HomeMy WebLinkAboutChamco, Inc 4/8/1988 A G R E E M E N T
WHEREAS, the City of Oshkosh owns certain lands within the
corporate limits of the City of Oshkosh and desires to sell such
lands for industrial development ; and
WHEREAS, CHAMCO, INC. is a non-profit Wisconsin corporation
interested in the industrial development of the City of Oshkosh and
having the means and ability to work toward the development of land
industrially ;
NOW, THEREFORE , the City of Oshkosh , hereinafter referred to as
the "City", and CHAMCO, INC., hereinafter referred to as "CHAMCO" ,
in order to work towards the industrial development of the following
described property , viz:
A . SOUTH INDUSTRIAL PARK
B . NORTH INDUSTRIAL PARK
C . SOUTHWEST INDUSTRIAL PARK
agrees as follows :
THE CITY AGREES:
1 . That by these presents , for and in consideration of Ten
Dollars ( $10.00) in hand paid , receipt of which is hereby
acknowledged from CHAMCO, has agreed and does agree to hold until
the thirty-first (31st) day of December, 1988, at 12:00 P.M., time
being of the essence of this agreement , an option, subject to the
order of CHAMCO to purchase all of the premises owned by the City of
Oshkosh known as and consisting of the following :
A . SOUTH INDUSTRIAL PARK
B . NORTH INDUSTRIAL PARK
C . SOUTHWEST INDUSTRIAL PARK
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and the City of Oshkosh covenants to convey by Warranty Deed any
portion of said property thereof at any time within the above time
prescribed , to CHAMCO or such person or persons as CHAMCO may direct
for and at the price of Schedule attached and price thereof, payable
on delivery of a Warranty Deed by the City , subject , however, to the
further requirement that this Option shall be of no effect and no
rights shall inure to CHAMCO or any other person or persons
hereunder or by any purported exercise of this Option , unless within
the time written notice of exercise of this Option shall be
delivered to the City Attorney of the City of Oshkosh. The purchase
price attached hereto includes , for the North and South Industrial
Parks , graded and graveled streets , sanitary sewer and water mains
and storm sewers as needed . The prices for the Southwest Industrial
Park includes graded and graveled streets , sanitary sewers , water
main and gas main and storm sewers as needed .
2 . CHAMCO , a non-profit organization , agrees :
a. To attempt to work toward the industrial development
of the land which is the subject matter of this agreement .
b . To sell land for use permitted in the M -Zone of the
City of Oshkosh Zoning Ordinance and as limited by protective
covenants .
c. That they have adopted protective covenants for land
sold hereunder and before any changes to said covenants are
adopted , they will be submitted to the Oshkosh City Council for
review. CHAMCO shall monitor the enforcement of these
covenants and if a breach occurs which requires repurchase,
then in that event , CHAMCO shall assign its right to repurchase
to the City of Oshkosh .
3 . This Agreement shall be terminable by either party by
giving to the other party six (6) months written notice of its
desire to terminate .
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IN WITNESS WHEREOF , the City of Oshkosh, Wisconsin, and CHAMCO,
INC. have respectively caused this agreement to be duly executed on
this day of April , 1988 .
IN THE PRESENCE OF : CITY OF OS KOSHH
By: �� e_
William D . Frueh , City Manager
A n d _ 'i-j!Z,j1dI ( . w)
Donna C . Serwas , City Clerk
CHAMCO.OINC . . 7
By: (_ ' _ ,e --
Robert Fick , President
And : /:
Timothy 'Casey , Secretary
STATE OF WISCONSIN)
) SS .
WINNEBAGO COUNTY ) -
61 r7 F ci%, P,- s; r∎_"7 1-1 4,,
Personally came before me this .2 day of April , 1988, the
above named * '" r, and
--- ��r"k-,o-f - - ! - • - - , to me known to be the persons
who executed t e foregoing instrument and acknowledged same as and
for said Corp ration , by its authorit .
Ti 910-F-A� M C�se7 ec�e ar7 + (I cL,7.
Not.ry Public , Winnebago Co . , WI
My Commission : 1 ZZ %4j /%(;)t-'
STATE OF WISCONSIN)
) SS .
WINNEBAGO COUNTY )
Personally came/before me this _ j _ day of April/ 1988, the
above named P h + d ' Pre • * , and Timothy Ca y, Secretary of
.0 b. m io Ti . , to me known to be the persons who executed the fore-
going instrument and acknowledged ame as an• for said corporation,
by its authority.
' ' 441--
Notary Public , Winnebago Co . , WI
My Commission : '-v+ -,-
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SCHEDULE OF 1988 PRICES
A . SOUTH INDUSTRIAL PARK
Parcel # 1 $10 ,000 per acre
Parcel #2 $13 ,500 per acre
B . NORTH INDUSTRIAL PARK
Property lying South of Fernau Avenue
and East of North Main Street $10 ,000 per acre
All other available sites in Park $10 ,000 per acre
C . SOUTHWEST INDUSTRIAL PARK
All Parcels adjacent to Washburn Avenue
(minimum parcel size of 5 acres) $25 ,000 per acre
All Parcels North of and fronting on
Hwy 44 with a depth of 500 ' and a mini-
mum parcel size of 5 acres $20 ,000 per acre
Parcels south of , and fronting on Hwy .
44 with a depth of 500 ' $17 ,500 per acre
All other available sites in Park $10 ,500 per acre
The City of Oshkosh reserves the right to reduce the prices herein
established for individual parcels for good and sufficient reasons
as determined by said City. CHAMCO, INC. shall have the right to
sell the properties which are the subject matter of this Agreement
and shall receive ten percent ( 10% ) plus $250 .00 per acre of the
scheduled price for incidental expenses .
Should the City determine to sell land for less than the scheduled
price , then CHAMCO'S ten percent ( 10%) shall be determined by the
actual selling price .
The above schedule shall be in effect for calendar year 1988 .
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