99-19 Resolution No. 99-19
RESOLUTION
AUTHORIZING EXECUTION OF A RELEASE DEED
(7 South State Street)
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,
ILLINOIS, that Joyce A. Parker, City Manager, and Dolonna
Mecum, City Clerk, be and are hereby authorized and directed to
execute a Release Deed on behalf of the City of Elgin for the
property commonly known as 7 South State Street, a copy of
which is attached hereto and made a part hereof by reference.
s/ Robert Gilliam
Robert Gilliam, Mayor Pro Tem
Presented: January 27 , 1999
Adopted: January 27, 1999
Omnibus Vote: Yeas 5 Nays 0
Attest:
s/ Dolonna Mecum
Dolonna Mecum, City Clerk
RELEASE DEED
p e
FOR THE PROTECTION OF THE
OWNER, THIS RELEASE SHALL BE
FILED WITH THE RECORDER OF
DEEDS OR THE REGISTRAR OF
TITLES IN WHOSE OFFICE THE
MORTGAGE OR DEED OF TRUST
WAS FILED.
KNOW ALL MEN BY THESE PRESENTS,
That the City of Elgin, a municipal corporation, of the Counties of Kane and
Cook and State of Illinois for and in consideration of one dollar, and for
other good and valuable considerations, the receipt whereof is hereby
acknowledged, do hereby remise, release, convey and quit-claim unto
William G. Vincent and Sally B. Vincent, husband and wife, heirs, legal
representatives and assigns, all the right, title, interest, claim, or demand
whatsoever it may have acquired in, through, or by a certain mortgage,
bearing date the 12th day of May, 1992, and recorded in the Recorder's Office
of Kane County, in the State of Illinois as Document Number 92K35866, to the
premises therein described, situated in the County of Kane, State of
Illinois, as follows, to wit:
That part of Lot 8 in Block 22 of the Original Town of Elgin, on
the West side of Fox River, described as follows: Beginning at
the Northwest corner of said lot; thence Southerly along the
Westerly line of said lot 22 feet; thence Easterly at right angles
to the Westerly line of said lot 55.95 feet; thence Northerly 22.30
feet to a point in the Northerly line of said lot 53.60 feet
Easterly from the Northwest corner thereof; thence Westerly along
the Northerly line of said lot 53.60 feet to the point of
beginning, in the City of Elgin, Kane County, Illinois.
together with all the appurtenances and privileges thereunto belonging or
appertaining.
Permanent Real Estate Index Number: 06-14-431-004
Address of Premises: 7 South State Street, Elgin, Illinois 60123
CITY OF ELGIN, a municipal corporation
/;/
By l ,/1�
City Man er
IMPRESS CORPORATE SEAL HERE
Attest: '}^
City Clerk
STATE OF ILLINOIS )
) 88
COUNTY OFKANE )
I, the undersigned, a Notary Public, in and for the County and State
aforesaid, DO HEREBY CERTIFY, that Joyce A. Parker, personally known to me to
be the City Manager of the City of Elgin, a municipal corporation, and
Dolonna Mecum, City Clerk of said municipal corporation, and personally known
to me to be the same persons whose names are subscribed to the foregoing
instrument, appeared before me this day in person and severally acknowledged
that as such City Manager and City Clerk, they signed and delivered the said
instrument as City Manager and City Clerk of said municipal corporation, and
caused the corporate seal of said municipal corporation to be affixed
thereto, pursuant to authority, given by the City Council of said municipal
corporation as their free and voluntary act, and as the free and voluntary
act and deed of said corporation, for the uses and purposes therein set
forth.
Given under my hand and official seal this ,Mjk,day of January, 1999.
IMPRESS NOTARIAL
SEAL HERE
OFFICIAL SEAL \ lj f( �i 'l
SUELLYN LOSCH
;0 Not�'ry Pub is
NOTARY PUBLIC, STATE OF ILLINOIS
My Commission Expires Oct. 27, 2002
This Instrument was Prepared by:
William A. Cogley
City of Elgin
150 Dexter Court
Elgin, Illinois 60120-5555
(847) 931-5655
y` r ESC/
0 •ti
4
`),3 City of Elgin Agenda Item No.
•ATED F��
January 4 , 1999
TO: Mayor and Members of the City Council
FROM: Joyce A. Parker, City Manager
SUBJECT: Release of Mortgage on 7 South State Street
PURPOSE
The purpose of this memorandum is to provide the Mayor and
members of the City Council with information to consider a
release of mortgage on 7 South State Street .
BACKGROUND
In 1992, a second mortgage and note with the property at 7
South State Street was accepted by the City of Elgin as
collateral on a loan in the amount of $11, 350 for building
improvements at that address . The loan was financed under the
City' s CBD Loan Program (funded, at that time, through the
Community Development Block Grant Funds) . The recipients of
the loan were William G. Vincent and Sally B. Vincent .
The loan from the City has been repaid in its entirety and the
mortgage can be released by the City.
COMMUNITY GROUPS/INTERESTED PERSONS CONTACTED
None .
FINANCIAL IMPACT
None .
`oLEGAL IMPACT
None .
ALTERNATIVES
Approve release of mortgage on property located at 7 South
State Street .
r
Release of Mortgage on 7 South State Street
January 4 , 1999
Page 2
RECOMMENDATION
It is recommended that the mortgage held by the City of Elgin
on the property at 7 South State Street be released.
Re ectfully submitted,
Jay e AJ Parker
CYty Manager
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