HomeMy WebLinkAbout79-0228 Railroad (2) 1• v^Oc
RESOLUTION
AUTHORIZING THE PURCHASE OF CERTAIN REAL ESTATE FROM
THE CHICAGO AND NORTHWESTERN TRANSPORTATION COMPANY
WHEREAS, it is necessary and desirable to provide suitable off-street
parking space for city employees in the vicinity of the municipal building;
and
WHEREAS, the Chicago and Northwestern Transportation Company is the
owner of certain premises located at the northwest corner of the intersec-
tion of Brook Street and North Street in the City of Elgin; and
WHEREAS, the Chicago and Northwestern Transportation Company is willing
to sell said premises; and
WHEREAS, it is in the best interest of the City of Elgin to acquire said
premises.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS, that Leo I . Nelson, City Manager, and Marie Yearman, City Clerk,
be and are hereby respectively authorized and directed to execute, on behalf
of the City of Elgin, an offer to purchase said premises for the sum of
twenty-three thousand six hundred twenty-five dollars, a copy of which is
attached hereto and made a part hereof by reference.
Richard L. Verbic, Mayo
r
Presented: February 28, 1979
Adopted:
Vote: Yeas Nays
Recorded:
Attest:
Nancy L. Johnson, Acting City Clerk
G(7)
OFFER TO PURCHASE
4 ,
•
. CHICAGO AND NORTH WESTERN TRANSPORTATION COMPANY
400 WEST MADISON STREET
CHICAGO. ILLINOIS 60606
ATTENTION MR I ROBERT BALLIN
VICE PRESIDENT-
MATERIALS AND REAL ESTATE
GENTLEMEN
THE UNDERSIGNED (HEREINAFTER CALLED THE •'BUYER ) HEREBY OFFERS AND AGREES 10 P4, PCI--;-,SE FFC,'-' ..*,:.:,Cc.'.•
OF E F R TO
BOY PAN', (HEREINAFTER CALLED THE "SELLER") THE INTEREST OF THE SELLER IN THE PEAL EST A1E A,.T.. a-F7-. 'N '-••• -v I'.'L. a. F
OP Elgin COUNTY OF Kane /0.,[7 STATE C_JF I I linois
--------
st-,c,NN OUTLINED IN—yell-Ow--- COLOR ON THE MAP MARKED FIBIT A VeHI(.'1-1 •A al^,..• — _.: ,,,,.-7,-: :.• •••••.
MADE A PART HEREOF(SAID REAL ESTATE BEING HEREINAFTER CALLED -SA'L. PREMISES , A- THE F1IC:i7 A .17 • ," • -.--• -FJ•-,
CC,ND17,0'.5 HEREIN INCLUDING THOSE SET FORTH ON THE REVERSE SIDE HEREOF AN: r-,'• 'HE %-:"
• E. ,F P ACP FE -0 Pas' SF .0 ER A T TAL PURCHASE PRICE OF TWENTY-_THREE_THOUSAND SIX
Q
HUNDRED TWENTY-F1VE DO LLARS_($231 625.00)
TWO THOUSAND FOUR HUNDRED DOLLARS_($200.00)
,,,,,,,,,,, CALL F:, THE 'DEPOSIT', IS PAID HEREWITH TC-. TIE SELLER TO BE RE ALL'.I)E.T.'. IF THIA. OFFER - '. .' AC' r rTE7 S Y
SELLER WITHIN NINETY (901 DAYS FROM THE DATE THIS OFFER ,..S.MADE.OTHEPW"SE TO PE APPI ,FIT)ON THE r- - -AsE rI-• -E. ---,A
Pc LANCE Or THE PLIRCHAFF PRICE IS TO BE PAID TO THE SELLER AT SELLS R.'S OFFICE WITHIN 11.11RTY 130. DAYS C'
OFFEQ':. :=CCEW-E'2,P` ,L-L.L ER PROVIDEi.,THE SELLERS DEEDS THEN AC-'.7:FOR DEL RIFF'
(without documentary stamps which buyer agrees to purchase and to affix to deed) subject to
co..,F YA','E 2 SELLER SHAL; CONVEY OR CAUSE SAID PREmISES 'O BF CONVEYED TO L •r r•-( E, C: -." .A '-' .. :.( 1 XXX -- - F.'-7.-7'•
(sr. T•CNE, AND RESERLATIONS AND t.:PON THE TERMS AND CONDITIONS CONTAINED IN THIS CLEF- -,--; _••••"••• 'C '. -- I • . ,-- ••__..
.7.7.p:•Er;-...-y 'HE Si. 'EP AR RHOWN BELOW UNLESS BUYER SHALL DESIGNATE SOME OTHER PARTY BY W --r F .`.'_.- CE TO SC., ER .. '. . =TE7 •
-=;.•DAYS AFTF.R THE ACCEPTANCE OF THIS OFFER BUYER GUARANTEES PERcORMANCE Bv c (-- c-..--HER PA:- • • •• A__ -7-_,.•...--: : ,-
•70NDITIONS HEREOF A DRAFT OF THE DEED WITH A DESCRIPTION CA SAID PREMISES SHAL L Iz-: I--,•P":ISHS E. -1, -EA -•-- --E. - ',_
Or ACC E-PTANCE OF THIS OFFER E.LYER SHALL HAVE THE R,GH1 TO HAVE SAID PREMISES 5( ,- , F 7 7.• A PI.T ':-- ,..7::,S: '-•.• •7; .--
7-',.•NLR E. ROLE COST AND EXPENSE BY SERVING WRITTEN NOTICE ON SELL EP OF MEYER'S IN1(..—.—C..^. 7:- OBTA:'4 ,,.. SI.-='."..=•• -••-• = '. _
ICE TO BE SERVED WITHIN TEN(10)DAYS ATER THE DATE OF SERVICE OF THE AEIOREMENTIONED DRArT OF DEED A "DP "-
SI IRVE,'SHALL THEN BE SERVED UPON THE SELLER WITHIN FORTY(4C),DAYS AFTER THE DATE OF SERVICE OA'EHL DP:••=7 OF t. F.F_
THE DESCRIPTION OF SAID PREMISES ACCORDING TO SUCH SURVEY SHALL BE CONCLUSIVE UPON THE PARTIES BUT-.r- F2'.--F A IA--A _
FAIL 10 GIVE NOTICE OR FAIL TO FURNISH A SURVEY ALL AS HEREIN PROVIDED THE DESCRIPTION IN THE DRAFT OP DE.E0 S-aLL E-.:
CONCLUSIVE IF BUYER SHALL HAVE COMPLIED WITH THE AFORESAID PROVISIONS IN RESPECT TO A SURVEY THE TIME CA AAYME%-r
THE BALANCE BALANCE CA tHE PURCHASE PRICE SHALL BE EXTENDED FOR A PERIOD OF FORTY 1401 DAYS
SE..t EP S 3 THIS OFFER AND ANY CONVEYANCE TO BUYER HEREUNDER SHALL NOT INCLL:DE RAILPoAr -RAP.:. AN:. AFP.,JPTE-
7E,,:KS ANT:". NANO ES THERETO.BUILDINGS OR ANY OTHER IMPROVEMENTS ON SAID PREMISES OWNED BY SELLER.ALL C .'..H,C.- VA'BE REMOVES)
.5'.(t DINGS BY SELLER WITHIN NINETY (901 DAYS 'WEATHER PERMITTING) AFTER wR!TTEN DEMAND BY BUYER TOLLOAING THE PAYMENT OF -rkE
TOTAL PURCHASE PRICE. AND IF NOT SO REMOVED WITHIN SAID PERIOD SHALL BF DEEMED ABANDONED BY SELLER IALTHOLIT Ce_i-
GATION ON SELLER'S PART AND SHALL THEREAFTER BE AND BECOME BUYER'S PROPERTY IN PLACE
L,0•_'IDATEC 4 TIME IS OF THE ESSENCE OF THIS AGREEMENT, AND IF BUYER SHALT DEFAULT OR FAIL TO PERFORM THIS AC:rEEME^-(T
DAMAGES AND
WITHIN THE TIME LIMITS HEREIN SPECIFIED.SELLER MAY.AT ITS ELECTION. RE1AIN THE DEPOSIT AS AGREED LIQUIDATED DAMAGES
SPEC'IF IC
AND JUST COMPENSATION.AND NOT AS A PENALTY OR FORFEITURE. AND DECLARE THIS AGREEMENT TERMINATED OR PROCEED TO
PERFORMANCE HAVE THIS AGREEMENT SPECIFICALLY ENFORCED.
REAL ESTATE 5 BUYER HEREBY WARRANTS THAT BUYER DID NOT ENGAGE OR USE THE SERVICES OF ANY REAL ESTATE BROKER OR.
COMMISSION AGENT IN ANY MANNER WHATSOEVER IN CONNECTION WITH SAID PREMISES
ACCEPTANCE 6 THIS OFFER WHEN ACCEPTED AS HEREINABOVE PROVIDED SHALL CONSTITUTE THE ENTIRE AGREEMENT BETWEEN
OF OFFER THE PARTIES FOR THE SALE AND PURCHASE OF SAID PREMISES AND SHALL THEREAFTER BE BINDING UPON AND INURE TO THE BENE-
CONSTITUTES FIT OF THE SELLER AND THE BUYER.THEIR HEIRS.ADMINISTRATORS.SUCCESSORS AND ASSIGNS.
CONTRACT
See Paragraphs 7, 8, 9, 10, 11 and 12 of the Addendum attached hereto and made a part hereof.
THIS OFFER AS SUPPLEMENTED BY ADDENDUM CONSISTING OF ONE (1) PAGE'S) ATTACHED HERETO
HAS BEEN MADE. SIGNED AND SEALED BY THE BUYER THIS DAY OF 19—.-
WITNESS
(SEAL)
ADDRESS
. . ,
_
ADDRESS OF BUYER
0 ADDRESS
(BUYER SHOULD CLEARLY SET FORTH FULL AND CORRECT NAMES OF PARTY OR PARTIES TO WHOM TITLE WILL BE CONVEYED.THEIR
ADDRESS. THEIR RELATIONSHIP IF ANY. AND WHETHER CONVEYANCE IS TO BE IN JOINT TENANCY OR OTHERWISE.AND IF A COMPANY.
WHETHER IT IS A PARTNERSHIP. 00t OR CORPORATION.ADDRESS OF PRINCIPAL OFFICE.AND IF A CORPORATION.STATE OF INCOR-
PORATION.CORRECT CORPORATE NAME.CAUSE OFFER TO BE EXECUTED AND ATTESTED BY APPROPRIATE CORPORATE OFFICIALS.)
THE FOREGOING OFFER IS ACCEPTED BY SELLER THIS DAY OF 19—
CHICAGO AND NORTH WESTERN TRANSPORTATION COMPANY
ATTEST,
BY
ASSISTANT SECRETARY VICE PRESIDENT
ORIGINAL I
•
ADDENDUM TO OFFER TO PURCHASE
THE OFFER TO PURCHASE REAL ESTATE SITUATED AT Elgin, Kane County, Illinois
MADE BY ON TO WHICH THIS ADDENDUM IS
ATTACHED 15 SUPPLEMENTED AS FOLLOWS:
LEASES
LESSEE LEASE NO EXPIRATION DA,I RENT DISPOSITION(CANCEL. ASSIGN OR REVISEI
Elgin Lumber & Supply Co. 79604 30 days $300/A, Assign (See Paragraph 7)
(9-1 -81) plus taxes,
if any
7, Lease No. 79604 in favor of Elgin Lumber & Supply Company will be assigned to the Buyer
under the same terms and conditions that are presently contained in the lease. Unearned
rental will be prorated to date of consummation of the sale.
8. Seller shall reserve the area shown shaded in green color on the attached print marked Exhibit
"A" for the continued operation of Seller's team track facility said reservation to continue in
effect until such time as the team way and adjacent team track are no longer required for rail-
road purposes, and Seller has removed the team track.
9. Seller's deed shall stipulate that the use of said premises shall be restricted to automobile
parking purposes only.
10. Buyer agrees to assume the total cost of erecting and maintaining a fence along the southwesterly
boundary line of the area shown shaded in green color on the attached print if, subsequent to
the conveyance, a fence is deemed necessary by Seller, its successors or assigns, or any govern-
mental body having jurisdiction.
11 . Seller makes no warranties or representations, expressed or implied, concerning rail service to
xxxxxxxx said premises.
X300.0 xxxxxxxxxxxxxxxxxxxxX3t3fXX*XXXxxxxXXXXXXXXXXXXkxxxxxk5t4cxxxxxXXXXX tXXXXXXXXXkx9fWX3cx3fXXXXXkx
12. Buyer shall, all at Buyer's sole expense, take all steps necessary to comply with any and all
governmental requirements relating to land division or use.
ORIGINAL I
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