HomeMy WebLinkAboutSAC/WAC charges AGREEMENT CONCERNING THE PAYMENT
OF LOCAL SAC AND WAC CHARGES
I, John O'Sullivan, do hereby agree to pay local Sewer Adjustment Charges (SAC)
and Water Adjustment Charges (WAC) in the amount of$39,879.00 related to the development
project at 3340 Shoreline Drive according to the terms and conditions of this Agreement.
1. Amount of Charges. �
A. Local SAC charges $20,079.00
B. Local WAC charges 19.800.00
C. Total $39,879.00
�. Pay:r.er�t Sch�d�a?e. The t�tal of thP SAC and WAC �h.arges ($39,879.00) is to be
paid in equal installments according to the following schedule:
A. First payment due on July 1, 1997 $ 7,975.80
B. Second payment due on July 1, 1998 $ 7,975.80
C. Third payment due on July 1, 1999 $ 7,975.80
D. Fourth payment due on July 1, 2000 $ 7,975.80
E. Fifth payment due on July 1, 2001 $ 7,975.80
3. Late Payment Penalty. If a payment is not received by the specified date, a late
payment penalty of 6% on the unpaid balance accrued from July 1 of the previous
year shall be added to the amount due.
4. Certification of Unpaid Payments and Penalties for Collection with Property Taxes.
If a payment is not received by September 1 of the year in which it is due, the
payment is to be certified for collection with the property taxes payable in the next
year.
5. Payment in Full Upon Sale of Property. If the property at 3340 Shoreline Drive is
sold,the full amount of the local SAC and WAC charges remaining unpaid will be
due and payable ap�n cicsir�g.
ATTEST:
�-%1��� � ,��.�'�'��-Zr�\ �-� ""�.
ohr} 'Sullivan City Admini� rator
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