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R2001-147 AUTHORIZING TERMINATION OF AGREEMENT
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R2001-147 AUTHORIZING TERMINATION OF AGREEMENT
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Last modified
1/21/2016 3:35:28 PM
Creation date
1/21/2016 3:35:22 PM
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Resolution/Ordinance
Res Ord Num
R2001-147
Res Ord Title
AUTHORIZING TERMINATION OF AGREEMENT WITH DYNEGY ENERGY SERVICES, INC. - OAKWOOD STREET LIGHTING PROGRAM
Approved Date
8/6/2001
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� ` ASSIGNMENT AND TERMINATION AGREEMENT <br /> This ASSIGNMENT AND TERMINATION AGREEMENT ("Agreement") is <br /> entered into thisLO�of August, 2001 and effective as of August 1, 2001 ("Effective <br /> Date"), by and between Dynegy Energy Services, Inc. ("Assignor"), as successor to <br /> Illinova Energy Partners, and the City of Decatur, Illinois ("Assignee") (individually each <br /> a"Party" and collectively the "Parties"), and is as follows: <br /> WHEREAS, Assignor and Assignee are parties to that certain Agreement dated <br /> September 21, 1998, attached hereto as "Exhibit A" and by this reference made a part <br /> hereof("Maintenance Agreement"), which Assignor and Assignee have agreed to <br /> terminate; <br /> WHEREAS, Assignor is a party to certain Lighting Agreements, copies of which are set <br /> forth in Exhibit B and Assignor and Assignee have agreed to the complete assignment of <br /> all its rights, duties and interests in the Lighting Agreements to the Assignee; <br /> WHEREAS, Assignor is authorized under the Lighting Agreement to make such <br /> assignments to Assignee; <br /> WHEREAS, Assignor is the owner of certain light poles and luminaries (the <br /> "Equipment") under each of the Lighting Agreements and the Maintenance Agreement, <br /> except under the Lighting Agreement between Assignor and Millikin University, dated <br /> June 21, 1999; <br /> NOW THEREFORE, for good and valuable consideration, the receipt of which is hereby <br /> acknowledged, the parties agree as follows: <br /> ARTICLE I <br /> ASSIGNMENT <br /> 1.1 As of the Effective Date, the Assignor hereby assigns and transfers to the <br /> Assignee all its right, title, duties, liabilities, and interests to and under the <br /> Lighting Agreements and the Maintenance Agreement as well as the ownership <br /> interests in any Equipment associated therewith, including the right to collect any <br /> payments owed as of the Effective Date and that may accrue in the future. <br /> 1.2 The Assignee, on and after the Effective Date, shall observe and perform any <br /> covenants and obligations of the Assignor contained in the Lighting Agreements <br /> and shall assume ownership of the Equipment and liability for all the obligations <br /> and liabilities of the Assignor arising and accruing under the Lighting Agreements <br /> from and after the Effective Date. <br />
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