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HomeMy WebLinkAboutResolution #3392. _. RESOLUTION NO. 3392. A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE CITY OF CANTON AND TIM WELLS ON THE STONEGATE DRIVE SEWER AND DIRECTING THE MAYOR TO EXECUTE AND DELIVER SAID AGREEMENT ON BEHALF OF THE CITY OF CANTON, ILLINOIS. WHEREAS, the City Council of the City of Canton, Illinois has reviewed the terms of the agreement, a copy of which is attached hereto and made a part hereof as Exhibit A; and, WHEREAS, the City Council of the City of Canton, Illinois has determined that it is in the best interest of the City of Canton to approve said Agreement. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CANTON, Fulton County, Illinois as follows: 1. That the Stonegate Drive Sewer Agreement ,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 of the City of Canton, Illinois is hereby authorized and directed to execute and deliver said Agreement on behalf of the City of Canton. 3. That this Resolution shall be in full force and effect immediately upon its passage by the City Council of the City of Canton, Fulton County, Illinois and approval by the Mayor thereof. PASSED by the City Council of the City of Canton, Fulton County, Illinois, at a regular meeting this 19th day of August, 1997, upon a roll call vote as follows: AYES: Alder~aen Hartford, May, Shores. NAYS: None , ABSENT: None, Molleck, Phillips, Sarff, Meade, Nidiffer, OVED: ~~ onald E. Edwards, Mayor Attest: ~~ c . ~ ~` Nan Whit ,City Clerk L ~, > AGREEMENT WHEREAS, the City of Canton is an Illinois Municipal Corporation; and, WHEREAS, Tim Wells is a developer of Stonegate Drive in Canton; and, WHEREAS, the City of Canton has previously installed a sewer line on Stonegate Drive; and, WHEREAS, the costs of said installation exceeded the initial estimate; and, WHEREAS, the parties to this agreement have agreed to compromise said excess costs; NOW THEREFORE, the City of Canton and Tim Wells, for the considerations stated herein, mutually agree as follows: ARTICLE 1. Tim Wells has previously paid $13,575.00 to the City for partial payment on installation of the sewer line on Stonegate Drive. ARTICLE 2. Tim Wells agrees to pay to the City of Canton an additional $2,000 to the City for a total amount of $15,575 for the sewer that the city installed on the east end of Stonegate Drive. ARTICLE 3. Both parties agree to an installment payment plan of $500.00 to be paid at the time application is made, for the next four building permits issued on the Stonegate Drive lots owned by Tim Wells, for a total payment of $2,000.00. ARTICLE 4. After the fourth $500.00 installment payment, then Tim Wells will have satisfied his obligation. ARTICLE 5. In any case, $2,000.00 shall be remitted before August 19, 1999, by Tim Wells. IN WITNESS WHEREOF, the parties hereto have caused this AGREEMENT to be executed on the day and year first written above. n, Title By: Donald E. Edwards Title: Mayor, City of Canton By: Nancy Whit s, City Clerk, City of Canton, Illinois