Brant v. Hutchinson

40 Ill. App. 576, 1890 Ill. App. LEXIS 649
CourtAppellate Court of Illinois
DecidedJune 8, 1891
StatusPublished
Cited by5 cases

This text of 40 Ill. App. 576 (Brant v. Hutchinson) is published on Counsel Stack Legal Research, covering Appellate Court of Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Brant v. Hutchinson, 40 Ill. App. 576, 1890 Ill. App. LEXIS 649 (Ill. Ct. App. 1891).

Opinion

Gary, J.

November 30, 1888, Hutchinson filed a hill to foreclose a mortgage, executed by Brant and wife to him, upon real estate in Chicago, upon which was then due $14,000 and some interest.

Brant and wife sold the premises, subject to the Hutchinson mortgage, to Baker and his wife for $81,000, $70,000 of which was secured by a mortgage executed by Baker and wife.

The deed of conveyance and the mortgage were dated May 1, 1888, the deed recorded June 18, 1888, and the mortgage November 30, 1888. The reason for delaying the recording of the mortgage was that the security to he given by the Bakers to the appellee Courtney, might have priority.

The appellants Thomas B. Baker and Sophronia Baker, bought the premises as a location for a theatre.

With the concurrence of Brant, the}' made a contract dated June 15, 1888, with the appellee Thomas E. Courtney, he being the party of the first part, and they of the second, as therein mentioned, of which the parts material for the present purpose are as follows:

“ Witnesseth, that whereas the said party of the first part, in consideration of the covenants and agreements to be kept and performed by the said parties of the second part, their, and each of their, respective heirs, executors, administrators and assigns, has covenanted and agreed and by these presents does hereby covenant and agree for himself and his heirs, executors and administrators or assigns, to build, erect and complete, in a substantial and workmanlike manner, according to the plans and specifications drawn by M. F. McCarthy, a copy of said plans and specifications being hereto annexed and made a part of this agreement, one certain building, the front portion of which is to be six (6) stories and basement in height, the first floor to be used as stores and the upper portion as a hotel, and the rear portion of said building to be used as a theatre.

“ Said party of the first part hereby agrees for himself and his heirs, executors, administrators or assigns, to excavate the ground and to erect and complete the said building according to the plans and specifications aforesaid, and to have the portion of said building which is to be used as a theatre, the basement, store floor, and the entrance to said theatre in the front portion of said building completed and ready "for use and occupancy on or before the fifth (5th) day of November, A. D., 1888, and the remaining portion of the building tobe used as a hotel, to be finished and ready for occupancy on or before the first (1st) day of December, A. D. 1888, provided, however, that in case any delay shall arise from fire, tempest, frost or other inevitable cause, or from any building strike, or strike in the building trade, then such further time shall be allowed for the completion thereof as is reasonably necessary therefor.

“ The erection of said building shall be under the direction and supervision of said architect,-M. F. McCarthy, and in accordance with such explanations and directions as he may from time to time give for the purpose of such work. The said first party or his foreman shall always be at the building during the usual working hours.

“The said party of the first part hereby agrees to sublet the contracts for the various portions of the labor and material with which the said building is to be erected, to the lowest responsible bidder, reserving to himself the privilege of rejecting any particular bid, providing he can obtain another responsible bid equally as low.

“And the said party of the first part hereby agrees to keep an accurate and correct account of all liis expenditures for labor and material for said building, and to exhibit to the said parties of the second part from time to timo, as maj' be required, vouchers for each payment for labor, material and other ■expenses incurred in the erection of such building, and upon the full completion thereof, and settlement therefor between the parties hereto, to deliver to said second parties all such vouchers and receipted bills.

“And the said parties of the second part hereby agree, for themselves and their, and each of their, respective heirs, executors, administrators and assigns, to pay to the said party of the first part, or his legal representatives, the amount expended by him for such labor and materials and other expenses in or about the erection and completion of said building, and in addition thereto as compensation for his services twelve and one-half (12½) per cent upon the cost of said building.

“And the said parties of the second part covenant and agree with the said party of the first part, to pay him on or before the fifth (5th) day of November, A. D. 1888, the said cost of said building up to that time, together with the said compensation of twelve and one-half (12½) per cent thereon, and upon the full completion of said building (except the portion hereinafter agreed to be made by the said parties of the second part) they shall pay to the said party of the first part, in full, for all his expenditures and services in and about the erection of said building.

“And it is further covenanted and agreed by and between the parties hereto, that the cost of said building as estimated will be about eighty-five thousand dollars ($85,000), and to secure the said party of the first part, his heirs, executors, administrators and assigns, for any payments and expense by him made and sustained in the performance of this agreement, as well as his compensation, said parties of the second part have this day given their promissory note for said sum of eighty-five thousand dollars ($85,000), payable on or before the fifth (5th) day of November, A. D. 1888, to the order of Thomas E. Courtney (said party of the first part), at the Commercial National Bank of Chicago, Illinois, with interest at eight (8) per cent per annum after maturity, secured by trust deed upon said premises and building aforesaid, which premises are described as follows:

“Lots 19, 20 and 21, in block 1, of William Jones’ addition to Chicago, in the S. W. ¼ of Section 22, T. 39 N., R. 14 E. 3d P. M., in Cook County, Illinois.

“ But it is further mutually understood that said parties of the second part are to raise a considerable portion of the money to make said improvements, by a loan to be secured upon said premises, and the said party of the first part agrees that upon the negotiation of such loan, for such amount as may be mutually agreed upon, he will release his said trust deed and become entitled to the funds to be raised by such loan, to the extent of the cost of said building and his compensation, after paying an existing incumbrance upon the said premises of about fourteen thousand dollars ($14,000).

“ And should the funds raised by said loan, together with such moneys as may be otherwise raised and paid by said parties of the second part, be sufficient to satisfy said incumbrance of about fourteen thousand dollars ($14,000), and the cost of said building and said compensation, then the remainder of said loan to the extent of eleven thousand dollars ($11,000) shall be paid to Daniel B. Brant, which sum of eleven thousand dollars ($11,000) added to the aforesaid eighty-five thousand dollars ($85,000) make the note, given by said parties of the second part, to the said party of the first part, of the sum of ninety-six thousand dollars ($96,000) in all.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Zographos v. Vichas
46 P.2d 577 (Oregon Supreme Court, 1935)
Nussenfeld v. Smith
148 A. 388 (Supreme Court of Connecticut, 1930)
John E. Burns Lumber Co. v. W. J. Reynolds Co.
148 Ill. App. 356 (Appellate Court of Illinois, 1909)
Robinson v. Robinson
50 Ill. App. 414 (Appellate Court of Illinois, 1893)
Barrett v. Short
41 Ill. App. 25 (Appellate Court of Illinois, 1891)

Cite This Page — Counsel Stack

Bluebook (online)
40 Ill. App. 576, 1890 Ill. App. LEXIS 649, Counsel Stack Legal Research, https://law.counselstack.com/opinion/brant-v-hutchinson-illappct-1891.