HomeMy WebLinkAbout1982-061 Option to Purchase82--00419
OPTION TO PURCHASE REAL PROPERTY
This Option entered into in Ashland, Oregon, on this __~_~_day
of January, 1982, by BARBARA PETERSON, hereinafter referred to as
"Peterson", and she does grant to the CITY OF ASHLA!'~ID, a municipal
corporation of the State of Oregon, hereinafter referred to as "Ashland",
an Option to purchase certain real property, the description of which
is contained on Exhibit "A" hereto which by this reference is incorporated
herein, and for the purchase to be on the terms and conditions herein-
after set forth:
l) P_~_yment for Option. The price is FIVE THOUSAND DOLLARS
$5,000.00) and this Option shall be effective upon Peterson receiving
Ashland's check for that sum. This $5,000.00 does not apply to the
purchase price.
2) Purchase Price. The purchase price is FOUR HUNDRED
THOUSAND DOLLARS ($400,000.00) and is to be paid in cash after the
close of escrow.
3) Term of Option. Ashland shall have the right to exercise
this Option for a period of two hundred forty (240) days from the
date hereof and the parties shall -then enter into an Earnest Money
Agreement, a copy of which is attached hereto.
4) Possession. Possession shall be given to Ashland at
the close of escrow.
~5) Notice of Election to Exercise 02tion. Notice shall be
given to P,~terson by Certified Mail at 1201 l':illcrest Road, Ashland,
Oregon 97520.
6) Title Insurance. If the Option is exercised and the
property purchased by Ashland, then Peterson agrees to supply title
insurance in the amount of the purchase price showing clear and
merchantable title in her subject to approval by Ashland of a Preliminary
Title Report which said approval shall not be unreasonably withheld.
8) Heirs and Assigns. This Agreement is binding upon the
heirs, executors and assigns of the parties hereto.
BARBARA P ET ER,60~
-1-
Option to Purchase
Real Property
RDNALD L. SALTER
ATTORNEY AT LAW
AC::HLAN~,, DREGBN 9~5gB
STATE OF ORFGON )
: SS.
County of Jackson)
January ~.__, 1982
........... Personally appeared the above named BARBARA PETERSON and
aci<nPw:l.e.~.gF, gCi3-= the foregoing
..-
" ..~t ,. ~re me'
instrument to be her voluntary act and deed.
n
My Com(n~ission expires:___~__-z//-~.~
-2-
Option to Purchase
Real Property
RnNALD L. SALTER
ATTORNI~Y AT LAW
AE~HLAND, ~REG~N 9752[3
i(NOW ALL I.it.:N BY q'ItESE I'I~i([-;I.:I.ITS, i l~at Tli);.iAS CARI)()NA and
V'[tt[~ I4. (]ARI)ONA, husband a~d v.,ffe, and C]~ARt( J. WAI.KER and
~.:'"'tAC.E D UALKER, husband and w~ re, a~d ]SAbEL CARD, hereinafter
calleo grantors, for t-he ~','~nnider~ttion horcJ~fter stated, to
grantors paid by BARBARA PETEI{SON, bereinaftel' called grantee, do
hereby, grant, bargain, sell and convey unto the said grantee and
grantee's heirs, successors a~d assigns, that certain real property,
with the tenements, hereditaments and appurtenances thereunto be-
longing or appertaining, situated in the County of .Jackson and the
St ate of Oregon, described as follows, to-wit:
A parcel of lanci situated in the Nortlneast Quarter of
Section 14, Township 3q South, Range ] East, of the
Willamette Meridian, in the County of Jackson and
State of Oregon, described as follows:
Beginning at the Hortheast corner of the'Northwest
Quarter of the Northeast Quarter of said Section 14;
~hence South 1320 feet to the Northeast corner of
property described in Volume 335, page 321, Jackson
County, Deed Recorus: thence West, 438 feet to the North-
West corner of said property and nine true point of beginning;
thence South ~o tl~ North line of Southern Pacific Rail-
road right of way linc thence t~orthwester~y along saJd
of way line to its i7. ci;se, ction with the Wes~ line of the
Nertheast QuarCer of .~d Section 14; t'hence North to the
N~rtbwest corner of .'.:- t~outhwest Quarter of the Nortbwas~
Ouarter of the North;:. ,-t Quarter of said Section 14,
said point being on Lb,~ 14ester]y right of ,..my line of
Ci,,ver Lane, uhence So~,7~easterly and Easterly along said
C~over Lane right of '~eay line to the North¥:e,u corner of
,..hat parcel ~f ]ar~d described in deed to Thomas Cardona,
et al, recorded May i7, 1977 as Document No. 77-09633,
Jackson County Records; thence South 00°09'23'' West, a
distance of 365.00 feet; thence South 89°50'~7'' East a
distance of 89.18 feet to the average centerline of a
creek, said point being in the West line of that parcel
of land describcd in contract to Jean Prade.1, et ux, re-
corded October 17 1975 as Document No. 75-1a182 Jackson
County Records; thence, South 07°40'02'' West a distance
of 45.23 feet a]ong West line of s~id Prade] parcel;
thence South 06°50'20
TM West a distance of 145.14 feet; thence
Warranty Deed
Page -1-
DAVIS. AINSWORTH & PINNOCK
leaving said average creek centerline East 622.31 feet.
to the West right of way line of In",~...r. tate "5", thence
Southe~suerly along said Interstate 5 right of way line
., 47.01 feet, more or less, to. the Nortl~ tine of that prc, per~y
. '. ' des6ribed"in Volume 335, Page 321; thence West. aJ.or~g said
'~ ' ' North~lin'e :to the true point' of beginning. '.:;~, .',. ,- :.~. v.
grantee's heirs, suhc~s~sors a~d~as~i~ns/fOl~ever, .~. "~..~'. 'fi' ~ ,.',
'~:.~- .. And s~id grantors h~reby' &oven[n~'~ tO~ and m~ii:]{~sai'd ~r~ntee
~ni'~[~rantee'.s. heirs, successors. ~and~ assigns ~',- that gra=~ors are
la~fnll .seized-in ~ce simple of"the ~J>ove granted premises free
~from all en'cum~rances~ except:: ~...;: .... .~.' ....
% ~'-The rigi~ts,of the' P~blic[, in and ~o thine portion of
-the above property lying ~itnin the limits of public roads
'~and roadways ~
'":' '~' 2..-- Regulations, water and irrigation' rigbts'a~d easements
for ditches and 'canals of ohe Talent Irrigation District.
3. ~i{ -An easement 'hreated by instrument, including the te~s
and[provisions thereof, recorded in Book 360, Page 198,
in:favo~~ o'f C~lifornia Oregon Power Company for the trans-
. .-- mission and distribution of e~ctricity,
-'~"4. An ~asemenn create'd~by instrhment~ including the te~s
and provisions thereof recorded April 25 1~962 in book 524
Q page 502 in favor of Pacific ~ower and Light for the
-~-:. transmission and distribution of electricity.
5. Limited access in deed to State'of Oregon, by and
_ : through its Department of Transportation, Highway Department,
· - which provides ~ha~ no right or easement or right of access
~..'.'~.to, from'or across the State Highway other then expressly
-.'~. ~:~ therein ~p~ovided for shall attach to the abutting property,
~ record~ January 30, 1962 in Book 165 Page 155 and January
~.:': ~ '31'~,:~1~2,:>in Book' 165~ page 192'
~created by i~strument including' the te~s
-.~. :~'~rovisions/ thereof, recorded January 3, 1972 as don~ent
~.'- [~'no ':72:00467 in~ favor of Oregon State Highway Co~ission for
~-' ~:~-. , irriga~i6n and 'drainage facilities. -
~nd that gran~0r's' Will warrant and forever defend the above granted
premises ah~/~'ev~ry~ part and parcel. 'thereof against the lawful nla~ms
.. .. .
'~' ty DAVIS, A1NSWORTH A PINNOCK
-Page' -2- .- "- ~' ..o. ~ox ~o~
':l ~- .'. · ASHLAND. OREGON 97520
aud demands of all pcrso~s wbom~-~oever, except those claimed under
above Je. cr
~ ~s ibed encumbrances,
Th.e true and ~cnua] considoration for "this transfer
One ]{un'dr'ed Forty Five Thousand ]}o!la:~s ($'!45,000.00).
6ay of
DATED this .~
STATE OF' CREGON )
)SS:
Count'y of Jackson
' Pers¢i-nally appeared the above-nerved Thomas Cardona and
acknowled%ed t:he foregoing i.nst:?ume.~t/to be his voluntary act m
and deed.~ Before Me: ~~.~.; ~ ~[ ~/~'
My Co~nission Expires ~ -~.~__~ ....
STATE OF OREGON )
- ' )SS':
· County of Jackson )
: Personally appeared the above-named Viola M. Cardona and
ac~tnowledged the 'foregoing
and deed. Before me:
instrumej~ to be his .x[oluntary act~
- ' '-'
Notary Public for .Oregon
My Commission ~xpires :~_ ~--/"
Warranty Deed
LAW O~'IC~'~ O~
DAVIS, AIN~q'~VORTH & PINNOCK
~1~ EAST MAIN ~TREET
ASHLanD. OREGON 97520
'"- STATE OF OREGON ) . .~! .._ .- . .
· . .... . SS: . . ... ~'. ~' .. ~- '
co ' ' ' :) ........
~-.,.~ , ,. . . . , . .. . .... _. ~ . . . . ,~ . ~. . . .. . : , ~ . .
· ~.-t,- ~, .'.'.: ;<'.Personal.!y_appearea tb~ 'a¢ove--named Grade D; Walker
~"~' -,.~.:,..~}d ~c~nowl'edged t'he f~egoing ins¢~/Ojnent to be'her .voluntary.
~;~,.- . ,. My Commission E>:pires :,/D-
'.'- -"STA F} O~GON --_ ".,' -, .- '"
~tu[':'~t"~?'.?'. '?"'""' "'~'':' .._:" : Personally appeare'8 the a~ov~-named isab~t ~ard"and
5nsrrum~ ro be her voluntary act
.... T .,:-''~'? , .~:.,,: .. ~. , '~ ..,. _ ~' .,
:. '-- ~' .-S&~d.,Tax-'St~atements tO:- ; -.'i,- ' :'. '
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PAP, TIES & PAY!,!ENT
RECEI\?ji',i> Ot' ....... CITY OF ;\51iLAt{D ...................................
.... FIVE Tti0i~AHD .................................. ].~OLLARS ($5,000.00
~Z~XX}~XX,~0>~Xd, property located in the /~KXcX~Xxxxxxxxxxxxxxxxxx}; Counky
of 0aokson, State of Oregon.
DL~)Ci.,IP~_ IOn ::
The description of said property is contained on Exhibit "A"
hereto which by this reference is hereby incorporated herein.
TOTAL PRICE, TERMS & IN'PEP, EST' PJUJqg:
I.~}~P~, hereinafter called "Seller",, have this day sold to the
Purcha. ser for the sum of FOUR t!UNDRED TtI01JSAND DO!,I,ARS ($400,000).~0)
on the fo]lowing terms: ~}~22D0.x:~tx~>5}ox~ Deed, ~,~}~x~){Pt:~x
Earnest Money - $5,000.00 previously received
Balance of $395,000.00 payable at close of escrow. However if the
Option betweeh the parties ~s exercised after the original 270-day
period, then the full purchase price increasas to FOUR HUHDRED THIRTY
TIIOUSAND DOLLARS ($430,000.00) and the balance at close of escrow
payable to the Seller is $425,000.00.
EVIDENCE OF' TITLE:
Seller agrees to furnish at his expense a title insurance eo.iicl
in %he amount of ~h~ purchase price showing clear and merchantab],'~ titlo
oell~r except as to the acts of the Purchaser subsequent thereto, re-
servations in Federal Patenhs, zoning ordinances, comprehensive plans and
easements ..... ~-~ sub3e~'t .... to,~pF~..,~' hi ~ .... ~~r~ ...... of a pre~
insurance report with said approval not to be unreasonably withhold and
n0 others . If such Title in-
surance Policy, or Preliminary Title Report does not show clear and mer-
chantab!e title, Seller is allowed 30 days to make it so, after notice
of such defect in writing from Purchaser.
ESCRO?[:
Seller and Purchaser agree that the subject sale will be closed
in Escrow, the cost of which shall be berne co-equally between Seller and
Purchaser.
POSSESSION:
Possession of said premises shall be tendered Purchaser on or
RDNALO L. SALTER
ATTORNL:Y 4q' LAYV
-1- Earnest Mone~ Receipt ~.o. nox ~=,
Ti:~e_ property is to 1~(.~ c(;r~ve, yec3 b7 good [:~d sufficient deed,
in reference to dn.e ?i.t-te t]-isnrallce POI_Fi_Ob,.
PRO-.RA?F, 'PA){!SS, t}{SUP,?xSCiE, ETC.:
i~S~}~SSI~i~ st}al 1 ))e pro-rated between Line P~rchase2~ a~]d Se].ler as of
close of escrow
FOR1}'E ITURE:
If Purchaser neglect, s o2: refu~.:c:s to con,ply with any of the
ter]:~m and c(:)r~dJtioi)s hereof, or t:o make p~.,mo,~to }'>ro2~pt]v as h
fort]), or o-hher~.~ise dolau].t~ 5_1~ itl}is agrec, nc:',-h, the said
shall be =-'zo.~ feihecl ~---~u Se~zer'' a~3 ilquS.daec:d da~rtages and this Contract
shall he ef ne further binding effect.
RIGFI' TO SPNCEFIC PERI.?OR~.IA~qCE:
If the Seller neg]ectfs, refuses or fails to cemply with
the terms and conditions of tinls - '~
._ ag}~ce~a~7., then the Purchaser shall
the right te require the Seller to specifically perferm ~his agreeme~-:-h.
RISR OF LOSS ASSUHED BY S!]LLER:
The risk o_{ loss or c'ld,~a.~ to .... ~n_d premises or property
fire or okher casualty, until possession is tendered to the Purchaser,
is assumed by Seller.
In the event any monies or documents are deposited in
with Ronald L. Salter, Aqterney at Law, as Escrow.: Agent, said Escro;e
Agcn~ shall not be reqt:ired te determine any contreversy arJsinc
the parties hereto, or take any actien in the premises, but may avait
settlement of said conhreversy by final appropriate legal proceedinos, cr
othez74ise, and in no event shall he he liable for inkerest, damages o:7
o~her loss, or for anything except gross negligence or willful misce:2ducw.
FURT!-IER PROVISIONS:
l) This sale is subject to the land being annexed to the City of
Ashland and its zone changed to M-1 Industrial or comparable zone
in the City of Ashland. Ashland will do all things and pay alt
costs and fees relative to the annexation and zone change process.
If the land is not annexed and the zone changed as'set forth herein,
then this Agreement is tern]inated and the Earnest Money shall be
refunded to Ashland, however, the payments made pursuant to the Option
shall not be refunded to the City of Ashland. The Seller agrees to
cooperate and assist in the annexation and zone change process and
to sign all documents reasonably necessary to proce'ss such application.
-2- Earnest !,!oney Receipt
RBNALD L. SALTER
ATTORNEY AT LAVV
ASHLAND, []REDAN 97520
~?.~:~hi.s sale is for a].]. cash, tho balance due to
wi].l bc paid hhrou~ ......... ~ ~ ........ ~---~{s a col]ec~iou
o ~ - r ~ ~ ' ' . ' . r.,~.~.~._~-..~T~~- ---'. , r,t~--.~.~a.~ ~..~ .- ~ c · 1~ - - ~ o
~5~Ji!~r. 7'he monthly oh. argo will_ be paid by
COSTS UPON PAILURE OF SALE:
It is ackno,..zl~dged ~he~ if this transaction is not completed
for any reason, includir}g failure te ebqaJn a ]_oa}~ er failure ef any othe?
contingency, certain charge.~3 will lhave been ii, cuffed such as, but not
limited to, attorney's fees, escrow fees, ti-hle report fees, city lien
seard~ fees, and ethers and it is ac.)reod that ~chosc c]~arges will be paid
one-half by Seller and eno-half by Purchasers unless otherwise agreed
upon herein.
ATTORNEY -.- R~P]LESI!'.NTATiON:
........ e_._. ~. .... :~.~ l,?.A~id ~. ,_,~:~ihor .-~s 'hhe attorney for
City 0f Ashland and that the other parties to t.l~is
transaction have the right to consult with an attorney of their own chOjc]~
before signJ, ng this ~a .... m~nt and wi~h %his to be at their own e>n>ens~
A'i'TONNE¥' S FBES:
In case of suit or action to enforce any rights or conditions
of this Agreement and upon any appeal tea higher court, it is mu-kuallv
agreed that the prevailing party in such suit or action 'shall be entitled
to a reasonable att. orney's fee as determined hy the court as against the
losing part'}.' therein.
Dated at Ashland, Oregon, this
SELLERS:
day of_ Jan_uary___., 19 82
--B-A-RI%r(R-A--FE T E R S 0 N
ACCEPTANCE
I/We, Purchasers, here by agree to purchase said property for
the p~-i .... apd upon ='~ .... '~ .... ' ~ -
L~:~2 terR!s ~.~'¢Li RI(iYi%l_Oii~2~ ~ll~ ~ ~ ~
........ ~a~ agree eo the con
ditions of forfeiture and all ehher conditions herein expressed.
Dated at Ashland, Oregon, ~his_.?'~' day Of %24k~7c_c~.~_~_~, 19 ~g--.
CITY OF ASHLAND, a mun~c~pa~ corporatio~
(
-3- Earnest Money Receipt
RI3NALD L. BALTER
ATTO.r-',~NEY AT LAW
ASHLAND, DREBDN 975211