HomeMy WebLinkAboutR-1996-156 Purchase & Sale Agreement / Michael M. & Kathy MercyA RESOLUTION
RESOLUTION NO. R-96- 156
authorizing and directing the City Manager and City Clerk of the
City of Yakima to execute a Purchase and Sale Agreement with
Michael M. Mercy and Kathy Mercy, husband and wife, for the
purchase of unimproved property located at Spruce and Third
Streets in the City of Yakima.
WHEREAS, Michael M. Mercy and Kathy Mercy, husband and wife, are the
current owners of four unimproved lots located at the northeast corner of the
intersection of Third Street and Spruce Street in the City of Yakima; and
WHEREAS, the Mercys are desirous of selling the property to the City; and
WHEREAS, the property is located directly across Third Street from the City of
Yakima Police Station/Legal Center and could be used for parking for that facility;
and
WHEREAS, a Phase I Environmental Audit of the property has been completed
and has been reviewed by the City; and
WHEREAS, the City and the Mercys have agreed on a purchase price of
$325,000, now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF YAKIMA:
The City Manager and City Clerk are hereby authorized and directed to execute
the attached and incorporated Purchase and Sale Agreement with Michael M. Mercy
and Kathy Mercy, husband and wife, and the City Manager is further authorized and
directed to take all necessary and prudent actions to complete the purchase and
acquisition of the property described as Parcel A in the attached Purchase and Sale
Agreement, including, but not limited to, the procurement of professional services
for necessary Phase I/Phase II Environmental Site Assessments within the
limitations of existing budget authority.
BE IT FURTHER RESOLVED BY THE CITY COUNCIL OF THE CITY OF
YAKIMA:
That Resolution R-96-136 is hereby rescinded as of this date.
ADOPTED BY THE CITY COUNCIL this 3re day of
ATTEST:
City Clerk
(1s)res/marry jr
, 1996.
nn Buchanan, Mayor
PF.O. Box 1682 • Yakima, Washington 98907
406 N. 2nd Street 248.6210
Fidelity Title Company
WHEN RECORDED RETURN TO:
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COUigTY EXCtSETAS
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REC. t40,
BY
Yakima Catney
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STATUTORY WARRANTY DEED
Grantor: (1) Michael M. Mercy (2) Kathi D. Mercy
Grantee: (1) City of Yakima
Legal Description (abbreviated): Lots 9, 10, 11 & 12, B1 73,
TOWN OF NORTH YAKIMA, now Yakima
Additional Legal on Page One.
Assessor's Tax Parcel ID#191319-24457 (Lot 11), 191319-24456 (Lot
10) and 191319-24454 and 24455 (Lot 9);
Reference Nos. of Documents Released or Assigned:
THE GRANTORS, MICHAEL M. MERCY and KATHI D. MERCY, husband
and wife, for Ten Dollars and other good and valuable
consideration, in hand paid, convey and warrant to CITY OF
YAKIMA, a Washington municipal corporation, the following
described real estate, situated in the County of Yakima, State of
Washington:
Lots 9, 10, 11 and 12, Block 73, TOWN OF NORTH YAKIMA, now
Yakima, Washington, as recorded in Volume "A" of Plats, Page 10,
and re-recorded in Volume "E" of Plats, Page 1, records of Yakima
County, Washington.
Situated in Yakima County, State of Washington.
YAKIMA COUNTY ASSESSOR'S PARCEL NUMBERS 191319-24458 (Lot 12),
191319-24457 (Lot 11), 191319-24456 (Lot 10) and 191319-24454 and
24455 (Lot 9); LEVY CODE 331.
SUBJECT TO:
1. Liability for future annual assessments by reason of
inclusion within the boundaries of City of Yakima Irrigation
Maintenance District Number 308; and
2. Rights reserved in federal patents, state or railroad deeds,
-1-
building or use restrictions general to the area, zoning
regulations, easements, conditions, restrictions,
reservations, rights of way, covenants and other servitudes
appearing of record, together with encroachments, claims of
adverse possession, prescriptive easements or boundary line
disputes visible by inspection or which would be disclosed
by survey, and any future adjudication of surface water
rights by any federal or state proceeding.
DATED this /g7» day of,49,61e,47 1990 .
STATE OF WASHINGTON )
ss.
County of Yakima
ON THIS DAY personally appeared before me MICHAEL M. MERCY
and KATHI D. MERCY, to me known to be the individuals described
in and who executed the foregoing instrument, and acknowledged
that they signed the same as their free and voluntary act and
deed, for the purposes therein mentioned.
GIVEN UNDER my hand ar}gi official seal this /(7%' day of
OTARY PUBLIC in and for the Sta
of Washington, residing at
My Commission expires: 4/.2"7460
-2-
Buyer: City of Yakima
Property: 201 So. 3rd Street
,WA
Fidelity Title Company
BUYERS CLOSING STATEMENT
FINAL
Escrow No:
Close Date:
Proration Date:
Date Prepared:
00039692-002 JC
12/18/1996
12/18/1996
12/27/1996
Description
rediit.
TOTAL CONSIDERATION:
Total Consideration
ESCROW CHARGES
Escrow Fee to Fidelity Title Company
Sales Tax to Fidelity Title Company
RECORDING FEES:
Recording Fees to Fidelity Title Co.
PRORATIONS AND ADJUSTMENTS:
County Taxes From 12/18/96 To 12/31/96
Based on the Annual amount of $2,456.78
Sub Totals
Balance Due From Buyer
Totals
325,000.00
425.00
33.58
10.00
87.50
325,556.08
325,556.08
325,556.08
325,556.08
THIS STATEMENT SHOULD BE RETAINED FOR INCOME TAX PURPOSES.
fn
BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. ) I
Meeting of: December 3,1996
ITEM TITLE: Purchase and Sale Agreement with Mike Mercy
SUBMITTED BY: Glenn Rice, Assistant City Manager
CONTACT PERSON/TELEPHONE: Glenn Rice (509) 575-6040
SUMMARY EXPLANATION: At the Council Executive Session on November
19 the Council directed City staff to conclude its negotiations by offering to
purchase property from Michael and Kathy Mercy four unimproved lots
located at the northeast corner of the intersection of South Third and
Spruce Street. The agreed purchase price is $325,000 due at closing.
Attached for your review is a purchase and sale agreement and the
resolution to conclude this purchase.
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
* RESOLUTION ORDINANCE CONTRACT X OTHER *
* *
*FUNDING SOURCE *
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* r'\ C\ *
*APPROVED FOR SUBMITTAL:
* CITY MANAGER *
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
STAFF RECOMMENDATION: Authorize City Manager to execute this
agreement.
BOARD/COMMISSION RECOMMENDATION
COUNCIL ACTION: Resolution adopted. Resolution No. R-96-156
PURCHASE AND SALE AGREEMENT
THIS AGREEMENT is made and entered into this day of
1996, by and between Michael M. Mercy and Kathy Mercy,
Husband and Wife, (hereinafter referred to as "Mercy") and the CITY OF
YAKIMA, Washington, a municipal corporation of the State of Washington,
whose address is 129 North 2nd Street, Yakima, Washington 98901, (hereinafter
referred to as "City"), WITNESSETH:
RECITALS
Mercy is the owner �f the following -described unimproved real property
in Yakima, Yakima County, Washington, hereinafter referred to as Parcel A, to
wit:
Parcel A:
All of Lots 9, 10, 11, and 12, Block 73, Town of North Yakima, now
Yakima, Washington, as recorded in Volume "A" of Plats, Page 10
and re-recorded in Volume "E" of Plats, Page 1, records of Yakima
County, Washington. (Assessor's Parcel No. 191319-24458, 24457,
24456, 24455, 24454).
Said Parcel A is currently unimproved and was used solely for residential
purposes prior to the structures being removed.
The City is seeking to acquire Parcel A and Mercy is desirous of selling
Parcel A. An appraisal has been completed by Western Appraisers, Inc. valuing
Parcel A at Three Hundred Twenty Nine Thousand Dollars ($329,000.00). The
parties have negotiated at arms length for a substantial period of time and
have arrived at an agreement between them whereby Mercy will convey Parcel
A to the City in exchange for the City paying Three Hundred Twenty Five
Thousand Dollars ($325,000.00). to Mercy, due and payable on closing. The
purpose of this document is to set forth the terms and conditions of such
agreement.
IT IS MUTUALLY AGREED by and between the parties hereto as follows:
1 . Conveyance by Mercy. Mercy agrees to convey Parcel A to the City, by
Statutory Warranty Deed, free and clear of all encumbrances, except for rights
reserved in federal patents, state or railroad deeds, utility or other easements
of record, rights-of-way or easements shown on the plat or visible by inspection,
reserved oil or mineral rights, if any, and any pending or future adjudication
of surface water rights.
Page 1 of 4
(14¢x.*
2. Purchase Price of Parcel A. City shall pay Mercy the amount of
Three Hundred and Twenty -Five Thousand Dollars ($325,000.00), due and
payable upon closing.
3. Conditions Precedent to Sale. This Agreement is subject to the
following express conditions precedent, and neither party shall be obligated to
continue under this agreement until all of the following conditions precedent
are satisfied in the manner set forth below:
(A) Clear Title. At or before time of closing, Mercy shall clear any and
all defects in the title and all liens, encumbrances, covenants, rights-of-
way, easements, or other outstanding rights disclosed by the preliminary
title report, except those matters set forth in Section 1 and supply the
City with a description title chain showing past ownership of the
Property.
(B) In the event that the foregoing condition precedent is not satisfied
in the manner set forth above, then this Agreement shall terminate and
be without any further force and effect, and without further obligation of
either party to the other.
4 . Closing. The transaction contemplated hereby shall be closed at
Fidelity ' Title Company, Yakima, Washington, with the contemplated closing
date of November 1, 1996, or as soon thereafter as reasonably practicable
following fulfillment of the conditions precedent. On closing, Mercy shall
deliver to the City its duly executed Statutory Warranty Deed conveying Parcel
A. The City shall be responsible for the payment of the recording fees for the
Deed in its favor, Mercy shall be responsible for payment of the cost of title
insurance for Parcel A , and each party shall pay for one-half (1/2) of the
escrow closing fee. Real Estate Sales Excise Tax if applicable, shall be paid by
the grantor of the taxed parcel.
5. Notices. Any notices required or desired to be given under this
Agreement shall be in writing and personally served, given by overnight express
delivery, or given by mail. Any notices given by mail shall be sent, postage
prepaid, by certified mail, return receipt requested, addressed to the party to
receive at the following address or at such other address as the party may from
time to time direct in writing:
Page 2 of 4
U.n.Rme r.a raana-].
MERCY:
CITY:
Title Company:
Tilley Commercial Real Estate
Attn.: David F. Tilley
313 North 31st Avenue
Yakima, WA 98902
Mr. R. A. Zais, Jr.
City Manager
City of Yakima
129 North Second Street
Yakima, WA 98901
Fidelity Title Company
406 North 2nd Street
Yakima, WA 98901
Express delivery notices shall be deemed to be given upon receipt. Postal
notices shall be deemed to be given three (3) days after deposit with the
United States Postal Service. Copies of all notices to Seller or Purchaser shall be
given to Fidelity Title Company, and copies of all notices to Fidelity Title
Company shall be given to the other party to this Agreement.
6 . Assignment. Neither party shall not transfer or assign this Agreement,
or any interest therein, without the consent in writing of the other party, and
it is agreed that any such transfer or assignment, whether voluntary, by
operation of law or otherwise, without such consent in writing, shall be
absolutely void and shall, at the option of the non-transferring/assigning
party, terminate this Agreement.
7. Waiver of Breach. A waiver by either party hereto of a breach of the
other party hereto of any covenant or condition of this Agreement shall not
impair the right of the party not in default to avail itself of any subsequent
breach thereof. Leniency, delay or failure of either party to insist upon strict
performance of any agreement, covenant or condition of this Agreement, or to
exercise any right herein given in any one or more instances, shall not be
construed as a waiver or relinquishment of any such agreement, covenant,
condition or right.
8. Time of the Essence. Time is of the essence of this Agreement.
9. Law Governing. This Agreement shall be governed in all respects by
the laws of the State of Washington.
10. Successors and Assigns. Subject to the provisions of Section 6, this
Agreement shall be binding upon and inure to the benefit of the parties hereto,
their successors, and assigns.
Page 3 of 4
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11. Entire Agreement. It is understood and agreed that all
understandings and agreements, whether written or oral, heretofore had
between the parties hereto are merged in this Agreement, which alone fully and
completely expresses their agreement, that neither party is relying upon any
statement or representation not embodied in this Agreement, made by the
other, and that this Agreement may not be changed except by an instrument
in writing signed by both parties.
12. Litigation. In the event there should be any litigation arising out of
this Agreement, venue shall lie in Yakima County, Washington, and the
prevailing party shall be entitled to recover its reasonable attorney's fees and
costs.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the date first herein written.
[CITY]
Witness: CITY OF YAKIMA, WASHINGTON
A'1'1'EST:
(Seal)
City Clerk
By:
R. A. Zais, Jr., City Manager
Cl:YCONTn4CT k"J:
RESa,J-!ON NO:
Mercy's acceptance: day of , 1996. Mercy agrees to the
property exchange on the terms and conditions specified herein. Mercy
acknowledges receipt of a copy of the Agreement, signed by both parties.
[MERCY]
Witness: MERCY,
Page 4 of 4
By:
Michael M. Mercy
By:
Kathy Mercy