CCR1984210RESOLUTION #210-84
APPROVAL OF RELEASE OF PORTION OF REAL ESTATE FROM
LIEN OF MORTGAGE AND INDENTURE
(Surinak Industrial Revenue Bonds)
WHEREAS, the City of Muskego, Wisconsin (the ICity), is a
municipal corporation organized and existing under and pursuant
to the laws of the State of Wisconsin.
WHEREAS, the Common Council of the City of Muskego by Resolution
#126-78 adopted on June 27, 1978 authorized the issuance of the
City of Muskego Industrial Development Revenue Bonds (Surinak
Engineering & Manufacturing, Inc. Project) Series 1978 in the
principal amount of $450,000 (the "Bonds") and further authorized
the City to enter into a Mortgage, Loan and Security Agreement
with Surinak Development (the "Mortgage") and an Indenture of
Trust with Marine National Exchange Bank of Milwaukee, as Trustee
(the "Indenture") ; and
WHEREAS, on July 7, 1978 the Mortgage and Indenture were executed
and the Bonds were issued pursuant thereto; and
WHEREAS, Surinak Development is desirous of obtaining the release
the Indenture.
of a portion of the real estate from the lien of the Mortgage and
NOW THEREFORE, BE IT RESOLVED, by this Common Council of the City
of Muskego, Wisconsin, that:
1. The Supplemental Indenture of Trust attached hereto
as Exhibit A is approved.
authorized and directed to do or cause to be done such acts and
to execute such documents as are necessary or proper to carry out
and fulls effectuate said Supulemental Indenture of Trust.
2. The proper officials of the City be and hereby are
FINANCE COMMITTEE
Ald. Edwin Psd~
Aid. Ralph Tomczyk I
ATTEST :
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SUPPLEMENTAL INDENTURE OF TRUST
into this - day of , 1984 by and between the
City of Muskego, Waukesha County, Wisconsin, a municipal
coruoration duly established under the laws of the State of
THIS SUPPLEMENTAL INDENTURE OF TRUST made and entered
- - Wisconsin (the "Issuer"), and The Marine Trust Company,
N.A., as Trustee (as successor to Marine National Exchange
Bank of Milwaukee, as Trustee), a national association
organized and existing under the laws of the United States
of America with its principal office located at 111 East
Wisconsin Avenue, Milwaukee, Wisconsin 53202 (the "Trustee").
WITNESSETH:
WHEREAS, Surinak Development and the City of Muskego
entered into that certain Mortgage, Loan and Security Agreement
dated as of July 1, 1978 (the "Mortgage") which was recorded
in the Waukesha County Register of Deeds Office on July 6,
1978 as Document No. 1055298, and Surinak Development entered
into that certain Assignment of Lease and Rents dated as of
June 1, 1978 with the Trustee (the "Assignment") which Was
recorded in the Waukesha County Register of Deeds Office on
July 6, 1978 as Document No. 1055300;
of Milwaukee, as Trustee, entered into that certain Indenture
WHEREAS, the Issuer and Marine National Exchange Bank
of Trust dated as of June 1, 1978 relating to the issuance
by the Issuer of its Series 1978 Bonds in the principal
amount of $450,000 for the benefit of Surinak Development
(the "Indenture") pursuant to which the Mortgage was assigned
County Register of Deeds Office on July 6, 1978 as Document
to the Trustee, which Indenture was recorded in the Waukesha
No. 1055299; and
WHEREAS, the parties are desirous of amending the
Indenture to release the lien created in favor of the Issuer
against a portion of the real estate.
premises and other good and valuable consideration, the
NOW, THEREFORE, in consideration of the foregoing
receipt and sufficiency of which is hereby acknowledged, the
parties hereto agree as follows:
from the Mortgage, the Indenture and the Assignment and any
and all rights it has against the real estate described in
Exhibit A attached hereto.
1. The Trustee hereby releases and discharges the lien
2. All other terms and conditions of the Mortgage, the
effect . Indenture and the Assignment shall remain in full force and
STATE OF WISCONSIN 1
caused these presents to be signed in its name and behalf by
its Mayor and City Clerk thereunto duly authorized and its
official seal to be hereonto affixed and The Marine Trust
Company, N.A. has caused these presents to be executed by
its duly authorized officers and its corporate seal to be
hereunto affixed, all as of the day and year first above
written.
IN WITNESS WHEREOF, the City of Muskego, Wisconsin has
CITY OF MUSKEGO, WISCONSIN
a municipal corporation
BY Mayor
By City Clerk
THE MARINE TRUST COMPANY, N.A., TRUSTEE
Attest:
WAUKESHA COUNTY
i ss.
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On the
Notary Publix and for said County,
day of August, A.D., 1984, before me, a
personally appeared - and
personally known, who being by me first duly sworn, did say
that they are the Mayor and City Clerk, respectively, of the
CITY OF MUSKEGO, WISCONSIN, the municipal corporation named
in and which executed the within instrument, and that the
seal affixed to said instrument is the seal of said municipal
corporation, and that said instrument was signed and sealed
in behalf of said municipal corporation by authority of its
, to me
. - - - Common Council and said
and deed of said municipal corporation.
and
acknowledged said instrument to be the free ac.t
Notary Public, County,
Wisconsin.
My Commission
(Notarial Seal)
STATE OF WISCONSIN )
MILWAUKEE COUNTY )
) ss.
On this day of August, A.D., 1984, before me,
a Notary Public in and for said County, personally appeared
, to me personally known, who being by me first duly sworn, did
and
respectively, of THE MARINE TRUST COMPANY, N.A., the Trustee
say that they are the and
named in and which executed the within instrument and that the
seal affixed to said instrument is the seal of said Trustee
and that said instrument was signed and sealed in behalf of
said Trustee by authority of its Board of Directors and said
,
and
instrument to be the free act and deed of said Trustee.
acknowledged said
Notary Public, Milwaukee County,
Wisconsin.
My Commission
(Notarial Seal)
This document was drafted by Larry R. Dalton, Whyte 6
Hirschboeck S.C., 2100 Marine Plaza, Milwaukee, Wisconsin 53202.
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e EXHIBIT A
.All that part of the Northeast One-Quarter (ME 1/41
of Section 17, Township 5 North, Range 20 East, City .
of Muskego, Waukesha County, Wisconsin, also being a
part of the Certified Survey Map No. 3244, Document
No. 1039486, Volume' 24, pages 216, 217 and 218"
recorded March 21, 1978, Waukesha County Register
of Deeds, bounded and described as follows: Commencing
at the East One-Quarter (E 1/4) corner of Section 17;
thence North OOO28'15" East along the East line of the
Northeast One-Quarter (NE 1/4) of Section 17, 155.41
Drive; thence South 55O20'15" West along said Southerly
feet to the Southerly right-of-way line of Gemini
right-of-way line, 226.67 feet to the Westerly right-
of-way line of Mercury Drive: thence North 34'39'45''
West along said Westerly right-of-way line 1,084 feet;
thence South 55°20'15" West along the Northerly ri'ght-
beginning of the parcel of land hereinafter described;
of way line of Apollo Drive 732 feet to the place of
thence North 34'48'49" West 307.12 feet to the Southerly
right-of-way line of the Wisconsin Electric Power
Company; thence along said Southerly right-of-way line
and the arc of a curve to the right 318.21 feet the
center of which lies Northwest, radius of 5,767.15 feet
and a chord bearing South 59O45'57" West 318.17 feet:
thence South 34°39'40" East 331.74 feet to the Northerly
right-of-way line of Apollo Drive; thence North 55'20'15''
East along said Northerly right-of-way line 318.00 feet
to the place of beginning (containing 2.32 acres).
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