HomeMy WebLinkAboutRESOLUTION - 23-16 - 7/19/2016 - Creative Werks Agreement RESOLUTION NO. 23-16
A RESOLUTION AUTHORIZING THE MAYOR AND VILLAGE CLERK TO
EXECUTE A REIMBURSEMENT AGREEMENT BETWEEN THE VILLAGE OF ELK
GROVE VILLAGE AND CREATIVE WERKS,LLC.
NOW, THEREFORE, BE IT RESOLVED by 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 documents
marked:
REIMBURSEMENT 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 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: 6 NAYS: 0 ABSENT: 0
PASSED this 19th day of July 2016.
APPROVED this 191h day of July 2016.
APPROVED:
Mayor Craig B. Johnson
Village of Elk Grove Village
ATTEST:
Judith M. Keegan,Village Clerk
REIMBURSEMENT AGREEMENT
THIS REIMBURSEMENT AGREEMENT (this "Agreement") is made and entered
into as of the 10 day of July, 2016 by and between the Village of Elk Grove, an Illinois home-
rule municipal corporation located in Cook and DuPage Counties, Illinois (the "Village"), and
Creative Werks, LLC a Delaware limited liability company ("Creative Werks").
RECITALS
A. Pursuant to the terms of a Redevelopment Plan entitled `Busse/Elmhurst Road
Tax Increment Financing Redevelopment Plan and Project," dated March 11, 2014
("Redevelopment Plan") the Village designated a certain area within its municipal limits for
redevelopment and revitalization ("Busse/Elmhurst Road Redevelopment Project Area").
B. The Redevelopment Plan recites that the Busse/Elmhurst Road Redevelopment
Project Area is characterized by conditions which warrant the designation of portions of the
area as a "conservation area," as such term is defined in the Tax Increment Allocation
Redevelopment Act, 65 ILCS 5/11-74.4-1, et seq., as amended (the "Act"). The
Redevelopment Plan further recites that the Village is desirous of having the property within
the Busse/Elmhurst Road Redevelopment Project Area redeveloped and revitalized in order
to strengthen the Village's economic base and enhance the quality of life of the Village as a
whole.
C. The Village is authorized under the provisions of the Act to reimburse Creative
Werks for certain eligible costs using tax increment financing ("TIF") as set forth in the Act.
D. To stimulate the redevelopment of the Area, and pursuant to the Act, the
corporate authorities of the Village passed the following ordinances: (1) Ordinance No. 3771,
"An Ordinance Approving the Village of Elk Grove Village Busse/Elmhurst Road Tax
Increment Financing Development Plan and Project"; (2) Ordinance No. 3372, "An
Ordinance Designating the Village of Elk Grove Village Busse/Elmhurst Road
Redevelopment Project Area"; (3) Ordinance No. 3373, "An Ordinance Adopting Tax
Increment Financing for the Village of Elk Grove Village, Cook County, Illinois, in
Conjunction with the Designation of the Village of Elk Grove Village Busse/Elmhurst Road
TIF Redevelopment Project Area" (the ordinances, together with the exhibits appended
thereto, are sometimes hereinafter collectively referred to as the ("TIF Ordinances").
E. Prior to the adoption of the TIF Ordinances, the Village would approve a Cook
County 6b Incentive ("6b Incentive") for an industrial business moving into the Village that
would generate employment and revenue. However, once the Village adopted the TIF
Ordinances, it determined it was in the best interest of the Village to provide assistance in a
form other than a 6b Incentive.
F. Creative Werks has entered into agreements to lease the properties located at
1460-1470 Brummel Street in the Village which are more fully described in Exhibit A
attached hereto, and improved with one building totaling 699,724 square feet (the
"Properties"), of which Creative Werks will be leasing 245,317 square feet. Creative Werks
proposes to lease the Property and expand its business within said Property by relocating a
portion of its Bensenville operations into the Village. The business will include corporate
headquarters and food co-packing services (the "Business"). Creative Werks has estimated
the Project, as defined herein, will cost in excess of two million dollars ($2,000,000.00) to
construct. It is anticipated that the Project will create additional revenue and significant
employment opportunities for the Village and its residents, estimated to employ one hundred
and fifteen (115) full-time employees and five hundred and fifty (550) part-time employees.
The redevelopment of the Property, relocating into the Village, the TIF Improvements and
the Private Funding are collectively referred to herein as the ("Project").
G. The Village has the authority to promote the health, safety and welfare of its
inhabitants, to prevent the onset of blight while instituting conservation measures, to
encourage private development in order to enhance the local tax base, and to enter
into contractual agreements with third parties for the purpose of achieving the aforesaid
purposes.
H. The corporate authorities of the Village have determined that the Project would
be, in all respects, consistent with and in furtherance of the Redevelopment Plan.
I. This Agreement has been submitted to the corporate authorities of the Village for
consideration and review and they have determined that the completion of the Project would
be, in all respects, consistent with and in furtherance of the Redevelopment Plan. The
Corporate Authorities have taken all actions required to be taken prior to the execution of this
Agreement in order to make the same binding upon it according to its terms.
NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants
and agreements herein contained, and other good and valuable consideration, the receipt and suf-
ficiency of which are hereby acknowledged, the Parties do hereby agree as follows:
I
RECITALS PART OF AGREEMENT
The representations, covenants and recitations set forth in the foregoing recitals are
material to this Agreement and are hereby incorporated into and made a part of this Agreement
as though they were fully set forth in this Article I.
II
MUTUAL ASSISTANCE
The Parties agree to take such actions, including the execution and delivery of such
documents, instruments, petitions and certifications (and, in the Village's case, the adoption of
such ordinances and resolutions), as may be necessary or appropriate, from time to time, to carry
out the terms, provisions and intent of this Agreement and to aid and assist each other in carrying
out said terms, provisions and intent.
III
ASSISTANCE TO THE PROJECT
3.0 Project Assistance - Reimbursement. The Village hereby agrees to provide Project
Assistance in the form of TIF reimbursement payments. The reimbursement amount is $550,000
payable in ten annual installments, the first payment of $55,000 is payable on the one year
anniversary of the date the Certificate of Occupancy is issued. All succeeding annual payments
of$55,000 will also be paid on the anniversary date of the permit. No interest shall accrue on
any unpaid balance of the TIF reimbursement.
IV
PRECONDITIONS & CONTINUING CONDITIONS
4.01 Preconditions to Village Assistance. Following are preconditions to Creative Werks
receiving or being entitled to receive Village Assistance:
A. Execution of Lease for the PropertX. Creative Werks shall execute a lease agreement
for said Properties on or before 12/31/2016. Creative Werks shall deliver evidence of its
lease agreement to the Village.
B. Completion of Project. The Project shall be substantially completed with the Business
open on or before January 1, 2017, subject to the delay provisions contained in section
7.13 hereof.
4.02 Continuing Conditions for Village Assistance. Following are continuing conditions to
Creative Werks being entitled to receive or receiving Village Assistance:
A. Payment of Taxes. Creative Werks acknowledges that the real estate taxes generated
by the Project may be the sole source of the Village Assistance and agrees that the
Village shall have no obligation to make any payment for the Project Assistance so long
as there are unpaid taxes on the Properties.
B. Continuous Operation of Business. The Village has entered into this Agreement to
stimulate employment, further redevelopment and increase tax revenue within the
Busse/Elmhurst Road Redevelopment Project Area. Therefore, (i) in the event that
Creative Werks ceases to operate the Business on the Properties or any portion thereof,
the Village shall have no obligation to continue to make any further payment of the TIF
Reimbursement Amount, except, however, any TIF Reimbursement Amount accrued
prior to ceasing to operate the Business but not yet due and payable shall be due Creative
Werks, and (ii) in the event that Creative Werks ceases to operate the Business on the
Properties or any portion thereof within ten (10) years of commencing Business
operations, Creative Werks shall be obligated to repay the Village the aggregate amount
of any TIF Reimbursement Amount previously paid by the Village up to the date of
cessation of Business. In the event that there is no cessation of Business operations by
Creative Werks within ten (10) years of commencing Business operations, paragraph
4.02.B(ii) shall be null and void.
C. Transfer or Properties or Assignment of Agreement. The Village shall have the right
to cease payments of the TIF Reimbursement Amount in the event Creative Werks
transfers the Properties or any portion thereof to any entity, unless said entity is owned or
controlled by Creative Werks or otherwise approved by the Village, which approval shall
not be unreasonably withheld. Except for a collateral assignment of this Agreement for
purposes of financing the Project, Creative Werks shall not make, create or suffer to be
made any sale, transfer, assignment or conveyance of the right to any payments agreed to
by Village in this Agreement unless approved by the Village in its sole discretion.
4.03 Project not Financially Feasible. Creative Werks has represented to the Village that
without the Village Assistance, the Project would be economically unviable.
ARTICLE V
APPROVALS, CONSTRUCTION & FEES
5.01 Building, Subdivision Codes. The Project will be completed in compliance with all
federal, state and Village building codes, subdivision, zoning, environmental and other
developmental regulations applicable to the Project. Creative Werks shall have the right to
petition for variances that it may deem necessary to complete of the Project.
5.02 Utilities and Fees. The Village hereby agrees that Creative Werks shall have the right to
connect to any and all Village water, sanitary and storm sewer lines serving the property. The
Village agrees that Creative Werks shall be obligated to pay only those water, sanitary sewer,
permit fees, engineering and inspection fees, demolition, or any other license fees that are
assessed on a uniform basis throughout the Village. Creative Werks further acknowledges that it
shall be required to obtain any permits or approvals required by the Village or any other body
having jurisdiction over the Project prior to the commencement of construction.
5.03 Workers' Compensation Insurance. Creative Werks agrees to maintain or cause to be
maintained by all contractors and subcontractors working on the Project, the Workers'
Compensation coverage required by the Illinois Workers' Compensation Act (820 ILCS 305).
5.04 Prevailing Wage Act. Creative Werks hereby acknowledges that the construction of the
Project may be subject to the Illinois Prevailing Wage Act (820 ILCS 130/0.01) ("Wage Act").
Creative Werks hereby agrees that it is responsible for complying with the Wage Act if
applicable including all reporting requirements and hereby indemnifies the Village for any
penalties or back salaries owed for Creative Werks's failure to comply with any provision of the
Wage Act.
5.05 TIF Representation and Warranties. The Village hereby represents and warrants that (i)
the Village shall not repeal the Ordinances during the term of this Agreement; and (ii) the
Village shall not, during the term of this Agreement, amend one or more of the Ordinances if
such amendment would adversely affect the Village's ability to pay to Creative Werks.
5.06 Defense of TIF. In the event that the legitimacy of the Ordinances are challenged before
a court or governmental agency having jurisdiction thereof and such challenge would affect the
payments to be made under this Agreement, the Village shall at its sole cost defend the integrity
of the Ordinances. The Developer shall fully cooperate with the Village in connection with the
foregoing.
VI
AUTHORITY
6.01 Actions. The Village represents and warrants that upon application of Creative Werks it
has taken, or will take, such action(s) as may be required and necessary to process the approvals
and permit applications as expeditiously as possible and as may be necessary or proper in order
for Creative Werks to complete the Improvements as contemplated herein.
6.02 Powers. The Village hereby represents and warrants that the Village has full
constitutional and lawful right, power and authority under currently applicable law, to execute,
deliver and perform the terms and obligations of this Agreement. This Agreement constitutes the
legal, valid and binding obligation of the Village, enforceable in accordance with its terms and
provisions and does not require the consent of any other governmental authority.
6.03 Creative Werks' Authorization. Creative Werks hereby represents and warrants that
entering into this Agreement shall not be a breach or violation of any other agreement to which
Creative Werks is a party.
6.04 Authorized Parties. Whenever under the provisions of this Agreement and other related
documents and instruments or any supplemental agreement or request, requiring approval or
consent of the Village, such approval or consent shall be given for the Village, unless otherwise
provided herein, by the Mayor or his designee and for Creative Werks by any officer of Creative
Werks so authorized (in any event, the officers executing this Agreement are so authorized); and
any person shall be authorized to act on any such agreement, request, demand, approval, notice
or consent or other action and neither party hereto shall have any complaint against the other as a
result of any such action taken.
VII
GENERAL PROVISIONS
7.01 Time of Essence. Time is of the essence of this Agreement. The Parties will make every
reasonable effort to expedite the subject matters hereof and acknowledge that the successful
performance of this Agreement requires their continued cooperation.
7.02 Village Default& Creative Werks' Remedy.
A. Default by Village. The Village shall be in default of this Agreement if Creative
Werks has met all of the preconditions and continues to meet the ongoing
obligations set forth in Article IV of this Agreement, and the Village receives the
Net Incremental Taxes but fails to make any payment that is due and owing as set
forth herein.
B. Creative Werks' Remedy. Upon the occurrence of a default by the Village as
hereinabove set forth, Creative Werks, as its sole and exclusive remedy of Default
by the Village, may seek the remedy of specific performance to compel the
Village to pay the Village Assistance under the terms and conditions set forth
herein.
C. Default by Creative Werks. Creative Werks shall be in default of this Agreement
in the event it fails to meet the preconditions set forth in Article IV of this
Agreement.
D. Village's Remedy. In the event Creative Werks is in default of this Agreement,
the Village's sole and exclusive remedy will be to cease paying the Village
Assistance until the default is cured and to take the actions set forth in this
paragraph. However, anything contained in this paragraph notwithstanding, the
Village reserves the right to enforce its codes and ordinance to the fullest degree.
7.03. Notice. Before either party hereto declares the other to be in default, the non-defaulting
party must have given the other a notice of default with thirty (30) days to cure the default. All
notices and requests required pursuant to this Agreement shall be sent as follows:
To Creative Werks, LLC:
Steve Schroeder, President
1460 Brummel Street
Elk Grove Village, IL 60007
To the Village:
Village Clerk
Village of Elk Grove Village
901 Wellington Ave.
Elk Grove Village, IL 60007
Fax: 847-357-4008
With copies to:
Village Attorney
Village of Elk Grove Village
901 Wellington Ave.
Elk Grove Village, IL 60007
Fax: 847-357-4022
or at such other addresses as the Parties may indicate in writing to the other either by personal
delivery, courier, or by registered mail, return receipt requested, with proof of delivery thereof.
Mailed notices shall be deemed effective on the third day after mailing; all other notices shall be
effective when delivered.
7.04. Abandonment. In case Creative Werks and/or the Village shall have proceeded to enforce
their rights under this Agreement and such proceedings shall have been discontinued or
abandoned for any reason, then, and in every such case, Creative Werks and the Village shall be
restored respectively to their several positions and rights hereunder, and all rights, remedies and
powers of Creative Werks and the Village shall continue as though no such proceedings had
been taken.
7.05. No Waiver by or Otherwise. Any delay by either Party in instituting or prosecuting
any actions or proceedings or otherwise asserting its rights under this Agreement shall not
operate to act as a waiver of such rights or to deprive it of or limit such rights in any way (it
being the intent of this provision that neither Party should be deprived of or limited in the
exercise of the remedies provided in this Agreement because of concepts of waiver, laches or
otherwise); nor shall any waiver in fact made with respect to any specific event of default be
considered or treated as a waiver of the rights by the waiving Party of any future event of default
hereunder, except to the extent specifically waived in writing. No waiver made with respect to
the performance, or the manner or time thereof, of any obligation or any condition under the
Agreement shall be considered a waiver of any rights except if expressly waived in writing.
7.06 Amendment. This Agreement, and any exhibits attached hereto, may be amended only
by the mutual consent of the Parties, by the adoption of an ordinance or resolution of the Village
approving said amendment, as provided by law, and by the execution of said amendment by the
Parties or their successors in interest.
7.07 No Other Agreement. Except as otherwise expressly provided herein, this Agreement su-
persedes all prior agreements, negotiations and discussions relative to the subject matter hereof
and is a full integration of the agreement of the Parties.
7.08 Severability. If any provision, covenant, agreement or portion of this Agreement, or its
application to any person, entity or property, is held invalid, such invalidity shall not affect the
application or validity of any other provisions, covenants or portions of this Agreement and, to
that end, any provisions, covenants, agreements or portions of this Agreement are declared to be
severable.
7.09 No Third Party Beneficiary. The provisions of this Agreement are for the benefit of the
Village and Creative Werks only and are not for the benefit of any third party,and accordingly, no
third party shall have the right to enforce the provisions of this Agreement.
7.10 Illinois Law. This Agreement shall be construed in accordance with the laws of the State
of Illinois. Any dispute or claim shall be filed in the Circuit Court of Cook County, Illinois.
7.11 Counterparts. This Agreement may be executed in several counterparts, each of which
shall be an original and all of which shall constitute but one and the same agreement.
7.12 Consent or Approval. Except as otherwise provided in this Agreement, whenever
consent or approval of either party is required, such consent or approval shall not be
unreasonably withheld.
7.13 Delay. For the purposes of any of the provisions of this Agreement, neither the Village
nor Creative Werks, as the case may be, nor any successor in interest, shall be considered in
breach of, or default in, its obligations under this Agreement in the event of any delay caused by
damage or destruction by fire or other casualty, strike, shortage of material, unusually adverse
weather conditions such as, by way of illustration and not limitation, severe rain storms or below
freezing temperatures of abnormal degree or quantity for an abnormal duration, tornadoes and
other events or conditions beyond the reasonable control of the party affected which in fact
interfere with the ability of such party to discharge its respective obligations hereunder.
7.14 Term. The term of this Agreement shall commence upon the execution of the Agreement
on behalf of the Village. The Agreement shall terminate upon the earlier of the final payment of
the Village Assistance or twelve (12) years from the date of execution by the Parties.
7.15 No Third-Party Beneficiaries. Nothing contained in this Agreement shall be construed as
creating any partnership or any benefit for any party other than as expressly set forth herein.
7.16 Certificate of Continued Effectiveness. Provided Creative Werks is in not in default of
its obligations and payment conditions set forth herein, within ten (10) business days after the
written request by Creative Werks, the Village shall execute and deliver to Creative Werks or
any existing or proposed mortgagee, lessor or grantee a certificate stating that this Agreement is
in full force and effect, that neither the Village nor Creative Werks are in default under this
Agreement and containing such other information as may be reasonably requested by Creative
Werks and any such mortgagee, lessor or grantee.
IN WITNESS WHEREOF, the Parties have duly executed this Agreement pursuant to
all requisite authorizations as of the date first above written.
VILLAGE OF ELK GROVE VILLAGE, an
Illinois Municipal Corporation
By:
Mayor Craig B. Johnson
ATTEST:
Judith M. Keegan, Village Clerk
CREATIVE WERKS,a Delaware Limited
Liability Company
By:
Its
ATTEST:
Its
EXHIBIT"A"
Property Legal Description
PREPARED BY:
Chrtsttanne C. Chen, Esq. Doc#;
1529222069 Fee:
Prologis, Inc. RHSP Fee:S9?00 RPRFF e:$1.00 4
4545 Airport Way Karen A.Yarbrough
Denver, CO 80239 Cook County Recorder of Deeds
Date: 10/191201,5 01:10 PAA Pg: 1 of 9
WHEN RECORDED RETURN TO:
PROLOGIS MRA I LLC
C/O Prologis, Inc.
4545 Airport Way
Denver, CO 80239
Attn: Legal Dept. (L. Anderson)
MAIL TAX STATEMENTS TO:
Prologis Tax Coordinator
60 State Street, Suite 1200
Boston, MA 02109
SPACE ABOVE THIS LINE RESERVED FOR RECORDER'S USE
EXEMPT UNDER PROVISIONS OF 35 ILCS 200/31-45
PARAGRAPH(e), REAL ESTATE TRANSFER
TAX ACT.
�— SPECIAL WARRANTY DEED
THIS INDENTURE WITNESSETH THAT PROLOGIS-EXCHANGE IL (3) LLC,
whose address is c/o Prologis, Inc., 4545 Airport Way, Denver, CO 80239 ("Grantor"), for and
in consideration of the sum of Ten and No/100 Dollars ($10.00) and other good and valuable
consideration in hand paid, the receipt, adequacy and sufficiency of which is hereby
acknowledged, by these presents does GRANT, BARGAIN AND SELL unto PROLOGIS
MRA I LLC, a Delaware limited liability company, whose address is c/o Prologis, Inc., 4545
Airport Way, Denver, CO 80239 ("Grantee"), the following described real property located in
the County of Cook, State of Illinois and legally described as follows:
See Legal Description attached hereto as Exhibit A and hereby made a part
hereof.
Together with all and singular the hereditaments and appurtenances thereunto belonging,
or in anywise appertaining, all the reversion and reversions, remainder and remainders, rents,
issues and profits thereof, and all the estate, right, title, interest, claim or demand whatsoever, of
VILLAGE OF ELK'ROVE VILLAGE
REAL ESTATE ITRRAN l_R T'7(_ f I.
pl 33231 $
Elk Grove 21
nu
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1529222069 Page: 2 of 9
Grantor, either in law or equity, of, in and to the above described property, with the
hereditaments and appurtenances: TO HAVE AND TO HOLD said property, with the
appurtenances,unto Grantee, its successors and assigns forever.
And Grantor, for itself, and its successors, does covenant, promise and agree, to and with
Grantee, its successors and assigns, that it has not done or suffered to be done, anything whereby
the property hereby granted is, or may be, in any manner encumbered or charged, except as
herein recited; and that said property against all persons lawfully claiming, or to claim the same,
by through and under Grantor, but not otherwise, Grantor will WARRANT AND DEFEND.
SUBJECT, HOWEVER, to all zoning and building laws, ordinances, maps, resolutions and
regulations of all governmental authorities having jurisdiction which affect the Property and the
use and improvement thereof; leases, if any; all matters of record; any state of facts which an
accurate survey made of the Property as of the date hereof would show; any state of facts which
a personal inspection of the Property made as of the date hereof would show; and the Permitted
Exceptions set forth on Exhibit B, attached hereto and made a part hereof.
Permanent Index Number(s): 08-27-201-006-0000 AND 08-27-203-009-0000
Common Address: 400 Busse Rd.,Elk Grove Village, IL 60007
[Signature Page Follows]
Elk Grove 21
1529222069 Page: 3 of 9
[Signature Page to Special Warranty Deed]
IN WITNESS WHEREOF, Grantor has caused this Special Warranty Deed to be
executed as of this /,2't—*day of Dense„ ,2015.
ProLogis-Exchange IL(3) LLC,
a Delaware limited liability company
By: Palmtree Acquisition Corporation,
a Delaware corporation, its sole member
Bye!' la P 2e,be
Name: Meg Robert
Title: First Vice President
STATE OF COLORADO
CITY/COU'NTY OF DENVER
The foregoing instrument was acknowledged before me this /, �- day of
2015, by Megan Robert,as First Vice President of Palmtree Acquisition Corporation, a Delaware
corporation. on behalf of said corporation; said corporation being the sole member of ProLogis-
Exchange IL (3) LLC, a Delaware limited liability company.
j . /
v OTA 09
TA09 No } Public
My Commission Expires. u / o/lo
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Elk Grove 21
1529222069 Page: 4 of 9
EXHIBIT A
The Property
PARCEL 1
LOT 163 IN HIGGINS INDUSTRIAL PARK UNIT 112, BEING A SUBDIVISION IN THE
NORTHEAST 1/4 OF SECTION 27, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE
THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY,ILLINOIS.
PARCEL 2:
A PERPETUAL NON-EXCLUSIVE EASEMENT FOR THE BENEFIT OF PARCEL I AS
CREATED BY RECIPROCAL EASEMENT AGREEMENT DATED MAY 15, 1994 AND
RECORDED OCTOBER 19, 1994 AS DOCUMENT NO. 94895028 AND AMENDED
RECIPROCAL EASEMENT AGREEMENT DATED SEPTEMBER 8, 1995 AND
RECORDED SEPTEMBER 28, 1995 AS DOCUMENT NO. 95661359 MADE BY AND
BETWEEN SIXPENCE INN OF ELK GROVE VILLAGE, A PARTNERSHIP, MCGRAW-
EDISON COMPANY, A DELAWARE CORPORATION, AND MOTEL 6 OPERATING L.P.,
A DELAWARE LIMITED PARTNERSHIP, FOR THE PURPOSES OF INGRESS AND
EGRESS.
Elk Grove 21
1529222069 Page: 5 of 9
EXHIBIT B
Permitted Title Exceptions
I. TAXES FOR THE YEAR 2015.
2. BUILDING LINES AS SHOWN ON THE PLAT OF HIGGINS INDUSTRIAL PARK,
UNIT 112 RECORDED SEPTEMBER 4, 1973 AS DOCUMENT NUMBER 22463925 OVER
THE SOUTH AND EAST 25 FEET OF LOT 163.
(AFFECTS PARCEL 1)
3. EASEMENTS FOR PUBLIC UTILITIES AS SHOWN ON THE PLAT OF
SUBDIVISION RECORDED SEPTEMBER 4, 1973 AS DOCUMENT 22463925 OVER THE
WEST 15 FEET, THE SOUTH 25 FEET, THE EAST 25 FEET AND THE NORTH 15 FEET
OF THE LAND.
(AFFECTS PARCEL 1)
4. MUTUAL AND RECIPROCAL EASEMENTS FOR INGRESS AND EGRESS
OVER, UNDER AND ACROSS THE EAST 33 FEET OF THE NORTH 535.00 FEET OF THE
LAND, BEING THAT PART OF THE EAST 33 FEET OF THE LAND LYING NORTH OF
HALO DRIVE, AND OTHER PROPERTY, AS GRANTED IN THE RECIPROCAL
EASEMENT AGREEMENT EXECUTED BY AND BETWEEN SIXPENCE INN OF ELK
GROVE VILLAGE, A PARTNERSHIP; MCGRAW-EDISON COMPANY, A DELAWARE
CORPORATION AND MOTEL 6 OPERATING L.P., A DELAWARE LIMITED
PARTNERSHIP, RECORDED OCTOBER 19, 1994 AS DOCUMENT 94895028, AND THE
TERMS AND PROVISIONS THEREIN CONTAINED.
AMENDED RECIPROCAL EASEMENT AGREEMENT EXECUTED BY AND BETWEEN
SIXPENCE INN OF ELK GROVE VILLAGE, A PARTNERSHIP, MCGRAW-EDISON
COMPANY, A DELAWARE CORPORATION AND MOTEL 6 OPERATING L.P., A
DELAWARE LIMITED PARTNERSHIP, RECORDED SEPTEMBER 28, 1995 AS
DOCUMENT 95661359 WHICH AMONG OTHER MATTERS AMENDS THE LEGAL
DESCRIPTION OVER THE LAND TO READ: THE EAST 33 FEET OF THE NORTH 535
FEET OF LOT 163, BEING THAT PART OF THE EAST 33 FEET OF LOT 163 LYING
NORTH OF HALO DRIVE; AND ALSO AMENDS THE LEGAL OVER OTHER PROPERTY
NOT NOW IN QUESTION.
5. EASEMENT IN FAVOR OF THE COMMONWEALTH EDISON COMPANY, THE
ILLINOIS BELL TELEPHONE COMPANY AND NORTHERN ILLINOIS GAS COMPANY,
AND ITS/THEIR RESPECTIVE SUCCESSORS AND ASSIGNS, TO INSTALL, OPERATE
AND MAINTAIN ALL EQUIPMENT NECESSARY FOR THE PURPOSE OF SERVING
THE LAND AND OTHER PROPERTY, TOGETHER WITH THE RIGHT OF ACCESS TO
SAID EQUIPMENT, AND THE PROVISIONS RELATING THERETO CONTAINED IN THE
PLAT RECORDED/FILED AS DOCUMENT NO. 22463925, AFFECTING THE WEST 15
Elk Grove 21
1529222069 Page: 6 of 9
Exhibit B, continued:
FEET, THE SOUTH 25 FEET, THE EAST 25 FEET AND THE NORTH 15 FEET OF THE
LAND.
(AFFECTS PARCEL 1)
6. EASEMENT FOR SEWER AND WATER PURPOSES AS SHOWN ON THE PLAT
OF SUBDIVISION AFORESAID OVER THE SOUTH 25 FEET AND THE EAST 25 FEET
OF THE LAND.
(AFFECTS PARCEL 1)
7. RESOLUTION NUMBER 25-96 RECORDED MAY 7, 1996 AS DOCUMENT
96346104 AUTHORIZING THE EXECUTION OF A SEWER AND STORM WATER
MAINTENANCE AGREEMENT BETWEEN THE VILLAGE OF ELK GROVE AND
OSTROM FAMILY LIMITED PARTNERSHIP (1501 OAKTON STREET, METAL IMPACT
CORPORATION).
AFFECTS THE NORTH 730 FEET OF THE WEST 15 FEET OF THE LAND. (AFFECTS
PARCEL I)
8. (A) TERMS, PROVISIONS, AND CONDITIONS RELATING TO THE
EASEMENT DESCRIBED AS PARCEL 2 CONTAINED IN THE INSTRUMENTS
CONTAINING SAID EASEMENTS.
(B) RIGHTS OF THE ADJOINING OWNER OR OWNERS TO THE CONCURRENT USE
OF SAID EASEMENT,
9. ENCROACHMENT OF THE CURB LOCATED MAINLY ON THE LAND ONTO
THE PROPERTY EAST AND ADJOINING BY APPROXIMATELY 0.30 FEET, AS SHOWN
ON PLAT OF SURVEY PREPARED BY ACCURATE SURVEY SERVICE, DATED
DECEMBER 1, 2005,PROJECT NO. 05-361.
(AFFECTS PARCEL 1)
10. TERMS, CONDITIONS AND LIMITATIONS CONTAINED IN THE NO FURTHER
REMEDIATION LETTER ISSUED BY THE ILLINOIS ENVIRONMENTAL PROTECTION
AGENCY AND RECORDED SEPTEMBER 22,2003 AS DOCUMENT 0326510085,
11. EASEMENTS FOR PUBLIC UTILITIES, CABLE TV, SEWER AND WATER
DRAINAGE, INGRESS AND EGRESS AND MAINTENANCE OF SAME AS SHOWN ON
PLAT OF SUBDIVISION RECORDED AS DOCUMENT 27157786.
(AFFECTS PARCEL 2)
12. EASEMENT FOR PUBLIC UTILITIES OVER THE NORTH 15 FEET, THE WEST 15
FEET, THE SOUTH 15 FEET AND THE EAST 25 FEET OF THE LAND AS SHOWN ON
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Exhibit B, continued:
PLAT OF HIGGINS INDUSTRIAL PARK UNIT 112 SUBDIVISION AFORESAID
RECORDED AS DOCUMENT 22463925.
(AFFECTS PARCEL 2)
13. EASEMENT OVER THE NORTH 15 FEET, THE WEST I5 FEET, THE SOUTH 15
FEET AND THE EAST 25 FEET OF THE LAND FOR THE PURPOSE OF INSTALLING
AND MAINTAINING ALL EQUIPMENT NECESSARY TO SERVE THE SUBDIVISION
AND OTHER LAND WITH GAS SERVICE, TOGETHER WITH RIGHT OF ACCESS TO
SAID EQUIPMENT AS CREATED BY GRANT TO NORTHERN ILLINOIS GAS
COMPANY AND ITS RESPECTIVE SUCCESSORS AND ASSIGNS AND AS SHOWN ON
THE PLAT OF SUBDIVISION RECORDED SEPTEMBER 4. 1973 AS DOCUMENT
22463925.
(AFFECTS PARCEL 2)
14, EASEMENT OVER THE NORTH 15 FEET, THE WEST 15 FEET, THE SOUTH 15
FEET AND THE EAST 25 FEET OF THE LAND FOR THE PURPOSE OF INSTALLING
AND MAINTAINING ALL EQUIPMENT NECESSARY TO SERVE THE SUBDIVISION
AND OTHER LAND WITH TELEPHONE AND ELECTRICAL SERVICE, TOGETHER
WITH THE RIGHT TO OVERHANG AERIAL SERVICE WIRES AND THE RIGHT OF
ACCESS TO SUCH WIRES, AS CREATED BY GRANT TO THE ILLINOIS BELL
TELEPHONE COMPANY AND THE COMMONWEALTH EDISON COMPANY AND
THEIR RESPECTIVE SUCCESSORS AND ASSIGNS AND AS SHOWN ON THE PLAT OF
SUBDIVISION RECORDED SEPTEMBER 4, 1973 AS DOCUMENT 22463925.
(AFFECTS PARCEL 2)
15. EASEMENTS FOR SEWER AND WATER PURPOSES AS SHOWN ON PLAT OF
SUBDIVISION RECORDED SEPTEMBER 4, 1973 AS DOCUMENT 22463925 OVER
THE NORTH 25 FEET AND THE EAST 25 FEET OF LOT 161 AND OVER THE EAST 25
FEET OF LOT 162.
(AFFECTS PARCEL 2)
16. A 25 FOOT FOOT BUILDING LINE AS SHOWN ON PLAT OF HIGGINS
INDUSTRIAL UNIT 112 AFORESAID RECORDED SEPTEMBER 4, 1973 AS
DOCUMENT 22463925.
(AFFECTS PARCEL 2)
17. INGRESS AND EGRESS AND ACCESS EASEMENT PROVISIONS
CONTAINED IN PLAT OF SUBDIVISION RECORDED AS DOCUMENT 85192910.
(AFFECTS PARCEL 2)
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Exhibit B,continued:
18. COVENANTS AND RESTRICTIONS CONTAINED IN WARRANTY DEED MADE
BY MCGRAW-EDISON COMPANY, CORPORATION DELAWARE TO SIXPENSE INN
OF ELK GROVE VILLAGE, A PARTNERSHIP DATED AUGUST 3, 1985 AND
RECORDED SEPTEMBER 3, 1985 AS DOCUMENT 85171195 PROVIDING THE
GRANTOR WITH THE RIGHT TO REVIEW AND APPROVE THE SITE PLAN AND
PLANS AND SPECIFICATIONS FOR CONSTRUCTION OF EACH FACADE OF EACH
BUILDING WHICH GRANTEE, ITS HEIRS, SUCCESSORS, ASSIGNS, LESSEES AND
GRANTEES PROPOSE TO BUILD ON THE REAL ESTATE, AND SUCH APPROVAL
SHALL NOT BE UNREASONABLY WITHHELD. NO FACADE OF ANY SUCH
BUILDING FACING A STREET SHALL CONSIST OF LESS THAN FIFTY PERCENT
FACE BRICK.
NOTE: SAID INSTRUMENT CONTAINS NO PROVISION FOR A FORFEITURE OF OR
REVERSION OF TITLE IN CASE OF BREACH OF CONDITION.
(AFFECTS PARCEL 2)
19. STATEMENT OF COMMITMENT BY SIXPENCE INN. TO CONSTRUCT
PUBLIC SIDEWALK AND TO PAY PRO RATA SHARE OF THE COST RECORDED JUNE
18, ±985 AS DOCUMENT 85064627.
(AFFECTS PARCEL 2)
20. NOTICE OF REQUIREMENTS FOR STORM WATER DETENTION RECORDED
DECEMBER 13, 1985 AS DOCUMENT 85323515.
(AFFECTS PARCEL2)
21, 25 FOOT BUILDING LINE AS SHOWN ON SIXPENCE INN SUBDIVISION UNIT 2
PLAT OF SUBDIVISION RECORDED AS DOCUMENT 85192910 OVER THE NORTH
LINE OF THE LAND.
(AFFECTS PARCEL 2)
22. EASEMENT IN FAVOR OF THE ILLINOIS BELL, TELEPHONE COMPANY, THE
COMMONWEALTH EDISON COMPANY AND NORTHERN ILLINOIS GAS COMPANY,
AND ITS/THEIR RESPECTIVE SUCCESSORS AND ASSIGNS, TO INSTALL, OPERATE
AND MAINTAIN ALL EQUIPMENT NECESSARY FOR THE PURPOSE OF SERVING
THE LAND AND OTHER PROPERTY, TOGETHER WITH THE RIGHT OF ACCESS TO
SAID EQUIPMENT,AND THE PROVISIONS RELATING THERETO CONTAINED IN THE
PLAT RECORDED/FILED AS DOCUMENT NO. 85192910, AFFECTING THE EAST 15
FEET OF THE SOUTH 320 FEET OF THE LAND.
(AFFECTS PARCEL 2)
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Exhibit B, continued:
23. GRANT DATED OCTOBER 14, 1960 AND RECORDED APRIL 27, 1962 AS
DOCUMENT 18459947 MADE BY HILLY KNAACK TO THE ILLINOIS BELL
TELEPHONE COMPANY, TO CONSTRUCT, RECONSTRUCT, OPERATE AND
MAINTAIN LINES OF TELEPHONE AND TELEGRAPH CONSISTING OF SUCH WIRES,
CABLES, CONDUITS AND OTHER FIXTURES AS THE GRANTEE MAY FROM TIME
TO TIME REQUIRE, UPON, ALONG AND UNDERPART OF OAKTON ROAD.
(MAY AFFECT THE NORTH LINE OF THE LAND).
(AFFECTS PARCEL 2)
24. NOTE ON THE PLAT OF SIXPENCE INN RECORDED JULY 3, 1984 AS
DOCUMENT 27157786 THAT LOTS 1 AND 2 ARE SUBJECT TO RECIPROCAL
EASEMENT FOR INGRESS AND EGRESS, DRAINAGE WITH INTEGRAL
MAINTENANCE AGREEMENT. (AFFECTS PARCEL2)
25. EASEMENTS AS SHOWN ON PLAT OF SIXPENCE INN SUBDIVISION
RECORDED JULY 3, 1984 AS DOCUMENT 27157786, AND AS SHOWN ON PLAT OF
SIXPENCE INN SUBDIVISION UNIT 2 RECORDED SEPTEMBER 17,
1985 AS DOCUMENT 85192910 AS FOLLOWS:
1. 25 FOOT EASEMENT FOR UNDERGROUND PUBLIC UTILITIES,
CABLE TV, SEWER, WATER AND DRAINAGE OVER THE NORTHERLY
LINES OF LOTS 1 AND 2 AND THE EAST LINE OF LOT 2;
2. EASEMENT FOR INGRESS, EGRESS, DRAINAGE AND MAINTENANCE
OVER AN IRREGULAR PORTION OF LOT I (SEE PLAT FOR SPECIFIC
LOCATION), 12 FEET OVER THE WESTERLY AND MOST SOUTHERLY NORTH
LINE, 24 FEET OVER THE NORTH 24 FEET OF THE SOUTH 39 FEET AND THE
WEST 24 FEET OF THE EAST 69 FEET, AND OVER AN IRREGULAR PORTION
OF THE EAST 45 FEET OF THE SOUTH 121.78 FEET OF LOT 2 (SEE PLAT FOR
SPECIFIC LOCATION);
3. 10 FOOT EASEMENT FOR PUBLIC UTILITIES, DRAINAGE AND CABLE
TV OVER THE EAST LINES AND MOST NORTHERLY SOUTH
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