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HomeMy WebLinkAboutRESOLUTION - 45-98 - 10/13/1998 - ESTOPPEL CERTIFICATES FOR REDEV. AGMTRESOLUTION NO. 45-98 A RESOLUTION AUTHORIZING THE VILLAGE PRESIDENT AND VILLAGE CLERK TO EXECUTE ESTOPPEL CERTIFICATES FOR THE REDEVELOPMENT AGREEMENT AND THE RECIPROCAL EASEMENT AGREEMENT BETWEEN HAMILTON PARTNERS AND THE VILLAGE OF ELK GROVE VILLAGE (ELK GROVE TOWN CENTER) NOW, THEREFORE, BE IT RESOLVED by the President 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 Village President be and is hereby authorized to sign the attached documents marked: ESTOPPEL CERTIFICATE (VILLAGE) ESTOPPEL CERTIFICATE (REDEVELOPMENT AGREEMENT) 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 Village President. 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 October 1998. APPROVED this 13th day of October 1999. Craig B. Johnson Village President ATTEST: Patricia S. Smith Village Clerk res0602o.doc BSTOPPEL CERTIFICATE Agreement) TO: Allianz Life Insurance Company of North America ("Allianz") Uo Allianz of America, Inc. 55 Greens Farms Road P.O. Box 5160 Westport, Connecticut 06881-5160 Atte: Paul b. 'Wolters Re: Elk Grove Town Center, Elk Grove Village, Mimis ("Property") Dear Mr. welters: The undersigned ("Village•) is a party to that certain Redevelopment Agteemeut dated Match 11, 1997 and recorded August 5, 1997 In the Cook County Recorder's Ounce, as amended by that certain Pirat Amendmem to Redevelopment Agreement dated July 22, 1497 and recorded August 5, 1997 in the Cook County Recorder's Office (the Redevelopment Agreement and First Amendment are hereinafter collectively referred to as "Agreement") by and between the Village and Elk Grove Town Center, L.L.C. ("Borrower"), which Agreement benefits and burdens the Property and certain other properties adjacent to the Property. Borrower is in the process of obtaining a loan from Allianz to be secured by, among other things, a mortgage lien against the Property. By this Estoppel Certificate, the Village hereby certifies to Allianz that the following statements are true and correct as of the date set forth below: 1. The Agreement is unmodified and in full force and effect- The Village has not transferred, assigned or encumbered the interest of the Village in the Agreement. 2. Borrower is not in default under the teams of the Agreement and no event, fact or circumstance bas occurred which, with the giving of notice or passage of time, or both, could result in a default by Village or Borrower of their respective obligations under the Agreement. 3. Village bas received no notice of default from Borrower or any other party with respect to the performance of the Village's obligation under the Agreement. 4. The Village has full power, authority and legal right to execute and deliver this Estoppel Certificate. This Estoppel Certificate and the su tetoents contained herein shall be binding upon the Village and its successors and assigns, and sball litre to the benefit of Allianz, and its successors and assigns. very truly yours, Village of Elk Grove Village, as Mivoia tnutticipal corporation By; Craig B. Johnson Its: President ..- STATE OF IIJINOIS ) ) SS. COUNTY OF Cook ) I, Patricia S. Smith , a Notary Public in and for said Comity, in the State, aforesaid, DO HEREBY CERTIFY that mai¢ B. Johnson , personally known to me to be the President of Elk Grove Village and the same person whose name is subscribed to the foregoing instrument, appeared before me this day in person and acknowledged that he has signed and delivered the said instrument as his/bar froe and voluntary act as aforesaid,_for the uses and purposes therein set forth. GIVEN under my hand and notarial seal this 13thday of October j 1998. Patricia S. Smith .Notary Public My commission exvires: 321"81.01 TOTAL P.11 ESTOPPEL CERTIFICATE (Vin) TO: Allianz Life Insurance Company of North America ("Aildam") c/o Allianz of America, Inc. 55 Or ens Farms Road P.O. Boz 5160 Westport, Connecticut 06881-5160 Attn: Paul D. Wolters Re: Ells Grove Town Center, ER Grove Village, Illiaois ("Property") Dear Mr. Wolters: The undersigned is a party to that certain Reciprocal Eason „r Agreement ("Agreement') dated March 13, 1997 and recorded on August 5, 1497 in the Cook County Recorder's Office by and among the Board of Library Trustees of the Village of Elie Grove Village, Cook County, Illinois (the "Library"), the Village of Elk Grove Village (the "Village") and Elk Grove Town Center, L.L.C. ("Borrower"), which Agreement beneft and burdens the Property and certain other property owned by the Village and the Library. Borrower is in the process of obtaining a loan from Allianz to be secured by, among other things, a mortgage lien against the Property. By this Estoppel Certificate, the Village hereby certifies to Allianz that the following statements are true and correct as of the date set forth below: 1. The Agreement is unmodified and In full force and effect. The Village has not transferred, assigned or encumbered the interest of the Village in the Agreement. 2. Borrower is not in default under the terms of the Agreement and no event, fact or circumstance, has occurred or arisen which, with the giving of novice or passage of time, or both, could result in a default by Library, Village or Borrower of their respective obligations under the Agreement. 3. The Village has received no notice of default front Borrower, the Library or any other party with respect to the performance of the undersigned obligations under the Agreement. 4. The Village has full power authority and legal right to execute and deliver this Estoppel Certificate. This Estoppel Certificate and the staternants contained herein shall be binding upon the Village and its successors and assigns, and shall inure to the benefit of Allianz, and its successors and assigns. This Estoppel Cordfieate may be executed In arty timber of cmutapart original instruments, all of which wben taken together shall constitute but one fully executed instrument. Very huly Yomp The Village of Elk Grove Village By. Craig B. Johnson President Dated. October 13, 1998 STATE OF ILLINOIS ) ) SS. COUNTY OF Cook ) I, Patricia S. Smith , a Notary Public In and for said County, in the State aforesaid, DO HEREBY CERTIFY that Craig B. Johnson 'personally known to Lute to be the President , of The Village of Elk Grove Village, and the same persons whose name is subscribed to the of instrument, appeared before me this day in person and aeltnowledged that _ he has signed and delivered the said instrument as his/her free and voluntary act as aforesaid, for the uses and purposes therein set forth. GIVEN under my hand and notarial seal this 13th day of October , 199$_ Patricia S. Smith Notary Public MY commission expires - =11510.01