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R2001-299 AUTHORIZING EXERCISE OF OPTION
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R2001-299 AUTHORIZING EXERCISE OF OPTION
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Last modified
1/21/2016 10:18:51 AM
Creation date
1/21/2016 10:18:50 AM
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Resolution/Ordinance
Res Ord Num
R2001-229
Res Ord Title
AUTHORIZING EXERCISE OF OPTION - TICK PROPERTIES
Approved Date
12/17/2001
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: � <br /> '1'he�bave parr.eRs rr�ay be purchase either indrv�duatly+, ar as�e�P- '� i�P��s I�, <br /> cot�tained witf�in e�Ch group may nat be`split ouY', wttl�out the con�ent of'Tidc � <br /> Pro�e�ties. ' <br /> CICD and Tick Properti�s wil)c�orriinue to hav� �10,ODO.nO in an irrterest bearing ' <br /> esarcrw acx�ourrt at Wstional City 8artk, Deca#u, l�inois. At�i�erest on the abpve <br /> referenoed optian monies wiil be for the acvourrt of Tdc Properpes. This op�on money ' <br /> w�i be far the account of Tidc Proper�es at the thne of dosing,or the dose of busin� �I <br /> 1?131/i00, whidl ever event ocalrs�rst. <br /> CtCD wi11 have the op�on to purchase the above referenced resl estate�or a period af �� <br /> nine mon#h� beginning Apri11, 2000, and expiring December 31� 200�?. !n the event �� <br /> that GtC�elects tio purchase any o#the above re�r+�nced pa�oels, wriitten notice must <br /> be given to 1'idc Pmperties� and a dosing must take place witt�in �Q dayS, tx'at the <br /> election of T�k Properties� may be delayed tar a maximum of 15o days, at the optlon of <br /> Tidc Properties to facilitate a °1041 Tax Free Eacchange." CICD wili cooperate in the <br /> event#ha#Tidc Proper�es eleCts a'"Sterke�Exchange° <br /> The above referenced properded are owned by Tidc Proper�es i,Tidc Proper�de.s 11, <br /> and Farles W#re Land Trust. Ste�ven H. Tfdc has a l�er�eticta[ tnter�est tn T�cic Proper�es <br /> i I, and F�ries Wire Land Ttust, Steven Tidc is the ager�t for Tidc Praperties I, Tidc <br /> Properties 11, and Faries Vlrire Lar�d Tn+st. <br /> In the everrt that ownership has the opportunity#0 lease or sell� �ny part of any paroel, <br /> T�k Prop�rkies wiq pive seven (?)days writben notl�e►to G1CD. CIC.D wi!! h�ve the <br /> opGon � purchase the "parcer oontaining the subject property, approving the saie or <br /> iease, or#o�rt��ing the optian on the parc�f t�on#aming tt�e re�erenoed �'+�P�rtY under <br /> cansideration. in the even#tt�at ClCD farFeits it's optior� rigtrts an that parcel, alt <br /> monetary lt�tterests wilt be transEerr+ed to the remalning paroeis. <br /> Tidc Properties wiA not be responsible for brakerage oammissions t�n coaper�tive <br /> brolcer�, and tt�s dorumer►t�hall nt�t lae recorded, oc er�tered ir�to anY pubfic record, <br /> withaut the approval of Tidc Propert+es. <br /> CfGI]c1'�1c�45Q2, da�ed 3�3i1p0, wilf be the#am af payrrter�t to extend �nd tr�odify <br /> the origina�l ap�Eian �greement, dated M�r�h 19. 1999. <br />
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