HomeMy WebLinkAboutAgreement_Water Service_4/15/1968_ r
AGREEMENT
THIS AGREEMENT Made and entered into by and between
VILLAGE OF TEQUESTA, hereinafter referred to as Village, and
TEQUESTA WATER COMPANY, INC . , hereinafter referred to as Company.
W I T N E S S E T H•
WHEREAS, on the 1st day of March, 1968, the Village and
the Company have closed the purchase and sale of the assets of the
Company under the terms and conditions of that certain Purchase
and Sale Agreement dated August 14, 1967 ; and
WHEREAS, said Agreement required that the Company, at
the time of closing , deliver to the Village, all customer deposits
which were held in trust for said customers, subject to the claim
of the Company for unpaid bills ; and
WHEREAS, by delivery of these deposits the Company is
without security for the payment of the bills rendered for water
used during the month of February, 1968;
NOW, THEREFORE, for and in consideration of the premises
and of the mutual undertakings hereinafter set forth, the Village
and Company do agree each with the other as follows :
1. That on or about April 1, 1968, the Company will
advise the Village of any unpaid accounts owed by customers who
have previously made deposits with the Company.
2 . That, on or before April 15, 1968, the Village will
terminate service to such customers and shall deliver to the
Company that part of the deposit necessary to pay the amount due.
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3 . The obligation of the Village under this Agreement
shall not exceed the amount of such deposit.
IN WITNESS WHEREOF, the parties hereto have caused this
instrument to be signed and sealed by their respective officers.
VIL GE OF
(Village Seal) IjP4
By I /�- 4 , 64
Ge rg Bowden, Mayor
TEQUESTA WATER COMPANY, INC.
(Corporate Seal)
By
George W'. Offutt, I I President
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SCHEDULE RE SALE OF WATER COMPANY ASSETS BY TEOUESTA
WATER COMPANY INC . TO VILLAGE OF TE UESTA
I . At the closing the Seller must do the following :
A. Execute and deliver warranty deed from Tequesta Water
Company, Inc.
B. Execute and deliver warranty deed from Mr. and Mrs.
Offutt.
C. Execute and deliver bill of sale .
D. Execute and deliver certificate of non-litigation. (,,-
E . Execute and deliver certificate of secretary as to
incumbency of officers at time of closing, as to
amount of stock issued, and as to approval of trustees
of Offutt Trust of sale.
F. Deliver check for accrued interest on Water Revenue
Certificates .
G. Deliver check for amount of deposits, together with list
of names of depositors and amounts .
H. Agreement re compliance with engineer ' s requirements. o T
I. Information concerning additional lines installed since
August 14, 1967 .
J. Certificate re examination of records of Tequesta Water
Company, Inc. and the stock is in fact registered in the
name of Offutt Trust.
II . At the closing the Purchaser must do the following:
A. Hold special meeting of Councilmen at 10:00 A.M. , March 1,
1968 to:
(1) Adopt resolution ratifying contract and approving
closing.
(2) Complete establishment of various bank accounts,
including special account for dispursement of
monies at time of closing.
B. Execute and deliver certificate of non-litigation.
C . Execute receipt of various items not mentioned in bill
of sale.
D. Deliver certificates and cash.
E. Execute agreement concerning closing of accounts for
non-payment of February bills to Tequesta Water Company,
Inc.
F. Certificate re Mayor and Clerk are in fact Mayor and Clerk.