CCR2021099-DA Consent - Spectrum
COMMON COUNCIL - CITY OF MUSKEGO
RESOLUTION #099-2021
APPROVAL OF AN ASSIGNMENT, ASSUMPTION AND CONSENT AGREEMENT
FOR THE SPECTRUM WATERTOWER HOLDINGS, LLC DEVELOPERS
AGREEMENT
WHEREAS, The City of Muskego and Spectrum Watertower Holdings, LLC. entered
into a Development Agreement dated November 16, 2014, which was recorded with the
Waukesha County Register of Deeds on January 20, 2015, as Document No. 4121741;
and
WHEREAS, Spectrum Watertower Holdings, LLC. has entered into a Purchase and
Sale Agreement with MKE I – Commerce, LLC., dated August 11, 2021, whereby the
property subject to the Development Agreement will be sold; and
WHEREAS, The seller desires to assign all of its rights, obligations and liabilities under
the Development Agreement to the purchaser, and the purchaser desires to accept and
assume all of the rights, obligations and liabilities of the seller under the original terms of
the Development Agreement; and
WHEREAS, Pursuant to Section IX of the Development Agreement, the assignment of
the Development Agreement requires the City’s consent.
NOW, THEREFORE, BE IT RESOLVED That the Common Council of the City of
Muskego does hereby approve the attached Assignment, Assumptions and Consent
Agreement.
BE IT FURTHER RESOLVED That the Mayor and Clerk-Treasurer are authorized to
sign the Agreement and the City Attorney is authorized to make substantive changes as
may be necessary in order to preserve the general intent thereof.
DATED THIS 27th DAY OF OCTOBER 2021.
SPONSORED BY
Ald. John Terrance
This is to certify that this is a true and accurate copy of Resolution #099-2021, which
was adopted by the Common Council of the City of Muskego.
____________________________
Clerk-Treasurer
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