HomeMy WebLinkAboutResolution #3189A I~E90LUT I pV APPf~1/ 1 NG AN A~Yf BE1M~]V Tif-E CITY aF CANf Ti~V AND T+(aA
DeuDTI' (d/ b/ a DBu1~IT TUNING) AND D 1 RE~Ci' I NG TI-E M4YCJR AND CITY CLF~i1C TO
D~QJTIE AND DEl_ I VER SAID AGfi~IT QV BE}~IAI.F OF Til-E C 1 TY aF Cr4NID,1,
ILL.INDIS.
Wt7~FAS, the City of Canton, Illinois has entered into
negotiations with Tom DeNbtt (d/b/a DeMott Towing) for the sale of
1.012 acres in the City's Enterprise Industrial District; and,
VIt~.AS, the City Council of the City of Canton, Illinois has
reviewed the terms of the proposed agreement, a copy of which is
hereto attached and made a part hereof as Exhibit "A"; and,
W-FLEAS, the City Council of the City of Canton has determined
that it is desirable and in the best interest of the City of Canton to
enter into said agreement.
NdaIV, ll-ET~EF~iE , Ir]E 1 T irZESOLVED 6Y T1Ff CITY QOINC 1 L aF T11-E CITY aF
G41YTiaV, Fulton County, I l l inois as follows:
1. That the agreement between the City of Canton and Tom Deivbtt
(dlb/a DeiVbtt Towing) which is attached hereto and made hereof as
Exhibit "A", is hereby approved, said Agreement to be subject to and
effective pursuant to the terms and conditions set forth therein.
2. That the Mayor and City Clerk are hereby authorized and
directed to execute and deliver said agreement on behalf of the City
of Canton, Illinois.
3. That this Resolution shall be in full force and effect
immediately upon its passage by the City Council of the City of
Canton, Illinois.
PASSED by the City Council of the City of Canton, Fulton County,
Illinois at a regular meeting this 7th day of September , 1993
upon a roll call vote as follows:
AYES: Aldermen Molleck, Phillips, Sarff, Meade, Bohler, Chapman.
NAYS : Alderman. May .
ABSENT : Alderman. Coay .
AP
Donald E. Edwards, Mayor
ATTEST:
Nancy Whites City Clerk
A~VT PD.
A[~imuEM FOft SALE OF NEJ4L (ESTATE
ARTICLES OF AGREFaiEN~, made as of this day of ,
1993 between the City of Canton, an Illinois municipal corporation,
hereinafter called "Seller", and Tom DeiVbtt (d/b/a Delvbtt Towing),
hereinafter called "Buyer" witnesseth, that, if the Buyer shall first
make the payments and perform the covenants hereinafter mentioned on
its part to be made and performed, the Seller hereby covenants and
agrees to convey merchantable title to the Buyer by a good and
sufficient Quit-Claim Deed, the I~ot, pieces, or parcel of ground,
situated in the City of Canton, County of Fulton and State of
Illinois, described as follows, to-wit:
Lot Number Nine (9) of the Enterprise Industrial District,
EXCEPT the north 200.0 feet of Lot Number Nine (9) plus the
east 20.0 feet of the remaining south part of Lot Number
Nine (9) of the Subdivision of Enterprise Industrial
District dated October 18, 1984 as Instrument Number
84-8960, containing 1.012 acres, more or less, subject to
all present and future easements of record and, further,
subject to all restrictive covenants and/or land use
controls which Seller, or, Seller's successors and assigns
may place on said lot, ail of the foregoing real property
being situated in the City of Canton, County of Fulton and
State of Illinois.
And the Buyer hereby covenants and agrees to pay to the Seller at
the office of the City Clerk, City Building, 210 East Chestnut Street,
Canton, Illinois 61520 the sum of Five Thousand Sixty Dollars
($5,060.00) in the following manner: The sum of $1,012.00 upon
execution and delivery hereof, and, payments of $1,012.00 each on or
before the first, second, third, and fourth anniversary date of this
agreement.
Possession to be given upon execution and delivery hereof. A
title insurance policy in owner of record at date of conveyance shall
be furnished by Seller for examination by Buyer not less than thirty
(30) days before the last scheduled payment.
Both Seller and Buyer agree that the subject property is part of
the Enterprise Industrial District being developed by Seiler. Buyer
agrees to use the above described real property only in conformity
with City of Canton Zoning Ordinance (now codified as Title 10,
Chapter 1 through 20, inclusive, of the Canton Municipal Code) as the
same is now promulgated and as the same may hereafter be amended.
Buyer agrees to use the above described real property in conformity
with all applicable rules or regulations of the State of Illinois
environmental Protection Agency, of the Federal Environmental
Protection Agency, and of the Federal Aviation A~ninistration (with
respect to the height and placement of improvements on the subject
real property, as well as other associated matters).
Buyer recognizes that Seller is now in the process of developing
restrictive covenants and other land use controls to be hereafter
applied to the Enterprise Industrial District, of which the above
described real property is a part. Buyer hereby irrevocably agrees
that it shall take title to the above described real property subject
to any and ail such restrictive covenants or land use controls to be
hereafter developed by the City of Canton.
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Still, further, both Seller and Buyer agree that part of the
mutual inducements forming a part of this Agreement is the creation
and retention of jobs in the Enterprise Industrial District.
Accordingly, Seller and Buyer both hereby agree that gross sales price
set forth on Page 1 of this Agreement shall be modified as follows: A
sum equal to $101.20 multiplied by the number of permanent jobs
created by Buyer one year from the date hereof shall be deducted from
the aforesaid gross sale price. For purposes of this paragraph, a
"permanent job" shall be any job created by the Buyer and reported to
the State of Illinois by Buyer for State Income Tax purposes on the
first anniversary of this Agreement which is then permanently filled.
The number of such permanent jobs shall be certified to the Canton
City Council by the City of Canton's Community Development Director
and Buyer hereby irrevocably agrees to abide by the number of
permanent jobs so certified. Buyer agrees to make its books and
records available to the City of Canton, its officers and employees
for purposes of such certification. Such modification shall be made
by Seller within sixty (60) days after the first anniversary of this
Agreement. Seller shall, within such period, reimburse to Buyer that
portion, if any, of the gross sales price, computed as aforesaid,
without interest, within said sixty (60) day period,
Notice shall be given to any party hereto by United States mail,
certified mail, return receipt requested, and directed to the
following addresses:
To Seller: City Clerk
City Building
210 East Chestnut Street
Canton, Illinois 61520
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Any notice given to the Seller shall Include an informational
copy, mailed as aforesaid, and addressed to the attention of the city
Attorney at the above stated address.
To Buyer: Tom DeNbtt (d/b/a DeMott Towing)
430 North 11th Avenue
Canton, Illinois 61520
OTi-iER TERAAS AND OOPD I T I DNS
Notwithstanding the provisions of this Agreement found at Page 1
hereof, the gross sales price set forth at Page 1 of this Agreement
shall not be modified so as to fall below a modified gross sales price
of $2,2024.00.
Both Seller and Buyer covenant and agree that the covenants,
terms and conditions of this Agreement shall survive the closing
herein contemplated and shall continue to be binding upon each of said
parties.
Both Seller and Buyer irrevocably covenant and agree that part of
the mutual consideration supporting this Agreement is the Buyer's
agreement to create existing Jobs in the Enterprise Industrial
District or Buyer's agreement to create new jobs in the Enterprise
Industrial District. In the event that the Buyer has not created or
retained those permanent jobs represented by Buyer to Seller to be
created then Seller may, in its sole and exclusive option, declare
this agreement a nullity and enter upon and retake possession of the
aforesaid premises without notice to Buyer and without process of law.
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Buyer shall from the date hereof and during the pendency of this
agreement pay all general real estate taxes on the above described
premises and pay all special assessments thereon, if any, saving
Seller whole and harmless therefrom.
IN WITNESS WI-F7~EOF, Seller and Buyer have executed duplicate
originals of this Agreement for Sale of Real Estate as of the date
first above-mentioned.
BUYER:
Tom DeMbtt (d/b/a DeNbtt Towing)
SELLER:
City of Canton, an Illinois
municipal corporation,
BY:
Tom DeMott
DjATE
ADDRESS: 430 North 11th Avenue
Canton, Illinois 61520
PI-i01~E : ( 309 ) 647-1455
BY:
Its Mayor
DATE
ADDRESS: 210 East Chestnut Street
Canton, Illinois 61520
PI-{DI~E: (309) 647-0065/0020
ATTEST:
City Clerk
(OORPORATE SEAL)
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