S-390 - 11/09/1977 - AGREEMENT - Ordinances ORDINANCE NO.
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AN ORDINANCE AUTHORIZING THE EXECUTION AND DELIVERY OF A
CERTAIN AGREEMENT ENTITLED "SECOND AMENDMENT TO
AGREEMENT BY AND BETWEEN THE VILLAGE OF OAK BROOK
AND THE BUTLER COMPANY, DATED MAY 31, 1977. "
WHEREAS, the Village of Oak Brook pursuant to authorization under
Ordinance No. S-375 adopted on May 31, 1977, entered into an agreement with
The Butler Company dated May 31, 1977, pursuant to which the Village of
Oak Brook agreed to purchase and The Butler Company agreed to sell ap-
proximately 269 net acres of property and improvements therein described and
commonly referred to as the Butler International Sports Core at a price of
$9, 420, 000 (said agreement being hereinafter sometimes referred to as the
"Purchase Agreement"); and
WHEREAS, since the execution of the Purchase Agreement the parties from
time to time have considered modifications to the Purchase Agreement; and
WHEREAS, the parties heretofore on October 24, 1977, executed a
First Amendment to the Purchase Agreement modifying several provisions
of the manner of payment of the purchase price under Paragraph 3 of the Purchase
Agreement and now desire to modify several of the other provisions contained
in the Purchase Agreement and in several of the Exhibits thereto in the manner
and to the extent hereinafter stated; and
WHEREAS, an amendment to the Purchase Agreement incorporating
said modifications entitled "Second Amendment to Agreement by and between
the Village of Oak Brook and The Butler Company, dated May 31, 1977" has
been prepared and submitted to the Corporate Authorities of the Village; and
WHEREAS, the Corporate Authorities of the Village of Oak Brook
deem the passage of this Ordinance to be in the best interest and in furtherance
of the general welfare of the citizens of the Village of Oak Brook.
NOW, THEREFORE, BE IT ORDAINED by the President and Board of
Trustees of the Village of Oak Brook, DuPage and Cook Counties, Illinois, that:
SECTION 1: The provisions of the preamble hereof are herein restated.
SECTION 2: The President of the Village be and he is hereby authorized,
empowered, and directed for and on behalf of the Village to execute and deliver
that certain Second Amendment to Agreement by and between the Village of Oak
Brook and The Butler Company, dated May 31, 1977, in substantially the form
presented to, read, and considered by the President and Board of Trustees of
the Village, a copy of which Second Amendment to Agreement is annexed to
this Ordinance as Exhibit A and by this reference incorporated herein as
though herein fully set forth.
SECTION 3: The Village Clerk is hereby authorized and directed to attest
to the execution of said agreement, affix the Village Seal thereto, and to
certify the passage of this Ordinance, all as otherwise provided by the ordinances
of the Village of Oak Brook and the laws of the State of Illinois.
SECTION 4: This Ordinance shall be in full force and effect from and after its
passage and approval as. provided by law. This Ordinance shall be published in
pamphlet form.
PASSED and APPROVED this `_ dayof 1977.
APPROVED:
ATTEST: resident
Village Clerk
AYES:
NAYS: 1 '. j
ABSENT:
Filed in the Office of the Village Clerk and published in pamphlet form by
authority of the Corporate Authorities of the Village of Oak Brook, DuPage
and Cook Counties, Illinois, this ((c ' day of 1977.
Village Clerk
APPROVED AS TO FORM:
i1flage Attorney
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