2008-05-15 James Anderson South 225 Feet in Tax Lot 244Guaranty and Agreement of Mutual Obligations between Gateway
Development Corporation and the City of Blair, Nebraska Under
Real Estate Purchase Agreement
In consideration of, and as an inducement for entering into the Purchase
Agreement for real estate which is attached hereto as Exhibit A and fully incorporated
herein by reference, and for other good and valuable consideration, the receipt and
sufficiency of which is acknowledged and understood, Guarantor/Obligor guarantees to
perform and meet all duties and obligations contained in said Purchase Agreement that
are to be performed by Gateway Development Corporation, Beneficiary/Obligor but not
limited to, the payment of any amounts due under the aforementioned Purchase
Agreement. This is a guaranty of payment and Guarantor's liability is primary and not
secondary. The obligations under this Agreement begin immediately and continue until
terminated by Guarantor. This Guaranty shall apply to all necessary terms of the
Purchase Agreement. The liability under this Agreement shall continue in full force and
effect notwithstanding bankruptcy of any of the parties or the release or discharge
(whether by agreement or operation of law) of any of the parties. As part of this
Agreement, Gateway Development agrees and acknowledges that the real estate
identified in the attached Purchase Agreement shall be transferred and/or conveyed by
Warranty Deed to the City of Blair upon the written request of the City of Blair. Further,
Gateway Development Corporation shall not transfer, sell, convey or dispose of the
real estate identified in Exhibit A in any way without the written consent of the City of
Blair, Nebraska.
IN WITNESS WHEREOF, the undersigned have executed this Agreement.
GUARANTOR/OBLIGO
M S E. RE ; Cott lair
State of Nebraska )
ss.
County of Washington )
I the undersigned, a notary public in and for said county in said state, hereby
certify that before me personally appeared, James E. Realph, whose name(s) is signed
to the foregoing instrument, and who is/are known to me, to be satisfactorily proven to
be the person(s) who executed on behalf of the City of Blair, Nebraska the foregoing
guaranty and acknowledged before me on this day that, being informed of the contents
of said instrument, that he executed the same voluntarily on the same date.
Given under my hand and official seal this _~ day of May, 2008.
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I' - ~ n~tyComrn,[xp,June20,20a8 Notary Public
--- - -
BENEFICIARY/OBLIGOR:
og~r~hristianson, President and
ut~iorized Representative of
Gateway Development Corporation
State of Nebraska )
ss.
County of Washington )
I the undersigned, a notary public in and for said county in said state, hereby
certify that before me personally appeared, Roger Christianson, President and
authorized representative of Gateway Development Corporation, whose name(s) is
signed to the foregoing instrument, and who is/are known to me, to be satisfactorily
proven to be the person(s) who executed on behalf of Gateway Development
Corporations the foregoing guaranty and acknowledged before me on this day that,
being informed of the contents of said instrument, that he executed the same voluntarily
on the same date.
Given under m hand and official seal this ~
y IJ- day of May, 2008.
Notary Public
GENERAL NOTARY - state of Nebraska
~~~S~X d. ~~~~3N7~
...... ~ _ , M~ Comm. Crp. Juno ~C, 2C(~8
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PURCHASE AGREEMENT -Real Estate
May , 2008
This Purchase Agreement made and entered into by and between James O.
Anderson Trust, by James Anderson Trustee, hereinafter referred to as "Seller" and
Gateway Development, a nonprofit corporation, 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.
The South 225 feet in Tax Lot 244 in Section 14, T18N, R11 E of the 6t" P.M.
containing 6.8 acres more or less situated in Washington County, Nebraska.
(b) Personal Property. There in no personal property included in this sale.
2. Purchase Price and Terms of Payment. The purchase price for the aforesaid
described real estate is One Hundred Fifty Three Thousand and no/100 Dollars
($153,000.00) for the like kind exchange of a substitute parcel of real estate of like value as
agreed upon by the Buyer and Seller. A material part of the consideration to the Seller is
that the Seller has the option to qualify this transaction as part of a tax deferred exchange
under Section 1031 of the Internal Revenue Code. To affect an exchange, Seller may
assign this Purcha greement to a qualified exchange intermediary of Seller's choice. If
the Seller elects to complete a tax deferred exchange, then prior to the closing, Buyer shall
receive notice of the assignment of this Purchase Agreement by the Sellerto the exchange
intermediary, and Buyer hereby consents to and agrees to accept any such assignment.
The Buyer agrees to cooperate with the Seller in completing any tax deferred exchange.
Further, Seller will not be responsible for any liability for costs or delays to the Buyer that
may occur as a result of Seller deciding to enter into a tax deferred exchange.
(a) Earnest Money Deposit when Purchase Agreement is Signed.
An amount of Fifteen Thousand and no/100 dollars ($15,000.00) shall be
paid upon the signing of this Purchase Agreement as an earnest money
deposit by Buyer; and said earnest deposit check shall be paid into the
escrow account of Blair Abstract and Title Company for the benefit of Seller
and at the time of closing shall be credited towards the balance of the
purchase price.
(b) Additional Earnest Money. When the required easements for the relocation
of the gas pipeline and the grading work necessary for said is signed an
additional payment of Fifteen Thousand and no/100 dollars ($15,000.00) will
be paid into the escrow account of Blair Abstract and Title Company for the
benefit of Seller. The total Thirty Thousand and no/100 dollars ($30,000.00)
plus accrued interest will be credited to Buyer at closing.
3. Conveyance of Title. Seller shall furnish a current title insurance commitment to
purchaser 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 purchaser may rescind this
agreement and the deposit shall be refunded. The approximate closing date shall be April
15, 2009 or sooner with 30 days notice as agreed upon by the parties and the possession
date shall be the closing date.
4. Leases. Seller shall terminate any leases on the property prior to closing, unless
otherwise agreed upon herein.
5. Survey. Seller shall grant Buyer access to survey the subject property. 100% of
the cost of the survey will be at Buyer's expense.
6. Access. Buyer shall provide Seller unlimited access to any road constructed on
the subject property from the southeasterly corner of Seller's retained property.
7. New Fence. Buyer and Seller acknowledge and agree that a new fence shall be
constructed on the new boundary. Material and labor cost shall be at the Buyer's expense.
8. Escrow Closing. Buyer and Seller acknowledge and understand that the closing
of the sale may be handled by an Escrow Agent. Escrow Agent identified is Blair Abstract
and Title Company and the charges of said Escrow Agent shall be divided equally between
Buyer and Seller.
9. 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 10 of this Purchase Agreement.
(b) Protective Covenants, Easements and Other Restrictions of Record. Seller
represents that there are no Protective covenants, easements and other
restrictions of record; and
(c) Other. None
10. General Real Estate Taxes. Real estate taxes for 2007 and prior years shall be
paid by Seller. Real estate taxes for 2008 and all real estate taxes due up to the date of
possession shall be prorated to the date of possession. (Basis for the proration shall be
the most recent real estate tax statement.) The Buyer shall pay all general real estate
taxes after the closing date, and all subsequent taxes.
11. "Greenbelt" recapture. Buyer shall be responsible for the payment of any and
all additional real estate taxes or so-called "green belt" recapture taxes, plus interest
thereon, that may result from the real estate's disqualification for special valuation as
provided in Neb. Rev. Stat. 17-1343, et. seq.
12. Possession. Seller shall have exclusive possession of the above-described real
estate until the 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.
13. Insurance. Any risk of loss to the real estate shall be borne by the Seller until
title has been conveyed to the Purchaser.
14. Personal Inspection . This offer is based upon Buyer personal inspection and
investigation of the real estate and not upon any representations orwarranties of condition
by Seller or it's agents. The Buyer represents to Seller that Buyer know, have examined
and have investigated to the full satisfaction of Buyer, the physical nature and condition of
the property.
15. 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. The cost of the escrow closing agent
shall be divided equally between the parties.
16. Binding Effect. This Agreement shall be binding upon and inure to the benefit
of the parties, their heirs, or representatives.
J MES O. ANDERSON TRUST,
Y JAMES O. ANDERSON TRUSTEE, Seller
STATE OF NEBRASKA )
ss.
COUNTY OF WASHINGTON )
The foregoing instrument was acknowledged before me on this ~ day of May,
208, by James O. Anderson, Trustee for the James O. Anderson Trust.
GENERAL NOTARY - State of Nebraska // ~ ~f
~ CAHOLFRAHM Notary Public
My Comm, Exp. Oo4.11, 2011
STATE OF NEBRASKA )
ss.
COUNTY OF WASHINGTON )
The foregoing instrument was acknowledged before me on this ~J~' day of May,
2008, by, Roger Christianson, President and authorized representative of Gateway
Development Corporation.
Notary Public
GEV~RAL hJ~TARY - State of Nebraska
;~ ~~~t~~ J. ~t~AHflA
........ ........ My comm. Ea~p. June 20, 20C+g
Receipt and Acknowledgment
The undersigned acknowledges receipt of Fifteen Thousand and No/100's
Dollars ($15,000.00) earnest deposit as provided herein which has been paid to Seller.
ames O. Anderson Trust, By James O.
Anderson Trustee, Seller