R2022-38 Resolution Authorizing Real Estate Agreement-Angle Court

Home Browse Search

I See Plat of Property prepared by Survey Solutions attached as Exhibit A. 3. Buyer shall pay$500.00 as earnest money to by held by Macon County Title,LLC,as Escrow Agent. Buyer shall be entitled to a refund of the earnest money so held at Settlement. 4. Buyer shall obtain a commitment for an owner's title insurance policy insuring against defects in the merchantability of title up to the value of the purchase price set forth above. Title insurance shall show that there shall be no financing statements on file affecting fixtures included in the purchase. Title may be subject to coal and mineral rights if now reserved or conveyed of record and to all easements and building and use restrictions now of record which do not restrict reasonable Use. Buyer shall promptly advise City of any claimed defects in title evidence to permit resolution before Settlement. Buyer shall pay the all title fees. Buyer and City shall furnish immediately upon request all information legally required for financing or transfer of title. 5. Buyer shall pay City the balance of the purchase price at the office of Title Company or Lender,on or upon mutual agreement before April 0,2022,which event is referred to herein as"Settlement". The escrow and closing fees for Settlement shall be paid by Buyer. 6. At Settlement,City shall deliver to Buyer a quitclaim deed to the Property, subject only to those matters to which the title may be subject as provided in paragraph 3 above,and conveying the benefits of all easements of record prior to the execution of this Agreement,if any,in such form and together with such documentation as shall be required for recording said deed. City shall also furnish Buyer,at Settlement,all documentation necessary to protect Buyer from mechanic's liens. Buyer agrees to pay for the transfer tax stamps,if any applicable,the preparation of the deed by an attorney and real estate transfer declaration form and any environmental disclosure requirement documents. Buyer agrees to pay for the cost of recording with the Recorder of Deeds any of the documents necessary to complete the transfer of ownership. 7. Buyer shall be responsible for all Real Estate Taxes accruing subsequent to Settlement date. 8. Buyer shall be entitled to possession of the Property immediately after Settlement. 9. No notices,suits or judgments relating to the Property have been received by the City except:None. 10.The Property is part of a proposed Preliminary Plat development known as Brooks Meadow Park 3'd Addition attached as Exhibit B,wherein the Buyer currently owns the property on either side of the Property. This Agreement is subject to the approval of the Preliminary Plat Subdivision by the City. 11.The property is adjacent to Lake Decatur which necessitates certain regulations to ensure Lake Decatur shoreline protection.The Buyer agrees to follow the regulations contained in Chapter 66 of the City Code: Regulation of Lake Decatur and to the following shoreline protection regulations: a. Buyer shall obtain a permit from the City for all non-passive recreational uses of the lake's shoreline on the Property including,but not limited to,docks,piers,ramps,stairs,pavement, structures,or shoreline stabilization. b. Where topographically and environmentally possible,the Buyer shall maintain a vegetation buffer on the Property with a minimum width of 25 feet beginning at the high water mark along the entire length of the development's shoreline. c. Prior to the issuance of any building permits for new single family home construction on Lots One(1),Two(2)or Three(3)of the proposed Brook's Meadow Park P Addition,shoreline 2