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R2013-119 AUTHORIZING AMENDMENT TO CONTRACT OF SALE WITH HARRISON MANAGEMENT GROUP, LLC
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R2013-119 AUTHORIZING AMENDMENT TO CONTRACT OF SALE WITH HARRISON MANAGEMENT GROUP, LLC
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8/14/2015 1:27:05 PM
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8/14/2015 1:27:05 PM
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Resolution/Ordinance
Res Ord Num
R2013-119
Res Ord Title
AUTHORIZING AMENDMENT TO CONTRACT OF SALE WITH HARRISON MANAGEMENT GROUP, LLC FOR PROPERTY LOCATED AT MOUND CENTER
Department
Development Services
Approved Date
12/2/2013
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subject to an Operation and Easement Agreement between Seller and Target Corporation, <br /> recorded in Book 3445 at Page 207 as Document No. 1647689 in the Macon County, <br /> is Recorder's Office as amended b an Amendment to Operation and Easement <br /> Illinois y p <br /> Agreement, recorded in Book 3740 at Page 540 as Document No. 1714438 in such <br /> Recorder's Office(as amended, the"OEA")and an Agreement of Easements, Covenants <br /> and Restrictions dated September 16, 2006 between Seller and GMRI, Inc., recorded in <br /> such Recorder's Office (the "Olive Garden Agreement"). The OEA and Olive Garden <br /> Agreement restrict the development and use of the Property, including without limitation,a <br /> limit of 10%of the floor area of the non-Target buildings in Mound Center$hopping Center <br /> collectively being used for"Retail Office"such as by banks, stock brokerage and insurance <br /> companies. <br /> (b) Buyer obtaining boring, percolation and other soil tests of the Property <br /> showing the Property is not contaminated and the soil and the physical characteristics of <br /> the Property are satisfactory for Buyer's proposed development. <br /> (c) That the survey of the Property described in Paragraph 5 below does <br /> not disclose any condition, easement or restriction affecting the Property which would <br /> prevent Buyer's proposed development of the Property. <br /> (d) That the Properly is zoned to allow Buyer's proposed development and <br /> use of the.Property. <br /> (e) That Seller and Buyer enter into an agreement in whilch Seller agrees <br /> f to annually pay to Buyer ai3 amount equal to 80% of the sales taxa paid by Buyer <br /> I attributable to retail sales tom Buyer's business operating on the, Property, such <br /> agreement to have a term that expires 5 years after Buyer opens such business on the <br /> Property) andSuch c�GJYr;2me,eC hub'ect-� l,�v's Ci 6)w"C�� a_9P VV1()� <br /> � ... ._ 3 <br /> �,re.�,m e . . . <br />
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