HomeMy WebLinkAboutAgreement_General_9/21/1971_ ri
AGREEMENT
THIS AGREEMENT, made and entered into this a2-/ Sr day, of
, 1971, by and between the VILLAGE OF TEQUESTA,
FLORIDA, hereinafter referred to as the Village, and
WILLIAM E. SCHLUSEMEYER, SR. , of Tequesta, Palm Beach County,
Florida, hereinafter referred to as "Schlusemeyer" .
WITNESSET H:
WHEREAS , this date Schlusemeyer had donated, given and
transferred all of his shares of the capital stock of. PLANTREAT,
INC. , a Florida corporation having its principal place of
business in Tequesta, Palm Beach County, Florida, to the
Village , and
WHEREAS, PLANTREAT INC . , is now indebted to Schlusemeyer
and will be further indebted to him by December 28, 1971,
because of the necessity of modifying and improving PLANTREAT
according to the directions of the Palm Beach County Health
Department, and
WHEREAS, the Village offers to completely satisfy the debts
of PLANTREAT, INC . , to Schlusemeyer as of December 28, 1971, by
delivering to Schlusemeyer Village of Tequesta Excise Tax Revenue
Bonds issued pursuant to ordinance No. 161 of the Village of
Tequesta, Florida, in an amount equal to the indebtedness if
such indebtedness is below ONE HUNDRED THOUSAND DOLLARS- - - -
($100, 000.00) ; providing however that the amount of bonds
which the Village will be required to issue pursuant hereto
shall not exceed ONE HUNDRED THOUSAND DOLLARS
($100, 000.00) ; regardless of the actual size of such indebtedness,
and
WHEREAS , Schlusemeyer is willing to accept in complete payment
of the debts of PLANTREAT, INC. , to him as of December 28, 1971,
Village of Tequesta Excise Tax Revenue Bonds issued pursuant to the
above.
NOW THEREFORE:
The Village hereby agrees to deliver to Schlusemeyer Village of
Tequesta Excise Tax Revenue Bonds , issued pursuant to Village of
Tequesta ordinance no. 161, in an amount equal to the above in
complete satisfaction of the debts of PLANTREAT, INC. , to
Schlusemeyer, and Schlusemeyer agrees to accept such bonds in
complete satisfaction of the debts of PLANTREAT,. INC . , to him.
The bonds described herein shall be issued on or before May 1, 1972,
the principal amount of the above described revenue bonds shall
be payable as follows :
in an amount at least equal to 10% of the orginal
principal balance for the 1st four years
beginning /19,9,e/4_ / , 1973 and the
balance shall be due and payable on ,4 4c 1 L
, 1977 .
w:[.VNESS Whh.&_,RL O , the parties hereto have duly executed th i o
ag:rr,,mfut the day and year first above written.
Signed, sealed and ,delivered
in the presence of:
L
Wi Liam E. Schlus f eyer, Sr.
Signed, sealed and delivered VILLAGE OF TEQUESTA
in the presence of:
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M,fit r
Atte
Village lerk �,