The URL can be used to link to this page

Home My WebLink AboutMarion Road Apartments/Document 1659650TERMINATION OF Assignment of lease Document Number I Document Title This TERMINATION OF ASSIGNMENT OF LEASE (the "Termination Agreement"), effective as of the 24t� day of March, 2016, by and between Marion Road Apartments, LLC, a Wisconsin limited liability company, whose principal office is located at 230 Ohio Street, Suite 200, Oshkosh, Wisconsin 54902 ("Borrower"), Wisconsin Housing and Economic Development Authority, whose principal office is located at 201 West Washington Avenue, Suite 700, in Madison, Wisconsin 53703 ("Lender"), and the City of Oshkosh, a Wisconsin Municipal Corporation, and the City of Oshkosh Redevelopment Authority, (collectively, "City") by virtue of being the Landlord of the Property (collectively, "Parties"}(individually, "Party"). The Parties entered into an Assignment of Lease and Development Agreement effective March 14, 2014, with a Memorandum of Assignment of Lease and Development Agreement recorded with the Winnebago County Register of Deeds on March 14, 2014 as Document Number 1659650 ("Assignment Agreement"). The Assignment Agreement encumbers the property commonly known as 431 Marion Road, Oshkosh, W154902 and legally described on Exhibit A attached hereto ("Property"). IIIIIIIIIIIIiIG!IIIIIIIIIIIII 1709896 REGISTER'S OFFICE WINNEBAGO COUNTY, WI RECORDED ON 03/ :1/201G 11:33 AM CHRISTOPHER LARSON DEPUTY REGISTER OF DEEDS RECORDING FEE 30.00 PAGES: 9 Recording Area ame and Return Address City Attorney's Office 215 Church Ave. P.O. Box 1130 Oshkosh. WI 54903-1130 901-0222-0201 Property ldentiiication Number As of the date hereof, City is conveying fee simple interest in the Property to Borrower and as a result, the Parties desire to terminate the Assignment Agreement. THEREFORE, in consideration of the mutual promises contained herein, the parties agree as follows: 1. The Assignment Agreement is terminated as of the date hereof. 2. The Assignment Agreement was entered into prior to the recording of CSM No. 7068 and therefore contains a metes and bounds description of the Leased Premises. The parties intend to fully terminate the Assignment Agreement, regardless of any discrepancies that may result from the use of a different format to describe the Leased Premises. 3. Notwithstanding any actual or implied provision of this Termination Agreement, it is not the intent of the Parties to alter, affect, change, or modify any other agreements, understandings, or contracts between tender, Borrower, and/or other entities. 23, 2016 A L� 4. Lender acknowledges that it has not exercised its contingent rights as outlined in the Assignment Agreement and, therefore, any obligations to quit, surrender, or return the property to the City do not apply. 5. This Termination Agreement shall be for the benefit of, and shall be binding upon, the Parties and their respective heirs, executors, administrators, and assigns. 6. There shall be no termination payment or compensation owed by any Party to this Termination Agreement. 7. This Termination Agreement may be executed in multiple counterparts. [SIGNATURE PAGES FOLLOW] 2 March 23, 2016 BORROWER SIGNATURE PAGE TO TERMINATION OF ASSIGNMENT OF LEASE IN WITNESS WHEREOF, the parties hereto have executed this Termination Agreement as of the date first above written. :•CC• 1 Marion Road Apartments, LLC, a Wisconsin limited liability company By: Northpointe Holdings, LLC, a Wisconsin limited liability company Managing Member By: Andrew J. Dumke Managing Member STATE OF WISCONSIN ) ) ss WINNEBAGO COUNTY ) Personally came before me this 31sr day of March, 2016, the above -named Andrew J. Dumke, as an authorized Managing Member of Northpointe Holdings, LLC, Managing Member of Marion Road Apartments, LLC, to me known to be the person who executed the foregoing instrument and acknowledged the same. No ary Public, State of Wisconsin My Commission expires: ,t f,^e.__4 . •` �IiRSC cjs�9 09 9 OTARY�•0 P w • ` � P '•,TF gF'W�S .• 3 LENDER SIGNATURE PAGE TO TERMINATION OF ASSIGNMENT OF LEASE: LENDER: Wisconsin Housing and Economic Development Authority By: J40e-An 2'. Sean O'Brien, Director, Commercial Lending STATE OF WISCONSIN ) ) ss DANE COUNTY ) Personally came before me this 30th day of March, 2016, the above -named Sean O'Brien, as Director, Commercial Lending, of the Wisconsin Housing and Economic Development Authority, to me known to be the person who executed the foregoing inst lament and acknowledged the same. Ka hleen A. Kober ,�:. `' Notary Public, State of Wisconsin xo'VAMy Commission expires: May 8, 2016 N PUB,_jG 0 CITY SIGNATURE PAGE TO TERMINATION OF ASSIGNMENT OF LEASE: CITY OF OSHKOSH By: Mark . Rohloff, City Manager By: i Pamela R: Ubrig, City'Clerk STATE OF WISCONSIN ) ) ss WINNEBAGO COUNTY ) CITtOF OSHKOSH R EL,OPMENT AUITY By: Steve J. Cummings, Chai an By: H. Allen Davis, III, Executive Direct6r 's i 01 Personally came before me this c2q - day of f , 2016, the above -named Mary A. -4 Rohloff and Pamela R. Ubrig, to me known to be the persons who executed the foregoing instrument and acknowledged the same. Notary Public, State of Wiscons.n My Commission expires: `7 to Wl 8' STATE OF WISCONSIN ) ) ss WINNEBAGO COUNTY ) Personally came before me this a44_ day of , 2016, the above -named Steven J. Cummings and H. Allen Davis, III, to me known to be the liersoris who executed the foregoing instrument and acknowledged the same. Notary Public, State of Wisco sin My Commission expires: 7 to This document drafted by: David J. Praska Assistant City Attorney Oshkosh, Wisconsin 54903 5 March 23, 2016 EXHIBIT A LEGAL DESCRIPTION Lot Two (2) of CERTIFIED SURVEY MAP NO.7068 recorded with the Winnebago County Register of Deeds in Volume 1 of Certified Survey Maps on Page 7068 as Document No. 1709684; being part of Lot 2 of CSM 6408, which was recorded with the Winnebago County Register of Deeds on October 5, 2009 as Document Number 1520619 in the South 1/2 of the North East 1/4 and the North 1/2 of the South East 1/4 of Section _23,_Township _18 North, Range 16 East, First Ward, City of Oshkosh, Winnebago County, Wisconsin. March 23, 2016 9 Exhibit A lo-f-3 CERTIFIED SURVEY MAID 7cr8 BEING A PAfiT�OF THE I UTH 1/2 OF dF THE HCRM2 OF E),ST 1/4 AHD PART OF M NORTH 1/2 4F NUVOM MO. �COM THE SOLFIH ASF t/4 O ' SEOT1V 23, TOWVSHIP fB NOM, RRIOEE 19 EAST OF THE FOU, P.W., IR5T M0, CITY OF OSHKOSIi, WNWRAGO COLIWY, WISCONSW 103SKsplar[]dY Greennsy, WI$4351 MA BE1t078 ww.V,aacwngan ern'ki"C mi e�x KW1 SURVEYORS. CERTIFICATE f, Josoa R. Houle, Prores*rrol L4j64 Surveyor, hereby certify, Thot fn W convVawa: with the prov;saps of Chapter 236, SocUon 236.34 of the 1Wscomfn Stotut.' the Lord SubdIV4'Ion Ordinances of Winnebago County. and the City of Oshkosh, and under the direction of the Redevelepment Authority of the City of Oshkosh, owner of sold land, I have surveyed, dMdod and mapped fho following fond bang Lot 2 of Gortiilod Survey Pop Number 61W. 13ofng a part of the South 1/2 of the Northeast 1/4- and part of the North 1/2 of the Southeast 1/4 of Soctlon 23, Township 18 North, Range 16 East of the 41h P.M., First Word, City of Oshkosh, Wlnnebogo County, msconsfn, more rUlly described as fogowsr LA 2 of Certified Survay Flop Number 6408 as recorded in the oEffca of the W'Lqnsbago County Register of deeds or, docUment j1520619. Said parcel contains 277,734 square feet or 6.376 acres of land. SuA parcel Is suble;t fa eosoments, agreements, covemnl5, or restrMlons recorded and vam" ded. Thot the survey of sold land wos done under my direct auger% sfon and the map hereon rs d true and occurgto representotion of the cxiedor boendorks and the 4*rAslon (hereat. ',`�h�>,ati�4tutrlry �� SC a� f�dASOt� w HOULE It 1709684 REGISTER'S OFFICE WINNEBAGO COUNTY, WI RECORDED ON 03/29/2016 .2:01. PM vot i Pa 7668 CHRISTOPHERLARSON DEPUTY REGISTER OF DEEDS RECORDING FEE 30.00 PAGES; 4 Exh .t193N m J10KE S-2334 SHEET 2 OF 3 rRDFEr,P +t LMO SWOEYOR PRCVECT No. 60432 83 CAoD FfLE CSIA QRAWN BY RAI) A WN 3 07 16 1bit CERTIFIED SURVEY MAP ''fig _�� A RE�ONOON OF LOT 2 OF COMEQ SURVEY MAP NUMBER 8408. ef]NG A PART OF THE SUTH 1/2 OF THE NORTHEAST 1/4 AND PART OF 'THE NORTH 1/2 OF THE SOMMAiT 1/4 OF SECTION 24, TOWNSHN f8 NORTH, RhNGE 16 EiIST OF THE FOURTH P.M., FIRST WARD, CITY OF OSHKO5tf, 141HNEWO COUNTY, Wi5CON51N ioss[cep!erOiw Graon S ey, svi 5€31 f e2GASSAM WAN,oQceoyCarn MUNICIPAL OWNER'S CERTIFICATE The Redevelopment AuUwrfj/ of the City of Oshkosh, q siporala body puhl!e orgonlicd and exleting under and by virtue of the Laws of the State of Wisconsin, as owner. does hereby cod;fy ihat sold Authorty caused the land described to be surveyed, d,•nded, and mapped as represented oa We mop, in accordance with the provisions of Chapter 230 of the '4't ns"aa Statutes and the Land Subdivision Ordnance of the C,ty of Oshkosh, In Witness thereof, the said Redevelopment Authority, has caused Meso presents to be signed by ^ f€.Allen Davis III its Executive Director ,and coonl=fgned by _ Oshkosh Steven J. Cummings Its Chairman. Wisconsin — Uris 28_-- day of March _, 2�f6 rvelopment Authority of the City of Oshkosh Executive Director H/AllpVDavis III chairman ' Steven J. Cummings STATE OF WISCONSIN) nt :SS %VNEBAG4 COUNTY} Personally came before roe this 28 day of_.., 114rch , 2016 the ororementlonad representotryes of the Rtdev0?pmsnt Authority of the City of Oshkosh, known to me to be the persons who exoauted the forgoing Instrument and ocknoxledgedd the same. l ff p. Notary Public, Ry commfsslan expires— W,nnebogo County, Stole of Wscensta CTtY OF OSHKOSH QLAfki�ING COMLIIS5lOH =Tfn E OF ArPROY&L Thts CertifFed rvcy Map of port of the South 1/2 of the Northeost 1/4 and art of the North 1/2 of the Southeast 1/4 in Section Town* p 13 North. Range 16 East, First Word, City of Olhka!) Winhebogo county, Wiscomin, is hereby approved. / City P antng Co raisslon / t RopfcsontatHo �a&13��1111d1dq,/j� J API&G�JIVA ", 1 Exhibit A0450 =of_ W1 ,AMN 1L I4!?ULE 5-2W1111h p$aFESpWg LAND SURVEYOR