R-98-25RESOLUTION NO. R -98- 25
WHEREAS,. the Village of Deerfield is an Illinois Home Rule municipality exercising
home rule powers pursuant to the Illinois Constitution of 1970; and
WHEREAS, pursuant to Ordinance 0 -09 -19 adopted April 20, 1998, the Corporate
Authorities of the Village of Deerfield authorized an acquisition of property within the
Corporate limits of Deerfield for the purposes of downtown redevelopment; and
WHEREAS, the owner of said property and the Village have negotiated a contract
for the purchase of this property at 711 Waukegan Road, Deerfield, Illinois,
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF
TRUSTEES OF THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS:
SECTION That the purchase price for 711 Waukegan Road in the
ONE: amount of $375,000 is hereby approved according to the terms
and conditions stated in the attached Contract to Purchase
Real Estate.
SECTION That Special Counsel Joseph T. Morrison is hereby authorized
TWO: to take all steps necessary to complete said purchase and to
assure that proper title is vested in the Village of Deerfield.
SECTION That the Mayor and Village Clerk of Deerfield are authorized
THREE: to execute all documents on behalf of the Village necessary to
complete said purchase.
SECTION That the Village Manager of Deerfield is hereby authorized to
FOUR: take any steps necessary to fully effectuate the terms and
conditions of the purchase of said property.
AYES: Ehlers, Heuberger, Rosenthal, Seidman, Swanson, Swartz (6)
NAYS: None (0 )
PASSED this 81 day of September, A.D., 1998.
APPROVED this 8"' day of September, A.D., 1998.
ATTEST: Mayor
Village Clerk
LAKE COUNTY ASSOCIATION OF REALTORS@
[130 CONTRACT TO PURCHASE REAL ESTATE 8/26/26
REALTOR" ii .4 "M,. This document will become a legally binding Contract when signed by all parties and delivery is effected. Date Written
t. 1. PARTIES. Buyer(s), Village of Deerfield agree to purchase, and
2. Seller(s), Deerfield Temple Association, an Illinois non - for - profit corporation agree to sell to Buyer atthe
3. PURCHASE PRICE of $ 375, 000.00
4. the property commonly known and /or legally described as: 711 Waukegan Rd., Deerfield, IL 60015
!4111
6. with approximate lot dimensions of irregular, Approx. L.7 , JZZ Sq . 1"t. , together with all improvements and fixtures, if any,
r, located on the premises as of the date of the Contract, including: screens, storm windows and doors; shades and blinds; drapery rods; curtain rods; attached TV
8. antenna; attached mirrors, shelving, shutters, cabinets and bookcases; planted vegetation; attached fireplace screens and doors; attached gas grills; wall to wall carpet;
9. water softener; garage door opener(s) and transmitter(s); all smoke detectors; ceiling fan(s); and central vacuum equipment;
to.
B
12. All of the foregoing items shall be left on the premises, included in the sale price and conveyed to Buyer at the time of closing. Any items of personal property will be
13. conveyed to Buyer at the time of closing by a warrantable Bill of Sale.
t. 2 . 10111111111 Ift 11-
15. Earnest money, to be increased to a
(broker)
17. As required by Illinois Statute,
18. the Contract.
shall be deposited into an escrow
19. 3. ACCEPTANCE. Acceptance of any ounter- offet(s) shall be completed w et n y-exwu
20. the other party's Designated Agent. Initial earnest money shall be returned and the Contract to
shall be held in escrow
day after the date of acceptance of
and /or Counter - ofter(s) are delivered to
Mttye-v iLanLacceoted on or before
22. 4. METHOD OF PAYMENT. The purchase price is to be paid at the closing by cash or cashier's check, after application of the earnest money thereto, application of
23. the amount of the existing mortgage or other lien indebtedness, and /or application of the amount of the purchase money note and mortgage or articles of agreement for
24. warranty deed, if applicable. (Cross out inapplicable subparagraphs.)
26. a Conventiona (Type) Mortgage Loan of $ or such Jesse yer elects to
27. take. The interest rate (initial rate, i II not exceed % per annum, amortized over not I years. Buyer shall pay loan
2e. origination fee and /or discount points not to exceed loan amount. oan origination fee and /or discount points not to exceed
29. % of the loan amount. Those fees /points committed to a fer to Paragraph 12 for additional conditions.
30. B. Other Financing. The Con n upon Buyer obtaining the type of financing designated below an cribed in the appropriate financing
D. Rider attac incorporated herein. ( ) Articles of Agreement for Deed (LCAR 401) ( ) Purchase o gage CAR 402)
33. 5. DEED. Seller shall convey or cause to be conveyed to Buyer or his nominee, by a recordable, stamped, general warranty deed (or other appropriate deed if title to
34. the property is in trust or an estate) with release of homestead rights, good and merchantable title to the premises subject only to the following permitted exceptions, if
35. any, and further provided that the exceptions do not interfere with Buyer's use of the property for the same use in effect at the date of the Contract: (A) general real
36. estate taxes for 19_8_ and subsequent years; (B) building, building lines and use or occupancy restrictions, covenants and conditions of record; (C) zoning laws and
37. ordinances; (D) visible private and public roads and highways and easements therefore; (E) easements for public utilities which do not underlie the improvements upon
3e. the property; (F) drainage ditches, feeders, laterals and drain tile, pipe and other conduit; ; (H) acts of Grantees; (1) associatiorrdues
3
4o. 6. ILLINOIS RESIDENTIAL REAL PROPERTY DISCLOSURE REPORT. Buyer acknowledges receipt of a completed Seller Disclosure Form, pursuant to the Illinois
41. Residential Real Property Disclosure Act, prior to Buyer's signing of this agreement unless this transaction is excepted from such Act.
42. 7. CLOSING. The date of closing shall be September 15, 1998, or before if mutually agreed, unless extended by the provisions of Paragraph 13. The
43. sale shall be closed at at the office of Chicago Title Insurance, 32 N. West St.
44.8. POSSESSION. Waukegan, IL
45, A. Seller agrees to vacate and surrender possession on September 15, 1998 provided the sale has been closed. Until possession is
46. tendered, Seller shall pay for all fuel, water, and other utilities consumed in or about the property.
47. B. If possession is not delivered at or prior to closing, the sum of $ 10, 000.00 will be withheld at closing from Seller's proceeds of this sale and
4e. shall be held in escrow by the same party named in the Contract to hold the500est money.
49. C. From Seller's proceeds at closing, Buyer shall receive the sum of $ OU for each day beginning with the day after closing and including
50. the day specified in 8 A above.
52. $ _ the escrow for each day that possession is not so surrendered beginnin wi specified in 8A above,
53. and including the day that Seller tenders possessio . has va or o tender of possession, possession shall be deemed
54. tendered when Seller delivers keys for the premise emamin a aid to Seller. This possession shall not in any way
55. limit Buyer's oth r e er's failure to timely deliver possession as provided in 8A. This escrow is ein Reld•sol ose of payment of
yrrt de fer delayed pessessieri, and sueh esefew shall mat be tised fer any ether pu pose.
57. 9. SPECIAL ASSESSMENTS. Seller agrees to pay prior to or at closing: (A) special assessments confirmed prior to closing for improvements not yet completed;
58. (B) installments not due at the date thereof for any special assessment for improvements heretofore completed.
60. location of the improvemen s er of improvements, ' i s; ui ng lines; easements, driveways,
61. roads or highways. An encro a eemed to a unac er is aware of such encroachment and
63. 11. RIDERS. In the event of any inconsistency between the provisions of the Contract and the Rider(s), the Rider(s) shall prevail
64. conditions set forth on the back page hereof, and Riders attached hereto:
COUNTER -OFFER FORM ATTACHED Yes C1 No Cl Date of Acceptance: Time:
Buyer (signal ayor, Vil ag of Deerf ield Seller (sign ., �� /,��� S�
The Contract is made subject to the
Buyer (signature) Village of Deerfield
Print Name of Buyer (s)
850 Waukegan Rd.
Address
Deerfield, IL 60015
City State Zip
847/945 -0214
Phone -- --- - - - --- -- Fax ----- - - - ---
Joseph T. Morrison
Buyer's Attorney
32 N. West St., Waukegan, IL 60085
Address
847/244 -2660 847/244 -6817
Phone Fax
Phone Fax
Seller's Attorney
Address (a- 1 C V 4° � A) _T
1
Phone C-47 Fax
Selling Office ID # Listing Office ID #
Buyer's Designated Agent ID # Seller's Designated Agent ID #
Address Address
Rrh 1096
65. 12. BUYER'S MORTGAGE COMMITMENT.
66. A. I. Buyer shall, within seven (7) days of acceptance of the Contract, make written application' for such loan with a lending institution having` available the
„ 87., terms as set forth in Paragraph 4A.
68. 11. In the event such terms are not available, Buyer shall notify Seller in writing within seven (7) days of acceptance of the Contract and the Contract
69. shall become null and void and earnest money returned to Buyer in accordance with Paragraph 19 of the Contract. Absence of written notice shall signify
,7o. Buyer's election to accept the available interest rate and /or fees /points.
71. III. In the event said terms are available and Buyer elects to lock in, Buyer shall do so with a lock provision consistent with the Contract closing date.
72. IV. In the event Buyer elects not to lock in, Buyer agrees to pay any increase in interest rate and /or fees/ points that may occur.
73. V. Failure to make application within the time specified above (not withstanding provision 11) shall constitute an act of default under the
74. Contract.
75, VI. If Buyer fails to close in accordance with the Contract or any amendment thereto due to increased Interest rate and /or fees /points, such
76. failure shall constitute an act of default under the Contract.
77. VII. Buyer shall pay the cost of application, usual and customary processing fees and closing costs charged by lender. In addition, Buyer shall make
78. monthly deposits and payments for taxes, property insurance and private mortgage insurance as may be required by lender as a condition of the mortgage
79, loan.
80. VIII. If, after making written application for such loan, Buyer fails to obtain such commitment, Buyer shall notify Seller in writing within the time specified in
81. Paragraph 4A. If said notice is not given, Buyer shall for all purposes be deemed to have waived this contingency.
62. B. If Paragraph 4A or 413 is applicable, upon receipt of notice of Buyer's inability to obtain mortgage financing, Seller may, at Seller's option, within forty -five
83. (45) days of such notice, secure a written commitment from a lending institution or Seller for a loan to Buyer with the same terms. In such event, Buyer
84. agrees to promptly furnish all data necessary, to the extent permitted by law, for loan approval, pay Buyer's charges set forth in Paragraph 4A or the appro-
85. priate financing Rider referenced in Paragraph 413 and sign customary papers relating to the application and securing of mortgage commitments; and Seller
86. shall pay all other required fees including the application fee. If Buyer notifies Seller as above provided, Seller shall notify Buyer within three (3) days after
87. the date of delivery of Buyer's notice to Seller of Seller's election to attempt to obtain financing for Buyer. If Seller fails to notify Buyer, then the Contract
88. shall be null and void and earnest money returned to Buyer. If Seller elects to obtain such financing for Buyer, and Seller is successful in obtaining such
89. written commitment for financing, Seller shall notify Buyer of the written commitment for such financing within the time specified in this paragraph. If Seller
9o. fails to notify Buyer within such additional time period, then the Contract shall be null and void and all earnest money returned to Buyer.
91. C.Should Buyer receive a mortgage commitment conditioned upon the sale and /or closing of Buyer's existing property, said commitment shall
92. satisfy the terms of the mortgage contingency provision contained in the Contract and /or Riders.
93. 13. TITLE INSURANCE. At least five (5) days prior to closing date, Seller, at Seller's expense, shall show to Buyer or his agent, evidence of
94, merchantable title by delivering a commitment for title insurance from a title insurance company licensed to do business in the State of Illinois, satisfactory
95. to Buyer and lender, bearing date of, or subsequent to, the date of acceptance hereof in the arnount of the purchase price subject only to items listed in
96. Paragraph 5 hereof, and standard conditions and exceptions listed in said commitment for title. If the Contract is contingent upon Buyer securing
97. mortgage financing as set forth in Paragraph 4 hereof, until advised to the contrary, Seller is entitled to assume that mortgagee will order the commitment
98. for title insurance required herein, and any delay in the delivery thereof shall not be a default of Seller. Every commitment for title insurance furnished by
99. Seller or Buyer's mortgagee hereunder, shall be conclusive evidence of good title as herein shown, subject only to the exceptions therein stated. 11
loo. evidence of title discloses other defects, Seller shall have thirty (30) additional days to cure such defects and notify Buyer, but Buyer may take title with
1o1. other defects, (with the right to deduct from the purchase price any liens or encumbrances for a definite or ascertainable amount) by notifying Seller and
102. tendering performance. Existing mortgage and other lien indebtedness may be paid at closing out of sale proceeds, unless Buyer takes title subject
103. thereto.
roo. 14. FINAL INSPECTION(S). Inspection(s) of the premises shall be made, if requested by Buyer, within five (5) days prior to possession and /or closing
105. date(s).
1o6. 15. HOME INSPECTION CONTINGENCY. Within five (5) calendar days after the date of acceptance, Buyer may secure, at Buyer's expense, a home
107. inspector to inspect the premises. In the event said inspection reveals a material defect in the structure of the property or systems, i.e. plumbing, heating,
1o8. cooling, ventilation or electrical, which is unacceptable to Buyer, Buyer shall give written notice to Seller within the time specified above stating the nature of
log. such defect and provide a copy of the inspection report. Within three (3) days from receipt of such notice, Seller shall notify Buyer in writing of his election of
11o. one or more of the following options: (A) to correct such defect prior to closing; (6) to enter into an agreement with Buyer as to the apportionment of the cost
111, necessary to correct such defect. In the event Buyer and Seller cannot reach an agreement within three (3) days of Buyer's receipt of Seller's notice, either
112. Seller or Buyer, in writing, may elect to declare the Contract null and void, and all earnest money shall be returned in accordance with Paragraph 19; (C) to
113, declare the Contract null and void, and earnest money returned in accordance with Paragraph 19. In absence of written notice by Seller within the time
114, specified herein, Buyer may declare the Contract null and void. Failure of Buyer to notify Seller in writing of such defect and to provide a copy of the inspec-
115, lion report within the time specified above shall be deemed a waiver of any rights which Buyer may have under the terms of this contingency and the
116. Contract shall be in full force and effect.
117. 16. ATTORNEY'S APPROVAL CONTINGENCY. Within three (3) business days after the date of acceptance, the respective attorney's of the parties may
1m approve and /or make modifications, other than price and dates, to the Contract. In the absence of written notice within the time specified above, this
119. contingency shall be deemed waived by all parties and the Contract shall be in full force and effect. If written notice is given and all parties cannot agree,
120. the Contract shall become null and void and earnest money returned in accordance with Paragraph 19.
121. 17. CLEAN CONDITION. Seller shall provide sufficient maintenance of the property, including landscaping, so that, upon tender of possession the
122. property shall be in the same condition as at the date of signing of the Contract by Buyer, less ordinary wear and tear. Seller agrees to leave the premises
123. in broom clean condition, all refuse and personal property not to be conveyed to Buyer shall be removed from the premises at Seller's expense before the
124. date of possession.
125. 18. PRORATIONS. Fuel on hand, water and other utility charges shall be prorated to date of possession.' Real estate taxes, premiums upon assignable
126. insurance policies (other than homeowner's insurance policies) if requested by Buyer, rents and other proratable items shall be prorated to the date of
127. closing. The proration of real estate taxes shall be computed on the basis of 105% of the most recent ascertainable taxes. All prorations shall be final,
128. except that if the property herein is improved, but the last available tax is on a vacant basis, the parties hereto agree to reprorate when the bill on the
129. improved property is available. Seller shall pay the amount of any stamp tax imposed upon the transfer to title by state statute and county ordinance and
130. Buyer shall pay any similar taxes imposed by local ordinance, unless the local ordinance imposes the tax on. Seller. Security deposits evidenced by a
131. written instrument, and interest thereon, if required by statute or ordinance, shall be transferred to Buyer in the form of a credit against the purchase price at
132. closing.
133. 19. PERFORMANCE. Time is of the essence of the Contract. In the event of default by Seller or Buyer, the parties are free to pursue legal remedies at
134. law. There shall be no disbursement of earnest money unless Escrowee has been provided written agreement thereto from Seller and Buyer. Absent an
135. agreement relative to the disbursement of earnest money within a reasonable period of time, Escrowee may file an action in the nature of interpleader in the
136. Circuit Court of the county in which the Escrowee's office is located, to resolve the issue. Escrowee shall be reimbursed from the earnest money for all
137. costs, including reasonable attorney's fees, related to the filing of the interpleader action. Seller and Buyer shall indemnify and hold Escrowee harmless
138. from any and all claims and demands.
139. 20. NOTICES. All notices required or otherwise given hereunder shall be in writing. Unless other notice provisions have been agreed to in writing, notice
140. may be served to Buyer, Seller, their Designated Agent or their Attorney, either personally or by facsimile. Personal delivery or facsimile transmission shall
141. be sufficient if made to the address or facsimile number on the front of the Contract, or such address or facsimile number as may be provided. If
142. transmitted by facsimile, any such notice shall be deemed effective on the date of such transmission. Notice to any one of a multiple person party shall be
143. sufficient notice to all. The failure of any party to provide their own or their agent's address or facsimile number shall be deemed a waiver of the
144. right to receive notice.
145. 21. AFFIDAVIT OF TITLE AND ALTA STATEMENT. Seller shall furnish Buyer at closing with an Affidavit of Title, covering the date of closing, subject
146. only to those permitted exceptions set forth in Paragraph 5 and other exceptions, if any, as to which the title insurer commits to extend insurance in the
147. manner specified in Paragraph 13. Seller shall also furnish to Buyer a properly executed ALTA Statement.
148. 22. SELLER'S REPRESENTATION. Seller represents: (A) that he has received no notice of any ordinance or building code violation from any
149. governmental body in connection with the premises that has not been cured prior to the date of acceptance thereof. If any such notice shall be received
,so. prior to closing, Seller shall give Buyer notice thereof, and if not cured by Seller prior to closing, Buyer may elect to rescind the Contract; (B) that all
151. equipment, systems and appliances to be conveyed, including but not limited to the following, are in operating condition on the date of closing; all
152. mechanical equipment, heating and cooling equipment, water heaters and softeners, septic and plumbing systems, electrical systems, kitchen equipment
153. remaining with the premises, and any miscellaneous mechanical personal property to be transferred to Buyer. However, nothing contained herein shall be
154. construed as a warranty that the items mentioned will remain in operating condition beyond closing.
155. 23. RISK OF LOSS. In the event that, prior to closing, the premises shall be destroyed or materially damaged by fire or other casualty, or in the event
156. any portion of the premises shall be taken by governmental action through condemnation, then, at the option of Buyer, the Contract may be declared null
157. and void, and earnest money returned to Buyer.
158. 24. FLOOD HAZARD INSURANCE. Buyer will obtain flood hazard insurance if required by his lender.
159. 25. RESPA STATEMENT. If Buyer's lender requires a Real Estate Settlement Procedures Act Statement, Buyer and Seller shall execute such statement
t6o. at closing.
161. 26. LANGUAGE. If there is more than one Buyer, Seller, or entity other than a natural person, the pronouns and grammatical structure shall be
162. understood to conform.
163. 27. The original of the Contract shall be held by the Escrowee named in Paragraph 2 in trust for the benefit of the parties hereto.
164. 28. LEGAL ADVICE. If you do not understand the contents of this document, please consult with an attorney.
LAF
AMERICA
TITLE
COMPANY
TITLE INSURANCE ESCROW SERVICE
/ MID
AMERICA
SURVEY
COMPANY
LAND SURVEYS FLOOD CERTIFICATIONS
Arlington Heights 1216 E. Central Rd. 847 - 577 -1500 / Chicago 33 N. Dearborn St. 312 - 853 -1191
Chicago- Jefferson Park 4708 N. Milwaukee Ave. 773 - 794 -1888 / Crystal Lake 149 N. Virginia St. 815 - 455 -2500
Homewood 900 Ridge Rd. 708 - 957 -7888 / Libertyville 1641 N. Milwaukee Ave. 847 - 367 -4400 / Palos Hills 9800 W. Roberts Rd. 708 - 598 -6500
Waukegan 222 N. County St. 847 - 249 -1200 / Wheaton 373 S. County Farm Rd. 630 - 690 -9500
SURVEY OFFICES: Arlington Heights 1216 East Central Rd. 847 - 392 -7600 / Palos Hills 9800 S. Roberts Rd. 708 - 430 -4077
Waukegan 218 N. County St. 847 - 336 -2473 / Wheaton 460 S. County Farm Rd. 630 - 690 -3733
http: / /www.matc.com - E -mail address; sales @matc.com
For a price quote please call 1- 800 - 248 -0499
RIDER NO. 1
This Rider is attached to the Contract to Purchase Real Estate between Village of
Deerfield (hereinafter referred to as "Purchaser') and Deerfield Temple Association
(hereinafter referred to as "Seller'), and is made a part of the Contract dated August 26,
1998.
1. If there is any conflict between the terms of this Rider and the terms of the
Contract to Purchase Real Estate, the terms of this Rider shall control.
2. Seller agrees that all existing leases and tenancies, licenses or other
agreements to occupy the property at 711 Waukegan Road, Deerfield,
Illinois (hereinafter referred to as "Subject Property ") will be terminated by
date of closing, and possessions of the entire Subject Property will be turned
over to the Purchaser at time of closing.
3. Seller agrees to provide to Purchaser at time of closing copies of any and all
surveys in its possession for the Subject Property,
4. Seller warrants, to the best of Sellers knowledge, that the Subject Property
is in a clean, safe and healthful condition and is free of all potentially harmful
or hazardous material as defined herein. Seller has not and to the best of
Seller's knowledge, no other person has ever caused or permitted any
hazardous material to be released, placed, held, stored, located or disposed
on or under the Subject Property. Furthermore, to the best of Seller's
knowledge, the Subject Property has not been used as a sanitary landfill,
dumpsite, industrial disposal area or a treatment or storage site for
hazardous or toxic materials either on a temporary or permanent basis.
Seller knows of no underground storage tanks for oil, gasoline or any other
petroleum products. "Hazardous material" means and includes any
hazardous, toxic or dangerous waste, substance or material as defined in
the so- called "C.E.R.C.L.A. or Superfund" law, or any other substance that
is subject to any federal, state or local statute, regulations or ordinance
relating to or imposing liability concerning any such hazardous, toxic or
dangerous waste or substance. This warranty shall survive the closing.
5. Seller agrees to execute the required environmental disclosure document for
transfer or real property, as required under 735 ILCS 90/, et al.
6. Seller agrees to allow Purchaser to conduct any inspections, including
environmental inspections, which it desires to conduct upon reasonable
notice to Seller and agreement with Seller as to the exact date and time.
-1-
7. Purchaser agrees to take title subject to the 1998 real estate taxes and there
shall be no proration at closing for such taxes. Seller agrees that the 1997
real estate taxes and all real estate taxes for any prior years shall be paid in
full at or prior to closing. The Purchaser agrees to pay all charges of
Chicago Title Insurance Company.
8. Notices herein shall be in writing and may be served via facsimile on the
parties as follows:
Seller: Deerfield Temple Association
c /o,James J. Reagan
1939 Waukegan Rd., Suite 106
Glenview, IL 60025
Purchaser: Village of Deerfield
c/o Joseph T. Morrison
MORRISON & MORRISON, P.C.
32 N. West Street
Waukegan, IL 60085
� y
Vkage of Deerfield D rf' IdTem le sso iation J
9 -8 -98 <� -- l `<--7
Date Date
-2-
LAKE COUN'T'Y ASSOCIATION OF REALTORSO
C CONTRACT TO PURCHASE REAL ESTATE 8/26/26
REALIOM !,: e: �W" This document will become a legally binding Contract when signed by all parties and delivery is effected. Date Written
1. 1. PARTIES. Buyer(s), _yj,h],agg_g Dee {ig_�d agree to purchase, and
2. Seller's), Deerfield Temple Association, an lllinois n'on -for- profit corporation agreetoselito Buyer atthe
3. PURCHASE PRICE of $ 375 000.00
4. the property commonly known and/or legally described as: 711 Waukegan Rd., Deerfield, IL 60015
with approximate lot dimensions of Irregular, Approx. L�) , 3 LL Sq . Ft. , together with all improvements and fixtures, it any,
located on the premises as of the date of the Contract, including: screens, storm windows and doors; shades and blinds; drapery rods; curtain rods; attached TV
antenna; attached mirrors, shelving, shutters, cabinets and bookcases; planted vegetation; attached fireplace screens and doors, attached gas grills; wall to wall carpel;
water softener; _, garage door opener(s) and transmitter(s); all smoke detectors; ceiling (ants); and central vacuum equipment;
to.
11.
12. All of the foregoing items shall be left on the premises, included in the sale price and conveyed to Buyer at the time of closing. Any items of personal property will be
13. conveyed to Buyer at the time of closing by a warrantable Bill of Sale.
1s. Earnest money, to be increased to a Iota/ o e o ce lance, shall be held in escrow
11. As required by Illinois Statute, a eived shall be deposited Into an escrow u�siness alter the dat e of acceptance of
te. the Contract.
19. 3. ACCEPTANCE. Acceptance of ny ounter- otler(s) shall be completed w en Cor Counter•offer(s) are delivered to
party's Designated Agent. Initial earnest money shall be returned and the Contract to Purch cce led on or before
22. 4. METHOD OF PAYMENT. The purchase price Is to be paid at the closing by cash 0 bashier's check, after application of the earnest money thereto, application of
23. the amount of the existing mortgage or other lien indebtedness, and/or application of the amount of the purchase money note and mortgage or articles of agreement for
24 warranty deed, if applicable. (Cross out inapplicable subparagraphs.)
is. a Convention (Type) Mortgage Loan of $ or such less at elects to
21. take. The interest rate (initial rate, I I not exceed % per annum, amortized over not I years. Buyer shall pay loan
1e, origination tee and/or discount points not to exceed an amount. can origination foe and /or discount points not to erceerf
29. °6 of the loan amount. Those lees /points corn rnitte,d to fer to Paragraph 12 for additional conditions.
lo. B. Other Financing. The Co upon Buyer obtaining the typo of financing designated below an ribod in the appropriate financing
n. Rider site corporated herein. ( ) Articles of Agreement for Deed (LCAR 401) ( ) Purchase CAR 402)
33, 5. DEED. Seller shall convey or cause to be conveyed to Buyer or his nominee, by a recordable, stamped, general warranty deed (or other appropriate deed if title to
34. the properly is in trust or an estate) with release of homestead rights, good and merchantable title to the premises subject only to the following permitted exceptions, if
35. any, and lunher provided that the exceptions do not interfere with Buyer's use of the property for the same use in effect at the date of the Contract: (A) general real
36, estate taxes for 19s$_ and subsequent years; (8) building, building lines and use or occupancy restrictions, covenahts and conditions of record; (C) zoning laws and
31. ordinances: (D) visible private and public roads and highways and easements therefore; (E) easements for public utilities which do not underlie the improvements upon
3e, the property; (F) drainage ditches, feeders, laterals and drain tile, pipe and other conduit; ; (H) acts of Grantees; (I) - association daes
l
4o. 6. ILLINOIS RESIDENTIAL REAL PROPERTY DISCLOSURE REPORT. Buyer acknowledges receipt of a completed Seller Disclosure Form, pursuant to the Illinois
41 Residential Real Property Disclosure Act, prior to Buyer's signing of this agreement unless this transaction is excepted from such Act.
42. 7. CLOSING. The date of closing shall be Sep t embe r 15, 1998, or before it mutually agreed, unless extended by the provisions o1 Paragraph 13. The
47 sale shall be closed at at the office of Chicalto Title Insurance�32 N. West SC.
44.8. POSSESSION. Waukegan, IL
45. A. Seller agrees to vacate and surrender possession on September 15 ,. 1998 provided the sale has been closed. Until possession is
46. tendered, Seller shall pay for all fuel, water, and other utilities consumed in or about the property,
41. B. If possession is not dellvered at or prior to closing, the sum of $ 10,000.00 will be withheld at closing from Seller's proceeds of this sale and
as shall be held in escrow by the same party named in the Contract to hold thegaest Toney.
49, C. From Seller's proceeds at closing, Buyer shall receive the sum of $ U OU for each day beginning with the day after closing and Including
50, the day specilied to 8 A above.
52. $ -. -_ the escrow for each day that possession is not so surrendered beginnin wi specified In 8A above.
53. and including the day that Seller tenders possesslo has v' r o tender of possession, possession shall be deemed
54 tendered when Seller delivers keys for the premis o remains aid to Seller. This possession shall not in any way
5s. limit Buyer's othP a er's lailure to timely deliver possession as provided in 8A. This escrow is ein sot se of payment of
s1. 9. SPECIAL ASSESSMENTS. Seller agrees to pay prior to or at closing: (A) special assessments confirmed pilot to closing for improvements not yet complelod;
59. (B) installments not due at the date thereof for any special assessment for improvements heretofore completed.
rd, location of the improvemen s ter I im rovemen s; ut ing lines; easements, driveways.
61 roads or highways. Any encr a eeme to a tin is aware of such encroachment and
61 11, RIDERS. In the event of any inconsistency between the provisions of the Contract and the Rider(s), the Rider(s) shall prevail. The Contract is made subject to the
64 conditions set forth on the back page hereof, and Riders attached hereto:
COUNTER -OFFER FORM ATTACHED Yes U No U I Date of Acceptance: Time:
uyer'(sgnature) Mayor, Vi age OT Deerfield - e gn r !S
t ��•
ffuyer' (slgn.iIure)-- VI3lage- �Ne erfTeIa - er nature) - cl/ -
f3rTn( Aame 611K;jer (s`) - - - - -" - -` -- Print Name of e er s
Taress
City IL 60015
Itli y _ -- tai` to - • . _
847/945 -02:14
- -. -
9-6J s A erne - Nomrls9A --
32 N. West St., Waukegan, 1L_60085
--
847/244 -2660 847/244 -6817
1plone -- - -- -- - - - - - -- --- - --
ress - '- - - - -u
City fate rp
Phone Fax
Seller's Attorney
ATJress
Selling Office ID # Lisfing Office ID 0
uB yerrs eslgnate gent -- - -'- ID If Seller's -- Designated gent
Address
o�f-ne -..- - - - -- I �--- - -- -
65 12. BUYER'S MORTGAGE COMMITMENT, 1
66. A. I. Buyer shall, within seven (7) days of acceptance of the Contract, make written'applicatlon for such loan with a lending institution haAg bkla% thg
e7, terms as set forth in Paragraph 4A.
6e, II. In the event such terms are not available, Buyer shall notify Seller in writing within seven (7) days o. acceptance of the Contract and the Contract
es. shall become null and vold and earnest money returned to Buyer In accordance with Paragraph 1- of the Cbnlrncl. Absence of written nolire shall signify
10. Buyer's election to accept the available Interest rate and /or fees /points.
71 Ill. In the event said terms are available and Buyer elects to lock in, Buyer shall do so with a lock provision consistent with the Contract closing date.
Q. IV. In the event Buyer elects not to lock in. Buyer agrees to Pay any increase in interest rate and /or fees/ points that may occur.
73. V. Failure to make application within the time specilled above (not withstanding provision 11) shall constitute an eat of ifA(aA uhdir the
74. Contract.
75. Vl. If Buyer falls to close In accordance with the Contract or any amendment liberate, due to Increa§ed interest rate and/or feeslpolnts, such
76, failure shall constitute an act of default under the Contract.
77. VII. Buyer shall pay the cost of application, usual and customary processing fees and closing costs charged by lender. In addition, Buyer shall make
78, monthly deposits and payments for taxes, property insurance and private mortgage Insurance as may be required by lender as a condition of the mortgage
7s. loan.
Do VIII. If, after making written application for such loan, Buyer falls to obtain such, commitment, Buyer shall notify Seller in writing within the time specified in
al. Paragraph 4A. If said notice Is not given, Buyer shall for all purposes be deemed to have waived'this contingency.
a2 B. If Paragraph 4A or 48 is applicable, upon receipt of notice of Buyer's Inability to oblaln mortgage financing, Seller may, at Seller's option, within forty -five
e3 (45) days of such notice, secure a written commilment from a lending institution or Seller for a loan to Buyer with the some terms. In such event, buyer
6: agrees to promptly funish all data necessary, to the extent permitted by law, for loan approval, pay Buyer's charges set forth in Paragraph 4A or the apple.
as pnalc financing Rider referenced in Paragraph 4B and sign customary papers relating to the application and securing of mortgage commitments; and Seller
e,6 shall pay all other required fees including the application too. If Buyer notifies Seiler as,above provided, Seller shall notify Buyer within three (3) days allot
a7 the date of delivery of Buyer's notice to Seller of Seller's election to attempt to obtain financing lot Buyer. II Seller fails to notify Buyer, then the Contract
ea shall be null and void and earnest money returned to Buyer. II Seller elects to obtain such financing lot Buyer, and Seller is successful in obtaining such
as, written commitment for financing Seller shall notify Buyer of the written commitment for such financing within; the time specified In this paragraph. If Seller
so. fails to notify Buyer within such additional time'period, Ihen the Contract shall be null and void and all earnest money returned to Buyer..
el C.Should Buyer receive a mortgage commitment conditioned upon the sale and/or closing of Buyers existing property, said commitment shall
9z. satisfy the terms of the mortgage contingency provision contained In the Contract and /or Riders.
93. 13. TITLE INSURANCE. At leas) live (5) days prior to closing date. Seller, at Seller's expense, shall show to Buyer or his agent, evidence of
94 rmerchantabIa tilt. by delivering a commitment for lisle insurance from a title insurance comppany licensed to do business in the State of Illinois, satisfactory
95 to Buyer and lender, bearing date of, or subsequent to, the date e,1 acceptance hereof in tlhe amount of the purchase price subject only to items listed in
96. Paragraph 5 hereof, and standard conditions and exceptions listed in said commilment for title. If the Contract is contingent upon Buyer securing
97. mortgage financing as set forth in Paragraph 4 hereof, until advised to the contrary, Seller is entitled to-assume that mortgagee will order the commitment
ss, for title insurance required herein, and any delay In the delivery thereof shall not be a default of Seller. Every commitment for title insurance furnished by
m Sellei or Buyer's mortgagee hereunder, shall be conclusive evidence of good title as herein shown, subject only to the exceptions therein stated. If
,00 evidence of title discloses other defects, Seller shall have thirty (30) additional days to cure such defects and nosily Buyer, but Buyer may lake title with
sou. other detects, (with the right to deduct from (lie purchase price any lions or encumbrances for a definite or ascertainable amount) by notifying Seller and
102 tendering performance. Existing mortgage and other lien indebtedness may be paid at closing out of sale proceeds, unless Buyer takes title subject
103. thereto.
la. 14. FINAL INSPECTION(S). Inspection(s) of the premises shall be made, It requested by Buyer, within live (5) days prior to possession and /or closing
105. date(s).
lob 15. HOME INSPECTION CONTINGENCY. Within five (5) calendar days after the date of acceptance, Buyer may secure, at Buyer's expense. a home
to7 inspector to inspect the premises. In file event said inspection reveals a material defect in the structure of the property or systems, i.e. plumbing, heating,
108 cooling, ventilation or electrical, which is unacceptable to Buyer, Buyer shall give written notice to Seller within the time specified above slating the nature of
we, such defect and provide a copy of the inspection report. Within three (3) days from receipt of such notice, Seller shall notify Buyer in writing of his election of
1l0 one or more of the following options: (A) to correct such defect prior to closing; (B) to enter into an agreement with Buyer as to the apportionment of the cost
nl necessary to correct such defect. In the event Buyer and Seller cannot reach an agreement within three (3) days of Buyer's receipt of Seller's notice, either
nz. Seller or Buyer, in writing, may elect to declare the Contract null and void, and all earnest money shall be returned in accordance with Paragraph 19; (C) to
u3 declare the Contract null and void, and earnest money returned in accordance with Paragraph 19. In absence of written notice by Seller within the time
114, specified herein, Buyer may declare the Contract null and void. Failure of Buyer to notify eller in writing of such defect and to provide a copy of the inspec-
iis, lion report within the time specified above shall be deemed a waiver of any rights which Buyer may have under the terms of this contingency and the
116. Contract shall be in full force and effect.
117 16. ATTORNEY'S APPROVAL CONTINGENCY. Within three (3) business days after the date of acceptance, the respective attorney's of the parties may
lie. approve and /or make modifications, other than price and dates, to the Contract. In the absence of written notice within the time specified above, this
its. contingency shall be deemed waived by all parties and the Contract shall be In full force and effect. It written notice is given and all parties cannot agree,
120. the Contract shall become null and void and earnest money returned in accordance with Paragraph 19.
121 17. CLEAN CONDITION. Seller shall provide sufficient maintenance of the property, Including landscaping, so that, upon lender of possession the
122. property shall be in the same condition as at the date of signing of the Contract by Buyer, less ordinary wear and tear. Seller agrees to leave the.premises
123. in broom clean condition, all refuse and personal property not to be conveyed to Buyer shall be removed from the premises at Seller's expense before the
1z4, dale of possession.
125 18. PROBATIONS. Fuel on hand, water and other utility charges shall be prorated to date of possession. Real estate taxes, premiums upon assignable
126 insurance policies (other than homeowner's insurance policies) if requested by Buyer, rents and other proralable items shall be prorated to the dale of
121 closing. The proration of real estate taxes shall be computed on the basis of 105% of the most recent ascertainable taxes. All proraliorls shall be final,
128 except that if the property herein is improved, but the last available tax is on a vacant basis, the parties hereto agree to'reprorate when the bill on the
129 improved property is available. Seller shall pay the amount of any slannP tax imposed upon the transfer to title by stale statute and.county ordinance and
130. Buyer shall pay any similar taxes imposed by local ordinance, unless the local ordinance imposes the tax on Seller. Security deposits evidenced by a
131. written instrument, and interest thereon, it required by statute or ordinance, shall be transferred to Buyer in the form of a credit against thepurchase price at
132 closing.
131 19. PERFORMANCE. Time Is of the essence of the Contract. In the event of default by Seller or Buyer, the parties ate free to pursue legal remedies at
134 law. There shall be no disbursement of earnest money unless Escrowee has been provided written agreement [hereto from Seller and Buyer. Absent an
35 agreement relative to the disbursement of earnest money within a reasonable period of time. Escrowee may file an action in the nature of Interpleader in the
36 Circuit Court of the county in which the Escrowee's office is located, to resolve the Issue. Escrowee shall be reimbursed from the earnest money for all
137. costs, including reasonable attorney's fees, related to the filing of the Interpleader action. Seller and Buyer shall indemnify and hold Escrowee harmless
138, from any and all claims and demands.
13e 20. NOTICES. All notices required or otherwise given hereunder shall be In writing. Unless other notice provisions have been agreed to in writing, notice
140 may be served to Buyer, Seiler, their Designated Agent or their Attorney, either personally or by facsimile. Personal delivery or facsimile transmission shall
1e1 be sufficient It made to the address or facsimile number on the front of the Contract, or such address or facsimile number as may be provided. It
142 transmitted by facsimile, any such notice shall be deemed effective on the data of such transmission. Notice to any one of a multiple person party shat be
143 sufficient notice to ell. The failure of any party to provide their own or their agent's address or facsimile number shall be deemed a waiver of the
144, right to receive notice.
45 21. AFFIDAVIT OF TITLE AND ALTA STATEMENT. Seller shall furnish Buyer At closing with an Aftdavit of Title, covering the dale of clot "ling, BLbjoct
146 only to those permitted exceptions set forth in Paragraph 5 and other exceptions, If any, as to which the 11119 Insurer commits to extend Insurance in the
147. manner specified In Paragraph 13. Seller shall also furnish to Buyer a properly executed ALTA Statement.
148 22. SELLER'S REPRESENTATION. Seller represents: (A) that he has received no notice of any ordinance or building code violation from any
146. governmental body in connection with the premises that has not been cured prior to ttie date of acceptance thereof. If any such notice shall be received
50 prior to closing, Seller shall give Buyer notice thereof, and if not cured by Seller prior ib closing, Buyer may elect to rescind the Contract; (B) that all
151 equipment, systems and appliances to be conveyed, Including but not limited to the following, are in operating condition on the date of closing; all
152. mechanical equipment, heating and cooling equipment, water heaters and softeners, septic. and plumbing systems, electrical systems, kitchen, equipment
51 remaining with the premises, and any miscellaneous mechanical personal pr,Terty to be transferred to Buyer. However, nothing contained hereln shall be
154 construed as a warranty that the items mentioned will remain In operating condition beyond closingg.
155. 23. RISK OF LOSS. In the event that, prior to closing, the premises shall be destroyed or.materially damaged by fire.or other casualty, or In the event
156. any portion of the premises shall be taken by governmental action through condemnation, then, at the option of Buyer, the Contract may be declared null
57. and void, and earnest money returned to Buyer.
1% 24. FLOOD HAZARD INSURANCE. Buyer will obtain flood hazard Insurance It required by his lender.
159. 25. RESPA STATEMENT. If Buyer's lender requires a Real Estate Settlement Procedures Act Statement, Buyer and Seller shall execute such statement
160, at closin
161. 26. LARGUAGE. If there is more than one Buyer. Seller, or entity other than a natural person, the pronouns and grammatical structure shaft be
162, understood to conform.
183. 27. The original of the Contract shall be held by the Escrowee named in Paragraph 2 In trust for the benefit of the parties hereto.
164. 28. LEGAL ADVICE. If you do not understand the contents of this document, please consult with an attorney.
/ M M I D
14 AMERICA
ba TITLE
COMPANY
Lui J IZVIEY N Y
TITLE INSURANCE ESCROW SERVICE LAND SURVEYS FLOOD CERTIFICATIONS
Arlington Heights 1216 E. Central Rd. 847 - 577.1500 / Chicago 33 N. Dearborn St. 312. 853.1191
Chicago- Jefferson Park 4708 N. Milwaukee Ave. 773 - 794 -1888 / Crystal Lake 149 N. Virginia St. 815 -455 -2500
Homewood 900 Ridge Rd. 708- 957 -7888 / Libertyville 1641 N. Milwaukee Ave. 847- 367 -4400 / Palos Hills 9800 W. Roberts Rd. 708. 598.6500
Waukegan 222 N. County St. 847- 249 -1200 / Wheaton 373 S. County Farm Rd. 630 - 690 -9500
SURVEY OFFICES: Arlington Heights 1216 East Central Rd. 847. 392.7600 / Palos Hills 9800 S. Roberts Rd. 708.430.4077
Waukegan 218 N. County St. 847- 336 -2473 / Wheaton 460 S. County Farm Rd. 630. 690.3733
http:llwww.matc.com - E -mail address; sales@n matc.com
For n rri- r, -.n ^ -,n + nnn. 1.1 P n•nn
P. PHONE H;-'. • 9-477'44661- Hl,q. -- -'!_' 1 _ _._H' I P--
LEGAL DESCRIP'T'ION
ALL THAT PART OF LOT 8 IN OWNER'S FIRST ADDITION IN DEERFIELD, BEING A
SUBDIVISION OF PART OF THE NORTH' /2 OF SECTION 33, TOWNSHIP 43 NORTH.
RANGE 12, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING ..('O THE PLAT
THEREOF RECORDED SEPTEMBER 25, 1915 AS DOCUMENT 161061, IN LOOK "T'
OF PLATS, PAGES 46 AND 47, DESCRIBED AS FOLLOWS: BEGINNING AT A POINT
IN THE CENTER OF LINCOLN AVENUE, SAID POINT BEING NORTH 31 DEGREES 10
MINUTES WEST 50 FEET FROM THE JUNCTION OF SAID CENTER LINE OF LINCOLN
AVENUE WITH THE SOUTH LINE OF THE AFORESAID LOT 8 EXTENDED: THENCE
NORTH 63 DEGREES 48 MINUTES EAST 326.67 FEET TO THE EAST LINE OF SAID
LOT 8; THENCE NORTH 3 DEGREES WEST ON THE EAST LINE OF SAID LOT 8. 70
FEET; THENCE SOUTH 69 DEGREES 24 MINUTES WEST 364.67 FEET TO THE
CENTER LINE OF SAID LINCOLN AVENUE; THENCE SOUTH 31 DEGREES 10
MINUTES EAST 100 FEET TO THE POINT OF BEGINNING, IN LAKE COUNTY;
ILLINOIS.
Exhibit 1
r •' II'i f'11 I�:h' (' =1 IF I _. I'![I '' ' 1 `_ _•I L r . _ , i'HCil 4 h _,
RIDER NO. 1
This Rider is attached to the Contract to Purchase Real Estate between Village of
Deerfield (hereinafter referred to as "Purchaser") and Deerfield Temple Association
(hereinafter referred to as "Seiler"), and is made a part of the Contract dated August 25,
1998.
If there is any conflict between the terms of this Rider and the terms of the
Contract to Purchase Real Estate, the terms of this Rider shall control,
2. Seller agrees that all existing leases and tenancies, licenses or other
agreements to occupy the property at 711 Waukegan Road, Deerfield,
Illinois (hereinafter referred to as "Subject Property ") will be terminated by
date of closing, and possessions of the entire Subject Property will be turned
over to the Purchaser at time of closing.
3. Seller agrees to provide to Purchaser at time of closing copies of any and all
surveys in its possession for the Subject Property.
4. Seller warrants, to the best of Seller's knowledge, that the Subject Property
is in a clean, safe and healthful condition and is free of all potentially harmful
or hazardous material as defined herein. Seller has not and to the best of
Seller's knowledge, no other person has ever caused or permitted any
hazardous material to be released, placed, held, stored, located or disposed
on or under the Subject Property. Furthermore, to the best of Seller's
knowledge, the Subject Property has not been used as a sanitary landfill,
dumpsite, industrial disposal area or a treatment or storage site for
hazardous or toxic materiels either on a temporary or permanent basis.
Seller knows of no underground storage tanks for oil, gasoline or any other
petroleum products. "Hazardous material" means and includes any
hazardous, toxic or dangerous waste, substance or material as defined in
the so- called "C.E.R.C.L.A. or Superfund" law, or any other substance that
is subject to any federal, state or local statute, regulations or ordinance
relating to or imposing liability concerning any such hazardous, toxic or
dangerous waste or substance. This warranty shall survive the closing.
5. Seller agrees to execute the required environmental disclosure document for
transfer or real property, as required under 735 ILCS 90 /, et al.
6. Seller agrees to allow Purchaser to conduct any inspections, including
environmental inspections, which it desires to conduct ;upon reasonable
notice to Seller and agreement with Seller as to the.exact date and time.
F�'i:(1 Pli IR:FiItii if I HC iRPIEO1`1, P. C, PHONE ;`d[I. 14724 -b817
7. Purchase; agrees to take title subject to the 1998 rea! estate taxes and there
shall be no proration at closing for such taxes. Selier agrees that the '1997
real estate taxes and all real estate taxes for any prior years shall be paid in
full at or prior to closing. The Purchaser agrees to pay all charges of
Chicago Title Insurance Company.
8. Notices herein shall be in writing and may be served via facsimile on the
parties as follows:
Sailer: Deerfield Temple Association
c/o James J. Reagan
1939 Waukegan Rd., Suite 106
Glenview, IL 60025
Purchaser: Village of Deerfield
c/o Joseph T. Morrison
MORRISON & MORRISON, P,C.
32 N. West Street
Waukegan, IL 60085
Village of Deerfield
Date
-2-
De (eld I Aso do
Date