HomeMy WebLinkAboutTermination Agreement/Party Wall 206 N Main St AGREEMENT \
THIS AGREEMENT entered into this _ _ day of October , 1987 ,
between the City of Oshkosh hereinafter referred to as party of the
first part, and Robert Barker and Joseph Mcllree, hereinafter known
as party of the second part ,
WHEREAS, the party of the first part and the party of the
second part through a Party Wall Agreement own property commonly
known as the south wall of the building located at 206 N. Main
Street and
WHEREAS, the parties wish to terminate said Party Wall
Agreement and have full title of said wall rest in the parties of
the second part ,
NOW, THEREFORE, IT IS AGREED by and between the parties as
follows :
1 . Party of the first part will pay to the party of the second
part the amount of $10 ,940 .00 for restoration of the party wall .
2 . Party of the first part•wil1 deed its interest in the wall
to parties of the second part .
3. Party of the first part will participate in rehabilitation
of said wall in the amount of 25% of said rehabilitation up to a
maximum amount of $35 ,365.00 (i.e., City's participation limited
to an amount equal to 25% of $35 ,365 .00) .
U. Party of the second part agrees to accept the party wall
and to be fully responsible for said wall .
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5. Party of the second part further agrees to have said wal l
repaired and restored fora total amount of not less than
$30 ,000 .00 .
IN WITNESS WHEREOF , the parties hereunto have set their hands
and seals as of the year and day set f h . . ove .
CITY OF OS ' OSH , -e/hf-e4/
Holbert Bar r
illiam D . Frueh , City Manager
Josep Mcllree
And :/&11142
Donna C . Serwas , City Clerk
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