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HomeMy WebLinkAbout96-281 I 6 Resolution No. 96-281 RESOLUTION AUTHORIZING EXECUTION OF AN AGREEMENT WITH AMOCO OIL COMPANY FOR DEVELOPMENT OF A PORTION OF THE DUNDEE/SUMMIT TIF DISTRICT BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that Kevin Kelly, Mayor, and Dolonna Mecum, City Clerk, be and are hereby authorized and directed to execute an agreement on behalf of the City of Elgin with Amoco Oil Company for development of a portion of Dundee/Summit TIF district, a copy of which is attached hereto and made a part hereof by reference. s/ Kevin Kelly Kevin Kelly, Mayor Presented: October 9, 1996 Adopted: October 9, 1996 Omnibus Vote: Yeas 7 Nays 0 Attest: s/ Dolonna Mecum Dolonna Mecum, City Clerk This Agreement (the "Agreement") made and entered into this 9th day of October , 1996, by and between the City of Elgin, a municipal corporation, (the "City") and Amoco Oil Company, a Maryland Corporation, ("Amoco") . WITNESSET H: WHEREAS, the City has undertaken a program to cause the redevelopment of a certain area at the southwest quadrant of Summit Street and Dundee Avenue (the "Dundee-Summit Redevelopment Project Area" ) pursuant to the Tax Increment Allocation Redevelopment Act (the "Act") , 65 ILCS 5/11-74.4-1, et seq. ; and WHEREAS, Amoco is the owner of certain property at the southwest corner of Summit Street and Dundee Avenue (the "Amoco Property") located within the Dundee-Summit Redevelopment Project Area; and WHEREAS, the City has initiated certain eminent domain proceedings to acquire Amoco' s Property for its redevelopment project purposes pursuant to Case No. 91 ED 009 filed on March 26, 1991 in the Circuit Court of Kane County, Illinois (the "Eminent Domain Proceedings") ; and WHEREAS, Amoco desires to develop a new automobile service station and convenience store at the southeast corner of Summit Street and Dundee Avenue in substantial conformance with the Amoco/Split Second Development Plan, title page dated October 3, 1996, a copy of which is attached hereto as Exhibit 1 and which is 9/26/96 also referenced in Exhibit D of this Agreement, Exhibit D being more fully described in Article III hereof; and WHEREAS, Amoco and the City desire to enter into this Agreement in settlement of the Eminent Domain Proceedings whereby the City and Amoco shall exchange certain real estate (the "Land Exchange") and Amoco shall develop a new automobile service station and convenience store in accordance with the Amoco Site Plan and the Landscape Plan, as part of the City' s plan for development of a new neighborhood shopping center in the Dundee-Summit Redevelopment Project Area; NOW, THEREFORE, for and in consideration of the mutual promises, covenants, terms and conditions set forth herein, the parties agree as follows: ARTICLE I LAND EXCHANGE Section 1.1 Amoco Exchange Property: Amoco shall convey the real estate legally described on Exhibit A attached hereto (the "Amoco Exchange Property") to the City at the closing of the Land Exchange with the City. The City represents and agrees that the Amoco Exchange Property is dedicated for use as future right-of-way for the improvement and widening of Summit Street and that Amoco shall have direct access to/from Summit Street as it now exists or as it may exist as widened in the future. Section 1.2 City Exchange Property: The City shall convey the real estate legally described on Exhibit S attached hereto (the "City Exchange Property") to Amoco Oil Company, a Maryland corporation, at the closing of the Land Exchange with Amoco. 2 - 9/26/96 ' Section 1.3 Amoco Payment: Amoco shall pay the sum of Ten Thousand Five Hundred Dollars ($10, 500 . 00) to the City at the closing of the Land Exchange. Section 1.4 Delivery of Title: At the closing, Amoco and the City shall deliver good and merchantable title to the respective Exchange Properties (collectively, the Amoco Exchange . Property and the City Exchange Property described on Exhibits A and B) described above by recordable warranty deed, subject only to: (a) public and utility easements of record, if any; (b) environment laws and regulations, if any; (c) special taxes or assessments for improvements not yet completed; (d) installments not due at the date of closing of any special taxes or assessments for improvements heretofore completed; (e) general taxes for 1996 and subsequent years (collectively referred to herein as the "Permitted Exceptions" ) . Section 1.5 Evidence of Title: (a) Each party shall, within thirty (30) days from the date hereof, deliver to the other party a current title commitment from Chicago Title Insurance Company for an ALTA owner' s title insurance policy covering title of Amoco and the City, respectively, to the Amoco Exchange Property and the City Exchange Property. The aforesaid commitments shall show title in the intended grantor subject only to: (i) the Permitted Exceptions; (ii) the usual exclusions and exceptions contained in standard title insurance policies; and, (iii) liens or encumbrances of a definite or ascertainable amount which may be - 3 - 9/26/96 removed by the payment of money at the time of closing and which shall be so removed by the respective grantor at such time . (b) Each party shall, within thirty (30) days after receiving said title commitment, deliver to the other party a written statement of any objection to the other party' s title. In the event that the respective transferor does not receive transferee' s written statement of objections within such thirty (30) day period, it shall be conclusively presumed that the title is satisfactory to transferee and that transferee has waived all objections to title, if any. In the event that there are objections to title, the respective transferor shall be allowed thirty (30) days, or such longer period as may be agreed by the parties, to cure such objections, and should such objections not be cured or waived within such period, this Agreement shall thereafter be terminated and void and neither party shall have any further liability, duties or rights thereunder. (c) At closing, each party shall cause to be delivered to the other an ALTA owner' s title insurance policy in accordance with such commitment . The title policy shall be conclusive evidence of good and merchantable title as therein shown as to all matters insured by the policy subject only to the exceptions therein stated. (d) Neither party is obligated to provide a title policy including so called "extended coverage" over the general standard printed exceptions contained in the policies . - 4 - 9/26/96 (e) Amoco shall pay for and provide the title work covering the Amoco Exchange Property, and the City shall pay for and provide the title work covering the City Exchange Property; provided, however, such costs shall be limited to the minimum dollar amount of title insurance of $10 , 000 . 00, and the cost of any additional title insurance or of extended coverage over the general standard printed exceptions contained in the policies shall be paid for by the party requesting the same. Section 1. 6 Surveys: Amoco has provided the City with a boundary survey of the Amoco Exchange Property, and a boundary survey of the City Exchange Property. No further surveys shall be required prior to the Closing. Section 1.7 Environmental Assessment: (a) The City' s obligation to close hereunder shall be subject to the City, at City' s sole cost and expense, inspecting or causing an inspection to be made by qualified professionals on the City' s behalf, of the Amoco Exchange Property, including at the City' s option, environmental inspections or tests for hydrocarbons or for any other toxic or hazardous substances . Amoco shall cause the boundary of the Amoco Exchange Property to be staked for this purpose. The City, its agents or employees may enter upon the Amoco Exchange Property for the purpose of making such inspections and tests; provided, however: (i) that such inspections and tests are scheduled with Amoco, which shall have the right to have a representative present at all times during such inspections and tests performed by or for the City; (ii) that the results of such 5 - 9/26/96 tests shall be confidential and shall not be reproduced or disclosed by the City to anyone without the written consent of Amoco; (iii) that such inspections and tests shall not be conducted in such a manner as to interfere with business operations on the Amoco Property; and, (iv) that the City shall promptly repair any and all damages to the Amoco Property caused by such activities . Such inspection, if any, shall be completed within thirty (30) days of the date of this Agreement . (b) Amoco' s obligation to close hereunder shall be subject to Amoco, at Amoco' s sole cost and expense, inspecting or causing an inspection to be made by qualified professionals on Amoco' s behalf, of the City Exchange Property, including at Amoco' s option, environmental inspections or tests for toxic or hazardous substances . Amoco, its agents or employees may enter upon the City Exchange Property for the purpose of making such inspections and tests; provided, however: (i) that such inspections and tests are scheduled with the City, which shall have the right to have a representative present at all times during such inspections and tests performed by or for Amoco; (ii) that the results of such tests shall be confidential and shall not be reproduced or disclosed by Amoco to anyone without the written consent of the City; (iii) that such inspections and tests shall not be conducted in such a manner as to interfere with municipal operations on the City Exchange Property; and, (iv). that Amoco shall promptly repair any and all damages to the City Exchange Property caused by such - 6 - 9/26/96 activities . Such inspection, if any, shall be completed within thirty (30) days of the date of this Agreement . (c) In the event such inspections disclose conditions unsatisfactory to Amoco or the City, in their sole discretion, and such party so notifies the other party in writing within forty-five (45) days from the date hereof, then this Agreement shall become null and void. In the event neither party receives such notice from the other party within such period, it shall be conclusively presumed that the parties have satisfied or waived this contingency. In the event that the parties proceed to closing as to the City Exchange Property, but the City notifies Amoco within the time provided herein that it is not satisfied with the environmental conditions on the Amoco Exchange Property, this agreement shall not be null and void, but Amoco agrees, upon the City' s written request, to grant an easement to the City for right- of-way purposes and to subsequently convey title to the City at such time as the City is satisfied with the environmental conditions of such property. Section 1. 8 Removal of Improvements: Amoco has removed all improvements from the Amoco Property, including the underground storage tanks and product lines that were located on the Amoco Property. Any and all removal of improvements shall be done in complete compliance with any and all Environmental Laws as defined in Section 2 . 1. - 7 - 9/26/96 Section 1.9 Condition of Amoco Exchange Property: (a) The City acknowledges and agrees : (i) that the Amoco Property, including the Amoco Exchange Property, has been used as a retail gasoline station; (ii) that the City is relying solely on its own judgment in completing the acquisition of the Amoco Exchange Property; and, (iii) that the City is acquiring the Amoco Exchange Property with all faults on the date of Closing, except as set forth in this Agreement . (b) Amoco shall address hydrocarbon contamination on the Amoco Exchange Property as provided in Article II of this Agreement . (c) After closing, the City shall be responsible for compliance with all environmental laws and regulations relating to or resulting from the City' s use of the Amoco Exchange Property; provided, however, that Amoco will continue to address hydrocarbon contamination on said property as provided in Article II of this Agreement . Section 1.10 The Closing: (a) Provided that zoning of the Amoco new site has been approved as provided in Article III, the Land Exchange shall be closed on October 31, 1996, or on the date, if any, to which such time is advanced or extended by mutual agreement of the parties (the "Closing" ) If the City is not yet satisfied with the condition of the Amoco Exchange Property pursuant to Section 1 .7 hereof, the Closing shall proceed as to the City Exchange Property only, provided Amoco is satisfied with the environmental condition - 8 - 9/26/96 of the City Exchange Property. The Closing shall take place at the office of Chicago Title & Trust Company, or such other location as may be mutually agreed to by the parties . (b) At the election of either the City or Amoco, the Closing shall be effected through an escrow with Chicago Title & Trust Company, with the title insurance company acting as escrow agent for both parties in accordance with the general provisions of the usual form Deed and Money Escrow Agreement then in use by Chicago Title & Trust Company, with such special provisions inserted in the Escrow Agreement as may be required to conform with this Agreement . The cost of the escrow shall be divided equally between the City and Amoco . (c) At Closing, Amoco shall deliver to the City with respect to the Amoco Exchange Property, and the City shall deliver to Amoco with respect to the City Exchange Property, the following documents : (i) Duly executed warranty deeds conveying title to the applicable real property and subject only to the Permitted Exceptions . (ii) Any documents necessary to satisfy the reporting requirements of the Tax Reform Act of 1986 . (iii) Non-foreign affidavits in accordance with Section 1445 of the Internal Revenue Code . (iv) Affidavits of Title in customary form. (v) ALTA Statements in duplicate. (vi) Plat Act Affidavits, if necessary. - 9 - 9/26/96 (vii) Real Estate Transfer Declarations . (viii) Stipulation to Dismiss the Eminent Domain Proceedings, without prejudice. (ix) Any and all other documents, not inconsistent with this Agreement, which are customary or are necessary to comply with the terms of this Agreement . ARTICLE II ENVIRONMENTAL REMEDIATION Section 2 .1 Environmental Laws: As used in this Article, "Environmental Laws" shall mean all federal, state and local statutes, ordinances, rules and regulations relating to, regulating in any manner, or imposing liability or standards in connection with petroleum, petroleum products, underground storage tanks ( "USTs" ) or hydrocarbon contamination related thereto. The City represents that there are no such City of Elgin statutes, ordinances, rules and regulations. -The City further represents that, to the best of its knowledge, and without specific inquiry there are no other local governmental statutes, ordinances, rules or regulations currently in effect and applicable to the Amoco Property within the meaning of "Environmental Laws" as defined herein. Section 2 .2 Hydrocarbon Contamination: The parties acknowledge the existence of hydrocarbon contamination on the Amoco Property, the City Exchange Property and adjacent real property included in the Dundee Summit Redevelopment- evelo ment Project Area as shown in Exhibit C. Amoco further represents that it has reported to the - 10 - 9/26/96 Illinois Environmental Protection Agency the release of petroleum or petroleum products from the Amoco Property as required by Environmental Laws and that it has undertaken all activities required by the Illinois Environmental Protection Agency pursuant to Environmental Laws . Amoco further represents that, to the best of its knowledge, Amoco is in full compliance with all applicable Environmental Laws relating to the Amoco Property. Amoco makes no further representations regarding the condition of the Amoco Property or adjacent real property and makes no warranties whatsoever regarding the condition of such property, including but not limited to warranties of merchantability or fitness for a particular purpose . Section 2 .3 Assessment and Remediation: (a) The City and Amoco acknowledge that additional assessments or diagnostic measures may be required to be performed upon the Amoco Property, the City Exchange Property and real property adjacent thereto included in the Dundee-Summit Redevelopment Project Area (Exhibit C) to determine and to design and implement a reasonable and cost effective plan for remediation of hydrocarbon contamination, and that such assessments and remediation activities may be disruptive (but not unreasonably disruptive) of the City' s use and occupancy of the Amoco Exchange Property and of the development, use and occupancy of adjacent real property included in the Dundee-Summit Redevelopment Project Area in accordance with the development plans approved by the City for - 11 - 9/26/96 the area, and that such remediation activities may continue for an indefinite period of time. (b) Amoco agrees to and shall perform reasonable and cost effective assessment and remediation measures to address hydrocarbon contamination on the Amoco Property, the City Exchange Property and adjacent real property included in the Dundee-Summit Redevelopment Project Area caused by Amoco as required by the Illinois Environmental Protection Agency ( "IEPA" ) and the Environmental Laws all and in compliance with applicable Environmental Laws until such time as no further remediation is required from Amoco by the Environmental Laws and the IEPA; provided, however, that the City and its grantees, successors and assigns, including successor owners of adjacent real property included in the Dundee-Summit Redevelopment Project Area, shall grant Amoco the right to enter onto the Amoco Exchange Property and the adjacent real property included in the Dundee-Summit Redevelopment Project Area to perform Amoco' s plan for remediation of hydrocarbon contamination, and they shall not take any action or omit to take any action that will make Amoco' s remedial work significantly more difficult or that would significantly increase the cost or extend the time to complete the remedial work. (c) In the event it is necessary in connection with Amoco' s remediation activities hereunder for Amoco to install or construct any improvements, fixtures or personal property on the Amoco Exchange Property, or on property adjacent to the Amoco New Site and included in the Dundee-Summit Redevelopment Project Area, Amoco - 12 - 9/26/96 agrees to provide plans to the City with sufficient details to show the general location, nature and extent of such improvements, fixtures or personal property Amoco intends to install or construct . Thereafter, the City with respect to the Amoco Exchange Property, and the City or Redeveloper (as hereinafter described) with respect to adjacent property in the Dundee-Summit Redevelopment Project Area, may submit written comments to the Illinois Environmental Protection Agency regarding such remediation plans . (d) Notwithstanding the foregoing, the City desires to complete the Closing, to perform this Agreement and to cooperate with Amoco in the performance of assessment and remediation activities . Section 2 .4 Indemnity: Amoco agrees to indemnify and hold harmless the City and City' s grantees, successors and assigns (the "Indemnified Parties" ) from and against all claims, demands, damages, losses, judgments, penalties and liabilities which arise as a result of any action to enforce applicable Environmental Laws resulting from the presence of hydrocarbon contamination of the Amoco Property or adjacent real property included in the Dundee- Summit Redevelopment Project Area caused by Amoco' s use of the Amoco Property prior to the Closing; provided, however: (a) that Amoco' s indemnity shall be limited to remediation costs actually incurred by or imposed upon Indemnified Parties as a result of such enforcement action, (b) that Indemnified Parties shall promptly notify Amoco and provide to Amoco copies of all notices received by - 13 - 9/26/96 10/04/70 1G.U7 rcr K,Oei Lnw urr i1.c.7 -7 oti rJJl.JUUJ rvu.oGG ruuy s Indemnified Parties pertaining to any such enforcement actions, and (c) that Indemnified Parties shall incur no costs or expenses for remediation without the prior written consent of Amoco, which shall not be unreasonably withheld. Section 2.5 Indemnity for Right of Entry: Amoco hereby agrees to indemnify and hold harmless the City, and City's grantees, successors and assigns from and against any and all claims, demands, damages, losses, judgments, penalties and liabilities for property damage, personal injury or death which arise as a result of Amoco, or its agents, undertaking activities on the Amoco Exchange Property or adjacent real property included in the Dundee-Summit Redevelopment Project Area pursuant to a right of entry granted as provided in Section 2.3 (b) hereof for site assessment or remediation activities. ARTICLE III DEVELOPMENT OF AMOCO NEW SITE Section 3.1 City Zoning Approval: This Agreement is subject to and contingent upon the City's final approval of the proposed zoning ordinance attached hereto as Exhibit D, including the Amoco/Split Second Development Plan referenced therein and attached hereto as Exhibit 1 of this Agreement. It is understood and agreed, however, that the Mayor and City Council have sole and complete legislative discretion to approve or disapprove such ordinance. If approved by the Mayor and City Council of the City of Elgin, the City' s final approval for purposes of the Agreement shall be expressed by passage and approval of the Zoning Ordinance attached hereto as Exhibit D, which shall satisfy said contingency. 14 - 9/26/96 Section 3.2: Development of New Amoco Site: Provided the City Council has finally approved the Amoco/Split Second Development Plan as set forth in Section 3 .1, Amoco agrees to improve and landscape the Amoco New Site in substantial conformance with the Amoco/Split Second Development Plan, title page dated October 3, 1996, a copy of which attached hereto as Exhibit 1, within! (i) two (2) years after the Closing, or (ii) nine (9) months after substantial construction begins on the neighborhood shopping center within the Dundee-Summit Redevelopment Project Area generally depicted on Exhibit C, whichever occurs last. Amoco shall have discretion to commence its new site improvements at an earlier date. The City shall promptly process and issue all building permits required for construction of the Amoco/Split Second Development. If the City determines that additional parking spaces are reasonably needed to provide off-street customer parking for said neighborhood shopping center, Amoco agrees to grant a non-exclusive easement for the construction and maintenance of not more than eight (8) parking spaces at the southwest corner of the New Amoco Site (as generally illustrated on the Amoco/Split Second Development Plan) , subject to reasonable terms and conditions to be set forth within such grant. ARTICLE IV EMINENT DOMAIN PROCEEDINGS 4.1 Dismissal of Eminent Domain Proceedings: The Eminent Domain Proceedings shall remain inactive but pending until the Closing_ Within thirty (30) days after the Closing, the City shall cause the Eminent Domain Proceedings to be dismissed without - 15 - 9/26/96 1 prejudice. In the event the Eminent Domain Proceedings are dismissed by the City pursuant to this Agreement, Amoco hereby waives any right of recovery of expenses, fees (including attorneys' fees) and costs arising by statute or otherwise . ARTICLE V NOTICE AND OTHER PROVISIONS 5 .1 Termination: This Agreement shall not be terminated by either party except as expressly authorized herein or by mutual written agreement of the parties, or except as otherwise authorized by law. 5 .2 Notices: All notices required or sent hereunder shall be in writing and delivered in person, by messenger or other express delivery service, or by U.S . Mail Certified, Return Receipt requested to the address of the other party as set forth below, or to such other address as the parties may from time to time designate . To the City: With a copy to: City of Elgin Keith A. Spong 150 Dexter Court Brady, McQueen, Martin, Elgin, IL 60120-5555 Collins & Jensen Attn: City Manager 2425 Royal Boulevard P. O. Box 807 Elgin, IL 60120 To Amoco: With a copy to: Amoco Oil Company Peter D. Coblentz 200 East Randolph Dr. Rosenthal, Murphey, Chicago, IL 60601 Coblentz & Janega Attn: Joanne S . Rogers Suite 1624 Mail Code 1405B 30 N. LaSalle St . Chicago, IL 60602 - 16 - 9/26/96 5 .3 Covenants to Survive Closing: Any covenant or provision hereof which by its nature requires observance or performance after the Closing shall survive the delivery of the deeds and shall continue in full force and effect . 5 .4 Integration: This Agreement and Exhibits A through E attached hereto contain the entire understanding and agreement between the parties hereto relative to the subject matter hereof. No representations or statements, other than those expressly set forth herein, were relied upon by the parties in entering into this Agreement . No modification, waiver of, addition to, or deletion from the terms of this Agreement shall be effective unless reduced to writing and signed by the parties . 5 .5 Assignments: Except as otherwise provided herein, this Agreement may not be assigned by either party hereto without the prior written consent of the other party. 5 . 6 Time of the Essence: Time is of the essence of this Agreement, and in case either party shall fail to perform the agreements on such party' s part to be performed, at the time fixed for the performance of such respective agreements by the terms hereof, the other party, at the election of such party, may terminate this Agreement by written notice to the other party. 5 .7 Binding Effect: It is expressly understood and agreed that this Agreement shall be binding upon, and inure to the benefit of the parties hereto and their respective heirs, representatives, successors and assigns from and after its execution by the duly authorized representatives of both the City and Amoco. - 17 - 9/26/96 " 5 . 8 Remedies: In the event of a material default hereunder, the non-defaulting party shall be entitled to pursue any and all available remedies at law or in equity. In the event any action is filed to enforce or recover under any provision of this Agreement, the prevailing party in such suit shall be entitled to recover reasonable attorneys' fees and costs incurred in such action. IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written. CITY OF ELGIN AMOCO OIL COMPANY By: By: Title : `4- 4, .,- Title: ATTEST: A2_,ce City Clerk F:\&MCJ\AMOCO\S19564\ELGN9-26.AGM - 18 - 9/26/96 • PLAT OF SURVEY (AMOCO EXCHANGE PROPERTY "EXHIBIT A") 10/ IAT PART OF LOT 1 IN BABBITT'S ADDITION TO ELGIN (BEING A SUBDIVISION OF BLOCK 25 OF P. J. 1BALL JUNIOR'S 32D ADDITION TO ELCCIN), AS PER PLAT THEREOF RECORDED IN THE OFFICE OF THE CO2DE2 OF DEEDS OF KANE COUNTY, ILLINOIS ON DECEMBER 19 1881, AS DOCUMENT * 17168, ALL IN NE COUNTY, ILL.WOIS. BOUNDED AND DESCRIBED AS FOLLOWS: BEGINNING AT THE NORTHEAST CORNEA SAIL LOT 1; THENCE 5.33-42'-07nW, ALONG THE NORTHWESTERLY 21QHT-OF-WAY LINE OF DUNDEE rENUE, FOR A DISTANCE OF 73.47 FEET TO A POINT; THENCE N.30-12'-04-W., FOR A DISTANCE 36.01 FEET TO A POINT ON A LINE 30.00 FEET SOUTH OF AND PARALLEL WITH THE SOUTH :IHT-OF-WAY LINE OF SUMMIT AVENUE; THENCE N.90-00'00-W_, ALONG THE LAST DESCRIBED 4E, FOR A DISTANCE OF 130.95 FEET TO A POINT ON THE WESTERLY LINE OF SAID LOT 1; IENCE N.�20'-11'1= ALONG THE LAST DESCRIBED LINE, FOR A DISTANCE OF 30.18 FEET THE NORTHWEST CORNER OF SAID LOT 1; THENCE N.90-00'-00-E., ALONG, THE NORTH LINE SAID LOT 1. FOR A DISTANCE OF 186.50 FEET TO THE POINT OF SEINNIK, ALL IN LANE UNTY. ILLINOIS. • r PLAT OF SURVEY (CITY EXCHANGE PROPERTY "EXHIBIT B') THOSE_ PARTS OF LOTS 3, 4, 5, 12 AND 13, TOGETHER WITH A PART OF SENECA STREET (TO BE. VACATED), ALL OF THE ABOVE TAKEN AS A TRACT, IN BABBITT'S ADDITION TO ELCIN (BEING A SUBDIVISION OF BLOCK 25 OF P. J. KIMBALL JUNIOR'S SUBDIVISION 320 ADDITION TO ELGIN), AS PER PLAT THEREOF RECORDED IN THE OFFICE OF THE RECORDER OF DEEDS OF KANE COUNTY, ILLWOIS ON DECEMBER 19 1881 AS DOCUMENT # 17168, ALL IN KANE COUNTY ILLINOIS, BOUNDED AND DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF SAID LOT 2; THENCE CONTINUING 5.33-42'-07TW., ALONG THE NORTHWESTERLY RIGHT-OF-WAY LINE OF DUNDEE AVENUE, AND IT ITS SOUTHWESTERLY PROLONGATION, FOR A DISTANCE OF 157.83 FEET TO A POINT; THENCE N.56-17'-53'W. ON A LINE PERPENDICULAR TO THE LAST DESCRIBED LINE, FOR A DISTANCE OF 160.00 FEET TO A POINT ON A LINE 160.00 FEET NORTHWESTERLY OF AND PARALLEL WITH THE NORTHWESTERLY RIGHT-OF-WAY LINE OF DUNDEE AVENUE; THENCE N.33-42'-OTE. ALONG THE LAST DESCRIBED LINE, FOR A DISTANCE OF 167.76 FEET TO A POINT ON A LINE 30.00 FEET SOUTH OF AND PARAI I EL WITH THE SOUTH RIGHT-OF-WAY LINE OF SUMMIT STREET; THENCE N.90-00'-00'E., ALONG THE LAST DESCRIBED LINE, FOR A DISTANCE OF 22.50 FEET TO A POINT ON THE EASTERLY LINE OF SAID LOT 13; THENCE 5.06-20'-11'W., ALONG THE EASTERLY LINE OF SAID LOT 13, FOR A DISTANCE OF 97.64 FEET TO THE SOUTHEAST CORNER OF SAID LOT 13; THENCE N.90-00'-00'E.. ALONG THE SOUTH LINE OF SAID LOT 2. FOR A DISTANCE OF 115.87 FEET TO THE POINT OF BEGINNING, ALL. IN KANE COUNTY, II I INOI5.