E. D23443.PDF

Maricopa County Department of Transportation
Purchase Agreement and Escrow Instructions
Tide Company Security Title Agency Date 5/9/18
Address 4722 North 24th Street, Suite 200 Phone 602-230-6271
City Phoenix, Arizona 85016 Fax 602-926-0452
Bianca.gonzales@
Escrow Officer Bianca Gonzales Email securitytitle.com
Escrow No. 15170512-015-BG
Grantor: Suburban Land Reserve Inc., a Utah corporation
Contact Danny Owen Phone: 801-321-7533
Mailing Address: 79 South Main Street, Suite 500 Email owend@sIreserve.com
City, State Zip Salt Lake City, Utah 84111 Fax:
Grantee: Maricopa County, a political subdivision of the State of Arizona
Mailing Address: I Real Estate Department, 2801 W. Durango Street, Phoenix, Arizona 85009
MARICOPA COUNTY shall pay directly to the Grantor, or deposit Charges and Disbursements to be paid from Grantor's funds as follows
with the Tide Company if escrowed, the purchase price plus all lawful (check all that apply):
costs incidental to closing as follows:
I
Escrow Fees I=1 Total Acquisition of Grantor's Property: Full release of all
Title Policy Fees monetary liens and encumbrances, and leases of any kind.
Pay in full all due and delinquent real property taxes and
general and special improvement assessments. Prorate the
Total Escrow & Title Fees current year's real property taxes on closings that occur on or
after the 3rd Monday of August each year. Escrow Agent
Recording Fees: shall withhold the prorated amounts from each party and pay
Deed the lien of the current year's taxes in full.
Easement I I
Mortgage Release ... Partial Acquisition of Grantor's Property: Partial release of all
Release of Lease monetary liens and encumbrances, and leases of any kind.
At the discretion of Maricopa County, pay due and delinquent
Total Recording Fees property taxes and general and special improvement
assessments, including full payment of taxes and
Other Charges; assessments on individual assessor parcels within
Release Fees Maricopa County's partial acquisition, and any Certificate(s)
S.R.V.W.U.A. of Purchase. The current year's taxes shall not be prorated
Taxes - Prorated regardless of the closing date.
17. Easement(s): Consent to easement(s) by secured party(ies).
Total Other Charges I
• Other Disbursements: I
Sub Total
Title Report Credit
Land* $152,945.00 Possession date:
Drainage Easement $38,415.00 Close of escrow:
TCE 501-06-008B $40,675.00 Date of recording:
TCE 501-41-008A $2,950.00
Special Conditions Right of Way Contract Yes I No •
Exhibit "B"
Total Closing Costs Entry Agreement Yes • No •
Total Purchase Price $234,985.00 Addendum attached hereto and made a Yes • No El
TOTAL WARRANT** part hereof
*Escrow and title policy fees based on this amount only.
**Sum of "Total Closing Costs" and "Total Purchase Price" only.
Project: Olive AlreilliC (SR303 to Satival Avenue) PCN: '1'1'0561
Assessor Parcel No.: 501-41-004A and 501-06-008B Item No D23443
Right of Way Agent: Jennifer Rodriguez Telephone # 602-506-4897
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The GRANTOR, having executed a conveyance of certain real property rights to the GRANTEE as described in the Exhibit(s) attached hereto and
made a part hereof, and having delivered same to the above Title Company as Escrow Agent, said agent is directed to deliver said conveyance to
MARICOPA COUNTY, title to said property to be transferred upon execution of the conveyance by the MARICOPA COUNTY BOARD OF
SUPERVISORS. The Escrow Agent shall first apply the purchase price on deposit to satisfy such taxes, Deed of Trusts, leasehold interests, special assessments, and other
encumbrances as may be authorized for payment, and the balance thereof shall be paid in accordance with the terms herein.
Instructions to Escrow Agent: Deposit all escrowed funds in escrow account and disburse same by check; pay encumbrances in accordance with this agreement; prorate all
agreed items; record such escrowed instruments as are necessary Or proper in the issuance of title insurance; and pay the balance of the escrowed funds to the party or parties
entitled thereto. It is further understood and agreed that the Tide Company shall not be responsible for any liens or encumbrances not of record at the closing of escrow.
The Right of Way Agent or MARICOPA COUNTY Real Estate Department will be furnished a copy of the Grantor's closing statement with the following certification
signed by an authorized officer: "This is to certify this is a true and correct statement of disbursement of funds collected from MARICOPA COUNTY."
The Escrow Agent is to request the Grantor acknowledge receipt of the amount shown on the closing statement as clue Grantor. Either a copy of this request or a copy of a
signed receipt is to be retained in the escrow file.
Marieopa County will pay the costs of the owner's title insurance policy; fees associated with lender releases or loan pay-offs, including endorsements, document preparation,
and other expenses related thereto; escrow fees and other charges by escrow companies incidental to the closing of escrow. In the alternative, Maricopa County may, at its
option, waive escrow and/or title insurance. Upon such waiver, the references to Title Company, Escrow Agent and title insurance herein are not applicable.
This transaction is being handled through Security Tide Agency and all efforts will be made to ensure payment is made within 90 days after agreement is signed by all parties
including the MARICOPA COUNTY BOARD OF SUPERVISORS. Grantor understands that all efforts to close this transaction within ninety 90 days of signing this
Agreement will be made. Failure to not close within 90 days does not constitute Breach of Contract
It is understood and agreed the consideration expressed herein is accepted by the Grantor as full and complete compensation for the interest being acquired. If the
acquisition is a partial acquisition from a larger parcel, the consideration also includes; full and complete compensation for all injury or damage to the Grantor's remaining
lands by reason of their severance From the part being acquired and the construction of the improvements in the manner proposed by MARICOPA COUNTY.
MARICOPA COUNTY shall be responsible to the extent that damage occurs out of MARICOPA COUNTY's occupation of the Grantor's property caused by MAR1COPA
COUNTY's negligence, or by the negligent acts or conduct of its agents, employees, or contractors during the term of MARTCOPA COUNTY's temporary occupancy of the
property. All claims shall he submitted in accordance with the requirements of ARS 12-821.
It is further agreed settlement is being made in lieu of condemnation, and therefore not admissible as evidence of value, nor for any other evidentiary purpose, in conjunction
with any judicial or administrative proceeding.
GRANTOR: RECOMMENDED FOR APPROVAL: ACCEPTED AND APPROVED:
Suburban Land Reserve Inc., a
Utah corporation MARICOPA COUNTY DEPARTMENT MARICOPA COUNTY BOARD OF
OF TRANSPORTATION SUPERVISORS
., 4,&t. /
BY
...41.1LeeZ....._
ail -4 At, 1... Real Property 14 . nager Chairman of the Board
ITS
_.Zb A I PEST:
Date
Approved as to form within the
powers and authority of the Board of Clerk of the Board of Supervisors
1 Supervisors
Accepted te .
T-,:scso citi-01'4,
*, Deputy County Attorney Date Date
RES/KGR Revised 2/3/2017
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EXHIBIT "B"
RIGHT OF WAY AGREEMENT
Parcel No.: 501-41-004A and 501-06-00813
Project No.: TT0561
Project Name: Olive Avenue
Project Termini: (SR 303L to Sarival Avenue)
Item No.: D23443 OR)
WHEREAS in consideration hereinafter set forth, it is agreed that this instrument contains the entire agreement between
the Grantor and Maricopa County. No further consideration is being paid than described in this agreement.
THE COUNTY OF MARICOPA AGREES:
A. To use the real property described herein for the general welfare and benefit of the public.
13. To pay the Grantors the sum of One Hundred Fifty Two Thousand Nine Hundred Forty Five and No/100
Dollars ($152,945.00) as payment in full for the real property described herein.
C. To pay the Grantors the sum of Thirty Eight Thousand Four Hundred Fifteen and No/100 Dollars
($38,415.00) as payment in full for the Drainage Easement,
D. To pay the Grantors the sum of Forty Thousand Six Hundred Seventy Five and No/100 Dollars ($40,675.00) as
payment in full for the first Temporary Construction Easement (501-06-008B) on the property described herein.
E. To pay the Grantors the sum of Two Thousand Nine Hundred Fifty and No/100 Dollars ($2,950.00) as
payment in full for the second Temporary Construction Easement (501-41-008A) on the property described herein,
F. That, if in the opinion of the Transportation Director it becomes necessary, private structures will be relocated in kind
to the Grantor's property, clear of the property described herein, at no expense to the Grantor except as may be
herein otherwise agreed.
G. That no costs relating to construction of roadway improvements on Project No. TT0561 will be charged to the
Grantor.
THE GRANTORS AGREE:
1, To grant a Special Warranty Deed for the real property described in Exhibit "A" to the County of Maricopa for the
general welfare and benefit of the public.
2. To accept the sum of One Hundred Fifty Two Thousand Nine Hundred Forty Five and No/100 Dollars
($152,945.00) as payment in full for the property described herein.
3, To accept the sum of Thirty Eight Thousand Four Hundred Fifteen and No/100 Dollars ($38,415.00) as
payment in full for the Drainage Easement on the property described herein,
4, To accept the sum of Forty Thousand Six Hundred Seventy Five and No/100 Dollars ($40,675.00) as payment
in full for the first Temporary Construction Easement (501-06-008B) on the property described herein.
5. To accept the sum of Two Thousand Nine Hundred Fifty and No/100 Dollars ($2,950.00) as payment in full for
the second Temporary Construction Easement (501-41-008A) on the property described herein.
6. That the County, or its agents, is hereby granted the right to enter upon the remaining property of the Grantor for the
purpose of accomplishing "F" above.
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