7/25/2011 11:16:48 AM
7/25/2011 11:16:47 AM
City of Clive
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• • <br /> RESOLUTION NO. <br /> RESOLUTION APPROVING ESTOPPEL <br /> CERTIFICATE AND LETTER AGREEMENT WITH <br /> MID - AMERICA INVESTMENT CO. <br /> WHEREAS, Mid - America Investment Co. has requested the City of <br /> Clive, Iowa to execute the attached Estoppel Certificate relating <br /> to the status of certain liens of record held by the City of <br /> Clive, Iowa and indicating that such liens have been satisfied by <br /> Mid - America Investment Co. with respect to the property described <br /> on Exhibit A to the Estoppel Certificate; and <br /> WHEREAS, the City has reviewed said Estoppel Certificate and <br /> believes everything contained therein to be true and correct, <br /> except that Mid - America has not yet satisfied its obligation under <br /> the Agreement re Sewer Treatment Plant referred to in paragraph 1 <br /> of said certificate; and <br /> WHEREAS, the attached letter agreement between the City of <br /> Clive and Mid - America Investment Co. has been prepared by which <br /> Mid - America's obligations under the Agreement re Sewer Treatment <br /> Plant with respect to this property shall be satisfied through <br /> payment of $104,500 into a special escrow account as provided in <br /> the letter agreement. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br /> CITY OF CLIVE, IOWA: <br /> That the Estoppel Certificate and the Letter Agree- <br /> ment with Mid - America Investment Co., copies of which <br /> are attached hereto, and by this reference incorporated <br /> herein, be and are hereby approved and accepted by the <br /> City of Clive, Iowa; and the Mayor is hereby authorized <br /> and directed to execute said Estoppel Certificate and <br /> Letter Agreement on behalf of the City of Clive, Iowa; <br /> and the City Clerk is hereby authorized and directed to <br /> attest to the signature of the Mayor, and to affix the <br /> seal of the City to the same. <br /> PASSED AND APPROVED THIS O1 day of `: , 1991. <br /> Mt <br /> By: IAN <br /> 0. %.ene a• MO a' <br /> ATTEST: <br /> I fr <br /> By: / /..1 . • / _. . .I <br /> Marjorie t.. Robe s, City C erk <br /> ( c : \jcw \clive \resolu \midamer.est] <br />
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