Resolution: Authorizing Frontier Insurance to Lease Property to Cinium Holdings for One year

    RESOLUTION

     

                The regular meeting of the County of Sullivan Industrial Development Agency (“Agency”) was convened in public session at the Sullivan County Government Center, 100 North Street, Village of Monticello, Sullivan County, New York on February 14, 2012 at 10:00 a.m. local time.

     

                The meeting was called to order by Chairman Ira Steingart, and, upon roll being called, the following members of the Agency were:

     

                                                                PRESENT                   ABSENT

     

                Ira Steingart                            [           ]                       [           ]

                Harold Gold                            [           ]                       [           ]

                Raymond Walter                     [           ]                       [           ]

                Edward T. Sykes                    [           ]                       [           ]

                Charles Barbuti, Jr.                 [           ]                       [           ]

                Harris Alport                           [           ]                       [           ]

                Suzanne Loughlin                   [           ]                       [           ]

                Cindy L. Garlinghouse           [           ]                       [           ]

     

                The following persons were also present:

                Allan C. Scott, Chief Executive Officer

                Jennifer Brylinski, Agency Executive Director

    Elizabeth A. Hunt, Agency Executive Assistant

                Walter F. Garigliano, Agency General Counsel

                The following resolution was duly offered by _______________________, and seconded by __________________________, to wit:

     

                                                              Resolution No.  ___ – 12

     

    RESOLUTION AUTHORIZING, APPROVING AND CONSENTING TO A LEASE FROM FRONTIER INSURANCE IN REHABILITATION, AS LANDLORD TO CINIUM HOLDINGS, LLC LOCATED ON A PARCEL OF LAND LOCATED AT 195 LAKE LOUISE MARIE ROAD, ROCK HILL, NEW YORK, TOWN OF THOMPSON, COUNTY OF SULLIVAN, STATE OF NEW YORK FOR A TERM OF APPROXIMATELY ONE (1) YEAR COMMENCING ON FEBRUARY 1, 2012 AND ENDING JANUARY 31, 2013

     

                WHEREAS, the Agency was created by Chapter 560 of the Laws of 1970 of the State of New York, as amended, pursuant to Title I of Article 18-A of the General Municipal Law of the State of New York (collectively, the “Act”) as a body corporate and politic and as a public benefit corporation of the State of New York; and

     

                WHEREAS, on February 26, 1997, Frontier Insurance Group Inc. (n/k/a Frontier Insurance Group LLC (“Frontier”)) and Frontier Insurance Company (n/k/a Frontier Insurance Company in Rehabilitation (“FIC”) entered into a First Supplemental Sale Agreement whereby the Agency acquired certain property located at 195 Lake Louise Marie Road (“Land”); and

     

                WHEREAS, FIC requests that the Agency consent to the execution and delivery of a Lease, dated the 1st day of February, 2012 between FIC, as landlord and Cinium Holdings, LLC (“Cinium”), as tenant pursuant to which Cinium shall lease approximately 2,500± square feet of floor area in the building located at 195 Lake Louise Marie Road, Rock Hill, New York (“Lease”); and

     

                WHEREAS, the Agency, after reviewing the Lease contemplates consenting to the such lease on the terms and conditions set forth in the Second Supplemental Sale Agreement on the condition that:

     

    (i) the lease to Cinium shall not relieve FIC from primary liability for any of its obligations under the Second Supplemental Sale Agreement;

     

    (ii) that to the extent of its interest in the premises Cinium shall assume the obligations of FIC, except for the obligation of FIC to make payments to the Agency under the Second Supplemental Sale Agreement;

    (iii) FIC shall furnish or cause to be furnished to the Agency a true and complete copy of the Lease pursuant to which the leasehold estate is granted to Cinium; and

    (iv) the premises shall continue to constitute a “project” as such term is defined in the Act.

     

                NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE AGENCY AS FOLLOWS:

     

    Section 1.        The Agency hereby gives its authorization, approval and consent to the Lease; provided that:

     

    (i)         the lease to Cinium shall not relieve FIC from primary liability for any of its obligations under the Second Supplemental Sale Agreement;

     

    (ii)        that to the extent of its interest in the premises Cinium shall assume the obligations of FIC, except for the obligation of FIC to make payments to the Agency under the Second Supplemental Sale Agreement;

    (iii)       FIC shall furnish or cause to be furnished to the Agency a true and complete copy of the Lease pursuant to which the leasehold estate is granted to Cinium; and

     

    (iv)       the Premises shall continue to constitute a “project” as such term is defined in the Act.

     

    Section 2.        The Chairman, Chief Executive Officer or Vice Chairman of the Agency, each acting individually, is hereby authorized, on behalf of the Agency, to execute and deliver any and all documents necessary to formalize the foregoing, all in the form approved by Counsel to the Agency with such changes, variations, omissions and insertions as the Chairman, Chief Executive Officer or Vice Chairman of the Agency, each acting individually, shall approve, the execution thereof by the Chairman, Chief Executive Officer or Vice Chairman of the Agency to constitute conclusive evidence of such approval.

     

    Section 3.        The officers, employees and agents of the Agency are hereby authorized and directed for and in the name and on behalf of the Agency to do all acts and things required and to execute and deliver all such certificates, instruments, documents, and to pay all such fees, charges and expenses and to do all such further acts and things as may be necessary or in the opinion of the officer, employee or agent acting on behalf of the Agency desirable and proper to effect the purposes of the foregoing resolutions and to cause compliance by the Agency with all the terms, covenants and provisions of the documents for and on behalf of the Agency.

     

    Section 4.        These resolutions shall take effect immediately.

     

                The question of adoption of the foregoing resolutions were duly put to a vote on roll call, which resulted as follows:

                Ira Steingart                            [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Harold Gold                            [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain     

                Raymond Walter                     [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Edward T. Sykes                    [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Charles Barbuti, Jr.                 [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Harris Alport                           [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Suzanne Loughlin                   [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Cindy L. Garlinghouse           [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

     

                The resolutions were thereupon duly adopted.

     

    STATE OF NEW YORK       :

                                                    :SS

    COUNTYOFSULLIVAN   :

     

                I, the undersigned (Assistant) Secretary of the Agency DO HEREBY CERTIFY THAT:

     

    1.         I have compared the foregoing copy of a resolution of the Agency with the original thereof on file in the office of the Agency, and that the same is a true and correct copy of such resolution and of the proceedings of the Agency in connection with such matter.

     

    2.         Such resolution was passed at a meeting of the Agency duly convened in public session on the 14th day of February, 2012 at 10:00 a.m. at theSullivanCountyGovernmentCenter,100 North Street,Village ofMonticello, Sullivan County, New York, at which the following members were present:

     

                                                                PRESENT                   ABSENT

     

                Ira Steingart                            [           ]                       [           ]

                Harold Gold                            [           ]                       [           ]

                Raymond Walter                     [           ]                       [           ]

                Edward T. Sykes                    [           ]                       [           ]

                Charles Barbuti, Jr.                 [           ]                       [           ]

                Harris Alport                           [           ]                       [           ]

                Suzanne Loughlin                   [           ]                       [           ]

                Cindy L. Garlinghouse           [           ]                       [           ]

     

    3.         The question of the adoption of the foregoing resolution was duly put to a vote on roll call which resulted as follows:

     

                Ira Steingart                            [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Harold Gold                            [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain     

                Raymond Walter                     [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Edward T. Sykes                    [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Charles Barbuti, Jr.                 [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Harris Alport                           [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Suzanne Loughlin                   [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

                Cindy L. Garlinghouse           [    ] Yes         [    ] No        [    ] Absent        [    ] Abstain

     

                and therefore, the resolution was declared duly adopted.

     

     

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                I FURTHER CERTIFY that (i) all members of the Agency had due notice of said meeting, (ii) pursuant to Sections 103a and 104 of the Public Officers Law (Open Meetings Law), said meeting was open to the general public and public notice of the time and place of said meeting was duly given in accordance with such Sections 103a and 104, (iii) the meeting in all respects was duly held, and (iv) there was a quorum present throughout. 

     

                IN WITNESS WHEREOF, I have hereunto set my hand and seal on the 14th day of February, 2012.

     

                                                                                                  _______________________________                                                                                                                                                                                                                                                                                                            ______________________________

                                                                                                                                                Secretary

     

     

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