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Home My WebLink AboutURA RES 2015-06 RESOLUTION NO., .4 J RESOI.J't T"'I"JON TEE.' EXIE"C" J"FION OF THE REAL Es"'I"'A"IT '11--IASE AGREEM.11.'.."N'"'ll" WIT'll RICK AND UNDY WEt.0lJS. BE "ll" HEREBY RESOLVED by the tJrb �i ,IZ,ei-tew��i,I ,Agency of tlie City of("aldwell -to 'Arty approve the Real '11_1'.�Istate Purch,ase Agreement with Rick, and Crilay, W'ells f'o' r propc known as 602 Main Street in'the wn.ount of$1 00,000.00 made a part liereof as set forth, m fil 11. PASSED BV THE URBAN RENEWAL AC'EN(N OF 1,7114E,_4 Cl'ITY OF C"AL DWELL H.-us day of 2015. 0, r"r 1_1 f�, t APPROVED BY rrtilE., (.H.AIR,M".AN F JR.BAN RENEWAIL, AGENCY OF THE .gym rry OF CAlil)WELL On tuis day of Al2W 15. A (_)V D: PPR P By.. ........... Cliairman. A T""'I"1""S I ' OA ............. co* '040 0. y .............. Ac Secretary t-Je W* Aoi 0 017 low 40 "iftliell I ffi Via@ a$ad4 -� � • ,2Glz<2 - * � & : % , Q&~ - � �®#Aa¥■*®� . � . REAL ESTATE PURCHASE AGREEMENT (a) BUYER NAME(s): Caldwell East Urban Renewal Agency (CEURA), 411 Blaine Street,Caldwell,Idaho 83605 (b) SELLER NAME(s): Rick and Cindy Wells, 1909 Cleveland Blvd., Caldwell, Idaho 83605 (c) PROPERTY ADDRESS and/or DESCRIPTION: Buyer agrees to purchase and Seller agrees to sell the real property identified as: Lots 1 &2 of Block 3 of the Caldwell original Townsite in Canyon County,Idaho. The property is located within the SW '/4 of section 22,Township 4 North,Range 3 West(Boise Meridian). The property may also be referred to as 602 Main Street, Caldwell.,Idaho 83605 (d) PURCHASE PRICE: ONE HUNDRED THOUSAND AND NO/100TH U.S. DOLLARS ($100,000.40) to be paid in full at closing and other considerations. Buyers offer is made subject to the acceptance of Seller on or before 12:04 o'clock midnight of July 17,2015 unless extended. (e) CLOSING, EXPIRATION, & POSSESSION DATE: July 17, 2015. This is the date that the sale will be closed. (f) ITEMS INCLUDED OR EXCLUDED: Included, if present, as part of the property sale:all real estate,buildings,improvements,appurtenances(rights and privileges),and fixtures. Fixtures include all things which are attached to the structure(s) by nails, screws, or other permanent fasteners, (excluding shelving) including, but not limited to all of the following, if present: attached light fixtures and bulbs, ceiling fans, attached mirrors; heating and cooling equipment and thermostats; plumbing fixtures and equipment;all doors and storm doors; all windows, screens, and storm windows; all window treatments (draperies, curtains, blinds, shades, etc.) and hardware; all wall-to-wall carpet; all bathroom fixtures;all fencing,landscaping and outdoor lighting;and mail boxes. Items that are not included in the sale: all personal or business items including fixed shelving, storage shed,equipment,and interior contents and exterior equipment and non-fixed items. (g) USE OF PROPERTY BY SELLER AFTER CLOSING DATE: Seller shall retain the right to occupy the property, as a condition of sale, until such time as the Buyer provides written notice to Seller to vacate the property, which shall be a minimum of 6 months after the date of closing. At any time after six months have passed following the closing date, Seiler shall vacate the property upon 90-day written notice from Buyer. While occupying the property, Seller shall not rent or sublet the property and the use shall be consistent with that prior to the closing date(e.g.,office,shop,and storage). Seller will be responsible for actual electrical and water usage, and weed control (including the use of herbicides as applied consistent with the manufactures recommendations), for the duration of Seller's occupancy of the property. Seller is responsible for removal of all items not included in the sale of the property (section (f) of this agreement). Seller shall obtain permission from Buyer prior to structural repair. Real Estate Agreement for 602 Main Street,Caldwell,Idaho Pagel of 3 (h) TITLE, DEED,& SELLER REPRESENTATIONS: Title of Seller is to be conveyed by warranty deed,and is to be marketable and insurable except for rights reserved in federal patents,state or railroad deeds, building or use restrictions, building and zoning regulations and ordinances of any governmental unit, and rights of way and easements established or of record. Seller shall furnish upon execution of this Agreement, a policy of title insurance in the usual form issued by a title insurance company authorized to do business in the State of Idaho, which policy of title insurance shall show sufficient marketable title to vest in Seller, free and clear of all encumbrances, except any encumbrance herein mentioned and set forth, any right of way or easement of public road, current taxes and assessments, any United States patent restrictions and usual printed exceptions in said policies. Buyer shall have the right to have said policy of title insurance examined by their legal representative for any defects which might or could affect marketability of title. In the event of such defect, Seller shall have a reasonable time to cure such defect. Seller agrees to pay from proceeds of this sale LID #0201029 and LID #0201040, for a total of $18,041.86,payable to the City of Caldwell. One former use of the property was a gasolinelservice station. The Buyer has inspected the property and acknowledges acceptance of the property and its Environmental Conditions (known environmental petroleum and solvents within the subsurface soil and ground water below the subject property) and other real or imagined environmental contamination or condition at the time the sale agreement is executed. The Buyer acknowledges that there is a shared wall with the adjacent property and the property line is located within the thickness of the wall, which is part of the title. The building is not in a high state of repair(minor rain water leakage) and does have flaws including bricks missing in back of shop. A drain (likely connected to the sewer) and former hydraulic hoist exist within the subsurface within the shop. The Buyer acknowledges further that he has not received or relied upon any statement or representations by the undersigned Seller which are not herein expressed. The Buyer has entered into this agreement relying solely upon information and knowledge obtained from its own investigation and personal inspection of the premises. The agreement constitutes the whole agreement between the parties and no warranties,agreements or representations have been made or shall be binding upon either party unless herein set forth. (i) Closing Agent: It is hereby agreed that the "closing agent" for this agreement shall be Pioneer Title Company,Caldwell,Idaho. 0) Delivery: Seller shall deliver possession of property to Buyer at time of closing on July 179 2015. Within 30-days of closing all taxes and water assessments pertaining to the property(using the last available assessment as a basis),prorated to the date of Closing,shall be paid by Seller. (k) Terms of Agreement: Unless expressly stated otherwise herein, this agreement is the final agreement and shall be binding upon the heirs, personal representatives, successors and assigns of the respective parties hereto. Parties shall each pay one-half of said closing agent's fees. Real Estate Agreement for 602 Main Street,Caldwell,Idaho Page 2 of 3 On this date, July , 2015, we hereby approve and accept the sale as set forth in the above agreement and agree to carry out all the terms thereof. We further acknowledge receipt of the true copy of this agreement with the complete legal description of the premises inserted and signed by the parties. Signatures of Seller: Date: koly4j Jae Cindy Sue ells r Date. Ricky Dee Alls Signature of Buyer's Representative: CALDWELL EAST URBAN RENEWAL AGENCY Date. BY: Peer Its: Chairman Real Estate Agreement for bog Main Street,Caldwell,Idaho Page 3 of 3