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HomeMy WebLinkAboutResolution #0881 RESOLUTION N0. ~'S' I A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE CITY OF CANTON AND CANTON STATE BANK LAND TRUST 360 AND AUTHORI7ING AND DIRECTING THE MAYOR AND CITY CLERK TO EXECUTE SAID AGREEMENT ON BEHALF OF THE CITY OF CANTON. WHEREAS, the City of Canton, Illinois has entered into negotiations with Canton State Bank Land Trust 360 with regard to each parties' obligation to repair certain defects and deficiencies and to beautify the South wall of Canton State Bank Land Trust 360's building; and WHEREAS, the City Council of the City of Canton, Illinois has reviewed the terms of the proposed 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 desirable and in the best interests of the City of Canton to approve said agreement. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CANTON, ILLINOIS, AS FOLLOWS: 1. That the Agreement between the City of Canton and Canton State Bank Land Trust 360, 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 of the City of Canton, Illinois are hereby authorized and directed to execute said agreement and all other documents neces- sary to carry out the terms of said agreement on behalf of the City of Canton. 3. That this Resolution shall be in full force and effect upon its passage by the City Council of the City of Canton, Illinois and approval by the P~ayor thereof. PASSED by the City Council of the City of Canton, Illinois and APPROVED by the Mayor thereof this ~ / ,~- day of (~~h,,e~, 1981. APPROVED: / ~~~ MAYOR HARLAN E. CROUCH .,F i ATTEST: ~~ y¢~„CITY CLERK NANCY WHITES i i+ ~T ~ ~~ r ~ AGREEMENT THIS AGREEMENT made this-~3r ~ day of April, 1981, by and between the CITY OF CANTON, a municipal corporation in the County of Fulton and State of Illinois, hereinafter referred to as "the City", and CANTON STATE BANK, an Illinois banking corporation, as Trustee under the provisions of a Deed in Trust duly recorded and delivered to said Trustee in pursuance of a trust agreement dated August 31,1979 and known as Land Trust Number 360, of 2 North Main Street, Canton, Illinois, hereinafter referred to as "Land Trust 360". WTTNESSETH: WHEREAS, the City owns the following described property, which property is hereinafter referred to as "the property"; The West 95 feet of Lot 38 and the South 32.5 feet of the West 95 feet of Lot 37 in Nathan Jones' Second Addition to the City of Canton, Fulton County, Illinois; and WHEREAS, on January 28, 1981, the City demolished the building on the property pursuant to a contract with Clarence Poke Kinsel, hereinafter referred to as "Kinsel"; and WHEREAS, Land Trust 360 owns the property immediately North of the property owned by the City; and WHEREAS, the building on the property owned by Land Trust 360 and the building on the property owned by the City had a common wall and beams; and WHEREAS, there was no common wall agreement between the City and Land Trust 360; and WHEREAS, through no fault of either the City or Kinsel, the removal of the building on the property caused certain defects and deficiencies in the South wall of Land Trust 360's building; and WHEREAS, the City and Land Trust 360 have entered into negotiations with regard to each parties' obligation to repair said defects and defi- ciencies and to beautify the South wall of Land Trust 360's building; and WHEREAS, the City and Land Trust 360 have agreed to resolve this matter as hereinafter provided. NOW, THEREFORE, in consideration of the mutual covenants, agreements and payments hereinafter contained, and other valuable consideration, it is mutually agreed by and between the City and Land Trust 360 as follows: 1. The City and Land Trust 360 find as facts the recitals herein- above set forth. 2. The City agrees to pay to Land Trust 360 and Land Trust 360 agrees to accept from the City the sum of Six Thousand Two Hundred Fifty Nine Dollars (.$6,259.00) for any damage to the building on the property owned by Land Trust 360 resulting or to result from the demolition of the building on the property. For said sum, Land Trust 360 shall release and forever discharge the City and all other persons, firms and corporations who were agents of the City for said demolition from all claims and demands, rights and causes of action of any kind that Land Trust 360 now has or may hereafter have on account of or in any way growing out of said demolition and Land Trust 360 agrees to indemnify and save harmless the City from and against all claims and demands whatsoever that Land Trust 360 may have against the City or its agents on account of or in any way growing out of said demolition both to persons and property, except that Land Trust 360 shall not release the City or any other persons, firms or corporations who were agents of the City for said demolition for any damage to the roof on the property owned by Land Trust 360 resulting or to result from the demolition of the building on the property, for which a claim is now pending against Kinsel. The above consideration shall constitute a full and complete settlement of a liability claimed by Land Trust 360 and denied by the City, regardless of the adequacy of the above consideration, and the approval of this agreement by the City and Land Trust 360 shall not operate as an admission of liability on the part of anyone. 3. Land Trust 360 agrees to use at least Three Thousand Two Hundred Fifty Dollars (_$3,250.00) of the above consideration to repair the defects and deficiencies in the South wall of its building. Further, Land Trust 360 -2- ~. ' agrees to use at least Three Thousand Nine Dollars ($3,009.00) of the above consideration to beautify the South wall of its building by removing the plaster, sandblasting, sealing and finishing the wall. Land Trust 360 may retain, hire or employ such contractors as it deems necessary for the completion of this work. Nothing contained herein shall be deemed to create a contractual relationship between said contractors and the City. It is the intention of the parties hereto that the sum paid by the City to Land Trust 360 pursuant to this Agreement shall be used by Land Trust 360 for the work contemplated herein. Land Trust 360 agrees to diligently pursue the com- pletion of this work and, in any event, said work shall be completed on or before September 1, 1981. 4. As a part of this transaction, Land Trust 360 agrees to release an easement from the City to Jennie Whiting and Mary Whiting, their successors and assigns, over, along, across and through a portion of the property. This easement is dated January 7, 1930 and was recorded May 22, 1930 in';'Volume 420 at Page 148 as Document Number 252714 of the Land Records of Fulton County, Illinois. 5. The Mayor and City Clerk of the City shall execute this Agreement and all other documents necessary to carry out the terms of this Agreement on behalf of the City and the Trust Officer of Land Trust 360 shall execute this Agreement and all other documents necessary to carry out the terms of this Agreement on behalf of Land Trust 360. 6. This Agreement shall be binding upon the parties hereto and their successors and assigns. IN WITNESS WHEREOF, the City has caused this Agreement to be executed by its Mayor and attested by its Clerk and the official seal of the City to be hereunto affixed, and Land Trust 360 has caused this Agreement to be executed by its Trust Officer, all as of the day first above written. - 3- ~'~ ~.,~~,~~li_' ,~ i~ . (SEAL) ATTEST: ~ ~ ~(, ~,~~ ,2 Z~ ANCY S. ITES CITY LERK CITY OF/C"A~NTO~N HARLAN E. CROUCH MAYOR CANTON STATE BANK, as Trustee under the provisions of a Deed in Trust du recorded and delivered to said stee in pursuance of t-rest a ement dated August 31, 1 and k Lam ust 36 0 /~J _ _- Its Trust Officer -4-