My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
R2010-200 RECEIVING AND FILING PROPOSED REDEVELOPMENT AGREEMENT
COD
>
City Clerk
>
RESOLUTIONS
>
2010
>
R2010-200 RECEIVING AND FILING PROPOSED REDEVELOPMENT AGREEMENT
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/2/2015 10:40:12 AM
Creation date
10/2/2015 10:40:10 AM
Metadata
Fields
Template:
Resolution/Ordinance
Res Ord Num
R2010-200
Res Ord Title
RECEIVING AND FILING PROPOSED REDEVELOPMENT AGREEMENT
Approved Date
10/21/2010
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
37
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
hereto as Exhibit F. <br /> 7. Municipality's execution of a written lease agreement, attached hereto as <br /> Exhibit G with Developer (for weekdays between the hours of 9:00 a.m. <br /> and 4:00 p.m.) for all parking spots in the Parking Lot and for at least <br /> twenty (20) spaces in Municipality's parking garage "B" located at the <br /> intersection of North Water Street and North Street to Developer for <br /> twenty (20) years with a renewal option in favor of Developer for an <br /> additional twenty(20) years. <br /> 8. Municipality and Developer entering into and recording of record an <br /> agreement whereby Municipality covenants that no construction shall be <br /> permitted on the approximate East Half of Lots 1 through 13 inclusive of <br /> the Resurvey of Snyder's Addition and Lots 1, 2 and 3 in Block 2 of <br /> Central Addition to Decatur as per Plat recorded in Book 149, Page 303 of <br /> the Records in the Recorder's Office of Macon County, Illinois. <br /> 9. Municipality and Developer shall have entered into an amendment to that <br /> certain Redevelopment Agreement dated November 7, 2006 allowing for <br /> Municipality to prepay its obligations under said agreement on terms <br /> satisfactory to Developer. <br /> 10. Developer shall have sold the property commonly known as 350 N. Water <br /> Street, Decatur, Illinois to Archer-Daniels-Midland Company. <br /> G. TITLE EVIDENCE AND TITLE INSURANCE. <br /> l. Within ten (10) days after the execution of this Agreement, Municipality <br /> shall deliver to Developer a Commitment to Issue Title Insurance (the <br /> "Commitment"). The Commitment shall undertake to insure fee simple <br /> and marketable title in Developer, in a nominal amount on delivery and <br /> recordation of the deed specified in this Agreement. Not later than ninety <br /> (90) days prior to Closing, Municipality shall deliver to Developer an <br /> update to the Commitment which update shall undertake to issue fee <br /> simple and marketable title in Developer in an amount equal to <br /> Developer's projected costs in constructing the facilities constituting the <br /> Development Project. Developer shall pay all costs and expenses incurred <br /> in securing the Commitment and the update to the Commitment. <br /> Developer shall select the title insurance company issuing the <br /> Commitment and shall ensure that the title insurance company selected <br /> will allow the Municipality to comply with the terms of this paragraph. <br /> 2. In the event the Commitment or the update shall reflect Title Defects or <br /> other conditions not acceptable to Developer ("Title Defects"), then, <br /> upon written notification of such defects or conditions to Municipality, the <br /> Municipality may immediately and diligently proceed to cure same at <br /> - 6 - <br />
The URL can be used to link to this page
Your browser does not support the video tag.