RESOLUTION NO. 6545
A Resolution authorizing the sale and conveyance of certain land AND PROPERTY by the City of LAWRENCE, KANSAS to WHITE PROPERTY MANAGEMENT, L.L.C.
WHEREAS, pursuant to Ordinance No. 4983 (the “Ordinance”) passed October 9, 1978 by the City of Lawrence, Kansas (the “City”), the City has previously issued its Industrial Revenue Bonds, Series A, 1978 dated November 15, 1978 (the "Bonds") to finance the cost of constructing a certain facility to be used for manufacturing purposes (the "Project") and leased to the White Family Trust under agreement dated August 29, 1978 (the "Tenant"), pursuant to a Lease dated as of November 15, 1978 between the City and the Tenant (the "Lease"); and
WHEREAS, the Tenant has exercised its option to purchase the Project under the Lease; and
WHEREAS, the Tenant has made all the payments of Basic Rent and Additional Rent pursuant to the Lease, all principal and interest on the Bonds have been paid or payment has been provided for and Tenant has made all payments required to exercise its option to purchase the Project; and
WHEREAS, the Tenant has provided the City written notice of its intent to exercise its option to purchase the Project; and
WHEREAS, the Tenant has requested that the Project be transferred to White Property Management, L.L.C.
NOW THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF LAWRENCE, KANSAS:
Section 1. The Mayor and City Clerk are authorized and directed to execute and deliver a special warranty deed substantially in the form set forth on Exhibit A transferring title to the Project to the Tenant’s designee. Such deed shall be delivered to the Tenant forthwith upon signature as herein authorized. The Mayor and City Clerk are hereby further authorized and directed to execute a Release of Lease, substantially in the form attached hereto as Exhibit B, and deliver same to the Trustee for subsequent delivery to the Tenant’s designee.
Section 2. The Mayor and City Clerk are hereby further authorized and directed to sign such other instruments and certificates as shall be necessary and desirable in connection with this Resolution, and are hereby further authorized to take such further actions as may be necessary to accomplish the purposes of this Resolution.
Section 3. The Trustee is hereby directed to take all action necessary to accomplish the purpose of this Resolution.
ADOPTED by the governing body of the City of Lawrence, Kansas this day of ______________, 2004.
CITY OF LAWRENCE, KANSAS
By:______________________________________
Mike Rundle, Mayor
[SEAL]
Attest:
By: __________________________________
Frank S. Reeb, City Clerk
EXHIBIT B
RELEASE OF LEASE
WHEREAS, the City of Lawrence, Kansas (the "City") has heretofore entered into a Lease dated as of November 15, 1978 (the "Lease") between the City and White Property Management, L.L.C. (the "Tenant"), notice of which is recorded in the office of the Douglas County Register of Deeds; and
WHEREAS, the City assigned its interest in the Lease to the corporate predecessor of Douglas County Bank, Lawrence, Kansas acting as trustee for the City and others for purpose of enforcement of the Tenant's covenants under the Lease; and
WHEREAS, the Tenant has exercised its option to purchase the facility described in the Lease (the "Project") from the City; and
WHEREAS, all of the Tenant's obligations to the City under the Lease have been satisfied;
THEREFORE, the property described in the attached Schedule I is hereby released from any claim of the City and the Trustee under the Lease.
CITY OF LAWRENCE, KANSAS
By: ______________________
Mike Rundle, Mayor
(SEAL)
ATTEST:
By : _________________________________________
Frank S. Reeb, City Clerk
ACKNOWLEDGMENT
STATE OF KANSAS )
) SS:
COUNTY OF DOUGLAS )
The foregoing instrument was acknowledged before me this ___ day of ____________, 2004 byMike Rundle, Mayor, and Frank S. Reeb, City Clerk, respectively of the City of Lawrence, Kansas a municipal corporation, on behalf of said corporation.
By___________________________________
Notary Public
My appointment expires:__________________________
DOUGLAS COUNTY BANK
[SEAL]
By:_________________________________
Name:
Title:
ATTEST:
__________________________
Name:
Title:
STATE OF KANSAS )
) SS:
COUNTY OF DOUGLAS )
This instrument was acknowledged before me this ___ day of _________________, 2004 by ________________ as __________________ and trust officer of the Douglas County Bank, Lawrence, Kansas, a state banking corporation.
(SEAL)
__________________________________________
Notary Public
My appointment expires: _____________________________
date
SCHEDULE I
PROPERTY SUBJECT TO LEASE
(a) The following described real estate located in Douglas County, Kansas, to wit:
Beginning at the Northwest corner of Lot 18, Lawrence Industrial Park, an Addition in the City of Lawrence, Kansas, thence N.75°22’20”E., 222.58 feet; thence S.89°32’E., 108.06 feet; thence S.21°01’02”E., 224.19 feet; thence S.68°58’58”W., 330.0 feet, more or less to a point on the West line of said Lot 18, said point being 288.0 feet Southeasterly of the point of beginning; thence Northwesterly along the West line of said Lot, 288.0 feet to the point of beginning, in Douglas County, Kansas,
said real property constituting the "Land" as referred to in said Lease.