HomeMy WebLinkAboutResolution #1141
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RESOLUTION NO. 1141
A RESOLUTION AMENDING RESOLUTION NUMBER 1136 , ENTITLED: "A
RESOLUTION APPROVING AN AGREEMENT BETWEEN TY.E CITY OF CANTON
AND B & K SPECIALTY CASTING COMPANY, A MISSOURI CORPORATION"
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WHEREAS, the Canton City Council has previously approved a
certain "Agreement For Deed" relating to Lot Number 18 in the
Enterprise Industrial District by Resolution Number 1136; and,
WHEREAS, the Illinois Department of Commerce and Community
Development now requires the insertion of certain additional
terms and conditions to said agreement; and,
WHEREAS, the Canton City Council has determined that it is
necessary and in the best interest of the City of Canton to amend
Resolution Number 1136 and the Agreement For Deed approved by
said Resolution.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CANTON, Fulton County, Illinois, as follows:
1. That the foregoing recitals are hereby found to be fact.
2. That Resolution Number 1136 , passed and approved on
January 24, 1986, is hereby amended.
3. That the "Agreement For Deed" relating to Lot Number 18
in the Enterprise Industrial District approved by Resolution
Number 1136 is hereby amended by the insertion of the attached
Exhibit A, herein fully incorporated by reference, as replacement
page number 5 of said Agreement.
4. That in all other respects Resolution Number 1136 and
the Agreement For Deed approved thereby are each hereby reapproved,
reaffirmed, and ratified.
5. 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 4th day of FPhrliary
1986, upon a roll call vote as follows:
AYES: Aldermen Chapman, May, Bohler, Workman, Sarff, Steck,
Zilly.
NAYS: None,
ABSENT: Alderman Kovacehvich.
APPROVED:
onald E. Edwards, Mayor.
ATTEST:
an y Whit s, City Clerk.
of this Agreement contains 4.914acres, more or less, and that such aeasurt
of acreage is not precise. Accordingly, Buyer agrees to accept a deed to
property in substantially the configuration as set forth in Exhibit A hereto
attached, which total area shall not vary by lOX from 4.914aczes in area.
The parties recognize and agree that a more accurate and precise Tegal
description shall be forthcoming when the industrial site or park, of which
the above described real property is a part, is officially subdivided and
' filed of record with the Fulton County Recorder.
h otice 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 as informational copy, mailed
as aforesaid, and addressed to the attention of the City Attorney at the
above stated address.
To Buyer: .~B & K Specialty Casting Co.
c/o Farmers Stats Bank of Fulton County
ATI:~T: 2ir. R. ~J. Ketchum - -
Box 231
Lewistown, IL. 61542
OTHER TERNS AND CONDITIONS:
Notwithstanding the provisions of this Agreement found at page 3 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 S9, 828.00.
The annual payments provided for at page 2 of this Agreement shall be
proratably reduced as of the first anniversary of this Agreement in the same
ratio as the modified sales price set forth at page 3 of this Agreement bears
to the gross sales price set forth at page 2 of this Agreement.
• This Agreement is contingent upon the release of tine environmental
review requirement and all other special grant conditions governing
the Community Development Assistance Grant between the Illinois
Department of Commerce and Community Affairs and the Cit1~ of
Canton.
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EX~iIBIT A,
Eesolution i~1o.