8.10 Sell Housing Authority Dwelling CITY OF SALINA
REQU ES T FOR COMM I S S I ON ACT I ON DATE T I ME
03/21/94 4:00 P.M.
AGENDA SECTION: Administration ORIGINATING DEPARTMENT: APPROVED FOR
N0. 8 City Manager AGENDA:
NO.
10 BY: Dennis M. Kissin~er BY: ~
Item:
Resolutions authorizing the sale of certain dwelling units as requested by the Salina
Housing Authority.
Baekg'~ound:
This is a request from the Salina Housing Authority for approval of tl~e sale of two
houses from our Public Housing Projects, KS16-038-002 and 003 to tenants, under the
Homeownership Program. The first house is 908 Custer. The buyers are Dobb and
Trudy Morton, who have been tenants since 1988. The sale price is $42,500. The
basic first mortgage obligation is $26,000.
The second house is 324 Maple. The buyers are George and Deborah McNabb, who
have been tenants since 1984. The sale price is $36,800. The first mortgtage obligation
is $29,440.
Recommendation:
Adopt Resolutions No. 94-4714 and No. 94-4715 , authorizing the Mayor to execute the
contracts of sale and deeds in favor of the respective purchasers.
Attachments
COhlM I SS ION. ACTI ON
MOTION BY SECOND BY
TO:
I
approval or ~nlS sale;
i This/4 a legally Oink/lng contract. II not understood, ~/~ competent advice.
AGREEMENT FOR SALE OF REAL ESTATE
OF ~ CI~ OF SALZNA of SALINE ~un~, Stlte o{ ~.
S~, ~
of SALINE
WI~E~,
m~e ~ ~e 9Wer u himinl~er s~fied, the ~ller here~ Ig~ to Mil unto ~e BWer the fol~wlng d~cdbed re~ e~te litult~Jn
and to convey merchantable title to the above described real esters to the Buyer by General Werre~ty Deed wi~ ~n ab~ra~ of title, ca,ifad to -
da~ ~owtng g~ mer~le title or an Ow~m Poll~ gl ~tle In,u~ in the ~ount o~ the ~e pdt. guareni~lng s~d title to ~yer.
Ir~ ~d clear ot ail encumbren~s exMpt Instilling. Il ~y. of s~ll ~men~ nol yet due. ,nd
subject, howe~r, to ail r~tdctions and e~men~ of record ~piying to ~is prope~. It being understood that the Seller shall have sulfiCient
time to bring ~d abstract to date or obmin Re~ ~or Title In~r~ ~nd to ~rmct ~y iron,actions in the title if there ~ such Im~dec~ons.
~at the 8wer here~ ~venan~ ~d agre~ to pay the sum of (S42 ~500) FOR~-~O THOUSAND FIVE HUND~D ~
Dollar, watch ~ount the ~Jler here~ aQrees
~o a~p[ ~ the fuji pur~ price of the a~ove ~Mc~bed mai astete, to ~ paid In the manner fo;lowing:, ~
42~ Ooll~re, pai~ at this time as earner m~ney
to SALINA HOUSIN~ AUTHORITY ~~who ic~owled9~ re. apt ther~f, to De held bY'Said
WE~ until the te~ of this ag~ment ire ;ufftlled, au~ ~ount ~en to apply on the pur~e prl~: the balance of the pur~ ~ri~
whJ~ IS FOR~-~ THOUSAND
Dollar. Is to ~ paid ~ fo,o~:
$75.00 CASH, FIRST ~RTGAGE IN FAVOR OF SECURITY SAVINGS BANK IN THE AMOUNT OF $26,000,
BA~CE INCLUDING CLOSING COSTS AND ESCROW ACCOUNTS IN A SECOND MORTGAGE IN FAVOR OF
THE HOUSING AUTHORITY OF THE CI~ OF SALINA. IN ACCO~CE WITH THE HOUSING AUTHORITY;
SE~ION 5(h) HO~OWNERSHIP PROG~M DATED NOVE~ER ~, 1991 ~VISED ~RCH 27, 1992.
That the texss and ~t~_~_~ments for 19 93 anda~~pr~~rye~reshai~bepaidbySe~~er~A~~t~xeeandspeciaiassessmentsf~rtheca~ef~dar
year in which po~_~e_(_-ion is delivered shall be pro-rated between the Seller and the Buyer. as of date ol possession. If the amounl of any suc~ tax
to be pro-rated cannot then be a~certained, pro-ration 8hall be computed on the amount thereof for the preceding year.
That Buyer has Inspected properly. Including the fixtures thereon, and accepts the same In Its present condition and fitness for contemplated
uss. except: SUBJECT TO A TERMITE INSPECTION.
That sale closing shall be NO LATER THAN APRIL 1, 1994
That poseaseion she~l be given IMMEDIATELY UPON CLOSING.
That the deed end/or other pabers of transfer are to be executed at once by the Seller and placed in escrow
until the transaction is completed according to this agreemem. I~d that all further payments except for deferred mortgage payments, ln~ur~ed
or assumed, ere to be through. SECUTIRY SAVINGS BANK
Thaf the partiss to this contract mutually agree to and do authorize SECURITY SAVINGS BANK
ESCROW AGE.__N_T ~ to secure a{{ the information necessary, to secure or have prepared{ ali
pepa~ neCesaary, end to dO ail or to have done ail that may be necessary or appropriate to comp{ate this agreement in accordance with {o~a{
practice: and said parties agree to pay the costs of such, each in h{s own proportion or share ss follows:
SELLER 100%
That any losses insurable by a fire and extended coverage insurance policy shall be the responsibility of the Seller until title is delivered
Seller agrees that proceeds of any insurance claims, payable or incurred from the date of this agreement to the date of possession, shall be us~d
to repair such damage or applied to reduce total purchase price.
That If either Seller or Buyer shall fail to pedorm the coverts of this Agreement. the other shall have the option to declare this Agreem4~nt
to be null.and void or. in the alternative, such paiD/may require the specific pedormance of this Agreement and recover damages resulting fromm
the failure to So perform. If Buyer shall fail to perform. Seller may retain the earneel money paid to apply on Seller's damages.
That If the Se,ar cannot deliver title as agreed, the earnest money paid by the Buyer shall be returned to said Buyer and hie contract c~ncellqd.
It is hereby agreed that time is the essence of this contract, and ail payments must be made promptly in accordance with the twrns here{)f.
If is mutually agreed that all the covenants'and agreements herein contained shall extend to and be obligeto~/upon the heirs, executors.
and aclministrator~ end assigns of the respective parties hereto.
IN WITNESS WHEREOF. The parties of these presents have hereunto set their hancis, this day of .19 9z+ i'-
Ss[let: HOUSING AUTHORITY OF THE CITY OF SALINA Buyer:
BY: }tAYOR
Receipt Is hereby acknowledged by
D check ;[][cash for earnest money in the sum of $ z. 25.00
This/~ a legally binding contraGL Il not understood, seek combatant advice.
AGREEMENT FOR SALE OF REAL ESTATE
~Sx~T.~thl~ 21st ~o~ March ,~9 94 ~ The Housin~ Authorit~
of the City of Saline et Saline ~,Stm~of~n~,
S~LL~d Georae & Deborah McNabb i '
o~ ~al i ne ~u.~, ~m of ~, BUY~.
~ ~~, ~I In ~der~ of the ~1~o~ ~m ~n~, ~d ~ ~e m~ ~de he.f, Il any, ~d ~he pmy~n~ t~ ~
m~ ~ ~e B~r M hlmin~er I~i~d, the ~l~r he~ ~ to ~11 unto the BWIr the roll.lng d~ ri/.~to, aitua~ In
~a] i ne Count, S~ of ~ t~lt:
Addition to the City of Safina
Co.only Known as 324 ~p]e 5treat
and to convey merchantable title to the above described real estate to the Buyer by Ganera~ Warranty Deed with an abstract of title, certified to
date showing good merchazttable title or In Owners Policy o! Title Insurance in the amount of the sale price, guaranteeing ~d title to Buyer,
free and clear of all encumbrances except Installments, If any, of special ~'.sessmants not yet due, and
subject, however, to all restrictions and easements of record ~oplying to this properly, it being understood that the Seller shall have sufficient
time to bring said abstract to date or obtain Report for Title Insurance end tO correct any imperfections in the title if there be such imperfectiotn$.
That the Buyer hereby covenants and agrees to pay the sum of Th i rt;y S i x Thousand
golfers, which amount the Seller hereby agrees
to accept as the full purchase price of the above described real. estate, to be paid in the manner Iollowingr
TW9 Thousand Four Hundred Ninety Nine (2,499) Dollere, peldatthietlmeasearnestmo~ley
to ,Salina Housinq AuthoritJ/ . :el3~al~l,tijllllX. whoeckJlowtsdgesreceiptthersof, to be held by S~lid
IIJ~:~¥until the terms of this agreement are fulfilled, such amount then to ap~yqn the pur~e price; the balance of the purchase price
whichla Thirty Four Thousand Three Hundred One (34,3 1}
Dollars, la to be paid es follow~:
First Mortgage in favor of Sunflower Bank in the amount of $29,400:,
Balance including closing costs and escrow accounts in a second mortgage in
favor of The Housing Authority of the City of Saline. In accordance with the
Housing Authority; Section 5th) Homeownership Program dated November 4, 1991
revised March 27, 1992.
That the taxes and essas-<ments for 19 93 and ail prior years shall De paid by Seller. All taxes and special assessments for the calen~lar
year in which Ix~_~se_~_~ion is deiiverad si'tail be pro-rated behvesn the Seller and the Buyer, as of data of possession. If the amount of any such tjx
to be pro-rated cannot then be ascertained, pro-ration shall be computed on the amount thereof for the preceding year.
That Buyer..haJHospe;. tef:lpropeGy, Including the fixtures.thereon and accepts the same in its present condition and fitness for contemp~ted
use, except: ~UD.leCT ~:O a termite inspection '
Thateaiecloslngshailbe. NO later than APril 1. 1994
That poaseesion shail be given Immediate uoon closinq.
That the deed and/or other papers et transfer era to be exec~tsd at once by the Seller end pieced in escrow together with the earnest mor~ey
until tho transaction ia completed according to this agreement, and that ail further payments except for delerrad mortgage payments, Incur~d
or assumed, ara to be through Sunflower Bank
That the p~rtias to this contract mutually agree to and do authorize Sunfl ewer Bank
Escrow Agent ~ral~+, to secure ail the Information necessary, to secure or have prepared~ll
papers neces.t, my, and to do ail or to have done ail that may be necessary or appropriate tO complete this agreement in accordance with Ideal
practice: and said parties agree to pay the costs el such, each In his own proportion or share as follows:
Seller 100%
Thai any losses insurable by a fire and extended coverage insurance policy shall be the responsibility of the Seller until title ia delivered
Seller agrees that proceeds el any insurance claims, payable or incurred from the date of this agreement to the date of possession, shall be used
to repair such damage or applied lo reduce total purchase price.
That If either Seller or Buyer shall tail to perform tho covenants of this Agreement, tho other shall have tho option to declare this Agreement
to I~ null.and void or. in the alternative, such patty may require II~e specilic performance et this Agreement and recover damages resulting fr~m
the failure to so perform. Il Buyer shall fail to perfon'n, Seller may retain the earnest money paid to apply on Seller's damages.
That if the Seller cannot deliver title as agreed, the earnest money paid by the Buyer shall De returned to said Buyer end his contract ca~celli~d.
Il is hereby agreed that time is Ina essence el this contract, and all payments must be made promptly in accordance with the teens herecf.
It is mutually agreed that all the covenants and agreements herein contained shall extend to and be oDligatory upon the heirs, executo(e.
and ac~ministrators ancl a.$signs of the respective parties hereto.
tN WITN ESS WH ER EOF, The parties of these presents have hereunto set their hancls, this day of .19.~.~
Seller: Housina Authority of the City of
Sa l ina
By: Mayor
Receipt Is hereby acknowledged by
[] check [Dcash for earnest money In the sum of $ ~ ,4C~,~ ,