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HomeMy WebLinkAboutOrdinances Book 12, Page 76, No Ordinance Number76 P AN ORDINANCE PROVIDING FOR THE SALE TO THE CITY OF PADUCAH MUNICIPAL HOUSING COMMISSION FOR THE SUM OF ~,,6,930.00 ALL OF THAT PROPERTY OF THE CITY OF PADUCAH WITHIN AN AREA WHICH IS BOUNDED ON THE EAST BY "C" STREET, ON THE NORTH BY TWENTY-SECOND STREET, ON THE NORTHaEST BY OHIO STREET, ON THE WEST BY TWENTY-FIFTH STREET, ON THE SOUTHEAST BY ELM STREET; AUTHORIZING THE MAYOR AND THE CITY CLERK TO EXECUTE AND DELIVER TO SAID COMMISSION A CONTRACT OF SALE FOR SAID PROPERTY; PRESCRIBING THE TERMS AND CONDITIONS TO BE CONTAINED IN SAID CONTRACT BE IT ORDAINED BY THE BOARD OF COB1,2SSIONERS OF THE CITY OF PADUCAH, KEN TJCKY: SECTION 1. That the City of Paducah in consideration of the sum of X1.00 and other valuable consideration in hand paid offer to sell to the City of Paducah Municipal Housing Commission for the sum of X6,930.00 all of that land belonging to said city within an area which is bounded on the east by "C" Street, on the north by twenty-seoond Street, on the northwest by Ohio Street, on the west by Twenty-fifth Street and on the southeast by Elm Street, and that the I,Iayor and City Clerk be, and they are hereby authorized and empowered for and on behalf of the City of Paducah to enter into, execute and deliver to said Commission an offer for the sale of said property which shall be in words and figures as follows, to -wit: "OFFER OF SALE" "In consideration of the sum of one dollar (ti?1) and other valuable con- sideration in hand paid, the receipt whereof is hereby acknowledged, the City of Paducah, hereinafter called the "seller", being the owner thereof, hereby offers and agrees to sell and convey to the City of Paducah Municipal Housing Commission, hereinafter called the "Local Authority", or its assigns or nominee the following described property, located in the City of Paducah, county of McCracken, state of Kentucky, all of that property owned by the City of Paducah within the area bounded on the east by "C" Street, the north by Twenty-second Street, on the northwest by Ohio Street, on the west by Twenty-fifth Street, on the southeast by Elm Street, which lands are more particularly described as foll ays: "Beginning at a point in the north line of the Bailey subdivision as shown by the plat of said subdivision of record in Plat Book 80, page 234, in the McCracken County Court Clerkis Office, and which point is 351.53 feet west of "C" Street measured along the south line of the Bailey subdivision; thence with the south line of the Bailey subdivision and N. 72 degrees and 31 minutes west 465 feet more or less to a point on the south line of Ohio Street, common corner to the Bailey subdivision; thence with the south line of Ohio street and in a westerly direction 183.62 feet; thence at right angles and in a southerly direction 171.25 feet; thence at right angles and in a westerly direction 100 feet; thence at right angles and in a southerly direction 171.25 feet to a point on the north line of Tennessee Street; thence along the north line of Tennessee street and in a westerly direction 35 feet, more or less, to a point in the old Brief -Beyer boundary line; thence south 4 degrees 30 minutes east and with said old boundary line 185 feet, more m less, common corner to the old B'Bryan property; thence south 72 degrees 19 minutes east and with the old O'Bryan line 508 feet; thence north 4 degrees 11 minutes west 301.8 feet; thence south 72 degrees 31 minutes east 97.6 feet; thence north 4 de;rees 35 minutes and 32 seconds west 386.45 feet to the point of beginning." 77 Being a part of the same property conveyed to the City of Paducah by deed of record in Commissioners Deed Book 11, page 230, in the McCracken County Court Clerk1s office, and being also all of that tract of land conveyed under the aforesaid deed situated south OC the south line of Ohio Street. Less and except, however,all of the lands within the above described area which is now used and dedicated as Tennessee and Tuenty-third Street. upon the following terms and conditions. The buildings and improvements upon said lands shall remain the property of the seller, and the Local Authority shall have the right and option to require the seller to remove said buildings and improvements by giving the seller notice in writing to remove the same, and said buildings and im- provements shall be removed within a period of sixty (60) days after receipt of such notice. Upon closing the seller shall convey to t -ie Local Authority or its assigns or nominee by general warranty deed a good and marketable fee- simple thereto, together with all improvements, hereditaments, and appur- tenances thereunto belonging, free and clear of all liens (except liens for currect taxes and assessments), easements, restrictions, delinquent taxes and assessments, leases and encumbrances of any kind, existing or in- choate with proper release of dower, curtesy, and waiver of homestead rights, if any, together with all of his right, title and interest in and to any streets or alleys adjoining or abutting thereon. Taxes and assessments shall be adjusted as of the time of closing. Possession shall be delivered to the Authority at the time of closing. The total purchase price shall be �J;6,930.00. All expenses of examination of title and of preparation and recording the deed shall be paid by the Local Authority. Payment of the purchase price shall be mada upon transfer of title to the Local Authority. This offer shall be irrevocable for a period of ninety (90) days from the date hereof and shall remain in force thereafter until terminated by the seller. Such termination may be effected at any time after the ex- piration of such ninety (90) day period by seller giving sixty (60) days prior written notice to the Local Authority of such termination. If this offer is accepted, the Local Authority shall endorse its acceptance hereon and mail notice thereof to the seller at the address specified below. The Local Authority shall specify the place and time of closing, which shall not be more than sixty (60) days after the date of acceptance. The seller agrees that this offer shall not be revocable and that he will not sell, mortgage, encumber, or otherwise dispose of such property or any part thereof prior to said expiration date, except to the Local Authority. This agreement shall be binding upon the seller and his heirs, executors, adminis- trators, successors and assigns. 78 Notwithstanding the prior acceptance of this offer, the Local Authority in lieu of completing the purchase of said premises may, at any time prior to closing, proceed to acquire the same by condemnation. The seller agrees, as an independent stipulation, which shall survive the expiration of ter- mination of this offer, to such condemnation upon the payment of just com- pensation, which shall be the purchase price above stated, which price the seller declares to be the fair market value of said premises, in- clusive of every interest therein. Loss or damage to the property by fire or casualty shall be at the risk of the seller until title has been conveyed to the Local Authority." SECTION 2. This ordinance shall be in full force and effect from and after its adoption. P:ayo Passed by the Board of Commissioners June 29, 1950 Recorded by 6arah Thurman, City Clerk, June 29, 1950