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ORDINANCE NO. O24-34
AN ORDINANCE OF THE COUNCIL OF THE CITY OF
GLENDALE,
MARICOPA
COUNTY,
ARIZONA,
AUTHORIZING THE OPTION TO SELL REAL ESTATE BY
THE
CITY
TO
COURTHOUSE
LLC
LOCATED
AT
APPROXIMATELY 4701 W GLENDALE AVENUE, PARCEL
NO. APN 146-18-063, DIRECTING THE CITY MANAGER TO
EXECUTE ALL NECESSARY DOCUMENTS FOR THE SALE
AND DIRECTING THE CITY CLERK TO RECORD A
CERTIFIED COPY OF THIS ORDINANCE.
WHEREAS, it is in the public interest for the City of Glendale to sell the real property
described in this ordinance; and
WHEREAS, The City Clerk of the City of Glendale has caused a notice for sale of this
property to be published in the Arizona Republic on August 28, 2024 and September 4, 2024 and
posted at the Glendale City Hall for twelve (12) consecutive days as required by the Glendale City
Code, Section 2-167.
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GLENDALE as follows:
SECTION 1. The City Manager of the City of Glendale is authorized and directed to enter
into the attached Purchase Agreement with COURTHOUSE LLC and execute the necessary
documents to complete the sale of the property described in Exhibit “A” attached to this ordinance
and incorporated by reference, to COURTHOUSE LLC.
SECTION 2. That the duly authorized officers of the City of Glendale are authorized and
directed to receive all sums necessary for the sale of such real property in accordance with the
Purchase Agreement, as well as other costs necessary for the sale of such real property.
SECTION 3. That the provisions of this ordinance shall become effective thirty (30) days
after passage of this ordinance by the Glendale City Council.
[Signatures on the following page]
PASSED, ADOPTED AND APPROVED by the Mayor and Council of the City of
Glendale, Maricopa County, Arizona, this 10th day of September, 2024.
Mayor Jerry P. Weiers
ATTEST:
Julie K. Bower, City Clerk (SEAL)
APPROVED AS TO FORM:
Michael D. Bailey, City Attorney
REVIEWED BY:
Kevin R. Phelps, City Manager
PURCHASE AND SALE AGREEMENT
THIS PURCHASE AND SALE AGREEMENT (this "Agreement") is made and
entered into as of the Effective Date (as defined below) by and between the CITY OF GLENDALE,
an Arizona municipal corporation ("Seller"), and COURTHOUSE LLC, an Arizona limited
liability company ("Purchaser").
WHEREAS, Seller has the right to sell, lease, exchange or otherwise dispose of its
property for the best interests of the Seller. The Seller shall determine the best interests of the Sell
er and such determination shall be final.
The Seller has determined that the sale of the
Property will be in the best interests of the Seller (Glendale City Charter, Article 1, Section 3;
Glendale City Code, Section 2-166).
WHEREAS, the notice for sale of this property has been made in a newspaper of general
circulation in the City of Glendale for two (2) consecutive weeks and posted at the Glendale City
Hall, 5850 W. Glendale Avenue, Glendale, Arizona 85301 for twelve (12) consecutive days
(Glendale City Code, Section 2-167).
WHEREAS, Seller desires to sell and Purchaser desires to purchase, upon the terms and
conditions hereinafter set forth, that certain real property in the City of Glendale ("City), State of
Arizona, which is more particularly described in Exhibit A attached hereto, together with all
improvements, rights, easements, and appurtenances pertaining thereto and all fixtures and other
property located thereon, including but not limited to water rights, air rights, development rights,
rights to minerals, oil, gas, and other hydrocarbon substances in, under, or that may be produced
from the real property and not previously reserved (to the extent the same is held by Seller), rights
to strips and gores, streets, alleys, rights-of-way, public ways, or other rights appurtenant, adjacent,
or connected to the real property, (collectively, the "Property").
WHEREAS, Seller and Purchaser expressly acknowledge the existence on the Property of
what may be termed an unfinished subgrade parking garage ("Parking Garage"). Purchaser
expressly acknowledges that Purchaser must remediate the Parking Garage prior to any
development and/or vertical construction occurring on the Property.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained
herein, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged by each of the parties hereto, the parties hereto agree as follows:
1.
Purchase Price. Subject to the terms and provisions of this Agreement, Seller shall
sell and transfer the Property to Purchaser, and Purchaser shall purchase the Property from Seller
and pay to Seller, the sum of One ($1.00) (hereinafter referred to as the "Purchase Price").
2.
Earnest Monev.
(a)
Earnest Money. Within three (3) business days after the Effective Date,
Purchaser agrees to deposit in escrow ("Escrow") with Traci Greenhow, Pioneer Title Agency.
("Escrow Agent"), by federal wire transfer or other immediately available funds, an earnest
money deposit in the amount of 50% of the anticipated closing costs, as determined by the Escrow
Agent (the "Earnest Money"). Upon the expiration of the Inspection Period, the Earnest Money
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