Agreement to Purchase Real Property with Betty Thierhause for Generations PlazaAGREEMENT TO PURCHASE REAL PROPERTY
PARTIES: 1. City of Meridian / Buyer
2. Betty Thierhause / Seller
THIS AGREEMENT TO PURCHASE REAL PROPERTY (this
"Agreement"), is made and entered into this day of
1999, by and between CITY OF MERIDIAN, a municipal rporation of the
State of Idaho, hereafter called "MERIDIAN", and BETTY THIERHAUSE,
hereinafter called "THIERHAUSE". whose address is 3567 North Dalton
Lane, Boise, Idaho 83704.
1.
RECITALS:
1.1 WHEREAS, Betty Thierhause is the owner of the
Thierhause Real Property, hereinafter described, which
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abuts the Meridian real property to the north and east,
which has been developed by Meridian as Generations
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Plaza Park; and
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1.2 WHEREAS, the City of Meridian is desirous of obtaining
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the Thierhause Real Property to enable the City to expand
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the Generations Plaza Park; and
1.3 WHEREAS, Betty Thierhause is willing to sell and
transfer her right of title and interest in and to the
Thierhause Real Property to the City of Meridian for the
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sum of hereinafter stated, upon the condition that the City
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of Meridian use, develop and occupy said property as a
park/plaza for public purposes, which the City of Meridian
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agrees to as a condition of transfer; and
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1.4 WHEREAS, Betty Thierhause is willing to transfer the
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Thierhause Real Property for the sum of FORTY FIVE
THOUSAND AND NO/100ths DOLLARS ($45,000.00)
for the purchase of the Real Property, and the
reimbursement for the appraisal fee in the amount of ONE
THOUSAND FIVE HUNDRED AND NO/100ths
DOLLARS ($1,500.00) with the understanding that the
City of Meridian is a qualified organization under 26
USCS § 170(c) (1) [Internal Revenue Code], and that she
will seek to file a Form 8283, Noncash Charitable
AGREEMENT TO PURCHASE REAL PROPERTY
CITY OF MERIDIAN AND BETTY THIERHAUSE - I
Contributions, with the Internal Revenue Service for the
purpose of claiming a charitable deduction for the
difference in the actual value of the Real Property and the
sales price herein provided for, and the City of Meridian
agrees to complete any portion of said form required of it
to assist the filing of the same as requested by Betty
Thierhause.
NOW, THEREFORE, in consideration of the covenants and
conditions set forth herein, the parties agree as follows:
2. INCORPORATION OF RECITALS: That the above recitals
are contractual and binding and are incorporated herein as if set forth in full.
3. DEFINITIONS: For all purposes of this Agreement the
following words, terms, and phrases herein contained in this section shall be
defined and interpreted as herein provided for, unless the clear context of the
presentation of the same requires otherwise:
3.1 "CLOSING": means and refers to the date upon which
this transaction shall be completed at the "Closing Agent"
which is scheduled for the 3rd day of November, 1999.
3.2 "CLOSING AGENT": means and refers to White,
Peterson, Pruss, Morrow &. Gigray, P.A., attorneys at law
at their offices at 200 East Carlton Avenue, Suite 31,
Meridian, Idaho 83642.
3.3 "MERIDIAN": means and refers to the City of Meridian,
a party to this Agreement, which is a municipal
Corporation and government subdivision of the state of
Idaho, organized and existing by virtue of law of the State
of Idaho, whose address is 33 East Idaho Avenue,
Meridian, Idaho 83642.
3.4 "REAL PROPERTY": means and refers to that certain
parcel of "Property" located in the County of Ada, City of
Meridian as described in Exhibit "A", attached hereto and
by this reference incorporated herein as if set forth at
length.
AGREEMENT TO PURCHASE REAL PROPERTY
CITY OF MERIDIAN AND BETTY THIERHAUSE - 2
3.5 "THIERHAUSE": means and refers to Betty Thierhause,
whose address is 3567 North Dalton Lane, Boise, Idaho
83704, the party transferring said "Real Property".
4. TERMS OF SALE:
4.1 WHEREAS, "Thierhause" is the sole owner, in law and/or
equity, of certain tract of land in the County of Ada, State
of Idaho, described in Exhibit A, which is attached hereto
and by this reference incorporated herein as if set forth in
full, herein after referred to as the "Real Property"; and
4.2 WHEREAS, "Thierhause" shall transfer, at "Closing", good
and sufficient legal title of the "Thierhause" "Real
Property" by Warranty Deed to "Meridian", subject to and
upon the condition that "Meridian" will use, develop and
occupy said property as a park/plaza for public purposes;
and
4.3 "Meridian" shall pay, at closing, the sum of FORTY FIVE
THOUSAND AND NO/100ths DOLLARS ($45,000.00)
for the purchase of the Real Property, and the
reimbursement for the appraisal fee in the amount of ONE
THOUSAND FIVE HUNDRED AND NO/ 100ths
DOLLARS ($1,500.00) to "Thierhause" as for
consideration for the transfer of the "Thierhause" "Real
Property"; and
4.4 "Meridian" shall pay for all "Closing Costs" and title
insurance of the "Closing Agent" for the closing of this
matter; and
4.5 "Thierhause" shall pay all taxes and assessments pro rated
to the date of closing on the "Thierhause" "Real Property"
and "Meridian" shall assume and pay all taxes and
assessments subsequent to the date of closing.
5. EFFECTIVE DATE OF AGREEMENT: This agreement shall be
effective on the date the Meridian City Council shall adopt the amendment to
the Meridian Zoning Ordinance in connection with the annexation and zoning
of the "Property" and execution of the Mayor and City Cleric.
AGREEMENT TO PURCHASE REAL PROPERTY
CITY OF MERIDIAN AND BETTY THIERHAUSE - 3
ACKNOWLEDGMENTS
IN WITNESS WHEREOF, the parties have herein executed this
agreement and Made it effective as hereinabove provided.
Attest:
CITY CLERK9,
BY RESOLUTION NO._Zf—�;'
SELLER
BY:Z J. 4 '
B THIERHAUSE
CITY OF MERIDIAN
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&OR ROBERT D. CORRIE
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AGREEMENT TO PURCHASE REAL PROPERTY
CITY OF MERIDIAN AND BETTY THIERHAUSE - 4
STATE OF IDAHO
ss
COUNTY OF ADA)
n his da of , in the year 1999, before
me, l a Notary Public, personally appeared Betty
Thierhause, kno o identified to me to be the person who executed the
instrument and acknowledge to me having executed the same.
Notary Pu isVr Io
;Y �_ _ •. Commission expir s:
,:
STATE OF IDAHO 1
:ss
County of Ada )
On this day of , in the year/�?1
before me, a Notary Public, personally appeared Robert D. Corrie and William
G. Berg, know or identified to me to be the Mayor and Cleric, respectively, of the
City of Meridian, who executed the instrument or the person that executed the
instrument of behalf of said City, and acknowledged to me that such City
executed the same.
Notary Publicf�f Id;
Commission e ares:
AGREEMENT TO PURCHASE REAL PROPERTY
CITY OF MERIDIAN AND BETTY THIERHAUSE - 5
EXHIBIT A
Legal Description
The North Half of Lots 1 and 2, and all of Lot 3 in Block S
of THE AMENDED PLAT OF THE ORIGINAL TOWNSITE
OF MERIDIAN, according to the Official Plat thereof, filed
in Book 1 of Plats at Page(s) 30, records of Ada County,
Idaho.
AGREEMENT TO PURCHASE REAL PROPERTY
CITY OF MERIDIAN AND BETTY THIERHAUSE - 6