The URL can be used to link to this page

Home My WebLink About8.1 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 1050 BUSINESS CENTER DRIVESubject Meeting Fiscal Impact (Y/N) Dollar Amount Budget Source Category Type Information Item Cover Page 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 1050 BUSINESS CENTER DRIVE February 6, 2024 - REGULAR MEETING OF THE MOUNT PROSPECT VILLAGE BOARD N NEW BUSINESS Action Item GKI Industrial Chicago, LLC (Applicant) is seeking support for adoption of a resolution supporting the renewal of their Cook County Class 6b Incentive for the property located at 1050 Business Center Drive. The renewal would be for an additional 12 years and would enable them to maintain their engineering, architecture, and material science consultant/testing facility at this location. The Village originally granted the 6b incentive in 2015. 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 benefiting 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 51,000 square foot building located on a more than 3 -acre site. The applicant currently owns five buildings in the Kensington Business Center located at 1000, 1050, 1441, and 520 Business Center Drive along with 1500 Bishop Court totaling over 260,000 sq. ft. They pay more than $620,000 in annual property taxes on these properties. CTLGroup, the current tenant of 1050 Business Center Drive and the adjacent building at 1000 Business Center Drive, employs 60 professionals and began relocating to the Subject Property in June of last year. Should the tax savings be granted, CTLGroup plans to hire 2-3 new employees before the end of the year and an additional 10-15 over the life of the incentive. They would also complete approximately $100,000 in building improvements and spend upwards of $2.5 million on their build -out. The Applicant is requesting the 6b incentive to maintain their taxes at around $1.50 per square foot for their property. If the extension is not granted, they estimate 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. Staff has reviewed the submitted application and is supportive of the request. Discussion Alternatives 1. Approve the resolution supporting GKI Industrial Chicago, LLC's application for the renewal of their Cook County Class 6b Incentive for the property located at 1050 Business Center Drive. 2. Action at the discretion of the Village Board. Staff Recommendation Staff recommends that the Village Board approve the resolution supporting GKI Industrial Chicago, LLC's application for the renewal of their Cook County Class 6b Incentive for the property located at 1050 Business Center Drive. Attachments 1. GKI Industrial Chicago, LLC 613 Attachment 2-6-2024 2. Resolution 613 RENEWAL GKI Industrial mHE LAW Ob E'WMS OF LISTON & r-PSANTILIS A PROFESSIONAL CORPORATION 33 NORTH 1,A8ALI,E STREET, 28TH F LOOR CHICAGO, ILLINOIS 60602 BRIAN R LISTON (312) 580-1594 PETER "3ANTI1,I6 (312) 604-3808 FACSIMILE (312) 580-1592 January 5, 2024 VIA MAIL & EMAIL Bill Cooney Village of Mount Prospect 50 S. Emerson Mount Prospect, Illinois 60056 RE: 1050 Business Center Drive — 6b Renewal Request GKI Industrial Chicago, LLC 1050 Business Center Drive, Mount Prospect, Illinois PINs: 03-35-104-058 Dear Bill: GKI Industrial Chicago, LLC (the "Applicant") is the owner of the property located at 1050 Business Center Drive, Mount Prospect, IL (PIN: 03-35-104-058-0000) (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 2015, and thus 2024 represents the I 0th year of the incentive. The Subject Property consists of an approximately 51,175 square foot building located on a 141,075 square foot site. The facility features three (3) interior docks, one (1) drive-in door, 10-20' clear height, and approximately 105 car parking spots. Novamatic, the previous occupant vacated the premises in April and the Applicant now leases the entire subject property and adjoining building to CTLGroup (the "Occupant" or "CTL"), who utilize the facility for engineering, architecture & material science consulting/testing. Occupant, Industrial Use & Employment CTLGroup is an internationally recognized engineering, architecture, and materials science consulting firm, providing expert technical services to clients across an array of industries. CTL's technical breadth allows us to see problems through multiple lenses, while its technical depth permits us to find unique solutions to complex challenges. The expertise of its technical staff is complemented by one of the largest and most comprehensive private materials and structural testing laboratories in the world. The combined strength of its consulting and laboratory capabilities under one roof allows the company to deliver integrated technical solutions to each of its clients. CTL originated over a century ago as the cement and concrete technology research and development arm of the Portland Cement Association (PCA) in 1916. Its original role was focused on developing the then - fledgling U.S. cement industry. In the 1960s, present-day CTL began providing consulting services for applied research projects, continuing to expand its engineering consulting services through the 1980s. in 1985 CTL gained national attention when NASA provides one of the largest samples of lunar soil it has allocated for investigative research. Test results verify that lunar material is an excellent aggregate for making concrete. In 1987 CTLGroup, which began as the research and development arm of the Portland Cement Association (PCA), starts serving outside clients as an independent PCA subsidiary. The firm expanded its scope of service beyond concrete and modifies a structures lab to incorporate the testing of steel structures, which includes rail and rail rolling stock components. In 1997 CTL leads the industry with services that include almost all aspects and methods of concrete NDT when NDT expert Allen Davis led the development and promotion of the Impulse Response (IR) technique. Today, CTL offers full services in concrete NDT, and remains at the forefront utilizing the latest technologies. Until May 25th, 2023, CTL was located at 5400 Old Orchard Road in Skokie and is in the process of relocating its laboratory portion of their operations to the Subject Property. CTL currently has 60 full-time employees and five (5) temporary employees. Assuming the incentive is granted, the company plans on hiring 3-5 new full-time employees in the first year, and additional employees based on growth. CTL plans to utilize the facilities specifically for a non -hazardous testing laboratory together with general warehousing, storage, distribution of non -hazardous goods and ancillary offices. Based on the enclosed employee impact chart, an estimated 65 full-time employees would generate approximately $275,538 in Village revenue per year. Property Improvements, Real Estate Taxes & Additional Benefits Since the initial incentive was passed tax savings have been continually reinvested into additional improvements, renovations and equipment for the Subject Property. Assuming the renewal is granted, the Applicant has bids for approximately $100,00 in additional building improvements/renovations and CTL plans on spending upwards of $2,500,000 for its build -out. Some of the larger improvements consists o£ • Electrical Light, Power, AN, Fire Alarm: $625,000 • HVAC: $350,000 • Plumbing: $200,000 • Metal Wall Framing, Door Frame Installation, Insulation, Drywall, etc.: $345,000 • Floor, Ceiling, Carpentry, Glass, Doors, Hardware, etc.: $750,000 • Fire Protection System: $100,000 • Milling/Paving/Restripe: $75,000 CTL currently employs 60 full-time employees in Illinois, with approximately 2-3 new employees expected to be hired by the end of 2023. Over the life of the incentive, CTL hopes to increase its employee count by an additional 10-15. After improvements (even assuming the Assessor only increases the value $.50 for each dollar spent), the Subject Property is projected to have a market value of around $6,129,580, which would generate an estimated $2,383,536 in total taxes over the life of the Class 6b Tax Incentive. Without the incentive renewal, the Applicant may be unable to lease the property long-term the property (resulting in significant vacancy relief from taxes) and/or complete the proposed improvements. At full vacancy the Subject Property would have an estimated market value of $1,769,452 and generate only $1,529,034 over the life of the incentive. Therefore, should the Class 6b renewal be approved, the Subject Property would generate an additional $854,502 in real estate taxes over the life of the Class 6b Tax Incentive Renewal. In addition to increased property tax revenues, the Occupant's presence in the Village significantly benefits the local community. CTL has active customers who may 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 60 full time employees generate an estimated $254,250 annually in local revenue, or over $3,000,000 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. Rega sf Mark Rogers COOK COUNTY ASSESSOR FRITZ KAEGI C 0 *' 0% co COOK COUNTY ASSESSOR'S OFFICE 118 NORTH CLARK STREET, CHICAGO, IL 60602 PHONE: 312.443.7550 FAX: 312.603.3352 WWW.COOKCOUNTYASSESSOR.COM CLASS 613/8 Control Number RENEWAL APPLICATION I I 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 Address: 280 Park Avenue City, State: New York, NY Telephone: ( 847 ) 306-6834 Email Address: mprice@brennanlic.com Agent/Representative (if any) Name: Matt Price Address: 10275W Higgins Rd. #810 Zip Code: 10017 Telephone:( 847 Now= City, State: Rosemont, IL Zip Code: 60181 Email Address: mprice@brennanllc.com 11. Description of Subject Property Street address: 1050 Business Center Drive City, State: Mount Prospect, Illinois Zip Code: 60056 Permanent Real Estate Index Number (s): Township: Wheeling 03-35-104-058-0000 111. 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 613/8 designation New Construction Substantial Rehabilitation Occupation of Abandoned Property - No Special Circumstance [X] Occupation of Abandoned Property - With Special Circumstance V11. Employment How many permanent full-time and part-time employees do you now employ? On -Site: Full-time: 60 Part-time: 0 In Cook County: Full-time: 60 Part-time: 0 V111. 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 613/8 Renewal and has determined that the industrial use of the property is necessary and beneficial to the local economy. 2 Matt Price I, the undersigned, certify that 1 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. Matt- Signature attSignature Matt Price Print Name Property Manager Title 3 11/6/2023 Date 1214/18 EDS AFFIDAVIT I, A �4� ?V t Ce 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 1050 Business Center Drive, Mount Prospect, IL 60056 (PIN: 03-35-104-058- 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 1500 Bishop Court 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 Avenue Elk Grove Village, Illinois 60007 1525 Chase Avenue Elk Grove Village, Illinois 60007 1855 Greenleaf Avenue Elk Grove Village, Illinois 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% 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. Subscribed and sworn before me This -t" day of g -2023 n P,4 A Signature o 4- Publ o Further Affiant Sayeth Not Date: 1�� / 7/)-``�3- official Seal D Fogg Notary Public State of Illinois My Commission Expires 411012027 Legal Description, Site and Building Square Footage 1050 Business Center Drive, Mount Prospect, IL PIN: 03-35-104-058-0000 The Subject Property consists of an approximately 51,175 square foot building located on a 141,075 square foot site. The facility features three (3) interior docks, one (1) drive-in door, 10- 20' clear height, and approximately 105 car parking spots. Novamatic, the previous occupant vacated the premises in April and the Applicant now leases the entire subject property and adjoining building to CTL Group (the "Occupant" or "CTL"), who utilize the facility for engineering, architecture & material science consulting/testing. Attached hereto please find: • Legal Description • Survey • Preliminary Site Plan • Aerials of Subject Property • Street View LEGAL DESCRIPTION LOT 301-A IN KENSINGTON CENTER -RESUBDIVISION THIRTEEN, BEING A RESUBDIVISION OF CERTAIN LOTS IN KENSINGTON CENTER -RESUBDIVISION NINE. BEING A RESUBDIVISION OF LOT 301 IN KENSINGTON CENTER -PHASE THREE -B, BEING A SUBDIVISION IN PART OF THE NORTHWEST 1/4 OF SECTION 35; ALSO RESUBDIVISION OF LOT 401 IN KENSINGTON CENTERPHASE FOUR, BEING A SUBDIVISION IN THE NORTHEAST 1/4 OF SECTION 35, ALL IN TOWNSHIP 42 NORTH, RANGE 11. EAST OF THE THIRD PRINCIPAL MERIDIAN. ACCORDING TO THE PLAT RECORDED AND FILED FEBRUARY 1. 1984 AS DOCUMENTS 26952608 AND LR3353303, IN COOK COUNTY, ILLINOIS. Common Address: 1000-1050 East Business Center Drive. Mount Prospect, IL 60056 PIN(S): 03-35-104-057-0000; 03-35-104-058-0000 mTITLE DESCRIPTION I LOT _301-A IN KENSINGTON CENTER -RESUBDIVISION THIRTEEN, BEING A RESUBDIVISION OF CERTAIN LOTS IN KENSINGTON CEENTER-RESUB0NS|ON NINE, BEING A PE5UBD|\'(IS|DN Or LOT 301 IN KENSINGTON CENTER -PHASE THREE -B, BEING A SUBDIVISION IN PART OF THE NORTHWEST 1/4 OF SECTION 35; ALSO RESUBDIVISION OF LOT 401 IN KENSINGTON CENTERPHASE FOUR, BEING A SUBDIVISION IN THE NURTHEA ST 1/4 OF SECTION 35. ALL IN TOWNSHIP 42 NORTH, RANGE 11. EAST OF THE THIRD PRINCIPAL MER|Q|AN, ACCORDING TO THE PLAT RECORDED AND FILED FEBRUARY 1, 1984-A3 DOCUMENTS 2D8525O8 AND LR3�53JQ3. IN COOK COUNTY. ILLINOIS. THE LAND SHOWN IN THIS SURVEY IS THE SAME AS THAT DESCRIBED IN REPUBLIC TITLE OF TEXAS. INC., COMMITMENT #1002-192810-36-RTT, DATED NOVEWBEP 16. 2015' REVISED NOVEMBER 29. 201& E2 TITLE INFORMATION m m c m I � � I a I a I � w m i 0 w a m � � I Z ^ � c C o � 04 04a 3 I 20.0' BUILDING SETBACK PER ZONING s rs a � m This survey coordinated, but not performed, by Commercial Due Diligence Services. Sumey obtained from and ljory 30 -Al r 3k)v SPACE PLAN LEGEND WALL / DOOR TO BE DEMOLISHED C== EXISTING WALL TO REMAIN NEW PARTITION EXISTING DOOR NEW DOOR RELOCATED DOOR 0 (D (D SALT FOG FIBER '(D STOP - 0 (D 82 SF 81 SF 107 SF U- r� MECHANICAL < V) 2 5:0 SF 0 MAT'L. STORAGE RACKS/CABS/GEN MACHINE SHOP/ ELD DAQ 00 2400 SF 925 SF 37� SF 37 SF R PREP CEMENT/CHEM/PETRO PREP r 0P THERM 64 SFLL S 1619 SF 114'-6" < LL 0E STRONG FLOOR W/OVHD CRAN 3:U- CONCRETE MIX C�l 505033 SF 10 " 156I SF MOIST - CREEP/SHRINK 502 SF O"�N 502 SF u cq x EE RECEIVING LL. 0 LL. DIRTY PREP 1879 SF V) 1345 SF 'Lr)X,r SAMPLE STORAGE wooD SHOP MATERIAL STORAGE MORTAR L LAB PHYSICAL TESTING 1144 SF 500SF 1157 SF L 2031 SF 1423 SF 0 c � g . ,- »��\�� m 1050 E Business, Center Dr 1050 E Business Center Dr CL I OFA- E Busaness Center Dr IN Identification of Persons Having an Interest in the Property 1050 Business Center Drive, Mount Prospect, IL PIN: 03-35-104-058-0000 Applicant: GKI Industrial Chicago, LLC IVC Industrial Acquisition Fund One, LLC — 6.53% IVC Promote K, LP - 46.97% IVC Promote G, LP — 46.50% Occupants: CTL Group CTL Group is an internationally recognized engineering, architecture, and materials science consulting firm, providing expert technical services to clients across an array of industries. CTL's technical breadth allows us to see problems through multiple lenses, while its technical depth permits us to find unique solutions to complex challenges. The expertise of its technical staff is complemented by one of the largest and most comprehensive private materials and structural testing laboratories in the world. The combined strength of its consulting and laboratory capabilities under one roof allows the company to deliver integrated technical solutions to each of its clients. Industrial Use & Employment Information 1050 Business Center Drive, Mount Prospect, IL PIN: 03-35-104-058-0000 CTL Group is an internationally recognized engineering, architecture, and materials science consulting firm, providing expert technical services to clients across an array of industries. CTL's technical breadth allows us to see problems through multiple lenses, while its technical depth permits us to find unique solutions to complex challenges. The expertise of its technical staff is complemented by one of the largest and most comprehensive private materials and structural testing laboratories in the world. The combined strength of its consulting and laboratory capabilities under one roof allows the company to deliver integrated technical solutions to each of its clients. CTLGroup originated over a century ago as the cement and concrete technology research and development arm of the Portland Cement Association (PCA) in 1916. Its original role was focused on developing the then -fledgling U.S. cement industry. In the 1960s, present-day CTLGroup began providing consulting services for applied research projects, continuing to expand its engineering consulting services through the 1980s. in 1985 CTLGroup gained national attention when NASA provides one of the largest samples of lunar soil it has allocated for investigative research. Test results verify that lunar material is an excellent aggregate for making concrete. In 1987 CTLGroup, which began as the research and development arm of the Portland Cement Association (PCA), starts serving outside clients as an independent PCA subsidiary. The firm expanded its scope of service beyond concrete and modifies a structures lab to incorporate the testing of steel structures, which includes rail and rail rolling stock components. In 1997 CTLGroup leads the industry with services that include almost all aspects and methods of concrete NDT when NDT expert Allen Davis led the development and promotion of the Impulse Response (IR) technique. Today, CTLGroup offers full services in concrete NDT, and remains at the forefront utilizing the latest technologies. Until May 25`x', 2023, CTLGroup was located at 5400 Old Orchard Road in Skokie and is in the process of relocating its laboratory portion of their operations to the Subject Property. CTL currently has 60 full-time employees and five (5) temporary employees. Assuming the incentive is granted, the company plans on hiring 3-5 new full-time employees in the first year, and additional employees based on growth. CTL plans to utilize the facilities specifically for a non -hazardous testing laboratory together with general warehousing, storage, distribution of non -hazardous goods and ancillary offices. Based on the enclosed employee impact chart, an the current 60 full-time employees would generate approximately $254,250 in Village revenue per year (or over $3,000,000 over the life of the incentive). Employee Business Impact Chart Purchase Emp. % Exp./Week Weeks Total Lunch 60 55% $55 50 $90,750 Grocery 60 30% $50 50 $45,000 Consumer Gc 60 25% $35 50 $26,250 Entertainmen 60 15% $55 50 $24,750 Auto -Gas 60 75% $30 50 $67,500 TOTAL (Per Year) $254,250 Potential Growth & Property Improvements 1050 Business Center Drive, Mount Prospect, IL PIN: 03-35-104-058-0000 Since the initial incentive was passed tax savings have been continually reinvested into additional improvements, renovations and equipment for the Subject Property. Assuming the renewal is granted, the Applicant has bids for approximately $100,00 in additional building improvements/renovations and CTL plans on spending upwards of $2,500,000 for its build -out. Some of the larger improvements consists of. • Electrical Light, Power, AN, Fire Alarm: $625,000 • HVAC: $350,000 • Plumbing: $200,000 • Metal Wall Framing, Door Frame Installation, Insulation, Drywall, etc.: $345,000 • Floor, Ceiling, Carpentry, Glass, Doors, Hardware, etc.: $750,000 • Fire Protection System: $100,000 • Milling/Paving/Restripe: $75,000 CTL currently employs 60 full-time employees in Illinois, with approximately 2-3 new employees expected to be hired by the end of 2023. Over the life of the incentive, CTL hopes to increase its employee count by an additional 10-15. After improvements (even assuming the Assessor only increases the value $.50 for each dollar spent), the Subject Property is projected to have a market value of around $6,129,580, which would generate an estimated $2,383,536 in total taxes over the life of the Class 6b Tax Incentive. Without the incentive renewal, the Applicant may be unable to lease the property long-term the property (resulting in significant vacancy relief from taxes) and/or complete the proposed improvements. At full vacancy the Subject Property would have an estimated market value of $1,769,452 and generate only $1,529,034 over the life of the incentive. Therefore, should the Class 6b renewal be approved, the Subject Property would generate an additional $854,502 in real estate taxes over the life of the Class 6b Tax Incentive Renewal. In addition to increased property tax revenues, the Occupant's presence in the Village significantly benefits the local community. CTL has active customers who may 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 60 full time employees generate an estimated $254,250 annually in local revenue, or over $3,000,000 during the life of the incentive. (n C) aG$\ §f®= LU 4 xmE3 //\ C) =5 � y ) \ ( § ) ) ) ) ) \ ) ) \ ,L \ a{ j \E!! \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ Ej6 /)_ \/ ( !|; }ƒ� /E _ \ \ ) \ ( § ) ) ) ) ) \ ) ) \ ,L \ a{ \ \ \ \ \ \ \ \ \ \ \ \ \ �\ Ej6 /)_ \/ ( !|; }ƒ� §) _ ) \ ( § ) ) ) ) ) \ ) ) \ ,L \ CTL Group 1AA Budge Eftimato thm— MM g— ughAddodd 11/20/21 obt. —t Wffi.fi— OB B'Si_u CJ�e Ddvc TOMM finp—rix - 51,175 USF 14 1 C H 0 L A 5 1.11: 11 LL23 SPACE PLAN LEGEND WALL / DOOR TO BE DEMOLISHED C== EXISTING WALL TO REMAIN ® NEW PARTITION EXISTING DOOR Q NEW DOOR Q RELOCATED DOOR CAI T Fnr_ SERVICE CONTRACT THIS SERVICE CONTRACT (this "Contract") is entered into as of the date specified in Paragraph I(f) by and between the Owner identified in Paragraph I (a) and the Contractor identified in Paragraph I (d). 1, DEFINITIONS, As used in this Contract the following terms shall have the following meanings: a. -Landlord" GKI Industrial Chicago I..1C b. "Owner's Billing Address" means 10275 W Higgins Rd, Suite 810, Rosemont, Illinois 60018 c. "Owner's Representative" means Brennan Management Ll..,C d. "Contractor" means Brasco LLC I e. "Contractor's Address" means I t321 Smith Drive, Huntley, It..., 60142 f. "Contract Date" means June 19, 2023 g. "Contract Amount" means $76,800.00 h. "Property" means 1000-1050 Business Center Drive, Mount Prospect, IL., 60056 i. "Work" means the tools, products and/or services that Conti -actor will provide under this Contract, including Exhibit A attached hereto, J. Contract Period (Check one of the following): - (I )T his is a contract for continuing services. The term of the Contract shall be from the Contract Date to (the "Contract Terns"); provided, however, that the Contract Term shall automatically be extended on a month to month basis until the Contract is terminated as provided herein. Owner shall have the right to cancel and terminate this Contract with or without cause at any time upon thirty (30) days' written notice to Contractor, all as more particularly set forth in Paragraph I I of this Contract. In consideration of the proper performance of the Work, Owner agrees to pay Contractor the sum shown in Exhibit A, Payment terms shall be net 30 days. (2) This is a contract for the performance of services as a single event. Service is anticipated to take 90 days to complete and shall commence on the Contract Date. In consideration of Contractor's proper performance of the Work, Owner agrees to pay Contractor the sum shown in Exhibit A. Payment terms shall be net 30 days. (3) This is a contract for performance of services on a periodic basis as requested by Owner front the Contract Date through . . . ............... . . . . ___ . ..... . (the "Service Period"), Owner may request services from time to time from Contractor during the Service Period, In consideration of Contractor's proper performance of the Work requested, Owner agrees to pay Contractor the amount due according to the pricing schedule shown in Exhibit A. 2, SCOPE OF WORK The scope of Work for this Contract is attached hereto as Exhibit A. Any changes or modifications regarding the Work must be in writing and approved by Owner and Contractor. Contractor acknowledges and agrees that the terms and conditions of this Contract will govern the Work in all respects, and in the case of any inconsistency between the provisions of this Contract and Exhibit A, the provisions of this Contract shall govern and control, 3. COMPLIANCE WITH LAW. a. Conduct of Work. Contractor shall perform and provide everything required to complete the Work in a first class, expeditious and workmanlike manner, within the schedule set forth herein and for the contract price or pricing schedule set forth herein, including, without limitation, all supervision, labor, materials, tools and transportation, all in strict accordance with Owner's specifications, generally accepted trade organization guidelines, and all applicable Laws. "Law" or "Laws" means all applicable federal, state, and local laws, statutes, ordinances, rules, regulations, building codes, court orders, and governmental or regulatory agency orders, including the Occupational Safety and Health Act and laws, ordinances and regulations that may be issued and enforced by the Immigration and Naturalization Service. b. Environmental Compliance. Contractor or its agents shall not bring, generate, store, use or release any Hazardous Materials to, on, under, above, from or about the Property (including subsurface soil and ground water) without the prior written consent of Owner. The term "Hazardous Materials" shall include (1) any matter or substance defined as a "hazardous material", "hazardous substance", "hazardous waste", "toxic waste", "toxic material", "toxic substance", or any substance or matter listed or subject to regulation in whole or in part under any part of the Resource Conservation and Recovery Act (RCRA), Toxic Substances Control Act (TOSCA), Comprehensive Environmental Response, Conservation and Liability Act (CERCLA), Occupational Safety and Health Act (OSHA), or any applicable federal, state or local statute, regulation, rule or ordinance, all as amended, or by the Environmental Protection Agency (EPA) or by any federal state or local governmental agency, and (2) biological agents, including mold. To the fullest extent permitted by law, Contractor hereby agrees to indemnify, hold harmless, protect and defend Owner Indemnified Parties, defined below, from and against any and all liabilities, losses, and damages including, but not limited to, damages for the loss or restriction on use of any portion of the Property, judgments, fines, demands, claims, recoveries, deficiencies, cost and expenses including, but not limited to, reasonable attorneys' fees and court costs and all other professional or consultants' expenses, arising out of the negligent or wrongful use, generation, storage, treatment, on or off-site disposal or transportation of Hazardous Materials on, into, from, under, over or about the Property by Contractor, or Contractor's agents, including the cost of any restoration, clean-up or detoxification of the Property during the term or after the expiration of this Contract. 4. CONDUCT OF WORK Contractor shall be required to obtain, at Contractor's sole cost and expense, all permits, licenses, and approvals necessary to perform and complete the Work as required by I-aw. Contractor shall perform the Work in Such a manner as to not interfere with the business operation of Owner or any tenant of Owner. Unless otherwise specified, all materials used by Contractor in performance of the Work shall be new, first quality, and subject to approval of Owner. Contractor shall, if required, furnish satisfactory evidence as to the kind and quality of materials. Contractor shall keep its Work cleaned up as it progresses and at the end of each day, and, upon completion, shall clean the area affected by Contractor's Work and leave it in a ready to occupy condition. If Contractor fails to perform or complete the Work as required by this Contract, Contractor shall be liable to Owner for all losses arising therefrom or related thereto, including, but not limited to, the cost for Owner to complete the Work. In the event other portions of the Property are damaged by Contractor or Contractor's agent, Contractor, at its sole cost and expense, shall promptly repair the damage to the satisfaction of Owner. If Contractor is delayed in the performance of the Work solely by the act, neglect, or default of Owner, or solely by acts of God, strikes, lockouts, unavoidable casualties, or similar matters beyond the control of Contractor, then the time for the completion of the Work shall be extended by the number of days the Contractor is thereby delayed, but no monetary compensation shall be payable to Contractor by Owner for such delay. In no event will Contractor be entitled to a time extension unless a claim therefore is filed in writing with Owner within five (5) days of the commencement of such delay. S. LEASED OR RENTED EQUIPMENT. In the event that Contractor rents or leases equipment to complete and/or perform the Work, Contractor agrees that it shall be solely responsible for such renteddeased equipment including, but not limited to, liability, fire, theft, vandalism and use by any unauthorized persons. Contractor shall indemnify, defend and hold Owner Indemnified Parties, defined below, harmless from and against any and all claims relating to the possession, use or presence on the job site of such rented/leased equipment, Notwithstanding the fact that this Contract ieexecuted uyoythe Contract Date, the parties acknowledge that tothe extent any portion oythe Work was performed prior 0mthe Contract Date, all of such Work shall be governed by the ternis and conditions of this Contract and shall be deemed to be a part of the Work. 7. CONDITIONS TO PAYMENT. All invoices shall 6csubmitted to Owner a1Owner's Billing Address. Final payment shall not relieve Contractor of responsibility for tmo)ty` defective, cvrecalled materials orworkmanship connected with the Work. If any claims arising out of or in connection with Contractor's performance of the Work are outstanding at the time any payment becomes due, Owner may withhold the amount of such claims until they are resolved. Contractor shall furnish with each invoice statutory lien waiver and release forms executed byContractor and all other individuals and firms which may have lien rights. Any payment made under this Contract shall not bcconstrued asevidence oy acceptance ofany part oythe Work. Contractor shall perform the Work at the contract price or the pricing schedule contained herein. and the contract price and/or pricing schedule shall not be subject to increase without the written consent ofOwner. 8. MECHANIC'S LIEN. Provided Contractor has been paid the uumedue |oContractor under this Contract, Contractor shall have no right or interest in the Property and hereby waives and releases all liens, stop notice rights or rights of lien under any present or future law, for work. labor, or services perfortned or materials or documents furnished pursuant to the Work and this Contract. Contractor agrees topay promptly for all murcriu|o furnished or labor performed in connection with the Work performed pursuant tothis Contract. Contractor agrees to indemnifv, defend, satisfy and hold Owner Indemnified Parties harmless from and against, and tokeep the Property free and clear of, any and all claims, liens and liabilities (including costs and expenses ofdefending such claims) ofwhatever kind and nature arising or alleged to have arisen from any claim by any laborer, materialman, supplier, consultant, or subcontractor for materials furnished or labor performed in connection with the Work. In that regard, Contractor agrees to execute such affidavits, lien waivers and similar documents as may be required by Owner incident to the making of payments ,oConti-actor under this Conti -act. Y. %xU5P0TE5. Should a dispute arise during the performance of the Work between Contractor and Owner concerti ing the Work, for which there is no contractual remedy, Cootracrormha|i continue the Work in accordance with this Contract; pvovid*d, however, that Owner shall continue to make payments for services in accordance with this Contract for that portion of the Work not in dispute. Failure of Contractor to proceed with the Work shall constitute umaterial default under this Contract. 0. INDEMNIFICATION. Tnthe fullest extent permitted 6yLaw, Contractor shall indemnify, defend and hold harmless Owner Indemnified Parties front and against any and all |iu6i\idem. Joimo` demands, causes ofaction, administrative or regulatory proceedings, liens, settlements, judgments and expenses, including, but not limited to, reasonable ui\urncyo' fees and investigative costs, directly or indirectly resulting 6nm bodily injury, personal iujury, death or property damage, sustained or alleged to have been sustained by any business, organization or person, including employees of Contractor and any subcontractors, arising out of or in connection with this Contract or the performance of the Work by Contractor, its agents, servants, employees, or independent contractors retained or hired by Contractor. Contractor shall promptly pay over, reimburse and make good LoOwner Indemnified Parties all yumsoymoney that Owner Indemnified Parties ykoD pay, orcause to be paid, or become liable Lopay, by any reason ofContractor's indemnification obligations under this Contract. This indemnification also includes costs, losses or damages resulting from, or alleged to result from, either active or passive negligence of any Owner Indemnified Party concurrent with that of Contractor or others, but, except with respect to bodily injury claims brought against Owner Indemnified Parties by employees of Contractor, where employees are prevented by workers' compensation uraruros from alleging Contractor negligence, shall not apply to instances oythe actual, an|c negligence of any Uvvncr Indemnified Purty, nor shall it apply in any instance to loss attributable to the in -fact willful misconduct on the part oyany Owner Indemnified Party. Each Owner Indemnified Party shall have the right to participate in the defense of any claim against it that is covered by Contractor's obligations hereunder, including the right to retain its own legal counsel ofits choice. "Owner Indemnified Party" or "Owner Indemnified Parties" means Owner, its affiliates, mcmhcre, prinuipu|a, beneficiaries, purtnera, ofhccm, directors, trustees, employees. lender and agents. l|. TERMINATION OF CONTRACT. Owner shall have the right to cancel and ten-ninate this Contract immediately upon written notice to Contractor if, in Owner's solejudgment, Contractor has disregarded any Laws or neglected to carry out the Work, Owner shall also have the right, with orwithout cause, toterminate the Contract utany time upon thirty (]0)days' written notice to Contractor. In the event Owner cancels orterminates this Contract, Contractor shall be paid for all Work perfbnnedtkroueh the effective date ofthe cancellation ortennino1ion. Such payment xhu|| he Contractor's sole remedy for such termination or cancellation, and Contractor hereby specifically waives any and all claims Contractor may have that such termination or cancellation was wrongful in any respect. 12. WARRANTY. Contractor fully warrants amdguarmkeesthat all products supplied inconnection with the Work and this Contract are new and ofgood workmanship and quality, free offaults and defects. Upon written notice from Owner that products orworkmanship are not satisfactory or defective, Contractor agrees, within ten (10) days after notice, to begin and proceed with reasonable diligence to repair or replace said products in a satisfactory manner at its own cost and expense. If Contractor fails to proceed as above stated, Owner, at its option and without further notice to Contractor, may proceed inarrange for such work iobedone u1the expense nfContractor, and Contractor specifically agrees topay for same within five (5)days ofreceipt ofbill from Owner orOwner may deduct payment for such work from monies not yet paid to Contractor. 13. INSURANCE. Contractor agrees to maintain in full 6voc and effect, in form and content and with insurers approved by Owner, and at Contractor's sole cost and expense, the following policies of insurance: n. VVovkvrm` compensation insurance in compliance with the laws ofthe state where the property is located, including employer's liability lnyumnoc in an amount not \emn than $500`000 each accident or injury, $500,000 each person for disease and $500.000aggregate for disease. b. Commercial general liability insurance coverage insuring all operations by or on behalf of Contractor, with defense costs in addition to limits. and including coverage for premises and operations, products and completed operations, contractual liability, bodily injury liability and personal and advertising injury, broad fbon property damage, without exclusion for explosion, collapse or underground hazards, in an amount not less than S 1,000,000.00 per occurrence and S2,000,000.00 in the aggregate and $2,000,000 products and completed operations aggregate, This insurance policy ohm|| he primary and non-contributory and not excess over any insurance policy uun|ed by Owner and, to the extent permitted by law, Owner shall be named oaunadditional insured for loss arising from Contractor's operations and completed operations for ao long uathe additional insured may be exposed to liability arising from Contractor's work. c. Commercial uo|om*h|le liability insurance on all owned, nom-ovvned,hired or leased automotive equipment used in the performance of the Work in amounts not less than $1,000,000.00 combined single unit for bodily injury and property damage. d.Umbrella liability insurance with a limit of not less than $1,000,000 each occurrence and shall be excess ofunderlying commercial general, auto and employer's liability. The policy shall he concurrent with and follow form of underlying insurance, including additional insured provisions, and shall be primary and noncontributing with any insurance maintained bythe additional insured. e. Contractor's pollution liability or equivalent coverage in an amount not less than $1,000,000 each occurrence ifContractor isengaged for environmental abatement or remediation work or if Contractor's work will involve the use, treatment, storage, removal ortransport ofHazardous Materials at, toorfrom the Property. The policy must heunterms satisfactory to Owner, including additional insured status for Owner, where available, [ Professional liability insurance in limits not less than $1.888.800 covering professional services performed in connection with the Work if the Work includes professional design or engineering services by professionals on staff orunder aconsulting agreement, The policy must continue in f6oc for not less than three (3) years after completion ofthe Work. This coverage form may he"claims made" and include defense expense within the limit ofliability. Contractor may carry such other insurance as it deems necessary, but any such insurance must include waiver o[the insuon'rightsmfsubrogation infavor ofOwner. Contractor shall submit toOwner endorsements k/ Contractor's coverage in form and substance satisfactory /oOwner ouevidence o[the coverages required in this section. Owner has the right mapprove the amount ofany deductible. The general liability insurance policy shall further provide for severability of interests wherein Contractor is insured against any claims that may bcbrought by the additional insured and the aggregate limit shall apply to Owner's Property. Each policy of insurance must contain an endorsement that requires the insurer to give Owner at least 30 days' advance written notice of any change, cancellation, termination or lapse of insurance. Should any policy expire and Contractor fail to immediately procure other insurance, Owner reserves the right to procure such insurance and to charge Contractor for such costs and/or deduct the cost from any sum due Contractor under this Contract. All policies required by this Contract shall be written by insurance carriers licensed to do business in the state in which Contractor is doing business, rated no less than A- Vill by the most recent edition of Best's Key Rating Guide, and otherwise reasonably satisfactory to Owner. Self-insurance of any coverage, or part thereof, is acceptable only upon written consent of Owner and shall be entirely for the account of Contractor, with Contractor waiving all rights of recovery against Owner for any sums expended by Contractor. All policies shall provide that the insurer unequivocally waives any right of subrogation against Owner. 14. GENERAL PROVISIONS. a. Binding Contract. This Contract represents the entire agreement between Owner and Contractor and supersedes all prior negotiations. No oral agreements have been made other than as set forth in this Contract and Contractor acknowledges that no representations or warranties of any kind or nature not specifically set forth herein have been made. Neither this Contract nor the Work can be modified or changed in any way other than by a writing signed by Contractor and Owner. This Contract shall be governed by the laws of the state where the Property is located. Owner and Contractor agree that this Contract is to be binding upon their respective successors, permitted assigns, heirs, executors and administrators. The liability of Owner hereunder is limited to the equity interest in the Property and in no event shall any other property or assets of Owner be subject to any claim arising out of this Contract or the Work. b. Assignment. Contractor shall not assign or transfer any interest in this Contract either voluntarily or involuntarily or by operation of law without the written consent of Owner. Owner may assign and/or transfer its interest in this Contract at any time without the consent of Contractor, including, without limitation, to a lender as collateral security for a loan. Upon such assignment (other than a collateral assignment), Owner shall be relieved of any and all further obligations to Contractor under this Contract, and Contractor agrees to look solely to the assignee or transferee of this Contract in the event of any default under this Contract. c. Notices. All notices given pursuant to this Contract shall be in writing, and shall be deemed given when personally delivered, sent by overnight courier delivery service, mailed by registered or certified mail, postage prepaid, return receipt requested, to Owner at Owner's Billing Address or to Contractor at Contractor's Address or to such other address as may be specified from time to time by notice given by Owner or Contractor. d. Severability. If any term, covenant, condition or provision of this Contract is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the provisions of this Contract shall remain in full force and effect and shall in no way be affected, impaired or invalidated. e. Survival. All representations, warranties and indemnifications made or given by Contractor herein, together with any and all causes of action and other rights and remedies which Owner may have as a result of breach of any term or condition, representation or warranty of this Contract, shall survive any expiration or termination of this Contract. f. Attorneys' Fees. Should either party hereto bring suit or institute any proceedings to enforce the terms hereof, any judgment awarded shall include court costs and reasonable attorneys' fees to the successful party. g. Status of Contractor. Contractor represents that it is fully licensed in the state where the Property is located, if required by law, and that it has obtained any necessary business licenses for the city or county in which the Property is located. Contractor acknowledges and agrees that it is acting under this Contract solely as an independent contractor, and not as a partner, joint venturer or employee of Owner and shall have no authority to act for or bind or obligate Owner in any manner whatsoever, except only to the extent specifically set forth herein. h. Counterparts. This Contract 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. REMAINDER OF PAGE INTENTIONALLY BLANK IN WITNESS WHEREOF, the parties hereto have caused this Contract to be executed by their duly authorized representatives effective as of the Conti -act Date. GKI Industrial Chicago LLC . . . . . . . . . . . . . . . . By: Brennan Management LLC, an Illinois limited liability company By: Matt, Name: Matt Price CONTRACTOR: Brasco LLC a —t t.- c- 1 ".0 ( W. --- Company By:_ 4 EXHIBIT A �,POpCSAL Si)3W7'I`ED -0 Byenrvin lnv,estment GYCIL11) 18803 11321 SnAth Dr-, Huntley, IL 6o'42 Phone: 847-695-noo Fax: 847-69,5-iio2 Email: infoCa thejam ingexperts.com :/.CC :A OrF,C-.- ""i')IVC I DAE k Lij. 3, 202 1 0 B N A M E H2o ir Is Rd' -c810 ---- — — ------- 1Y S'ATE AND ZIP COCE FAX IUIIS,� P Rosemont. 11, 60018 .1, . ',A A ION -A �: - OA "E OF PL4NS EWA;;. Matt T'lice r, -A' 3023 — -- ------- We hereby submit specifications ar'O estimates for, ,-Vtached is a map showing areas of work. Yeilcm- is rt�,conuiie�ndcd to m.d.1 am.", par 2023. (jrccni Should 'be 11WIed and pav;"d 2,(1- -1 All work qllotld to bclone dr. mi2 the, %ve,-4, and coordtliated with n1allapernent. Any peiiiiits WOUld be M additicm to the quote below. I votes Green is par,-ly budgetaryT. Each cosi be re. -valuated that year with curielit marenal Costs grind isphalt 21" by y f, alld Ofgrirvllllgs --s'Weq) and Prime with SS- I pn.rne tac�: coat. —ActiiLst b&iuis as needed, --Ifi,mll 2" ofcompacted stufacc, asph'alt --Re,"J'Ipe as ------------- � ) ';C'C'pd of"Work %Illilw and 2024� I --Grijid asphalt 2" by miffilig-59,0,06 sT and dispOsing of"giridnio" o'. --Sweq) and prian-with SS- l priwc tad,'. coat. _ - : k qj (L,,, t t %,;s iiis a s r i e e dA --Iiistall 2" of (ompaded saft'ace &sphalt - - R, "', s t I I J)'� as eX 1 Z5 t '-" Budgetal-v cost f(:q thi�s work ----------------- $99,000,00 We Propose hereby to furnish material and labor - complete in accordance with above specifications, for the sum of, . ......... ----------- Payment to be made as follows: Full payrnent to be fe,,zewed ivithin 30 days fforn Invoice date 4,r,y!n,,o!ce discrepancy must be brought to our attention wthm 15 days from the invoice date otherivesethe Invoice will be considered correct and full payrnent,,riust be received within ternis of 30 days Invoices not paid vathm terms are sublect to a 1 5% (18% APP) nionthly charge A/, garanteel to be as spec'fied to be M77"),ate"I III a S'Ub9!8Wi8i orwrn aAny or dei iwioo from aboe speciFicatinns iri,ol. ing extra costs teW be executed only ':I"'� rir'en Order's kYnd "'ilf becor"a an &r ;ra C"Marge Over anf,' iu),1I,e the eVimates I ag'eii'nents sPnkes aCc!deriIs delial,s beyond ojr cootro! 0,ner to ane—ecesss,, -s,,rar?ce Oul we iaPy COtiarLd b, s fonop"Sa!".)o Acceptance of Proposal - i he'Movs olr,,es SDeC,,';cal crtS aoa conditions are, and are heiooy accepted Y,.>u are aiMonzecl to M;, the v,,O* as specified v.,i!lbe ciarle as outlined abo,e .......... Note 7p,S proposal maybe �t r!hdrav, n by us if riot acrePted )vlthin Sgiature Val id T1 u,u (.) 30 2.3 clays Brennan Investment Group 000- 1050 Business Center Dr., Mt. prospect, I Paving e ti \ m -131, all f t i 1 Jg 1 Brennan Investment Group 000- 1050 Business Center Dr., Mt. prospect, I Paving SERVICE CONTRACT THIS SERVICE CONTRACT (this "Contract") is entered into as of the date specified in Paragraph I(f) by and between the Owner identified in Paragraph 1(a) and the Contractor identified in Paragraph 1(d). 1. DEFINITIONS. As used in this Contract the following terms shall have the following meanings: a."Landlord" GKI Industrial Chicago LLC b. "Owner's Billing Address" means 10275 W Higgins Rd, Suite 810, Rosemont, Illinois 60018 c. "Owner's Representative" means Brennan Management LLC d. "Contractor" means Dock and Door National LLC e. "Contractor's Address" means 920 Cedar Ave., St. Charles, 1L., 60174 f "Contract Date" means July 10, 2023 g. "Contract Amount" means $32,806.00 h. "Property" means 1050 Business Center Drive, Mount Prospect, IL., 60056 i."Work" means the tools, products and/or services that Contractor will provide under this Contract, including Exhibit A attached hereto. j. Contract Period (Check one of the following): (])This is a contract for continuing services. The term of the Contract shall be from the Contract Date to _(the "Contract Term"); provided, however, that the Contract Term shall automatically be extended on a month to month basis until the Contract is terminated as provided herein. Owner shall have the right to cancel and terminate this Contract with or without cause at any time upon thirty (30) days' written notice to Contractor, all as more particularly set forth in Paragraph 1 I of this Contract. In consideration of the proper performance of the Work, Owner agrees to pay Contractor the sum shown in Exhibit A. Payment terms shall be net 30 days. X (2) This is a contract for the performance of services as a single event. Service is anticipated to take 90 days to complete and shall commence on the Contract Date. In consideration of Contractor's proper performance of the Work, Owner agrees to pay Contractor the sum shown in Exhibit A. Payment terms shall be net 30 days. (3) This is a contract for performance of services on a periodic basis as requested by Owner frog the Contract Date through (the "Service Period"). Owner may request services from time to time from Contractor during the Service Period. In consideration of Contractor's proper performance of the Work requested, Owner agrees to pay Contractor the amount due according to the pricing schedule shown in Exhibit A. 2. SCOPE OF WORK. The scope of Work for this Contract is attached hereto as Exhibit A. Any changes or modifications regarding the Work must be in writing and approved by Owner and Contractor.. Contractor acknowledges and agrees that the terms and conditions of this Contract will govern the Work in all respects, and in the case of any inconsistency between the provisions of this Contract and Exhibit A, the provisions of this Contract shall govern and control 3. COMPLIANCE WITH LAW. a. Conduct of Work. Contractor shall perform and provide everything required to complete the Work in a first class, expeditious and workmanlike manner, within the schedule set forth herein and for the contract price or pricing schedule set forth herein, including, without limitation, all supervision, labor, materials, tools and transportation, all in strict accordance with Owner's specifications, generally accepted trade organization guidelines, and all applicable Laws. "Law" or "Laws" means all applicable federal, state, and local laws, statutes, ordinances, rules, regulations, building codes, court orders, and governmental or regulatory agency orders, including the Occupational Safety and Health Act and laws, ordinances and regulations that may be issued and enforced by the Immigration and Naturalization Service. b. Environmental Compliance. Contractor or its agents shall not bring, generate, store, use or release any Hazardous Materials to, on, under, above, from or about the Property (including subsurface soil and ground water) without the prior written consent of Owner. The teen "Hazardous Materials" shall include (1) any matter or substance defined as a "hazardous material", "hazardous substance", "hazardous waste", "toxic waste", "toxic material", "toxic substance", or any substance or matter listed or subject to regulation in whole or in part under any part of the Resource Conservation and Recovery Act (RCRA), Toxic Substances Control Act (TOSCA), Comprehensive Environmental Response, Conservation and Liability Act (CERCLA), Occupational Safety and Health Act (OSHA), or any applicable federal, state or local statute, regulation, rule or ordinance, all as amended, or by the Environmental Protection Agency (EPA) or by any federal state or local governmental agency, and (2) biological agents, including mold. To the fullest extent permitted by law, Contractor hereby agrees to indemnify, hold harmless, protect and defend Owner Indemnified Parties, defined below, from and against any and all liabilities, losses, and damages including, but not limited to, damages for the loss or restriction on use of any portion of the Property,judgments, fines, demands, claims, recoveries, deficiencies, cost and expenses including, but not limited to, reasonable attorneys' fees and court costs and all other professional or consultants' expenses, arising out of the negligent or wrongful use, generation, storage, treatment, on or off-site disposal or transportation of Hazardous Materials on, into, from, under, over or about the Property by Contractor, or Contractor's agents, including the cost of any restoration, clean-up or detoxification of the Property during the term or after- the expiration of this Contract. 4. CONDUCT OF WORK. Contractor shall be required to obtain, at Contractor's sole cost and expense, all permits, licenses, and approvals necessary to perform and complete the Work as required by Law. Contractor shall perform the Work in such a manner as to not interfere with the business operation of Owner or any tenant of Owner. Unless otherwise specified, all materials used by Contractor in performance of the Work shall be new, first quality, and subject to approval of Owner. Contractor shall, if required, furnish satisfactory evidence as to the kind and quality of materials. Contractor shall keep its Work cleaned up as it progresses and at the end of each day, and, upon completion, shall clean the area affected by Contractor's Work and leave it in a ready to occupy condition. If Contractor fails to perform or complete the Work as required by this Contract, Contractor shall be liable to Owner for al l losses arising therefrom or related thereto, including, but not limited to, the cost for Owner to complete the Work. In the event other portions of the Property are damaged by Contractor or Contractor's agent, Contractor, at its sole cost and expense, shall promptly repair the damage to the satisfaction of Owner. If Contractor is delayed in the performance of the Work solely by the act, neglect, or default of Owner, or solely by acts of God, strikes, lockouts, unavoidable casualties, or similar matters beyond the control of Contractor, then the time for the completion of the Work shall be extended by the number of days the Contractor is thereby delayed, but no monetary compensation shall be payable to Contractor by Owner for such delay. In no event will Contractor be entitled to a time extension unless a claim therefore is filed in writing with Owner within five (5) days of the commencement of such delay. 5. LEASED OR RENTED EQUIPMENT. In the event that Contractor rents or leases equipment to complete and/or perform the Work, Contractor agrees that it shall be solely responsible for such rented/leased equipment including, but not limited to, liability, fire, theft, vandalism and use by any unauthorized persons. Contractor shall indemnify, defend and hold Owner Indemnified Parties, defined below, harmless from and against any and all claims relating to the possession, use or presence on the job site of such rented/leased equipment. 6. SERVICES PRIOR TO EXECUTION Notwithstanding the fact that this Contract is executed as of the Contract Date, the parties acknowledge that to the extent any portion of the Work was performed prior to the Contract Date, all of such Work shall be governed by the terms and conditions of this Contract and shal I be deemed to he a part of the Work. 7. CONDITIONS TO PAYMENT. Ali invoices shall be submitted to Owner at Owner's Billing Address. Final payment shal I not relieve Contractor of responsibility for faulty, defective, or recalled materials or workmanship connected with the Work. If any claims arising out of or in connection with Contractor's performance of the Work are outstanding at the time any payment becomes due, Owner may withhold the amount of such claims until they are resolved. Contractor shall furnish with each invoice statutory lien waiver and release forms executed by Contractor and al l other individuals and firms which may have lien rights. Any payment made under this Contract shall not be construed as evidence of acceptance of any part of the Work. Contractor shal l perform the Work at the contract price or the pricing schedule contained herein, and the contract price and/or pricing schedule shall not be subject to increase without the written consent of Owner. 8. MECHANIC'S LIEN. Provided Contractor has been paid the sums due to Contractor under this Contract, Contractor shall have no right or interest in the Property and hereby waives and releases all liens, stop notice rights or rights of lien under any present or future law, for work, labor, or services performed or materials or documents furnished pursuant to the Work and this Contract. Contractor agrees to pay promptly for all materials furnished or labor performed in connection with the Work performed pursuant to this Contract. Contractor agrees to indemnify, defend, satisfy and hold Owner indemnified Parties harmless from and against, and to keep the Property free and clear of, any and al I claims, liens and liabilities (including costs and expenses of defending such claims) of whatever kind and nature arising or alleged to have arisen from airy claim by airy laborer, materialman, supplier, consultant, or subcontractor for materials furnished or labor performed in connection with the Work. In that regard, Contractor agrees to execute such affidavits, lien waivers and similar documents as may be required by Owner incident to the making of payments to Contractor under this Contract. 9. DISPUTES. Should a dispute arise during the performance of the Work between Contractor and Owner concerning the Work, for which there is no contractual remedy, Contractor shal l continue the Work in accordance with this Contract; provided, however, that Owner shall continue to make payments for services in accordance with this Contract for that portion of the Work not in dispute. Failure of Contractor to proceed with the Work shal l constitute a material default under this Contract. 10. INDEMNIFICATION. To the fullest extent permitted by Law, Contractor shall indemnify, defend and hold harmless Owner Indemnified Parties from and against any and all liabilities, claims, demands, causes of action, administrative or regulatory proceedings, liens, settlements, judgments and expenses, including, but not limited to, reasonable attorneys' fees and investigative costs, directly or indirectly resulting from bodily injury, personal injury, death or property damage, sustained or alleged to have been sustained by any business, organization or person, including employees of Contractor and any subcontractors, arising out of or in connection with this Contract or the performance of the Work by Contractor, its agents, servants, employees, or independent contractors retained or hired by Contractor. Contractor shal l promptly pay over, reimburse and snake good to Owner Indemnified Parties al I SLIMS of money that Owner Indemnified Parties shall pay, or cause to be paid, or become liable to pay, by any reason of Contractor's indemnification obligations under this Contract. This indemnification also includes costs, losses or damages resulting from, or alleged to result from, either active or passive negligence of any Owner Indemnified Party concurrent with that of Contractor or others, but, except with respect to bodily injury claims brought against Owner Indemnified Parties by employees of Contractor, where employees are prevented by workers' compensation statutes from alleging Contractor negligence, shall not apply to instances of the actual, sole negligence of any Owner Indemnified Party, nor shall it apply in any instance to loss attributable to the in -fact willful misconduct on the part of any Owner Indemnified Party. Each Owner Indemnified Party shall have the right to participate in the defense of any claim against it that is covered by Contractor's obligations hereunder, including the right to retain its own legal counsel of its choice. "Owner Indemnified Party" or "Owner Indemnified Parties" means Owner, its affiliates, members, principals, beneficiaries, partners, officers, directors, trustees, employees, lender and agents. IL TERMINATION OF CONTRACT. Owner shall have the right to cancel and terminate this Contract immediately upon written notice to Contractor if, in Owner's sole judgment, Contractor has disregarded any Laws or neglected to carry out the Work. Owner shall also have the right, with or without cause, to terminate the Contract at any time upon thirty (30) days' written notice to Contractor. In the event Owner cancels or terminates this Contract, Contractor shall be paid for all Work performed through the effective date of the cancellation or termination. Such payment shall be Contractor's sole remedy for such termination or cancellation, and Contractor hereby specifically waives any and all claims Contractor may have that such termination or cancellation was wrongful in any respect. 12. WARRANTY. Contractor fully warrants and guarantees that all products supplied in connection with the Work and this Contract are new and of good workmanship and quality, free of faults and defects. Upon written notice from Owner that products or workmanship are not satisfactory or defective, Contractor agrees, within ten (10) days after notice, to begin and proceed with reasonable diligence to repair or replace said products in a satisfactory manner at its own cost and expense. If Contractor fails to proceed as above stated, Owner, at its option and without further notice to Contractor, may proceed to arrange for such work to be done at the expense of Contractor, and Contractor specifically agrees to pay for same within five (5) days of receipt of bill from Owner or Owner may deduct payment for such work from monies not yet paid to Contractor. 13. INSURANCE. Contractor agrees to maintain in full force and effect, in form and content and with insurers approved by Owner, and at Contractor's sole cost and expense, the following policies of insurance: a. Workers' compensation insurance in compliance with the laws of the state where the property is located, including employer's liability insurance in an amount not less than $500,000 each accident or injury, $500,000 each person for disease and $500,000 aggregate for disease. b. Commercial general liability insurance coverage insuring all operations by or on behalf of Contractor, with defense costs in addition to limits, and including coverage for premises and operations, products and completed operations, contractual liability, bodily injury liability and personal and advertising injury, broad form property damage, without exclusion for explosion, collapse or underground hazards, in an amount not less than $1,000,000.00 per occurrence and $2,000,000.00 in the aggregate and $2,000,000 products and completed operations aggregate. This insurance policy shall be primary and non-contributory and not excess over any insurance policy carried by Owner and, to the extent permitted by law, Owner shall be named as an additional insured for loss arising from Contractor's operations and completed operations for as long as the additional insured may be exposed to liability arising from Contractor's work. c. Commercial automobile liability insurance on all owned, non -owned, hired or leased automotive equipment used in the performance of the Work in amounts not less than $1,000,000.00 combined single unit for bodily injury and property darnage. d. Umbrel la liability insurance with a limit of not less than$1,000,000 each occurrence and shall be excess of underlying commercial general, auto and employer's liability. The policy shall be concurrent with and follow form of underlying insurance, including additional insured provisions, and shall be primary and noncontributing with any insurance maintained by the additional insured. e Contractor's pollution liability or equivalent coverage in an amount not less than $1,000,000 each occurrence if Contractor is engaged for environmental abatement or remediation work or if Contractor's work will involve the use, treatment, storage, removal or transport of Hazardous Materials at, to or from the Property. The policy must be on terms satisfactory to Owner, including additional insured status for Owner, where available. f. Professional liability insurance in limits not less than $1,000,000 covering professional services performed in connection with the Work if the Work includes professional design or engineering services by professionals on staff or under a consulting agreement. The policy must continue in force for not less than three (3) years after completion of the Work. This coverage form may be "claims made" and include defense expense within the limit of liability. Contractor may carry such other insurance as it deems necessary, but any such insurance must include a waiver of the insurers' nights of subrogation in favor of Owner. Contractor shal I submit to Owner endorsements to Contractor's coverage in form and substance satisfactory to Owner as evidence of the coverages required in this section. Owner has the right to approve the amount of any deductible. The general liability insurance policy shall further provide for severability of interests wherein Contractor is insured against any claims that may be brought by the additional insured and the aggregate limit shall apply to Owner's Property. Each policy of insurance must contain an endorsement that requires the insurer to give Owner at least 30 days' advance written notice of any change, cancellation, termination or lapse of insurance. Should any policy expire and Contractor fail to immediately procure other insurance, Owner reserves the right to procure such insurance and to charge Contractor for such costs and/or deduct the cost from any sum due Contractor under this Contract. All policies required by this Contract shall be written by insurance carriers licensed to do business in the state in which Contractor is doing business, rated no less than A- VIII by the most recent edition of Best's Key Rating Guide, and otherwise reasonably satisfactory to Owner. Self-insurance of any coverage, or part thereof, is acceptable only upon written consent of Owner and shall be entirely for the account of Contractor, with Contractor waiving all rights of recovery against Owner for any sums expended by Contractor. All policies shall provide that the insurer unequivocally waives any right of subrogation against Owner. 14. GENERAL PROVISIONS. a. Binding Contract. This Contract represents the entire agreement between Owner and Contractor and supersedes all prior negotiations. No oral agreements have been made other than as set forth in this Contract and Contractor acknowledges that no representations or warranties of any kind or nature not specifically set forth herein have been made. Neither this Contract nor the Work can be modified or changed in any way other than by a writing signed by Contractor and Owner. This Contract shat l be governed by the laws of the state where the Property is located. Owner and Contractor agree that this Contract is to be binding upon their respective successors, permitted assigns, heirs, executors and administrators. The liability of Owner hereunder is limited to the equity interest in the Property and in no event shat l any other property or assets of Owner be subject to any claim arising out of this Contract or the Work. b. Assignment. Contractor shall not assign or transfer any interest in this Contract either voluntarily or involuntarily or by operation of law without the written consent of Owner. Owner may assign and/or transfer its interest in this Contract at any time without the consent of Contractor, including, without limitation, to a lender as collateral security for loan. Upon such assignment (other than a collateral assignment), Owner shall be relieved of any and all further obligations to Contractor under this Contract, and Contractor agrees to look solely to the assignee or transferee of this Contract in the event of any default under this Contract. c. Notices. All notices given pursuant to this Contract shall be in writing, and shall be deemed given when personally delivered, sent by overnight courier delivery service, mailed by registered or certified mail, postage prepaid, return receipt requested, to Owner at Owner's Billing Address or to Contractor at Contractor's Address or to such other address as may be specified from time to time by notice given by Owner or Contractor. d. Severability. If any term, covenant, condition or provision of this Contract is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the provisions of this Contract shat l remain in ful l force and effect and shall in no way be affected, impaired or invalidated. e. Survival. All representations, warranties and indemnifications made or given by Contractor herein, together with any and a) I causes of action and other rights and remedies which Owner may have as a result of breach of any term or condition, representation or warranty of this Contract, shall survive any expiration or termination of this Contract. f. Attorneys' Bees. Should either party hereto bring suit or institute any proceedings to enforce the terms hereof, any judgment awarded shall include court costs and reasonable attorneys' fees to the successful party. g. Status of Contractor. Contractor represents that it is fully licensed in the state where the Property is located, if required by law, and that it has obtained any necessary business licenses for the city or county in which the Property is located. Contractor acknowledges and agrees that it is acting under this Contract solely as an independent contractor, and not as a partner, joint venturer or employee of Owner and shall l have no authority to act for or bind or obligate Owner in any manner whatsoever, except only to the extent specifically set forth herein. h. Counterparts. This Contract 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. REMAINDER OF PAGE INTENTIONALLY BLANK IN WITNESS WHEREOF, the parties hereto have caused this Contract to be executed by their duly authorized representatives effective as of the Contract Date. GKI Industrial Chicago LLC An Illinois limited liability company By: Brennan Management LLC, an Illinois limited liability company By: Matt pat'c"P- Name: Matt Price Title: Property Manager, as agent for Landlord CONTRACTOR: Dock and Door National LLC a A! e y,, c4s L t, <�- - Company By:_ Name: -.- Title:. EXHIBIT A SOLD TO: Brennan Investment Dock and Door National, LLC 920 Cedar Ave. St. Charles, IL 60174 Fax: 630-299-4480 Phone: 630-549-5360 Date: 6/21/2023 Mailing Address: P.O. Box 3338 St. Charles, IL 60174 "Entry and Exit Services for Industrial Assets" 9450 W. Bryn Mawr Ave. ADDRESS: 1750 CITY: —Rosemont IL ATTN: Matt Price ADDRESS: 1050 Business Center CITY: Mt Prospect, IL EMAIL: WE WILL FURNISH TOOLS, LABOR AND MATERIAL TO PERFORM THE FOLLOWING WORK FOR THF. AMOUNT SHOWN, INCLUDING ALL TAX AND FREIGHT Proposal Number — BREN2023062101 — 1050 Business Center — Inspection 1. General Service $400 a. Perform a one-time general service on the following equipment: i. (1) Operated Drive-in Doors ii. (3) Manual Dock Doors b. General Service includes inspection, lubrication, minor repairs and adjustment c. Pricing assumes clear access to all consecutive dock positions at a time in ( I C011tilILIOUS mobilization 2. Drive in Doors a. Remove and replace 12' bottom section b. Remove and replace 12' 1" intennediate section c. Remove and replace lower left track and back angle — 13'4 d. Remove and replace (2) sides of brown molded weather seal 3. Dock Doors $4,130 a. Remove and replace (3) swing arm lights b. Remove and replace (2) 9' bottorn sections i. Position: 1, 3 c. Remove and replace (2) lower left tracks and back angle i. Position: 1, 2 d. Remove and replace (2) lower right tracks and back angle i. Position: 2, 3 e. Remove and replace lower right back angle i. Position: I f. Remove and replace (2) sides of brown molded weather seal i. Position: 2, 3 SOLD TO: ADDRESS: CU}~: ATTN: Dock and Door National, LLC q20Cedar Ave. St. Charles, U 60174 Fax: 630-299-4480 Phone: 630-549-5960 Date: 6/21/2003 Mailing _dress: P.O. Box 338 St. Charles, IL 60174 u��k�*�� K�^� ��~* ��K��^�� ^�� UU�r0K��*r��8 �k�su�tsn "Entry � _ Exit _ - Industrial _ - Brennan Investment SHIP TO: Vacancy 9450 W. Bryn Mawr Ave. #750 ADDRESS: 1050 Business Center Rosemont IL CITY: Mt Prospect, IL Maft Price EMAIL: mUrice2brennanlic.com 4. Dock Levelers $21,778 a. Remove (2)dock levelers and dispose offsite h. Remove and replace (2)rear curb angles and (2)front curb angles i. Saw cut and remove dmouAedconcrete/steel curbs ii. Form and pour new concrete ay needed — includes new steel c. Furnish and install (2) McGuire 35k dock lovo|om i. Includes new weather seal i|. Pit size: 73xD7x20(Narrow Pits) d. Q#noveand replace (2)pair ofbumpers i. All for Position: 2/t3 ~^ Dock Seals $4,248 u. Remove and replace (2)compresmion style dock eeu|e i. 9`x\0` precast open ing ii 22 oz. base vinyl with 8"40 oz. wear pleats formoxixnum durability iii. Velcro split head curtain —No pull ropes iv. Full yellow guide stripe v. 12" total bumper p jmcLimn vi Includes disposal ofexisting 6. Hollow Metal Doors $6,114 u. Remove and replace CD3`x 7` BMD i. 2 - 10 Gage 3070 welded galvanneal fhoncm ii. 2 18 Gage 3070 galvanneal insu|uted doors Ili. 2 Sets ofhinges iv. 2'4l6o|heavy duty door closers v. 2 -Thresholds vi. 2- Weather stripping sets and door sweeps vii 2' Drip cap viii | - New mortise lock ix. l ' Transfer mortise lock x. Includes saw cutting for removal xi. Paint option add $295/cm Dock and Door National, LLC 920 Cedar Ave. St. Charles, IL 60174 Fax: 630-299-4480 Phone: 630-549-5360 Date: 6/21/2023 Mailing Address: P.O. Box 3338 St. Charles, IL 60174 "Entry and Exit Services for Industrial Assets" SOLD TO: Investment SHIP TO: Vacancy -Brennan 9450 W. Bryn Mawr Ave. ADDRESS: A750 ADDRESS: 1050 Business Center CITY: Rosemont IL CITY: Mt Prospect, IL ATTN: Matt Price EMAIL: morice(ftrennanl1c.com Due to current market conditions and material shortages, pricing is subject to change" Lead times are estimated and can vary on a daily basis** Approved by: Date: All Permits by others, unless specifically listed and billed separately on a Time and Cost basis Proposal Pricing is good for (7) days from date submitted. All Pricing dependent on quantities stated The above price does not include glazing, painting, or electrical wiring, unless specifically included above. Payment terms: Progress billing for above services, 1% 15, Net 30 Past due accounts will be charged 2% per month on unpaid balances (24% annual rate) Proposal is contingent upon strikes, accidents, inclement weather, or any condition beyond Our control. We carry Manufacturer's, Contractor's, Employer's Liability, and Workman's Compensation Insurance. All wiring, conduit, and plumbing (Sprinkling) by others unless specified Take down and haul away of existing materials included Prices include all Non -Union Labor, materials, applicable tax, and freight. Union labor may incur an additional charge. Hidden obstructions (including underground utilities) are specifically excluded from the scope of this work. Unless specifically noted in this proposal, cost for any bonding and / or OCIP plans is not included. Mechanical Install, if listed in this proposal and not specifically noted otherwise is limited to the following: Mechanical install of door tracks, roll /head assembly, motor, & fabric / insulated panels. Install to be performed on an opening prepared by others and ready to accept equipment without modification to the openings or doors, and after concrete flooring and approach installation. All electrical by others. Includes wiring, termination, and mechanical installation of the control panel to motor, disconnects, limit switches and any activators. Electrical work, if included in this proposal and not specifically noted otherwise is limited to the following: Please note that Dock and Door National LLC is not responsible for the installation or coordination of any auxiliary controls, interlocks, or activation systems provided by others. Rigid conduit is available at an additional cost. i) Unless specifically included In this proposal all obstructions to be removed by owner/tenant ii) Installation during normal business hours (M -F 7:00 am to 5:00pm). iii) Door and leveler area to be clear of traffic during installation Use of a fork truck, supplied d by others, required. Unloading at job site by others. Additional jamb work, structural enhancements, wall reinforcements, or any other type of modification to the mounting surface or opening will be performed at Dock and Door National LLC's sole option and at additional cost. Equipment quoted per specifications outlined in this proposal. Differing specifications, drawings, or requirements may be supplied at Dock and Door National LLC's sole option. Changes in specifications, options, requirements, etc. will be at additional cost. To ensure timely installation, Purchaser is responsible for delays caused by, but not limited to: i) Moving or removal of racking ii) Obstructing trucks or trailers iii) Ongoing business operations B R E hJ N A fiJ II I N V E S T G R O U P Ownership Entity: Gill Industrial Chicago Limit requirements: Certificate on Insurance Requirements Additional insured: Illinois I&L Venture, LLC Brennan Management, SIC Indemnification: Yes 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 1050 BUSINESS CENTER DRIVE, 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 1050 Business Center Drive, Mount Prospect, Cook County; 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 431 Kingston Court and legally described as: LOT 301-A IN KENSINGTON CENTER -RESUBDIVISION THIRTEEN, BEING A RESUBDIVISION OF CERTAIN LOTS IN KENSINGTON CENTER -RESUBDIVISION NINE, BEING A RESUBDIVISION OF LOT 301 IN KENSINGTON CENTER - PHASE THREE -B, BEING A SUBDIVISION IN PARTH OF THE NORTHWEST 1/4 OF SECTION 35; ALSO RESUBDIVISION OF LOT 401 IN KENSINGTON CENTERPHASE FOUR, BEING A SUBDIVISION OF THE NORTHEAST 1/4 OF SECTION 35, ALL IN TOWNSHIP 42 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT RECORDED AND FILED FEBRUARY 1, 1984 AS DOCUMENTS 26952608 AND LR3353303, IN COOK COUNTY, ILLINOIS Property Index No. 03-35-104-058-0000; and 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 after its passage and approval in the manner provided by law. AYES: NAYS: ABSENT: PASSED and APPROVED this 6th day of February 2024. Paul Wm. Hoefert Mayor Karen M. Agoranos Village Clerk