BILL 3758 ORDINANCE _____

AN ORDINANCE AUTHORIZING THE SALE OF REAL ESTATE BY THE CITY OF WEST PLAINS, MISSOURI, A MUNICIPAL CORPORATION, TO RKL CONSTRUCTION COMPANY, INC. (Lincoln Street)

WHEREAS, RKL Construction Company expressed a desire to purchase real estate located on Lincoln Street and further described in Exhibit A attached; and

WHEREAS, the City of West Plains does not see a need for this real estate now or in the future.

NOW, THEREFORE, BE IT RESOLVED by the City Council of West Plains, Missouri, as follows:

Section 1: REAL ESTATE TO BE CONVEYED. That in accordance with the terms of this resolution, the Mayor and City Clerk of the City of West Plains, Missouri, are authorized to execute the attached real estate contract conveying to RKL Construction Co., Inc. the described real estate located in the City of West Plains, Howell County, Missouri.

Section 2: This resolution shall be in full force and effect as of the date of its passage.

PASSED AND APPROVED this 25th day of March 2002.

CITY OF WEST PLAINS, MISSOURI

(SEAL) BY: _______________________

Joe Paul Evans, Mayor

ATTEST: ___________________________

Connie Shelton, City Clerk

REAL ESTATE CONTRACT

THIS CONTRACT made and entered into this ____ day of March 2002, by and between THE CITY OF WEST PLAINS, MISSOURI, a municipal corporation, referred to as SELLER, and KUTTER & ASSOCIATES, INC., a Missouri corporation, referred to as BUYER.

WITNESSETH:

WHEREAS, SELLER is desirous of selling and BUYER is desirous of buying in its present condition the following described real estate located in Howell County, State of Missouri, to wit:

A part of the Southwest Quarter of Section 21, Township 24 North, Range 8 West, more particularly described as follows:

All of Lot 2 in Block 9 in Tolers Subdivision as recorded in Plat Book D at Page 91 of the records of Howell County, Missouri.

Also a part of Lot 1 in Block 9 of said Tolers Subdivision described as beginning at the northeast corner, thence West a distance of 53 feet, thence South a distance of 97 feet, thence East a distance of 53 feet, thence North a distance of 97 feet to the point of beginning.

Also that part of the platted alley adjacent to the East side of the above-described part of Lot 1 in Block 9 of said Tolers Subdivision.

1. PRICE AND MANNER OF PAYMENT. The total purchase price is Nine Thousand Dollars ($9,000.00), which BUYER agrees to pay in full at closing.

2. CLEAN UP. BUYER shall acquire title to the property as is, and agrees to be responsible for all necessary cleanup including, but not limited to, removal of salvage and debris.

3. TITLE INSURANCE. If BUYER desires to obtain owner’s title insurance on the above-described real estate, BUYER shall be responsible for obtaining such title insurance. The charge for any owner’s title insurance policy will be paid by BUYER.

4. DEFECTS IN TITLE. At SELLER'S expense, SELLER shall have any defects noted in any Commitment for Title Insurance removed or corrected without delay. In the event SELLER elects not to correct such defects in title, this contract shall be null and void, unless BUYER elects to waive such objections on delivery, and if any money is deposited it shall be returned to BUYER. It is understood and agreed that the title herein required to be furnished by SELLER is one marketable in fact as these words are developed or defined in Title Standard 4 of the Missouri Bar. It is also agreed that any encumbrance or defect in the title which is of the type or comes within the scope of any of the Title Standards of the Missouri Bar shall not constitute a valid objection on the part of BUYER provided SELLER furnishes the affidavits or other title papers, if any, described in the applicable Standard.

5. TAXES. BUYER will be responsible for the payment of all real estate taxes, which become due and payable after the closing date.

6. CLOSING DATE. If SELLER has marketable fee simple title to said property, SELLER shall deliver to BUYER, on or before thirty (30) days from the date of this Contract, at the City Hall in West Plains, Missouri, or such other location as agreed upon between the parties, a general warranty deed, properly executed and conveying said property free and clear of all liens and encumbrances whatsoever. BUYER shall take possession upon the closing of this Contract.

7. CLOSING COSTS. SELLER will be responsible for the charges for preparing the real estate contract and deed. BUYER will be responsible for the cost of any title insurance and any other expenses incurred by it in connection with the closing.

8. LIQUIDATED DAMAGES. If SELLER has kept their part of this Contract, and BUYER fails to comply with the Contract on their part as provided within ten (10) days thereafter, then BUYER shall reimburse SELLER for any expenses actually incurred by SELLER, it being agreed that actual damages are difficult if not impossible to ascertain. This paragraph shall not waive or in any way affect SELLER'S right to specifically enforce the terms of this Contract. Time is of the essence of this Contract.

9. BUYER'S REMEDIES. If BUYER has kept their part of the agreement and SELLER fails to comply with the agreement with respect to any obligation of SELLER, then BUYER may, at their option, elect one of the following:

A. BUYER may give SELLER written notice of BUYER'S intention to terminate this agreement in its entirety on a date specified, which date shall not be earlier than five days after such notice is given, and if the events or circumstances creating or giving rise to any such failure to comply have not been rectified by that date, then this agreement shall terminate; or

B. BUYER may take such other actions as are available at law or in equity, including but not limited to, specific performance. In either event, any DEPOSIT shall be returned to BUYER upon demand.

10. This Contract shall be binding upon the heirs administrators, successors and assigns of the parties hereto, but this Contract cannot be assigned without the prior written consent of the SELLER.

11. This agreement may be executed in counterparts, all of which together constitute one agreement. This contract may be executed by facsimile, which is considered an original signature.

12. All documents and papers referred to herein to be delivered to Cantrell & Oberzalek, Attorneys, P.O. Box 1030, Mountain View, Missouri, 65548, phone number (417) 934‑2226.

IN WITNESS WHEREOF, said parties hereunto subscribed their names.

CITY OF WEST PLAINS, MISSOURI KUTTER & ASSOCIATES, INC.

_________________________________ _______________________________

By: Joe Paul Evans, Mayor, Seller By: Buyer