Introduced: April 11, 2016
Public Hearing: May 9, 2016
An ordinance of the Township of Vernon, County of Sussex, State of New Jersey authorizing the sale of property owned by the township and not required for public purposes and more commonly known as Block 142.01, Lot 1
WHEREAS, the Local Lands and Buildings Law, N.J.S.A. 40A:12-13 authorizes the sale by municipalities of any real property, capital improvements or personal property or interests therein, not needed for public use by open public sale at auction to the highest bidder after the required newspaper advertisements; and
WHEREAS, the Township of Vernon is the owner of certain real property known as Block 142.01 Lot 1; and
WHEREAS, said property is not needed for public use, and the Township Council has determined that it is in the best interest of the Township to sell the property; and
NOW, THEREFORE, BE IT ORDAINED by the Township Council of the Township of Vernon, County of Sussex, State of New Jersey, that:
- The property known as Block 142.01 Lot 1 shall be offered for sale by open public sale at auction to the highest bidder, pursuant to N.J.S.A. 40A:12-13. Said auction shall be conducted on May 23, 2016 at 7:30 p.m. at the Municipal Building, 21 Church Street, Vernon, New Jersey.
- The said property shall be sold subject to the following terms and conditions:
- The said property shall be sold for not less than $100,000.00.
- The sale shall be made at public auction, after legal advertisement of this Ordinance, and shall be to highest bidder.
- The property is sold strictly “as is” and the Township makes no representations as to the condition of the building and the other improvements on the lot. There shall be no post-auction inspections and the successful bidder shall not be entitled to a refund based upon any defects or objections to the condition of the property.
- The Township does not warrant or certify title to the property and in no event shall the Township of Vernon be liable for any damages to the purchaser-successful bidder if title is found unmarketable for any reason and the purchaser-successful bidder waives any and all right in damages or by way of liens against the Township. The sole remedy being the right to receive a refund prior to closing the ten percent (10%) deposit paid in the event title is found unmarketable. It shall be the obligation of the successful purchaser to examine title to said premises prior to the closing. In the event of closing and a later finding of defect of title, the Township shall not be responsible for same, shall not be required to refund money or correct any defect in title or be held liable for damages.
- Acceptance of the highest bid shall constitute a binding agreement of sale and the purchaser shall be deemed to agree to comply with the terms and conditions of the sale herein contained.
- The purchaser shall be required to pay upon the acceptance of the purchaser’s bid ten percent (10%) of the bid, plus $450.00 to cover the Township’s transaction costs in preparing this ordinance and drafting closing documents, in cash or check. The deposit shall be returned to the purchaser without interest if the title to said property is legally determined to be unmarketable providing claim is made therefore within ninety (90) days after the auction.
- A Quit Claim Deed will be delivered at the office of the Township Clerk on or before thirty (30) days after the date of the sale, at which time and place the balance of the purchase price shall be required to be paid in cash or certified check. The Mayor and Clerk are hereby authorized to execute said Deed.
- The Deed of Conveyance will be subject to all matters of record, which may affect title herein, what an accurate survey may reveal, the Ordinances of the Township of Vernon and reserving an easement for all natural or constructed drainage systems, waterways and water easements on the premises, if any, and the continued right of maintenance and flow thereof.
- The property will be sold subject to 2016 taxes, pro-rated from the date of sale.
- The governing body does hereby reserve the right to withdraw this offer to sell, or upon completion of the bidding to accept or reject any or all bids for said property or to waive any informality in relation thereto.
- The successful bidder shall be required to place a $25,000.00 cash escrow with the Township at the closing. The purchaser must obtain permits to begin work on the property and begin the work within ninety (90) days of the closing. In the event that permits are not obtained or work does not start within ninety (90) days of the closing, the funds in escrow shall be paid to the Township.
Effective Date. This Ordinance shall take effect upon final passage and publication as provided by law.