HomeMy WebLinkAboutRESOLUTIONS-2002-067-R-02n
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9/3/02
67-R-02
A RESOLUTION
Authorizing the City Manager to Execute
The Third Amendment to Redevelopment
Agreement with 1880 Oak, LLC
WHEREAS, the City of Evanston and 1880 Oak LLC have entered into a
Redevelopment Agreement dated April 8, 1999, as amended by the First Amendment to
Redevelopment Agreement dated December 20, 1999, and amended by Second
Amendment dated August 13, 2001; and
WHEREAS, the City of Evanston and 1880 Oak LLC desire to amend the
Redevelopment Agreement as herein provided,
• NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF EVANSTON, COOK COUNTY, ILLINOIS:
SECTION 1: That the City Manager is hereby authorized and directed to sign on
behalf of the City the Third Amendment to Redevelopment Agreement with 1880 Oak
LLC in substantial conformity with that attached hereto as Exhibit A and made a part
hereof.
SECTION 2: That the City Manager is hereby authorized and directed to
negotiate any additional terms and conditions as may be determined to be in the best
interests of the City.
SECTION 3: That this Resolution shall be in full force and effect from and after
0 its passage and approval in the manner provided by law.
67-R-02
ATTEST:
lerk
Adopted:., 200
,200
)'-Lorraine H. Morton, Mayor •
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EXHIBIT A
Tii RD AMENDMENT TO
R.EDEVELOPIYNT AGREEMENT
TICS THIRD AMENDMENT TO REDEVELOPMENT AGREEMENT (the
"Assignment') is eater d into as ofthe 20TN day of August, 2002, between 1881 Oak LLC, a Illinois
limited Iiability company, ("1881 ") and the City of Evanston, Illinois, a municipal corporation (the
„City")
RECITALS
A. The City and 1880 Oak LLC, an Illinois limited liability company (he -einafter
referred to as "188011) tered into that certain Redevelopment Agreement dated April 8, 1999, as
amended by that ce ' First Amendment to the Redevelopment Agreement dated Decer�ber 20,
1999 and by that ce 'n Assignment, Assumption and Second Amendment to Redevelopment
Agreement entered into as of the 2nd day of August, 2001, between1880, 1881 and the City (said
Redevelopment as so amended is hereinafter referred to as the "Agreement"). j
B. 1881 is the successor in interest to 1880.
C. The part es desire to amend the Redevelopment Agreement as herein prov ded.
D. Initially capitalized terms used but not defined herein shall have the meanings
• ascribed to such terms i 1 the Redevelopment Agreement.
NOW, THEREFORE, in consideration of the'premises set forth above, and the.' mutual
agreement hereinafter set forth below, it is hereby agreed by and between the parties Hereto as
follows:
2. INCORPORATION. The representations set forth in the foregoing rentals 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 1.
3. EXTEN ION. The parties hereto agree to extend the Foundation Date to (October
31, 2002.
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4. RE DER IN EFFECT. The remaining terms and provisiom:i of the
Redevelopment Agreemmt shall remain in full force and effect.
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5. DUPLICATE ORCGINALS. This Amendment may be executed in two �or more
counterparts, each of which, is deemed to be an original.
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PRAHDALLJ4690C.S Aur.*120, 2D02 (1Afpn
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6. CAPTIONS. The captions in this Amendment are inserted for convenii mce of
reference only, and in nr. way define, describe or limit the scope or intent of this Amendment or any •
of the provisions thereo-f
7. TIME. Time is of the essence of this Amendment.
rN WITNESS WHEREOF, the parties have caused this Amendment to be execut :d as of
the day and year above written.
81: 1881 OAK LLC `
By: l�
Name: St en .ardel
Title: Manager
TY CITY OF EV STON
sue. �' .
By -
Name: Roger Crum
Title: City Manager •
BRANDALL46M42.5 Auquu 20, 300: (2l1 pm) -2-
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