HomeMy WebLinkAboutResolutions - 1984.07.26 - 16644Planning and Building Commi
-HNC; RESOLUTV
Ser_l
-
'1 Jtfry 26th, 1984
Miscellaneous Resolution mon
BY: PLANNING AND BUILDING COMMITTEE - Anne M. Hobart, Chairperson
Property Management Division -
IN RE: ACCEPTANCE OF "OFFER TO PURCHASE" OF 12.885 ACRES VACANT LAND, CITY OF
FARMINGTON HILLS, OAKLAND COUNTY, MICHIGAN - SIDWELL 23-02-251-001
TO THE OAKLAND COUNTY BOARD OF COMMISSIONERS
Mr. Chairperson, Ladies and Gentlemen:
WHEREAS 12.885 Acres of vacant land in the City of Farmington Hills, Michigan,
described as:
Land in part of the Southwest quarter of the Northeast quarter of
Section 2, TIN, R9E, City of Farmington Hills, Oakland County,
Michigan, described as commencing at the South quarter corner of
said section; thence along the North and South quarter line
North 0o 04' 10" East, 2636.23 feet to the Point of Beginning:
Thence continuing along the North and South quarter line North
0 11' 03" Fast, 1103.27 feet to the southerly line of Northwestern
Highway 204' wide); thence along the southerly rigtt-of-way line
South 53 32' 52" East, 799.60 feet; thence South 0 10' 18" West,
637.90 feet to the Eagt and West quarter line; thence along the
quarter line North 89 08' 12" West, 644.87 feet to the Point of
Beginning, containing 12.885 Acres. Sidwell 23-02-251-001,
which disposal has been recommended and authorized by the Oakland County Parks and
Recreation Commission at their meeting of February 1, 1984; and
WHEREAS Miscellaneous Resolution 84122, dated May 10th, 1984, authorized
disposal of said property; and
WHEREAS the current use of the property is vacant and unused; and
WHEREAS the property has been appraised at $981,000 by J. R. Greenhalgh, SRA,
ASA; and $1,000,000 by Paul R. Stoppert, MAI, ASA; and
WHEREAS any monies realized from the sale of the property, after cost of sale
have been deducted shall be deposited in the Parks and Recreation Capital Improvement
Fund; and
WHEREAS Siegal/Tuomaala Associates Architects and Planners, Inc.
o f 31731 Northwestern Highway, Suite 261, Farmington Hills, Michigan 48018
has submitted an offer of Two Million Three Hundred Ninety Thousand Dcila2,390,000.)
and included a Two Hundred Thirty-Nine Thousand Dollars ($239,000. )
deposit for said property, and
WHEREAS the Planning and Building Committee has reviewed the "Offer to Purchase"
form.
NOW THEREFORE BE IT RESOLVED that the PaklAnd County Board of Commissioners
hereby authorizes the Chairperson of the Board of Commissioners to execute the
necessary documents for the sale of said property to Siegal/Tuomaala Associates
Architects and Planners, Inc.
Farmington Hills, Michigan 48018
of 31731,Northwestern Highway, Suite 261,
for Two Million Three Hundred Ninety Thousand
Dollars ($2,390,009..
Mr. Chairperson, on behalf of the Planning and Building Committee, I move the
adoption of the foregoing resolution.
LJT
e
Siciwkl-No% 23-02-251-001 Data 3/29/84
OPERTY DISPOSITION INFORMATI -'
Property Description: Land in part of the SW .1/4 of the NE 1/4 of Sec, 2, T1 R9E City
of Farmington Hills, Oakland County, Michigan, described as commencing at the S 1/4 corner
of said section; th along the N and S 1/4 line N 0 o04'10" E, 2636.23' to the Point of _ _
3eginning) Th continuing along the N and S 1/4 line N 0 0 11'03" E, 1103.27' to the VI7
line of Northwestern Hwy (204' wide); th along the S r ly R-0-W line S 53 0 3252" E, 799.60';
th S 0 °10'18" U, 637.90 to the E and W 1/4 line; th along the 1/4 line N 89 °08'12" q,
644.37' to the Point of 3eginning, containing 12.385 Acres. (560,617+ sauare feet)
Approximate Crossroads and Municipality: Southwesterly side of Northwestern Highway betwee
Middlabelt and Orchard Lake Roads, Farmington Hills.
Sketch of property and location of easement: to scale
SEE ATTACHMENT
L. Cost and year of original purchase:
2. Additional costs: None
3. Purpose of original purchase: in conjunction with the purchase of Glen Oaks
Golf Course property.
4. Current usage: Vacant and unused.
5. Comparables of adjacent parcels: 3/82 - 116,545 S.F. - $280,000
8/83 - 92,750 S.F. - $180,000
7/83 - 422,965 S.F. -$1,300,000
5. Applicable historical notes, if any, concerning property: (Is it buildable, what
does it cost to maintain?) Property was acquired from Moslem Temple. The
property is buildable. There are no costs involved in maintaining.
7. Price of offers received: 1.
2.
3.
8. Recommendation of Property Management Division: $
10% Deposit to accompany sealed offers to purchase; 11% Interest per annum on unpaid
balance.
9. Appraisal Information: 3. R. Greenhaigh - $981,000
Stoppert's, Inc.-$1,000,000
Files can be reviewed at: PROPERTY MANAGEMENT DIVISION PARKS & ilECREATION
rvrrT77-77rT nr.I.Trr 13717Trt -r‘rt, 7Rnil '.JAT;f -iNfS T.AKE ROAD
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SEC. 2
9X MAR. WITH
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CERTIFICATE OF SURVEY
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7v.r n. iscribea as .:.:nnenctng At the South
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S 53 -32'5.2" E, 7g9.6+7': tn 3 ri'lr'J'18"
alond ne 7•4 Hrte N 3908'72" 4. 6 ,44..7:7' to the
Acres.
wASNER ON POWER mY.Z
CENTER OF I
SECTION 2 --.•• N. 89°08 12"W. 644.871
N/S 1/4 N.0004: io"
LINE 263623.
13 MILE RD.
`c-S. 1/4 COP. SEC. 2 °
T. 1S.,R.9 41,
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PROFESSIONAL
ENGINEER INC
ASSOCIATES
950 North Hunter doulevard
Birrntrilkham. Michigan 44011
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FOR SALE
- • VACANT LAND
COUNTY OF OAKLAND -
In pursuance of a resolution adopted by the Board of
Commissioners the following surplus property is of-
fered-for sale on a sealed off to purchase basis. The
sale is subject to all governmental regulatiors, stat-
• ute.s, ordinances, easements, building aod use restric-
tions, and said Board makes no warranties or repre-
sentations as to the property.
The Board of Commissioners reserves the right to
withdraw the property from the sale prior to the time
and date scheduled for opening the offers to purchase,
to waive defects in the bidding and no sale will be final
until an offer is accepted by the Oakland County Board
of Commissioners.
12.385 ACRES
FARMINGTON HILLS, MICHIGAN
Land in part of the Southwest quarter of the•
Northeast quarter of Section 2, Town I. North,
Range 9 East, City of Farmington Hills, Oak-
land County, Michigan, described as commenc-
ing at the South quarter corner of said section:
thence along the North and South quarter line
North 0°01'10" East, 2636.23* to the Point of
Beginning: Thence continuing along the North
and South quarter line North 0 °11'03- East,
1103.27' to the southerly line of Northweste.-n
Highway (204' wide); thence along the southerly
right-of-way line South 53 °32'52- East, 799.60'
thence South 0°1018" West, 637.90' to the East
and West quarter line; thence along the quarter
line North 89 °03'12" West, 644.37' to the Point
of Beginning, containing 12.885 Acres. .
Minimum Offer - $1,000,000.00
Cash or 10 year land contract
10% deposit to accompany sealed offer to pur-
chase
11% interest per annum on unpaid balance -
Sealed offers to purchase accepted until 4:30 p.m.,
July 9, 1984. Offer to Purchase forms and information
available regarding easements, soil conditions and
other pertinent information can be obtained by con-
tacting E. Stewart (313) 358-0107, or your broker.
COUNTY OF OAKLAND .
PROPERTY MANAGEMENT DIVISION
ROOM 109 - ETZECUTIVE OFFICE BUILDING
• 1200 NORTH TELEGRAPH ROAD-
- PONTIAC, MICHIGAN 48053 -
DANIEL T. MURPHY, COUNTY E-.a. CLITTVE
- -
O&E Thursday, May 24, 1984 2E(S,F)
FOR SALE
VACANT LAND
• COUNTY OF OAKLAND
WICK& of a raeotullion adopted by the Weld ot ConWnianionere the follevringt
surpius property i, orteemi fat nein 04 • senie4 odor to pathos... Paola. Trio 3.1*,
Subt;oci 10 1.4 000.1enr1310ral 1/010•000.3,3ralurns, 001.030rial. 0/13.60130r3, builOng
and umerestrtceore.„ and oold goad makes no anseranikin or represent 1110033)10
aropnrry.
The Board of CommOsonareirs tmereen tree right to withdrew the properly from the
OIL e ono, to the time and dale cadvstluloct tor opervng Cie otters Co tourcnese, io
lera..,3 Aga/CU fn Ms bolding tad 1,0 sato met be Mai until an Offer Is accepted by
the Oriol end County Board al ComrnieslOners.
The roamoing COndatOns Insety its Oa cur piss+ profewly being dewed rer
137. dewed to spoomparn amend ante to purcnesec and
11Y. artersei par annum on...valid balance.
NORTH PART OF OUTLOT A. BRIAR HILL SUB.OrorSiON
FAR2s4isGTON HILLS
Nonn parr OP Outlet A, ELtivr Hill Subdtvision. &Men • &Waal...Non 01 inn West non
or the Sonsheinsli °wet," of Section 4. Town 1 ROMs, Bence 9 EMI, City or
F onnInglan Peas, Chticiend CC...My, Michigan, according to toe plat thereof As
reCtrdonl In Uper 03, Pagan 10 and It, Oelnland County Recoads, beano more
poiecutarly detcritied 0 b.-;innent at the None...AM LOi Comer (Chives Ak mance
Cub 'Noel 55.0 leer 10 a pant: Th4f/C4, None 78 31. sr wiro 41.95 iSA4 to a point
on :he Esel aide op (lid Bedford Road: thence slang • Curve Genuine Nortleserster-
ly, ...due Nene 431.48 tent ChOrd Bears South IP' 43' Sr Wee; 101.03 feel, and
entente 04 105.24 seer: mance Scutt, as- 23' ST- East 135.43 feet to • point:
Mence due East 52.90 tem rob too.nr. thence Cu. Mardi I 34100 trial lothepoint OP
;Moe - 517,930 CO
Cases:Woof ten ( 10) rear Irma contrect -
SOUTH PART OF OUTLOT A, BRIAR HILL SUBDIVISION
FARIANGTON HILLS
South part Of 09601 Pe, Einar 1441Su12ditt11100. being a subdluiaon of th• West hail
01 Soutrwast quarto. of SiCTFOn 4, Town I 140.10. Rant* 3 &tat City Of
Fanfold's., NIb , Q,aland County. Michigan, socordltio to Pb. Piot there& as
tresorded Ire LlOor 93, Peg.. 10 and II, Oeteland County 11/C0033. 133101 0.100.0
pdfrieldlarh.C1111CrIta41 330110010131ln* Soultkeest Lot CO/0er rOurlot Ak thence
dt..a West 133.31 rem to a point tnence North 5-t* 23- Vittit 115.53 feel 10 1.
point on CO. Ertel slide cd Old DeclitOrd Reed; Below. 11:003 a curve concert
elorrnmenrwly, s r 'dos at 441.44 Pest Cnon.I blues Noun 29' 5e 15- East
99 32 reel, ,arin 3 c3.3r/r.C.3 Of 100.00 f331 r0 • point' Chance South fer 23'57- Eall
135.44 loot Peened. queer»! 52,94 feel too point; inence due Souse 100.00 feet to
1'ne oomt of tratinnino_
Pees- S10,350.00
Cash sem..., ten (101year tend Centred
- LOT 113. OLD HOM ESTERO SUBDIVISION
FARkAlkiGTON HILLS
Lot 11), 014 leomedtruid Subdialskin or pert Of the South 11 01 Section Town
tioqh, 110f11710 9 East, y,m0051On Township. Oakland County. Mcni2en.
Pgce-.S.19.f.100.00
Caen s.afe or Can (10) year land contrnd
LOT 114, OLD HOMF STEAD suaolVISION
FARMINCTON HILLS .
Lot 114, Old Hornenteed Subdlarai00 01 part pil the Sculls hat* 01 SeCt Ion II?„. Teen
1 trorth, Paige East, Farmington 1.0.000310%P. OakIrand County, Michigan.
Price- 570,800.00
Coat %WIN 40 (111) weer land contract
Saa;o4 ()item to purchase accepted uOtil 4;30 P.M. JULY 0. 194e. Otter t0
PurCha3O harms and infOrmatton available regarding easements. spit
conditions rind other pertinent Inform/04On can be Obtained by contacting
E. Stewart (313) 1154-0 197, or your Broker.
COUNTY OF OAKLAND •
PROPERTY MANAGEMENT DIVISION
ROOM 100 - EXECUTIVE OFFICE BUILDING •
1200 NORTH TELEGRAPH ROAD
PONTIAC, MICHIGAN 48053
DANIEL T. MURPHY, COUNTY EXECUTIVE
DETROIT NEWS - May 27, 1984
I 211 taa, 231 Comearsial tarsi,
esk am. Seil-atri400kaass
VOR SALM
VACANT LAND
COUN7Y 07 OAKLAND
In pursuance of a resolution 4cl0pteal by the Board of CoMncISSIon.
ers rho allowing surpius property is offered tor lail1 00 a 1ere190
one,' to purcrlaso baits. Th• sale Is subject to all government.:
ragalaiion 1, statutes, ordinance% easements. building and use Is'
stride ons, and said Board meatia no oretrenties or represan tartans
as IP Ins property,
T re Board al C001111.1,1400171 reserves the right to wIlhdray. the
property from line sale prlor to Me Ilona and date scheduled Or
oparung the otters to purchase. to waive defects In the bidding and
no sate will Ow timid until an offer Is accepted by f he Oakland COWIN
I Board ot Commissioners.
12.335 ACRES
FARIMINGTON HILLS, MICHIGAN
in lb.Land part of i Southwest quar ter 01 0. Piortheeit quarter of
Seciton 7, Town 1 Perth, Range 9 East. City of Farmington Hills.
Oa eland County. Michigan, d•scribesil as commencing at I ha Soutn
quarter corn.? of said saction: theme, along Cl', North and SOUrh
(War rev 1•00 North 11•04*td" Eel...7534.73' Po ate Point 01 Beginning.
thence COnlinuing alono the North an Sount quarter line Norris
I'M" East. 1103.2r to the southerly 1141 of NOrernivestern High.
way 1201' 010•11 hent• along th• soolnerly rIgh1.41..44y tine Sayth
SJ•1719- East, need.; thence SOuth 0'10' Id" West. 422.90' to the
East and SSW gu•rter line; thence along Ihe quarter line Main
S'09'17' West, 6.14.41," to in• Point of Beginning. contaireing 12.005
Acres.
Minimum Off., -1.1,000,0041.00
Caliber lOyear I snd contract
10% d epotol re accompany sealed Offer to plitedtase.
11%1M...reef pie man unpaid balanc•
Sealed oliterS 10 purchase accepted unlit P M, July 4, 1944.
Oiler 10 Purchase form, sad Informallon al.5.121 We regarding ease-
ments, sail conditions and deer pertinent IMO/Mallen can be ob-
tained by contactin g E. Stewart (113 4594491, or yaw. broker.
SIDWELL NO. 23-02-251-001
Name and Address
Siegal/Tuomaala Associa
'Architects & Planners, In
Terms
es 10 year land contract
b. 11% interest
Offer Amount
$2,390,000.00
Deposit Amount
$239,000.00
DA:E 7/17/84 .30 A.M.
!Henry Sasson
Kenneth Singer
year land contract, 117. interest $1,052,000.00
5 year land contract, 11% interest $1,052,000.00
1$52,600.00
$52,600.00 1
$5,000.00
$141,108.00
1 Mark Jacobson ;
71/2 year land contract,
11% interest $1,150,000.00 $115,000.00 1
*Denotes Planning and Building Recommendation
COUNTY OF OAKLAND
DANIEL T. M URPHY, COUNTY EXECUTIVE
3 ZALZD F77.7. .2? rN'TG
?xacal 12.885 ACRES, FARMINGTON HILLS
lAn-El Enterprises 1
'Brooks & Layne
1 5 year land contract, 10% interest $650,000.00
10 year land contract, 11% interest; $1,410,775.00
Property Management Division (313) 858-5402 • Community Development Division (313) 858-0493
Executive Office Building
1200 NORTH TELEGR A PH rro..ko, poriTrAc, mierr/G A N 4t053
2/24/84
for the sum of Two Million Three Hundred Ninety Thousand (.52,390,000.00 I.
0 77", In o -3 "t"HAS7
(1) THr U.N:cRS -SNED hereby offers and agrees to purchase the following described
o-one ,-ty; Sidwell C.
See Attachment "A"
and no/ICO Dollars •
(2) CASH SALE: The sa'e is to be consummated by delve- of :He usual Quit Ca i- :eed
conveying title. Payment of purchase money is tc be made by certified chec:e mada
oayable to the C0UN7Y CF OAKLAND. (See attached rider).
(3) GENERAL C0N1!IT:ONS of sale are incorpo .ra:ed and made a oar: hereof. This is a
legal documene and the Seller recommends that all earties to this agreement retain
an aeto-ney to pro:ec: their inte-est in this transaction. (See attached rlder
(a) As.evidence of title, Seller agrees to furnish Purchaser as soon as ,ossible
a policy of title insurance in ax amour.: not Less than the pee-chase erica,
bea:ring date lacer than the acceptance hereof and guaranteeing :ha title in
the condition recuired for-percormance of this o"P-.'
(b) If this offer is accepted by the Seller and if title can be conveyed in the
condieion recuired hereunder, the Purchaser agrees to complete the sale wiehin
ten ('..C) days after delivery of the Cemmitment of title insurance from a ti:le
company licensed to do business in the State of Michigaa and accep:able .to :lee
Purchaser. :n the event of default by the Purchaser hereunder, the .Seller may,,
at his option, elect to enforce the terms hereof or declare a forceiture here-
under and retain the deposi: as licuidated damages.
(c)" In the event of default by the Seller hereunder, the Purchaser shall be
entitled to an 'immediace'refund of his entire deposit in full termination of
:his agreement.
(d) If ob 4 ection to the title is made, based upon a written opinion C.= Purchaser's
azeorney that the title is not in the condition required for performance he-e-
under, the Seller shall have thirty (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 (2) to refund deeosit in
full eermination of :his agreement if unable to remedy the title or obtain e
:itle insurance. :f the Seller remedies the ticle or shall ob:ain sech :itle
policy within the time specified, the Purchaser agrees to comple:e the sale
wirh 4n :en (IC) days of writ:en notification thereof If the Seller is enable
. to remedy the.tiele or obtain title insurance within the time seecified, the
deposit shall be refunded forthwith in full :ermine:ion of this azreemer.:.
(e) The covenants herein shall bind and inure to the benefits of the executors,
administrators, successors and assigns of :he respective parties.
(f) The closing.of this sale shall cake' aceare the office of 0AK4 A2;7.) CC17N-7
C032CRAT'ON COUNSEL, 1200 North Telegranh Road, Pontiac, Y -'ch::.gan 48C53, or
a place of CORFORA"ON COUNSEL'S choice.
(g) Purchaser has been extended an opportuni:y to review any or all records
regarding referenced properey, on file . in the Offices of Properey :e.naeemeee.
(h) Purchaser understands that Seller does retain a permanen: easement over the
described prooerty. Seller retains the right to assign :his easement.
Purchaser understands that 'the County does not warrant that this is a beild-
able lot.
(i) This offer is sub 4 ec* to anproval by the OAKLANI, COUNT'' SOAP CF
rdITNES$ES:
• - _
11.•
(;7
Leonard G. Siegal, P)t&fIZ
Siegal/Tuomaala Associates Architects
PUR SER:
Offer to Purchase
Page ' of 2 pages
(k) This agreement supersedes any and all understandings and agreements and
constitutes the entire agreement between the parties hereto, and no oral
representations or stateMents shall be considered a part hereof. Purchaser
understands and acknowledges that he is purchasing in an "as is" condition
and that the Seller makes no warranties as to the land and structure purchased
or the conditions thereof. Purchaser acknowledges that he has inspected the
premises covered hereby and that he is satisfied with its condition. Pur:Haser
ac',:ncwIet2es the receit of a copy of this offer.
conditions: (.and Contracts)
Dated:
-amm eidnneLs r I nc .
Address 31731 Northwestern Hwy.
Suite 261 -Farmington Hills, Mic
Phone A51-1195
PROPERTY MANAGEMENT DIVISION'S
. ACKNOWLEDGMENT OF DEPOSIT
RECEIVED from the abovenamed Purchaser,
whose address is
the sum of ($
by certified check to be applied to the above Offer to Purchase as indicated in
paragraphs (b) and (c), or will be returned forthwith aftei tender if the foregoing
offer and deposit is declined.*
Total Amount of Offer
Less Deposit
Unpaid Balance
PROPERTY MANAGEMENT DIVISION
Dated:• By:
THIS ACKNOWLEDGMENT IS FOR THE DEPOSIT ONLY AND DOES NOT CONSTITUTE ACCEPTANCE OF THE
ABOVE OFFER 70 ?URCHASE. DEPOSIT CHECKS MUST BE MADE PAYABLE TO THE PURCHASER.
ACCEPTANCE BY SELLER
The foregoing offer is accepted by Seller, COUNTY OF OAKLAND, in accordance with
the terms stated above.
SELLER:
COUNTY OF OAKLAND, a Michigan
Constitutional Corporation
Dated:, By:
,Chairperson
Oakland County Board of Commissioners
The undersigned Purchaser hereby acknowledges this receipt of the Seller's
signed acceptance of the foregoing Offer to Purchase.
PURCHASER:
Dated:
7.1
Rider attached to and made a part of "Offer to Purchase Real Estate"
for 12.885 acres of land on the southwest side of Northwestern
Highway, Section 2, City of Farmington Hills, Michigan
4. Purchaser hereby deposits with Seller the sum of Two Hundred
Thirty Nine Thousand and 00/100 Dollars ($239,000.00) in the form of a
certified check as an earnest money deposit which amount shall be
credited to the purchase price and applied as part of the down payment
at the closing.
5. Purchaser shall have nine (9) months from the date of acceptance
of this offer to obtain 0S-1 Office Service District Zoning for the
entire parcel, obtain an easement for a sanitary sewer to serve the
property and determine that the soils are suitable for construction.
In the event that the above conditions are not satisfied, Purchaser at
its option, may request One Hundred Thirty Nine Thousand and 00/100
Dollars ($139,000.00) of its deposit refunded forthwith in full
termination of this agreement, with Seller retaining One Hundred
Thousand and 00/100 Dollars ($100,000.00) as a non-refundable payment,
or Purchaser may request a three (3) month extension. If the above
conditions have not been satisfied at the end of the three (3) month
extension, Purchaser, at its option, may request One Hundred Fourteen
Thousand and 00/100 Dollars ($114,000.00) of its deposit refunded
forthwith in full termination of this agreement, with Seller retaining
One Hundred Twenty-Five Thousand and 00/100 Dollars ($125,000.00) as a
non-refundable payment, or Purchaser, anything to the contrary
notwithstanding, may proceed to purchase the property upon the terms
and conditions of this Agreement. In the event of a breach of
warranty or representation by Seller, the entire deposit shall be
refunded to Purchaser in full termination of this agreement unless
waived by Purchaser.
6. At the closing of the purchase and sale, Purchaser shall pay to
Seller an additional One Hundred Nineteen Thousand Five Hundred and
00/100 Dollars ($119,500.00): The balance of the purchase price shall
be payable pursuant to the terms of a Land Contract standard form from
Burton Title or Lawyer's Title which provides for payments of
principal and interest as follows:
a. Interest due on the unpaid principal balance shall accrue at
the rate of eleven percent (11%) per annum.
b. The unpaid principal balance and interest thereon shall be
paid in annual installments of Two Hundred Three Thousand One Hundred
Fifty and 00/100 Dollars ($203,150.00) each commencing on the first
aniversary of the Land Contract which amount does not include interest
at the stated rate and provided that the entire unpaid principal
balance and interest thereon shall be fully paid within ten (10)
years.
c. All or any part of the principal and interest may be pre-paid
at any time without penalty.
7. The Purchaser and/or its representatives shall have a right of
access to the premises for the purpose of making soil tests,
topographical and engineering studies — all at their sole expense and
liability. Purchaser shall leave property in substantially the same
condition as before its entry and tests if this transaction is not
completed.
8. The Seller will cooperate and join with the Purchaser in the
execution of any instruments required to rezone the property. Seller
shall incur no liability in so doing.
9. Seller represents and warrants to Purchaser that it holds fee
simple marketable title to the property, that property is or will be
sold unencumbered and free and clear of all liens, easements and
restrictions and that the property contains 12.885 acres.
10. The Land Contract shall provide that Seller shall release to
Purchaser at any time after the closing date land contained in the
property which may be selected by Purchaser on the following terms and
conditions:
a. One partial release containing not more than eight (8) acres
nor less than five (5) acres and containing not more than half the
Northwestern Highway frontage.
b. The release price shall be One Hundred Eighty Six Thousand
and 00/100 Dollars ($186,000.00) per acre together with the then
accrued interest upon said release price with credit for the principal
installment payments.
c. All principal amounts paid by Purchaser to Seller for such
releases shall be applied against and reduce the unpaid balance of the
purchase price (and shall be applied against the next installment
payment due).
d. All land contained in the property which has not been
released to Purchaser shall be released to Purchaser upon payment in
full to Seller of the purchase price and accrued interest thereon.
11. At closing, Seller shall place two good and sufficient warranty
deeds in proper form fully executed (but which do not contain legal
descriptions, to be completed as to legal descriptions by the escrow
agent) in escrow with the company furnishing the title work, which
company shall be acceptable to both Seller and Purchaser, with
instructions to release said deeds upon payment of the release price
or when the entire Land Contract plus interest Co the date of final
release has been paid as the case may be.
12. Purchaser shall have the i.ight to assign all or any part of its
right, title and interest in and to this Purchase Agreement and Land
Contract to be executed in accordance herewith at any time and from
time to time any trust(s), firm(s), partnership(s), person(s), or
other entity(ies) or corporation(s) and said Land Contract shall be
binding upon and inure to the benefit of said assignee, their
respective heirs, representatives, successors and assigns.
MARI,
ATTACHMENT "A"
Land in part of the Southwest quarter of the Northeast quarter of
Section 2, Town 1 North, Range 9 East, City of Farmington Hills,
Oakland County, Michigan, described as commencing at the South quarter
corner of said section thence along the North and South quarter line
North 0 04' 10" East, 2636.23' to the Point of Beginning: Thence
continuing along the North and South quarter line North 0 11' 03"
East, 1103.27' to the southerly line of Northwestern Highway (204'
wide); thence along the southerly right-of-way line South 53 32' 52"
East, 799.60'; thence South 0 10' 18" West, 637.90' to the East and
West quarter line; thence along the quarter line North 89 08' 12"
West, 644.87' to the Point of Beginning, containing 12.885 Acres.
#84209 July 26, 1984
26th day of 19 84
ALLEN
Moved by Hobart supported by Moffitt, the resolution be adopted.
AYES: Gosling, Hobart, Jackson, R. Kuhn, Lanni, Law, McPherson, Moffitt,
Moore, Nelson, Olsen, Page, Pernick, Price, Rewold, Wilcox, Aaron, Caddell, Calandro,
Doyon, Fortino. (21)
NAYS: None. (0)
A sufficient majority having voted therefor, the resolution was adopted.
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
Miscellaneous Resolution #84209 adopted by the Oakland County Board of Commissioners
at their meeting held on July 26, 1984
with the orginial 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
County Clerk/Register of Deeds
this