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HomeMy WebLinkAboutResolution #2005RESOLUTION N0. 2005 A RESOLUTION APPROVING AN AGREEMENT ENTITLED "AN AGREEMENT FOR SALE OF REAL ESTATE" BETWEEN THE CITY OF CANTON AND D-J ENTERPRISES, AND DIRECTING THE MAYOR AND CITY CLERK TO EXECUTE AND DELIVER SAID AGREEMENT ON BEHALF OF THE CITY OF CANTON, ILLINOIS. WHEREAS, the City of Canton, Illinois has entered into negotiations with D-J Enteprises for the sale of 2.252 acres in the City's Enterprise Industrial District; and, WHEREAS, the City Council of the City of Canton, Fulton County, 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, WHEREAS, the City Council of the City of Canton, Illinois has determined that it is desireable and in the best interest of the City of Canton to enter into said agreement. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CANTON, Fulton County, Illinois as follows: 1. That the Agreement between the City of Canton and D-J Enterprises, which is attached hereto and made a part 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 flavor and City Clerk are hereby authorized and directed to execute and deliver said Agreement on behalf of the City of Canton. 3. That this Resolution shall be in full force and effect immediately upon its passage by the City Council of the City of Canton, Fulton County, Illinois and approval by the Mayor thereof. PASSED by the City Council of the City of Canton, Fulton County, Illinois at a regular meeting this 21 day of July 1987, upon a roll call vote as follows: AYES: Aldermen Chapman, May, Bohler, Meade, Sarff, Zilly, Kovachevich. NAYS: None. ABSEPJT: Alderman Steck. APPROVED: ~' ATTEST: onald E. Edwards, ayor a i ,ty er AG~VT FOR SALE OF RFAL ESTATE ARTICLES OF AGREE[~VT, made as of this day of , 19 87 between The City of Canton, an Illinois municipal corporation, hereinafter ~b-J Enterprises, a partnershhipp Compposed xc1u ivel of called "Seller", and D.gnni s 4J; Uawson and Jerrv Jal^ni Qah. eac~i of ~anto~i, Ill i hoi s hereinafter called "Buyer" witnesseth, that, if the Buyer shall first make the payments aryl perform the owenants hereinafter mentioned on its part to be made and performed, the Seller hereby covenants and agrees to convey merchant- able title to the Buyer by a good and sufficient Quit-claim Deed, the lot, pieces, or parcel of ground, situated in the City of Canton, Cauity of Fulton and State of Illinois, described as follows, to-wit: Lot Number Eight (8) of the Subdivision Plat of the Enterprise Industrial District, dated October 26, 1984 and filed of record on October 26, 1984 as Instrument Number 84-8960 at Slide 125, subject to all present and future ease- ments, covenants and restrictions, all of the foregoing real property being situated in the _ City of Canton, Fulton County, 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 Eleven Thousand Two Hundred Sixty Dollars ($ 11,260.00) in the manner following: The sum of Eleven Thousand Two Hundred Sixty Doll r (S 11.260.00 ), cash, at closing with closing to be within 90 days of execution o ~ssesgsione~o'be given immediately. A title insurance policy in owner of record at date of oociveyance shall be furnished by Seller for examination by Buyer not less than seven (7) days before closing. Both Seller and Buyer agree that the subject property is part of the Ent- _ erprise Industrial District being developed by Seller. 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 CantorsNhinicipal Code) as the same is now pranulgated and as the same may here- after be amended. Buyer agrees to use the above described real property in conformity with all applicable rules or regulations of the State of Illinois Envirorurnntal Protection Agency, of the Federal Environmental Protection Agency, and of the Federal Aviation Administation (with respect to the height and place- ment of i~raveic~ents 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 r~termr- ise 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 all such restrictive covenants or land use con- trols to be hereafter developed by the City of Cantors. Still, further, both Seller and Buyer agree that part of the mutual induce- ments forming a part of this Agreement is the creation and retention of jobs in the ~terprise Industrial District. Accordingly, Seller and nvyer both hereby agree that the gross sales price set forth on Page 2 of this Agreement shall be modified as follows: A sum equal to $225.20 multiplied by the nimiber of permanent jabs created by Buyer one year from the date hereof shall be deducted from the aforesaid gross sale price. For purposes of this paragraph, a "pesi-~nent job" shall be any job created by the Buyer and reported to the State of Illinois by ~3uyer for State Inoom~e Tax purposes cn the first anniversary of this Agreement which is then permlr~ently filled. , -2- The number of such permanent jabs shall be certified to the Canton City Cau~cil by the City of Canton's Cotmuiity Development Director and Buyer hereby irrevocably agrees to abide by the number of permanent jobs so certified. F3uyer agrees to make its books and records available to the City of Canton, its officers and employees for purposes of such certificatirn. Such modification shall be made by Seller within sixty (60) days after the first anniversary of this Agree:rient. Seller shall, within such period, reimburse to Buyer that portirn, if any, of the gross sales price, ooaputed 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 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. ~ guys; D-J Enterprises Opportunity Lane - - Canton, Illinois 61520 -~ C-I'f~R Z~2NLS AND C(~IDITICNS: Notwithstanding the provisions of this Agr~t found at Page 2 hereof, the gross sales price set forth at Page 2 of this Agreement shall not be modified so as to fall below a modified gross sales price of 52,000.00 per acre, or, $4,504.00. Both Seller and Buyer covP,nant and agree that the covenants, terms and ccndi- ticazs of this Agreernnt shall survive the closing herein contemplated and shall continue to be binding uprn each of said parties. -J~ A copy of the subdivision plat of the Enterprise Industrial District dated October 18, 1984 and filed of recor3 in the Fulton County Recorder's Office on October 26, 1984 as Instrument No. 84-8960 is hereto attached as Exhibit "A" and is herein fully incorporated by reference. Both Seller and Buyer intend that this Agreement shall be super- ceded by a similar agreement relating to Lots 8, 9, 10 and 11 of said Enterprise Industrial District. Accordingly, upon full execution of such agreement within 90 days of the execution of this Agreement, this Agreement shall become null and void and of no force and effect. However, in the event that a subsequent, similar agreement is not reached and fully executed by Seller and Buyer with respect to said Lots 8, 9, 10 and 11 within 90 days of the execution of this Agreement, than this Agreement shall remain in full force and effect and shall control and govern the sale - purchase of said Lot Number 8 by Seller - Buyer. The 90 day period provided for in this paragraph and at Page 2 of this Agreement may be extended by mutual written agreement of Seller and Buyer. IN WITNESS WHEREOF, Seller and Buyer have executed duplicate originals of this Agreement For Sale Of Real Estate as of the date first above- mentioned. BUYER: SELLER: D - J Enterprises, a City of Canton, an Illinois municipal partnership composed corporation, BY: exclusively of Dennis W. Dawson and Jerry . Jarnigan, BY: Dona E. E war s, Mayor. ennis W. Dawson and ATTEST: Jerry Jarnigan, each on behalf ancy rtes, ity er of said partnership and individ- ~ial7v. -li- RESOLUTION N0. 2005 A RESOLUTION APPROVING AN AGREEMENT ENTITLED "AN AGREEMENT FOR SALE OF REAL ESTATE" BETWEEN THE CITY OF CANTON ANO D-J ENTERPRISES, AND DIRECTING THE MAYOR AND CITY CLERK TO EXECUTE AND DELIVER SAID AGREEMENT ON BEHALF OF THE CITY OF CANTON, ILLINOIS. WHEREAS, the City of Canton, Illinois has entered into negotiations with D-J Enteprises for the sale of 2.252 acres in the City's Enterprise Industrial District; and, WHEREAS, the City Council of the City of Canton, Fulton County, 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, WHEREAS, the City Council of the City of Canton, Illinois has determined that it is desireable and in the best interest of the City of Canton to enter into said agreement. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CANTON, Fulton County, Illinois as follows: 1. That the Agreement between the City of Canton and D-J Enterprises, which is attached hereto and made a part 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 P•layor and City Clerk are hereby authorized and directed to execute and deliver said Agreement on behalf of the City of Canton. 3. That this Resolution shall be in full force and effect immediately upon its passage by the City Council of the City of Canton, Fulton County, Illinois and approval by the Mayor thereof. PASSED by the City Council of the City of Canton, Fulton County, Illinois at a regular meeting this 21 day of J m y 1987, upon a roll call vote as follows: AYES: Aldermen Chapman, May, Bohler, Meade, Sarff, Zilly, Kovachevich. NAYS: None. ABSENT: Alderman Steck. APPROVED: ~~~ ~~~;~ ATTEST: onald E. Edwards, Mayor i a i ~ ty er AGI' FOR SALE OF REAL ESTATE ARTIC,LF~ OF AGE, made as of this ~~~` day of ~ , 19 87 between The Ci of Canton, an Illinois municipal corporation, hereinafter called "Seller", an,d~~J Enterprises, a Rartnersbip composed exclusively of hereinafter called "Buyer" witnesseth, that, if the Buyer shall first make the payments and perform the oavenants hereinafter mentioned on its part to be made and perfoumed, the Seller hereby covenants and agrees to convey merchant- able title to the Buyer by a good and sufficient Quit-claim Deed, the lot, pieces, or parcel of ground, situated in the City of Canton, County of Fulton and State of Illinois, described as follows, t:a-wit: cis Lot Number Eight (8) of the Subdivision Plat of the Enterprise Industrial District, dated October 26, 1984 and filed of record on October 26, 1984 as Instrument Number 84-8960 at Slide 2 1 ~ subject to all present and future ease- ments, covenants and restrictions, all of the foregoing real property being situated in the _ City of Canton, Fulton County, 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 Eleven Thousand Two Hundred Sixty Dollars ($ 11,260.00) in the maruier following: The sum of Eleven Thousand Two I~ndred Sixty D liar ($ 11.260.00 ), cash, at closing with closing to be within 90 days of executioE o ~ssesgsione~S'be given irrgnediately. A title insurance policy in owner of record at date of conveyance shall be furnished by Seller for examination by Buyer not less than seven (7) days before closing. Both Seller and Buyer agree that the subject property is part of the Ent- erprise Industrial DS.atrict being developed by Seller. Buyer agrees to use the above described real property only in cazformity 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 here- after be amended. Buyer agrees to use the above described real property in conformity with all applicable rules or regulations of the State of Illinois Enviro~nental Protection Agency, of the Federal r~vironmental Protection Agency, and of the Federal Aviation Administation (with respect to the height and place- ment 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 ooaltrols to be hereafter applied to the r~termr- ise Industrial District, of which the above described real property is a part. Buyer hereby in~~vocably agrees that it shall take title to the above described real property subject to any and all such restrictive covenants or land use ccci- trols to be hereafter developed by the City of Canton. Still, further, both Seller and Buyer agree that part of the mutual induce- ments forming a part of this Agreement is the creation and retention of jabs in the ~terprise Industrial District. Accordingly, Seller and 'alliyer both hereby agree that the gross sales price set forth on Page 2 of this Agreement shall be modified as follows: A sum equal to $225.20 multiplied by the number of permanent jabs created by Buyer one year from the date hereof shall be deducted from the aforesaid gross sale price. For purposes of this paragraph, a "pern~nent jab" shall be any job created by the Buyer and reported to the State of Illinois by ,Buyer for State Inaxne Tax purposes an the first anniversary of this Agreement which is then permar~e~tly filled. , -2- I ~ ' ,1 i The number of such perimanent jobs shall b2 certified to the Canton City Council by the City of Canton's Camiuiity Development Director and Buyer hereby irre~wc.ably agrees to abide by the nuirber of perntianent jobs so certified. Huger 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, ooctputed 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 ('testnut Street Canton, Illinois 61520 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. ~ Buy,; D~J Enterprises , Opportunity Lane - - Canton, Illinois 61520 ~~ OR'}~t Z~LS AND C'CrIDITICt1S: Notwithstanding the provisions of this Agr~t found at Page 2 hereof, the gross sales price set forth at Page 2 of this Agreement shall not be modified so as to fall below a modified gross sales price of S 2,000.00 per acre, or, X4,504.00. Both Seller and Buyer cwer~ant and agree that the its, terms and ccndi- tiazs of this Agreement shall survive the closing herein contemplated and shall cce~tinue to be binding upon each of said parties. ~J~ . . " ~. A copy of the subdivision plat of the Enterprise Industrial District dated October 18, 1984 and filed of recor3 in the Fulton County Recorder's Office on October 26, 1984 as Instrument No. 84-8960 is hereto attached as Exhibit "A" and is herein fully incorporated by reference. Both Seller and Buyer intend that this Agreement shall be super- ceded by a similar agreement relating to Lots 8, 9, 10 and 11 of said Enterprise Industrial District. Accordingly, upon full execution of such agreement within 90 days of the execution of this Agreement, this Agreement shall become null and void and of no force and effect. However, in the event that a subsequent, similar agreement is not reached and fully executed by Seller and Buyer with respect to said Lots 8, 9, 10 and 11 within 90 days of the execution of this Agreement, than this Agreement shall remain in full force and effect and shall control and govern the sale - purchase of said Lot Number 8 by Seller - Buyer. The 90 day period provided for in this paragraph and at Page 2 of this Agreement may be extended by mutual written agreement of Seller and Buyer. IN WITNESS tJHEREOF, Seller and Buyer have executed duplicate originals of this Agreement For Sale Of Real Estate as of the date first above- mentioned. BUYER: D a J Enterprises, a partnership composed exclusively of Dennis W. D son and ry . Ja i an, B ennis W. Dawson and SELLER: City of Canton, an Illinois municipal corP9}ration, BY: . ~awaras, mayor. ATTEST: J rr igan each on beha f - of said partnership and individ- ually. _t,_