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Home My WebLink About8.b. Option Agreement for Fire Station Property CITY OF ROSEMOUNT EXECUTIVE SUMMARY FOR ACTION CITY COUNCII,MEETING DATE: NOVEMBER 7, 1995 AGENDA: OPTION AGREEMENT FOR FIRE AGENDA SECTION: STATION PROPERTY NEW BUSINESS PREPARED BY: Thomas D. Burt, AGENDA NO: Q Q City Administrator �� V L� ATTACHMENTS: OPTION AGREEMENT APPROVED BY: The attached option agreement was prepared by the City attorney for the proposed fire station land. Subject to the referendum out come, this option will secure the land until January 1, 1996, for$1.00 until the decision is made to purchase the land. The purchase price for the land is $189,424.00. If the referendum should fail, no action is needed on this option agreement however, the City Council should consider the possibility of purchasing land for a future station. Regardless of the referendum results, the future growth of Rosemount must be considered and purchasing land for a possible future fire station needs to be considered a priority. Staffhas reviewed a number of possible sites for a future fire station and if directed would work on securing a site for possible acquisition. , ; ; RECOMMENDED ACTION: MOTION to approve the Option Agreement for purchase of land for a proposed fire station for the cost of$1.00 effective until January l, 1996. COUNCIL ACTION: � OPTION AGREEMENT . This AGREEMENT, made and entered into this day of , 199_ by and between WENSMANN REALTY,ING (the "Seller")and THE CITY OF ROSEMOUNT, MINNESOTA (the "Buyer"), a public body politic and corporate under the laws of the State of Minnesota. _ 1. OP'I'ION. In consideration of the sum of ONE DOLLAR ($1.00) and other good and valuable consideration, ihe Seller hereby grants to the Buyer the exclusive option to purchase real property lacated in the City of Rosemount, County of Dakota, State of ' Minnesota and described at Exhibit A (the "Property"). 2. OPTION EXPIRATION DATE. This option shall commence on the date of this � Agreement and shall expire at 12:01 a.m. on January l, 1996. 3. PURCHASE PRICE. The total purchase price shall be $189,425. The purchase price , shall be paid in full upon closing. 4. EXERCISE OF OP'1'TON. The Buyer shall exercise the option granted herein by giving Seller written notice of its desire to exercise its option to purchase the Property on or before the "Option Expiration Date" referenced in paragra.ph 2 above. In the event the Buyer does not exercise its option to purchase the Property, neither party shall have any t further rights or obligations to the other hereunder. ; 5. REAL PROPERTY TAXES AND ASSESSMENTS. The Seller shall pay all reai property taxes attributable to the Property being sold hereunder due and payable in all years up to and including those due and payable in the year prior to the year of closing. If closing occurs in 1995, all reai property taxes attributable to the Property being sold hereunder due and payable in 1995 shall be pro-rated between the Buyer and the Seller as of the date of closing. If closing occurs in 1996, the Buyer shall pay all real property taxes attributable to the Property being sold hereunder due and payable in 1996 and in subsequent yeazs. The Seller shall also pay all special assessments levied against and attributable to the Property being sold hereunder prior to and including the closing date. Each party hereto covenants and agrees to pay its respective portion of the real estate taxes (including assessments and interest on assessments certified therein) in a timely manner. This provision shall survive closing. <.:, 6. NOTICE. Any notice required to be given by Buyer to Seller shall be deemed to have .� been given on the day of delivery if personally delivered or, if by mail, three (3) days after the date that it is deposited in the United States Mail, postage prepaid, sent by certified mail and addressed as follows: Wensmann Realty, Inc. 3312 151st Street West Rosemount, MN 55068 DJG�5383 ' Rsazo-i� 1 Any notice required to be given by Seller to Buyer shall be deemed to have been given on the day of delivery, if personally delivered or, if by mail, three (3) days after the date that it is deposited in the United States Mail, postage prepaid, sent by certified mail and addressed as follows: City of Rosemount P.O. Box 510 _ Rosemount, MN 55068-0510 ATIN: City Adminisuator 7. RIGHT OF BUYER TO ENTER PROPERTY. The Buyer shall have tl�e right to enter onto the Property prior ta exercising its opdon to make such inspections and conduct soil and other tests on the Property as Buyer, in its sole discretion, deems advisable; provided however, the Buyer shall not do any grading, excavation, or maving of soil except to move soil for the purpose of taking soil borings and soil samples on any of the Property; and further provided that the Buyer will repair and replace any soil disturbed for the purpose of soil borings and samples and indemnify the Seller from all liens, liability, loss, costs and obligations, clairns and alleged claims including reasonable attorney's fees, arising out of injuries to persons or Property occurring on account of Buyer, its employees, agents,or contractors,from entering onto any of the Property,conducting tests or making inspections contemplated by this agreement. This indemnification shall survive closing or the termination of this agreement. Buyer's obligation to indemnify shall not '�� be deemed a waiver of the limitations on liability set forth in Minnesota Statutes, Chapter ; 466. 8. HAZARDOUS SUBSTANCES. The Seller represents to the Buyer that to the best of its knowledge, there are not now, nor have there ever been hazardous substances, as defined � in Minnesota Statutes, Section 11SB.02, or toxic waste buried or otherwise located on the Property. The Buyer may, at its own cost, hav� an environmental inspection performed on the Property to deternune whether hazardous substances or toxic waste presendy are � or have been located on the Property. 9. SOIL CONDITIONS. The Buyer will determine prior to the Option Exercise Date whether soil conditions on the Property are acceptable for the construction of any development proposed by the Buyer. If at any time prior to the Option Exercise Date the � Buyer determines that environmental or soil conditions make the Property unsuitable for I its purposes, the Buyer may terminate this Agreement and neither party shall have any - further rights or obligations to the other hereunder. +, 10. CL_ OSING. If Buyer executes its option to purchase the Property,closing on the purchase of the Property shall occur at a date agreed upon by the parties, but in no case later than March 1, 1996. Upon closing, the Seller shall execute and deliver to Buyer a deed substantially in the form attached at Exhibit B. Such deed shall convey marketable tide to the Property being sold hereunder subject anly to the following exceptions: (a) Building and zoning laws, ordinances, state and federal regulations; DJG95383 2 RS220-i7 (b) Reservation of any mineral rights by the State of Minnesota; (c) Utility and drainage easements; and (d} Utility lines in place. 1l. PRECONDTTIONS TO CLOSING. Within 30 days following the notice of exercise of the option, the Seller shall, at its own expense, fiunish the Buyer with a commitment for title insurance covering the Property. The Buyer shall have 10 days following receipt of - such commitment to make written objections to title as disclosed in the commitmen� Any objections to title not made in writing within such period shall be deemed waived. The Seller sha11 have 60 days from the receipt of such written objections to: (a) cure the objections; � (b) obtain at its own expense a policy for title insurance insuring against the objections; (c) pay the Buyer at closing an amount of money which in the Buyer's judgment will adequately cover the cost of curing any objection; or (d) take none of the actions described in (a), (b) or (c) above. ff the Seller takes one of the acrions described in (a), (b), or (c) above, the purchase shall proceed to closing and if the Seller is undertaking to cure the objections, the date for closing shall be appropriately extended. If the Seller elects to follow (d), the Buyer may either elect to terminate the purchase whereupon the parties shall be relieved of any further obligation hereunder, or may elect to proceed to closing notwithstanding the uncured objections and take title to the Property subject thereta 12. Documents. The following documents shall be in approved form, be executed either before or at closing, and be delivered at closing: (a) deed in recordable form from the Seller to the Buyer conveying the Property; (b) well disclosure statements prepared on forms provided for that purpose,or if none, a statement in the deed to that effect; (c) �any Owner's Duplicate Certificates of Title or abstracts for the Property that are in the Seller's possession; and (d) such other �davits or other documents as might be required by the title insurer to issue a title policy, or which may be required by any govemmental entity or - agency. DJG95383 ss2zo-i� 3 13. Costs. Costs shall be allocated as follows: (a) Each party shall pay its own attomey's fees. (b) The Seller shall pay all fees and charges required in connection with recording the � deed and other instruments to be recorded in connecrion with this transaction, including, but not limited to,,State Deed Tax. (c) The Buyer shall pay the premium expense for any policy of tide insurance _ covering the Property. (d) Any fees chazged by the dde company and not otherwise allocated by this Agreement will be divided equally between the parties. IN WTTNESS WHEREOF, the parties have affixed their hands hereto as of the date set forth above. WENSMANN REALTY, INC. CTTY OF ROSEMOUNT, MINNESOTA, a � public body politic and corporate under the laws of the State of Minnesota By By ., 9p �-.- - � Herbert H. Wensmann I� President BUYER SELLER .:� DJG95383 4 R5220-17 EXHIBIT A LEGAL DESCRIPTION OF PROPERTY DJG95383 � RS220-17 Fomi No.3-M-W ARRANIY DFED I�6nana+Uaitam Canve„neing Blanks f 1978) ` �. Capontion or P�Menhip b � . � ' - - Cwponum m AMenkp � � . No delinquent taxes aad transfer entered;C�cate of Real Estate Value( )filed( )not required Certificate of Real Estate Valne No. : 19 . County Auditor bY �ty STATE DEED TAX DUE I�REON: S s Date: , 199_ (reserved for rxmding data) FOR VALUABLE CONSIDERATION, Wensmann Realty, Inc., a corporation under the laws of Minnesoca.Grantor, hereby conveys and wanants ro the City of Rosemount.Minnesota,a public body pol[ac and cotpotate under the laws of Micmesota,Grantee property in Dakota County,Minnesote.descdbcd as follows: ' LEGAL DESCRiP'fION I�RE together with all hereditaments and appurtenances belonging therero. � The seiler certifies that the seiler dces not know of any wells on the described ceal property. , (it mae apuxi ia needed.cantinue on back) � . Wensmann Reaity,inc. Affix Deed Tax Stamp Here By EIerbert H.Wensmann �: Its President i STATE OF MINNESOTA COUNTY OF �� The foregoing was acknowledged before me ihis day of , 1995,by Herbect H.Wensnann,ihe President of Wensmann Realty,Inc.,a corporadon under the laws of Minnesota.on behatf of the corporation. NOTAIWL STAMP OR SBAI.(OR OTF�R'tfILB OR RANK) SIGNATURS OF PERSON TA[CIIdG ACKNOWLSDGMENT Tax Statements for the nel property desaibed in this�nstrument should be sent w(inctude name and eddress of Grentee} ' City of Rosemount 'CF�S RJSTRUt.�M'WAS DRAEIFD BY(NAME nPtD ADDRES31: � A[tn: City Administratoi � � . . . P.0.Hox 510 • Rosemount,IrW 55068-OS10 KENNEDY&GRAVEN,Chartered �;�: 470 Pilisbury Center . 200 South 6th Street Minneapolis,MN 55402 (612)337-9300(dJS)' „ " , . . . . OJG95�90 � . � . . � � �� . � . � RS220-17 � . � . . . . . C1TY OF ROSEMOUNT-CITY ELECTION-NOVEMBER T,199b SUMMARY OF VOTES FROM ALL PRECINCTS PRECINCT PRECINCT PRECINCT PRECINCT PRECINCT OFFICE CANDIDATE 1 2 3 4 5 TOTAL �� MAYOR BOUCHARD,MAUREEN 131 191 188 112 109 649�� MAYOR BUSHO.CATHY 303 779 138 208 137 983 (j� ��71 MAYOH KAY,PETER 333 94 158 125 107 817 ('�� MAYOR WILLCOX,HARRY � � 2 MAYOR WELCH,THOMAS a 2 MAYOii KRIESEL,STEPHEN 3 3 MAYOR COOK,BRAD � � MAYOR R08ERTS,RON 1 � MAYOR OROSTE.WILLIAM � � MAYOR RESBURG,KIRK � � MAYOR McMENOMY � � MAYOR WOMACK,TERR`! � � MAYOR BLIESE,CARY �' � MAYOR � MAYOR � T70 405 487 443 352 2437 2437 PRECINC7 PRECINCT PRECINCT PRECINCT PRECINCT OFFICE CANDIDATE 1 2 3 4 5 TOTAL COUNCILN~ CARROLL,KEVIN �.�, 469 252 271 -~N�261 199 ��1448 C�� COUNCIL COOK,BRAD 128 110 82 97 '76 493 L�� COUNCIL STEVENSON,RENEE 183 �92 2�5 �� 3� �[� ' COUNCIL WIPPERMANN,DENNIS 515 211 253 233 2� 144� «) COUNCII CORRIGAN,KIM SHOE . � � COUNCIL BOUCHARD,MAUREEN G. � � COUNCIL OXBOROUGH,JOHN � � ' COUNCIL KLASSEN,SHEILA � � . COUNCIL STRESE,STEVE 2 2 � COUNCIG TALBERT,KEN � � COUNCIL WAISH,LARRY 2 2 COUNCIL WALSH,JOE � � - COUNCIL 3TEPANI,JOHN A. � � i COUNCIL STAATS,JAMES � � a COUNCiI ANDREWS,DAN � 1 � COUNCIL BUE3E,CARY � � COUNCIL TONKIN,JACK � � ' COUNCIL BENEVIDES,ELENO � � COUNCIL JOHNSON,DEB � 1 COUNCIL .. .. � 1900 7� 8� 783 835 4�5 ; 4� FlRE STA710N REFERENDUM , YES 477 245 226 �4 124 1358 —yE�j NO 339 183 247 194 240 1203 - (�O 818 4� 473 478 364 2559 2559 �� ISD+Y198 REFERENDUM YES 325 110 137 207 98 907 NO 492 287 994 275 285 7653 ;.-j 817 427 477 482 983 2.580 2560