CR 97-108 Sale Of City Parcel - 130 19th Ave S
May 29, 1997
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council Report: 97-108
SALE OF CITY OWNED PARCEL AT
130 - 19TH AVE SOUTH
ProDosed Action.
Staff recommends adoption of the following motion: "Move that
Council adopt Resolution No. 97-63 resolution enterina into a
Durchase aareement with Isaac E.N. Casimir for the sale of a citv
owned Darcel at 130 - 19th Avenue South."
Overview.
In september of 1996 the city purchased the parcel at 130 19th
Avenue South in order to facilitate the construction of a cul-de-
sac at the south end of 19th Avenue South. The cul-de-sac is to
be constructed as part of the County Road 3 reconstruction
scheduled for late 1997 and 1998. The existing house that was on
the parcel was used for Fire department training and after a
controlled burn the site was cleaned of all debris by Public
Works crews. In May of 1997 city staff solicited sealed bids for
the sale of the parcel in order for the parcel to be developed.
six bids were received. The highest bid received was from Isaac
E. N. Casimer for $31,360.00. The sale of the property must be
approved by a four/fifths vote of the city Council.
primarv Issues to Consider
o Is the amount of the bid a fair price?
The bid from Isaac E. N. Casimer for $31,360 is a fair price
for the parcel. In April of 1997 the assessed value for the
parcel was $27,500. The bid amount is $3,860 more than the
assessed value.
SuDDortina Information
o Alternatives
o Bid tabulation form
o Purchase agreement
o Hennepin County Real Estate Valuation notice
o proposed Resolution 97-63
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Norbert Kerber, Bu~lding/Equipment services superintendent
council Report: 97-108
Page 2
Alternatives
The City Council has the following alternatives regarding this
item:
1. Reject all bids and rebid.
staff feels that if we were to rebid the parcel the results
of the bids would be lower.
2. Reject all bids and list with broker.
If the Council decided to reject all bids and list the
property with a broker, the city would need to sell the
property at 7% more than the current highest bid in order to
have the same net return. The 7% would be the brokers fee
for listing the property if we negotiated a 7% fee. City
staff feels that listing with a broker will delay
development of this property and also produce a lower net
return to the city.
3. Approve Resolution No. 97-63 and enter into a Purchase
Agreement with Isaac E. N. Casimir.
Entering into a purchase agreement will allow the city to
receive a fair price for this property.
Recommendation
staff recommends Alternative No.3.
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'F.9RM lS19A (Rev. 8/93)
PURCHASE AGREEMENT
This fonn approved by the Minnesota Association of
Realtors, which disclaims any liability arising out cruse
or misuse ofthis form.
Date o5-2(,-QI
Page 1 00 Pages
RECEIVED OF.... . A 8. V AN ~J..I rJ f.. C fi.s} I'll (whether one or more the "Buyer"),
the sum of FI F f:~ tJ HlI 10.0 R~ 1) SIXI\!flCJ!tnd no/lOOths Dollars ($ 5 .00 ,being five percent
(5%) oftlIe purchase price stated below, by casllier's or certified check as earnest money payable ta the City of Hopkins,
Minnesota ("Seller") but to be returned to Duyer ifPurcbase Agreement is not accepted by Seller. Said eamest money
is part payment for the purchase of the real property located in the City of Hopkins. County of Hennepin, State of Minnesota,
Legally described as:
As legally described in Exhibit A attached hereto and incorporated herein by reference,
which property. together with all easements and rights benefiting or ap uncnsnt thereto, Seller has agreed to sell 'to'Duyer
for sum of '1Hlt<1 OJl!2.. 'THOU5 tV I L SIXTY and no/IOOths Dollars.
($31 "3bo. 00 , which Buyer agrees to pay in the following manner: Earnest moneyof$ (50!?" 00 and
$ :2. 2 .' 00 cash on the dale of closing which shall be the first business day wbich is sixty (60) days after the
date of eller's execution of this Purchase Agreement. '
CLOSING. The closing of the transaction described in this Purchase Agreement shall be at the offices of Seller's attorneys,
Vesely, Miller & Steiner, P.A.
DEEDIMARKETABLE TITLE: Upon performance by Guyer, Seller shall deliver a Warranty Deed conveying marketable
title, subject to:
(A) Building and zoning laws, ordinance, state and federal regulations; (B) Reservation of any mineral rights by the State
of Minnesota; (C) Utility and drainage easements which do not interfere with Buyers' intended improvement of the Property;
(0) Pennanent easement for construction and maintenance offence and temporal)' construction easement over that part of
the Property described in Exhibit B attached. hereto.
SPECIAL ASSESSMENTS shall be paid as follows:
SELLER SHALL PAY ON DATE OF CLOSING all iastallments of special asseSsments certified for payment with the
real estate taxes due and payable in the year of closing.
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SELLER SHALL PAY on date of closing all other special assessments Jevied as ofthe date of closing.
SELLER SHALL PROVIDE FOR PAYMENT OF special assessments pending as of the date of this Agreement for'
improvements that have been ordered by the City Council or other assessing authorities. (Seller's provision for payment shall
be by payment into escrow of one and one-half(l 1/2) times the estimated amount of the assessments.)
SELLER SHALL PAY on date of closing any deferred real estate taxes (i.e. Green Acres, etc.) or special assessments'
payment of which is required as a result of the closing of this sale. Buyer shall pay real estate taxes due and payable in the
year following closing and thereafter and any unpaid special assessments payable therewith and thereafter, the payment of
which is not otherwise provided.
I f a notice of pending special assessment for a new public improvement project is issued after the date of this Agreement and
on or before the date of closing, Duyer shall assume payment of NONE of any slIch special assessments, and Seller shall
provide for payment on date of closing ALL of any such special assessments. If such special assessments or escrow amounts
for said special a~sessments as required by Buyer's lender shall exceed $2,000.00, this Purchase Agreement shall be null and.
void at Seller's option; parties agree to sign cancellation of Purchase Agreement and all earnest money paid hereunder shall
be refunded to Buyer, unless one or both of the parties agrees in writing on Qr before the date of closing, to assume, payor
provide for the payment of such excess.
TITLE & EXAMINATION: Seller shall, within a reasonable time after acceptance of this Agreement, furnish an Abstract
of Title, or a Registered Property Abstract, certified to date to include proper searches covering bankruptcies. state and federal
judgment and liens, and levied and pending special assessments. Buyer shall be allowed fifteen (15) business days after
receipt of Abstract examination oftitfe and making any objections whicfl shall be made in writing or deemed waived. (fany
objection is so made, Seller shall proceed with due diligence to make title marketable within 120 days from Seller's receipt
of such wriuen objection and payments hereunder required shall be postponed pending correction of title, but upon correction
of title and within ten (I 0) days after written notice to Buyer the parties shall perform this Purchase Agreement according
to its terms. If title is not corrected within the time provided for, this Purchase Agreement shall be null and void, at option
of Buyer; neither party shall be liable for damages hereunder to the other and earnest money shall be refunded to Buyer;
Buyer and Seller agrees to sign cancellation of Purchase Agreement. BUYER AGREES TO ACCEPT AN OWNER'S
TITLE POLICY IN TilE FULL AMOUNT OF TIlE PURCHASE PRICE IN LIEU OF AN ABSTRACT OF TITLE
IFTHE PROPERTY IS SUBJECT TO A MASTER ABSTRACT OR IFNO ABSTRACT OF TITLE IS IN SELLER'S'
POSSESSION OR CONTROL. If Buyer is to receive s\lch policy (I) the title examination period shall comioence.upon .
Buyer's receipt of a current Title Insurance Commitment and (2) Seller shall pay all costs of providing the Title Insurance,
,Commitment and BuyershaJl pay the entire premium for such policy ifno lender's policy is obtained, and only the'additional "
cost of obtaining a simultaneously-issued owner's policy if a lender's policy is obtained (Buyer shall pay the premium for'
the lende~s policy and the closing fee charged by the title insurer). .
Sellerand Buyer Initial: Seller(s)
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PURCIlASE AGREEMENT
Page 2, 00
SUBDIVISION OF LAND: Jfthis sale constitutes or requires a subdivision of land owned by Seller. Seller shall pay all
subdivision expenses and obtain all necessary governmental approvals. Seller warrants the legal description of the real
property to be conveyed has been or will be approved for recording as of the date of closing.
AS~IS SALE. Buyer acknowledges Seller makes no warranty or representation as to soil. geotechnical or environmental
conditions or the suitability of the subject property for improvement or construction intended by Buyer. Buyer acknowledges
and agrees Buyer is purchasing the property "as is"-solely in reliance on Buyer's own investigation.
SEALED WELL. Seller hereby discloses to Buyer there is a sealed well on the subject property in the approximat'e location
shown on Exhibit B attached hereto and incorporated herein by reference.
TIME OF ESSENCE: Time is of the essence in this Purchase Agreement.
I:' ',' '~' ENTffiE AGREEMENT: This Purchase Agreement, any attached exhibits and any addenda or amendments signed by the
. , parties, shall constitute the entire agreement between Seller and Buyer, and supersedes any other written or oral agreements
.', between Seller and Buyer. This Purchase Agreement can be modified only in writing signed by Seller and Buyer.
" \ ACCEPTANCE: Buyer understands and agrees that this Purchase Agreement is subject to acceptance by Seller in writing.
Buyer further understands and agrees that Seller's acceptance shall occur only upon final approval of this Purchase Agreement
I b'ya fonr-fifths (4/5tl1s) vote by the Hopkins City Council, aoo that Seller reserves the right to reject Buyer's offer to purchase
.' , ,as stated in this Purchase Agreement. Buyer agrees Buyer's offer to purchase the subject property as stated in this Purcl13se
- <.~' Agreement shall not be withdrawn and shall remain open until final action by the Hopkins City Council. Should this Purchase
Agreement be accepted and approved by a four-fifths (4/5ths) vote of the Hopkins City Council, Buyer and Seller shall be , '
'-" 'bound by this Purchase Agreement at the time of such approval.
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," I)EFAULT: If Buyer defaults in any of the agreements herein, Seller may terminate this Purchase Agreement, and payments,
made hereunder may be retained by Seller as liquidated damages. If this Purchase Agreement is not so terminated, Buyer
and Seller may seek actual damages for breach of this Agreement or specific performance of this Agreement; and, as to
specific performance, such action must be commenced within six (6) months after such right of action arises.,
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REAL ESTATE TAXES shall be paid as follows:
Buyershall pay, PRO RATED FROM DAY OF CLOSING real estate taxes due and payable in the year 1997. Sellershall
pay, PRO RATED TO DATE OF CLOSING real estate taxes are due and payable in the year 1997. If the closing date is
changed, the real estate taxes paid shall be pro rated to the new closing date. SeHer warrants taxes due and payabJe in the
year 1997 will be NON.homestead classification. If part or non-homestead classification is indicated, Seller agrees to pay
Buyer at closing $-0- toward the non-homestead portion of the real estate taxes. Buyer agrees to pay any remaining balance
of non-homestead taxes when they become due and payable. No representations are made concerning the amount of
subsequent real estate taxes.
POSSESSION: Seller shall deliver possession of the property not. later than date of closing. All interest, homeowner
association dues, rents, fuel oil, liquid petroleum gas and all charges for city water, city sewer, electricity and natural gas 'shall
be prorated between the parties as of date of closing. Seller agrees to remove ALL DEBRIS AND ALL PERSONAL
PROPERTY NOT INCLUDED HEREIN from the property by possession date.
BROKERS: Buyer shall be solely responsible for all brokerage fees or real estate commissions, if any, that are due as a
result of the sale of the subject property to Buyers.
NOTICES. Any notice, request or other communication required or provided to be given under this Agreement shall be in
writing and shall be deemed to be duly given when delivered personally or when mailed by first class United States Mail,
postage prepaid, addressed as follows: '
To Seller:
City of Hop ins
c/o Steven J. Stadler, Public Works Director
10 10 First Street South
Hopkins, Minnesota 55343
With a Copy mailed
simultaneously to:
Jeremy S. Steiner
Vesely, Miller & Steiner, P.A.
400 Norwest Bank Building
10 J J First Street South
Hopkins, Minnesota 55343
Seller and Buyer Initial: Seller(s)
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Buyer(s) .t'"""~ Date
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PURCHASE AGREEMENT
Page 3 of3
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To Buyer:
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"ISAAC I Z:VA/IIGtf.L/I\Jz... Cfl5/MlrZ
.ID51-'C 2ql-h AVf..J\1U(. .$2"-
VI I r0 IV f: A P L 1..5
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Daytime telephone nurn er: I
Home telephone numb~r: (In J ..2)
" '" 7 - 12Ll 8"
3,q- qU,(,
or to such other address as either party, by notice given a; herein provided, shall designate. Mailed notice shall conclusively
be deemed to have been given two (2) business days after the date of mailing.
I, the owner of the property, accept this Agreement.
J agree to purchase the property for the price and on
the tenns and conditions set forth above.
City of Hopkins
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(Duyer'sSignature)
By
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(Date)
Z. . f'J. C.4$ I 1'1 I ~
Its
(Duyer's Printed Name)
4bg -:2.5-3/41
(Social Security orTax ID Number)
MAIZr< I z..J)
(Marital Status)
By
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x E. N, CGo~ 5~):''''-97
(Duyer's Signature) (Dale)
zVf! Nc;<;'L)rJ~ N, CASJM/ r-Z
(Buyer's Printed Name)
Date of Seller's Acceptance of Purchase Agreement:
L02-2:, - 9403
(Social Security Number)
1'1(.\RRI~
(MaritaIStatus).
THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER AND SELLERS.
IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
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3c:~,:" ExiuBIli'XTOPURCHASE'AGREEMENT .
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Th,j'Ecis!'168.4 fiefl)ing SoUth of the North 2-4-0 fe,,( of. that port of the; sOutheast
Quart~ of the' Southeast Quarter of Section 23, TownshIp 117, Range 22, described
as follows:. Beginning at 0 point where the Northerly /lne of the abandoned rIght of
way of the ChIcago, I.IUwaukee. and St. Paul and SUburban. RaUway COmpany (later
leased to .and accupled by the MInneapolis, St. Paul and SubUrban RaUroad, Company)
os sold' right of way was loCated and constructed across saId Southeast Quarter of
Southeast Quarter' of saId Sectroit 23 Is Intersected by 0 /lne parallel wIth and 660
feet.Wes~ rnea.~recf... at ri9ht, angl~. from the East. /lne of sold Southeast .Quarter
of Southeast. Quarter' of saId Sectron 23; runnIng thence North on sold parollel line
310.3 foet;. thenc" West at right angles 673.6 feet, more or less, to the West line of
sold Sotheast Quort.... of Southeast Quarter of Sectron 23: thence South on said West
line 358.2 feet. more or less, to said Northerly /lne of.rlght of woy., thence Easterly
along said right of way /lne' to the poln~ of beginning,' .
which lies westerly and southwesterly of 0 line desc:rlbed as follows:
CommencIng at the southwest comer of the Southeast Quarter of the Southeast Quarter
of SectIon 23, TownshIp 117, Range 22: thence run northerly along the west line of sold
Southeast 'Quarter of the Southeast Quarter on on assumed bearing of North 03 degrees
. 15 minutes 56' seconds East for 0 dlstan.ce of 53.42 feet; thence North 89 degrees 43
mInutes 43 seconds East for 736.06 feet to the actual poInt of begInnIng of the line to
be described: thence North 57 degrees 33 mInutes 30 seconds West for 109.50 feet;
thence detlect right along a tangentral curve having a radius of 41.41 feet, delta angle
of 101 degrees 00 minutes 43 .seconds, for 73.00 feet: thence North 35 degrees 45
minutes 4a seconds East for 55.62 feet and sold /lne there termlnaUng. .
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TO PU~CHASE:AGREEMENT
EXHI~:J;T:B, "".-0,
... ..SEALED WELL. LOCATION
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Truth-in-Lending
Disclosure
< Date:
Creditor:
05/05/97
NORWEST MORTGAGE
Borrowers: ISAAC E CASIMIR.
EVANGELINE N CASIMIR
2900 PRESIDETIAL DR.
SUITE 205
FAIRBORN , OH 45324
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Property
Location:
000 CREDIT ONLY
MINNEAPOLIS, MN 55414
">i:;
.-::.:
Annual Percentage Rete
Finance Charge
Amount Financed , I
Total of Payments
The amount you will have
paid after you have made
all payments as scheduled.. .
The cost of your credit as
a yearly rate,
The dollar amount the credit
will cost you,
The Amount of credit provided
to you or on your behalf.
8.8405 (E)
%
$
340219.80 (E)
$
168339.05 (E)
$
526558.85 (E)
Your payment schedule will be
(E) means estimate
':,'-
,
---.---- "--~.._---- ---~- -
Number of Payments Amount of Pay"!.ents When Payments are Due
- MONTHLY, BEGINNING
11. IE) ~SSO.91 IE) IE~.__ SEPTEMBER 01 1997
240 1427.41 AUGUST 01 2007
1 1422.16 AUGUST 01 2027
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Insurance
Property insurance is required. Property insurance may be obtained through any person of your choice. If you choose to obtain
property insurance through the creditor. the term of the policy will be N/A
and the premium for that term will be $ N/A
Flood Insurance 0 is 0 is not required. If required, flood insurance may be obtained through any person of your choice. If
you choose to obtain flood it1surance through the creditor, the term of the policy will be N/A
and the premium for that term will be $ N/A FLOOD DETERMINATION CANNOT BE
MADE AT THIS TIME. BORROWER{S) WILL BE NOTIFIED AT LEAST 10 DAYS PRIOR TO
Security: You are giving security interest in PROPERTY AT 000 CREDIT ONLY. MINNEAPOLIS,
MN 55414
Late Charge:
If payment is late, you wi'll be charged 5.000
% of the payment.
Prepayment:
If you payoff early. you
[J may !Xl will not have to pay a penalty.
[] may {XI will not be entitled to a refund
of part of the finance charge.
Someone buying your home:
o mav. subject to conditions, be aI/owed to assume the remainder of the mortgage on the original terms.
[lg cannot assume the remainder of the mortgage on the original terms.
o If you prepay your loan other than on the regular
installment date you may be assessed interest charges
until the end of the month.
Assumption:
Demand Feature: This obligation 0 has !Xl does not have a demand feature.
Variable Rate: Your loan 0 does IXJdoes not contain a variable-rate feature. Disclosures about the variable.rate feature
have been provided to you earlier.
See your contract documents for any additional information about nonpayment, default, any required repayment in full before
the scheduled date. and prepayment refunds and penalties. Included with this disclosure and made a part of it is the Good Faith
Estimate of Settlement Services.
.":;
By signing below, I/we acknowledge that I/we received a copy of this disclosure on
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Applicant ISAAC E
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CASIMIR
E, IV. Ca.,"""';"
Appff~nt EVANGELINE N CASIMIR
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Applicant
Applicant
NMFLIOI921/196
VESELY, MILLER & STEINER, P.A.
PROFESSIONAL ASSOClA TION
ATTORNEYS AT LAW
JERRE A. MILLER
JEREMY S. STEINER'
WYNN CURTISS
400 NORWEST BANK BUILDING JOSEPH C. VESELY (1905-1989)
1011 FIRST STREET SOUTH
HOPKINS, MINNESOTA 55343
. ReaJ Property J.aw Specialist, cenified
by the MinnesoJaState Bar Associalion
612-938-7635
FAX 612-938-7670
May 29, 1997
Steven Stadler
Public Works Director
1010 First Street South
Hopkins, MN 55343
Re: 130 19th Avenue South Sale
Dear Steve:
I have reviewed the packet of bids that you had delivered to my office.
The Purchase Agreements submitted to all bidders was identical in every respect except for the cash
offer which was submitted by Isaac and Evangeline Casimir for $31,360.00.
The Purchase Agreement is supported by earnest money of$I,568.00 which, upon approval and
acceptance by the Council on Tuesday night and duly signed, should be deposited with Mr. Schedler
without delay and the buyers notified of the acceptance of the offer.
A Truth and Lending Disclosure, copy attached to the Purchase Agreement, indicates the Casimirs
intend to obtain a mortgage through Norwest Mortgage Company.
With this letter, I have returned the Casimir offer and all of the other bids submitted.
If any further information is desired, let me know.
Sincerely,
Jerre A. Miller
Hopkins City Attorney
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Enclosures
cc: Norb Kerber
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CITY OF HOPKINS
Hennepin County, Minnesota
RESOLUTION NO. 97-63
RESOLUTION APPROVING THE PURCHASE AGREEMENT BY
AND BETWEEN THE CITY OF HOPKINS, MINNESOTA
AND ISAAC E.N. CASIMIR
WHEREAS, the city of Hopkins, is the owner of certain real property
located within the city at 130 - 19th Avenue South; and
WHEREAS, Isaac E. N. Casimer has presented to the City a purchase
agreement for the purchase of the parcel at 130 - 19th Avenue South,
Hopkins, Minnesota for a purchase price of $31,360; and
WHEREAS, the bid price is not less than the fair and reasonable market
value of the property.
NOW THEREFORE BE IT RESOLVED, that the City Council of the City of
Hopkins, Minnesota enters into a purchase agreement with Isaac E.
N. Casimir
Adopted by the city Council of the City of Hopkins this 3rd Day of
June, 1997.
By
Charles Redepenning, Mayor
ATTEST:
Terry Obermaier, City Clerk