HomeMy WebLinkAboutOrdinance #4474 - Redevelopment Agreement with Encore Dance Academy/West Locust Canton/Angela Orwig CERTIFICATE
THE UNDERSIGNED CERTIFIES THAT SHE IS THE CITY CLERK FOR THE CITY
OF CANTON, ILLINOIS, AND THAT THE CITY COUNCIL AT A REGULARLY
CONSTITUTED MEETING OF SAID CITY COUNCIL OF THE CITY OF CANTON ON THE
3RD DAY OF JUNE, 2025, ADOPTED ORDINANCE NO. 4474, A TRUE AND CORRECT
COPY OF WHICH IS CONTAINED IN THIS PAMPHLET.
GIVEN UNDER MY HAND AND SEAL THIS 3RD DAY OF JUNE, 2025.
(SEAL)
NDREA ITH-WALTERS
ITY CLERK
CITY OF CANTON, ILLINOIS
ORDINANCE NO. 4 4 7 4
AN ORDINANCE APPROVING AND AUTHORIZING THE EXECUTION OF A
REDEVELOPMENT AGREEMENT
by and between
THE CITY OF CANTON, FULTON COUNTY, ILLINOIS
and
ENCORE DANCE ACADEMY,L.L.C.
and
WEST LOCUST CANTON,L.L.C.
and
ANGELA ORWIG
PASSED BY THE CITY COUNCIL
OF THE CITY OF CANTON,FULTON COUNTY,ILLINOIS,
ON THE 3RD DAY OF JUNE,2025.
PUBLISHED IN PAMPHLET FORM BY AUTHORITY OF THE CITY
COUNCIL OF THE CITY OF CANTON,FULTON COUNTY, ILLINOIS,
THIS 312D DAY OF JUNE,2025'.
EFFECTIVE: JUNE 3, 2025
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CITY OF CANTON, ILLINOIS: ORDINANCE NO. 4474
CANTON 2—RT. 9/CHESTNUT ST.
TAX INCREMENT FINANCING (TIF) DISTRICT
and
CANTON BUSINESS DEVELOPMENT DISTRICT (BDD) NO. 1
AN ORDINANCE APPROVING AND AUTHORIZING
THE EXECUTION OF A REDEVELOPMENT AGREEMENT
by and between
THE CITY OF CANTON
and
ENCORE DANCE ACADEMY,L.L.C.
and
WEST LOCUST CANTON,L.L.C.
and
ANGELA ORWIG
BE IT ORDAINED BY THE CITY OF CANTON, FULTON COUNTY, ILLINOIS
THAT:
1. The Redevelopment Agreement with Encore Dance Academy, L.L.C. and Angela Orwig
(Exhibit A attached) is hereby approved.
2. The Mayor is hereby authorized and directed to enter into and execute on behalf of the City
said Redevelopment Agreement and the City Clerk of the City of Canton is hereby
authorized and directed to attest such execution.
3. The Redevelopment Agreement shall be effective the date of its approval on the 3 d day of
June,2025.
4. This Ordinance shall be in full force and effect from and after its passage and approval as
required by law.
(The remainder of this page is intentionally left blank.)
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PASSED, APPROVED AND ADOPTED by the Corporate Authorities of the City of Canton,
Fulton County, Illinois, on the 3 d day of June,2025, and deposited and filed in the Office of the City
Clerk of said City on that date.
MAYOR&ALDERMEN AYE VOTE NAY VOTE ABSTAIN/ABSENT
Dave Pickel X
Andra Chamberlin X
Patrick Ketcham X
Ralph Grimm X
Greg Gossett X
Justin Nelson X
John Lovell X
Angela Hale X
Kent A.McDowell,Mayor X
TOTAL VOTES
APPROVED: Date: /—t/2025
Ken A. cDowell, Ma , City of Canton
ATTEST: / , Date: /2025
n4eami -Walters, City Clerk, City of Canton
ATTACHMENTS:
EXHIBIT A. REDEVELORNIENT AGREEMENT BY AND BETWEEN THE CITY OF CANTON AND
ENCORE DANCE ACADEMY,L.L.C.WEST LOCUST CANTON,L.L.C.AND ANGELA ORWIG.
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EXHIBIT A
CANTON 2—RT. 9/CHESTNUT ST.
TAX INCREMENT FINANCING (TIF) DISTRICT
and
CANTON BUSINESS DEVELOPMENT DISTRICT (BDD) NO. 1
REDEVELOPMENT AGREEMENT
by and between
THE CITY OF CANTON
and
ENCORE DANCE ACADEMY,L.L.C.
and
WEST LOCUST CANTON, L.L.C.
and
ANGELA ORWIG
5
CANTON 2 - RT. 9/CHESTNUT ST.
TAX INCREMENT FINANCING DISTRICT
and
CANTON BUSINESS DEVELOPMENT DISTRICT NO. 1
REDEVELOPMENT AGREEMENT
by and between
CITY OF CANTON, FULTON COUNTY, ILLINOIS
and
ENCORE DANCE ACADEMY,L.L.C.
and
WEST LOCUST CANTON, L.L.C.
and
ANGELA ORWIG
i
JUNE 3, 2025
CANTON 2—RT. 9/CHESTNUT ST. TIF DISTRICT and CANTON BDD NO. 1
REDEVELOPMENT AGREEMENT
by and between
CITY OF CANTON
and
ENCORE DANCE ACADEMY, L.L.C.
and
WEST LOCUST CANTON, L.L.C.
and
ANGELA ORWIG
THIS REDEVELOPMENT AGREEMENT (including Exhibits) is entered into this 15`h
day of April, 2025, by the City of Canton (the "City"), an Illinois Municipal Corporation, Fulton
County, Illinois, and Encore Dance Academy, L.L.C., an Illinois Limited Liability Company, and
West Locust Canton,L.L.C.,an Illinois Limited Liability Company,and Angela Orwig,individually
(collectively the "Developer"). Hereinafter the City and the Developer, for convenience, may
collectively be referred to as the"Parties".
PREAMBLE
WHEREAS, the City has the authority to promote the health, safety, and welfare of the City
and its citizens and to prevent the spread of blight and deterioration and inadequate public facilities
by promoting the development of private property thereby increasing the tax base of the City and
providing employment for its citizens; and
WHEREAS, pursuant to 65 ILCS 5/8-1-2.5, a municipality may appropriate and expend
funds for economic development purposes, including without limitation for commercial enterprises
that are deemed necessary or desirable for the promotion of economic development within the
community; and
WHEREAS, pursuant to the Tax Increment Allocation Redevelopment Act, 65 ILCS 5/11-
74.4.4 et. seq., as amended (the "TIF Act"), the City has the authority to provide incentives to owners
or prospective owners of real property to develop, redevelop, and rehabilitate such property by
reimbursing the owners for certain costs from resulting increases in real estate tax revenues; and
WHEREAS, on February 6,2012,recognizing the need to foster the development,expansion
and revitalization of certain properties which are vacant, underutilized, or undeveloped, the City
adopted Tax Increment Financing under the TIT Act, approved a Redevelopment Plan, and
designated a Redevelopment Area known as the"Canton 2—Rt. 9/Chestnut St.TIF District" and
hereinafter referred to as the "TIF District"); and
WHEREAS, property located at 1000 W. Locust St., Canton, Illinois, (PIN 09-08-28-300-
010, hereinafter referred to as the "Property" and further described in Exhibit "1"attached hereto)
was acquired by the Developer in 2024 and is located within the TIF District Redevelopment Project
Area; and
WHEREAS, said Property is also located within the City of Canton Business Development
District (BDD) No. 1 Redevelopment Project Area, which was established by the City on March 15,
2022, by Ordinance No. 4281,Amended on September 20, 2022 by Ordinance No. 4307 and further
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ratified on October 25, 2022 by Ordinance No. 4315, all pursuant to the Business District
Development and Redevelopment Act, 65 ILCS 5/11-74.3 et. seq. (the "BDD Act"); and
WHEREAS, pursuant to the BDD Act, the City has the authority to incur eligible business
district project costs and may enter into agreements with developers to reimburse them for their
eligible business district project costs; and
WHEREAS, the Developer has acquired the Property and intends to repair, renovate and
rehabilitate the commercial building located thereon for operation of the `Encore Dance Academy"(the
"Project"), and the Developer has secured the Property Landlord's consent for undertaking the
Project based upon incentives made available by the City;and
WHEREAS, it is the intent of the City to encourage economic development which will
increase the real estate tax base of the City,which increased incremental taxes will be used,in part, to
finance incentives to assist development within the TIF District;and
WHEREAS, the Developer's proposed Project is consistent with the TIF District
Redevelopment Plan and Projects for the Redevelopment Project Area and shall further conform to
the land uses of the City as adopted; and
WHEREAS,pursuant to Section 5/11-74.4-4(b) of the TIF Act, the City may make and enter
into all contracts with property owners, developers, tenants, overlapping taxing bodies, and others
necessary or incidental to the implementation and furtherance of the Redevelopment Plan;and
WHEREAS, pursuant to Section 5/11-74.4-4(j) of the TIF Act, the City may incur project
redevelopment costs and reimburse developers who incur redevelopment project costs authorized by
a redevelopment agreement and further defined in Section 5/11-74.4-3(q) of the TIF Act, including
those Estimated TIF Eligible Project Costs as herein listed in the attached Exhibit "1" of this
Redevelopment Agreement; and
WHEREAS, the Developer requested that incentives for the development be provided by
the City from incremental increases in real estate taxes of the City generated from its Project and the
City agreed to such incentives; and
WHEREAS, the City has determined that this Project required the incentives requested as
set forth herein and that said Project will, as a part of the Plan,promote the health, safety and welfare
of the City and its citizens by attracting private investment to prevent blight and deterioration and to
generally enhance the economy of the City; and
WHEREAS, the City has reviewed the conditions of the Property and has reason to believe
that the costs of the necessary public and private improvements to be incurred by the Developer in
furtherance of the Project are eligible project costs under the TIF Act and BDD Act and are consistent
with the Redevelopment Plans of the City; and
WHEREAS, the City and the Developer have agreed that the City shall reimburse the
Developer's TIF and BDD Eligible Project Costs (as set forth in Exhibit "1"attached hereto) up to
a total amount not to exceed Two Hundred Fifty Thousand and No/100 Dollars ($250,000.00)
as specified below in Section "C' Incentives; and
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WHEREAS, the Parties have agreed to the incentives set forth herein in order to facilitate
the Project; and
WHEREAS, in consideration of the execution of this Agreement, the Developer shall
proceed with and complete the Project as set forth in Exhibit "1;"and
WHEREAS, the City is entering into this Agreement having encouraged and induced the
Developer to proceed with the Project located on said Property.
AGREEMENTS
NOW,THEREFORE,the Parties,for good and valuable consideration,the receipt of which
is acknowledged, agree as follows:
A. PRELIMINARY STATEMENTS
1. The Parties agree that the matters set forth in the recitals above are true and correct and form
a part of this Agreement.
2. Any terms which are not defined in this Agreement shall have the same meaning as they do in
the TIF Act, unless indicated to the contrary.
3. The Developer shall remain in compliance with all municipal ordinances relating to property
development,property condition, zoning, subdivision and building codes. Failure to cure the
violation of any such ordinance within thirty (30) days upon being provided written notice of
the same by the City shall be cause for the City to declare the Developer in Default and
unilaterally terminate this Agreement, except where such failure is not reasonably susceptible
to cure within such 30-day period,in which case the Developer shall have such additional time
to cure as is reasonably necessary, provided that the Developer has commenced such cure
within such 30-day period and continues to diligently prosecute the same to completion.
4. The Developer shall complete the Project within twelve (12) months from the date this
Agreement is executed, subject to extension due to Force Majeure(defined below). The Project
shall be deemed to be complete when the repairs, renovations, and rehabilitation of the
building located on the Property (Exhibit "1") have been completed and the Encore Dance
Academy is operating and open to the public.
5. Each of the Parties represents that it has taken all actions necessary to authorize its
representatives to execute this Agreement.
B. ADOPTION OF TAX INCREMENT FINANCING AND BDD
The City has created a Tax Increment Financing District known as Canton 2—Rt. 9/Chestnut
St.TIF District"and a Business Development District knows as"Canton BDD No. 1",both of which
include the Developer's Property. The City has approved certain Redevelopment Project Costs,
including the types described in Exhibit "1"for the Developer's Project.
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C. INCENTIVES
In consideration for the Developer purchasing the Property and completing the Project as set
forth herein, including the expenditure of not less than $1,000,000 of TIF Eligible Project Costs for
repairs, renovations and rehabilitation of the commercial building located on the Property, the City
agrees to extend to the Developer the following incentives to assist the Developer's Project:
1. The City agrees to reimburse the Developer Seventy-Five Percent(75%) of the annual"net"
real estate tax increment generated by the Project for the current remaining life of the TIF
District, through tax year 2035 payable in 2036, not to exceed a total of Seventy-Five
Thousand Dollars ($75,000.00) for the Developer's TIF Eligible Project Costs related to
professional fees, interior and exterior repairs and renovations, as set forth in Exhibit 1 and
which are verified pursuant to Section E below. "Net" real estate tax increment is defined as
increment generated by the Project after payment for a proportionate amount of TIF
administrative fees and costs and payments pursuant to Intergovernmental Agreements,if any.
a. In the event the Developer incurs less than $1,000,000 of TIF Eligible Project Costs
which are verified pursuant to Section E below in furtherance of the Project, the
maximum incentive provided in Section "C(1)"above shall be reduced to Seventy-
Five Thousand and 00/100 Dollars ($75,000.00) multiplied by a ratio equal to the
amount of TIF Eligible Project Costs incurred by the Developer and verified pursuant
to Section E below divided by $1,000,000.00. For example, if total verified TIF
Eligible Project Costs incurred by the Developer for the Project are$900,000,then the
incentives provided in Section "C(1)" above shall not exceed $67,500 (($900,000 /
$1,000,000) * $75,000).
2. In addition,and upon the timely completion of the Project and verification of Business District
eligible project costs incurred in furtherance of the Project by the Developer pursuant to
Section "E"below, the City shall in exchange for a Promissory Note to be issued by the
Developer to the City as set forth in Exhibit "2" attached hereto, Loan to the Developer
(also, the"Borrower") a total amount not to exceed One Hundred Seventy-Five Thousand
and 00/100 Dollars ($175,000.00) from BDD Special Tax Allocation Funds. The terms and
conditions for the Loan shall be as follows:
a. In the event the Developer incurs less than $1,000,000 of TIF Eligible Project Costs
which are verified pursuant to Section E below in furtherance of the Project, the
maximum incentive provided in Section "C(2)" above shall be reduced to One
Hundred Seventy-Five Thousand and 00/100 Dollars ($175,000.00) multiplied by
a ratio equal to the amount of BDD Eligible Project Costs incurred by the Developer
and verified pursuant to Section E below divided by $1,000,000.00. For example, if
total verified BDD Eligible Project Costs incurred by the Developer for the Project
are $900,000, then the incentives provided in Section "C(1)"above shall not exceed
$157,500 (($900,000 / $1,000,000) * $175,000).
b. Closing on the Promissory Note and Mortgage shall occur within thirty (30) days
following Developer having timely verified all eligible project costs pursuant to
Section "E"below, unless the parties agree to close at a later date.
c. The interest rate for the note shall be Three Percent (3.0%) per annum and shall
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begin to accrue on the date the loan funds are disbursed to the Developer.
d. The term of the note shall expire on the date that is seven (7)years from the date the
final loan funds are disbursed to the Developer hereunder.
e. One-Seventh (1/7`'') of the principal amount of the Loan, plus any accrued interest
thereon, shall be forgiven annually by the City commencing one (1) year from the date
the final loan funds are disbursed to the Developer and continuing on said date of
each year thereafter for the term of the loan, provided the Developer has been at all
times in full compliance with every term of this Agreement,including the following:
i. The Developer does not sell or otherwise convey all or any portion of the
Property, other than by commercial lease, for the term of the Loan.
ii. The Developer shall annually provide verification of the payment of the real
estate taxes for the Property during the term of this Agreement.
iii. The Developer does not file for bankruptcy or otherwise become insolvent
during the term of this Agreement.
iv. The Property is not the subject of foreclosure proceedings during the term
of this Agreement.
V. The Developer is not it default of any term of this Agreement, the Note, or
the Mortgage set forth in Section "C(3)"below.
vi. The Developer shall maintain adequate insurance on the Property to cover
the replacement cost of the completed Project.
3. The Loan shall be secured by a Mortgage (attached hereto as Exhibit "Y) granted by the
Developer and in favor of the City, which shall be filed with the Fulton County Recorder's
Office. The City agrees that said mortgage shall be subordinate to that of a primary lender
providing financing for the Project at the request of the Developer.
a. As signatories to this Agreement and the Note,Encore Dance Academy,L.L.C.,West
Locust Canton, L.L.C., and Angela Onvig shall be guarantors for the Note and this
Agreement and shall be jointly and severally liable in the event of a default thereof by
the Developer.
b. The Developer agrees to acquire and maintain sufficient property and casualty
insurance and add the City as an insured party to the insurance policy.
c. Upon full payment or forgiveness of the Loan, the City shall release the Mortgage and
file with the County Recorder's Office whatever documents are necessary to release
said mortgage.
4. In order to receive the incentives set forth herein, the Developer agrees to provide any
information to the City upon request of the City regarding the number of jobs created and/or
retained by the Project as may be required by the Act and by the Illinois Comptroller.
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5. Work performed on behalf of and billed to the Developer by Holthaus Companies, Inc., a
company for which Nicolas Orwig is President, shall be invoiced at rates commensurate to or
less than similar work bid and performed by the company for other customers. The City
reserves the right to request additional information and verification of such costs incurred by
the Developer from Holthaus Companies, Inc.,if any.
6. The total reimbursements paid to the Developer under Section C(1) and C(2) above shall not
include reimbursement for land and building acquisition costs and shall not in any event
exceed a total cumulative reimbursement of Two Hundred Fifty Thousand and No/100
Dollars ($250,000.00) during the term of this Agreement.
7. In the event the Developer is in default of any term set forth in this Agreement,this Agreement
shall immediately terminate, and the Developer shall no longer be entitled to any further
reimbursements hereunder.
D. LIMITATION OF INCENTIVES TO DEVELOPER
1. The Developer shall be reimbursed by the City for all Eligible Project Costs permitted by the
TIF Act and the BDD Act, subject to a cumulative limitation of$250,000.00 from the real
estate tax increment generated and deposited into the Canton 2 — Rt. 9/Chestnut St. TIF
District Special Tax Allocation Fund and from the Canton BDD No. 1 Special Tax Allocation
Fund, but only for the term of the Agreement. The Parties may add additional phases and
eligible project costs in excess of the amount authorized by this Agreement upon mutual
written agreement pursuant to Section W(2)below.
2. It is not contemplated nor is the City obligated to use any of its proportionate share of the
monies for any of the Developer's Eligible Project Costs but,rather,the City shall use its sums
for any purpose under the TIF Act as it may in its sole discretion determine.
3. The Developer agrees to substantially complete the project, subject to Force Majeure, as
defined below.
E. PAYMENT OF ELIGIBLE PROJECT COSTS
1. Payment to the Developer for TIF Eligible Project Costs as set forth by the TIF Act or BDD
Eligible Project Costs as set forth by the BDD Act, shall be made pursuant to Request for
Verification of Eligible Pr ject Costs(Exhibit"4",the"Requisition") submitted from time to time
by the Developer to the City's TIF/BDD Administrator Jacob & Klein, Ltd., with copy to
The Economic Development Group, Ltd. (collectively, the "Administrator"), and subject to
the Administrator's approval of the costs and to the availability of funds in the Special
Account.
2. All Requisitions must be accompanied by verified bills or statements of suppliers, contractors,
or professionals together with mechanic's lien waivers (whether partial or full) from each of
the parties entitled to a payment that is the subject of the Requisition as required by the City.
3. For the purpose of this Agreement,TIF Eligible Project Costs and BDD Eligible Project Costs
shall specifically exclude and land or property acquisition costs..
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4. The Developer shall submit documentation for all TIF Eligible Project Costs and
BDD Eligible Project Costs within 120 days of timely completion of the Project. Any
costs submitted after such deadline will not be eligible for reimbursement hereunder.
5. Any real estate tax increment not required to be paid to the Developer under the terms of
Paragraph "3"above shall be available to the City for any purpose set forth in the TIF Plan
and allowed by the TIF Act.
6. The Administrator shall approve or disapprove a Requisition by written receipt to the
Developer within thirty (30) business days after receipt of the Requisition. Approval of the
Requisition will not be unreasonably withheld. If a Requisition is disapproved by the
Administrator, the reasons for disallowance will be set forth in writing and the Developer may
resubmit the Requisition with such additional information as may be required and the same
procedures set forth herein shall apply to such re-submittals.
7. All TIF Eligible Project Costs and/or BDD Eligible Project Costs approved shall then be paid
by the City from the appropriate Special Tax Allocation Fund to the Developer, or to others
as directed by the Developer, pursuant to the TIF Redevelopment Plan and/or the BDD
Redevelopment Plan and as allowed by Illinois Law. The City shall pay such approved Eligible
Costs, provided the Developer has satisfied the terms of this Agreement and costs which
exceed the amount available to pay the Developer shall carry forward, until paid, without
further action of the Developer.
8. The Parties acknowledge that the determination of Eligible Project Costs, and, therefore,
qualification for reimbursement hereunder are subject to changes or interpretation made by
amendments to the TIF Act and the BDD Act, respectively, administrative rules or judicial
interpretation during the term of this Agreement.The City has no obligation to the Developer
to attempt to modify those decisions but will assist the Developer in every respect as to
obtaining approval of Eligible Project Costs.
F. ANNUAL VERIFICATION OF TAX INCREMENT AND JOBS CREATED
1. It shall be the sole responsibility of the Developer, or its designee, to annually provide to the
City, as requested in writing, copies of all PAID real estate tax bills for the Property.
2. The annual reimbursement of real estate tax increment by the City to the Developer as set
forth in Section C above shall be conditioned upon the Developer providing the City with the
numbers of jobs created or retained by the Project for a particular year if requested by the City
to do so for that year.
3. The failure of Developer to provide any information required herein after written notice from
the City, and the continued failure to provide such information within (30) days after such
notice, shall be considered a breach of this Agreement and shall be cause for the City to deny
payments hereunder to the Developer, which payments are conditional upon receipt of the
foregoing information.
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G. LIMITED OBLIGATION
The City's obligation hereunder to pay the Developer for Eligible Project Costs is a limited
obligation to be paid solely from the Canton 2—Rt. 9/Chestnut St.TIF District Special Tax Allocation
Fund and the Canton Business Development District No. 1 Special Tax Allocation Fund. Said
obligation does not now and shall never constitute an indebtedness of the City within the meaning of
any State of Illinois constitutional or statutory provision and shall not constitute or give rise to a
pecuniary liability of the City or a charge or lien against any City fund or require the City to utilize its
taxing authority to fulfill the terms of this Agreement.
H. CITY PUBLIC PROJECTS
The City intends to use part or all of its share of the Project's real estate increment for other
public projects within the TIF District or within contiguous TIF Districts as allowed by law. The City
shall be eligible for reimbursement of the cost of doing so, as well as other eligible costs incurred by
the City in the TIF District.
I. LIMITED LIABILITY OF CITY
TO OTHERS FOR DEVELOPER'S EXPENSES
There shall be no obligation by the City to make any payments to any person other than the
Developer, nor shall the City be obligated to make direct payments to any other contractor,
subcontractor, mechanic, or materialman providing services or materials to the Developer for the
Developer's Project.
J. COOPERATION OF THE PARTIES
1. The City and the Developer agree to cooperate fully with each other when requested to do so
concerning the development of the Developer's Redevelopment Project. This includes
without limitation the City assisting or sponsoring the Developer, or agreeing to jointly apply
with the Developer, for any grant,award,subsidy or additional funding which may be available
from other governmental sources as the result of the Developer's or City's activities. This also
includes without limitation the Developer assisting or sponsoring the City, or agreeing to
jointly apply with the City, for any grant,award,or subsidy which may be available as the result
of the City's or the Developer's activities.
2. The Parties agree to take such actions,including the execution and delivery of such documents,
instruments, petitions, and certifications (and, in the City's case, the adoption of such
ordinances and resolutions), as may be necessary or appropriate, from time to time, to carry
out the terms, provisions, and intent of this Agreement and to aid and assist each other in
carrying out said terms, provisions, and intent.
3. The Parties shall cooperate fully with each other in seeking from any or all appropriate
governmental bodies all approvals (whether federal, state, county or local) required or useful
for the construction or improvement of property and facilities in and on the Property or for
the provision of services to the Property, including, without limitation, wetland mitigation,
gas, telephone, and electric utility services, roads, highways, rights-of-way, water and sanitary
sewage facilities, and storm water disposal facilities.
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K. DEFAULT; CURE; REMEDIES
In the event of a default under this Redevelopment Agreement by any party hereto (the
"Defaulting Party"), which default is not cured within the cure period provided for below, then the
other Party (the "Non-defaulting Party"), may have an action for damages, or, in the event damages
would not fairly compensate the Non-defaulting Parties for the Defaulting Party's breach of this
Redevelopment Agreement,the Non-defaulting Party shall have such other equity rights and remedies
as are available to them at law or in equity.Any damages payable by the City hereunder shall be limited
to the real estate tax increment payable to the Developer under the terms of this Agreement.
In the event a Defaulting Parry shall fail to perform a monetary covenant which it is required
to perform under this Redevelopment Agreement, it shall not be deemed to be in default under this
Redevelopment Agreement unless it shall have failed to perform such monetary covenant within thirty
(30) days of its receipt of a notice from a Non-defaulting Party specifying that it has failed to perform
such monetary covenant. In the event a Defaulting Party fails to perform any nonmonetary covenant
as and when it is required to under this Redevelopment Agreement, it shall not be deemed to be in
default if it shall have cured such default within thirty (30) days of its receipt of a notice from a Non-
defaulting Party specifying the nature of the default, provided, however, with respect to those
nonmonetary defaults which are not capable of being cured within such thirty (30) day period,it shall
not be deemed to be in default if it commences curing within such thirty(30) day period,and thereafter
diligently and continuously prosecutes the cure of such default until the same has been cured.
L. TIME; FORCE MAJEURE
For this Agreement, time is of the essence. The Developer agrees to complete this Project
within twelve (12) months following the date of execution of this Agreement. Failure to do so shall
be cause for the City to declare the Developer in default and unilaterally terminate this Agreement.
However, the Developer and the City shall not be deemed in default with respect to any obligations
of this Agreement on its part to be performed if the Developer or City fails to timely perform the
same and such failure is due in whole, or in part, to any strike, lock-out, labor trouble (whether legal
or illegal), civil disorder, inability to procure materials,weather conditions wet soil conditions, failure
or interruptions of power, restrictive governmental laws and regulations, condemnation, riots,
insurrections,war, fuel shortages, accidents, casualties,Acts of God, acts caused directly or indirectly
by the City (or the City's agents,employees or invitees) when applicable to Developer or third parties,
or any other cause beyond the reasonable control of Developer or the City.
M. ASSIGNMENT
The rights (including, but not limited to, the right to payments contemplated by Section "C"
of this Agreement) and obligations (or either of them) of the Developer under this Agreement shall
not be assignable unless by written authorization of the City.
N. WAIVER
Any party to this Agreement may elect to waive any remedy it may enjoy hereunder,provided
that no such waiver shall be deemed to exist unless the party waiving such right of remedy does so in
writing. No such waiver shall obligate such party to waive any right of remedy hereunder or shall be
deemed to constitute a waiver of other rights and remedies provided said party pursuant to this
Agreement.
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O. SEVERABILITY
If any section, subsection, term or provision of this Agreement or the application thereof to
any party or circumstance shall, to any extent, be invalid or unenforceable, the remainder of said
section, subsection, term or provision of this Agreement or the application of same to parties or
circumstances other than those to which it is held invalid or unenforceable, shall not be affected
thereby.
P. NOTICES
All notices,demands,requests,consents,approvals or other instruments required or permitted
by this Agreement shall be in writing and shall be executed by the Party or an officer,agent or attorney
of the Party,and shall be deemed to have been effective as of(i) the date of actual delivery,if delivered
personally,or(ii) as of the third (3`d) day from and including the date of posting,if mailed by registered
or certified mail, return receipt requested, with postage prepaid or (iii) the next business day if sent
overnight delivery using a nationally recognized delivery service, addressed as follows:
TO CITY: TO DEVELOPER:
City of Canton Encore Dance Academy,L.L.C.
`,/o City Clerk `/o Angela Orwig
2 N. Main St. 24501 N. County Hwy. 23
Canton, Illinois 61520 Canton, IL 61520
Ph: (309) 647-0020 Ph: (309) 645-7582
Wlith copy to: With copy to:
Jacob & Klein,Ltd. and
The Economic Development Group, Ltd.
1701 Clearwater Avenue
Bloomington, Illinois 61704
Ph: (309) 664-7777
Q. SUCCESSORS IN INTEREST
Subject to the provisions of Section "M"above, this Agreement shall be binding upon and
inure to the benefit of the Parties hereto and their respective successors and assigns.
R. NO JOINT VENTURE,AGENCY, OR PARTNERSHIP CREATED
Neither anything in this Agreement nor any acts of the Parties to this Agreement shall be
construed by the Parties or any third person to create the relationship of a partnership,agency,or joint
venture between or among such Parties.
S. LIMITATIONS OF LIABILITY
As it relates to this Agreement, no recourse under or upon any obligation, covenant or
agreement of this Agreement or for any claim based thereon or otherwise in respect thereof shall be
had against the City, its officers, agents and employees, in excess of any specific sum agreed by the
City to be paid to Developer, hereunder, subject to the terms and conditions herein, and no liability,
right or claim at law or in equity shall attach to or shall be incurred by its officers,agents and employees
in excess of such amounts, and all and any such rights or claims of Developer against the City, its
11
officers, agents and employees are hereby expressly waived and released as a condition of and as
consideration for the execution of this Agreement by the City.
T. ENTIRE AGREEMENT
The terms and conditions set forth in this Agreement supersede all prior oral and written
understandings and constitute the entire agreement between the City and the Developer with respect
to the subject matter hereof.
U. TERM OF THE AGREEMENT
Notwithstanding anything contained herein to the contrary, this Agreement shall expire upon
the expiration of the Promissory Note set forth herein. The Agreement shall expire sooner if the
Developer files for bankruptcy or otherwise becomes insolvent, the Property becomes the subject of
foreclosure proceedings, or upon default by the Developer of this Agreement.
V. ILLINOIS PREVAILING WAGE ACT
It is the understanding of the Parties that the position of the Illinois Department of Labor is
that the Illinois Prevailing Wage Act does not apply to Sales Tax Reimbursements or TIF Increment
received by private developers as reimbursement for private redevelopment project costs. This
position of the Department of Labor is stated as an answer to a FAQ on its website. The Developer
shall indemnify and hold harmless the City, and all City elected or appointed officials, officers,
employees, agents, representatives, engineers, consultants, and attorneys (collectively, the
"indemnified Parties"), from any and all claims that may be asserted against the Indemnified Parties
or one or more of them, in connection with the applicability, determination, and/or payments made
under the Illinois Prevailing Wage Act (820 ILCS 130/0.01 of. seg.), the Illinois Procurement Code,
and/or any similar State or Federal law or regulation. This obligation to indemnify and hold harmless
obligates Developer to defend any such claim and/or action, pay any liabilities and/or penalties
imposed, and pay all defense costs of City, including but not limited to the reasonable attorney fees
of City. Failure to comply with any of these requirements may cause all benefits hereunder to be
terminated by the City.
W. OTHER GENERAL PROVISIONS
1. Titles of Paragraphs: Titles of the several parts, paragraphs, sections, or articles of this
Agreement are inserted for convenience of reference only and shall be disregarded in
construing or interpreting any provisions hereof.
2. Amendments: The Parties hereto may amend this Agreement at any time by their mutual
consent with amendment must be in writing and executed by the Parties.
3. Prepayments: Should the annual incremental real estate tax revenue generated by the Project
be sufficient to pay all TIF eligible project costs, or the City determines sufficient BDD
revenues are available to reimburse all BDD eligible expenses prior to the expiration of the
term of the Agreement,the City may,at its sole discretion,elect to waive the required payments
in Section C(3) above and pay all then remaining payments in a single lump sum payment(s).
4. Warran , of Signatories: The signatories of Developer warrant full authority to both execute
this Agreement and to bind the entity in which they are signing on behalf of.
12
5. Counterparts:This Agreement may be executed in counterparts,which when taken together
shall constitute a single signed original as though all Parties had executed the same page.
6. Choice of Law/Venue: This Agreement shall be governed by and construed in accordance
with the laws of the State of Illinois with venue 1}ring in the Circuit Court of Fulton County,
Illinois.
THIS AGREEMENT IS INTENDED TO BE A LEGAL DOCUMENT. AN ATTORNEY AT
LAW SHOULD BE CONSULTED PRIOR TO THE EXECUTION OF THIS DOCUMENT.
IN WITNESS WHEREOF the Parties hereto have caused this Agreement to be executed
by their duly authorized officers on the above date at the City of Canton, Illinois.
CITY DEVELOPER
CITY OF CANTON, ILLINOIS, an Illinois ENCORE DANCE ACADEMY, L.L.C., an
Municipal Corporation Illinois Limited Liability C any
BY: B
Ke t`A. M Dowell, May5r, Angela 1g,Manager
Date:��"�Q' Date:
WEST LOCUST CANTON, L.L.C., an
ATT STED BY: Illinois Limited Liabili Co v
s B
1 ndrea`, alte -Smith, City Clerk Angela O g,Manager
Date: 01
Date: loll-Flgs—
ZLA ORWIG,individua 1
ngela O
Date: as
Attachments:
Exhibit 1. Summary of TIF Eligible Project Costs;and Exhibit 2. Request for Verification of Eligible
Project Costs.
13
EXHIBIT 1
SUMMARY OF ESTIMATED TIF AND BDD ELIGIBLE PROJECT COSTS
CANTON 2—RT. 9/CHESTNUT ST. TIF DISTRICT
AND CANTON BDD NO. 1
Encore Dance Academy, L.L.C. and West Locust Canton, L.L.C.
and Angela Orwig and Nicholas Orwig
Project Description:The Developer has acquired the Property and intends to undertake repairs and
renovations to the commercial building located thereon for operation of the "Encore Dance
Academy."
Location: 1000 W. Locust Street, Canton, IL
PIN: 09-08-28-300-010
SECT: 28 TWP: 07 RANGE: 04 PTSXXBG421.15 SNECORTHS 443 W400 N625
SELYONCURVE 373 SE 50.48 E 26.40 TO POB
Developer's Estimated TIF and BDD Eligible Project Costs:
Exterior rehab, repair, remodeling, reconstruction of existing building........................$279,990
Interior rehab,repair, remodeling, reconstruction of existing building.........................$732,026
Professionalfees......................................................................................... 500
TOTAL ESTIMATED TIF ELIGIBLE PROJECT COSTS'........................$1,014,5162
1 NOTE: The total, cumulative reimbursement for TIF and BDD Eligible Project Costs payable by the City to the
Developer shall not exceed$250,000.00 for costs relating solely to professional fees,interior repairs and renovations
and exterior repairs and renovations as may be incurred by the Developer,and as set forth in this Redevelopment
Agreement. The City shall not reimburse any portion of the Developer's costs for land acquisition for the Project.BDD
Eligible Project Costs as set forth in this Exhibit "I"may be reimbursed pursuant only to Section "C(2)"of this
Agreement.The line items set forth in this Exhibit"1"are not intended to place a total limit on the described expenditures
or intended to preclude payment of such other eligible redevelopment project costs in connection with the Developer's
Project,provided the total amount of payment for all eligible redevelopment project costs, public and private, shall not
exceed the total amount of$250,000 as set forth herein.
2 Work performed on behalf of and billed to the Developer by Holthaus Companies,Inc.,a company for which Nicolas
Orwig is President,shall be invoiced at rates commensurate to or less than similar work bid and performed by the company
for other customers. The City reserves the right to request additional information and verification of such costs incurred
by the Developer from Holthaus Companies,Inc.,if any.
14
EXHIBIT 2
FORM OF PROMISSORY NOTE
FOR VALUE RECEIVED, Encore Dance Academy, L.L.C., West Locust Canton,
L.L.C., and Angela Orwig (the "Borrower"), promise to pay the City of Canton, Fulton County,
Illinois, an Illinois Municipal Corporation (the "Lender") the principal sum of up to One Hundred
Seventy Five Thousand Dollars ($175,000.00) with interest accruing on the unpaid principal at the
rate of three percent(3%)per annum. The aforementioned principal sum represents monies loaned
by the Lender to the Borrower for the reimbursement of Borrower's BDD Eligible Costs incurred as
a result of a Redevelopment Project located at 1000 W. Locust Street,Canton,Illinois (PIN 09-08-28-
300-010, the"Property"),within the Redevelopment Project Area and that is the subject of a TIF and
BDD Redevelopment Agreement by and between the City of Canton and Encore Dance Academy,
L.L.C., West Locust Canton, L.L.C., and Angela Orwig (the "Redevelopment Agreement") entered
into the 3`d day of June, 2025.
The term of this Promissory Note shall commence on the date the reimbursements provided
for in Section "C(2)"of the Redevelopment Agreement are disbursed to the Borrower and ends on
the date that is seven (7) years from the date of such disbursement.
Provided that the Borrower is at all times in compliance with the Redevelopment Agreement
and this Promissory Note,One-Seventh (1/7`h) of the principal balance of up to$175,000.00,plus any
accrued interest thereon,shall be forgiven by the Lender each year during the term of this Promissory
Note, with the first date of forgiveness being the date that is one (1) year from the date of the
disbursement set forth in Section "C(2)"of the Redevelopment Agreement and continuing on said
date of each year thereafter for the term of this Promissory Note. Provided that the Borrower does
not Default or otherwise breach this Promissory Note or the Redevelopment Agreement, the full
principal amount of this Promissory Note,plus any accrued interest thereon, shall be forgiven on the
expiration of this Promissory Note.
The Borrower shall be deemed in Default of this Promissory Note if the Borrower:
1) sells or otherwise conveys all or any portion of the subject Property, other than by
commercial lease, during the term of this Promissory Note;
2) files for bankruptcy or otherwise becomes insolvent during the term of this Promissory
Note;
3) fails to provide annual verification that the ad valorem real estate taxes for the subject
Property have been paid;
4) becomes incapable of maintaining ownership of the Property or if the Property becomes
the subject of foreclosure proceedings;
5) fails to carry adequate insurance on the Property to cover the replacement cost of the
completed Project; or
6) creates a condition of any other default of the Redevelopment Agreement or this
Promissory Note.
In the event the Borrower is in Default under the terms of this Promissory Note or the
Redevelopment Agreement and does not cure said default or breach on or before the thirtieth (30`h)
day after Lender gives Borrower written notice of Default thereof by personal delivery or certified
mailing, the outstanding principal amount, plus any accrued interest thereon, is immediately due to
15
the Lender and the Lender shall be entitled to all remedies permitted by law. Notice shall be deemed
given on the date of personal delivery or date of mailing, whichever applies. No delay or failure in
giving notice of said Default or breach shall constitute a waiver of the right of the Lender to exercise
said right in the event of a subsequent or continuing Default or breach. Furthermore,in the event of
such Default or breach, Borrower promises to reimburse Lender for all collection and/or litigation
costs incurred by the City, including reasonable attorney fees and court costs, whether judgment is
rendered or not.
As signatories to this Note,Encore Dance Academy,L.L.C.,West Locust Canton,L.L.C.,and
Angela Orwig personally guarantee payment of this Promissory Note and shall be personally and
severally liable in the event the Borrower is in default hereof.
This Promissory Note has been entered into and shall be performed in the City of Canton,
Fulton County, Illinois, and shall be construed in accordance with the laws of the State of Illinois and
any applicable federal statutes or regulations of the United States. Any claims or disputes concerning
this Note shall, at the sole election of the Lender, be adjudicated in Fulton County, Illinois.
CITY BORROWER
CITY OF CANTON, ILLINOIS, an Illinois ENCORE DANCE ACADEMY, L.L.C., an
Municipal Corporation Illinois Limited Liabi 1 111AT-Company
"C� --� 9 - --
[ B f- —� - — C
BY: 'iVngela On g,Manager
1�ay�r
Date: Date:
ATT STED BY: WEST LOCUST CANTON, L.L.C., an
Illin Limited Liability C
Y:
ity Clerk 1 ngela Orwi ,Manager
Date:
Date: Loll 11
ORWIG, i
BY:
Bela Orw
Date:
Date:
16
RECORDATION REQUESTED BY:
The City of Canton, Illinois
2 N. Main Street
Canton, IL 61520
WHEN RECORDED MAIL TO:
The City of Canton, Illinois
2 N. Main Street
Canton, IL 61520
SEND TAX NOTICES TO:
c/o
PREPARED BY:
Nicolas Nelson
Jacob &Klein, Ltd.
1701 Clearwater Ave, Suite C
Bloomington, IL 61554
FOR RECORDER'S USE ONLY
MORTGAGE
MAXIMUM LIEN. At no time shall the principal amount of Indebtedness secured by the
Mortgage, not including sums advanced to protect the security of the Mortgage, exceed the
Note amount of$175,000.00.
THIS MORTGAGE dated 20 is made and executed
between WEST LOCUST CANTON, LLC, an Illinois Limited Liability Company, whose
address is 24501 N. County Hwy. 23, Canton, Illinois, 61520 (referred to below as "Grantor")
and The City of Canton, Fulton County, Illinois, whose address is 2 N. Main Street, Canton,
Illinois 61520 (referred to below as "Lender").
GRANT OF MORTGAGE. For valuable consideration, Grantor mortgages, warrants, and
conveys to Lender all of Grantor's right, title, and interest in and to the following described real
property, together with all existing or subsequently erected or affixed buildings, improvements and
fixtures; all easements, rights of way, and appurtenances; and all other rights, royalties, and profits
relating to the real property,including without limitation all minerals, oil, gas, geothermal and similar
mattes, (the "Real Property") located in Fulton County, State of Illinois, and further described
in Exhibit "A" as attached hereto.
The Real Property or its address is commonly known as: 1000 W. Locust Street, Canton, IL
The Real Property tax identification number is: 09-08-28-300-010
Grantor presently assigns to Lender all of Grantor's right, title, and interest in and to all present and
future leases of the Property and all Rents from the Property.
Page 1of15
MORTGAGE(cont'd)
THIS MORTGAGE, INCLUDING THE ASSIGNMENT OF RENTS IS GIVEN TO
SECURE (A) PAYMENT OF THE INDEBTEDNESS AND (B) PERFORMANCE OF
ANY AND ALL OBLIGATIONS UNDER THE NOTE,THE RELATED DOCUMENTS,
AND THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE
FOLLOWING TERMS:
PAYMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage, Grantor
shall pay to Lender all amounts secured by this Mortgage as they become due and shall strictly perform
all of Grantor's obligations under this Mortgage.
POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's
possession and use of the Property shall be governed by the following provisions:
Possession and Use. Until the occurrence of an Event of Default,Grantor may (1) remain
in possession and control of the property; (2) use,,operate or manage the Property; and (3)
collect the Rents from the Property.
Duty to Maintain. Grantor shall maintain the Property in good condition and promptly
perform all repairs, replacements, and maintenance necessary to preserve its value.
Compliance with Environmental Laws. Grantor represents and warrants to Lender that:
(1) During the period of Grantor's ownership of the Property, there has been no use,
generation, manufacture, storage, treatment, disposal, release or threatened release of any
Hazardous Substance by any person on, under, about or from the Property; (2) Grantor has
no knowledge of, or reason to believe that there has been, except as previously disclosed of
and acknowledged by Lender in writing, (a) any breach or violation of any Environmental
Laws, (b) any use,generation, manufacture, storage, treatment, disposal,release or threatened
release of any Hazardous Substance on,under,about or from the Property by any prior owners
or occupants of the Property, or (c) any actual or threatened litigation or claims of any kind
by any person relating to such matters; and (3) Except as previously disclosed to and
acknowledged by Lender in writing, (a) neither Grantor nor any tenants, contractor, agent or
other authorized user of the Property shall use,generate, manufacture, store, treat, dispose of
or release any Hazardous Substance on, under, about or from the Property; and (b) any such
activity shall be conducted in compliance with all applicable federal, state, and local laws,
regulations and ordinances, including without limitation all Environmental Laws. Grantor
authorizes Lender and its agents to enter upon the Property to make such inspections and
tests, at Grantor's expense, as Lender may deem appropriate to determine compliance of the
Property with this section of the Mortgage. Any inspections or tests made by Lender shall be
for Lender's purposes only and shall not be construed to create any responsibility or liability
on the part of Lender to Grantor or to any other person. The representations and warranties
contained herein are based on Grantor's due diligence in investigating the Property for
Hazardous Substances. Grantor hereby (1) releases and waives any future claims against
Lender for indemnity or contribution in the event Grantor becomes liable for cleanup or other
costs under any such laws; and (2) agrees to indemnify, defend, and hold harmless Lender
against any and all claims, losses, liabilities, damages, penalties, and expenses which Lender
may directly or indirectly sustain or suffer resulting from a breach of this section of the
Page 2 of 15
MORTGAGE(cont'd)
Mortgage or as a consequence of any use, generation, manufacture, storage, disposal, release
or threatened release occurring prior to Grantor's ownership or interest in the Property,
whether or not the same was or should have been known to Grantor. The provisions of this
section of the Mortgage, including the obligation to indemnify and defend, shall survive the
payment of the Indebtedness and the satisfaction and reconveyance of the lien of this
Mortgage and shall not be affected by Lender's acquisition of any interest in the Property,
whether by foreclosure or otherwise.
Nuisance, Waste. Grantor shall not cause, conduct or permit any nuisance nor commit,
permit,or suffer any stripping of or waste on or to the Property or any portion of the Property.
Without limiting the generality of the foregoing,Grantor will not remove,or grant to any other
party the right to remove, any timber, minerals (including oil and gas), coal, clay, scoria, soil,
gravel or rock products without Lender's prior written consent.
Removal of Improvements. Grantor shall not demolish or remove any Improvements from
the Real Property without Lender's prior written consent. As a condition to the removal of
any Improvements,Lender may require Grantor to make arrangements satisfactory to Lender
to replace such Improvements with Improvements of at least equal value.
Lender's Right to Enter. Lender and Lender's agents and representatives may enter upon
the Real Property at all reasonable times to attend to Lender's interests and to inspect the Real
Property for purposes of Grantor's compliance with the terms and conditions of this
Mortgage.
Compliance with Governmental Requirements. Grantor shall promptly comply with all
laws, ordinances, and regulations, now or hereafter in effect, of all governmental authorities
applicable to the use or occupancy of the Property. Grantor may contest in good faith any
such law, ordinance, or regulation and withhold compliance during any proceeding,including
appropriate appeals, so long as Grantor has notified Lender in writing prior to doing so and
so long as, in Lender's sole opinion, Lender's interests in the Property are not jeopardized.
Lender may require Grantor to post adequate security or a surety bond,reasonably satisfactory
to Lender, to protect Lender's interest.
Duty to Protect. Grantor agrees neither to abandon or leave unattended the Property.
Grantor shall do all other acts,in addition to those acts set forth above in this section,which
from the character and use of the Property are reasonably necessary to protect and preserve
the Property.
TAXES AND LIENS. The following provisions relating to the taxes and liens on the Property are
part of this Mortgage:
Payment. Grantor shall pay when due (and in all events prior to delinquency) all taxes,
payroll taxes, special taxes,assessments,water charges and sewer service charges levied against
or on account of the Property, and shall pay when due all claims for work done on or for
services rendered or material furnished to the Property. Grantor shall maintain the Property
free of any liens having priority over or equal to the interest of Lender under this Mortgage,
Page 3 of 15
MORTGAGE(cont'd)
except for those liens specifically agreed to in writing by Lender, and except for the lien of
taxes and assessments not due as further specified in the Right to Contest paragraph.
Right to Contest. Grantor may withhold payment of any tax, assessment, or claim in
connection with a good faith dispute over the obligation to pay, so long as Lender's interest
in the Property is not jeopardized. If a lien arises or is filed as a result of nonpayment,Grantor
shall within fifteen (15) days after the lien arises or, if a lien is filed, within fifteen (15) days
after Grantor has notice of the filing,secure the discharge of the lien,or if requested by Lender,
deposit with Lender cash or a sufficient corporate surety bond or other security satisfactory
to Lender in an amount sufficient to discharge the lien plus any costs and attorney's fees, or
other charges that could accrue as a result of a foreclosure or sale under the lien. In any
contest, Grantor shall defend itself and Lender and shall satisfy any adverse judgment before
enforcement against the Property. Grantor shall name Lender as an additional oblige under
any surety bond furnished in the contest proceedings.
Evidence of Payment. Grantor shall upon demand furnish to Lender satisfactory evidence
of payment of the taxes or assessments and shall authorize the appropriate governmental
official to deliver to Lender at any time a written statement of the taxes and assessments against
the Property.
Notice of Construction. Grantor shall notify Lender at least fifteen (15) days before any
work is commenced, any services are furnished, or any materials are supplied to the Property,
if any mechanic's lien, materialmen's lien, or other lien could be asserted on account of the
work, services, or materials. Grantor will upon request of Lender furnish to Lender advance
assurances satisfactory to Lender that Grantor can and will pay the cost of such improvements.
PROPERTY DAMAGE INSURANCE. The following provisions relating to insuring the
Property are a part of this Mortgage:
Maintenance of Insurance. Grantor shall procure and maintain policies of fire insurance
with standard extended coverage endorsements on a replacement basis for the full insurable
value covering all Improvements on the Real Property in an amount sufficient to avoid
application of any coinsurance clause,and with a standard mortgagee clause in favor of Lender.
Policies shall be written by such insurance companies and in such form as may be reasonably
acceptable to Lender. Grantor shall deliver to Lender certificates of coverage from each
insurer containing a stipulation that coverage will not be cancelled or diminished without a
minimum of ten (10) days' prior written notice to Lender and not containing any disclaimer
of the insurer's liability for failure to give such notice. Each insurance policy also shall include
an endorsement providing that coverage in favor of Lender will not be impaired in any way
by any act, omission or default of Grantor or any other person. Should the Real Property be
located in an area designated by the Director of the Federal Emergency Management Agency
as a special flood hazard area,Grantor agrees to obtain and maintain Federal Flood Insurance,
if available, for the full unpaid principal balance of the loan and any prior liens on the property
securing the loan, up to the maximum policy limits set under the National Flood Insurance
Program, or as otherwise required by Lender, and to maintain such insurance for the term of
the loan.
Page 4 of 15
MORTGAGE(cont'd)
Application of Proceeds. Grantor shall promptly notify, Lender of any loss or damage to
the Property if the estimated cost of repair or replacement exceeds any damage over one
thousand dollars. Lender may make proof of loss if Grantor fails to do so within fifteen (15)
days of the casualty. Whether or not Lender's security is impaired, Lender may, at Lender's
election, receive and retain the proceeds of any insurance and apply the proceeds to the
reduction of the Indebtedness, payment of any lien affecting the Property, or the restoration
and repair of the Property. If Lender elects to apply the proceeds to restoration and repair,
Grantor shall repair or replace the damaged or destroyed Improvements in- a manner
satisfactory to Lender. Lender shall, upon satisfactory proof of such expenditure, pay or
reimburse Grantor from the proceeds for the reasonable cost of repair or restoration if
Grantor is not in default under this Mortgage. Any proceeds which have not been disbursed
within 180 days after their receipt and which Lender has not committed to the repair or
restoration of the Property shall be used first to pay any amount owing to Lender under this
Mortgage, then to pay accrued interest, and the remainder, if any, shall be applied to the
principal balance of the Indebtedness. If Lender holds any proceeds after payment in full of
the Indebtedness, such proceeds shall be paid to Grantor as Grantor's interests may appear.
LENDER'S EXPENDITURES. If Grantor fails (A) to keep the Property free of all taxes, liens,
security interests, encumbrances, and other claims, (B) to provide any required insurance on the
Property, or(C) to make repairs to the Property then Lender may do so. If any action or proceeding
is commenced that would materially affect Lender's interests in the Property, then Lender on
Grantor's behalf may, but is not required to, take any action that Lender believes to be appropriate to
protect Lender's interests. All expenses incurred or paid by Lender for such purposes will then bear
interest at the rate charged under the Note from the date incurred or paid by Lender to the date of
repayment by Grantor. All such expenses will become a part of the Indebtedness and, at Lender's
option,will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned
among and be payable with any installment payments to become due during either (1) the term of
any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon
payment which will be due and payable at the Note's maturity.The Mortgage also will secure payment
of these amounts. The rights provided for in this paragraph shall be in addition to any other rights or
any remedies to which Lender may be entitled on account of any default. Any such action by Lender
shall not be construed as curing the default so as to bar Lender from any remedy that it otherwise
would have had.
WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the
Property are a part of this Mortgage:
Title. Grantor warrants that: (a) Grantor holds good and marketable title or record to the
Property in fee simple, free and clear of all liens and encumbrances other than those set forth
in the Real Property description or in any title insurance policy,title report,or final title opinion
issued in favor of,and accepted by,Lender in connection with this Mortgage,and (b) Grantor
has the full right, power, and authority to execute and deliver this Mortgage to Lender.
Defense of Title. Subject to the exception in the paragraph above, Grantor warrants and
will forever defend the title to the Property against the lawful claims of all persons. In the
Page 5 of 15
MORTGAGE(cont'd)
event any action or proceeding is commenced that questions Grantor's title or the interest of
Lender under this Mortgage, Grantor shall defend the action at Grantor's expense. Grantor
may be the nominal party in such proceeding,but Lender shall be entitled to participate in the
proceeding and to be represented in the proceeding by counsel of Lender's own choice, and
Grantor will deliver, or cause to be delivered, to Lender such instruments as Lender may
request from time to time to permit such participation.
Compliance With Laws. Grantor warrants that the Property and Grantor's use of the
Property complies with all existing applicable laws, ordinances, and regulations of
governmental authorities.
Survival of Promises. All promises, agreements, and statements Grantor has made in this
Mortgage shall survive the execution and delivery of this Mortgage, shall be continuing in
nature and shall remain in full force and effect until such time as Grantor's Indebtedness is
paid in full.
CONDEMNATION. The following provisions relating to condemnation proceedings are a part
of this Mortgage:
Proceedings. If any proceeding in condemnation is filed, Grantor shall promptly notify
Lender in writing, and Grantor shall promptly take such steps as may be necessary to defend
the action and obtain the award. Grantor may be the nominal party in such proceeding, but
Lender shall be entitled to participate in the proceeding and to be represented in the
proceeding by counsel of its own choice, and Grantor will deliver or cause to be delivered to
Lender such instruments and documentation as may be requested by Lender from time to
time to permit such participation.
Application of Net Proceeds. If all or any part of the Property is condemned by eminent
domain proceedings or by any proceeding or purchase in lieu of condemnation, Lender may
at its election require that all or any portion of the net proceeds of the award be applied to the
Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall
mean the award after payment of all reasonable costs, expenses, and attorneys' fees incurred
by Lender in connection with the condemnation.
IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL
AUTHORITIES. The following provisions relating to governmental taxes, fees and charges are a
part of this Mortgage:
Current Taxes, Fees and Charges. Upon request by Lender, Grantor shall execute such
documents in addition to this Mortgage and take whatever other action is requested by Lender
to perfect and continue Lender's lien on the Real Property. Grantor shall reimburse Lender
for all taxes, as described below, together with all expenses incurred in recording, perfecting
or continuing this Mortgage,including without limitation all taxes, fees, documentary stamps,
and other charges for recording or registering this Mortgage.
Page 6 of 15
MORTGAGE(cont'd)
Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax
upon this type of Mortgage or upon all or any part of the Indebtedness secured by this
Mortgage; (2) a specific tax on Grantor which Grantor is authorized or required to deduct
from payments on the Indebtedness secured by this 1:ype of Mortgage; (3) a tax on this type
of Mortgage chargeable against the Lender or the holder of the Note;and (4) a specific tax on
all or any portion of the Indebtedness or on payments of principal and interest made by
Grantor.
Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date
of this Mortgage,this event shall have the same effect as an Event of Default,and Lender may
exercise any or all of its available remedies for an Event of Default as provided below unless
Grantor either(1) pays the tax before it becomes delinquent,or(2) contests the tax as provided
above in the Taxes and Liens section and deposits with Lender cash or a sufficient corporate
surety bond or other security satisfactory to Lender.
FURTHER ASSURANCES; ATTORNEY-IN-FACT. The Following provisions relating to
further assurances and attorney-in-fact are a part of this Mortgage:
Further Assurances. At any time, and from time to time, upon request of Lender, Grantor
will make, execute and deliver, or will cause to be made, executed or delivered, to Lender or
to Lender's designee, and when requested by Lender, cause to be filed, recorded, refilled, or
rerecorded, as the case may be, at such times and in such offices and places as Lender may
deem appropriate, any and all such mortgages, deeds of trust, security deeds, security
agreements, financing statements, continuation statements, instruments of further assurance,
certificates, and other documents as may, in the sole opinion of Lender, be necessary or
desirable in order to effectuate, complete, perfect, continue, or preserve (1) Grantor's
obligations under the Note, this Mortgage, and the Related Documents, and (2) the liens and
security interest created by this Mortgage as first and prior liens on the Property,whether now
owned or hereafter acquired by Grantor. Unless prohibited by law or Lender agrees to the
contrary in writing, Grantor shall reimburse Lender for all costs and expenses incurred in
connection with the matters referred to in this paragraph.
Attorney-in-Fact. If Grantor fails to do any of the things referred to in the preceding
paragraph, Lender may do so for and in the name of Grantor, and at Grantor's expense. For
such purposes, Grantor hereby irrevocably appoints Lender as Grantor's attorney-in-fact for
the purpose of making, executing, delivering, filing, recording, and doing all other things as
may be necessary or desirable,in Lender's sole opinion, to accomplish the matters referred to
in the preceding paragraph.
FULL PERFORMANCE. If Grantor pays all the Indebtedness when due,and otherwise performs
all the obligations imposed upon Grantor under this Mortgage, Lender shall execute and deliver to
Grantor a suitable satisfaction of this Mortgage. Grantor will pay,if permitted by applicable law, any
reasonable termination fee as determined by Lender from time to time.
EVENTS OF DEFAULT. At Lender's option, Grantor will be in default under this Mortgage if
any of the following happen:
Page 7 of 15
MORTGAGE(cont'd)
Payment Default. Grantor fails to make any payment when due under the Indebtedness. .
Default on Other Payments. Failure of Grantor within the time required by this Mortgage
to make any payment for taxes or insurance, or any other payment necessary to prevent filing
of or to effect discharge of any lien.
Break Other Promises. Grantor breaks any promise made to Lender or fails to perform
promptly at the time and strictly in the manner provided in this Mortgage or in any agreement
related to this Mortgage,including the Redevelopment Agreement.
False Statements. Any representation or statement made or furnished to Lender by Grantor
or on Grantor's behalf under this Mortgage or the Related Documents is false or misleading
in any material respect, either now or at the time made or furnished.
Defective Collateralization. This Mortgage or any of the Related Documents ceases to be
in full force and effect (including failure of any collateral document to create a valid and
perfected security interest or lien) at any time and for any reason.
Death or Insolvency. The dissolution of the Grantor's corporation, the insolvency of
Grantor, the appointment of a receiver for any part of Grantor's property,any assignment for
the benefit of creditors, any type of creditor workout, or the commencement of any
proceeding under any bankruptcy or insolvency laws by or against Grantor.
Taking of the Property. Any creditor or governmental agency tries to take any of the
Property or any other of Grantor's property in which Lender has alien. This includes taking
of, garnishing of or levying on Grantor's accounts, including deposit accounts,with Lender.
However, if Grantor disputes in good faith whether the claim on which the taking of the
Property is based is valid or reasonable,and if Grantor give Lender written notice of the claim
and furnishes Lender with monies or a surety bond satisfactory to Lender to satisfy the claim,
then this default provision will not apply.
Breach of Other Agreement. Any breach by Grantor under the terms of any other
agreement between Grantor and Lender, including the Redevelopment Agreement or the
Note, that is not remedied within any grace period provided therein, including without
limitation any agreement concerning any indebtedness or other obligation of Grantor to
Lender,whether existing now or later.
Events Affecting Guarantor. Any of the preceding events occurs with respect to any
guarantor, endorser, surety, or accommodation party of any of the Indebtedness or any
guarantor,endorser,surety,or accommodation party dies or becomes incompetent,or revokes
or disputes the validity of, or liability under, any Guaranty of the Indebtedness.
RIGHTS AND REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default and
at any time thereafter, Lender, at Lender's option, may exercise any one or more of the following
rights and remedies, in addition to any other rights or remedies provided by law:
Page 8 of 15
MORTGAGE(cont'd)
Accelerate Indebtedness. Lender shall have the right at its option without notice to Grantor
to declare the entire Indebtedness immediately due and payable, including any prepayment
penalty that Grantor would be required to pay.
Collect Rents. Lender shall have the right,without notice to Grantor, to take possession of
the Property and collect the Rents, including amounts past due and unpaid, and apply the net
proceeds, over and above Lender's costs, against the Indebtedness. In furtherance of this
right, Lender may require any tenant or other user of the Property to make payments of rent
or use fees directly to Lender. If the Rents are collected by Lender, then Grantor irrevocably
designates Lender as Grantor's attorney-in-fact to endorse instruments received in payment
thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments
by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations
for which the payments are made,whether or not any proper grounds for the demand existed.
Lender may exercise its rights under this subparagraph either in person, by agent, or through
a receiver.
Mortgagee in Possession. Lender shall have the right to be placed as mortgagee in
possession or to have a receiver appointed to take possession of all or any part of the Property,
with the power to protect and preserve the Property, to operate the Property preceding
foreclosure or sale, and to collect the Rents from the Property and apply the proceeds, over
and above the cost of the receivership,against the Indebtedness. The mortgagee in possession
or receiver may serve without bond if permitted by law. Lender's right to the appointment of
a receiver shall exist whether or not the apparent value of the Property exceeds the
Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person
from serving as a receiver.
Judicial Foreclosure. Lender may obtain a judicial decree foreclosing Grantor's interest in
all or any part of the Property.
Deficiency Judgment. If permitted by applicable law, Lender may obtain a judgment for
any deficiency remaining in the Indebtedness due to Lender after application of all amounts
received from the exercise of the rights provided in this section.
Other Remedies. Lender shall have all other rights and remedies provided in this Mortgage
or the Note or available at law or in equity.
Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any
and all right to have the Property marshaled. In exercising its rights and remedies, Lender
shall be free to sell all or any part of the Property together or separately, in one sale or by
separate sales. Lender shall be entitled to bid at any public sale on all or any portion of the
Property.
Election of Remedies. All of Lender's rights and remedies will be cumulative and may be
exercised alone or together. An election by Lender to choose any one remedy will not bar
Lender from using any other remedy. If Lender decides to spend money or to perform any
Page 9 of 15
MORTGAGE(cont'd)
of the Grantor's obligations under this Mortgage,after Grantor's failure to do so,that decision
by Lender will not affect Lender's right to declare Grantor in default and to exercise Lender's
remedies.
Attorneys' Fees; Expenses. If Lender institutes any suit or action to enforce any of the
terms of this Mortgage,Lender shall be entitled to recover such sum as the court may adjudge
reasonable as attorneys' fees at trial and upon any appeal. Whether or not any court action is
involved, and to the extent not prohibited by law, all reasonable expenses Lender incurs that
in Lender's opinion are necessary at any time for the protection of its interest or the
enforcement of its rights shall become a part of the Indebtedness payable on demand and shall
bear interest at the Note rate from the date of the expenditure until repaid. Expenses covered
by this paragraph include, without limitation, however subject to any limits under applicable
law, Lender's attorneys' fees and Lender's legal expenses, whether or not there is a lawsuit,
including attorneys'fees and expenses for bankruptcy proceedings (including efforts to modify
or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment
collection services, the cost of searching records, obtaining title reports (including foreclosure
reports), surveyors' reports, and appraisal fees and title insurance, to the extent permitted by
applicable law. Grantor also will pay any court cots,in addition to all other sums provided by
law.
NOTICES. Any notice required to be given under this Mortgage, including without limitation any
notice of default and any notice of sale shall be given in writing, and shall be effective when actually
delivered, when actually received by telefacsimile (unless otherwise required by law),when deposited
with a nationally recognized overnight courier,or,if mailed,when deposited in the United States mail,
as first class, certified or registered mail postage prepaid, directed to the addresses shown near the
beginning of this Mortgage. All copies of notices of foreclosure from the holder of any lien which
has priority over this Mortgage shall be sent to Lender's address, as shown near the beginning of this
Mortgage. Any person may change his or her address for notices under this Mortgage by giving formal
written notice to the other person or persons, speciflring that the purpose of the notice is to change
the person's address. For notice purposes, Grantor agrees to keep Lender informed at all times of
Grantor's current address. Unless otherwise provided or required by law, if there is more than one
Grantor, any notice given by Lender to any Grantor is deemed to be notice given to all Grantors. It
will be Grantor's responsibility to tell the others of the notice from Lender.
MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this
Mortgage:
Amendments. What is written in this Mortgage and in the Related Documents is Grantor's
entire agreement with Lender concerning the matters covered by this Mortgage. To be
effective, any change or amendment to this Mortgage must be in writing and must be signed
by whoever will be bound or obligated by the change or amendment.
Caption Headings. Caption headings in this Mortgage are for convenience purposes only
and are not to be used to interpret or define the provisions of this Mortgage.
Page 10 of 15
MORTGAGE(cont'd)
Governing Law. This Mortgage will be governed by federal law applicable to Lender
and,to the extent not preempted by federal law,the laws of the State of Illinois without
regard to its conflicts of law provisions. This Mortgage has been accepted by Lender
in the State of Illinois.
No Waiver by Lender. Grantor understands Lender will not give up any of Lender's rights
under this Mortgage unless Lender does so in writing. The fact that Lender delays or omits
to exercise any right will not mean that Lender has given up that right. If Lender does agree
in writing to give up one of Lender's rights, that does not mean Grantor will not have to
comply with the other provisions of this Mortgage. Grantor also understands that if Lender
does consent to a request, that does not mean that Grantor will not have to get Lender's
consent again if the situation happens again. Grantor further understands that just because
Lender consents to one or more of Grantor's requests, that does not mean Lender will be
required to consent to any of Grantor's future requests. Grantor waives presentment,demand
for payment, protest, and notice of dishonor.
Severability. If a court finds that any provision of this Mortgage is not valid or should not
be enforced, that fact by itself will not mean that the rest of his Mortgage will not be valid or
enforced. Therefore, a court will enforce the rest of the provisions of this Mortgage even if a
provision of this Mortgage may be found to be invalid or unenforceable.
Merger. There shall be no merger of the interest or estate created by this Mortgage with any
other interest or estate in the Property at any time held by or for the benefit of Lender in any
capacity,without the written consent of Lender.
Successors and Assigns. Subject to any limitations stated in this Mortgage on transfer of
Grantor's interest, this Mortgage shall be binding upon and inure to the benefit of the parties,
their successors and assigns. If ownership of the Property becomes vested in a person other
than Grantor, Lender, without notice to Grantor, may deal with Grantor's successors with
reference to this Mortgage and the Indebtedness by way of forbearance or extension without
releasing Grantor from the obligations of this Mortgage or liability under the Indebtedness.
Time is of the Essence. Time is of the essence in the performance of this Mortgage.
Waiver of Homestead Exemption. Grantor hereby releases and waives all rights and
benefits of the homestead exemption laws of the State of Illinois as to all Indebtedness secured
by this Mortgage.
Subordination of Mortgage. This Mortgage shall be subordinate to that of a primary lender
at the request of the Grantor all as set forth in the Redevelopment Agreement and the Note.
DEFINITIONS. The following words shall have the following meanings when used in this
Mortgage:
Page 11of15
MORTGAGE(cont'd)
Borrower. The word "Borrower" means West Locust Canton, LLC, and includes all co-
signers and co-makers signing the Note and all their successors and assigns.
Environmental Laws. The words "Environmental Laws" mean any and all state, federal
and local statutes, regulations and ordinances relating to the protection of human health or
the environment, including without limitation the Comprehensive Environmental Response,
Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq.
("CERCLA"), the Superfund Amendments and Reauthorization Act of 1986,Pub.L. No. 99-
499 ("SARA"), the Hazardous Materials Transportation Act, 49 U.S.C. Section 1801, et seq.,
the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other
applicable state or federal laws, rules, or regulations adopted pursuant thereto.
Event of Default. The words"Event of Default"mean any of the events of default set forth
in this Mortgage in the events of default section of this Mortgage.
Grantor. The word "Grantor"means West Locust Canton,LLC.
Guaranty. The word "Guaranty" means the guaranty from guarantor, endorser, surety, or
accommodation party to Lender, including without limitation a guaranty of all or part of the
Note.
Hazardous Substances. The words "Hazardous Substances" mean materials that, because
of their quantity, concentration or physical, chemical or infectious characteristics, may cause
or pose a present or potential hazard to human health or the environment when improperly
used,treated, stored,disposed of,generated,manufactured, transported or otherwise handled.
The words "Hazardous Substances" are used in their very broadest sense and include without
limitation any and all hazardous or toxic substances, materials or waste as defined by or listed
under the Environmental Laws. The term "Hazardous Substances" also includes, without
limitation, petroleum and petroleum by-products or any fraction thereof and asbestos.
Improvements. The word "Improvements" means all existing and future improvements,
buildings, structures, mobile homes affixed on the Real Property, facilities, additions,
replacements and other construction on the Real Property.
Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts,
costs and expenses payable under the Note, the Redevelopment Agreement, or Related
Documents, together with all renewals of, extensions of, modifications of, consolidations of
and substitutions for the Note or Related Documents an any amounts expended or advanced
by Lender to discharge Grantor's obligations or expenses incurred by Lender to enforce
Grantor's obligations under this Mortgage,together with interest on such amounts as provided
in this Mortgage.
Lender. The word"Lender"means the City of Canton,Illinois,its successors and/or assigns.
The words "successors or assigns" mean any person or company that acquires any interest in
the Note.
Page 12of15
MORTGAGE(cont'd)
Mortgage. The word "Mortgage"means this Mortgage between Grantor and Lender.
Note. The word "Note" means the promissory note dated , in the
original principal amount of up to $175,000.00, from Grantor to Lender, together with all
renewals of, extensions of, modifications of, refinancing of, consolidations of, and
substitutions for the promissory note or agreement. The interest rate on the Note is a variable
interest rate based upon an index. The index currently is Three percent (3.0%) per annum.
Real Property. The words "Real Property" mean the real property, interests and rights, as
further described in this Mortgage.
Redevelopment Agreement: The words Redevelopment Agreement mean the TIF District
and BDD Redevelopment Agreement executed by and between the City of Canton and
Encore Dance Academy,L.L.C.,West Locust Canton,L.L.C., and Angela on June 3, 2025.
Related Documents. The words "Related Documents" mean all promissory notes, credit
agreements, loan agreements, environmental agreements, guaranties, mortgages, deeds of
trust,collateral mortgages,and all other instruments,agreements and documents,whether now
or hereafter existing, executed in connection with the Indebtedness.
Rents. The work "Rents" means all present and future rents, revenues, income, issues,
royalties, profits, and other benefits derived from the Property.
GRANTOR ACKNOWLEDGES HAVING REAL ALL THE PROVISIONS OF THIS
MORTGAGE,AND GRANTOR AGREES TO ITS TERMS.
GRANTOR:
WEST LOCUST CANTON, LLC
By:
Its Duly Authorized Agent
Printed Name
Attest:
By:
Its Secretary
Printed Name
Page 13 of 15
MORTGAGE(cont'd)
INDIVIDUAL ACKNOWLEDGMENT
STATE OF ILLINOIS )
) SS.
COUNTY OF FULTON )
On this day before me, the undersigned Notary Public, personally appeared
, to me known to be the individuals described in and who
executed the Mortgage and acknowledged that he/she/they signed the Mortgage as his/her/their free and
voluntary act and deed, for the uses and purposes therein mentioned.
Given under my hand and official seal this day of ,20
By Residing at
Notary Public in and for the State of Illinois.
My commission expires
Page 14 of 15
MORTGAGE(cont'd)
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
The Land referred to herein and below is situated in the County of Fulton, State of Illinois and is described as
follows:
Page 15 of 15
LEGAL DESCRIPTION:
A part of the Southwest Quarter of Section 28, Township 7 North, Range 4 East.of the
Fourth Principal Meridian, situated in the County of Fulton and State of Illinois more
particularly described as follows: Beginning at a point on the East line of said Southwest
Quarter, marked by an iron pin, bearing South 0 degrees 55 minutes 00 seconds West, a
distance of 421.15 feet from the Northeast corner of said Southwest Quarter; thence
continuing on said East line South 0 degrees 55 minutes 00 seconds West, a distance of
443.68 feet; thence North 89 degrees 05 minutes 00 seconds West, a distance of 400.00
feet; thence North 0 degrees 55 minutes 00 seconds East, a distance of 625.00 feet to the
South right-of-way line of State Route 9, marked by an iron pin; thence Southeasterly
along said right-of-way along an arc of 3274.04 feet radius, concave to the Southwest to a
concrete monument, a distance of 373.83 feet, whose chord bears South 67 degrees 21
minutes East, a distance of 373.62 feet; thence along said right-of-way South 30 degrees
50 minutes 00 seconds, a distance of 50.48 feet to a concrete monument; thence South 89
degrees 5 minutes 00 seconds East, a distance of 26.40 feet to the point of beginning,
containing 5 acres, more or less,situated in the County of Fulton and State of Illinois.
PIN: 09-08-28-300-010
Fulton County Clerk Recorder Instrument No. 2414472 Page 3 of 4
EXHIBIT 4
PRIVATE REDEVELOPMENT PROJECT
REQUEST FOR VERIFICATION OF ELIGIBLE PROJECT COSTS
Requisition No.
Developer/Requestor name: Date submitted: / /20
Developer/Requestor mailing address:
Developer daytime phone: Email address:
This request for verification of eligible project costs relate to a written Redevelopment Agreement approved on
/ /20 by and between and
(Municipality) (Developer)
Project Name and Site Address:
Property PIN(s)as found on most recent real estate tax bill:
❑ Applicable Tax Increment Financing(TIF) District Name:
❑ Applicable Business Development District(BDD) Name:
This form is a request by the Developer to the Municipality for verification of eligible project costs which may be relied
upon by the Municipality in advance of future disbursements of funds,if any are payable,from the Special Tax Allocation
Fund(s) pursuant to the above referenced Redevelopment Agreement and applicable laws and statutes. The terms
used herein shall have the same meanings as those terms in the Redevelopment Agreement.
List of Project Costs Incurred Pursuant to the Redevelopment Agreement and Paid by the Developer for which Verification
of Eligibility is Hereby Requested:
Proof of
Invoice(s) Payment
Description Amount Paid Attached Attached'
$ ❑ ❑
$ ❑ ❑
$ ❑ ❑
$ ❑ ❑
$ ❑ ❑
$ ❑ ❑
$ ❑ ❑
$ ❑ ❑
Total Amount Requested for Verification of Eligible Costs: $
The undersigned hereby certifies and swears under oath that the following statements are true and correct:
1. the items herein provided as the "List of Project Costs Incurred Pursuant to the Redevelopment Agreement
and Paid by the Developer for which Verification of Eligibility is Hereby Requested"were incurred and/or
'Proof of payment may include: bills,statements,invoices and/or waivers of lien marked as paid,signed,and dated by suppliers,
contractors, or professionals; processed/cancelled check or bank draft payments (i.e., photocopies of both sides of check); or
other proofs payment for costs as may be requested by the Municipality. This information is to be attached to this form and
available for review when submitted.
18
financed by the Developer as deemed necessary and in furtherance of the Project, and such materials and or
services for which said costs were incurred have been applied to the Project in accordance with applicable
City Codes and requirements of the Redevelopment Agreement, including Exhibits and amendments, if any,
attached thereto; and
2. the Project Costs for which amounts are herein requested for verification of eligibility represent proper
redevelopment project costs as identified in the "Limitation of Incentives to Developer' described in the
Redevelopment Agreement, are not duplicated from any previous Request for Verification of Eligible Project
Costs, have been properly recorded on the Developer's books, are set forth herein with invoices and proof of
payment attached for all sums for which reimbursement is requested; and
3. the amounts requested and set forth herein are not greater than those necessary to meet obligations due and
payable or to reimburse the Developer for its funds actually paid or advanced for such redevelopment project
costs; and
4. the Developer is not in default per the terms of the Redevelopment Agreement, and nothing has occurred to
the knowledge of the Developer that would prevent the performance or fulfillment of its obligations under the
Redevelopment Agreement.
The undersigned hereby certifies and warrants he/she is of legal age and that to the best of his/her knowledge the information
contained in and attached to this Request for Verification of Eligible Project Costs is true, correct, and complete and
furthermore agrees to the statements and representations provided herein. Anyviolation of this oath shall constitute a default
of the Redevelopment Agreement and shall be cause for the City to unilaterally terminate the Redevelopment Agreement.
BY: DATE: /___J20
Developer/Requestor Signature
Print Developer/Requestor Name:
STATE OF ILLINOIS )
)Ss
COUNTY OF )
I,the undersigned Notary Public,do hereby affirm that personally appeared before me on the day of
,20 ,and signed the above statement as a free and voluntary act and deed.
Notary Public
Date of Commission Expiry. / /20
Revised 11112/2024
THIS SECTION FOR MUNICIPAL USE
❑ Request reviewed by TIF/BDD Administrator for the Municipality: Date: / /20_
(name and title)
❑ Request approved by authorized municipal official: Date: / /20_
(name and title)
❑ Project reviewed/inspected by authorized municipal official: Date: / /20_
(name and title)
❑ Project completed pursuant to Municipal Code Requirements.
❑ Project not completed pursuant to Municipal Code Requirements per attached report of authorized municipal official.
19