HomeMy WebLinkAboutResolution #4017 RESOLUTION NO. 4017
A RESOLUTION APPROVING A DONATION AGREEMENT BETWEEN WELLS FARGO
BANK NA AND THE CITY OF CANTON IN REGARD TO 723 SOUTH MAIN STREET,
CANTON, ILLINOIS.
WHEREAS, Wells Fargo Bank NA, has acquired the property commonly known as 723 South
Main Street through the foreclosure process; and
WHEREAS, the Wells Fargo Bank NA has made a determination that it is not in their interests
to sell the property outright, but instead, is willing to donate it to the City of Canton; and
WHEREAS, after investigation, the City of Canton has determined that there is potential and
use for this property consistent with the City's goals; and
WHEREAS, the City Council of the City of Canton has made a determination that it is
necessary and in the best interest of the City of Canton to enter into a donation agreement with Wells
Fargo Bank NA and accept 723 South Main Street, Canton, Illinois, as is with no costs to the City of
Canton.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE
CITY OF CANTON, ILLINOIS, AS FOLLOWS:
1. That the agreement which is attached hereto and incorporated herein as Exhibit A, is hereby
approved by the Canton City Council.
2. That the Mayor of the City of Canton, Illinois, is hereby authorized and directed to execute said
agreement on behalf of the City of Canton.
3. That the attorney of the City of Canton is hereby authorized and directed to execute all
necessary documents to complete the property transfer.
4. 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.
PASSED by the City Council of the City of Canton, Illinois, at a regular meeting this 19th day of
February, 2013, upon a roll call vote as follows:
AYES: Aldermen Pickel, Hartford, Schenck Pasley, Ellis
NAYS: None
ABSENT: Aldermen West, Fritz, Nelson
APPROV~D~,=~ 7 ~
, r ~
' K
ve in R. Meade, Mayor
TEST
D a Pav ey, Ci Clerk
_E ~ ~ .~;-P,
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DONATI~N AGR~EIV~EN'~
This is a Donation A~reemez~t (~~e "?on~ltioz~ Agreement'~ for ce~tain real property located at
~ Pro e , da,ted and e£~ective ~s of this ~th day of
723 S 1v~AY'N S~`, CANTON, IL G1~..0 P rtY")
FEBRIJAP~Y, 2013, bet~~een ~'~ells k'argu Bauk, N~A•, a national bai~ing Aas
n~ ~ois
("L~anor"} and CzT"Y OF CAN'TON, ~1 i~IUNICpAL CORpORr~1TTON,
CorporKtian ("Donee").
RECITALS
T'liis Donatioi~ Agzeement is ma~le aizd entered into on thc basis of the folJ.ovving fac~s and
un,ilerst~ndxngs of tk~e parti~s hereka:
A, Donor a~cquired the ].'roperry(ies) identil~ed on E~hibit A thraugh tl~e fareclosure process.
~3. L7onor did not originally construct an~ af the itnptoven~eiats £om?iYig gart of any PmpertY.
Donor has not occupied any pro~eriY for its o~~2~ use.
C, Due to Donor's lack of fatniliarity ~vitli the Properties, Donoi• is ttnwiliing to m~ke any
representations or warrailties whatsoever regarding the Pxoperties ~d Donor is only willing
ZO ~TaTlt DOX102 fll0 PIOj~G1"1i05 013 a.Tl ~~AS 1S~ ~i'I1~TC ~9" F~lld rr'~Y1~~1 llll ~c~~l~tS~~ ~JflSIS,
D. Donee has bcen ~iven a fiill ai~d coznpleie apportun~.ty to conduct its own it~.vestxgation as to
any znatter, ~~ct oc issue tha~ mipht intluence Donee's dccision to accept the Pxoperty f~'orn
Donor. Accord'uigly, 17o~1ee is willing to accep~ tk~e Propetiy from Doslor w~thout any
represEntatio.ns or wanznties w~iatsoever regardin~ t1~e Pro~ert.y and on an'F~is ig~ '~`liere is"
and "~~~ith a1l faults" basis.
ACR~EIYXENT ~
1. ~O1VAT~ XON•
1,1 Clnsin Costs. Donor shall pay all costs assflciated witli t~~e transfer of the
Property, including but not l"uiuted t~ attonley's fees, agents fees and reoarding
costs ("Closxn~ Costs").
1,? Tran~fcr. l~oz~ox agrees ta donate the ~operty to Donee and Donee ~gxees to
accep~ the Property from r}onor on tl~.e terms and conditions set fortll herein. ~n
cansideration o~ Donor's t~a.~isfer o~ the PropertY to Donee, Donee sl~atl p~rform all
of l~onee's obli~ations he.reL1nder including but not limi.ted to the release and
indem~ity s~t forth ul Secdon 2.2 o~'this Donati.on Agreeulent.
1.3 Title. Title sl~all be tra~lsfezred on the Closing Date via a quit claim deed or its
equiva~ent.
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1,~ Further Assuranees. Doz~ee and Do~aor agree to eYecute alI ~nstruments and
dacu~ilents aud to take all aetions reasonably necessar~+ ancl appxoPriate to
consumi~l:z t~le trans~er and cioz~atioi~, of ~lie Pro~erty and shall use their t}est effoi~ts
to close in ~ timely mannar•
2. ACKNOV~rI.~DGMENTS REY,EASE ANYI Il~'DEMNITI'.
~.1 DONE~'S ~.CT~NOWL~DG~MENTS, l)()NEE AC~TOWLED~ES THAT
DON~E XS A,CCEPT~I~1G THE pR4kEKTY SOLEliX IN 22EL~A.NCE ON
AONEE'S OWN XN~~` ST~Gt#TYQN, ~~ITI TYI~ PRbI'ER.TY TS TN "AS IS,
WI~ER~ IS" CONDITION ~'VI`I'H AL~L ~~ULTS AND DEFECTS, LA"~ENT
Qit OTT~ERWIS~. DON~E EXPRE~SLY ACKNO'WL~AGES THAT, TN
CONS~DERATIUN dF THE AGRE~~VIENT QF AOI~TOIx ~~REZN~ AN~ ,
E~CEPT AS OTH~
~SENTAT QI~1~ OR '~VARRANTTQS, ~ SS ~R .
~~Ag IVLA,~E NO RE
ID~IP~IED, QR. A~ISING :~Y OPERATXON OF LAW, INCLU.DING, BU'T
N()T T~ZIVII'~ED TO, ANY ~~~NT A ~T~ ~~,ARNUSE~ OR
ivT~RCHANTABTL~TY OR ~'Y~`~~SS FOR
PURPUSE, W~TH,R~Sp~ CT ~T~XOUT LTNII ATYON') TO ANI'~O
T
IiE
~LATED T1~ER~, ,
~'4LY,Q~VXNG MATTEYtS:
Soil"~Etc. Soils, seism~c, hycirolo~ical, gcological and topograpl~ical
oonditions and configurations.
(b) Artifacts. A.rcheological, prchzstoric ar?d historic artifacts, .remains and. re~ics.
(c
j Endan ~ered S ecies. ~ndat~gered plant, at~irnal and inseet species.
{d) ~~'irdous Malerials. Hazardous Materia]s and o~t~er enviro~u?~ental
condi~ions, i~~cluc4in~ without limitation, lead-based paitit, asbestos and tnold.
{e) Phvsical Defects. Physical and meehanica~ defects in. or on any Prope~ty,
i~~.cludiz~g without Izn1itation., the plwnbin~, beating, aix conditioiung and
elect~caJ. systems and the ruof, floor, ceilings, walls and other intezzial
stz~lctural cnmponents af any t~uildings ar improvem~nts.
Land and Floor Are . The area of the land and th~ squaxe foatage contained
in any 6uildings or improvements.
(g) Utilities, Schools ~tc. ~lvailabzlity of ~td~quate utilitics, water, gchools,
public access, and fire ~nd ~Olice prc~tection.
(kl) Assessment I~istzicts. The status anti nature of any assessment districts and
the acnount of an.y assessment liaUility.
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(i) Planrun and Zoziin . Preset~t, past oz• future Gonfor~nily of
any Pz'operl:Y with :
platuain~, buitding, zoz~ing; subdi«sioix and clev~lopment statutes, ardinances,
regulations and pennits, tlie genccal plan ~nd tkie specific plan.
(j) DevetoAlnent ~'ees. The character ~nd amount of any fee, charge or other
consideration which snust be pa.id l~y Donee to develo~ any I'xoperty,
{~C) Title. T~~e conditio~. of t~tle to ~xly ~roperty, inclun~
~h ~il
~°or no~t ~ matter ~
e~cistence of any easeinc:s~t, license or enct'oaclune
of pub~ic record, and whether oz not visible upon iuspectiio~a of suck~ Propezty •
'X'aYes. The status of a~lY general o.r special real ~ro~erty ta~:es or assessments
or personal propei~y taxes ot any oi:her ta~Ces aiid assessments a~plicable to
the Praperty,
(m} Owner`s Assoeiation. The fii~ancial Conditio~~ o~ any owner's associat~on,
inc~udiz~g, without limitation, the aciequacy of an~+ ~eser~'es held by any
owner's ass~ciation.
(n) Other Ma.tters. Any other rnatter rel~ting to any Propert5` or to the
develop~nent or apex'atioz~ of any Pro~erly, incl,udin.g, but t~ot limited to,
value, feasibzlity, cost, Co~v~izunez~t~1 permissioz~s or entitlcments;
ma~:ketability at~cl in~~es~nent rcturn. .
2.2 REL~ASk~ Al'~D XND~MNITY,
(a) Ii~`~ LEAS~. D~NEE F'ULLY R~LE~9ES AND D T~ ~ LAIMSO ND
FR.4M At~TA RELINQUTSIi~S ALL R~GH ,
ACTIOI~S VS~I~TCH AR.~SE UUT IQF OR RARE~'IN A.N1' WAY
DON~R
CONNECTED ~'VITH 'I'f~ CQND~TTON OF THE PR~P~RTY,
IN'CLUDING WTTI~OUT LYMITAT~ON (A) M~xTER SET
~+`O~tT~I Il~i SECTION 2.X ,ABO~~, (B) TI~E YRESEN~E O~'
~IAZAIt~OUS 1WG'L~[1D~NG~ B T~ Nd
~ LTM T~D ~TQ ANX
~RO~ERT~ ~
U~IDISCOVEXtED H~ZA~DU~~ ~~~'E~~S LOCATED BENEATH
T~~ SURFACE OF TH~ P~tO~'ERTI~ .AND (C) V~OLAT~ONS OF
A.~TY HAZA~2.DOU5 MATERYALS ~AWS PERTAINiNG 1'v TkIE
FRn~~RTY ~~t '~~IE ACTIVYTIES T~IEREON. TI3IS REY,EASE ~
APPI.rIES T4 ALL UESCRxS~D ~G~~, C~~~~ A~ANS,
~V~IE'1'HER I~10W1~T OR UNIC1~Td~Yhi, ~~ItES~EN UR
tIN'FQRES~EN, ~RES~N1' QTt FI7'~U~tE.
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Cb) NIEA1VTr1G. FOR PYJRP4S~S OT' THYS SECTION 2.2, A~X!
~2E~TR~:NCE5 '~O "DONOR" S~AT~L rNCLUDE: (A) DONOR'S
PAR~NT, 5'LTBS~DIA~tY AnA AY`F~IAT~ CORPORATIQNS,
(B) DONOR.'S D~.RECTORS, QFk'YC~RS, SHAREHQLDERS,
EJYIPLOYE~S AND AG~NTS, A1~YD T~E ~E~RS, SYJCCF,SSQRS,
~ERSONA~, REPR~SENTAT~VES ANA ASS~GNS OF DONOR'S
~IREC'1'~RS, OFY+'~CERS, S~IARE~TO~DER5, EM~~OYEES AND ;
A~~NTS.
(c) EFFECTIVENESS. T~ PROVI5TQNS O~' TH~SATET~•ND 5~~~
~iE ~FFECTI~TE AS OI+` 1`f~ CY,.OSIi~G D
S'(3RVIV~ T'HE CI~.~QSING DATE OR `I'~R~X~ATION OF THIS
DONA`FIDN AGRrEMEi~T.
3. CL.OS NG D,
ATE, I~' THE CL~SIN ~ T~pN~E SI3ALI., HAVE NO U~.tTT~ER
'~'O THE DEI'.~4iJT.~T OF AONEE, ( )
RXGHT 'i'O ItCC~TVE THE PROP~RTY~ NDI(BS~~~
~T.SHALL 'BE F~CE Tp
DXSPOSE OF THk~ PRnP~~TX IN ANX
4, GENERAL PR~V~SIONS
. 4.1 Successox•s anc~ Assi p9. This Donati~n SP~~ e~mof the Partbes ~1Nol~~ithstand'tng
inure to the bene~'it a~ tt~E successor~ and gn
die ~aregoing, Daz~ee may not trausfez, asszgn or encumber pottee's rigJ~ts under
tEiis Donatioii A~ream~nt witihout Donor'S prioz wri~.ten apgroval.
4,2, Entire A~'reeu~ct?t. This Donation Agreement contains the entirc a~reement
between t~le p2rties cancetmin.~ the Donation and sale o£ tk~e PxQpe~~Y~ ~d
supersedes all prior writt~z~ or oral agreements betwcen the p~t~ties to tlus Donation
Agreement. I~o addition to or modification oi any term or pzovxsion shall be
effective un~ess in wt'iting, signed by both Donor ~nd Donee-
4,~ Time o~ ~ssen~ce. Donor ~a ~ect tolea h~term and~condi
ion of ilus~Don.ation
strictl~ of the essence vv~th resP
Agreement and that Rhe £a.ilulea breacb. ~t
dedefAUlt
und r ttii Danat on .A~
1n
eint
by either pa.rty shall coz~st~Cute
by the pariy failing to so per€orm.
4,4 1'aztial Lnv9lidi .~f any portion o£ this Donation Agreesnent shall be decl~red by
any court of competent jurisdictioi~ to be invalid, illegal or unenforceable, that
portion shall be deemed severed from ~his Dotlation Agreement anc3 the zamainin~
parts 511~11 renSain in full fo ~een ~ Rrt
of
th~ D at~ Agre
m,
nd, i11e~aI or
unenforce~ble portion had never p
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4.5 Gavcrnin ?La~v, Tl1e pnrties intez~d a~ld c~?'ew~tYx tl~~~laws di tl
e` sta
er vh ch
le
be governed by and eonsttued zn accocdai
Pzope~~ty is located,
No T~i~'d Parties ~enefits, No person other thah~'fl£ aGtion ~
der this A at an .
permittect successors ~nd assi~ns, sk?all have any g
A~zreerr~ent.
4 7 y'~~a~
ivcrs, N'o tvaiver by eitlier patty af any pro~ision sha~l be deenled a waiver of
any othex provision or of any subsequent breach by eith.er p2rty o£ ~e ~~e or `u~y
oth~r provision.
4 g C~ aPtiPns, The captions and Section ~lYimbers 4f tlus Do~tion Agreement are for
conveuzEnce a~id zn no way dcfine or limit tl~e scope or i~tent af t~le Sections of this
Donation A~reement.
t~s Donation Agreement xnay be executed
~}.9 Counter arts, To facilit~te e~ecution,
in as inany counterparts as may be conveniezlt dr or tihat the signatLU'etof allepersons
that the signature of, or on behalf o~, each partY,
a ear on eacla counter~art. All co~?ferP~ts sh.all
required to binc~ any part~, pp
collectivel~~ constitute a sin~le ~ So~ countgforll rn
teethan Sa~ingl~ ollunterpart
ot this inStrtlcneilt Co produc
containing the respective sigz?ari~r~e ~~y ~e~ detached frorn such counterptar~
~1ny si~;natu~:e pa~e to any coun rp
«~itllout im.pair~ng t~le legal effect ofi t.he s'~ e~~' ~~~°att~l ~v1e1oaftea~~~
Qna~l
to anathex counterp~rt identical thereta P
signature p~g~s•
~},10 No Presuzn ~tion. Atl the Pat'ties Iie
n~Oh ~ddrafting of th~e~inal foxnh of this
opportunity to review and Part~cl~ttte ~
Donation Agreement an.d al~ documei~ts attached as ee
ub~
~ nc~ox~~h~~~le of
documents sl~atl be construed withou.t regard ~o ~y 1?T p eenxent would be
eor~structio~~ wliereby an.y amb~~uities with~n t11is Donation A~z
cozist~-ued or intei-preted a~F~inst the party causin~ the doaument to be drafted.
4.~1 Notiees, Any z~otic$s or otl~er comm.unication~~q~e~~. pe ~Q~al~y~del~iwereed,
or
Do~tation Agz'eementi shall be in wr~l~ng~ a~d S re aid, retum receipt
(b) sent by certified or registered'Unite~l St~tes mail, postage p~
b over~ight delive~y by a IepuYab7e couricr to the ac~dress of the
requested, or {e) y
paity set fort h izi t his S e c t i o n ° ce~o r~coz~
~~~~n ~I~ ~l~~e ~~ipen (i) i f
fortb. in this Section. Such not~ '
sent by personal deliveiy or by o~vertugh~ssli~t ~~s1n
ssion by tele~: pie~ has been
senl ~y telECOpter, rvhen evidence af suec liQ~s
recei~~ed by sender or, (iii) in theg~ 9S ~a
1 Noli e of. hange of
addr`ess sk~all be
fallotivin$ deposit in the Unlted St
{~iven by ~vritte~ ILatice in the manner detailed in this Section.
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If to the Donee: CITY (~F CAl'~TnN, A MUNICPAL COY~PORATTpN
2 Nortll maitt Street
Canton, Illinois 6152D
Attention: CitY Administrafor
Y~'to the Dailor;
Wclis Faxgo Bank, N.A.
1 Home Carnpus
Des Maines, I4wa 5Q328-0001
Att~ntion: Lauta I{ro~h , MAC~ ~'301-0~}9
With a cony to:
Weils Far~o Ban4:, N.A.
1 Home Campus
X7es Moi?tes, Iowa 50328-0001
Attention: General Counsel, MAC X9903-03I~
~,1? Joi~t and. Severa~, If moie fihan ons ( teall s
u1i pler ons or i
tities he eu
der sha~l
.4greeme~C as Donee, the obligation
be joint ai~d sevcral.
[Signatures ox~ tha veYt page}
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DON~E:
CYTY aF CA~i7: Q?~, A MU~TIC~'AL CO1tPORA.TION .
r~
Signature;
I~ ~~~d~k
1'rint Name: ~ e v ~ ~
Tit~e: N'l w . -
DnNOR;
W~LLS FARGO BAN1~, N'.A. ~
Signaturc: ~
1'ritri' Name~ ~ ~
Tit1e: ~ T
l
~5~~ ~
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E7~HTB~T "A"
PRQPERTY A DR~SS
723 S MAYN ST
CAfVTON, IL 61520
LEG L I]ES RIPTI N
SEC7lLO7: R03 WRIGHT S ADDITfON LT 403
Exbibit A
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OFAC C~R'~IF'IGATE
Pursuant ta the $anlt Scerec~' Act nnd requirements specifitd by the Departm4nt of the 1rea.sury's Office of Forei~n Assete Control ('°OFAC"}, V4'ells
~argo Bank, N.A. ~vill not enbuge inianateJ~Ter•ro~IstswSP~i.lly ~Dts grlatcd NnrcothcstTrs?ffiCl:e Seo?' tl at Vti'elis FargocBanknl~T.A,ns~ ~peetsito bc
,~nd ~ilocked Persons, Spe~~e~~Y A° g tlie fullowin inform3tion must be provided. Tf Buyer failv to provide
inv0lYCd in :a susp~c~ous lraasnctior~ ar onc 1R viol~tlon of fcderT( law-. Thcre£orc, B
this InformAtion, ~YeUs F~rgo S:~nk, IV.A. wi11 noc coasider your oPfer, Thls i~~Cormation will onl~ be useJ far the sole purposC of screening ageinst
OFAC :tnd WorldCheck lists.
Please provide the f.ollowi,lg informat~an:
Buyer 1
Middle Nflme: Last Nat~~e:
Firsl N~me; C' of Canton
Cit ; Canton State: Y~ Zi : 615."~.4
Address: 2 Nort~ Maiia Slrect ,
pQ~: Phone 3Q9-647-0065
Co, unfry: X1SA
13z~ycr 2
Middle Name: Y..ast Name:
First Name:
Cit Sts~te: Zi
flddress:
DOB: ~'hone
Country:
Buyer 3
IVliddle Nam~: Last Name:
First Name:
City: S~te: ~i :
Address:
. ~pg: Phane
Countr : -
~iu1'er's A ent Tnformation
Last Nan~e: Cam an :
E~irst NaiT~e:
5tate: Zi :
Address: Cit
~L~one k'ax # :
~t~.ai l:
Buyer's Compan.y/Corporution/Fartttership
' If btryer is a C~mpanylGorporation/Pannars~1?p~o~hoi`n°t~piN~~~ ~.~ompaay/~Corput'et[onUand A.~dre all Companyf corporatiou
name a~.d Arti~les of Incorporal'~on ar~d signi g rY
CITY OF CA1~iTbN, A MUNTCPAI:~ CORP~~'Y'JO~
~ ,G(st Al! Prlncif~ul,er'scnames Q+~cJudrng ~~on boa~dCmcm6e s) l~<uwelllasDall~~~vi~ a s~ufth prlnFcipa~ox' a shP orfnAnc~l F?rere.rtr~~tlh~
on
pr ~1
please Ilst al~ s~S ~
orgmzlzatdon. '
City o~ Cantoc~, an Illinoi~ Nlunicipal ~or~osation
Corpof~atron Ta.x IDc 37-6-000-876
If
Wclls Fargo'Bank, N.A. Finds in it s~lc and absulut~ discretion that ~nY purchaser meets the critcria as ddsciibed abova, thG nffcr, purchase agrament or
otltcr documents exccut~d in conncct~on with the purchasc of thr• propetry shsl! be of no effee:t, and sh~ll be immediatel~ cancxlicd, t~Io parry shall be liable to
thc othcl• p,2i•ry in any ~R~ay, ior uny cl~iu,s whn~soever. Any carnest money shall bc retumed.
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