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HomeMy WebLinkAboutResolution #4036 RESOLUTION NO 4036 RECOVERY AGREEMENT WITH OLIVE EBRAN A D DELIVER A RESOLUTION APPROVING A �,OF CANTON,ILLINOIS. 100F AND THE CITY OF CANTON AND DIRECTING THE MAYOR TO SAID AGREEMENT ON BEHALF OF THE CI WHEREAS, the Legal & Ordinance Committee of the City of Canton has determined that it is necessary and in the best interests of the City of Canton to enter into a recovery agreement with Olive Branch Lodge, 15 100F as set forth in Exhibit"A" attached hereto and incorporated herein; and ' Council of the City of Canton has made a similar determination. WHEREAS,the City �' NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF CANTON,ILLINOIS,AS FOLLOWS: approved by the 1. That the agreement attached hereto and incorporated herein as Exhibit"A" is hereby app Canton City Council. e Ma or of the City of Canton,Illinois is hereby authorized and directed to execute said Agreement 2. That the Y 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,Illinois and approval by the Mayor thereof. ED b the City Council of the City of Canton,Illinois at a regular meeting this 15th day of October,2013 PASS y upon a roll call vote as follows: AYES: Aldermen Pasley,Lovell, Ellis,Justin Nelson,Picket,Jim Nelson,Putrich,West NAYS: None ABSENT: None APPROVED: Jetf A. ayor ATTE Diana '.vley-Rock, ity Cler r RECOVERY AGREEMENT THIS AGREEMENT,made and entered into this /5 day of C , 2013, by and between the City of Canton, a municipal corporation in the County of Fulton, State of Illinois, hereinafter referred to as the "CITY" and the Independent Order of Odd Fellows, Olive Branch Lodge No. 15,an Illinois fraternal non-profit organization,hereinafter referred to as "OLIVE BRANCH". WHEREAS, CITY is the owner of a commercial lot located at the corner of Main Street and Chestnut Street, and OLIVE BRANCH is the owner of a commercial building located at 108 North Main Street,Canton, Illinois,adjacent to and north of CITY's lot,and; WHEREAS, OLIVE BRANCH and CITY are desirous of repairing the south wall of the building located at 108 North Main Street, Canton, Illinois, and in so doing using TIF money from the CITY to make the repairs, the total for the repairs costing $90,000, the CITY agreeing one half of the total of wall repair to be forgiven and the other half being $45,000 without interest to be repaid upon the sale of the building if the sale occurs on or before twenty (20) years from the date of this agreement, and; WHEREAS, CITY is desirous of putting a mural on the south wall of the Olive Branch building and the parties are desirous of putting all of the foregoing recitals into the terms and conditions of this Agreement. NOW THEREFORE, in consideration of the mutual promises, covenants and conditions contained herein the parties agree as follows: 1. CITY and OLIVE BRANCH will enter into a Redevelopment Agreement for TIF finding,which in sum and substance will allow the CITY to use TIF money to repair the south wall of the building located at 108 North Main Street, Canton, Illinois and wherein the CITY will forgive one half ($45,000) of the total TIF money given ($90,000) and will receive the other one half ($45,000 without interest to be repaid upon the sale of the building if the sale occurs on or before twenty(20)years from the date of this agreement) of the TIF money when the building is sold, provided the terms and conditions of the Redevelopment Agreement are complied with. 2. In consideration of the repair and OLIVE BRANCH'S agreement to the maintenance of the south wall of OLIVE BRANCH'S building, CITY will convey to OLIVE BRANCH a portion of its lot immediately adjacent to the south being more particularly described on the attached Exhibit A and Exhibit B. 3. That in exchange for the CITY's repair of the wall and conveyance of land to repair the south wall of OLIVE BRANCH'S building, OLIVE BRANCH agrees to grant a permanent easement to CITY, its successors, assigns, selected artists, agents and employees, for the non-exclusive right for ingress and egress and installation and maintenance of a public art piece, over and across the south wall of OLIVE BRANCH'S property, legally described on the attached Exhibit B. The mural shall not exceed total area of 160 square feet. 8.22.13 Recovery Agreement City of Canton/Olive Branch Lodge Page 1 I The artist to create the mural shall be chosen and paid for by CITY and continued ingress and egress onto the property shall be granted to CITY for maintenance of the mural. This easement shall be deemed to run with the land and shall bind the OLIVE BRANCH and CITY and their respective heirs, successors and assigns. 4. CITY, for itself, successors, and assigns, agrees to indemnify and hold harmless OLIVE BRANCH in relationship to any cause, action,or other claims arising from or accruing as a result of CITY'S use and enjoyment of the above easement. 5. OLIVE BRANCH agrees to maintain the wall, including but not limited to tuck pointing, foundation repair, borders, and all other aspects of the wall maintenance with the exception of the maintenance of the mural for which the CITY is granted an easement. The mural maintenance shall be the responsibility of the CITY. 6. The CITY agrees to grant access to OLIVE BRANCH across part of Lot 106 in the Original Town of Canton,Fulton County,Illinois in order to maintain and repair the wall,foundation,borders and all other aspects of the wall. 7. The CITY agrees to transfer and assign any and all warranties provided by contractors for the construction of the wall. WITNESS the hand and seals of the parties hereto this day as first written above. CITY OF CANTON, By: (7 ‘f/ Mayor 400 4,, y Clerk THE OLIV BRXH L O D G E 15 100E By: U Ronald We By: �,trustee B oii► ' John Douglass,Trustee