HomeMy WebLinkAbout#5151 Pre-Annexation Leander Construction RESOLUTION NO. 5151
A RESOLUTION APPROVING A PRE-ANNEXATION AGREEMENTcBETWEEN THE
CITY OF CANTON AND LEANDER CONSTRUCTION.
WHEREAS, the Canton City Council has determined that it is necessary and in the best
interest of the City of Canton that the attached Pre-Annexation Agreement be approved and
entered into by the City of Canton; and,
WHEREAS,the Canton City Council has made a similar determination.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF CANTON, Fulton County, Illinois as follows:
1. That the Canton City Council hereby finds the foregoing recitals to be fact.
2. That the Pre-Annexation Agreement, a copy of which is attached as Exhibit A,
is hereby approved by the Canton City Council and the Mayor and City Clerk are hereby
directed to execute and deliver the same 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 19 day of June,2018, upon a roll call vote as follows:
AYES: Aldermen Ryan Mayhew, Chris Jump,John Lovell, Craig West,
Angela Hale,Tad Putrich,Angeila Lingenfelter
NAYS: None
ABSENT: Alderman Justin Nelson
APPROVED: . A, i. W S
M 'to ell, ayor
Atte
Attel
Din.. Pavley-Rock, City Clerk
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PRE-ANNEXATION
THIS AGREEMENT, made by and between the CITY OF CANTON, ILLINOIS, a
municipal corporation, hereinafter referred to as "City" and LEANDER CONSTRUCTION,
INC., its heirs, administrators, executors, assigns and successors in title, hereinafter collectively
referred to as "Landowner", collectively representing that they are all (100%) of the owners of
the following described real property,
WITNESSETH:
WHEREAS, Landowner is the owner of a certain residential lot located in Canton,
Fulton County, Illinois, said lot being more particularly described as follows:
A part of the Southwest Quarter of Section 36,Township 7 North, Range 4 East of the
Fourth Principal Meridian, described as follow: Commencing at the Northeast corner of said
Southwest Quarter of Section 36,running thence South 104 Rods, 14 %:feet,more or less,thence
West in a direct line 61 rods, 6.75 feet; thence North in a direct line to the North line of said
Southwest Quarter; thence East along the north line of said Southwest Quarter to the place of
beginning,containing 39 acres,more or less.
Except: Part of the Southwest Quarter of Section 36,Township 7 North,Range 4 East of
the Fourth Principal meridian,Fulton County, Illinois, described as follows:
Beginning at the North east corner of the Southwest Quarter of Seciton 36, thence
Southwest to the Highway Right-of-Way marker on the South side of State Highway Route 9,
said Right-of-Way marker being the Point of Beginning. Thence West along the fence line 120
feet more or less; thence South 72 feet more or less; thence East 151 feet more or less to the
corner post of the North South fence on the West Right-of-Way line of County Highway 6;
thence North 42 feet more of less, to the Highway Right-of-Way marker of the West side of
County Highway 6; thence North 30 feet more or less; thence West 31 feet to the Right-of-Way
marker on the South side of State Route 9 and the Point of Beginning, subject to public
roadways.
PIN Number: 09-08-36-300-004
Common Address: 24472 N.County Hwy. 6, Canton,Illinois
WHEREAS, there is an existing water main located adjacent and contiguous to the real
estate owned by Landowner; and,
1
WHEREAS, said water main belongs to and is filled with water owned and furnished by
the City; and,
WHEREAS,the City has adopted a policy of not extending city services such as water to
real estate located outside municipal limits of the City of Canton, Illinois;and,
WHEREAS, Landowner desires to annex to the City of Canton in order to obtain said
city services, and particularly water services which are, at the present time, easily extendible to
their real estate; and,
WHEREAS, Landowner is not yet contiguous to the City of Canton and under the
Statutes of the State of Illinois, could not annex to the City of Canton in order to obtain said
services at the present time;and,
NOW THEREFORE, in consideration of the mutual covenants, payments and
conditions heretofore and hereinafter set out, the City and Landowner for themselves, assigns
and successors in title, do hereby agree as follows:
1. CITY'S WATER: The City hereby agrees to allow Landowner to tap said water main
and the City further agrees to furnish water to the real estate for residential purposes only
hereinabove described owned by Landowner once the tap and necessary hookups are completed.
2. OUT OF TOWN RATE: Landowner agrees to pay to the City of Canton double the
amount of prevailing rate inside the City of Canton for water used and consumed by using the
standard charge then prevailing for water in the City of Canton, Illinois, and multiplying that
prevailing charge per unit of water by two.
3. INSTALLATION: Landowner agrees to pay any and all installation expense, tap fees
and attorney's fees to the City of Canton necessary to accomplish the extension and furnishing of
water as hereinabove set out. Landowner also agrees to repair and replace, in substantially as
good a condition as it was prior to any excavation, any existing public or private roadway.
4. ANNEXATION: Particularly in consideration of the foregoing extension of and
furnishings of water service to the lot owned by Landowner hereby covenants and agrees for
themselves, its heirs, successors,administrator, executors,assigns and subsequent holders of title
to any part or all of the foregoing described real estate, that within sixty (60) days after being
given written notice by the City of Canton, Illinois, that the real estate, hereinabove described,
has become contiguous to the City of Canton, so that said real estate is capable of being annexed
to the City of Canton under the then existing Illinois State Statutes,Landowner,individually,and
for its successors in title, hereby covenant and agree that they will immediately cause to be
prepared and filed with the City of Canton a petition for annexation for the parcel or parcels
hereinabove described and proceed through normal procedural channels to have covenants herein
made by Landowner for its heirs, successors, executors, administrators,assigns and successors in
title, shall be deemed a covenant which shall run with and bind the real estate hereinabove
described for the term set out in the following paragraph.
5. TERM: This agreement, and the covenant, contained in the foregoing paragraph, shall be
deemed a covenant to nm with the land as aforesaid and shall continue to be a covenant running
2
with the land and binding the land and all successors in title until an annexation ordinance is
adopted by the City of Canton, or the successor in interest of the City of Canton, annexing the
above described parcel to the City of Canton. In no event shall the annexation of any part of the
foregoing premises in any way affect or release the covenant on the remaining part of the
premises, which is not annexed,to the City of Canton.
6. DEFAULT: In the event an annexation petition is not filed within the time limited by the
covenant above,the City shall have the following alternatives:
a. The City may file a petition in the Circuit Court of Fulton County, in equity or at
law, for the purpose of enforcing the covenant binding the land hereinabove set
out; or,
b. The City may elect to refuse to furnish or sell further water to Landowner, or its
successors in title who are in violation of the covenant.
7. RATE: In the event the property becomes contiguous and is annexed to the City of
Canton as provided in this agreement, then, and in that event, upon the signature of the Mayor
and City Clerk of the City of Canton upon said annexation ordinance, the "out of town" water
rate, hereinabove provided, shall terminate in its entirety and Landowner, and its successors in
interest, shall be charged the rate from time-to-time prevailing generally throughout the City of
Canton.
8. RELEASE: Upon the annexation of the premises herein, or a part thereof,the covenants
running with the land as hereinabove set out shall be deemed released, null and void as to that
portion or all of the real estate actually annexed, upon the filing of the annexation ordinance
and/or plat of the annexed territory with the Fulton County Recorder of Deeds as provided by the
Illinois Compiled Statutes.
9. RECORDING: The City Clerk,upon the adoption of this agreement or the ratification of
this agreement by the City Council, shall cause this agreement to be recorded with the Recorder
of Deeds of Fulton County, Illinois. Landowner shall reimburse the City for any recording fees
expended therefore by the City.
10. BENEFIT: The agreement is for the benefit of and is binding upon the assigns and
successors in title of the parties hereto.
DATED: This day of ,2018.
Landowner
3
STATE OF ILLINOIS, )
) SS.
COUNTY OF FULTON )
BEFORE me this day, a Notary Public, in and for the County in the State aforesaid, personally
appeared personally known to me to be the same person who
executed the foregoing agreement and that they acknowledged that they executed and delivered
said agreement as their free and voluntary act for the uses and purposes therein set forth.
GIVEN under my hand and Notary Seal this_day of ,2018.
Notary Public
CITY OF CANTON,ILLINOIS, an Illinois
Municipal Corporation,
By:
Kent A.McDowell,Mayor
Attest:
Diana Pavley-Rock, City Clerk
STATE OF ILLINOIS,
)SS.
COUNTY OF FULTON
BEFORE me this day, a Notary Public, in and for the County in the State aforesaid,
personally appeared Kent A. McDowell,personally known to me to be the Mayor of the City
of Canton, Illinois and Diana Pavley-Rock, personally known to me to be the City Clerk of
the City of Canton, personally known to me to be the same persons who executed the
foregoing agreement and that they acknowledged that they executed and delivered said
agreement as their free and voluntary act for the uses and purposes therein set forth.
GIVEN under my hand and Notarial Seal this day of , 20_
Notary Public
Prepared by and Return To:
CITY OF CANTON
2 N.Main Street
Canton,IL 61520
309-647-0065
4
I II IIIII 111111 IIIIIH
8 0 x40 67
1
1882012
JAMES I.NELSON
COUNTY CLERK&RECORDER
FULTON COUNTY,IL
RECORDED ON
08/03/2018 09:42 AM
RECORDING FEE 67.00
PAGES:4
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PRE-ANNEXATION
THIS AGREEMENT, made by and between the CITY OF CANTON, ILLINOIS, a
municipal corporation, hereinafter referred to as "City" and LEANDER CONSTRUCTION,
INC., its heirs, administrators, executors, assigns and successors in title, hereinafter collectively
referred to as "Landowner", collectively representing that they are all (100%) of the owners of
the following described real property,
WITNESSETH:
WHEREAS, Landowner is the owner of a certain residential lot located in Canton,
Fulton County, Illinois, said lot being more particularly described as follows:
A part of the Southwest Quarter of Section 36,Township 7 North, Range 4 East of the
Fourth Principal Meridian, described as follow: Commencing at the Northeast corner of said
Southwest Quarter of Section 36,running thence South 104 Rods, 14 1/2 feet, more or less,thence
West in a direct line 61 rods, 6.75 feet; thence North in a direct line to the North line of said
Southwest Quarter; thence East along the north line of said Southwest Quarter to the place of
beginning,containing 39 acres,more or less.
Except: Part of the Southwest Quarter of Section 36, Township 7 North, Range 4 East of
the Fourth Principal meridian,Fulton County, Illinois,described as follows:
Beginning at the North east corner of the Southwest Quarter of Seciton 36, thence
Southwest to the Highway Right-of-Way marker on the South side of State Highway Route 9,
said Right-of-Way marker being the Point of Beginning. Thence West along the fence line 120 •
feet more or less; thence South 72 feet more or less; thence East 151 feet more or less to the
corner post of the North South fence on the West Right-of-Way line of County Highway 6;
thence North 42 feet more of less, to the Highway Right-of-Way marker of the West side of
County Highway 6; thence North 30 feet more or less; thence West 31 feet to the Right-of-Way
marker on the South side of State Route 9 and the Point of Beginning, subject to public
roadways.
PIN Number: 09-08-36-300-004
Common Address: 24472 N. County Hwy. 6,Canton,Illinois
WHEREAS, there is an existing water main located adjacent and contiguous to the real
estate owned by Landowner;and,
1
WHEREAS, said water main belongs to and is filled with water owned and furnished by
the City; and,
WHEREAS,the City has adopted a policy of not extending city services such as water to
real estate located outside municipal limits of the City of Canton,Illinois;and,
WHEREAS, Landowner desires to annex to the City of Canton in order to obtain said
city services, and particularly water services which are, at the present time, easily extendible to
their real estate; and,
WHEREAS, Landowner is not yet contiguous to the City of Canton and, under the
Statutes of the State of Illinois, could not annex to the City of Canton in order to obtain said
services at the present time;and,
NOW THEREFORE, in consideration of the mutual covenants, payments and
conditions heretofore and hereinafter set out, the City and Landowner for themselves, assigns
and successors in title,do hereby agree as follows:
1. CITY'S WATER: The City hereby agrees to allow Landowner to tap said water main
and the City further agrees to furnish water to the real estate for residential purposes only
hereinabove described owned by Landowner once the tap and necessary hookups are completed.
2. OUT OF TOWN RATE: Landowner agrees to pay to the City of Canton double the
amount of prevailing rate inside the City of Canton for water used and consumed by using the
•
standard charge then prevailing for water in the City of Canton, Illinois, and multiplying that
prevailing charge per unit of water by two.
3. INSTALLATION: Landowner agrees to pay any and all installation expense, tap fees
and attorney's fees to the City of Canton necessary to accomplish the extension and furnishing of
water as hereinabove set out. Landowner also agrees to repair and replace, in substantially as
good a condition as it was prior to any excavation, any existing public or private roadway.
4. ANNEXATION: Particularly in consideration of the foregoing extension of and
furnishings of water service to the lot owned by Landowner hereby covenants and agrees for
themselves, its heirs, successors, administrator,executors, assigns and subsequent holders of title
to any part or all of the foregoing described real estate, that within sixty (60) days after being
given written notice by the City of Canton, Illinois, that the real estate, hereinabove described,
has become contiguous to the City of Canton, so that said real estate is capable of being annexed
to the City of Canton under the then existing Illinois State Statutes,Landowner,individually, and
for its successors in title, hereby covenant and agree that they will immediately cause to be
prepared and filed with the City of Canton a petition for annexation for the parcel or parcels
hereinabove described and proceed through normal procedural channels to have covenants herein
made by Landowner for its heirs,successors, executors, administrators, assigns and successors in
title, shall be deemed a covenant which shall run with and bind the real estate hereinabove
described for the term set out in the following paragraph.
5. TERM: This agreement, and the covenant, contained in the foregoing paragraph, shall be
deemed a covenant to run with the land as aforesaid and shall continue to be a covenant running
2
with the land and binding the land and all successors in title until an annexation ordinance is
adopted by the City of Canton, or the successor in interest of the City of Canton, annexing the
above described parcel to the City of Canton. In no event shall the annexation of any part of the
foregoing premises in any way affect or release the covenant on the remaining part of the
premises,which is not annexed,to the City of Canton.
6. DEFAULT: In the event an annexation petition is not filed within the time limited by the
covenant above,the City shall have the following alternatives: •
a. The City may file a petition in the Circuit Court of Fulton County, in equity or at
law, for the purpose of enforcing the covenant binding the land hereinabove set
out; or,
b. The City may elect to refuse to furnish or sell further water to Landowner, or its
successors in title who are in violation of the covenant.
7. RATE: In the event the property becomes contiguous and is annexed to the City of
Canton as provided in this agreement, then, and in that event, upon the signature of the Mayor
and City Clerk of the City of Canton upon said annexation ordinance, the "out of town" water
rate, hereinabove provided, shall terminate in its entirety and Landowner, and its successors in
interest, shall be charged the rate from time-to-time prevailing generally throughout the City of
Canton.
8. RELEASE: Upon the annexation of the premises herein, or a part thereof,the covenants
running with the land as hereinabove set out shall be deemed released, null and void as to that
portion or all of the real estate actually annexed, upon the filing of the annexation ordinance
and/or plat of the annexed territory with the Fulton County Recorder of Deeds as provided by the
Illinois Compiled Statutes.
9. RECORDING: The City Clerk, upon the adoption of this agreement or the ratification of
this agreement by the City Council, shall cause this agreement to be recorded with the Recorder
of Deeds of Fulton County, Illinois. Landowner shall reimburse the City for any recording fees
expended therefore by the City.
10.BENEFIT: The agreement is for the benefit of and is binding upon the assigns and
successors in title of the parties hereto.
DATED: This 36 day of 4„ I , 40,18.
110411,9'
46.0
Landowner
3
STATE OF ILLINOIS, )
) SS.
COUNTY OF FULTON )
BEFORE me this day, a Notary Public, in and for the County in the State aforesaid, personally
appeared Todd i40 n4'6- , personally known to me to be the same person who
executed the foregoing agreement and that they acknowledged that they executed and delivered
said agreement as their free and voluntary act for the uses and purposes therein set forth.
GIVEN under my hand and Notary Seal this 30 day of ,2018.
m r r.iAi r F t,
M:i'` `'101 !:1-Th 'L ♦ -� ' ( 14
Notitry P, E)!, L'Aale t:i C I t/ .
'ir,n;C4,rrrliViS1 P,I_ JI, O;1 Notary Public (v�
CITY OF CANTON,ILLINOIS, an Illinois
Municipal Corporation, ')/)
By: - t 4-jAA...t , 0l
Kent A. McD ell ayor
Attest: .,.�,, .
�`i'' .Pavey-Roc."-ity lerk
STATE OF ILLINOIS, )
) SS.
COUNTY OF FULTON )
BEFORE me this day, a Notary Public, in and for the County in the State aforesaid,
personally appeared Kent A. McDowell,personally known to me to be the Mayor of the City
of Canton, Illinois and Diana Pavley-Rock, personally known to me to be the City Clerk of
the City of Canton, personally known to me to be the same persons who executed the
foregoing agreement and that they acknowledged that they executed and delivered said
agreement as their free and voluntary act for the uses and purposes therein set forth.
GIVEN under my hand and Notarial Seal this It? day of ,20 / .
t:tt
Notary Public
Prepared by and Return To:
CITY OF CANTON
2 N.Main Street OFFICIAL SEAL
Canton,IL 61520 CAROL E KOHLER
309-647-0065 NOTARY PUBLIC-STATE OF ILLINOIS
MY COMMISSION EXPIRES:10/02/18
4
Promissory Installment Note
1. RECITATIONS:
Date: October 1 2- , 2018
Borrowers: Lynn Fuller, d/b/a Fuller's Jewelry, Inc.
Borrowers' Addresses: 413 West Chestnut Street, Canton, Illinois 61520 (business address
46 N. Main St., Canton, IL 61520)
Lender: City of Canton
Place for Payment: 2 North Main Street, Canton, Illinois 61520
Principal Amount: $33,000.00; Remaining Balance $18,259.45 as of November 1,
2018
Term: Monthly(60 months); Remaining Term 32 Months
Monthly Payments: $592.97
Maturity: June 1,2021
2. PROMISE TO PAY. Borrower (Lynn Fuller) promises to pay lender, or order, any
lawful money of the United States of America, the principal amount of eighteen thousand two
hundred fifty-nine dollars and forty-five cents ($18,259.45) together with interest at the rate of
3% per annum on the unpaid principal balance from November 1, 2018, until paid in full. The
original amount owed by Dan Fuller, which was a borrower under a May 6, 2016 Promissory
Installment Note, totaled thirty-three thousand dollars ($33,000.00). Borrower is assuming the
May 6, 2016 Promissory Installment Note executed by Dan Fuller and shall now be fully
responsible for the remainder of the outstanding installments as fully detailed in this Promissory
Installment Note and the original May 6, 2016 Promissory Installment Note. Dan Fuller used the
initial funds for the demolition and reconstruction of the north wall and the repair and restoration
of the west(rear) wall of the building located at 46 N. Main Street, Canton, Illinois.
3. INTEREST RATE. Annual interest rate on matured, unpaid amounts shall be at the rate
of three percent(3%).
4. PAYMENT TERMS. Borrower will pay the remainder of this loan in thirty-two (32)
equal payments of five hundred ninety-two dollars and ninety-seven cents ($592.97) each
payment, subject to the amortization schedule attached hereto and incorporated herein as Exhibit
A. Said amortization schedule is the original schedule as utilized in the May 6, 2016 Promissory
Installment Note. Borrower's first payment is due November 1, 2018, and all subsequent
payments are due on the same day of each month thereafter. Borrower's final payment will be
due on June 1, 2021 and will be for all principal and accrued interest not yet paid. Payments
include principal and interest. Unless otherwise agreed or required by applicable law, payments
will be applied first to any accrued unpaid interest; then to principal; then to any unpaid
collection costs; and then to any late charges. The annual interest rate for this promissory
installment note is computed on a 365/360 basis; that is, by applying the ratio of the annual
interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied
by the actual number of days the principal balance is outstanding.
5. PRE-PAYMENT. Borrower may pay without penalty all or a portion of the amount
owed earlier than it is due. Early payments will not, unless agreed to by lender in writing,
relieve Borrower of obligation to continue to make payments under the amortization schedule.
Rather, early payments will reduce the principal balance due and may result in Borrower making
fewer payments. Borrower agrees not to send Lender's payments marked "paid in full",
"without recourse", or similar language. If Borrower sends such a payment, Lender may accept
it without losing any of Lender's rights under this note, and Borrower will remain obligated to
pay any further amount owed to Lender. All written communications concerning disputes
amounts, including any check or payment instrument that indicates that the payment constitutes
"payment in full" of the amount owed where that is tendered with other conditions or limitations
or as full satisfaction of the disputed amount must be made or delivered to "City of Canton, 2 N.
Main Street, Canton, IL 61520".
6. PLACE FOR PAYMENT. Borrower will pay Lender at Lender's address shown above
or at such other place as Lender may designate in writing.
7. DEFAULT AND ACCELERATION CLAUSE. If Borrower defaults in the payment
of this note or in the performance of any obligation, including, but not limited to those noted
below, and the default continues after Lender gives Borrower notice of the default and the time
in which it must be cured, as may be required by law or written agreement, then the Lender may
declare the unpaid principal balance on this Promissory Installment Note immediately due.
Borrower and each surety, endorser, and guarantor waive all demands for payment, presentation
for payment, notices of intentions to accelerate maturity, notices of acceleration of maturity,
protests and notices of protest, to the extent permitted by law.
Each of the following shall constitute an event of default under this note:
a. Payment default: Borrower fails to make any payment when due under this
note.
b. Other defaults: Borrower fails to comply with or to perform any other term,
obligation, covenant or condition contained in this note, or
in any of their related contained in any other agreement
between Lender and Borrowers.
c. Default in favor of third parties: Borrower or any guarantors defaults under
any loan, extension of credit, security agreement, purchase
for sales agreement, or any other agreement, in favor of any
other creditor or person that may materially affect any of the
2
Borrower's property or borrowers' ability to repay this note
or perform Borrower's obligation under this note or any
other related documents.
d. False statements: Any warranty, representation or statement made or
furnished to Lender by Borrower or on Borrower's behalf
under this note or the related documents as false or
misleading in any material respect, either now or at the time
made or furnished or becomes false or misleading at any
time thereafter.
e. Insolvency: The dissolution or termination of Borrower's existence as a
business, the insolvency of Borrower, the appointment of a
receiver for any part of Borrower's property, any assignment
for the benefit of creditors, any type of creditor workout, or
the commencement of any preceding under any bankruptcy
or insolvency laws by or against Borrower.
f. Adverse change: A material adverse change occurs in Borrower's
financial condition, or Lender believes the prospect of
payment or performance of this note is impaired.
g. Insecurity: Lender in good faith believes itself insecure.
8. INTEREST ON PAST DUE INSTALLMENTS AND CHARGES. All past due
installments of principal and/or interest and/or all other past-due incurred charges shall bear
interest after maturity at the maximum amount of interest permitted by the Laws of the State of
Illinois until paid in full. Failure by Borrower to remit any payment by the fifteenth (15th) day
following the date that such payment is due shall incur a thirty-five dollar ($35.00) late fee. If
Borrower fails to remit payment by the thirtieth (30th) day following the date that such payment
is due entitles the Lender hereof to declare the entire principal and accrued interest immediately
due and payable. The Lender's forbearance in enforcing a right or remedy as set forth herein
shall not be deemed a waiver of said right or remedy for a subsequent cause, breach or default of
the Borrower's obligations herein.
9. INTEREST. Interest on this debt evidenced by this Note shall not exceed the maximum
amount of non-usurious interest that may be contracted for, taken, reserved, charged, or received
under law; any interest in excess of the maximum shall be credited on the principal of the debt
or, if that has been paid, refunded. On any acceleration or required or permitted prepayment, any
such excess shall be canceled automatically as of the acceleration or prepayment or, if already
paid, credited on the principal of the debt or, if the principal of the debt has been paid, refunded.
10. FORM OF PAYMENT. Any check, draft, money order, or other instrument given in
payment of all or any portion hereof may be accepted by the holder and handled in collection in
the customary manner, but the same shall not constitute payment hereunder or diminish any
rights of the holder hereof except to the extent that actual cash proceeds of such instruments are
3
unconditionally received by the Lender and applied to this indebtedness in the manner elsewhere
herein provided.
11. ATTORNEY'S FEES; EXPENSES. If this Note is given to an attorney, including any
attorney within the employ of the City of Canton, for collection or enforcement, or if suit is
brought for collection or enforcement, or if it is collected or enforced through probate,
bankruptcy, or other judicial proceeding, then Borrower shall pay the Lender all costs of
collection and enforcement, including reasonable attorney's fees and expenses in addition to
other amounts due.
12. CONFESSION OF JUDGEMENT. Borrower hereby irrevocably authorizes and
empowers any attorney at law to appear in any court of record and to confess judgment against
Borrower for the unpaid amount of this Note as evidenced by an affidavit signed by an officer or
elected official of the Lender setting forth the amount then due, attorney's fee plus cost of suit, to
release all errors, and waive all rights of appeal. If a copy of this Note, verified by an affidavit,
shall have been filed in the preceding, it will not be necessary to file the original as a warrant of
attorney. Borrower waives the right to any stay of execution and the benefit of all exemption
laws now or hereafter in effect. No single exercise of the forgoing warrant in power to confess
judgment will be deemed to exhaust the power, whether or not any such exercise shall be held by
any court to be invalid, violable, or void; but the power will continue undiminished and may be
exercised from time to time as the Lender may elect until all amounts owed on this Note have
been paid in full. Borrower hereby waives and releases any and all claims or causes of action
which Borrower might have against any attorney acting under the terms of authority which
Borrower has granted herein arising out of or connected with the confession of judgment
hereunder.
13. SEVERABILITY. If any provision of this Note or the application thereof shall, for any
reason and to any extent, be invalid or unenforceable, neither the remainder of this Note nor the
application of the provision to other persons, entities or circumstances shall be affected thereby,
but instead shall be enforce to the maximum extent permitted by law.
14. BINDING EFFECT. The covenants, obligations and conditions herein contained shall
be binding on and inure to the benefit of the heirs, legal representatives, and assigns of the
parties hereto.
15. DESCRIPTIVE HEADINGS. The descriptive headings used herein are for
convenience of reference only and they are not intended to have any effect whatsoever in
determining the rights or obligations under this Note.
16. CONSTRUCTION. The pronouns used herein shall include, where appropriate, either
gender or both, singular or plural.
17. GOVERNING LAW. This Note shall be governed, construed and interpreted by,
through and under the Laws of the State of Illinois.
4
PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE
PROVISIONS OF THIS NOTE. BORROWER AGREES TO THE TERMS OF THIS NOTE.
BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS
PROMISSORY NOTE.
EXECUTED this IA day of October, 2018.
BORROWER:
LYNN FULLER, d/b/a Fuller Jewelry, Inc.
By: 4441 rabill
Lynn Fuller
( '''
Attest:
By: , - Ti-_-.....4„..... e/L.
5
ILA
Fuller Jewelry Amortization Schedule
Enter values
Loan amount S 33,000.00
Annual interest rate 3.000%
Loan period in years 5
Start date of low 6/1/2016
Monthly payment S 592.97
Number of payments 60
Total interest $ 2,578.01
Total cost of loan $ 35,578.01
Payment Qeginnin4 Ending
No. Date Balance Payment Principal Interest Balance
1 7/1/2016 5 33,000.00 $
_.. 592.97 S 510.47 $ 82.50 S 32,489.53
2 8/1/2016 S 32,489.53 S 592.97 S 511.74 $ 81.22 $ 31,977.79
3 9/1/2016 $ 31,977.79 S 592.97 $ 513.02 $ 79.94 $ 31,464.77
4 10/1/2016 S 31,464.77 S 592.97 $ 514.30 $ 78.66 $ 30,950.46
5 11/1/2016 $ 30,950.46 $ 592.97 $ 515.59 $ 77.38 $ 30,434.87
6 12/1/2016 S 30,434.87 S 592.97 $ 516.88 S 76.09 $ 29,917.99
7 1/1/2017 $ 29,917.99 S 592.97 $ 518.17 5 74.79 $ 29,399.82
8 2/1/2017 $ 29,399.82 $ 592.97 $ 519.47 $ 73.50 $ 28,880.35
9 3/1/2017 $ 28,880.35 $ 592.97 S 520.77 $ 72.20 $ 28,359.59
10 4/1/2017 S 28,359.59 $ 592.97 S 522.07 S 70.90 $ 27,837.52
11 5/1/2017 $ 27,837.52 S 592.97 5 523.37 S 69.59 $ 27,314.15
12 6/1/2017 $ 27,314.15 $ 592.97 S 524.68 5 68.29 $ 26,789.47
13 7/1/2017 S 26,759.47 S 592.97 $ 525.99 S 66.97 $ 26,263.47
14 8/1/2017 5 26,263.47 $ 592.97 $ 527.31 S 65.66 $ 25,736.16
15 9/1/2017 $ 25,736.16 S 592.97 $ 528.63 S 64.34 S 25,207.54
16 10/1/2017 S 25,207.54 $ 592.97 $ 529.95 $ 63.02 $ 24,677.59
17 11/1/2017 S 24,677.59 $ 592.97 S 531.27 S 61.69 $ 24,146.32
18 12/1/2017 $ 24,146.32 $ 592.97 $ 532.60 S 60.37 $ 23,613.72
19 1/1/2018 S 23,613.72 $ 592.97 $ 533.93 S 59.03 S 23,079.78
20 2/1/2018 $ 23,079.78 $ 592.97 S 535.27 $ 57.70 $ 22,541.52
21 3/1/2018 5 22,544.52 $ 592.97 $ 536.61 $ 56.36 S 22,007.91
22 4/1/2018 S 22,007.91 $ 592.97 $ 537.95 S 55.02 S 21,469.96
23 5/1/2018 S 21,469.96 S 592.97 S 539.29 S 53.67 S 59,930.67
24 6/1/2018 S 20,930.67 5 592.97 $ 540.64 $ 52.33 S 20,390.03
25 7/1/2018 5 20,390.03 $ 592.97 S 541.99 S 50.95 $ 19,548.04
26 8/1/2018 $ 19,848.04 $ 592.97 $ 543.35 $ 49.62 5 19,304.69
1 • r
Payment gni Endfng
No. Date Beam Payment Prindpal Interest Balance
27 9/1/2018 S 19,304.69 $ 592.97 $ 544.71 S 48.26 $ 18,759.99
28 10/1/2018 $ 18,739.99 $ 592.97 $ 546.07 $ 46.90 $ 18,213.92
29 11/1/2018 $ 18,213.92 $ 592.97 $ 547.43 $ 45.53 S 17,666.49
30 12/1/2018 $ 17,666.49 $ 592.97 $ 548.80 $ 44.17 5 17,117.69
31 1/1/2019 $ 17,117.69 $ 592.97 $ 550.17 $ 42.79 $ 16,567.52
32 2/1/2019 $ 16,567.52 S 592.97 $ 551.55 S 41.42 $ 16,015.97
33 3/1/2019 $ 16,015.97 $ 592.97 S 552.93 $ 40.04 $ 15,463.04
34 4/1/2019 $ 15,463.04 $ 592.97 $ 554.31 $ 38.66 $ 14,908.73
35 5/1/2019 $ 14,908.73 $ 592.97 $ 555.69 $ 37.27 $ 14,393.04
36 6/1/2019 $ 14,353.04 $ 592.97 $ 557.08 $ 35.88 $ 13,795.95
37 7/1/2019 $ 13,795.95 $ 592.97 $ 558.41 S 34.49 $ 13,237.48
38 8/1/2019 $ 13,237.48 $ 592.97 $ 559.87 $ 33.09 $ 12,677.60
39 9/1/2019 $ 12,677.60 $ 592.97 $ 561.27 $ 31.69 $ 12,116.33
40 10/1/2019 $ 12,116.33 $ 592.97 $ 562.68 S 30.29 $ 11,553.65
41 11/1/2019 $ 11,553.65 $ 592.97 $ 564.08 $ 28.88 $ 10,989.57
42 12/1/2019 $ 10,989.57 $ 592.97 $ 565.49 $ 27.47 $ 10,424.08
43 1/1/2020 $ 10,424.08 $ 592.97 $ 566.91 $ 26.06 $ 9,857.17
44 2/1/2020 $ 9,857.17 $ 592.97 $ 568.32 S 24.64 $ 9,288.85
45 3/1/2020 $ 9,288.85 $ 592.97 $ 569.74 $ 23.22 $ 8,719.10
46 4/1/2020 $ 8,719.10 $ 592.97 $ 571.17 $ 21.80 $ 8,147.93
47 5/1/2020 $ 8,147.93 $ 592.97 $ 572.60 $ 20.37 $ 7,575.34
48 6/1/2020 $ 7,575.34 $ 592.97 $ 574.03 $ 18.94 $ 7,001.31
49 7/1/2020 $ 7,001.31 $ 592.97 $ 575.46 $ 17.50 $ 6,425.85
50 8/1/2020 $ 6,425.85 $ 592.97 $ 576.90 S 16.06 $ 5,848.94
51 9/1/2020 $ 5,848.94 $ 592.97 S 578.34 S 14.62 $ 5,270.60
52 10/1/2020 $ 5,270.60 $ 592.97 $ 579.79 S 13.18 $ 4,690.81
53 11/1/2020 S 4,690.81 $ 592.97 $ 581.24 5 11.73 5 4,109.57
54 12/1/2020 $ 4,109.57 $ 592.97 $ 582.69 $ 10.27 $ 3,526.88
55 1/1/2021 $ 3,526.88 S 592.97 $ 554.15 $ 8.82 $ 2,942.73
56 2/1/2021 $ 2,942.73 $ 592.97 $ 585.61 $ 7.36 $ 2,357.12
57 3/1/2021 5 2,357.12 S 592.97 $ 587.07 $ 5.89 $ 1,770.04
58 4/1/2021 $ 1,770.04 $ 592.97 $ 588.54 $ 4.43 $ 1,181.50
59 5/1/2021 S 1,181.50 $ 592.97 $ 590.01 $ 2.95 $ 591.49
60 6/1/2021 $ 591.49 5 592.97 $ 591.49 S 1.48 $ .