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HomeMy WebLinkAboutRESOLUTION - 71-80 - 7/8/1980 - DEED OF TRUST/LASALLE NATIONAL BANK RESOLUTION NO. 71 -80 A RESOLUTION AUTHORIZING THE VILLAGE PRESIDENT AND VILLAGE CLERK TO EXECUTE A DEED IN TRUST TO THF LASALLE NATIONAL BANK, A NATIONAL BANKING ASSOCIATION, AS TRUSTEE UNDER TRUST AGREEMENT DATED FEBRUARY 16 , 1979 , AND KNOWN AS TRUST NO. 100562 BE IT RESOLVED, by the Board of Trustees of the Village of Elk Grove Village , Counties of Cook and OuPage , Illinois , as follows : Section 1: That the Village President and Village Clerk are hereby authorized to execute a Deed in Trust to The LaSalle National Bank , a national banking association as Trustee under Trust Agreement dated February 16 , 1979 , and known as Trust No. 100562 , a copy of said Deed being attached hereto and inCnY?(\ra}orl ho re in , Section 2 : That this Resolution shall be in full force and effect from and after its passage and approval according to law. VOTES : AYES : 5 NAYS : 0 ABSENT: 1 PASSED this 8th day of July , 1980 . APPROVED this 8th day of July 1980 . APPROVED: Charles J. Zettek Village President ATTEST: y Fag M. Bishop Village Clerk 4_ V)'i5 3I brntIITP '* bat obt �3ranfnr THE VILLAGE of ELI: GROVE VILLAGE . an Illinois municipal corporation , of the Count, of Cook _ and the Stale of I I1 i0O a S _ for and in cons,deralion of Ten and no/ 100-------_-- ----------------------------_--- (510 . 00) Dollars, QuiL Claims end ether good and s.duable consideration it, hand pard,Convey S _antii(*. ' unto LASALLE NATIONAL RANK, a national bankma association, of 135 South La Salle Slice,,Chicago, Millais, its successor or successors as Trustee under the provisions of a tru.t agreement dated the I6 tI'1 day of February l9 �9 known as "Trust Number 100552 the h;ll.�w m^ dcscnhed real estate in the County of_ CO0k___ —_ — and Sate of - Illinois, to wit: SEE LEGAL DESCRIPTION ATTACHED HERETO AS EXHIBIT "A" AND INCORPORATED HEREIN BY THIS REFERENCE Permanent Real Estate Index No TO HAVE AND TO HOLD the said premises with the appurtenances,upon the trusts and for uses and purposes herein and in said trust agreement set forth. Full power and authority is hereby granted to said trustee to improve, manage, protect and subdivide,xaid premises or any part thereof, to dedicate parks, streets, highways or alleys and to vacate any subdivision or part thereof,and to resubdivide said property as often as desired, to contract to sell, to grant options to purchase,to sell on any terms, to convey,either with or without consideration, to convey said premises or any part thereof to a successor or successors in trust and to grant to such successor or successors in trust all of the title, estate, powers and authorities vested in said trustee, to donate, to dedicate, to mortgage, pledge or otherwise encumber,said property, or any part thereof, to lease said property, or any part thereof, from time to time, in possession or reversion, by leases to commence in praesenti or in futuro, and upon any terms and for any period or periods of time,not exceeding in the case of any single demise the term of 198 years,and to renew or extend leases upon any terms and for any period or periods of time and to amend,change or modify leases and the terms and provisions thereof at any time or times hereafter,to contract to make leases and to grant options to lease and options to renew leases and options to purchase the whole or any part of the reversion and to contract respecting the manner of fiune the amount of present or fume rentals, to partition or to exchange said property, or any part thereof, for other real or personal property, to grant easements or charges of any kind, to release, convey or assign any right, title or interest in or about or casement appurtenant to said premises or any part thereof, and to deal with said property and every part thereof in all other ways and for such other considerations as it would be lawful for any person owning the same to deal with the same,whether similar to or different from the ways above specified,at any time or times hereafter. In no case shall any party dealing with said trustee in relation to said premises,or to whom said premises or any part thereof shall be conveyed, contracted to be sold, leased or mortgaged by said trustee, be obliged to see to the application of any purchase money, rent, or money borrowed or advanced on said premises, or be obliged to see that the terms of this trust have been complied with,or be obliged to inquire into the necessity or expediency of any act of said trustee,or be obliged or privileged to inquire into any of the terms of said trust agreement; and every (iced, trust deed, mortgage, lease or other instrument executed by said trustee in relation to said teal estate shall be conclusive evidenu: in favor of every person relying upon or claiming under any such conveyance, lease or other instrument,(a) that at the time of the delivery thereof the trust created by this Indenture and by said trust agreement was in full force and effect, (b) that such conveyance it other instrument was executed in accordance with the trusts, conditions and limitations contained in this Indenture and in said trust agreement or in some amendment thereof and binding upon all beneficiaries thereunder,(c) that said trustee was duly authorized and empowered to execute and deliver every such deed, trust deed, lease, mortgage or outer instrument, and (d) if the conveyance is made to a successor of successors in trust, that such successor or successors in trust have been properly appointed and are fully vested with all the title, estate, rights, powers, authorities, duties and obligations of its, his or their predecessor in trust. The interest of each and every beneficiary hereunder and of all persons claiming under them or any of them shall be only in the earnings, avails and proceeds arising from the sale or other disposition of said real estate, and .such interest is hereby declared to be personal property, and no beneficiary hereunder shall have any title or interest, legal or equitable, fit or to said real estate as such,but only an interest in the earnings,uvwls;md proceeds thereof as aforesaid. If the title to any of the above lands is now Or hereafter registered, the Registrar of Titles is hereby directed not to register or note in the certificate of title or duplicate thereof,or memorial, the words"in trust"or"upon condition," or"with limitations,"or words of similar import, in accordance with the statute in such cases made and provided. And the said umntor_hereby expressly waive—and release—any and all right or benefit under and by virtue of any and all statutes of the State of Illinois,providing tar the exemption of homesteads from sale on execution or otherwise. In witness\bite reg(,the grantor—aforesaid has hereunto se[ 1 L LS__hand—and seal this day of , l9-8Q.. THE VILLAGE OF ELK-GROVE VILLAGE ATTEST: (SEAL) Village )-resident Verge Clerk Exhibit A Parcel 1 Lot 1 in Everdinq Subdivision of part of the South West quarter of Section 2F, Township Al North, Range 11 , East of the Third Principal Meridian , according to the plat thereof re- corded February 8 , 1979 as document 24836982 , in Cook County, Illinois.