Loading...
HomeMy WebLinkAboutResolutions - 1972.12.19 - 15683December 19, 1972 MISC. RES. 6179 RE: ACCEPTANCE OF OFFER TO PURCHASE COUNTY PROPERTY -- SCOTT LAKE ROAD PROPERTY BY: PLANNING & BUILDING COMMITTEE TO: THE OAKLAND COUNTY BOARD OF COMMISSIONERS Mr. Chairman, Ladies and Gentlemen: WHEREAS, the Board of Auditors has received an offer from the Elks Club of Pontiac for the purchase of County property located on Scott LakeRoad in Waterford Township, legal description as follows: Part of the West 1/2 of Section 13. Beginning at a point distant South 3 degrees, 20 minutes, West 518 feet and South 86 degrees, 16 minutes, East, 925.65 feet from the West 1/4 corner, thence South 86 degrees, 16 minutes, East, 200 feet, thence South 80 degrees, 41minutes, 42 seconds, East, 1546.23 feet, thence North 40 degrees, 26 minutes, 10 seconds, West, 692.02 feet, thence South 48 degrees, 53 minutes, West 335.39 feet, thence North 41 degrees, 19 minutes, West, 1420.52 feet, thence North 86 degrees, 29 minutes, 05 seconds, West, 108.18 feet, thence North 5 degrees, 26 minutes, 25 seconds, East, 534.06 feet, thence along curve to left R-5600 feet, chord bears North 48 degrees, 37 minutes, West 128.92 feet, distant 129.08 feet, thence South 3 degrees, 44 minutes, 55 seconds, West, 388.62 feet, thence North 86 degrees, 25 minutes, 14 seconds, West 19.69 feet thence South 3 degrees, 19 minutes, 11 seconds, West, 275 feet, thence South 86 degrees, 29 minutes, 05, seconds, East, 17.63 feet, thence South 3 degrees, 44minutes, 55 seconds, West, 545.90 feet, thence South 89 degrees, 16 minutes, East, 181.58 feet, thence South 3 degrees, 44 minutes, 50 seconds, West, 518 feet to beginning. 23.28 acres. WHEREAS, your Committee recommends acceptance of the offer, attached hereto, to purchase said County property according to the following terms: 1. Sale Price, $70,000.00 2. 10% down payment, $7,000.00 3. 10-year land contract at 7% interest with monthly payments of not less than $730.00. • o o 16 NOW THEREFORE BE IT RESOLVED that the Board of Auditors be and they are authorized to proceed with the sale of County property as herein described. BE IT FURTHER RESOLVED, that the Chairman and Clerk of the Board be and they are hereby authorized to execute the necessary documents to effect the sale of said County property on behalf of the County of Oakland. The Planning & Building Committee, by Charlie J. Harrison, Jr., Chairman, moves the adoption of the foregoing resolution. ANNING & BUILDING COMMITTEE Moved by Doyon supported by Daly the resolution be adopted. Discussion followed. AYES: Kasper, Kronenberg, Lennon, Mainland, Mathews, Olson, Paholak, Perinoff, Pernick, Richardson, Szabo, Aaron, Barakat, Burley, Daly, Doyon Houghten. (17) NAYS: None. (0) ABSTAIN: Gabler, Horton. (2) A sufficient majority having voted therefor, the resolution was adopted. • I STATE OF MICHIGAN) COUNTY OF OAKLAND) I, Lynn D. Allen, Clerk of the County of Oakland and having a seal, do hereby certify that I have compared the annexed copy of Resolution #6179 adopted by the Oakland County Board of Commissioners at their December 19, 1972 meeting with the original record thereof now remaining in my office, and that it is a true and correct transcript therefrom, and of the whole thereof. In Testimony Whereof, I have hereunto set my hand and affixed the seal of said County at Pontiac, Michigan this 20th day of December To 72 Lynn D. Allen Clerk By Deputy Clerk S I • W1-1 WATERFORD OAKS Oakland County, Michigan Part of the West 1/2 of Section 13, Beginning at a point distant South 3 degrees, 20 minutes, West, 518 feet and South 86 degrees, 16 minutes, East, 925.65 feet from the West 1/4 corner, thence South 86 degrees, 16 minutes, East, 200 feet, thence South 80 degrees, 41 minutes, 42 seconds, East, 1546.23 ftet, thence North 40 degrees, 26 minutes, 10 seconds, West, 692.02 feet, thence South 48 degrees, 53 minutes, West, 335.39 feet, thence North 41 degrees, 19 minutes, West, 1420.52 feet, thence North 86 degrees, 29 minutes, 05 seconds, West, 108.18 feet, thence North 5 degrees, 26 minutes, 25 seconds, East, 534.06 feet, thence along curve to left R-5600 feet, chord bears North 48 degrees, 37 minutes, West, 128.92 feet, distant 129.08 feet, thence South 3 degrees, 44 minutes, 55 seconds, West, 388.62 feet, thence Norl 86 degrees, 25 minutes, 14 seconds, West, 19.69 feet, thence South 3 degrees, 19 minutes, 11 seconds, West, 275 feet, thence South 86 degre 29 minutes, 05, seconds, East, 17.63 feet, thence South 3 degrees, 44 minutes, 55 seconds, West, 545.90 feet, thence South 89 degrees, 16 minutes, East, 181.58 feet, thence South 3 degrees, 44 minutes, 50 seconds, West, 518 feet to beginning. 23.28 acres. • .., • I .44 AGREEMENT OF SALE KXy 1. THE UNDERSIGNED hereby offers and agrees to purchase the following land situated in the{ Township of ,i47tna Waterford Oakland County, Michigan, described as follows: a Pa rt of the_ ke.st_1/2 _ o_f_ _Se cti_ocri _ i ..3_-__13a.gina in_g_at _ a_ _po 1 n_t_ _d.i s_t_a at_Soitt h _ 3_ _de gre_e.a ,,_ 2_0_ _RI I nutes , West, 518 feet and South 86 degrees, 16 minutes, East,925.65 feet from the West 1/4 corner,thence South 86 degrees, 16 minutes,East,200 feet,thence South 80 degrees,41 minutes,42 seconds,East,1546.23 fee . thence North- -40 - tre-gree-8-,-25 - itrt -h-ate-s-,1-0--s---cdn zrs-;1'h,-;sr",692 -.-07-feet-Tthence Soutli "43- --degf-reg ; 53—m 1 nutes , West ,335.39--hee.t7,-ttrence-÷fortfr -4-1 --degrees TI-9---m-i-nu te-s-i-West-;1-08-.-1-9- feet-, thence being known as - see attached. wl — 1 Street, together with all improvements and appurtenances, including all liehting fixtures, ehades, Venetian blinds, curtain rods, storm window; and storm doors, screens, awnings, TV antenna, gas conversion unit and permit if any, now on the premises, and to pay therefor the sum of _ Seventy_Thousand and 00/100 Dollars, subject to the existing building and use restrictions, easements, and zoning ordinances, if any, upon the following conditions: THE SALE TO BE CONSUMMATED BY: oil; in one of the four following paragraphs, and strikc out the remainder.) A. Delivery of t.e. usual Warranty. Deed conveying a marketable title. Payment of purchase money is to be made in cash or certified check. Does not apply • nI • • • • • • • Pn • • • n • • n Cash sale B. Delivery of the usual Warranty Deed conveying a marketable title. Payment of purchase money is to be with New made in cash or certified check. Purchaser agrees that he will immediately apply for a Mortgage Does not a_ppl%, mortgage in the amount of $ , and pay $ down plus mortgage costs, prepaid items and adjustments in cash. Purchaser agrees to execute the mortgage as soon as the mortgage application is approved, a closing date obtained from the lending institution, and, if applicable, final inspection of the property approved by the Veterans Administration or P.H.A. Cash Sale Sale to Existing Mortgage C. Delivery of tlie. usual Warranty Deed conveying a marketable title, subject to mortgage to be deducted Irani the purehafe price. Payment of the purchase money is to be made in cash of certified check less the amount owing upon an exitaing mortgage now on the premises, with accrued interest to date of consummation, held by Does not apply _upon which there is unpaid the sum of approximately Dollars, with interest at per cent, which mortgage requires payments of_ Dollars on the day of each and every month, which payments DO, DO NOT include prepaid taxes and insurance. If the Seller has any accumulated funds held in escrow for the payment for any prepaid items, the Purchaser agrees to reimburse the Seller upon proper assignment of same. The Purchaser agrees to assume and pay said mortgage according to the terms thereof. Sale on Land Contract Sale to Existing Land Contract D. Pa,yment of the sum of Se_v.anTho_us_aael (7 0 0_09 )_ Dollars in cash or certified check, and the execution of a Land Contract upon the MIDWEST TITLE COMPANY form. acknowledging payment of that sum and calling for the payment of the remainder of the purchase money Ten (JO 730. 00 rate of 7 per cent per annum, and which NO; DO NOT include prepaid taxes and insurance. If the Seller's title to said land is evidenced by an existing land contract with unperformed terms and condi- tions substantially as above set forth and the cash payment to be made by the undersigned on consummation hereof will pay out the equity, an assignment and conveyance of the vendee's interest in the land contract, with an agreement by the undersigned to assume the balance owing thereon, will be accepted in lieu of the contract proposed in tha preceding paragraph. If the Seller has any accumulated funds held in escrow for the payment of prepaid taxes or insurance, the Purchaser agrees to reimburse the Seller upon the proper assignment of same. within years from the date of contract in monthly payments of not less than Dollars each, which include interest payments at the Evidence 2. As evideace of title, Seller agrees to furnish Purchaser as soon as possible, a complete Abstract of Title and of Title- Tax History, rectified to a date later than the acceptance hereof, and issued by the MIDWEST TITLE COMPANY_ In lieu thereof. a Policy of Title Insurance issued by said Company in an amount not less than the purchase price. bearing date later than the acceptance hereof and guaranteeing the title in the condition required for performance of this order, will be accepted. 3. If this offer is accepted by the Seller and if title can be conveyed in the condition required hereunder, the Purchaser agrees to complete the sale within 10 days after delivery of the abstract or policy of title insurance; however, if the sale is to be consummated in accordance with paragraph B, then the closing will be governed by the time there specified for obtaining a mortgage. In the event of default by the Purchaser here- under, the Seller may, at his option, elect to enforce the terms hereof or declare a forfeiture hereunder and retain the deposit as liquidated damages. 4. In the event of default by the Seller hereunder, the Purchaser may, at his option, elect to enforce the terms hereof or demand, and be entitled to, an immediate refund of his entire deposit in full termination of this agreement. 5. If objection to the title is made, based upon a written opinion of Purchaser's attorney that the title is not in the condition required for performance hereunder, the Seller shall have 30 days from the date he is notified in writing of the particular defects claimed, either (1) to remedy the title, or (2) to obtain title insurance as required above, or (3) to refund the deposit in full termination of this agreement if unable to remedy the title or obtain title insurance. If the Seller remedies the title or shall obtain such title policy within the time specified, the Purchaser agrees to complete the sale within 10 days of written notification thereof. If the Seller is unable to remedy the title or obtain title insurance within the time specified, the deposit shall be refunded forthwith in full termination of this agreemenL Possession 6. The Seller shall deliver and the Purchaser shall accept possession of said property, subject to rights of the following tenants: If the Seller occupies the property, It shall be vacated on or before From the date of closing to the date of vacating property as agreed, SELLER SHALL PAY the sum of $ per day. TITt:', BROKER SHALL RETAIN from the amount due Seller at closing the sum of $ as security for said occupancy charge, paying to the Purchaser the amount due him and returning to the Seller the unused portion as determined by date property is vacated and keys surrendered to Broker. Tune of Closing Purchaser's Default Seller's Default TiLre Objections Broker By basis with L.S: - Seller : • - Phone____ . IN PRESENCE OF. Furnished by • Taxes and Prorated Items 13roker's Author- ization 7. ,A,I} ta,:ry, and as-essments to,ich have !,'come a ices upon the land at the date of this arireement shall be paid by the Seller. Current ta‘e•::, it any, E.1 au l be prorated and adjusted as of the date of closing in accordance with (Inscit one "Fiscal Year" "Due Date." If left blank, Fiscal Year applies) basis of the municipality or taxhig unit in which the property is located. Interest, rents and water bills shall be prorated and adjusted as of the date of closing. 8. In consideration of the Broker's effort to obtain the Seller's approval, it is understood that this offer is irrevocable for five (5) days from the date hereof, and if not accepted by the Seller within that time, the deposit shall be returned forthwith to the Purchaser. If the offer is accepted by the Seller, the Purchaser agrees to complete the purchase of said property within the time indicated in Paragraph 3. 9. The Broker is hereby authorized to •make this offer and the deposit of Dollars shall be hold by him under Act No. 112, PA of 1960 Sect. 13, (j) and applied on the purchase price if the sale is consummated. 10. APPLICABLE TO F.H.A. SALES ON1,Y: It is expressly agreed that, notwithstanding any other provisions of this contract, the Purchaser shall not lie obligated to corndlt to th,.. purchase of the property described herein or to incur any penalty by forfeiture of earnest money deposits or whet v. ise unless thc Seller has delivered to the Purchaser a written statement issued by the Federal Housing Commissioner setting forth the appraiscd value of the property for mortgage insurance purposes of not less than $- which statement the Seller hereby agrees to deliver to the Purchaser promptly after such appraised value statement Is made available to the Seller. The Purchaser shall, however, have the privilege and option of proceeding with the consummation of this contract without regard to the amount of the appraised valuation made by the Federal Housing Commissioner. It is further understood between Purchaser and Seller that the additional personal property listed herein has a value of $ It. The covenants herein shall bind and inure to the benefit of the executors, adrainistrators, successors and assigns of • the respective parties. By the execution of this instrument the Purchaser acknowledges THAT HE HAS EXAMINED THE ABOVE described premises and is satisfied with the physical condition of structures thereon and acknowledges the receipt of a copy of this offer. The closing of rhis sale shall take place at the office of_ However, if a new mortgage is being applied for, Purchasers will (xecute said mortgage at the bank or mortgage company from which the mortgage is being obtained. Additional conditi ,4is, if any-- Purchase of property. is contingent on -approval of - the members of the Pontiac E1s Temple Association (Pontiac Elks Lodge #81 \----, .—?....,' -r • Pontiac Elks Temple Aa.o.c.a.a.tion i, ,v, .. ( IN PRESENCE OF Donald j ,....yz.4-.:_fy,L., :,- s. 1 _ L. • • Stanley Dudek, Sec.ae_La...Z., J-7---"Lcr--) -' Purchaser _/. . (----C, • . ,4„, , Dated_ 4/- •->r-i'Ll ' '7 \- ' . Phone_ ' ' IL/ Z.4.-.J BROKER'S ACKNOWLEDGMENT OF DEPOSIT - Received from the above named Purchaser the deposit money above mentioned, which will be applied as Indicated in Paragraphs 8 and 9 above, or will be returned forthwith after tender if the foregoing offer and deposit is declined. Address. Phone.__ This is a co-operative sale on a ACCEPTANCE OF OFFER TO THE ABOVE NAMED PURCHASER AND BROKER: • The foregoing offer is accepted in accordance with the terms stated, and upon consummation Seller hereby agrees to pay the Broker for services rendered a commission of ( Dollars) ( per cent of the sale price), which shall he due and payable at the time set in said offer for the consummation of the sale, or if unconsummated, at the time of Seller's election to refund the deposit, or of Seller's or Purchaser's failure, inability or refusal to perform the conditions of this offer; provided, however, that if the deposit is forfeited under the terms of said offer, the Seller agrees that one-half of such deposit (but not in excess of the amount of the full cominission) shall be paid to or retained by the Broker in full payment for services rendered. By the execution of this instrument, the Seller acknowledges the receipt of a copy of this agreement_ PURCHASER'S RECEIPT OF ACCEPTED OFFER The undersigned Purchaser hereby acknowledges the receipt of the Seller's signed acceptance of the foregoing Offer to Purchase. Dated Purchaser MIDWEST 111.1.1 COMI'ANY