Upon the approval of sale of a parcel by the President and Board of Trustees, the title of such property shall be transferred to the applicant by issuance of a quitclaim deed by the Village, as grantor, to the applicant-purchaser, as grantee. Fee simple title to the property shall be conveyed by the Village to the applicant in “as is, where is condition, including any environmental conditions existing in, on, or beneath the property”. The President or his proxy are authorized to execute, and the Village Clerk authorized to attest, quitclaim deeds conveying title to applicants upon approval by the President and Board of Trustees. The Village, at the applicant’s cost, shall record the deed with the office of the County Recorder of Deeds within 30 days of the date of sale. Conveyance of the property shall take place within 90 days of approval. If conveyance does not take place within the 90 days, the authority given by the President and Board of Trustees for conveyance of the property shall automatically terminate unless the time for conveyance has been extended in writing by mutual agreement of the parties. Upon such termination, the balance of the initial deposit, minus any out-of-pocket costs incurred by the Village prior to termination, shall be returned to the applicant.
(Ord. C0-02-17, passed 6-17-2002; Am. Ord. CO-2012-14, passed 8-21-2012)