HomeMy WebLinkAbout22-38 Resolution No. 22-38
RESOLUTION
AUTHORIZING EXECUTION OF A TERMINATION OF DEVELOPMENT
AGREEMENT AND MEMORANDUM OF DEVELOPMENT
AGREEMENT WITH CONOR GLOBE ELGIN III LLC
(BUSSE PARKWAY EXTENSION)
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,ILLINOIS,that
Richard G. Kozal, City Manager, be and is hereby authorized to execute a Termination of
Development Agreement and Memorandum of Development Agreement on behalf of the City of
Elgin with Conor Globe Elgin III LLC,a copy of which is attached hereto and made a part hereof by
reference.
s/David J. Kaptain
David J. Kaptain, Mayor
Presented: February 23, 2022
Adopted: February 23, 2022
Omnibus Vote: Yeas: 9 Nays: 0
Attest:
s/Kimberly Dewis
Kimberly Dewis, City Clerk
THIS INSTRUMENT WAS PREPARED BY
AND WHEN RECORDED MAIL TO:
Benjamin Kirschner,Esq.
Sidley Austin LLP
1 South Dearborn Street
Chicago,Illinois 60603
(Space above for Recorder's use only)
TERMINATION OF DEVELOPMENT AGREEMENT AND MEMORANDUM OF
DEVELOPMENT AGREEMENT
This TERMINATION OF DEVELOPMENT AGREEMENT AND MEMORANDUM
OF DEVELOPMENT AGREEMENT (this "Termination") is dated effective as of February 23,
2022, by and between the CITY OF ELGIN, an Illinois municipal corporation (the "City") and
CONOR GLOBE ELGIN III LLC, an Illinois limited liability company, as successor-in-
interest to Edward J. Busse Trust dated April 2, 1987 and Ruth Busse, not personally but as
trustee of the Ruth Busse Trust dated April 2, 1987 ("Owner").
WITNESSETH:
WHEREAS, City and Owner are parties to that certain Development Agreement, dated
as of March 12, 2008 (as the same may be further modified, amended, supplemented, or restated
from time to time, the "Development Agreement"), pursuant to which Owner and City have
certain conveyance, design and construction obligations with respect to certain real property
located in Kane County, Illinois, as more particularly described on Exhibit "A" attached hereto
and made a part hereof by reference and 'incorporation(the"Subject Property");
WHEREAS, the Development Agreement is evidenced by that certain Memorandum of
Development Agreement, dated March 20, 2008, executed by the City, which was recorded on
April 3, 2008, under Document Number 2008KO28421 in the Registry of Deeds of Kane
County,Illinois(as modified, amended,or restated from time to time,the"Memorandum"); and
WHEREAS,the parties mutually desire to terminate the(i)Development Agreement and
(ii)the Memorandum in the Registry of Deeds of Kane County, Illinois.
NOW, THEREFORE, the parties, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, do hereby mutually agree as follows:
278307999
1. The Development Agreement, Memorandum and all respective amendments,
supplements, modifications and memorandums thereof are hereby terminated, released and
canceled and are of no further force or effect.
2. The City and Owner warrant that they have full authority to enter into this
Termination and that the officers or agents executing this Termination as set forth below have
been duly and properly authorized to execute this Termination.
3. This Termination is binding upon the parties hereto and will inure to the benefit of
the parties hereto and their respective successors and assigns.
4. This Termination may be executed in separate counterparts each of which shall be
an original and all of which shall be deemed to be one and the same instrument. Executed
signature pages to this Termination may be delivered by electronic transmission and any such
signature page shall be deemed an original.
[Signatures appear on the following pages. Remainder of page intentionally left blank.]
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IN WITNESS WHEREOF, the parties have executed this Termination by and through their duly
and properly authorized officers to be effective as of the date first above written.
CITY:
CITY OF ELGIN
an ill Iin, u pal corporation
By:
Name: Richard G.Kozal
Title: City Manager
STATE OF Illinois )
)SS
COUNTY OF Kane )
I, the undersigned, a Notary Public in and for the County and State aforesaid, do
hereby certify that Richard G. Kozal, personally known to me to be the City Manager of the CITY
OF ELGIN, an Illinois municipal corporation, and personally known to me to be the same person
whose name is subscribed to the foregoing instrument, appeared before me this day in person and
acknowledged that as such City Manager he/she signed and delivered the said instrument pursuant
to the authority of such City Manager for the uses and purposes therein set forth.
Given under my hand and notarial seal this day of February, 2022.
"OFFICIAL SEAL"
WILLIAM A COGLEY
Notary Public Notary Public,state of Illinois
y Commission Expires Aug 21,202
My Commission Expires: Z— I C)z
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Tennination of Memorandum of Development Agreement
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OWNER:
CONOR GLOBE ELGIN III LLC,
an Illinoi d liab'li company
By: «.
Name: Daniel P.McShane
Its: Authorized Signatory
STATE OFMI l MAC, )
)SS
COUNTY OF C_ )
I, the undersigned, a Notary Public in and for the County and State aforesaid, do
hereby certify that Daniel P. McShane, personally known to me to be the Authorized Signatory of
CONOR GLOBE ELGIN III LLC, an Illinois limited liability company, and personally known to
me to be the same person whose name is subscribed to the foregoing instrument, appeared before
me this day in person and acknowledged that as such Authorized Signatory he/she signed and
delivered the said instrument pursuant to the authority of such Authorized Signatory for the uses
and purposes therein set forth.
Given under my hand and notarial seal this 2-day of qbr ICctrV ,2022•
No Public
My Commission Expires: =1— 2� —
OFFICIAL SEAL
MEGAN E LICCIARDI
NOTARY PUBLIC-STATE OF ILLINOIS
MY CO----- -
MMISSION EXPIRES:09V21i24
Termination of Memorandum of Development Agreement
EXHIBIT A
Legal Description
Parcel 1: (Legal Description of Industrial Property):
THE WEST 112 OF THE SOUTH EAST 1/4 OF SECTION 19, TOWNSHIP 42 NORTH, RANGE 8
EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT THAT PART DESCRIBED AS
FOLLOWS:
COMMENCING AT THE CENTER OF SECTION 19, TOWNSHIP 42 NORTH, RANGE 8 EAST OF
THE THIRD PRINCIPAL MERIDIAN; THENCE EAST ALONG THE CENTER LINE OF SAID
SECTION 947.79 FEET FOR THE POINT OF BEGINNING; THENCE CONTINUING EASTERLY
ALONG THE SAID CENTER LINE, 375.0 FEET TO THE LAST LINE OF THE WEST 1/2 OF THE
SOUTH EAST 1/4 OF SECTION 19; THENCE SOUTHERLY ALONG SAID EAST LINE 1184.83
FEET; THENCE WESTERLY PARALLEL WITH THE EAST-WEST CENTER LINE OF SECTION
19, 375.0 FEET; THENCE NORTHERLY 1184.83 FEET TO THE POINT OF BEGINNING)
ALSO(EXCEPT THAT PART OF THE WEST 1/2 OF THE SOUTHEAST 114 OF SECTION 19,
TOWNSHIP 42 NORTH RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN, KANE
COUNTY,
ILLINOIS, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF THE
SOUTHEAST 1/4 OF SAID SECTION 19; THENCE NORTHERLY, 2612.25 FEET ON AN
ASSUMED BEARING OF NORTH 0 DEGREES 30 MINUTES 13 SECONDS WEST ALONG THE
WEST LINE OF SAID SOUTHEAST 114 TO THE SOUTH RIGHT-OF-WAY LINE OF ILLINOIS
ROUTE 72 AS ESTABLISHED BY DOCUMENT NO. 339017; THENCE NORTH 89 DEGREES 19
MINUTES 43 SECONDS EAST, 222.36 FEET ALONG SAID RIGHT-OF-WAY LINE; THENCE
SOUTH 0 DEGREES 40 MINUTES 17 SECONDS EAST, 156.15 FEET; THENCE SOUTHERLY
294.23 FEET ALONG A TANGENTIAL CURVE CONCAVE TO THE WEST, RADIUS 847.50 FEET,
CENTRAL ANGLE 19 DEGREES 53 MINUTES 31 SECONDS; THENCE SOUTH 19 DEGREES 13
MINUTES 14 SECONDS WEST, 185.20 FEET ALONG TANGENT; THENCE SOUTHERLY 261.63
FEET ALONG A TANGENTIAL CURVE CONCAVE TO THE EAST, RADIUS 760.00 FEET,
CENTRAL ANGLE 19 DEGREES 43 MINUTES 28 SECONDS TO A LINE THAT IS 66.00 FEET
EAST OF, AS MEASURED PERPENDICULAR,AND PARALLEL WITH THE WEST LINE OF SAID
SOUTHEAST 1/4; THENCE SOUTH 0 DEGREES 30 MINUTES 13 SECONDS EAST, 1737,53
FEET ALONG SAID PARALLEL LINE, BEING TANGENT TO THE LAST DESCRIBED CURVE, TO
THE SOUTH LINE: OF SAID SOUTHEAS 1 1/4; THENCE SOUTH 89 DEGREES 35 MINUTES 22
SECONDS WES 1, 66.00 FEET ALONG SAID SOUTH LINE TO THE POIN-1 OF BEGINNING),
AND
ALSO (EXCEPT THAT PART CONVEYED TO PEOPLE OF STATE OF ILLINOIS BY DEED
DOCUMENTS 971<058994 AND 97K058995) IN THE CITY OF ELGIN, KANF COUNTY, ILLINOIS.
MORE:PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF THE SOUTHEAST QUARTER OF SAID
SECTION 19; THENCE NORTH 89 DEGREES 51 MINUTES 36 SECONDS EAST ALONG THE
SOUTH LINE OF SAID SOUTHEAST QUARTER, A DISTANCE OF 66.00 FEET TO THE EAST
RIGHT OF WAY LINE OF GALVIN DRIVE AS DEDICATED BY DOCUMENT 96KO81139 AND THE
POINT OF BEGINNING; THENCE NORTH 00 DEGREES 14 MINUTES 50 SECONDS WEST
ALONG SAID EAST RIGHT OF WAY LINE, A DISTANCE OF 1458.36 FEET:THENCE NORTH 89
DEGREES 45 MINUTES 59 SECONDS EAST, A DISTANCE OF 1266,95 FEET TO THE EAST
LINE OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 19; THENCE
SOUTH 00 DEGREES 03 MINUTES 03 SECONDS EAST ALONG SAID EAST LINE, A DISTANCE
OF 1460.43 FEET TO THE SOUTH LINE OF THE SOUTHEAST QUARTER OF SAID SECTION
19; THENCE SOUTH 89 DEGREES 51 MINUTES 36 SECONDS WEST ALONG SAID SOUTH
LINE, A DISTANCE OF 1261.94 FEET TO THE POINT OF BEGINNING, ALL IN KANE COUNTY,
ILLINOIS,
Parcel 2: (Legal Description of Retail Property):
THE WEST 112 OF THE SOUTH EAST 114 OF SECTION 19, TOWNSHIP 42 NORTH, RANGE 8
EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT THAT PART DESCRIBED AS
FOLLOWS:
COMMENCING AT THE CENTER OF SECTION 19, TOWNSHIP 42 NORTH, RANGE 8 EAST OF
THE THIRD PRINCIPAL MERIDIAN; THENCE EAST ALONG THE CENTER LINE OF SAID
SECTION 947.79 FEET FOR THE POINT OF BEGINNING; THENCE CONTINUING EASTERLY
ALONG THE SAID CENTER LINE, 375.0 FEET TO THE EAST LINE OF THE WEST 1/2 OF THE
SOUTH EAST 1/4 OF SECTION 19; THENCE SOUTHERLY ALONG SAID EAST LINE 1184.83
FEET; THENCE WESTERLY PARALLEL WITH THE EAST-WEST CENTER LINE OF SECTION
19, 375.0 FEET;THENCE NORTHERLY 1184.83 FEET TO THE POINT OF BEGINNING)
ALSO(EXCEPT THAT PART OF THE WEST 112 OF THE SOUTHEAST 114 OF SECTION 19,
TOWNSHIP 42 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN, KANE
COUNTY,
ILLINOIS,DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF THE
SOUTHEAST 114 OF SAID SECTION 19; THENCE NORTHERLY, 2612.25 FEET ON AN
ASSUMED BEARING OF NORTH 0 DEGREES 30 MINUTES 13 SECONDS WEST ALONG THE
WEST LINE OF SAID SOUTHEAST 114 TO THE SOUTH RIGHT-OF-WAY LINE OF ILLINOIS
ROUTE 72 AS ESTABLISHED BY DOCUMENT NO. 339017: THENCE NORTH 89 DEGREES 19
MINUTES 43 SECONDS EAST. 222.36 FEET ALONG SAID RIGHT-OF-WAY LINE; THENCE
SOUTH 0 DEGREES 40 MINUTES 17 SECONDS EAST, 156.15 FEET; THENCE SOUTHERLY
294,23 FEET ALONG A TANGENTIAL CURVE CONCAVE TO THE WEST, RADIUS 847.50 FEET,
CENTRAL ANGLE 19 DEGREES 53 MINUTES 31 SECONDS; THENCE SOUTH 19 DEGREES 13
MINUTES 14 SECONDS WEST, 185,20 FEET ALONG TANGENT; THENCE SOUTHERLY 261.63
FEET ALONG A TANGENTIAL CURVE CONCAVE TO THE EAST, RADIUS 760.00 FEET,
CENTRAL ANGLE 19 DEGREES 43 MINUTES 28 SECONDS TO A LINE THAT IS 66.OD FEET
EAST OF, AS MEASURED PERPENDICULAR, AND PARALLEL WITH THE WEST LINE OF SAID
SOUTHEAST 1/4; THENCE SOUTH 0 DEGREES 30 MINUTES 13 SECONDS EAST, 1737,53
FEET ALONG SAID PARALLEL LINE, BEING TANGENT TO THE LAST DESCRIBED CURVE, TO
THE SOUTH LINE OF SAID SOUTHEAST 1/4; THENCE SOUTH 89 DEGREES 35 MINUTES 22
SECONDS WEST, 66 00 FEET ALONG SAID SOUTH LINE TO THE POINT OF BEGINNING),
AND
ALSO (EXCEPT THAT PART CONVEYED TO PEOPLE: OF STATE OF ILLINOIS BY DEED
DOCUMENTS 97KO58994 AND 97K058995) IN THE CITY OF ELGIN, KANE COUNTY, ILLINOIS.
EXCEPTING THEREFROM THE FOLLOWING DESCRIBED PARCEL:
COMMENCING AT THE SOUTHWEST CORNER OF THE SOUTHEAST QUARTER OF SAID
SECTION 19; THENCE NORTH 89 DEGREES 51 MINUTES 36 SECONDS EAST ALONG THE
SOUTH LINE OF SAID SOUTHEAST QUARTER, A DISTANCE OF 66.00 FEET TO THE EAST
RIGHT OF WAY LINE OF GALVIN DRIVE AS DEDICATED BY DOCUMENT 96KO81 139 AND THE
POINT OF BEGINNING; THENCE NORTH 00 DEGREES 14 MINUTES 50 SECONDS WEST
ALONG SAID EAST RIGHT OF WAY LINE, A DISTANCE OF 1458.36 FEET 1"HENCE NORTH 89
DEGREES 45 MINUTES 59 SECONDS EAST, A DISTANCE OF 1266.95 FEET TO THE EAST
LINE OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 19; THENCE
SOUTH 00 DEGREES 03 MINUTES 03 SECONDS EAST ALONG SAID EAST LINE, A DISTANCE
OF 1460.43 FEET TO THE SOUTH LINE OF THE SOUTHEAST QUARTER OF SAID SECTION
19; THENCE SOUTH 89 DEGREES 51 MINUTES 36 SECONDS WEST ALONG SAID SOUTH
LINE, A DISTANCE OF 1261.94 FEET TO THE POINT OF BEGINNING, ALL IN KANE COUNTY,
ILLINOIS,
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
COMMENCING AT THE SOUTHWEST CORNER OF THE SOUTHEAST QUARTER OF SAID
SECTION 19; THENCE NORTH 89 DEGREES 51 MINUTES 36 SECONDS EAST ALONG THE
SOUTH LINE OF SAID SOUTHEAST QUARTER, A DISTANCE OF 66.00 FEET TO THE EAST
RIGHT OF WAY LINE OF GALVIN DRIVE AS DEDICATED BY DOCUMENT 96KO81139: THENCE
NORTH 00 DEGREES 14 MINUTES 50 SECONDS WEST ALONG SAID EAST RIGHT OF WAY
LINE, A DISTANCE OF 1458.36 FEET TO THE POINT OF BEGINNING; THENCE CONTINUING
ALONG SAID EAST RIGHT CF WAY LINE FOR THE FOLLOWING 5 CALLS: 1)THENCE NORTH
00 DEGREES 14 MINUTES 50 SECONDS WEST, A DISTANCE OF 279.60 FEET TO A
TANGENTIAL CURVE; 2) THENCE NORTHERLY 261.63 FEET ALONG A TANGENTIAL CURVE
CONCAVE TO THE EAST, RADIUS 760.00 FEET, CENTRAL ANGLE 19 DEGREES 43 MINUTES
28 SECONDS; 3) THENCE :NORTH 19 DEGREES 28 MINUTES 37 SECONDS EAST, 185.20
FEET ALONG TANGENT; 4) THENCE NORTHERLY 294,23 FEET ALONG A TANGENTIAL
CURVE CONCAVE TO THE WEST, RADIUS 847.50 FEET, CENTRAL ANGLE 19 DEGREES 53
MINUTES 31 SECONDS; 5) THENCE NORTH 00 DEGREES 24 MINUTES 54 SECONDS WEST,
A DIS LANCE OF 129.15 FEET TO THE SOUTHERLY RIGHT OF WAY LINE OF ILLINOIS ROU I E
72 AS DEDICATED PER DOCUMENT 97KO58994 AND 97K058995; THENCE NORTH 89
DEGREES 35 MINUTES 11 SECONDS EAST ALONG SAID SOUTHERLY RIGHT OF WAY LINE,
A DISTANCE OF 739.40 FEET TO A POINT ON A LINE 375.00 FEET WEST OF AND PARALLEL
WITH THE WEST HALF OF THE SOUTHEAST QUARTER OF SAID SECTION 19; THENCE
SOUTH 00 DEGREES 03 MINUTES 03 SECONDS ALONG SAID PARALLEL LINE, A DISTANCE
OF 1130.45 FEET; THENCE SOUTH 89 DEGREES 45 MINUTES 59 SECONDS WEST, A
DISTANCE OF 69195 FEET TO THE POINT OF BEGINNING, IN KANE COUNTY, ILLINOIS.
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February 23 2022
City of Elgin
150 Dexter Court
Elgin,Illinois 601.20
Attn:Richard G.Kozal,City Manager
Dear Mr.Kozal:
This letter is executed and delivered in connection with that certain Termination of Memorandum
of Development Agreement, dated as on or around the date hereof,by and between the City Of Elgin, an
Illinois municipal corporation (the "C ') and Conor Globe Elgin III LLC, an Illinois limited liability
company, as successor-in-interest to Edward J. Busse Trust dated April 2, 1987 and Ruth Busse, not
personally but as trustee of the Ruth Busse Trust dated April 2, 1987("Owner"),to be recorded on or around
the date hereof, in the Registry of Deeds of Kane County (the "Termination"), terminating that certain
Memorandum of Development Agreement, dated March 20, 2008, executed by the City, which was
recorded on April 3, 2008, under Document Number 2008KO28421 in the Registry of Deeds of Kane
County,Illinois(as modified,amended,or restated from time to time,the"Memorandum")and that certain
Development Agreement, dated as of March 12, 2008,by and between the City and Owner (as the same
may be further modified, amended, supplemented, or restated from time to time, the "Development
AgL eement").
Notwithstanding the City's agreement to terminate the Memorandum and the Development
Agreement pursuant to the Termination,Owner hereby acknowledges and agrees that it shall complete the
restoration(topsoil, seeding and erosion control blanket) of two (2) areas of approximately four hundred
(400)square feet each,as outlined in the punchlist provided by the City to Owner.
This letter may be executed in any number of counterparts, each of which shall be deemed an -
original,but all of which together shall constitute one and the same instrument. Executed signature pages
to this letter may be delivered by electronic transmission and any such signature page shall be deemed an
original.
Please indicate your agreement with the foregoing by executing this letter where indicated below
and returning it to the Owner's attorney by electronic mail at bkirschner@sidley.com.
Sincerely,
CONOR GLOBE ELGIN III LLC,
an Illinois limited liability company
By: ,..
Name: Daniel PA&Shanj
Its:Authorized Signatory
279309878
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ACCEPTED AND AGREED TO THIS �-3 DAY OF FEBRUARY,2022.
CITY OF ELGIN,
an Illinois municipal corporation
ow
By:
Na the: Richard G.Kozal
Title: City Manager
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