82-25 AUTHORIZING, APPROVING, RATIFYING AND CONFIRMING CERTAIN ADDITIONS AND CHANGES TO ECONOMIC DEVELOPMENT REVENUE BONDS (BRETTWOOD VILLAGE ASSOCIATES PROJECT)

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� • THE PARTNERSHIP General The general partners of the Partnership are Draper and Kramer, Incorpo- rated, an Illinois corporation ("Draper") and D & K Insurance Agency, Inc. , a Delaware corporation ("D & K") . The Partnership was formed on December 15, 1981 by the filing of the Agreement of Limited Partnership and Certificate of Limited Partnership of Brettwood Village Associates (the "Initial Partnership Agreement") with the Recorder of Deeds of Cook County, Illinois as Document No. 26085986. The Initial Partnership Agreement was amended and restated pursuant to a certain Amended and Restated Certificate of Limited Partnership and Agreement of Limited Partnership of Brettwood Village Associates (the "Partnership Agree- ment") dated December 22, 1981 and filed with the Recorder of Deeds of Cook County, Illinois on December 24, 1981 as document No. 26093820. The Partnership Agreement provides, among other things, that the purpose of the Partnership is the development of the Project and, if economically feasible, to exercise the option to acquire the leasehold interest in the Eastern Tract and to thereafter own, operate and develop the Eastern Tract. Under the Partnership's option agreement for the Eastern Tract, the Partnership will manage the Eastern Tract for a fee equal to the net revenues realized therefrom after payment of all expenses and �7,099,10 per month for the first 12 months beginning October 1, 1981 and �8,858.90 per month thereafter to the grantor of the option until the option is exercised or the option expires or its exercise is foregone. Draper was founded in Chicago in 1893 and is a closely held Illinois Corporation. The company is a full service, real estate firm engaged in residential management, mortgage banking, construction services, commercial leasing, industrial leasing, shopping center management and leasing, office building management and leasing, financial services, sales and development. Draper maintains its main office in Chicago at 33 West Monroe Street and maintains other offices in Minneapolis, St. Louis, Los Angeles, Atlanta, Ft. Lauderdale, and Columbus, Ohio. The firm has four wholly owned subsidiaries: Draper and Kramer of California, Inc.; Draper and Kramer, Incorporated of Wisconsin; Draper and Kramer of Florida, Inc. ; and Draper and Kramer of Georgia, Inc. Draper is licensed to do business in 18 states and employs 427 management and clerical personnel and approximately 2,000 in connection with buildings managed by Draper. D & K, an affiliate of Draper, was formed for the purpose of operating an insurance brokerage business and to acquire, own, hold, use and otherwise deal in any real or personal property. NEITHER THE CITY NOR THE UNDERWRITER HAVE INDEPENDENTLY VERIFIED THE INFORMA- TION PRESENTED HEREIN WITH RESPECT TO THE PARTNERSHIP OR ANY OF THE GENERAL PARTNERS, NOR HAVE THEY MADE AN INDEPENDENT DETERMINATION OF THE FINANCIAL CONDITION OF THE PARTNERSHIP OR ANY OF THE GENERAL PARTNERS. 9