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R2003-138 AUTHORIZING EXECUTION OF TERMINATION AGREEMENT
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R2003-138 AUTHORIZING EXECUTION OF TERMINATION AGREEMENT
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Last modified
1/12/2016 4:40:28 PM
Creation date
1/12/2016 4:40:26 PM
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Resolution/Ordinance
Res Ord Num
R2003-138
Res Ord Title
AUTHORIZING EXECUTION OF TERMINATION AGREEMENT - INCUBATOR CARVEOUT AREA
Approved Date
9/15/2003
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� McGuireWoods <br /> Ross&Hardies <br /> 150 North Michigan Avenue <br /> Suite 2500 i <br /> Chicago,IL 6060�-7567 150 North Michigan Avenue <br /> Phone:312.558.1000 <br /> Fax:312.750.8600 Chicago, Illinois 60601-7567 <br /> www.mcguirewoods.com 312.558.1000 Fax 312.750.8600 <br /> MCGUIREWOODS <br /> CHARLES W.WESSELHOFT <br /> R O S S&H A R D I E S Attorney at Law <br /> 312.750.2753 Fax 312.920.7235 <br /> cwessel hoft@m cgu irewoods.com <br /> September 9, 2003 <br /> John Couter, Esq. <br /> Corporation Counsel <br /> City of Decatur <br /> 1 Gary K. Anderson Plaza <br /> Decatur IL 62523-1196 <br /> Re: Carveout Property <br /> Termination Agreement <br /> Dear John: <br /> Enclosed please find a copy of the Termination Agreement negotiated among the parties <br /> to the clean up of the so-called Carveout Area located adjacent to the City's Incubator project. <br /> Under the terms of the Termination Agreement, the City is released from future liability related <br /> to the remediation of known contamination on the property. In exchange, the City gives up any <br /> claim to the other parties for past costs associated with investigating the extent of the <br /> contamination on the Carveout Area. This Agreement does not limit the City's ability to recover <br /> past cost associated with the investigation of the Incubator property. <br /> We believe that the Termination Agreement provides the City a relatively painless route <br /> out of involvement with the Carveout Area remediation. We recommend that it be ratified by the <br /> City. <br /> If you have any questions or concerns regarding the above, please do not hesitate to <br /> contact either Jim Harrington(312-750-8619) or me. <br /> � ^ <br /> Sinc�r Y, ` � . <br /> �� � <br /> harles W. es <br /> cc: James T. Harrington <br /> \1903 2\00010\C H407486.DOG 1 <br />
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