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RESOLUTION N0. 21-87 <br />A RESOLUTION ACCEPTING AMENDMENT NO. 3 TO LETTER OF CREDIT <br />NO. SPL 27379 (ORIGINALLY ADOPTED BY RESOLUTION NO. 26-86) <br />EXTENDING EXPIRATION DATE TO SEPTEMBER 7, 1987 FROM HARRIS <br />BANK (TERRESTRIS DEVELOPMENT CORP.) FOR PROPERTY COMMONLY <br />KNOWN AS STAPE'S SUBDIVISION PHASE I (WINDEMERE) <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of <br />Trustees of the Village of Elk Grove Village, Counties of Cook and <br />OuPage, State of Illinois: <br />Section is That the President and Board of Trustees do hereby <br />authorize the acceptance of Amendment No. 3 to Letter of Credit No. SPL <br />27379 ($295,849.85) to guarantee completion of public improvements for <br />property commonly known as Stape's Subdivision Phase I (Windemere <br />Subdivision) by extending the expiration date to September 7, 1987. <br />(Amendment No. 1 & 2 were not adopted by Resolution.) . <br />Section 2: That this Resolution shall be in full force and <br />effect from and after its passage and approval according to law. <br />PASSED this 24th day of March , 1987. <br />APPROVED this 24th day of March , 1987. <br />Charles J. Zettek <br />Village President <br />ATTEST: <br />Patricia S. Smith <br />Village Clerk <br />