HomeMy WebLinkAboutA002 - Option to purchase real estate, east half OPTION TO PURCHASE REAL ESTATE
KNOW ALL MEN BY THESE PRESENTS: that Erben A. Hunziker, Dean E. Hunziker,
and Robert W. Shirk, hereinafter called SELLERS, for and in consideration of the
sum of ONE AND NO/100 DOLLARS ($1.00), receipt of which is hereby acknowledged, do
hereby grant unto Charles Blabolil, hereinafter called BUYER, the exclusive right
and option to purchase, upon the terms and conditions hereinafter set forth, the
following described real estate situated in Story County, State of Iowa, to-wit:
The East Half of the East Half of the Northeast Quarter of the
Northeast Quarter (E 1/2 E 1/2 NE 1/4 NE 1/4) of Section Fifteen
(15) , Township Eighty-three (83) North, Range Twenty-four (24)
West of the 5th P.M. , Story County, Iowa, subject to streets and
roads.
If the Buyer elects to exercise this option, the Buyer, at his expense, will
provide a certified survey including corner stakes set and a correct legal
description made.
1. OPTION PERIOD. This option shall be effective as of the date of the
execution of this instrument and shall continue in full force and effect for a
period of one hundred and twenty days thereafter.
2. TOTAL PURCHASE PRICE for said property shall be the sum of FIFTY EIGHT
THOUSAND SIX HUNDRED AND N0/100 DOLLARS ($58,600.00), which sum Buyer agrees to
pay to Sellers as follows: (a) credit of ONE AND N0/100 DOLLARS ($1.00) for the
consideration paid for this option; (b) the balance of FIFTY EIGHT THOUSAND FIVE
HUNDRED NINETY-NINE AND N0/100 DOLLARS ($58,599.00) in cash upon acceptance of
title, but in no event later than 30 days after the Abstract of Title has been
brought to date showing merchantable title and delivered to Buyer.
3. NOTICE. The option granted herein shall be exercisable by the giving of
written notice thereof to any one of Sellers, personally or by U.S, mail addressed
to Sellers at 803 - 24th Street, Ames, Iowa.
4. POSSESSION. Sellers shall give Buyer possession of said property upon
exercise of this option or March 1 , 1977 whichever date occurs last, subject to
tenants lease.
5. TAXES AND ASSESSMENTS. That Sellers agree to pay all of the regular taxes
against the said real estate up to and including the taxes for the calendar year 1976,
being the last half of the billing for FY 1975-76, and the first half of the billing
for FY 1976-77, and Buyers agree to pay all taxes thereafter as they become due and
before delinquency. Seller agrees to pay assessment #24368 as it pertains to this
property. All subsequent special assessments are to be paid by Buyer.
6. ABSTRACT. Upon the exercise of this option or at Buyers request, Sellers
shall forthwith deliver to.-Buyer for his examination an Abstract of Title to said
property continued to date of the exercise of said option.
7. DEED. Upon payment of all sums owing by Buyer to Seller by virtue of this
option and the exercise thereof, Sellers shall contemporaneously execute and deliver
to Buyer a Warranty Deed to said property with documentary stamps affixed thereto in
the amount required by law. Buyer agrees that Sellers may deliver title through a
third party.
Initial
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8. This option shall be null and void unless the Buyer has previously
exercised an option on the folloiwng described property:
The W2 of the E2 of the NEk of the NEk of Sec. Fifteen (15), Twp.
Eighty-three (83) N, Range Twenty-four (24) W of the 5th P.M. ,
Story County, Iowa, subject to streets yd roads.
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9. It is further agreed that the Buye attempt to rezone this
property during the option period.
Signed at /_1V'�K� this J L_'day of 197r
Erben A. Hunziker Charles Alabofil
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Dear-/E. Hunziker
Robert W. Shirk
SELLERS BUYERS