,Seller shall deliver possession to Buyer at Closing. 48 Possession shall be deemed to have been delivered when Seller has vacated the Real Estate and delivered keys 49 to the Real Estate to Buyer or to the office of the Seller's Brokerage. 50 S. -MORTGAGE—CONTINGENCY.ff--#his-#nri c im-is-NOT-C-ONqINGOgT-aN-FINANC-NG;Opbon %affaph-35-a R 54 Pmgraph%bRAUS'-T-BE-13SB If-any-portion-of-Parngraph36 is sed;th p CA13Lf; 52 TTI;is C-entT--acHa-eontirge -upon-Bayer-ebteitm3g o [dtecl-oree]U fined;U edjusttrble €check etre]IItonventicmial; 53 i3 F A f-F14ANA-ise oxen,aniTplet f aragrepir32-};Q other, lean for W6 54 interest rate (initial rate if an S-5 adjustable ra#e mortgage uyedl-no#toeceeed W-re"tttrttM, al ized ever-not4ess4han Years'. 56 pent#s rtoto-e*eeed %-of-thele 57 ,- customary-proe�sing-fee", nd-eJoaing-ees#s- htatged-bv ienden 58 (Gorrtple#e-Pah 35z€el�ntg-east ereAi#s apply}-Buyer-Shall rtjtrke g=rit#ert-lean-applit�3#it�ri-�vi#hht €ive{�3 55 Business-L fte _am._d by the 60 tenderno !ater tltar+ tert{�9}-&tsiness-0ays a€ter the Hat e-do-4o 971-��skAn.#�. 61 act-of-Def-ault-trader-this C-on#raet: 62 If Buyers having appl �d-fer-Ike lean spc ei€ie- a-ove{eetttplet-e-HoOt-a)-and 41- 6-3 a3-is-unable-&n provide w_:`L_-- .:aefwe-4ta#--h lean-applic-ation-has-been-,ubrait*d-for-unildef-writing 64 approval der on or before 65 be-thirty-(40Ha.9 after the 144tave4-he-ophon-o"eekwing4hi5 66 Gor�traet terrttirtrzt date 67 speeifiett4wrern-or-atr)-,extensrert-date-agreed-4o-by4he-Par#res-rte-w-riting-. 68 / ' ore 69 fl@e1 uyer - or 70 Seller shalf htnfe the optiert c>f tfeelarittg-#hien#raet term}nated#by giving not later -74 #kart two{�j Btrsrne 13a=s afterthe c#a#e speer€red liereitt or arty=e texsrerr date agrees torbvTaii !w ttg- 72 A-I eausingdelay in-tete batt approval proeess sltal 11-L L terminate under either of t have t Ke L1911L 10 73 preceding-paragraphs-4n4he-event-ne her-Party-elects to declare this-Con aet. nufl.and void as of the latter 74 of-th," tes-speei-f-iet above-(as-may-be-ammded-from4ime-t"me),4hen-this-Contract-shall-continue-irt-fuH 7-5 €or-ce-a;'rdzffeet-without--any-lean-contingencies: 7-6 Lon ess-otherwise-prided--in-4ar-agraph-32,this-EOnlr<aet-shall-not be cvnim-gent--upon--he safe-and/or 7-7 efosing of f3uyer-s-existing-real estates Bttjer~shall be-deerttec# to have-satisfied-tbe €ir3a>3 7$ patgrapl3 rf-SuYer ebtatns-a loan- t-rrt-aeeerdarteeFrth-tlre tens ofthough 79 loan is eonditioned-on-thlesale-arjc/ctr-elesrr}g-of 8u >r-s exrs# r�g real esta#c� 80 9. STATUTORY DISCLOSURES: If applicable, prior to signing this Contract, Buyer: 81 [check one] L7 has �d has not received a completed Illinois Residential Real Property Disclosure; 82 [check one] LJ has 0 has not received the EPA Pamphlet, "Protect Your Family From Lead In Your Home"; 83 [check one]❑ has 0 has not received a Lead-Based Paint Disclosure; 84 [check one]J has ® has not received the IFMA, "Radon Testing Guidelines for Real Estate Transactions"; 85 [check one] .0 has 0 has not received the Disclosure of Information on Radon Hazards. Buller Initial rrlcr Initial Seller Initial Seller Initial5m.u,� Address: 658 McBride Street, Elgin, Illinois 60120 v6.0 Page 2 of 13 86 10. PRORATIONS: Proratable items shall include without limitation, rents and deposits (if any) from tenants; 87 Special Service Area or Special Assessment Area tax for the year of Closing only; utilities, water and sewer; and 88 Homeowner or Condominium Association fees (and Master/Umbrella Association fees, if applicable). 89 Accumulated reserves of a Homeowner/Condominium Association(s) are not a proratable item. Seller 90 represents that as of the Date of Acceptance Homeowner/Condominium Association(s)fees are$ NIA 91 per NIA (and, if applicable Master/Umbrella Association fees are$ NIA per N/A }. 92 Seller agrees to pay prior to or at Closing any special assessments (by any association or governmental entity) 93 confirmed prior to the Date of Acceptance. Special Assessment Area or Special Service Area installments due 94 after the year of Closing shall not be proratable items and shall be paid by Buyer. The general Real Estate taxes 95 shall be prorated as of the date of Closing based on 100 %of the most recent ascertainable full year tax bill. All 96 prorations shall be final as of Closing, except as provided in Paragraph 22. If the amount of the most recent 97 ascertainable full year tax bill reflects a homeowner, senior citizen or other exemption, a senior freeze or senior 98 deferral, then Seller has submitted or will submit in a timely manner all necessary documentation to the 99 appropriate governmental entity, before or after Closing, to preserve said exemption(s). The requirements of 100 this Paragraph shall survive the Closing. 101 11. ATTORNEY REVIEW: Within five (5) Business Days after Date of Acceptance, the attorneys for the respective 102 Parties,by Notice,may: 103 a) Approve this Contract;or 104 b) Disapprove this Contract, which disapproval shall not be based solely upon the Purchase Price;or 105 c) Propose modifications except for the Purchase Price. If within ten (10) Business Days after the Date of 106 Acceptance written agreement is not reached by the Parties with respect to resolution of the proposed 107 modifications, then either Party may terminate this Contract by serving Notice, whereupon this Contract 108 shall be null and void;or 109 d) Propose suggested changes to this Contract. If such suggestions are not agreed upon, neither Party may 110 declare this Contract null and void and this Contract shall remain in full force and effect. 111 Unless otherwise specified, all Notices shall be deemed made pursuant to Paragraph 110. If Notice is not 112 served within the time specified herein, the provisions of this paragraph shall be deemed waived by the 113 Parties and this Contract shall remain in full force and effect. 114 12. PROFESSIONAL INSPECTIONS AND INSPECTION NOTICES: Buyer may conduct at Buyer's expense (unless 115 otherwise provided by governmental regulations) any or all of the following inspections of the Real Estate by 116 one or more licensed or certified inspection services: home, radon, environmental, lead-based paint, lead-based 117 paint hazards or wood-destroying insect infestation. 118 a) Buyer agrees that minor repairs and routine maintenance items of the Real Estate do not constitute defects 119 and are not a part of this contingency. The fact that a functioning major component may be at the end of 120 its useful life shall not render such component defective for purposes of this paragraph. Buyer shall 121 indemnify Seller and hold Seller harmless from and against any loss or damage caused by the acts of 122 negligence of Buyer or any person performing any inspection. The home inspection shall cover only the 123 major components of the Real Estate, including but not limited to central heating system(s), central cooling 124 system(s), plumbing and well system, electrical system, roof, walls, windows, doors, ceilings, floors, 125 appliances and foundation. A major component shall be deemed to be in operating condition if it performs 126 the function for which it is intended, regardless of age, and does not constitute a threat to health or safety. If 127 radon mitigation is performed,Seller shall pay for any retest. 128 b) Buyer shall serve Notice upon Seller or Seller's attorney of any defects disclosed by any inspection for which 129 Buyer requests resolution by Seller, together with a copy of the pertinent pages of the inspection reports Buyer Initial ��Initial Seller Initial Seller Initial S�i� Address: 658 CBride Street, Elgin, Illinois 60120 v6.0 Page 3 of 13 130 within five (5) Business Days (ten (10) calendar days for a lead-based paint or lead-based paint hazard 131 inspection) after the Date of Acceptance. If within ten (10) Business Days after the Date of Acceptance 132 written agreement is not reached by the Parties with respect to resolution of all inspection issues, then either 133 Party may terminate this Contract by serving Notice to the other Party, whereupon this Contract shall be 134 null and void. 135 c) Notwithstanding anything to the contrary set forth above in this paragraph, in the event the inspection 136 reveals that the condition of the Real Estate is unacceptable to Buyer and Buver serves Notice to Seller 137 within five (5) Business Days after the Date of Acceptance, this Contract shall be null and void. Said Notice 138 shall not include any portion of the inspection reports unless requested by Seller. 139 d) Failure of Buyer to conduct said inspection(s) and notify Seller within the time specified operates as a 140 waiver of Buyer's rights to terminate this Contract under this Paragraph 12 and this Contract shall remain 141 in full force and effect. 142 13. HOMEOWNER INSURANCE: This Contract is contingent upon Buyer obtaining evidence of insurability for an 143 Insurance Service Organization HO-3 or equivalent policy at standard premium rates within ten (10) Business 144 Days after the Date of Acceptance. If Buyer is unable to obtain evidence of insurability and serves Notice 145 with proof of same to Seller within time specified, this Contract sha1l be null and void. If Notice is not 146 served within the time specified, Buyer shall be deemed to have waived this contingency and this Contract 147 shall remain in full force and effect. 148 14. FLOOD INSURANCE: Buyer shall have the option to declare this Contract null and void if the Real Estate is 149 located in a special flood hazard area. If Notice of the option to declare contract null and void is not given to 150 Seller within ten (10) Business Days after the Date of Acceptance or by the date specified in Paragraph 8 a), 151 whichever is later, Buyer shall be deemed to have waived such option and this Contract shall remain in full 152 force and effect. Nothing herein shall be deemed to affect anv rights afforded by the Residential Real Property 153 Disclosure Act. 164 15."NDOMINIUMICOMMON--4tCTE-RE--ST--ASSOOIATIONS. (-I - pheable)=lhe-4.1arties-agree--thZit-ttte-ers. 1§5 eontainedin this parragrerph;whieh-rnat; be contrai}-tither--terr�--ef--tl3is-E dt�3try 166 eonflieting-terms: 157 a}=title-when ee. c r-iiions 158 EtfZ`iic-veci'&YEitiHtt E?f 6ilf @r tififttiirjt�Wenani9- -Hn itiona-and'-Restrietions-( _'e.aration/CGRs") and all 159 amend easier- n15-in(_4uditt"rtre8L , by or implied from the 1601 Ieelerat3on{C-� �-©r-arrtertdtnei3ts-t#ieiete,� parte-wtall-rig#t5-s 164 pesed-b -the-C-enderijittitt 1 ef-G4fsing-xjrf Elesing-f> ei 162 moments established e-Deco-aration/C--C-Rs. 1,63 -pavtnei�t oz�ll regular a4sernertts due ai3d-1tE�ieprier 164 speeial rise mems-eonfirrned-prior-ta•tlie-Date-t�-eeptariee: 1&5 I;U11"-t-ititify--Buyer-<1f-an�proposed-speeial assessmentar-a. e ent-� -at��F--ie�.l �..t,wR-n 166 the,=ae�l�0' "e, tartee-ar dt 42Iesin -Tic=� rL -si�U'n' �h�n�e-three-eY-Btr�c�ss--Days tt�-rf It agreement 1b7 Mative-te-payment-thereof-A-bsent-stieh-agreement-either-Part intra—Rill an Heid. 168 d}-Seller-shall; within-fiac�( -Birsii3c�ss-Days frorn-tlie Batt 'of Aeeptai3ee�31�p} -f 1f 9 upon so e as cle.e Eben-in t;' litjffis-Condom nium-Property Act-, and. Oe same in a timely manner, 1-79n�1v� r-t hni�-the irrze pe'rr°d-pr ided €Qr-IiyA law-Itis C-ot�traet i5 subjeet#e-tlte Bend-ition that Serier be able 1�1 te-preeure-and-pr8vide-to-I3tt -mleasE�-er-w�iveref-art!�-riglrt-t�€-fi-rst-rf�€tical-Ear-ot#�er-prt�m}ptive-rights-te 1772 pttrehase-erected-by-the-Deelaratiert{EC-Ids-krtl�e erten#-the C-ettdc�i�itrTn�;seeia#tart ie�ltrires tl3e perste 173 appearane"f-Batter-er-additional-documentation;-Buyer-agrees-tcl�-,cotnpl --V%4t4rsame,7 Buyer InitiaWtial Seller Initial� ;eller hiitial5"_ Address: 658 CBride Street, Elgin, Illinois 60120 v6 0 Page 4 of 13 1-74 e--d©euments and-infermati -previded by Seller to Buyer diselose that the existing 146 n f-c- i tin t 4he-tams-and 146 a ffl* ens-eunteined-witl would-unreaseI.-yer's use of the premises o I-T7 d-ft #-ire 4ina tabled Buy c e Real Egtate, the 148 Buyer may deelare this Gmitraet-nu4l: and void by giving Seller Notiee within five (5) Buginess Days aftpr the 149 reeeipt-of.the-doettfftent,,, tiid-infarma1P ___--.. `ieh are 1W unaee"b ed withinShIall-be deemed to have , 1S1 waive and ntrae"ha+remaii3-in-full f0fee MIA effeet. 192 f} rA, 1.. n►imum-survey. elle „4. , Hnsurftn ' m , ,, 183 g �zi'�l-p 184 16. THE DEED: Seller shall convey or cause to be conveyed to Buyer or Buyer's Designated grantee good and 185 merchantable title to the Real Estate by recordable Warranty Deed, with release of homestead rights, (or the 186 appropriate deed if title is in trust or in an estate), and with real estate transfer stamps to be paid by Seller 187 (unless otherwise designated by local ordinance). Title when conveyed will be good and merchantable, subject 188 only to: covenants, conditions and restrictions of record and building lines and easements, if any, provided they 189 do not interfere with the current use and enjoyment of the Real Estate; and general real estate taxes not due and 190 payable at the time of Closing. 191 17. MUNICIPAL ORDINANCE,TRANSFER TAX,AND GOVERNMENTAL COMPLIANCE: 192 a) The Parries are cautioned that the Real Estate may be situated in a municipality that has adopted a pre- 193 closing inspection requirement, municipal Transfer Tax or other similar ordinances. Transfer taxes required 194 by municipal ordinance shall be paid by the Party designated in such ordinance. 195 b) The Parties agree to comply with the reporting requirements of the applicable sections of the Internal 196 Revenue Code and the Real Estate Settlement Procedures Act of 1974, as amended. 197 18. TITLE: At Seller's expense, Seller will deliver or cause to be delivered to Buyer or Buyer's attorney within 198 customary time limitations and sufficiently in advance of Closing, as evidence of title in Seller or Grantor, a title 199 commitment for an ALTA title insurance policy in the amount of the Purchase Price with extended coverage by 200 a title company licensed to operate in the State of Illinois, issued on or subsequent to the Date of Acceptance, 201 subject only to items listed in Paragraph 1.6. The requirement to provide extended coverage shall not apply if the 202 Real Estate is vacant land. The commitment for title insurance furnished by Seller will be presumptive evidence 203 of good and merchantable title as therein shown, subject only to the exceptions therein stated. If the title 204 commitment discloses any unpermitted exceptions or if the Plat of Survey shows any encroachments or other 205 survey matters that are not acceptable to Buyer, then Seller shall have said exceptions, survey matters or 206 encroachments removed, or have the title insurer commit to either insure against loss or damage that may 207 result from such exceptions or survey matters or insure against any court-ordered removal of the 208 encroachments. If Seller fails to have such exceptions waived or insured over prior to Closing, Buyer may elect 209 to take title as it then is with the right to deduct from the Purchase Price prior encumbrances of a definite or 210 ascertainable amount.Seller shall furnish Buyer at Closing an Affidavit of Title covering the date of Closing,and 211 shall sign any other customary forms required for issuance of an ALTA Insurance Policy. 212 19. PLAT OF SURVEY: Not less than one (1) Business Day prior to Closing, except where the Real Estate is a 213 condominium (see Paragraph 15) Seller shall, at Seller's expense, furnish to Buyer or Buyer's attorney a Plat of 214 Survey that conforms to the current Minimum Standard of Practice for boundary surveys, is dated not more 215 than six (6) months prior to the date of Closing, and is prepared by a professional land surveyor licensed to 216 practice land surveying under the laws of the State of Illinois.The Plat of Survey shall show visible evidence of 217 improvements, rights of way, easements, use and measurements of all parcel lines. The land surveyor shall set Buyer initial Wim'[ r r rutirit Seller Initiat�_Seller Initial Address: 658 McBride Street, Elgin, Illinois 60120 v6.0 Page 5 of 13 218 monuments or witness corners at all accessible corners of the land. All such corners shall also be visibly staked 219 or flagged.The Plat of Survey shall include the following statement placed near the professional land surveyor's 220 seal and signature: "This professional service conforms to the current Illinois Minimum Standards for a 221 boundary survey." A Mortgage Inspection, as defined, is not a boundary survey and is not acceptable. 222 20. DAMAGE TO REAL ESTATE OR CONDEMNATION PRIOR TO CLOSING: If prior to delivery of the deed the 223 Real Estate shall be destroyed or materially damaged by fire or other casualty, or the Real Estate is taken by 224 condemnation, then Buyer shall have the option of either terminating this Contract (and receiving a refund of 225 earnest money) or accepting the Real Estate as damaged or destroyed, together with the proceeds of the 226 condemnation award or any insurance payable as a result of the destruction or damage, which gross proceeds 227 Seller agrees to assign to Buyer and deliver to Buyer at Closing. Seller shall not be obligated to repair or replace 228 damaged improvements. The provisions of the Uniform Vendor and Purchaser Risk Act of the State of Illinois 229 shall be applicable to this Contract,except as modified by this paragraph. 230 21. CONDITION OF REAL ESTATE AND INSPECTION: Seller agrees to leave the Real Estate in broom clean 231 condition. All refuse and personal property that is not to be conveyed to Buyer shall be removed from the Real 232 Estate at Seller's expense prior to delivery of Possession. Buyer shall have the right to inspect the Real Estate, 233 fixtures and included Personal Property prior to Possession to verify that the Real Estate improvements and 234 included Personal Property are in substantially the same condition as of the Date of Acceptance, normal wear 235 and tear excepted. 236 22. REAL ESTATE TAX ESCROW: In the event the Real Estate is improved,but has not been previously taxed for 237 the entire year as currently improved, the sum of three percent(3%) of the Purchase Price shall be deposited in 238 escrow with the title company with the cost of the escrow to be divided equally by Buyer and Seller and paid at 239 Closing. When the exact amount of the taxes to be prorated under this Contract can be ascertained, the taxes 240 shall be prorated by Seller's attorney at the request of either Party and Seller's share of such tax liability after 241 proration shall be paid to Buyer from the escrow funds and the balance, if any,shall be paid to Seller. If Seller's 242 obligation after such proration exceeds the amount of the escrow funds, Seller agrees to pay such excess 243 promptly upon demand. 244 23. SELLER REPRESENTATIONS: Seller's representations contained in this paragraph shall survive the Closing. 245 Seller represents that with respect to the Real Estate Seller has no knowledge of nor has Seller received any 246 written notice from any association or governmental entity regarding: 247 a) zoning,building, fire or health code violations that have not been corrected; 248 b) any pending rezoning; 249 c) boundary line disputes; 250 d) any pending condemnation or Eminent Domain proceeding; 251 e) easements or claims of easements not shown on the public records; 252 f) any hazardous waste on the Real Estate; 253 g) any improvements to the Real Estate for which the required initial and final permits were not obtained; 254 h) any improvements to the Real Estate which are not included in full in the determination of the most recent tax assessment;or 255 i) any improvements to the Real Estate which are eligible for the home improvement tax exemption. 256 Seller further represents that: 257 tlnitiat.l There [check orae] ❑ is and is not a pending or unconfirmed special assessment 258 affecting the Real Estate by any association or governmental entity payable by Buyer after the date of Closing. 259 The Real Estate [check one] ❑ is 0 is not located within a Special Assessment Area or 260 Special Service Area, payments for which will not be the obligation of Seller after the year in which the Closing ooai s. Buyer Initial ler Initial Seller Initial-ate Seller Initial twa� Address: 658 McBride Street, Elgin,Illinois 60120 v6.0 Page 6 of 13 261 All Seller representations shall be deemed re-made as of Closing. If prior to Closing Seller becomes aware of 262 matters that require modification of the representations previously made in this Paragraph 23, Seller shall 263 promptly notify Buyer. If the matters specified in such Notice are not resolved prior to Closing, Buyer may 264 terminate this Contract by Notice to Seller and this Contract shall be null and void. 265 24. BUSINESS DAYSMOURS: Business Days are defined as Monday through Friday, excluding Federal 266 holidays.Business Hours are defined as 8:00 A.M. to 6:00 P.M. Chicago time. 267 25. FACSIMILE OR DIGITAL SIGNATURES: Facsimile or digital signatures shall be sufficient for purposes of 268 executing, negotiating, and finalizing this Contract, and delivery thereof by one of the following methods shall 269 be deemed delivery of this Contract containing original signature(s). An acceptable facsimile signature may be 270 produced by scanning an original, hand-signed document and transmitting same by facsimile. An acceptable 271 digital signature may be produced by use of a qualified, established electronic security procedure mutually 272 agreed upon by the Parties. Transmissions of a digitally signed copy hereof shall be by an established, mutually 273 acceptable electronic method, such as creating a PDF ("Portable Document Format") document incorporating 274 the digital signature and sending same by electronic mail. 275 26. DIRECTION TO ESCROWEE: In every instance where this Contract shall be deemed null and void or if this 276 Contract may be terminated by either Party, the following shall be deemed incorporated: "and Earnest Money 277 refunded upon the joint written direction by the Parties to Escrowee or upon an entry of an order by a court of 278 competent jurisdiction." 279 In the event either Party has declared the Contract null and void or the transaction has failed to close as 280 provided for in this Contract and if Escrowee has not received joint written direction by the Parties or such court 281 order,the Escrowee may elect to proceed as follows: 282 a) Escrowee shall give written Notice to the Parties as provided for in this Contract at least fourteen (14) days 283 prior to the date of intended disbursement of Earnest Money indicating the manner in which Escrowee 284 intends to disburse in the absence of any written objection. If no written objection is received by the date 285 indicated in the Notice then Escrowee shall distribute the Earnest Money as indicated in the written Notice 286 to the Parties. If any Party objects in writing to the intended disbursement of Earnest Money then Earnest 287 Money shall be held until receipt of joint written direction from all Parties or until receipt of an order of a 288 court of competent jurisdiction. 289 b) Escrowee may file a Suit for Interpleader and deposit any funds held into the Court for distribution after 290 resolution of the dispute between Seller and Buyer by the Court. Escrowee may retain from the funds 291 deposited with the Court the amount necessary to reimburse Escrowee for court costs and reasonable 292 attorney's fees incurred due to the filing of the Interpleader. If the amount held in escrow is inadequate to 293 reimburse Escrowee for the costs and attorney's fees, Buyer and Seller shall jointly and severally indemnify 294 Escrowee for additional costs and fees incurred in filing the Interpleader action. 295 27. NOTICE: Except as provided in Paragraph 32 c) 2) regarding the manner of service for "kick-out" Notices,all 296 Notices shall be in writing and shall be served by one Party or attorney to the other Party or attorney. Notice to 297 any one of the multiple person Party shall be sufficient Notice to all.Notice shall be given in the following manner: 298 a) By personal delivery;or 299 b) By mailing to the addresses recited herein by regular mail and by certified mail,return receipt requested.Except 300 as otherwise provided herein,Notice served by certified mail shall be effective on the date of mailing;or 301 c) By facsimile transmission. Notice shall be effective as of date and time of the transmission, provided that the 302 Notice transmitted shall be sent on Business Days during Business Hours. In the event Notice is transmitted Buyer InitialQdg�kInitial Seller Initial.5M&)SellerInitial Address: 658 McBride Street, Elgin, Illinois 60120 _v6.0 Page 7 of 13 303 during non-business hours, the effective date and time of Notice is the first hour of the next Business Day after 304 transmission;or 305 d) By e-mail transmission if an e-mail address has been furnished by the recipient Party or the recipient Party's 306 attorney to the sending Party or is shown in this Contract.Notice shall be effective as of date and time of e-mail 307 transmission, provided that, in the event e-mail Notice is transmitted during non-business hours, the effective 308 date and time of Notice is the first hour of the next Business Day after transmission. An attorney or Party may 309 opt out of future e-mail Notice by any form of Notice provided by this Contract;or 310 e) By commercial overnight delivery (e.g., FedEx). Such Notice shall be effective on the next Business Day 311 following deposit with the overnight delivery company. 312 28. PERFORMANCE:Time is of the essence of this Contract.In any action with respect to this Contract, the Parties 313 are free to pursue any legal remedies at law or in equity and the prevetiling party in litigation all be entitie 314 I . 315 29. CHOICE OF LAW AND GOOD FAITH: All terms and provisions of this Contract including but not limited to the 316 Attorney Review and Professional Inspection paragraphs shall be governed by the laws of the State of Illinois and 317 are subject to the covenant of good faith and fair dealing implied in all Illinois contracts. 318 30. OTHER PROVISIONS: This Contract is also subject to those OPTIONAL PROVISIONS initialed by the Parties 319 and the following additional attachments, if any: 320 321 OPTIONAL PROVISIONS(Applicable ONLY if initialed by all Parties) 322 unitiatsi 31. CONFIRMATION OF DUAL AGENCY: The Parties confirm that they have previously 323 consented to (Licensee)acting as a Dual Agent in providing 324 brokerage services on their behalf and specifically consent to Licensee acting as a Dual Agent with regard to the 325 transaction referred to in this Contract. 326 32. SALE OF BUYER'S REAL ESTATE: 327 a) REPRESENTATIONS ABOUT BUYER'S REAL ESTATE:Buyer represents to Seller as follows: 328 1) Buyer owns real estate(hereinafter referred to as"Buyer's real estate")with the address of: 329 330 Address City State "Lip 331 2) Buyer[check one]0 has ❑has not entered into a contract to sell Buyer's real estate. 332 If Buyer has entered into a contract to sell Buyer's real estate,that contract: 333 a) [check one]0 is 0 is not subject to a mortgage contingency. 334 b) [check one]0 is O is not subject to a real estate sale contingency. 335 c) [check one]O is 0 is not subject to a real estate closing contingency. 336 3) Buyer[check one] ❑ has 0 has not listed Buyer's real estate for sale with a licensed real estate broker and 337 in a local multiple listing service. 338 4) If Buyers real estate is not listed for sale with a licensed real estate broker and in a local multiple listing 339 service,Buyer[check one): 340 a) LI Shall list real estate for sale with a licensed real estate broker who will place it in a local multiple 341 listing service within five(5)Business Days after Date of Acceptance. 342 [For infonnation only]Broker: 343 Broker's Address: Phone: 344 b) D Does not intend to list said real estate for sale. Buyer Initial lZ �tial Seller Initial��Seller Initial Address: 658 McBride Street, Elgin,Illinois 60120 v6.0 Page 8 of 13 345 b) CONTINGENCIES BASED UPON SALE AND/OR CLOSING OF REAL ESTATE: 346 1) This Contract is contingent upon Buyer having entered into a contract for the sale of Buyer's real estate that 347 is in full force and effect as of 20 . Such contract should provide for a closing 348 date not later than the Closing Date set forth in this Contract. If Notice is served on or before the date set 349 forth in this subparagraph that Buyer has not procured a contract for the sale of Buyer's real estate, this 350 Contract shall be null and void. If Notice that Buyer has not procured a contract for the sale of Buyer's 351 real estate is not served on or before the close of business on the date set forth in this subparagraph, 352 Buyer shall be deemed to have waived all contingencies contained in this Paragraph 32, and this 353 Contract shall remain in full force and effect.(If this paragraph is used,then the following paragraph must 354 be completed.) 355 2) In the event Buyer has entered into a contract for the sale of Buyer's real estate as set forth in Paragraph 32 356 b) 1) and that contract is in full force and effect, or has entered into a contract for the sale of Buyer's real 357 estate prior to the execution of this Contract, this Contract is contingent upon Buyer closing the sale of 358 Buyers real estate on or before 20 . If Notice that Buyer has not closed the sale 359 of Buyer's real estate is served before the close of business on the next Business Day after the date set 360 forth in the preceding sentence, this Contract shall be null and void. If Notice is not served as described 361 in the preceding sentence, Buyer shall have deemed to have waived all contingencies contained in this 362 Paragraph 32,and this Contract shall remain in full force and effect. 363 3) If the contract for the sale of Buyer's real estate is terminated for any reason after the date set forth in 364 Paragraph 32 b) 1)(or after the date of this Contract if no date is set forth in Paragraph 32 b) 1)),Buyer shall, 365 within three(3) Business Days of such termination, notify Seller of said termination. Unless Buyer,as part 366 of said Notice,waives all contingencies in Paragraph 32 and complies with Paragraph 32 d),this Contract 367 shall be null and void as of the date of Notice. If Notice as required by this subparagraph is not served 368 within the time specified,Buyer shall be in default under the terms of this Contract. 369 c) SELLER'S RIGHT TO CONTINUE TO OFFER REAL ESTATE FOR SALE: During the time of this contingency, 370 Seller has the right to continue to show the Real Estate and offer it for sale subject to the following: 371 1) If Seller accepts another bona fide offer to purchase the Real Estate while contingencies expressed in 372 Paragraph 32 b)are in effect,Seiler shall notify Buyer in writing of same.Buyer shall then have 373 hours after Seller gives such Notice to waive the contingencies set forth in Paragraph 32 b), subject to 374 Paragraph 32 d). 375 2) Seller's Notice to Buyer(commonly referred to as a'kick-out' Notice)shall be in writing and shall be served 376 on Buyer,not Buyers attorney or Buyer's real estate agent.Courtesy copies of such'kick-out' Notice should 377 be sent to Buyers attorney and Buyer's real estate agent, if known. Failure to provide such courtesy copies 378 shall not render Notice invalid. Notice to any one of a multiple-person Buyer shalt be sufficient Notice to all 379 Buyers.Notice for the purpose of this subparagraph only shall be served upon Buyer in the following manner: 380 a) By personal delivery effective at the time and date of personal delivery;or 381 b) By mailing to the address recited herein for Buyer by regular mail and by certified mail. Notice shall be 382 effective at 10:00 A.M.on the morning of the second day following deposit of Notice in the U.S.Mail;or 383 c) By commercial delivery overnight (e.g., FedEx). Notice shall be effective upon delivery or at 4:00 P.M. 384 Chicago time on the next delivery day following deposit with the overnight delivery company, 385 whichever first occurs. 386 3) If Buyer complies with the provisions of Paragraph 32 d)then this Contract shall remain in full force and effect. 387 4) If the contingencies set forth in Paragraph 32 b) are NOT waived in writing, within said time period by 388 Buyer, this Contract shall be null and void. Buyer Initial uyer Initial Seller Initial Seller Initial Address: 658 McBride Street,Elgin,Illinois 60120 v6.0 Page 9 of 13 389 5) Except as provided in Paragraph 32 c) 2) above, all Notices shall be made in the manner provided by 390 Paragraph 27 of this Contract. 391 6) Buyer waives any ethical objection to the delivery of Notice under this paragraph by Seller's attorney or 392 representative. 393 d) WAIVER OF PARAGRAPH 32 CONTINGENCIES: Buyer shall be deemed to have waived the contingencies in 394 Paragraph 32 b) when Buyer has delivered written waiver and deposited with the Escrowee additional earnest 395 money in the amount of$ in the form of a cashier's or certified check within the time 396 specified.If Buyer fails to deposit the additional earnest money within the time specified,the waiver shall be 397 deemed ineffective and this Contract shall be null and void. 398 e) BUYER COOPERATION REQUIRED: Buyer authorizes Seller or Seller's agent to verify representations contained 399 in Paragraph 32 at any time,and Buyer agrees to cooperate in providing relevant information. 400 33. CANCELLATION OF PRIOR REAL ESTATE CONTRACT: In the event either Party has entered 401 into a prior real estate contract,this Contract shall be subject to written cancellation of the prior contract on or before 402 20 . In the event the prior contract is not cancelled within the time specified, this 403 Contract shall be null and void. Seller's notice to the purchaser under the prior contract should not be served 404 until after Attorney Review and Professional Inspections provisions of this Contract have expired, been 405 satisfied or waived. 406 34. HOME WARRANTY:Seller shall provide at no expense to Buyer a Home Warranty at a cost 407 of$ .Evidence of a fully pre-paid policy shall be delivered at Closing. 408 35. CREDIT AT CLOSING: Provided Buyer's lender permits such credit to show on the HUD-1 409 Settlement Statement or Closing Disclosure, and if not,such lesser amount as the lender permits, Seller agrees to 410 credit$ to Buyer at Closing to be applied to prepaid expenses,closing costs or both. 411 36. TRANSACTIONS NOT CONTINGENT ON FINANCING: IF EITHER OF THE FOLLOWING 412 ALTERNATIVE OPTIONS IS SELECTED, THE PROVISIONS OF THE MORTGAGE CONTINGENCY PARAGRAPH 8 413 SHALL NOT APPLY[CHOOSE ONLY ONE]: 414 a) Transaction With No Mortgage(All Cash): If this selection is made, Buyer will pay at closing, 415 in the form of "Good Funds' the difference (plus or minus prorations) between the Purchase Price and the 416 amount of the Earnest Money deposited pursuant to Paragraph 4 above. Buyer represents to Seller, as of the 417 Date of Offer, that Buyer has sufficient funds available to satisfy the provisions of this paragraph. Buyer agrees 418 to verify the above representation upon the reasonable request of Seller and to authorize the disclosure of such 419 financial information to Seller, Seller's attorney or Seller's broker that may be reasonably necessary to provide 420 the availability of sufficient funds to close. Buyer understands and agrees that, so long as Seller has fully 421 complied with Seller's obligations under this Contract, any act or omission outside of the control of Seller, 422 whether intentional or not, that prevents Buyer from satisfying the balance due from Buyer at closing, shall 423 constitute a material breach of this Contract by Buyer. The Parties shall share the title company escrow closing 424 fee equally. Unless otherwise provided in Paragraph 32, this Contract shall not be contingent upon the sale 425 and/or closing of Buyer's existing real estate. 426 b) Transaction, Mortgage Allowed: If this selection is made, Buyer will pay at closing, in the 427 form of "Good Funds" the difference(plus or minus prorations) between the Purchase Price and the amount of 428 the Earnest Money deposited pursuant to Paragraph 4 above. Buyer represents to Seller, as of the Date of Offer, 429 that Buyer has sufficient funds available to satisfy the provisions of this paragraph. Buyer agrees to verify the 430 above representation upon the reasonable request of Seller and to authorize the disclosure of such financial 431 information to Seller, Seller's attorney or Seller's broker that may be reasonably necessary to prove the 432 availability of sufficient funds to close. Notwithstanding such representation, Seller agrees to reasonably and Buyer Initial er Initial Seller Initial.:iMMISeller Initial Address: 658 McBride Street, Elgin, Illinois 60120 v6.0 Page 10 of 13 433 promptly cooperate with Buyer so that Buyer may apply for and obtain a mortgage loan or loans including but 434 not limited to providing access to the Real Estate to satisfy Buyer's obligations to pay the balance due (plus or 435 minus prorations) to close this transaction. Such cooperation shall include the performance in a timely manner 436 of all of Seller's pre-closing obligations under this Contract. This Contract shall NOT be contingent upon 437 Buyer obtaining a commitment for financing. Buyer understands and agrees that, so long as Seller has fully 438 complied with Seller's obligations under this Contract, any act or omission outside of the control of Seller, 439 whether intentional or not, that prevents Buyer from satisfying the balance due from Buyer at Closing shall 440 constitute a material breach of this Contract by Buyer. Buyer shall pay the title company escrow closing fee. 441 Unless otherwise provided in Paragraph 32, this Contract shall not be contingent upon the sale and/or 442 closing of Buyer's existing real estate. 443 37. VA OR FHA FINANCING: If Buyer is seeking VA or FHA financing, required FHA or VA 444 amendments and disclosures shall be attached to this Contract If VA, the Funding Fee, or if FHA, the Mortgage 445 Insurance Premium(MIP)shall be paid by Buyer and[check one]U shall U shall not be added to the mortgage loan amount 446 38. WELL OR SANITARY SYSTEM INSPECTIONS: Seller shall obtain at Sellers expense a well 447 water test stating that the well delivers not less than five (5) gallons of water per minute and including a bacteria 448 and nitrate test and/or a septic report from the applicable County Health Department, a Licensed Environmental 449 Health Practitioner, or a licensed well and septic inspector, each dated not more than ninety (90) days prior to 450 Closing,stating that the well and water supply and the private sanitary system are in operating condition with no 451 defects noted.Seller shall remedy any defect or deficiency disclosed by said report(s)prior to Closing,provided that 452 if the cost of remedying a defect or deficiency and the cost of landscaping together exceed $3,000.00, and if the 453 Parties cannot reach agreement regarding payment of such additional cost, this Contract may be terminated by 454 either Party. Additional testing recommended by the report shall be obtained at the Seller's expense. If the report 455 recommends additional testing after Closing, the Parties shall have the option of establishing an escrow with a 456 mutual cost allocation for necessary repairs or replacements, or either Party may terminate this Contract prior to 457 Closing.Seller shall deliver a copy of such evaluation(s)to Buyer not less than one(1)Business Day prior to Closing. 458 39. WOOD DESTROYING INFESTATION: Notwithstanding the provisions of Paragraph 12, 459 within ten(10) Business Days after the Date of Acceptance,Seller at Seller's expense shall deliver to Buyer a written 460 report, dated not more than six (6) months prior to the Date of Closing, by a licensed inspector certified by the 461 appropriate state regulatory authority in the subcategory of termites, stating that there is no visible evidence of 462 active infestation by termites or other wood destroying insects. Unless otherwise agreed between the Parties,if the 463 report discloses evidence of active infestation or structural damage, Buyer has the option within five (5) Business 464 Days of receipt of the report to proceed with the purchase or to declare this Contract null and void. 465 40. POST CLOSING POSSESSION: Possession shall be delivered no later than 11:59 P.M.on the 466 date that is days after the date of Closing ("the Possession Date"). Seller shall be responsible for all 467 utilities, contents and liability insurance, and home maintenance expenses until delivery of possession. Seller shall 468 deposit in escrow at CIosing with [check ane]O one percent(1%) 469 of the Purchase Price or 0 the sum of$ to be paid by Escrowee as follows: 470 a) The sum of$ per day for use and occupancy from and including the day after Closing to 471 and including the day of delivery of Possession, if on or before the Possession Date; 472 b) The amount per day equal to three (3) times the daily amount set forth herein shall be paid for each day after 473 the Possession Date specified in this paragraph that Seller remains in possession of the Real Estate;and Buyer Initialr Initial Seller Initial.6T"Seller Initial Address: 658 McBride Street, Elgin, Illinois 60120 v6.0 Page 11 of 13 474 c) The balance, if any, to Seller after delivery of Possession and provided that the terms of Paragraph 21 have been 475 satisfied. Seller's liability under this paragraph shall not be limited to the amount of the possession escrow 476 deposit referred to above.Nothing herein shall be deeined to create a Landlord/Tenant relationship between the Parties. 477 41. "AS IS" CONDITION: This Contract is for the sale and purchase of the Real Estate in its"As 478 Is" condition as of the Date of Offer. Buyer acknowledges that no representations, warranties or guarantees with 479 respect to the condition of the Real Estate have been made by Seller or SeIler's Designated Agent other than those 480 known defects,if any, disclosed by Seller.Buyer may conduct an inspection at Buyer's expense.In that event,Seller 481 shall make the Real Estate available to Buyer's inspector at reasonable times. Buyer shall indemnify Seller and hold 482 Seller harmless from and against any loss or damage caused by the acts of negligence of Buyer or any person 483 performing any inspection. In the event the inspection reveals that the condition of the Real Estate is 484 unacceptable to Buyer and Buyer so notifies Seller within five (5) Business Days after the Date of Acceptance, 485 this Contract shall be null and void. Buyer's notice SHALL NOT include a copy of the inspection report, and 486 Buyer shall not be obligated to send the inspection report to Seller absent Seller's written request for same. 487 Failure of Buyer to notify Seller or to conduct said inspection operates as a waiver of Buyer's right to terminate 488 this Contract under this paragraph and this Contract shall remain in full force and effect. Buyer acknowledges 489 that the provisions of Paragraph 12 and the warranty provisions of Paragraph 5 do not apply to this Contract. 490 42. SPECIFIED PARTY APPROVAL: This Contract is contingent upon the approval of the Real 491 Estate by 492 Buyer's Specified Party, within five (5) Business Days after the Date of Acceptance. In the event Buyer's Specified 493 Party does not approve of the Real Estate and Notice is given to Seller within the time specified, this Contract shall 494 be null and void. If Notice is not served within the time specified, this provision shall be deemed waived by the 495 Parties and this Contract shall remain in full force and effect. 496 43. INTEREST BEARING ACCOUNT: Earnest money (with a completed W-9 and other 497 required forms), shall be held in a federally insured interest bearing account at a financial institution designated 498 by Escrowee. All interest earned on the earnest money shall accrue to the benefit of and be paid to Buyer. Buyer 499 shall be responsible for any administrative fee (not to exceed $100) charged for setting up the account. In 500 anticipation of Closing, the Parties direct Escrowee to close the account no sooner than ten (10) Business Days 501 prior to the anticipated Closing date. 502 44. MISCELLANEOUS PROVISIONS: Buyer's and Seller's obligations are contingent upon the 503 Parties entering into a separate written agreement consistent with the terms and conditions set forth herein, and 504 with such additional terms as either Party may deem necessary,providing for one or more of the following[dw&applia*e bows] 505 ❑Articles of Agreement for Deed LI Assumption of Seller's Mortgage ❑Commercial/Investment 506 or Purchase Money Mortgage ❑Cooperative Apartment 0 New Construction 507 ❑Short Sale ❑Tax-Deferred Exchange Cl Vacant Land 508 [LINES SOS-511 LETT INTEN(TONALLY BLANK) 509 510 511 Buyer Initia��Initial Seller Initial,5�(�Seller Initial Address: 658 McBride Street, Elgin, Illinois 60120 v6.0 Page 12of13 512 THIS DOCUMENT WILL BECOME A LEGALLY BINDING CONTRACT WHEN SIGNED BY ALL PARTIES AND DELIVERED TO THE PARTIES OR THEIR AGENTS. 513 THE PARTIES REPRESENT THAT THE TEXT OF THiS COPYRIGHTED FORM HAS NOT BEEN ALTERED AND IS IDENTICAL TO THE OFFICIAL 514 MULTi-BOARD RESIDENTIAL REAL ESTATE CONTRACT 6.0. 515 August 22, 18 August 22 , 2018 516 Date DAT ACCEPTANCE 517 ap 518 Buyer Signature Seller Signature 519 520 Buyer Signature Seller Signature 521 City of Elgin,an Illinois municipal corporation Robert O.Werrbach Trust, Owner of Record 522 Print Buyer(s)Name(s)(Regttiredl Print Seller(s)Name(s)[I?egtcired] 523 150 Dexter Court c/o Steve Werrbach, 660 McBride Street 524 Address Address 525 Elgin, IL 60120 _ Elgin, IL 60120 526 City State Lip City State Zip S27 847-931-5655 847-742-1665 528 Phone E maii Phcme E-mail 529 FOR INFORMATION ONLY 530 N/A None 531 Buyer's Brokerage MLS" Seller's Brokerage M'LS8 532 N/A None 533 Address City Lip Address City Zip 534 N/A 535 Buyer's Designated Agurt MLS i; Seller's Designated Agent MLS 0 536 N/A _ 537 Phone Fax Phone Fax 538 NIA 539 E-mail E-mail 540 William A.Cogley cogley_w@cityofelgin.org Douglas J. Scheflow schenowrytltUleaol.com 541 Buyer's Attorney E-mail Seller's AttomeV E-mail 542 150 Dexter Court Elgin 60120 63 Douglas Avenue,Suite 200 Elgin 60120 543 Address City Zip Address City Zip 544 847-931-5659 847-931-5665 847-695-2800 545 Phone Fax Phone Fax 546 N/A 547 Mortgage Company Phone Homeowner's/Condo Association(if any) Phone 548 N/A 549 Lean Officer Phone/Fax Management Co./Other Contact Phone 550 N/A 551 Loan Officer E-mail Mviagement Co./Other Contact E-mail 552 1 Illinois Real Estate License Law requires all offers be presented in a timely manner,Buyer requests verification that this offer Has presented. E 553 'Seller rejection:This offer%vas presented to Seller on 20 at__A.M./P.M.and rejected on 554 1 .20 at_ A.M./P.M. ^(Setter Initials] 555 7 201$illinins Real Estate Lr ws Asociatiow All rights rm7wd. unauthorized duplication or alteration of this form or any portion thereof is prohibited Oficial lirm awilable at 556s y,'r<�ia» (uOxite of Illinois Real rsfale Lausyvrs Acsthwlion).Appro?rd in/the faflo;oing organization Jiihy 2014:Illinois&wl Estate L,ruijav A,,. iaticn-Dul'age Quenu)Bar A.svxwtton 557 McHenry County Bar Association %ortlrwq Siduirban Bar Assoriatn;ri-Will Quinty Bar Al sixnitwn Chicago Assocatfion of REALTORS`-Heartland I _ALTOR'O'gani.ation•Illini Valinj 558 Association iYRFiIL7VRS`• Kartkakn-lrchluois-Ford Corirtty Asstxialiorh of REALI''ORS` Niairtstrect Organizafiort of RIALTORSw North Shane-Barrington A,,wiatian of REALTORS* (W Park 559 qmt Association ofREAI_TORS` RF.ALTOR'Assixiathm of lire I t'1 Vallnj,Inc.-Tlnic Ritvrs Asvx iatiert of REALTORS` Buller Initial _ r Itlitiid Seller Initial Seller Initial�,Z�l�/ Address: 658 McBride Street, Elgin, Illinois 60120 v6.0 Page 13 of 13 RIDER TO REAL ESTATE CONTRACT FOR THE SALE OF 658 McBRIDE STREET, ELGIN, ILLINOIS 60120 This Rider to the real estate contract is made and entered into this 22 day of August, 2018, by and between Robert O. Werrbach Trust (hereinafter referred to as "Seller") and the City of Elgin, Illinois, a municipal corporation (hereinafter referred to as 'Buyer"); and WHEREAS, Seller and Buyer are concurrently with the entry into this Rider entering into a real estate contract providing for the sale of 658 McBride Street, Elgin, Illinois 60120 from Seller to Buyer (such property is hereinafter referred to as the "Subject Property" and such contract is hereinafter referred to as the "Subject Contract"); and WHEREAS, the parties wish to set forth their further agreement between them regarding the sale of the Subject Property 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 is 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 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. Notwithstanding anything in the Subject Contract the Buyer agrees to and shall pay for the costs of the title commitment, survey fee and all title company fees, including closing fees, CPL and policy tax. For purposes of clarification, Seller will be providing a tax credit as provided in the contract, shall pay the final water bill, and shall pay Seller attorney fees. IN WITNESS WHEREOF, Seller and Buyer have entered into and executed this Rider to as of the date and year first written above. BUYER: SELLER: CITY OF ELGIN Robert O. Werrbach Trust lze By: City Manager F\Legal DepAReal E.aatelRider-658 McBride-Werrbach Trust-7-10-18.doex 512 THIS DOCUMENT WILL BECOME A LEGALLY BINDING CONTRACT WHEN SIGNED BY ALL PARTIES AND DELIVERED TO 111E PARTIES OR THEIR AGENTS. 513 THE PARTIES REPRESENT THAT THE TEXT OF THIS COPYRIGHTED FORM HAS NOT BEEN ALTERED AND IS IDENTICAL TO THE OFFICIAL 514 MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 6.0. 515 August22 , 2018 August 22 , 201]8 516 [late of D.AT ACCEPTC�� 517 518 Buyer.ignature Seller Signature 519 520 Buyer Signature Seller Signature 521 City of Elgin,an Illinois municipal corporation Robert O.Werrbach Trust, Owner of Record 522 Print Buyer(s)Name(s)[Required] Print Seller(s)Name(s)[Required] 523 150 Dexter Court c/o Steve Werrbach, 660 McBride Street 524 Address Address 525 Erin, IL 60120 Elgin, IL 60120 526 City State Zip City State Zip 527 847-931-5655 847-742-1665 528 Phone E-mail Phone E-mail 529 FOR INFORMATION ONLY 530 NIA None 531 Buyer's Brokerage MLS Seller's Brokerage MLS A 532 N/A None 533 Address City Zip Address City Zip 534 NIA 535 Buyer's Designated Agent MLS It Seller's Designated Agent MLS� 536 NIA 537 Phone Fax Phone Fax 538 NIA 539 t:-mail E-mail 540 William A.Cogley cogley_w@cityofelgin.org Douglas J. Scheflow _ KNA0wrydN+eld.m+ 541 Buyer's Attorne'v E-mail Seller's Attorney E-mail 542 150 Dexter Court Elgin 60120 63 Douglas Avenue,Suite 200 Elgin 60120 543 Address Citi Zip Address City Zip 544 847-931-5659 847-931-5665 847-695-2800 545 Phone Fax Phone Fax 546 N/A 547 'Mortgage Company Phone Homeowner's/Condo Association(if any) Phone 548 N/A 549 Loan Officer Phone/Fax Management Co./Other Contact Phone 550 NIA 551 Loan Officer E-mail Management Co./Other Contact E-mail 552 Illinois Real]state License Law requires all offers be presented in a timely manna);Buyer requests verification that this offer was presented S53 Seller rejection:This offer was presented to Seller on 20 at__A.M./P.M.and rejected on 554 20 atA.M./P.M.__!Seller Initials] 555 J 2014,1Hfm)8 Real Estate 1Lauwrrs Association.All rights reserwit. Unauthorized duplications or alteration of this farm or any portion thereof is prohibited.Oficial form awilabk at 556 xc a:.iri i7 nr� M01site of Illinois Real Estate L=,!)rs Asswiahon).Apyrowd by the following organizations,July 2014:Illinois Real Estate Lawyers Assiriation•nuPage County Bar Assaiation 557 A4cHeary County Bar Association•I forNrwrst Suburban Bar As.soriation-Will County Bar Association•Chicago Association of REALTORS'•Heartland REALTOR'S Organization•Iltini Valky 558 Aseociation efREALTORS`-Kankakee-Iroquois-Ford County Association of REALTORS"-Mainstrect Organizalkw of REALTORS'•North Shore-Barrington Association of REALTORS*•Oak Park 559 Area AsGxiation ofREALTORS"REALTOR*Amkxiation of the An Valley,Inc.-Ihnr Rivers Assaiation OfREALTORS, Buyer Initial�Gf . cr Initial Seller Initials&AV Seller Initial�6-A I/ Address: 658 McBride Street, Elgin, Illinois 60120 v6.0 Page 13 of 13 RIDER TO REAL ESTATE CONTRACT FOR THE SALE OF 658 McBRIDE STREET,ELGIN, ILLINOIS 60120 This Rider to the real estate contract is made and entered into this 22 day of August, 2018, by and between Robert O. Werrbach Trust (hereinafter referred to as "Seller') and the City of Elgin, Illinois, a municipal corporation (hereinafter referred to as "Buyer"); and WHEREAS, Seller and Buyer are concurrently with the entry into this Rider entering into a real estate contract providing for the sale of 658 McBride Street, Elgin, Illinois 60120 from Seller to Buyer (such property is hereinafter referred to as the "Subject Property" and such contract is hereinafter referred to as the "Subject Contract"); and WHEREAS, the parties wish to set forth their further agreement between them regarding the sale of the Subject Property 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 is 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 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. Notwithstanding anything in the Subject Contract the Buyer agrees to and shall pay for the costs of the title commitment, survey fee and all title company fees, including closing fees, CPL and policy tax. For purposes of clarification, Seller will be providing a tax credit as provided in the contract, shall pay the final water bill, and shall pay Seller attorney fees. IN WITNESS WHEREOF, Seller and Buyer have entered into and executed this Rider to as of the date and year first written above. BUYER: SELL E CITY OF ELGIN �7( 1Zohert O. Werrbach "Crust B`r. City Manager FA egal DepAReal EstateTider-658 McBride-Werrbach Trust-7-10-18.docx