HomeMy WebLinkAboutApproving a Contract between City of South Bend and John & Marie Schlecht for Purchase of Certain Real Estate ORDINANCE No. 579r
Passed by the Common Council of the City of South Bend, Indiana,
i62 i al-cu_-tom 7 192f.
Attest: , /17' ' /`( ( City Clerk.
Attest: (-4. of 1 , President of Common. Council.
Presented by me to the Mayor of the City of South Bend, Indiana
Sa-� 9 192 9 .
?it' 4 > 1 aw)-de .City Clerk
Approved and signed by me Cl 2 192:
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_ /.,_ . / L . _— / % - - Mayor
ORDIti-,nCE NJ. .2 qv`
AN ORi _ _. ._ _ -
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BY 4VL BBT,..FLN ThE mij_-0iCI L2 CITY 3ZMD,
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C..[Ltil'.'dlJ ltiliii.i, C1i-.TD ltrild Gl' Y_
HEREELl, The Lunicip City of c.outh Send, Indiana, by
and thDough its Board of Public works, entered into a contract with
John Schlecht . and Marie Schiecht, husband and wife, on the day
of September, 1929, wherein said City agreed to _purchase and said
Schiecht and Schlecht, agreed to sell unto said City, certain rear:.
estate described in said contract, which contract is in words and
figures as fol' :oV , to-wit:
T 1S E.G. 0 1T, Made this 73th dcy of St ' eariber, 1929,,
between. JOHN SCELECHt and MARIE SCIi:GECfT, Ouspend and wife* of
St. Joseph County, Indiana, parties of the first part, and THE
MUNICIPAL CITY OF SOUTH k3: [ab of St. Joseph County, Indiana, party
of the second part,
WITNESS:NTH, Thot the party of the first part agrees to sell
to the party of the second part, tor and in consideration of the
cum of Ten Thousand Dollars (x, 3, 0n Je) and such
other payments
and performances a$ may be set out hereinafter, the following des
cribed rea. . estate, situate in St. Joseph Donny, Indiana, to-wit:
Lots Aumbered Twenty (23) and Twenty-one
( 1) in Jacob Miller' s ArAdition to the City of
South Bend, Indiana,
Of this consideration the sum of Two Thousand Doiiars ($2,003.00)
has been paid by the party of the second part to the party of the
first part, the receipt of which is hereby acknowledged.
As a part of the consideration the party of the second part
shall pay all taxes that may he levied or assessed against said
real estate after March l t, 1930 and all assessments for street
or sewer improvements UOV: a lion or heraaft3r :ose. ed a ..inst
said property.
Said party of the second part shali pay to the party of the
first part the bum of not :'Less than One Thousand Do:!.iars 4141.)00. 10)
on the 13th day of each month of ;elttmber theitafter, commencing
on the 18th day of September, 193G, until said consideration with
interest thereon has been fully paid, o n which b lance shall be
reckoned interest at the raye of seven percent (7;=) per annum,
payable annually, which computation shall de as follows:
Interest for one (?.) year period shall be FJacjded to the Un-
paid balance of Eight Thousand Dollars (Z3,000.GG) . on September
30th, 1930, and from said amount shall be deducted payments made
during said year, and the balance or remainder shall stand as the
new principal for the ne::.t succeeding period of one (1) year, an
which interest shall be reckoned for one (I) year and from the
amount of sai4 principal
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and interest the fell amount of payments shall be deducted, and
so continued from year to year until the said unpaid balance, with
interest, has been fully paid. Said second party may at any time
pay the full unpaid balance with interest to said date and upon such
payment shall be entitled to the deed hereinafter provided for.
It is agreed that said second party may enter into the
possession of said premises in thirty (ac) days of this date and
may erect such building, or buildings, thereon as it cay desire and
may hold, use and control the same as it may seo fit. The said first
party, however, reserves the buildings now on said premises, mach
buildings shall be removed by first party within thirty (33) days of
this date and if not so removed then second party may, upon taking
possession of the premises, appropriate said buildings to its own
use the same as if they had not been reserved hereby.
Said first party will deliver to said second party an
abstract of title brought down to this date, Mich abstract shall
show a good and merchantable title, in fee simple, in said first
party, free and clear of all liens and encumbrances excepting assess-
ments hereinabove excepted.
It is understood that time is of the essence of this con-
tract and in the event the said second party shall fail to make the
payments herein provided for promptly and at the time stipulated
therein, then on thirty (30) days written notice from first party to
second party, if such payments are not shade, said first party may
declare all prior payments forfeited to said first party as and for
liquidated damages and rental for the use and occupancy of said pre-
raises.
It is understood and agreed that said first party will
execute a good and sufficient Warranty Deed conveying said premises
to said second party, which deed together with a copy of this con-
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tract shall be left in escrow with. the �4
.,- 4. . _: of the
City of South Bend, Indiana, to be held by said company and delivered
to said second party when it has performed its obligations herein
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provided for it to do and perform and has paid the full con-
sideration for said premises, or deliver the deed back to the
first party, their heirs or assigns' in the event of forfeiture
of said second party's right to said premises as hereinabave
provided.
This agreement shall be binding upon both parties
hereto from and after the ratification of the same by the Common
Council of the said City of South Bend.
All payments Crow second part to first party shall
be made at the office of said :_ ,; : , *bleb Company
is hereby authorized by first party to accept payments for than
as made by second party and to credit the same upon its envy of
the Contracts
IN NITfSB WHEREOF, the parties hereto do hereunto
set their hands and seals, the said first parties in ti:eir in-
tividasl capacity and the said second party for and on its be-
half by the Board of public Storks of said City.
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'ARTY 0 T; RST PAM
MUNICIPAL CITY OFF SOUTH BEND, INDIANA
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I` 'i O
Ca OF PUBLIC woltsz
PARTY OF ThE SECOND PART
County of St. Joseph
,ctate. of Indiana.
0.7",. - 5
DR, CR.
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NOIL, ThEhiffutC2, 3:1 IT UhaiiNED by the Common
Council of the City of South Bend, Indiana.
ShCTION 1.
That the above and foregoing contract and agreement by
and between the thanicipa_ City of South fend, Indiana, by and
through its Board. of 2ublic Larks, and John Cchlecht and Larie
Schdecht, husband and wife, be and the same is hereby, in ail
things, ratified, confirmed and a.))roved.
SECTION 2.
This Ordinance shall be in fuHas force and effect from
and after its passage and approval by the mayor.
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