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TO: Board of County Commissioners t v f FROM: Charles P. Vitunac, County Attorney DATE: May 16, 1988 RE: COUNTY ACQUISITION OF RIVER EDGE UTILITY FROM KEPPLER Commission Meeting - May 31, 1988 The County recently acquired Tracts D and E of River Edge Subdivision from Elliot Keppler, along with the existing utilities. The transfer was precipitated by court action taken by the County's Environmental Control Board caused by the inability of the utility owner to provide safe drinking water to the residents of River Edge and by the offer of the County's Utilities Department to step in and renovate and manage the system. When the County took this property, there were some Liens against the property which the County had to assume. The County required the owner, Keppier, to sign two promissory notes in favor of the County, and, to get the outstanding liens released by the lien holder, PERRY & LEIGHTY. INC., the County entered into an agreement with PERRY & LEIGHTY, INC., to pay it $3,000 cash now and to assign the two promissory notes with the proviso that the first $3,000 PERRY 6 LEIGHTY, INC. collects be returned to the County with interest. PERRY 8 LEIGHTY, INC. has executed an agreement in this regard along with a satisfaction of its lien; therefore, we iow request Board authorization to pay the sum of $3,000 to PERRY & LEIGHTY, INC. and for the Chairman to execute the agreement as well as the assignment of the two promissory notes. ON MOTION by Commissioner Eggert, SECONDED by Com- missioner Wheeler, the Board unanimously authorized the payment of $3,000 to Perry & Leighty, Inc., and authorized the Chairman to execute the agreement with Perry 6 Leighty, Inc., and the assignment of the two promissory notes. SAID DOCUMENTS ARE ON FILE IN THE OFFICE OF CLERK TO THE BOARD. 86 MAY 311988 800 72r,,,,t 491