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BLAIR AIRPORT AUTHORITY DATE 12/29/09 TWO RIVERS STATE BANK lou
BLAIR, NEBRASKA 1049
218 S. 16TH ST.
BLAIR, NEBRASKA 68008 AMOUNT
. (402) 426-4191
$l3
PAY TO.
CHAIRMAN p LE
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REAL ESTATE PURCHASE AGREEMENT
December 29, 2009
This Purchase Agreement made and entered into by and between Kenneth C.
Schatz and Susan M. Ihle, both single individuals hereinafter referred to as Seller and the
City of Blair, Blair Airport Authority, hereinafter referred to as Buyer.
Now, therefore, in consideration of the mutual covenants contained herein and for
other good and valuable consideration, the parties hereby agree as follows:
1. Sale. That Seller hereby agrees to sell and the Buyer hereby agrees to purchase
at the price and on the terms hereinafter set forth, the following described real estate:
(a) Legal Description of Real Estate.
Tax Lot 52, Section 30, Township17 North, Range 12 East, containing
approximately 16.01 acres plus or minus as situated in Washington County, Nebraska.
(b) Personal Property. There is no personal property included in this sale.
2. Purchase Price and Terms of Payment. The purchase price for the aforesaid
described real estate is Two Hundred Sixty Six Thousand and no/100 Dollars
($266,000.00) cash.
(a) Earnest Money Deposit when Purchase Agreement is Signed.
An amount of Thirteen Thousand Three Hundred and no/100 dollars
($13,300.00) shall be paid upon the signing of this Purchase Agreement as
an earnest money deposit by Buyer; and said earnest deposit check shall be
cashed by the Seller and at the time of closing shall be credited towards the
balance of the purchase price.
3. Conveyance of Title and Title Insurance. Seller shall furnish a current title
insurance commitment to buyer within seven (7) days from the date of the acceptance of
this offer. Objections to title, if any, shall be presented to the Seller within seven (7) days
thereafter. The closing shall occur on or about the agreed upon date, or within seven (7)
days after all title objections have been cured by the Seller, whichever date is later. If any
title defects objected to are not cured Within a reasonable time period, the Buyer may
rescind this agreement and the deposit shall be refunded. The cost of the Title Insurance
shall be split fifty- fifty (50/50) by the Buyer and Seller with Sellers portion not to exceed
Two Hundred Fifty dollars ($250). The approximate closing date shall be January 22,
2010, but no later than February 15, 2010 unless agreed upon by the parties in writing and
the possession date shall be the closing date. If the closing occurs after February 15, 2010
as a result of Buyers conduct the Buyer shall pay interest to the seller at a rate of seven
point eight percent (7.8%) per annum on the total purchase price until the date of closing.
M
4. Leases. Seller shall terminate any leases on the real estate in question prior to
closing and Seller shall obtain a certified statement from the current tenant indicating that
the land was solely used for agricultural purposes during the time Seller owned the
property and said certified statement shall be provided to the Buyers at time of closing.
5. Escrow Closing. Buyer and Seller acknowledge and understand that the closing
of the sale maybe handled by an Escrow Agent. The Escrow Agent shall be Blair Abstract
and Title Company and the charges of said Escrow Agent shall be paid by Buyer.
6. Warranty Deed. Upon payment by the Buyer to Seller of the purchase price of
the real estate purchased, Seller shall cause to be conveyed to Buyer marketable fee
simple title to said real estate described hereinabove, by general Warranty Deed free and
clear of all liens and encumbrances, except for the following:
(a) General Real Estate Taxes. Real estate taxes due and payable as provided
in Paragraph 7 of this Purchase Agreement.
(b) Protective Covenants Easements and Other Restrictions of Record.
Protective covenants, easements and other restrictions are limited to those
of record; and
(c) - Other. None
7. General Real Estate Taxes. Real estate taxes for 2009 and all years prior shall
be paid by Seller. Real estate taxes for 2010 and all real estate taxes due up to the date of
closing shall be prorated to the date of closing to be paid by Seller. (Basis for the proration
shall be the most recent real estate tax statement.) The Buyer shall be responsible for all
general real estate taxes after the closing date.
8. Possession. Seller shall have exclusive possession of the above-described real
estate until date of closing. Any risk of loss to the property shall be borne by the Seller until
title has been conveyed to Buyer.
Buyers shall assume all risk of loss from and after date of closing.
9. Liability Insurance. Any risk of loss to the Property shall be borne by the Seller
until title has been conveyed to the Buyer.
10. Personal] nspection . This offer is based upon Buyer personal inspection and
investigation of the premises and not upon any representations or warranties of condition
by Seller or it's agents. The Buyer represents to Seller that Buyer has examined and has
investigated to the full satisfaction ,of Buyer, the physical nature and condition of the
property.
11. Other Terms of Agreement.
(a) Seller shall pay all documentary stamps as a result of the sale.
(b) The parties agree and understand that the real estate closing shall be
performed by an escrow closing agent indicated above. The cost of the
escrow closing agent shall be paid by the Buyer.
12. Bindinq Effect. This Agreement shall be binding upon and inure to the benefit
of the parties, their heirs, or representatives.
By
Rodne4
Attest;
CIZ-oam- City Clerk
STATE OF NEBRASKA )
) ss.
COUNTY OF WASHINGTON )
ity
rity, Buyer
rport Manager
The foregoing instrument was acknowledged before -me on this day of
20 C°l, by Rodney A. Storm City Administrator/Airport Manager, Blair,
Nebraska.
K d l tjjfitA
Notary Public
ppTARY - s of
„W-) Comm, Exp 17, 2012
M�
KENNETH C.SCHATZ, A Single Person
SUSAN M. IHLE, A Single Person
STATE OF NEBRASKA
) ss.
COUNTY OF WASHINGTON )
The foregoing instrument was acknowledged before me on this day of
p-cth�-b-e,- , 20 Cal, by Kenneth C. Schatz, Susan M. Ihle both of whom are single
persons.
�
Notary Public
Receipt and Acknowledgment
The undersigned acknowledges receipt of Thirteen Thousand Three Hundred
and No/100's Dollars ($13,300.00) earnest deposit as provided herein which has been
paid to Seller.
Kenneth C. Schatz, 8eller,