HomeMy WebLinkAboutResolution #3145RE90LUTIpV ND. 3],45
A RE90LUT I ~V APPRON 1 NG AN AGREDuENT BETVIEEN Tlf C 1 TY OF CANTON AND
I.ARfaAA P I ZZA, I NIC. AND D 1 RECT I NG Ti-E MAIfQ~ AND CITY CLERIC TO E~CUTE
AND DELIVER SA 1 D At~'~EIuDYf aV 13EI-IALF OF TFE C 1 TY OF CANTgV, 1 LL I ND I S .
WfJiIFAS, the City of Canton, Illinois has entered into
negotiations with LaRoma Pizza, Inc. for the sale of 2.302 acres in the
City's Enterprise Industrial District; and,
W-E'REAS, the City Council of the City of Canton, Illinois has
reviewed the terms of the proposed agreement, a copy of which is hereto
attached and made a part hereof as Exhibit "A"; and,
W-EREAS, the City Council of the City of Canton has determined
that it is desirable and in the best interest of the City of Canton to
enter into said agreement.
NaAI, TI-IEAEFaRE, 8E I T RESOLVED BY TI-E CITY OOI~C 1 L aF' 'Il-E CITY aF
CAWTpV, Fulton County, Illinois as follows:
1. That the agreement between the City of Canton and LaRoma
Pizza, Inc., which is attached hereto and made a part hereof as Exhibit
"A", is hereby approved, said Agreement to be subject to and effective
pursuant to the terms and conditions set forth therein.
2. That the Mayor and City Clerk are hereby authorized and
directed to execute and deliver said agreement on behalf of the City of
Canton, Illinois.
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.
PASSED by the City Council of the City of Canton, Fulton County,
Illinois at a regular meeting this 6th day of October, 1992, upon a
roll call vote as follows:
AYES: Aldennen Ma.~r, C~.ia~man~ Meade., Bohl,er, Steck, Sarff, Coay, Moll,eck,
~-~ ~ None .
Name,
APPFmVED:
~~~~ ~~.
Donald E. Edwards, Mayor
ATTEST:
v ,, U~i'1'l/y`iil~
Nancy Whit s, City Clerk
~EIuFJ~ff ND.
~ulEMf FaR SALE OF REAL ESTATE
ARTICLES OF AGREEMENT, made as of this day of
1992 between the City of Canton, an Illinois
municipal corporation, hereinafter called "Seller", and LaRoma Pizza,
Inc., an Illinois corporation, hereinafter called "Buyer" witnesseth,
that, if the Buyer shall first make the payments and perform the
covenants hereinafter mentioned on its part to be made and performed,
the Seller hereby covenants and agrees to convey merchantable title to
the Buyer by a good and sufficient Quit-Claim Deed, the lot, pieces, or
parcel of ground, situated in the City of Canton, County of Fulton and
State of Illinois, described as follows, to-wit:
Lot Number Three (3) of the Enterprise Industrial District
pursuant to the Subdivision Plat thereof filed in the Fulton
County (Illinois) Recorder's Office on October 26, 1984, as
Instrument Number 84-8960, containing 2.302 acres, more or
less, subject to all present and future easements, covenants,
and, restrictions, all of the foregoing real property being
situated in the City of Canton, County of Fulton and State of
Illinois.
And the Buyer hereby covenants and agrees to pay to the Seller at
the office of the City Clerk, City Building, 210 East Chestnut Street,
Canton, Illinois 61520 the sum of Eleven Thousand Five Hundred Ten
Dollars ($11,510.00).
EXHIBIT "A"
RESOLUTION N0.
1
Possession to be given upon execution and delivery hereof, to
include tender of the sum of $11,510.00. A title insurance policy in
owner of record at date of conveyance shall be furnished by Seller for
examination by Buyer.
Both Seller and Buyer agree that the subject property is part of
the Enterprise Industrial District being developed by Seller. Buyer
agrees to use the above described real property only in conformity with
City of Canton Zoning Ordinance (now codified as Title 10, Chapter 1
through 20, inclusive, of the Canton Municipal Code) as the same is now
promulgated and as the same may hereafter be amended. Buyer agrees to
use the above described real property in conformity with all applicable
rules or regulations of the State of Illinois Environmental Protection
Agency, of the Federal Environmental Protection Agency, and of the
Federal Aviation Administration (with respect to the height and
placement of i~rovements on the subject real property, as well as
other associated matters).
Buyer recognizes that Seller is now in the process of developing
restrictive covenants and other land use controls to be hereafter
applied to the Enterprise Industrial District, of which the above
described real property is apart. Buyer hereby irrevocably agrees
that it shall take title to the above described real property subject
to any and all such restrictive covenants or land use controls to be
hereafter developed by the City of Canton.
Still, further, both Seller and Buyer agree that part of the
mutual inducements forming a part of this Agreement is the creation and
retention of jobs in the Enterprise Industrial District. Accordingly,
2
Seller and Buyer both hereby agree that gross sales price set forth on
Page 1 of this Agreement shall be modified as follows: A sum equal to
$230.20 multiplied by the number of permanent jobs created by Buyer one
year from the date hereof shall be deducted from the aforesaid gross
sale price. For purposes of this paragraph, a "permanent job" shall be
any job created by the Buyer and reported to the State of Illinois by
Buyer for State Income Tax purposes on the first anniversary of this
Agreement which is then permanently filled. The number of such
permanent jobs shall be certified to the Canton City Council by the
City of Canton's Community Development Director and Buyer hereby
irrevocably agrees to abide by the number of permanent jobs so
certified. Buyer agrees to make its books and records available to the
City of Canton, its officers and employees for purposes of such
certification. Such modification shall be made by Seller within sixty
(60) days after the first anniversary of this Agreement. Seller shall,
within such period, reimburse to Buyer that portion, if any, of the
gross sales price, computed as aforesaid, without interest, within said
sixty (60) day period.
Notice shall be given to any party hereto by United States mail,
certified mail, return receipt requested, and directed to the following
addresses:
To Seller: City Clerk
City Building
210 East Chestnut Street
Canton, Illinois 61520
3
Any notice given to the Seller shall include an informational
copy, mailed as aforesaid, and addressed to the attention of the city
Attorney at the above stated address.
To Buyer: LaRoma Pizza, Inc.
2 Enterprise Drive
Canton, Illinois 61520
OTHER TERMS Af~D OOI~D I T I ONS
Notwithstanding the provisions of this Agreement found at Page 1
hereof, the gross sales price set forth at Page 1 of this Agreement
shall not be modified so as to fall below a modified gross sales price
of $4,604.00.
Both Seller and Buyer covenant and agree that the covenants, terms
and conditions of this Agreement shall survive the closing herein
contemplated and shall continue to be binding upon each of said
parties.
Both Seller and Buyer irrevocably covenant and agree that part of
the mutual consideration supporting this Agreement is the Buyer's
agreement to create existing jobs in the Enterprise Industrial District
or Buyer's agreement to create new jobs in the Enterprise Industrial
District. In the event that the Buyer has not created or retained
those permanent jobs represented by Buyer to Seller to be created then
Seller may, in its sole and exclusive option, declare this agreement a
nullity and enter upon and retake possession of the aforesaid premises
without notice to Buyer and without process of law.
4
Buyer shall from the date hereof and during the pendency of this
agreement pay all general real estate taxes on the above described
premises and pay all special assessments thereon, if any, saving Seller
whole and harmless therefrom.
IN WITNESS Wi-EREOF, Seller and Buyer have executed duplicate
originals of this Agreement for Sale of Real Estate as of the date
first above-mentioned.
BUYER
LaRoma Pizza, Inc., an
Illinois corporation,
SELLER:
City of Canton, an Illinois
municipal corporation,
BY:
Its President
DATE:
ADDRESS: 2 Enterprise Drive
Canton, Illinois 61520
Pt-i01~E : ( 309 ) 647-0594
ATTEST:
Corporate Secretary
BY:
Its Mayor
DATE:
ADDRESS: 210 East Chestnut Street
Canton, Illinois 61520
Pf-bIVE: (309) 647-0065/0020
ATTEST:
City Clerk
(OORPORATE SEAL) (CORPORATE SEAL)
5