R98-20 AUTHORIZING AGREEMENT - Laserfiche WebLink

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' -3 - underlying the surface of said land and all rights and easements in favor of the Estate of said coal and other minerals). and The East One and One-Ha1f Acres of the West U2 of Lots One (1) and Two (2) of Camp and Emrich's Addition of Outlots to the Village of Forsyth, Illinois, as per Plat recorded in Book 335 page 524 of the Records in the Recorder's Office of Macon County, Illinois. The City will accept such assignment, without payment of additional consideration therefor to Brady, subject to Brady furnishing the City copies of all deeds, leases, franchise agreements, or any documents or other instruments which provide that Brady will, or enable Brady to, locate and operate the Auto Ma11 on the Premises, or within the corporate limits of the City. Section Three: Retailer's Occupation Tax Distribution A. After the start of operation of the Auto Mall on the Premises, or within the corporate limits of the City, the City will pay to Brady or his heirs, successors or assigns in the ownership and operation of the Auto Mall, a sum equal to the revenues received by the Ciry from the Retailer's Occupation Tax (35 ILCS 120/1 et. seq.; "ROT") imposed on sales of vehicles and parts at the Auto Mall. Such payments shall be made quarterly, and the receipt of ROT revenue by the City is a condition precedent to such payments. B. Brady shall provide the City with copies of all ROT returns filed with the State of Illinois by the Auto Mall, after the same is operating on the Premises, or elsewhere within the corporate limits of the City, said copies of returns to be so provided at the time of filing or within two (2) weeks thereafter. Brady shall further provide the City with copies of the canceled checks showing payments of said ROT to the State of Illinois, said copies to be provided within thirty (30) days of the submittal of same to the State. Failure to provide copies of returns and canceled checks as required herein shall relieve the City of any liability for payments equal to ROT revenues as set out in subsection (a) hereof until said copies and checks are provided.