HomeMy WebLinkAboutOrd 5013 04/06/1999 ORDINANCE NO. 5013
AN ORDINANCE AUTHORIZING THE EXECUTION OF A REAL ESTATE
PURCHASE CONTRACT TO ACQUIRE A PORTION OF DISTRICT NO. 1
REDEVELOPMENT PROJECT AREA IN THE VILLAGE OF
MOUNT PROSPECT, ILLINOIS
1 VVEST CENTRAL ROAD
10 SOUTH MAIN STREET
Passed and approved by
the President and Board of Trustees
the 6th day of April, 1999
Published in pamphlet form by
authority of the corporate
authorities of the Village of
Mount Prospect, Illinois, the
7th day of April, 1999
VVVL
4/1/99
ORDINANCE NO. 5013
AN ORDINANCE AUTHORIZING THE EXECUTION
OF A REAL ESTATE PURCHASE CONTRACT TO ACQUIRE
A PORTION OF DISTRICT NO. 1 REDEVELOPMENT PROJECT AREA
IN THE VILLAGE OF MOUNT PROSPECT, ILLINOIS
1 West Central Road
10 South Main Street
WHEREAS, the Village of Mount Prospect is a municipality which exercises
authority pursuant to Chapter 65, Act 5, Section 11-74.4-4.1 et seq. of the Illinois
Municipal Code as set forth in the Illinois compiled Statutes, known as the "Tax
Increment Allocation Redevelopment Act"; and
WHEREAS, the President and Board of Trustees of the Village of Mount
Prospect did adopt Ordinance No. 4950 entitled "An Ordinance Providing For
The Purchase or Condemnation Of Land For Redevelopment Purposes In The
Village Of Mount Prospect, Cook County, Illinois: 1 West Central Road and 10
South Main Street"; and
WHEREAS, a Real Estate Purchase contract (the "Contract") has heretofore
been submitted to the Village of Mount Prospect with regard to a portion of the
District No. 1 Redevelopment Project Area; and
WHEREAS, the President and Board of Trustees of the Village of Mount
Prospect have reviewed the Contract in substantially the same form and
materially similar to Exhibit "A" which is attached hereto and made a part hereof,
and finds that the Contract is in furtherance of the goals, objectives and purposes
of the Distdct No. I Redevelopment Project Area; and
WHEREAS, pursuant to the provisions of Chapter 65, Act 5, Section 11-74.4-4.1
(c) of the Illinois Municipal Code as set forth in the Illinois Compiled Statutes, the
Village of Mount Prospect is authorized to acquire property, real or personal,
within the District No. 1 Redevelopment Project Area by purchase, donation,
lease or eminent domain for the purposes of implementing said redevelopment
project.
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY,
ILLINOIS:
age 2 of 3
1 W. Central/10 S. Main
SECTION ONE: That it is hereby determined that it is necessary, proper and
desirable that the Village of Mount Prospect acquire title to, and possession of,
the real property being the subject of the Real Estate Purchase Contract, which
is to be in substantially the same form and materially similar to Exhibit "A" which
is attached hereto and made a part hereof.
SECTION TWO: That having determined that the said Contract is in the best
interests of the Village of Mount Prospect and find that the Contract is in
furtherance of the goals, objectives and purposes of the District No. 1
Redevelopment Project Area, the Village President and Village Clerk are hereby
authorized to execute the Real Estate Purchase Contract.
~: That the Village President, Board of Trustees, Village Clerk,
Village Manager, Village Attorney, Special Attorneys, officers and employees are
hereby empowered to perform any act necessary to implement, carry out and
give effect to the terms and provisions of said Contract.
SECTION FOUR: That this Ordinance shall be in full force and effect upon its
passage, approval and publication in pamphlet form in the manner provided by
law.
AYES: Corcoran, Hoefert, Lohrstorfer, Nocchi, Wilks
NAYS: Cl owes
ABSENT: None
PASSED and APPROVED this 6th day of April ,1999.
~ F~fley
Village President
ATTEST:
Velma W. Lowe
Village Clerk
Page 3 of 3
1 W. Central/10 S. Main
LEGAL DESCRIPTION: 1 WEST CENTRAL ROAD
(HEUCKER'S SERVICE STATION)
10 SOUTH MAIN STREET
(LEGACY AUTO BODY SHOP)
Lot 1 in Huecker's Resubdivision of Lots 1 and 2 (except the West 64 feet
thereof) in Mount Prospect, being a resubdivision in the West Half of Section
12, Township 41 North, Range 11, East of the Third Principal Meridian, in the
Village of Mount Prospect, according to the plat thereof registered in the Office of
the Registrar of Titles of Cook County, Illinois on September 9, 1969, as
Document Number 20953597.
PERMANENT TAX INDEX NO. 08-12-102-038
also
Lot 1 in Raymond R. Chmelik's Subdivision, a resubdivision of the NoAh 50 feet of
public alley (now vacated) together with Lots A, B, C, and D in Laudermilk's Subdivision
in Mount Prospect, being a resubdivision in the West Hatf of Section 12, Township 41
North, Range 11, East of the Third Principal Meridian, in the Village of Mount Prospect,
according to the plat thereof registered in the Office of the Registrar of Titles of Cook
County, Illinois on February 25, 1969, as Document Number 2437155.
PERMANENT TAX INDEX NO. 08-12-102-042
also
The East 44 feet of the West 64 feet of Lots 1 and 2 of Block 7 in the Mount Prospect
Subdivision in Mount Prospect, being a resubdivision in the West Half of Section.12,
Township 41 North, Range 11, East of the Third Principal Meridian, in the Village of
Mount Prospect, according to the plat thereof registered in the Office of the Registrar of
Titles of Cook County, Illinois on September 2, 1874, in Book 8, Page 90 of Ptats, as
Document Number 188460.
PERMANENT TAX INDEX NO. 08-12-102-040
? ~ Huecker/4599/CONTRACTS
REAL ESTATE PURCHASE CON.£~ACT
BE'I~EEN
COLE TAYLOR BANK AS TRUSTEE UNDER TRUST
AGI~RRMENT DATED JANUARY 17, 1991 AND
KNOWN AS TRUST NO. 91-4104
(#Seller")
VIT,T,AGE OF MOUNT PROSPECT
("Purchaser")
P~qLESTATE PURCHASE CONTKACT
COLE TAYLOR BANK AS TRUSTEE UNDER TRUST AGREEMENT DATED
JANUARY 17, 1991 AND KNOWN AS TRUST NO. 91-4104 ("Seller")
agrees to sell to the VILLAGE OF MOUNT PROSPECT, a municipal
corporation, (*'Purchaser"), and Purchaser agrees to buy from
Seller, in accordance with the terms, conditions and
stipulations set forth in this Real Estate Purchase Contract
("Contract*'), the real property and the improvements located
thereon situated in the Village of Mount Prospect, County of
Cook, State of Illinois, having the common addresses of 1
West Central Road and 10 South Main Street, Mount Prospect,
Illinois and the legal description of which is set forth on
Exhibit A attached hereto and made a part hereof by
reference.
1. Ownership of the Property: Fee simple ownership
of the Property is presently held in the name of Seller and
fee simple title shall be conveyed to Purchaser by Trustee's
Deed for the Property as provided for in this Contract.
2. Purchase Price: The total purchase price
("Purchase Price") to be paid to Seller by Purchaser for the
Property and payment for all interests, claims and demands
related to the Property shall be NINE Uu~D~R~ FIFTY THOUSAND
DOTWJLRS ($950,000.00).
3. Payment of Purchase Price: Seller shall deliver
to Purchaser four (4) original counterparts of this Contract
executed by Seller. Within fourteen (14) days after the
date upon which Seller has delivered said counterparts,
Purchaser shall deliver two (2) original counterparts of
this Contract fully executed by Purchaser and Seller (the
"Effective Date").
The Purchase Price shall be payable in Village of Mount
Prospect funds as follows:
$847,000.00 at Closing;
$ 34,333.33 on or before July 1, 2000;
$ 34,333.33 on or before July 1, 2001; and
$ 34,333.34 on or before July 1, 2002.
The closing of this transaction ("Closing") shall occur
within ninety (90) days of the Effective Date or such other
date as the parties may agree ("Closing Date").
4. Possession: Possession of the Property shall be
delivered to Purchaser on the Closing Date.
5. Co. Rveyance and Closing: Seller shall convey to
Purchaser or its nominee fee simple title to the Property by
Trustee's Deed or such other instrument in a form
satisfactory to Purchaser, consistent with the terms of this
Contract. Such title shall be free and clear of all
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encumbrances whatsoever, except those hereinafter permitted
and identified in Section 6 hereof ("Permitted Exceptions")
and such title shall vest in Purchaser upon delivery of the
Trustee's Deed or such other instrument at Closing, and
thereafter immediately be recorded. All escrow closing and
recording costs and fees shall be paid by Purchaser. All
State, County and Village transfer stamps, if any, shall be
paid by Purchaser. This transaction may be closed with a
"New York Style" Closing.
6. Permitted Exceptions and Condition of Title: The
term "Permitted Exceptions" as used herein shall include the
following: (1) real estate taxes for the year 1998 and 1999
not yet due and owing and (2) easements for public utilities
and right of way.Any mortgage or trust deed encumbering the
Property shall not be oonsidered a permitted exception
hereunder.
Purchaser has and will pay for a title commitment for
an owner's title insurance policy issued by Chicago Title
Insurance Company in the amount of the purchase price,
evidencing title to the Property on or after the date of
execution hereof, showing title to be vested in Seller and
subject only to Seller's mortgage, if any and the Permitted
Exceptions.
If such evidence of title discloses defects other than
the Permitted Exceptions and Seller's mortgage, Seller shall
have until Closing to cure such defects, except Seller's,
mortgage, and notify Purchaser. If Seller is unable to cure
such defects, Purchaser may, at its election, terminate this
Contract or may accept title to the Property as it then
exists (with the right to deduct from the purchase price
liens or encumbrances of a definite or ascertainable amount)
by notifying Seller and tendering performance. If Purchaser
terminates this Contract as provided in this paragraph, then
the parties will have no further liability to each other.
Seller shall also furnish Purchaser, at Closing, with
an affidavit of title showing title to be vested in Seller
subject only to the Permitted Exceptions.
7. Taxes: Seller agrees to pay all general real
estate taxes, special assessments and special taxes due or
to become due for the Property up to the date of Closing.
General real estate taxes for 1998 and 1999 shall be
prorated as of said date on the basis of 110% of the most
recent ascertainable taxes.
8. Survey: Purchaser, at its own expense, may
secure a current plat of survey of the Property showing the
location of all improvements and easements within the
respective lot lines of the Property, made and so certified
by the surveyor as having been made in compliance with the
Illinois Land Survey Standards.
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9. Obliqations of Seller: Seller covenants and
agrees with Purchaser that from the Effective Date until
Closing or earlier termination of this Contract, Seller
shall:
A. Advise Purchaser promptly of any
litigation, arbitration, or administrative hearing before
any governmental agency concerning or affecting the Property
which is instituted or threatened after the Effective Date.
B. Not take any action or permit any action
to be taken which would change the physical characteristics
of the Property without Purchaser's prior written consent.
C. Seller shall have good, marketable and
indefeasible fee simple title to the Property.
D. Seller shall provide for the operation,
management and all maintenance, repairs and replacement
pertaining to the Property which are necessary for the
efficient maintenance and upkeep of the Property to the date
of Closing.
E. From and after the Effective Date,
Seller shall not enter into any new leases or extensions of
existing leases, place any mortgage on all or part of the
Property or further encumber or restrict the title to the
Property without Purchaser's prior written consent. The
provisions of this Section 9 shall survive Closing.
F. Seller shall provide written notice to
tenants or parties in possession of the Property or any
portion thereof to vacate the Property so as to secure and
tender to Purchaser possession of the Property at Closing.
Seller shall provide Purchaser with evidence of notices
provided pursuant to this paragraph.
G. Seller agrees that it shall undertake
all necessary actions to secure and tender possession of the
Property to Purchaser at Closing.
10. Default: If either Seller or Purchaser shall
default under the terms and provisions of this Contract and
such default is not cured within seven (7) days of written
notice of such default, the non-defaulting party shall be
entitled to pursue all actions or remedies in law or equity
including, but not limited to, an action for specific
performance. In the event of a default, the parties agree
that the defaulting party shall be liable for all costs,
expenses and attorney's fees of any nature
whatsoever, incurred or suffered by or claimed against
the non-defaulting party.
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11. Brokers: Purchaser and Seller acknowledge that no
person or entity has acted as broker in respect of the
transaction herein contemplated. Seller agrees that should
any broker make a claim for a commission based upon the
actions of Seller, Seller shall indemnify, defend and hold
Purchaser harmless from any such claim. Purchaser
represents that it has not dealt with any broker and agrees
that, should any broker make a claim for a commission based
upon the actions of Purchaser, then Purchaser shall
indemnify, defend and hold Seller harmless from any such
claim. Notwithstanding anything contained herein to the
contrary, the provisions of this Section shall survive
Closing.
12. Notices: All notices and other communications
hereunder shall be in writing and shall be delivered
personally against receipt or shall be sent by registered
mail, certified mail, or Express Mail service, postage
prepaid and return receipt requested, by telephone facsimile
transmission, or by nationally utilized overnight delivery
service, addressed to the parties as follows:
As to Purchaser: Village of Mount Prospect
Attn: Village Manager
100 S. Emerson Street
Mount Prospect, IL 60056
With a Copy to: William E. Ryan, Esq.
Burke and Ryan
33 N. Dearborn
Suite 402
Chicago, IL 60602
As to Seller:
With a Copy to: Robert F. Moore, P.C.
566 N. Wolf Road
Wheeling, Illinois 60090
Any notice in accordance herewith shall be deemed received
when delivery is received or refused, as the case may be.
Additionally, notices may be given by telephone facsimile
transmission, provided that an original copy of said
transmission shall be delivered to the addressee by
4
nationally utilized overnight delivery services on the day
following such transmission. Telephone facsimiles shall be
deemed delivered on the date of such transmission.
13. Survival: The representations, agreement to pay
the Purchase Price, covenants and warranties set forth
herein shall be continuing, shall survive Closing, and shall
remain in full force and effect thereafter.
14. Parties Bound: This Contract shall be binding
upon and inure to the benefit of Seller and Purchaser, their
respective heirs, personal representatives, successors and
assigns.
15. Governinq Law: The laws of the State of Illinois
shall govern the validity, construction, enforcement and
interpretation of this Contract.
16. Multiple Counterparts: This Contract may be
executed in a number of identical counterparts. If so
executed, each of such counterparts shall, collectively,
constitute one agreement, but in making proof of this
Contract, it shall not be necessary to produce or account
for more than one such counterpart. If requested by
Purchaser, Seller agrees to execute a memorandum of this
Contract in form recordable in the real property records of
Cook County, Illinois.
17. Time of the Essence: The parties hereto expressly
agree that time is of the essence with respect to this
Contract and the Closing.
18. Entire Aqreement: This Contract embodies the
entire agreement of the parties in respect of the
transaction herein contemplated, superseding all prior
agreements whether oral or written. Any amendments hereto
shall be in writing and executed by the parties hereto.
19. Non-Business Days: If the date of Closing or the
date for delivery of a notice or performance of some other
obligation of Seller or Purchaser falls on a Saturday,
Sunday or legal holiday in the State of Illinois, then the
date for Closing or such notice or performance shall be
postponed until the ~next business day.
20. Transaction Under Threat of Condemnation:
Purchaser and Seller acknowledge that this transaction and
the Purchase Price have been negotiated under threat of
condemnation and subsequent to Purchaser's notice of its
intent to acquire the Property by eminent domain or
otherwise. The parties acknowledge that absent this
Contract the Purchaser was authorized and would have
immediately filed an eminent domain proceeding to acquire
the Property.
5
21. Personal ProDertv: Seller shall remove all
personal property and vehicles from the Property prior to
Closing. This provision shall survive the Closing of the
transaction.
22. Nonliability of Villaqe officials and Employees:
No member, official or employee of the Village of Mount
Prospect shall be personally liable to Seller in the event
of any default or breach by the Village of Mount Prospect or
for any amount which may become due to Seller under the
terms of this Contract.
23. Environmental: With regard to the environmental
condition of the Property, Seller and Purchaser agree as
follows:
A. Within thirty (30) days of the Effective
Date, Purchaser may obtain environmental site assessments of
the Property, the scope, methods and results of which are
satisfactory to Purchaser, in Purchaser's sole discretion,
for the Property. Seller shall make the Property available
to Purchaser or its agents and employees for the
environmental assessments and shall cooperate with regard to
the environmental assessments including without limitation,
the installation and operation of any ground water wells and
any soil borings. Such environmental assessments may, in
Purchaser's sole discretion, include without limitation soil
and ground water sampling and laboratory analysis.
B. In the event the environmental
assessment identifies the existence of an environmental
condition as defined herein on the Property that is
unacceptable to the Purchaser, in Purchaser's sole
discretion, then within seven (7) days of Purchaser's
receipt of the environmental assessment, Purchaser shall
notify Seller in writing of the environmental condition and
Purchaser shall have the right to terminate this Contract.
In the event Purchaser elects to terminate this Contract,
the parties shall have no further obligations under this
Contract or to each other.
C. Purchaser shall indemnify and hold
Seller, their respective heirs, personal representatives,
successors and assigns, harmless from any and all claims,
demands, judgments, costs, expenses (including reasonable
attorneys fees and expenses), losses, damages (personal or
property), or liability for personal injury or property
damage caused by the negligent acts or omissions of
Purchaser during performance of the environmental
assessments; provided, however, that this indemnity does not
apply to business interruption, lost profits, damage to
business reputation, or inaccurate or defective
Environmental Reports, defined herein. This is a "claims
made" indemnity that expires and is of no further force or
6
effect at Closing. The environmental assessment of the
Property shall be conducted in a manner so as to minimize
disruption of Seller's tenants.
D. The parties acknowledge that the
environmental assessments and companion reports (the
"Environmental Reports") are strictly confidential.
Purchaser and Seller agree not to disclose any information
contained in the Environmental Reports to any third party
without the written consent of the other party, except under
the following circumstances: (i) disclosure to accountants,
counsel and other consultants or advisors of Purchaser and
Seller in connection with under this Contract, or (ii)
disclosure to any regulatory or supervisory authority having
jurisdiction over the Property if such disclosure is
required by any law, rule, regulation or judicial process,
provided that the parties have delivered prior written
notice of a party's intention to disclose. The
confidentiality provisions of this Section 23 shall survive
the Closing for a period of two (2) years.
E. "Environmental Condition" shall mean (1) a
release or threat of release of hazardous substances,
pollutants or contaminants, (ii) a violation of
environmental law or regulation, or (iii) circumstances or
conditions that pose a threat to human health or the
environment or a threat of property damage.
F. In the event the Purchaser terminates the
Contract as a result of an environmental condition,
Purchaser shall supply Seller with copies of all of the
environmental tests in Purchaser's possession.
G. The Property purchased by the Purchaser
shall not include, and Seller shall maintain ownership and
operatorship of, the underground storage tanks ("USTs")
located on the Property, until such time as the USTs have
been removed and closed in accordance with 41 Ill. Admin.
Code Part 170, and any corrective action has been performed
and a "No Further Remediation" letter ("NFR") has been
issued by the Illinois Environmental Protection Agency
("IEPA") in accordance with 35 Ill. Admin. Code Part 732
("UST Rules"). Upon closure of the USTs and issuance of the
NFR, Seller shall have no remaining interest in the
Property, including without limitation, Seller shall not
have ownership and operatorship of the USTs. Seller and
Purchaser agree that the amount of the Purchase Price
assumes that the eligible costs of removing and closing the
USTs and undertaking corrective action (collectively, "UST
Costs") will be paid by the IEPA in accordance with the UST
Rules. Since the Purchaser initially will pay the UST
Costs, Purchaser shall be entitled to any payment of the UST
Costs by IEPA or other governmental agency. Seller agrees
to cooperate with Purchaser in Purchaser's actions and
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ndertakings to remove and close the USTs and to perform
corrective action for the USTs, including without
limitations, (i) Seller agrees to execute such documents,
forms, certifications, applications, statements and
communications (collectively, "Documents") necessary to
obtain closure of the USTs and an NFR from IEPA, (ii) Seller
agrees to execute Documents in order for Purchaser to obtain
payment of UST Costs, whether such costs are incurred by
Purchaser, Seller or a third party, and (iii) Seller agrees
to immediately pay over or endorse over to Purchaser any
funds, checks or other sums received by Seller as payment of
UST Costs. At Closing, Seller agrees to execute a power of
attorney in substantially the same form as attached as
Exhibit B allowing Purchaser to endorse on behalf of Seller
to Purchaser any checks for payment of UST Costs.
IN WITNESS WHEREOF, the parties hereto have, by their
duly authorized representatives, executed this Contract as
of this 20th day of April , 1999.
PURCHAS ER:
VILLAGE OF MOUNT PROSPECT, a municipal
Dated: .~/~ ~/~ ~ts: President ·
Its: Village Clerk ~ '
SELLER:
Dated: 4/20/99 COLE TAYLOR BANK AS TRUSTEE UNDER
TRUST AGREEMENT DATED JANUARY 17,
1991 AND KNOWN AS TRUST NO. 91-4104
AND NOT PERSONALLY
By:
Its: vi~e ~r~ident
Attest:
Its:
REAL ESTATE CONTRACT EXONERATION - SELLER
T~is CONTRACT Is executed by COLE TAYLOR BANK, not personally but aa Trustee under True: No, 9.1-4104
es aforesaid, in the exercise of power and authority upon and vested in said Trustee as such, and it is expressly
understood and agreement that ncth/ng tn said Contract contained shall be construed as creating any liability on '
said Trustee personelly to pay any indebtedness accruing thereunder o~ to perform any covenants, either expressed
or implied, in said Contact (all such liability, if any, being expressly waived by said p~xchaeer and by every person
now or hereafter claiming any right or security thereunderl and that $o far as said Trustee ia concerned, the owner
of any indebtedness or right accruing under said Contract shall look solely to the i~'emisea described therein for
the payment or enforcement thereof, it being understood that said Trustee merely holds legal title to the premises
described therein and has nc control over the management thereof or the income therefrom, and has nc Imowledge
respecting rentals, leases or other factual matter with respect to said premises, except as represented to it by the
beneficiary or beneficiaries of said trust.
EXHIBIT A
LOT 1 (EXCEPT THE WEST 20 FEET THEREOF) , IN RAYI~OND R. CH/~ELIK'S SUBDIVISION,
BEING A RESUBDIVISION OF THE NORTH 50 FEET OF T~{E RIGHT OF WAY OF THE PUBLIC
3%LLEY (NOW VACATED), TOGETHER WITH LOTS ~%, B, C 3%ND D IN LAUDEP~MILK'S SUBDIVISION
OF LOTS 3, 4, 5, 6 3%AID 7 IN BLOCK 7 IN MOLTNT PROSPECT, BEING A SUBDIVISION IN
SECTION 12, TOWNSHIp 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIP3%L ~RIDI3%N,
ACCORDING TO PLAT OF SAID P.A~OND R. CH~ELIK' S SUBDIVISION REGISTERED IN THE
OFFICE OF THE REGISTRAR OF TITLE OF COOK CO~, ILLINOIS, ON FEBRUARY 25, 1969
AS DOCLrMENT 2437155, IN COOK COUNTY, ILLINOIS.
and
PARCEL 1:
LOT 1 (EXCEPT THE WEST 64 FEET THEREOF), LOT 2 (EXCEPT THE WEST 64 FEET THEREOF)
IN BLOCK 7 IN MOUNT PROSPECT, BEING A SUBDIVISION IN SECTION 12, TOWNSHIP 41
NORTH, RANGE 11 EAST OF THE THIRE PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS.
P3%RCEL 2:
THE EAST 44 FEET OF THE WEST 64 FEET OF LOT 1, THE EAST 44 FEET OF THE WEST 64
FEET OF LOT 2, IN BLOCK 7 IN MOUNT PROSPECT, BEING A SUBDIVISION OF SECTION 12,
TOWNSHIP 41 NORTH, R3~NGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY,
ILLINOIS.
POWER OF ATTORNEY
I ..... ("Seller'), an individual
residing at ..
_ hereby entrust and appoint ("Village Manager"), aa
individual residing at .
who is the duly appointed m~nager of the Village of MoUnt ProSPeet~ Illinois ("Purchaser'), to
endor~, pay over and delivez to the Pureh~er, on Seller's behalf, all checks, payments, and
other sums paid to Seller by the lllh:ois Environmental Protection Agency ("IEPA") or othor
govertunentel agency for UST Costs in accordance with that certain Purchase and Sale
Agreement, dated of even date herewith, by and between Seller and Purchaser (~'Agreemem").
For such purpose, I hereby fucthe~ authorize the Village Manager 1o negotiate,
compromise and adjust any claims or submittals made by Seller for payment of UST Costs m
Purchaser shall deem necessary and reasonable,
This Power of Attorney shall become effective on the date of execution and shall
tem~inate upon payment by IEPA and delivery of such pa)anents to Pureha$er of all of the UST
Costs. I have read and fully tmder~tand the terms of this Power o£Attomey.
IN WITNESS WI-IEREOF, the undersigned has executed this Power of Attorney on this
~ day of .., 1999..
State of Illinois )
) ss
County. of )
Verification
l ...... a notary public in and for the Cotmty of
, State o£ Illinois, hereby state that on the .__ day of , 1999,
. , personally known to me, did execute this power of attorney as
aforesaid.
My
ex_ires~ _