HomeMy WebLinkAboutRESOLUTION - 18-12 - 4/10/2012 - CONSENT TO ASSIGNNNENT LOWER ASSETS NEWCORESOLUTION NO. 18-12
A RESOLUTION RESCINDING RESOLUTION NO. 16-11 AND AUTHORIZING THE
MAYOR AND VILLAGE CLERK TO EXECUTE A LANDLORD/LESSOR CONSENT TO
ASSIGNMENT OF LEASE AND RENTS (TOWER ASSETS NEWCO/TV6-W ENTITY)(1060
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/TV6-W Entity to
Trustmark National Bank.
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 101h day of April 2012.
APPROVED this 101h day of April 2012.
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Judith M. Keegan, Village Clerk
Rmescind 16-I1 andConscntotAssimt
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 dated 1/3/1997 by and between the undersigned and TAN II (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 reasonably necessary to cure such default so long as
Lender pursues the cure of same with due diligence:
TRUSTMARK NATIONAL BANK
1365 S. Germantown Road
Germantown, Tennessee 38183
Attn: Brandon Cooper
Landlord is not a party 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: Craig B. Johnson
Its: Mayor
STATE OF
•a •
On , 2012, before me, a Notary
Public personally appeared as , known
to me to be the person whose name is subscribed to the within instrument and who acknowledged
to me that he/she executed the same in his capacity, and that by his signature on the instrument,
the entity upon behalf of which the person acted, executed the instrument.
(Signature of Notary Public)
Notary Public, State of _
Commission
My commission