14-47 Resolution No. 14-47
RESOLUTION
AUTHORIZING EXECUTION OF A REAL ESTATE SALE CONTRACT
FOR THE PURCHASE OF 1238 CEDAR AVENUE
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS,
that Sean R. Stegall, City Manager, be and is hereby authorized and directed to execute a real
estate sale contract on behalf of the City of Elgin with Gary K. Bohlin and Cynthia L. Bohlin for
the purchase of the property commonly known as 1238 Cedar Avenue for $140,000, a copy of
which is attached hereto and made a part hereof by reference.
s/ David J. Kaptain
David J. Kaptain, Mayor
Presented: April 9, 2014
Adopted: April 9, 2014
Vote: Yeas: 8 Nays: 0
Attest:
s/ Kimberly Dewis
Kimberly Dewis, City Clerk
I MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 4.0 A
!OWL“001aNG
REALTOR'
1 1. THE PARTIES: Buyer and Seller are hereinafter referred to as the-Parties".
2
3 Buyer(s)(Please Print) City of Elgin,a municipal corporation
4
5 Seller's)(Please Print) Gary K. Bohlin and Cynthia L. Bohlin,as owners of record
6
7 If Dual Agency applies,complete Optional Paragraph 41.
8
9 2. THE REAL ESTATE: Real Estate shall be defined to include the Real Estate and all improvements thereon. Seller
10 agrees to convey to Buyer or to Buyer's designated grantee. the Real Estate with the approximate lot size or acreage
11 of 50'x 120' commonly known as:1238 Cedar Avenue, Elgin, Illinois 60120
12 Address City State Zip
13 Kane N/A 06-01-376-007 __
14 County Unit #(if applicable) Permanent Index Number(s)of Real Estate
15
16 If Condo/Coop/Townhome Parking is Included: #of spacers) ; identified as Space(s) #
17 (check type) ❑ deeded space; ❑ limited common element: ❑ assigned space
18
19 3. FIXTURES AND PERSONAL PROPERTY: All of the fixtures and personal property stated herein are owned by
20 Seller and to Seller's knowledge are in operating condition on the Date of Acceptance, unless otherwise stated herein.
21 Seller agrees to transfer to Buyer all fixtures, all heating. electrical, plumbing and well systems together with the
22 following items of personal property by Bill of Sale at Closing:/Check or enumerate applicable items/
23 Reingeratur /All racked Donn Carpeting Fireplace Screens)/Door(skGrrtels1 Central Air Conditioning
24 _ Oven;Range'Store 7AII Window treatments&Hardware Fireplace(,as t ot_s (-Icctromc or Media Air Filter
25 \lierowave 1 Built-in or Attached She!.me Cy'sung Storms&Sere ns Central Ilumiditier
26 _Duh.xashei Smoke Detector(s i Security Ssstem(s)(owned) Sump Pump(si
27 Garbage Disposal Ceiling Fan(s) - Intercom System Water Softener(owned)
28 _- I lash Compactor I V Antenna Ssslem --Central Vac&I.yuipment Outdoor Shed
29 Washer - Window Air Conditioner(sl I_lecuonte Garage Door Opener(st Attached Gas(■ ll
30 I)n;r L Planted Vegetation with all I-Iansmitterls) _I fight I-'stores.au the\ csi,t
31 Satellite Dish Outdoor Playsets Im ie1ble Fence System.Collar(:)and Box Home Warrants $ _
32 Other items included: _
33 Items NOT included:
34 ' - . . . - =
35
36 • • . .
37 . . - - = - -. - - ' - • -
38
39 4. PURCHASE PRICE: Purchase Price of S 140,000.00 shall be paid as follows:4htt4ial•
40 cnrncct money of$ by ❑ chuck. ❑ =ash OR ❑ nolg dt.Fe or 'tl__
41 ; - -- -
42 . ' . - -- -. - --. . . .,.
43 Parties. The +nua-of.tiw Purchase Price, as adjusted by prorations. shall he 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)_
46
47 5. CLOSING: Closing or escrow payout shall he on May 30 . 20 14 , 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
49 geographically nearest the Real Estate or as shall be agreed mutually by the Parties.
50
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.
Duce, Initial Bayer Irriliul .Seitt:r InilTnl .Slier Iniliul
Address 1238 Cedar Avenue, Elgin, Illinois 60120 _ ,
Page 1 of 11
54 7. RESIDENTIAL REAL ESTATE AND LEAD-BASED PAINT DISCLOSURES: if applicable, prior to signing
55 this Contract. Buyer/check one/❑ has has not received a completed Illinois Residential Real Propert Disclosure
56 Report;[check one/❑ has has not received the EPA Pamphlet, "Protect Your Family From Lead in Your Home":
57 (check one/❑ has has not received a Lead-Based Paint Disclosure.
58
59 8. PROBATIONS: Proratable items shall include, without limitation, rents and deposits (if any) from tenants. Special
60 Service Area tax for the year of closing only, utilities, water and sewer. and homeowner or condominium association
61 fees (and Master/Umbrella Association fees, if applicable). Accumulated reserves of a Homeowner/Condominium
62 Associationts) are not a proratable item. Seller represents that as of the Date of Acceptance Homeowner/Condominium
63 Association(s)fees are$N/A per N/A (and, if applicable, fees for a Master/Umbrella Association are
64 $N/A per N/A ). Seller agrees to pay prior to or at Closing any special assessments(governmental or
65 association)confirmed prior to Date of Acceptance. Installments due after the year of Closing for a Special Service Area
66 shall not be a proratable item. The general Real Estate taxes shall be prorated as of the date of Closing based on
67 105 % of the most recent ascertainable full year tax bill. All prorations shall be final as of Closing, except as
68 provided in Paragraph 20. If the amount of the most recent ascertainable tax bill reflects a homeowner. senior citizen or
69 other exemption. Seller has submitted or will submit in a timely manner all necessary documentation to the Assessor's
70 Office, before or after Closing,to preserve said exemptiontst.
71
72 9. ATTORNEY REVIEW: The respective attorneys for the Parties may approve. disapprove. or make modifications to
73 this Contract, other than stated Purchase Price. within five (5) Business Days after the Date of Acceptance. Disapproval
74 or modification of this Contract shall not be based solely upon stated Purchase Price. Any notice of disapproval or
75 proposed modilicationtsi by any Party shall be in writing. If written notice is not served within the time specified,this
76 provision shall be deemed waived by the Parties and this Contract shall remain in full force and effect. If prior to
77 the expiration of ten (10) Business Days after Date of Acceptance,written agreement is not reached by the Parties
78 with respect to resolution of proposed modifications, then this Contract shall be null and void.
79
80 10. PROFESSIONAL INSPECTIONS: Buyer may secure at Buyer's expense (unless otherwise provided by
81 governmental regulations) a home, radon, environmental, lead-based paint and/or lead-based paint hazards (unless
82 separately waived). and/or wood destroying insect infestation inspectiontst of said Real Estate by one or more licensed
83 or certified inspection servicetst. Buyer shall serve written notice upon Seller or Seller's attorney of any defects
84 disclosed by the inspectiontst which are unacceptable to Buyer. together with a copy of the pertinent pagosr of the
85 repot-16J within five (5) Business Days (ten (10) calendar days for a lead-based paint and/or lead-based paint hazard
86 inspection)after Date of Acceptance. if written notice is not served within the time specified, this provision shall be
87 deemed waived by the Parties and this Contract shall remain in full force and effect. If prior to the expiration of
88 ten (10) Business Days after Date of Acceptance, written agreement is not reached by the Parties with respect to
89 resolution of inspection issues, then this Contract shall be null and void. The home inspection shall cover only
90 major components of the Real Estate, including but not limited to. central heating systemtsr, central cooling system(s).
91 plumbing and well system, electrical system, roof wall,. windows, ceilings, floors, appliances and foundation. A major
92 component shall he deemed to be in operating condition it'it performs the function for which it is intended, regardless of
93 age. and does not constitute a threat to health or safety. The fact that a functioning component may be at the end of its
94 useful life shall not render such component defective for the purpose of this paragraph. Buyer shall indemnity Seller
95 and hold Seller harmless from and against any loss or damage caused by the acts or negligence of Buyer or any person
96 performing any inspectiontst. Buyer agrees minor repairs and routine maintenance items are not a part of this
97 contingency. If radon mitigation is performed, Seller shall pay for a retest.
98
99 = - - ■ ■
100 Disclosure (see page 11). This Contract is contingent upon Bu 'er I ,'•• - •• • mortgage commitment
101 (except for matters of title and • . wi in Buyer's control) on or before . 20
102 � —
Buyer in+iif,I Bur inilirtl Se ti./rrticf! �'el/er/�iti rl_
Address 1238 Cedar Avenue, Elgin, Illinois 60120
Page 2 of 11
103 goan of or loch leaazr amount as [luycr clectato taltc. ,Ilea private mortgage insuranee (PAW)
104 required. The interest rate (initial rate. if applicable) shall not exceed % per annum, amortized over not -. tan
105 years. Buyer shall pay loan origination fee and/or discount points not to exceed % of tl _ an amount.
106 Buyer shall pay the cost of application, usual and customary processing fees and closing costs -. ged by lender. of
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 spec[ •. above, is unable to obtain such loan
110 commitment and serves written notice to Seller within the time s • ' ed, this Contract shall he null and void. If
I l l written notice of inability to obtain such loan commitment i - • 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 • se contingent upon the sale and/or closing of Buyer's existing
114 real estate. Buyer shall be deemed to hav• [stied the financing conditions of this paragraph if Buyer obtains a loan
115 commitment in accordance with the • ns of this paragraph even though the loan is conditioned on the sale and/or
116 closing of Buyer's existing r - state. if Seller at Seller's option and expense. within thirty (30) days after Buyer's
117 notice, procures for Bu _ .uch commitment or notifies Buyer that Seller will accept a purchase money mortgage upon
118 the same terms.t ontract shall remain in full force and effect. In such event, Seller shall notify Buyer within five (5)
119 Business : after Buyer's notice of Seller's election to provide or obtain such financing. and Buyer shall furnish to
120 Sel r lender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to
121 _ , - .
122
123 - - - - .
124 Insurance Service Organization Homeowner 3 (ISOHO3) or applicable e.uiv. •• •• - . " •rre. Premium rates
125 within ten (10) Business Days after Date of Ac •• .• •- • . •• is unable to obtain evidence of insurability and
126 serves written n► ' • • • .. . •me to Seller within the time specified, this Contract shall be null and void. If
127 • i o ice is not served within the time specified,Buyer shall be deemed to have waived this contingency and
128
129
130 • • 111 . . ..._ . ..
131 Buyer shall have the option to declare this Contract null and void if the Real Estate is loc. •• .- : .• ra flood hazard
132 area which requires Buyer to carry flood insurance. If written notic• . • • . . s o declare this Contract null and
133 void is not given to Seller within ten (10) Busi • 6 • • er 1 ate of Acceptance or within the term specified in
134 Paragraph 11 (whichever i • • . ' •• s all be deemed to have waived such option and this Contract shall
135 remain -1 . : . effect. Nothing herein shall be deemed to affect any rights afforded by the Residential Real
136 •
- •- - - - -
137
138 __ _ - - -- . .
139 contained in this paragraph, which may he contrary to other terms of this Contract, shall supersede any conllicti -rms.
140 (a) Title when conveyed shall he good and merchantable, subject to terms, provisions, covenants • onditions of
141 the Declaration of Condominium/Covenants,Conditions and Restrictions and all amens s; public and utility
142 easements including any easements established by or implied from the Declarat. Condominium/Covenants,
143 Conditions and Restrictions or amendments thereto; party wall rights an eernents: limitations and conditions
144 imposed by the Condominium Property Act; installments due a' re date of Closing of general assessments
145 established pursuant to the Declaration of Condominium/ : ••nants,Conditions and Restrictions.
146 (b) Seller shall be responsible for all regular arse - cuts due and levied prior to Closing. and for all special
147 assessments confirmed prior to the Date o'- " eptance.
148 (c) Buyer has, within live(5) Busines -.ys from the Date of Acceptance, the right to demand from Seller items as
149 stipulated by the Illinois .ominium Property Act. if applicable. and Seller shall diligently apply for same.
150 This Contract is su.• to the condition that Seller be able to procure and provide to Buyer- a release or waiver
151 of any o. • of first refusal or other pre-emptive rights of purchase created by the Declaration of'
152 Co : inium/Covenants, Conditions and Restrictions within the time established by the Declaration of
153 . .. . '. . - . _ : ' -: - -- _ . _.
Ruvvr Initii•I Rvj,vr Injfiol co Ile r (yritk . cti1It r Initial
Address 1238 Cedar Avenue, Elgin, Illinois 60120
Page 3 of 11
154 -. . • . . . - .. • . ._
155 (d) in the event the documents and information provided by Seller to Buyer disclose that • : tsting improvements
156 are in violation of existing rules, regulations or other restrictions or that - rms and conditions contained
157 within the documents would unreasonably restrict Buyer's use • e premises or would result in increased
158 financial obligations unacceptable to Buyer in conn with owning the Real Estate. then Buyer may
159 declare this Contract null and void by :i ,e ler written notice within five (5) Business Days after the
160 receipt of the documents and in . ton required by Paragraph 14 (c), listing those deficiencies which
161 are unacceptable to B . written notice is not served within the time specified, Buyer shall be deemed
162 to have waiv contingency,and this Contract shall remain in full force and effect.
163 (e) Sel . not he obligated to provide a condominium survey.
164 — - . - _ . . . . . - - - . . • . :
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 he paid by Seller (unless
169 otherwise designated by local ordinance), Title when conveyed will he 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 he 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 (I) 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 hack 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 he a boundary' survey conforming to the current requirements of the appropriate
193 state regulatory authority. The survey shall show all corners 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 conforms 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 he 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
Rinwr Iniiiirl Lit'j-ej Initial Seller/Willa! Seller lnit441 S
Address 1238 Cedar Avenue, Elgin, Illinois 60120
Page 4 of 11
205 19. DAMAGE TO REAL ESTATE PRIOR TO CLOSING: If, prior to delivery of the deed, the Real Estate shall be
206 destroyed or materially damaged by fire or other casualty, or the Real Estate is taken by condemnation.then Buyer shall
207 have the option of either terminating this Contract (and receiving a refund of earnest money) or accepting the Real
208 Estate as damaged or destroyed, together with the proceeds of the condemnation award or any insurance payable as a
209 result of the destruction or damage. which gross proceeds Seller agrees to assign to Buyer and deliver to Buyer at
210 closing. Seller shall not be obligated to repair or replace damaged improvements. The provisions of the Uniform Vendor
211 and Purchaser Risk Act of the State of Illinois shall be applicable to this Contract, except as modified in this paragraph.
212
213 20. REAL ESTATE TAX ESCROW: In the event the Real Estate is improved. but has not been previously taxed for
214 the entire year as currently improved, the sum of three percent (3 0/0) of the Purchase Price shall he deposited in escrow
215 with the title company with the cost of the escrow to be divided equally by Buyer and Seller and paid at Closing. When
216 the exact amount of the taxes prorated under this Contract can he ascertained. the taxes shall be prorated by Seller's
217 attorney at the request of either Party.and Seller's share of such tax liability after reproration shall be paid to Buyer from
218 the escrow funds and the balance, if any. shall be paid to Seller. If Seller's obligation after such reproration exceeds the
219 amount of the escrow funds, Seller agrees to pay such excess promptly upon demand.
220
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
223 not been corrected; (h) 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 the case of a special assessment and/or Special Service Area,the following applies:
226 I. There/check one/is ❑ is not WI a proposed or pending unconfirmed special assessment affecting the Real
227 Estate not payable by Seller after date of Closin .
228 2. The Real Estate[check one]is ❑ is not f1la located within a Special Service Area, payments for which will
229 not be the obligation of Seller after date of Closing.
230 If any of the representations contained herein regarding non-Homeowner Association special assessment or
231 Special Service Area are unacceptable to Buyer, Buyer shall have the option to declare this Contract null and
232 void. If written notice of the option to declare this Contract null and void is not given to Seller within ten (10)
233 Business Days after Date of Acceptance or within the term specified in Paragraph 11 (whichever is later), Buyer
234 shall be deemed to have waived such option and this Contract shall remain in full force and effect. Seller further
235 represents that Seller has no knowledge of boundary line disputes, easements or claims of easement not shown by the
236 public records, any hazardous waste on the Real Estate or any improvements for which the required permits were not
237 obtained. Seller represents that there have been no improvements to the Real Estate which are not either included in full
238 in the determination of the most recent real estate tax assessment or which are eligible for home improvement tax
239 exemption.
240
241 22. CONDITION OF REAL ESTATE AND INSPECTION: Seller agrees to leave the Real Estate in broom clean
242 condition. All refuse and personal property that is not to be conveyed to Buyer shall be removed from the Real Estate at
243 Seller's expense before possession. Buyer shall have the right to inspect the Real Estate, fixtures and personal property
244 prior to possession to verify that the Real Estate, improvements and included personal property are in substantially the
245 same condition as of the Date of Acceptance, normal wear and tear excepted.
246
247 23. GOVERNMENTAL COMPLIANCE: Parties agree to comply with the reporting requirements of the applicable
248 sections of the Internal Revenue Code and the Real Estate Settlement Procedures Act of 1974. as amended.
249
250 24. BUSINESS DAYS/HOURS: Business Days are defined as Monday through Friday. excluding Federal holidays.
251 Business Hours are defined as 8:00 A.M.to 6:00 P.M. Chicago time.
252
253 25. FACSIMILE: Facsimile signatures shall be sufficient for purposes of executing, negotiating. and finalizing this
254 Contract.
r /ni t
I—B Address 1238 Cedar Avenue, Elgin, Illinois 60120
Page 5 of 11
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 Party,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 court 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 Party or attorney. Notice to any one of a multiple person Party shall he 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 he effective on the date of
265 mailing; or
266 (c) By sending facsimile transmission. Notice shall he effective as of date and time of facsimile transmission,
267 provided that the Notice transmitted shall be sent on Business Days during Business flours. 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 he 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 •-. •• ' •• • '
280 .. - . . - .. . •- . _ - • - 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 tiling 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 tiling 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:This Contract is also subject to
294 the provisions of the Rider to the Real Estate Contract for the sale of 1238 Cedar,Elgin,Illinois 60120,attached hereto and made a part of this Contract
295
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/cheek 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) (check one/ ❑ is ❑ is not subject to a mortgage contingency.
Buyer(Milian Buyer Initial Seller Initial Seller Initial_ _
Address 1238 Cedar Avenue, Elgin, Illinois 60120
Page 6 of 11
306 (b) /check one/ ❑ is❑ is not subject to a real estate sale contingency.
307 (c) /check one/ ❑ is❑ is not subject to a real estate closing contingency.
308 (3) Buyer/check one/❑ has ❑ has not listed said real estate for sale with a licensed real estate broker and in a local multiple
309 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.
31 1 Buyer/check one/
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 (h) ❑ 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 (I) This Contract is contingent upon Buyer having entered into a contract for the sale of Buyer's real estate that 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 in 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 sale of Buyer's real estate is
330 served before the close 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 31,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 (13)(1)
335 (or after the date of this Contract if no date is set forth in Paragraph 31 (B)(I)), 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 slate of notice. If
338 written notice as required by this subparagraph is not served within the time specified, Buyer shall 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 tide 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-out" 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 3I (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
Banker Initial Buyer / 4ittl Sdfer Itrtfrtxl
Address 1238 Cedar Avenue, Elgin, Illinois 60120
Page 7 of 11
360 Paragraph 27 of this Contract.
361 (6) Buyer waives any ethical objection to the delivery of notice under this paragraph by Seller's attorney or representative.
362 (D)WAIVER OF PARAGRAPH 31 CONTINGENCIES: Buyer shall be deemed to have waived the contingencies in Paragraph
363 31 (B)when Buyer has delivered written waiver and deposited with the Escrowee the additional sum of$_
364 earnest money within the time specified. If Buyer fails to deposit the additional earnest money within the time specified, the
365 waiver shall be deemed ineffective and this Contract shall be null and void.
366 (E) BUYER COOPERATION REQUIRED: Buyer authorizes Seller or Seller's agent to verify representations contained in
367 Paragraph 31 at any time,and Buyer agrees to cooperate in providing relevant information.
368
369 32. CANCELLATION OF PRIOR REAL ESTATE CONTRACT: In the event either Party has entered
370 into a prior real estate contract. this Contract shall be subject to written cancellation of the prior contract on or before
371 . 20 . In the event the prior contract is not cancelled within the time specified,this Contract shall be
372 null and void. Notice to the purchaser under the prior contract should not he served until after Attorney Review and
373 Professional Inspections provisions of this Contract have expired,been satisfied or waived.
374
375 33. CLOSING COST CREDIT: Provided Buyer's lender permits such credit to show on the HUD-1
376 Settlement Statement, and if not, such lesser amount as the lender permits, Seller agrees to credit to Buyer
377 $ at closing.
378 - -------
379 34. INTEREST BEARING ACCOUNT Earnest money (with a completed W-9 and other required forms).
380 shall be held in a federally insured interest bearing account at a financial institution designated by Escrowee. All interest earned on
381 the earnest money shall accrue to the benefit of and be paid to Buyer. Buyer shall be responsible for any administrative fee(not
382 to exceed$100)charged for setting up the account. In anticipation of Closing,the Parties direct Escrowee to close the account no
383 sooner than ten(10)Business Days prior to the anticipated Closing date.
384
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,
389 the Mortgage Insurance Premium(MIP)shall be paid by Buyer and/check one/❑ shall ❑ shall not be added to the mortgage loan
390 amount. Seller agrees to pay additional miscellaneous expenses required by lender not to exceed $200.0(1. Required FHA or VA
391 amendments shall be attached to this Contract. It is expressly agreed that notwithstanding any other provisions of this Contract.
392 Buyer shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture of earnest
393 money deposits or otherwise unless Buyer has been given. in accordance with HUD/FHA requirements. a written statement by the
394 Federal (lousing Commissioner setting forth the appraised value of the property (excluding Closing costs) of not less than
395 $ . Buyer shall have the privilege and option of proceeding with the consummation of the Contract
396 without regard to the amount of the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage
397 the Department of Housing and Urban Development will insure/guarantee. HUD and the mortgagee do not warrant the value nor the
398 condition of the property. Buyer should satisfy himself7herself that the price and condition of the property are acceptable.
399
400 _ 36. INTERI M FINANCING: This Contract is contingent upon Buyer obtaining a written commitment for
401 interim financing on or before , 20 in the amount of$ . If Buyer is unable
402 to secure the interim financing commitment and gives written notice to Seller within the time specified,this Contract shall he
403 null and void. If written notice is not served within the time specified, this provision shall be deemed waived by the Parties
404 and this Contract shall remain in full force and effect.
405
406 37. WELL AND/OR SEPTIC/SANITARY INSPECTIONS: Seller shall obtain at Seller's expense a well
407 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
408 lead test for FHA loans) and/or a septic report from the applicable County Health Department, a Licensed Environmental Health
409 Practitioner,or a licensed well and septic inspector,each dated not more than ninety(90)days prior to Closing,stating that the well
410 and water supply and the private sanitary system are in proper operating condition with no defects noted. Seller shall remedy any
411 defect or deficiency disclosed by said report(s)prior to Closing;provided that if the cost of remedying a defect or deficiency and the
412 cost of landscaping together exceed$3,000.00,and if the Parties cannot reach agreement regarding payment of such additional cost,
413 then this Contract may be terminated by either Party. Additional testing recommended by the report shall be obtained at Seller's
414 expense. If the report recommends additional testing after Closing,the Parties shall have the option of establishing an escrow with a
Buyer Initial Buyer initial Scl/r Initial Seller Initial
Address 1238 Cedar Avenue, Elgin, Illinois 60120
Page 8 of 11
415 mutual cost allocation for necessary repairs or replacements,or either Party may terminate this Contract prior to Closing. Seller shall
416 deliver a copy of such evaluations)to Buyer not less than one(1)Business Day prior to Closing.
417
418 38. WOOD DESTROYING INFESTATION: Notwithstanding the provisions of Paragraph 10,within ten
419 (10) Business Days after the Date of Acceptance,Seller at Seller's expense shall deliver to Buyer a written report, dated not more
420 than six(6)months prior to the date of Closing,by a licensed inspector certified by the appropriate state regulatory authority in the
421 subcategory of termites, stating that there is no visible evidence of active infestation by termites or other wood destroying insects.
422 Unless otherwise agreed between the Parties, if the report discloses evidence of active infestation or structural damage, Buyer has
423 the option within five(5) Business Days of receipt of the report to proceed with the purchase or declare this Contract null and void.
424 This paragraph shall not apply to condominiums or to newly constructed property having been occupied for less than one year
425 following completion of construction.
426
427 39. POST-CLOSING POSSESSION: Possession shall be delivered no later than 1 1:59 P.M.on the date that
428 is days after the date of Closing("the Possession Date"). Seller shall be responsible for all utilities, contents and liability
429 insurance, and home maintenance expenses until delivery of possession. Seller shall deposit in escrow at Closing
430 with _ ,/choose one/ ❑ one percent(1%)of the Purchase Price or ❑ the sum of$ to
431 be paid by Escrowee as follows: a) The sum of$ per day for use and occupancy from and including the day after
432 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
433 (5)times the daily amount set forth herein shall be paid for each day after the Possession Date specified in this paragraph that Seller
434 remains in possession of the real estate;and c)The balance, if any,to Seller after delivery of possession and provided that the terms
435 of Paragraph 22 have been satisfied. Seller's liability under this paragraph shall not be limited to the amount of the possession
436 escrow deposit referred to above. Nothing herein shall be deemed to create a Landlord/Tenant relationship between the Parties.
437
438-(7 40. AS IS" CONDITION: This Contract is for the sale and purchase of the Real Estate and personal
439 property in its"As Is--condition as of the Date of Offer. Buyer acknowledges that no representations. warranties or guarantees with
440 respect to the condition of the Real Estate and personal property have been made by Selleritoolitiwilliiibiaralia
441 �f c,,. ,,:/,.,_�..., 51
.��� Buyer may conduct an inspection at Buyer's expense. In that event. Seller shall make the
442 property available to Buyer's inspector at reasonable times. Buyer shall indemnify Seller and hold Seller harmless from and against
443 any loss or damage caused by the acts or negligence of Buyer or any person performing any inspectionrst. In the event the
444 inspection reveals that the condition of the improvements, fixtures or personal property to be conveyed or transferred is
445 unacceptable to Buyer and Buyer so notifies Seller within five(5)Business Days after the Date of Acceptance.this Contract
446 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
447 terminate this Contract under this paragraph and this Contract shall remain in full force and effect. Buyer acknowledges the
448 provisions of Paragraph 10 and the warranty provisions of Paragraph 3 do not apply to this Contract.
449
450 41. CONFIRMATION OF DUAL AGENCY: .1 he Parties confirm that they have previously consented to
451 (Licensee)acting as a Dual Agent in providing brokerage sere ices
452 on their behalf and specifically consent to Licensee acting as a Dual Agent with regard to the transaction referred to in this Contract.
453
454 42. SPECIFIED PARTY APPROVAL:This Contract is contingent upon the approval of the Real Estate by
455 , Buyer's specified party,
456 within five(5) Business Days after the Date of Acceptance. In the event Buyer's specified party does not approve of the Real
457 Estate and written notice is given to Seller within the time specified,this Contract shall be null and void. If written notice is
458 not served within the time specified,this provision shall be deemed waived by the Parties and this Contract shall remain in
459 full force and effect.
460
461 _ _ 43. MISCELLANEOUS PROVISIONS: Buyer's and Seller's obligations are contingent upon the Parties
462 entering into a separate written agreement consistent with the terms and conditions set forth herein, and with such additional terms
463 as either Party may deem necessary.providing for one or more of the following. (check applicable haves))
464 ❑ Assumption of Seller's Mortgage ❑ Vacant Land
465 ❑ Commercial/Investment/Starker Exchange ❑ Articles Of Agreement for Deed or Purchase Money
466 ❑ Mortgage
Cooperative Apartment
❑ New Construction
Buyer Initial Rayer Initial Seller Initial _ Seller Initial
Address 1238 Cedar Avenue, Elgin, Illinois 60120
Page 9 of 11
467 THIS DOCUMENT WILL BECOME A LEGALLY BINDING CONTRACT WHEN SIGNED BY ALL
468 PARTIES AND DELIVERED TO THE PARTIES OR THEIR AGENTS.
469
470 The Parties represent that text of this form has not been altered and is identical to the official Multi-Board Residential
471 Real Estate Contract 4.0.
472 A r' 20 14 April 9 . / 20 14
473 Date ),er DATE OF ACCEPTAN
474 LC/ "�.
Seller Signature ,,fit_,,/,,+7
475 Buy Signature Sean . Stegall, City L �h,11�L''lCLGf�•476 Manager el,;V1t
477 Buyer Signature
i4Ter Signature
478 City of Elgin,a municipal corporation Gary K. Bohlin Ad Cynthia L. Bohlin,as owners of record
479 Print Buyer(s)Name(s) (Required' Prmt Seller(s)Name(s) [Required'
480 150 Dexter Court 1211 Forest Drive
481 Address Address
482 Elgin, Illinois 60120 Ellin, Illinois 60123
483 City State Zip City State Zip
484 847-931-5655 847-630-1088 gkbohlin @yahoo.com
485 Phone E-mail Phone E-mail
486 FOR INFORMATION ONLY
487 N/A N/A
488 Selling Office MLS# Listing Office MLS#
489 N/A
490 Buyer's Designated Agent MLS# Sellller's Designated Agent MLS#
1 492 Phone Fax Phone Fax
493 N/A N/A
494 E-mail E-mail
495 William A. Cogley cogley^w @cityofelgin.org Douglas J. Scheflow scheflowrydelll @aol.com
496 Buyer's Attorney E-mail Seller's Attorney E-mail
497 847-931-5659 847-931-5665 847-695-28.0 0 847-695-4547
498 Phone Fax Phone Fax
499 N/A N/A
500 Mortgage Company Phone Homeowner's/Condo Association(if any) Phone
501 N/A N/A
502 Loan Officer Fax Management Co7OtTer Contact Phone
503
504 02006. Illinois Real Estate Lawyers Association. All rights reserved. Unauthorized duplication or alteration of this form or any
505 portion thereof is prohibited. Official form available at www.reallaw.org(web site of Illinois Real Estate Lawyers Association).
506
507 Approved by the following organizations February 2006.
508 Illinois Real Estate Lawyers Association.Aurora Tri-County Association of REALTORS®,Chicago Association of REALTORS'.
509 DuPage County Bar Association, Kane County Bar Association, Lake County Bar Association,McHenry County Association of
510 REALTORS'.North Shore- Barrington Association of REALTORS". Northwest Suburban Bar Association,Oak Park Board of
511 REALTORS", REALTOR" Association of the Fox Valley, REALTOIe Association of the Northwest Chicagoland,
512 Mainstreet Organization of REALTORS*,Three Rivers Association of REAL FORS®,West Towns Board of REALTORS"
513
514
515
5l6
517
518 Seller Rejection: This offer was presented to Seller on 20 at AM/PM
519 and rejected on 20 at AM/PM
520 (Seller initials) (Seller initials)
Buyer Initial Buyer Initial SJle, irritiul Seller Initial
Address 1238 Cedar Avenue, Elgin, Illinois 6.0120
Page 10 of 1 l
521 Loan Status Disclosure NOT APPLICABLE
522
523 = _ - _ - ' _ _ - : _____ . ..:..r:... •..
524 Current Address:
525 Street address
526
527 City or Town State Zip c•.e
528 Purchase Price dollar amount prequalified, pre-approved, or approved for:
529 $ , Loan Amount$ with a total monthly payment not to
530 exceed$
531
532 The current status of prequalification or application status of the borrowers/buyers is:
533
534 [] Prequalification, WITHOUT credit review*:
535 The borrowers/buyers listed on this form have INQUIRED with our firm about financing to !-rchase a home and the
536 documentation they provided regarding income and down payment has been reviewed • the loan originator listed
537 below. It is the opinion of said loan originator that the borrowers/buyers should/would • alify for the terms listed in the
538 attached letter.
539
540 [] Prequalification, WITH credit review*:
541 The borrowers/buyers listed on this form have INQUIRED with our firm abo financing to purchase a home and the
542 documentation of income, down payment and credit report have been r- iewed by the loan originator listed below.
543 After careful review, it is the opinion of said loan originator that the bor .wers/buyers should/would qualify for the terms
544 listed in the attached letter.
545 This Prequalification is []WITH or[]WITHOUT Automated Und; riting approval.
546
547 [] Pre-Approval*:
548 The borrowers/buyers have APPLIED with our firm for a • .rtgage loan to purchase a home and the loan application
549 has been approved by an Automated Underwriting Sys •m issued or accepted by FNMA, FHLMC, HUD or Nationally
550 recognized purchaser/pooler of mortgage loans, an. : conditional commitment has been issued. See attached
551 commitment.
552
553 [] Approval*:
554 The borrowers/buyers have APPLIED wit. our firm for a mortgage loan to purchase a home and the loan application
555 has been reviewed by the actual lender'- underwriter and conditional commitment has been issued. See attached
556 commitment.
557
558 *Please note that nothing contai.-d herein constitutes a loan commitment or guarantee of financing and is used for
559 disclosure purposes only. Se- =ctual commitment letter for specific conditions/requirements of the lender.All approvals
560 are subject to satisfactory -•.'raise',title, and no material change to borrower(s)financial status.
561
562 Information on mortga•- company issuing the prequalification,pre-approval or approval.
563
564 Originating Comp y's Name:
565
566 Company A.• ess:
567 Street address City or Town State Zip Code
568 Compan hone:( )_ Fax:(
569
570 Loa, •riginator's name: Date:
571
572 .. _ •.• - .
573
574 Use Recommended by: IAMB; IAR; and IRELA Rev 10/25/02
Rucnr Inilly/ Bt')=c�•Iritial Seller Initial _ _ Seller Initial
Address 1238 Cedar Avenue, Elgin, Illinois 60120
Page 11 of 11
RIDER TO REAL ESTATE CONTRACT FOR THE SALE OF
1238 CEDAR, ELGIN, ILLINOIS 60120
This Rider to the real estate contract is made and entered into by and between and the
City of Elgin, Illinois, a municipal corporation (hereinafter referred to as the "Buyer") and Gary
K. Bohlin and Cynthia L. Bohlin (hereinafter referred to as the "Sellers"); and
WHEREAS, Buyer and Sellers are concurrently with the entry into this Rider entering
into a real estate contract providing for the sale of 1238 Cedar Avenue, Elgin, Illinois 60120
from Sellers to Buyer (such property and all improvements thereon is hereinafter referred to as
the "Real Estate" and such contract is hereinafter referred to as the "Subject Contract"); and
WHEREAS, the parties wish to set forth their further agreements between them regarding
the sale of the Real Estate 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. That Section 10 of the Subject Contract entitled "PROFESSIONAL
INSPECTIONS" be and is hereby amended to read as follows:
`'Inspections: Buyer may inspect the Real Estate and the improvements thereon at
its expense. Such inspections by the Buyer will be performed by employee(s) of
the City of Elgin to determine whether the condition of the Real Estate is
acceptable to the Buyer to complete the purchase of the Real Estate. One of the
Sellers must be present during the inspection, the inspection will be performed by
one City employee plus the City's Chief Development Officer, and the inspection
will not take place until after approval of the Subject Contract by the city council
of the City. In the event the Buyer determines that the condition of the Real
Estate is not acceptable to the Buyer. Buyer shall serve written notice upon Seller
or Seller's attorney within five (5) business days after the date of acceptance and
then 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. The Buyer agrees not use the
results of any such inspection(s) as a basis for citing code violations on the Real
Estate."
2. That Section 15 of the Subject Contract entitled -THE DEED" be and is hereby
amended by adding the following additional text to the end thereof: "and so long as they do not
interfere with the Buyer's intended use and enjoyment of the Real Estate as a public park and
public open space. Seller's conveyance to the Buyer of the Real Estate shall also include all of
Sellers' rights, title and interest to any easements benefiting the Real Estate, including, but not
limited to, roadway or other access easements, and to any and all rights of access to the Real
Estate."
3. That Section 16 of the Subject Contract entitled "TITLE" and Section 17 of the
Subject Contract entitled "PLAT OF SURVEY" be and is hereby amended by adding the
following provision with respect to the title and survey to be provided:
"The title commitment and the survey shall identify and depict a twenty foot
roadway easement of which provides access to the Real Estate. Seller makes no
representation regarding the legal basis for legal or vehicular access to the
Premises and Sellers' warranty deed shall not be deemed to include a warranty
with respect to access."
4. That notwithstanding anything in the Subject Contract, the Buyer agrees to and
shall pay the costs for the title commitment, survey fee and title company fee. The title company
shall be Chicago Title Insurance Company. The Buyer also agrees to order the title commitment
and the survey. Seller agrees to provide the Buyer with a copy of an existing survey of the Real
Estate.
5. That Section 25 of the Subject Contract entitled "FACSIMILE" be and is hereby
amended to read as follows:
'25. FACSIMILE OR ELECTRONIC SIGNATURES: Facsimile signatures
or e-mail signatures transmitted electronically shall be sufficient for purposes of
executing, negotiating, and finalizing this Contract."
6. That Section 27 of the Subject Contract entitled "NOTICE" be and is hereby
amended by adding the following additional text to the end thereof:
"All notices to the Buyer shall be directed to its attorney as follows:
William A. Cogley, Corporation Counsel
City of Elgin
150 Dexter Court, Elgin, Illinois 60120
(847) 931-5665 (facsimile)
cogley_w @cityofelgin.org (email)"
7. That the provisions of Section 40 of the Subject Contract entitled "'AS IS'
CONDITION" are and shall be included as part of the Subject Contract it being agreed and
understood that the Real Estate is being sold by the Seller's to the Buyer in "as is" condition.
8. Sellers represent and warrant to Buyer as follows:
(a) Seller is not a "foreign person"within the meaning of Section 1445 of the Internal
Revenue Code. At closing, Seller shall deliver to Purchaser a certificate of non-
foreign status.
(b) There are no existing leases affecting the Real Estate.
(c) There are no existing contracts or options to purchase the Real Estate.
- 2 -
(d) There exists no management agreement, exclusive brokerage agreement or service
agreement of any kind relative to the Real Estate that will continue in force
beyond the closing date.
(e) As of the Closing Date, the Real Estate will be vacant and unoccupied.
(f) To the best of Seller's knowledge, there are no underground storage tanks on the
Real Estate.
(g) To the best of Seller's knowledge, neither the improvements on the Real Estate
nor the Real Estate contain any friable asbestos and no polychlorinated biphenyls
(PCBs) are located in, on or under the Real Estate (including, without limitation,
in. on or under any equipment located thereon).
(h) To the best of Seller's knowledge, no hazardous materials or substances have
been located on the Real Estate or have been released into the environment, or
discharged, placed or disposed of, at or under the Real Estate.
(i) To the best of Seller's knowledge, the Real Estate has never been used as a dump
for waste material.
9. Time is of the essence of this Contract.
10. This Rider and the Subject Contract are in and shall be deemed and construed to
be a joint and collective work product of the Buyer and the Sellers, and, as such, this Rider and
the Subject Contract shall not be construed against the other party. as the otherwise purported
drafter of same by any court of competent jurisdiction or to resolve any inconsistency,
ambiguity, vagueness or conflict, if any, in the terms and provisions contained herein.
11. Venue for the resolution of any disputes or the enforcement of any rights arising
out of or in connection with this contract shall be in the Circuit Court of Kane County, Illinois.
12. This Rider and the Subject Contract of which it is a part shall not be modified or
amended other than by written agreement signed by the parties hereto.
13. In consideration of the mutual undertakings of the parties hereto, the parties agree
that upon the closing of the sale of the Real Estate from the Sellers to the Buyer, that the Sellers
and Buyers agree to and do hereby pursuant to these provisions for themselves, their heirs,
distributees, next of kin, dependents, personal representatives, executors, administrators,
successors and assigns, and all other related persons or entities. to the full extent permitted by
law, and with the sole exception of Sellers' warranty of title to the Real Estate and the personal
property being conveyed to the Buyer, waive and release each another, and their respective
officials, officers, employees, agents, and attorneys, from and against all claims, causes of
actions,judgments, lawsuits, cause, attorney's fees, damages, or other liability relief whatsoever,
arising out or in connection with the Real Estate, whether known, unknown, foreseeable or
unforeseeable. The terms of this waiver and lease are contractual and not merely recitable. The
provisions of this paragraph shall survive the closing of the sale of the Real Estate from the
Sellers to the Buyer and the recording of the deed.
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14. This Contract consisting of the Subject Contract and this Rider of which it is a
part and Buyer's obligation to purchase the Real Estate pursuant hereto are subject to and
contingent upon Buyer obtaining from the Forest Preserve District of Kane County an access
easement in a form and upon terms acceptable to the Buyer over and across the Forest Preserve
District of Kane County property located southerly and easterly of the Real Estate providing
access to the Real Estate. If Buyer is unable to obtain such an access easement from the Forest
Preserve District of Kane County in a form and upon terms acceptable to the Buyer prior to the
Closing, and the Buyer serves written notice to the Seller prior to the Closing of same, this
Contract shall be null and void without further obligations 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.
IN WITNESS WHEREOF, Sellers and Buyer have entered into and executed this Rider
to as of the dates entered below their signatures.
BUYER: SELLERS:
CITY OF ELGIN
Ciy K. II ohlin
By: i�!�/lLl . �'�(
City Manager Cynthia L. Bohlin
DATED: April 9 , 2014 DATED: April 9 , 2014
f egal Dept\Rea!EstatelRider-12 8 Cedar-Bohlin-clean 1-14-14.docy
- 4 -