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December 18, 1986
(CARRIED LOST
PURPOSE:
iNITIATED BY:
LAID OVER
�1423 RESOLUTION
WITHDRAWN )
APPROVE LAND CONTRACT MODIFICATIONS/BRAYTON
CITY ADMINISTRATION
WHEREAS, the City of Oshkosh and Robert A. Brayton previously executed two
land contracts for the purchase of properties in the City's Southwest Industrial
Park; and
WHEREAS, the parties desire to alter the payment schedules on each contract
primarily to defer remaining principal payments and to extend time for payment;
NOW, THEREFORF., BE IT RESOLVED by the Common Council of the City of Oshkosh that
the proper City officials are authorized and directed to enter into an appropriate
agreement with Robert A. Brayton to reflect the following modified payment schedules:
1978 Contract; Balance Due $52,344.26
Payment Date Principal Due
12-30-87
12-30-88
12-30-89
12-30-90
12-30-91
12-30-92
12-30-93
12-30-94
12-30-95
12-30-86
12-30-87
12-30-88
12-30-89
12-30-90
12-30-91
12-30-92
12-30-93
12-30-94
12-30-95
-0-
-0-
$6,500.71
6,858.25
7,235.46
7,633.41
8,053.24
8,496.17
8,963.43
Interest Due
$ 2,450.00
584.04
2,955.74
2,598.20
2,220.99
1,823.04
1,403.21
960.28
492.99
1981 Contract; Balance Due $139,044.00
-0-
-0-
-0-
-0-
-0-
-0-
36,760.46
38,782.28
40,915.31
43,165.64
11,123.52
9,269.60
7,415.68
5,561J6
3,707.84
1,853.92
8,779.30
6,757.48
4,624.45
2,374.11
Total Payment
$2,450.00
884.04
9,456.45
9,456.45
9,456.45
9,456.45
9,456.45
9,456.45
9,456.42
11,123.52
9,269.60
7,415.68
5,561.76
3,707.84
1,853.92
45,539.76
45,539.76
45,539.76
45,539.75
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