HomeMy WebLinkAboutResolution #5071 RESOLUTION NO. 5071
A RESOLUTION APPROVING THE REAL ESTATE PURCHASE
AGREEMENT BETWEEN ROYAL HOSPITALITY LLC.,AND THE CITY OF
CANTON FOR THE PURCHASE OF
920 WEST LOCUST STREET, CANTON, ILLINOIS
WHEREAS, on June 21, 2016, the City Council of the City of Canton, Illinois, pursuant
to Division 74.4 of the Tax Increment Allocation Redevelopment Act, voted to have the property
located at 920 West Locust Street, Canton, Illinois advertised for sale and to accept requests for
proposal for the purchase and development of the property.
WHEREAS, on requests for proposals for the purchase and development of the property
were due on July 18, 2016; and
WHEREAS, only one(I) proposal was received by the City of Canton; and
WHEREAS, on September 6, 2016, the City Council voted to accept the proposal of
American Hospitality Investors Group, Inc. and the terms of the proposal that were set forth in
said proposal; and
WHEREAS, on October 3, 2016, American Hospitality Investors Group, Inc. changed
its name and registration to Royal Hospitality LLC, however the primary investors and the terms
of the proposal of July 18, 2016, are the same; and
WHEREAS, the City Council has determined that it is in the best interests of the citizens
of Canton to accept the proposal from Royal Hospitality LLC. and to enter into a real estate
purchase agreement selling forth those terms and conditions of said purchase.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL
OF THE CITY OF CANTON, ILLINOIS,AS FOLLOWS:
1. That the Real Estate Purchase Agreement related to 920 West Locust Street, Canton,
Illinois is attached hereto and incorporated herein as Exhibit "A" is hereby approved by
the Canton City Council.
2. That the Mayor for the City of Canton, Illinois, or his designee, is hereby authorized and
directed to execute said closing documents 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, Illinois and approval by the Mayor thereof.
1
NLR Resolution/Siesta Real Estate Purchase Agreement 920 W Locust
10/14/2016
PASSED by the City Council of the City of Canton, Illinois this 18th day of October, 2016
AYES: Aldermen Justin Nelson, Gerald Ellis, John Lov11, Craig West, Ryan Mayhew
NAYS: None
ABSTAIN: Alderman Tad Putrich
ABSENT: Alderman Angela Hale
APPROVED:
Je rey A Fritz, Mayor
ATT
Diana Pavley-Rock, City Clerk
2
NLR Resolution/Siesta Real Estate Purchase Agreement 920 W Locust
10/14/2016
REAL ESTATE PURCHASE AGREEMENT
Royal Hospitality LLC., ("Buyer") an Illinois limited liability company, whose agent's
address is 458 Garnet Drive, Morton, Illinois 61550, and the City of Canton, Illinois, an Illinois
municipal corporation, ("Seller"), whose address is 2 North Main Street, Canton, Illinois 61520,
enter into this Real Estate Purchase Agreement for approximately 1.5 acres of real estate located
in Canton, Illinois, commonly known as 920 West Locust Street, Canton, Illinois, (PIN 09-08-
28-404-001 and 09-08-28-404-002) and more particularly described on Exhibit "A" attached
hereto and by reference made a part hereof, together with all easements, rights of way and
appurtenances thereto and all improvements thereon (collectively the "Real Estate") to be
conveyed by general warranty deed from Seller to Buyer, in a form approved by Buyer (the
"Deed"), on the terms and subject to the following conditions:
1. Purchase Price. The total purchase price for the Real Estate shall be twenty five
thousand dollars ($25,000.00) ("Purchase Price"). The Purchase Price shall be paid as
follows:
1.1 Consideration. In consideration of five thousand dollars ($5,000.00) paid
by Buyer to Seller and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Seller and Buyer hereby agree to
the terms of this Contract.
1.2 Payment on Closing. At the Closing, Buyer shall pay the Purchase Price,
less credits and pro rations as herein provided, in immediately available funds, to
Seller.
1.3 Acceptance Date. The date upon which the last of Buyer or Seller
executes this Contract is the "Agreement Date"
2. Conditions of Closing. Buyer's obligation to close and purchase the Real Estate
is subject to the satisfaction or waiver in writing by Buyer of each of the following
conditions within thirty (30) days from the Acceptance Date (the "Due Diligence
Period"):
2.1 Title. Within fifteen (15) days from the Agreement Date, Seller shall
deliver to Buyer a commitment for an ALTA Owner's Policy of Title Insurance
(the "Commitment") prepared by Chicago Title Company, Inc. (the "Title
Company") which shall insure marketable title to the Real Estate (including any
appurtenant easements necessary for the full utilization thereof), free and clear of
all liens and encumbrances of any nature whatsoever in the amount of $25,000.00
after delivery of the Deed to Buyer from Seller. The expense of the Commitment
and premium for the Owner's Policy of Title Insurance shall be equally divided
between Seller and Buyer. Any endorsements requested by Buyer shall be at
Buyer's expense. The Title Company shall furnish Buyer with copies of all
recorded documents shown on the Commitment. If within the Due Diligence
Period, Buyer has an objection to items disclosed in the Commitment, Buyer shall
make written objections to Seller within 15 days after receipt of the Survey, the
Commitment and all such instruments. Seller shall then have 15 days from the
date such objections are disclosed to cure the same. Seller agrees to utilize
reasonable efforts to cure such objections, if any. If the objections are not cured
within such time period, or in the event any title objections arise or are discovered
after the expiration of the Due Diligence Period, Buyer may (i) terminate this
Contract, (ii) cure such objections on behalf of Seller (and Seller shall reasonably
cooperate with Buyer in connection therewith) and Seller shall reimburse Buyer
for the cost of such cure, or (iii) waive the uncured objections and close the
transaction.
2.2 Feasibility of the Real Estate. Within the Due Diligence Period, Buyer
shall determine whether the Real Estate is acceptable to Buyer in Buyer's sole
discretion. Buyer's intended and sole use of the Real Estate is for a multi-story
hotel. Seller shall fully cooperate with and assist Buyer in obtaining information
regarding the Real Estate. At any time within the Due Diligence Period, if Buyer
determines that the Real Estate is not acceptable to Buyer in Buyer's sole
discretion, Buyer may terminate this Contract.
2.3 Zoning. Buyer shall have confirmed that the current zoning classification
and/or covenants and/or commitments affecting the Real Estate are sufficient to
permit Buyer's anticipated use.
2.4 Restrictive Covenants. Buyer shall confirm if there are any restrictive
covenants and other land use controls that apply to the Real Estate. Buyer further
agrees that it shall take title to the real property subject to said restrictive
covenants and land use controls.
2.5 Permits. Buyer will obtain all licenses and approvals necessary for
Buyer's anticipated use. Seller will reasonably cooperate with Buyer in all such
proceedings to secure such permits and approvals, including filing any
applications or actions therefor or joining with Buyer therein. Seller agrees to
defer the payment of all building permit fees and water connection fees until the
first day of the operation of the business. Seller will then invoice Buyer and
Buyer shall pay said fees within fifteen (15) days of the invoice date. Seller
agrees that upon completion of development, Seller will waive 66% of said permit
fees except for the actual cost of the water meter and tap, of which Buyer shall be
responsible for 100%of the actual cost.
2.6 Condition of Real Estate. Buyer shall have determined, in its sole
discretion, that the Real Estate is adequate for Buyer's anticipated use. Currently,
the Real Estate has structures on it that were known previously as the Siesta
Motel. Seller has obtained permission from the Illinois Environmental Protection
Agency to burn the structures in accordance with the State of Illinois bum permit.
Within forty eight (48) hours of the scheduled burn, Buyer shall apply for and
begin the removal of the remaining structure and debris in accordance with Title 4
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(Building Regulations), Chapter 4 (Demolition) of the City of Canton Municipal
Code. Buyer shall submit proof of liability insurance and a performance bond in
the amount of$40,000.00. Buyer shall comply with the remainder of the City of
Canton Municipal Code pertaining to the demolition.
2.7 Financing. This contract is subject to Buyer obtaining a loan commitment
from a reputable lending institution on or before January 31, 2017, for a business
loan in the amount of at least Two Million Eight Hundred thousand Dollars
($2,800,000.00), with an initial interest rate of not more than 5% per annum, for a
term of not less than.
If said financing cannot be obtain by the Buyer by January 31, 2017, then at the
option of the Seller or the Buyer, this agreement shall become null and void.
Seller shall retain the earnest money and the proceeds from the performance bond.
If said financing is obtained by, Buyer agrees to furnish Seller with a copy of its
January 31, 2017,written loan commitment and an executed written waiver of this
financing contingency within 14 days of the execution date of this Agreement.
2.8 Franchise Agreement. Within thirty (30) days of the execution of this
Agreement, Buyer shall provide to Seller, proof that a hotel franchise has been
secured for the Real Estate. If Buyer defaults under this section, Buyer will
forfeit its earnest money as well as the proceeds from the performance bond.
2.9 Demolition. The building that is currently on the premises is scheduled to
be burned by the City of Canton Fire Department on November 5, 2016. The
Buyer agrees that it will complete the clean up within sixty (60) days of the
completion of the burn, or the closing, whichever is later. Should Buyer not
complete the clean up within the state time frame, Buyer shall forfeit title to said
property and the purchase price as damages to complete said cleanup in addition
to being responsible for any remaining costs related to clean up of the property
and Seller's attorney's fees to enforce said section of Agreement.
3. Property and Other Taxes. Seller shall pay all assessments, whether general or
special, assessed against the Real Estate prior to Closing. All real estate taxes for the
Real Estate assessed for any prior calendar year and remaining unpaid shall be paid by
Seller, and all real estate taxes for such Real Estate assessed for the current calendar year
shall be prorated between Seller and Buyer on a calendar year basis as of the day of the
Closing. Any taxes and assessments not assumed by Buyer shall be paid by Seller at or
prior to Closing.
4. Right of Entry. On and after the Acceptance Date, Buyer shall have the right to
enter and inspect the Real Estate, to permit surveyors, engineers, soil testing companies
and other agents to enter upon the Real Estate for the purpose of obtaining surveys, soil
tests, inspection reports and other information. Buyer shall indemnify and hold Seller
NLR Documents/Agreements 3
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harmless from and against any loss, damage or injury of any nature whatsoever arising as
a direct result of Buyer's (or its agents') exercise of the right of entry under this Section
5. Closing and Possession.
5.1 Closing. If this offer is accepted as herein provided, the transaction shall
be closed at the offices of the Seller or other such location as may be agreed upon
by the Buyer and Seller on or before ten (10) days after expiration of the Due
Diligence Period (the "Closing"). Seller shall not agree to or execute any
agreements concerning the Real Estate or any portion thereof from the
Acceptance Date to the time of the Closing except upon the prior written approval
of Buyer. At the Closing, Seller shall execute and deliver to Buyer the following
items:
(a) the Deed in recordable form conveying the Real Estate to Buyer;
(b) an Owner's Affidavit sufficient to cause the Title Company to remove the
standard exceptions from the owner's title policy;
(c) a certificate reaffirming as of the date of the Closing each and all of the
Seller's representations and warranties set forth in this Contract;
(d) a Closing Statement;
(e) any other instrument as reasonably required or requested by Buyer or the
Title Company.
At the Closing, Buyer shall pay the balance of the Purchase Price in cash and
execute and deliver a Closing Statement, and any other instrument as reasonably
required or requested by Seller or the Title Company. Seller and Buyer shall each
be responsible for one-half of the Closing costs.
5.2 Possession. Exclusive possession of the Real Estate shall be delivered to
Buyer at time of the Closing, with the exception of the burn pursuant to Section
2.6 of said Agreement.
5.3 Use of Property. The Buyer agrees that the property will be used for the
purpose of a hotel and the businesses that the hotel industry incorporates (i.e.
restaurant, bar, catering facility) and that construction on such building shall
commence within nine (9) months of Closing date and shall continue until
finished without interruption except as reasonably expected in the construction
industry(i.e. weather, etc.).
6, Seller Representations and Warranties. Seller represents and warrants to Buyer
that:
NLR Documents/Agreements 4
10/17/2016
6.1 Authority to Enter into Contract. Seller has full right and authority to
enter into and carry out the terms and provisions of this Contract and the
transactions contemplated hereby, including the sale, transfer, conveyance and
delivery of the Real Estate to Buyer, without obtaining the approval or consent of
any other party. Seller's execution, delivery and performance of this Contract and
all other agreements or instruments contemplated hereby will be legal, valid and
binding obligations of Seller, enforceable in accordance with their respective
terms.
6.2 Litigation. Seller has no knowledge of, has no reason to believe of, and
has not been served with notice of, any actual or threatened litigation, action or
legal, administrative, arbitration, condemnation, assessment or other proceeding
against the Real Estate or any part thereof.
6.3 Compliance with Laws. To Seller's knowledge, the Real Estate is (i) in
compliance with applicable statutes, laws, codes, ordinances, regulations and
requirements relating to zoning, subdivision, planning, building, fire, safety,
health, insurability or environmental matters, (ii) in compliance with covenants,
conditions and restrictions (whether or not of record) pertaining to the title to the
Real Estate, and (iii) in compliance with all other local, municipal, regional, state
or federal statutes, laws, codes, ordinances, regulations and requirements affecting
the Real Estate.
6.4 Contracts and Agreements. Seller is not a party to any contract to sell the
Real Estate other than this Contract. Further, Seller is not a party to any contract,
agreement, lease or other commitment which is related to the Real Estate which
will be binding following Closing.
6.5 Title. (i) Seller is the sole owner of the Real Estate, (ii) Seller owns fee
simple title to the Real Estate, and (iii) no party other than Seller is in possession
or occupancy of the Real Estate or claims any unrecorded or undisclosed legal or
equitable interest therein.
6.6 Access. The Real Estate has full and free access to and from public
highways, streets, or roads and there is no pending proceeding that would impair
or result in the termination of such access.
6.7 Conditions. Except as set forth in this Contract, with respect to the Real
Estate, Seller has no knowledge nor has Seller received notice, of (i) any
condition, defect or inadequacy which, if not corrected, would result in
termination of insurance coverage or increase its cost; (ii) any violations of
building codes and/or zoning ordinances or other governmental laws, regulations
or orders; (iii) pending condemnation proceedings; (iv) any proceedings which
could cause the change, redefinition or other modification of the zoning
classification or of other legal requirements applicable to the Real Estate or any
part thereof or to the permitted uses of the Real Estate; (v) special tax or
NLR Documents/Agreements 5
10/17/2016
assessment to be levied against the Real Estate; (vi) change in the tax assessment
of the Real Estate or (vii) any other matters material to the Real Estate or the use
thereof. Seller has not knowingly withheld from Buyer information relating to any
material defects in the Real Estate or any matters which might adversely affect the
development of the Real Estate.
All of the foregoing representations and warranties shall be considered to be true
and correct as of the Acceptance Date and shall survive the Closing. Seller shall
indemnify, defend and hold harmless Buyer from and against any and all claims,
demands, liabilities, damages, suits, actions, judgments, fines, penalties, loss, cost and
expense (including, without limitation, reasonable attorneys' fees) arising or resulting
from, or suffered, sustained or incurred by Buyer as a result of or related in any way to (i)
the misrepresentation or breach of any of the foregoing representations or warranties by
Seller to Buyer; or(ii) any Unknown Pre-Existing Environmental Condition.
7. Brokers. Seller and Buyer represent to each other that they have not used any real
estate brokers or agents with respect to this transaction who would have a right to any
broker's or finder's fee or commission, and each agrees to defend, indemnify and hold
harmless the other against and from any liability (including reasonable attorneys' fees)
resulting from a claim of any broker or agent claiming through the indemnifying party.
8. Recording. This document shall not be recorded. At the option of either party,
Seller and Buyer shall enter into a written memorandum in recordable form setting forth
the terms and conditions of this document which may be recorded by either party, at its
expense.
9. Notices. All notices required under this Contract shall be deemed to be properly
served if personally delivered, or sent by registered or certified mail with return receipt
requested, postage prepaid, or sent by recognized overnight courier, to Seller or Buyer at
the address as specified on the first page of this Contract, or to such other addresses
which Seller or Buyer may designate in writing delivered to the other party for such
purpose, or to the registered agent as listed on file with the Illinois Secretary of State's
office. Date of service of a notice served by mail or overnight delivery shall be the date
on which such notice is deposited in a post office of the United States Postal Service Date
or with the overnight courier.
10. Time of the Essence. Time for the performance of the obligations of the parties is
of the essence of this Contract.
11. Assignment: Succession of Obligations. The rights and obligations of Buyer
under this Contract may not be assigned by Buyer without Seller's consent, which shall
not to be unreasonably withheld; provided, however, Buyer may assign this Contract
without Seller's consent to an entity which is controlled by Buyer or an affiliate of Buyer.
All terms of this Contract shall be binding upon the parties hereto, their successors and
permitted assignees. Buyer and any assigned entity shall only use the Real Estate for the
intended use as described in Section 2.2 of this Agreement.
NLR Documents/Agreements
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12. Invalid Provisions. If any provision of this Contract is held to be illegal, invalid
or unenforceable, said provision shall be fully severable; this Contract shall be construed
and enforced as if such illegal, invalid or unenforceable provision had never comprised a
part of this Contract; and the remaining provisions of this Contract shall remain in full
force and effect and shall not be affected by the illegal, invalid or unenforceable
provision or by its severance from this Contract.
13. Multiple Counterparts. This Contract may be executed in a number of identical
counterparts including facsimile counterparts. If so executed, each of such counterparts
shall be deemed an original for all purposes, and all such counterparts shall, collectively,
constitute one agreement.
14. Attorneys' Fees. The party who is the prevailing party in any legal or equitable
proceeding against the other party in connection with this Contract shall be entitled to
recover from the non-prevailing party reasonable attorneys' fees and expenses incurred.
15. Miscellaneous. This document including all attachments fully sets forth all
agreements and understandings of the parties to this Contract with respect to the subject
matter hereof. Whenever used herein, the singular shall indicate the plural, the plural
shall include the singular, the plural and singular and any gender shall include all genders
and the neuter. Captions to the provisions of this Contract are intended and used solely
for purposes of identification and do not limit or enlarge upon the written provisions of
this Contract.
16. Remedies. In the event of a default by Seller hereunder, in addition to all other
rights and remedies available at law or in equity, Buyer shall have the right of specific
performance. In the event of a default by Buyer hereunder, the Earnest Money shall be
forfeited to Seller as liquidated. Additionally, Seller shall be entitled to the monies from
the performance bond is said demolition is not completed in the event Buyer defaults.
NLR Documents/Agreements 7
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BUYER SELLER
ROYAL HOSPITALITY LLC CITY OF CANTON, an Illinois Municipal
��// ,, Corporationt
By: Iip'4 By: /1_,:n I_,:n
President nshokkar Patel Jeffrey A. Fri , ayor
10/25/2016 1 1:12 PM PDT
ATTE
By: Ai_
a Pavley-Roc, City Clerk
(Corporate Seal) (Municipal Seal)
DATED: Ill '\ a '1V) DATED: ID-\ g -11_0
NLR Documents/Agreements 8
10/17/2016
EXHIBIT A
Legal Description
920 W.Locust Street,Canton,Illinois 61520
Tract 1
09-08-28-404-001
A Part of the Southeast Quarter of Section 28, Township 7 North, Range 4 East of the Fourth Principal
Meridian in the County of Fulton and State of Illinois, more particularly described as follows and
bearings are for descriptive purposes:
Commencing at the Northwest corner of said Southeast Quarter marked by a drill hold, thence bearing
South 0 degrees 55 minutes 00 seconds West, a distance of 446.31 feet along the West line of said
Southeast Quarter to the Actual Point of Beginning; thence along the Southerly right-of-way line of State
Route 9 for the next four courses, bearing South 89 degrees 05 minutes 00 seconds East, a distance of
25.99 feet; thence bearing North 58 degrees 43 minutes 36 seconds East, a distance of 31.80 feet; thence
bearing South 63 degrees 16 minutes 24 seconds East,a distance of 145.10 feet; thence bearing South 57
degrees 22 minutes 24 seconds East, a distance of 28.50 feet; thence leaving said Southerly right-of-way
line, bearing South 0 degrees 55 minutes 00 seconds West, a distance of 158.62 feet; thence bearing
South 89 degrees 49 minutes 02 seconds West, a distance of 207.81 feet to said west Quarter Section line;
thence bearing North 0 degrees 55 minutes 00 seconds East, a distance of 223.83 feet along said West
Quarter Section line to the Point of Beginning containing 0.990 acres, subject to the rights, if any, of the
public for roadway purposes along the West side of the tract.
Tract 2
09-08-28-404-002
Part of the Southeast Quarter, Section 28, Township 7 North, Range 4 East of the Fourth Principal
Meridian, Fulton County, Illinois, being more particularly described as follows: Commencing at the
Northwest corner of said Southeast Quarter marked by a drill hole; thence bearing South 0 degrees 55
minutes 00 seconds West, a distance of 670.14 feet along the West line of said Southeast Quarter to a
point; thence bearing North 89 degrees 49 minutes 02 seconds East, a distance of 207.8! feet to the
Actual Point of Beginning marked by an iron pin;thence bearing North 0 degrees 55 minutes 00 seconds
East, a distance of 158.62 feet to the South right of way line of Illinois State Route 9 marked by an iron
pin; thence bearing South 57 degrees 22 minutes 24 seconds East, a distance of 221.98 feet along said
right of way line to a point marked by an iron pin; thence bearing South 87 degrees 13 minutes 24
seconds East,a distance of 92.40 feet along said right of way line to a point marked by an iron pin; thence
bearing South 0 degrees 50 minutes 36 seconds West,a distance of 33.55 feet along said right-of-way line
to a point marked by an iron pin; thence bearing South 89 degrees 49 minutes 02 seconds West,a distance
of 281.29 feet to the Point of Beginning,containing 0.503 acre.
NLR Documents/Agreements 9
10/17/2016
Par Chung 7/
Chicago Title and Trust Company
2808 Court St., Pekin, IL 61554
Phone: (309)347-1235 FAX: (309)347-1283
MASTER STATEMENT
Settlement Date: November 14, 2016 Escrow Number: COSP-5245-5245-1601812
Disbursement Date: November 14, 2016 Escrow Officer: Pam S. Travis
Buyer: Royal Hospitality LLC
Seller: City of Canton, an Illinois Municipal Corporation
2 N Main Street
Canton, IL 61520
Property: 920 West Locust Street
Canton, IL 61520
SELLER BUYER
$ DEBITS $ CREDITS $ DEBITS $ CREDITS
FINANCIAL CONSIDERATION
25,000.00 Sale Price of Property 25,000.00
5,000.00 Earnest money 5,000.00
TITLE&ESCROW CHARGES
Title-CPL Fee to Buyer to Chicago Title Insurance 25.00
Company
50.00 Title-CPL Fee to Seller to Chicago Title Insurance
Company
25.00 Title-P-Tax Preparation Fee to Chicago Title
Company
125.00 Title-Search and Exam Fee to Chicago Title
Company
Title-Settlement/Closing Fees•Borrower to 125.00
Chicago Title and Trust Company
125.00 Title-Settlement/Closing Fees-Seller to Chicago
Title and Trust Company
3.00 Title-State of Illinois Policy Registration Fee to
Chicago Title Company
300.00 Title-Owner's Title Insurance to Chicago Title
Company
Policies to be issued:
Owners Policy
Coverage: $25,000.00 Premium:$300.00
Version: ALTA Owner's Policy 2006
RECORDING CHARGES
Recording Fees to Fulton County Recorder 70.00
0.00 County Transfer Tax to Fulton County Recorder
0.00 State of Illinois Transfer Tax to Fulton County
Recorder
MISCELLANEOUS CHARGES
50.00 Deed Prep to Elias, Meginnes 8 Seghetti
5,678.00 25,000.00 Subtotals 25,220.00 5,000.00
Balance Due FROM Buyer 20,220.00
19,322.00 Balance Due TO Seller
25,000.00 25,000.00 TOTALS 25,220.00 25,220.00
Page 1 o/2 (5245.1601812/14)November 14,2016 9:48 AM C
MASTER STATEMENT- Continued
I have carefully reviewed the Settlement Statement and to the best of my knowledge and belief, it is a true and accurate statement of
all receipts and disbursements made on my account or by me in this transaction. 1 further certify that I have received a copy of the
Settlement Statement.
SELLER: BUYER:
Cof Canton, an Illinois Municipal Corporation Royal Hospitality LLC
^ .^ n p
BY: /I OVA[ ,1 A./-Zv ^J?a
BY: 041'C-1'1— .
Nancy L. Ra$ I 3i , 1
City Attorney nd Administrator
To the best of my knowledge,the Settlement Statement which I have prepared is a true and accurate account of the funds which
were receivednd have been or will be disbursed by the undersigned as part of the settlement of this transaction.
Chicago Title and Trust Company
Settlement Agent
Page 2 of 2 (5245-1601012114)November 14,2016 9:48 AM C
• ii i i 1 i 1111111i111111hili ilii 111111 i
1673545
Prepared by:
JAMES I. NELSON
Michael R. Seghetti COUNTY CLERK & RECORDER
Elias, Meginnes & Seghetti, P.C. FULREC COUNTY, IL
416 Main Street, Suite 1400 RECORDED ON
Peoria, Illinois 61602 11/15/2016 12:05:54PM
REC FEE: 61.00
Mail tax statement to and �I q, RHSP FEE: g,p0
after recording return to: ilyte(tfllw+t PAGES: 4
lUIG40
Royal Hospitality LLC &LA*; Sj_
-9244,44-besustSt. h�
Eenten, IJl 1oix-61520-
Ain oft RHir.T OR
/uo27ON, zt- 6resv
WARRANTY DEED
THIS INDENTURE WITNESSETH that the City of Canton, Fulton County, Illinois, an
Illinois municipal corporation (the "Grantor"), for and in consideration of Ten Dollars ($10.00) and
other good and valuable consideration, the receipt of which is hereby acknowledged, CONVEYS and
WARRANTS to Royal Hospitality LLC, an Illinois limited liability company (the "Grantee") the real
estate legally described on Exhibit A attached hereto and made a part hereof(the "Premises").
Such conveyance is subject to general real estate taxes for 2015 and subsequent years,
easements, restrictions, declarations, covenants, reservations and conditions of record.
The Grantor hereby releases and waives all rights under and by virtue of the Homestead
Exemption Laws of the State of Illinois.
Dated: l/- l q , 2016
Sao W, Loci/tat S. ,
,wyt _ ( 53D EXEMPT 35 ILCS 200/31-45(b)
P�N CITY OF CANTON, ILLINOIS
on-oga?-a? -ob Drki0vL. N
l
Nancy L. el
0 9-o k-a$ -c PLI -bh. City Attor and Administrator
State of J'IIin11S)
) ss.
County of la zeal cif)
I, the undersigned, a Notary Public in and for said County and State aforesaid, DO HEREBY
CERTIFY that Nancy L.Rabe!,personally known to me to be the City Attorney and Administrator of the
City of Canton, an Illinois municipal corporation, and personally known to me to be the same person
whose name is subscribed to the foregoing instrument as such City Attorney and Administrator,appeared
before me this day in person and acknowledged that she signed,sealed and delivered the said instrument
as her free and voluntary act as such City Attorney and Administrator,and as the free and voluntary act of
said municipal corporation for the uses and purposes therein set forth;and on her oath stated that she was
duly authorized to execute said instrument. ,r]
GIVEN under my hand and notarial seal this ) %ay of / V D V ,2016.
rne..ww.n.eve."eunon
OFFICIAL
TRAM Notary Public
S TRAVIS
I -.: t prri I. 0
N _XPP ❑,
316-2485
2
EXHIBIT "A"
Legal Description
For APNIParcel ID(s): 09-08.28-404.001 0q - 00 - Li0 N - 9 0°
A part of the Southeast Quarter of Section 28,Township 7 North, Range 4 East of the Fourth Principal
Meridian,in the County of Fulton and State of Illinois, more particularly described as follows and bearings
are for descriptive purposes:
Commencing at the Northwest corner of said Southeast Quarter marked by a drill hold,thence bearing
South 0 degrees 55 minutes 00 seconds West, a distance of 446.31 feet along the West line of said
Southeast Quarter to the Actual Point of Beginning; thence along the Southerly right-of-way line of State
Route 9 for the next four courses, bearing South 89 degrees 05 minutes 00 seconds East,a distance of
25.99 feet; thence bearing North 58 degrees 43 minutes 38 seconds East, a distance of 31.80 feet;thence
bearing South 63 degrees 16 minutes 24 seconds East, a distance of 145.10 feet; thence bearing South
57 degrees 22 minutes 24 seconds East, a distance of 28.50 feet:thence leaving said Southerly
right-of-way line, bearing South 0 degrees 55 minutes 00 seconds West, a distance of 158.62 feet;
thence bearing South 89 degrees 49 minutes 02 seconds West,a distance of 207.81 feet to said West
Quarter Section line; thence bearing North 0 degrees 55 minutes 00 seconds East, a distance of 223.83
feet along said West Quarter Section line to the Point of Beginning.
Tract 2:
Part of the Southeast Quarter, Section 28, Township 7 North, Range 4 East of the Fourth Principal
Meridian, Fulton County, Illinois, being more particularly described as follows: Commencing at the
Northwest corner of said Southeast Quarter marked by a drill hole; thence bearing South 0 degrees 55
minutes 00 seconds West, a distance of 670.14 feet along the West line of said Southeast Quarter to a
point; thence bearing North 89 degrees 49 minutes 02 seconds East, a distance of 207.81 feet to the
Actual Point of Beginning marked by an Iron pin; thence bearing North 0 degrees 55 minutes 00 seconds
East, a distance of 158.62 feet to the South right of way line of Illinois State Route 9 marked by an Iron
pin; thence bearing South 57 degrees 22 minutes 24 seconds East, a distance of 221.98 feet along said
right of way line to a point marked by an Iron pin; thence bearing South 87 degrees 13 minutes 24
seconds East,a distance of 92.40 feet along said right of way line to a point marked by an iron pin; thence
bearing South 0 degrees 50 minutes 36 seconds West, a distance of 33.55 feet along said right-of-way
line to a point marked by an iron pin; thence bearing South 89 degrees 49 minutes 02 seconds West, a
distance of 281.29 feet to the Point of Beginning.
Address: 920 W. Locust St., Canton, IL 61520
3
•
TO BE FILED WITH THE Ell)TON COUNTY RECORDER OF DEEDS
AFFIDAVIT FOR PURPOSE OF ILLINOIS PLAT ACT REQUIREMENTS
THIS IS A LEGAL DOLUMENI-PLEASE CONSULT YOUR ATTORNEY
,_ming E Subdivision Odnancus May Also Apply)
PARCEL NUMBER. 0'l- 0 S-2 02:1
0 - 1/-02 - 6O
Grantor or Grantor's Attorney authorized representative in a deed transferring interest Ir the real estate described in the accompanying deed and
further stales This transfer IS EXEMPT FROM THE ILLINOIS PLAT ACT(7651 LCS 2051 BECAUSE OF THE FOLLOWING:
IJ NOT A DIVISION OF LAND-PARCEL BOUNDARIES REMAIN UNCHANGED(The Recorder will proceed with recording the deed and no
further questions apply. County Plat Officer signature is NOT required. Please sign below and have notarized)
❑ A DIVISION OF LAND THAT MEETS ONE OF THE FOLLOWING EXCEPTIONS - APPROVAL BY COUNTY PLAT OFFICER OR
DESIGNEE)IS REQUIRED ALONG WITH APPA ICABLE FEE PRIOR TO RECORDING,
❑ The divisions or subdivision of land into parcels or Mads of 5 acies us more in size which does not involve any new streets or
easements of access.
❑ The division of lots or blocks of less than 1 acre in any recorded subdivision which does not involve any new streets or easements of
access.
LI The sale or exchange of parcels of land between owners of adjoining and contiguous land.
❑ The conveyance of parcels of land or interest therein for use as a right of way for railroads or other public uUlily facilities and other pipe
lines which does not involve any new streets or easements of access.
❑ The conveyance of land for highway or other public purposes or grants or conveyances relating to the dedication of land for public use or
instruments relating to the vacation of land impressed with a public use.
❑ Conveyances made to correct descriptions in prior conveyances.
❑ The sale or exchange of parcels or tracts of land following the division into no more than 2 parts of a particular parcel or tract of land
existing on July 17,1959 and not involving any new streets or easements of access.
❑ The sale of a single lot of fess than 5 acres from a larger tract when a survey is made by an Illinois Registered Land Surveyor;provided
that this exemption shall not apply to the sale of any subsequent lots from the same larger tract of land, as determined by the dimensions
and configuration of the larger tract on October 1, 1973,and provided also that this exemption does not invalidate any local requirements
applicable to the subdivision of and.
❑ The preparation of a plat for wind energy devised under section 10-620 of the Property Tax Code.
❑ Division meets criteria for agricultural exemption
I swear to the best of my knowledge that the statements contained herein are true and correct. GrantorlGrantor's Attorney further states
that this affidavit for the purpose of indicating to THE RECORDER OF DEEDS OF FULTON COUNTY,ILLINOIS,that the conveyance by the
attached instrument is within,and in compliance with,the provi ' ns of the Illinois Plat Act.
�
Named �n
ufricv L- / &h ) Signature: " I . �_ L1/�V�e�ey� /(-/y -C&
Name Signature: 1 Date.
Subscribed and sworn to before me this H V1 day of /'//�/o , 20 /
jkittys
a OFFICIAL IAL S:AI
roJETJ?o TRAVIS •
"?'' -STATEG II90j
C0111.ISSIONEXRRESO 29/17 NLury PubiE
Approval for State Plat Act,County Subdivision and Zoning Code Purposes: SURVEY REQUIRED FOR RECORDING: Yes❑ No❑
Fulton County Plat Officerldesignee: Date:
(NOTE: County Plat Officer signature required for properties only in the UNINCORPORATED areas of Fulton County)