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RESOLUTION NO. 72-84 <br /> A RESOLUTION AUTHORIZING THE EXECUTION <br /> OF A MEMORANDUM OF AGREEMENT (NERGE <br /> CENTER PROJECT) <br /> WHEREAS, Nerge Center, an Illinois limited partnership <br /> (the "Borrower" ) wishes to finance the acquisition of a site for <br /> and construction and equipping of an approximately 14, 000 square <br /> foot shopping center to be located 100 feet north of the intersection <br /> of Nerge and Devon on the east side in Elk Grove Village, Illinois <br /> and wishes to have the Village of Elk Grove Village, Illinois (the <br /> "Issuer" ) issue its revenue bonds to finance such acquisition, <br /> construction and equipping; and <br /> WHEREAS, a Memorandum of Agreement has been presented to <br /> the Issuer under the terms of which the Issuer agrees, subject to <br /> the provisions of such Agreement, to issue its revenue bonds to <br /> finance such acquisition, construction and equipping; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES. <br /> OF THE VILLAGE OF ELK GROVE VILLAGE, ILLINOIS, as follows : <br /> SECTION 1: That the President of the Issuer , is hereby <br /> authorized to execute, and the Clerk of the Issuer is hereby <br /> authorized to attest a Memorandum of Agreement with the Borrower <br /> in substantially the form of such agreement appended to this <br /> Resolution as Exhibit A. <br /> SECTION 2 : That the officers and employees of the <br /> Issuer are hereby authorized to take such further action as is <br /> necessary to carry out the intent and purposes of the Memorandum <br /> of Agreement as executed and to issue not to exceed $500, 000 of <br />