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HomeMy WebLinkAbout8.1 A RESOLUTION IN SUPPORT OF GKI INDUSTRIAL CHICAGO LLC’S APPLICATION FOR A RENEWAL OF THEIR COOK COUNTY CLASS 6B TAX INCENTIVE FOR THE PROPERTY LOCATED AT 1500 BISHOP COURT.Mr�GauC �'d'+rt;�iect Subject• • SUPPORT THEIRCHICAGO LLC'S APPLICATION FOR A RENEWAL OF COOK COUNTY: TAX INCENTIVE FOR THE PROPERTY LOCATED AT 1500 BISHOP COURT. Meeting Fiscal Impact Dollar Amount Budget Source Category Type Information September 20, 2022 - REGULAR MEETING OF THE MOUNT PROSPECT VILLAGE BOARD - false 101ATITM:11R)401 X Discussion Item GKI Industrial Chicago LLC (Applicant) is seeking support for adoption of a resolution that would grant approval of a renewal of a Class 6b property tax incentive for their property located at 1500 Bishop Court. The renewal would be for an additional 12 years and would enable them to maintain their current tenant, Atlas Material (Atlas) at this location. The Village originally granted the 6b incentive in 2014. The Village has granted several Cook County Class 6b tax incentives to attract and retain businesses. The 6b incentive reduces the assessment level for qualified manufacturing and warehouse/distribution facilities from 25% to 10% for the first 10 years, 15% for year 11 and 20% in year 12. After year 12, the assessment level returns to the full 25% for the benefitting property. The 6b incentive can also be renewed for additional 12 -year terms if supported by the Village. The Subject Property consists of an approximately 75,000 square foot building located on a 204,290 square foot site. The facility features two (2) interior docks, one (1) drive-in door, 20' clear height, and approximately 200 car parking spots. The Applicant leases the entire building to Atlas who utilize the facility for durability testing for a variety of different markets. Their lease is up at the end of 2022 and will be unable to resign without the assistance from the renewal. Atlas assembles all its equipment at the Subject Property. Parts and components are assembled to a frame for each unit, and once assembled; the unit is tested and verified to meet requirements. Once testing is completed, the unit is packaged and shipped to end clients. 1 Assuming the renewal is granted, the Applicant has bids for approximately $500,000 in additional building improvements/renovations. Atlas currently employs 83 AMTEK employees, with approximately 50 new employees expected to be hired (with priority given to qualified Village residents) once the improvements and renovations are complete. The Applicant is requesting the Class 6b abatement to maintain their taxes at around $1.50 per square foot for their property. If the extension is not granted, they estimate that their tax bill would rise to $3.50 per square foot. Similar properties in nearby Lake and DuPage County range from $1 to $1.50 per square foot. Alternatives 1. Approve the resolution in support of GKI Industrial Chicago LLC's application for the renewal of their Cook County Class 6b tax incentive for the property located at 1500 Bishop Court. 2. Discretion of the Village Board. Staff Recommendation Staff recommends that the Village Board approve the resolution in support of GKI Industrial Chicago LLC's application for the renewal of their Cook County Class 6b tax incentive for the property located at 1500 Bishop Court. ATTACHMENTS: 1500 Bishop Ct - 6b renewal resolution.pdf 1500_Bishop_6b_Renewal_Packet_8.25.22_. pdf 2 RESOLUTION NO. A RESOLUTION IN SUPPORT OF GKI INDUSTRIAL CHICAGO LLC'S APPLICATION FOR A RENEWAL OF THEIR COOK COUNTY CLASS 6B TAX INCENTIVE FOR THE PROPERTY LOCATED AT 1500 BISHOP CT., MOUNT PROSPECT, ILLINOIS WHEREAS, the Village of Mount Prospect encourages community development to provide for economic growth and career opportunities; and WHEREAS, through property tax incentives offered by Cook County, various opportunities exist for industrial properties in the Village of Mount Prospect, Cook County; and WHEREAS, without the Cook County property tax incentives, the Village of Mount Prospect is at a competitive disadvantage with the neighboring counties of Lake and DuPage in attracting industrial development; and WHEREAS, GKI Industrial Chicago LLC has requested the Village of Mount Prospect support its application for renewal of the Class 6B Real Property Classification at 1500 Bishop Ct., Mount Prospect, Cook County (Property); and WHEREAS, the corporate authorities of the Village of Mount Prospect believe that their request is in the best interest of the economic development in the Village of Mount Prospect. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: That the Mayor and Board of Trustees of the Village of Mount Prospect do hereby support and consent to the application for the Class 6B Renewal of a property tax reduction from 25% to 10% for years 1 through 10, 15% in year 11, and 20% in year 12 from Cook County for the Property located at 1500 Bishop Court and legally described as: LOT 804-A IN KENSINGTON CENTER -RESUBDIVISION TWENTY THREE, IN PART OF THE NORTHEAST 1/4 OF SECTION 35, TOWNSHIP 42 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO PLAT THEREOF FILED ON JULY 18, 1998 AS LR3724251, IN COOK COUNTY, ILLINOIS. PIN: 03-35-200-045-0000 SECTION TWO: That the Village of Mount Prospect supports industrial growth, increased employment and economic development and the "property" is in furtherance of this goal. SECTION THREE: That this Resolution shall be in full force and effect from and KI after its passage and approval in the manner provided by law. AYES: NAYS: ABSENT: PASSED and APPROVED this 20th day of September 2022. Paul Wm. Hoefert Mayor Karen M. Agoranos Village Clerk 4 THE LAW OFFICES OF LISrrOX & TSANTILIS A PROFESSIONAL CORPORATION 33 NORTH LASALLE STREET, 28TH FLOOR CHICAGO, ILLINOIS 60602 BRIAN P. LISTON (312) 580-1594 PETER TSANTILIS (312) 604-3808 FACSIMILE (312) 580-1592 August 19, 2022 VIA MAIL & EMAIL Bill Cooney Village of Mount Prospect 50 S. Emerson Mount Prospect, Illinois 60056 RE: 1500 Bishop — 6b Renewal Request GKI Industrial Chicago, LLC 1500 Bishop Court, Mount Prospect, Illinois PIN: 03-35-200-045-0000 Dear Bill: GKI Industrial Chicago, LLC (the "Applicant") is the owner of the property located at 1500 Bishop Court, Mount Prospect, IL (PIN: 03-35-200-045-0000) (the "Subject Property"). The Applicant hereby requests a Renewal Resolution supporting and consenting to a Class 6b Incentive Renewal for the aforementioned Subject Property. The renewal was initially activated in 2014, and thus 2023 represents the I Orh year of the incentive. The Subject Property consists of an approximately 75,000 square foot building located on a 204,290 square foot site. The facility features two (2) interior docks, one (1) drive-in door, 20' clear height, and approximately 200 car parking spots. The Applicant leases the entire building to Atlas Material Testing, LLC (the "Occupant" or "Atlas"), who utilize the facility for durability testing for a variety of different markets. The Occupant's lease is up at the end of 2022 and will be unable to resign without the assistance from the renewal. Atlas assembles all its equipment at the Subject Property. Parts and components are assembled to a frame for each unit, and once assembled, the unit is tested and verified to meet requirements. Once testing is completed the unit is packaged and shipped to end clients. Atlas had its roots in Chicago in the early 1900's as the manufacturer of Solar -Lite carbon arc lighting used in photography studios and for exposing lithographic printing plates. However, in the 1910's the electric light bulb started to replace carbon arc lamps for studio photography. Simultaneously, the Blockade of Europe beginning in 1914 choked the global supply of German aniline synthetic textile dyes, forcing the return to natural dyestuffs. In 1915 Atlas introduced the first lightfastness testing device, the Solar Determinator, and forever altered the direction of the company. Renamed and marketed as the Atlas Color Fade-Ometer in 1919, the product was enhanced and the Atlas Weather-Ometer was introduced in 1927. In 1954, Hereaus in Germany introduced the XENOTEST 150, the first xenon -arc lamp -based instrument which was truly a game changer in the industry. In outdoor testing, the benchmark South Florida Test Service opened in 1931, and Desert Sun Exposure Testing (DSET) Laboratories started in 1948 outside of Phoenix, Arizona. Atlas acquired SFTS in 1934 and DSET in 1994. DSET invented outdoor accelerated weathering exposure with the creation of the EMMA device in 1960 and continues to innovate with cutting edge technologies. Atlas has also created the Worldwide Exposure Network of approximately 25 global exposure sites to facilitate client testing. Atlas operates two commercial artificial weathering test laboratories, one at corporate headquarters outside of 5 Chicago, and at our European headquarters near Frankfurt, Germany. In addition to lightfastness and weathering instruments, Atlas also produces corrosion and flammability testing instruments and provides client education and technical consulting services worldwide. For much of its history Atlas Material Testing Technology LLC was privately owned by the Lane family. In 2007 it was acquired by Industrial Growth Partners and became in 2010 a business unit of AMETEK Measurement, Communications & Testing, a Division within AMETEK's Electronic Instruments Group. Atlas products are designed and manufactured to conform to international and industry standard test methods, including ISO, ASTM, DIN, JIS and numerous others. Markets include automotive, paint and coatings, plastics and additives, textiles, pharmaceutical and consumer products, architecture, aerospace, photovoltaics, and packaging. Since the Atlas took occupancy, over $1,500,000 in tax savings have been reinvested into additional improvements, renovations and equipment for the Subject Property. Assuming the renewal is granted, the Applicant has bids for approximately $500,00 in additional building improvements/renovations. Atlas currently employs 83 AMTEK employees, with approximately 50 new employees expected to be hired (with priority given to qualified Village residents) once the improvements and renovations are complete. The Subject Property is projected to have a market value of just over $4,500,000, which would generate an estimated $1,947,837 in total taxes over the life of the Class 6b Tax Incentive. Without the incentive renewal, the Applicant will not purchase the property and the and the property will receive significant vacancy relief from taxes. At full vacancy the Subject Property would have an estimated market value of $1,802,932 and generate only $1,734,231 over the life of the incentive. Therefore, should the Class 6b be approved, the Subject Property would generate an additional $213,606 in real estate taxes over the life of the Class 6b Tax Incentive Renewal. In addition to increased property tax revenues, the Occupant's continued presence in the Village significantly benefits the local community. Atlas has active customers who often visit the facility and surrounding establishments. These customers will stay in Village hotels, dine at Village restaurants and otherwise increase economic activity within Mount Prospect. Based on the enclosed Employee Impact Chart, the Occupant's proposed 133 full time employees generate an estimated $563,588 annually in local revenue, or over $6,500,000 during the life of the incentive. Without the renewal, the Applicant will not be able to maintain nor improve the property and will be unable to sign a lease extension. Based on the foregoing, the Applicant requests that the Village of Mount Prospect review its Class 6B Incentive Renewal request and approve a Renewal Resolution supporting and consenting to a Class 613 Incentive Renewal for the Subject Property. Should you need any additional documentation or have any questions or concerns, do not hesitate to contact me at (312) 604-3898. Regards, Mark Rogers C. COOK COUNTY ASSESSOR FRITZ KAEGI CD0p- 04 C4 COOK COUNTY ASSESSOR'S OFFICE ` 118 NORTH CLARK STREET, CHICAGO, IL 60602 s PHONE: 312.443.7550 FAx:312.603.6584 1 N WWW.COOKCOUNTYASSESSOR.COM CLASS 66/7/8 Control Number RENEWAL APPLICATION A certified copy of the resolution or ordinance obtained from the municipality in which the real estate is located, or from the Cook County Board of Commissioners if located in an unincorporated area, must accompany this Renewal Application. This application, resolution and a filing fee of $500.00 must be filed. For assistance in preparing this Renewal Application, please contact the Cook County Assessor's Office Development Incentives Department at (312) 603-7529. I. Identification of Applicant Name: GKI Industrial Chicago, LLC Telephone: ( 847 ) 306-6824 Address: 280 Park Avenue City, State: New York, NY Email Address: amoore@brennanllc.com Agent/Representative (if any) Name: Amanda Moore Zip Code: 10017 Telephone: ( 847 ) 306-6824 Address: 9450 W. Bryn Mawr, Suite 750 City, State: Rosemont, IL Email Address: amoore@brennanllc.com II. Description of Subject Property Street address: 1500 Bishop Court City, State: Mount Prospect, Illinois Permanent Real Estate Index Number (s): Township: Wheeling Zip Code: 60181 Zip Code: 60056 03-35-200-045-0000 7 III. Identification of Persons or Entities Having an Interest Attach a current and complete list of all owners, developers, occupants and other interested parties (including all beneficial owners of a land trust) identified by names and addresses, and the nature and extent of their interest. Attach legal description, site dimensions and square footage, and building dimensions and square footage. IV. Property Use Attach a current and detailed description of the precise nature and extent of the use of the subject property, specifying in the case of multiple uses the relative percentages of each use. If there have been any changes from the original application, include current copies of materials which explain each occupant's business, including corporate letterhead, brochures, advertising material, leases, photographs, etc. V. Nature of Development Indicate the nature of the original development receiving the Class 6B/7/8 designation [ ] New Construction [ ] Substantial Rehabilitation [ ] Occupation of Abandoned Property - No Special Circumstance [ ] Occupation of Abandoned Property - With Special Circumstance VI. Employment How many permanent full-time and part-time employees do you now employ? On -Site: Full-time: 64 Part-time: 0 In Cook County: Full-time: 64 Part-time: 0 VII. Local Approval A certified copy of a resolution or ordinance from the municipality in which the real estate is located (or the County Board, if the real estate is located in an unincorporated area) must accompany this renewal. The ordinance or resolution must expressly state that the municipality supports and consents to this Class 6B/7/8 Renewal and has determined that the industrial use of the property is necessary and beneficial to the local economy. 2 0 Amanda Moore the undersigned, certify that l have read this Renewal Application and that the statements set forth in this Renewal Application and in the attachments hereto are true and correct, except as those matters stated to be on information and belief and as to such matters the undersigned certifies that he/she believes the same to be true. 8/23/22 Signature Date Amanda Moore Print Name Senior Property Manager Title 3 02/10/2020 0 EDS AFFIDAVIT I Amanda Moore as agent for GKI Industrial Chicago LLC (the "Applicant") does hereby certify that it would attest to the following facts as required by Sections 74-46 and 74-62 through 74-73 of the Cook County Code if called to testify: 1. That I am a duly authorized agent for Applicant, who is the contract purchaser of the property located at located at 1500 Bishop Court, Mount Prospect, IL 60056 (PIN: 03-35-200-045-0000) (the "Subject Property"). 2. The Applicant holds title to the following properties in Cook County: 1000 Business Center Drive Mount Prospect, Illinois 60056 1050 Business Center Drive Mount Prospect, Illinois 60056 1441 Business Center Drive Mount Prospect, Illinois 60056 520 Business Center Drive Mount Prospect, Illinois 60056 3838 N River Road Schiller Park, Illinois 60176 55 Howard Avenue Des Plaines, Illinois 60018 2020 Parkes Drive Broadview, IL 60155 701 Lunt Ave. Elk Grove Village, IL 60007 1855 Greenleaf Ave. Elk Grove Village, IL 60007 1525 Chase Ave. Elk Grove Village, IL 60007 3. Applicant's ownership is as follows: IVC Industrial Acquisition Fund One, LLC — 6.53% IVC Promote K, LP - 46.97% IVC Promote G, LP — 46.50% 10 4. To my knowledge and after reviewing the Applicant's records, Applicant is not delinquent in the payment of any property taxes administered by Cook County or by a local municipality. Further Affiant Sayeth Not TIIA _ . Date: 8/23/22 Subscribed and sworn before me This 23rd day of August 2022 �iw FAVI �L LUINOIS RTINOTARY PU", STATE OF Signature of Notary Public I 11 Legal Description, Site and Building Square Footage Subject: 1500 Bishop Court, Mount Prospect, Illinois 60056 PINS: 03-35-200-045-0000 The Subject Property consists of an approximately 75,000 square foot building located on a 204,290 square foot site. The facility features two (2) interior docks, one (1) drive-in door, 20' clear height, and approximately 200 car parking spots. The Applicant leases the entire building to Atlas Material Testing, LLC (the "Occupant" or "Atlas"), who utilize the facility for durability testing for a variety of different markets. The Occupant's lease is up at the end of 2022 and will be unable to resign without the assistance from the renewal. Attached hereto please find: • Legal Description • Survey • Existing Floor Plans • Proposed New Floor Plans • Aerial of Subject Property • Street View 12 LEGAL DESCRIPTION REAL PROPERTY IN THE CITY OF MT. PROSPECT, COUNTY OF COOK, STATE OF ILLINOIS, DESCRIBED AS FOLLOWS: LOT 804-A IN KENSINGTON CENTER -RESUBDIVISION TWENTY THREE, IN PART OF THE NORTHEAST/40F SECTION 35, TOWNSHIP 42 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO PLAT THEREOF FILED ON JULY 18, 1998 AS LR3724251, IN COOK COUNTY, ILLINOIS. Common Address: 1500 Bishop Court, Mount Prospect, Illinois 60056 PIN: 03-35-200-045-0000 13 I \ lSuM ek4^dPMwM1N '4'M1Mvi�ip;5� L n (a'�n19olec m_95. ' I FT .nen "' IIISoK\I d3 pr I I �N ob=z YS Iii g9 IIIA i � II l i � oti 9 s a I \ lSuM ek4^dPMwM1N '4'M1Mvi�ip;5� L n (a'�n19olec m_95. ' I FT .nen "' IIISoK\I d3 pr I I �N ob=z Qty ID a.� y � O \ F h \ to h \ \ El � \ W m N 9 P� s v e wP� w r m @a 2 f a \ itis b m\ 0 �h - n xnoMUNEDM.9o751niaensaa Sb" �saoz �� I:��Fp+A\`„rrs r,IwaJmmmA 'm \ O� _O 1ffi1�JlID.LDlUSNn BDPWI Inrorew�a.rrmrv�wry -� vv A � z / o z U8 o ac�� C $ III YS Iii IIIA i II l i � oti Qty ID a.� y � O \ F h \ to h \ \ El � \ W m N 9 P� s v e wP� w r m @a 2 f a \ itis b m\ 0 �h - n xnoMUNEDM.9o751niaensaa Sb" �saoz �� I:��Fp+A\`„rrs r,IwaJmmmA 'm \ O� _O 1ffi1�JlID.LDlUSNn BDPWI Inrorew�a.rrmrv�wry -� vv A � z / o z U8 o ac�� C $ III X Eooa� 95009 T '10ldGOdd AnOW 1�in00 dOHSlB 0051 Sd'00�� aNZ ONV 1SI lVlldbd NO S]OI7d0 d0 9NII300W3N NOld'31NI �l7 ' 90lONH�31 �NIlS31 1d1�31dW Sd�ld Hd `3 O]o ') SIaHO X Eooa� 0 98 n 0 n _ - - - 95009 T '10ldGOdd AnOW 1�in00 dOHSlB 0051 Sd'00�� aNZ ONV 1SI lVlldbd NO S]OI7d0 d0 9NII300W3N NOld'31NI �l7 ' 9OlONH�31 �NIlS31 1d1�31dW Sd�ld Hd `3aa0a SIaHO n _ - - - LLI fli _ -- - -- m - - O - - _- - t_ a C) _ - - =�w °m � OQQO o LU w- _- - -Q,- LLI - - - -- -- LL 95009 T '10ldGOdd AnoW 1�in00 dOHSlB 0051 Sd'00�� aNZ ONV 1SI lVlldbd NO S]OIddO d0 9NII300W3N NOld'31NI �l7 ' 90lONH�31 �NIlS31 1d1�31dW Sd�ld Hd `3 O]o ') SIaHO LU w- _- - -Q,- LLI - - - -- -- LL z O u cn z ~ u7 o— O U N W C) (� C N C) o� o 0 m 0 - =o z O u cn z ~ u7 o— O U N W C) (� C N C) o� o 0 m 0 w—— LLI UP [L 1L Q �a o� 0 0 z 0 U zo oma° o� zo o�zw��no zo�aPo� Jw�JaJ�s aJp=£Voo a40UNO r �OKvim �Qnq<vmo I a Ownership/User Information Subject: 1500 Bishop Court, Mount Prospect, Illinois 60056 PINS: 03-35-200-045-0000 Ownership: GKI Industrial Chicago, LLC (the "Applicant") is the owner of the property located at 1500 Bishop Court, Mount Prospect, IL (PIN: 03-35- 200-045-0000) (the "Subject Property"). The Applicant's ownership is as follows: IVC Industrial Acquisition Fund One, LLC — 6.53% IVC Promote K, LP - 46.97% IVC Promote G, LP — 46.50% Occupant: The Subject Property consists of an approximately 75,000 square foot building located on a 204,290 square foot site. The facility features two (2) interior docks, one (1) drive-in door, 20' clear height, and approximately 200 car parking spots. The Applicant leases the entire building to Atlas Material Testing, LLC (the "Occupant" or "Atlas"), who utilize the facility for durability testing for a variety of different markets. The Occupant's lease is up at the end of 2022 and will be unable to resign without the assistance from the renewal. Atlas assembles all its equipment at the Subject Property. Parts and components are assembled to a frame for each unit, and once assembled, the unit is tested and verified to meet requirements. Once testing is completed the unit is packaged and shipped to end clients. 23 Delaware Page The First State I, JEFFREY W. BULLOCK, SECRETARY OF STATE OF THE STATE OF DELAWARE, DO HEREBY CERTIFY THE ATTACHED IS A TRUE AND CORRECT COPY OF THE CERTIFICATE OF FORMATION OF "GKI INDUSTRIAL CHICAGO, LLC", FILED IN THIS OFFICE ON THE TWENTY—FIRST DAY OF SEPTEMBER, A.D. 2021, AT 5:36 O'CLOCK P.M. 6252620 8100 SR# 20213306660 You may verify this certificate online at corp.delaware.gov/authver.shtml Authentication: 204217361 Date: 09-22-21 24 State of Delaware Secretary of State Division of CoiVorations Defivered 05:36 FNI 09/21/2021 FILED 05:36 PNM 09121/2021 SR 20213306660 - FlIeNumber 6252620 CERTIFICATE OF FORMATION 101i GKI INDUSTRIAL CHICAGO, LLC This Certificate of Formation of GKI INDUSTRIAL CHICAGO, LLC (the "LLC"), dated as of September 21, 2021, is being duly executed and filed by Michelle L. Kaler, as an authorized person, to form a limited liability company under the Delaware Limited Liability Company Act (6 Del. C. § 18-101, et seq). FIRST. The name of the limited liability company formed hereby is GKI INDUSTRIAL CHICAGO, LLC SECOND. The address of the registered office of the LLC in the State of Delaware is c/o Corporation Service Company, 251 Little Falls Drive, Wilmington, Delaware 19808. THIRD. The -name and address of the registered agent for service of process on the LLC in the State of Delaware is Corporation Service Company, 251 Little Falls Drive, Wilmington, Delaware 19808 FOURTH, The business address of the LLC is c/o Investcorp 280 Park Avenue, Floor 36, New York, New York 10017 IN WITNE S S WHEREOF, the undersigned has executed this Certificate of Formation as of the date first above written, /s/Michelle L. Kaler Name: Michelle L. Kaler Authorized Person 25 Industrial Use Subject: 1500 Bishop Court, Mount Prospect, Illinois 60056 PINS: 03-35-200-045-0000 The Subject Property consists of an approximately 75,000 square foot building located on a 204,290 square foot site. The facility features two (2) interior docks, one (1) drive-in door, 20' clear height, and approximately 200 car parking spots. The Applicant leases the entire building to Atlas Material Testing, LLC (the "Occupant" or "Atlas"), who utilize the facility for durability testing for a variety of different markets. The Occupant's lease is up at the end of 2022 and will be unable to resign without the assistance from the renewal. Atlas assembles all its equipment at the Subject Property. Parts and components are assembled to a frame for each unit, and once assembled, the unit is tested and verified to meet requirements. Once testing is completed the unit is packaged and shipped to end clients. Atlas had its roots in Chicago in the early 1900's as the manufacturer of Solar -Lite carbon arc lighting used in photography studios and for exposing lithographic printing plates. However, in the 1910's the electric light bulb started to replace carbon are lamps for studio photography. Simultaneously, the Blockade of Europe beginning in 1914 choked the global supply of German aniline synthetic textile dyes, forcing the return to natural dyestuffs. In 1915 Atlas introduced the first lightfastness testing device, the Solar Determinator, and forever altered the direction of the company. Renamed and marketed as the Atlas Color Fade-Ometer in 1919, the product was enhanced and the Atlas Weather-Ometer was introduced in 1927. In 1954, Hereaus in Germany introduced the XENOTEST 150, the first xenon -arc lamp -based instrument which was truly a game changer in the industry. In outdoor testing, the benchmark South Florida Test Service opened in 1931, and Desert Sun Exposure Testing (DSET) Laboratories started in 1948 outside of Phoenix, Arizona. Atlas acquired SFTS in 1934 and DSET in 1994. DSET invented outdoor accelerated weathering exposure with the creation of the EMMA device in 1960 and continues to innovate with cutting edge technologies. Atlas has also created the Worldwide Exposure Network of approximately 25 global exposure sites to facilitate client testing. Atlas operates two commercial artificial weathering test laboratories, one at corporate headquarters outside of Chicago, and at our European headquarters near Frankfurt, Germany. In addition to lightfastness and weathering instruments, Atlas also produces corrosion and flammability testing instruments and provides client education and technical consulting services worldwide. For much of its history Atlas Material Testing Technology LLC was privately owned by the Lane family. In 2007 it was acquired by Industrial Growth Partners and became in 2010 a business unit of AMETEK Measurement, Communications & Testing, a Division within AMETEK's Electronic Instruments Group. Atlas products are designed and manufactured to conform to international and industry standard test methods, including ISO, ASTM, DIN, JIS and numerous others. Markets include automotive, paint and coatings, plastics and additives, textiles, pharmaceutical and consumer products, architecture, aerospace, photovoltaics, and packaging. For more information on Atlas, please visit its website at: https://www.atlas-mts.com/ Employment & Property Improvements Subject: 1500 Bishop Court, Mount Prospect, Illinois 60056 PINs: 03-35-200-045-0000 Since the Atlas took occupancy, over $1,500,000 in tax savings have been reinvested into additional improvements, renovations and equipment for the Subject Property. Assuming the renewal is granted, the Applicant has bids for approximately $500,00 in additional building improvements/renovations. Atlas currently employs 83 AMTEK employees, with approximately 50 new employees expected to be hired (with priority given to qualified Village residents) once the improvements and renovations are complete. The Subject Property is projected to have a market value of just over $4,500,000, which would generate an estimated $1,947,837 in total taxes over the life of the Class 6b Tax Incentive. Without the incentive renewal, the Applicant will not purchase the property and the and the property will receive significant vacancy relief from taxes. At full vacancy the Subject Property would have an estimated market value of $1,802,932 and generate only $1,734,231 over the life of the incentive. Therefore, should the Class 6b be approved, the Subject Property would generate an additional $213,606 in real estate taxes over the life of the Class 6b Tax Incentive Renewal. In addition to increased property tax revenues, the Occupant's continued presence in the Village significantly benefits the local community. Atlas has active customers who often visit the facility and surrounding establishments. These customers will stay in Village hotels, dine at Village restaurants and otherwise increase economic activity within Mount Prospect. Based on the enclosed Employee Impact Chart, the Occupant's proposed 133 full time employees generate an estimated $563,588 annually in local revenue, or over $6,500,000 during the life of the incentive. 27 § M0 a-/\ §Ga ° %© f LU 0\o •§,R X526 %o_r 2/§9 ~ �/ )7 ] cl f ; ! \\ \ \ \ \ \ \ \ \zo \ k� ( \\ \\\ \ \ \ \ \ \ \ \ \ \ \ \ \ (+ E_G 9) . x �2 f k) / / / } \}�\ )7 ] k� \ \ \ \ \ \ \ \ \ \ \ } (+ E_G 9) . k) \\E .E �Ll New Employee Business Impact Chart Purchase Emp. % Exp./Week Weeks Total Lunch 133 55% $55 50 $201,163 Grocery 133 30% $50 50 $99,750 Consumer Goi 133 25% $35 50 $58,188 Entertainment 133 15% $55 50 $54,863 Auto -Gas 133 75% $30 50 $149,625 TOTAL (Per Year) $563,588 0 M FIRST AMENDMENT TO LEASE THIS FIRST' AMENDMENT T, LEASE (this "Amendment") is made as of the __ day of 2022 (the "Effective Date"), by and between CKf INDUSTRIAL CHICAGO, LLC, a Delaware limited liability company, successor in interest to Kensington Business Center Iloldings-1, LLC, a Delaware limited liability company ("Landlord"), and ATLAS MATERIAL TESTING TECHNOLOGY, L»L"C., a Delaware limited liability company ("Tenant"), with reference to the following facts and circumstances: A. Landlord, as landlord, and Tenant, a,s tenant, are parties to that certain Lease dated December 20, 2013 (the "Lease'"), whereby Landlord lease([ to Tenant certain premises consisfing of approximately 75,000 rentable square feet of space (the. "Premises"") in, tlae building located at 1500 Bishop Court, Mount Prospect, Illinois (the "Building"), B. Landlord and Tenant desire, among other things, to extend the `rein of the Lease oil the terms and conditions set forth herein, NOW, "I I-JER.EF(:)R.E, in consideration of the mutual promises and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and "Tenant agree as Billows: 1, Recitals,. I'lie recitals set ibrth above are incorporated herein by this reference with tlae same force and effect as if fully set forth hereinafter, 1 Extension of Teran, 'rhe Term of the Lease is hereby extended for an additional seven (7) years commencing on July 1, 2024 and expiring on June 30, 2031 (the ""Extension Term"'). All references in. the Lease or in this Amendment to (i) the "Lease" shall hereafter refer to the Lease, as amended hereby, (ii) the "Lease Terre" or the "Tenn" or the "Term of the Lease" shall refer to the Lease term., as extended by the Extension Term, and (iii) the "Expiration Date" shall refer to June 30, 203 1. 3, Base hent, Commencing on July 1, 2024, Tenant shall pay Base Rent according to the following schedule. Months of Term Base i3'errt Base hent � Base lent....... per annum) (per month) (per rentable square foot Per ararrrtua' _ Jul 1, 2024 --June 30, 2025_�� $513,750.00 $42,812,50 0 $6,85 ��Ju1�2025 —June 30, 202E $529,500,00 $44,1250 7.0E 02fi June 30� 2� J�rl 1., °� ��,...�. �,........a0�0C� ,.�....„,...�W. " «45,437,50 ._._....____ $7.27 ww Jtaly_1, 2037 _.June 30, 2028 $561,750,00 $46,812.50 " 7A9 _._ _... . July 1, 2028 .June 30, 2029 $578,250,00 $48,187.50 $7.71 July 1, 2(29 June 30, 2030 $595,500.00 $49,625.00 $7.94 girl)1, 2030 — June 30,, 2031 $613,500,00 $51,125,00 $8,18 4. Controllable ORerating Ex eases. Notwithstanding anything to the contrary contained in the Lease, as amended hereby, for purposes of calculating; Tenant's Percentage of Operating Expenses, Tenant's Percentage of "Controllable Expenses," as defined below, for calendar ;year 2024 and any subsequent: year of the Terre shall not exceed 105% per annum oil a cumulative a.nd compounding basis of Tenant's Percentage of Controllable Expenses over the (hien prior full calendar year, "Controllable T_ M Ex0enses" means Operating Expenses other than (i) insurance premiums, deductibles and other costs; (6) expenditures which are required by, or as a result of changes in, or changes in the interpretation. of, applicable law, rules or regulations; (iii) electricity, fuel, water, sewer, gas, heating and air conditioning and any other utilities, paid by Landlord; (iv') costs resulting from any Force Majeure event Or Circumstance; (v) Taxes, including, without limitation, federal, state, county, or local governmental or municipal taxes, fees, charges or other impositions of every kind and nature;. (Vi) Costs resulting from the matters of casualty or condemnation; (vii) wage increases due to collective bargaining agreements and/or increases in the minimum wage; (viii) capital expenditures to tile extent the same reduce or control increases in Operating Expenses; (ix) snow and ice removal and other weather-related costs; and (x) emergency repairs. 5. Class 6b Tax Incentive Pro rano. This A'm'endment and Tenant's performance hereunder is expressly made subject to and pre -conditioned upon Landlord becoming fully satisfied with its ability to obtain "Approval" (as defined below) t,"or the renewal of the Class 6b Property 'Fax Incentive for the Premises from tile Village of Mount Prospect (the "6b Approving Authorities") within one hundred twenty (120) days after the date (the "Submission Date") Landlord submits an application for said renewal to the 6b Approving Authorities (the "614 Contingency Period"). If the Landlord does not obtain Approval for renewal of the Class 6b Property "l"ax Incentive for the Premises from the 6b Approving Authorities within the 6b Contingency Period, Landlord shall notify Tenant within three (3) business days of receiving written notice from the 6b Approving Authorities that the Approval was not passed. Thereafter, Landlord and'fenant shall renegotiate in good faith the Base Rent payable by Tenant during the Extension Period. Landlord shall submit an application for renewal of the Class 6b Property Tax Incentive for the Premises to the 6b Approving Authorities not later than August 31, 2022. As used herein, tile term "Approval" shall mean a resolution passed and approved by the 6b Approving Authorities or a letter in lieu thereof issued by staff for the 6b Approving Authorities indicating that it is in favor of Landlord's application for the renewal of the Class 6b Property'fxx Incentive for the Premises as submitted. 6. Tenant Audit Rights ', The following paragraphs shall be added as (lie second and third paragraphs of Section 10 of tile Lease (Reconcil iati on): "Tenant may, within thirty (30) days after receiving Landlord's statement of Operating Expenses arid Taxes, give Landlord written notice ("Review Notice") that Tenant intends to review Landlord's records of Operating Expenses and Taxes for that calendar year (the "Audit"), Within a reasonable time after receipt of the Review'Notice, Landlord shall make available for inspection all pertinent records that are reasonably necessary for Tenant to conduct its review. If any records are maintained at a location other than an office at the Property, Tenant may either inspect the records at such other location or pay for the reasonable cost of copying and shipping the records. If Tenant retains an agent to review Landlord's records, the agent must be with a licensed certified public accountant and must not be paid on a contingency fee basis, Tenant solely shall be responsible for all costs, expenses and fees incurred in connection with the Audit ("Audit Costs"). Within thirty (30) days after the records are made available to,renant, Tenant shall have the right to give Landlord written notice (an "Objection Notice") stating in reasonable detail any objection to Landlord's statement of Operating Expenses and Taxes for that calendar year, If Tenant fails to give Landlord an Objection Notice within the thirty (30) day period or fails to provide Landlord with a Review Notice within the thirty (3 0) day period described above, "renant shall be deemed to have approved Landlord's statement of Operating Expenses and Taxes and shall be barred from raising any claims regarding Operating Expenses and Taxes for that year. if Tenant provides Landlord with a timely Objection Notice, Landlord and Tenant shall work together in good faith to resolve any issues raised in Tenant's Objection Notice. If Landlord and "Feriant determine that Operating Expenses and Taxes forthe calendar year are less than reported, Landlord shall provide Tenant Nvith a credit against the next installment of Rent in the amount of the overpayment by Tenant. Likewise, if Landlord and 1enant determine that Operating Expenses and Taxes for the N M calendar year are greater than reported, Tenant shall pay Landlord the amount of any underpayment within thirty (30) days. The records obtained by Tenant shall be treated as confidential. la no event shall Tenant be permitted to examine Landlord's records or to dispute any statement of Operating Expenses and Taxes unless Tenant has paid and continues to pay all Rent when due. Notwithstanding anything to the contrary contained in this section, if the Audit demonstrates to Landlord's reasonable satisfaction thatTenant's Percentage of Operating Expenses and Taxes for the calendar year originally reported by Landlord was overstated by five percent (5%) or more, Landlord shall be responsible for payment of Tenant's reasonable out-of.pocket Audit Costs tip to $2,500.00 in total." 7. Tenant Improvement Allowance. From and after the date that Landlord receives Approval for the renewal of the 6b Property Tax Incentive for the premises from the 6b Approving Authorities (the "6b Approval Date"), Landlord will pay 'Tenant tip to $300,000.00 ("Landlord's Contribution") toward the cost of the planning, design and installation in the Premises of the tenant improvements described on Exhibit A attached hereto and made a part hereof to be perfortned by the'Veriant and associated permit fees, architectural fees and other soft costs (the -renant Improvements"). Landlord's Contribution shall be payable solely on account of tabor directly related to the Tenant Improvements and materials delivered to the Premises in connection with the Tenant Improvements. All Tenant Improvements shall be deemed "Alterations," and all terms of Section 22 of the Lease shall apply to such Tenant Improvements, except as to payment which shall be as stated herein. Prior to making any 'tenant Improvements hereunder, Tenant shall (a) have appropriate insurance coverage, reasonably satisfactory to Landlord, (b) furnish Landlord with plans and specifications reasonably acceptable to Landlord (c) supply Landlord with names of licensed contractors reasonably acceptable to Landlord that "Feriant will use to complete the Tenant Improvements (provided that Landlord [nay designate specific contractors with respect to BUilding systems), and (d) promptly upon Landlord request, provide copies of all contracts; necessary permits and approvals, if required; and evidence of contractor's and subcontractor's insurance in amounts reasonably required by Landlord. Changes to the plans and specifications must also be submitted to Landlord for its approval. Tenant is responsible for ensuring that all proposed and final plans and specifications and the completed Tenant Improvements comply with all appliable laws, codes, ordinances, rules and regulations (collectively, "Laws") and the rules and regulations attached as Exhibit B attached to the Lease. Neither review nor approval by Landlord of the proposed or final plans and specifications shall constitute a representation or warranty by Landlord that such plans and specifications (i) are complete or suitable for their intended purpose, or (ii) comply with Laws, it being expressly agreed by Tenant that Landlord assumes no responsibility or liability whatsoever to Tenant or to any other person or entity, for such completeness, suitability or compliance. "Feriant must construct the Tenant Improvements in a good and workmanlike manner using materials of a quality that is at least equal to the quality designated by Landlord as the minimum standard for the Building. Upon completion of the Tenant Improvements, Tenant shall ftirnish Landlord with "as -built" plans, completion affidavits, full and final waivers of lien and reccipted bills covering all expenditures for labor and material with respect to the `I"enant Improvements and such other documents as Landlord may reasonably request. Provided that no uncured Event of Default is outstanding at the time of Tenant's request for a reimbursement for Tenant Improvements tinder this section, upon Landlord's receipt of the foregoing documents and upon Landlord's satisfactory inspection of the 'Tenant Improvements, Landlord promptly shall pay Landlord's Contribution to Tenant. Tenant shall not be entitled to receive any portion of Landlord's Contribution not actually expended in the performance ofthe Tenant Improvements, nor shall Tenant have any right to apply any unexpended portion of Landlord's Contribution as a credit against Rent or any other obligation of enant under the Lease, except as provided in the next sentence. Upon the earlier of- (a) the date the Tenant Improvements are completed and (b) one (1) year following the 6b Approval Date, any amount of Landlord's Contribution which has not been previously disbursed shall be credited against Rent next due. If the cost of the planning, design and construction ofthe Tenant Improvements exceeds the sura of Landlord's Contribution, the difference shall be borne by Tenant and paid when due. Tenant shall not be required to rernove the Tenant Improvements upon the expiration or earlier termination of the Lease, Section 22 of the Lease notwithstanding, 8. Backup Power Source. (a) Landlord grants toTenant the right to install, operate, maintain, repair and remove, at Tenant's sole cost and expense, (i) an uninterrupted power supply (UPS) system, or (H) one (1) backup generator, together with all related equipment as shall be reasonably necessary for the operation of the UPS system or generator, as applicable (the "Backup Power Source"), on a portion of the Property designated by Landlord in its reasonable discretion. (b) Before installing the Backup Power Source, Tenant shall provide Landlord with plans and specifications for the Backup Power Source, which shall be SLII� feCt to Landlord's approval, which approval Landlord shall not unreasonably withhold, condition or delay. Tenant shall secure all necessary permits and any other approvals of federal, state or local agencies or government authorities required for the installation, operation and maintenance of the Backup Power Source, shall provide copies ol'same to Landlord, and shall comply with all requirements of any Such agency or authority and all other legal requirements relating to the installation, operation and triaintenance of the Backup Power Source, including, but not limited to, screeningand noise requirements. Tenant shall provide [,,and lord copies of a] I installation specifications and drawings required for the securing of said permits, consents and approvals, (C) Tenant shall, at its sole cost, perform all work necessary to prepare that portion of tile Property on which the Backup Power Source will be located for the installation of the Backup Power Source and shall diligently service, maintain and repair the Backup Power Source and keep the Backup Power Source in good condition and repair and in. compliance with all Laws during the Term. Any damage to the Property caused by the installation, operation, maintenance, repair, existence or removal of the Backup Power Source shall be repaired by Tenant immediately. At the termination of the Isere e, as arnended hereby, by expiration of time or otherwise, "Feriant shall at Tenant's sole cost and expense, remove the Backup Power Source and restore the Property to its condition existing prior to the installation of tile Backup Power Source, ordinary wear and tear excepted. Notwithstanding anything contained herein, Tenant shall not remove, and shall not be reimbursed for the cost of, any ancillary equipment which is affixed to, embedded in or permanently attached in or to the Property, unless Landlord so directs otherwise. In the event Tenant fails to perform any repairs, removal or restoration with respect to the Backup Power Source and/or the Property, Landlord shall have the right to perform said repairs, removal or restoration, at Tenant's sole cost and expense, and such expense shall be paid byTenant promptly after demand. Tenant's use of the Backup Power Source may not cause unreasonable disruption to Or interference with other tenants at the Property or the use or enjoyment of their spaces. (d) Tenant shall be responsible, at its sole cost, for paying any utility costs in connection with the operation of the Backup Power Source as well as carrying liability insurance J`or claims in connection with the Backup Power Source, Tenant shall hold Landlord and its employees and Landlord's agents and their employees harmless and shall indemnify and defend Landlord and its employees and Landlord's agents and their employees from and against all loss, COSt, injury, claims, demands and expenses of every kind (including reasonable attorneys' fees) which arise from Tenant's exercise of the rights granted under this section or actions pursuant thereto or any breach by Tenant of its obligations under this section. Landlord and its officers, directors, shareholders, partners, members, managers, affiliates, agents and employees shall not be liable or responsible to Tenant for any loss or damage to the Backup Power Source or injury to person in connection with the Backup Power Source nor for any interference with Tenant's operation of the Backup Power Source caused by Landlord's maintenance or repair of any part of the Building or Property. (e) If at any time during the Terin Landlord, in its reasonable Judgment, $hall determine that it is necessary to relocate the Backup Power Source to another area, Landlord may give notice thereof to Tenant, which nota�ce shall have attached thereto a plan oil which such other area is identified and is reasonably acceptable to Tenant ("Substitute Space") and 17enant shall be required to move tile Backup Power Source to the Substitute Space, at Landlord's sole cost. 9, Options to Extend. "file two options to extend for five (5) years each in Section 3.2 of tile Lease shall remain infull force and effect, Notwithstanding any provision of Section 3.2 ofthe Lease to the contrary, an assignee ofthe Lease may exercise the options to extend provided in said Section 3,2 M Perinitted Transfer to Wholly -Owned Subsidiary or Affiliate ofTenant.'rhe following language shall be added to the end of the first paragraph of Section 14 of the Lease: "Notwithstanding the provisions of this paragraph, 'tenant: shall have the right to assign its interest in the Lease or sublet all or any portion, of the Premises at any time without the consent of 1.,andlord to any wholly-owned subsidiary of Tenant or any "Affiliate" (as defined below) of Tenant (a "Permitted Transfer"), provided that in the case ofan assignment of the Lease or sublet of the Premises to an Affiliate of Tenant, the proposed assignee or subtenant has a tangible net worth equal to or greater than the greater of (x) the tangible net worth of Tenant on the date of the Lease, and (y) the tangible net worth of Tenant on the effective date of the assignment or sublease, as shown on such proposed assignee's or subtenant's balance sheet prepared in accordance with GAAP within three (3) months prior to such assignment or sublease. Any Permitted Transfer or assignment of tile Lease or sublet of the Premises to which Landlord consents pursuant to this Section 14, shall be conditioned on the following„ (i) No Event of Default by Tenant shall then exist; (ii') Tenant gives written notice thereof to Landlord (and Landlord's lender, if applicable), accompanied by a copy of the executed assignment or sublease document, no later than ten (10) days prior to the proposed effective date ofthe assignment or sublease; (iii) Any assignment of the l..ease or sublease of the Premises shall be subject to the terms of the Lease; (iv) In the case of an assignment of the Lease, such assignee agrees in writing to assume and honor and perform all of the obligations of Tenant hereunder from and after the date of tile Lease; (v) Tenant complies with the succeeding provisions of this Section 14; and (vi) The Guaranty oil" Lease dated December 20, 2013 executed by Arrietek, tile,, a Delaware corporation, shall remain in full force and effect. As used in this Section 14, an "Affifiate" with respect to Tenant, means any other Person that, directly or indirectly, controls or is controlled by or is under common, control with such person and shall include the spouse of any natural person, with the term "control" and any derivatives thereof meaning the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract, or otherwise; "Person"" shall mean an individual, partnership, association, corporation, governmental authority or other entity." 0 11, SNDA, Landlord shall use commercially reasonable efforts to obtain for Tenant from the existing mortgagee of the Property, a subordination, non -disturbance and attortiment agreement on such existing mortgagee's standard form ("SNDA"). Tenant shall pay all Costs irICUrred by Landlord in connection with the negotiation and execution of the SNDA. 12. Condition of Premises, Tenant acknowledges that Tenant currently occupies the Premises pursuant to the Lease and is familiar with the condition of the Prernises, and Building. Tenant hereby accepts the Premises and the Building (including the suitability of the Premises, for the use permitted under the Lease) on a completely "AS -IS", "WHERE -IS" basis and without relying on any representation or warranty (express or implied) of Landlord or any representative of Landlord, Landlord shall not be required to make any repairs, replacements or improvements (whether structural or otherwise) of any kind or nature in connection with, or in consideration of, this Aniencinient. 13. Ratification of Lease. Tenant, represents and warrants to Landlord that as of tile date of this Amendment: (a) Tenant is not in default under any of the terins and provisions of the Lease; (b) Landlord is not in default in the performance of any of its obligations under the Lease and'Tenant is unaware of any condition or circumstance which, with the giving of notice or the passage of time or both, Would constitute a default by Landlord; (c) Landlord has completed, to Tertant's satisfaction, any and all improvements to, or serving, the Premises to be constructed by Landlord; (d) Landlord has paid any and all allowances required of it tinder the Lease, except Landlord's Contribution; (e) Tenant has no defenses, liens, claims, Counterclaims or right to offset against Landlord or against the obligations of Tenant under the Lease; and (f) Tenant has no right or option to expand the Premises or terminate the Lease. 14. Brokers. Tenant covenants, warrants and represents to Landlord that CBRE, Ine. was the only broker to represent Tenant in the negotiation of this Amendment ("Tenant's Broker"). Landlord did not utilize the services of any broker in connection with this Arnendnient. Tenant agrees to indernnify, defend and hold Landlord harmless against and from and against any commissions, liability, loss, cost, damage or expense (including reasonable attorneys' fees) that may be asserted against or incurred by Landlord by any broker other than Tenant's Broker as a result of any misrepresentation by Tenant hereunder. Landlord shall pay a commission to Tenant's Broker pursuant to a separate agreement between Tenant's Broker and Landlord. 15. Miscellaneous. This Amendment shall bind and inure to the benefit of Landlord arid Tenant and all of their respective successors and assigns. Except as modified herein, the Lease and all of the terms and provisions thereof shall remain unmodified and in full force and effect as originally written. All capitalized terms used, but not defined herein, shall have the meaning set fbilh in the Lease. This Amendment, together with the Lease, sets forth the entire agreement between the parties with respect to the subject matter set forth herein and therein and may not be modified, amended, or altered, except by subsequent written, agreement between the parties. In case of any inconsistency between the provisions of the Lease and this Amendment, the provisions of this Amendment shall govern and control, A determination that any provision of this Arnenchnent is unenforceable or invalid shall not affect the enforceability or validity of any other provision hereof. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. A facsimile or pdf copy of this Amendment shall be deemed an original for all relevant purposes. [NO FUR"rHERTEXT ON THIS PAGE] IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their duly authorized representatives effective ,is of the (late hereof. IfflZU410 GKI INDUSTRIAL CHICAGO, 1,I,C, a Delaware limited liability company By: w . ... . .......... Name: Its: TENANT: ATLAS MATEM L TESTINGEC THNOLOGY, L.L.C., a Delaware P*Irea Nlt ility company 0 JOINDER QF!LAJARANTOR The undersigned Guarantor joins in the execution of this First Amendment to Lease (the "Amendruent") for the purpose of (1) acknowledging the execution and delivery of the Amendment by Landlord and Tenant, (2) reaffirming its existing Guaranty dated December 20, 2013 (the "Guaranty") in favor of Landlord with respect to the Lease referred to in the Amendment, and (3) agreeing that the Guaranty is, and shall remain, in full force and effect subsequent to the execution and delivery of this Amendment and shall extend to the matters set forth in this Amendment. GUARANTOW AMETEK, INC., a Delaware corporation By: Narne: Mark Scheuer Its: V.R, Ell$ 19 co ti EXHIRITA Tenant Improvements 'renant may complete the following Tenant Improvements: 1. Renovation ofexisting lab and office premises on the first and second floor of the Building, 2, Remodeling of second 'floor restrooms, 3. Upgrading of LED lighting throughout the Premises, COOK COUNTY ASSESSOR JOSEPH BERMS Cd4K COUNTY AssESSO Ws OFFICE I i 6 NDRTH GLARK STREET, CHICAQD, It.60602 PHONE: SS2 ",WQ � V TYASSESs R COM ffl— Atom CLASS6b .�....._. _ ................:......._. ................. . ELIGIBILITY -APPLICATION ....... .... .......-.. Carefully review the Class 6b Eligibility 8ullstln before completing this Application, Par assistance, please contact the Assessor Office, Development Incentives t drawing ean,d surv)eys).musst be filled - This as follows: a fJilr?g fee of$500.Oo, and sugpGrling documentation (except This application muni be filed PRIOR TO t ctivi commencement or PRIOR TO the commencement of ReDGCQ °n of commencement of Substantial Rehabilitation A Abandoned Property, Applicant information 017 236.-6300 p CRP Holdings A-2, LLC Telephone: (___^_, ? Name: �� Address; TWO International Place, Shite 2500rrX '7 MA Zip Code. 02110 pr City: Boston State: -� CA � Contact Person (if different than the Applicant) Name; Greg Leuze CRP Holdings A-2, LLC Telephone; 6� Company:s�-63o0 Two international Place, Suite 2500 Address; 02110 city; Boston State: NI � zip Code, Email Address: Property Description (per PIN) If you are applying for more than three different PiNs, please submit the additional PIN information n an attachment. 1500 Bishop Ct. Street address; 0) 03-35-200-04 -QQQO Permanent Real Estate index Number: Permanent Real Estate Index Number; (3) permanent Real Estate Index Num#�er; 60056 Mount Prospect Illinois Zip codec p City: State: --� Existing Class; 5-93 -rownshlp: Wheeling atta Ph 10981 do$OrlPtlan, a1[e dlmensrons end square faatag, and bulldfng dlmerrslans ::nd square footage. JV28nolo I o£5 38 Identification of persons Having an interest In the PYOP'94Y ' t thet and other interested parties (including all Attach a complete list of all owners, develop beneficial owners of a land trust) Identified by names and addresses, and the nature and extent of their Interest. #ion of the precise nature tailed description .........................._.................. _.....................inct�rstriai ase......... ...... ....-_ e and extent of the intended use of the subject props y, Attach a de p es of each use. speolfying In the case of multiple uses the relative Percentages Include copies of materials, which explain each Occupant! s business, Including corporate lekterhead, in p brochures, advertising material, lasses, photographs, Nature ofAevelopment Indicate nature of the proposed development by checking eking the appropriate space: New Construction (Read and Complete Substantial Rehabilitation (Read and complete Section A) Incentive only applied to market value attributable to the rehabilitation r"1 occupation of Abandoned Property-- No Special Circumstances (Read and complete Section Sp filth Special Circumstances occupation of Abandoned Pro arty (Read and complete Section C) the roposed development consists of neWoonaftucflan or substantial rshabflll'etron, Provide the A. 1f p following Information: Estimated date of construction ASAP commencement (excluding demolition, I anyj: ASAP Estimated date of construction completion: y Attach copies of the following: 1. Specific description of theproposed bnertY onstruction or substantial rehabilitation. 2, Current plat of survey for subject p P 3. t 1° floor plan or schematic dreg m#ts and occupancy permits (including date of issuance). 4, Building permits, wrecking pant of itation or new 5• Complete description of the ostaand extt , ltemlzedtstaiaimentsboif ail direct and construction (Including such Items Indirect costs, contractor's affidavits, Oto.) 12128/20) 2 of 39 B. if the proposed development consists of the reoccupation of abandoned property, purchased for value, complete (1) and (2) below, 1. Was the subject property vacantand unused for at least 24 continuous months prior to the purchase for value? u'D................ ......_.............. ...... ... ...... ..._...._......`ed..................... ............ ...... ... ........................ .............-..._..._........._....-.._.... .................... ......... ........ _...... When and by whom was the subject property last oG..up prior to the purchase for value? _ Attach copies of the following documents: (a) Sworn statements from persons having personal knowledge attesting to the fact and duration of vacancy and abandonment. (b) Records oertY was vacant and unused and Indicate durati nh as statements of utilit) which of ouch vrate that the vacancy, property 2. Application must be made to Assessor prior to reoccupation; Estimated date of reoccupation; Date of purchase: Name of purchaser: Name of seller; Relationship of purchaser to seller; Attach copies of the following documents; (a) Safe contract (b) Closing statement (c) Recorded deed (d) Assignment cf beneffolai Interest (e) Real estate transfer declaration C, if the applicant is seeking special circumstances to establish that the property was abandoned for purposes of the Incentive where there was a purchase for value, but the period of abandonment prior to purchase was less than 24 continuous months, please complete section (1) below. if the applicant Is seeking special circumstances to establish that the property was abandoned for purposes pl the ion was 24 continuous months e where there was no or greaterurchase , please value,or mplet but the section (2) below. eriod of abandonment prior to application 1, How Iona was the period of abandonment prior to the purchase for value? When and by whom was the subject property last occupied prior to the purchase for value? 3 of s 12!29010 I' V Attach copies of the following documents; 1 d e attesting to the fact (a) Sworn statements from person having personal know e g and duration of vacanoy and abandonment. (b) Records (such as statements of utility duration of such vacancy, that the property was vacant and unused and Indicatedsupporting "abandonment as o eciai circumstances supe -.- ................._..� (c) Include the finding f sp c the.. County Board�......if located--. irr an ......................determined ....by...-.the-....munlcipality,...- r...... uninoorperated area. Also u stating its de the lapArovat or the nanoe or lless than 2-m nth Commissioners of Cook abandonment period Application must be made to Assessor prior to commencement of reoccupation of the abandoned property. Fstimated date of reoccupatlon: Date of purchase; Name of purchaser; Name of setter: Relationship of purchaser to seller; Attach copies of the following documents: (a) Sale contract (b) Closing statement (c) Recorded deed (d) Assignment of beneficial interest (e) Real estate transfer declaration 2, Was the subject property vacant and unused for at feast 24 continuous months prior to the filing of this appllcation? RYES �O When and by whom was the subject property last occupied prior to filing this application? Attach copies of the following documents:a attesting to the fact and (a) Sworn statements from persons having personal knowledg duration of vacancy and abandonment, (b) Records (such as statements d and of Inutilidicate dcomuration of such vacancy) which krate that the property was vacant and u special circumstances supporting "abandonment as (c) Include the finding or the County Board, if located in an determined by the municipality,the Soard of unincorporated area. County statingde the itsapproval for lack ofoa purchase for Commissloners of Cookk value. Application must be made to Assessor prior to commencement of reoccupation of the abandoned property, ASAP Estimated date of reoccupatlon; 12/28,2010 a of s 41 Employment Opportunities at. 5-10 How many construction jobs will be created as a result of this development?. How many permanent full-time and part-time employees do you now employ in Cook County? NA Full -time:. ---I NA ....._. Part-time: , _..bllbe_.cret. delopmed How many. naw w_a.uto ......................................�i: �a as od How many new permanent part-time jobs will be created as a result of this proposed development? TBD Goole County Living Wage Ordinance Applicant confirms that It has reviewed a copy of as amend Article IV, Division 1, of the COOK COUNTY LIVING WAGE ORDINANCE, Seo. Piease mark the appropriate blank below to Indicate which statement applies to the applicant: Applicant acknowledge that during the appeal process It must provide an affidavit to the Cook Ordinance ce because applicant isting currretIs In ntly paying liance with a living wageeabove referenced Living Assessor's office to It$ employees Wage Ordin OR X Applicant acknowledge that during the appeal process it must provide an affidavit to the Cook County becausOffice �p�llo�int �nt�Qt r��U�rea to pay a living with waabove referenced Living Wage Ordinance Local Approval A certified copy of a resolution or ordinance from the municipality in which the regi estate [s located (or the County Board, If the real estate Is located In an unincorporated area) shoulda co and -consents Sethi topplicGlass The ordinance or resolution must expressly state that the munlclp MY supe Orts Bb Application and that it finds Class tab necessary for development to occur on the subject property. If a resolution Is unavailable at the time the application is filed, a letter from the municipality or the County Board, as the case may be, stating that a resolution or ordinance supporting the incentive has been requested may be filed with this application Instead, if the applicant is seeking to apply based on the reoccupation of abandoned oto obtaining property let er fand ill be seeking a rom the mien clpality confirms "specialof that aireoiution orf'from the ordinance municipality, in addition supporting the Incentive has been requested, the applicant must file a Letter from the County este confirming that a resolution the municipality ity orgthe CountyaBoard indenieof s theaapplk ant's requesnoes t far a resolutions been or If, at a later date, ordinance, the applicant will be deemed Ineligible for the Class 6b Incentive, whether or net construction has begun, In p cant will be o, the resolution must be submitted by the time the applicant fiiles an "incentive Appeal". i, the undersigned, certify that !have read this Appilcatlan and that the statements set forth in this on Inbe t rma. ondIn the and belief achments hareto are t and as o such matters ethe undersigand ned except rtifies that he she belt vesothe on lryforrrzati n XSlcgina 6 {rue, Aj. v Date A34-1 L Title Print Name 5 of s 12128l�014 42 AFFIDAVIT I, Linda McDonagh, if called to testify would attest to the following facts: 1. International. 2, That I am the broker for the owner, CRP.Holdings Art, LLC, of the property located at 1500 Bishop Ct. in Mount Prospect, Illinois (PIN: 03-35-200-045- 0000) ("Subject Property"); 3. That the prior occupant of the Subject Property was Stenograph, which completely vacated the Subject Property in November, 2009, That I am a licensed real estate broker in the State of Illinois for Colliers d, That since November 30, 2009, the Subject Property has sat 100% vacant and unused and is -remains 100% vacant and unused as of today. 5. That the Subject Property has been on the market to lease since November, 2009. NOTOFFICIBLICAL. SEAL KEVIN L WILEY ' pMMI$S ON ESI S p 10IS 44 Subscrib d and sworn before me This day ofp�, 2011 SiAlWr�f otary Pa is Further Affiant Sayeth Not Linda McDonagh Colliers International Date.• r 1 CK STATE OF ILLINOIS } SS COUNTY OF COOK ) certify that I am the duly appointed Village Clerk of the Village of 1, M. Lisa Angell, do hereby Y Mount Prospect and as such, am keeper of the records and files of said Village. 28-11entitled of Resolution No. I do further certify that attached hereto is a true and correct copy LLC' 1500 BISHOP COURT, "A RESOLUTION IN SUPPORT OF CRP HOLDINGS A-2, d Board of Trustees held OSPECT, ILLINOIS MAKING APPLICATION FOR OO n COUNTY CLASS es TAX MOUNT PR of the President ABATEMENT" passed at the regular meeting September 6, 2011 at which time the Village Board voted as follows: AYES: Hoefert, Juracek, Korn, Matuszak, Polit, Zadel NAYS: None ABSENT: None cords and files in my care and custody all as appears in the official re . Dated this 7"h day of September, 2011 M. is Angell Village Clerk Village of Mount Prospect Cook County, Illinois (Seal) 44 VILLAGE MANAGER Mount Prospect Michael E. Jannis MAYOR IrvELnaK. Wilks VILLAGE CLERIC M, Lisa Angell TRUSTEES Paul Wm. Hoefert Phone: 8471392-6000 Arlene A.Juracek Fax: 8471392-6022 A JohD Korn 'TDD: 8471392-6064 John J. Matuszak Nun V. ros Ef.ar Steven 5, POlit Michael A. Zadel Mount Prospect Village of Mount Prospect, Illinois 60056 50 South Emerson Street, STATE OF ILLINOIS } SS COUNTY OF COOK ) certify that I am the duly appointed Village Clerk of the Village of 1, M. Lisa Angell, do hereby Y Mount Prospect and as such, am keeper of the records and files of said Village. 28-11entitled of Resolution No. I do further certify that attached hereto is a true and correct copy LLC' 1500 BISHOP COURT, "A RESOLUTION IN SUPPORT OF CRP HOLDINGS A-2, d Board of Trustees held OSPECT, ILLINOIS MAKING APPLICATION FOR OO n COUNTY CLASS es TAX MOUNT PR of the President ABATEMENT" passed at the regular meeting September 6, 2011 at which time the Village Board voted as follows: AYES: Hoefert, Juracek, Korn, Matuszak, Polit, Zadel NAYS: None ABSENT: None cords and files in my care and custody all as appears in the official re . Dated this 7"h day of September, 2011 M. is Angell Village Clerk Village of Mount Prospect Cook County, Illinois (Seal) 44 RESOLUTION NO. 28-11 A RESOLUTION IN SUPPORT OF CRP HOLDINGSN21S,C, 1500 BISHOP COURT, MOUNT PROSPECT, MAKING APPLICATION FOR COOK COUNTY CLASS 6B TAX ABATEMENT EAS the Village of Mount Prospect encourages community development to provide WHER � opportunities; and for economic growth and career various opportunities proert tax incentives offered by Cook CntMount Prospect, Cook exist for new busine WHEREAS, through p p yof sses to become established in the Vi11age County; and. ro erttax incentives, coe ntiiels of Lake and e of Mount WHEREAS, without the Cook County etit �e disadvantage with the neighboring un Prospect is at a comp DuQage In attracting industrial development; and E S CRP HOLDINGS A-2, LLC has requested a th ficaftion at llae (1500 Bishop Mount ct to WHEREAS, support its application for a Class 6B Real Property Mount Prospect, Cook County (Property); and REAS, the Property has been vacant and fou d th atspecialal cr more ircumstances nces ex st an 24 continuous WHEREAS, ase of Class 6B Real months and the Village of Mount Prospect for the perp which justify finding that the Property Property Classification; and S eir the corporate authorities of the Village eV I�°tee Prospect he V llage ofaMount WHEREAS, request is in the best interest of the economic p Prospect. RESIDENT AND NOW, THEREFORE BE IT RESOLVED BY THE EC COOK COUNTY,, ILLINOIS: OF TRUSTEES OF THE VILLAGE OF MOUNT PROS stees of the Village of Mount application of CRP HOLDWGS A-2, LLC a SECTION ONE: That the President and Board of Tr allows a 10°�° assessment level Prospect do hereby support and consent to the app Class 6B Property Classification from Cook County, which ali t 10 ears, 15% in the 11tH year and 20% in the 12tH year for the Subject Property for the first y described located at 1500 Bishop Court and legally Center -Resubdivision twenty-three, a Resubdivision Lot in the Plat of Kensington Center -Res division in part e the North half of of Lotof 50 804 in Plat of Kensington Center- Resubdivision twenty-one, a Resubdivision o Lot 601 in Kensington Center -Phase Six, a East of the Third five, Township Forty -Two North, Range Eleven, Section thirty- according to the Plat thereof filed for record in the Office of the 18 1988 as document No. LR3724251 all in Cook County, Principal Meridian, Registrar of Titles, July Illinois. PIN: 03-35-20 0-045-0000 45 Page 212 J550 Bishop Court Class 613 Tax Abatement SECTION TWO: That the Village of Mount Prospdec this this industrial ndu tr al gro pmentreased is in employment and economic development furtherance of this goal. The Board offr �elopOf the to illlage f Mo nt Prosrpect further finds that this incentive is necessary f or SECTION THREE: That development of the property is subject to compliance with all requirements of the 1-1 (Limited industrial) District. S ECTiON FOUR: That this Resolution shall be in full force and effect from and after its passage and approval in the manner provided by law. AYES: Hoefert, Juracek, Korn, Matuszak, Polit, Zadel NAYS: None ABSENT: None PASSED and APPROVED this 6ih day of September, 2011. 41n K. Wilks Mayor 1 `:-F*sa Angeli Village Clerk H:ICLKOIWINIMEMOSIRESOLUTION\Class 6 tax abatement15DbBishopCourtsepi2011,doc C 1.1 Le al Description Site and Buildin S care Foota e located at 1500 Bishop Ct. in Mount The total land area of the subject property is a roximately 211,937 square feet, an nois (PIN: 03-35-200-045-0000) ' pP roxim the total building area Of 75,000 Prospect, Illithe existing structure located thereon is app square feet. Below please find the legal description for the subject property 804-A IN THE PLAT OF KENSINGTON OION CENTER - LOT LOT RESUBDIVISION TWENTY-THREE, A 80 4 PLAT OF KENSINGTON CST 80-RESUBDIVISION 1N I ENSINGTON TWENTY-ONE, A RESUBDIVISION OF L CENTER -PHASE SIX, A SUBDIVISION IN PART FORTYO WO CE HALF OF SECTION THIRTY-FIVE, TOWNSHIP NORTH, RANGE ELEVEN, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLA TftTPH�R TITLES FOR , JULY RECORD IN THE OFFICE OF THE REGIS 18, 1988 AS DOCUMENT NO. LR3724251 ALL IN COOK COUNTY, — ILLINOIS. 47 Cil - --Ct. in CRP Holdings A-2, LLC ("Applicant"} owns the property located at 1500 Bishop t Prospect, Illinois ON: 03-35-200-045-0000). The Applicant plans to lease the currently Moura pManfacturing bution vacant and unused site to an industrial user for warehousing, ain murovernen indust be completed use, However, before the Applicant can lease the site, certp in order for the property to be suitable for any potential tenant. The subject property consists of an approximately 75,000 square foot facility located on a 211,937 square foot site that has been 100% vacant an rt s in need of sign fi antused since November 0, roughly 2009 and continues to sit 100% e pnl and nd unused. lotted1 approximately $100,000 to immediately improvements, and therefore, the App p refurbish the existing facility. These initial improvements will be made o with ge a tenant's ard to, but of r p and parking limited to the bathrooms, office, floors, walls landscaping proximately $300,000 to $350,000 for secured, the Applicant has plans to spend an additional ap tenant improvements and roof repair. Please note that these rehabilitation costs could significantly market vaxiacesy for a variety of reasons depending on cosmetic improvements, end users and mar 48 617 yy Yppp}}gill �Yg9 � ilk i16 yg5 gmV -fie It Off° Y¢; Bylla a BB $Y$ g g gg gppa ez@ U s a: a R� ry w]IuraaYna ixY e; (41l � -- o N SXx6 OXIXbYX FIXo YOIISU� 'Y;laoN tit ' e - V Pip YssYrI�Ys:IxrY ral 0 �. ,. 8L'Z09 -- -- x mug uYuaod+m - _�- IYlemnnY Neµva•l D111 � j Ieoaoaltl iOtlµlM1 ee ONWYeaOYI i � � � Illpylp3M39 wYo18 N]14tY39YIB8od 9a9a¢ e ®®a �x: �sRl1 s i�- F a jkl dip a 05 H U O 42 Cal O C W2 { N m W < y 0 :z oaf 3 g 7:7: — — — — — ` — — — �: � — — � tt °C-�— i4-1 „.---------------------- �w H U O 42 Cal O C W2 �s 0 O; O� J ui ILL o u 0 w Z O U W H r V 0- 0 m Co 0 LID 13-R-57 RESOLUTION Sponsored by THE HONORABLE TONI PRECKWINKLE, PRESIDENT AND GREGG GOSLIN, COUNTY COMIVHSSIONER WHEREAS, the Cook County Board of Commissioners has adopted a Real Property Assessment Classification 6b that provides an applicant a reduction in the assessment level for an industrial facility; and WHEREAS, the County Board of Commissioners has received and reviewed an application from CRP Resolution No. 28-11 from the Village of Mount prospect linoisr an abandoned Holdings A-2, LLC and County Board industrial facility located at 1500 NumbeBlrs 0 35 2 0hop Court�-045 OOOOmount zOandct, Cook County, District #14, Property Ind structures t, after WHEREAS, Cook County has defined abandoned months are y as buildings and urchased or value byra purchaser in whom. having been vacant and unused for at least 2 p the seller has no direct financial interest; and WHEREAS, industrial real estate is normally assessed at 25% of its market value. Qualifying industrial real estate eligible for the Class 6b can receive a significant � ficompleted,lon in the or in the easel of assessment from the of abandoned property date that new construction or rehabilitation has from the date of substantial re -occupancy. Properties receiving Class eabwill i; and be assessed at 10% of the market value for 10 years, 15% for the 11th year and 20% in the 12thWHEREAS, in the instance where the property does not meet the definition of abandoned property, the municipality or the Board of Commissioners, may determine that special circumstances justify finding that the property is abandoned for the purpose of Class 6b; and ue by a WHEREAS, in the case of abandonment of over circumstances months and no justify finding ase rthel property lisndeemed buyer, the County may determine that special abandoned;and WHEREAS, Class 6b requires a Resolution by the County Board validating the property is deemed abandoned for the purpose of Class 6b; and WHEREAS, .the Cook County Board of Commissioners has determined that the building has been abandoned for 24 months, at the . time of application, with no purchase for value and that special. circumstances are present; and WHEREAS, the re -occupancy will create an estimated 50-I00 new full-time jobs; and WHEREAS, the Village of Mount Prospect states the Class 6b is necessary for development to occur on this specific real estate. The municipal Resolution have tes he special purchase for circumstances include that d of the property has been vacant for over 24 months; substantial rehabilitation; and WHEREAS, the applicant acknowledges that it must provide an affidavit to the Assessor's Office stipulating that it is in compliance with the County's Living Wage Ordinance prior to receiving the Class 6b incentive on the subject property. 52 THEREFORE, BE IT RESOLVED, by the President and Board of Commissioners of the NOW, theroe located at 1500 County of Cook, that the President and Board snis issiOdeemed abandoned wiith spec al circumstances Bishop Court, Mount Prospect, Cook County, under the Class 6b; and BE IT FURTHER RESOLVED, that the County Clerk is hereby authorized and directed to forward a certified copy of this Resolution to the Office of the Cook County ssessor. Approved and adopted this 16th day of 3anuary 2013. (SEAL) Attest: Clerk DAVID ORIS County TONT PRECKWIlVKLE, President Cook County Board of Commissioners BY BOARD I COOKNT COUCOMMISS ONNE1 JAN 16 2013 ®� X21`0`58 53