ORDINANCE FOR RELEASE OF USE RESTRICTION COVENANT
WHEREAS, on May 14. 2008 the City Council of the City of Chicago {"City Council") passed that certain ordinance which was published in the Journal of the Proceedings of the City Couhcil for such date at pages 28128 through 28130 (referred to hereafter as the "Vacation Ordinance"), which ordinance provided for an Industrial Program street vacation ("Vacation").of a portion of W. Carroll Avenue; and
WHEREAS, the Vacation Ordinance provided that the Vacation was conditioned upon the recording of a restrictive use covenant running with the land ("Restrictive Use Covenant"), that required the area to be used 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'parktngand other similar uses and facilities"; and
WHEREAS, the Restrictive Use Covenant was recorded an September'10, 2008 with the Office of the. Cook County Recorder of Deeds as Document Number 0825418123; and is attached hereto as Exhibit A; and
WHEREAS, the Vacation Ordinance was recorded on September 10, 2008 with the Office of the Cook County. Recorder of Deeds as Document No. 0825418122, and is attached hereto as Exhibit B. with both Nealey Family Limited Partnership and Pioneer Wholesale Meat Company as the beneficiaries of the Vacation; and
WHEREAS, Nealey Family Limited Partnership ("Developer") has now acquired the title to land previously owned by Pioneer Whole Meat Company, such that it now is the only owner to the lots adjacent to the Vacation area; and
WHEREAS, the Developer intends to assemble its parcels and continue to use the Vacation area as parking; and
WHEREAS, Section 5 of the Vacation Ordinance sets forth that the Restrictive Use Covenant "may be released or abandoned b...
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