HomeMy WebLinkAboutResolution 2004-141 purchase agreement for a lot for the HOME programMARANA RESOLUTION NO. 2004-141
RELATING TO REAL ESTATE; AUTHORIZING THE TOWN OF MARANA TO ENTER
INTO A PURCHASE AGREEMENT WITH ABOUD & ABOUD PARTNERSHIP TO
PURCHASE A LOT FOR THE TOWN OF MARANA HOME PROGRAM.
WHEREAS, The Town of Marana desires to engage in housing and community
development activities as authorized under its HOME Program regulations; and
WHEREAS, Aboud & Aboud Parmership owns, and desires to sell, a lot located on
Moore Road, identified as Pima County Assessor Parcel # 217-50-0040; and
WHEREAS, the Town of Marana desires to purchase the lot and build houses to be sold
to low to moderate income citizens through the HOME Program; and
WHEREAS, the Mayor and Council of the Town of Marana feel it is in the best interests
of the public to continue the HOME Program.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE
TOWN OF MARANA, ARIZONA, AS FOLLOWS:
SECTION 1. The Purchase Agreement between the Town of Marana and the Aboud &
Aboud Partnership, attached to and incorporated by this reference in this resolution as Exhibit A,
is hereby authorized and approved.
SECTION 2. The Town Manager is hereby authorized to execute said Exhibit A, and the
Town Clerk is hereby authorized to attest thereto, for and on behalf of the Town of Marana
SECTION 3. The Town Manager, Town Attorney, and the other Town staff are hereby
authorized to undertake all actions necessary to carry out the terms, obligations, and objectives
of said Exhibit A.
PASSED AND ADOPTED BY THE MAYOR AND COUNCIL OF THE TOWN
OF MARANA, ARIZONA, this 19th day of October, 2004.
Mayor Bobby Sutton, Jr.
n C¢/Bronson, Town Clerk
APPROVED AS TO FORM:
./.~//- Ur7 c"as'sidy,/~n Attorney
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ACQUISITION AGREEMENT
This Agreement is made by and between Aboud & Aboud Partnership (the
"Owner") and the Town of Marana, a municipal corporation (the "Town").
Property and Acquisition Amount. The Owner is the owner of the property
described on Exhibit "A", including all improvements located thereon (the
"Property"). The Town has determined the need to acquire the Property by its
power of eminent domain. In lieu of court proceedings and further to its
power of eminent domain, the Town agrees to acquire the Property for
Sixteen Thousand Dollars(S16,000.00) (the "Acquisition Amount"), subject to
the terms and conditions set forth below.
No Personal Property. The parties acknowledge that no personal property
is being acquired under this Agreement and that no personal property is
located on the Property being transferred.
Risk of Loss for Damage to Improvements. Owner shall be responsible for
the risk of loss for any and all damage to the improvements prior to close of
escrow.
4. Warranty Deed. The Owner shall deposit into escrow a warranty deed
conveying to Town title to the Property, free and clear of all liens and
encumbrances and subject only to those matters identified on Exhibit "B".
5. No Salvage. The Owner shall not salvage or remove any fixtures,
improvements, or any portion of the Property prior to closing.
Escrow and Prorations. The Acquisition Amount shall be payable in full at
closing. The date of closing shall be used for proration of rents, property
taxes and other similar costs, and assessments due for improvement districts
shall be paid in full by the Owner prior to closing.
Security Interest. Monies payable under this Agreement may be due
holders (the "Lienholders") of certain notes secured by mortgages or deeds of
trusts, up to and including the total amount of unpaid principal, interest and
penalty on the notes, if any, and shall upon demand by the Lienholders, be
paid to the Lienholders. Owner shall obtain from the Lienholders releases for
any fee transfer for the Property.
Possession and Closing. Possession shall be given to the Town on date of
closing. Closing shall be on or before the later of (a) 30 days after the date
this Agreement is approved by the Town Council or (b) 30 days after receipt
of all necessary releases from lienholders.
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Water Rights. The Owner agrees to assign and hereby transfers, effective
upon closing, to Town any water rights certificated or claimed appurtenant to
the Property owned by Owner. Owner shall execute documents reasonably
necessary to effect such transfer.
Environmental Representations. Owner hereby represents and warrants
that, to the best of Owner's knowledge, no pollutants, contaminants, toxic or
hazardous substances, wastes or materials have been stored, used or are
located on the Property or within any surface or subsurface waters thereof;
that no underground tanks have been located on the Property; that the
Property is in compliance with all Federal, state and local environmental laws,
regulations and ordinances; and that no legal action of any kind has been
commenced or threatened with respect to the Property.
Environmental Indemnification. The Town and the Owner agree that
neither party is assuming any obligation of the other party relating to any
potential liability, if any, arising from the environmental condition of the
Property, each party remaining responsible for its obligations as set forth by
law.
Environmental Inspection Rights. Owner shall permit Town to conduct
such inspections of the Property, as the Town deems necessary to determine
the environmental condition of the Property. If the investigations reveal the
presence of contamination or the need to conduct environmental clean up,
Owner shall conduct a clean up of the Property adequate to bring the
Property into compliance prior to Closing or Town may terminate this
agreement.
No Leases. Owner warrants that there are no oral or written leases on all or
any portion of the property.
Broker's Commission. No broker or finder has been used and Town owes
no brokerage or finder's fees related to this transaction. Owner has sole
responsibility to pay all brokerage or finder's fees to any agent employed.
Closing Costs. Expenses incidental to transfer of title, including title reports,
recording fees, escrow fees, releases and Owners Title Insurance Policy,
shall be paid 100% by Town.
No Sale. Owner shall not sell or encumber the property before closing.
Conflict of Interest. This Agreement is subject to A.R.S. 38-511, which
provides for cancellation of contracts by Town for certain conflicts of interest.
Survival of Representation and Warranties. All representations and
warranties contained herein shall survive the closing for a term of ten years.
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'19. Entire Agreement. This signed document shall constitute the entire
Agreement between the parties and no modification or amendment to this
Agreement shall be binding unless in writing and signed by both parties. The
performance of this Agreement constitutes the entire consideration by Town,
including all just compensation and severance damages to the remainder
property and shall relieve the Town of all further obligation or claims relating
to the Property.
SELLER:
Owner Owner
Date: Date:
Tax ID # or SS # Tax ID # or SS #
BUYER:
TOWN OF MARANA
BY:
Michael Reuwsaat
Town Manager
APPROVED AS TO FORM:
Frank Cassidy
Town Attorney
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EXHIBIT A
Pima County Assessor's Office Parcel #217-50-0040 located at 12275 W. Moore
Road, Marana, Arizona 85653.
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