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A Resolution Evidencing the Consent of the Village of Romeoville to an Assignment of Rights to Payment Under a Certain Redevelopment Agreement (Bridge Point Romeoville, LLC as Assignor to MB Romeoville Partners, LLC as Assignee)
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WHEREAS, the Village of Romeoville has previously entered into a redevelopment agreement (the “Redevelopment Agreement”) with Bridge Point Romeoville, LLC; and
WHEREAS, the Village has been advised that Bridge Point Romeoville LLC is assigning its rights to payment under the Redevelopment Agreement to MB Romeoville Partners LLC, and further that such parties request the Village to consent to their proposed assignment of the Redevelopment Agreement; and
WHEREAS, the Village is willing to consent to such parties’ proposed assignment of the Redevelopment Agreement provided that it is in substantially the form attached hereto and incorporated herein by reference as Exhibit A, and further subject to the Village’s receipt of an executed release of the rights of Bridge Point LLC to receive payment under the Redevelopment Agreement, as provided for in the documents attached as Exhibit A.
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF ROMEOVILLE, WILL COUNTY, ILLINOIS:
SECTION ONE. The forgoing Recitals are hereby incorporated into this resolution as if fully set forth in this Section 1.
SECTION TWO. The Village hereby consents to the assignment of the Redevelopment Agreement from Bridge Point Romeoville, LLC as Assignor to MB Romeoville Partners, LLC as Assignee and to execute the consent letter included within the documents attached as Exhibit A, provided that such assignment shall be in substantially the form attached hereto as Exhibit A, subject to the final review and approval of the Village Manager and Village Attorney, and subject to the Village’s receipt of an executed release of the rights of Bridge Point LLC to receive payment under the Redevelopment Agreement, as provided for in the documents attached as Exhibit A.
SECTION THREE. That the various provisions of this Resolution are to be considered severable and if any part or portion of this Resolution shall be held invalid by any Court of competent jurisdiction, such decision shall not affect the validity of the remaining provisions of this Resolution.
SECTION FOUR. All prior Resolutions and Resolutions, or parts thereof in conflict or inconsistent with this Resolution are hereby expressly repealed only to the extent of such conflict or inconsistency.
SECTION FIVE. This Resolution shall be in full force and effect from and after its passage, approval and publication in pamphlet form as provided by law.