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Home My WebLink About34420 / 87-078 May 21, 1987 #78 RESOLUTION (CARRIED LOST I.AID OVER WITHDRAWN ) PORPOSE: APPROVE AGREEMENT WITH CHAIICO� INC. INITIATED BY: CITY ADMINISTRATION BE IT RESOLVED by the Common Council of the City of Oshkosh that the attached Agreement with Chamco, Inc. for sale of lands in the var- ious industrial parks for the year 1987 is hereby approved. BE IT FURTHER RESOLVED that, notwithstanding the price listed in the attached "Schedule of 1987 Prices" , the purchase price for North Industrial Park property lying south of Fernau Avenue and east of North Main Street shall be $7, 000. 00 per acre only as to Hoffmaster Com- pany, Inc. until September l, 1987 , as previously offered by Chamco, Inc. SUB'.LTTPBD PY ______ ::.r:'_ ,. . . . . .. AFYi:O'1?D - 31 - . kes. H78 s � � asnaaz YHEREAS� the City of Oshkosh owns certai❑ lantls within the corporate limits of the City of Oshkosh and desires to sell such lands for Sndustrlal development ; and YHEREAS, CHAMCO, INC. Ss a non-profit Nisconsi❑ corporation interested Sn the industrial development oP the City of Oshkosh and having the means and ability to work toward t6e development of land industrially; NOW, THEREFOAE� the City of Oshkosh, Gereinafter referred to as the "City", and CHAMCO, INC.� hereinafter referred to as "CHAMCO" , in order to work toxards the Sndustrial development of the following described property , viz: A. SOUTH INDOSTAIAL PARR B. NORTH INDUSTAIAL PAAK C . SOUTAWEST INDUSTRIAL PARR agrees as Pollows: THE CITY AGREES: 1. That by these Dresents , for and in consideration of Ten Dollars ($10.00) Sn 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� 1987. at 12:00 P.M., time being of the essence of this agreement , an option, suDject to the order of CHAMCO to purchase all of the premises ouned by the City of Oshkosh known as and consisting of the following : A . SO�TH INDUSTRIAL PAAK B. NORTN INDUSTRIAL PARK C . SOUTHWEST INDUSTRIAL PAAK 7 - 31a - � Res. 47A and the City of Oshkosh covenants to convey by Narranty Deed any portion of sald property thereof at any time within the above time prescrited , to CHAMCO or such person or persons as CHAMCO may tlirect for and at the price oP Schedule attached and price thereof, payable on delivery of a Warranty Deed by the City , sub,ject� 6ovever, to the further requirement that this Option shall be oP no effect and no rlghts shall Snure to CHAMCO or any other person or persons hereunder or by any purported exercise of this Option, unless vithin the time written notice oP exercise of ttis Optlon shall be � delivered to the City Attorney of the City oP Oshkosh. The purehase price attaehed hereto includes , for the North and South Industrial Parks , graded and graveled streets, sanitary sexer and water mains and storm seuers as needed. The prices for Lhe Southwest Industrial Park i�cludes gradetl and graveled streets , sanitary sewers , water main and gas main and storm sewers as ❑eeded . 2 . CHAMCO, a non-proflt organizatioo , agrees: a. To attempt to Work toward the industrial development of the land which Ss the sub,Ject matter of this agreement . D . To sell land for use permitted in the M-ZOne of the City of Oshkosh Zoning Ordi�ance 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 Councll For review. CHAMCO shall monitor the enforcement of these covenants and if a breach occurs which requlres 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 - 31b - Res. N79 IN WITNESS NHEREOF , the City of Oshkosh, Misconsin, and CHAMCO� INC. have respectively caused this agreement to be tluly executed on this ____ day of May , 1987 . IN THE PAESENCE OF : CITY OF OSH%OSH ______—________________—___ BY'_____________________________ WSlliam D . Frueh � City Manager ____—______________________ And : _____________________________ Donna C. Serwas , City Clerk CHAHCO� INC . -_______-____ By'_________ _____________ Timot6y M. Dempsey , President _______________—______________ And : _____—_ ________—___________ Timothy CaseY , Secretary STATE OF WISCONSIN) ) 55 . NINNEBAGO COUNTY ) Personally came before me this ___ day of May , 1987 , the above ❑amed 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 said corporation , by Its authority . Notary Public , Ninnebago Co . , NI My Commission:___________________ STATE OF WISCONSIN) ) SS . NINNEBAGO COUNTY ) Personally came before me this _ day of May, 1987 � the above named Timothy M. Dempsey� President, and Timothy Casey� Secretary of Chamco � Inc.� to me knoun Lo be the persons who executed the foregoing instrument and acknoWledged same as and for said corporation , Dy its authority . _________________________________ Notary Public � Wlnnebago Co . � MI My CommSssion:___________________ 3 - 31c - Res. Y78 SCHEDULE OF 7987 PRICES A . SOOTH INDUSTRIAL PARK Parcel ;1 E10 ,000 per acre Parcel t2 E13 , 500 per acre B . NOflTH INDOSTRSAL PARH Property lying South of Fernau Avenue and East oP North Main Street $10 ,000 per acre All other available sites in Park $10 ,000 per acre C . SOUTHNEST INDUSTRIAL PARR All Parcels ad�acent to Nashburn Avenue (minimum parcel size of 5 acres) EZ5 ,000 per acre All Parcels North of and Pronting o❑ Huy 44 with a depth of 500 ' and a miai- mum parcel size oP 5 acres $20 ,000 per acre Parcels south of. and fronting on Hwy . 44 vith a depth oP 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 whie6 are the subjeet matter of this Agreement and shall receive ten percent ( 103 ) 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 ( 104) shall be determined by the actual selling price . The above schedule shall be in effect for calendar year 1987 . 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