HomeMy WebLinkAbout2018-08-20-Resolutions 18-341_William Fox Farm Co - Property Purchase Offer - First AmendmentTHE CITY OF WAUKEE,IOWA
RESOLUTION 18-341
APPROVING FIRST AMKNDMKNT TO OFFER TO BUY REAL ESTATE AND ACCEPTANCE
BETWEEN WILLIAM FOX FARM COMPANY,INC.,AND THE CITY OF WAUKKK
IN THENAMEANDBYTHEAUTHORITYOF THE CITYOF WAUKEE,IOWA
WHEREAS,the City of Waukee,Dallas County,State of Iowa,is a duly organized Municipal
Organization;AND,
WHEREAS,on May 21,2018,the Waukee City Council approved an Offer to Buy Real Estate and
Acceptance (Nonresidential)between William Fox Farm Company,Inc.("Seller"),and the City of
Waukee (Resolution ¹18-209);AND,
WHEREAS,due to certain issues that have arisen during the due diligence on this parcel the City has
requested from the seller a 30-day due diligence extension,to which the seller has indicated that they are
willing to grant;AND,
WHEREAS,all other terms of the purchase agreement remain unchanged;AND,
WHEREAS,a proposed First Amendment to Offer to Buy Real Estate and Acceptance is attached hereto
as Exhibit "A".
NOW,THEREFORE,BK IT RESOLVED by the City Council of the City of Waukee that the First
Amendment to Offer to Buy Real Estate and Acceptance between William Fox Farm Company,Inc.,and
the City of Waukee is approved.
BE IT FURTHER RESOLVED that in the event the seller did not return a signed extension of the due
diligence period as agreed to verbally between staff and sellers representative,the notice of termination
sent by staff is hereby approved and ratified.
PASSED,APPROVED,AND ADOPTED this 20"day o ugust,2018.s
am F.card,Mayor
Attest:
Rebecca D.Schuett,City Clerk
RESULTS OF VOTE:
Anna Bergman
R.Charles Bottenberg
Courtney Clarke
Shelly Hughes
Larry R.Lyon
AYE
X
X
NAY ABSENT ABSTAIN
FIRST AMENDMENT TO
OFFER TO BUY REAL ESTATE AND ACCEPTANCE
THIS FIRST AMENDMENT TO OFFER TO BUY REAL ESTATE AND
ACCEPTANCE (this "Amendment")is made as of August QQ,2018 between WILI,IAM
FOX FARM COMPANY,INC.an Iowa corporation ("Seller"),and CITY OF WAUKEE,
IOWA ("~Bu er").
WITNESSETH:
WHEREAS,Seller and Buyer entered into that certain Offer to Buy Real Estate and
Acceptance dated as of May 21,2018 (the "Ori inal A reement"),in connection with the sale of
the real property legally described below:
The SW I/4 of the SW I/4 of Section 20,Township 79N,Range 26W of
the 5"'P.M.,lying south and west of the former railroad right of way;and
The NW I/4 of the NW I/4 of Section 29,Township 79N,Range 26W of
the 5"'P.M.lying south and west of the former railroad right o way,as generally
depicted as a red triangle in the aerial attached to the Original Agreement as
Exhibit A.
Legal description will be verified by Plat of Survey and Abstract:and
WHEREAS,the parties desire to amend the Original Agreement on the terms and
conditions set foith herein.
NOW,THEREFORE,for good and valuable consideration,the receipt and sufficiency of
vvhich are hereby acknowledged,the parties hereby-covenant-andagreeas~s
I.Definitions.Capitalized terms not otherwise defined herein shall have the
respective meanings ascribed to them in the Original Agreement.
II.Due Dili ence Review.Notwithstanding anything to the contrary contained in
Section 7(a)of the Original Agreement,the Due Diligence Period shall be extended an additional
30 days,
III.Ratification,Except as amended hereby,the Original Agreement remains in full
force and effect and is hereby ratified and confirmed.
IV.Counte arts Facsimile/PDF.This Amenchnent may be executed in counterparts,
each of which shall be deemed an original.A facsimile or PDF copy of this Amendment or any
portion hereof,including the signature page of any party,shall be deemed an original for all
purposes.
[Signatures on Next Page]
IN WITNESS WHEREOF,the parties have executed this Amendment as of the day and
year first above written.
SELLER:
WILLIAM FOX~
an lowe corporation
/
COMPANY,INC.,
/fi:
By:
Linda J.M ning,Presi ent
BUYER:
CITY OF WAUKEE,IOWA
B
i ia card,ayor