Resolution 2987 - Authorize Purchase of Real EstateRESOLUTT()N_N0_ ?qR7
A RESOLUTfON TO AUTHORIZE THE CITY OF KAISPELL TO PURCHASE REAL
ESTATE AND TO ENTER INTO AN AGREEMENT WITH SELLER FOR FIGHT OF
FIRST REFUSAL TO REPURCHASE SAME.
WHEREAS, the City does desire to purchase certain real estate
adjacent to currently owned City property and it is in the best
interests of the City to do so; and
WHEREAS, the current owner of said real estate does desire to
sell same to the City at terms and conditions agreeable to and in
the best interests of the City,
NOW THEREFORE, BE IT RESOLVED:
T. For a consideration of $25,000.00 the Mayor sball, on behalf
of and for the City, purchase the following described real estate:
All of Lots Five (5) and Six (6), Block Sixty-five (65)
as shown on the plat of Xalispell Original as recorded
to the records of Flathead County, Montana.
2. The conditions of said purchase are:
A. Seller will provide a warranty deed and full title
insurance to said real estate.
B. The Seller will pay all taxes on said property through
September 1974.
C. The Mayor is authorized to grant, on behalf of the City,
the Seller the right of First Refusal to Repurchase under the
following terms and conditions. -
a. All rights of first refusal are continqent upon
City selling those lots as herein described eil,one. In
the event-- that City sells the adjoininq propf�t-l:y owne(t
by City in one parcel or all. its propert�i(,., in tho
iate vicinity of the above described lots �n on( I .e porccl,
said right of first refusal is of no force and (,Af(�oi_,
being the intention of the parties that all rights of
first refusal apply solely to the City specifically
selling Lots Five (5) and Six (6) of Block Sixty-five
as above described separate from other properties.
b. In the event City sells the above described prop-
erty within seven (7) years of the date of this agreement,
the date of signing being deemed the anniversary date, D &
H COMPANY has the right of first refusal at an(1�for the suff,
of TWENTY FIVE THOUSAND AND NO/100 DOLLARS ($25,000.00)
plus costs of all improvements placed on said property by
City so long as said improvements remain on the property.
C. In the event City sells Lots Five (5) and Six (6)
between the period October 8, 1981 to October 8, 1984,
D & H COMPANY will have the right of first refusal at the
sum of THIRTY THOUSAND AND N01100 DOLLARS ($30,000.00),,
plus,costs of all improvements that remain with the
properties.
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d. In the event that City retains this property
through October 8, 1984, and this right of first
refusal is not activated by said offer to sell prior
to October 8, 1984, this right of first refusal herein.,
contemplated shall terminate, cease and become null
and void.
e. This right of first refusal as extended
through October 8, 1984 will inure to the benefit of
the heirs and assigns of the seller and shall be binding
upon all elected officials, the mayor, and city council
of the City of Kalispell for said period.
PASSED BY S TY COUNCIL OF T" KALISPELL AND APPROVED BY
'7y 0 0
THE MA THI AY OF 1974.
urence u. Biorneny,
ee,
1, tho undersigned, City Clerk of the Cl'tK of K6118"ll.
going tg a true and correct copy of the re�o�v;tlon duly
the City of Wispell, Montana, at a reVa#-.maqting on,
rtify that the fore -
the Cit Council of
� 7. 19A
ty of Kalispell,