R98-20 AUTHORIZING AGREEMENT - Laserfiche WebLink

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' -4 - C. Brady hereby consents to the State of Illinois Department of Revenue providing the City with such information regarding the payment of ROT by the Auto Mall as will enable the City to verify same. Brady will execute such documentation as is required by the Department of Revenue and by the City's Director of Finance to effect the provisions ' hereof. Failure of Brady to comply with this subsection shall relieve the City of any liability for payments equal to ROT revenue as set out in subsection (a) hereof until Brady so complies. D. Actual ROT payments not withstanding,the City's liability under this Section 3 shall not exceed $550,000 in total. Section Four: Failure to Maintain Decatur Location A. If Brady relocates either the Dodge dealership or the Auto Ma11, or any portion of either or both, to any location not within the corporate limits of the City of Decatur(except that the relocation may be to the Premises) during the term of this agreement, Brady shall pay liquidated damages to the City equal to the amount of ROT revenues that would have been received by the Ciry pursuant to the terms of this Agreement if Brady had operated the relocated portions of either dealership on the Premises, or within the corporate limits of the City of Decatur. If Brady so relocates,he shall provide the Ciry with all information required by Subsections 3(B) and (C)with respect to the dealership, or portion thereof, which has relocated. B. If Brady sells, assigns or otherwise conveys any of his right, tide or interest in either the Dodge dealership, the Auto Mall, or any portion of either or both, prior to the expiration of the twenty (20) year period required by Section 1 for operation of said dealerships, such sale, assignment or conveyance shall require the purchaser or assignee to abide by the remainder of said twenty (20)year restriction,including the payment of liquidated damages as set out in subparagraph (a). Failure to so provide in any such sale, assignment or conveyance shall obligate Brady to pay such liquidated damages as required by subparagraph (a)if the purchaser or assignee relocates such dealership, or portion thereof,