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Home My WebLink AboutResolution #1058 RESOLUTION NO. 1058 A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE CITY OF CANTON AND DECONTAMINATION SYSTEMS, INC. WHEREAS, the City of Canton, Illinois has entered into negotiations with Decontamination Systems, Inc. for the sale of 3.585 acres in the City's Enterprise Industrial District; and, WHEREAS, 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, 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 Decontamination Systems, Inc. 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 Mayor 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 immedi- ately 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/special meeting this 4th day of Decel~er , 19 84 upon a roll call vote as follows: AYES: Aldermen Kovachevich, ~~~amm~d, Savill, Sarf~, Worlanan, Carl, May, Horr. NAYS: None. ABSENT: None. APPROVED: ,~ ? `~ ~' Donald E. Edwards, Mayor. ATTEST: 1 ~ "' - "~ a cy ites, City Clerk. ~~ ~ ~~ J ~`I`ICI~S OF AG~:~~~~~'I', ~:~de as of this _4th day of December_ , 19 E4 between The City of Canton, an Illinois r~inicir~al corr~aratian, :~,~~r ;rafter callc~ "Seller", and Decontamination Systems, Inc. , an Illinois corp. , he~~-einafter called "Buyer" w~itncsseth, tt~,at, if the Buyer sraJ_1 first ;~-rke fhe ~K:y~~Jnts and ~rforrn the covc~,anrs hcreinafT~~r m~ntian~d on .its art tra be ?jade and perfo_~~d, the Seller hereby cover:~ants and agre:s to co_,vcy r;~rcrant- .~ble title to the Buyer by a ocrJd and sufficient Quit-cla.i~~? ~:~~~~,d, th= Iot, Dl~?~^?S, Or i ~rCel Of cJrOU_r)~, Si'~~a~~?C1 In one CltY Of Cc3T)LG?l, ~i~~r~)Ly O~ t~a1LOn and State of :Ill ~ r~eis, descri ~~.~d as f oll~;:as, to-wi_t: Lot Number .Twenty-two (22) of the Enterprise Industrial District pursuant to the Si~bdivis.ion Plat thereof filed in the Fulton County (Illinois) Recorder's Office on October 26, 1984, as Instru- ment Number 84-8960, subject to all 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 X22, all being situated in the City of Canton, County of Fulton and State of Illinois. EXHIFiIT "A" , RESOLUTION NO. 1~5R . A:~d t ~,e Buyer hereby conven~~ts and agrees to ray to the Sell er a t the office of the City Clerk, City Building, 210 Fast Chestnut Strut, C;~nton, Illinois 61520 the sum of Seventeen Thousand Nine Hundred Ttaenty-f.ive Dol]_ars ($17,925.00) in the manner following: The sum of $3,585.00 u~rx~n execution and delivery hereof, and, payments of $3,585.00 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 >n o~.~~-~er of record at date of conveyance shall be ftzrnis}x~d by Seller for examination by Buyer not less than thirty (30) days before the last scheduled ~~~yment. Both Seller and Buyer agree that the subject pro~:~rty i s ~:3rt of the I:,ilt~r- prise Industrial District Ding developed by Seller. Buyer ag?-c:~es to use t1~e above descr.i_hed real property only in conformity with City of C<~nton Zoning Ordinance (now codified as Title 10, Chapter 1 through 20, inc].us.ive, of the Canton Municipal Code) as the sa,,~ is now promulgated and as the :-x-3;;~ may hereafter be a;r~nded. Buyer agrees to use the above described real property in confol_inity with all applicable rules or regulations of the State of Illinois ~nv_rc;~;:~:kntsl Protection Agency, of the Federal Environrr~ntal Protection Agency, and of the Federal Aviation Administration (with respect to the height and plac~~-~nt of improvements on the subject rea_1 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 Fnte~rise Industrial District, of which the above described real property is a part. Buyer hereby irrevocably agrees that it shall take title to the above descri}:x~d real property subject to any and all such restrictive covenants or land use controls to be hereafter develo~r~ed by the City of Canton. Still, further, both Seller ar~d Buyer agree that part of the mutual ind~ict~.mes~ts forming a part of this Agreement is the creation and retention of jobs in the Enter- prise Industriisl District. Accordingly, Seller and Buyer both hereby agree that gross sales price set forth on Page 2 of this Agre~~ent shall be mod.if_red as follows: A sum equal to $359.00 multiplied by the rnunber 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 perrr~~nc~ntly fi_llc~d. _ -2- ;~, ~e rnL-;rlar of such ~~s=l:ar,~J~t rocs shall tea cei: ti f~ ~~d i~ ~ ~;~ ;' ;-;Y~n C.~ i:~~ Cc~.:nci l by the City of Canton's Cc~~r~.inity Develo~,--r~nt Dir~1~tor :mar,: =~.;~~r }",_r~ ~y ir:-ev,:~-.:bly agrees to abide by the nur-ioer of ~r;al-,ent jobs so c~~~rtfie-3. ;,~:v~~r a~r~a~s to ;-._x~;e its books and records available to the City of Canter., its officers and r~-~1_o-.°c•es for pu>:poses of such certification. Such r~dification shall be made by Snllc~r within. si_~ty (60) d,:ys after the fi-r_st ar,niversaiy of this _ .:-~-~nt. Se1I r shall, _. within such period, reirriaurso to Buyer t~-:at portion, if r~ny, of The cross _.~Ics prime, co;;~put~d as aforesaid, without .-il~terost, witi~ir~ s:~id sixiy (60) cay period. Notice 5ha11 be give to my Tarty hereto by L'u,ii~~d Si3t~~s I~"ai1, certi,=Ted ;ia11, rc?~:Ltrn :r~~elpt recT~;,r'sLi~d, a~-,d ca_i_.t _'cied i~.O ~ j~P IOlln,vl r,g ac):_]rc?.`_:s;?S• To Setler;~: City Clerk City Bui_].d~.ng 210 East C:r~s+~~ut St~rcet Canton, Ill.ir,ois 6157.0 r Any notice given to the Seller shall include an ;~-,lorTrational copy, Trailed as aforesaid, and addressed to the attention of t'~o City Attcl~-,`y at t'-,e <T:~ove stated address. To Buyer: Decontamination Systems, Inc. 121 East First Street Dixon, Illinois 61021 di r'I;R I;~~*.^,S ?_'~D CC~vDITIO'~S Ivot,altl.st.ynding the provisions of the s .z~c,rc~;=;r~-nt io-u?~d at Fage 2 hereof, the gross sales price set forth at Pace 2 of this Agre:~,~nt s'nall not ~ ,-codified so as to fall below a 7~dified press sales price of $ 7, 170.00 BOth Selier aTld Buyer COVe.,ant a'lC1 agree That T_'~e COV~'n~~?tS, t`riTS and CO?)dl- lions of this 'igr`er~~nt sha]_1 survive the clcsing herein cont~~_~rrplated and shall continue to be binding t ~DOn each of said parties. i-,oth Seller and Buyer irr~va~ably cove--nal~t and agree t=reat cart of ~e r,nstual consideration supporting this Agren~,~nt is the Buyer's agree:r~nt to either retain exisitnq jobs in the EnteLPri se Industrial District or ?'uyer's agre~~~~~nt 'moo create new jobs in the Enterprise Industrial District. In :ne event that tr,e Buyer has not created or retained those permanent jo'os repre.s~_nted by Buyer to Seller to be crc:~i-cad then Seller r-ay, in its sole and exclusive option, declare this Agree-~-~nt a nulity and enter u~~on and retake pos session of the aforesaid pre~r~is~es without notice to T?uyer ~`>>d w.ithr~ut process of law. -3- . ' __~~ _L ,;; '-' of _ __ yid in _ _ : ~.iT~~ ~ _ _ - r ^~;_1-~•,-~i,t 'v0. 4i- S~6Q 1S ;; ~I" - ~ : ~' - c l _ '~ ~j) ~ u .~ 7 - _. _ r - _ _ . _. __ ~ _. L 1~ ~ _,., :s ,_~` .. fully ._~_~ ,J_~ia- ted by refererr .^e. _ t . TN WI~"IvESS ~JHF~EOF, Seller and Buyer have ex~~uted duplicate originals of this Agreement for Sale of Real Estate as of the date first aoove-mentioned. ~L1=~'R: sr~r,T~~=:~: Decontamination Systems, Inc. , City of Canton, an Illinois ;~~_~nici~-.~l cor ;~L a ti on, BY: --------------- BY: -- Its rres~dent Its '~'~yor DA'L'E: .-------------- ------- JA'1~: I~B~~,'SS: 121 East First Street Tai=~2r5S: 210 Est Chestnut Si.reet Dixon, Illinois 61021 C~~;ton, Illinois 61.520 i-'_30'~7E: (815) 284-2288 p~3Cr~J~: (309} 64'7-0065/0020 ~-. ,-, 11r,ST: _ _ ?~i'i'L'ST: Corporate S~~c.ret:3ry ~ __ _ City Clerk (CC~?O t~.~ ~TF S ~G) (CCZ~-'O~~.A'I~ ~ ~_~L ) -4 ~~r,d 1.: rst -