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HomeMy WebLinkAbout00-248 1 Resolution No. 00-248 RESOLUTION AUTHORIZING EXECUTION OF A DEVELOPMENT AGREEMENT WITH NORTHWEST, LLC (Northwest Business Park) BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that Ed Schock, Mayor, and Dolonna Mecum, City Clerk, be and are hereby authorized and directed to execute a Development Agreement on behalf of the City of Elgin with Northwest, LLC for the development of approximately 92 acres of land located at Route 72 and west of Galvin Drive known as the Northwest Business Park, a copy of which is attached hereto and made a part hereof by reference . s/ Ed Schock Ed Schock, Mayor Presented: November 15, 2000 Adopted: November 15, 2000 Omnibus Vote : Yeas 7 Nays 0 Attest : s/ Dolonna Mecum Dolonna Mecum, City Clerk DEVELOPMENT AGREEMENT This Development Agreement is made and entered into this T/( day of bEcE/,k&/Z , 2000, by and between the CITY OF ELGIN, an Illinois municipal corporation, (hereinafter referred to as the "City" ) and NORTHWEST, LLC, an Illinois Limited Liability Company, (hereinafter referred to as "Developer" ) . WITNESSETH WHEREAS, Developer is the Contract Purchaser and Developer of the property in the City of Elgin located on State Route 72 and West of Galvin Drive, consisting of approximately 92 acres of land, such property being legally described in Exhibit A attached, hereto, ' (hereinafter referred to as the "Subject Property" ) ; and - WHEREAS, Developer, after consultations and negotiations with the City, has determined to proceed with the development of the Subject Property; and WHEREAS, Developer' s proposed development of the Subject Property will consist of an Office/Research/Industrial Subdivision of approximately 69 acres and open space for stormwater management facilities of approximately 23 acres; and WHEREAS, in order to provide for the continued development of the City including the development of the Subject Property and the ongoing development of the Randall Road corridor the City has agreed to provide certain development assistance; and WHEREAS, the development of the Subject Property will result in a substantial increase in the City' s tax revenues and an increase in tax revenues to other local taxing districts; and WHEREAS, the development of the Subject Property will result in substantial new employment opportunities in the City; and WHEREAS, the City of Elgin is a home rule unit authorized to exercise any power and perform any function relating to its government and affairs; and WHEREAS, the economic development initiatives to be provided by the City which will encourage the development of the Subject Property and which will result in substantial increases in the City' s tax base and employment opportunities within the City of Elgin are matters within the government and affairs of the City of Elgin. NOW, THEREFORE, for and in consideration of the mutual promises and undertakings contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows : 1 . That the foregoing recitals are incorporated into this agreement in their entirety. 2 . That Developer shall develop the Subject Property as the Northwest Business Park in accordance with the final plat of subdivision and final engineering plans for the -2- Northwest Business Park as approved by the City (hereinafter referred to as the "Northwest Business Park Development" ) . It is understood and agreed that the Northwest Business Park Development when completed shall consist of approximately 1 . 2 million square feet of completed Office/Research/Industrial Buildings . 3 . That in consideration of Developer' s undertaking and completing the development of the Subject Property with the Northwest Business Park Development as provided herein the City agrees to provide the economic development assistance to Developer as follows : A. Upon the execution of this Agreement the City agrees to convey to the Developer by quit claim deed the parcel of land legally described on Exhibit B attached hereto and depicted on Exhibit C attached hereto. B. The City is requiring the Developer as part of the Northwest Business Park Development to extend a 12-inch municipal water line from its current location ( "Point All on Exhibit D attached hereto) within the easement granted for such purpose along the east boundary of Galvin Drive to a point no less than 10 feet south of the south right-of-way line of Illinois Route 72 ( "Point B" on Exhibit D attached hereto) , such waterman extension being hereinafter referred to as the "West Pressure Zone Water Main Extension" . The Developer shall commence and complete construction of such West Pressure Zone Water Main Extension on or before -3- September 30 , 2001 and in accordance with the final engineering plans for same as approved by the City. At such time as the Developer has completed construction of, and the City has accepted for public ownership and maintenance, the West Pressure Zone Water Main Extension, the City agrees to reimburse Developer, within sixty (60) days after the adoption by the City of the Resolution of acceptance thereof, the lesser amount of (a) the actual cost of construction of the West Pressure Zone Water Main Extension, including but not limited to (i) expenditures for actual construction, (ii) surveying and engineering fees, (iii) legal fees, and (iv) interest on Developer ' s expenditures for such costs and expenditures computed from the date of each such disbursement at a rate equal to the federal reserve prime rate of interest as published in the Wall Street Journal, rate changing on the first day of each following month, and (b) One Hundred Seventeen Thousand Dollars ($117, 000) . C. The City is requiring the Developer as part of the Northwest Business Park Development to extend a 10-inch sanitary sewer line from a beginning location ( "Point C" on Exhibit D attached hereto) within the easement granted for such purpose along with west boundary of Galvin Drive to a point not less than 10 feet south of the south right-of-way line of Illinois Route 72 ( "Point D" on Exhibit D attached hereto) such sanitary sewer extension being hereinafter referred to as the "Sanitary Sewer Extension" . The Developer -4- shall complete the construction of the Sanitary Sewer Extension on or before September 30 , 2001 and in accordance with the final engineering plans for same as approved by the City. At such time as the Developer has completed the construction of, and the City has accepted for public ownership and maintenance, the Sanitary Sewer Extension, the City agrees to reimburse Developer, within sixty (60) days after the adoption by the City of the resolution of acceptance thereof, the lesser amount of (a) the actual cost of construction of the Sanitary Sewer Line Extension, including but not limited to (i) expenditures for actual construction (ii) surveying and engineering fees, (iii) legal fees, and (iv) interest on Developer' s expenditures for such costs and expenditures computed from the date of each such disbursement at a rate equal to the federal reserve prime rate of interest as published in the Wall Street Journal , rate changing on the first day of each following month, and (b) Forty Thousand Dollars ($40 , 000) . 4 . That the parties understand and agree that the economic development assistance being provided by the City to the Developer as set forth herein is expressly contingent upon Developer ' s development of the Northwest Business Park Development on the Subject Project as set forth herein. In the event Developer has failed to complete the development of the Subject Property with the Northwest Business Park Development including the construction of approximately 1 . 2 -5- million square feet of completed Office/Research/Industrial buildings on the Subject Property on or before December 31, 2020 , the parties understand and agree that Developer shall reimburse the City in full any funds paid to the Developer as provided for in the preceding paragraphs 3B and 3C hereof . 5 . That this agreement shall not be deemed or construed to create an employment, joint venture, partnership, or other agency relationship between the parties hereto. 6 . That all notices or other communications hereunder shall be made in writing and shall be deemed given if personally delivered, sent by overnight courier or mailed by registered or certified mail, return receipt requested, to the parties at the following addresses, or at such other addresses for a party as shall be specified by like notice, and shall be deemed received on the date which said notice is hand delivered or the second business day following the date on which so mailed: TO THE CITY: City of Elgin 150 Dexter Court Elgin, Illinois 60120-5555 Attn: City Manager TO THE DEVELOPER: Northwest, LLC 1847 Walden Office Square, Suite 350 Schaumburg, IL 60074 7 . That the failure by a party to enforce any provision of this agreement against the other party shall not be deemed a waiver of the right to do so thereafter. -6- 8 . That this agreement may be modified or amended only in writing signed by both parties hereto, or their permitted successors or assigns, as the case may be . 9 . That this agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter as set forth herein, all prior agreements and understandings having been merged herein and extinguished hereby. 10 . That this agreement is and shall be deemed and construed to be a joint and collective work product of the City and Developer and, as such, this agreement shall not be construed against the other party, as the otherwise purported drafter of same, by any court of competent jurisdiction in order to resolve any inconsistency, ambiguity, vagueness or conflict, if any, in the terms or provisions contained herein. 11 . That this agreement is subject to and shall be governed by the laws of the State of Illinois . Venue for the resolution of any disputes or the enforcement of any rights pursuant to this agreement shall be in the Circuit Court of Kane County, Illinois . 12 . That this agreement shall be binding on the parties hereto and their respective successors and permitted assigns . This agreement and the obligations herein may not be assigned without the express written consent of each of the parties hereto which consent may be withheld at the sole discretion of either of the parties hereto . -7- IN WITNESS WHEREOF, the parties have entered into and executed this Agreement on the date and year first written above . CITY OF ELGIN, a municipal NORTHWEST, LLC, an Illinois corporation Limited Liability Company By t>—� By �41� Ed Schock, Mayor Mark Ebache President of Interstate Partners, LLC, Manager Attest : i"- nIV-0-C-0,-ky� Dolonna Mecum, City Clerk RAGREE/NWBUSI .DA 11/3/00 -8- LEGAL DESCRIPTION PARCEL 1 THE EAST 1/2 OF THE SOUTHWEST 1/4 (EXCEPT THE SOUTH 10 CHAINS) AND THE EAST 1/2 OF THE WEST 1/2 OF THE SOUTHWEST 1/4 (EXCEPT 1HC SOUTH 10 CHAINS) ALL IN SECTION 19, TOWNSHIP 42 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT THEREFROM THE PARTS CONVEYED BY DEED RECORDED MAY 19, 1994 AS DOCUMENT 94K041618 AND BY DEED RECORDED SEPTEMBER 4, 1997 AS DOCUMENT 97KO58996) IN THE TOWNSHIP OF DUNDEE, KANE COUNTY, ILLINOIS. PARCEL 2 THAT PART OF THE SOUTHWEST QUARTER OF SECTION 19, TOWNSHIP 42 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF SAID SOUTHWEST QUARTER; THENCE SOUTH 59'11 '59" EAST, ALONG THE NORTH LINE OF SAID SOUTHWEST QUARTER, A DISTANCE OF 1761 . 17 FEET FOR THE POINT OF BEGINNING; THENCE CONTINUING SOUTH 89'11 '59" EAST ALONG SAID NORTH LINE, 208.0 FEET; THENCE ' SOUTH 00'48'01" WEST, 379.13 FEET; THENCE NORTH 89-11 '59" WEST PARALLEL WITH THE NORTH LINE OF SAID SOUTHWEST QUARTER, A DISTANCE OF 208.0 FEET; THENCE NORTH 00'48'01" EAST, 379.13 FEET TO THE POINT OF BEGINNING, IN DUNDEE TOWNSHIP, KANE COUNTY,. ILLINOIS. EXHIBIT, �- LAND FOR NORTAWIM BUSINESS PARK FROM THE CITY OF ELGIN LEGAL DESCRIPTION THAT PART OF THE SOUTHEAST QUARTER OF SECTION 19, TOWNSHIP 42 NORTH,RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN DESCRIBED AS FOLLOWS_ CONLMENCING AT THE NORTHWEST CORNIER OF THE SOUTHWEST QUARTER OF SAID SECTION 19;THENCE NORTH 88"33'19" EAST ALONG TIC NORTH LINE OF SAID SOUTHWEST QUARTER., A DISTANCE OF 2657-73 FEET TO THE NORTHEAST, CORNER OF LANDS CONVEYED TO THE STATE OF ILLINOIS DEPARTMENT OF TRANSPORTATION AS ILLMOIS ROUTE 72 AS DEDICATED BY DOCUNMtiNNT NUMBER 97KO58996 ALSO BEING THE NORTHEAST CORNER OF SAID SOUTHWEST QUARTER; THENCE SOUTH 01°27'33' EAST ALONG THE EAST LINE OF SAID SOUTHWEST QUARTER, A DISTANCE OF 30.47 FEET TO THE POINT OF BKR'ZNTNG, THENCE NORTH 88022'20" EAST, A DISTANCE OF 142.36 1'EET TO A POINT ON A LINE 80.00 FEET WESTERLY OF AND PARALLEL WITH THE EAST LINE OF LANDS CONVEYED TO TITS M-Y OF ELGIN BY DOCUMENT NUMBER 96K081139; THENCE ALONG SAID PARALLEL LINE FOR THE FOLLOWING FOUR (4) COURSES; (1) THENCE SOUTH 01°37'36' EAST, A DISTANCE OF 156.31 FEET TO A PONT OF CURVATURE; (2) THENCE SOUTHERLY ALONG A CURVE CONCAVE WESTERLY HAVING A RADIUS OF 767.50 FEET WITH AN ARC LENGTH OF 266.46 FM TO A POINT OF TANGENCY: (3) THENCE SOUTH 18015'55" WEST. A DISTANCE OP 185.20 FEET TO A POINT ON A NON- TANGENT CURVE; (4) THENCE SOUTHERLY ALONG A CURVE CONCAVE EASTERLY HAVING A RADIUS OF 840.00 FEET WITH A CHORD BEARING OF SOUTH 13038'26" WEST AND AN ARC LENGTH OF 135.60 FEET TO A POINT ON THE EAST LINE OF SAID SOUTHWEST QUARTER; THENCE NORTH 01'2733" WEST ALONG SAID EAST LNT,: A DISTANCE OF 681.20 FEET TO THE POINT OF BEGINNING, CONTAINING 1.593 ACRES OF LAND MORE OR LESS, ALL IN KANE COUNTY,ILLINoIs. F:\CADDk2466.00\5MQL LOT 6$N` EP.DOC dt.ans I D/12J2000 EXHIBIT B 4 EXHIBIT gig l UNSUSDOVAOED � � 1 Y •� \ n[C g"c v vc m I*frA:awe a u1w 19-I-+ 77.2 IV s 01zT3Y E C! Cl Y 4c1� I at*ppC 3 , �I as al 1 y 1 O B � tnl ' � 1 X1 f a w I v co w N 6 y 0 N 8 L EC n OUDIAUNDIUM ,.,e,o.v,,.g�.,� z m L S o E R , L 0 , a*:W,ON F r„w• Galt 12=12-80 300 PARS DOULPAM •.a or iro..w 1� CODlBULTIIYC eft) �b4-oilAtOS00 gCRB UOU NVOWMA 000"■r 1___�� lsa_iaoor oora cop-T 1GnT IDpp TOTAL P.03 EXHIBIT C PRELIMINARY PLAT Puai O eAOaawG CM4PMa • ,• w l OF BEG.—) POINT D S ovow C 40 se.]s(a) _ �- _S O21 I 1 E F 0 U 1 C - ] C a S a 0 A 0) _. _ eB']J'IY'__ I106-aT ___a R _-_—__—__ � Y]]'lo' aaa 11'1 w li.•)'� ITr T--- ,...e,.a�-i�- ~( -- -- - -- -- -- - --.� I� ' PoINT B I I rAatti'e' 1 jsa I I; r�✓ a. +S .a B Ia av SO al 12 9 S. !a x s] x Se eo el e] eS 64 es F NPCF ZONING '¢7 POINT C 135.0, le I .3 s[I = 7 s V _ g ;p1p PORT ZONING tli I }j � 4�i of tV I I a] .1 .a sv sa n .]e » s1 v s] n w ]v ]e ] ]s ]s ] n �. ]] Ir'( 4 € € 44 € 44 € 44 y4rl P I ZONING .I PCF ZONING io ]WJ.i]' .._ a ._..r_..... I POINT A c ____ _ COWNEY GUDMUNDSON LEDER, TE REVISIONS vaaEcr 000 PARK BOULEVARD NORTHWEST EJUSINESS PARK ITASCA, ILurvoIS 80143 —_ — PRELIMINARY PLATELGIN, ILLIN019 0[CONSULTING ENGINEERS (030)P50- _ o cosco er_ B i t*7 ✓C x N al F--( H C� �• F City of Elgin Agenda Item No. t W" i -- ri t7 November 1, 2000 r TO: Mayor and Members of the City Council ECONOMIC GROWTH FROM: Joyce A. Parker, City Manager SUBJECT: Development Agreement For Northwest Business Park PURPOSE The purpose of this memorandum is to present to the Mayor and Members of the City Council a Development Agreement for the Northwest Business Park. BACKGROUND The Developer, Wispark Corporation, is the contract purchaser and developer of the property in the City of Elgin located on State Route 72 and west of Galvin Drive. The site consists of approximately 92 acres of land. The proposed development of the site will consist of an Office/Research/Industrial Subdivision of approximately 69 acres and open space for stormwater management facilities of approximately 23 acres. Due to the fact that this proposed development will result in a substantial increase in the City' s tax revenues and a substantial increase in employment opportunities, the City staff has proposed $250, 000 of development assistance as follows : 1 . The City agrees to convey to the developer 1 . 593 acres of City-owned property immediately adjacent to Galvin Drive and Route 72 ($93, 000) . 2 . Following the construction and acceptance of the extension of a 12-inch water line to Route 72, the City agrees to reimburse the developer an amount not to exceed $117, 000 . 3 . Following the construction and acceptance of the extension of a 10-inch sanitary sewer line to Route 72, the City agrees to reimburse the Developer an amount not to exceed $40, 000 . Northwest Business Park November 1, 2000 Page 2 Upon full build out, there will be approximately 1 . 2 million square feet of new industrial and office buildings in the business park. COMMUNITY GROUPS/INTERESTED PERSONS CONTACTED Staff Development Review Team. FINANCIAL IMPACT Incentives related to this project will be charged to the following funds : Type Account Number Fund Water 381-4000-795 . 92-41 2001 Bond Sale Sanitary Sewer 276-0000-791 . 80-27 Riverboat Lease The above-mentioned expenditures would be paid within 60 days of completion and acceptance of the improvements, which is estimated to be 2001 . EGAL IMPACT None . ALTERNATIVES 1 . Fund the development incentive package as negotiated. 2 . Deny the request for development assistance. RECOMMENDATION Staff recommends that the Mayor and members of the City Council authorize the execution of a development agreement with Wispark Corporation with assistance totaling $250, 000 . ectfully submit ed, Joyce A. Parker City Manager RHM: sp Attachments A FILED FOR RECORD Y1ASE '1'011IN I Y.ILL. 12000 I0284.8 70BEC22 A111: 00 r rid b y : Nwfhwe5+ L.L.C . °` f 8y7 Malden C car �' crrt 3 SuitG 35a v� 5crxtam buv�, IL e ap7q THIS PAGE ADDED TO PROVIDE ADEQUATE SPACE FOR RECORDING INFORMATION AND MICROFILMING C141CAGO TMJt 04SURANCE 04. Kane countY office Geneva,Ilin 60134 Phone 23r;- 50IG000h 02848 (/ ,� _. DEVELOPMENT AGREEMENT This Development Agreement is m de and entered into this `7' day of rJCCt/n 8 /e. 2000, by and bet e the CITY OF ELGIN, an Illinois municipal corporate h reinafter referred to as the "City") and NORTHW 6 n Illinois Limited Liability Company, (hereina r ferred to as "Developer") . WIT T WHEREAS, Developer e Contract Purchaser and Developer of the property ''�`:11 t e City of Elgin located on State Route 72 and t Galvin Drive, consisting of approximately 92 s and, such property being legally described in E i it attached hereto, (hereinafter referred to as the "Subject r erty") ; and WHEREAS, Developer, after consultations and negotiations with the City, has determined to proceed with the development of the Subject Property; and WHEREAS, Developer's proposed development of the Subject Property will consist of an Office/Research/Industrial Subdivision of approximately 69 acres and open space for = stormwater management facilities of approximately 23 acres; and WHEREAS, in order to provide for the continued development of the City including the development of the Subject Property and the ongoing development of the Randall Road corridor the City has agreed to provide certain development assistance; and CNECAGO i'ITL i1' � ftRANCE Co nQ C-ov:rev ,20Do 10284 $ jt J WHEREAS, the development of the Subject Property will result in a substantial increase in the City' s tax revenues and an increase in tax revenues to oth r local taxing districts; and WHEREAS, the development of e Property will result in substantial new employmen t ities in the City; and WHEREAS, the City o i a home rule unit authorized to exercise any w perform any function relating to its government a a- i s; and WHEREAS, the e n nO evelopment initiatives to be provided by the C ' ' c ill encourage the development of the Subject Pr er ai which will result in substantial increases in the C tax base and employment opportunities within the City of Elgin are matters within the government and affairs of the City of Elgin. NOW, THEREFORE, for and in consideration of the mutual promises and undertakings contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1 . That the foregoing recitals are incorporated into this agreement in their entirety. 2 . That Developer shall develop the Subject Property as the Northwest Business Park in accordance with the final plat of subdivision and final engineering plans for the -2- �2D00.;�� IA? s48 • L Northwest Business Park as approved by the City (hereinafter referred to as the "Northwest Business Park Development") . It is understood and agreed that the Northwes Business Park Development when completed shall consist of app o 'mately 1.2 million square feet of completed Office/ � ndustrial Buildings. v 3 . That in consideration-/\Of v is undertaking and completing the development e ject Property with the Northwest Business Park De e p e as provided herein the City agrees to provide the co development assistance to Developer as follows: A. Upo t e e tion of this Agreement the City agrees to cony t Developer by quit claim deed the parcel of land g described on Exhibit B attached hereto and depicted on Exhibit C attached hereto. B. The City is requiring the Developer as part of the Northwest Business Park Development to extend a 12-inch municipal water line from its current location ("Point All on Exhibit D attached hereto) within the easement granted for such purpose along the east boundary of Galvin Drive to a point no less than 10 feet south of the south right-of-way line of Illinois Route 72 ("Point B" on Exhibit D attached hereto) , such waterman extension being hereinafter referred to as the "West Pressure Zone Water Main Extension" . The Developer shall commence and complete construction of such West Pressure Zone Water Main Extension on or before -3- 2000 �S 102848 September 30, 2001 and in accordance with the final engineering plans for same as approved by the City. At such time as the Developer has completed constructi n of, and the City has accepted for public ownership and ma i t nance, the West Pressure Zone Water Main Extension t i agrees to reimburse Developer, within sixty (60) d a e the adoption by the City of the Resolution p a ep e thereof, the lesser amount of (a) the actu ono construction of the West Pressure Zone Water Mai . x n ion, including but not limited to (i) expenditur ctual construction, (ii) surveying and engineeri (iii) legal fees, and (iv) interest on Deve e enditures for such costs and expenditures co ut r the date of each such disbursement at a rate equal o t federal reserve prime rate of interest as published in the Wall Street ,journal, rate changing on the first day of each following month, and (b) One Hundred Seventeen Thousand Dollars ($117, 000) . C. The City is requiring the Developer as part of the Northwest Business Park Development to extend a 10-inch sanitary sewer line from a beginning location ("Point C" on Exhibit D attached hereto) within the easement granted for such purpose along with west boundary of Galvin Drive to a point not less than 10 feet south of the south right-of-way line of Illinois Route 72 ("Point D" on Exhibit D attached z hereto) such sanitary sewer extension being hereinafter referred to as the "Sanitary Sewer Extension" . The Developer -4- i shall complete the construction of the Sanitary Sewer Extension on or before September 30, 2001 and in accordance with the final engineering plans for same as proved by the City. At such time as the Developer has o leted the construction of, and the City has ,arc r public ownership and maintenance, the Sanitary w tension, the City agrees to reimburse Developri , th sixty (60) days after the adoption by the City s ution of acceptance thereof, the lesser amount o a the actual cost of construction of the Sanita { S Line Extension, including but not limited to (i) x e ures for actual construction (ii) surveying an 'n e ng fees, (iii) legal fees, and (iv) interest D e o ' s expenditures for such costs and expenditures co m om the date of each such disbursement at a rate equal to the federal reserve prime rate of interest as published in the Wall Street Journal, rate changing on the first day of each following month, and (b) Forty Thousand Dollars ($40, 000) . 4 . That the parties understand and agree that the economic development assistance being provided by the City to the Developer as set forth herein is expressly contingent upon Developer' s development of the Northwest Business Park Development on the Subject Project as set forth herein. In the event Developer has failed to complete the development of the Subject Property with the Northwest Business Park Development including the construction of approximately 1 .2 -5- z000 4 K 10284 8 MMMMME06 million square feet of completed Office/Research/Industrial buildings on the Subject Property on or before December 31, 2020, the parties understand and agree that veloper shall reimburse the City in full any funds paid to th veloper as provided for in the preceding paragraphs a eof . 5 . That this agreement shall deemed or construed to create an employment, i t v ure, partnership, or other agency relationship be e e ties hereto. 6 . That all noti e other communications hereunder shall be made in i and shall be deemed given if personally delivered, s n overnight courier or mailed P Y by registered or t e m il, return receipt requested, to the parties at/,-, th o wing addresses, or at such other addresses for a a as shall be specified by like notice, and shall be deemed received on the date which said notice is hand delivered or the second business day following the date on which so mailed: TO THE CITY: City of Elgin 150 Dexter Court Elgin, Illinois 60120-5555 Attn: City Manager TO THE DEVELOPER: Northwest, LLC 1847 Walden Office Square, Suite 350 Schaumburg, IL 60074 7 . That the failure by a party to enforce any provision of this agreement against the other party shall not be deemed a waiver of the right to do so thereafter. -6- .2000 K 10.2 8 481 8 . That this agreement may be modified or amended only in writing signed by both parties hereto, or their permitted successors or assigns, as the case may be. 9. That this agreement contains he entire agreement and understanding of the partiesth_ O h respect to the subject matter as set fort V i all prior agreements and understandings hav*hg en ged herein and extinguished hereby. 10 . That this agreen n nd shall be deemed and construed to be a joint a e tive work product of the City and Developer and, s this agreement shall not be construed against e h arty, as the otherwise purported drafter of sam b n ourt of competent jurisdiction in order to resolv nconsistency, ambiguity, vagueness or conflict, if any, in the terms or provisions contained herein. 11 . That this agreement is subject to and shall be governed by the laws of the State of Illinois. Venue for the resolution of any disputes or the enforcement of any rights pursuant to this agreement shall be in the Circuit Court of Kane County, Illinois. 12 . That this agreement shall be binding on the parties hereto and their respective successors and permitted assigns. This agreement and the obligations herein may not be assigned without the express written consent of each of the parties hereto which consent may be withheld at the sole discretion of either of the parties hereto. ?000J� 102848 IN WITNESS WHEREOF, the parties have entered into and executed this Agreement on the date and year first written above. CITY OF ELGIN, a municipal NORTHWEST, LL inois corporation Limited L' i i any By By E 9-chock, Mayor b r of nterstate P t e s, LLC, Manager Attest : Dolonna Mecum, City Clerk RAGREE/NWBUSI . 11/3/00 -8- ZaooK l 02848 LEGAL DESCRIPTION PARCEL 1 THE EAST 1/2 OF THE SOUTHWEST 1/4 (EXCEPT THE SOUTH 10 CHAINS , TH IE SECT(T1/2 OF THE WEST 1/2 OF THE SOUTHWEST 1/4 (EXCEPT 1HE SOUTH 10 CH.,i 19, TOWNSHIP 42 NORTH, RANGE 8 EAST OF THE THIRD PRINCI'� ►r- I CEPT THEREFROM THE PARTS CONVEYED BY DEED RECORDED MAY 19, 0 W T 949041618 AND BY DEED RECORDED SEPTEMBER 4, 1907 AS DOCUMENT 97KOS 9 11 E TOWNSHIP OF DUNDEE, KANE COUNTY. ILLINOIS. PARCEL 2 THAT PART OF THE SOUTHWEST QUARTER OF SE Ctv 12, TOWNSHIP 42 NORTH, RANGE 8 EAST Ik THE TH I RU`;R N P MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE ll-i T CORNER OF SAID SOUTHWEST QUARTER; THENCE SOUTH',851'11 59' EAST, ALONG THE NORTH LINE OF SAID 5OUTHWE5-T-QUARi A DISTANCE OF 1761 .17 FEET FOR THE POINT OFr6 1Ni�IrN£r THENCE CONTINUING SOUTH 89'11 '59" EAST ALONG S 'Ck T}4,LINE, 208.0 FEET; THENCE SOUTH 00'48'01\W- 3 1 ,,FEET; THENCE NORTH 89-11 '59" WEST PARALLEL WI 11 rvlll NORTH LINE OF SAID SOUTHWEST QUARTER, �,DIST 2, 8,0 FEET; THENCE NORTH 00'48'01' EAST, 379.13 EET 0 E'POINT OF BEGINNING, IN DUNDEE TOWNSHIP, KAN TY,. I LINOIS. 1D`aga �' EXHIBIT.... F� 2000K 102848 �� m Y -s LAND FOR NORTHWEST BUSINESS PARK FROM THE CITY OF ELGIN, LEGAL DESCRIPTION THAT PART OF THE SOUTHEAST QUARTER OF SECTION 19, TOWNSHIP 42 NORTH,RANCIE 8 EAST OF THE THaD PRINaPAL MEMIDLAN DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNIER OF T*SOUTHWEST QUARTER OF SAID SECTION'19;THENCE NORTH 88°33'19" rASNG THE NORT'r1 LINE OF SAID SOUTHWEST QUARTER, A DISTANC 't.FEET TO THE NORTHEAST. CORNER OF LANDS CQIvVE : T ATE OF ILLINOIS DEPARTMENT OF TRANSPORTATION AS tfl1Cn'E 72 AS DEINCATED BY DOCUNfE�i T NUMBER 97KO589 I'r"7,NG THE NORTREAST CORNER OF SAID SOUTHWEST SOUTH 01°27'33" EAST ALONG THE EAST LINE 0 �, f ST QUARTER, A DISTANCE OF 30.47 FEET TO THE PO ;� , THENCE NORTH 88°22"2.0" LAST, A DISTANCE OF 142,E A POINT ON A LINE 80,00 FEET WESTERLY OF AND PARALVi ST LINE OF LANDS CONVEYED TO T'rM MY OF EL E NLT11OER %X081139; THENCE ALONG SAID PARALLEL F THE FOLLOWING FOUR (4) COURSES; (1) THENCE SOUTH �1 " , A DISTANCE OF 156.3I FEET TO A PONT OF CURVATURE; (2) �E, SOUTHERLY ALONG A CURVE CONCAVE WESTERLY HA J .�_ I--`M' S OF 767.50 FEET WITH AN ARC LENGTH OF 266.46 INT OF TANGENCY: (3) THENCE SOUTH I8015155" WEST, S �E 18520 FEET TO A POINT ON A NON- TANGENT CURVE; *VNdZ SOLMMRLY ALONG A CURVE CONCAVE EASTERLY HAY' ING A W'S OF 840.M FE)✓T WITH A CHORD BEARING OF SOUTH 131139126111 AN ARC LENGTH OF 135.60 FFET TO A POINT ON THE EAST LINE OF,- 'SOUTHWEST QUARTER:THENCE NORTH 0102733^ WEST ALONG SAID FAST LNE, A DISTANCE OF 681.20 FEET TO THE POINT -r OF BEGINNING, CONTAINING 1.593 ACRES OF LAND MORE OR LESS,ALL IN KANE COUNTY,ILLINoIs. 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