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HomeMy WebLinkAboutResolution 2003-109 purchase agreement with dan and patricia postMARANA RESOLUTION NO. 2003-109 A RESOLUTION OF THE MAYOR AND COUNCIL OF THE TOWN OF MARANA, ARIZONA, AUTHORIZING THE EXECUTION OF A REAL ESTATE IMPROVEMENTS PURCHASE AGREEMENT WITH DAN AND PATRICIA POST. WHEREAS, the Town of Marana has received the assignment of Arizona State Land Department Agriculture Lease Number 01-106983 from Dan and Patricia Post; and WHEREAS, the Posts own various improvements located on the State Land, including a 2,037 square foot residential dwelling, a horse barn, horse corrals, a hay barn, perimeter fencing, an irrigation well, storage tank, concrete ditches and laser leveled hay fields (the "Subject Improvements") WHEREAS, the Town has commissioned an appraisal to determine the value of the Subject Improvements, based on their estimated depreciated replacement cost; and WHEREAS, the Town desires to purchase the Subject Improvements in order to consolidate the Town's holdings for possible future acquisition of the State Land for the Town's new Cultural and Heritage Park. NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the Town of Marana, Arizona, authorizing the Town of Marana to enter into and the Mayor to execute the "Real Estate Improvements Purchase Agreement" with Dan and Patricia Post in the form presented to the Mayor and Council concurrently with this Resolution. this 16th day of September, 2003. PASSED AND ADOPTED by the Mayor and Council of the Town of Marana, Arizona, ATTEST: ,~6'~celyn ~. ~ronson, Town Clerk-'~'""~'-~ Mayor B~B~IJte'SUTTON, JR. I~P~VED AS TO FORM: ~ C:y, To, A~y Marana Resolution No. 2003-109 09/09/2003 4:52 PM REAL ESTATE IMPROVEMENTS AC.QUISITION AGREEMENT TlllS AUREEMENT ("Agreement") is mad~ ami ~Illl.;n;(l into by and between THE TOWN or MARANA, an Arizona municipal corporation (the "Town") and DANIEL K. POST and PATRICIA POST, husband and wife (the "Posts"). The Town and the Posts are referred to collectively as the "Parties." RECITALS A. The Posts have a farming operation on approximately 75 acres of land located in the Town of Marana, Pima County, Arizona, and more particularly described as the east half of the northwest quarter of the southeast quarter, the northeast quarter of the southeast quarter, the north half of the northwest quarter of the southeast quarter of the southeast quarter, and the northeast quarter of the southeast quarter of the southeast quarter of Section 33, Township 11 South, Range 11 East, Gila and Salt River Base and Meridian, Pima County, Arizona (the "Underlying Land"). B. The Posts have for many years held Agriculture Lease Number 01-106983 with the Arizona State Land Department for the Underlying Land (the State Land Lease). C. The Posts own various improvements located on the Underlying Land, ineluding without limitation a 2,037 square foot residential dwelling, a horse barn, horse corrals, a hay barn, perimeter fencing, an irrigation well, storage tank, concrete ditches and laser leveled hay fields (the "Subject Improvements"). D. The Town desires to acquire, and the Posts desire to sell, the Posts' interests in the Underlying Land and the Subject Improvements through assignment of the State Land Lease and acquisition of the Subject Improvements. E. The Parties have applied to the Arizona State Land Department for an assignment of the State Land Lease to the Town, and the State Land Lease was assigned to the Town on September 2, 2003. The State Land Lease assignment is attached as Exhibit A and incorporated here by this reference. F. In anticipation of the Town's acquisition, the Town com:nlssioned an appraisal of the Subject Improvements that provided an opinion of the value of the Subject Improvements, based on their estimated depreciated replacement cost. G. The Town dt:sires to transition the Underlying Land for use and development as the Town's new Cultural and Heritage Park, and the Parties recognize that it is to their mutual benefit and in the public interest for the 1 Jnrlerlying Property to continue to be productively used until then. AGREEMENT Now, THEREfORE, in consideration of the foreeoing premises and the mutual covenants set forth in this Agreement, the Parties hereby agree as follows: TOWN OF MARANA IDAN/b'L K. POST & P ATRfrfA POST REAL ESTATE IMPROVEMENTS ACQUISITION AGREEMENT - 1 - 09/12/200311:02 AM 1. Sale of the Subject Improvements. The Posts hereby sell the Subject Improvements to the Town, free and clear of any and all liens and encumbrances whatsoever. 2. Purchase Price. Not later than September 30,2003, the Town shall pay the Posts the sum of One Hundred Eighty Thousand Dollars ($180,000.00) for the Subject Improvements. 3. Further Acts. The Posts shall execute any additional reasonable documentation necessary to evidence or accomplish the sale of the Subject Improvements to the Town. 4. No Warranty. The Town acquires the Subject Improvements as is, without any warranty of any kind from the Posts except that the Subject Improvements are free and clear of any and all liens and encumbrances whatsoever. 5. Leasebackfor Farming. In further consideration of the Town's acquisition of the Subject Improvements, the assignment of the State Lease to the Town, and the benefits to the Town resulting from the continued productive use of the Underlying Land, the Town hereby subleases the Underlying Land and leases the concrete ditches and laser leveled hay fields back to the Posts for the operation of a farm in a farmlike manner consistent with the Posts' existing and historic use ofthe Underlying Land. This sublease and lease may be terminated by either party upon sixty days' written notice to the other party. 6. Miscellaneous. (A) This Agreement may not be modified except in a writing signed by the Parties. (B) This Agreement shall be governed by and interpreted in accordance with the laws of the State of Arizona. (C) This Agreement is subject to A.R.S. S 38-511, which provides for cancellation of contracts in certain instances involving conflicts of interest. IN WIlNESS WHEREOF, the Parties hereto have executed this Agreement as of the last date set forth below their respective signatures. THE TOWN: THE TOWN OF MARANA, an Arizona municipal corporation ~~ -0 . y utton, Jr., ~or Date: t:f'-/" -~ A ITEST: ~O-<-/ J lyn C. onson, Clerk TOWN OF MARANA /DANIEL K. POST & P ATRlCIA POST Daniel K. Post Da~ ~~ Patricia Post Date: f- I d.. - 03 - 2 - uk Ca..s,sldy, Town {/ . REAL ESTATE IMPROVEMENTS ACQUISITION AGREEMENT 09/1212001 11-07. AM SlATE OF ARIZONA ) ss County of Pima ) The foregoing instrument was acknowledged before me on September/~, 2003 by Daniel K. Post and Patricia Post, husband and wife. My commission expires: ~~ Notary lbhc NOTARY PUBLIC STATE OF ARIZONA County of Pima DIANE MANGIALARDI My Appointment Expires 03.110004 TOWN OF MARANA /DANIEL K. POST & PATRICIA POST REAL ESTATE IMPROVEMENTS ACQUISITION AGREEMENT 3 - UlJIl:lI:'WUJ II:U2AM