HomeMy WebLinkAbout2863 Resolution RESOLUTION NO.
A RESOLUTION REGARDING THE SALE OF A 0.46 ACRE PARCEL ON
COMMERCIAL AVENUE TO TRUS-WAY OF TRI-CITIES, INC.
WHEREAS, Trus-Way needs 0.46 acres of land on Commercial Avenue to
accommodate their expansion needs; and
WHEREAS, said property is surplus to the needs of the City; and
WHEREAS, Trus-Way has agreed to pay$ 27,600 for the 0.46-acre site; and
NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO,
WASHINGTON DOES RESOLVE AS FOLLOWS:
Section 1. That the Pasco City Council hereby accepts and approves the Purchase and
Sale Agreement attached hereto as Exhibit "A" regarding city-owned real property fronting on
Commercial Avenue in Pasco.
Section 2. That the Pasco City Council hereby authorizes the City Manager to execute
the Purchase and Sale Agreement and further authorizes the City Manager to do all else
necessary to conclude the sale of said real property in accord with the Agreement.
PASSED by the City Council of the City of Pasco, this 18 day of January, 2005.
ichael L. a son
Mayor
ATTEST: APPROVED AS TO FORM:
Sandy L. nworthy Leland B. Kerr
Deputy City Clerk City Attorney
DEC.27.2004 5:34RM TIPPETT COMPRNY NO.655 P.3/8
' _ XHIBLT_B
REAL ESTATE PURCHASE AND SALE AGRE E
EMENT A-59B
(Please read carefully before signing.)
Pasco, Washington October � , 2004
Inc. or Assigns{Buyer),the sum of$1,200.00 in the form of check
Received from Tres-Way of Tri-Cities, �
for $1,200.00, which will be deposited with Chicago Title Insurance Company by Broker within 10 days
after mutual acceptance. The earnest money will be applied d it to Buyer on the
sell, located in closing of
anklie
following described real estate, which Buyer agrees to buy an Seller agrees
County, Washington, and legally described as follows
That portion of the Northwest Quarter of Section 21, Township 9 North, Range 30 East, W.M.,
comprised of approximately .46 acres, shown on the map marked Exhibit "A" attached hereto and by
this reference made a part of this Agreement.
1. AGENCY DISC g3U E At the signing of this Agreement the Listing Broker, Tippett Company of
Washington, LLC represented Buyer and the Seller represented itself. Buyer understands that Broker
also represents Tippett Land and Mortgage Company in a companion transaction involving adjacent
property and Buyer hereby waives any conflict of interest created by such representation. Each party
signing this document confirms that prior oral and/or written disclosure of agency was provided him/her
in this transaction. Each party confirms that they have received and reviewed a pamphlet ent ed "The
Law of Real Estate Agency". � � S AG t12 ) W.
(�), payable ' cash
ff1
2, ggHASE PRICE., The total price is
at closing, including earnest money. Provided, however, that if the survey, which is to be provided by
Seller, indicates subject property is more or less than .46 acres, the amount of land more or less than
.46 acres will be multiplied by$39-,-99-99.^-^-per acre a the purchase price will be adjusted accordingly.
40,M,%ao A4PI,
3. CONTINGENCIES:_ This transaction is contingent 7 on;
a) Prior to closing, Seller will, at its expense, survey and stake the cornerhsubjr parcel and
complete a bindi Re
JW, Pte-
b)Upon mutual acceptance,Buyer shall have a period of ninety(90) days to conduct a feasibility study
on the property. The feasibility study shall be at Buyer's sole expense and shall be acceptable to Buyer
in Buyer's sole discretion. The Buyer, or an authorized agent of Buyer, shall have the right, at
reasonable times upon prior notice and authorization by Seller, to enter upon the property for the
purpose of conducting this feasibility study. The feasibility study shall include, but not be limited to;
(i) inspection of the property including structural inspection, soils and geological study, hazardous
waste inspection and Phase I and Phase Il Environmental Site Assessments, if desired; (ii) verification
of utilities; (iii) appraisal; (iv) survey of the property; and (v) investigation of location and nature of
easements and encumbrances of record to insure that they do not interfere with Buyer's plans and
usages of the property. If the Buyer fails to give written notice to the Seller of Buyer's approval of the
feasibility study and/or waiver of this contingency by the end of the aforementioned 90-day period,this
Agreement shall terminate, and the earnest money shall be returned to the Buyer. Buyer shall deliver
to Seller copies of all reports received or prepared in conjunction with Buyer's feasibility study,
regardless of whether or not the contingencies are fulfilled or waived.
A* Page 1 of 5
Real Estate purchase and Sale Agreement
DEC.27.2004 9=35RM TIPPETT COMPANY NO.655 P.4i8
A-595
Seller will reimburse Buyer for she
P SE A p SE ENVTRO ME TA AS ES in an amount
costs of Phase I and Phase H Environmental Assessor zcheperformed t subject less- Said property e ursement shall
equal to the actual documented costs or$2,S00.fl0, h
occur irrespective of whether this transaction closes or does not close,
5 51MVITA OU C OSIN : Buyer shall not be obligated to close Mortha Company is the Sellere,
simultaneous closing of adjoining 7.11 acres wherein Tippett Land&Mortgage
6. BUYER'S REPRESE�I'TATION: Buyer represents that Buyer has sufficient fund�u=�ab a to close
this sale in accordance with this Agreement, and is not contingent upon Buy g
financing.
7. TITLE;. Title to the property shall be marketable at closing. Rights, reservations, covenants,
easements and encroachments of
conditions and restrictions presently of record or of apparent use, easements
unduly interfering with
record or apparent use, not materially affecting the value of the property
Buyer's intended use of the property shall not cause the title to be considered unmarketable.
of Chicago Title
Additionally, the property is subject to the standard policy printed far security as set forth in this
Insurance Company, and the encumbrances, if any, retained by
Agreement. Buyer accepts the property subject to all easements and encroachments of record or of
apparent use, including, but not limited to, easements granted to or retained or held by public utilities
or governmental entities, and subject to restrictions and reservations for the supply of water and water
rights and future assessments therefor, Buyer shall conclusively be deemed to have accepted the
condition of title unless Seller receives notice of Buyer's objections within thirty (30) days after
preliminary commitment for title insurance is received by and made available to Buyer.e Ewa numb ces out
to be discharged by Seller shall be paid by Seller on or before closing and may P
closing.
8. TIT E I13SYJRANCE:_ The parties authorize the closing ti eent, at o Titles expanse ,Comp apply
y.for
The
standard form owner's policy of title insurance to be issue y g
title insurance shall contain no exceptions other than those contained in said standard form, those
referred to in this Agreement,those accepted by Buyer, and those not inconsistent with this Agreement.
If title is not so insurable and cannot be made so insurable prior to closing, Buyer may elect either to
waive such encumbrances or defects and proceed with the closing, or to terminate this Agreement and
receive a refund of the earnest money, at which time,
this Agreement shall be at an end. Buyer
acknowledges that a standard form title insurance does not insure the location of boundaxies, and that
an extended form of insurance is available at additional cost, with such additional cost to be borne by
the Buyer,
9. CONVEYANCE; Title shall be conveyed by statutory warranty deed free of encumbrances and defects
except those included in this Agreement or otherwise acceptable to Buyer.
10. UTILITI S: Seller represents to the best of Seller's knowledge that the following services are or will
be available to subject property prior to closing: electricity,telephone, domestic water,and sewer. No
The City of Pasco will charge hookup
hookups of sewer and water will be constructed to the property. able b charge
Buyer to the
fees which are to be paid b Buyer; however, no front or area charges will bp pay Y y
City of Pasco.
Page 2 of 5
Real]:sracc Purchase and Silt Agreement
DEC.27.2004 9:35RM TIPPETT COMPANY NO.655 P.5i8
A-595
ITI N: Seiler represents to the best of Seller's knowledge that Seller inot'wa'ware
11, P PE Y ON the property except that subject property was previously
of any material facts adversely affecting
municipal landfill.
12. C OSI G: This sale shall be closed within ten (10) days after satisfaction ac ep aunce, by Chicago Title
�� but in any event not
later than 150 days after m
contingencies, and the sale
Insurance Company. "Closing" means the date on which all eller shall deposit with closing sing gent all
proceeds are available for disbursement to Seller. Buyer and S
documents and monies required to complete this sale in accordance with this Agreement.
a all customary and usual closing costs paid
13. CLO ING OS SAND PRO TTO S: Seller shall on including title insurance premiums, excise
by Sellers of Real Estate in Franklin County, Washing pro-ratable items.
tax, survey fees, one-half of document preparation,costs e-half Bum Buyers of Real Estate in Franklin County,
Buyer shall pay all customary and usual closing P Y
Washington, including recording fees, one-half of document preparation, one-half of escrow fees, and
pro-ratable items.
14. POSSESSION Buyer shall be entitled to possession on closing.
be subject to the withholding and reporting requirements of
l� pl pTA COM LIANCE_This sale may subject Seller furnishes to Buyer an
the Foreign Investment In Real Property Tax Act (FIRPTA) wiih PIRPTA, if applicable. Seller
affidavit of non-foreign status. Seller and Buyer agree to comply
is a U.S. Municipal Corporation. Buyer is a U.S. Corporation.
and all notices required to be given under
16. OTIC :Unless otherwise specified in this Agreement,any at least one Buyer and
this Agreement must be given in wring- Notices to Seller must be signed by
es to
shall be deemed to be given when actually received by or lgiven when actually receiviced by
Buyer must be signed by at least one Seiler and shall be deemed to be
or at the residence of Buyer, or by or at the office of Selling Broker. Both parties must keep Brokers
advised of their whereabouts. Brokers have no respnsibility for notices beyond calling the Party
delivering the notice to the party's last known address.
17. CO PU ATIO OF Unless otherwise expressly specified herein, any period of time specified per
in this Agreement shall expire at 4:00 P.M. of the last calendar as prescribed of th RCW 1ed 1b 050 iod of
w�h
unless the last day is Saturday, Sunday or a legal holiday, p e
event the specified period of time shall expire at 4;00 pm_ of the next business day. Any specified
period of seven (7) days or less shall include business days only.
18, DEFAULTlTE]RMINATION: If this Agreement is terms oned de posit shall be deducted before the
under this Agreement to be advanced from the earnest money p
{ remaining earnest money is refunded to Buyer or forfeited to Seller. If a dispute should e arise dregarding s
the disbursement of any earnest money, the party holding the earnest money may rP seeks (ands
into court. Furthermore, if either Buyer or Seller under some circumstances retain the may money as
performance or damages, and the Seller may,
liquidated damages.
Page 3 of 5
Rcal mace Purchase and Sale Agreemmu
i
DEC.27.2004 9:36AM TIPPETT COMPANY NC.555 P.6i8
I
A-595
I
The earnest money shall be subject to retention by See, t p 'the sole
urchase of the properemedy, -
hereunder, in the event Buyer fails, without legal excuse, to complete P ursuant
In the event that the Buyer fails, with legal excuse. to complete the purchase of the Property, p
to the terms and provisions of this Agreement, then the earnest money shall be refunded to the Buyer,
a cost
less any costs authorized under this Agreement to be advanced from the earnest
afforded ney to thetntatslaw or
of the Buyer. Each Buyer and Seller shall have all the rights and
equity, and pursuant to the terms of this Agreement.
19. GENERAL pROViSIONS: Time is of the essence, There are no verbal S��m��Buyer modify
u
Agreement. This Agreement constitutes the full understanding between
personally observed the property and has reached Buyer's own conclusion as to the adequacy and
acceptability of the property based upon such personal inspection. Unless otherwise xP a e ly =stood
herein, square footage, dimensions Rnd/or be relied upon to determine the fime s or value of the
to be approximations and are not intended
property
20, GLAND TAXI PLIC NS: This Agreement affects your olr�advice f obligations
aany
will have tax implications. Agents are not permitted to give legal
questions regarding this Agreement and the addendums, attachments or other related documents, you
should consult an attorney or tax advisor. Further, if a dispute con and reasonable attozney'snfe�e
prevailing party(ies) (i.e., Buyer, Seller or Broker) shall recover
including those for appeals,
21. F CSIMTLE RANSMIS YON: Facsimile transmissions of any signed original document and re-
transmission of any signed transmission shall be the same as transmission of any original, At the
request of either party or closing agent, the parties will confirm facsimile transmitted signatures by
signing the original document.
22. .QONDITION OF P OPERTY:�2EPUSEN ATION: Buyer hash inspected object subject
ag nt
transaction, and is familiar with the conditions of all property which is the
Buyer accepts and agrees to purchase the property, real and personal, on the property
object of this agreement in its "as is"present condition, , without reliance upon any representation made
by owner as to the condition or suitability of said property. There are no warranties, express or
implied, which are the object of this offer beyond the description on the face hereof. Seller has made
no representations regarding the conditions or suitability for any purpose of the land, fixtures and
on his own judgment
improvements which are the object of this transaction. Buyer is relying solely
in entering into this agreement.
FjSTIRE a aREEMEN1. This document constitutes the entire agreement of the parties. There are no
verbal or other agreements which modify or altez this this R�Estat BPurc used and SalerAg Bement and
they have read and understand all of the contents Of
its attached Exhibit "A" -Map.
OFFER TO PURCHASE: Buyer offers to purchase the property on the above terms and conditions-
Seller shall have until 9:00 p.m• on October�,2004 to accept this offer, unless sooner withdrawn.
Acceptance by Seller shall not be effective until a signed copy hereof is actually received by or at the
page 4 of S
Real$state Purch=and sale Agreement
DEC.27.2004 9:37RM TIPPETT COMPPNY NO.655 P,7/6
A-595
office of the Selling Broker. If this offer is not so accepted, it shall lapse and the earnest money shall '
be refunded to Buyer.
BUYER: Trus-Way of Tri-Cities, Inc.
By:
.may•2l�
14o /
(city, State, Zip) Buyer's Phone (Work)
Buyer's-Address ( tY, p}
ACCEp AN E o CO O On this date, October
, 2.004, Seller agrees to sell
the property on the terms and conditions set forth in this Agreemena counter acknowledges en or attached
a copy of this Agreement signed by both pasties. If Se]1er has mad t the counter offer, unless
hereon, Buyer shall have until 4:00 P.M. on ! __ .� 2004, to accept
sooner withdrawn. Acceptance 4,91 not be effective until signed copy hereof is actually received by
or at the office of Broker, If the counter offer is not accepted, it shall lapse and the earnest money shall
be refunded to Buyer.
SELLER:
The City o o, ipal Corporation of the State of Washington
By:
ry Cru hfield, ity Manager
Approved as to Form:
By:
Leland B. Kerr, City Attorney
P.O Box 293 Pasco W 930 (502) 54 -3404
Seller's Address Seller's Phone
RECFIP On this date: October , 2004, Buyer acknowledges receipt of a copy of this
Agreement signed by both parties. If Seller has made a counter offer, Buyer accepts the counter offer.
BUYER: Trus-Way of Tri-Cities, Inc.
1
By:
Page 5 of 5
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