HomeMy WebLinkAboutMO #3125MUNICIPAL ORDER NO. 3125
A MUNICIPAL ORDER APPROVING AND AUTHORIZING THE EXECUTION OF A
MODIFICATION TO THE TOLLING AGREEMENT BETWEEN THE CITY OF PADUCAH, JIM
SMITH CONTRACTING COMPANY LLC, AND JSC TERMINAL LLC d/b/a MIDWEST
TERMINAL
WHEREAS, the City of Paducah approved Municipal Order 2410 on November 24,
2020, authorizing a Tolling Agreement with Jim Smith Entities; and
WHEREAS, the City now wishes to modify said Tolling Agreement to extend the tolling
period to October 1, 2028.
NOW, THEREFORE, IT IS HEREBY ORDERED as follows:
Section 1. Authorization. The Board of Commissioners of the City of Paducah hereby
approves, and the Mayor of the City of Paducah, Kentucky, is hereby authorized and directed to
execute the Modification to Tolling Agreement with the Jim Smith Entities in substantially
the form attached hereto as Exhibit A and made part hereof.
Section 2. Effective Date. This Order shall be in full force and effect on and after the
date as approved by the Board of Commissioners of the City of Paducah, Kentucky.
A4- I'll
George ray, Mayor
ATTEST:
A �
Jdsay Parish, t Clerk
Adopted by the Board of Commissioners, September 2, 2025
Recorded by City Clerk, Lindsay Parish, September 2, 2025
MO\ agree- tolling agreement modification Jim Smith Midwest Terminal
EXHIBIT A
MODIFICATION TO TOLLING AGREEMENT
This Modification to Tolling Agreement ["Modificationt"] is entered into by and
between JIM SMITH CONTRACTING COMPANY, LLC, a Kentucky limited liability
company and JSC TERMINAL, LLC d/b/a MIDWEST TERMINAL, 1108 Dover Road,
Grand Rivers, Kentucky [individually and collectively "JSC"] and CITY OF PADUCAH,
KENTUCKY, of P.O. Box 2267, Paducah, KY 42002-2267 ["City"].
WITNESSETH:
WHEREAS, the Parties previously entered into a Tolling Agreement dated on or about
October 22, 2020, and December 16, 2020 ["Tolling Agreement" or "Agreement"], in which
they agreed to toll and suspend any applicable statute of limitations on claims that JSC may have
against the City until October 1, 2025;
WHEREAS, the Parties wish to extend the tolling period set forth in the original
Agreement;
NOW, THEREFORE, in consideration of the mutual promises contained herein,
including without limitation the continued forbearance by JSC to file suit, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the
Parties agree as follows:
1. Extension of Tolling Period. Section 1 of the Tolling Agreement is hereby
modified to extend the tolling period to October 1, 2028, in place of the prior expiration date of
October 1, 2025. All other provisions regarding early termination and notice in Section 1 remain
in effect.
2. Reaffirmation of Agreement. Except as expressly modified herein, all other
terms and conditions of the original Tolling Agreement shall remain unchanged and in full force
and effect, and are hereby ratified and reaffirmed by the Parties.
3. Counterparts. This Modification may be executed in counterparts, each of which
shall be deemed an original, and all of which together shall constitute one and the same
instrument.
IN WITNESS WHEREOF, the Parties have executed this Modification to Tolling
Agreement by their duly authorized representatives as of the dates set forth below.
JIM SMITH CONTRACTING COMPANY, LLC
BY:
TITLE:
COMMONWEALTH OF KENTUCKY
xV
COUNTY OF
Subscribed, sworn to and acknowledged before me by JIM SMITH CONTRACTING
COMPANY, LLC by and through its duly authorized representative,
, on this the day of 2025.
NOTARY PUBLIC
STATE AT LARGE
My commission expires:
Notary ID Number:
JSC TERMINAL, LLC d/b/a MIDWEST TERMINAL
BY:
TITLE
COMMONWEALTH OF KENTUCKY )
ss.
COUNTY OF )
Subscribed, sworn to and acknowledged before me by JSC TERMINAL, LLC d/b/a
MIDWEST TERMINAL by and through its duly authorized representative,
, on this the day of 2025.
NOTARY PUBLIC
STATE AT LARGE
My commission expires:
Notary ID Number:
CITY OF PADUCAH, KENTUCKY
BY:
Title
COMMONWEALTH OF KENTUCKY )
:ss.
COUNTY OF McCRACKEN )
The foregoing Deed and Consideration Certificate were subscribed, sworn to and
acknowledged before me by CITY OF PADUCAH, KENTUCKY, by and through its duly
authorized representative, on this
the day of 2025.
My commission expires:
Notary ID #
NOTARY PUBLIC
KENTUCKY STATE AT LARGE