HomeMy WebLinkAbout2011-11-17 IDA PacketTHE INDUSTRIAL DEVELOPMENT AUTHORITY OF
THE CITY OF RIVERSIDE, MISSOURI
Board of Directors
Notice of Meeting
Notice is hereby given that the Board of Directors of The Industrial Development Authority of
the City of Riverside, Missouri will conduct a meeting at 6:00 p.m. on Thursday, November 17, 2011, at
the City Hall of Riverside, 2950 NW Vivion Road, Riverside, Missouri 64150.
The tentative agenda of this meeting includes:
1. OPENING
2. ROLL CALL
3. APPROVAL OF MINUTES OF MEETINGS: September 19, 2011
4. NEW BUSINESS
A. RESOLUTION 2011-010: A Resolution Authorizing the Sale and Transfer of Certain
Property to the City of Riverside, Missouri; Directing UMB Bank, as Trustee, to Release
Such Property from the Deed of Trust; and Authorizing Other Actions in Connection
Therewith.
5. ADJOURNMENT
Posted by:
Date:
Time:
MINUTES
REGULAR MEETING
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
Wednesday, September 19, 2011
6:00 p.m.
The Industrial Development Authority of the City of Riverside, Missouri, met in regular session at City Hall,
2950 NW Vivion Road, Riverside, Missouri.
President Pam Darata called the meeting to order at 6:14 p.m. Answering roll call were Pam Darata, Wayne
Snyder, Harold Snoderley and Cy Houston. Member Leland Finley was absent. Also present: Nancy Thompson,
City Attorney and Sarah Wagner Community Development.
Approval of Minutes from
August 16, 2011
Resolution 2011-007:
A resolution electing the
Officers of the Industrial
Development Authority of the
City of Riverside, Missouri.
Resolution 2011-008:
A resolution granting and
approving the execution of a
Proxy for Annual Meeting of
landowners of the Riverside
Quindaro-Bend Levee District
of Platte County, Missouri
and actions related thereto
Resolution 2011-009:
A resolution approving and
authorizing execution of an
agreement with Briarcliff
Realty for the construction of
certain public improvments
on property owned by the
Wayne Snyder moved to approve the minutes from August 16, 201 1.
Cy Houston seconded and the motion passed 4-0.
Nancy Thompson introduced Resolution 2011-007: A resolution electing
the Officers of the Industrial Development Authority of the City of
Riverside, Missouri.
Wayne Snyder recommended that the slate of officers remans as:
President- Pam Darata
Vice President- Leland Finley
Treasurer- Cy Houston
Secretary- Harold Snoderley
Assistant Secretary- Sarah Wagner
Harold Snoderley moved to approve Resolution 2011-007, seconded by
Wayne Snyder. The motion passed 4-0.
Nancy Thompson presented Resolution 2011-008: A resolution granting
and approving the execution of a Proxy for Annual Meeting of
landowners of the Riverside Quindaro-Bend Levee District of Platte
County, Missouri and actions related thereto
Wayne Snyder made a motion to approve Resolution 2011-008 and Cy
Houston seconded. The motion passed 4-0.
Nancy Thompson presented Resolution 2001-009: A resolution approving
and authorizing execution of an agreement with Briarcliff Realty for the
construction of certain public improvments on property owned by the
Industrial Development Authority of the City of Riverside, Missouri and
actions related thereto.
Nethaniel Hagedorn and Chris Williams with Briarcliff gave a
Industrial Development
Authority of the City of
Riverside, Missouri and
actions related thereto.
Adjournment
presentation to the IDA members of the development plans to this area.
Cy Houston moved to approve Resolution 2011-009, seconded by Wayne
Snyder. The motion passes 4-0.
Wayne Snyder moved to adjourn the meeting, seconded by Cy Houston.
The motion passed 4-0 and the meeting was adjourned at 6:42 p.m.
IDA Resolution 2011-010
IDA
RESOLUTION NO. 2011-010
A RESOLUTION AUTHORIZING THE SALE AND TRANSFER OF CERTAIN
PRPERTY TO THE CITY OF RIVERSIDE, MISSOURI; DIRECTING UMB BANK,
AS TRUSTEE, TO RELEASE SUCH PROPERTY FROM THE DEED OF TRUST;
AND AUTHORIZING OTHER ACTIONS IN CONNECTION THEREWITH.
Pursuant to the provisions of Chapter 349, RSMo., as amended, the Board of Directors
of The Industrial Development Authority of the City of Riverside, Missouri (the "IDA"), hereby
adopt this Resolution and direct that this Resolution be filed with the official IDA minutes:
WHEREAS, the 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 of Riverside, Missouri ("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 Agreement"); and
WHEREAS, the Financing Agreement requires that IDA, upon direction of the City,
transfer and sell the Mortgaged Property (as defined in the Financing Agreement), in whole or in
part, in one or more transactions; and
WHEREAS, the IDA has an interest in the Mortgaged Property legally described in
Exhibit A attached hereto; not
WHEREAS, the City has, pursuant to Resolution R-2011-010, a copy of which is
presented with this Resolution and is on file with the Secretary, directed the IDA to convey its
interest in that certain portion of the Mortgaged Property, the legal description of such portion
being attached as Exhibit A (the "Property"), to the City upon compliance with the terms and
conditions of the Financing Agreement;
NOW THEREFORE, BE IT RESOLVED, by the Board of Directors of the Industrial
Development Authority of the City of Riverside, Missouri as follows:
Section 1. The IDA's conveyance of all right, title and interest in the Property to the City
at the price of $.50 per square foot is hereby approved. There are 420,354 +/- square feet
within the Property making the purchase price of the Property $210,177 (the "Sales Price").
Section 2. The Special Warranty Deed conveying all right, title and interest of the IDA in
the Property is hereby approved in substantially the form attached as Exhibit B and the
President and Vice President are hereby authorized to enter into, execute and deliver and the
Secretary and the Assistant Secretary are hereby authorized to attest, such document with such
changes therein as shall be approved by the official of the IDA executing such document, such
official's signature thereon being conclusive evidence of his approval and the IDA's approval
thereof.
IDA Resolution 2011-010
Section 3. The Quit Claim Deed relinquishing any right, title and interest of the IDA in
Lot 1 of Argo Innovation Park is hereby approved in substantially the form as Exhibit C and the
President and Vice President are hereby authorized to enter into, execute and deliver and the
Secretary and the Assistant Secretary are hereby authorized to attest, such document with such
changes therein as shall be approved by the official of the IDA executing such document, such
official's signature thereon being conclusive evidence of his approval and the IDA's approval
thereof.
Section 4. The IDA hereby requests and directs that UMB Bank, as Trustee, upon
receipt of the sales price cause the release of the Property from the lien of the Deed of Trust.
Section 5. The President, Vice -President, Secretary, Assistant Secretary and other
appropriate officers and agents of the IDA are hereby authorized to take such further actions
and execute such other documents as may be necessary or desirable to carry out and comply
with the intent of this Resolution.
Section 5. The Resolution shall be in full force and effect from and after its adoption.
ADOPTED THIS DAY OF , 2011.
This Resolution was adopted at the meeting of the Board of Directors of the IDA duly
called and held this date.
Pamela J. Darata, President
(SEAL)
ATTEST:
Secretary
IDA Resolution 2011-010
EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
THE WEST 9.65 ACRES OF LOT 1, ARGO INNOVATION PARK, RIVERSIDE, PLATTE COUNTY, MISSOURI, DESCRIBED AS
FOLLOWS:
ALL THAT PART OF LOT 3, PLAT OF THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS", DECEASED, LYING
NORTH OF THE FOLLOWING DESCRIBED TRACT: A TRACT OF LAND LYING IN LOT 3, PLAT OF THE PARTITION OF
THE "ESTATE OF GEORGE ROBERTS"-DECEASED, A SUBDIVISION OF LAND IN THE CITY OF RIVERSIDE, PLATTE
COUNTY, MISSOURI, ACCORDING TO THE RECORDED PLAT THEREOF, AND LOCATED IN THE SOUTHEAST QUARTER
OF FRACTIONAL SECTION 6, TOWNSHIP 50 NORTH, RANGE 33 WEST, BEARINGS ARE REFERENCED TO GRID NORTH
OF THE MISSOURI STATE PLANE COORDINATE SYSTEM, 1983, WEST ZONE, AND BEING MORE PARTICULARLY
DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF SAID SOUTHEAST QUARTER OF
FRACTIONAL SECTION 6, T5ON, R33W, BEING A FOUND #6 IRON BAR IN MONUMENT BOX, PER CERTIFIED LAND
CORNER DOCUMENT NUMBER 600-61555; THENCE N89°23'44"W ALONG THE SOUTH LINE OF SAID SOUTHEAST
QUARTER, A DISTANCE OF 1584.16 FEET TO THE SOUTHWEST CORNER OF SAID LOT 3, PLAT OF THE PARTITION OF
THE "ESTATE OF GEORGE ROBERTS"-DECEASED; THENCE N00°16'14"E ALONG THE WEST LINE OF SAID LOT 3, PLAT
OF THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED, A DISTANCE OF 777.66 FEET TO THE POINT
OF BEGINNING; THENCE CONTINUING N00°16'14"E ALONG SAID WEST LINE OF LOT 3, A DISTANCE OF 1210.00
FEET; THENCE S89°23'44"E, A DISTANCE OF 531.76 FEET TO A POINT ON THE EAST LINE OF SAID LOT 3, PLAT OF
THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED; THENCE S00°22'50"W ALONG SAID EAST LINE
OF LOT 3, A DISTANCE OF 1209.99 FEET; THENCE N89°23'44"W, A DISTANCE OF 529.44 FEET TO THE POINT OF
BEGINNING. EXCEPT ALL THAT PART OF THE WEST 20.00 FEET, AS MEASURED AT RIGHT ANGLES TO THE WEST
LINE OF LOT 3, PLAT OF THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED, OF THE ABOVE
DESCRIBED TRACT, TO BE USED FOR ROADWAY PURPOSES. SUBJECT TO ALL EASEMENTS AND RESTRICTIONS OF
RECORD.
IDA Resolution 2011-010
EXHIBIT B
FORM OF CONVEYANCE
SPECIAL WARRANTY DEED
THIS INDENTURE is made as of , 2011 by The INDUSTRIAL
DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI, a public corporation
organized and existing under the laws of the State of Missouri, as grantor ("Grantor"), with a
mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150 to CITY OF RIVERSIDE,
MISSOURI, a fourth class city organized and existing under the laws of the state of Missouri, as
grantor ("Grantor"), with mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150.
WITNESSETH: THAT GRANTOR, in consideration of the sum of TEN AND NO/100
DOLLARS ($10.00) and other valuable consideration to it in hand paid by Grantee (the receipt
of which is hereby acknowledged) does by these presents, BARGAIN and SELL, CONVEY and
CONFIRM unto 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:
THE WEST 9.65 ACRES OF LOT 1, ARGO INNOVATION PARK, RIVERSIDE, PLATTE COUNTY,
MISSOURI, DESCRIBED AS FOLLOWS:
ALL THAT PART OF LOT 3, PLAT OF THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS",
DECEASED, LYING NORTH OF THE FOLLOWING DESCRIBED TRACT: A TRACT OF LAND LYING IN
LOT 3, PLAT OF THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED, A
SUBDIVISION OF LAND IN THE CITY OF RIVERSIDE, PLATTE COUNTY, MISSOURI, ACCORDING TO
THE RECORDED PLAT THEREOF, AND LOCATED IN THE SOUTHEAST QUARTER OF FRACTIONAL
SECTION 6, TOWNSHIP 50 NORTH, RANGE 33 WEST, BEARINGS ARE REFERENCED TO GRID
NORTH OF THE MISSOURI STATE PLANE COORDINATE SYSTEM, 1983, WEST ZONE, AND BEING
MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF
SAID SOUTHEAST QUARTER OF FRACTIONAL SECTION 6, T5ON, R33W, BEING A FOUND #6 IRON
BAR IN MONUMENT BOX, PER CERTIFIED LAND CORNER DOCUMENT NUMBER 600-61555;
THENCE N89°23'44"W ALONG THE SOUTH LINE OF SAID SOUTHEAST QUARTER, A DISTANCE OF
1584.16 FEET TO THE SOUTHWEST CORNER OF SAID LOT 3, PLAT OF THE PARTITION OF THE
"ESTATE OF GEORGE ROBERTS"-DECEASED; THENCE N00°16'14"E ALONG THE WEST LINE OF
SAID LOT 3, PLAT OF THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED, A
DISTANCE OF 777.66 FEET TO THE POINT OF BEGINNING; THENCE CONTINUING N00°16'14"E
ALONG SAID WEST LINE OF LOT 3, A DISTANCE OF 1210.00 FEET; THENCE S89°23'44"E, A
DISTANCE OF 531.76 FEET TO A POINT ON THE EAST LINE OF SAID LOT 3, PLAT OF THE
PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED; THENCE S00°22'50"W ALONG
SAID EAST LINE OF LOT 3, A DISTANCE OF 1209.99 FEET; THENCE N89°23'44"W, A DISTANCE OF
529.44 FEET TO THE POINT OF BEGINNING. EXCEPT ALL THAT PART OF THE WEST 20.00 FEET, AS
MEASURED AT RIGHT ANGLES TO THE WEST LINE OF LOT 3, PLAT OF THE PARTITION OF THE
"ESTATE OF GEORGE ROBERTS"-DECEASED, OF THE ABOVE DESCRIBED TRACT, TO BE USED FOR
ROADWAY PURPOSES. SUBJECT TO ALL EASEMENTS AND RESTRICTIONS OF RECORD.
IDA Resolution 2011-010
TO HAVE AND TO HOLD the premises aforesaid, with all and singular the rights
privileges, appurtenances and immunities thereto belonging or in anywise appertaining unto
Grantee and unto its successors and assigns forever, Grantor hereby covenanting that it is
lawfully seized of an indefeasible estate in fee of the premises herein conveyed; that it has good
right to convey the same; that said premises are free and clear from any encumbrance (except
as referenced above) done or suffered by it; and that it will warrant and defend the title to said
premises unto Grantee and unto its successors and assigns forever, against the lawful claims
and demands of all persons whomsoever claiming under it except as above stated.
IN WITNESS WHEREOF, Grantor has caused these presents to be signed as of the day
and year first above written.
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
By:
Pamela J. Darata, President
ATTEST:
By:
Sarah Wagner, Secretary
ACKNOWLEDGEMENT
STATE OF MISSOURI )
SS
COUNTY OF PLATTE )
ON THIS day of , 2011, before me, the undersigned, a
Notary Public in and for said County and state, personally appeared Pamela J. Darata, to me
personally known, who being by me duly sworn, did say that she is the President 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.
Notary Public Signature
(Seal)
Printed or Typed Name
My Commission Expires:
IDA Resolution 2011-010
EXHIBIT C
FORM OF CONVEYANCE
QUIT CLAIM DEED
THIS INDENTURE, effective as of the day of , 2011, by and
between THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE,
MISSOURI, a public corporation organized and existing under the laws of the State of Missouri,
Grantor, party of the first part, and THE CITY OF RIVERSIDE, MISSOURI, a fourth class city
organized and existing under the laws of the State of Missouri, Grantee, party of the second part
(mailing address of Grantee: 2950 NW Vivion Road, Riverside, Missouri 64150).
WITNESSETH, that the party of the first part, in consideration of the sum of TEN AND
NO/100 DOLLARS ($10.00), and other good and valuable consideration to it paid by the party of
the second part, the receipt and sufficiency of which is hereby acknowledged, does by these
presents REMISE, RELEASE, and FOREVER QUIT CLAIM unto the party of the second part,
the following described lots, tracts, or parcels of land lying, being, and situated in the County of
Platte, and State of Missouri to -wit:
All of Lot 1, Argo Innovation Park, a subdivision in the City of Riverside, Platte
County, Missouri, subject to all easements and restrictions of record
together with the any improvements constructed or located thereon.
TO HAVE AND TO HOLD THE SAME, with all the rights, immunities, privileges, and
appurtenances thereto belonging, unto the party of the second part and unto its heirs and
assigns forever; so that neither the party of the first part nor its heirs or assigns, nor any other
person or persons, for whom or in whose name or behalf, will hereinafter claim or demand any
right or title to the described premises or any part thereof, but they and each of them shall, by
these presents, be excluded and forever barred.
IN WITNESS WHEREOF, The party of the first part has caused these presents to be signed
as of the day and year first above written.
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
By:
Pamela J. Darata, President
ATTEST:
By:
Sarah Wagner, Asst. Secretary
ACKNOWLEDGEMENT
STATE OF MISSOURI
SS
COUNTY OF PLATTE
IDA Resolution 2011-010
ON THIS day of , 2011, before me, the undersigned, a Notary
Public in and for said County and state, personally appeared Pamela J. Darata to me
personally known, who being by me duly sworn, did say that she is the President 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.
Notary Public Signature
My Commission Expires:
Grantor:
The Industrial Development Authority of the City of
Riverside, Missouri
2950 NW Vivion Road, Riverside, MO 64150
Grantee:
The City of Riverside, Missouri
2950 NW Vivion Road, Riverside, MO 64150
QUITCLAIM DEED
THIS INDENTURE, effective as of the day of , 2011, by and
between THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE,
MISSOURI, a public corporation organized and existing under the laws of the State of Missouri,
Grantor, party of the first part, and THE CITY OF RIVERSIDE, MISSOURI, a fourth class city
organized and existing under the laws of the State of Missouri, Grantee, party of the second part
(mailing address of Grantee: 2950 NW Vivion Road, Riverside, Missouri 64150).
WITNESSETH, that the party of the first part, in consideration of the sum of TEN AND
NO/100 DOLLARS ($10.00), and other good and valuable consideration to it paid by the party of
the second part, the receipt and sufficiency of which is hereby acknowledged, does by these
presents REMISE, RELEASE, and FOREVER QUIT CLAIM unto the party of the second part,
the following described lots, tracts, or parcels of land lying, being, and situated in the County of
Platte, and State of Missouri to -wit:
All of Lot 1, Argo Innovation Park, a subdivision in the City of Riverside, Platte
County, Missouri, subject to all easements and restrictions of record
together with the any improvements constructed or located thereon.
TO HAVE AND TO HOLD THE SAME, with all the rights, immunities, privileges, and
appurtenances thereto belonging, unto the party of the second part and unto its heirs and
assigns forever; so that neither the party of the first part nor its heirs or assigns, nor any other
person or persons, for whom or in whose name or behalf, will hereinafter claim or demand any
right or title to the described premises or any part thereof, but they and each of them shall, by
these presents, be excluded and forever barred.
IN WITNESS WHEREOF, The party of the first part has caused these presents to be signed
as of the day and year first above written.
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
By:
Pamela J. Darata, President
ATTEST:
By:
Sarah Wagner, Asst. Secretary
ACKNOWLEDGEMENT
STATE OF MISSOURI )
SS
COUNTY OF PLATTE )
ON THIS day of , 2011, before me, the undersigned, a Notary
Public in and for said County and state, personally appeared Pamela J. Darata to me
personally known, who being by me duly sworn, did say that she is the President 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.
Notary Public Signature
My Commission Expires:
Grantor:
The Industrial Development Authority of the City of
Riverside, Missouri
2950 NW Vivion Road, Riverside, MO 64150
Grantee:
The City of Riverside, Missouri
2950 NW Vivion Road, Riverside, MO 64150
SPECIAL WARRANTY DEED
THIS INDENTURE is made as of , 2011 by The INDUSTRIAL
DEVELOPMENT AUTHORITY OF THE CITY OF RIVERSIDE, MISSOURI, a public corporation
organized and existing under the laws of the State of Missouri, as grantor ("Grantor"), with a
mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150 to CITY OF RIVERSIDE,
MISSOURI, a fourth class city organized and existing under the laws of the state of Missouri, as
grantor ("Grantor"), with mailing address of 2950 NW Vivion Road, Riverside, Missouri 64150.
WITNESSETH: THAT GRANTOR, in consideration of the sum of TEN AND NO/100
DOLLARS ($10.00) and other valuable consideration to it in hand paid by Grantee (the receipt
of which is hereby acknowledged) does by these presents, BARGAIN and SELL, CONVEY and
CONFIRM unto 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:
THE WEST 9.65 +/- ACRES OF LOT 1, ARGO INNOVATION PARK, RIVERSIDE, PLATTE COUNTY,
MISSOURI, DESCRIBED AS FOLLOWS:
ALL THAT PART OF LOT 3, PLAT OF THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS",
DECEASED, LYING NORTH OF THE FOLLOWING DESCRIBED TRACT: A TRACT OF LAND LYING IN
LOT 3, PLAT OF THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED, A
SUBDIVISION OF LAND IN THE CITY OF RIVERSIDE, PLATTE COUNTY, MISSOURI, ACCORDING TO
THE RECORDED PLAT THEREOF, AND LOCATED IN THE SOUTHEAST QUARTER OF FRACTIONAL
SECTION 6, TOWNSHIP 50 NORTH, RANGE 33 WEST, BEARINGS ARE REFERENCED TO GRID
NORTH OF THE MISSOURI STATE PLANE COORDINATE SYSTEM, 1983, WEST ZONE, AND BEING
MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF
SAID SOUTHEAST QUARTER OF FRACTIONAL SECTION 6, T5ON, R33W, BEING A FOUND #6 IRON
BAR IN MONUMENT BOX, PER CERTIFIED LAND CORNER DOCUMENT NUMBER 600-61555;
THENCE N89°23'44"W ALONG THE SOUTH LINE OF SAID SOUTHEAST QUARTER, A DISTANCE OF
1584.16 FEET TO THE SOUTHWEST CORNER OF SAID LOT 3, PLAT OF THE PARTITION OF THE
"ESTATE OF GEORGE ROBERTS"-DECEASED; THENCE N00°16'14"E ALONG THE WEST LINE OF
SAID LOT 3, PLAT OF THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED, A
DISTANCE OF 777.66 FEET TO THE POINT OF BEGINNING; THENCE CONTINUING N00°16'14"E
ALONG SAID WEST LINE OF LOT 3, A DISTANCE OF 1210.00 FEET; THENCE S89°23'44"E, A
DISTANCE OF 531.76 FEET TO A POINT ON THE EAST LINE OF SAID LOT 3, PLAT OF THE
PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED; THENCE S00°22'50"W ALONG
SAID EAST LINE OF LOT 3, A DISTANCE OF 1209.99 FEET; THENCE N89°23'44"W, A DISTANCE OF
529.44 FEET TO THE POINT OF BEGINNING. EXCEPT ALL THAT PART OF THE WEST 20.00 FEET, AS
MEASURED AT RIGHT ANGLES TO THE WEST LINE OF LOT 3, PLAT OF THE PARTITION OF THE
"ESTATE OF GEORGE ROBERTS"-DECEASED, OF THE ABOVE DESCRIBED TRACT, TO BE USED FOR
ROADWAY PURPOSES. SUBJECT TO ALL EASEMENTS AND RESTRICTIONS OF RECORD.
TO HAVE AND TO HOLD the premises aforesaid, with all and singular the rights
privileges, appurtenances and immunities thereto belonging or in anywise appertaining unto
Grantee and unto its successors and assigns forever, Grantor hereby covenanting that it is
lawfully seized of an indefeasible estate in fee of the premises herein conveyed; that it has good
right to convey the same; that said premises are free and clear from any encumbrance (except
as referenced above) done or suffered by it; and that it will warrant and defend the title to said
premises unto Grantee and unto its successors and assigns forever, against the lawful claims
and demands of all persons whomsoever claiming under it except as above stated.
IN WITNESS WHEREOF, Grantor has caused these presents to be signed as of the day
and year first above written.
ATTEST:
By:
Sarah Wagner, Secretary
STATE OF MISSOURI
SS
COUNTY OF PLATTE
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
By:
Pamela J. Darata, President
ACKNOWLEDGEMENT
ON THIS day of , 2011, before me, the undersigned, a
Notary Public in and for said County and state, personally appeared Pamela J. Darata, to me
personally known, who being by me duly sworn, did say that she is the President 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.
Notary Public Signature
(Seal)
Printed or Typed Name
My Commission Expires:
Title of Document: PARTIAL RELEASE
Date of Document: November , 2011
Grantor:
Grantee:
UMB BANK, N.A.
1010 Grand Blvd., 4th Floor
Kansas City, Missouri, 64106
THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF
RIVERSIDE, MISSOURI
2950 NW Vivion
Riverside, Missouri 64150
and
THE CITY OF RIVERSIDE, MISSOURI
2950 NW Vivion Road
Riverside, Missouri 64150
Legal: Part of Lot 1, Argo Innovation Park - See Exhibit A
Reference:
BK1103PG315
BK1111PG854
Return Recorded Document to:
Nancy Thompson
2950 NW Vivion Rd
Riverside, MO 64150
BK1103PG316
BK1111PG853
PARTIAL RELEASE
The City of Riverside, Missouri
and
The Industrial Development Authority of the City of Riverside, Missouri
THIS PARTIAL RELEASE is executed on the day of November, 2011 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.,
4th 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, whose address is 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, Riverside, Missouri 64150, ("Mortgagor") and the.
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 Corporation Agreement dated May 1, 2007 between The
Industrial Development Authority of the City of Riverside, Missouri and UMB,
N.A.; recorded May 9, 2007 in Book 1103 a Page 315 in the office of the
Recorder of Deeds, Platte County, Missouri ("Financing Agreement").
(ii) A Deed of Trust and Security Agreement, granting a deed of trust lien on the
Property described therein, ("Mortgaged Property") to secure the payment of
the Series 2007 Bonds, and any other amounts or obligations secured thereby,
dated May 1, 2007, and recorded May 9, 2007 in Book 1103 at Page 316 in the
office of the Recorder of Deeds, Platte County, Missouri ("Mortgage").
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 sell to the City 420,354 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 Special Warranty Deed, has sold and
transferred all right, title and interest in the Released Property to the City.
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E. The City has pad to Mortgagee the sales price of $.50 per square feet for the
Released Property.
F. Pursuant to Section 6.5 of the Financing Agreement, it is necessary that the
Mortgagee release its lien with respect to the Released Property.
AGREEMENT
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:
1. Mortgagee does hereby release its lien on the Released Property, the legal
description of which is described on Exhibit A. This is a partial release of only the Released
Property and shall not affect the remaining Mortgaged Property or the indebtedness thereof on
the Mortgage or Financing Agreement.
2. Notwithstanding the release of the lien on the Released Property, the Mortgage,
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 indemnities and other obligations under the Mortgage 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 Mortgage 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 portions(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
By
Name: Brent W. Keep
Title: Vice -President
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ACKNOWLEDGEMENT
STATE OF MISSOURI
}
} SS.
COUNTY OF JACKSON }
On this, the day of November 2011, before me, the undersigned, a Notary Public
appeared Brent W. Keep, who being before me duly sworn did say that he 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.
My commission expires:
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Notary Public
Exhibit A
Legal Description of Released Property
THE WEST 9.65 ACRES OF LOT 1, ARGO INNOVATION PARK, RIVERSIDE, PLATTE COUNTY, MISSOURI,
DESCRIBED AS FOLLOWS:
ALL THAT PART OF LOT 3, PLAT OF THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS", DECEASED,
LYING NORTH OF THE FOLLOWING DESCRIBED TRACT: A TRACT OF LAND LYING IN LOT 3, PLAT OF THE
PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED, A SUBDIVISION OF LAND IN THE CITY OF
RIVERSIDE, PLATTE COUNTY, MISSOURI, ACCORDING TO THE RECORDED PLAT THEREOF, AND LOCATED
IN THE SOUTHEAST QUARTER OF FRACTIONAL SECTION 6, TOWNSHIP 50 NORTH, RANGE 33 WEST,
BEARINGS ARE REFERENCED TO GRID NORTH OF THE MISSOURI STATE PLANE COORDINATE SYSTEM,
1983, WEST ZONE, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE
SOUTHEAST CORNER OF SAID SOUTHEAST QUARTER OF FRACTIONAL SECTION 6, T50N, R33W, BEING A
FOUND #6 IRON BAR IN MONUMENT BOX, PER CERTIFIED LAND CORNER DOCUMENT NUMBER 600-
61555; THENCE N89°23'44"W ALONG THE SOUTH LINE OF SAID SOUTHEAST QUARTER, A DISTANCE OF
1584.16 FEET TO THE SOUTHWEST CORNER OF SAID LOT 3, PLAT OF THE PARTITION OF THE "ESTATE OF
GEORGE ROBERTS"-DECEASED; THENCE N00°16'14"E ALONG THE WEST LINE OF SAID LOT 3, PLAT OF
THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED, A DISTANCE OF 777.66 FEET TO THE
POINT OF BEGINNING; THENCE CONTINUING N00°16'14"E ALONG SAID WEST LINE OF LOT 3, A
DISTANCE OF 1210.00 FEET; THENCE S89°23'44"E, A DISTANCE OF 531.76 FEET TO A POINT ON THE EAST
LINE OF SAID LOT 3, PLAT OF THE PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED;
THENCE S00°22'50"W ALONG SAID EAST LINE OF LOT 3, A DISTANCE OF 1209.99 FEET; THENCE
N89°23'44"W, A DISTANCE OF 529.44 FEET TO THE POINT OF BEGINNING. EXCEPT ALL THAT PART OF
THE WEST 20.00 FEET, AS MEASURED AT RIGHT ANGLES TO THE WEST LINE OF LOT 3, PLAT OF THE
PARTITION OF THE "ESTATE OF GEORGE ROBERTS"-DECEASED, OF THE ABOVE DESCRIBED TRACT, TO BE
USED FOR ROADWAY PURPOSES. SUBJECT TO ALL EASEMENTS AND RESTRICTIONS OF RECORD.
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