HomeMy WebLinkAboutResolutions - 1959.02.24 - 19068Feb. 24, 1959
RESOLUTION 40496.
BY: BUILDINGS AND GROUNDS COMMITTEE
IN RE: SALE OF LOTS Sb, 5'.? AND 60, BLOOMFIELD HILLS ADDITION, CITY OF PONTIAC
TO: THE OAKLAND COUNTY BOARD OF SUPERVISORS
Mr. Chairman, Ladies and Gentlemen:
WHEREAS, the Board of Supervisors, by the adoption of Miscellaneous Resolution
No 3454 on December 22, 19:53, authorized the sale of certain Coun1y-owned properties,
and
WHEREAS, included in the list of properties are the following lots:
Lots 58, 59 and 60 of Bloomfield Hills Addition to the City of Pontiac,
being part of the Northwest 1/4 of Section 4, Town 2 North, Range 11
East, Oakland County, Michigan
and
WHEREAS, prior to the advertising of the above lots for safe pursuant to Resolution
No 3454 a written offer accompanied by a deposit of $300 was made by Tony Stoiloff of
Pontiac Michigan (as per copy attached) for the purchase of said lots for the sum of $1350.00
cash, which is not less than the appraisal value placed on said three lots by the County
Equalization Staff who made the appraisal thereon in accordance with the By-Laws, and
WHEREAS, the offering of said lots has previously been approved by the County
Welfare Commission and the Welfare Committee of the Board, and
WHEREAS, after careful consideration your Committee is of the opinion that the
acceptance of said offer and the sale of said lots at this time would be in the best interests
of the County and so recommends to this Board,
NOW THEREFORE, BE IT RESOLVED as follows;
1. That the offer of Tony Stoiloff to purchase the three lots above described be
accepted and the sale of said real estate for the sum of $1350.00 cash be authorized and
approved.
2 That the Chairman and Clerk of this Board be authorized to execute
necessary deed, said deed to be prepared by the Office of the Corporation Counsel and
delivery made to the purchaser by the Board of Auditors upon payment of the full purchase
price.
MR„ CHAIRMAN, on behalf of the Buildings and Grounds Committee, I move the
adoption of the foregoing resolution.
BUILDINGS AND GROUNDS COMMITTEE
c."..rotea-u Paul W. McGovern
Offer to
Purchase
1.
Abstract or
Title Policy
3.
Time of
Closing
Purchaser's
Default
4.
Title
Objections
Seller's
Default
r-
m
rn
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—1 Silik0S3S3 on At -closing
of tenants as follows' Mene-----Varlant-land
subject to the rights
F-280
Ahnirart tuth Tittr (6narattig (Compang
Detroit Pontiac Mt. Clemens Royal Oak
DETROIT REAL ESTATE BOARD AGREEMENT OF SALE
Legal
Description
The undersigned, hereinafter designated as the Purchaser, hereby offers and agrees to purchase land and
premises situated in the City,lreittith.14.4±(141bat of tilatele4A:.° .... , in 04.14.10.4d.
County, Michigan, described as follows:
59 ant: 60 qf Lot
Purchase
Price
Cash Sale
Cash Sale
With New
Mortgage
Sale to
Existing
Mortgage
Sale on
Land
Contract
Possession
subject to existing restrictions of record, easements for public utilities and driveways, and zoning ordinances, if any;
Together with all improvements and appurtenances and including all lighting fixtures, shades, venetian
blinds, curtain rods, storm windows and storm doors, screens and awnings, if any,
, now in or on the premises and to pay therefore the
ea "0 ( 1.05430.__ 4. Dollars
THE SALE IS TO BE CONSUMMATED BY
(Fill in one of the four following ABCD paragraphs and strike out the remainder.)
A. The delivery of the usual Warranty Deed conveying a marketable title.
The delivery of the usual Warranty Deed conveying a marketable title. Purchaser agrees that if he/to
finaneeethis transaction by obtaining a mortgage, he will do so at his own expense within
days froth the acceptance of this offer.
C. The delivery df.:the usual Warranty Deed conveying a marketable title, subject ,W ' an existing mortgage.
Payment of the purchageemoney is to be made less the amount owing upon said existing mortgage, with accrued
sum of.'...41!".1,1'4-.',,t
upon the following conditions:
interest to the date of consiintination, held by
which there is unpaid the sum Orapproximately ($ /bearing interest at
Jr upon
per cent, which mortgage becomes due on or about .(c , requires payments
(including): (does)
of (3 ), payable (plus) , interest, which payment (does not) include
prepaid taxes and insurance. If the Seller haSeaccumulated funcirbeld in escrow for the payment of any prepaid items, the Purchaser agrees to reimburse the Seller upon proper assignment of the same. The Purchaser agrees
to assume and pay said mortgage. ., ,
D. The payment of the sum of Dollars and the execution•
of a land contract upon the (Abstract and' Title Guaranty Company) (Burton Abstract and Title Company) „.,
( ' ) form, acknowledging payment of that sum and calling for
the payment of the remainder of the/purchase money within •years from the date of the contract, ,./ (does)
in pajthents of not less than ($ each which (does not) include interest
(does) ,
payment at the rate of ./ per cent per annum, and which (does not) include prepaid taxes and insurance
„. Provided, heiwever, that if the Seller's title to said land is evidenced by an existing larid econtract with un-
performed conditions substantially as above set forth, and the payment to be made by the Purchaser on consum-
mation hereof- will pay out the Seller's equity, an assignment and conveyance by quit-claim deed Of ethe vendee's
interest ineSaid contract and land with an agreement by the Purchaser to assume the balance owing 'thereon will
be accepted in lieu of the contract proposed in the preceding paragraph. If the Seller has any accumulated funds
held,in escrow for the payment of prepaid taxes and insurance, the Purchaser agrees to reimburse Seller upon proper
assignment of the same.
The Seller shall deliver to the Purchaser as soon as may be a. complete abstract of title and tax history of
said premises prepared or extended by (Abstract & Title Guaranty Company) (Burton Abstract & Title Company)
(Wayne County Tract Index Department) ( . ni—et --• tY
certified to a date later than the acceptance hereof. In lieu thereof a policy of title insurance issued by (Abstract
& Title Guaranty Company) (Burton Abstract & Title. Company) (Lawyers Title Insurance Corporation) for an
amount not less than the purchase price hereunder guaranteeing title in the condition required herein, bearing date
later than the acceptance hereof, will be accepted as sufficient showing of title.
If this offer is accepted by the Seller and title can be conveyed in the condition required hereunder, the
Purchaser agrees to complete the sale within 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 hereunder, the Seiler may, at his option, elect to enforce the terms hereof or declare a forfeiture hereunder and retain the deposit as
liquidated damages.
If objection to the title is made, based upon a written opinion of Purchaser's attorney that the title is not in the condition as 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 fails to remedy the title or
obtain such title insurance or to give the Purchaser the above written notification within said 30 days, the deposit
shall be refunded forthwith in full termination of this agreement.
The Seller shall deliver and the Purchaser shall accept possession of said property at the time of closing or
7.
Taxes
Prorated
Items
8.
Broker's
Authorization
9.
Acceptance
Time
10.
Cosing Place
11.
Notices
12.
13.
14.
2.7
czader
tv;se
:36101` i.P .ctot ml
15.
Additional
Conditions
Broker's
Acknowledg-
ment of
Deposit
Acceptance
of Offer
IN THE PRESENCE
Phone Ff. Date
L.
Purchaser
Address 411 Osieattd
L. S. 513VHISEIV SMOH3S3 iareo k
n 4 Address
If the Seller occupies the property or any part thereof, he shall vacate and deliver, and the Purchaser shall accept
possession thereof on or before 4,1444. :r
Any existing encumbrances upon the premises which the Seller is re quired to remove under this offer ma y be paid and discharged with the purchase money at the time of the consummation of the sale, or if the Purchaser elects, assumed with abatement of the purchase price.
Owner
Occupied
6.
Encumbrance
Removal
All taxes and assessments which have become a hen upon the land at the date of closing shall be paid by the
44. 4:4_411" -1,L;.)0-•ta41.
Insurance premiums, interest, rents, water bills, fuel, and current City and Count y taxes, if any, shall be pro-rated and adjusted to date of closin g. Taxes, if pro-rated, shall be on a fiscal year basis.
The undersigned broker is hereby authorized to present this offer to the Seller and to pay to the Seller or obtain his receipt for, the deposit money hereby tendered in the amount of ($
which is to be credited on the purchase price if the sale is completed. iekiJ
In consideration of the Broker's assistance to the Purchaser in the preparation of this offer, and of his pre-sentation thereof for the Seller's acceptance, the purchaser a grees that this offer is irrevocable for ou days from the date hereof, and if it is not accepted b y the Seller within that time, the deposit shall be returned forth-with to the Purchaser.
'rhe closing of this sale shall take place at the office of the undersi gned broker, or •••
C.Utfiti!''' A: • 4.0
All notices, deliveries, or tenders given or made in connection herewith shall be deemed completed and le gally
sufficient if mailed or delivered to the respective part y for whom the same is intended at his address herein set forth.
Payment of the purchase money shall be made in cash or certified check.
The pronouns and relative words herein used are written in the masculine and sin gular only . If more than
one join in the execution hereof as Seller or Purchaser, or either be of the feminine sex or a corporation, such words
shall be read as if written in plural, feminine or neuter, respectivel y. The covenants herein shall bind the heirs,
personal representative, administrators, executors, assigns and successors of the respective parties,
The Purchaser hereby acknowledges the receipt of a copy of this offer.
Selle
-4
ut
Received from the above named Purchaser the deposit money above mentioned which will be returned forth-
with if the foregoing offer is not accepted within the time above set forth.
0.,• A
Phone
TO THE ABOVE NAMED PURCHASER AND BROKER:
The foregoing offer is hereby accepted and the Seller a grees to sell said premises upon the terms stated. Receipt
of the deposit money is acknowledged and said money is hereby delivered to the broker to be held in accordance
with the terms hereof and under the Regulations of the Michigan Corporation and Securities Commission.
The Sellvr herelv..agrees, to p,,.y the broker for services rendered and for value received a commission of :r1LiTiv:1 Dollars) ( per cent of the sale price), which shall
be 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, inabilit y or refusal to perform the condi-
tions of this offer; provided, however, that if the deposit is forfeited under the terms of said offer, the Seller agrees
that one-lialf of such deposit (but not in excess of the amount of the full commission) 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.
IN THE PRESENCE OF L. S.
L. S. Seller
Phone Address
PURCHASER'S RECEIPT OF ACCEPTED OFFER
The Purchaser hereby acknowledges the receipt of the Seller's signed acceptance of the foregoing offer t o
purchase.
L. S, Purchaser
Dated.
All purchasers of real estate should have their title examined by an attorney.
Seller (If Seller is married, wife must s'.gri) Seller (If Seller is married, wife must s'.gri)
Date