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Home My WebLink AboutResolution #2092RESOLUTION ND. 2092 A RESOLUT 1 ON APPROVING AN AL~REDVpV'f BL-IVIIEpV Ti-E C 1 TY OF (`.~IVTON A(~p EDN~ POLLITT AND DIRECTING TI-E M4YOR AND CITY CLERK TO EXECUTE AND DEL 1 VER SA I D At~EiVE]VT ON Bp-{ALF OF TF-E C I TY OF G4NTON, I LL I Nq I S , Hrf-ERE~4S, the City of Canton, I l l i not s has entered i nto negotiations with Edward Pollitt for the sale of 1.895 acres in the City's enterprise Industrial District; and, WI-EREAS, the Lake, Buildings and Grounds Committee has determined that it is necessary and in the best interest of the City of Canton to enter into an agreement with Edward Pollitt, hereto attached and herein incorporated as Exhibit "A"; and, 1M-EREAS, the Canton City Council has made a similar determination. NIaIV, 11-EREFORE, BE I T RESOLVED BY TI-E CITY OOINC I L OF TFf C 1 TY OF CANTON, Fulton County, Illinois as follo`vs: 1. That the agreement hereto attached as Exhibit "A" between the City of Canton and Edward Pollitt is made a part hereof and 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 reimbursement 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 March. 1990 upon a roll call vote as follows: AYES: Aldermen Kovachevich, Zlly, Steck, Sar~f, Meade, Bohler, Chapman. NAYS: None. ABSENT: Alderman May. AP ~a~~~ , ~ Donald E. Edwards, Mayor ATTEST: Nancy White City Clerk AC~EOVEN7' N0. 494 AC~2EDuENT FOR SALE OF REAL ESTATE ARTICLES OF AGREEMENT, made as of this 8th day of March ~ 1990 between the City of Canton, an Illinois municipal corporation, hereinafter called "Seller", and Edward Pollitt, 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 Eleven (11) 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, subject to all easements of record and, further, subject to all restrictive covenants andlor land use controls which Seller, or, Seller's successors and assigns may place on said Lot #11, all 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 Nine Thousand Four Hundred Seventy Five Dollars (9,475.00) in the manner following: The sum of $1,895.00 upon execution and delivery hereof, and, payments of $1,895.00 each on or before the first, second, third, and fourth anniversary date of this agreement. Possession to be given upon execution and delivery hereof. A title insurance policy in owner of record at date of conveyance shall be furnished by Seller for examination by Buyer not less than thirty (30) days before the last scheduled payment. 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 improvements 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 a part. 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, 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 $189.50 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. P~otice shall be given to any party hereto by United Sates 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 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: Edward Pollitt 11 Enterprise Drive Canton, Illinois 61520 2 OTI-fR TERMS AND CCND 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 $3,790.00. 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. 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. Buyer shall not allow any liens or encumbrances of any nature or description to attach to the above described real property unless Seller first gives its written consent thereto. Except for notification to the Fulton County Assessor's office of the existence of this agreement, Buyer shall not file either this agreement or any memorandum thereof with the Fulton County Recorder of Deeds. Buyer shall, contemporaneously therewith, execute and deliver to Seller its quit-claim deed in form and content satisfactory to Seller's attorney which quit-claim deed shall be held in escrow by Seller during the life of this agreement; and, in the event Buyer defaults in any provision hereof, or, in the event Seller declares a default in the premises of this agreement, Buyer hereby irrevocably authorizes Seller to file said quit-claim deed of record and to reenter and take possession of said Lot #11. IN WITNESS W4-EREOF, Seller and Buyer have executed duplicate originals of this Agreement for Sale of Real Estate as of the date first above-mentioned. BUYER Edward Pollitt ~~ BY : ~~,~e~ c~7% Edward Pollitt SELLER: City of Canton, an Illinois municipal corporation, '~~ I t se Mayo r 3 aq~ . D4arch 8 , 1990 ~~ . March 8 , 1990 ADDRESS: 11 Enteprise Drive Canton, Illinois 61520 Pf-bNE: (309) 647-5702 ADDRESS: 210 East Chestnut Street Canton, Illinois 61520 Pf-bNE: (309) 647-0065/0020 ATTEST : _ ` ~~' City lerk (OORPORATE SEAL)