HomeMy WebLinkAbout1339 Vacating and Discontinuing Portion of Van de Populier ROW and Recorded Partial Release BILL NO. 2014-063 ORDINANCE NO. �
AN ORDINANCE VACATING AND DISCONTINUING A PORTION OF THE VAN DE
POPULIER RIGHT OF WAY AND PUBLIC STREET, IN THE CITY OF RIVERSIDE, PLATTE
COUNTY, MISSOURI UPON THE OCCURRENCE OF CERTAIN CONDITIONS
WHEREAS, Argo Innovation Park Lot 6, L.L.C., submitted an application (No. PC14-04)
requesting that the right-of—way for a public street and public street, identified as Van de
Populier, at location "5233 NW 415` Street, Van de Populier south of 415' Street to 3950 NW Van
de Populier" comprising approximately 19,960 square feet, the legal description of which is
attached hereto as Exhibit A and incorporated herein (the "Van de Populier Tract"), be vacated
as a right-of-way and vacated as a public street (the "Vacation Application"); and
WHEREAS, pursuant to §88.673 RSMo, the Board of Aldermen shall have the power to
vacate or discontinue any street whenever deemed necessary or expedient; and
WHEREAS, Van de Populier is a public street and the right-of-way to which is herein
referred is atso known as Van de Populier; the process for vacation of both or any portion
thereof is governed by the Riverside Unified Development Ordinance, Section 400.270, and
proper notice was provided allowing the City to make a clerical correction with this Ordinance;
and
WHEREAS, City staff recommended approval of the vacation in the Staff Analysis
Report for the Vacation Application, attached hereto as Exhibit B and incorporated herein,
stating that such vacation "is in conformance with the approved Master Plan and does not
negatively impact traffic flow of the developmenY'; and
WHEREAS, the City wishes to reserve an easement or easements in that portion of
vacated Van de Populier for the maintenance, repair, location, and relocation of all sanitary
sewer, storm sewer, or public utilities now existing in the right-of-way; and
WHEREAS, the Planning Commission held a public hearing to consider the Vacation
Application on May 8, 2014, and the Planning Commission recommended that the Vacation
Application be approved, as evidenced by the minutes attached hereto as Exhibit C and
incorporated herein; and
WHEREAS, the Industrial Development Authority of the City of Riverside, Missouri
("IDA"), issued its Industrial Development Revenue Bonds (Riverside, Horizons Infrastructure
Project — City of Riverside, Missouri), Series 2007 in the principal amount of $40,265,000 (the
"Bonds"); and
WHEREAS, the City, the IDA, and UMB Bank, N.A. entered into that certain Financing
and Cooperation Agreement dated as of May 1, 2007, relating to the Bonds (the "Financing
AgreemenY'); and
WHEREAS, the Financing Agreement requires that the IDA, upon direction of the City,
transfer and seil the Mortgaged Property, as defined in the Financing Agreement, in whole or in
part, in one or more transactions; and
WHEREAS, the IDA executed that certain Right of Way Deed, dated September 26,
2007, and recorded on October 4, 2007, in the office of the Platte County, Missouri Recorder of
Deeds as Document No. 2007 15794, in Book 1111, Page 854, deeding certain land to the City
WA i969447.2
of Riverside, Missouri ("City"), including a portion of the Van de Populier Tract which is
Mortgaged Property under the Financing Agreement; and
WHEREAS, the cost to release the Van de Populier Tract from the Financing Agreement
and that certain Deed of Trust and Security Agreement in connection with the Financing
Agreement (the "Deed of TrusY') is $4,990.50; and
WHEREAS, upon vacation of the Van de Populier Tract, the underlying property, not
including any easements retained by the City, shall accrue by operation of law to Argo
Innovation Park Lot 6, L.L.C., and to the extent it does not, the City has previously directed the
IDA to quit claim any interest it may have in the Van de Populier Tract upon vacation to Argo
Innovation Park Lot 6, L.L.C. by way of Ordinance No. 1318 passed and approved by the Board
of Aldermen on May 20, 2014, and the City further desires to quit claim any interest it may have
in the Van de Populier Tract upon vacation to Argo Innovation Park Lot 6, L.L.C.; and
WHEREAS, the Board of Aldermen find that the vacation of this right-of-way and public
street would not inconvenience the public or citizens of the City; and
WHEREAS, the Board of Aldermen finds the application is consistent with the intent and
purpose of the Unified Development Ordinance, is consistent with the Comprehensive Master
Plan and other adopted planning policies, is consistent with the City Municipal Code and other
adopted policies, that pubiic facilities and services are available and adequate to meet the
demand generated by the proposal, that the City staff recommends approval, that approval does
not create a negative precedential impact, that the vacation improves the character of the
surrounding neighborhood, is compatible and consistent with the existing zoning and uses of
adjacent properties and will have a positive impact on the property and neighboring property,
and that the vacation of the portion of right of way and portion of the public street known as Van
de Populier upon the conditions as set forth herein is in the best interests of the City in order to
further the objectives of industrial and economic development of the City, and to further the
objective to protect the health, safety, and welfare of the businesses and citizens of the City.
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE
CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS:
SECTION 1 — BEST INTEREST OF THE CITY TO APPROVE THE VACATION OF
VAN DE POPULIER TRACT. The Board of Aldermen finds the Vacation of the right-of—way for
a public street and the public street identified as Van de Populier, at location "5233 NW 41�'
Street, Van de Populier south of 41S` Street to 3950 NW Van de Populier" comprising
approximately 19,960 square feet, the legal description of which is attached hereto as Exhibit A
and incorporated herein (the "Van de Populier TracY'), is consistent with the intent and purpose
of the Unified Development Ordinance, is consistent with the Comprehensive Master Plan and
other adopted planning policies, is consistent with the City Municipal Code and other adopted
policies, that public facilities and services are available and adequate to meet the demand
generated by the proposal, that the City staff recommends approval, that approval does not
create a negative precedential impact, that the vacation improves the character of the
surrounding neighborhood, is compatible and consistent with the existing zoning and uses of
adjacent properties and will have a positive impact on the property and neighboring property. in
order to further the objectives of industrial and economic development of the City, as well as in
furtherance of the objective to protect the health, safety, and welfare of the businesses and
citizens of the City, the Board of Aldermen hereby declare it necessary, reasonable, and proper
to discontinue as a right-of-way for a public street the Van de Populier Tract, described on
Z WA 59694472
Exhibit A attached hereto and incorporated herein, and forever vacate Van de Populier Street in
that tract subject to the following conditions:
A. Argo Innovation Park Lot 6, L.L.C. pay to the City the sum of $4,990.50 to
release the Van de Populier Tract from the Financing Agreement and the Deed of Trust;
and
B. The City quit claims any interest it may have in the Van de Populier Tract
upon vacation to Argo Innovation Park Lot 6, L.L.C. by way of the Quit Claim Deed
attached hereto and incorporated herein as Exhibit D (the "Quit Claim Deed"); and
C. The City retains all of that portion of the above vacated property as a
perpetual easement or right-of-way for the construction, maintenance, repair, relocation,
and operation of sanitary sewers, storm water drainage, and all public utility facilities,
and no permanent buildings or structures shall be located within or upon said easement
without prior written consent of the City.
SECTION 2 —AUTHORITY GRANTED. The Mayor is authorized to execute and deliver
the Quit Claim Deed in substantially the form attached hereto as Exhibit D, with such changes
therein as are approved by the officials of the City executing the Quit Claim Deed, such officials'
signatures thereon being conclusive evidence of their approval thereof. The Mayor, City
Administrator, Special Counsel to the City — Spencer Fane Britt & Browne LLP, and other
appropriate officials and employees of the City are hereby authorized and directed to take any
and all actions as may be deemed necessary or convenient to carry out and comply with the
intent of this Ordinance and to execute and deliver for and on behalf of the City all certificates,
instruments, agreements and other documents, as may be necessary or convenient to perform
all matters herein authorized.
SECTION 3 — EFFECTIVE DATE. This Ordinance shall be in full force and effect from
and after the date of its passage and approval.
BE IT REMEMBERED that the above was read two times by heading only, PASSED AND
APPROVED by a majority of the Board of Aldermen and APPROVED by the Mayor of the City
of River�ide,'Missouri, this 19th day of August, 2014.
' K hleen L. Rose, Mayor
A�TE � •
Robin Littreil, Ci r Clerk ` Appr ved as to form:
cer Fane Britt & Browne LLP
ecia unsel to the City
Bednar
3 WA 5969447.2
EXHIBIT A
LEGAL DESCRIPTION
A TRACT OF LAND IN THE SOUTHWEST QUARTER OF SECTION 5, TOWNSHIP 50N,
R,4NGE 33W IN RIVERSIDE, PLATTE COUNTY, MISSOURI, DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OF THE SOUTHWEST QUARTER OF
SECTION 5; THENCE SOUTH 88 DEGREES, 51 MINUTES, 51 SECONDS EAST, ALONG
THE SOUTH LINE OF THE SOUTHWEST QUARTER, 20.00 FEET TO THE SOUTHEAST
CORNER OF THE PLAT "ARGO INNOVATION PARK" RECORDED IN BK. 20 AT PG. 395;
THENCE NORTH 00 DEGREES, 29 MINUTES, 11 SECONDS EAST, ALONG THE EAST LINE
OF THE PLAT, 499.15 FEET TO THE INTERSECTION OF THE PROLONGATION OF THE
NORTH LINE OF LOT 6 "ARGO INNOVATION PARK" AND THE EAST LINE OF THE PLAT;
THENCE NORTH 89 DEGREES, 35 MINUTES, 34 SECONDS WEST, 20.00 FEET TO THE
WEST LINE OF THE SOUTHWEST QUARTER OF SECTION 5; THENCE SOUTH 00
DEGREES, 29 MINUTES, 11 SECONDS WEST, ALONG THE WEST LINE, 498.90 FEET, TO
THE POINT OF BEGINNING, CONTAINING 9981 SQUARE FEET, MORE OR LESS; AND
A TRACT OF LAND IN THE SOUTHEAST QUARTER OF SECTION 6, TOWNSHIP 50N,
RANGE 33W IN RIVERSIDE, PLATTE COUNTY, MISSOURI, DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF THE SOUTHEAST QUARTER OF SECTION
6; THENCE NORTH 89 DEGREES, 23 MINUTES, 44 SECONDS WEST, ALONG THE SOUTH
LINE OF THE SOUTHEAST QUARTER, 20.00 FEET TO THE EAST LINE OF LOT 6, "ARGO
INNOVATION PARK" AS RECORDED IN BK. 20, PG. 395; THENCE NORTH 00 DEGREES,
29 MINUTES, 11 SECONDS EAST, ALONG THE EAST LINE, 498.83 FEET TO THE
NORTHEAST CORNER OF LOT 6; THENCE SOUTH 89 DEGREES, 35 MINUTES, 34
SECONDS EAST, 20.00 FEET TO THE EAST LINE OF THE SOUTHEAST QUARTER OF
SECTION 6; THENCE SOUTH 00 DEGREES, 29 MINUTES, 11 SECONDS WEST, ALONG
THE EAST LINE, 498.90 FEET, TO THE POINT OF BEGINNING, CONTAINING 9977
SQUARE FEET, MORE OR LESS.
4 WA Sy694472
EXHIBIT B
STAFF ANALYSIS REPORT
5 WA 59694472
cirr oF City of Riverside
�- RIl/ERS staff Analysis Report
*�,.'"'�, h!!:5�.}lJfi.i
uns�am��rMary. Case Number PC14-04, Right-of-Way Vacation
NW Van de Populier
General Information
Applicant: Argo Innovation Park Lot 6, LLC
Location: 5233 N W 41�` Street, Van de Populier south of 41 s`Street to 3950 N W Van de
Populier
Application: Vacation
Zoning: PD-Planned Development
Existing Land Use: Undeveloped / Right-of-Way
Proposed Land Use: Industrial
Action: Recommendation by the Planning Commission to the Board of Aldermen.
Area to be Vacated: L9,960 sq.ft. (--40 ft. x 499 fr.)
Procedure
The procedure for the vacation of right-of-way is governed by Section 400.280 of the Unified
Development Ordinance (UDO). A right-of-way vacation requires a public hearing before the
Planning Commission and the Board of Aldermen after notice has been given at least fifteen
days in advance in a local paper, and properties owners within 185 feet have been notified; these
requirements have been satisfied for this request. If recommended by the Planning Commission
and approved by the Board of Aldermen, an ordinance shall be passed by the Board of
Aldermen and filed with the Platte County Recorder of Deeds.
Introduction
The applicant, Argo Innovation Park Lot 6, LLC, is requesting the right-of-way for N W Van de
Populier south of NW 41s� and north of 3950 NW Van De Populier to be vacated. 1'he area
being vacated is approximately 19,960 square feet of Van de Populier that is no longer being
utilized and is no longer necessary with the construction of Horizons Parkway. This portion of
Van de Populier was removed in 2010 when 41�' Street was constructed. By vacating this
portion of NW Van de Populier this allows the applicant to maximize buildable space.
Analvsis
The portion of the existing right-of-way to be vacated is not necessary in the overall street
system with the construction of N W Horizons Parkway and it was the intention of the City to
vacate NW Van de Populier and dedicate the right-of-way back to adjacent property owners.
Lot 6 of Argo Innovation Park will have access off of N W 41s' Street and there are no other lots
have access off the section of road that is requested for vacation. This vacation still allows for
adequate right-of-way for Horizons Parkway and for the swale system.
Page l 0(2
Attachmants
Site Plan
Recommendation
Staff sugports the request af the vacation of right-of-way far N W Van de Populier as it is in
conformanee with the approved Master Plan and does not negaYively impact trafi'ic fl�aw of the
development.
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EXHIBIT C
PLANNING COMMISSION MINUTES (May 8, 2014)
6 W'A i969447.2
MINUTES
REGULAR MEETING
PLANNING AND ZONING COMMISSION
RIVERSIDE, MISSOURI
Thursday, May 8, 2014
630 p.m.
The Planning and Zoning Commission for the City of Riverside, Missouri, met in regular session at
Riverside City Hall,2950 NW Vivion Road, Riverside, Missouri.
Chair AI Bowman called the meeting to order at 6:.30 p.m. Answering roll call were AI Bowman,
Stephen King, Ray Uhl, Hazold Snoderley, S[even Kaspar, Art Homer, Mike Lombardo,Jim Frakes and
Mike Soler. Also present Jackie Carlson City Planner and Community Development Assistant Sarah
Wagnec Members absent were Mayor Kathy Rose.
Approval of Minutes of Commissioner Kaspar moved to approve the minutes of April 10,
April 1Q 2014 2014, seconded by Commissioner Bowman.
Motion passed 9-0.
Public Hearing-Special Chair Bowman opened the public hearing at 6:32 p.m.
Use Permit- Lots 1 &2
Riverside Horizons West Carlson explained that the applicant is requesting that the public
hearing be continued to the June 12, 2014 Planning Commission
meeting.
Chari Bowman opened the public hearing at 6:33 p.m.
Commissioner Homer moved to continue the public hearing to
June 12, 2014, seconded by Commissioner Kaspar.
Motion passed 9-0.
Public Hearing-Vacation Chair Bowman opened the public hearing at 6:33 p.m.
of Right-of-Way- Van de
Populier Jackie Carlson gave a staff report explaining that this vacation and
the following replat concern the same property. This is for a 40
foot strip of Van de Populier consisting of approximately 20,000
square feet of road that was removed then N W Horizons Parkway
was constructed. Sufficient right-of- way still exists for Horizons
Parkway and the vacated portion of Van de Populier will be
replatted as part of Argo Innovation Park Lot 6.
Chair Bowman closed the public hearing at 6:39 p.m.
Commissioner King moved to recommend approval of the
1
vacation of a portion ofNW Van de Populier to the Board of
Aldermen, seconded by Commissioner Soler.
Motion passed 9-0.
Replat/Final Plat-Argo Carlson explained that the replaUfinal plat of Argo Innovation
Lot 6 park Lot 6 will incorporate the newly vacated portion ofNW Van
de Populier, as well as adjust some of the 50 foot build line to 30
feet to accommodate new construction, and dedicated a small
portion of right-of-way in the northeast corner will be donated
back to the city for N W 4151 Street.
Commissioner Snoderley moved to recommend approval of the
replat/final plat of Argo Innovation Park Lot 6 to the Board of
Aldermen, seconded by Commissioner Uhl.
Motion passed 9-0.
Final Development Plan- Carlson explained that the applicant, the Tutera Group, is
Argo Lot 6
proposing a 237,000 square foot industrial building on this 15
acre parcel that will face Horizons Parkway. The south side of
the building will contain dock doors as well as a 30 foot metal
storage tank and metal storage bins. Additional landscaping and
screening will be added along this side of the building.
Commissioner King asked if there were any other buildings in
Horizons of this size. Carlson replied that there are 4 other
buildings.
Commissioner Bowman asked about outdoor storage. Carlson
replied that it will only be the large storage tanks piped into the
building and the metal storage bins similar to recycling bins.
Commissioner Kaspar asked if there were any concerns about
what will be stored in the tanks. Fire Marshal Payne replied that
he has no concems at this point and will be getting more
information as the progress progresses.
Commissioner Uh) asked what the company will do at this
facility. Carlson replied that they are a GM supplier that will do 4
different processes for them.
Commissioner Soler moved to recommend approval of the final
development plan for Argo Innovation Park Lot 6 to the Board of
Aldermen, seconded by Commissioner Snoderley.
Motion passed 9-0.
2
Preliminary Development Chair Bowman opened the public hearing at 6:52 for both the
Plan/Preliminary Plat and preliminary development plan/ preliminary plat and the rezoning
Rezoning 3900 NW of 3900 NW Helena Road
Helena Road
Carlson explained that both the preliminary development
plan/preliminary plat and the rezoning are for the same property
and projects so they will be discussed together. She explained
that the applicant, Lamar Construction, is requesting that
approximately 40 acres be rezoned from GP-I General Planned
Industrial to PD Planned Development similar to the other
developments in Horizons. The preliminary plat in question will
consist of one lot that will require the extension of infrastructure
to include the extension of NW Helena Road and N W 40`h Street
The preliminary development plan presented shows the general
layout of the 425,000 square foot building and the parking.
Parking will be on the west side of the building as it is one of the
few things allowed in the Levee Critical Area. Because this
development is within the Levee Gitical area landscaping is
limited on the west side of the building. Additional landscaping
will be necessary on the final development plan along N W Helena
Road and NW 41s` Street for additional screening. In addition, the
applicant will be required to make some adjustments on the
building elevation to help break up how the building looks prior
to approval of the final development plan at a later time.
Commissioner Soler asked what is allowed in the Levee Critical
Area. Carlson replied that no holes are allowed to be dug in that
area.
Commissioner King asked if this would be the tallest building in
Horizons so far. Carlson replied that the building will be 60 feet
tall in some areas to accommodate machinery so it would be the
tallest building so far.
Commissioner Bowman asked about parking for the facility if
they expand. Carlson replied that the applicant is requesting that
we reduce some of the parking requirement for them, bu[there
will still be room for parking if there is an expansion in the future.
Commissioner Kaspar asked wha[ the timing on this project was.
Cartson replied that they would like to start breaking ground
sometime next month.
Jon Frego with Lamar Construction as the owners representative
discussed with the Commission what they would like to see as far
as building color and elevation as well as additional landscaping
3
for the final development plan.
Commissioner Soler asked about signage. Frego replied that they
typically have a monument sign located near the road.
Chair Bowman closed the public hearing at 7:17 p.m.
Commissioner Kasper asked about the infrastructure. Carlson
explained that the City is working to secure CDBG funding to
extend the road and sewer as well as KCPL and Missouri
American Water. This site will also tie into the regional detention
system in Horizons.
Commissioner King moved to recommend approval of the final
development plan/final plat of3900 NW Helena Road to the
Board of Aldermen, seconded by Commissioner Snoderley.
Motion passed 9-0.
Commissioner Soler moved to approve the rezoning of 3900 NW
Helena Road to the Board of Aldermen, seconded by
Commissioner Uhl.
Motion passed 9-0.
Land Disturbance-3900 Carlson explained that this request is for the same 40 acres we
NW Helena Road have been discussing so that they can begin brining fill on to the
site.
Commissioner Kaspar moved to approve the land
disturbance/grading permit for 3900 NW Helena Road, seconded
by Commissioner King.
Motion passed 9-0.
Adjoum Commissioner Kaspar moved to adjourn at 728 p.m.
Commissioner Homer seconded and the meeting was adjoum 9-0.
Sarah Wagner
Community Development
4
EXHIBIT D
QUIT CLAIM DEED
� W q 5969447.2
S
Recorded In Platte County, Missouri
Recording Date/Time: 09110/2014 at 08:18:15 AM
Instr Number: 2014010022 "'q
`���Go01. opo
Book: 1233 Page: 43 . 9
Type: TR DCD
Pages: 8
Fee:
IIINIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIINIIN ---°°�;;;;;�,' '°�
Grantor: RIVERSIDE MISSOURI CITY OF Dlorle Boyer,
Grantee: ARGO INNOVATION PARK LOT 6 LLC Recorder of Deeds
Title of Document: Quit Claim Deed
Date of Document: August'j*, 2014
Grantors: City of Riverside, Missouri; and
The Industrial Development Authority of the City of
Riverside, Missouri
Grantors'Address: 2950 N.W. Vivion Road
Riverside, Missouri, 64150
Grantee(s) Name and Address: Argo Innovation Park Lot 6, L.L.C.
7611 State Line Road
Suite 301
Kansas City, MO 64114
Legal Description/Address: See following page
Book and Page Reference: N/A
WA 5166765.1
Back 1233 Page 43
QUIT CLAIM DEED
THIS DEED witnesseth that The Industrial Development Authority of the City of
Riverside, Missouri and the City of Riverside, Missouri ("Grantors'), for good and valuable
consideration, do by these presents REMISE, RELEASE and FOREVER QUITCLAIM unto Argo
Innovation Park Lot 6, L.L.C., whose mailing address is 7611 State Line Road, Suite 301,
Kansas City, MO 64114 ("Grantee"), its successors and assigns, the lots, tracts or parcels of
land, lying, being and situate in the County of Platte and State of Missouri as described as
follows:
A TRACT OF LAND IN THE SOUTHWEST QUARTER OF SECTION 5,
TOWNSHIP 50N, RANGE 33W IN RIVERSIDE, PLATTE COUNTY, MISSOURI,
DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OF THE SOUTHWEST
QUARTER OF SECTION 5; THENCE SOUTH 88 DEGREES, 51 MINUTES, 51
SECONDS EAST, ALONG THE SOUTH LINE OF THE SOUTHWEST
QUARTER, 20.00 FEET TO THE SOUTHEAST CORNER OF THE PLAT
"ARGO INNOVATION PARK" RECORDED IN BK. 20 AT PG. 395; THENCE
NORTH 00 DEGREES, 29 MINUTES, 11 SECONDS EAST, ALONG THE EAST
LINE OF THE PLAT, 499.15 FEET TO THE INTERSECTION OF THE
PROLONGATION OF THE NORTH LINE OF LOT 6 "ARGO INNOVATION
PARK" AND THE EAST LINE OF THE PLAT; THENCE NORTH 89 DEGREES,
35 MINUTES, 34 SECONDS WEST, 20.00 FEET TO THE WEST LINE OF THE
SOUTHWEST QUARTER OF SECTION 5; THENCE SOUTH 00 DEGREES, 29
MINUTES, 11 SECONDS WEST, ALONG THE WEST LINE, 498.90 FEET, TO
THE POINT OF BEGINNING, CONTAINING 9981 SQUARE FEET, MORE OR
LESS; AND
A TRACT OF LAND IN THE SOUTHEAST QUARTER OF SECTION 6,
TOWNSHIP 50N, RANGE 33W IN RIVERSIDE, PLATTE COUNTY, MISSOURI,
DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF THE SOUTHEAST QUARTER
OF SECTION 6; THENCE NORTH 89 DEGREES, 23 MINUTES, 44 SECONDS
WEST, ALONG THE SOUTH LINE OF THE SOUTHEAST QUARTER, 20.00
FEET TO THE EAST LINE OF LOT 6, "ARGO INNOVATION PARK" AS
RECORDED IN BK. 20, PG. 395; THENCE NORTH 00 DEGREES, 29
MINUTES, 11 SECONDS EAST, ALONG THE EAST LINE, 498.83 FEET TO
THE NORTHEAST CORNER OF LOT 6; THENCE SOUTH 89 DEGREES, 35
MINUTES, 34 SECONDS EAST, 20.00 FEET TO THE EAST LINE OF THE
SOUTHEAST QUARTER OF SECTION 6; THENCE SOUTH 00 DEGREES, 29
MINUTES, 11 SECONDS WEST, ALONG THE EAST LINE, 498.90 FEET, TO
THE POINT OF BEGINNING, CONTAINING 9977 SQUARE FEET, MORE OR
LESS.
TO HAVE AND TO HOLD, the premises aforesaid, with all and singular the rights,
privileges, appurtenances and immunities thereto belonging or in any wise appertaining, unto
WA 5166765.1
Br->ok 1233 Pa-ge 43
IN WITNESS WHEREOF, Grantors have caused these presents to be signed as of the day and
year first above written.
GRANTORS:
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSI E, MISSOURI
By:
Name:
Title:
ATTEST:
By:
;arahiagner, S etary
ACKNOWLEDGEMENT
STATE OF MISSOURI )
) SS
COUNTY OF PLATTE )
ON THIS
.—)NBA of August, 2014, before me, the undersigned, a Notary Public in and
for said county and state, personally appeared &-601& y \e to me personally known,
who being by me duly sworn, did say that he/she is the Q&k- of The Industrial
Development Authority of the City of Riverside, Missouri, a public corporation duly organized
and existing under the laws of the state of Missouri, and that the seal affixed to the foregoing
instrument is the seal of said Authority, and that said instrument was signed and sealed in
behalf of said Authority by free act and deed of said Authority.
WITNESS my hand and official seal in the County and State aforesaid, the day and year
first above written.
i
Notary Public Signature
(Seal)
Printed or Typed Na
My Commission Expires: Vk>P-rXw
WA 5166765.1
s
d .
Recorded In Platte County, Missouri
Recording Date/Time: 09/10/2014 at 08:18:15 AM
Instr Number: 2014010021 .
?e
Book: 1233 Page: 42 ,,'Ali°.••
Type: DR PART
Payee: e
Fee: $38.00 S
III IN IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII
Grantor: UMB BANK NA Gloria Boyer,,
Grantee: INDUSTRIAL DEVELOPMENT AUTHORITY OF... Recorder of Deeds
Title of Document: PARTIAL RELEASE
Date of Document: June 16 , 2014
Grantor: UMB BANK, N.A.
1010 Grand Blvd., 4'" Floor
Kansas City, Missouri, 64106
Grantee: THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF
RIVERSIDE, MISSOURI
2950 NW Vivion Road
Riverside, Missouri 64150
and
THE CITY OF RIVERSIDE, MISSOURI
2950 NW Vivion Road
Riverside, Missouri 64150
Legal Description: See Exhibit A of Partial Release
Reference: BK1103PG315 BK1103PG316
Return Recorded Document to:
,,-'City of Riverside
Attn: Greg Mills
2950 NW Vivion Rd
Riverside, MO 64150
Book 1233 Pa. g z 42
PARTIAL RELEASE
The City of Riverside, Missouri
and
The Industrial Development Authority of the City of Riverside, Missouri
ti
THIS PARTIAL RELEASE is executed on the abt day of June, 2014 by UMB BANK,
N.A., a national association duly organized and existing under the laws of the United States of
America having a corporate trust office located at UMB Bank, N.A., 1010 Grand Blvd., 4`" Floor,
Kansas City, Missouri 64106, Attention: Corporate Trust Department, and its successors and
assigns ("Mortgagee"), for the benefit of the CITY OF RIVERSIDE, MISSOURI, a fourth class
municipality of the State of Missouri having its principal office located at 2950 NW Vivion Road,
Riverside, Missouri 64150 ("City") and THE INDUSTRIAL DEVELOPMENT AUTHORITY OF
THE CITY OF RIVERSIDE, MISSOURI, a public corporation organized and existing under the
laws of the State of Missouri, having its principal office located at 2950 NW Vivion Road,
Riverside, Missouri 64150 ("Mortgagor").
RECITALS:
A. The Mortgagor issued its $30,265,000 Revenue Bonds (Riverside Horizons
Infrastructure Project - City of Riverside, Missouri) Series 2007A and $10,000,000 Revenue
Bonds (Riverside Horizons Infrastructure Project - City of Riverside, Missouri) Series 2007B
dated as of May 1, 2007 (the "Bonds").
B. In connection with the Bonds, Mortgagee and Mortgagor entered into a series of
security documents, including (but without limitation):
(i) A Financing and Cooperation Agreement dated May 1, 2007 between
Mortgagee, Mortgagor, and City; recorded May 9, 2007 in Book 1103 a Page 315 in the
office of the Recorder of Deeds, Platte County, Missouri ("Financing Agreement'), and
(ii) A Deed of Trust and Security Agreement dated May 1, 2007 whereby Mortgagor
granted a deed of trust lien on the property described therein ("Mortgaged Property") to
secure the payment of the Bonds, and any other amounts or obligations secured
thereby; recorded May 9, 2007 in Book 1103 at Page 316 in the office of the Recorder of
Deeds, Platte County, Missouri ("Deed of Trust').
C. Section 6.3 of the Financing Agreement set the minimum amount per square foot
which must be deposited with the Mortgagee with respect to a sale of all or any portion of the
Mortgaged Property at $.50 per square foot.
D. The City directed that the Mortgagor transfer 9981 square feet of the Mortgaged
Property, the legal description of such property being set forth on Exhibit A ("Released
Property") and Mortgagor, pursuant to a Quit Claim Deed, shall remise, release, and forever
quit claim all right, title and interest in the Released Property to Argo Innovation Park Lot 6,
L.L.C. upon the recording of this Partial Release.
E. Mortgagee has been paid the sum of Four Thousand Nine Hundred Ninety and
50/100 Dollars ($4,990.50) for the Released Property ($.50 per square foot).
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B.oFz 1233 Page 42
F. Pursuant to Section 6.5 of the Financing Agreement, Mortgagee shall release its
lien with respect to the Released Property.
NOW, THEREFORE, in consideration of these Recitals, the mutual benefits and
obligations accruing under this and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Mortgagee agrees as follows:
AGREEMENT
1. Mortgagee does hereby release its lien on the Released Property, the legal
description of which is described on Exhibit A attached hereto and made a part hereof. This is
a partial release of only the Released Property and shall not affect the remaining Mortgaged
Property or the indebtedness thereof on the Deed of Trust or Financing Agreement.
2. Notwithstanding the release of the lien on the Released Property, the Deed of
Trust, in the initial principal amount of $30,265,000 for the Series 2007A bonds and
$10,000,000 for the Series 2007B bonds from the Mortgagor to the Mortgagee shall remain in
full force and effect and any indemnities and other obligations under the Deed of Trust which, by
their terms, survive a release of the lien on the Released Property, shall remain in full force and
effect with respect to the non-released property and are not cancelled.
3. Furthermore, notwithstanding anything to the contrary contained herein, any and
all liens created against the Released Property in the Deed of Trust and/or the Financing
Agreement are released in their entirety and in all respects, Mortgagee shall have no continuing
rights, interests or privileges whatsoever with respect to the Released Property, or any portion
thereof, and Mortgagee shall have no rights of action, foreclosure, recourse or otherwise
whatsoever with respect to or against the Released Property, or any portion(s) thereof, from and
after the date hereof, including, without limitation, arising from any purported breach or default
by Mortgagor or its successors or assigns of any obligations that purport to have survived the
release made hereby.
IN WITNESS WHEREOF, Mortgagee hereby executes this instrument to be effective as
of the date first written above.
MORTGAGEE:
UMB BANK, N�.A�
Nam : Wendee I. Peres
Title: Vice-President
3
Bi=,o k 1 233 Paa Q c 42
ACKNOWLEDGEMENT
STATE OF MISSOURI }
} SS.
COUNTY OF JACKSON }
On this, the 'X& day of June 2014, before me, the undersigned, a Notary Public
appeared Wendee I. Peres, who being before me duly sworn did say that she is a Vice
President of UMB Bank, N.A., a national banking association organized under the laws of the
United States of America and that the seal affixed to the foregoing instrument is the seal of said
association, and that said instrument was signed and sealed on behalf of said association by
authority of its board of directors, and said official acknowledged said instrument to be executed
for the purposes therein stated and as the free act and deed of said association.
IN WITNESS WHEREOF, I hereunder set my hand and affixed my notary seal, the day
and year last above written.
Notary Public
My commission expires:
THEWRIGHT
Notary Public-Notary SNI
STATE OF MISSOURI
Jackson County
My Commission Expires:Mar OE.2017
Commission•13769240
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1233 Page 42
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
A TRACT OF LAND IN THE SOUTHWEST QUARTER OF SECTION 5, TOWNSHIP 50N,
RANGE 33W IN RIVERSIDE, PLATTE COUNTY, MISSOURI, DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OF THE SOUTHWEST QUARTER OF
SECTION 5; THENCE SOUTH 88 DEGREES, 51 MINUTES, 51 SECONDS EAST, ALONG
THE SOUTH LINE OF THE SOUTHWEST QUARTER, 20.00 FEET TO THE SOUTHEAST
CORNER OF THE PLAT "ARGO INNOVATION PARK" RECORDED IN BK. 20 AT PG. 395;
THENCE NORTH 00 DEGREES, 29 MINUTES, 11 SECONDS EAST, ALONG THE EAST LINE
OF THE PLAT, 499.15 FEET TO THE INTERSECTION OF THE PROLONGATION OF THE
NORTH LINE OF LOT 6 "ARGO INNOVATION PARK" AND THE EAST LINE OF THE PLAT;
THENCE NORTH 89 DEGREES, 35 MINUTES, 34 SECONDS WEST, 20.00 FEET TO THE
WEST LINE OF THE SOUTHWEST QUARTER OF SECTION 5; THENCE SOUTH 00
DEGREES, 29 MINUTES, 11 SECONDS WEST, ALONG THE WEST LINE, 498.90 FEET, TO
THE POINT OF BEGINNING, CONTAINING 9981 SQUARE FEET, MORE OR LESS; AND
A TRACT OF LAND IN THE SOUTHEAST QUARTER OF SECTION 6, TOWNSHIP 50N,
RANGE 33W IN RIVERSIDE, PLATTE COUNTY, MISSOURI, DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF THE SOUTHEAST QUARTER OF SECTION
6; THENCE NORTH 89 DEGREES, 23 MINUTES, 44 SECONDS WEST, ALONG THE SOUTH
LINE OF THE SOUTHEAST QUARTER, 20.00 FEET TO THE EAST LINE OF LOT 6, "ARGO
INNOVATION PARK" AS RECORDED IN BK. 20, PG. 395; THENCE NORTH 00 DEGREES,
29 MINUTES, 11 SECONDS EAST, ALONG THE EAST LINE, 498.83 FEET TO THE
NORTHEAST CORNER OF LOT 6; THENCE SOUTH 89 DEGREES, 35 MINUTES, 34
SECONDS EAST, 20.00 FEET TO THE EAST LINE OF THE SOUTHEAST QUARTER OF
SECTION 6; THENCE SOUTH 00 DEGREES, 29 MINUTES, 11 SECONDS WEST, ALONG
THE EAST LINE, 498.90 FEET, TO THE POINT OF BEGINNING, CONTAINING 9977
SQUARE FEET, MORE OR LESS.
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