City of Madison, Wisconsin | Legislative Information Center
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File #: 53034    Version: 1 Name: 10234 - Center for Industry & Commerce (CIC) Covenants Amendment
Type: Resolution Status: Passed
File created: 8/29/2018 In control: Economic Development Division
On agenda: 9/4/2018 Final action: 9/25/2018
Enactment date: 9/28/2018 Enactment #: RES-18-00710
Title: Authorizing the amendment and restatement of the Declaration of Covenants, Conditions and Restrictions for the Center of Industry & Commerce, to revise and update various provisions contained therein.
Sponsors: Samba Baldeh
Attachments: 1. 10234 Resolution Exhibit A.pdf, 2. 10234 Resolution Exhibit B.pdf
Fiscal Note
The proposed resolution authorizes revisions and updates to the Declaration of Covenants, Conditions and Restrictions for the Center of Industry & Commerce (CIC). No City appropriation is required.
Title
Authorizing the amendment and restatement of the Declaration of Covenants, Conditions and Restrictions for the Center of Industry & Commerce, to revise and update various provisions contained therein.
Body
WHEREAS, The Center for Industry & Commerce L.L.C., previously Declarant under the Declaration, executed The Center for Industry & Commerce Declaration of Covenants, Conditions, and Restrictions for the Center for Industry & Commerce and recorded the same with the Dane County Register of Deeds on March 25, 2003 as Document No. 3677132 (the “Declaration”); and

WHEREAS, the Declaration was amended in 2005 by Amendment to the Center for Industry & Commerce Declaration of Covenants, Conditions, and Restrictions recorded on February 23, 2005 with the Dane County Register of Deeds as Document No. 4023951; and

WHEREAS, Article IV of the Declaration establishes a design review board (the “Design Review Board” or “Design Board”); and

WHEREAS, Article X.A. of the Declaration provides that the Declaration may be amended by a written recorded instrument executed by a majority of the Design Review Board and the Declarant, so long as the Declarant continues to hold any interest in the Project described in the Declaration; and

WHEREAS, Article X.F. permits the assignment of rights from the Declarant to another person or entity, and The Center for Industry & Commerce L.L.C. so assigned its rights as Declarant under the Declaration to the City of Madison (the “City”) by recorded document with the Dane County Register of Deeds as Document No. 5007196; and

WHEREAS, the Declaration was further amended by Second Amendment to Declaration of Covenants, Conditions and Restrictions recorded on July 27, 2017 with the Dane County Register of Deeds as Document No. 53...

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