HomeMy Public PortalAboutResolution 1203RESOLUTION NO. 12 n 3
A RESOLUTION AUTHORIZING THE PURCHASE OF THE PROPERTY
COMMONLY KNOWN AS LOT 3 OF PARCEL "B" WALLIN WOODS,
PLAINFIELD, ILLINOIS FROM FIRST MIDWEST TRUST COMPANY, A
NATIONAL ASSOCIATION
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF PLAINFIELD, AS FOLLOWS:
1. That the President and Clerk are hereby authorized to execute and attest, respectively,
to an Agreement far Deed by and between First Midwest Trust Company, a National
Association, as Trustee under a Trust Agreement dated the 3rd day of August, 1998,
and known as Trust Number 6333, Seller and the Village of Plainfield, Buyer for a
certain property located at Lot Number 3 of Parcel "B" Wallin Woods, Plainfield, Illinois
for a sale price in an amount not to exceed Eight Hundred Twenty-five Thousand
($825,000) Dollars.
2. That the President and Clerk are hereby authorized to execute and attest to all such
other and further documents as may be necessary to effectuate the purchase of the
property heretofore described as Lot Number 3 of Parcel "B" Wallin Woods, Plainfield,
Illinois.
3. That the Village of Plainfield hereby designates that the Agreement far Deed as an
exempt obligation for the purpose of meeting the requirements of Section 265 (b) (3),
of the Internal Revenue Code of 1986, as amended, regarding qualified tax exempt
obligations.
PASSED THIS 3 DAY OF Auaust _ _, 1998.
AYES: O'Connell, Rathbun, Smol~ch, Darnell, Dement, Stalzer, Rock.
NAYS: 0
ABSENT: 0
APPROVED THIS 3 DAY OF August , 199$.
~./ a. ~ p',~....,
VILLAGE PRESI®ENT
ATTEST:
f -- yr'_.
VILLAG LE-RK
I~AW Ot=xrc>~s
McKEOWN, FITZGERALD, ZOLLNER,
MAR E. ZOLLNER BUCS, HUTCHISUN & RUTTLE Sangmeister Building
DOUGLAS P. HUTCHISON 2455 Glenwood Avenue 28 Kansas Street
DAYTD L. RUTTLE Joliet, Illinois 60435-5493 Frankfort, Illinois 60423-1477
THEOOORT3 J JARZ 'I~lephone (815) 469-2176
DOUGLAS J. MCKEOwN lbiephone (815) 729-4800 Fax (815) 469-0295
JAIvI85 B. HARVEY Fax (815) 729-4711
aF COUNSEL
KENNETH A. GREY GEORdE E. SANGIviEISTER
MICHAEL R. Lucas ST'EWART C. HUTCHISON
CHRI5rDPHER N. WISE
GARY S. MUELLER RE'T'IRED
JOHN C. RoTH JOSEPH C. FrrZ4ERALD
ARTHUR J. WILHNLMI CHARLES J. MCK>?AWN (190$-1985)
'rI-IOMns M. CARI~rEx PAUL O. MCKEOwN (I9I3-1982)
RICFIARD T. BUCK (1936-1992)
July 29, 1998
Mr. Chris Minick
Finance Director
Village of Plainfield
23145 West Lincoln Highway
Plainfield, Illinois 60544
Facsimile 815/436-1950
Re: Acquisition of Lot Number 3 of Parcel "B" Wallin Woads, Plainfield, Illinois
Dear Chris:
Enclosed please find a copy of the following documents:
1) A Resolution authorizing the purchase of property commonly known as Lot 3 of
Parcel "B" Wallin Woods, Plainfield, Illinois froze First Midwest Trust Company, a National
Association. This is the instrument which authorizes the Village President and Clerk to execute
the Agreement for Deed to purchase the property from the Trust after the Trust has acquired the
same by Assignment.
2) A Resolution assigning all rights, title and interest in a certain contract entered
into between the Village of Plainfield and Plainfield Commercial Partners, L.L.C. This
resolution authorizes the Village President and. Clerk to execute the Assignment set forth in
paragraph 3 below. The effect of the Assignment is to assign the Real Estate Sale Contract
between the Village of Plainfield and Plainfield Commercial Partners, L.L.C. to First Midwest
Trust Company as trustee under a Trust Agreement dated the third day of August 1998.
3) A copy of an Assignment to be executed by the Village President and Village
Clerk, after due authorization as provided for in paragraph 2 above assigning the Real Estate Sale
Contract for the purchase of Parcel "B" Wallin Woods, Plainfield, Illinois from the Village to
First Midwest Company Trust No. 6333.
As I indicated to you in our meeting with Dick Etheridge at First Midwest Bank's office
in Plainfield, once the Board has adopted the Resolution assigning its rights to the Contract
provided far in 3 above, a certified copy of both Resolutions and several copies of the
Mr. Chris Minick
July 29, 1998
Page 2
Assignments should be delivered to the Bank in order to obtain the Bank's signature. Attached
to each Assigrunent should be a cagy of the Real Estate Sale Contract.
Would you also provide to our office copies of all of the above documents after their
passage, approval and execution.
If you have any questions regarding the above, please do not hesitate to contact me at my
office.
I am,
Very truly yours,
MCKEOWN, '~ZGERALD, ZOLNER,
BUCK, HUT HISON & RUTTLE
~~~ .~
D vid L. Ruttle, P r
DLR/phl
cc: Jim Harvey
Gary Mueller