HomeMy WebLinkAboutChamco, Inc 5/23/1986 AfillEERNET
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, 1986, 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
-1-
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 enforcemnt 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.
-2-
IN WITNESS WHEREOF, the City of Oshkosh, Wisconsin, and CHAMCO,
INC. have respectively caused this agreement to be duly executed on
�� �
this _ .. 46z,day of 1986.
IN fT E PRESENCE OF: CITY OF 0 ROSH//
/� ' fl y �'<,/i/7'../.4 By: /1—z ���
/ -- William D. Frueh, City Manager
�� ' r / 1,. r r,.__> And J ,,,
ND14 - 1 `lL -/
Donna C. Serwas, City Clerk
CHAM , IN O,( -41 4:L,)
?.<# ,_::(' ' / W.,_
Doroth •xtell Timothy M. empsey, Pres ent
*h.. ...%►� '!ate And: ' 2 fill ' -CA'"
Beth Engstrom Timothy M. Case r Secretary
g �
STATE OF WISCONSIN )
SS.
WINNEBAGO COUNTY )
Personally came before me this day of , 1986, the
above named William D. Frueh, City Manager, and Donna C. Serwas, City
Clerk, of the City of Oshkosh, to me known to be the persons who
executed the foregoing instrument and acknowledged same as and for sai(
corporation, by its authority.
4/3 4
Notary Public, Winnebago Co. , WI
My Commission: / a/" 1i
STATE OF WISCONSIN )
SS.
WINNEBAGO COUNTY )
May
Personally came before me this 21st day of kind., 1986, the
above named Timothy M. Dempsey, President, and Timothy M.Casey Secretary
of Chamco, Inc., to me known to be the persons who executed the
rpregoing instrument and acknowledged same as and for said corporation
0 , b its authority.
ILI : ,__,o— ` / i ns ,lie r_
r 2 Dorothy . Hoxtell
Qm - Notary Public, Winnebago Co. , WI
M �� i<= My Commission: expires 31 Jan. 1988
YAA. i�
3
SCHEDULE OF 1986 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 $ 7,000 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 ti
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 1986.
-4-