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Ordinance 2021-035 Approving a Purchase and Sale

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Ordinance 2021-035 Approving a Purchase and Sale ORDINANCE 2021-035 APPROVING A PURCHASE AND SALE AGREEMENT WITH 1011-1027 HUNTER HILLCREST LLC FOR THE HUNTER HILLCREST PROPERTY (1011- 1027 HILLCREST DRIVE, DEKALB, ILLINOIS). WHEREAS, the City of DeKalb (the “City”) is a home rule unit of local government which may exercise any power and perform any function pertaining to its government and affairs pursuant to Article VII, Section 6, of the Illinois Constitution of 1970; and WHEREAS, 1011-1027 Hunter Hillcrest LLC (the “Seller”) is the owner of property legally described in Exhibit A attached hereto and incorporated herein (the “Property”); and WHEREAS, the City and Owner are parties to a Settlement and Release Agreement dated April 21, 2021 (the “Settlement Agreement”) that gave the City an option to purchase the Property at a price equal to the Property’s appraised value as determined by an agreed appraiser, plus and minus standard prorations and credits; and WHEREAS, on July 31, 2021, the agreed appraiser determined that the Property’s appraised value as of June 29, 2021 is $1,185,000.00; and WHEREAS, the Settlement Agreement requires that the City and Seller enter into a purchase and sale agreement for the Property within 30 calendar days from the agreed appraiser’s determination of the Property’s appraised value; and WHEREAS, a purchase and sale agreement for the Property is attached hereto and incorporated herein as Exhibit B (the “Purchase Agreement”); and WHEREAS, the City’s corporate authorities find that approving the Purchase Agreement is in the City’s best interests for the protection of the public health, safety, morals and welfare; and NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of DeKalb, Illinois, as follows: SECTION 1: The recitals to this Ordinance are true, material, adopted and incorporated herein as Section 1 to this Ordinance. SECTION 2: The City’s corporate authorities approve the Purchase Agreement in the same or substantially similar form as Exhibit B attached hereto and incorporated herein, subject to such changes as shall be acceptable to the Mayor including, but not limited to, negotiating the final amounts of the standard prorations and credits. The City’s corporate authorities further authorize and direct the Mayor to execute, and the Executive Assistant to attest, the Purchase Agreement on behalf of the City, and for the Mayor, City Attorney and the City Manager or his designee to perform all acts necessary on the City’s behalf to effectuate the Purchase Agreement and the City’s purchase of the Property for an amount not to exceed $1,185,000.00, plus and minus standard prorations and credits. SECTION 3: Home Rule. This Ordinance and each of its terms shall be the effective legislative act of a home rule municipality without regard to whether such ordinance should (a) contain terms contrary to the provisions of current or subsequent non-preemptive state law, or (b) legislate in a manner or regarding a matter not delegated to municipalities by state law. It is the intent of the Ordinance 2021-035 City’s corporate authorities that to the extent that the terms of this Ordinance should be inconsistent with any non-preemptive state law, that this Ordinance shall supersede state law in that regard within its jurisdiction. SECTION 4: Effective Date. This Ordinance shall be in full force and effect from and after its passage and approval as provided by law. PASSED BY THE CITY COUNCIL of the City of DeKalb, Illinois at a Regular meeting thereof held on the ____ day of _______ 2021 and approved by me as Mayor on the same day. COHEN BARNES, Mayor ATTEST: _______________________________ Ruth A. Scott, Executive Assistant Ordinance 2021-035 EXHIBIT A (Legal Description of the Property) The Property is legally described as follows: LOT 703 IN TWELFTH ADDITION TO ROLLING MEADOWS SUBDIVISION, A SUBDIVISION OF PART OF THE NORTHWEST QUARTER OF SECTION 15, TOWNSHIP 40 NORTH, RANGE 4, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED IN BOOK “R” OF PLATS, PAGE 9 ON APRIL 14TH 1976 AS DOCUMENT NUMBER 392887, IN DEKALB COUNTY, ILLINOIS, DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF SAID LOT 703; THENCE EASTERLY ALONG THE NORTH LINE OF SAID LOT 703, A DISTANCE OF 191.90 FEET FOR THE POINT OF BEGINNING; THENCE SOUTHERLY PARALLEL WITH THE WEST LINE OF SAID LOT 703, A DISTANCE OF 220.61 FEET TO THE NORTH LINE OF HILLCREST DRIVE, SAID NORTH LINE BEI ON A CURVE THE RADIUS OF WHICH IS 1017.69 FEET; THENCE EASTERLY ALONG THE NORTH LINE OF HILLCREST DRIVE ON A CURVE TO THE LEFT, A DISTANCE OF 223.82 FEET (THE CHORD DISTANCE OF THE LAST DESCRIBED COURSE BEING223.37 FEET), TO A POINT OF REVERSE CURVATURE; THENCE CONTINUING EASTERLY ALONG THE NORTH LINE OF HILLCREST DRIVE ALONG A CURVE TO THE RIGHT THE RADIUS OF WHICH IS 635.0 FEET FOR A DISTANCE OF 2.86 FEET (THE CHORD DISTANCE OF THE LAST DESCRIBED COURSE BEING 2.86 FEET); THENCE NORTHERLY PARALLEL WITH THE WEST LINE OF SAID LOT 703, A DISTANCE OF 167.12 FEET TO THE NORTH LINE OF SAID LOT 703; THENCE WESTERLY ALONG THE NORTH LINE OF LOT 703, A DISTANCE OF 219.8 FEET TO THE POINT OF BEGINNING. AND LOT 703 IN TWELFTH ADDITION TO ROLLING MEADOWS SUBDIVISION, A SUBDIVISION OF PART OF THE NORTHWEST QUARTER OF SECTION 15, TOWNSHIP 40 NORTH, RANGE 4, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED IN BOOK “R” OF PLATS, PAGE 9 ON APRIL 14TH 1976 AS DOCUMENT NUMBER 392887, IN DEKALB COUNTY, ILLINOIS, DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHWEST CORNER OF SAID LOT 703; THENCE EASTERLY ALONG THE NORTH LINE OF SAID LOT 703, A DISTANCE OF 191.90 FEET; THENCE SOUTHERLY PARALLEL WITH THE WEST LINE OF SAID LOT 703, A DISTANCE OF 220.61 FEET TO THE NORTH LINE OF HILLCREST DRIVE, SAID NORTH LINE BEING A CURVE THE RADIUS OF WHICH IS 1017.69 FEET; THENCE WESTERLY ALONG THE NORTH LINE OF HILLCREST DRIVE ON A CURVE TO THE RIGHT, A DISTANCE OF 129.62 FEET (THE CHORD DISTANCE OF THE LAST DESCRIBED COURSE BEING 129.53 FEET), TO THE POINT OF TANGENCY OF SAID CURVE; THENCE CONTINUING WESTERLY ALONG THE NORTH LINE OF HILLCREST DRIVE, A DISTANCE OF 62.63 FEET TO THE SOUTHWEST CORNER OF SAID LOT 703; THENCE NORTHERLY ALONG THE WEST LINE OF SAID LOT 703, A DISTANCE OF 228.85 FEET TO THE POINT OF BEGINNING. Common Address: 1011-1027 Hillcrest Dr., DeKalb, IL 60115 PIN: 0815151014 EXHIBIT B (Purchase and Sale Agreement 1011-1027 Hillcrest Drive) PROPERTY PURCHASE AND SALE AGREEMENT (1011-1027 Hillcrest Drive) THIS PURCHASE AND SALE AGREEMENT (the “Agreement”) is made as of August 30, 2021 (the “Effective Date”), by and between the City of DeKalb (the “City ” or “Purchaser”), an Illinois home rule municipal corporation, office at 164 E. Lincoln Hwy., DeKalb, IL 60115, and Hunter 1011-1027 Hillcrest LLC (“Hunter” or “Seller”), an Illinois limited liability company, office at 2201 W. Main St., Evanston, IL 60202, who are collectively referred to as the “Parties”. NOW, THEREFORE, IN CONSIDERATION OF THE MUTUAL COVENANTS SET FORTH BELOW, the receipt and sufficiency of which are hereby acknowledged by the Parties, and pursuant to the Parties’ Settlement and Release Agreement dated April 21, 2021, the Parties agree as follows: 1. Purchase/Price/Property. Subject to the terms and conditions provided herein, Hunter agrees to sell and convey, or cause to be sold and conveyed, and the City agrees to purchase, for the price of $1,185,000 (One Million One Hundred Eighty Five Dollars and Zero Cents) (the “Purchase Price”), the following: (a) the property located at 1011-1027 Hillcrest Drive, DeKalb, IL 60115, Permanent Index Number 08-15-151-012, more particularly described on Exhibit A attached hereto and incorporated herein (the “Property”), together with all of Seller's right, title, and interest in and to all easements, rights, tenements, and appurtenances thereunto belonging, including Seller's right, title, and interest in and to all streets, alleys, or public ways (whether before or after vacation thereof); (b) Seller's right, title, and interest in and to all buildings, fixtures, and other improvements on the Property (the “Improvements”); (c) all of Seller's right, title, and interest in and to all of Seller's tangible personal property, equipment, and supplies located on the Property or the Improvements, all of Seller's intangible personal property pertaining to the Property and Improvements consisting of, to the extent assignable (without payment of any transfer, assignment, or similar fee), (i) contract rights specifically relating to the operation, repair, maintenance, or upkeep of the Property, Improvements and tangible personal property described in this clause (c), and (ii) utility contracts (the “Personal Property”); and (d) all of Seller's right, title, and interest in and to all agreements, pursuant to which any portion of the Property or Improvements is purportedly used or occupied by anyone other than Seller, listed and described on Exhibit B attached hereto and incorporated herein (the “Leases”). 2. Seller/Deed. Seller agrees to sell the Property at the price and terms set forth herein, and to convey or cause to be conveyed to Purchaser, or Purchaser’s nominee, title thereto by a recordable special warranty deed (the “Deed”), with release of homestead rights, if any, free Page 1 of 27 and clear of any mortgages, liens, mechanics liens, other security interests and any property taxes due and payable prior to the date of closing and subject only to: (a) covenants, conditions and restrictions of record; (b) private, public and utility easements and roads and highways, if any; (c) the Leases disclosed in Exhibit B; and (d) property taxes for the year 2021 (payable in 2022) which are not yet due and payable as of closing and subsequent years.
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