ORDINANCE FOR RELEASE OF USE RESTRICTION COVENANTS
WHEREAS, on July 10, 1996 the City Council of the City of Chicago ("City Council") passed a certain ordinance (C.J. pp. 25338, 25341-44), which ordinance provided for an industrial program ("Industrial Program") street vacation (the "1996 Vacation") of a 15.36 foot wide portion of W. Kinzie Street between N. Aberdeen Street and N. Carpenter Street; and
WHEREAS on September 10, 1997 the City Council passed a certain ordinance (C.J. pp. 51873, 51875-77, 51879), which ordinance provided for an Industrial Program street vacation (the "1997 Vacation"; the 1996 Vacation and the 1997 Vacation, collectively, the "Vacations") of a 17.64 wide portion of W. Kinzie Street between N. Aberdeen Street and N. Carpenter Street (the preceding two locations being collectively known as the "Subject Properties"); and
WHEREAS, each of the vacation ordinances identified in the preceding recitals (together, the "Vacation Ordinances") provided that the Vacations of the Subject Properties were conditioned upon restrictive use covenants running with the land ("Restrictive Use Covenants"), that required the Subject Properties be used only for "manufacturing (including production, processing, cleaning, servicing, testing and repair) of materials, goods or products only and for those structures and additional uses which are reasonably necessary to permit such manufacturing use including the location of necessary facilities, storage, employee and customer parking, and other similar uses and facilities"; and
WHEREAS, the Restrictive Use Covenants associated with the Vacations were recorded with the Office of the Cook County Recorder of Deeds on September 27 1996 as Document Number 96738962, and December 9, 1997 as Document Number 97925318 (respectively), and are attached hereto as Exhibit A and Exhibit B; and
WHEREAS, the Vacation Ordinances were recorded on September 27, 1996 as Document Number 9673861, and on December 9, 1997 as Document...
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