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R2006-40 AUTHORIZING AGREEMENT WITH GMRI, INC.
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R2006-40 AUTHORIZING AGREEMENT WITH GMRI, INC.
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Last modified
12/2/2015 11:17:14 AM
Creation date
12/2/2015 11:16:54 AM
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Resolution/Ordinance
Res Ord Num
R2006-40
Res Ord Title
AUTHORIZING AGREEMENT WITH GMRI, INC. FOR OLIVE GARDEN PROPERTY
Approved Date
3/20/2006
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,� � �� � <br /> � <br /> . fi , <br /> r <br />� <br /> 6075 <br /> 9/7/06 <br /> SUBORDINATION <br /> This Subordination is ma e as of the�day of , 2006 <br /> among the BANK OF SPRING IELD ("Lender"), BSG-STAR, L.L.C., an tllinois limited <br /> liability company ("Blackstone" , and the CITY OF DECATUR, an Illinois municipal <br /> corporation ("City"). <br /> Reference is made to: <br /> A. Lender is the mo�rtgagee in the Mortgage dated December 23r 2005, <br /> recorded in Book 3G70 at Page 533 as Document No. 1698649 in the Macon <br /> County, Illinois R rder's Office("Mortgage"), encumbering the real estate <br /> owned by Blacksto�ie in Macon Courrty described in the attached Exhibit A <br /> (the "Blackstone P�rcel"). <br /> B. City is the owner of the real estate in Macon County, II{inois described in the <br /> attached F�chibit B �the"City Parcel"). <br /> C. City and Target Co poration hav executed an Amendment to Operation and <br /> Easement Agreem�nt dated / 2006 recorded in <br /> , , � <br /> Book at P e as Document No. in such <br /> Recorder's Office the "OEA Amendment"), which amends certain of the <br /> terms and conditio s of the Operation and Easement Agreement datpd as of <br /> January 7, 2004, �corded in Book 3445 at Page 207 as Document No. <br /> 1647689 in such R rder's Office(the"OEAA),which created among other <br /> things easements i , over and across the City Parcel and Bfackstone Parcel. <br /> NOW, THEREFORE, for Ten Dollars ($10.00) and other good and valuable <br /> consideration, the receipt and s iciency of which is acknowledged, the parties agree: <br /> 1. The Mortgage is s bordinate to the OEA Amendment so that the OEA <br /> Amendment is dee ed to have been executed and recorded before the <br /> execution and reco ding of the Mortgage. If Lender becomes the owner of <br /> the Blackstone Parcel (whether through a foreclosure proceeding or <br /> � <br />
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