HomeMy WebLinkAboutRESOLUTION - 66-95 - 11/14/1995 - LOC/RELEASE MALLARD CROSSING SHOP CTR RESOLUTION NO. 66-95
A RESOLUTION RELEASING MAINTENANCE LETTER OF CREDIT NO.
00330003 FROM THE FIRST NATIONAL BANK OF CHICAGO EXPIRING
OCTOBER 12, 1995 IN THE AMOUNT OF $51,536.00 PREVIOUSLY
ACCEPTED BY RES. NO. 63-93 TO GUARANTEE COMPLETION OF
PUBLIC IMPROVEMENTS FOR MALLARD CROSSING SHOPPING CENTER
NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees
of the Village of Elk Grove Village, Counties of Cook and DuPage, State of
Illinois:
Section 1: That the President and Board of Trustees do hereby
authorize the release of Maintenance Letter of Credit No. 00330003 from The
First National Bank of Chicago, in the amount of $51,536.00 previously
accepted by Resolution No. 63-93 to guarantee completion of public
improvements at Mallard Crossing Shopping Center in accordance with the
approved plans and specifications prepared by Cowhey Gudmundson
Leder, Ltd. dated December 11, 1992. Said Letter of Credit expiring
October 12, 1995.
Section 2: That this Resolution shall be in full force and effect
from and after its passage and approval according to law.
VOTE: AYES: 6 NAYS: 0 ABSENT: 0
PASSED this 14th day of November 1995.
APPROVED this 14th day Of November 1995.
Dennis J. Gallitano
Village President
ATTEST:
Patricia S. Smith
Village Clerk
�6. INTERNATIONAL TRADE �ANKING
I CHICAGO
The First National Bank of Chicago ,—ONE NORTH DEARBORN - 9TH FLOOR, MAIL SUITE 0812
�.CHICAGO, ILLINOIS 60670-0812 U.S.A.
Telex: TRT 190201 FNEC UT Swift Address: FNBCUS44
ITT 4330253 FNBCUI FAX� 1312)407-1065
TEL: (312)407-3843
AME NDMENT ---"-DATE: OCT013ER 5, 1993
VILLAGE OF ELK GROVE VILLAGE DRAFTS DRAWN MUST BE MARKED:
901 WELLINGTON 00330003
ELK GROVE, IL 60007 OPENER' S REFERENCE NO:
00330003
GENTLEMEN:
WE ARE INSTRUCTED BY
H. P. ELK GROVE LTD. PARTNERSHIP
300 PARK BOULEVARD
SUITE 1 00
ITASCA, IL 60143
TO AMEND CREDIT 00330003 AS ISSUED IN YOUR FAVOR.
THIS AMENDMENT IS AN INTEGRAL PART OF THE ORIGINAL CREDIT.
ALL OTHER TERMS AND CONDITIONS OF THE LETTER OF CREDIT INCLUDING
PREVIOUS AMENDMENTS REMAIN UNCHANGED.
AMENDED TERMS:
AMOUNT DECREASED BY: U. S. DOLLARS 4, 156- 00
THE AMOUNT OF THIS LETTER OF CREDIT IS DECREASED TO AN AGGREGATE
0 F U. S. DOLLARS 51 , 536. 00
EXPIOA1113N. DATE: OCTOBER 12, 1995
IN PARAGRAPH TWO (2) , WHERE READING: "THESE MONIES ARE TO GUARANTEE THE
MAINTENANCE OF PUBLIC IMPROVEMENTS FOR THE FOLLOWING PROJECT� " IS HEREBY
AMENDED TO READ: "THESE MONIES ARE TO GUARANTEE THE COMPLETION AND
MAINTENANCE OF PUBLIC IMPROVEMENTS AND THE RESTORATION OF THE DETENTION
PONDS FOR THE FOLLOWING PROJECT: ".
IN PARAGRAPH THREE (3 ) , WHERE READING: ", , . HAS NOT BEEN SATISFACTORILY
MAINTAINED IN ACCORDANCE. . . 11 IS HEREBY A14ENDED TO READ: 11. . . HAS NOT BEEN
SATISFACTORILY MAINTAINED OR COMPLETED. . . ".
THE FOLLOWING IMPROVEMENTS LISTED IN THIS LETTER OF CREDIT ARE HEREBY
DELETED:
STREET LIGHTS
TRAFFIC CONTROL (SIGNALS, SIGNS, MARKINGS)
EXuAVATION (SOIL EROSION CONTROL, STOCKPILE)
OTHER (RETAINING WALLS, ETC. )
THIS IS AMENDMENT NUMBER FOUR.
NOTE TO BENEFICIARY: PLEASE NOTIFY US IMMEDIATELY OF YOUR ACCEPTANCE OF
THIS AMENDMENT By SIGNING AND RETURNING THE ATTACHED COPY OF THIS
AMENDMENT IN THE ENVELOPE PROVIDED. PLEASE BE ADVISED THAT, AS OF YET,
WE ARE NOT IN RECEIPT OF YOUR ACCEPTANCE OF OUR AMENDMENT NUMBER THREE,
(,OPY ATTACHED. THEREFORE, WE HAVE ENCLOSED COPY OF SAME FOR YOUR
REFERENCE. PLEASE ALSO SIGN AND RETURN IN THE ENVELOPE PROVIDED. IF YOU
(r.nMTT Nripn) PAGE';'11G;.4AL
.0 INTERNATIONAL TRADE NKING
4:R51
CHICAGO
ONE NORTH DEARBORN - 9TH FLOOR, MAIL SUITE 0812
��3 The First National Bank of Chicago CHICAGO, ILLINOIS 60670-0812 U.S.A.
Telex: TRT 190201 FNBC LIT Swift Address: FNBCUS4,1
ITT 4330253 FNBCUI FAX: (312)407-1065
TEL: (312)407-3843
OUR REF NO. 00330003 DATE; OCTOBER 5, 1993
HAVE ANY QUESTIONS, OR WISH TO REFUSE THESE AMENDMENTS, PLEASE CONTACT
HELEN RENKOSIAK AT (312) 407-5681 .
YOURS VERY TRULY,
v E AH /,,,AUTHORIZED SIGNE
n-�a-
A�ITHORIZ71 ST�NE-R
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