HomeMy WebLinkAbout1993-098
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RESOLUTION NO. 93-9B
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WHEREAS, pursuant to an agreement between the City of
stillwater and Dock Cafe corporation, approved by the City on
February 2nd 1993 as Resolution No. 93-30, the City has agreed to
purchase certain real estate located on the waterfront in the City,
and,
WHEREAS, all of the conditions precedent
obligation to purchase the property as contained in
of the Agreement have been satisfied, and,
to the City
paragraph 3.01
WHEREAS, the city Attorney has examined the title binder to
the property issued by Old Republic, a National Title Insurance
Company and has found that title to the real estate is vested in
the seller, and,
WHEREAS, a closing has been set for Thursday the 27th of May
at 1:00 p.m., and it is necessary for the City to fund the purchase
and to otherwise participate in the closing;
NOW THEREFORE, BE IT RESOLVED as follows:
1. That the Mayor and Clerk are hereby authorized to execute
a check in the amount of $23,039.87 representing 32.4% of the total
expenses associated with the acquisition as follows:
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2. Payment for land $21,060.00
Conservation fees and recording fees 33.38
Survey expenses 1,459.00
Title insurance premium 232.00
Closing expenses of Old Republic Title 162.00
State Deed Tax 92.49
3. Further, that the City Attorney is authorized to appear in
behalf of the city at the closing and to execute any documents
necessary to fulfill the cities obligation at the closing and to
obtain the reasonable assurances that the Deed will be recorded and
returned to the city Clerk for safe keeping.
Enacted this 25th day of May, 1993
ATTEST:
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Mary LO? Johnson, i ty Clerk