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<br />0/3 F~-3S I
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<br />WHEREAS, the County of Hall, Nebraska, hereinafter
<br />referred to as "County," is the owner of certain real
<br />property as described in "Exhibit A" which is attached
<br />hereto and incorporated herein by this reference, and
<br />certain personal property as described in "Exhibit B", which
<br />property was acquired as part of the County of Hall,
<br />Nebraska Industrial Development Revenue Bonds, Series A,
<br />Dated November 15, 1973 (Mayhew Products Corp. Project),
<br />hereinafter referred to as the "Project"; and
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<br />WHEREAS, pursuant to the proj ect, County, as Lessor,
<br />entered into a Lease and Agreement with Mayhew Products
<br />Corp., as Lessee, for the lease of the project; which Lease
<br />and Agreement was amended by the First Supplement to Lease
<br />and Agreement and a Mortgage and Indenture of Trust; and
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<br />WHEREAS, said Lease and Agreement as amended by the
<br />First Supplement to the Lease and Agreement was terminated
<br />by County, terminating all rights and interests of Mayhew
<br />Products Corp. and its assignee, Mutual Sign CompanYJ in and
<br />to said Lease and Agreement; and
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<br />WHEREAS, on the 17th day of January, 1984, County and
<br />Virgil R. Eihusen, hereinafter referred to as "Eihusen,"
<br />entered into a Substitute Lease Agreement, hereinafter
<br />referred to as the "Agreement, II wherein Eihusen, as Lessee,
<br />leased the project property for the balance of the term of
<br />the bond issuance under the terms and agreements as
<br />contained in the Lease and Agreement except as set out in
<br />the Agreement; and
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<br />WHEREAS, Eihusen, as Lessee, was granted an option to
<br />purchase the project property from County for the sum of One
<br />Dollar ($1.00) upon payment in full of the principal and
<br />interest upon the aforesaid bonds together with costs and
<br />fees of the trustee; and
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<br />WHEREAS, Norwest Bank Nebraska, N.A. (formerly The First
<br />National Bank of Grand Island), Trustee, on November 16,
<br />1993, certified that all obligations of Eihusen, as Lessee,
<br />under the terms of the Substitute Lease Agreement have been
<br />fulfilled, including final payment of principal and interest
<br />on said bonds; and
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<br />WHEREAS, Eihusen has given notice of the exercise of
<br />his right to purchase the project property from County.
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<br />NOW BE IT RESOLVED that the County Board of Supervisors
<br />of Hall County, Nebraska hereby finds that all conditions
<br />precedent to the conveyance of the project property to
<br />Virgil R. Eihusen have been satisfied. The Chairman of the
<br />County Board of Supervisors is hereby authorized and
<br />directed, for and in the name and on behalf of the County,
<br />to execute such deeds, bills of sale, and other documents
<br />necessary for the conveyance of said property to Eihusen and
<br />to execute all other documents necessary. to terminate
<br />County's estate, right, title and interest in and to said
<br />property except any right, title and interest which arise,
<br />if any, due to the levy of general real estate and personal
<br />property taxes upon the same.
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<br />PASSED AND APPROVED THIS 02ei"'f.,'/oF ~ , 1993.
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<br />HALL COUNTY BOARD OF SUPERVISORS
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<br />;Ga Quandt, Chairman
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<br />ATTEST; .
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<br />, co~y,.~lerk
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<br />by: ,..
<br />Jerom E. Janulewicz
<br />Deputy Hall County Attorney
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