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RESOLUTION NO. 2S -8S <br />A RESOLUTION ACCEPTING AN IRREVOCABLE STRAIGHT LETTER OF CREDIT <br />NO. 64 FROM THE AVENUE BANK OF ELK GROVE IN THE AMOUNT OF <br />$35,000.00 TO GUARANTEE THE MAINTENANCE OF COMPLETED PUBLIC <br />IMPROVEMENTS OF NERGE/CHARLELA IMPROVEMENTS AND BONAVENTURE <br />DRIVE IMPROVEMENTS (THE PROJECT) EXPIRING MARCH 22, 1987 <br />(ROHLWING GROVE DEVELOPER - S.B.L. ASSOCIATES) <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees of <br />the Village of Elk Grove Village, Counties of Cook and DuPage, Illinois: <br />Section 1: That the President and Board of Trustees do hereby authorize <br />the acceptance of an Irrevocable Straight Letter of Credit No. 64 from the <br />Avenue Bank of Elk Grove dated March 22, 1985 expiring March 22, 1987 in <br />the amount of $35,000.00 to guarantee the maintenance of completed public <br />improvements of Nerge/Charlela Improvements and Bonaventure Drive Improvements <br />as follows: Watermain and Appurtenances, Sanitary Sewer and Appurtenances, <br />Storm Sewer and Appurtenances, Roadway (Curb & Gutter, Pavement), Sidewalk, <br />Parkway (Trees, etc.) and Traffic Control (Signals, Signs, Markings) as <br />described in the as -built Engineering plans dated 8-11-76 and 9-16-76 <br />prepared by Pavia-Marting & Inc., 130 E. Elm Street, Roselle, Illinois. <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 />9th <br />day <br />of <br />April <br />1985. <br />APPROVED <br />this <br />9th <br />day <br />of <br />April <br />1985. <br />Charles J. Zettek <br />Village President <br />ATTEST: <br />Patricia S. Smith <br />Village Clerk <br />