Lighthouse Properties III, Inc. Memorandum of Agreement 111111111111I IIII11111111lIIIII1Mu lI0I IIIIIIIIII1111I1111I11QIIIOIIIIIIIIIIIIII
REBECCA SEEMAN
'• C+,•REGISTER OF DEEDS SALINE COUNTY KANSAS
i:' , :-)Book:1350 Page: 1630-1634
Receipt #: 120449 Recording Fee: 589.00
Pages Recorded: 5 (AI
Date Recorded: 12/14/2018 9:28:27 AM
RECORDING REQUESTED BY AND
WHEN RECORDED RETURN TO:
Greg A. Bengtson, Esq.
Clark, Mize & Linville Chartered
129 S. 8th St.
Salina, KS 67402-0380
MEMORANDUM OF AGREEMENT
THIS MEMORANDUM OF AGREEMENT is made and entered into as of
January 12 , 2018, by and between the CITY OF SALINA, KANSAS (the "City"), a municipal
corporation duly organized and existing under the laws of the State of Kansas and
LIGHTHOUSE PROPERTIES III, INC., a Kansas corporation ("Transferee") (collectively,
the "Parties" and each a "Party").
RECITALS:
A. The Transferee is the owner of certain real property which is located in the City as
legally described on Exhibit A as attached hereto (the"Project Site").
B. Pursuant to that certain Transferee Agreement dated as of January 12, 2018
(the "Transferee Agreement"), a copy of which is on file with the City Clerk, Transferee has
agreed to redevelop the Project Site into a hotel and related facilities as a more particularly set
forth in Exhibit A to the Transferee Agreement (the "Project").
C. The redevelopment, construction, completion and operation of the Project, as well
as the financing of the Project through STAR bond financing, tax increment financing,
community improvement district financing, and through provision of City Funds are governed
and controlled by the Transferee Agreement.
D. All capitalized terms which are used but not defined in this Memorandum shall
have the respective meanings set forth in the Transferee Agreement.
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Book 1350 Page: 1631
E. The parties hereto agree and desire to record this Memorandum in order to give
notice of terms and provisions of the Transferee Agreement, each and all of which are
incorporated herein by reference.
NOW THEREFORE, in consideration of the foregoing recitals, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged:
1. The City and Transferee do now make and enter into this Memorandum and
record the same in order that notice be given of the terms, provisions, restrictions and other
agreement of the Transferee Agreement, each and all of which are incorporated herein by
reference.
2. During the Term of the Transferee Agreement, this Memorandum and the
Transferee Agreement shall be binding on and inure to the benefit of the Parties hereto and their
respective successors and assigns.
3. The Transferee Agreement may be executed simultaneously in several
counterparts, each of which shall be deemed to be an original, but all of which together shall
constitute one and the same instrument. In the event of any conflict between the Transferee
Agreement and this Memorandum, the Transferee Agreement shall control.
[Remainder of Page Intentionally Left Blank]
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IN WITNESS WHEREOF, the City and Transferee have duly executed this Agreement
pursuant to all requisite authorizations as of the date first above written.
CITY OF SALINA, KANSAS
Karl F. Ryan, Mayor
[SEAL]
•
ATTEST: I'
.hdi: Nin
Shandi Wicks, CMC, City Clerk
APPROVED AS TO FORM:
G A. :Gii. son, City Attorney
STATE OF KANSAS ) •
) ss.
COUNTY OF SALINE )
On this Sit' day of 1191-1 , 2018, Karl F. Ryan, personally known to
me and after first being sworn did state that e/she is the Mayor of the City of Salina, State of
Kansas, and that the seal affixed to the foregoing instrument is the official Seal of the City of
Salina, and that said instrument was signed and sealed on behalf of the City, and that the matters
set forth herein are true and correct to the best of his/her and the City's knowledge, information
and belief, and acknowledge that he executed the same on behalf of the City as its free act and
deed.
- I IO
Shandi L. Wicks
Notary Public jai SHANDI L. WICKS
Notary Public- State of Kansas
My ADDt E'D res ti17--,
My Commission Expires:
Memorandum of Transferee Agreement—Salina,KS—Hotel—2018
61764208.1
Book 1350 Page: 1633
IN WITNESS WHEREOF, the City and Transferee have duly executed this Agreement
pursuant to all requisite authorizations as of the date first above written.
TRANSFEREE:
LIGHTHOUSE PROPERTIES III, Inc.
By: - _ ci..9
Printed Name: Trace E. Walker
Title: President
Date: January 23. 2018
STATE OF KANSAS )
) ss.
COUNTY OF SALINE )
On this 23rd day of January, 2018, before me personally appeared Trace E. Walker, to
me personally known, who being by me duly sworn did say that he is the President of Lighthouse
Properties III, Inc., a Kansas Corporation, and that said instrument was signed and delivered on
behalf of said corporation and acknowledged to me that he executed the same as the free act and
deed of said corporation.
In Testimony Whereof, I have hereunto set my hand and affixed my official seal the day
and year first above written.
Notary Public
Printed Name: Andra Kay Erdner
My Commission Expires:
February 4, 2019 44 ANDRA KAY ERDNER
May Pubk-Sated Kansa
►y Appt Expires Z_,.4,jplq
Memorandum of Transferee Agreement—Salina.KS—Hotel—2018
61764208.1
Book 1350 Page: 1634
EXHIBIT A
PROJECT SITE
LEGAL DESCRIPTION
PROPERTY DESCRIPTION: (HOTEL SITE)
THE SOUTH 28 FEET OF LOT 163 AND ALL OF LOTS 165 AND 167 ON SANTA FE
AVENUE, ANp-THE SOUTH HALF OF LOT 160; AND ALL OF LOTS 162; 164, 166 AND
168 ON 5TH STREET, AND ALL OF THE VACATED ALLEY ABUTTING SAID LOTS,
ALL IN THE ORIGINAL TOWN (NOW CITY) OF SALINtA, SALINE COUNTY; KANSAS.
AND
PROPERTY DESCRIPTION: (PARKING LOT SITE)
ALL OF LOTS 158 AND THE NORTH HALF OF LOT 160 ON 5TH STREET, AND THE
EAST HALF OF THE VACATED ALLEY ABUTTING SAID LOTS; AND ALL OF LOTS
163, 165, AND THE \VEST 73 FEET OF LOT 167 ON 5111 STREET, AND ALL OF LOTS
162, 164, 166 AND THE WEST 40 FEET OF LOT 168 ON 4TH STREET, AND ALL OF THE
VACATED ALLEY ABUTTING SAID LOTS 163, 165; 167 ON 5111 ST) AND SAID
LOTS 164, 166, AND 168 ON 4T1L,STREET; AND ALL OF LOT 169 AND THE NORTH
HALF OF LOT 171 ON 5TH STREET; ALL IN THE ORIGINAL TOWN (NOW CITY) OF
SALNA, SALINE COUNTY. KANSAS.
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