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92-072 - 09-29 Authorize Acquisition 1001 Orkla Drive Right-of-Way ImprovementsResolution 92-72 September 29, 1992 Member Stockman introduced the following resolution and moved its adoption: RESOLUTION AUTHORIZING THE ACQUISITION OF THE PROPERTY AT 1001 ORKLA DRIVE IN ORDER TO PROVIDE ADDITIONAL RIGHT-OF-WAY FOR STREET IMPROVEMENTS TO WINNETKA AVENUE WHEREAS, the City of Golden Valley is cooperating with Hennepin County in the reconstruction of Winnetka Avenue from Harold Avenue to Orkla Drive; and WHEREAS, under an agreement with Hennepin County the City will acquire the necessary street right-of-way to undertake this project; and WHEREAS, it is necessary, desirable and in the public interest for the City to acquire this property at 1001 Orkla Drive to carry out the improvements to Winnetka Avenue; and WHEREAS, the City has had the property at 1001 Orkla Drive appraised in order to determine its fair market value by a qualified independent professional real estate appraiser, who has completed a written report documenting said value; and NOW, THEREFORE, BE IT RESOLVED, by the City Council for the City of Golden Valley: 1. That it approves acquisition of the property described on the attached Purchase Agreement, that the attached Purchase Agreement is approved and the City Manager is authorized to execute it on behalf of the City Council and take all necessary action to carry out its terms. 2. That the City Council hereby certified the market value of said prop- erty legally described as follows to be $119,200: Lot 1, Block 3, Golden Oaks, Golden Valley, Hennepin County, Minnesota BE IT FURTHER RESOLVED that the acquisition of the above described real estate is necessary and described, and the purpose aforesaid for which said property is to be acquired is a property and necessary public purpose. ATTEST: irley J pmlson, City Clerk The motion for the adoption of the foregoing resolution was seconded by Member Thompson, and upon a vote being taken thereon, the following voted in favor thereof: Bakken, Johnson, Russell, Stockman and Thompson; and the following voted against the same: none, whereupon said resolution was declared duly passed and adopted, signed by the Mayor and his signature attested by the City Clerk. Earnest Money Contract. WItITFrO(tlee Cooy YELLOW—Seller's Cony PIN K—Buyer% Copy Goktenrod—Axenl'a ropy PURCHASE AGREEMENT Minn.............................................................. 19.......... RECEIVED OF City of Golden Valley, it5_pI•cx!li$.e..t9...paY. ........ ........ . the sum of One hundred Nineteen Thousand hao..Hundred,.d..>lo/100...(=.,119,.20.Q,.00) DOLLARS _...... __.............. ................... as. jjs �aoesinoonefiiini iapat payment for the purchase of property at (Check, 86651:11 6=--BUUFAWAy 1001 Orkla Drive, _Golden. Valley .... I ............... ................__ _....... ..situated in the County of pennepin __ Sate of Minnesota, and legally described as follows, to -wit: Lot 1, Block 3, Golden Oaks, Golden Valley, Hennepin County, Minnesota including all garden bulbs, plants, shrubs and trees, all storm sash, storm doors, detachable vestibules, streets, awnings, window -hades, blinds (including venetian blinds), curtain rods, traverse rods, drapery rods, lighting fixtures and bulbs, plum ling fixtures, hot water tanks and heating plant (with any burners, tanks, stokers and other equipment used in connection there- with), water softener and liquid gas tank and controls (if the property of seller), sump pump, television antenna, inciner- ator, built-in dishwasher, garbage disposal, ovens, cook top stoves and central air conditioning equipment, if any, used and looted on said premises and including also the following personal property: Washer and Dryer; dkel w#ticA�rapa dse�aaadetaigned+,33=this, day=alsashe=btiiw=he=all of: which the buyer agrees to pay in the following manna: September 30, 1992 IEsimew mosilerherlRl=plid4===========and $ L19,200-00 , cash, on or before / , the date of closing. The Buyer shall pay 3/12 of the 1992 real estates taxes; The Seller shall pay 9/12 of the 1992 real estate taxes. Buyer agrees to lease the horse back to Seller in accordance with a written lease which parties have heretofore agreed to. Subject to performance by the buyer the seller agrees to execute and deliver a Warranty Deed (to be joined in by spouse, if any) conveying marketable tide to said premises subien only to the lollowing excepnnns (a) Building and zoning laws, ordinances, State and Federal regulations. (b) Restrictions relating to use or improvement of premises without effective Imtciture provision. (c) Reservation of any minerals or mineral rights to the Stam of Minnesota. (d) Utility and drainage easements which do not interfere with present improvements. (e) Rights of tenants as follows: (unless specified, not subject to tt�ppqq�nes) The buyer shall pay the real estate taxes due in the year 1q y3 �tt��d any unpaid installment of s sec ial asscssmenn payable a ble rhereu ith and thereafter. Seller warrants that real estate taxes due in the year 19 1 will be Ul� homeaead classification 1 full, partial Or non -homestead — state which I Neither the seller nor the seller's agent make any representation or warrants wbanocscr concerning the am -int or reai estate taxes which shall be assessed against the property subsequent to the date of purchase. Seller covenants that buildings, if any, arc entirely within the boundary lines of the p-perty, and agrees to remosr all pt, s ,nal property not included herein and all debris from she premises poor to possession date. SELLER V.'ARRANTS ALL APPLIANCI'S, III 1l'ING, AIR CONDITIONING, WIRING AND PI.UMBING USED AND LOCATED ON SAID 1'KI Ul FS ARE IN PROPER V'[sRl [; csRDLR AT DATE OF CLOSING. g June 2 , 1993 The seller further sprees to deliver possession not later than provide) that all nmdmm�s Of this agreement have been complied with. Unless otherwise specified this sale shall be closed on or before 60 days from the date herenl In she event this property is destroyed or substantially damaged by fire or any other cause before the closine dairchis aereement shall become null and void, at the purchaser's option. and all monies paid hereunder shall be refunded m him The buyer and seller also mutually agree that pro ran adjustments of rents, interest. insurance and city water. and, in the case Of income property. current operating expenses, shall be made as of June 2, 1993 The seller shall, within a reasonable time after approval of this agreement, furnish an abstract of title, or a Reci---d Vn rcrty Abstract certified to date to include proper searches covering bankruptcies, and Stam and Federal judgments and lie-. the honer shall he allowed 10 days after receipt thereof lot examination of said title and the making of any objections thereto, said lbiemons of be made in writing or deemed to be waived. If any objections are so made the seller shall be allowtd 120 days m make such title marketable 1'e•mling correction of tide the payments hereunder required shall be postponed, but upon correction of tide and within 111 days atter —men notice to the buyer, the parties shall perform this agreement according las its terms. If said tide is not marketable and is not made so within 120 days from the date of written objections thereto as above p ... vided, this agreement shall be null and void, at option of the buyer, and neither principal shall be liable for damages hereunder to the other principal. All money theretofore paid by the buyer shall be refunded. If the title to said property be found marketable or be so made within said time. and said buyer shall default in any of the agreements and continue in default for a period of 10 days, then and in that case the seller may terminate this contract and on such termination all the payments made upon this contract shall be retained by said seller and said aernt. as their respective interests may tappetar. as liquidated damages, time being of the essence hereof. This provision shall not deprive either party of the right til enforcing the specific per of this contnn provided such contract shall not be terminated as aforesaid. and pm. ide.l aauin to enforce such specific performance shall he commenced within six months after such right of action shall arise. It is understood and agreed that this sale is made subject to the approval by the Owner of said premises in writinc and that the undo signed agent is in no manner liable or responsible on account of this agreement, except to return or account for the earnest money paid under this contract. FORM APPROVED By MINNESOTA ASSOCIATION OF REALTORS® The delivery of all papers and monies shall be made at the office of: City of Golden Valley �y1, the the undersigned, owner of the above land, do hereby approve I hereby agree to purchase the said protry for the price and the above agreement and the sale thereby made. upon the terms above mentioned, and ser jest to all conditions herein expressed. CITY OF' GOLDEN VALLEY Seller (SEAL) By: (SEAL) Buyer (SEAL) Its (SEAL) Seller iBuyer THIS IS A LEGALLY BINDING CONTRACT. IF NOT UNDERSIOOD, SEEK COMPETENT ADVICE.