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RESOLUTION NO. 14-88 <br />A RESOLUTION ACCEPTING AMENDMENT NO. 1 TO IRREVOCABLE LETTER <br />OF CREDIT NO. 311218 FROM THE FIRST NATIONAL BANK OF CHICAGO <br />DECREASING THE ORIGINAL AMOUNT OF $70,000 TO $6,350 TO <br />GUARANTEE COMPLETION OF PUBLIC IMPROVEMENTS AT RBC TECH CENTER <br />II, EXPIRING DECEMBER 31, 1988 <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees <br />of the Village of Elk Grove Village, Counties of Cook and DuPage, State of <br />Illinois: <br />Section 1. That the President and Board of Trustees do hereby authorize <br />the acceptance of Amendment No. 1 to an Irrevocable Letter of Credit No. 311218 <br />from the First National Bank of Chicago in the amount of $6,350.00 to guarantee <br />the completion of public improvements at the RBC Tech Center II as fully <br />described in Exhibit "A" attached hereto and made a part hereof in accordance <br />with approved plans and specifications with revisions dated November 18, 1986, <br />prepared by Elk Grove Engineering Co., 860 Lively Boulevard, Elk Grove Village, <br />Illinois. Said Amendment No. 1 expiring December 31, 1988. <br />Section 2. That this Resolution shall be in full force and effect from <br />and after its passage and approval according to law. <br />PASSED <br />this <br />23rd <br />day <br />of <br />February <br />, 1988. <br />APPROVED <br />this <br />23rd <br />day <br />of <br />February <br />, 1988. <br />Charles J. Zettek <br />Village President <br />ATTEST: <br />Patricia S. Smith <br />Village Clerk <br />