HomeMy WebLinkAboutOrdinances - MC-77-103 - 02/22/1977 - agreement property exchanage Lots B and C Boone VaORDINANCE Mc - 103
Ale. -7 7-lo3
AN ORDINANCE
WHEREAS, the City is the owner of the following described
premises:
That part of Lot "C" in Boone Valley Plat No. 6,
a subdivision of part of the Northwest Quarter
of Section 34 and part of the Northeast Quarter
of Section 33, Township 45 North, Range 8, East
of the 3rd. P. M., and recorded June 10, 1971 as
Document No. 544371, described as follows:
Canmencing at a point on the Southwesterly line of
said Lot "C" South 37 Degrees, 53 Minutes 07 Seconds
East 200 feet from the most Westerly corner of said
lot; thence continuing South 37 Degrees, 53 Minutes
07 Seconds East 100 feet; thence North 52 Degrees
06 Minutes, 53 Seconds East 100 feet; thence North
37 Degrees, 53 Minutes 07 Seconds West 100 feet;
thence South 52 Degrees 06 Minutes 53 Seconds West
100 feet to the place of beginning in McHenry County,
Illinois.
and,
WHEREAS, the City desires to exchange its aforesaid premises
for the following described premises:
and,
That part of Lot "B" in Boone Valley Plat No. 6,
being a subdivision of part of Sections 33 and 34,
Township 45 North, Range 8 East of the 3rd. P. M.,
according to the Plat thereof recorded in the
Recorder's Office of McHenry County, Illinois, on
June 10, 1971 as Document No. 544371, described as
follows: Beginning at the most Southerly Corner of
Lot "B" and running thence Northeasterly on the
Easterly line thereof for a distance of 100 feet to
a point; thence Northwesterly and parallel to the
Southwesterly line of said Lot "B" for a distance of
130 feet to a point; thence Southwesterly for a dis-
tance of 100 feet to a point on the Southwesterly
line of said Lot "B", said point being 130 feet
Northwesterly from the place of beginning; thence
Southeasterly 130 feet to the place of beginning in
the City of McHenry, McHenry County, Illinois.
WHEREAS, it is deemed in the public interest that the
Page 2
aforesaid exchange of real estate take place; and,
WHEREAS, the acquisition of the above --described real estate
by the City as a result of such exchange will serve the public
and corporate purposes for which the City is organized.
NOW, THEREFORE, be it ordained by the City Council of the
City of McHenry, Illinois, as follows:
SECTION 1. It is hereby determined that it is in the
public interest that the City enter into an agreement to ex-
change the aforesaid described real estate in accordance with
the terms and provisions contained in the agreement which is
attached hereto and made a part hereof as Exhibit A.
SECTION 2. That the Mayor and Clerk of the City are
hereby authorized and directed to execute the said attached
agreement, and to do all things necessary and essential, in-
cluding the execution of any documents necessary to carry out
the provisions of said agreement.
SECTION 3. That this Ordinance shall be in full force
and effect from and after its passage and approval and publi-
cation in pamphlet form by and under the authority of the
corporate authorities of the City of McHenry as provided by
law.
PASSED this 22 day of February _, 1977.
AYES: -Bolger, Pepping, Harker, Datz , Smith . Schaedel
NAYS: None
ABSENT: Wegener, Hromec .
APPROVED this 22 day of February _, 1977.
011
' Mayor
ATTEST:
Village Clerk
Published in pamphlet form this 23 day of Fahri,ary
1977.
REAL ESTATE EXCHANGE CONTRACT
This Agreement entered into this —City
of
CJ/gl 1 , 1977, by and between the City of McHenry,
a Municipal torporation of Illinois, hereinafter referred to
as City, and Northwest National Bank of Chicago, as Trustee, under Trus
Agreement dated June 5, 1976, and known as Trust No. 3355
of the County of Cook' and State of Illinois, hereinafter
referred to as Northwest , WITNESSETH:
in consideration of their mutual promises and covenants
set out below, the parties hereto agree as follows:
1. The City agrees to convey to Northwest , the
following described premises, to wit:
That part of Lot "C" in Boone Valley Plat No. 6,
a subdivision of past of the Northwest Quarter
of Section 34 and part of the Northeast Quarter
of Section 33, Township 45 North, Range 8, East
of the 3rd. P. M., and recorded June 10, 1971 as
Document No. 544371, described as follows:
Co=encing at a point on the Southwesterly line of
said Lot "C" South 37 Degrees, 53 Minutes 07 Seconds
East 200 feet from the most Westerly corner of said
lot; thence continuing South 37 Degrees, 53 Minutes
07 Seconds East 100 feet; thence North 52 Degrees
06 Minutes, 53 Seconds East 100 feet; thence North
37 Degrees, 53 Minutes 07 Seconds West 100 feet;
thence South 52 Degrees 06 Minutes 53 Seconds West
100 feet to the place of beginning in McHenry County,
Illinois.
and, in consideration of such conveyance, Northwest agrees
to pay to the City the sum of $4,000.00, to convey the following
described premises to the City, to -wit:
That part of Lot "B" in Boone Valley Plat No. 6,
being a subdivision of part of Sections 33 and 34,
Township 45 North, Range 8 East of the 3rd. P. M.,
according to the Plat thereof recorded in the
Recorder's Office of McHenry County, Illinois, on
June 10, 1971 as Document No. 544371,, described as
follows: Beginning at the most Southerly Corner of
Lot "B" and running thence Northeasterly on the
Easterly line thereof for a distance of 100 feet to
a point; thence Northwesterly and parallel to the
Southwesterly line of said Lot "B" for a distance of
130 feet to a point; thence Southwesterly for a dis-
tance of 100 feet to a point on the :southwesterly
line of said Lot "B", said point being 130 feet
Northwesterly from the place of beginning; thence
Southeasterly 130 feet to the place of beginning in
the City of McHenry, McHenry County, Illinois.
and to grant to the City an easement for municipal and public
utilities and for drainage purposes, consisting of a strip of
ay, kAk�k'K- N
Page 2
land 20 feet in width along the Southwesterly boundary line
Of the aforesaid Lots C and B from Oakwood Drive to the
aforesaid premises to be conveyed to the City.
2. The respective conveyances shall be by Warranty Deeds
with release of dower and homestead rights, :subject only to (1)
general taxes for the year 1977 and subsequent years; (2) Build-
ing lines and restrictions of record; (3) Zoning and building
laws or ordinances; and (4) Roads and highways, if any.
General taxes for the year 1977 are to be prorated from
January 1, to date of delivery of deeds. If the amount of such
taxes is not then ascertainable, prorating shall be on the basis
of the amount of the most recent ascertainable taxes.
3. Within twenty days from date hereof, each party shall
deliver to the other party or his agent (which delivery may be
made at the office of Narusis & Narusis, 213 W. Lake Shore Drive,
Cary, Illinois 60013 for City, and at the office of Joslyn &
Green, 145 Virginia Street, Crystal Lake, Illinois 60014 for
Northwest ), as evidence of title covering date hereof,
showing title in the party so delivering such evidence of title,,an
Owner's title insurance policy of McHenry County Title Company
in the sum of $1,000.00 for first premises and $ 1,000.00
for second premises, or its customary commitment subject to the
foregoing and to the usual objections contained in such policies,
such policy or commitment to be conclusive evidence of good title
subject only to the exceptions therein stated.
If evidence of title furnished discloses any defect in title
except matters to which such title is to be :subject by the terms
hereof, the party furnishing it shall have thirty days, computed
from delivery of evidence of title, in which to cure all defects,
to which such title is not to be so subject. Either party at his
election may, and if title insurance policy or commitment was
furnished in first instance, must, cure all objections to title
by delivery of title insurance policy or later report on title
such as he might have furnished in the first instance showing
such defects cured or removed. If such defects in title be not
cured within such thirty days, the party whose title is defective
shall then be deemed in default, and the other party may terminate
this contract or may,at his election, take the title as it then
is on giving the opposite party notice of such election and tender-
ing performance. If no such notice be given (or tender made) within
ten days after notice to the other party of the opposite party's
inability to cure such defects, then this contract shall be null
and void.
4. The time of closing shall be on March 15, 1977, unless
subsequently mutually agreed otherwise, at the office of Narusis &
Narusis, 213 W. Lake Shore Drive, Cary, Illinois.
5. Possession of the aforesaid premises shall be delivered
to the respective parties herein at the time of the closing of
this transaction.
Dated- �/9 CITY OF McHENRY, A Municipal Corporation
$y . ✓ t OR
ATTEST:
CITY CLERK
NORTHWEST NATIONAL BANK OF CHICAGO,
as Trustee, under Trust Agreement
dated June 5, 1976, and known as Trust
No. 3355, and not individually,
By:
TRUST OFFICER