HomeMy WebLinkAboutHarger Road 1180 - Transferee Assumption Agreement (Exhibit E to Ordinance) - SIGNED - 202511I1,II111II 7�j�i7'+gl)li
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ELIZABETH M. CHAPLI14
RECORDER
DUPAGE COUNTY, IL
05/0812025 01:59 PM
DOC NO. R2025-026686
PAGES: 6
(Above Space For Recorder's Office Only)
VILLAGE OF OAK BROOK
1200 Oak Brook Road
Oak Brook, IL 60523-2255
RECORDED DOCUMENT TITLE PAGE
Property Address/es 1180 Hanger Road, Oak Brook, Illinois 60523
If vacant land, so state and list nearest cross streets)
PIN No(s).
Name and Address of Applicant: Day & Robert, P.C.
Attn: Scott Day
300 E 5'h Avenue #365
Naperville. IL 60563
Name and Address of Responsible:
Party to Receive Copy of Same as above
Recorded Document and Billing
G/L Account to be charged: 10-2306 Escrow Account for Kids Urgent Care
Prepared By and Return to: Village of Oak Brook
1200 Oak Brook Road
Oak Brook, Illinois 60523-2255
Name & Address of Recipient
of Consideration (when applic
G/L Account to be charged:_
f
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TRANSFEREE ASSUMPTION AGREEMENT
THIS TRANSFEREE ASSUMPTION AGREEMENT, made as of this 18i° day of April, 2025,
by, between and among FRANKLIN 1900 SPRING ROAD LOT 1, LLC, an Illinois limited liability
company ("Owner"); AHAD PROPERTIES LLC, a Delaware limited liability company, doing business as
KIDS Development Corporation ("Transferee," as assignee of KIDS URGENT CARE LTD, a Delaware
corporation, d/b/a KIDS Development Corporation); and the VILLAGE OF OAK BROOK, an Illinois
municipal corporation ("Village").
WITNESSETH:
WHEREAS, pursuant to that certain Agreement for Purchase of Real Estate dated May 22, 2024,
as amended ("Real Estate Purchase Agreement"), the Transferee agreed to purchase from the Owner
certain real property situated in DuPage County, Illinois and legally described in Exhibit A attached hereto
and by this reference incorporated herein and made a part hereof ("Property"); and
WHEREAS, following the conveyance of the Property by the Owner, the Transferee wiI I be the
legal owner of the Property; and
WHEREAS, as a condition to the conveyance of the Property by the Owner, the Owner and the
Village require that the Transferee agree to comply with all the terms, requirements and obligations set
forth in Village of Oak Brook Ordinance 2024-ZO-PUD-EX-S-1707, approved by the Village on or about
September 24, 2024, and recorded in the Office of the DuPage County Recorder on November 20, 2024, as
Document No. 20240009, by and between the Village and Owner, as amended from time to time ("Planned
Development Ordinance");
NOW, THEREFORE, in consideration of the agreement of the Owner to convey the Property to
the Transferee and of the Village to accept the transfer of obligations as provided herein and to grant the
releases granted herein, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, it is hereby agreed by, between and among the Village, the Owner, and the
Transferee as follows:
1. Recitals. The foregoing recitals are by this reference incorporated herein and made a part
hereof as substantive provisions of this Agreement.
2. Assumption of Obligations. The Transferee, on its behalf and on behalf of its successors,
assigns, heirs, executors and administrators, hereby agrees, at its sole cost and expense, to comply with all
of the terms, requirements and obligations of the Planned Development Ordinance, including all exhibits
and attachments thereto.
3. Assurances of Financial Ability. Contemporaneously with the Transferee's execution of
this Agreement, the Transferee shall, upon the request of the Village, provide the Village with reasonable
assurances of financial ability to meet the obligations assumed hereunder as the Village may reasonably
require.
4. Acknowledgement and Release of Transferor. The Village hereby acknowledges its
agreement to the Transferee's assumption of the obligation to comply with the terms, requirements and
obligations of the Planned Development Ordinance, including all exhibits and attachments thereto, and the
Village hereby releases the Owner from any and all liability for failure to comply with the terms,
requirements and obligations of the Redevelopment Agreement.
LP 24439605 2 \ 3 1946-139566
IN WITNESS WHEREOF, the parties hereto have caused this Transferee Assumption Agreement
to be executed as of the day and year first written above.
OWNER:
FRANKLIN 1900 SPRING ROAD LOT 1, LLC,
an Illinois limited liability company
By:
Name: Raymon tler—
Its: Authorized Signatory
STATE OF ILLINOIS )
) SS.
COUNTY OF b uTa q . )
The foregoing instrument was acknowledged before me on Ner I I I , 2025, by
Raymond A. Warner, the Authorized Signatory of FRANKLIN 1900 SPRING ROAD LOT 1, LLC, an
Illinois limited liability company, as his free and voluntary act in his authorized capacity of said company
for the uses and purposes herein.
OFFICIAL SEAL Signature of Notary
BERNADETTE N RODEGHERO
NOTARY PUBLIC, STATE OF ILLINOIS
MY COMMISSION EXPIRES: 0311712027
SEAL
My Commission expires:
[Signatures continue on next page]
VILLAGE:
ATTEST: VILLAGE OF OAK BROOK,
an Illinois municipal corporation
B, : l�i, By:
Its: IiS r�a� Its: —
STATE OF ILLINOIS )
SS.
COUNTY OF DUP0�
This instrument was acknoa
Illinois muticipal corporation, and by
municipal corporation.
SEAL
before me on Ap Ir t I ' a , 2025, by
1, tite-Pre9tilertE-of OF OAK BROOK, an
,��n���Jte, theAVillage Clerk of said
L-?OtI
Official -Seal
CONNIE REIO
Notary Public, State of Illinois
`-'trp rtAJ`
Signature of Notary
Commission No. 895691
My Commission Expires June 7, 2027
My Commission expires:
LD 1 "1 1 a.D8'1
[Signatures continue on next page]
TRANSFEREE:
AHAD PROPERTIES LLC,
a Delaware limited liability company
doing business as KIDS Development Corporation
By:
Name: A ullah
Its President
STATE OF ILLINOIS )
SS.
COUNTY OF ILLINOIS )
The foregoing instrument was acknowledged before me on April 6 2025, by Lubna Abdullah,
the President of AHAD PROPERTIES LLC, a Delaware limited liability company, doing business as
KIDS Development Corporation as his/her free and voluntary act in his/her authorized capacity of said
company for the uses and purposes herein.
Official Seal
DESIREE M PERALTA Signature of Notary
Notary Public, State of IlliL14,
Commission No, 904891
SEAL My Commission Expires Decembe27
My Commission expires:
-- i0iIq 0'-0a-a-
EXHIBIT A
LEGAL DESCRIPTION
LOT 1 IN THE FINAL PLAT OF F'RANKLIN SUBDIVISION, BEING A RESUBDIVISION OF LOT 1
IN FIRST FEDERAL RESUBDIVISION OF LOTS 1 AND 2 IN OAKBROOK HOTEL CO'S
RESUBDIVISION IN SECTION 23, TOWNSHIP 39 NORTH, RANGE 11, EAST OF THE THIRD
PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED APRIL 27, 2018 AS
DOCUMENT NO. R2018-036669, IN DUPAGE COUNTY, ILLINOIS.
Common Address: 1 180 HARGER ROAD, OAK BROOK, ILLINOIS 60523
Pl N (s): 06-23-302-004
A-1