95-0101 GVC Ground Lease Recorded . 1 . `
II
FILED FOR M.-cif-in
K,NE CCUN i Y. !L�..
THIS INSTRUMENT WAS PREPARED B�
AND AFTER RECORDING RETURN TO: 9 9 9 K U I 692 i 1999 FEB 16 PM 12: 15
Irwin I . Gzesh, Esq. ,.. 2r! cS?..,,.441
Neal Gerber & Eisenberg = EfC7i.CiA
Two North LaSalle Street
Suite 2200
Chicago, Illinois 60602
MEMORANDUM OF GROUND LEASE AND OPTION AGREEMENT
THIS MEMORANDUM OF GROUND LEASE AND OPTION AGREEMENT
("Memorandum" ) is made effective as of the 1st day of January, 1995
by and between the City of Elgin, Illinois, an Illinois municipal
corporation ( "Landlord") , having an address of 150 Dexter Court,
q Elgin, Illinois 60120, and Elgin Riverboat Resort, an Illinois
2
en joint venture ( "Tenant") , having an address in care of RBG, L.P. ,
CI
7 200 West Madison Street, 38th Floor, Chicago, Illinois 60606 .
CD
1 . Real Estate. Landlord is the owner of that certain real
property legally described in Exhibit A attached hereto and made a
part hereof, located in Kane County, Illinois (the "East Parcel" )
and is the owner of that certain real property legally described in
0 Exhibit B attached hereto and made a part hereof, located in Kane
2 County, Illinois (the "West Parcel") .
a 2 . The Lease. Pursuant to that certain Ground Lease and
7
4)
Option Agreement between Landlord and Tenant dated as of January 1,
1995 (the "Agreement") , Tenant has leased the East Parcel from
Landlord for an initial term commencing on January 1, 1995, and
terminating on December 31, 1999 . The Agreement also grants Tenant
certain options exercisable at any time during the term of the
Agreement to purchase the East Parcel an the West Parcel, all on
the terms and conditions therein provide . The Landlord has also /
1999K016921 /5-011,-,
•
agreed not to permit development of the West Parcel during the term
of the Agreement .
3 . Purpose of Memorandum. This Memorandum was prepared,
signed and acknowledged solely for recording purposes under the
laws of the State of Illinois and is in no way intended to change,
alter, modify, amend or in any way affect the rights, duties and
obligations of Landlord and Tenant pursuant to the Agreement . For
a full statement of the terms and conditions of the Agreement, any
person or entity dealing with the East Parcel or West Parcel should
refer to the Agreement; the sole intention and purpose of this
instrument being to place those dealing with the East Parcel or
West Parcel on notice of the Agreement .
IN WITNESS WHEREOF, the parties have caused this Memorandum to
be executed effective as of the day and year first above written.
LANDLORD: CITY OF ELGIN, a municipal
corporation
By:
Its : Mayor
Attest :
Its : City Clerk
TENANT: ELGIN RIVERBOAT RESORT, an Illinois
partnership
By RBG, L.P. ,
one of its general partners
By HC orporation,
its al artner
• By
Richard . Schulze
1999 K016921
IL
STATE OF ILLINOIS
SS :
COUNTY OF KANE
The foregoing MEMORANDUM OF GROUND EASE AND OPTION AGREEMENT
was acknowledged before me this 2nd da of December 1998 by
Kevin Kelly and Dolonna Mecum , the Mayor and City
Clerk of the City of Elgin, on behalf of the City of Elgin, in its
capacity as Landlord as aforesaid, fo , the uses and purposes
therein set forth.
.411.40&46,41+, :A A,11►46,44-4600,• c�-
4 OFFICIAL SEAL !Co ary Public
4 NANCY ROLL
4 NOTARY PUBLIC, STATE OF ILLINOIS 10
My Commission Expires Aug. 10, 2001 1. My commiss on expires : August 10, 2001
SATE OF ILLINOIS )
SS :
COUNTY OF COOK
The foregoing MEMORANDUM OF GRO L .SE OPTION AGREEMENT
was acknowledged before me this c�-c� d•:y of Ja.texo_ , 199i by.
Richard L. Schulze, in his capacity as •'= ••.
HCCA Corporation, acting as general part' er of RBG, L.P. , in its ✓f'icierit,
capacity as one of the general partners o Elgin Riverboat Resort,
in its capacity as Tenant as aforesaid, for the uses and purposes
therein set forth.
OFFICIAL SEAL
IRMA TO VAR No• Public
NOTARY PUBLIC,STATE OF ILLINOIS
MY COMMISSION EXPIRES:03/15/99
✓o"I,s RCM M.1AtAN., "�kMti•..a^.
My commiss 'on expires : "\15191'
•
•
C:\80821\11942\MEMOGROU
1999K0I6921
0 • V
EXHIBIT A
EAST PARCE
THAT PART OF THE SOUTHWEST QUARTER *F SECTION 13 , TOWNSHIP 41
NORTH, RANGE 8 EAST OF THE THIRD PRI IPAL MERIDIAN DESCRIBED AS
FOLLOWS :
LOTS 3 THROUGH 18, BOTH INCLUSIVE, I BLOCK 1 OF O. DAVIDSON' S
ADDITION TO ELGIN, IN THE CITY OF ELGIN, KANE COUNTY, ILLINOIS .
ALSO
LOTS 1 THROUGH 16, BOTH INCLUSIVE, IN DOCK "A" OF DAVIDSON' S GROVE
AVENUE SUBDIVISION, IN THE CITY OF ELeIN, KANE COUNTY, ILLINOIS .
PERMANENT INDEX NO. 06-13-352-038
-4-
1999 K016921
4-1999K016921
•
EXHIBIT B
WEST PARCEL
THAT PART OF JAMES T. GIFFORD' S ADDITION AND BLOCK B OF DAVIDSON' S
GROVE AVENUE SUBDIVISION AND BLOCK 4 OF O. DAVIDSON' S ADDITION TO
- ELGIN AND LYING SOUTH OF A LINE DRAWN P. ' ' LEL TO THE SOUTHEASTERLY
LINE OF SAID JAMES T. GIFFORD' S ADDITION SAID LINE PASSES THROUGH
A POINT BEING 85 . 0 FEET SOUTHEASTERLY ( • S MEASURED ALONG THE WEST
LINE OF GROVE AVENUE) OF THE SOUTH LINE OF PRAIRIE STREET.
PERMANENT INDEX NO.
1999K016921