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1972-150 OrdinanceO?,DINZdtCE NO. 1972 - 150 Offered by: Mayor Hartlaub APPROVING ;dID ACCEPTING A CONTP, ACT TO ~ ~ ~-"- AND ~I~OPRIATIHG FUNDS TO I~ET ~IE OBLIGATION OF S~D CON~P~CT. this Council by its Ordinance No. 1972 - 82 authorized the , Director of Pdblic Service to uegotia~e for and enter into a conditional contract for purchase of approximately seven and one-half acres of land at the northeast corner of ~-itller Road and Sand Pun Parkway; and the Director of Public Service has reported the outcome of said negotiations and has entered into :he authorized conditional in manner and form as follows: Ordinance 1972-150, Page · SPALDING REALTY CO. 1123 Second National Building Akron. Ohio 44308 Phone (216) 762-9228 OFFER TO PURCHASE REAL ESTATE Complete Real Estate Service ri'Z>. MC~RmOAO~.: ~t ls.tl~derstood that the buyer will need a ...'~./a ......... .~,. loan on,he above d~xcnbed premises m th9 sum of -'/. lesss~han * ................... N/~ ~ ass~hlm In hnancl, ng his transaction, and ho a ees ~ uso~ls best eff0~ts to ob~,n such /, /~ loan. ~interest ding .......... ~annually, final balance~ue in ..... ye~, and in th~. event h'~ is ~ 1~ success~l ' ' %' '~ aforesai~ithin '~ ~ X buyers" ' ~ in 'obtaining s~ch a loan commit~pnt as .......... d-ys, ~is contrac~may, at or sellers ' -- election, ~ rescinded and th~amest money retu~ed. '/~ 2. CONVEYANCE: The Seller agrees to execute and deliver into escrow a Wa~anty ~eed for subject_pre.iaea, ~h all dower righ[~ days after date,/or a ~sona~e t,~e ~5ereaftcr, wa,anting same released, ~ the Buyer or his nominee on ~ before ...~0. .... o~ a rev · .O free and cle~ of all encumbrances except such as ~e set forth herein. The Seller a~ees to furnish, from a Title Company authorizes I by the Secretary of State to do business in Ohio, a Title Guaranteed to the Buyer, in the amount of the purchase price showing the Recoro Title from Jan. 1, 1900, to be in the name of the Grantor and free of all encumbrances except as herein stated, and except such as are . ; to be assumed by the Buyer, or ~ be paid off and discharged at the time of the closing of the deal. All taxes assessments and , assessmeuts shall be ~ .~4 ~o~r.~i~,~~tbe-f~l~~~ ~,~f~Jhe- Aa~of,,~~i~~ e.a.~--~i~ch~r--~h..~ll--b~ro~'.:~, , excepting capmta~ assessments a~ az ;, 3, [~,5OROW: All pap~s and mone~ nece8s~ 1o complete this a~eement shall be deposited in escrow wi~ Broker or witll 9~~g~.e.~f~~..~..~~~..gR, ................. as Escrow Agent, whose fee shall be paid ~,,~1-~ by Seller on,ballPlayer, I~~uye~aec~ a mo~gag~~.id-~miaoo, for-pa~~h~p~oha~.prie~ tho oso~gen~a~ub~,~row ~ 4. POSSESSION: The Seller a~ees that, on or before .............. day~ ~ftor closing date, he will give possession of the premises their present condition, except for ordin~y we~ and tear subject to rights of tenants, if any, as to continuing occupancy. Rents paid advance, if ~y, are to be pro-rated to date of completion of sale. ~. 5. INSPECTION: The Buyer hereby represents that he has personnally inspected and examined the above mentioned premises and all the " improvements thereon and is satisfied therewith. When signed by both p~ties, this a~eement shall constitute a fi~ contract, 6 upon and accruing ~ the benefit of Seller and Buyer and their respective heirs, executors, administrators and assigns, and both paaies agree that it con,ins all the terms and conditions agreed upon, and that there are no outside conditions, representations. ,.~' wa~anties or modifications by either pa~y or the broker. ~:~ 6. INSURANCE: The ~ller shall be responsible for fire and extended insurance coverage and for maintenance of the premises; the risk of loss shall not pass to b~er until closing date. 7. ~'MIS~~-I,~ 5~1'!~,- ~'~e~ ~ ~a't' ~ ~h'~mkor~,~~~f,~ ,, .,, ,, ~ ~.h~~l~, i~ fo~.-4t.~-v~~~roeufing..~;on~..i~;~,e~ri ~ j,.~ ;'. 8. IF TIlE B~ER fails or refuses to peffo~ his pa~ of the con~act, the SELLER may, in lieu of other remedies available to him el~e this con,act null and void as to the BUYER, and the money received may be forfeited to him as liquidated damages; wid~ liability of the Broker to either pa~y. It is also distinctly understood by all Panics hereto that the broker in this transaction not be liable in any m~ner whatsoever for any defaults arising from acts by or u~n the pa~ of either Pa~y to this Agreement. The a~icle headings used herein ~e for convenience only ~d shall not be considered in any construction hereof. IN WITNE~ ~{EREOF, the pa~ie$ hereto acknowledge that the~ have read and ~ders~nd this inst~ment in its entirety and have set their hands m triplicates hereof. By .................. Buyo ~ OITY 0F F~IR~~ I0" · ~ .................................................... .......................................... ~ ~yO~ ...... ~Y'-,/"~' ':¢~.~ ~ ~ ~.~ ...... '~ ''''~ ....... t lff~ ~.~'/"t~ ~ ~ ~ ~'~' ...... ~ ' ~".,.[. ..... ~,~"' ....... ~.- ~.'~.~'''' ~"~ ~.,., ' ~ ~ ~ ~'~ '"' '"','" ..... ' '' .......... ~O~v~' ~ ~' Addre~ ..... ,2..~ ~i~.... ( .... ,~h..~... Phone ~~/~. ~.,. .;~ ~ .' ................. The foregoing offer i~ herob7 ~ccep[ed [hi~ ................. Sellor .... ~~"~;.~~r. ~.. ~': ~~ ~:~~ .................. day of ......................................... 10 ..... Seller ......................................................... ~ddre~ .............................. Phono .................. ...,.,,.,.,...,,.,,, .... ,,.,,,,,,,,,.,,,,,,,,,,.,,...,,,,,,.,,.,,,..,,,,,.,.,,,,,,,,,,,.,,,,,,,,...,,., ....... , ............ THIS AGREEMENT, made at Summit County, Ohio, this ~.~..~..h ...... day of ..... 0..C.~.Q.b.~?. ............... 19 7.2..., by and between .0 iSy...Q£.. F.a£r. lawn .................................................................. hereinafter called the BUYER, .'~..~.].. ~.a..m...~. ,..~.~Q.~.~ ................................................... hereinafter called the SELLER, tMough the agency of SPALDING REALTY CO., hereinafter called the BROKER- ~TNESSETH: That the Seller agrees to sell and convey, and the Buyer agrees ~ purchase and pay for, upon the te~s and condition's here- inafter set forth, the follo~ng described property, together ~th all the heredi~ments and appu~enances thereunto belonging, but subjecl to all legal ~ighways and zoning ordinancesL and ~ restrictions, reservations, li~tations and ~seme~t~, if any, of record: situate~ in the ...... ~.~.y .............. of ....... ~'airia~ ................ County of .......... ~ ............................. State of Ohio, and kno~ as pa~ of Lot No .... ~ ....... or the . .FO.~a~. ~O.P~~. ~Q.~$~~ ............ allotment and fu~her ~o~~,. 6 ,.52.~i .... ac.re.$..~i~h .6~7. F.e~.$..C~o.n~.age..o.n..$an~ ~n..~a.d..aa4..5~&.~¢.~$. .~n ..... Including all plants, bulbs, s~ubbery and other planting and landscapi~a}l-att~hea~ec~rm-;-plumbing,..heating;---toilet, and .o~h~ with~he~,-attaehments;'-pa~icularl~-including .such of~.[h.~el-lowifi~'{tems as are o~ed by the Seller and are on, or used on the premi~les: door, window and ~rch screens; atom ~onrv a~~T~dows, window shades, venetian blinds, awnings, emain rods and fixt~es, traverses rods and fixtures, mi~r~,tnche~ t~ ~alls or doors, linoleums; door chimes..,T.V, ante~ae; attached incinerator g~bage disposal or f~ d~shwashxng nn,~i~fi~askets for fireplace, gas logs,.nt~ohed'"heaters; fluorescent lxghts; galen a~ lawn ~rgoias, trell~ses, · ;~,'/c~.~d-gfills,-.unleso o~o~fioall~x~pte~na including ......... ' THE BUYER AGREES ~ purchase and pa~ for said prope~y, to the Seller, the ~um of.~.~~YZ~.~Y.~..~Q~O~~..$~Y.~I~. ..... ~.~.~~..&q~.. 7.7~7.~7.TZ7~7.T7.7Z7~7.TT. 7Z7~7.T7.7Z~].~QO DOLLARS (*..5~., ~.~,.~Q ..... ), a~ follows,~ ;/~'- , ....... ~, ~09...0~ ......... ~,ewit~ ~... ~... ¢~e~k; ........ ~,; ........ no~. $ ............................. Cash when offer is accepted b~ the Seller. .... · ............................. Cash ........................................................... '~'"' , ...... 9.6,.70.~...0~ ........ (T,e ~~ of t~e ~,u~¢~e ~i~e.) Wit,,in t,n a~x, ~ft~,- aero,it o~ ae~,~ in ~,'ow or as outlined in Par.~below. ( .... ,.. ,.,,, ,, ..... ,,.,.,,,.,,, ,,.,, ~., .,,,,,. ~kia..c on~ma'c.~..ia, sab j.e c.~..t.o..the..appravak, of..Fairlawn..Cit.y..Go, until .by..0 r~ima.nce .... . .duLy. ~ac.ted..a~. apprapri.atiom, of..the..fuads..nec~ssa=y..for..~he, real g~d. dowm .pa.ymea~ · a. nd .......... . .bal.an~e. o~. the. ~onaidzra~~ ..................................................................................... BE IT EI.IACTED BY It,..'. COUHCIL OF I".IE CITY OF FAIRLA~,~N: Section 1: The contract hereinabove set out between the City of Fairlawn as Buyer and llilliam R. Cronin as Seller is hereby accepted and approved. Section 2. There is hereby appropriated from the capital improvements fund of the income tax fund the sum of $95,700.00 for payment of the consideration e:.~ressed in the contract herein referred Section 3. This Ordinance shall be in full force and effect from and after ten (10) days after its publication by posting. Passed December 4: 1972 ?iilliam F.-Reed, Clerk of' Co~'ncil Approved: /~ - ~ - 19 72 ,//4os~~'h A. Eart[au~, 'I;ayor // Approved as to form: 'Doug ' ~.'-z°~lc' D eCtor of Law- Dou~ ~,X, o~~ I, William F. Reed, Clerk of the Council of the City of Fairlawn, Summit County, Ohio, do hereby certify that the foregoing Ordinance 1972-150 mas duly and regularly passed by the Council at a Regular MeetintL on December 4, 1972. William F. Reed, Clerk of 'Council 'This is to certify that on_._L'~_- within Ordinance/Resolution was published by posting a true copy of the same in five public .'places within the ,C..ity as prescribed, in Orrd.~ 1972-108. William F. Reed Clerk of Council Ordinance 1972-150 Page 3