HomeMy WebLinkAboutRESOLUTION - 16-11 - 4/12/2011 - LEASE AGREEMENTRESOLUTION NO. 16-11
A RESOLUTION AMENDING RESOLUTION NO. 61-96, RESOLUTION NO. 6-09 AND
RESOLUTION NO. 60-09 AND AUTHORIZING THE MAYOR AND VILLAGE CLERK TO
EXECUTE A LANDLORD/LESSOR CONSENT TO ASSIGNMENT OF LEASE AND
RENTS (TOWER ASSETS NEWCO VI, LLC)0060 OAKTON STREET)
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 marked:
LANDLORD/LESSOR CONSENT TO ASSIGNMENT OF LEASE AND RENTS
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 document upon the signature of the Mayor.
Section 2: That the adoption of this Assignment by the Village provides consent to and
approval of said Assignment of Lease and Rents from Tower Assets Newco VI, LLC to First Tennessee
Bank National Association.
Section 3: That this Resolution shall be in full force and effect from and after its passage and
approval according to law.
VOTE: AYES: 6 NAYS: 0 ABSENT: 0
PASSED this 12`h day of April 2011.
APPROVED this 12`h day of April 2011.
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Judith M. Keegan, Village Clerk
Landlord/Lessor Consent to Assignment of Lease and Rents
The Landlord/Lessor as listed in the signature block below (landlord"), is either the lessor or
landlord, or a successor in interest to the lessor or landlord, as the case may be, under the Lease
Agreement (the "Lease"). Landlord joins in this Assignment to consent to and approve said
Assignment of Lease and Rents.
In the event of a default under the Lease, Landlord agrees to give notice to Lender of such
default at the following address and an opportunity to cure such default within ten (10) days for any
monetary default and thirty (30) days for any nonmonetary default, during which period Lender shall
have the right, but not the obligation, to remedy or cure such default; provided, however, that if such
default cannot reasonably be cured within thirty (30) days, then Lender shall have such longer period
of time as may be agreed upon by Landlord:
First Tennessee Bank National Association
165 Madison Avenue
Memphis, TN 38103
Attention: Damon Bell
Landlord is not a parry to the Assignment for any other purpose, except those specifically
expressed in this consent, and otherwise assumes no obligations thereunder.
Landlord:
Village of Elk Grove Village
By: Mayor Craig B. Johnson
Attest:
Judith M. Keegan, Village Clerk
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