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HomeMy WebLinkAboutThe Rivers II/Assignment of Lease/Development Agreement�, II IIIIIIIIIIIIIII I II II IIIII E 2�+ 2 5 8 4 ASSIGNMENT OF LEASE AND Tx:4173067 1695642 DEVELOPMENT AGREEMENT Document NEimber pocument 7itle REGISTER'S OFFICE WINNEBAGO COUNTY, WI RECORDED ON 10/05(2U15 9:18 AM This instrument drafted by: Attorney David J. Prask� Oshkosh, 1�I 5�I903-1130 �ULIE PAGE! REGISTER OF DEEDS �E�CiRDING FEE 30.00 PA{;ES: 49 Recording Area Name and Return Address City Attomey Office P O 8ox 1130 Oshkosh Wl 54903-1130 G Parccl Idcntificltion Numbcrs (PiN} 0102220000 � ' � - r ASSIGNMENT OF LEASE. AND DF�ELOPM�NT AGI2E�MENT THIS ASSIGNMENT �F LEASE AND DEVELOPMENT AGREEMENT (the "Assignment") is made effective this :Z.� day ofsc��_, 2015, by aY�d between THE TtIVERS PHASE II — OSHK�SH, LLC, a VVisconsin limited liability company ("Borrotiver"}, CHOICE BANK, a Bank Chai-tered by tlle State of Wisconsin, ("Lender"), the CITY OF OSHKOSH, a Wiscansiu m�.inicipality, and the CITY OF OSHK(}SH RED�VELOPMENT AUTI�ORITY (collectively, the "City") by virtue of heing the Landtord of the Property (collectively refeiY�ed to as "1'arties") (individually as "Pa�•ty"). RECITALS WHEREAS, the City of Oshkash Redevelopment Authority is the awner of tliat property commonly known 1s Lot 2 of Project - Sot�tli as pai•t of tt�e Marion Road/Pearl Avenue Redeveloprnent Phase II Az•ea and more particularly desa�ibed as pat�t of Lot 2 of Cei�tified Suivey Map 6408 in EYhibit A attached to this Assigiunent {the "Prapei•fy"}, which Cet'tified Survey Map 6408 was recorded �vith the Winnebago County Register af Deeds on October 5, 2009, as Docurrzezxt Number 1520619, and is incorpoi•ateci i��to this Assignment; WHEREAS, the City and Borro�vei• have entez•ed into a Developnient Agreement, dated S'�,y�;y����- � , 2015, foi• the Property (the "Development Agreemen#") which, anlong other things, governs aspects of the developmeut of the Property, a copy of which is aitached hereto as Exhibit B; .Y3'HEI2L'AS, the City and Boa•ro�ver have entei•ed into a Lease Agi•eement, datec� �• ��, 2015, for the Propei•ty {t}ie "Le�se") to allo�v Borro�ve�' to begin development arid construction on the Propei�ty, a copy of wl�ich is attached hez•eto as pai� of Exhibit B; WHEREAS, the Lender is making a loan to t}�e Boi•rowe�• foi• construction of a building on t11e Property (the "Loari"); and YYIIEREAS, in oi•der to mlke such loan, the Lender is requii•ing that the City of Osi�lcosh and the City of C3shkosh Recievelopment Authority both consent to this Assignmea�t, and that Borrower entez•s into this Assigrunent as a conditioz� of obtaining the Loan. NOW TH�R�FORE, in consideration of the mutual covenants contained heeein and othez• good and valuable consideration, tl�e sufficiency and receipt of which is hereby ackna�vledged, the Pa�-ties agree as follows: AGREEMENT L Reeitals. The foregoing recitals are adopted by the Parties, incox•porated herein by reference and made a part of this Assignment. 3uly 8, Zats 2. Assi�n►�ient. As a condition of obtaii�ing the Loan, Bori•ower hereby assigns, gi•ants, and conveys to Lender all of its rights, title, and interest undei• the Lease and the Development Agreement (the Lease liid the Development Agreeme�it collectively referred to as the "Agreeinents") for collateral purposes. The Pa�•ties agree that such assignment is being done solely for the purpose of securing all }�ayments and obligations of the Borrowei• in relation to all loans and loan obligations issued to the Boi7•ower for construction putposes or other purposes in relation to the development or use of the Property, and that the Lender witl not exercise its rights under this Assignment unless Borrower is in default under the terms and conditions of any note, line of credit, loau doctiment, this Assignment, or any other obligatio�i secured by this Assignment, for consti�uctian or development on the Propei�ty. 3. Pa.yment and Pei•form�nce. Borrower agrees to pay to Lender all amounts owed to the Lende�• that are secured by this Assignment in a timely manner, and Borrowei� agrees to strictly perform {1) all of Boi�ro�ver's obligations under this Assignment; {2) all of Boi•rower's obligations under each of the Agreements; and (3) all of Borro�ver's obligations under any agreements between Borrower and Lencier associlted with, oi• related to, the Loan (collectively,. the "Loa�► Docinnents" as such term is defined in the Loan Agreeme��t even date k�e�•ewith between Bori•awer and Lel�der}. So iong as Bori•ower is not in default under the terms of tl�is Assignment and not in deflult of any of the Agreements or Loan Doctiments, Borrowex shall remain in sole possession and cont�•ol of the Property (subject to any rights retained by the City) and be considei•ed to be the Lessee under the Lease. �. Natice. Borrower agrees that at no time sl�all Borrower be in default imder the tei-ms and conditions of any of the Agreernents, and in the event #hat Borl•ower shall be in default of any of tl�e Agreements, or any default under these Agreeinents is about to take place (including, but not limited to, the insolvency of Borcower and other defaults contemplated in Section 12 of ihe Lease, and abanc�otunent by Borrorver contempl�ted in Section I7 of the Lease), Borrower agrees to immediately notify Lender. In the event that Borrowe�• shall be in default of any of ttie Agreements, the City shall reasonably endeavor to notify Lender pursuant to Section 17 belo�v, and shali give Lender a reasonable opportunity to either step into the Agreeme�its, o�• cure such default on account of Boi7�o�ver. Borrower atzd Le�ider agree to notify tt�e City of any default, beyonci any appiicable cure pe�•iod, under any of the Loan Doct�ments. The City shall not be liable to Lender for• any damage sustained by Lendei• due to �t def�uli of Bori•ower under tlie Agreements, City's failu�•e to alert Lender of sucli default, o�• any action Lender does or does not take in response to a de�ault by Borrowe�� undez• the Agreements. S. Warranties and Representations by Borrativer. Bot7•ower here�y represents and warrants tliat as of the date of signing tl�is Assignme�it, the fallowing: a. Orvnership. Borrower is etititled to all rights 1nd titie i�nder the Lease and has not entered into any other loan obligation in relation to the Proper•ty. b. Rigl�t to Assi�n. Borrawer has full right and approval fi•om the City to assign the Agreements for collateral pu�•poses. 3 J�,iy s, Zo�s c. No Prior Assignment. Boirower has not conveyed or previously assigned any right under any of the Agreements p�•ior to entering into this Assignment. d. No Further Transfer. Bot�rower will not sell, assign, encuinber, or otherwise dispose of any of Borrower's rights in the Ag�•eements other than those issiied in this Assignment. 6. Lencier's Ri�ht to Sten Into #lie A�reements. Lender shall have the right, but not the obligation, at at�y time upon a default by Borrowei• under this Assignrzlent or any of the Agreements to: (a) enEer upon and take possession of the Property ucidez• the Lease, (b) to perform Borrower's duties and receive Borro�ver's benefits under the Lease, and (c) to perform Boi•rower's duties and receive Borrower's benefits ti�ader the Development Agreement with the City witli respect to fhe Pz•operty. Tn tlie event of a default by the Borrower, the Lender shall be givei� a reasonable opporttinity to cure any defatilt by the Bfli7�ower under the terms of the Agreen�ents to pa�eserve its collateral intez•est ir� the Property, inclttdiiig, but not limited to the right to purchase tlle Propeiiy, and receive the benefit of tlie City Grant, the WEDC Gr�nt, and the City Contribution (as those te��tns are c�efined in the Development Agreement), all on the saine tex•ans and conditians as the Borrower. Lender may engage any agent or agei�ts as Lelide�• may deem appt•opriate to caz•ry ottt the terms and conditions of those Agreements. To tl�e eYtent that the Lender steps into t11e Lease and/oi• the Development Agreement in place of the Sorrower, the Lende�� specifically assumes all obligations and liabilities of The Borrower pursuant to such Agreement, eYCept as modified in Section I4 below. Prior to stepping into the Lease or the Development Agreement, the Lender shall notify t(ie City in �vriting of its intent to take such action. The Lender's notification to the City shail identify the specific defat�lt(s) of the Borrower and the specifie authority for the Let�der's action. Borrowei• agrees that the City shall be able to reasonably z•ely ttpon the inforination in the Lender's riotice and to take �11 i•easonable actiorls in reliance upon sttcli notice. Borrower releases, and specifica(ly �vaives, all claims for damages under any theory against the City based tipon the City's reasonable reliance upon the Lender's notice. The Lender's rights with respect to the Developinent Agreement shall survive any terminatiou of the Lease ti�igge�•ed by tlie purchase of tl�e Property as conteinplated in the Lease. 7. Lendet•'s Rig;hf to Confer witli flie City. Lender shatl have the right at any time, even though no default may have occtirred undez� this Assignment or any of the Agreements, to confer with the City to determine whether, to the City's knowledge, any defattlt has occiirred in relation to Borrower's pe�•formance under the Agi•eements. 8. Consent by City. The City hereby consents to this Assignment so long 1s Lender daes not e,cercise its rights to assume either of the Agreements until such time as either: (a) tlie Lender is notified of an actu�l default under this Assignment or one or mo�•e of the Agreements; ar (b) the Lender has declared a default under any of the Loan Documer�ts. 9. Le�al E�penses, If any legal action or other proceeding between the Lender and the Boirowe�• is brought for tlae enforceinent of this Assignment, or because of an alleged or .Tuly 8, 2015 actual dispute, breach, default or misrepresentation between Ehe Lender and the Borrower in connection with any provision of this Assignment, aud the Lendet� shall be successful in the enforcement of this Assibnment, the Lender shatl be entitled to recover from the Bo�7•ower reasonable attorneys' fees and other costs incutY•ed in such actian or proceeding in addition ta any other relief to whicli it may be enti#led. 10. No Waiver. The faiIure of Lender to insist upon any one or more instances of strict pe��fortnance of any of the terms of this Assigmnen# or to institute any action, includit�g the rights and pz�ivileges. granted to it shall not be consta•ued as a waiver of such terms. 11. Bindin� Effect. This Assignment binds and inures to tlie benefit of the Parties and theiz• z•espective successors and permitted assigns, as the case may he. 12. Governi��� Law and Venue. This Assignment has been negotiated and eYecuted in the State of Wisconsin and shall be gaveiYied by �nd interpreted and construed in accordance with the laws of the Sta#e of Wisconsin. In the event of any dispute, the venue of any litigation shall be the Cii•cuit Courts of Winnebago County, Wisconsin. ] 3. Ri�ht to Recorci Me�norandum of Assi�ument. Contemporaneously with the eYecution of this Assigntnent, the Pai�ties may eYecute the Memorandum of Assignment in a foi•;m agreealile to all parties, ar�d deliver an original of such Memorandun� of Assignment to Lender. Lender may cause the Memoi•andum of Assignment to be recorded �vith #he Register of Deeds of Winnebaga County in lieu of this fiill Assignment document. Upon the termination of this Assigmnent, or the termination of one or both af the Agreements, at the request of any Party, the Pai•ties will execute a doc��ment in recordable foim, amenc�ing oi• terminating the Memor�rlcium of Assignment as �pplicable. 14. Modification af Tea•rns in Event of Assumption by Lenc�er. (a) If Lender specifically ass�imes all obligations at�d liabilities of the BOI'I'OWEY pursuant to the Lease, upou such assumption, the terms of the Lease shall be inodified as follo�vs: (i} Lender shall not be required to hold tl�e City l�armless from any accident or incident arising, in whole o�• in pai�t, fi•om (1) the intentional or i�egligent acts of the City, AECOM, Inc. (the City's agent overseeing the remeciiation), or eithet�'s agents, contractors, subcontractors, invitees or employees, or (2) any professional errors oi• omissions of AECOM, Inc. (ii) Lender's obligation to hold #he City harmless fi•o�n any accident or incident shall eYClude attorneys' fees, profession�l service fees, and expert witness fees. (b) If Leiider specificaily assutnes all abligations and Iiabilities of the Borrower pttrsuant to the Developinent Agreement, upon such assun�ption, the terms of the Development Agreemez�t shall be modified 1s follows: July 8, 2015 (i) Lender shall not be required to hold the City harmless and indemnify the City for any vioiations of the terms and conditions of the WEDC Graz�t (as defined in tlie Developinent Agreement) arising, in whole or in part, fi•om (1) the intentional or negligent acts of the City, AECOM, Inc., or eithei•'s agents, conti•actors, subcontractors, invitees or employees, or (2) ai�y professional eri•ors or omissions of AEC�M, Inc. (ii) Lender shall not be required to indemnify the City under Section 13 of the Developtnent Agreement to the eYtent such loss, liability, damage or eYpense ai•ises, in whole or in part, from (I) the izitentional or negligent acts of the City, AECOM, Inc., o�� either's agents, contractors, subcontractors, invitees or ernployees, oi• (2} any pz•ofessional errors or omissions of AECOM, Inc. (iii) Lender's indemnification obiigations ��i�de� Sectio�i 13 of the Develop��ient Agreement shall eYClude attorneys' fees, p�•ofessional service fees, and expec•t witness fees. 15. Lender's Liens a��d Eiicwtabr�nces. Notwithstanding anything to the contrary in Section 23 of the Lease, the City hereby explicitly permits the granting and recording of liens and encumbz•ances associated witi� the Loan against Borrowe�•'s leasei�old i�rte�•est in the T.eased Premises (as th�►t term is defined in tiie Lease). The granting of such liens and encutnbrances by Borrower to Lender sl�all not constititte a default under Section 23 the Lease. If Borro�ver fails to acquire fee title to tj�e Leased Premises, then tipon the termit�ation or expiration of the Lease, any liens and encumbrances held by Lender on Borro�ver's leasehold interest shall aukomaticaIly terminate, and such liens and enc�imbrances shalt be released of record upon reqiiest by the City. Norivithstanding the foregoing, any liens and encttm6rances held by the Lender on the buildings, structures, and itnprovements located, or to be located, on the Property shall not terminate or be released upon the termination or e;cpiration of the Lease. 16. Control over Casualty and Conclemnation Proceecls. (a} In the evei�t of fire or any casualty, coi�trol ovet' atty insut•ance pt•oceeds granted to the City i�� the Development Agreement or in the City Mortgage shall be sizbordinate to the rights over st�ch proceeds granted to Lender in the Laan Documents. (b) In the event of condemnation, control over any condemnation proceeds granted to the City shall be subordinate to the rights over such proceeds granted to Lender in the Loa�x Documents. l7. Notice of Default. Lender and the City acknowledge that both have a mut�ral interest in the suceessfiil �•emediation of the Property, and the successful construction and operation of the improvements, as contemplated in the Agreements and #he Loan Documents (collectively, the "Pi•oject"}. As such, upon July 8, 2015 default by Borrawer under either of the Agreements or under any of the Loan Documants, and prior to the City oi� Lender enforcing any remedy agai��st Bon�ower that would have a material adverse effeci on the City or Lendei• eYCept in the case of an etneigency, the City, in the case of a ciefault under either of tt�e Agreements, sl�all endeavor in good faith to notify Lendei•; and Lender, i�i the case of a default under any of the Loan Documents, shall endeavor in good faith to give notice to the City. The �City and Lendei• shall then discuss tl�e specifics of the default and the alternative rernedies that may be available to address the defa��lt in light of the relevant facts and circumstances. The City and Lender shatl work together in good faith in an effort to saivage the Project, In connection with any such effo�•t that invQlves Lender assuming any obligations under the Ag�•eements, the City shall in good faith carefiilly consider granting any reasonable request frorn Lender to further amend the Agreements so that no defaults eYist undei� the Agreements at the time of assumption. Notices of default shall be given to the City and Lender at the following addresses: City: City of Oshkosh Attn: City Atto�•ney City Attoi�ney's Office 215 Church Avenue Post Office Bo;c 1130 Oshkosh, WI 54903-1130 Lec�der: Choice Bank Attn: Conunercial Lending Dept. 2450 Witzel Avenue Oshkosh, WI 54904 1 S. Multiple Cotuiterp�rts. This Assignment may be simultaneously e�cecuted in multiple countezparts, all of whicl� shall constitiite one and the same instrument and each of which shall be deemed to be an original. (REMAINDER OFP�GELEFTINTENTIDtYALLYBLANIC; SXGNATURL' PAGE TOLL�I�'S] July 8, 241 S EACH PARTY ACKNOWLEDGES THAT THEY HAVE CAR�rULLY READ AND FULLY UNDERSTAND ALL OF THE PROVISIONS OI' THIS ASSIGNIVIENT. IN yYlTNESS HEREOF, the parties have hereunto set their hands the day and year first above written. I30RROW�R: LENllER: Tlie Rivei•s Pi�ase II - Osl�lcosli, LLC, Clzoice Banlc a Wisconsin limited liability compar�y Ry: The Rivers Phase II — Oshkosh MM LLC, A Wisconsin limited liability � By: ��``--�=�___----� `�a Comparly, Its Manager Signaft� �.__i i�(.��\����4 l , \ � G tr _.,,� / �.,.�'�iJ� �Z`%� t1 By: Noa•thpointe Holdings Corp., Print n�me, title A Wisconsin Corporation, Its Sole mber B: � Callan L. Schultz P�'esident CITY: Cify of Oshkosl� RedeveloPnient Authority City of Oslilcosli gy.i , H. ]leu : July 8, 2015 . Cummings, >> � Directoz• I�. By: Approv as to Porm: Y� R, L , Lorens Cit ttorney r�cknoivletlgements next l�t�o pages.J � � : r STATE OF WISCONSIN ) ) ss covNTY o� '�.�; ��,�N1��� z� � -.—T Personally came befQre me this L. Sch�iltz, to me known to be th acknowledged the satne. STATE OF WISCONSIN ) ) ss COUNTY OF v!J n n� E�Sa ) v ��y � day of..��p� , 2015, the above-named Callan e pea•so�� �vho e e�' cuted the foregoing instcument and � 1 G�ti - ;� , �n,�- ��'� '•` c�(C,�e ) +� Notai•y Public, State of Wiscon in My Commission eY�i�•es: �1 (F �C� '•`Prirtt Nan2e Personally� �am� pefore me this ��i �"�� day of -�'�^;;,;, ��� 2015, the above-named , to me known to be tl1�e�,q,��to,e�cecutecl the foregain� instiument on beh�lf of Choice Bank ai�d . acknor�vledg�e�c�ha�ame.' • •. : ; �Q- , �p,Q.`I y : � �!J-�`? ��� :��c.c.�-r�.. � W : Q / V •� cn - '� 1 c' � �!r �� � .���"� %Yi rvi ; u�a �. �� Qj� : o; Notary Public, State of R�isconsin . Y '•.. PJ ,.� � : .� ,, ., �� M y Commission eY pires: ,l z y/ i C o . ,�'.SrATE'��.•�� �`Pf•intName . . ��,�.•� STATE OF WISCONSIN COUNTY OF WINNEBAGO ) ) ss ) . � � Personally canle before Yt�e this ��� day of ��' 20l S, th� above-named l��ark A. Rohloff, to me known to be the person who eYectited the foregoinb instriament aud acknowledged the same. �r,�r.-�e C� c��hk� ���' ��--�x� �E'ul� ,�� � � ���- Notary Public, State of Wiscon in My Commission expires: V7 a.L�/ July 3, 2015 STATE OF WISCONSIN COUNTY OF WINNEBAGO ) ) ss ) Personally came before me this ��� day of �, 2015, the above-named Pamela R. Ubrig, to me known to be the person who eYeclited the foregoing instrument and acknowledged the same. STATE OF WISCONSIN CDUNTY OF WINNEBAGO ) ) ss ) � �r ��.� �, � ''` 1 xr'�NY�7 � i'C.1, � Notaiy Pttblic, State of Wisconsi My Commission expires: `1�1�. *Print Na»re � � Personally came before me this �g day of �, 2015, the above-named H, Alle�� Davis, to me known to be the pet'son who eYecu �d the foregoing instcument and acknowledged the same. 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Hvn�en, reylehled lond aurceyar, htreby cedify, 7hof in fui! eomplionce x4lh lhe pfovielons of Cnopfer 2J6, eatlon 2J6.34 ot lhe wscon9ln Stalules, lhe Land Su6division Ordinortce of Winne�aqo Counfy, and the City ot O:hkosh, ond under 4he 6lrection of !he Rodevalapment Avthority of lhe Gty of OshkoeF, owne� o! aoid land, I have :urveyed, d'mded and mapped lhe folloxi�g lond being otl o( Lot I and lo! 2 0! Cerfliied S�rvoy lAap Number 5679, Beirtq a port o( the Sovlh 1/2 of the 1lorlAeo�t 1/4 ond part o( !he �to�th 1/2 0l tbe Southeoet f/4 of Seotion 23� Toxnehip IB Horth, Ronga tb Eost, fint H'ord, Clly oF O�hfcoah, 1Ynnebago Cvunty. �acon�(a� rnore fu}!y described ee foHows: Commencing af the Eoal k eome� of sold Section 23; thence 501'17�2d'E along fhe east Pne of the Norfheosf 1/4 of aoid aectton, �D3,23 fat; thenee S88'42'J<`W, 69.52 teel lo�a palnf en the west right—o(--woy of Jackson Slreet and fha eoet<rty flne at Lol { o! Cetiified Sufvcy �Aop Numbtr 5879, thoi olso being ihe pofnt o( BeglOninq; thence alonq said right—of—way and �he coeterty line o( aold Lol f 501'2{'3J'E, 231.05_ feel; lAence otong lhe eosteriy line of told Lot 1 SBB'JS'23'1Y, 30.00 /eat; Ihenca eontFrtuing olong Ihc eosterly lfne of salQ Lat F So5'06'42l'/, 88,d4 leet lo fhe southeost oorner ot soid tol 1; thence afong lhe soolheriy line of sold lo! 1 N65'43'zeYr, 656.90 feet; thence N62'10'26'W, 0I6.83 fttt olong lhe soulhedy line o( sold Lot 1 and thc aoulhe�ty Ilno ol Lot 2 of Ctrlilied Sutvey 6Sap Number 5874 to the sovthweelerly comnf of �afd Cot 2: lheneo olong ihe t+eetetly line o( enld Lof 2 N3T05'O6'E, 21i.73 .feet to e point on the aoutherfy righE—ot—way of I<v�ton ftood ond the narthwe9l torner of noM Lot 2; lhence olong said sovlhedy ri9hl—of—woy S65'46'22�f, 886.59 fcet; �henee eontinving along soid so�Ehetly right—of—wpy S65'S4'10'E, 135.62 feet; thence eontin�[np olong aotd oovthedy right—ol--x�ay f185'20'29'E, b0.73 feei; lhence contlnut�g oiong salE eouthe�y tight—o(--woy 1186'33'S6�E, 184.29 teef, t}ienca sonF�nuing obng sold eoulh!dy right—of—WOy 54.99 (eel on a curve lo lhe right hov�ng o rodfue af SS,00 feot, whose chord bears 5<6'25'2S'E, 45.51 (eeL to a poinF on the westetty riqht—ai—�oy of Jackson Slreel on6 l60 ?o1�E o{ Beglnning. Soid paree! eontalne 370,656 oqucre Teet or 8.509 ocres more or legg. Sold poreet io aublecl to eosements of record. 7hot th: survey o,' sold lortd woe dona Under my direcl aupatvisfon and the map hueort Is a frve ond oCtvrote reprepenlaUon of the ex{<rior boundaries ond tho divislon (hereaG � ,`t�{t1�17!lfl� , . ���- y/2o%a9 ,.���y�SG.°NSiti�% o ; a �: wwscH s-2ew � ''ORAtiG' RiCIS7EAEO uxo WRVCYOR. ' Q. s�teut 20, zoos F�� HAt�SEN :� � t�us u u+ otusu:�t su[rry r S•2640 _ DOCVUENT IF THf PflOF�5SOH4. i , f'���ON . SEAL IS f6lPRIN1E0 17t RED M'D i ,' 1%{� ;�� � SIGR� !N BLVE �i� S t`'' . `� (} ��� "'�� � '�<"'���{ `� ��'��� � SUR� ����. . !/��IU1f�� ��p��� �.�c� o � � � �8 �p> :F�s �� a�OiF � �. �. .�. .-- •--� �.X �'COC 7,12L1Lf— ^.T. �� �d �7 ��s; 8 � _. ._.. � _ _ .� ,—. ��� 1 � ,�7� ��� � � i g `� � �' �� � a ��� ! �¢ ���o � . � I � � I �� � �°� � ' > y�� � �� ��� � 1 � I � �7i� � I � � ��� . 1 � � f ��� W N� • ' � ,I � ��� � i �oz� � / � �wW � M'� I �/ ff � � �' . Z �-' `� ! � � °�x° � �•�r ��a ' f / � � . o� °� � % � , �� . � ���� d � �o �,� / i °� . .��� /�'�' � , .(��� �� `�,��..�_,,�s _ i � '`' �n �/ r� . K.rr� �ts ` d' /j r� } � 6� ^ •i //� ,� k � � � ��: � i � �;� , ���,��' � N� �� s�' ��a� r / / S � . �� ,y � �� !� �� 7 / t3` e $�, ,,\ p�a,'�b� _ _ _ �.� - - — � � '// � �Y�� �,�� � � //�\��• �ti �`�' ��� 6�� �., � ��� � e � \ X��� P\ � ���� � *��Q j � �� $ � , . . =�t � � \ ��nn oc �nn) sr�es>��r��tx� .-• •— •—• •---• •� ,Y.r,i; M.f �{LtOA---- � .. _ _w.... .. ^ .. x-o--Y ,rol - ... �p A' taiur xocxarr Lry . ��c0'f Y3.Lf.VLICC -�����.—._».r...1�n --7---}�— tor�' » ¢ K � �n �C X �a sga � �EHi � �R _ a F� gi� .�9 ` � E�� � r K ��� � �� �!> r � L' 6 �� � ur�s��es ��c'§�i�� dfi n i i., �E �� �S..b�$ Ea� !-'� ��2N��s�a��� s�� �,�► �llllsexx �;�r! �' , . A ' °� � �� � � � o� �• x � �,� � . � �� � �� �' � � � � o� . �� �� 4 � ����I � "--�Q4�-•'� ��. e� . 0 � � �� ��� � � ``````,`t1�1��irir,/,,���,'',� �� � ��j��'� �Iz�¢��'y: �fl' sQ���� '�; � � :ti'U ��¢ ''4ti .� �€4�� a �����,I��'1..�������`,����, w �p': � I ,���'�!rt�i «t���`��` d • 2 � s � � \ a �� m * � ' ���8 � �o� �o g 0 • " +4 ��qi oa�s�^y �3N o�Fy� .-r�.ts.U� 3 � 75 o z oBg � z z � �`��� �K�� �?03� . ;.������ f' �r�!�� ( �52���� ' � f��GIaT�R'5 D�'�IC� �IHffE8�4G0 COUiiTY� • h'T R�CORDED OH ; � /A�/2W�� lIr28Ali :.�,jr� '�7�1 'E 'P' 'GEL �� - �'D � � O k�GIa�TER QF D�EDS � R�CORDIN�, �'BE ,�7.60 � GF�PAG�S�� e �� ��-' � �, ���-,!��5 �-, ' ' ' " S . .��ya CERTlF1�D SURVEY MAP II dil OF LoT 1 IJio I,OT 2 oF CERTIFlE� SURVEY NiF NuMaER se�9. I AECOM BEiNG A PJKT Of 1HE S4I1T}{ fj2 OF 7}{E ftOftTNEISi 1/4 /Jb pAft'f OF TTiE � t1QRTN 1/2 Or 1HE SOUTNEAS( 1/; OF SECTIOH 23, TOWNSNIP 18 NORTH, RlJ�CE IS EAS�, � fIRST Wl.t?0, C(iY QF oSNKQSti, Wlttt7E&4CQ CAU11I1', 1515GOt�sIN. � S 035 Kep:>r Dm•t GreanBay, 4A bF3�i � � 9I0.<68.tS78� � wnx�.aeron�m �r�W�O� er.� NU�lIClPAI aWNER'S CERiIF(CATE 'ihe Redeveloprnenl Aothori[y o/ ihe Cily of O�hkosh� o aeporole body publfc organized and ezl=ting under vnd by rirtue o( the Lowa of the Slate of lYixonatn, oe oKner, dow hereby eeriify thot sofd Au(horily eovsed ihe land 6encri6ed lo be surreyed, di»ded, ond mopped 69 represcnted on thls map, in aoeordanee w�th lh: provisioaa of Chopler 236 0l lhe . Wiseonsin Stalufte ond 1he Land Svbdivislon Ordinance of the Cih• of Oshkosh. fn SSilnes� wha�eot, lhe eaid Redoveiopment Authotity, hoe coused lhese proeenfo fo bc eigned by Jac.ksah P.. Rinney ---- Its �ie:uiive 7JireLtor • � and cou�ler�lgned by � �� Cb.h4aait 27'�h S_ptan`xS doy o( Its _ �� �`���� , ihls _, 20 � . Rcdevelopment Authorify o( the CIEy of Oshkosh: Joc s n . Kinney Exe�Olreclot J �� Tnomoa BeRer Chairman ol STATE OF YQSCO}IS1N) .:SS WINf{EH,lGO COUKtY) , Personelly toms befon mc thfs �'h day o(_ �'-pt�r , 20�9 the oforemenUoned repraenlaGves of the Redevefopment Authorily ot lhe C�ty nf Oahkosh, knoh•n fo mc lo be ihe persone who exec�feQ the (ol9o(nq fnalfvmenf on eck owJadped the som , /� ' �1�� I "IV! `� �- Vj V�v�f'rr �'" ' . ilotory'?ubllc, '/ My, commi�elon cxplre� V�/'`� �� Yl;nrteba90 Counky, $fale o! l5ixon�in • � • , 1� � � ..� . I • ,. �. :li .f � ;� Thfe Cer{illed Suney Map of port o( the Sovth 1/2 of the Norfheoa! 1/4 ond porl o! (he North 1/2 of lhs Southeasl 1/6 In Seetioa 2J, 7oWnebfp 18 North, Ao-nge Ib East, First Ylard, City ol Oahkosh, Binn�bego Ceuety, Yfiscoaa4n, Is hereby opproved. L,,/ � �=2Y-a� _ CI o ng Commisslon � Oolt Ropre�Mlative ' , . ���tV{tlil/���' .�``y��S��Ns� ��`'. � ,,` �o ,,c ti G ,•� ' �. -.�����y��`�y: kANSEtd �� Hwstr! S-2a�o — $.28d0 �•REC!STERED II.YD SU�OA App�.aN •SEPTFil8ER.26, 20a9 ' W` � i r� � Q � ��nrs is ui owc!rcu s�rr,� ��, �,�;�I� .,,,,,�•'�O �� DOCUFf� fF IHE ➢AOFFSSfOW:. � rr 'Y , � F �� sw eos�ri ew�meo Lv tt� uio t����OrSLJ'R�,t��� ������� ' � b�'� r�_��.__- _� -'• t�`��°� �. '.LS n�oS�l, � �r _ 3 n�iu � Q kIP m�d °u � �I '„ . � ___ /� �_ r _—.� � .A �sia 'hBlt 'tL NOLLD� 'L311i�� LSY3Hlft�S N~ . ,/ *qryry* ' C ro � � o M1 n ,� .�g =` L` �5� I�w6 J G n6e �o e t�g o a�. .wC o•n � 6� '�uFd Sz r c��j' bi � n�o4�:a n�. Sa g°og �gg P� e,� � `o 'a. �7°,�w�b omi Rc c°oti i �� -�no ry "� u o_ �O I o� ni°t.°.'' •4=$ °. � r� c� I �F � �N ^ Y � ,� ' . a p e i � ( I 4�� Q� e n� .'� o f Y Y lY � w'�„ m�"' J. S �1 ��< '"s€�� �z� �x;.�'-M" o"go�;°°g:�K W 'h' o� °.�o��� -'°o ° ��'�_° c-'`so"V`.-° 0� � � �1 �p� pV\os� x�£�� ��qNib� bm�NC�Wh40 a d J� z r o c?.. I• o i i� i^, .. i OuN � . � 4 O�ZD�'C oy�R i0c� oY1F..� ��o" Y1001 i'n ( a °?�� •' �� 4"^ 0`'1 � x a �3 °pD $Lp-'S"y�� o<'rvi'mN..� r�o:�n� z o���y �b�`~ ovl o [n� u-o � a '"i�c ��oa°Hi�°So" §���y�g��ZC4 W�N � �� �V C L�� SSy^C��i�lu°e � �+c°�{� � g 'f `oa�-°,�v° Eo�.sYc�o €co9oBoso+i`m'e �+� :. �`n <`s�'?�n3°� 3va��•�m� $� «.�- `on°r oz.`-`ocg3 o 'o �Y � � � �i° . . W ��� " � � . _ �p s o� �z�� n o.. ;� N p' •'o <t �..o �.� B oo° � a�� ° _�°.�tl w .,� r� ., v mXU p� oz�kr� b'PC r�'o�a°obic� a.$ o '4� 4oh ne°_c °n '' � ogOpG�c�� �{b` ��o Z--�"Y-'Q+rs�t-a�.. o I %+ b/h" ,°,s�w3c o R 1 " �c°n o'i aSoe ��i �.S j Y = S j tl `� b �^� �' O o so .�F . ��o� � �n$ �'�'ag� 4 �v�.Qboe000 ✓8 0 / o'� / g' �o=° a.P o. �nLVJyD°� o��; � ; �;�;a sze a`°=<;;� a� `=ae �� / °�� �2rx' '�8 p7����'�avo'Ff-O S'�°°� / �u BT��oe Y � rvRn�'o:omo nr1� ��n `'��`- wz'i E z�, u � °c �^ o i o�j�n ¢ '�� �h4 �`z`°a° e�� i�=Z s Soo'.� hno� r- v�. b ir� �'r�-,�,i ° +ti Q O�O � / �ii5ie� c°'ooe yo�"to-'�oirv3.°� ' cv� �p qiO�r �D / h ��°o��p cCu��° I e•� Dpe i�ZZt�OOpp °-r�'e o O M GJ m U� e� o V. V oU C� 'C c � YI P o b[ 6 C 9 O D � N�°� n,�' <}���� mo'o��°����go��.�t�aF'e€�_ � � e / _� i p e �' U K.,_� � / o pI p Y�a� � / ry / / dlNl U� / ./t£st � / �hµ '�9 �ls� 9££�'b2N r bs h / �� � `° Ir���p W�` � 4 �y'� N >�Nrn / 2 ml a�r',: � S�� r � =� '� o al�� � UI J / 1 0 , O� ,� W ,� OU UN m 03Q 221 � S6 y�,2 , o f � 8F'F�.bZS �J �i / �l .� / / � � 1 �� . U � � 0 h°'� � ti . � O / �^ . a y� . h� / � A�' " h�/ /� / � .' �h�/� ,��� J/o ��� � ' �v o//� � ,�� �� Od� � p�o �� �n �Xh��f� ��� m `x W � �z > ap � � �y-' ❑ � Z g m °z �� z 4 �� OZy. rva�S, s 0<T -' �, o o�N }-V�iO � awo � pV U H � ' r � � � � v � � �� ��� ti�� w/�x . <W~ uz� u�� � Z P i � : � : f � � i � � � .. CERTIFlED SUR1/CY MAf' BEtNC A pl,FCi Of 7HEr SOU!}t21/2 OF 7}IE�NORTHElS?N /4t,I,ho PAXT DF T}iE N�RTN 1�2 Or 7H6 SoUT}{E/,57' ��; OF SECTIOH 23, 10WNSNIP 18 f{OKili, (W�CE 16 EASr, flRSi WARO, C11Y QF osliK05}{, WINt1E&SCO CAUftIY, 4tSCOt151N. MUNICIPA� 04YNER'S CERTlF(CAT� � (� yo jA�coM tU35 KeperDm•a Gn an e ay, l'n 65111 926,168.1578- WFX'.iBCnTLtG(il �fi'�.102V9 9f /LhW TTie RedevalopmaM Aothority of ihe Cily ol Dehkosh, o oeporole body public o�genizad and exl:Ung under vnd by viriue of the Lowe of the Slote of K'i�conaln, oe owner, doea hereby earll{y thot sald Avfhorily cousad th¢ lond desctibed Io be surveyed, dfrided, and mopped as represented on Lhls map, In aceorEaoee vr�lh 4he provisionn o( Chapte� 2�6 of lhe Wisconsin Stolukeo ond Ihe Land Svhdivislon Ordinanee oI the City of Oshko9h. fn SSilness whareof, lhe �oid Redevelopment Aulhority, ho� caused these prenento to ba signed by J�� R� Kuv�ey _ tts �iex'tave Director - , ond cou�tenlqnad by ��S �� �hko,�Yt 2�t.}7 S?pteot�Y _. doy o( lis _ �-tc�i k�`r��� , . lhls ,., 20 � . Rcdevelopment Authority o( the CIEy of Oshkosh: doc a n . Kinney Exe�Oireclof J �-� Tnomao 6eller Chalrmon ol STAT£ OF WiSCOT�51N) , .:SS WItiNE8AC0 COUMY) Pe�sone�ly tame befota me this �`h doy of �p��r , 20Q9 the oforcmenlioned represenlo[Ivea ot the RedevelopmenE A�Norily of the Clty e( Oehkosh, lenovrn to mc Lo be Ehe peraone who eXecvted the folgotnq Instrumenl on ack owledged the ,sam/t. - �J= V�i�V'!�^' "' � . Notory'Publlo, '/ My, commisslon explres_ V' r�I ��� ' Yl;iinebagd Counly, $lale of liiston�in � n � � .� . � � :�� :� �. :. - Thf� Cerfilled Survey 1,(op o( porf o( the Soulh i/2 of th� Norlheae� ��4 ond per( of fhe North t/2 of the Southeast 1// In 5ecUon 2J, 7ownebfp 18 North, kang� 16 Eost, Frrst Ylotd, City of Oshkosh, Kinpcbago Counly, Yfisconaln, Is hsreby opproved�.��� ��/�.,/�,✓, � 2y a� Clt v ng Commisslon Dote Ropre�rntative � . . ``,��}IIIt1����, `.�.��S�oNS�N%,, Grr�o. xws�a o ��yO� _~o ' HANSEIJ �: ::FEC!STEREp V,4D SUR�'�YOR � � $•2840 •sc�ueee.2o, 2on9 APPtE1�ON `,, ws ; �Q ;' ��rns rs ui orucuut sur,v� ;� ( � , •' p ��� DOCUU� IF tkE VROFESSfOW: . rr ��l '•�••• '�;� ♦ '•SE/�L IS IllPitlHiEp L4 RED F710 'r � SURV ��• SIGNEO 1M BLOE� . J��LlttFll1�15� ������� � , b�' � LEGAL BESCR.IPTIOl`�T The Rivers 1.5 Lot Oshkosh, WI A parcel of land, being a part of Lot 2 of V,7innebago County Certified Survey Map No. 6408, located in the I�TE 1/4 of the SE 1/4 of Section 23, Townslup 18 North, Range 16 East, First Waz�d, City of Oshkosh, ��in.tzebago County, Wisconsin, being more particularly described as: Beginning at the Nortlzwest corner of said Lot 2 of Certified Sun�ey Map No. 6408, said point being on the southu�esterIy right-of-way line of Ma.rion Road; Tlience S65°-46'-22"E, along said southwestexly right-of way line, 238.54 feet; Thence S24°-13'-36"��, 149.48 feet to the beginning of a curve io the right, having its radius point bearing northwesterly, 290.00 feet; Thetice southwesterly 193,16 feei along the arc of said curve, the long chord of t��hich bears S85°-11'-09"W, 189.61 feet to a point on the noz�theasferly line of Outlot I of Certified Sur�fey Map No. 5879 and the end of said curve; Thence N62°-10'-26"W, along said northeasie�ly line of Outlof 1, 72.91 feet to the southwest corner of said Lot 2 of Certified Survey Map No. 6405; Thence N24°-13'-38"E, along the westerly line of said Lot 2, 236.95 feet to the Point of Begir�ning and the end of this description; Containing 51,843 square feet, or 1.190 acres of land. LEGAL ])ESCRiPTI�N Outloi Adjacent to The Rive��s I.5 Lof Oshkosh, R�I A parcel of Iand, being a part of Lot 2 of Winnebago County Certified Survey Map No. 6408, located in the NE 1/4 af the SE 1/4 of Section 23, Township 18 I�rorfh, Range 16 East, First Ward, City of Oshkosli, Winnebago Counry, Wisconsin, being inore particularlp described as: Coxnmencing at ihe I�roi-thwest corner of said Lot 2 of Cei�tified Sun�ey Map No. 6408, said point being on the southwesterly righ#-of-way line of Marion Road; Thence 5b5°-46'-22"E, along said southwesterly right-of-way line, 2�8.54 feet to the Point of Beginxvng af this description; Thence continuing S65°-46'-22"E, along said southwesterly right-of-��ay line, 20.00 feet; . Thence S24°-13'-36"W, 253.21 feet to the northeasterIy line of Outlot 1 of Certified Survey Map No. 5879; Thence N62°-10'-26"W, along said noi-�heasterly lzne of OutIot l, 186.I4 feet to the beginning of a curve to the left, having its radius pouit beariug northerly 290.00 feet; Thence northeasterly I 93.16 feet along the arc o:f said curve, the Iong chord of which bears N85°-I1'-09"E, 189.61 feet; . Thence N24°-13'-36"E, 149.48 feei to the Point of Beginning and the end of tlus description; Containing 11,519 square feet, or 0,264 acre af land. Descriptions by: Ken RTOlf, PLS-1421, AECOM June 25, 2015 Project No. 60432283 ������� � b�� DEVELOPMENT AGREEMENT Document Number 1 Document Title Recording Area Name and Return Address City Attorney Office POBox1130 Oshkosh WI 54903-1130 Parcel Identification Numbers (PIN) 0102220000 This instrument drafted by: Attorney David J. Praska Oshkosh, WI 54903-1130 �xhibit = eptember 18, 2015 DEVELOPMENT AGREEMENT This Development Agreement (the "A�reement") is made as of the 2��day of September, 2015 (the "Effective Date") by and between the CITY OF OSHKOSH, WISCONSIN, a Wisconsin municipal corporation (the "Citv"), and THE RIVERS PHASE II — OSHKOSH, LLC, a Wisconsin limited liability company (the "Owner") and NORTHPOINTE DEVELOPMENT CORPORATION (the "Developer"). RECITALS A. The Owner is an Affiliate of Northpointe Development Corporation (Northpointe). Northpointe received an Option to develop and purchase the Property described herein according to the Development Agreement recorded with the Winnebago County Register of Deeds on January 22, 2014, as Document Number 1656792. Northpointe assigns its Option/Purchase rights to the Owner, and pursuant to a separate agreement with the Owner will develop the Property pursuant to this Agreement. B. The Owner and Developer will lease certain Property located in the City of Oshkosh, Wisconsin, from the City and from the City of Oshkosh Redevelopment Authority (the "RDA"). The leased Property is described on Exhibit A attached hereto (the "PropertX") and is currently leased by the City from the Redevelopment Authority beginning on or around June 1, 2006 (the "Prime Lease"). C. The Developer plans to construct on the Property a five story, 40 unit apartment building with underground and surface parking pursuant to a plan approved by the Common Council on December 9, 2014 through Resolution 14-541 (the "Project") and thereafter acquire fee simple title to the Property following the completion of certain environmental remediation. D. The Property was previously subject to a Development Agreement, including various Amendments thereto, which were all recorded with the Winnebago County Register of Deeds. The benefits and burdens of this previous Development Agreement, including Amendments, have expired pursuant to the Agreement's terms, and the Parties now desire to enter into this Development Agreement for the purpose describing the applicable benefits and burdens and otherwise ensuring the proper development of the Property. E. The Developer will develop and the Owner will acquire the Property in accordance with the terms of this Agreement. E. The Developer's ability to proceed with this Project is contingent upon the City providing financial and other environmental remediation assistance for the Property to be developed pursuant to the terms set forth in this Agreement. F. The City finds it to be in the public interest to utilize grants and other funding to assist the Developer and Owner to undertake its Project in a manner that is consistent with the terms and conditions of this Agreement. G. The City finds that construction of the Project, and fulfillment of the terms and conditions of this Development Agreement are vital and in the best interests of the City and its residents and will fulfill a public purpose in accordance with state law. THEREFORE, in consideration of the foregoing Recitals which are incorporated hereto and made a part of this Agreement, the promises, covenants and agreements contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the Developer, the Owner, and the City promise, covenant and agree as follows: 2 September 18, 2015 1. Previous A�reements. The Property described in this Agreement was previously subject to a base Development Agreement, together with various Amendments thereto, which were recorded with the Winnebago County Register of Deeds. The Parties agree that previous Development Agreements affecting the Property, including Amendments, have expired and are without further effect. The Parties further agree that the Property remains subject to all other encumbrances and associated burdens and benefits existing as of the date of this Agreement, including without limitation leases, easements, covenants, municipal ordinances, redevelopment plans, and tax increment districts. 2. Definitions. As used in this Agreement, the following terms shall have the following meanings: "Affiliate" means any entity that, directly or indirectly, controls, is controlled by or is under common control with a party to this Agreement or such party's successors and/or assigns. For purposes of this definition, "control" means possessing the power to direct or cause the direction of the management and policies of the entity by the ownership of a majority of the voting securities of the entity. "Citv" means the City of Oshkosh, Wisconsin, a Wisconsin municipal corporation, its successors and assigns. "Cit_y Contribution" means payments provided by the City to the Developer as set forth in Section 2(b), below. "Completion Date" means the date the Project must be completed, which is December 31, 2016. "Default" means the occurrence of one or more of the events described in Section 17, below. "Expiration Date" means the date of termination of the TIF District No 21 under Wis. Stat. §66.1105(7). "Project" means the Developer's approved plan to construct a five story, 40 unit apartment building with underground and surface parking on the Property as approved by the Common Council on December 9, 2014 through Resolution 14-541, followed by the Developer acquiring fee simple title to the Property upon the completion of certain environmental remediation "Project Costs" means the total costs of acquiring and constructing the Project, including all capital expenditures (or expenditures that could be treated as capital expenditures) and preliminary expenditures (such as architectural, engineering, surveying, soil testing and similar costs that are incurred in connection with the construction of the Project) and all other direct and indirect costs of development of the Project in accordance with the Project Plans. "Proiect Plans" means final detailed plans and specifications for the Project, and all other improvements to be located on the Property. "Property" means the parcel of land upon which the Project is located. The Property is part of Lot 2 of Certified Survey Map 6408, which was recorded with the Winnebago County Register of Deeds on October 5, 2009, as Document Number 1520619. After all environmental remediation has been completed to the satisfaction of applicable governmental agencies, then the Property will be subject to a new CSM which will formally divide Lot 2 of CSM 6408 and separate the Property from the larger parcel currently described as Lot 2. The Property is referred to as the "Land Division Exhibit" in the 3 September 18, 2015 attachment, which reflects the boundaries of the future Lot in the future CSM. CSM 6408 along with the legal description of the Property are attached as Exhibit A. "Term" means the period of time from the Effective Date of this Agreement to the Expiration Date. 3. Cit�Obli�ations. (a) Initial Lease. The City shall lease the Property to Developer and Owner pursuant to a Lease in the form attached hereto as Exhibit B(the "City Lease"). The term of the City Lease shall begin on a mutually agreed upon date set forth in the City Lease, and end on the date identified therein, or on the date upon which the City conveys the Property to the Owner pursuant to subsection (c), below. (b) Environmental Remediation Assistance. Groundwater and soil contamination identified in the Wisconsin Department of Natural Resources Case Nos. 02-71-282521 and 06-71-547885 remains present on the Property (the "Contamination"). Developer and Owner shall be responsible for the remediation of the Contamination to the extent necessary to obtain a Certificate of Completion from the Wisconsin Department of Natural Resources under its Voluntary Party Liability Exemption Program (a "Certificate of Completion"). The City will provide Developer and Owner with a direct grant in the amount of Four Hundred Twenty Thousand and No/100 ($420,000.00) (the "Cit�") to be utilized by Developer and Owner solely for costs associated with remediating the Contamination on the Properiy. The City shall also administer a grant for the benefit of the Property in the amount of Two Hundred Forty Seven Thousand Four Hundred Fifty Eight and No/100 Dollars ($247,458.00) being provided by the Wisconsin Economic Development Corporation (the "WEDC Grant"), which is also to be utilized solely for costs associated with remediating the Contamination on the Property. The Developer and Owner are solely responsible for all environmental remediation costs in excess of the City Grant and the WEDC Grant. The City Grant and WEDC Grant shall be administered in accordance with the provisions set forth in Section 6, below. (c) Conveyance of Property to Developer. Following the issuance of a Certificate of Completion relating to the Property's Contamination, then the Redevelopment Authority will convey the Property to the City pursuant to Section 5.01 of the Prime Lease, and then the City will convey fee simple title to the Property to the Owner. Conveyances will be subject to all easements, covenants and restrictions of record, municipal ordinances, taxes (if any) for the year in which the conveyance to Owner occurs, and any restrictions imposed on the Property as a condition of the Certificate of Completion (the "Permitted Encumbrances"). 4. Conditions Precedent to City's Obli atg ions. In addition to all other conditions and requirements set forth in this Agreement, the obligations of the City hereunder (including, without limitation, the obligation of the City to provide the City Contribution) are conditioned upon the completion of each and every of the following conditions to the City's satisfaction: (a) On or befare the date of this Agreement, the Developer and Owner shall provide the City opinions of its counsel reasonably acceptable to the City stating, among other things, that the persons executing this Agreement on behalf of the Developer and Owner are authorized to do so, that the Developer and Owner are duly authorized entry into this Agreement, and other matters as are reasonably requested by the City. (b) On or before the date of this Agreement, the Developer and Owner shall have provided the City with (i) certified copies of their Articles of Organization and Operating Agreement, and (ii) a current Certificate of Status issued by the Wisconsin Department of Financial Institutions. 4 September 18, 2015 (c) On the date of each payment made to Developer and/or Owner pursuant to Section 2(d), above, no uncured default, or event which with the giving of notice or lapse of time or both would be a default, shall exist under this Agreeinent. (d) The City Common Council shall have approved a Capital Improvement Program that includes full funding for the City Contribution identified in this Agreement. Unless all conditions contained in this Section 3 are satisfied within the time period(s) described above that are allowed for the satisfaction of such conditions, or such conditions are waived in writing by the City within the allowed time period(s), then the City may at its option and at its sole discretion, tertninate this Agreement. In the event this Agreement is terminated, then no party to this Agreement shall have any further liability or other obligation to the other parties. 5. Representations, Warranties of Developer and Owner. The Developer and Owner, jointly and severally, represent and warrant to the City as follows: (a) The Developer and Owner are limited liability companies duly organized by the State of Wisconsin, are current with all administrative entity formation requirements of the State, and have the power and all necessary licenses, permits, and franchises to own their assets and properties and to carry on its business. (b) The Developer and Owner are duly licensed or qualified to do business in the State of Wisconsin and all other jurisdictions in which failure to do so would have a material adverse effect on their business or financial condition. (c) The execution, delivery and performance of this Agreement have been duly authorized by all necessary limited liability company action of the Developer and Owner, and constitute the valid and binding obligations of the Developer and Owner enforceable in accordance with their terms, subject only to applicable bankruptcy, insolvency, reorganization, moratorium, general principles of equity, and other similar laws of general application affecting the enforceability of creditors' rights generally. (d) The execution, delivery, and performance of the Developer's and Owner's obligations pursuant to this Agreement will not violate or conflict with the Developer's or Owner's Articles of Organization or Operating Agreement, or any indenture, instrument or agreement by which the Developer or Owner is bound, nor will the execution, delivery or performance of the Developer's or Owner's obligations pursuant to this Agreement violate or conflict with any law applicable to the Developer or to the Owner or to the Project. (e) There is no litigation or proceeding pending or affecting the Developer or the Owner or the Project, or, to the best of the Developer's or Owner's knowledge, threatening the Developer or the Project, that would adversely affect the Project or the Developer or the Owner, or the enforceability of this Agreement, the ability of the Developer to complete the Project or the ability of the Developer or the Owner to perform their obligations under this Agreement. ( fl To the best of the Developer's and Owner's knowledge, no default, or event which with the giving of notice or lapse of time or both would be a default, exists under this Agreement, and the Developer and Owner are not in default (beyond any applicable notice and cure period) of any of its obligations under any other agreement or instrument to which the Developer or Owner is party or obligor. 5 September 18, 2015 6. Covenants of Developer and Owner. During the Term of this Agreement, the Developer and Owner, jointly and severally, covenants to the City as follows: (a) The Developer shall pay for all work performed and materials furnished for the Project as and when due. (b) On or before the Completion Date, the Project shall be completed (subject to matters of force majeure), and in all other respects be ready for occupancy and use by the Owner. (c) The Developer and the Owner shall conform and comply with, and will cause the Project to be in conformance and compliance with, all applicable federal, state, local and other laws, rules, regulations and ordinances, including without limitation, all zoning and land division laws, rules, regulations, and ordinances, all building codes and ardinances of the City, and all environmental laws, rules, regulations, and ordinances. (d) The Developer and the Owner shall cause the Project to be constructed in a good and workmanlike manner and substantially in accordance with the Project Plans and will promptly correct any defects, structural or otherwise, in any construction or deviations from the Project Plans. Construction of the Project shall be completed free of all liens and encumbrances except for those liens and encumbrances permitted by this Agreement. (e) The Developer and the Owner shall pay or cause to be paid prior to delinquency all federal, state and local taxes in connection with the Project. The Developer and the Owner shall pay when due all operating expenses in connection with the Project. ( fl The Developer shall have in effect at all times, all permits, approvals and licenses that may be required by any governmental authority or nongovernmental entity in connection with the development, construction, management and operation of the Project. (g) Except for a mortgage against the Developer's andlor the Owner's leasehold interest, related assignments of Leases and Rents and other collateral documentation in favor of Lender securing the Loan, neither the Developer nor Owner will mortgage or otherwise place a lien or encumbrance on the Property without first obtaining the City's consent. The City understands that the Developer and Owner retain private agreements between them that are related to the Project to which the City is not a party, and further, understands that in order to effectuate the agreement(s), an encumbrance between the Owner and Developer may be placed against the leasehold interest. The City consents to such additional encumbrance provided the encumbrance is only related to the Project, and that details of such encumbrance be provided to the City upon request to verify the applicability of such encumbrance. (h) The Developer and Owner, at their cost and expense, shall operate, maintain, repair and replace (including without limitation, repairs and replacements of a capital nature) all elements of the Project. The Developer's and Owner's maintenance and repair obligations shall include both day to day maintenance and repair and extraordinary maintenance and repair and shall include maintenance, repair and replacement of all elements or systems of the Project as are necessary in order to maintain the Project. Neither the Developer nar the Owner will defer any required maintenance, repair or replacement (including, without limitation, repairs and replacements of a capital nature) of any element of the Project and shall establish adequate reserves therefare. (i) The Developer or Owner will not, without the City's consent, initiate any change in the zoning classification of all or any portion of the Properly. 6 September 18, 2015 (j) The Developer and Owner shall comply with all requirements of the City Grant and the WEDC Grant. (k) The Developer and Owner shall be responsible for all costs of obtaining the Certificate of Completion with respect to the Contamination in excess of the City Grant and WEDC Grant. 7. Grant Administration. (a) Cit.�Grant. The City shall deposit the City Grant into a mutually approved escrow account on or before October 1, 2015. The City Grant shall be utilized only for costs associated with remediating the Contamination. All expenditures and requests to utilize the City Grant funds must be approved in writing by the City prior to payment or release from the escrow account pursuant to the terms of a separate disbursing agreement to be entered into by and among the Developer, the Owner, the City and the escrow agent (the "Disbursin� Agreement"). The City will respond to any request for approval of a payment within five (5) business days. All such approvals shall be at the City's discretion. Use of the City Grant shall be for two purposes: (i) the amount of $120,000 will be paid to AECOM to monitor and oversee the remediation efforts on the City's behalf, and to advise the City on all issues related to the remediation efforts; and (ii) the remaining amount will be spent on approved actual remediation efforts. The City and/or the RDA will enter into an agreement with AECOM, and will submit requests for payment for AECOM services to the escrow agent for payment up to $120,000. Amounts owed AECOM for this project in excess of $120,000 shall be reimbursed by the Developer and/or the Owner to the City. The Developer and the Owner shall be responsible for retaining all necessary services and material necessary for remediation efforts, and shall be responsible for all costs and amounts owed for remediation efforts in excess of the amount of the City Grant. (b) WEDC Grant. The City is responsible for administering the WEDC Grant. The Developer and Owner agrees to comply with all WEDC requirements for the WEDC Grant, and both will hold the City harmless and indemnify the City for any violations of the WEDC Grant's terms and conditions. This WEDC Grant is a reimbursable grant, and is intended to pay for trucking and landfill tipping fees related to the remediation of the Contamination. WEDC reimbursement may only be obtained after Developer and/or the Owner have paid far the costs for trucking and landfill tipping fees. Developer and/or the Owner shall provide City with documentation sufficient to allow reimbursement by WEDC. Regarding tipping fees specifically, Developer and the Owner are benefitting from the utilization of City and RDA tipping rates. The City and its RDA will be billed for the Project's tipping fees, which will then be passed along to the Developer andlor the Owner for payment to the City. Payment shall be made upon receipt. The City shall then pay the tipping fees and submit a request to WEDC for reimbursement. The City will forward to Developer andlor the Owner WEDC reimbursement funds upon their receipt, subject to normal administrative processing. The City shall not authorize any payments of City Grant funds pursuant to paragraph 6(a), above (other than payments to AECOM), until Developer and/or the Owner have paid in full all outstanding invoices for tipping and related fees. 8. Dama�e; Destruction. (a) In the event of fire, damage, or any other casualty to any part of the Project, the Developer and/ar Owner shall, at their cost and expense, to rebuild, repair and replace the Project in the condition it was in immediately prior to the casualty and shall otherwise complete the Project. (b) If the Project is required to be rebuilt or repaired or replaced, then the Project shall be rebuilt, repaired or replaced in accordance with plans and specifications prepared by the Developer and/or the Owner and approved by the City. The Developer and the Owner agree to apply any necessary 7 September 18, 2015 portion of the insurance proceeds to rebuild, repair and replace the Project. The proceeds of insurance shall be disbursed for the replacement, rebuilding or repair of the Project pursuant to the terms and conditions of a disbursing agreement among the City, the Developer, the Owner, and the Title Company, similar in form and content to the Disbursing Agreement entered into pursuant to Section 6, above. Any amount required in excess of insurance proceeds for rebuilding, repair and/or replacement of the Project shall be paid by the Developer or the Owner. 9. Costs. The Developer or Owner shall each year during the Term of this Agreement pay all reasonable and itemized fees, costs and expenses actually incurred by the City, including administrative costs and attorneys' and consultants' fees required as a result of the Project, the negotiation, preparation and administration of this Agreement and all documents and agreements executed in connection therewith; provided, however, that such annual costs owed by the Developer or the Owner to the City shall not exceed Five Thousand and No/100 Dollars ($5,000.00), which maximum amount will increase by one and one-half percent (1.5%) each year during the Term. Developer or Owner shall also pay all reasonable and itemized fees, costs and expenses actually incurred by the City, including attorneys' and consultants' fees, in connection with the enforcement of its rights against the Developer and/or the Owner under this Agreement, including without limitation, the enforcement of such rights in any bankruptcy, reorganization or insolvency proceeding involving the Developer or the Owner. The Developer and Owner will be jointly billed far such costs and payment is due within 30 days of the date of invoice. Developer's and Owner's obligation to pay these costs is secured by the City's right of special assessment pursuant to Section 11(d), below. 10. City's Right to Cure Default. In case of a failure by the Developer and/or the Owner to procure or maintain insurance, or to pay any fees, assessments, charges or taxes arising with respect to the Project or to comply with the terms and conditions of this Agreement or any other document, contract or agreement effecting the Project, the City shall have the right, but shall not be obligated, to effect such insurance or pay such fees, assessments, charges or taxes or take such action as is necessary to remedy the failure of the Corporation to comply with the documents, contracts or agreements effecting the Project, and, in that event, the cost thereof shall be payable by the Developer and the Owner, to the City. 1 l. Real Estate Taxes and Assessments. The Developer or the Owner shall pay timely to the City generally applicable property taxes assessed and levied by the City on the Property under applicable property tax laws, rules, rates, regulations and ordinances in effect from time to time. Nothing in this Agreement shall impair any statutory rights of the City with respect to the assessment, levy, priority, collection, and/or enforcement of real estate property taxes. In addition, the Developer and the Owner agree to pay timely to the City all special assessments that may be assessed or levied in connection with the Property under the applicable special assessment laws, rules, regulations, ordinances and rates in effect at the time said special assessments are assessed or levied. 12. Security for Compliance. (a) The Developer and the Owner shall not sell, transfer or convey the Property, any portion thereof or any improvements thereon, to any person or entity unless such person or entity, for itself and its successors and assigns, agrees to be bound by these terms to the same extent as the Developer and the Owner. (b) The Developer's and the Owner's obligations under Section 8 shall also be secured by the City's right of special assessment or by any other remedy available to the City by statute. In connection therewith, the Developer and Owner: (i) acknowledge that the City has incurred costs for the payment or reimbursement of the Project Costs; (ii) agree that the amount of the special assessment, if levied consistent with this Agreement, constitutes a proper exercise of the City's authority to levy special assessments in accordance with Wis. Stat. §66.0701; (iii) agree that the allocation of the City's costs to 8 September 18, 2015 the Property is reasonable and commensurate with the special benefits provided to the Property; (iv) agree that the amount being assessed in accordance with this Agreement does not exceed the value of the benefits accruing to the Property from the City's expenditures identified herein; (v) consent to the imposition and levy of such special assessments; (vi) agree that the approval of this Agreement by the Oshkosh Common Council shall be sufficient to authorize the levy of special assessments in accordance herewith, and that no further procedural steps need be taken by the City; (vii) waive all special assessment notices, hearings and appeals provided by Wis. Stats. §66.0701 or §66.0703; and (viii) acknowledge that the City is relying on the terms of this Agreement, and specifically the terms of this subsection, that such reliance is reasonable, and that the City's payment of its obligations to the Developer and the Owner under this Agreement will be detrimental to the City if the provisions relating to special assessments are not enforced and that a failure to enforce such agreements would be inequitable. 13. Option to Purchase Nearbv Property. (a) The City and Northpointe Development Corporation (Developer) on November 11, 2014 entered into an Option to Purchase certain City-owned property identified as the "Southeast [sic] Corner of Marion Road and Jackson Street" whereby Northpointe obtained the ability to purchase the property, more accurately described as the Southwest Corner of Marion Road and Jackson Street (Option Property) by exercising its Option to purchase it by complying with certain conditions. The parties wish to mutually revoke this November 11, 2014 Option in its entirety and enter into a new Option to Purchase the same property subject to the terms within this Development Agreement. (b) Developer shall have the Option to purchase the property at the Southwest Corner of Marion Road and Jackson Street, and identified as "Parcel J Option to Purchase" on the map attached hereto as Eachibit D. This option shall be exercisable by Developer giving written notice of its intention to exercise its Option, along with the submission of a complete, formal proposal referenced in paragraph 12.b., below, to the City on or before 11:59 p.m. on the third (3ra) anniversary of the Effective Date. Upon receipt of the Developer's Notice and formal proposal, the appropriate City official is authorized to acknowledge receipt of the same. Upon submitting its Notice and Proposal, Developer shall be obligated to purchase from the City and the City shall be obligated to convey to Developer good and marketable fee simple title to the Option Property for the price and upon the terms set forth herein. The Developer may assign this right to an Affiliate with the consent of the City. (c) The purchase pz-ice for the Option Property shall be One Dollar ($1.00). The terms of the Option include, but are not limited to: The buyer and seller agreeing on a mutually acceptable Development Agreement; ii. Developer's Compliance with the approved Marion Road / Pearl Avenue Redevelopment Area Phase II Development Guidelines; iii. Developer must submit to the City a formal proposal within .the time-frame otherwise identified in this Option. The Formal propasal shall include an application and scaled site plan detailing building elevations site plan for a planned development; iv. Approval of the final development plan by the Redevelopment Authority and Common Council; v. Developer must provide lending finance commitment; and, 0 September 18, 2015 vi. Obtain project approval under Planned Development Overlay provisions. (d) The Developer acknowledges that the Option Property will be sold in "AS-IS" condition, without any representations or warranties by the City whatsoever (except for warranties of title). Title to the Option Property shall be conveyed to Developer free and clear of all liens, claims and encumbrances, except municipal and zoning ordinances, recorded easements, covenants and restrictions, general real estate taxes and assessments, any matters which would be disclosed by an accurate survey of the Option Property, any matters created by Developer, or their respective agents, and any other matters of record except mortgages, judgments or other liens securing obligations of the City. The Developer shall be responsible for the premiums for any title insurance desired by the Developer. (e) The Developer's option to purchase the Option Properiy shall expire and be null and void at the end of the three (3) year period noted herein. 14. Restrictions on the Use or Sale of Property. The Property is included within the Marion Road / Pearl Avenue Redevelopment Area and within Tax Increment District Number 21. The City and RDA have invested significant amounts of time and tax dollars into this Property as well as the overall Redevelopment Area and the Tax Increment District. Therefore, all parties acknowledge that it is in the public's best interests that the Property remain in the ownership of a taxable entity, and that additional deed restrictions be prohibited that would inhibit potential uses for any development on the Property. The Property shall not be conveyed to or owned by any tax-exempt entity while TID #21 remains open. No additional deed restriction shall be placed on the Property which would constrain or limit the use of the Property in any way while TID #21 remains open. Both of these prohibitions shall expire when TID #21 is closed by the City in 2033, and more specifically the restrictions shall expire on December 31, 2033 without further notice or action. The City and Authority may, at its discretion, insert these two restrictions within the deed and transfer documents at the time of conveyance to Developer. 15. Indemnifications. (a) The Developer and Owner hereby indemnify, defend and hold the City harmless from and against all loss, liability, damage and expense, including reasonable attorneys' fees, suffered or incurred by the City to the extent caused by the following: (a) the failure of the Developer or the Owner, or their contractors, subcontractors, agents, employees, or invitees to comply with any environmental law, rule, regulation or ordinance, or any order of any regulatory or administrative authority with respect thereto; (b) any release by the Developer or the Owner, or their contractors, subcontractors, agents, employees or invitees of petroleum products or hazardous materials or hazardous substances on, upon or into the Project; (c) any and all damages to natural resources or real property or harm or injury to persons resulting or alleged to have resulted from any failure by the Developer, the Owner, and/or their contractors, subcontractors and/or agents to comply with any law, rule, regulation or ordinance or any release of petroleum products or hazardous materials or hazardous substances as described in clauses (a) and (b) above; (d) claims arising on the Property under the Americans with Disabilities Act, and any other laws, rules, regulations or ordinances; (e) claims for third parties for injury to or death of any person on the Property; and (� the failure of the Developer or Owner to maintain, repair or replace as needed any portion of the Project. (b) The term "hazardous substances" means any flammable explosives, radioactive materials, hazardous wastes, toxic substances, or related materials, including, without limitation, any substances defined as or included in the definition of "hazardous substances," "hazardous waste," "hazardous materials," or "toxic substances" under any applicable federal or state or local laws or regulations. 10 September 18, 2015 16. Insurance. (a) The Developer andlor Owner shall maintain the following insurance policies is'sued by insurers with a rating of at least "A-" and in a financial size category of at least "X" as established by A.M. Best Company and licensed to do business in the State of Wisconsin: (i) property insurance on the Property with coverage limits equal to the full replacement cost of the building and contents; (ii) commercial general liability insurance with limits of $1,000,000 per occurrence and $5,000,000 in the aggregate; (iii) statutory worker's compensation insurance; and (iv) automobile liability insurance with a combined single limit of $1,000,000. (b) Each insurance policy shall.require the insurer to provide at least thirty (30) days prior written notice to the City of any material change or cancellation of such policy. 17. Nondiscrimination. The Developer and Owner shall not use the Project in any manner to permit discrimination or restriction on the basis of race, creed, ethnic origin or identity, color, gender, religion, marital status, age, handicap or national origin, and the Developer shall construct and operate the Project in compliance with all laws, rules, regulations and ordinances relating to discrimination or any of the foregoing. 18. Default. The occurrence of any one or more of the following events shall constitute a default hereunder: (a) The Developer, Owner, or any successor shall fail to pay when due any amount due from it under this Agreement; or (b) Any representation or warranty made by the Developer, the Owner, or any successor in this Agreement or any document delivered by the Developer, Owner, or any successor pursuant to this Agreement shall prove to have been false in a material way as of the time made or given; or (c) The Developer, Owner, or any successor shall breach or fail to substantially perform timely or observe timely any of its covenants or obligations under this Agreement, and such failure shall continue for thiriy (30) days following notice thereof from the City to the Developer and/or Owner (or such longer period of time as is necessary to cure the default as long as the Developer or the Owner have commenced the cure of the default within the thirty (30) day period and is diligently pursuing to cure the default and as long as the default is cured not later than one hundred eighty (180) days following notice thereof from the City); or (d) The Project is not substantially completed on or before the Completion Date (subject to matters of force majeure); or (e) The Developer ar the Owner shall: (i) become insolvent or generally not pay, or be unable to pay, or admit in writing its inability to pay, its debts as they mature; or (ii) make a general assignment for the benefit of creditors or to an agent authorized to liquidate any substantial amount of its assets; or (iii) become the subject of an order for relief within the meaning of the United States Bankruptcy Code, or file a petition in bankruptcy, for reorganization or to effect a plan or other arrangement with creditors; or (iv) have a petition or application filed against it in bankruptcy or any similar proceeding, and such petition, application or proceeding shall remain undismissed for a period of ninety (90) days or more, or the Developer or Owner shall file an answer to such a petition or application, admitting material allegations thereof; or (v) apply to a court for the appointment of a receiver or custodian for any of its assets or properties or have a receiver or custodian appointed for any of its assets or properties, with or without consent, and such receiver shall not be discharged within ninety (90) days after its appointment; or (vi) adopt a plan of complete liquidation of its assets. 11 September 18, 2015 19. Remedies. Upon the occurrence of any default, without further notice, demand or action by any kind by the City, the City may, at its option, pursue any one or more of the following remedies concurrently or successively: (a) Pursue any or all of the rights and remedies available to the City at law and/or in equity against the Developer, the Owner, and/or the Project. (b) The Developer and the Owner have represented to the City that they maintain a separate agreement which describes their respective obligations to perform the tasks described in this Development Agreement and to thereafter receive the benefits for performing these tasks. The City and the Redevelopment Authority remain only interested in the appropriate and lawful use of public funds, the development of the Property, and the timely completion of the Project. Therefore, the Parties agree that the Developer and the Owner are jointly responsible to the City for all terms, conditions, warranties, and covenants described herein, regardless of whether any description uses the connector "and," "or," or "andlor." The City may take any enforcement action against either or both at its sole discretion. (c) Except as may be otherwise specifically set forth herein, no remedy herein conferred upon the City is intended to be exclusive of any other remedy and each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement, and/or available to the City under any other covenants, restrictions, documents or instruments, and/or now or hereafter existing at law or in equity. No failure or delay on the part of the City in exercising any right or remedy shall operate as a waiver thereof nor shall any single or partial exercise of any right preclude other or further exercise thereof or the exercise of any other right or remedy. Notwithstanding any of the foregoing authorizations, the City shall have no duty or obligation whatsoever with respect to any of the matters so authorized. 20. No Personal Liabilitv. Under no circumstances shall any council member, official, director, attorney, employee, or agent of a party have any personal liability arising out of this Agreement, and no party shall seek or claim any such personal liability. 21. City Authorization. The execution of this Agreement by the City is autharized by Common Council Resolution No. 15-356 dated July 28, 2015. 22. Miscellaneous. (a) Except as otherwise specifically set forth herein, the respective rights and liabilities of the City and the Developer and Owner in this Agreement are not assignable or delegable, in whole ar in part, without the prior written consent of the other party. Provisions of this Agreement shall inure to the benefit of and be binding upon the successors and assigns of the parties. (b) No waiver, amendment, or variation of the terms of this Agreement shall be valid unless in writing and signed by the City and the Developer and the Owner, and then only to the extent specifically set forth in writing. (c) All material applicable agreements, representations, warranties, covenants, liabilities and obligations made in this Agreement and in any document delivered pursuant to this Agreement shall remain effective during the Term of this Agreement. (d) All communications or notices required or permitted by this Agreement shall be in writing and shall be deemed to have been given: (i) upon delivery to an officer or the person entitled to such notice, if hand delivered, or (ii) two business days following deposit in the United States Mail, 12 September 18, 2015 `e postage prepaid, or with a nationally recognized overnight commercial carrier that will certify as to the date and time of delivery, air bill prepaid, or (iii) upon transmission if by facsimile, any such communication or notice shall be addressed as follows, unless and until any such party notifies the other in accordance with this section of any change of address: If to the Citv: City of Oshkosh Attn: Director of Community Development 215 Church Avenue Post Office Box 1130 Oshkosh, WI 54903-1130 Facsimile No. (920) 236-5053 With a Copy to: Oshkosh City Attorney's Office 215 Church Avenue Post Office Box 1130 Oshkosh, WI, 54903-1130 Facsimile No. (920) 236-5106 If to the Owner: The Rivers Phase II — Oshkosh, LLC 230 Ohio Street, Suite 200 Oshkosh, WI 54902 Attn: Andrew Dumke Facsimile No. (920) 230-6484 If to Developer: Northpointe Development Corporation 230 Ohio Street, Suite 200 Oshkosh, WI 54902 Attn: Callan L. Schultz Facsimile: (920) 230-6484 With a co� ��to: Attorney Jason J. Hirschberg (for both Owner Hirschberg Law, LLC and Developer) 601 Oregon Street, Suite A Oshkosh, WI 54902 Facsimile No: (920) 744-0102 (e) This Agreement and the documents executed pursuant to this Agreement contain the entire understanding of the parties with respect to the subject matter hereof. There are no restrictions, promises, warranties, covenants ar understandings other than those expressly set forth in this Agreement and documents executed in connection with this Agreement. This Agreement and the documents executed in connection herewith supersede all prior negotiations, agreements and undertakings between the parties with respect to the subject matter hereof. (� This Agreement is intended solely for the benefit of the Developer, Owner, and the City, and no third party (other than successors and permitted assigns) shall have any rights or interest in any provision of this Agreement, or as a result of any action or inaction of the City in connection therewith. Without limiting the foregoing, no approvals given pursuant to this Agreement by the Developer, 13 September 18, 2015 Owner, or the City, or any person acting on behalf of either of them, shall be available for use by any contractor or other person in any dispute with the construction of the Project. (g) This Agreement shall be governed by, and construed and interpreted in accardance with, the laws of the State of Wisconsin applicable to contracts made and wholly performed within the State, with the venue of any dispute being Winnebago County, Wisconsin. (h) This Agreement may be executed in several counterparts. Each counterpart shall be deemed an original, with each counterpart collectively constituting but one in the same Agreement. Facsimile signatures shall be deemed original signatures for all purposes of this Agreement. (i) Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be in effect to the extent of such prohibition or enforceability without invalidating the remaining provisions of this Agreement in such jurisdiction or affecting the validity or enforcement of any provision in any other jurisdiction. (j) Nothing contained in this Agreement or any other documents executed pursuant to this Agreement shall be deemed or construed as creating a partnership or joint venture between the City, the Owner, and the Developer, or between the City and any other person, ar cause the City to be responsible in any way for the debts or obligations of the Developer or the Owner, or any other person, or cause the Developer ar the Owner to be responsible in any way for the debts or obligations of the City or any other person. Each party represents, warrants and agrees, for itself and its successors and assigns, not to make any assertion inconsistent with its acknowledgement or with the acknowledgement and agreement contained in the preceding sentence in the event of any action, suit or proceeding, at law or in equity, with respect to the transactions which are the subject of this Agreement and this paragraph may be pleaded and construed as a complete bar and estoppel against any assertion by or for a party and its successors and permitted assigns, that is inconsistent with its acknowledgement and agreement contained in the preceding sentence. (k) Time is of the essence as to each and every obligation or agreement contained in this Agreement. (1) If any party is delayed or prevented from timely performing any act required under this Agreement other than the payment of money, by reason of fire, earthquake, war, terrorist act, flood, riot, strikes, labor disputes or shortages, government restrictions, judicial order, public emergency, or other causes beyond the reasonable control of the party obligated to perform, the performance of such act shall be excused for the period of such delay and the time for the performance of any such act shall be extended for a period equivalent to such delay. (m) This Agreement, or a memorandum of this Agreement, may be recorded in the office of the Register of Deeds of Winnebago County, Wisconsin, in lieu of the full Agreement. It is understood by the parties that until Expiration Date, this Agreement will run with the land and will be binding upon the Property. (n) The Developer and Owner shall enter into a separate storm water management facility operation and maintenance agreement with the City that will address storm water issues related to the Property. In the event that storm water issues arise prior to the time this storm water agreement is signed by the parties and recarded with the Register of Deeds, then Developer and the Owner shall fully comply with the grading and drainage plan for the Property on file with the City Department of Public Works and all applicable storm water codes. The City shall have the authority to enter the property and resolve all grading and drainage issues at Developer's expense including, without limitation, special 14 September 18, 2015 charges for such work being placed against the Property. This Agreement inures to the benefit of the City and its successors and assigns. (o) The headings to this Agreement are for reference only and are not intended to modify any of the terms and conditions of this Agreement. (p) Nothing contained in this Agreement is intended to or has the effect of releasing the Developer or the Owner from compliance with all applicable laws, rules, regulations and ordinances in addition to compliance with all the terms, conditions and covenants contained in this Agreement. (� This Agreement is the product of negotiation between the parties hereto and no term, covenant or provision herein or the failure to include a term, covenant or provision shall be construed against any party hereto solely on the basis that one party or the other drafted this Agreement or any term, covenant or condition contained herein. (r) Upon mutual consent of tlie parties to this Agreement, which consent any party can withhold in its sole discretion, the parties can agree to submit disputes arising under this Agreement to alternative dispute resolution. (s) All amounts not paid when due hereunder shall bear interest at the rate of twelve percent (12%). 23. Other A�provals. In addition to any approvals required under this Agreement, the Developer and/or Owner shall be required to obtain all approvals, consents, and licenses as may be required by any governmental or non-governmental authority in connection with the Project, including, without limitation, all building permits, Project Plan approvals, storm water approvals, and zoning approvals. The Developer's and/or the Owner's compliance with the terms of this Agreement shall not relieve the Developer or the Owner from complying with all applicable federal, state and local laws, rules, regulations and ordinances in connection with the Project and to the extent any governmental or non-governmental entity imposes different or more restrictive conditions on the Developer, the Owner, or the Project, compliance by the Developer and the Owner with the terms of this Agreement shall not relieve the Developer from complying with such different or more restrictive conditions. Likewise, any less restrictive conditions imposed on the Developer, the Owner, or the Project by any governmental or non-governmental authority shall not relieve the Developer, the Owner, or the Project from complying with all of the terms and conditions of this Agreement. [SIGNATURE PAGES FOLLOW] 15 September 18, 2015 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. CITY OF OSHKOSH, WISCONSIN By: �-- Ma k A. Rohloff Its: City Manager --. _ _ __ By����. ^ � Pamela R. Ubrig � Its: City Clerk �•.• ��. . � � �, � � �i. � ���1.� . J�i� - •� -�- �� - , • I hereby certify that the necessary provisions have been made to pay the liability which will accrue under this Agreement. � (�Q ��� Trena Larson, Finance Director STATE OF WISCONSIN ) ) SS COUNTY OF WINNEBAGO ) Personally came before me this �� day of �`�t',�M,�-�., 2015, the above-named Mark A. Rohloff and Pamela R. Ubrig, to me known to be the City Manag r and City Clerk of the City of Oshkosh, Wisconsin and the person who executed the faregoing document and acknowledged the same. Q �. �.Q �- �� +��u� ��� * r(���� � � c� �« Notary Public, State of /(.) �sc ,� ; �� My commission: �7 Cv/v1L� 1 � [SIGNATURES AND ACKNOWLEDGEMENTS CONTINUED NEXT PAGE] 16 September 18, 2015 STATE OF WISCONSIN COUNTY OF WINNEBAGO THE RIVERS PHASE II — OSHKOSH, LLC : ) ) SS ) _f Andrew J. Dumke, Managing Member On this �� day of '�,r,,`� , 2015 personally came before me Andrew J. Dumke, to me known to be the person who executed the foregoing instrument and acknowledged the same. STATE OF WISCONSIN COUNTY OF WINNEBAGO C�� �Z Q�.�, � � � Notary Publ c, State of Wis on in My commission expires: 7�C�% �D 1� . NORTHPOINTE DEVELOPMENT CORPORATION By: � Callan L. Schultz, President ) ) SS ) � On this � 8�day of � y.�-�2 , 2015 personally came before me Callan L. Schultz, to me known to be person who executed the foregoing instrument and acknowledged the same. �,ti� c �,c�, ��1 Notary Pub ic, State of Wi con iri . 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Homen, regisEered lond aurveyor, hereby cerfify: 7hot in (vll compliance with ihe provislons o( Chopfe� 236, aoctfon 256.34 of the Wisconsin Stalutes, the Land Subdivision Ordinonce of 1Yinnebago Counfy, and Ehe City af Oshkosh, ond under the direction of the Rodevolopment kuthority of the Gty o( Oshkosh, owner of said Iend, I have surveyed, divided and mopped the foflowing lond being oli of Lot t and lot 2 of Cerftfied Survey Map kumbet 5879. Being a port of Ehe Souih 1/2 of the t2orlhaast 1/4 and part o( the North 1�2 of the Svufheast 1/4 0( Section 23, Townehip t8 florth, Ranga S5 Easi, First N'ard, City of Oshkosh, VYnnebago County, weconaln, more fufly described as (ollows; Commencing ot the Eosi }� comer af said Section 23; thence 501'17'26�E along ihe east line of the Kortheost i/4 ef aald aection, 403,23 feet; thence S86'42'34"W, 69.52 feel to a point on lhe west right—of—vtay of Jacksa� Street and the eaeterly iine o} Lot 1 oI CertHied Survey Idap Number 5879, ti�al also being ihe Polnt of Beginning; thence along said right—ol—way and the easteriy fine of soid Lof 1 S01'2i'37'E, 291.05_ feeN, thence afonq the eosterly l(ne of said Lot 1 SBB'JS'23'W, 30.00 (eef; thenca continuing along the eosEerfy line of sald Lat t Sa5'06'42'V/, 86.04 feet to the sovfheast corner o( aoid Lol 1; thence olonq the souihet(y liae of eafd lot 1 N65'43'2bli', 656.90 feet; thence N62'16'26'W, St6.83 (eet along the southerly line o( sald Lok t and the aoutherfy llna ct Lot 2 0( Certified Survey, Map hfvmbai 5079 to the southwesterly comer of sold lot 2; thence along the westefiy fine of eoid lol 2 N3T05'00'E, 2Si,73 ,feai fo a point on the aoutherfy righf—of—woy of Marion Rood ond the northwest corner of sold Lot 2; thence ofong soid southeriy righl—of—woy S65'46'22`E, 866.59 feet; khence contin�ing a4ong said southerfy ri9ht—of—woy S55'54'10'E, f35.02 leet; thence continuinQ alang aald souther{y righE—of—w�ay N85'20'29'E, 60.73 feet; thence eonfinuing along sald southeriy righf—n(—way N88'SS'48�E, 19k.24 feet; thence contlnuing along soid southerly right—of—way 54.99 feet on a curve to the right having o rodiue af 35.06 /eet, vrhose chord bears 54b'25'24"E, 49,51 feel to a point on the westerty righf—of—woy of Jackson S{reef and ihe Point of Beginnfng. Said parcet cpntoSna 370,656 squo�e feet o� 8.509 acres more o� less. Sald parcel is atlbJect to eosemants of record. That the survey o! sold fond was done �under my direct supervision and the rnap hereon Is a true and oc:urate repressnfation of the eufetio� boundories ond the divislon thueof. � / \,`�tltflt�r/�rJ'// t� „ _� _ ��, L�j�/�A `�\�,\CJG�r�*S��/�� . /'-°. `' 1 // / � \ o V` � Ck 1�0. tvxs�x s-2aw � ' CRAiG � Rec�s�t� wto svm�roR. D. s�,tsrn zo, zooe =�, HANSEN * r rrus ts fx oRiccwv. surzvEr S•2840 — DOCVAlFNf (F iHE YROFESS10NAl � , qPPLE70N SEJJ_ 15 (6lPRU1TED IN RFD MD ('. W� � \� SlCNm fN BLUE �i � . , •' pQtid � 1 � � ��''�, Q S U R�E``�. • ��Ifiluttt�� �h�bl� Z .� �r 5 CERTfFfED SURVEY MAP ALI. OF LOT 1 M70 L07 2 OF CFRTiFfED SURVEY AUP NUAiBER 5879. BEINC A PNZT OF 1NE 50UTH 1/2 OF lHE NOF7iHEFST t/4 M!0 PART OF THE NoKTH f/2 Or TNE SOtfTHEkSt 1/4 oF SECTION 23, 7oWN5kIP i8 NOKT}i, RF,kCE 16 FASi, FlR5f WARD, CfiY OF OSHKOSH, W1NNE&4C0 COUNfY, WtSCONSih, �fUI�ICIPAL OWNER�S CERTIFICATE � � `7 A�eaM 1035 Kepler Dm�e Grean Bay, Wf 543i5 920.16B.t978� WF�S'.aBCOT.q(it fc�el�Hm2JJi B/. ie^� The Redevetopmenl A�thority of tha City of Oshkosh, e aeparate body publlc organized and exl�ting under and by virfue of tfia Lowa of the Stote of Wi�consin, as owner, doee hereby cerlify thaE said Aulhority causad the land described lo be surveyod, divided, and mapped aa represented on this map, In accordance with the provisiona of Chapter Z36 0l lhe �sconsin Statutes ond the land Suhdivislon Ordindnce of the City of Oshkosh. fn Wlness whe�eof, the noid Redevelopmen� Auihority, has cavsed 4hese presenta to be signed by Ja�kson R. Kanney it� Ex�utive I1i.rector , end counlenigned by ��S �� C�,tilc0.11 �� doy of �pt� Redevelopment AuthoriFy af the City of Oshkosh: JOC 4 n . Kinney E%Ct V DifGCtO( J �� Thomas Befier Chairman ;is �� �'+'�-`�n , thls 20 � . at SiA7E OF WISCON5IN) :SS W1NNE8AC0 COIJNiY) Personolly came beforo me thio �h doy o} �p�r , 2009 tht otorementioned representalives of Ehe Redevelopment Authority of the City of Oshkosh, known to me to be the persons who ezecuted the fo�gofng (nstrvmenf an ack owledged the eam ' �- VI l�V'1"' — iJotary''Publfc, '/ Afy,eommisslon ezplres ��/���� Ylrinebogo County, $tata of Wisconsin h � • .� _... •. �. .E �� �� This CcriiFlod Survey lAap of po�t of the Soufh 1/2 of the Northeast 1/4 and Qatt ot lhe Nor;h t/2 of the SouEheast S/4 in Section. 2J, Township t8 North, f2onge 76 Eost, FirsE YJafd, City of Oahkosh, Winnebogo County, Y(sconsln, Is hereby opprovad. - � �,�'f � 9=2Y- a� Cit a ng Commissfon Dote � Repreaentafiva ����. �•�-`r- ���09 o. k�xsert s-2e4o •�R'cCIS1ERED V.+VD SURVtYOR -SEPT'1tBER �26, 2009 tl-!1S IS NI ORICIlUJ. SURYEY pOGU1tENT IF T}SE PROFE3510W,L �•SE/�I. 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W W cv 3 r-I zl r' p � � Z O�= O h�' / O � U1 � �� � �" �, " n= v� ��' Y UI iJ • �a llJ> °�v=i � / ^,� p� et Z � �- v� o tp (Q� �$�6. , ,('�� jO�p�' � � 2w�p .9�+Z +. �' \. . p ,- � �/ 4a ol'�8£F�.btS �� / "° g �� � � o� � � � F- gl o $ W`'� O��I � � o� UI , � d a C� U � ~ S O�F- / ' : O S P az° / N '� �' � � V s s � � �;C� o z }_� � ; � A�R h a � 4 4 ��� � x � wz' P ai�r� � �����ft � L, , � _ G.� J LEGAL DESCRIPTION The Rivers 1.5 Lot Oshkosh, WI A paxcel of land, being a part of Lot 2 of Winnebago County Certified Survey Map No. 6408, located in the NE 1/4 of the SE 1/4 of Section 23, Township 18 North, Range 16 East, First Ward, City of Oshkosh, Winnebago County, Wisconsin, being more particularly described as: Beginning at the Northwest corner of said Lot 2 of Certified Survey Map No. 6408, said point being on the southwesterly right-of-way line of Marion Road; Thence S65°-46'-22"E, along said southwesterly right-of-way line, 238.54 feet; Thence S24°-13'-36"W, 149.48 feet to the beginning of a curve to the right, having its radius point bearing northwesterly, 290.00 feet; Thence southwesterly 193.16 feet along the arc of said curve, the long chord of which bears S85°-11'-09"W, 189.61 feet to a point on the northeasterly line of Outlot 1 of Certified Survey Map No. 5879 and the end of said curve; Thence N62°-10'-26"W, along said northeasterly line of Outlot 1, 72.91 feet to the southwest corner of said Lot 2 of Certified Survey Map No. 6408; Thence N24°-13'-38"E, along the westerly line of said Lot 2, 236.95 feet to the Point of Beginsiing and the end of this description; Containing 51,843 square feet, or 1.190 acres of land. LEGAL I9ESCRIP'I'ION Outlot Adjacent to The Rivers 1.5 Lot Oshkosh, WI A parcel of land, being a part of Lot 2 of Winnebago County Certified Survey Map No. 6408, located in the NE 1/4 of the SE 1/4 of Section 23, Township 18 North, Range 16 East, First Ward, City of Oshkosh, Wirinebago County, Wisconsin, being more particularly described as: Commencing at the Northwest corner of said Lot 2 of Certified Survey Map No. 6408, said point being on the southwesterly right-of-way line of Marion Road; Thence S65°-46'-22"E, along said southwesterly right-of-way line, 238.54 feet to the Point of Beginning of this description; Thence continuing S65°-46'-22"E, along said southwesterly right-of-way line, 20.00 feet; Thence S24°-13'-36"W, 253.21 feet to the northeasterly line of Outlot 1 of Certified Survey Map No. 5879; Thence N62°-10'-26"W, along said northeasterly line of Outlot 1, 186.14 feet to the beginning of a curve to the left, having its radius point bearing northerly 290.00 feet; Thence northeasterly 193.16 feet along the arc of said curve, the long chord of which bears N85°-11'-09"E, 189.61 feet; Thence N24°-13'-36"E, 149.48 feet to the Point of Beginning and the end of this description; Containing 11,519 square feet, or 0.264 acre of land. Descriptions by: Ken Wolf, PLS-1421, AECOM June 25, 2015 Project No. 60432283 ��C�Iblt `� e�� DocumentNumber Lease Agreement Document Tit1e This LEASE AGREEMENT (the "Lease"), made and entered into this ��day of �: �, 2015, is by and between the City of Oshkosh, (CIT� a Wisconsin municipaliiy, and the Redevelopment Authority of the City of Oshkosh, (RDA) , withtheirprincipal offices located at 215 Church Ave., P.O. Box 1130, Oshkosh, Wisconsin 54903-1130, (collectively "Lessor") and The Rivers Phase II— Oshkosh, LLC (Rivers I� 230 Ohio Street, Suite 200, Oshkosh, Wisconsin 54902 ("Lessee"): RECITALS RDA owns real property within the 1Nlarion Road/1'earl Avenue Redevelopment Phase II Area (Project), in the City of Oshkosh, Winnebago Couniy, Wisconsin. Recording Area Name and Return Address City Attorney's Office 215 Church Ave. P.O. Box 1130 Oshkosh, WI 54903-1130 0102220000 Property Identification Number 2. The Project includes real properly to be redeveloped both North of Marion Road ("Project —North") and South of Marion Road ("Project— South"). The property included in this Lease (Leased Premises) is withul Proj ect — South, and in particular is a part of Lot 2 of Certified Survey Ivlap 6408, which was recorded with the Winnebago County Register of Deeds as Document Number 1520619 on October 5, 2009. A copy of CSM 6408 and the specific part of Lot 2 that is subject to this lease is attached as E�ibit A and is fully incorporated into this Lease. 3. RDA has leased its real property within the Project axea to the CITY for the purpose of facilitating its redevelopment. 4. Lessor and Lessee have entered into a Development Agreement ("Agreement") dated. o�$" , 2015, and recorded with the Winnebago County Register of Deeds as Document Number on , 201.5, for the puxpose of constructing a mu.lti-family residential development on the Leased Premises. A copy of the Agreement is not attached hereto but Lessee acknowledges that it read and signed the Ab eement, retains a copy of the Agreement, is familiar with it and agrees to be bound by its terms as it may pertain to the development of the Leased Premises. A copy of the development footprint is attached at Exhibit B and incorporated herein. 5. Environmental remediation is required to be performed on the Leased Premises and certai.n funding sources for this environmental remediation require that Lessor retain ownership of the Leased Premises until remediation is completed. 6. It is in both parties' interest that Lessee begi.n construction of its multi-family residential structure and related improvements (Aparkments) on the Leased Premises prior to the completion of the environmental remediation, and the purpose of this Lease is to allow tlus commencement of construction. uly 8, 2015 Ei� h � b �'� f-� �jD � ��s � Lot 2 of CSM 6408 will be divided through a new CSM after the completion of the Apartment construction as deterrruned by the Lessor and the completion of the environmental remediation as determuled by the appropriate state or federal agency. A draft of the fuiure CSM is attached hereto as Exl�ibit C. The Apartment development subject to the Ab eement and to this Lease will be located on a portion of land within Lot 2 of CSM 6408. Until the future CSM is filed, the actual Iocation (Leased Premises) of this Apartment development can only be described by a metes and bounds description which follows. Ii is expected that the lot in the future CSM conesponding to the Leased Premises will be materially comprised of the metes and bounds description that follows: Attached as E�ibit A The development of the Leased Premises described in the Agreement and in this Lease will be financed through Choice Bank (Lender);and with a tax credit sale through the Wisconsin Housing and Economic Development Authority (WI-�DA). The Lender andlor WI�DA may request and may be granted an interest in this Lease up to and including the right to purchase the Leased Premises from the Lessor in place of Lessee. However, the assignment of any Lessee interest in the Leased Premises must be related to the Apartments development and pursuant to the ierms of the Agreement, must be contingent with such transfer becoming effective in the event of a default by Lessee, and must be more fully described in separate documents reasonably agreeable to the Lessor. All assig11t11ents, transfers, conveyances of the Leased Premises will be subject to continuing obligations under the Ab eement. AGREEMENT 9. All Recitals are incorporated into this Ab eement. 10. In exchange for one dollar ($1.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Lessor ab ees to lease to Lessee, and the Lessee ab ees to accept such lease, the property identified and described in this Lease (Leased Premises) on the terms and conditions expressly set forth and referenced herein. . 11. The term of this Lease sha11 commence on the date it is executed by all parties, and shall end on the earlier of: (a) the date that is ni_nety-nine (99) years after the date of commencement of this Lease; (b) the date in which Lessee, or a Project Lender as may otherwise be allowed under a lease ass banment, closes on its purchase of and acquires fuIl ownership interest in the Leased Premises; or, (c) the Agreement is ternv.nated. 12. This Lease shall terminate without notice upon the insolvency of Lessee, upon Lessee's seeking bazlkruptcy protection, or upon any Lessee creditor other than Lender obtauung any interest in Lessee or Lessee's property. Lessor may elect to tei7ni.nate this lease based upon a material default of this Lease which remains uncured after providing 30 days notice of such default. 13. Pursuant to the terms of the Agreement, Lessee is obligated to take certain remediation actions at the direction of the Wisconsin Department of Natural Resources and others relating to e�sting hazardous substances on the Leased Premises (Remediation). Lessee shall perform the Remediation pursuani to the terms of the Agreement, the terms of any grants utilized for this purpose, and the terms required by the Wisconsin Department of Natural Resources (WDNR). Lessee must take all necessary actions which will result in a Certif cate of Completion from the WDNR for the Leased Premises. Remediation of the site 2 Ju1y 8, 2015 cannot be completed until construction of the improvements on the Leased Premises,is completed, and the Leased Premises cannot be conveyed by Lessor until the Remediation is complete and a11 applicable grants used for Remediation are closed out. Lessee shall close on its purchase of the Leased Premises on the earliest practical date after the later of the two following events: the issuance of the Certificate of Completion; or, the closeout of the Remediation b ants. It is expected that the grants will be closed out by the Agencies within one hundred iwenty (120) days after the issuance of the Certificate of Completion. All parties agree that the timely expiration of this lease, and conveyance of the Leased Premises, is in everyone's best interest and will work in good faith towards that end. Lessor shall convey the Leased Preniises to Lessee pursuant to this Lease and the Ab eement. 14. There shall be no Lease payments due from Lessee to Lessor other than the payment identified in parab aph number 10, above, except as may be required by this Lease or the Ab eement during the term of this Lease. 15. The Lessee shall be allowed to construct and operate an apartment building and related improvements on the Leased Premises as approved by Lessor pursuant to the terms of the Ab eement and consistent with other government rules and regulations. No ab eements by Lessee with others which purport to allow the use of the Leased Premises in a manner contrary to this Lease, or to the Agreement, shall be allowed, or enforceable, against Lessor or in rem against the Leased Premises. 16. Duxing the term of this Lease, the Lessor shall be allowed reasonable access to the Leased Premises for any purpose related to any municipal or police power function, to meet its obligations under this Lease or the Ab eement with The Rivers Phase II- Oshkosh, LLC, or to func�ion in its capacity as the owner of the Leased Premises. Lessor shall malce all reasonable efforts to not materially disrupt Lessee's allowed use of the properly. 17. During the term of this Lease, Lessee shall be deemed the owner of all improvements constructed on the Leased Premises by Lessee, subject to any legal rights of third parties. Lessor may take actions to gain ownership of improvements upon the abandonment of the development and related interests by Lessee, assignees, or others by providing known interested parties notice and a right to cure default or to affirm interest in the Leased Premises. 18. The Lessee has had sufficient access to the Leased Premises and as a result is or should reasonably be aware of all aspects related to its condition. The Lessor makes no express or implied promises or warranties related to the condition of the Leased Premises except those identified in the Agreement, as Amended and Restated. 19. Lessee assumes full and complete responsibility for any development activities, fi�li.ires, or i_mprovements to the Leased Premises prior to the date Lessee purchases the Leased Premises pursuant to this Lease. 20. Lessee acknowledges that it assumes the responsibility of ensuring that its investments in or on the Leased Premises are protected through separate ab eements with its Lenders or other measures allowed by Iaw. 21. Lessee shall have all necessary insurance with sufficient Iimits which wi1l cover its employees, actions and property on the Leased Premises. Lessee shall hold the Lessor harmless from any accident or incident involving Lessee, its employees or agents, or any dispute with The Rivers Phase II- Oshkosh, LLC or any 3ra party resulting from any action of Lessee, its agents or assigns, occurring during the term of this Lease. 22. The Lessee is responsible for paying all utilities, costs, expenses, and obligations of any kind incurred during July 8, 2015 the term of this Lease. The Lessee is fiirther required, at its expense,.to keep and maintain in good order, condition, and repair the Leased Premises and all i_mprovements constructed thereon. 23. Lessee shall not a11ow any encumbrance to be filed on or against the Leased Premises, including mortgages, easements, or similar�restrictions. 24. All terms of the Ab eement pertaining to the Leased Premises are incorporated into this Lease, including but not limited to representations and warranties. Lessor may pursue any breach or default of this Lease or of the Ab eement as allowed by law. 25. Lessee's restrictions on the use of the Leased Premises during the terms of this Lease are set forth in the Ab eement, and are specifically incorporated into this Lease. All other terms; conditions, benefits, burdens, and agreements between these parties relating to the Leased Premises shall remain in full force and effect, witliout alteration, with the exception of any terms that prevent the Lessee from constructing and operating the approved apartment complex prior to taking ownership of the Leased Premises; and, SIGNATURE PAGE TO FOLLOW � July 8, 2015 1N WITNESS WHEREOF, the parties hereto have executed ihis Ab eement as of the date first above written. LESSEE: The Rivers Phase II-Oshkosh, LLC A Wisconsin Limited Liabilit�� Company By: The Rivers Phase II— Oshkosh — MM, LLC A Wisconsin Limited Liability Company, It's Manager LES S OR: City of Oshkosh ' �- � Mark A;Rohloff, Cit� Manage� B�, .�� ,�; -� �,�,�,� Y �Pamela R. Ubrig, City Clerk By: Northpointe Development Corporation A Wisconsin Corporation, It's Sole Member By: �----- `"�— Ca11an L. Schultz, President T'his document drafted by. David J. Prasl:a Assistant City Attomey Oshl:osh, Wisconsin 54903 7uly 8, 2015 5 Oshkosh Steven Authority , . ; - - --_ f �ir ' % � , — , H. Allen Davis, Executive Direct�r o y� �S s`� �� W8 �� �� �,� Q=�� ���o. ti� �a� ��� � ea� �} Ua �+� U� �oF � N�� � �zm � ���, � � o• o\� z �� m a w� � 4 0 �_ o� m 6 . i ��= \ ��a �EB"-------1r—, �� fZ'[OF 3.ti�l�L � — _ _ .---• ^ T — � y � i �. � m � �� s�x , . i ��¢ , � � I i �� , ,. 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UO o�o �F � ti � � �� � I 4 ' ����� . ( j. �2�£� ]. � ' �'IH}�EBAGQ +COiJHTYC�}�I R��QRbED OH ,} /p�l2P��9 1f i28d}� ..,�� ' JIJL �E `F'' 'GEL �°� - �'P � � 4 �EGISTER OF DEEDS � RECORDING fiEE 17.00 �R�HSFER fiEE � GF PAGES , Q s � �, 0�5�-,l��s � c--� 4 � � �� �1 i � i � �� � G�� � CERTIFIED SURVEY MAP ALL OF lOT 1 AND LOT 2 0� CEAIIFlED SURYEY 1lAP NUMer'R 5879. BEiNC h PAR'f oF THE soUTH 1/2 OF iHE NoHTNE�i i/4 Akp P!•RT flF TNE NOfZi'H i(2 OF THE SOUTHF�Sf T/4 oF SEG710K 23, TOY1t15N1? t8 KOfZii{, ftAt�GE t6 FAST, FlR57 YlARD, C(TY OF OSHKDSN, WINNEB4G0 COUN7Y, WISCANS(N. SURVEYORS CERTIFICATE � C9�oS AEC�M 1035 K-p!er Drive Green Bay, l'1154311 920.Cb8,19T8 W+t•x.aecotn.com ucr�etitmioot er tiw�t I, Craig �. Hanae�, registored land aurveya�, he�eby �e�;ry: rnat irl full compliance with lhe p7ovislons of Chopfe� 236, aectlon 236,34 of Ehe �sconsln Statvtca, ihe Land Subdivision Ordinonce of Winnebo90 Counfy, and the CiLy of Oshkosh, ond under Ehe direction of tF�e RedevaJopmen� Authority of the Cily of Oshkosh, owner of sald lond, � have autvcynd, divided ond mopped the (ollowing lond being ali of Lof f and lol 2.ot CerFffied Survey f.{ap Number 5879. Being a port of t}�e South t/2 0( the Nor{haast 1/4 ond part of the North i/2 ot the Sovihces{'t/4 of Seetion 23, Tor�nahip t8 Herfh, . Ranga T5 EasE, Fra} H'ard, Cily o( Oshkosh, Winnebago County, Wiaconeln, more (ufly described a: follows; Commencing oE the Eost }� eomer of said Section 23; thenca SOt'17'26'E along ihe eost line of the Northeast 1�4 of eald �ection, 403.Z3 feet; fhence 586'42'34'W, 69,52 feet to e paint on ihe west ri9hi—of—vtay of Jackson Streat and tfie castcrly line of Lot 1 0l Certified Survoy Idop Number 5879; #fial also bein9 �he PolnE of eegfnning; {hence olong aaid right—o(—way and fhe nasteriy line of soid Lof i SOt'2i�37"E, 291.05, feet: the�ce afnng tha easterly line of soid �ot 1 S88'JS'23'W, 30.00 feet; thence conFinuing along the eosEerly Ilna of sald Lo} 1 SOS'O6'42'Vl, 89,04 feet Eo the souEheost come� o( ooid Lol 1; lhe�ce along lhe soUlhe�fy Iine oE eafd Lol S N65'43�26"'K, 656.90 feel; thence N62'10'261y, 816.83 (eeF vlong ihe �outherly Ijne o( sald Lot 1 and the eoutheriy Ilnc o! Lot 2 0( Certified Survey, Map Num6ef 5679 to the southwezlerly com�r o( sojd lot 2; ihence along tfie westerfy fine of soid Lot 2 N3T05'00'E, 254.73 ,feet to a point on the southerfy righE—of—way of Manon Road and the norEhwest corner of nald Lot 2; thenca ofong said southerly ri9hl--o(—way S65'46'22`E, 886,58 fee4; thence contin�ing along said southerly fight—of—way S65'54'10'E, 135.02 feel; thence continulnQ along aald souther�y right—of—w'ay N85'20'29'E, 60.75 feef; ih�nce conflnuing olong sald eouFh�rly righi—of—way N88'35'48`E, 19i_29 feet; thencc eonk)nuing along aold southerfy right—of—woy 54�99 feet on a ctirve to the righl having o rodiva a! 35.06 feet, r�hose chord been S46'25'24"E, 43.51 feet to a point on the westerly right—of—woy of Jockson Slre�t and lha Point oi Beginning, Soid porcel eontalna 370,SSb squore feet or 8.5�g acres more of lese. So{d parcei ia subJect [o easements of reeord. � 'f'haf th: suryay of so}d land wae done undef my direcF supetvision and the rnop hereon li a true ond occurate represontation of the ezterior boundaries ond the divislon Eheteof. ' `\`��tftrlr�r���� �� ��K, y����o y o��,.�`SGONS�N%,�. : C D. HNiSEN 5-2840 ` ,•CR/{�(z'' RcGfS;EREO LWD SVFNFfOR. ' D. — s�r�esot zo, 2oos = � ; HANSEII � � _ ntis �s fx oRic�wt su�rn S-2B40 — DoCV1AENf fF THE PRO�SS1oµV, •�, APf'1FfON .� SFJtL 15 !6lPRIH7ED IH RFD M'0 - ' `', W� ` SIGNED fN BLUE %i 'T I/� •••;��`�,����\ ''�,,V� SuRV��.�`� • f�l/lllflt��t �hl�l� �,�c� � � � Le yc CERTIFlED SURVEY MAP /1L,OF L07 1 MID LOT 2 OP CEXT1Fim SURVEY F,(/P NUAiBER 5879. � AECOM B�NC A p/,RT OF THE SOUTH 1/2 OF THE NORTHE/Sf i/4 ANO PART OF THE kORTH 1/2 Or iNE SOUT7IEh51' 1/4 OF SECi10N 23, 70WNSHIP FS HOFZTH, RAkGE i6 EST', FlR57 WARD, C[iY oF oSHKOSH, 411NNE9ACO COUKtY, Y,75CONSIN. 1 �35 Kepler Drn�e Green Bay, 1M 5d315 920,<6B.1978� WJ.X'.19COT.pff1 C�F.lm2J�i By.IFAW MUNICIPAL OWNER'S CERTIFICATE The Redevefoprnenl Au[horify ot ihe CiEy of Oshkosh, a eeparatc body publle ofaanized and exl=ting under and by yiriue of the Lowa of fhe Slote of Wiaconsln, aa owner, doee hereby oerltfy thot said Authority causad the land described to 6e s�rroyed, divided, and mopped as represented on thla map, In occordance with ths provisiona of Chopter 236 of lhe 1Yseonsin StaFut�t ond the Land Subdivislon Ordinonce o( the City o! Oshkosh. In Wilness whe�eof, tha naid Redevelopmenf Aulhority, hae caused these presente to bt signed by Jack_con R. Y.uu�ey itn Faecv�ve Di.x�ctor • ond counl�ralgned by �S �� �. iii - --�� �`�n , , ihls 20`�jl doy of �-'ptHnf�i , 20 � . Redevelopment Authorify of the City of Oshkosh: Joc s n �Kinncy Erec v�Dlrec(of �� Thomos Beller Chairman � oL STA7E OF WISCOMSIN) .:SS WINHE9AC0 COUNII') Personally camn be(o�a me thle �h day o( '�p�r ., 2009 the o(o�emeniiohed feprraenfaLives of fhe RedevelopmenE AuFhority of the City of Oshkosh, known io me to be the persone wha eKecuted the forgoing instrumenf on ack owJedged the �sam/q. • �f : �I f%�� / .. ' """ . No(ary`Pubife, "/ Aty,commisslort explru ��/���� ' Vlrine6ogo Caunfy, .Skafe o( Wiscon�iq • . � • i � . 1\ � •_ � . �.... ��.i :li :f •• "':� � lh(n Certifled Survey 1,(ap ot port of the South 1/2 of the Northcast 1/4 ond part of lhe Nor:h 1/2 of Lhe SouEhcast i/4 in Sectiort 23, Town�hlp IB liorth, }2onge 16 East, FirsE Vletd, Cify of Oahkosh, IYnnebago County, YTscanaln, le hereby approvad. � ��%.-- - 9=,2Y- a � . Clt a ng Commisalon Dote Repreaentafive - ' `5`,l�tt{!lTf////��i ��` \�SCi��S'�/�/ �: �� �-�-- g/cyoy _o � •� D G ; ;, L-•cr�4a'o, ttutsat s-za�o SK ; HANSEI�f ; x� �-Recisr�m uao su�oR S-2640 - •s�ees.zo, 2009 � APPLECON ° ..TN75 t5 Ni ORIGItU.L SUlNI' �: �' �A�',�, WI �' � ` -..SF�LU5�14lPNMEDINOREDSMI� 'rr��'V�SURV��O``` S�CHm Ik BLUE� � �r�!lI17��`�, �x h� b i t� f��� '�L S I��O S�l� T�1' _ ,_ 3.4L,UJDS _ �— ,£Z'FOY ?`I I- � e �IrNj � 39IM 'H911 'fL NOLL�35 �¢ �'� � '213F12}7J 15Y3FL11105 � m �� ^ �' � —_ —� � — � n /7 `Y�� o <z ' 6ry" o_ c- '^ b' c° .o 0 uo � �i, mv S o•ne so t eg S a• u' � o.v°iE o' c Bg „°cc°'^ c'c ° °� b' � n=o4:° �b�, `a g_o° �D� p �°a I � � `o _ - a ���u°OS �'! �5 °Oea ` � �< uo° .+ zC O�WaU�� CO W�`u S�� �V =no ^I _ €N•• a. — . , o . � �¢� .. �� u�•t _� 1VCl_y� w_'yot .p�J a"5€�� pZ� �S�i=�,- o -�;a•�,o8 � �r o C E�. . o:o �n_ 8v_.- 8� - 0 0� °.4 0�� g 5° o °.n ° 1�tt = .� 'S o ri b- � u � � � Y� W j 1� •p n o�<LCe Z�a � 'n1�0 T'^,L b. ¢6� ^o' y� �es °�^z'SE y�i� �jrv°�nln° 1�-n=e°i'n c�WZ ' � W � �' �^°o' o .=�,o'�no°� a , I! jQ o-xm�o _w'On r=�.�:;€..i-LLp=µ;.o`n o�N I 1 $-�� `oa d�t""ISa. „m•O� ofa� 5 ° c oes �tr�e`vuln���o'In.Co U p - ��i{"�`' C "Y oKYI � O1 �> e� C�� Z �o„ g a oce%��? �� a� = B' o€�° �sao �` ��a �r<<€ _ �m-9 �+�� ' � � p� a _-� E'o,c_°�:G ao^€ca$o��o`E?�nu p W�r • � ryn <�xtV3� VNLiF'Pmet-�'-cit=�OnrnZrOU� � T: o { ° ��W c� 1 �i�u o� g��� o I . / a o o ry .p >. � r= Z° ��c o iSoo° � � 'arg� _ = � =^O°2"g ^^° _ g � mzc� o//- °i°ok�:8 n i r� g8°"bic� a� o .� Y• �/O� r' _ c o o�°o � � c� � � 2` � u Z�y � o ( �' e/�" ���W3a oR K- QGryo..nY c°^§ t� �' � = O j O� i N � � D �� a` O U'o a L c,l °s = 'cpe oo v ra..o � / � / an$ � i eB $'a.°` ``Or `,ne _- - C ., n_ o P g.�t �n� � C a, i<° s� u � au =�•: . � �°^ �Eo��p c=a °� -r; -��'- ° °� ��, o�Xs c°Y��oo Y�S �"��ygeaep'��°�o �uw / �u a°u"=tE zoc ncvn�' moc;'rv`'^i �N9v / �rr- aDzm�a � •e���'c��^4o0_.°� 'ri�o� � �� � / 6 5 � ° . 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Z J ON h�• / ry • � Gi <<v . ¢ ��1,�/ oy� ��a � y�� .' °�?� / ^o / ��h��lfi V.I � � � O N J 0 � � ��O Q � � � �Owo z `` g �� U N � N * a � °u � v � Q3� n �� Np Q�N Srr �W azr WZW� 4X� .� LEGAL DESCRIPTION T'he Rivers 1.5 Lot Oshkosh, WI A parcel of land, being a part of Lot 2 of Winnebago County Certified Survey Map No. 6408, located in the NE 1/4 of the SE 1/4 of Section 23, Township 18 North, Range 16 East, First Ward, City of Oshkosh, Winnebago Couniy, Wisconsin, being more particularly described as: Beginuing at the Northwest corner of said Lot 2 of Certified Survey Map No. 6408, said point being on the southwesterly right-of-way line of Marion Road; Thence S65°-46'-22"E, along said southwesterly right-of-way line, 238.54 feet; Thence S24°-13'-36"W, 149.48 feet to the beginnuig of a curve to the right, haviug its radius point bearing northwesterly, 290.00 feet; Thence southwesterly 193.16 feet along the arc of said curve, the long chord of which bears S85°-11'-09"W, 189.61 feet to a point on the northeasterly line of Outlot 1 of Certified Survey Map No. 5879 and the end of said curve; Thence N62°-10'-26"W, along said northeasterly line of Outlot 1, 72.91 feet to the southwest corner of said Lot 2 of Certif ed Survey Map No. 6408; Thence N24°-13'-38"E, along the westerly line of said Lot 2, 236.95 feet to the Point of Begiilning and the end of this description; Containing 51,843 square feet, or 1.190 acres of land. LEGAL I�JESCRIPTION Outlot Adj acent to The Rivers 1.5 Lot Oshkosh, WI A parcel of land, being a part of Lot 2 of Winnebago County Certified 5urvey Map No. 6408, located in the NE 1/4 of the SE 1/4 of Section 23, Township 18 North, Range 16 East, First Ward, City of Oshkosh, Winnebago County, Wisconsin, being more particularly described as: Commencing at the Northwest corner of said Lot 2 of Certified Survey Map No. 6408, said point being on the southwesterly right-of-way line of Marion Road; Thence S65°-46'-22"E, along said southwesterly right-of-way 1ine, 238.54 feet to the Point of Beginning of this description; � Thence continuing S65°-46'-22"E, along said southwesterly right-of-way line, 20.00 feet; Thence S24°-13'-36"W, 253.21 feet to the northeasterly line of Outlot 1 of Certified Survey Map No. 5879; Thence N62°-10'-26"W, along said northeasterly line of Outlot l, 186.14 feet to the begiuning of a curve to the left, having its radius point bearing northerly 290.00 feet; Thence northeasterly 193.16 feet along the arc of said curve, the long chord of which bears N85°-11'-09"E, 189.61 feet; Thence N24°-13'-36"E, 149.48 feet to the Point of Beginniiig and the end of this description; Containi.ng 11,519 square feet, or 0.264 acre of land. Descriptions by: Ken Wolf, PLS-1421, AECOM June 25, 2015 Project No. 60432283 ���6�It � ��5