HomeMy WebLinkAbout2025-R-3 Resolution Approving & Ratifying Purchase Agreement & Authorizing Closing of Real Property Located at 3414 Charlestown Pike RESOLUTION NO. 2025-R-3
BEFORE THE JEFFERSONVILLE REDEVELOPMENT COMMISSION
STATE OF INDIANA
A RESOLUTION APPROVING AND RATIYFING PURCHASE AGREEMENT AND
AUTHORIZING CLOSING OF REAL PROPERTY
LOCATED AT 3414 CHARLESTOWN PIKE
WHEREAS,the City of Jeffersonville Redevelopment Commission(the"Commission"),
was created for the purpose of undertaking economic development and redevelopment projects in
the City of Jeffersonville ("City")pursuant to I.C. 36-7-14 and I.C. 36-7-25; and
WHEREAS, among the Commission's general powers is to acquire real estate located
within its jurisdiction for development; and
WHEREAS, the Commission has acquired real property located at 3414 Charlestown
Pike in Jeffersonville, Indiana (the "Property") as part of the widening and other public
improvements of Charlestown Pike; and
WHEREAS, the Commission has retained portions of the Property necessary for the
aforementioned improvements; and
WHEREAS, the Commission has previously expressed its desire and intent to dispose
the remainder of the Property; and
WHEREAS, the Commission, by and through the Jeffersonville Department of
Redevelopment, has complied with all statutory requirements for the disposition of the Property;
and
WHEREAS, the parties have negotiated the attached Purchase Agreement including
Counter-Offer("Exhibit"A"); and
NOW, THEREFORE, BE IT RESOLVED by the City of Jeffersonville
Redevelopment Commission that the attached Purchase Agreement and Counter-Offer for 3414
Charlestown Pike in Jeffersonville, Indiana is hereby approved and ratified; and
IT IS FURTHER RESOLVED by the City of Jeffersonville Redevelopment
Commission that its Executive Director, Rob Waiz, is hereby authorized to execute any and all
documents necessary for the purposes of the closing provided said closing is consistent with
those terms set forth in the attached Purchase Agreement and Counter-Offer.
IT IS FURTHER RESOVLED by the City of Jeffersonville Redevelopment
Commission that proceeds from said sale and closing shall be deposited into the general
operating fund of the Jeffersonville Department of Redevelopment.
ADOPTED and APPROVED on this day of U/� bV71��1_ 2025.
President
Jeffersonville Redevelopment Commission
ATTEST: 43
Secretary
Jeffersonville Redevelopment Commission
EXHIBIT"A"
PURCHASE AGREEMENT/COUNTER-OFFER
FOR 3414 CHARLESTOWN PIKE
Docusign Envelope ID:F9DC3570-7C01-41AF-BC3E-81578CD49D4A
Listing Broker(Co.) Keller Williams Realty Consultants (570 ) By Ashleigh cross ( )
Office code individual code
Selling Broker(Co.) Keller wi l l i ams Realty Consultants (570 ) By Alexandra Reyes ( )
Office code individual code
PURCHASE AGREEMENT
(IMPROVED PROPERTY)
For use only by members of the Indiana Association of REALTORS®
1 Date: 3/1/2025
2
3 A. BUYER: David Castro Hernandez Nayely Nieto ("Buyer")
4 agrees to buy the following property from the owner ("Seller") for the consideration and subject to the following terms,
5 provisions,and conditions:
6
7 B. PROPERTY: The property ("Property") is known as 3414 Charlestown Pike
8 in Jeffersonville Township, Clark County, Jeffersonville
9 Indiana, 47130 (zip code) legally described as:
10 GT 35 0.252 AC BY SURVEY
11 together with any existing permanent improvements and fixtures attached (unless leased or excluded), including, but
12 not limited to, electrical and/or gas fixtures, heating and central air-conditioning equipment and all attachments thereto,
13 built-in kitchen equipment, sump pumps, water softener, water purifier, fireplace inserts, gas logs and grates, central
14 vacuum equipment,window shades/blinds, curtain rods, drapery poles and fixtures, ceiling fans and light fixtures,towel
15 racks and bars, storm doors, windows, awnings, TV antennas, wall mounts, satellite dishes, storage barns, all
16 landscaping, mailbox, garage door opener(s)with control(s) AND THE FOLLOWING: (If applicable, any smart home
17 devices should be addressed in this paragraph.) Dishwasher, Microwave
18
19
20 EXCLUDES THE FOLLOWING(include leased items):
21
22
23 The terms of this Agreement will determine what items are included/excluded, not the Seller's Disclosure Form,
24 multiple listing service or other promotional materials. All items sold shall be fully paid for by Seller at time of
25 closing the transaction.
26
27 Buyer should verify and rely upon Buyer's own determination of total square footage, land, room dimensions
28 or community amenities if material, and releases the Seller, the Listing and Selling Brokers and all licensees
29 associated with Brokers from any and all liability relating to such determination.
30
31 C. PRICE: Buyer will pay the total purchase price of($ 240,000 )Two Hundred Forty Thousand
32 U.S. Dollars for the Property. If Buyer obtains an appraisal of the Property, this
33 Agreement is contingent upon the Property appraising at no less than the agreed upon purchase price. If appraised
34 value is less than the agreed upon purchase price Buyer retains the option to proceed toward closing at the agreed
35 upon purchase price. If Buyer is not willing or able to proceed at the agreed upon purchase price then: 1) either party
36 may terminate this Agreement;or 2) parties may mutually agree to amend the agreed upon price.
37
38 D. EARNEST MONEY:
39 1. SUBMISSION: Buyer submits $ 500 U.S. Dollars as earnest money which shall be
40 applied to the purchase price at closing. If not submitted with Purchase Agreement, Earnest money shall be
41 delivered to Escrow Agent within 3 Busi ness hours days after acceptance of offer to purchase.
42 Escrow Agent to be: I I Listing Broker Selling Broker Other . Escrow agent shall, after
43 acceptance of the Agreement and within two (2) banking days of receipt of the earnest money, deposit the
44 earnest money into its escrow account and hold it until time of closing the transaction or termination of this Agreement.
45 Earnest money shall be returned promptly to Buyer in the event this offer is not accepted. If Buyer fails to timely
46 submit Earnest Money to Escrow Agent as agreed to above, Buyer agrees Seller may terminate this Agreement by
47 serving a Notice of Termination to Buyer prior to Escrow Agent's receipt of the Earnest Money.
48 2. DISBURSEMENT: Upon notification that Buyer or Seller intends not to perform, and if Escrow Agent is the Broker,
49 then Broker holding the Earnest Money may release the Earnest Money as provided in this Agreement. If no
50 provision is made in this Agreement, Broker may send to Buyer and Seller notice of the disbursement by certified
51 mail of the intended payee of the Earnest Money as permitted in 876 IAC 8-2-2. If neither Buyer nor Seller enters
52 into a mutual release or initiates litigation within sixty(60)days of the mailing date of the certified letter, Broker may
53 release the Earnest Money to the party identified in the certified letter. If Escrow Agent is anyone other than a
54 Broker, the 60 day letter release process will not be available. If the Escrow Agent is the Broker, Broker shall be
55 absolved from any responsibility to make payment to Seller or Buyer unless the parties enter into a Mutual Release
3414 Charlestown Pike Jeffersonville IN 47130
(Property Address)
Page 1 of 9(Purchase Agreement)
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56 or a Court issues an Order for payment, except as permitted in 876 IAC 8-2-2 (release of earnest money). Buyer
57 and Seller agree to hold the Broker harmless from any liability, including attorney's fees and costs, for good faith
58 disbursement of Earnest Money in accordance with this Agreement and licensing regulations.
59
60 E. METHOD OF PAYMENT: (Check appropriate paragraph number)
61 1. CASH: The entire purchase price shall be paid in cash, U.S. Dollars, and no financing is required. Buyer
62 to provide proof of funds submitted[with offer[ within days of acceptance.
63 If Buyer fails to timely submit proof of funds, Buyer agrees Seller may terminate this Agreement by
64 serving a Notice of Termination prior to receiving the proof of funds.
65 Buyer[will[will not have an appraisal.
66 2 k NEW MORTGAGE: Completion of this transaction shall be contingent upon the Buyer's ability to obtain a
67 H. Conventional L Insured Conventional x�FHA VA _Other: first
68 mortgage loan for % of purchase price, payable in not less than years, with an
69 original rate of interest not to exceed % per annum and not to exceed points. Buyer
70 shall pay all costs of obtaining financing, except for any Seller concessions agreed to by Seller.
71 Any inspections and charges which are required to be made and charged to Buyer or Seller by the lender,
72 FHA, VA, or mortgage insurer, shall be made and charged in accordance with their prevailing rules or
73 _ regulations and shall supersede any provisions of this Agreement.
74 3. _ ASSUMPTION: (Attach Financing Addendum)
75 4. CONDITIONAL SALES CONTRACT: (Attach Financing Addendum)
76 5. _ OTHER METHOD OF PAYMENT: (Attach Financing Addendum)
77
78 F. TIME FOR OBTAINING FINANCING:
79 1. APPLICATION: Within 10 days after the acceptance of this Agreement, Buyer agrees to make written
80 application for any financing necessary, to complete this transaction or for approval to assume the unpaid balance
81 of the existing mortgage and to make a diligent effort to meet the lender's requirements and to obtain financing in
82 cooperation with the Broker and Seller. Buyer directs lender to order appraisal immediately.
83 2. APPROVAL: No more than 20 days after acceptance of this Agreement shall be allowed for obtaining loan
84 approval,which shall include a completed appraisal, if required by lender or mortgage assumption approval. If an
85 approval is not obtained within the time specified above, this Agreement may terminate unless an extension of
86 time for this purpose is mutually agreed to in writing.
87
88 G. SELLER CONTRIBUTIONS: 7,500
89 1. x SELLER CONCESSIONS: Seller shall provide an allowance up to $ U.S. Dollars or -- % of
90 purchase price to be used by Buyer toward any allowed closing costs.
91 2. BUYER BROKER COMPENSATION: Seller to pay Buyer Broker in the amount of$ -- U.S. Dollars or
92 3 %of purchase price. The payment of compensation does not create an agency relationship between Buyer
93 Broker and Seller.
93
94 H. CLOSING: 04/17/2025
95 1. DATE: The closing of the sale (the "Closing Date") shall be on or before , or
96 within days after , whichever is later or this Agreement
97 shall terminate unless an extension of time is mutually agreed to in writing. Any closing date earlier than the latest
98 date above must be by mutual written agreement of the parties.
99 2. FEE: The settlement or closing fee incurred in conducting the settlement charged by the closing agent or company
100 shall be paid byX f Buyer(included in allowance,if provided)'JSellerL Shared equally.
101 3. CONTINGENCY:This Agreement:
102 is not contingent upon the closing of another transaction;
103 is contingent upon the closing of the pending transaction on Buyer's property located at
104 scheduled to close by
105 Should that transaction not close,this Purchase Agreement is null and void and the earnest money shall be disbursed
106 according to a Mutual Release Agreement
107 H is contingent upon the acceptance of a Purchase Agreement on Buyer's property:
108 _Addendum to Purchase Agreement First Right Contingency. See attached Addendum.
109 _Addendum to Purchase Agreement Limited Purchase Contingency Right. See attached Addendum.
110 4. GOOD FUNDS: Notwithstanding terms to the contrary, the Parties agree that as a condition to Closing, all funds
111 delivered to the closing agent's escrow account be in such form that the closing agent shall be able to disburse in
112 compliance with I.C. 27-07-3.7 et. seq.Therefore,all funds from a single source of$10,000, U.S. Dollars, or more shall
113 be wired unconditionally to the closing agent's escrow account and all funds under$10,000, U.S. Dollars,from a single
114 source shall be good funds as so defined by statute. Buyer is advised that the cost incurred to wire funds on behalf of
115 and the actual cost incurred shall appear on the closing statement.
3414 Charlestown Pike 7effersonville IN 47130
(Property Address)
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116 5. WIRE FRAUD. If you receive any electronic communication directing you to transfer funds or provide
117 nonpublic personal information, EVEN IF THAT ELECTRONIC COMMUNICATION APPEARS TO BE FROM
118 BROKER OR TITLE COMPANY, do not respond until you verify the authenticity by direct communication with
117 Broker or Title Company. Do not rely on telephone numbers provided in the electronic communication. Such
118 requests may be part of a scheme to steal funds or use your identity.
120
121 I. POSSESSION:
122 1. The possession of the Property shall be delivered to Buyer X atclosing within days beginning the
123 day after closing by J I AM L.PM noon or on or before by AM
124 _PM noon if closed. For each day Seller is entitled to possession after closing, Seller shall pay to Buyer at
125 closing$ U.S. Dollars per day.
126 If Seller does not deliver possession by the date and time required in the first sentence of this paragraph, Seller
127 shall pay Buyer $ U.S. Dollars per day as liquidated damages until possession is delivered to Buyer;
128 and Buyer shall have all other legal and equitable remedies available against the Seller.
129 2. MAINTENANCE OF PROPERTY: Seller shall maintain the Property in its present condition until its possession is
130 delivered to Buyer, subject to repairs in response to any inspection. Buyer may inspect the Property prior to closing
131 to determine whether Seller has complied with this paragraph.Seller shall remove all debris and personal property
132 not included in the sale.
133 3. CASUALTY LOSS: Risk of loss by damage or destruction to the Property prior to the closing shall be borne by
134 Seller, including any deductible(s). In the event any damage or destruction is not fully repaired prior to closing,
135 Buyer, at Buyer's option, may either (a) terminate this Agreement with prompt return of earnest money to
136 buyer or(b) elect to close the transaction, in which event Seller's right to all real property insurance proceeds
137 resulting from such damage or destruction shall be assigned in writing by Seller to Buyer.
138 4. UTILITIES/MUNICIPAL SERVICES: Seller shall pay for all municipal services and public utility charges through the
139 day of possession.
140 5. HOME HEATING FUEL:Any remaining fuel stored in tank(s) 'L to be included in the sale 'Li will be purchased
141 by Buyer at current market price measured within five(5)days prior to closing' L not applicable.
142
143 J. LEASED PROPERTY: If this Property is subject to an enforceable Lease between Seller and tenant(s), such
144 Lease will be provided to Buyer by Seller within days after acceptance of this Agreement. If Buyer does
145 not make a written response to the Lease within days after receipt,the Lease shall be deemed acceptable.
146 Possession will be subject to tenant's rights. In the event the Buyer does not accept any provision(s) of the
147 Lease and such provision(s) cannot be re-negotiated with Tenant(s),this Agreement may be terminated by the
148 Buyer and the earnest money deposit shall be refunded to Buyer promptly.
149
150 K. SURVEY: Buyer shall receive a (Check one) 1 SURVEYOR LOCATION REPORT, which is a survey where
151 corner markers are not set; L BOUNDARY SURVEY,which is a survey where corner markers of the Property are set
152 prior to closing;) i WAIVED, no survey unless required by lender; at (Check one) H Buyer's expense (included
153 in allowance, if provided [] Seller's expense Shared equally and ordered by I I Buyer I Seller
154 LOther . The survey shall (1) be received prior to closing and certified as of a current date, (2) be
155 reasonably satisfactory to Buyer, (3) show the location of all improvements and easements. If Buyer waives the right to
156 conduct a survey, the Seller, the Listing and Selling Brokers, and all licensees associated with Brokers are released
157 from any and all liability relating to any issues that could have been discovered by a survey. This release shall survive
158 the closing.
159
160 L. FLOOD AREA: If the property is located in a flood plain, Buyer may be required to carry flood insurance at Buyer's
161 expense. Revised flood maps and changes to Federal law may substantially increase future flood insurance premiums
162 or require insurance for formerly exempt properties. Buyer should consult with one or more flood insurance agents
163 regarding the need for flood insurance and possible premium increases. Buyer ]may Li may not terminate this
164 Agreement if the Property requires flood insurance.
165
166 M. BUILDING USE LIMITATIONS: Buyer's intended use for the Property is x single-family,owner occupied use L other
167 Buyer shall have days after acceptance of Purchase
168 Agreement to satisfy the following building or use limitation:
169
170 N. HOMEOWNER'S INSURANCE: Completion of this transaction shall be contingent upon the Buyer's ability to obtain a
171 favorable written commitment for homeowner's insurance within 15 days after acceptance of this Agreement.
172 Buyer should consult with one or more insurance agents regarding optional,or additional,coverage.
173
174 O. ENVIRONMENTAL CONTAMINANTS ADVISORY/RELEASE: Buyer and Seller acknowledge that Listing Broker,
175 Selling Broker and all licensees associated with Brokers are NOT experts and have NO special training, knowledge or
176 experience with regard to the evaluation or existence of possible lead-based paint, radon, mold and other biological
177 contaminants ("Environmental Contaminants") which might exist and affect the Property. Environmental Contaminants
3414 Charlestown Pike Jeffersonville IN 47130
(Property Address)
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178 at harmful levels may cause property damage and serious illness, including but not limited to, allergic and/or respiratory
179 problems,particularly in persons with immune system problems,young children and/or the elderly. Buyer is STRONGLY
180 ADVISED to obtain inspections(see below)to fully determine the condition of the Property and its environmental status.
181 The ONLY way to determine if Environmental Contaminants are present at the Property at harmful levels is through
182 inspections.
183
184 Buyer and Seller agree to consult with appropriate experts and accept all risks for Environmental
185 Contaminants and release and hold harmless all Brokers, their companies and licensees from any and all
186 liability, including attorney's fees and costs, arising out of or related to any inspection, inspection result,
187 repair, disclosed defect or deficiency affecting the Property, including Environmental Contaminants. This
188 release shall survive the closing.
189
190 P. INSPECTIONS: (Check one)
191
192 Buyer has been made aware that independent inspections disclosing the condition of the property may be
193 conducted and has been afforded the opportunity to require such inspections as a condition of this Agreement.
194
195 1. L BUYER WAIVES THE RIGHT TO HAVE INDEPENDENT INSPECTIONS
196 Buyer WAIVES inspections and relies upon the condition of the Property based upon Buyer's own
197 examination and releases the Seller, the Listing and Selling Brokers and all licensees associated with
198 Brokers from any and all liability relating to any defect or deficiency affecting the Property, which
199 release shall survive the closing. Inspections required by law, FHANA, down payment assistance program
200 or by lender are not included in this waiver.
201
202 2. K BUYER RESERVES THE RIGHT TO HAVE INDEPENDENT INSPECTIONS (including Lead-Based Paint)
203 Buyer reserves the right to have independent inspections in addition to any inspection required by law, FHANA,
204 down payment assistance program or Buyer's lender(s).All inspections shall be:
205 a At Buyer's expense(unless agreed otherwise by the parties or required by lender);
206 b. Conducted by licensed, independent inspectors or qualified independent contractors selected by
207 Buyer within the following time periods.
208 Seller shall have'water, gas, electricity and all operable pilot lights on for Buyer's inspections. Seller must make all
209 areas of the Froperiy available and accessible for Buyer's inspection.
210 211 3. —
PROPERTY IS SOLD"AS IS".See Attached Addendum.
212
213 INSPECTION/RESPONSE PERIOD(Does riot apply with As Is Addendum):
214 A. INITIAL INSPECTION PERIOD: Buyer shall order all independent inspections after acceptance of the Purchase
215 Agreerner. Buyer shall have 10 days beginning the day following the date of acceptance of the Purchase
216 Agreement to respond to the inspection report(s) in writing to Seller(see"Buyer's Inspection Response").
217 B. SCOPE OF INSPECTION: Inspections may include but are not limited to the condition of the following
218 systems and components: heating, cooling, electrical, plumbing, roof, walls, ceilings, floors, foundation,
219 basemen',cr^.w'l space,well/septic,water,wood destroying insects and organisms, lead-based paint(note:
220 intact lead-based paint that is in good condition is not necessarily a hazard), radon, mold and other
221 biological contaminants and/or the following:
222
223 C. ADDITIONAL INSPECTION: If the INITIAL inspection report reveals the presence of lead-based paint, radon, mold
224 and other biological contaminants, or any other condition that requires further examination or testing, then Buyer
225 shall notify Seller in writing and have 7 additional days from the deadline listed above to order,
226 receive and resac,nd in writing to all inspection reports.
227 D. INSPECTION RESPONSE(S) REQUIRED: If the Buyer does not comply with any Inspection/Response Period or make
228 a written objection to any problem revealed in a report within the applicable Inspection/Response Period,the Property
229 shall be dhemed to he acceptable. If one party fails to respond or request in writing an extension of time to respond to the
230 other party's Independent Inspection Response, then that inspection response is accepted. A timely request for
231 extension is not an acceptance of the inspection response,whether or not granted.A reasonable time period to respond
232 is required to prevent misuse of this acceptance provision. Factors considered in determining reasonable time periods
233 include, tut are not limited to, availability of responding party to respond,type and expense of repairs requested and
234 need of responding party to obtain additional opinions to formulate a response.
235 E. IF DEFECT IS IDENTIFIED: If an Inspection Report reveals a DEFECT(S)with the Property,the Buyer must:
236 1. Provice the inspection report,or relevant parts thereof,to the Seller;and
237 2. Give the Seller the opportunity to remedy the defect(s).
238 F. SELLER RESPONSE TO INSPECTION DEFECT: If Seller is unable or unwilling to remedy the defect(s)to Buyer's
239 reasonable satisfaction before closing(or at a time otherwise agreed to by the parties),then Buyer may terminate this
240 Agreemer.t or waive such defect(s) and the transaction shall proceed toward closing. Seller may terminate this
3414 Charlestown Pike Jeffersonville IN 47130
(Property Address)
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241 Agreement by submitting a Mutual Release if Buyer chooses to further negotiate with subsequent Inspection
242 Response(s).
243 G. DEFECT DEFINED: Under Indiana law, "Defect"means a condition that would have a significant adverse effect on
244 the value of the Property, that would significantly impair the health or safety of future occupants of the property, or
245 that if not repaired, removed, or replaced would significantly shorten or adversely affect the expected normal life of
246 the premises.
247 H. PREVIOUSLY DISCLOSED DETECT:Buyer agrees that any property defect(s)previously disclosed by Seller,or routine
248 maintenance and minor repair items mentioned in any report, shall not be a basis for termination of this agreement.
249 I. INSPECT ON RELEASE: Bu""er releases and holds harmless all Brokers and their companies from any and all
250 liability, including attorney's fees and costs, arising out of or related to any inspection, inspection result, repair,
251 disclosed defect er deficiency affecting the Property, including but not limited to lead-based paint, radon, mold and
252 other biological contaminants. This release shall survive the closing.
253
254 Q. LIMITED HOME WARRANTY PROGRAM:
255 Buyer acknowledge_ the availability of a LIMITED HOME WARRANTY PROGRAM with a deductible paid by Buyer
256 which1CJwill [ Will not be provided at a cost not to exceed $ 499 U.S. Dollars charged to I_ i Buyer
257 L Seller and ordered by g f Buyer L j Seller. Buyer and Seller acknowledge this LIMITED HOME WARRANTY
258 PROGRAM may not cover any pre-existing defects in the Property nor replace the need for an independent home
259 inspection. Broker may receive a fee from the home warranty provider and/or a member benefit. The Limited Home
260 Warranty Program is a contract between Buyer/Seller and the Home Warranty Provider.
261
262 The Parties agree that Brokers and their companies shall be released and held harmless in the event of claims disputes with
263 the Home Warranty Provider.
264
265 R. DISCLOSURES:(Check one)
266 1. BuyerLj has Lf has notL not applicable received and executed SELLER'S RESIDENTIAL REAL ESTATE
267 SALES DISCLOSURE.
268 2. Buyer _)has Lj has notXJ not applicable received and executed a LEAD-BASED PAINT CERTIFICATION
269 AND ACKNOWLEDGEMENT.
270
271 S. TITLE APPROVAL: Prior to closing, Buyer shall be furnished with t a title insurance commitment for the most
272 current and comprehensive ALTA Owner's Title Insurance Policy available in the amount of the purchase price or _,an
273 abstract of title.continued to date,showing marketable title to Property in Seller's name.Seller must convey title free and
274 clear of any encumbrances and title defects,with the exception of any mortgage assumed by Buyer and any restrictions or
275 easements of record not materially interfering with Buyer's intended use of the Property.A title company,at Buyer's request,
276 can provide information about availability of various additional title insurance coverages and endorsements and the associated costs.
277
278 OWNER'S TITLE INSURANCE PREMIUM and that portion of Title Service Fees incurred to prepare the Owner's Policy
279 (including title search and examination and commitment preparation), to be paid by Buyer(included in allowance,
280 if provided)Li Seller Li Shared equally.
281
282 LENDER'S TITLE INSURANCE PREMIUM and that portion of Title Service Fees incurred to prepare the Lender's Policy
283 (including title search and examination and commitment reparation), if applicable,to be paid by C Buyer(included in
284 allowance, if provided)[Seller[Shared equally Other
285
286 �-�-
287 The parties agree that [SellerJBuyer will select a title insurance company to issue a title insurance policy and will
288 order`.'le commitme,t Oil immediately or 7 other:
289
290
291 Pursuant to Federal and State Law. Seller cannot make Seller's selection of a title insurance provider a condition of this
292 Agreement.
293
294 Seller agrees to pay the cost of obtaining all other documents necessary to perfect title (including the cost of the deed
295 and vendor's affidavit),so that marketable title can be conveyed.
296
297 T. TAXES:(Check appropriate paragraph number)
298 1.LJ Buyer will assume and pay all taxes on the Property beginning with the taxes due and payable on
299 , and all taxes due thereafter. At or before closing, Seller shall pay all taxes
300 for the Property payable before that date.
301 2.gcJ Al!taxes that have accrued for any prior calendar year that remain unpaid shall be paid by Seller either to the
302 County Treasurer and/or the Buyer in the form of a credit at closing.All taxes that have accrued for the current
303 cz! ndar;year shall be prorated on a calendar-year basis as of the day immediately prior to the Closing Date.
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304 3.U For recent construction or other tax situations. Seller will give a tax credit of
305 $ U.S. Dollars to Buyer at closing.This shall be a final settlement.
306 For purposes of paragraph 1 and 2: For the purpose of determining the credit amount for accrued but unpaid taxes,
307 taxes shall be assumed to be the same as the most recent year when taxes were billed based upon certified tax rates.
308 This shall be a final settlement.
309
310 WARNING:
311 *The succeeding year tax bill for recently constructed homes or following reassessment periods may greatly exceed
312 the last tax hill available to the closing agent.
313
314 *Buyer ackrdowladges Sel'e,•'s tax exemptions and/or credits may not be reflected on future tax bills.
315
316 *Buyer may apply for current-year exemptions/credits at or after closing.
317
318 U. PRORATION'S A.n SPF.C'.A! ASSESSMENTS: Insurance, if assigned to Buyer, interest on any debt assumed or
319 taken subject to, any rents, all other income and ordinary operating expenses of the Property, including but not limited
320 to, public ''tility charges, shall be ,_aerated as of the day immediately prior to the Closing Date. Seller shall pay any
321 special assessments applicable to the Property for municipal improvements previously made to benefit the Property.
322 Seller war-arts that Seller has no knowledge of any planned improvements which may result in assessments and that
323 no governmental or private agency has served notice requiring repairs, alterations or corrections of any existing
324 conditions P:bli; sr r,unicipa' improvements which are not completed as of the date above but which will result in a
325 lien or charge shall be paid by Buyer. Buyer will assume and pay all special assessments for municipal improvements
326 completed after the date of this Agreement.
327
328 V. TIME:Time is of the essence.Time periods specified in this Agreement and any subsequent Addenda to the Purchase
329 Agreement are calendar days and shall expire at 11:59 PM of the date stated unless the parties agree in writing to a
330 different date and/or time. Unless otherwise stated,all time periods shall begin the day after the acceptance of this Agreement.
331
332 Note: Seller and Buyer have the right to withdraw any offer/counter offer prior to written acceptance and
333 delivery of such offer/counter offer.
334
335 W. HOMEOWNERS ASSOCIATION/CONDOMINIUM ASSOCIATION ("Association"): If the property is located in a
336 community governed by a mandatory homeowners association, the following must be provided by the Seller to Buyer
337 within days after acceptance of this Agreement, but not later than ten (10) days prior to closing pursuant to I.C.
338 32-21-f:-8.5: 1. A d'scclosure that the property is in a community governed by a homeowners association; 2) A copy of
339 the recorded go'!e"n'ng documents; 3) a statement indicating there are assessments and the amount of any
340 assessments;4)The following information about a board member,homeowners association agent,or other person who
341 has a contract Kith the home.owrer3 association to provide any management services for the homeowners association:
342 (A)the name. (B)the business or home address. Brokers are not responsible for obtaining, verifying or interpreting this
343 information. The parties agree that Brokers and their companies shall be released and held harmless from any and all
344 liability arising out of or related to these documents.
345
346 If the Buyer does not make a written response to the documents within days after receipt. the documents shall be
347 deemed acceptable. !n the event the Buyer does not accept the provisions in the documents and such provisions
348 cannot be waived,this Agreement may be terminated by the Buyer and the earnest money deposit shall be refunded to
349 Buyer promptly.Any approval of sale required by the Association shall be obtained by the Seiler, in writing,within
350 days after Buyer's approval of the documents. Fees charged by the "Association", or its management company, for
351 purposes of verification of good standing and/or transfer of ownership shall be shared equally by Buyer and Seller.
352 Start-up or one time reserve fees. if any, shall be paid by Buyer.
353
354 Buyer ceMr ow'ec:ges that in every neighborhood there are conditions which others may find objectionable.
355 Buyer shall therefore be respansible to become Bally acquainted with neighborhood and other off-site
356 conditions th't could affect the Property.
357
358 X. ATTORNEY'S FEES: Any party to this Agreement who is the prevailing party in any legal or equitable proceeding
359 against any other party brought under or with relation to the Agreement or transaction shall be additionally entitled to
360 recovsr ss'' t cnets and reasonable atto7^ev'7 fees frcri the non-prevailing party.
361
362 Y. FAIR NOIJS'N( : The part'es acknowledge that the Fair Housing Act prohibits discrimination in housing because of
363 race, color, national origin, religion, sex, familial status, and disability. Due to Fair Housing risks, Brokers will not
364 prep es review, or submit personal information letters, including photographs, from Buyer to Seller. The
3414 Char 1e' own 71ke Jeffersonville IN 47130
(Property Address)
Page 6 of 9 (Purchase Agreement)
COPYRIGHT IAR 2025
Docusign Envelope ID:F9DC3570-7C01-41AF-BC3E-81578CD49D4A
365 National Association of REALTORS®Code of Ethics also prohibits REALTORS®from discriminating on the basis of
366 sexual orientation or gender identity.
367
368 Z. ADDITIONAL PROVISIONS:
368
369 1. Unless otherwise provided, any proration's for rent, taxes, insurance, damage deposits, association
370 dues/assessments,or any other items shall be computed as of the day immediately prior to the Closing Date.
371
372 2. Underground mining has occurred in Indiana, and Buyers are advised of the availability of subsidence insurance.
373 Broker.!s.not responsible for providing or verifying this information.
374
375 3. The Indiana State Police has created a registry of known meth contaminated properties which can be found at
376 www.in.gpv/rneth. Click on"Clan Lab Addresses."Broker is not responsible for providing or verifying this information.
377
378 4. The!ndiana Sheriffs Sex Offender Registry(www.indianasheriffs.orq)exists to inform the public about the identity,
379 location and anoearenne of sex offenders residing within Indiana. Broker is not responsible for providing or verifying
380 this information.
381
382 5. Conveyance of this Property shall be by general Warranty Deed, or by
383 subject to taxes,easements,restrictive covenants and encumbrances of record,unless otherwise agreed.
384
385 6. If it is determined Seller is a"foreign person"subject to the Foreign Investment in Real Property Tax Act, Seller will
386 pay applicable tax obligation.
387
388 7. Any notice required or Permitted to be delivered shall be deemed received when personally delivered, transmitted
389 electronically or digitally or sent by express courier or United States mail, postage prepaid, certified and return
390 receipt requested,addressed to Seller or Buyer or the designated agent of either party.
391
392 8. This Agreement shall be construed under and in accordance with the laws of the State of Indiana and is binding
393 upon the parties'respective heirs,executors,administrators,legal representatives,successors,and assigns. Buyer
394 may not assign this Agreement without the consent of Seller.
395
396 9. In case any provision contained in this Agreement is held invalid, illegal, or unenforceable in any respect, the
397 invalidity,illegality,or unenforceability shall not affect any other provision of this Agreement.
398
399 10. This Agreement constitutes the sole and only agreement of the parties and supersedes any prior understandings or
400 written or oral agreements between the parties' respecting the transaction and cannot be changed except by their
401 written consent.
402
403 11. All rights,d_sties and obligations of the parties shall survive the passing of title to,or an interest in,the Property.
404
405 12. Broker(;) may refer Buyer or Seller to other professionals, service providers or product vendors, including lenders,
406 loan brokers.title insurers, escrow companies, inspectors,pest control companies,contractors and home warranty
407 companies Broker(s)does not guarantee the performance of any service provider. Buyer and Seller are free to select
408 providers other than those referred or recommended to them by Broker(s).The Parties agree that Brokers and their
409 companies shall be released and held harmless in the event of claims disputes with any service provider.
410
411 13. By signing below, the parties to this transaction acknowledge: 1) receipt of a copy of this Agreement; and 2)
412 information regarding this transaction may be published in a listing service. Internet or other advertising media.
413
414 14. Any amounts payable by one party to the other, or by one party on behalf of the other party, shall not be owed
415 until this transaction is closed.
416
417 15. Buyer and Seller consent to receive communications from Broker(s)via telephone, U.S. mail, email, text message
418 and facsimile at the numbers/addresses provided to Broker(s) unless Buyer and Seller notify Broker(s) in writing to
419 the contrary.
420
421 16. Buyer discloses to Seller that Buyer holds Indiana Real Estate License#
422
423 17. Where the word"Broker"appears,it shall mean"Licensee"as provided in I.C.25-34.1-10-6.8.
424
425
3414 Charlestown Pike Jeffersonville IN 47130
(Property Address)
Page 7 of 9 (Purchase Agreement)
CC {RI J�-i i iAR 2325
Docusign Envelope ID:F9DC3570-7C01-41AF-BC3E-81578CD49D4A
426 AA. FURTHER CONDITIONS (List and attach any addenda):
427 closing to take place at Momentum Title Agency in Jeffersonville IN
428
429
430
431 - - ---------
432
433
434
435
436
437
438
439 — -- --
440
441
440
441 BB. CONSULT YOUR ADVISORS: Buyer and Se!!er acknowledge they have been advised that, prior to signing this
442 document, they may seek the advice of an attorney for the legal or tax consequences of this document and the
443 transaction to which it relates. In any real estate transaction, it is recommended that you consult with a professional,
444 such as a civil engineer, environmental engineer, or other person, with experience in evaluating the condition of the
445 Property.
446
447 CC. ACKI.C:1/LEC: EM :4.':;:Tris)❑ is, ❑is r:; 64 limited agency transaction. Buyer and Sel er acknowledge that each
448 has received agency ofiet,pohic,y Jiscoswes, has had agency explained,and now confirms all agency relationships. Buyer
449 and Seller fat-trier acknowledge that They understand and accept agency relationships involved in this transaction.
450
451 EXPIRATION OF OFFER: Unless accepted in writing by Seller and delivered to Buyer by 5:00
452 ❑AM PM ❑ Noon, on 3/3/2025 , this Purchase Agreement shall be null
453 and void and all parties si'all oe relieved of any and all liability or obligations.
454
455 This Agreement/contract together with any and all suosequent forms, amendments and addenda may be executed
456 simultaneously or in two or more counterparts, each of which shall be deemed an original but all of which together shall
457 consttute ore and the same Instrument. The parties agree that this Agreement, together with any and all subsequent
458 forms amendments and addenda may be transmitted between them electronically or digitally. The parties intend that
459 elect,onicall'i or digitally transmitted signatures constitute original signatures and are binding on the parties.The original
460 documents shall be promptly delivered, if requested.
46'?
462 LEGAL REMEDIESiDEFAULT: if this offer is accepted and Buyer fails or refuses to close the transaction, without legal
463 cause,the earnest money shalt be retained by Seller for damages Seder has or will incur.Seiler retains all rights to seek other
464 legal and equitable remedies,which may include specific performance and adciticnal monetary damages.All parties have the
465 legal duty tc use good faith and due diligence in completing the terms anr, conditions of this Agreement. A material failure to
466 perform any obligation under this Agreement is a default which may subject the defaulting party to liability for damages and/or
467 other legal remedies,which,as stated above, may include specific performance and monetary damages in addition to loss of
463 Earnest Money.
469
470 By signature below,the parties verify that they unaers_ai:d and approve tnis Purchase Agreement and acknowledge
471 receipt of a signed copy.
-Sig by: "—Signed by:
472
47 3/1/2025 110:13 E it► 11 3/1/2025 110:17 ES1
' ' I
47-�`-8�SIGNATURE DATE vEM-YEE .TURE DATE
475
476 David Castro ::er,.a:,ds: Navel
477 PRINTED PRINTED
3414 Charlestown pike Jeffersonville IN 47130
(Property Address)
Page 8 of 9 (Purchase Agreement)
COPYRIGHT IAR 2025
Docusign Envelope ID:F9DC3570-7C01-41AF-BC3E-81578CD49D4A
478 SELLER'S RESPONSE:(Check appropriate paragraph number):
479
480 On ,at [1AM[PM,J Noon
481
482 1.❑ The above offer is Accepted.
483
484 2.❑ The above Cher is Rejected.
485
486 3.F The above offer is Co',nte.red.See Counter Offer.Se!!er should sign both the Purchase Agreement and the Counter
487 Offer.
483
489
490 By signature i;eicw,she parties verity that tney understand and approve this Purchase Agreement and acknowledge
491 theta signed copy.
492 rt1 04013/3/2025 1 17:35 EST
493
494 SELLER'S SIGNATURE DATE SELLER'S SIGNATURE DATE
495
495 Jeffers.;m h : r : ri,, of �.� _valoprent
497 PRINTED PRINTED
' Prepared and provided as a member service by the Indiana Association of REALTORS®, Inc.(IAR)This form is
restricted to use by members of IAR. This is a legally binding contract, if not understood seek legal advice.
Form#02.Copyright IAR 2025
OPPORTUNITY
3414 Charlestown Pike ]effersonville IN 47130
(Property Address)
Page 9 of 9 (Purchase Agreement)
COPYRIGHT IAR 2025
Docusign Envelope ID:34D90239-474B-4CCF-8136-E015B892F9E7
Ewu
IAaor
REALTOR COUNTER OFFER # 1
For use only by members of the Indiana Association of REALTORS®
1 1:15 [ A.M)0 PM 03/03/2025
2
3 The undersigned makes the following Counter Offer to the Purchase Agreement dated 03/01/2025
4 concerning property commonly known as 3414 Char- . stcwvn Pike
5 in Jeffersonvi 11 e Township, Clark County, Jeffersonville
6 Indiana between: Jeffersonville Department of Redevelopment as Seller(s)
7 and David Castro Hernandez Nayely Nieto as Buyer(s).
8 Purchase price to be $248,500
9 sel7_r tr. _,a, _p to $7,500 in closing cost and prepaids
10 seller agent commission to be 2.5%
11 Subject to Redevelopment commission approval within 24 hours of acceptance of counter
12 Seller to provide a home warranty not to exceed $499.
13
14
15
17
— — — — — —18
19
20
21
22 — —23 All other terms and conditions of the Purchase Agreement and all previous Counter Offers shall remain in
24 effect except as modified by this Counter Offer.
25
26 Note: Seller and Buyer have the right to withdraw any offer/Counter Offer prior to written acceptance and
27 delivery of such offer/Counter Offer.
28
29 This Ccur ter'.7ff 4 's void if not accepted in writing on or before 10 I AM PM Lf Noon
30 on OE/03/2025
31
32 This Agreement may be executed simultaneously or in two or more counterparts, each of which shall be deemed an
33 original, but all o,`which tege` . r ::all constitute one and the same instrument. The parties agree that this Agreement
34 may be transmitted between them electronically or digitally. The parties intend that faxed signatures constitute original
35 • i u :s and are binding on the parties. The o';::.ai ccn =_rri 3hal: be p::c:�.ptly delivered, if requested.
36 fat, ✓Paio) 3/3/2025 I 17:35 EST
37
38 ;�` �' '°' OLIVER SIGNATURE DATE I SELLER u BUYER SIGNATURE DATE
IJ u
39
40 Jeffe: scville Department of R=development
41 PR!r:T
42
43 RESPONSE TO COUNTER OFFER# 1
7:45
44 The above Counter Offer ;+ 1 is 0 Accepted [Couniered Li Rejected at ❑ AM x0 PM
45 ❑Noon on March 3 2025 . Receipt of a signed copy of this Counter Offer is acknowledged.
Signed46 "' 3/3/2025 1 19:56 EST. �Si9nsanY. 3/3/2025 1 16:55 PST
47 / /� J° i-V rtat
48 &ELLER<x BUYER SIGNATURE DATE ‘Hf4'tstrER,1 BUYER SIGNATURE DATE
49
50 David Ca.,trc Hernandez Nayely Nieto
5-i PRINTED PRINTED
It
Prepared and provided as a member service by the Indiana Association of REALTORS®, Inc. (IAR). This form is
restricted •to use by members of IAR. This •is a legally binding •contract, if not understood seek legal advice.
Form#16A. Copyright IAR 2025 CPRORTI1Nr,
Ashleigh Cross Keller Williams Realty, Inc.