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HomeMy WebLinkAbout2016 Approving Payment in Accordance w/the Terms of the Agreement Betwee the City and Gunter Construction Company BILL NO. 2024-045 ORDINANCE NO. JP/(' AN ORDINANCE APPROVING PAYMENT IN ACCORDANCE WITH THE TERMS OF THE AGREEMENT BETWEEN THE CITY OF RIVERSIDE, MISSOURI AND GUNTER CONSTRUCTION COMPANY WHEREAS, the City of Riverside, Missouri (the "City") has certain real property in what has been platted as the Riverside Small Lot Subdivision (the "Subdivision"); and WHEREAS, the City has received offers to purchase certain lots within the Subdivision; and WHEREAS, the City has rejected the Gunter Construction Company's offer to purchase Lots 5, 6 and 7 of the Subdivision ("the Property"); and WHEREAS, the City has entered into an agreement with Gunter Construction Company ("GCC") titled "Acknowledgement And Acceptance Of Rejection Of Offer to Purchase Lots 5, 6 and 7" ("Agreement"), attached hereto as Exhibit A and incorporated herein; and WHEREAS, the agreement confirms the City's Rejection of GCC's Offer to Purchase the Property, and GCC waives any and all rights and/or claims, perceived or real, known or unknown to the Property; and WHEREAS, pursuant to the Agreement, the City shall pay GCC Forty-Six Thousand Six Hundred Sixty-Five and 41/100 Dollars ($46,665.41) (the "Payment"); and WHEREAS, the Board of Aldermen find it to be in the best interests of the City in order to further the objectives of industrial and economic development of the City, as well as in furtherance of the objective to protect the health, safety, and welfare of the businesses and citizens of the City, to approve the Agreement titled "Acknowledgement And Acceptance Of Rejection Of Offer to Purchase Lots 5, 6 and 7" and the Payment to be made pursuant to the Agreement. NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS: SECTION 1. BEST INTEREST OF THE CITY TO APPROVE AND PAY GUNTER CONSTRUCTION COMPANY, THAT CERTAIN PAYMENT PROVIDED PURSUANT TO THE ACKNOWLEDGEMENT AND ACCEPTANCE OF REJECTION OF OFFER TO PURCHASE LOTS 5, 6 AND 7. It is in the best interests of the City in order to further the objectives of industrial and economic development of the City, as well as in furtherance of the objective to protect the health, safety, and welfare of the businesses and citizens of the City, to approve payment to Gunter Construction Company pursuant to that certain Agreement titled "Acknowledgement And Acceptance Of Rejection Of Offer to Purchase Lots 5, 6 and 7" ("Agreement") in the amount of Forty-Six Thousand Six Hundred Sixty-Five and 41/100 Dollars ($46,665.41) (the "Payment"), and such Payment is hereby approved. SECTION 2. AUTHORITY GRANTED. The City hereby authorizes the Mayor, the City Administrator, the Director of Finance, Special Counsel to the City and other appropriate City officials to take all steps necessary to make the Payment authorized by Section 1 of this Ordinance, and to take any and all actions as may be deemed necessary or convenient to carry out and comply with the intent of this Ordinance and to execute and deliver for and on behalf of WA 11978354.1 the City all certificates, instruments, agreements and other documents, as may be necessary or convenient to perform all matters herein authorized. SECTION 3. EFFECTIVE DATE. This Ordinance shall be in full force and effect from and after its passage and approval. BE IT REMEMBERED that the above was read two times by heading only, PASSED AND APPROVED by a majority of the Board of Aldermen and APPROVED by the Mayor of the City of Riverside, Missouri, this 6'day of August, 2024. L Kathleen L. Rose, Mayor ATTEST: • • Robin Kincaid, City-Clerk Approxe --a to form: ender Fane LLP Special Counsel to the City ' ey,toe-a4dnar 2 WA 11978354 I the City all certificates, instruments, agreements and other documents, as may be necessary or convenient to perform all matters herein authorized. SECTION 3. EFFECTIVE DATE. This Ordinance shall be in full force and effect from and after its passage and approval. BE IT REMEMBERED that the above was read two times by heading only, PASSED AND APPROVED by a majority of the Board of Aldermen and APPROVED by the Mayor of the City of Riverside, Missouri, this 6th day of August, 2024. Kathleen L. Rose, Mayor ATTEST: • Robin Kincaid, City Clerk Approved as to form: Spencer Fane LLP Special Counsel to the City by Joe Bednar 2 WA 11978354.1 ACKNOWLEDGEMENT AND ACCEPTANCE OF REJECTION OF OFFER TO PURCHASE LOT 5,6 and 7 Whereas, Gunter Construction Company ("Gunter") presented a Letter of Intent Regarding the offer to purchase of Lots 6 and 7 in Riverside Small Lot Subdivision dated July 13, 2021 ("LOI") to the City of Riverside (the "City"), which was executed by both parties effective July 20,2021; and Whereas, the City requests Gunter to execute an acknowledgement the City rejected Gunter's offer to purchase Lot 5, 6 and 7. Whereas, In exchange for payment in the amount of$46,665.41 to Gunter and refund of its$10,000 deposit Gunter will waive its rights to Lot 5, 6 and 7 ; and Whereas, Gunter can be refunded its$10,000 deposit any time it chooses to by contacting the Title Company as the City has previously advised the Title Company to refund the deposit;and Whereas, the City, upon final approval by the Board of Aldermen, shall pay Gunter $46,665.41 in exchange for Gunter executing this Acknowledgement that the City rejects any and all of Gunters offers to purchase Lots 5, 6 and/or 7 of the "Riverside Small Lot Subdivision"as the City and the Gunter cannot reach an agreement on the material terms of such an agreement. Whereas, this Acknowledgement shall only become effective upon the actual receipt by Gunter of the payment of $46,665.41,as approved by the Board of Aldermen. Should the Board of Aldermen fail to approve the payment, or should the payment not be received by Gunter,this Acknowledgement shall be considered null and void, and Gunter shall retain all rights and remedies as if this Acknowledgement had not been executed; NOW THEREFORE, the City and Gunter Construction Company execute this Acknowledgement and Acceptance of the City's Rejection of Gunter Construction Company's Offer to Purchase Lots 5, 6 and/or 7, and Gunter waives any and all rights and/or claims, perceived or real, known or unknown to Lots 5, 6 and/or 7 of the "Riverside Small Lot Subdivision". SELLER: City of Riverside, Missouri Signature: Name: Ma Pr Kathleen L. Rose Date: D / BUYER: GUNTER CONSTRUCTION COMPANY,a Kansas corporation By: 17(aGLf�c, Name: Stephanie Gunter Title: VP Date: 7-29-24