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HomeMy WebLinkAboutOrdinances - ORD-08-1419 - 04/07/2008 - AMEND ORD 07-1359 FIRST AMENDMENT MCHENRY RIVERWALORDINANCE NO.ORD-08-1419 An Ordinance Amending Ordinance No. 07-1359 and Authorizing Execution of a First Amendment of a Redevelopment Agreement with Curtis Commercial Inc, and McHenry Riverwalk Center LLC, Execution of Pier and Boat Slip Access Easement and Assignment and Related Closing Documents WHEREAS, the City has the authority to adopt ordinances and to promulgate rules and regulations that pertain to its government and affairs and that protect the public health, safety, and welfare of its citizens. NOW, THEREFORE, BE IT ORDAINED by the CITY COUNCIL of the CITY OF McHENRY, McHenry County, Illinois, as follows: SECTION 1: The Mayor and City Clerk are authorized to execute the following documents: (1) First Amendment to Redevelopment Agreement between the City of McHenry, McHenry Riverwalk Center LLC and Curtis Commercial Inc., a true and correct copy of which is attached hereto; (2) Pier and Boat Slip Access Easement and Assignment, a true and correct copy of which is attached hereto; (3) Closing documents (City of McHenry to McHenry Riverwalk Center LLC) including Warranty Deed, ALTA Statement, Statement of Owner relating to property manager, PTAX-203 form and Plat Act Affidavit; (4) Closing documents (McHenry Riverwalk Center LLC to City of McHenry) including Warranty Deed, PTAX-203 form and Plat Act Affidavit; and (5) Strict Sole Order Escrow, Termination of Pier and Boat Slip Access Easement and License Reconveyance of Piers and Slips and PTAX-203. SECTION 15: If any section, paragraph, subdivision, clause, sentence or provision of this Ordinance shall be adjudged by any Court of competent jurisdiction to be invalid, such judgment shall not affect, impair, invalidate or nullify the remainder thereof, which remainder shall remain and continue in full force and effect. SECTION 7: All ordinances or parts of ordinances and motions in conflict herewith are hereby repealed to the extent of such conflict. SECTIONS: This Ordinance shall be in full force and effect upon its passage, approval and publication in pamphlet form (which publication is hereby authorized) as provided by law. Passed and approved this 7`h day of April 2008. Voting Aye: Santi, Glab, Schaefer, Wimmer, Peterson, Condon. Voting Nay: None. Absent: Murgatroyd. Abstain: None APPROy'ED: Mor Susan E. Low (SEAL) ATTEST: ) c.e.. C ex-, City erk Jant. Jones First Amendment to Redevelopment Agreement THIS FIRST AMENDMENT TO REDEVELOPMENT AGREEMENT ("First Amendment") is entered into this .7 -\ day of "(L t t_. 2008, between the City of McHenry;. an Illinois municipal corporation ("City"), McHenry Riverwalk Center, LLC, an Illinois limited liability company ("Developer') and Curtis Commercial, Inc ("Former Developer"). RECITALS A. On or about March 5, 2007 the City entered into a Redevelopment Agreement with the Former Developer ("Original Agreement") which, in accordance with the terms of this First Amendment, the Former Developer desires to hereby assign all of its right title and interest in and to the Original Agreement to the Developer pursuant to this First Amendment. All capitalized terms not defined herein shall have the definitions set forth in the Original Agreement. B. The parties hereto desire to amend certain terms and provisions of the Original Agreement pursuant to this First Amendment. NOW, THEREFORE, the parties, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, agree as follows: 1. Incorporation of Recitals. All of the recitals contained in this First Amendment are true and correct and are hereby incorporated into this First Amendment as though they were fully set forth in this Section 1. 2. Return of Expense Deposit. As of the date of this First Amendment, Developer shall be entitled to remove the Expense Deposit that it deposited in connection with the Original Agreement from the segregated account and shall have no further obligations with respect to the Expense Deposit. Construction. a. Section 4 of the Original Agreement shall be amended by deleting "but in any event not later than August 1, 2007." b. Section 4 of the Original Agreement shall be amended to provide that any boat piers constructed by Developer on Boone Lagoon, shall be constructed at its cost and be designed and constructed the same as those constructed as part of the Riverwalk Place Subdivision to the east of the Subject Property. Any and all boat piers so constructed by Developer on Boone Lagoon shall be and available to the general public and be constructed parallel to the Subject Property water front and be in the nature of a temporary docking (not overnight) use. The City shall provide Developer with necessary construction and access easements from the Subject Property to Boone Lagoon for the construction and use of boat piers. 4. Parking Requirements. The Developer shall perpetually reserve not less than forty-six (46) parking spaces within the seventy-four (74) parking space structure constructed on the Subject Property for use, at no charge, by the general public. The parking spaces so reserved and their location within the parking structure shall be mutually agreed upon by the Developer and the City prior to the issuance of any certificate of occupancy for the Subject Property and shall include the required number of handicapped spaces, in accordance with the current applicable Illinois Accessibility Code. 5. Covenants. Prior to issuance of any occupancy permits, Developer shall draft and file with the: McHenry County Recorder of Deeds restrictions and covenants against the Subject Property ("Covenants"). The Covenants shall be subject to review and approval by the City and shall include provisions that the City is a third party beneficiary thereof with the power to enforce the same, and that no amendment that affects the rights of the City thereunder shall be effective without the prior written consent of the City, which shall not be unreasonably withheld. The Covenants shall include the following, at a minimum: (a) any construction of Boone Lagoon piers must be consistent with that of Riverwalk Place subdivision.; (b) use of Boone Lagoon piers shall be for temporary docking only, available to the general public and shall not be used overnight; (c) the association created shall have all maintenance obligations with regard to the parking structure constructed on the Subject Property and the adjacent pier constructed on Boone Lagoon; and (d) the allocation and reservation of the public parking spaces required hereunder. The parties hereto acknowledge that all maintenance of the Subject Property, improvements constructed thereon, including the public parking garage, shall be the obligation of the Developer and the covenants shall so reflect. 6. Transfer of Property Conditions. Section 5 of the Original Agreement shall be modified by deleting "and (iii) filing with the City Clerk the Letter of Credit referenced herein (which deposit shall be made simultaneously upon conveyance of title to the Subject Property to Developer)." 7. Letter of Credit. Notwithstanding anything to the contrary in the Original Agreement, Developer shall file the letter of credit referenced therein with the City Clerk's office no later than April 30, 2008. 8. Security for Project Construction. If Developer is required to post security in connection with the construction of public improvements, such security shall be in the form of a letter of credit rather than a surety bond. The form and substance of the letter of credit shall be subject to the reasonable approval of the City attorney. 9. Conveyance of Piers/Slips. The City shall convey the four (4) piers and eight (8) slips via a Pier and Boat Slip Access Easement and Assignment in substantially the same form as attached hereto as Exhibit H. 10. Assignment. The Former Developer hereby assigns all of its right title and interest in and to the Original Agreement, as amended by this First Amendment, to the Developer and the City hereby consents to such assignment. 11. Title Company. All references in the Original Agreement to "Heritage Title Company" shall be revised to read "First American Title Insurance Company." 12. Title Insurance. Notwithstanding anything to the contrary in the Original Agreement, the Title Policy paid for by the City shall be in an amount equal to $1,348,972, which is the agreed upon value of the Subject Property. 13. Exhibit B. The floor plan for the First Floor attached as Exhibit B to the Original Agreement shall be amended to delete the reference to "2 Level Parking Garage" and read " An attached Parking Garage providing at least seventy-four (74) parking spaces, including 46 public spaces, shall be constructed here." 14. Exhibit D. Exhibit D of Original Agreement is hereby deleted and replaced with Exhibit D attached hereto. 15. Exhibit E. Section 7 of the Original Agreement shall be amended replacing the figure $424,028 referenced therein with the figure $624,028, with no other changes to Section 7, In addition, Exhibit E to the Original Agreement shall be amended replacing the reference to $42.4,028 with the following: 1624,028". In addition, Exhibit E to the Original Agreement shall be amended replacing the reference to $2,000,000 with $2,200,000. No other changes to Exhibit E to the Original Agreement are here by made. 16. Advertising Signs. During construction of the Project, Developer shall be permitted to place advertising information on one side of its construction fencing along Green Street. 17, Conflicts. In the event the terms of this First Amendment conflict with the terms of the Original Agreement, the terms of this First Amendment shall govern. Except as specifically provided herein, the Original Agreement shall remain in full force and effect. [Signature Page Follows] IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be executed by their duly authorized officers on the above date at McHenry, Illinois. City of McHenry By: 71is Mayor McHenry Riverwalk Center, LLC By: Nam • Sod Its: it-ico.o Pi Curtis Commercial, Inc. By:�— John Curtis, Its President R/VERWALK CENTER 3M2/200$ 1110 North Gran Street Mc Remy, AUnois FORFCAVED REVEMiE Condominium Sales - Base $ $ 8,441,700 170,000 Caridomintum Sales - Upgrades $ 240.000 Bost Slip Sales Loss pm.Constnpctlon Discourds t Inatives $ {2 D'�} Retail Rent Revenue � � �,� CommercialSWO TOTAL. NET FORECASTED REVENUE $ 13,207.700 LFSS CLOSING AND Si UPW EXPENSEES S 19,377 Condo ! ReW Closing Stamps $ �, 001) Condo / ReWl CWkV CoSis C -cp CondoWnium Sale Comma Wan (25% @ 2.6%) $ 60.001) gala us Commission @ 3.0% Retal Leasing Cornmisslon (13,400 aq it Q S4) 135.188 35,000 LESS TOTAL SALES COSTS $ 209,567 NET FORECASTED SALES S 12,918,143 FORECASTED EXPENSES Lard "pwn* $ 1,575.972 Hwd cost. oaage (LEVELS 1, 2 AND 3) $ 1.383.020 Hard Coal - Site Rnaawm®atS $ $ SM,351 4,328,G14 Herd Cost - Buldieg Shell $ 1,320,138 Hard Cast - &MIrig Finish $ 395.107 Ha a Cast - Conftency S 3,413,500 Soft Costs TOTAL FORECASTED EXPENSES 13,288 ,702 PROJECT PROFIT BEFORE TtF AND CITY $ 1370,SM LAND AND PERMIT WRITE DOWN $ 1,575.972 'PAY -A$ -YOU -GO` T1F BENEFITS S 624,028 NET PROJECT PROFIT IS !JM,441 Exhibit D to Redevelopment A rea'flent See Detail R1VERWALK CENTER I110 North Grcm street me Henry, minols EXPENSES RELATED TO LEGAL f TI ALLOWANCE Legal - Corso DoCU=Fft Review UQw. . Condo Contract Review Legai - Loan Closing Bank Legal - Land / LOW Cbsing DevebPers Legal - Conch CbskV Legal - Resell Clasirg Legal• TIF Legal - Tonont Leases Tl Allowance - UNIT 15 14,000 aq it) TI AliawarM - (14.700 0 S10 Per SCi 8) TOTAL LEGAL f T1 EXPENSES EXPENSES RELATED TO FINANCING Bank Fees 11"Oest Expense ir4pw mn Fees Appraisal Fee Misc Closing Costs TOTAL FINANCE EXPENSES MARKETING COSTS On Premise Sign Sates Materials Sales Trallof Siam Up Expenses 'rraior Rental Expw"a 1 UUskes (1$ Mor►ths) Sales Trailor - Personnel (18 months) Condominium Sale 00mmission Bonus Mist OMW EVOInse Inglal Advertising Ongoing Advertising C*Mwwrclal f Retail Advertising TOTAL MARKETING EXPENSES OTHE SOFT COSTS Architect Engifreers Surreys. Renderings. Wngs, Etc. Pwmb RE Taxes (18 months) Misc Legal Misc Tax Misc Consul5ng f Studies Builders Risk. GL. WC 1r►surmm General Contracting Fee (10%) Curtis Off" f Overhead ($5,000 X 24) Partner Reimbursement ($1,000 X 18) pmjw Supervisan Misc Operating ExpewN Sott Cost Contingency TOTAL OTHER SOFT COSTS TOTAL SOFT COSTS 3/121=0 1 000 1.000 $ 10,000 20 000 13,500 S 2 000 $ ZDA00 2,500 S 200 000 147 000 is 435,000i 80,000 600 000 2 500 T=0 5,000 5.000. S 15,000 $ 20,000 $ 18,000 s 85 00o 000 6,000 V35 $0 000 $138'sw 5 000 S �' 73 8,500 178 000 402'0.000 ps 10 30 000 20,000 20 OOD 1S OOf} $ 100►000 810,000 5 1Z0►� $ 54 D00 $ 225,000 130.00a $ M 000 t $ 1.908,000� S 3.4151500 Pier and Boat Slip Access Easement and Assignment Prepared By/Mail To: David W. McArdle ZUKOWSKI, ROGERS, FLOOD & McARDLE 50 Virginia Street Crystal Lake, IL 60014 This space is for RECORDER'S USE ONLY WHEREAS, the City of McHenry, an Illinois Municipal Corporation, ("Grantor") is the owner of certain real property described on Exhibit 1, attached hereto and made a part hereof ("Real Estate"); and WHEREAS, there is located adjacent to the Real Estate in the Riviera Marina ("Marina"), a number of piers and boat slips including 4 piers labeled A- D, containing 8 boat slips numbered 1- 8 depicted on Exhibit 2, attached hereto and made a part hereof ("Conveyed Piers and Slips"); and WHEREAS, McHenry Riverwalk Center, LLC ("Grantee") is the developer and owner of a certain proposed condominium project in the City of McHenry ("Project"); and WHEREAS, the Parties wish to provide for a perpetual easement of access to the Conveyed Piers and Slips by Grantee, its successors and assigns and assignment of the Conveyed Piers and Slips to Grantee, NOW THEREFORE, in consideration of the promises and covenants made in this document and related closing documents, the Parties hereto agree as follows: EASEMENT AND LICENSE CONVEYANCE 1. The Grantor does hereby grant and convey to Grantee, its successors and assigns, an exclusive perpetual easement of access to the Conveyed Piers and Slips along and across that part of the Real Estate legally described and shown as "10' Pedestrian Access Easement" on Exhibit 2 ("Exclusive Easement"). 2. The Grantor does hereby further grant and convey to Grantee, its successors and assigns, a nonexclusive revocable license for vehicular access, loading, automobile parking, and related uses over that part of the Real Estate depicted as "Vehicle License" on Exhibit 2 ("Vehicle License"). The Vehicle License is revocable and terminable by the Grantor, in its discretion, at any time, upon 30 days notice to Grantee and all persons or entities owning and holding rights in the Conveyed Piers and Slips; provided, however, that Grantor shall not be allowed to revoke or terminate the Vehicle License while any party other than Grantor, its successors or assigns has a right to use parking spaces on the Real Estate. Exhibit H to Redevelopment Agreement 3. The term of the Exclusive Easement shall commence on the date of this instrument and shall run in perpetuity unless sooner terminated by: (a) written agreement executed by all persons and entities owning and holding rights in the Conveyed Piers and Slips and the Grantor, or (b) a written termination agreement recorded by Grantor or First American Title Company, as designated escrowee, upon Grantee's material breach of its obligations under that certain Redevelopment Agreement dated March 5, 2007 between Grantor and Grantee. The term of the Vehicle License shall commence on the date of this instrument and shall run in perpetuity unless sooner terminated by: (a) a written notice executed by Grantor, or (b) a written termination agreement recorded by Grantor or First American Title Company, a designated escrowee, upon Grantee's material breach of its obligations under that certain Redevelopment Agreement dated March 5, 2007 between Grantor and Grantee. 4. During the term of the Exclusive Easement and the Vehicle License, Grantor shall maintain the Exclusive Easement area and the Vehicle License area in good condition at its own cost and expense. 5. The Exclusive Easement, Vehicle License, the restrictions hereby imposed and the covenants herein contained shall be easements, licenses, restrictions and covenants running with the title to the Real Estate and shall be binding upon, and inure to the benefit of, the parties hereto and their respective heirs, assigns and successors -in - interest and/or title. The Real Estate shall hereafter be owned, held, transferred, sold, conveyed, demised, devised, leased, mortgaged, occupied, used and enjoyed subject to the benefits and burdens, as the case may be, of the provisions of this instrument until such time as this instrument is released, terminated or cancelled, in whole or in part, as provided for herein. 6. Grantor warrants and covenants that Grantor has fee simple title to the Real Estate. 7. Neither Grantee, nor its successors and assigns, shall transfer, sell or assign said Exclusive Easement or said Vehicle License without the written consent of the Grantor except that, without the prior written consent of Grantor: (a) Grantee may assign an interest in said Exclusive Easement and an interest in said Vehicle License to (i) owners of units in the Project and to owners of Slips (as hereinafter defined), or to (ii) an association or agent for the benefit of unit owners in the Project or owners of Slips, and (b) owners of Slips may convey their interest in the Exclusive Easement and their interest in the Vehicle License to any person or entity to which they convey their Slip. 8. Grantee, its successors and assigns agree to abide by all rules and regulations imposed by Grantor or other regulatory agencies regarding the use of the Conveyed Piers and Slips, which rules and regulations may be instituted and amended from time to time pertaining to the use of all Conveyed Piers and Slips on the Real Estate. In addition to such rules and regulations instituted from time to time by Grantor or other regulatory agencies regarding the use of the Conveyed Piers and Slips, prior to the sale of any Conveyed Piers and Slips, Developer shall develop rules and regulations ("Slip Regulations") to be incorporated by reference in any document evidencing the sale and assignment of a Slip. The Slip Regulations shall be subject to review and approval by the City and shall include a provision that the City is a third party beneficiary thereof with the power to enforce the same. Such Slip Regulations shall include, at a minimum: a. Proof of insurance for each boat owner is required. b. Boat slips must be owner occupied — no rentals.. c. Slip owners must pay flat fee for electric and water costs/year in accordance with the fees imposed by the operator of the Marina. d. No TV antennas are allowed; dishes are permitted. e. Dock boxes are not allowed — only use of previously designated area will be allowed. f. The marina operator shall have the ability to shut-off boat air conditioners left running. g. No boatlifts are allowed. h. No parking on the grass is allowed. i. The piers must be kept in good and well kept condition. j. Only one vehicle per Slip shall be permitted at any one time in the Vehicle License area. k. The license plate number of each vehicle parked in the Vehicle License area must be provided to the current operator of the Marina. 1. No overnight parking of vehicles shall be allowed. in. A Slip owner shall not be permitted to park a vehicle in the Vehicle License area during those periods that the owner's boat has been removed from the water. 9. In the event all of the Conveyed Piers and Slips are relocated off -site of the Marina in which they are currently located, the Exclusive Easement and the Vehicle License shall be deemed abandoned and terminated without any further action by the Grantor or Grantee. 10. In the event that the Grantor's conveyance of Slips is ineffective or void for any reason, Grantor shall take all necessary action to convey the same number of Slip rights to Grantee from its previously acquired Stanton Bay Reserve. In the event that Grantor chooses to remove the Conveyed Piers from the Riviera Marina for any reason, then the Grantor shall either (x) at its sole expense, and with full cooperation of the Slip owners, relocate the same number of Slips to another location within the same trading zone as the Rivera Marina or (y) repurchase each Slip right from the current Slip owner for a purchase price of $30,000 each provided, however, in this situation, a Slip owner shall not be forced to resell its Slip right to Grantor. In connection with a relocation of replacement piers, the Grantor shall grant to the Slip owners any easements, to which it has rights, necessary to access the replacement piers. In addition, to the extent that Grantor has right or title to adjacent or nearby parking area, the Grantor shall grant each Slip owner the right, by easement or license, to use the same. The Grantor shall bear all costs in connection with the relocation of the Slip owners to the replacement piers. PIERS AND BOAT SLIP ASSIGNMENT 1. Grantor hereby sells and assigns to Grantee all of its right, title and interest in and to the 4 piers labeled A-D ("Piers") on Exhibit 2 along with the contiguous 8 slips numbered 1-8 on Exhibit 2 ("Slips") (including all rights to transfer such right, title and interest in the Slips elsewhere in the trading zone). Based upon the Department of the Army's letter to the City Attorney dated January 3, 2008 reference Project No. LRC-2007-557, Grantor hereby warrants title to the Conveyed Piers and Slips to Grantee to be free and clear of all liens and encumbrances 2. Grantor warrants and covenants that Grantor has title to the Conveyed Piers and Slips. 3. Grantee, its successors and assigns shall have the right to transfer the Conveyed Piers and Slips without the prior written consent of Grantor, provided, however, Grantor hereby reserves and Grantee hereby grants to Grantor, a first right of refusal ("Right of First Refusal") with respect to any sale of a Pier and/or Slip to a third parry (other than sales to owners of units in the Project or sales of Piers and Slips in connection with the sales of units in the Project) by any successor owner to Grantee (each a "Seller"). This Right of First Refusal shall not apply to sales by Grantee -which sales are governed by section 4 below. In the event that a Seller shall receive a bona fide offer to purchase a Slip, such Seller shall deliver to Grantor a copy of the offer. Grantor shall have until the seventh (7fl') business day after the date of Grantor's receipt of the offer within which to exercise the Right of First Refusal by providing to Seller a written contract signed by Grantor on the same material terms and conditions as contained in said offer. If Grantor shall decline to exercise the Right of First Refusal by not submitting such written contract to purchase the Slip or does not respond within such seven (7) business day period, Seller may sell the Slip to such bona fide offeror without further notice or obligation to Grantor. 4. Grantor hereby reserves, and Grantee hereby grants to Grantor, a right of first offer ("Right of First Offer") with respect to any sale of a Pier and Slip by Grantee to a third party that is not also a purchaser or owner of a unit in the Project. Prior to beginning sales of piers and slips to non -owners or non -purchasers of units at the Project, Grantee shall provide Grantor with notice of Grantee's intent to begin sales of piers and slips separately from the sale of units in the Project. Grantor shall have until the fourteenth (10) business day after the date of Grantor's receipt of the notice within which to exercise the right of First Offer and then Grantor and Grantee shall enter into a contract with Grantee to purchase any of the piers and slips on the same terms and conditions as the piers and slips will be offered to the public, except for the purchase price, which shall be equal to $30,000. If Grantor shall decline to exercise the Right of First Offer and not enter into a written contract to purchase any of the piers and slips or does not respond within such fourteen (14) business day period, Grantee may sell the piers and slips to third parties that are not purchasers or owners of units in the Project without further notice or obligation to Grantor. 5. Grantee shall be prohibited from leasing Piers and Slips to anyone other than owners of units in the Project. This prohibition on leasing shall not apply to Slip owners other than the Grantee and such Slip owners shall be permitted to lease their Slips without the consent of Grantor." [Signature Page Follows] Wherefore the Parties have executed this Agreement, this __day of , 2008. Grantor: City of McHenry BT.1 san E. Low, Mayor ZAm1McHenryCityoACurtis\Pier and Boat Slip Assignment.2.130C Grantee: McHenry Riverwalk Center, LLC. 0 State of Illinois ) ) ss. County of McHenry ) 1, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY THAT Susan E. Law, the Mayor of City of McHenry, an Illinois Municipal Corporation, and attested to by _ personally known to me to be the same person whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that as such Mayor and they signed, sealed and delivered the said instrument as their own free and voluntary act and as the free and voluntary act of the corporation, for the uses and purposes therein set forth. Given under my hand and notarial seal, this day of. , 2008. My commission expires: Notary Public State of Illinois ) ss. County of Cook ) I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY THAT _ , the of McHenry Riverwalk Center, LLC, an Illinois limited liability company, personally known to me to be the same person whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that as such , s/he signed, sealed and delivered the said instrument as his/her own free and voluntary act and as the free and voluntary act of the limited liability company., for the uses and purposes therein set forth. Given under my hand and notarial seal, this day of , 2008. My commission expires: Notary Public TICOR TITLE INSURANCE COMPANY OWNER'S POLICY (1992) POLICY NO.: 2000 000656777 SM SCHEDULE A (CONTINUED) 5. THE LAND REFERRED TO IN THIS POLICY IS DESCRIBED AS FOLLOWS: THAT PART OF THE NORTHEAST FRACTIONAL 1/4 (ON THE WEST SIDE OF THE FOX RIVER) OF SECTION 35, TOWNSHIP 45 NORTH, RANGE 8, EAST OF THE THIRD RINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF THE WEST 1/2 OF THE NORTHEAST 1/4 OF SAID SECTION 35; THENCE SOUTHERLY ALONG THE WEST LINE OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SAID SECTION, A DISTANCE OF 143.88 FEET TO THE SOUTHERLY LINE OF A PRIVATE LANE AS SHOWN ON THE PLAT OF VENICE PARK, UNIT NO. 1, FOR THE PLACE OF BEGINNING; 'THENCE CONTINUING SOUTHERLY ALONG THE WEST LINE OF THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SAID SECTION, A DISTANCE OF 445.5 FEET TO THE SOUTHEAST CORNER OF LANDS CONVEYED TO CHAUNCEY BECKWITH BY DEED RECORDED IN BOOK 34 OF DEEDS, PAGE 337; THENCE EASTERLY ALONG A LINE THAT FORMS AN ANGLE OF 87 DEGREES 44 MINUTES TO THE LEFT WITH THE PROLONGATION OF tHE LAST DESCRIBED COURSE, A DISTANCE OF 865.2 FEET TO THE WESTERLY SHORE LINE OF THE FOX RIVER; THENCE NORTHWESTERLY ALONG SAID WESTERLY SHORE LINE, A DISTANCE OF 298 FEET, MORE OR LESS, TO THE SOUTHERLY LINE OF A TRACT OF LAND CONVEYED TO CHARLES COLES BY DEED RECORDED IN BOOK 392 OF DEEDS, PAGE 505;T HENCE NORTHWESTERLY ALONG THE SOUTHERLY LINE OF SAID CHARLES COLES TRACT, A DISTANCE OF 464.0 FEET TO THE SOUTHWEST CORNER OF SAID COLES TRACT; THENCE NORTHERLY ALONG THE WESTERLY LILNE OF SAID COLES TRACT AND ALONG THE WESTERLY LINE OF A TRACT OF LAND ACQUIRED BY THE CITY OF MC HENRY THROUGH PROCEEDING HAD IN THE COUNTY COURT OF MC HENRY COUNTY, ILLINOIS AS CASE NO. 2593„ A DISTANCE OF 118.21 FEET TO THE SOUTHERLY LINE OF A PRIVATE LANE AS SHOWN ON THE PLAT OF VENICE PARK, UNIT NO. 1; THENCE NORTHWESTERLY ALONG SAID SOUTHERLY LINE, A DISTANCE OF 230.3 FEET TO THE PLACE OF BEGINNING; (EXCEPTING THAT PART OF THE NORTHEAST FRACTIONAL 1/4 OF SECTION 35, TOWNSHIP 45 NORTH, RANGE 13 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: BEGINNING AT THE SOUTHEAST CORNER OF THE PRIVATE LANE IN THE VENICE PARK ADDITION TO MC HENRY, UNIT NO. 1; THENCE SOUTH 0 DEGREES 37 MINUTES EAST, 118.21 FEET; THENCE NORTH 86 DEGREES 45 MINUTES WEST, 33.03 FEET TO THE PLACE OF BEGINNING; THENCE NORTH 0 DEGREES 37 MINUTES WEST, 130.53 FEET TO THE SOUTHWESTERLY LINE OF SAID PRIVATE LANE; THENCE NORTH 66 DEGREES 49 MINUTES WEST, 21.86 FEET; THENCE SOUTH 0 DEGREES 37 MINUTES EAST, 137.99 FEET; THENCE SOUTH 86 DEGREES 45 MINUTES EAST, 20.05 FEET TO THE PLACE OF BEGINNING), IN MC HENRY COUNTY, ILLINOIS. AND ALSO (EXCEPTING THEREFROM THAT PART OF SAID SECTION 35 BOUNDED AND DESCRIBED AS FOLLOWS, TO -WIT: BEGINNING AT THE SOUTHWEST CORNER OF A PIECE OF LAND DEEDED BY SOPHRONIA BECKWITH TO GEORGE H. BECKWITH, SAID DEED BEING RECORDED IN THE RECORDERS OFFICE OF MCHENRY COUNTY, ILLINOIS, IN BOOK 84 OF DEEDS, ON PAGE 312, SAID POINT BEING KNOWN AS THE SOUTHWEST CORNER OF LOT 5 OF THE COUNTY CLERK'S PLAT OF THE NORTH 1/2 OF SECTION 35, TOWNSHIP 45 NORTH, RANGE 8 EAST OF THE THIRD PRINCIPAL MERIDIAN; THENCE EAST ALONG THE SOUTH LINE OF SAID PIECE OF LAND SO DEEDED 500 FEET TO THE SOUTHEAST CORNER THEREOF FOR A PLACE OF BEGINNING; THENCE SOUTH 87 DEGREES 44 MINUTES EAST, 865 FEET, MORE OR LESS, TO THE FOX RIVER; THENCE NORTHEASTERLY ALONG THE WATER'S EDGE OF THE FOX RIVER 15 FEET; THENCE WEST CONTINUED ON NEXT PAGE ambit 1 to Pier and Boat Slip Access Easement and THIS POLICY VALID ONLY IF SCHEDULE B IS ATTAIWggMIent OPLUS92 PM 06/22/00 14:19:06 TICOR TIME INSURANCE COMPANY OWNER'S POLICY (1992) POLICY NO.: 2000 000656777 SM SCHEDULE A (CONTINUED) PARALLEL WITH THE LAST ABOVE DESCRIBED COURSE 855 FEET TO THE EAST LINE OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF SECTION 35 AFORESAID; THENCE SOUTH 15 FEET TO THE PLACE OF BEGINNING, (EXCEPTING AND RESERVING THEREFROM THE WESTERLY 40 FEET THEREOF), ALL IN MCHENRY COUNTY, ILLINOIS. THIS POLICY VALID ONLY IF SCHEDULE B IS ATTACHED. OPOL M PM 06/22/00 14:19:06 5: 4Ugm £Tssv drT'S 4voS pup -TaTd a pp o4 Z 4TgrgxH c m o rt wlumu unutt umu�r7 — — — — — — o 1, "i' NE 1/4 ■ :SE ,t tµ yq usa0" LAGOON IV PEDESTRIAN =CESSnl!EAI D 3 PO �. \ \: 0 i k': g ea ,e� � e::=— I- ..^.' z8�r�8•SS'�'S�¢�3pjr'�r$� is F-2 Val I Epp � \31/ .. '•`.�t�'' yy� LI �s �� W���% S yar SL ���• p i� �