HomeMy WebLinkAboutRESOLUTION - 38-01 - 9/13/2001 - LETTER OF UNDERSTANDING/PRIMECO PCSRESOLUTION NO. 38-01
A RESOLUTION AUTHORIZING THE MAYOR AND VILLAGE CLERK TO EXECUTE A
LETTER OF UNDERSTANDING (AMENDING RESOLUTION NO. 17-01 GROUND LEASE
AGREEMENT) AUTHORIZING PRIMECO PCS TO ASSIGN PARTIAL OWNERSHIP
INTEREST OF WIRELESS COMMUNICATION ASSETS TO CHICAGO 20 MHZ, LLC
(676 MEACHAM ROAD)
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Board of
Trustees of the Village of Elk Grove Village, Counties of Cook and
DUPage, State of Illinois as follows:
Section 1: That the Mayor be and is hereby authorized to sign
the attached document dated August 3, 2001, a copy of which is
attached hereto and made a part hereof as if fully set forth and the
Village Clerk is authorized to attest said documents upon the
signature of the Mayor.
Section 2: That this Resolution shall be in full force and
effect from and after its passage and approval according to law.
VOTE: AYES: 5 NAYS: 0 ABSENT: 1
PASSED this 13th day of September , 2001.
APPROVED this 13th 'day of September , 2001.
Craig B. Johnson
Mayor
ATTEST:
Ann I. Walsh
Village Clerk
do Jeremy E. Reis, Esq.
Kanen Machin Zavis
525 W. Monroe Street, Suite 1600
Chicago, IL 60661-3693
August 3, 2001
Village of Elk Grove
901 Wellington Avenue
Elk Grove Village, IL 60007
Attn: Raymond Rummel
Re: Site Agreement dated 03/27/01 (the "Agreement") Site No. 2071; Site Name: Elk Grove Village
Dear Sir or Madam:
PrimeCo Personal Communications, L.P. and its affiliates ("PrimeCo") have joined Bell Atlantic Mobile, Vodafone
AirTouch and GTE Wireless to form Verizon Wireless. In connection therewith and by order of the United States District
Court for the District of Columbia, PrimeCo's PCS assets in the Chicago market, including its direct interest in the
Agreement, have been assigned to an entity called Chicago 20MH4 LLC, which is currently held in a divestiture trust (the
"Trust") established for the benefit of PrimeCo PCS, L.P.
The Trust has entered into a binding agreement for the sale of the ownership interests in Chicago 20MHz, LLC, a
Delaware limited liability company, to a group of investors led by Clarity Partners, L.P. and Pacific Capital Group, Inc. (the
"Buyer"). The sale of Chicago 20MHz, LLC to the Buyer is expected to be consummated in the third or fourth quarter of
2001.
By this letter, in accordance with the Agreement, the Trust requests your consent to the transfer of ownership of
Chicago 20MH2, LLC to the Buyer (the "Transfer"), however. PrimeCo as original Tenant under the Agreement, will not be
released from any of its liabilities or obligations under the Agreement.
Please confirm your consent to the Transfer by executing this letter in the space provided below where indicated
and return it in the enclosed overnight envelope. If you have any questions, please call Jeremy E. Reis at 312.902.5439.
Very truly yours,
PrimeCo PCS, L.P. Wireless Assets Trust (Chicago)
By: Joseph J. Simons, Esq.
Trustee — PrimeCo PCS, L.P. Wireless Assets Trust (Chicago)
By:
Accepted and Agreed by: `�J!
Village of Elk Grove
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