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R2019-25 Resolution Authorizing Real Estate Contract For Property Located in the 2000 Block of South Imboden Court
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R2019-25 Resolution Authorizing Real Estate Contract For Property Located in the 2000 Block of South Imboden Court
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Last modified
1/13/2020 11:12:41 AM
Creation date
2/6/2019 9:29:42 AM
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Resolution/Ordinance
Res Ord Num
R2019-25
Res Ord Title
R2019-25 Resolution Authorizing Real Estate Contract For Property Located in the 2000 Block of South Imboden Court
Department
Econ and Com Dev
Approved Date
2/4/2019
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of this Contract pursuant to a City Property Remediation Agreement dated��Zr�1 in which <br /> the the Companies' predecessors agreed to pay for remediation on the Property. <br /> 4.2. As a result and in addition to the Seller, Borg Warner and Flow Contol are <br /> entitled to enforce the following obligations; <br /> (a) Buyer shall comply with all of the requirements of the No Further <br /> Remediation letter ("NFR") issued by the Illinois Environmental Protection Agency on <br /> September 3, 2013 and recorded with the Macon County Recorder's Office on September 10, <br /> 2013, a copy of which is attached hereto and incorporated herein as Exhibit �-. Such <br /> requirements include, but are not limited to maintenance of engineered barriers and institutional <br /> controls described in the NFR; <br /> (b) Buyer shall not allow the release of any Contaminant at to or from <br /> the Property in violation of, or that creates any liability under any Environmental Law; <br /> (c) Buyer shall indemify and hold harmless Borg Warner and Flow <br /> Control as well as the Seller far any and all remediation, investigation, damages (including <br /> diminution in Property Value), losses, expenses (including attorneys' and consultants' fees and <br /> costs) costs, death or injuries that arise from any failure by Transferee to comply with the <br /> applicable requirements of the NFR letter issued with respect to the Property. <br /> 4.3 For the purposes of this Paragraph,the following definitions apply: <br /> (a) "Contaminant" shall mean any substance, material, product, <br /> compound, liquid, solid or gas (i) that is now or is in the future defined as or included within the <br /> definition of a "pollutant," "contaminant," "toxic substance," "hazardous waste," "hazardous <br /> substance," "extremely hazardous substance," "hazardous chemical" or "hazardous material," or <br /> any other words of similar import under any Environmental Law, or(ii) exposure to which or the <br /> presence, use, generation, treatment, release, transport or storage of which is now or hereafter <br /> 302944379 v2 8 <br />
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