HomeMy WebLinkAboutRESOLUTION - 12-15 - 4/14/2015 - 321 BOND - AVISON YOUNG AGREEMENTRESOLUTION NO. 12-15
A RESOLUTION AUTHORIZING THE MAYOR AND VILLAGE CLERK TO
EXECUTE A COMMISSION AGREEMENT BETWEEN THE VILLAGE OF ELK
GROVE VILLAGE AND AVISON YOUNG — CHICAGO, LLC
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Board of Trustees of the
Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois as follows:
Section 1: That the Mayor be and is hereby authorized to sign the attached document
marked:
COMMISSION AGREEMENT
a copy of which is attached hereto and made a part hereof as if fully set forth and the Village
Clerk is authorized to attest said document upon the signature of the Mayor.
Section 2: That this Resolution shall be in full force and effect from and after its passage
and approval according to law.
VOTE: AYES: 5 NAYS: 0 ABSENT: 1
PASSED this 14`h day of April 2015.
APPROVED this 14th day of April 2015.
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Judith M. Keegan, Village Clerk
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COMMISSION AGREEMENT
This Agreement is made and entered into this 14'h day of April, 2015 by and between the Village
of Elk Grove Village, an Illinois Home Rule Municipality ("Village") and Avison Young —
Chicago, LLC ("AYC") in consideration of the promises and conditions hereinafter set forth, the
sufficiency of which is hereby acknowledged do hereby agree as follows:
SALE: Should the Village and Diamond Screen Process or any entity formed by or
related to said entity, including Hoogland Properties, LLC or its nominee or assignee,
consummate and close a real estate transaction involving the sale of an approximately
25,673 square feet building to be built on approximately 1.92 acre site located at 321
Bond Street, Elk Grove Village, IL, then and in that event the Village will pay AYC a
commission as hereinafter set forth.
2. COMMISSION DUE: The commission shall be 2.5% of the gross sale price and shall
be paid in full at the time of closing or at the time of execution and delivery in the case of
an installment purchase contract. The gross sale price is hereby established at $825,000.
3. AUTHORITY: Owner represents that it has the full right, power and authority to
execute this Agreement and to consummate a transaction as provided herein, and to
perforin the obligations hereunder. The individuals signing this Agreement represent that
they are authorized signatories.
4. PROFESSIONAL ADVICE: Owner agrees that in determining the financial soundness
of any prospective purchaser, Owner will rely solely upon Owner's own investigation
and evaluation, notwithstanding AYC's assistance in gathering any financial information.
5. BINDING AGREEMENT: This Agreement is binding upon the parties and their
respective successors and assignees.
6. COUNTERPARTS: This Agreement may be executed in two or more counterparts, all
of which shall be considered one and the same agreement.
7. ENTIRE AGREEMENT: This Agreement constitutes the entire agreement between
Owner and AYC and supersedes all prior discussions. No modifications of this
Agreement will be effective unless made in writing and signed by both Owner and AYC.
Owner acknowledges receipt of a copy of this Agreement and the Commissions
Schedule.
In WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the
Effective Date set forth above.
VILLAGE OF ELK GROVE VILLAGE
By: Mayor Criag B. Johnson
Mayor Craig B. Johnson
Date: April 14, 2015
Attest: Judith M. Keegan, Village Clerk
Judith M. Keegan, Village Clerk
Date: April 14, 2015
AVISON YOUNG — CHICAGO, LLC
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