Resolutions-2008- 08

OFFER TO BUY REAL ESTATE AND ACCEPTANCE TO: JOHNSON COUNTY, IOWA, Sellers: 1. REAL ESTATE DESCRIPTION. The Buyers offer to buy real estate in Johnson County, Iowa, described as follows: Certain property located in Tiffin, Iowa, that is informally known as the "County Shed Property," and contains approximately 1.377 acres, more or less, and is bounded on the north side by Railroad Street and on the south side by the trackage of the Iowa Interstate Railroad, subject to easements and restrictions, with the exact legal description to be approved by the attorney for the Buyer, along with any easements and appurtenant servient estates, but subject to the following: a. any zoning and other ordinances; b. any covenants of record; c. any easements of record for public utilities, roads and highways designated the Real Estate; provided Buyers, on possession, are permitted to make the following use of the Real Estate: public property. 2. PRICE. The purchase price shall be $160,000.00, payable at Johnson County, Iowa, as follows: $160,000.00 at the time of closing. 3. REAL ESTATE TAXES. N/A A. SELLERS shall pay all real estate taxes that are due and payable as of the date of possession and constitute a lien upon this property, including any unpaid real estate taxes for prior years. B. SELLERS shall pay their prorated share, based upon the date of possession, of the real estate taxes for the fiscal year in which possession is given (ending June 30, 2008) due and payable in the subsequent fiscal year (commencing July 1, 2008). BUYERS shall be given a credit for such proration at closing (unless this agreement is for an installment contract) based upon the last known actual net real estate taxes payable according to public record. However, if such taxes are based upon a partial assessment of the present property improvements or a changed tax classification as of the date of possession, such proration shall be based on the current millage rate, the assessed value; legislative tax rollbacks and real estate-tax exemptions that will actually be applicable as shown by the Assessor's Records on the date of possession. 4. SPECIAL ASSESSMENTS. a. Sellers shall pay all special assessments which are a lien on the Real Estate as of the date of acceptance of this offer. b. All other special assessments shall be paid by Buyers. 5. RISK OF LOSS AND INSURANCE. Risk of loss prior to Seller's delivery of possession of the Real Estate to Buyers shall be as follows: All risk of loss shall remain with Sellers until possession of the Real Estate shall be delivered to Buyers. 6. CARE AND MAINTENANCE. The Real Estate shall be preserved in its present condition and delivered intact at the time possession is delivered to Buyers, provided, however, if 5.a. is stricken and there is loss or destruction of all or any part of the Real Estate