HomeMy WebLinkAboutTermination of Assignment of Lease/0102300000 10/17/2012 1619604
REGISTER'S OFFICE
TERMINATION OF WINNEBAGO COUNTY, WI
Assignment of Lease RECORDED ON
Document Number Document Title 10/31/2012 11:16 AM
This TERMINATION OF ASSIGNMENT OF LEASE (the
"Termination Agreement"), entered into as of the cir``day of JULIE PAGEL
REGISTER OF DEEDS
October, 2012, by and between River Front Senior
Apartments, LLC,a Wisconsin limited liability company,whose RECORDING FEE 30.00
principal office is located at 230 Ohio Street, Suite 200,
Oshkosh, Wisconsin 54902 ("Borrower"), Wisconsin Housing
and Economic Development Authority, a Wisconsin public
body corporate and politic, whose principal office is located at
201 West Washington Avenue, Suite 700, Madison, Wisconsin
53703, ("Lender"), and the City of Oshkosh, a Wisconsin Recording Area
Name and Return Address
Municipal Corporation, and the City of Oshkosh City Attorney's Office
Redevelopment Authority, (collectively, "City") by virtue of 215 Church Ave.P.O.Box 1130
being the Landlord of the Property (collectively, Oshkosh,WI 54903-1130
"Parties")(individually, "Party"). 90102300000
Prnnerty Identification Number
The Parties entered into an Assignment of Lease
agreement dated May 12, 2010, and recorded with the
Winnebago County Register of Deeds on May 16, 2011 as
Document Number 1571900 ("Assignment Agreement"). The
Assignment Agreement encumbers the property commonly
known as 475 Marion Road, Oshkosh, Wisconsin 54902 and
more particularly described on Exhibit A attached hereto (the
"Property").
As of the date hereof, City is conveying a fee simple interest in the Property to Borrower and as a
result, the Parties desire to terminate the Assignment Agreement.
THEREFORE, in consideration of the mutual promises contained herein, the parties agree as
follows:
1. The Assignment Agreement is terminated and released from the Property.
2. Notwithstanding any actual or implied provision of this Termination Agreement, it is not the
intent of the Parties to alter, affect, change, or modify any other agreements,
understandings, or contracts between Lender, Borrower, and/or other entities.
3. Lender acknowledges that it has not exercised its contingent rights as outlined in the
Assignment Agreement and, therefore, any obligations to quit, surrender, or return the
property to the City do not apply.
4. This Termination Agreement shall be for the benefit of, and shall be binding upon, the
Parties and their respective heirs, executors, administrators, and assigns.
5. There shall be no termination payment or compensation owed by any Party to this
TERMINATION OF
Assignment of Lease
Document Number Document Title ,-,,
V ! tic
This TERMINATION OF ASSIGNMENT OF LEASE (the 141. (0
"Termination Agreement"), entered into as of the Or'day of _ - a' Il`.II;�Ctrn?
October, 2012, by and between River Front Senior n
Apartments, LLC, a Wisconsin limited liability company,whose
principal office is located at 230 Ohio Street, Suite 200,
Oshkosh, Wisconsin 54902 ("Borrower"), Wisconsin Housing
and Economic Development Authority, a Wisconsin public
body corporate and politic, whose principal office is located at
201 West Washington Avenue, Suite 700, Madison, Wisconsin
53703, ("Lender"), and the City of Oshkosh, a Wisconsin Recording Area
Municipal Corporation, and the City of Oshkosh Name and Return Address
p p ty City Attorney's Office
Redevelopment Authority, (collectively, "City") by virtue of 215 Church Ave. P.O. Box 1130
being the Landlord of the Property (collectively, Oshkosh,WI 54903-1130
"Parties")(individually, "Party").
90102300000
Pronerty Identification Number
The Parties entered into an Assignment of Lease
agreement dated May 12, 2010, and recorded with the
Winnebago County Register of Deeds on May 16, 2011 as
Document Number 1571900 ("Assignment Agreement"). The
Assignment Agreement encumbers the property commonly
known as 475 Marion Road, Oshkosh, Wisconsin 54902 and
more particularly described on Exhibit A attached hereto (the
"Property").
As of the date hereof, City is conveying a fee simple interest in the Property to Borrower and as a
result, the Parties desire to terminate the Assignment Agreement.
THEREFORE, in consideration of the mutual promises contained herein, the parties agree as
follows:
1. The Assignment Agreement is terminated and released from the Property.
2. Notwithstanding any actual or implied provision of this Termination Agreement, it is not the
intent of the Parties to alter, affect, change, or modify any other agreements,
understandings, or contracts between Lender, Borrower, and/or other entities.
3. Lender acknowledges that it has not exercised its contingent rights as outlined in the
Assignment Agreement and, therefore, any obligations to quit, surrender, or return the
property to the City do not apply.
4. This Termination Agreement shall be for the benefit of, and shall be binding upon, the
Parties and their respective heirs, executors, administrators, and assigns.
5. There shall be no termination payment or compensation owed by any Party to this
Termination Agreement.
6. This Termination Agreement may be executed in multiple counterparts.
[SIGNATURE PAGES FOLLOW]
BORROWER SIGNATURE PAGE TO TERMINATION OF ASSIGNMENT OF LEASE:
(wv+soA"
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
above written.
BORROWER:
River Front Senior Apartments, LLC,
a Wisconsin limited liability company
By: River Front Senior Apartments MM, LLC,
a Wisconsin limited liability company,
Manager
By: Oshkosh River Development, LLC,
a Wisconsin limited liability company,
Sole Member
By:
Andrew J. Dumke
Managing Member
STATE OF WISCONSIN )
) ss
V.;,',(\v,4, o COUNTY )
Personally came before me this \\ day of Eck-* e(, 2012, the above-named Andrew J.
Dumke, as Managing Member of Oshkosh River Development, LLC, Sole Member of River Front
Senior Apartments MM, LLC, Manager of River Front Senior Apartments, LLC , to me known to be the
person who executed the foregoing instrument and acknowledged the same.
C vtc, e J aOte �
Notary Public, State of Wisconsin
My Commission expires: CULcr- 7 . C` \'�
LENDER SIGNATURE PAGE TO TERMINATION OF ASSIGNMENT OF LEASE:
LENDER:
WISCONSIN HOUSING AND ECONOMIC
DEVELOPMENT AUTHORITY
By ii/Itet-Pall'—
Name Mary R. Wright
Its Director. Multifamily Housing
STATE OF WISCONSIN )
ss
DANE COUNTY )
Personally came before me this 17th day of ct be 2012, the above-named
Mary R. Wright as Director. MultifamilyIbus IN Wisconsin Housing and Economic Development
Authority, to me known to be the person who executed the •regoing instrument and acknowledged
the same.
,‘\\\-t � ;/COI , /4 i
*...A-1\%;, Notary Public, State of Wisconsin
OTAR) � My Commission expires: May 8, 2016
PUBLIC /2
�iil/lllll11 O\•
CITY SIGNATURE PAGE TO TERMINATION OF ASSIGNMENT OF LEASE:
CITY OF OSHKOSH CITY OF OSHKOSH R EVELOPMENT
/( 1-4/117.-' AUTHORI�,IG—
By: /11" 1: , By:
Mark A. Rohioff, City Man ager T omas Belter, Chairman
Pamela R. Ubrig, City Cit Clerk . Allen Davis, III, Executive Director
STATE OF WISCONSIN )
) ss
WINNEBAGO COUNTY )
Personally came before me this a2t day of .1 L€4r-, 2012, the above-named Mark A.
Rohioff and Pamela R. Ubrig, to me known to be the perso s who executed the foregoing instrument
and acknowledged the same.
r t C � r ,C to, 1-
011 - v& P b1iNor
Notary Public, State of Wisconsin
My Commission expires:
STATE OF WISCONSIN )
) ss
WINNEBAGO COUNTY )
Personally came before me this day of 2012, the above-named Thomas
Belter and H. Allen Davis, Ill, to me known to be the pers ns who executed the foregoing instrument
and acknowledged the same.
Notary Public, State of Wisconsin
My Commission expires:
This document drafted by:
David J.Praska
Assistant City Attorney
Oshkosh,Wisconsin 54903
8544059
EXHIBIT A
LEGAL DESCRIPTION
Lot 1 of Certified Survey Map No. 6408, recorded as Document No. 1520619 of Winnebago County,
Wisconsin, Records. Being a part of Lots 1 & 2 of Certified Survey Map No. 5879 and in the South 1/2 of
the Northeast 1/4 and part of the North '/2 of the Southeast 1/4 of Section 23, Township 18 North, Range 16
East, First Ward, City of Oshkosh, Winnebago County, Wisconsin, more fully described as follows:
Beginning at the Northeast corner of said Lot 1; thence S24 degrees 13' 38" W along the easterly line of
Lot 1, 236.95 feet; thence N62 degrees 10' 26"W, 368.77 feet along the southerly line of Lot 1; thence
N37 degrees 05' 00"E, 219.30 feet along the westerly line of Lot 1 to the southerly right of way of Marion
Road; thence S 65 degrees 46' 22"E, 319.25 feet along said right of way and the northerly line of Lot 1 to
the Point of Beginning.
Tax parcel number: 901-023-0000