HomeMy WebLinkAbout16- Memorandum of Agreement - William H. and Betty Anne Sippel Trust - Oak Street Roadway Improvements so PROJECT NAME: OAK STREET
CITY OF BOZEMAN ROADWAY IMPROVEMENTS
N Engineering Division
* *7 PROJECT#: 4524.11402.05
Public Works Department
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MEMORANDUM OF AGREEMENT
MEMORANDUM OF AGREEMENT
AGREEMENT has been reached this 29"4 day of Sc _�," 2016, between William
H. Sippel and Lauri Ann Sippel, as Co-Trustees of the WILLIAM AND BETTY ANNE SIPPEL TRUST,
dated April 25, 1995, the owner(s) of Tract 4 of Certificate of Survey recorded in Film 13, Page 166, and
described as follows: A tract of land in the West half of the West half of the Southwest Quarter
(W'/2W'/SW%4) of Section Two (2), Township Two (2), South, Range Five (5) East, Montana Principal
Meridian, Gallatin County, Montana, and described as follows: Beginning at a point on the West line of
Section Two (2), which point bears North 01°36'27" East along said West line a distance of 1324.28 feet
from the Section corner common to Sections 2, 3, 10 and 11; Thence North 01 036'27" East along said
West line a distance of 1325.26 feet to the one-quarter corner common to Sections Two (2) and Three
(3); Thence North 89045'11" East along the North line of said Southwest Quarter (SWY4), a distance of
329.63 feet; Thence South 01°35'26" West, a distance of 1325.13 feet; Thence South 89044'00" West, a
distance of 330.00 feet to the point of beginning, hereinafter "seller(s)" and the CITY OF BOZEMAN
hereinafter "Purchaser' for the purchase of said property interest(s). The amount to be paid and other
considerations to be given in full satisfaction of this Agreement are as follows:
Warranty Deed (Parcel 7): $ 764,600
Full Fee Acquisition: 10.03* (acres)
*See Figure 1 attached
Other Conditions:
1. Taxes and Special Assessments, if any, delinquent from former years, and Taxes and Special
Assessments for the current year, if due and/or payable, shall be paid by the seller or sellers.
2. This Memorandum embodies the whole Agreement between the parties hereto as it pertains to
the real estate, and there are no promises, terms, conditions or obligations referring to the subject
matter hereof, other than as contained herein.
3. The seller(s) hereby agree(s) that the compensation herein provided to be paid includes full
compensation for their interest and the interests of their life tenants, remaindermen, reversioners,
liens and lessees, and any and all other legal and equitable interest that are or may be
outstanding and said seller(s) agree(s) to discharge the same.
4. THIS AGREEMENT shall be deemed a CONTRACT extending to and binding upon the parties
hereto and upon the respective heirs, devisees, executors, administrators, legal representative,
successors and assigns of the parties, only when the same shall have been approved by the City
Manager on behalf of the Public Works Department.
5. The property transfer shall be effective upon acceptance by Purchaser, evidenced by the execution
of this Agreement by the CITY OF BOZEMAN and payment of the purchase price.
6. The Purchaser agrees to preserve existing trees, open spaces, and irrigation ditch on the property to
the best of their ability with the future Oak Street and Fowler Lane roadway improvement projects.
Of the total amount of compensation hereinabove agreed upon, the sum of $764,600 shall be paid upon
execution and delivery of a good and sufficient: ® Warranty Deed, ❑ Public Use Easement, and the
balance of the compensation, amounting to $ 0.00 shall be paid upon compliance by the seller(s) with the
terms hereof.
CITY OF BOZEMAN PROJECT NAME:OAK STREET ROADWAY IMPROVEMENTS Parcel 7
PROJECT*4524.11402.05 Page 1 of 3
Disbursement of funds will be made in the following manner:
Seller(s) Amount of Payment
William H.And Betty Anne Sippel Trust $764,600
The Sellers)certify that there are no known hazardous materials on the property.
The terms of this Agreement are understood and assented to by us and payment is to be made in
accordance with the above.
WILLIAM H. AND BETTY ANNE SIPPEL TRUST
Date.
Nahf,e:William H. Sippel
Title: Co-Trustee
Date:
N me: Lauri Ann Sip el
Tit: Co-Trustee
CITY OF BOZEMAN
Date:
Bv: Chris Kukulski
City Manager
ATTEST:
•
jw
- - Date: �•/_/'I �
Bv: Robin Croug
City Clerk
CITY OF BOZEMAN PROJECT NAME:OAK STREET ROADWAY IMPROVEMENTS Parcel 7
PROJECT#:4524.11402.05 Page 2 of 3
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Current Owner: SEC. 2, T2S, R5E
William H. Sippel and Lauri
Ann Sippel, Co-Trustees
under the William H. and
Betty Anne Sippel Trust .'
Tract 4 TBD :
Bozeman, MT 59718
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R/W LEGEND �^ _
® EXISTING EASEMENT. 4
FULL FEE ACQUISITION OF PARCEL w�..
---- EXISTING ROW LINE �1-':
--- EXISTING EASEMENT
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