R2019-126 Resolution Authorizing Agreement City of Decatur, Illinois Mueller Co. LLC

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NOW,THEREFORE,in consideration of the foregaing and the mutual covenants and agreements set farth herein,the Parties agree as follows: WITNESSETH: SECTIUN 4NE. Mueller agrees to purchase Parcel #i and Pareel #2 as set forth in E�ibit A ta be used far the development and constructiQn of a rr�anufacturing facility for Mueller. SECTION TWO. City agrees to pay to Mueller the sarn of Thirty-Twa Thousand Dr�llars ($32,000} per acre for a maximum of three (3) acres as representing par�ial reimbarsement of Mueller's acquisition costs of the Parcels to assist Mue[ler with expansion and enlargement of Mueller aperations and empioyment in Decatur, Illinois and is conditioned upon said expansion and enIargement of Mueller operations and employment in Decatur, Itlinois. SECTiON THR�E. The reimbursement amount shall be paid from funds in the City's eeonomic development fund and shall be transferred to Mueller within ten (i0) days following Muelier's acquisition of Parcel#2 as set forth in Exhibit A from Norfolk-Southern Railroad. SECTIO�I FOUR. City will assume no liability, obligation or responsibility for clean- up or remediation of Parcel #2 as set forth in Exhibit A and raakes no candition, warranty or representation as to its condition and Mueiler, by entering into this Agreement, expressly acknowledges such and agrees to indemnify the City from any such claims and demands and ho(d the City harmless for any such claims and dernands from any source. SECTION FIVE. The Parties agree that any publie announcement of Muelter's expaasion and development ptar►s foc zts Decatur facilities, including those incorporating the Parcels that are the subject of this Agreement, may be conditioned upon the City Council approving this Agreement and thaE the Parties will caaardit�ate and agree ta the date and time of City Council action and Mueller's announcement. SECTION SIX. That this Agreement shall be effectiv� itnmediately upon signature of thc Parties and upon its passage by the Decatur City Council. CITY OF DECATUR,ILLINUIS MUELLER CO.LLC o � f By. By: %. � Septe ber 6,2019 Dat . � � Date: