R-21-35VILLAGE OF DEERFIELD
RESOLUTION NO. R-21-35
A RESOLUTION APPROVING A TRANSFEREE ASSUMPTION AGREEMENT
RELATED TO THE ZION WOODS DEVELOPMENT
WHEREAS, Housing Opportunity Development Corporation, an Illinois not-for-profit
corporation ("Owner'j, is the record owner of that certain parcel of real property commonly
known as 10 Deerfield Road, Deerfield, Cook County, Illinois ("Property's; and
WHEREAS, the Owner and Brinshore Development, LLC, an Illinois limited liability
company (`Brinshore'� (Brinshore and the Owners are, collectively, "Developer') are the
sole members of Zion Woods, LLC, an Illinois limited liability company ("Transferee'); and
WHEREAS, the Property is subject to that certain Development Agreement approved
by Resolution No. R-21-28 on August 17, 2021, by and between the Village and Developer
("Development Agreement'; and
WHEREAS, Developer intends to convey the property to Transferee; and
WHEREAS, as a condition to the conveyance of the Property by Developer, the
Development Agreement requires that Transferee agrees to comply with all the terms,
requirements, and obligations set forth in the Development Agreement; and
WHEREAS, in order to satisfy the condition of the conveyance as set forth in the
Development Agreement, the Village, Developer, and Transferee desire to enter into a
Transferee Assumption Agreement; and
WHEREAS, the Village President and Board of Trustees have determined that it will
serve and be in the best interest of the Village to enter into the Transferee Assumption
Agreement with Developer and Transferee;
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE BOARD OF
DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS, as follows:
SECTION ONE: RECITALS. The foregoing recitals are incorporated into, and
made a part of, this Resolution as findings of the Village Board.
SECTION TWO: APPROVAL OF TRANSFEREE ASSUMPTION
AGREEMENT. The Transferee Assumption Agreement by and among the Village,
Developer and Transferee is hereby approved in substantially the form attached to this
Resolution as Exhibit A.
SECTION THREE: EXECUTION OF AGREEMENT. The Village Mayor and the
Village Clerk are hereby authorized and directed to execute and attest, on behalf of the
Village, the Transferee Assumption Agreement.
SECTION FOUR: EFFECTIVE DATE. This Resolution will be in full force and
effect upon its passage and approval by a majority of the members of the Village Board.
{00122853.2}
PASSED this 1 t day of ctober 2021.
AYES: Benton, Jacoby, Jester, Metts-Childers, Oppenheim, Seiden
NAYS: None
ABSENT: None
ABSTENTION: None
APPROVED by me this —19th -day of October , 2021.
Daniel C. Shapiro, Village Mayor
ATTE
Kent . Street, Villa e Clerk
100122853.21
EXHIBIT A
TRANSFEREE ASSUMPTION AGREEMENT
{00122853.2}
This document was prepared by
And after recording to be returned to:
Steven Friedland
Applegate & Thorne -Thomsen
425 S. Financial Place
Suite 1900
Chicago, IL 60605
I IIIIIII IIIIII III Illll IIIII Illll Ills! IIIII IIIII IIIII lllll IIIII IIIII Il II illl IIII
Image# 061631140008 Type: ASM
Recorded: 12/10/2021 at 12:06.22 PM
Receipt#: 2021-00103020
Pape i of 8
Fees: $60.00
IL Rental Housing Fund: $9.00
Lake County IL Recorder
Mary Ellen vanderventer Recorder
File7852895
GRCr;T' i ILI +N0IS TITLE C0h1rANY
(The above space for recorder's use only)
W,,eat,i, illinoisti0187
TRANSFEREE ASSUMPTION AGREEMENT
By and between
VILLAGE OF DEERFIELD,
an Illinois home rule municipal corporation
BRINSHORE DEVELOPMENT, LLC,
an Illinois limited liability company
HOUSING OPPORTUNITY DEVELOPMENT CORPORATION,
an Illinois not -for -profit corporation
and
Zion Woods, LLC,
an Illinois limited liability company
TRANSFEREE ASSUMPTION AGREEMENT
THIS AGREEMENT is made as of this 23rd day of November, 2021, between the
VILLAGE OF DEERFIELD, an Illinois home rule municipal corporation ("Village'l, BRINSHORE
DEVELOPMENT, LLC, an Illinois limited liability company ("Brinshore"), and HOUSING
OPPORTUNITY DEVELOPMENT CORPORATION, an Illinois not -for -profit corporation ("HODC'
and Brinshore are, collectively, the "Developer'. ("Developer'), and Zion Woods, LLC, an
Illinois limited liability company ("Transferee').
WITNESETH:
WHEREAS, HODC is the owner of certain real property situated in Lake County,
Illinois and legally described in Exhibit 1 attached to and, by this reference, made a part of this
Agreement ("Property's; and
WHEREAS, HODC and Brinshore are the sole members of Transferee and HODC
intends to convey the Property to Transferee; and
WHEREAS, following the conveyance of the Property by HODC, the Transferee
will be the legal owner of the Property; and
WHEREAS, as a condition to the conveyance of the Property by Developer, the
Village and Developer require that the Transferee agrees to comply with all the terms,
requirements, and obligations set forth in that certain Development Agreement, dated as of
November 23, 2021, and recorded in the office of the Lake County Recorder on
_VD U , 20 z-! as Document No. 79 sz 1"V , by and between the Village and
Developer ( "Development Agreement" };
NOW, THEREFORE, in consideration of the agreement of Developer to convey
the Property to the Transferee, and of the Village to accept the transfer of obligations as provided
herein and to grant the releases granted herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, it is hereby agreed by, between,
and among the Village, Developer, and the Transferee as follows:
1. Recitals. The foregoing recitals are by this reference incorporated herein
and made a part hereof as substantive provisions of this Agreement.
2. Assumption of Oblgations. The Transferee, on its behalf and on behalf
of its successors, assigns, heirs, executors, and administrators, hereby agrees, at its sole cost
and expense, to comply with all of the terms, requirements, and obligations of the Development
Agreement, including all exhibits and attachments thereto, regardless of whether such terms,
requirements, and obligations are to be performed and provided by, or are imposed upon,
Developer of the Property,
3. Pavment of Villacte Fees and Costs. In addition to any other costs,
payments, fees, charges, contributions, or dedications required by this Agreement, the
Development Agreement or by applicable Village codes, ordinances, resolutions, rules, or
regulations, the Transferee must pay to the Village, immediately upon presentation of a written
demand or demands therefor, all legal, engineering, and other consulting or administrative fees,
costs, and expenses incurred in connection with the negotiation, preparation, consideration, and
review of this Agreement.
4. A_cknowledgment and Release of Developer. The Village hereby
acknowledges its agreement to the Transferee's assumption of the obligation to comply with the
terms, requirements, and obligations of the Development Agreement, including all exhibits and
attachments thereto, and the Village hereby releases Developer from any personal liability for
failure to comply with the terms, requirements, and obligations of the Development Agreement.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the day and year first written above.
ATTEST
Village Clerk
DEVELOPER:
BRINSHORE DEVELOPMENT, LLC, an
Illinois limited liability company
By: Brint Development, Inc., an Illinois
corporation, its member
By:�
Name: David Brint
Its: President
HOUSING OPPORTUNITY DEVELOPMENT
CORPORATION, an Illinois not -for -profit
corporation
Bv:
Name: Richard Koenig
Its: Executive Director
VILLAGE OF DEERFIELD,
an Illinois home rule municipal corporation
Im
Its: Village Manager
TRANSFEREE:
ZION WOODS, LLC, an Illinois limited liability
company
By: HOUSING OPPORTUNITY
DEVELOPMENT CORPORATION, an Illinois
not -for -profit corporation, a Manager
By:
Name: Richard Koenig
Its: Executive Director
4. Acknowled ment and Release of Developer. The Village hereby
acknowledges its agreement to the Transferee's assumption of the obligation to comply with the
terms, requirements, and obligations of the Development Agreement, including all exhibits and
attachments thereto, and the Village hereby releases Developer from any personal liability for
failure to comply with the terms, requirements, and obligations of the Development Agreement.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the day and year first written above.
ATTEST:
Village Clerk
DEVELOPER:
BRINSHORE DEVELOPMENT, LLC, an
Illinois limited liability company
By: Brint Development, Inc., an Illinois
corporation, its member
By:
Name: David Brint
Its: President
HOUSING OPPORTUNITY DEVELOPMENT
CORPORATION, an Illinois not -for -profit
corporation 7
By:
Nart e: Richar�Koen�ig��
Its: Executive Director
VILLAGE OF DEERFIELD,
an Illinois home rule municipal corporation
By:
Its: Village Manager
TRANSFEREE:
ZION WOODS, LLC, an Illinois limited liability
company
By: HOUSING OPPORTUNITY
DEVELOPMENT CORPORATION, an Illinois
not -for -profit cor oration, a Manager
Z _
e: ichardKoenig
Its: Executive Director
4. Acknowled ment and Release of Developer. The Village hereby
acknowledges its agreement to the Transferee's assumption of the obligation to comply with the
terms, requirements, and obligations of the Development Agreement, including all exhibits and
attachments thereto, and the Village hereby releases Developer from any personal liability for
failure to comply with the terms, requirements, and obligations of the Development Agreement.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed as of the day and year first written above.
ATTEST:
a�
De?vbj Village Clerk
DEVELOPER:
BRINSHORE DEVELOPMENT, LLC, an
Illinois limited liability company
By: Brint Development, Inc., an Illinois
corporation, its member
Bv:
Name: David Brint
Its: President
HOUSING OPPORTUNITY DEVELOPMENT
CORPORATION, an Illinois not -for -profit
corporation
By:
Name: Richard Koenig
Its: Executive Director
VILLAGE OF DEERFIELD,
an Illinois home rule municipal corporation
By:
Its: Village Manager
TRANSFEREE:
ZION WOODS, LLC, an Illinois limited liability
company
By: HOUSING OPPORTUNITY
DEVELOPMENT CORPORATION, an Illinois
not -for -profit corporation, a Manager
Bv:
Name: Richard Koenig
Its: Executive Director
STATE OF ILLINOIS
SS
COUNTY OF LAKE
ACKNOWLEDGMENTS
ii,, This instrument was acknowledged before me on October l9 , 2QM, by
^..h+ b. S%ree+ , the Village Manager of the VILLAGE OF DEERFIELD, an Illinois home
rule municipal corporation, and by Vz11itek \[at\ b%eh , the.Village Clerk of said municipal
corporation. Deru#y
OIFIL U&
Aft I UCKFEW'"N
NOTARY PUBIX, STATE OF ILLINOIS
My COMM=M EWRES:12/10/2024
SEAL'
'It'll
Signature of ..
STATE OF . IL- }
Cock. ) SS.
COUNTY OF )
This instrument was acknowledged before me on fh a?5, 20 -II, by David Brint, the
president of Brint Development, Inc. a member of BRINSHORE DEVELOPMENT, LLC, an Illinois limited
liability company.
Given under my hand and official seal this dS-A'-day of/d2e�, 20A/.
.7'22�� Notary Pub*-
My Commission expires: _ �^
SEAL A+ICIAL SEAL
BRIDGET A WHITE
+JTARY PUBLIC -}STATE
OFr}IILLL�I�NO11�
STATE 0
) SS.
COUNTY OF (004 )
This instrument was acknowledged before me on 7.S 20 t8/, by Richard Koenig, the
executive director of HOUSING OPPORTUNITY DEVELOPMENT CORPORATION, an Illinois not -
for -profit corporation. ,, ��,,..�""``
Given under my hand and official seal U is 'day &04 a`ri�- , 20 ,�./
Notary PL1blic
My Commission expires. C 7
SEAL OFFICIAL SEAL
BRIDGET A WHITE
NOTARY PUBLIC - STATE OF ILLINOIS
MY COMMISSION E?EIRES:47L22124 .s
"!sl-"i-.'YN°!f hl1A/MOW`�JO/AA'a}1.�
STATE OF
) SS.
COUNTY OF C_M., )
This instrument was acknowledged before me on 664*4 �5, 20 _±!L/, by Richard Koenig, the
executive director of HOUSING OPPORTUNITY DEVELOPMENT CORPORATION, an Illinois not -
for -profit corporation, a manager of ZION WOODS, LLC, an Illinois limited liability company.
Given under my hand and official sea 's A5�'Lday of - �, 20 A/
Notary Pub
My Commissi �-L41 do
OFFICIAL SEAL
SEAL BRIDGETA WHITE
NOTARY PUBLIC - STATE OF ILLINOIS
MY COMMISSION EXPIRES:07/2Z24
EXHIBIT A
LEGAL DESCRIPTION OF THE PROPERTY
THAT PART OF THE EAST HALF OF THE SOUTHEAST QUARTER OF THE SOUTHEAST
QUARTER OF SECTION 28, TOWNSHIP 43 NORTH, RANGE 12 EAST OF THE THIRD
PRINCIPAL MERIDIAN, LYING NORTH OF THE NORTH LINE OF THE PUBLIC HIGHWAY
KNOWN AS HIGHLAND PARK, DEERFIELD ROAD, AS DEDICATED BY DOCUMENT 217791
AND LYING WEST OF THE WEST LINE OF THE DRAINAGE CANAL, AS CONDEMNED BY
PROCEEDINGS FOR THE COUNTY COURT CASE 5303, IN LAKE COUNTY, ILLINOIS.
ADDRESS: 10 DEERFIELD ROAD, DEERFIELD, ILLINOIS
PINs: 16-28-400-036-0000 andr1,6y26jQ(39j9QW/'
16-28-400-039-0000