HomeMy WebLinkAboutRESOLUTIONS-2000-072-R-007120/00
• 72-R-00
A RESOLUTION
Authorizing the City Manager to Execute a
Release of Mortgage for Properties known as
1019-1035 University Place and
1000-1014 Emerson Street, Evanston, Illinois
WHEREAS, the Shaw -owned buildings at 1019-1035 University Place and
1000-1014 Emerson Street will be sold through CHS 1033 University Associates
Limited Partnership and CHS Evanston One Associates Limited Partnership to
Bilger Corporation (Scribcor); and
WHEREAS, Northwestern University Evanston Research Park, Inc.
(NUERP), owner of the land at the above addresses, will release title of the land
• to Bilger Corporation; and
WHEREAS, the City of Evanston, mortgagor of the land at the above
addresses, will release its mortgage to NUERP in exchange for $900,000 in
cash; and
WHEREAS, the properties will retain covenants preventing munitions and
removal from the tax rolls without City consent; and
WHEREAS, the City Council has determined it is in the best interest of the
City to release said mortgage,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF EVANSTON, COOK COUNTY, ILLINOIS:
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72-R-00
SECTION 1: That the City Manager is hereby authorized and directed to
sign, and the City Clerk hereby authorized and directed to attest on behalf of the •
City, a Release of Mortgage for certain property commonly known as 1019-1035
University Place and 1000-1014 Emerson Street, Evanston, Illinois attached as
Exhibit A.
SECTION 2: That the City Manager is hereby authorized and directed to
negotiate any additional conditions or terms on the Release of Mortgage for
aforesaid properties as may be determined in the best interest of the City.
SECTION 3: That this Resolution shall be in full force and effect from and
after the date of its passage and approval in the manner provided by law.
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Adopted: , ti,`,; �% 00
Mayor
ATTEST: 1
C
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Exhibit A to 72-R-00
RELEASE OF MORTGAGE
BY CORPORATION (ILLINOIS)
FOR THE PROTECTION OF
THE OWNER, THIS RELEASE
SHALL BE FILED WITH THE
RECORDER OF DEEDS OR
THE REGISTRAR OF TITLES IN
WHOSE OFFICE THE MORTGAGE
OR DEED OF TRUST WAS FILED.
[Space above for recorder's use]
KNOW ALL MEN BY THESE PRESENTS, that CITY OF EVANSTON,
a municipal corporation, for and in consideration of the satisfaction of certain of the
obligations under the Purchase Money Mortgage, and of the sum of one dollar, the receipt
whereof is hereby acknowledged, does hereby DEMISE, RELEASE, CONVEY and
• QUIT -CLAIM unto Northwestern University/Evanston Research Park, Inc., successor -in -
interest to TOPCORP, Inc., whose address is 820 Church Street, Suite 300, Evanston,
Illinois 60201, its heirs, legal representatives and assigns ("Mort2a1?or"), all of the right,
title, interest, claim or demand whatsoever it may have acquired in, through or by that
certain Purchase Money Mortgage, Assignment of Leases and Rents, Security Agreement
and Financing Statement, dated as of March 25, 1988 and recorded March 25, 1988 as
Document 88124137 in the land records of Cook County, Illinois ("Land Records"), as
amended by First Amendment to Purchase Money Mortgage, Assignment of Leases and
Rents, Security Agreement and Financing Statement, dated as of December 7, 1989 and
recorded December 8, 1989 as Document 89588165 in the Land Records and as further
amended by Second Amendment to Purchase Money Mortgage, Assignment of Leases
and Rents, Security Agreement and Financing Statement, dated as of April 13, 1990 and
recorded April 17, 1990 as Document 90172323 in the Land Records (collectively, the
"Purchase Monev Mortaaee"), to the premises therein described as follows, situated in
the County of Cook, State of Illinois, to wit:
See Exhibit A attached hereto and incorporated herein by this reference.
together with all the appurtenances and privileges thereunto belonging or appertaining.
0 220148.01-Chicago S2A
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Commonlv Known As: 1019-1035 University Place, Evanston, Illinois
(1033 University Place, Evanston, Illinois)
Permanent Index Numbers (PINs): 11-18-112-021
11-18-112-022
11-18-112-023
11-18-112-024
11-18-112-025
11-18-112-026
Commonlv Known As: 1000-1014 Emerson, Evanston, Illinois
Permanent Index Numbers (PINs): 11-18-112-015
11-18-112-016
11-18-112-017
11-18-112-018
11-18-112-038
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220148.01-Chicago S2A
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Witness my hand and seal, this day of , 2000.
CITY OF EVANSTON, a municipal corporation
By:
Name:
Its:
[CORPORATE SEAL]
Attest:
Name:
is
Title:
This instrument was prep_ ared bv:
Nancy M. Olson, Esq.
Skadden, Arps, Slate, Meagher &
Flom (Illinois)
333 West Wacker Drive, Suite 2100
Chicago, Illinois 60606
0 220148.01-Chicago S2A
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ACKNOWLEDGMENT
STATE OF )
SS.
COUNTY OF )
I, , a notary public in and for said County, in
the State aforesaid, DO HEREBY CERTIFY that ,
personally known (or proven) to me to be the of The
City of Evanston, a municipal corporation, and ,
personally known to me to be the same persons whose names are subscribed to the
foregoing instrument, appeared before me this day in person and acknowledged that such
and respectively, of said corporation
they signed and delivered the said instrument pursuant to proper authority given by the
City Council of said corporation as their free and voluntary act, and as the free and
voluntary act of said corporation, for the uses and purposes therein set forth.
GIVEN under my hand and notarial seal this day of
12000. •
My commission expires:
Notary Public
[SEAL]
220148.0 1 -Chicago S2A is
EXHIBIT A
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LOT 17 (EXCEPT THE WEST 26 FEET THEREOF), ALL OF LOTS 18, 19 AND 20, AND
THE WEST 38 FEET OF LOT 21, TOGETHER WITH THE SOUTH HALF OF THE VACATED
ALLEY LYING NORTH OF AND ADJACENT THERETO, ALL IN BLOCK 1 IN CIRCUIT COURT
SUBDIVISION IN PARTITION OF LOT 22 IN COUNTY CLERK'S DIVISION OF
UNSUBDIVIDED LANDS, IN SECTION 18, TOWNSHIP 41 NORTH, RANGE 14 EAST OF THE
THIRD PRINCIPAL MERIDIAN IN COOK COUNTY, ILLINOIS.
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