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Iii <br />hasea Bank& Trust Co. <br />308 West Irving Park Road • Itasca, Illinois 60143 • (312) 773-0350 <br />ITASCA SANK ? �^i14 Ip°1 r^ r <br />a TRUST Cn. J .L .. ;;i.. I;;w mJ l.r <br />IRREVOCABLE LETTER OF CREDIT NO. 1086 <br />March 17, 1988 <br />Village of Elk Grove Village <br />901 Wellington Avenue <br />Elk Grove Village, Illinois 60007 <br />RE: Shenandoah -Elk Grove Subdivision -Phase IIC <br />Elk Grove Village, Illinois <br />Gentlemen: <br />We hereby establish an Irrevocable Credit in favor of the Village <br />of Elk Grove Village, Illinois, an Illinois municipal corporation <br />(herein called "Municipality") for the account of Itasca Bank & <br />Trust Co. as Trustee under Trust #1264, dated April 11, 1978 <br />(herein called "Owner"), 308 W. Irving Park Rd., Itasa, Illinois <br />60143, in the aggregate amount of $33,611.00. This Irrevocable <br />Credit will be used exclusively to secure the construction of <br />certain public improvements (herein called "Improvements") as <br />listed on Exhibit A attached hereto, which are to be constructed <br />within the development known as Shenandoah -Elk Grove - Phase II C <br />(herein called "Development") pursuant to the following plans and <br />specifications, (herein called "Plans and Specifications"). <br />The municipality approved site development engineering drawings <br />and specifications dated June 16, 1978 for Shenandoah -Elk Grove <br />with revisions dated April 16, 1986, prepared by Elk Grove <br />Engineering, 860 Lively Boulevard, Elk Grove Village, Illinois <br />60007, which have been previously submitted to, and approved by <br />the Engineering Department of the Village of Elk Grove. <br />The Development, which is owned by Itasca Bank & Trust Co. as <br />Trustee under Trust #1264, dated April 11, 1978, 308 W. Irving <br />Park Rd., Itasca, Illinois 60143, is legally described on Exhibit <br />B attached to this letter. <br />A Subsidiary of ITASCA BANCORP INC. <br />