14-7118 KASA Industrial Controls IRB Release of LeasesM
RESOLUTION NUMBER 14-7118
A RESOLUTION AUTHORIZING THE CONFIRMATION OF THE RELEASE OF
INDUSTRIAL REVENUE BOND LEASES INVOLVING PROPERTY CURRENTLY
OWNED BY KASA INDUSTRIAL CONTROLS, INC. AND AUTHORIZING THE
MAYOR'S SIGNATURE ON THE RELEASE OF LEASES.
WHEREAS, the City of Salina, Kansas issued Industrial Revenue Bonds for the
purpose of financing improvements at 304 E. Avenue B and 418 E. Avenue B; and
WHEREAS, the Industrial Revenue Bonds have been paid off, and all of the
developers' responsibilities under the associated leases have been fulfilled, SO NOW,
THEREFORE,
BE IT RESOLVED by the Governing Body of the City of Salina, Kansas, that:
Section 1. The Mayor is hereby authorized to execute a Release of Leases,
substantially in the form attached hereto as Exhibit A, releasing the leases previously
securing the payment of the Industrial Revenue Bonds.
Section 2. The City Clerk is hereby directed to deliver the original Release of
Leases to Land Title Services, Inc. for recording.
Section 3. This resolution shall be in full force and effect from and after its
adoption.
Adopted by the Board of Commissioners 777-
Aaron
4`h day of
July, 2014.
K. Householter, Mayor
(SEAL)
ATTEST:
Shandi Wicks, CMC, City Clerk
RELEASE OF LEASES
WHEREAS, the City of Salina, Kansas (the "Issuer") has heretofore entered into the
following:
Lease dated as of October 1, 1978, between the Issuer and KASA Industrial Controls, Inc.,
a Kansas corporation (the "Tenant"), notice of which is recorded in book 119 at pages 99-
100 in the office of the Saline County Register of Deeds,
o as superseded by the Lease dated as of March 1, 1991 between the Issuer and the
Tenant, notice of which is recorded in Book 149 at pages 515-517 in the office of
the Saline County Register of Deeds,
o as released by the Issuer and First National Bank and Trust (a/k/a Sunflower Bank,
N.A.) in the Release of Lease dated as of April 24, 2000, which is recorded in book
173 at pages 443-446 in the office of the Saline County Register of Deeds,
o as amended and restated by the Amended and Restated Lease dated as of April 15,
2000, between the Issuer and the Tenant, notice of which is recorded in book 173 at
pages 447-448 in the office of the Saline County Register of Deeds,
o as assigned by the Assignment of Amended and Restated Lease dated as of April
24, 2000, by the Issuer to Sunflower Bank, N.A., as Trustee, which assignment is
recorded in book 173 at pages 449-452 in the office of the Saline County Register
of Deeds,
o as assigned by the Collateral Assignment of Lease dated as of April 1, 2000, by the
Tenant to Sunflower Bank, N.A., which assignment is recorded in book 173 at
pages 675-679 in the office of the Saline County Register of Deeds,
o as discharged by the Discharge of Collateral Assignment of Lease dated as of April
7, 2014, by Sunflower Bank, N.A., which discharge is recorded in book 1280 at
pages 1-2 in the office of the Saline County Register of Deeds;
Lease dated as of April 1, 1986, between the Issuer and E1Dorado Motor Corporation,
notice of which is recorded in book 136 at pages 862-864 in the office of the Saline County
Register of Deeds,
o as assigned by the Assignment of Lease dated as of April 29, 1986, by the Issuer to
Southwest National Bank of Wichita, which assignment is recorded in book 136 at
pages 865-868 in the office of the Saline County Register of Deeds,
o as assigned by the Assignment dated as of September 8, 1988, by ElDorado Motor
Corporation to EBC, Inc., which assignment is recorded in book 142 at pages 930-
931 in the office of the Saline County Register of Deeds,
o as released by the Special Warranty Deed dated as of October 31, 1988, by the
Issuer to EBC, Inc., which deed is recorded in book 351 at pages 484-485 in the
office of the Saline County Register of Deeds;
• Lease dated as of June 15, 2002, between the Issuer and the Tenant, notice of which is
recorded in book 1015 at pages 513-514 in the office of the Saline County Register of
Deeds,
o as assigned by the Assignment of Lease dated as of June 17, 2002, by the Issuer to
Sunflower Bank, N.A., which assignment is recorded in book 1015 at pages 515-
518 in the office of the Saline County Register of Deeds,
o as amended and restated by the Supplemental Lease No. 1 dated as of March 15,
2007, between the Issuer and the Tenant, notice of which is recorded in book 1148
at pages 256-257 in the office of the Saline County Register of Deeds,
o as assigned by the Assignment of Supplemental Lease dated as of March 26, 2007,
by the Issuer to Sunflower Bank, N.A., which assignment is recorded in book 1148
at pages 258-260 in the office of the Saline County Register of Deeds,
o as assigned by the Collateral Assignment of Lease dated as of March 26, 2007, by
the Tenant to Sunflower Bank, N.A., which assignment is recorded in book 1148 at
pages 261-265 in the office of the Saline County Register of Deeds,
o as released by the Special Warranty Deed dated as of August 26, 2013, by the
Issuer to Tenant, which deed is recorded in book 1271 at pages 1228-1231 in the
office of the Saline County Register of Deeds,
o as released by the Issuer and Sunflower Bank, N.A., in the Release of Lease dated
as of August 26, 2013, which is recorded in book 1271 at pages 1232-1233 in the
office of the Saline County Register of Deeds,
(collectively, the "Leases")
WHEREAS, all of the Tenant's obligations to the Issuer under the Leases have been
satisfied;
THEREFORE, the property described in the attached Schedule I is hereby released from
any claim of the Issuer under the Leases.
DATED this day of July, 2014
CITY OF SALIVA, KANSAS
By:
Aaron K. Householter, Mayor
ATTEST:
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Shandi Wicks, CMC, City Clerk
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STATE OF KANSAS, COUNTY OF SALINE, ss:
This instrument was acknowledged before me on July , 2014, by Aaron K.
Householter, as Mayor and Shandi Wicks, CMC, as City Clerk of the City of Salina, Kansas.
My appointment expires:
Notary Public
SCHEDULEI
PROPERTY SUBJECT TO LEASE
The following described real estate located in Saline County, Kansas:
The South Half (S/2) of Lot Two (2), all of Lot Three (3) except the East Nineteen
feet (E 19') of the North Half (N/2) thereof, and the East Fifty feet (E 50') of Lot
Four (4), all in Block Two (2) of the South Industrial Area, being located in the
South Half of the Northwest Quarter (S/2NW/4) of Section One (1), Township
Fifteen (15) South, Range Three (3) West of the 6`h P.M., in Saline County, Kansas,
together with a perpetual non-exclusive easement on and over the East Nineteen
Feet (E 19') of the North Half (N/2) of said Lot Three (3) for use as a roadway and
for use in connection with the construction, maintenance, repair, removal or
replacement of improvements on the adjoining real estate, and with the right to fill,
slope or grade the land subject to such easement from time to time to an evaluation
or height not greater than that of the real estate otherwise described herein;
The West Ten Feet (W 10') of the South Ninety -Five Feet (S 95') of the East
Nineteen Feet (E 19) of the North Half (N/2) of Lot Three (3), in Block Two (2) of
Industrial Area, being a part of the South Half of the Northwest Quarter (S/2 NW/4)
of Section One (1), Township Fifteen (15) South, Range Three (3) West of the
Sixth Principal Meridian, in Saline County, Kansas;
The West Five Feet (W 5') of the East Fifty -Five Feet (E 55') of the North One
Hundred Sixty -Five Feet (N 165') of Lot Four (4), in Block Two (2) ofIndustrial
Area, being a part of the South Half of the Northwest Quarter (S/2 NW/4) of
Section One (1), Township Fifteen (15) South, Range Three (3) West of the Sixth
Principal Meridian, in Saline County, Kansas; j
The West Ten Feet (W 10) of the East Nineteen Feet (E 19) of the North Half
(N/2), except the South Ninety -Five Feet (S 95') thereof, of Lot Three (3), in Block
Two (2) of Industrial Area, being a part of the South Half of the Northwest Quarter
(S/2 NW/4) of Section One (1), Township Fifteen (15) South, Range Three (3)
West of the Sixth Principal Meridian, in Saline County, Kansas;
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Lots Twenty-one (21) through Thirty (30), Block Two (2) of South Industrial Area
in Saline County, Kansas, EXCEPT the East Thirty -Two Feet (E 32') of said Lot
Thirty (30).
said real property constituting the "Land" as referred to in said Lease.
All buildings, improvements, machinery and equipment now or hereafter constructed, located or
installed on the Land pursuant to said Leases.
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