The URL can be used to link to this page

Home My WebLink AboutRESOLUTION - 8-89 - 2/14/1989 - LOC/DEED OF CONVEY/BILL OF SALE RESOLUTION NO. 8-89 A RESOLUTION RELEASING LETTER OF CREDIT NO. 190-802659 ACCEPTED BY RES. 56-87 AND ACCEPT CERTIFICATE OF APPROVAL AND INITIAL ACCEPTANCE; DEED OF CONVEYANCE/BILL OF SALE; LETTER OF CREDIT NO. 190-802659 IN THE AMOUNT OF $147,582.50 EXPIRING MAY 1, 1991 GUARANTEEING MAINTENANCE OF PUBLIC IMPROVEMENTS FOR STAPES SUB- DIVISION PHASES II , III AND IV (WINDEMERE SUBDIVISION) 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 Letter of Credit No. 190-802659 accepted by Resolution No. 56-87 in the amount of $337,119.00, and accept a Certificate of Approval and Initial Acceptance, Deed of Conveyance/Bill of Sale, and Irrevocable Letter of Credit No. 190-802659 in the amount of $147,582.50 expiring May 1 , 1991 guaranteeing the maintenance of public improvements as described in the Engineering Plans and Specifications with revisions dated July 2, 1986, prepared by Henderson and Bodwell , Inc. , 124 W. Diversey, Elmhurst, IL 60126 for Stapes Subdivision Phases II , III and IV (Windemere Subdivision). Section 2: That this Resolution shall be in full force and effect from and after its passage and approval according to law. PASSED this 14th day of February 1989. APPROVED this 14th day of February 1989. Charles J. Zettek Village President ATTEST: Patricia S. Smith Village Clerk 1913 tk5l 1� Dia " nit -Ce bration IRVING FED HL SFVINGS December 27, 1988 Elk Grove Village 901 Wellington Elk Grove, Illinois 60007 IRREVOCABLE LETTER OF CREDIT 190-802659 PROJECT: Stape' s Subdivision Phase II, III and IV Elk Grove, Illinois AMOUNT: $147, 582 . 50 EXPIRATION DATE: May 1, 1991 Applicant : Terrestris Development company 2211 York Road Suite 311 Oak Brook, Illinois 60521 Beneficiary: Village of Elk Grove 901 Wellington Elk Grove, Illinois Dear Sirs: We hereby establish in your favor our Irrevocable Letter of Credit No. 190-802659, which is available for negotiation of your drafts at sight, drawn on us, and bearing the clause "drawn under Irving Federal Savings and Loan Association Letter of Credit 190- 802659 . " This Letter of Credit is to guarantee the maintenance of Public Improvements for the following project : Stape' s Subdivision described in the engineering plans nd specifications with revisions dated July 2, 1986, prepared by Henderson and Bodwell . We hereby engage with drawers and/or bonafide holders that drafts drawn and negotiated in conformity with the terms of this Letter of credit will be duly honored on presentation and that drafts accepted within the term of this Letter of Credit will be duly honored on or before the expiration date of this credit . Drafts drawn under this Letter or Credit must be drawn and presented together with the accompanying documentation at our office located in Arlington Heights, Illinois not later than May 1, 1991 . meMeen _ 9...?,6��5 fro ng Park Road Chicago, Illinois 60618-3284 (312) 478-3131 ❑ 4100 Lawrence Avenue Chicago, Illinois 60630-28.94 (312)286-1.919 ❑Elston Plaza .3227 Addison Street Chicago, Illinois 60618-4328 (312) 478-5777 EOUA ❑Rid ePlaza 770WDundee Arlington Heights, Illinois 60004-1598 (.312) 577-8100 LENDER J Page 2 190-802659 Drafts must be drawn under this Letter of Credit. We hereby engage with you that all drafts and/or documents will be duly honored upon presentation to us . This documentary credit is subject to the "Uniform Customs and Practice for Documentary credits" 1983 Revision International Chamber of Commerce Publication 400 . IRVING FEDERAL SA I AND LOAN ASSOCIATION Jeffre V' e President Attes� Assistant a Pres ' ent 190802659 .WCS CERTIFICATE OF APPROVAL AND INITIAL ACCEPTANCE SUBDIVISION: STAPES SUBDIVISION PHASE II (Project Name/Phase. . . . .etc.) Request is hereby made by TERRESTRIS DEVELOPMENT COMPANY to the Village of Elk Grove Village to approve the subdivision/project described above. The following information is submitted in support of this request: Deed of Conveyance/Bill of Sale "As-Built" Engineering Drawings (3-print sets/1 mylar set) Bill of Materials (Material type, Quantities & Cost) Maintenance Guarantee (Bond, Letter of Credit. . .etc. OWNER(S)/DEVELOPER(S) : TERRFSTRIS DEVELOPMENT CCMPANY ADDRESS: 2211 York Road - Suite 311 Oak Brook, IL 60521 TELEPHONE: 312/573-0460 REFERENCE• 9/14/78, revised Plan No. 77148 Sheets 1-21 Dated 7/31/86 & specifications. Prepared by Fletcher Engineering Revised by Henderson & Bodwell 10/14/83 and approved by the Village of Elk Grove Village. CONT'D. . . . . DEED OF CONVEYANCE/BILL OF SALE KNOW ALL MEN BY THESE PRESENTS, that TERRESTRIS DEVELOPNMT CCIMPANY (the "Developer") , located at 2211 York Road Suite 311; Oak Brook, IL ED521 , a corporation (corporation, partnership, individual) authorized to do business in the State of Illinois, for and in consideration of the sum of One Dollar ($1.00) and other good and valuable consideration in hand paid, the receipt and sufficiency of which are hereby acknowledged, does hereby Grant, Sell, Transfer Over, Convey and Deliver unto the Village of Elk Grove Village (the "Village") , Cook and DuPage Counties, Illinois, a municipal corpor- ation, to and for its own use forever the following: UNDERGROUND IMPROVEMENTS QWatermain and Appurtenances QSanitary Sewer and Appurtenances Storm Sewer and Appurtenances Lift Station and Force Main Other SURFACE IMPROVEMENTS ® Roadways (Curb & Gutter/Pavement) (Street Names) F2 Sidewalks ® Parkway Trees ill Traffic Control/Street Signs E2Storm Water Retention/Detention Basins Other cont'd. . . -2- located in the Project known as STAPES SUBDIVISION , (the "Project") as described on the "as-built" engineering plans prepared by Henderson & Bodwell, Inc. , located at 124 W. Diversey Ehnhurst IL 60126 and dated 12/88 , which plans with "Bill of Materials" are incorporated by reference and made a part hereof. WHEREAS, the Developer does hereby warrant to the Village, it is the lawful owner of and has good and marketable title to the aforedescribed improvements; that the same are free from all encumberances; that the Developer has the right to Sell the same; and that the Developer warrants and will defend and hold harmless the village against the lawful claims and demands of all persons with respect to the title hereby conveyed; and that the execution of this Bill of Sale/Deed of Con- veyance is an authorized Act of Said Corporation, Individual or Partnership. IN WITNESS WHEREOF, the Developer has caused this instrument to be signed and delivered this9 12th day of January , 1989 ��, 1/12/89 CORPORATE SEAL iC17 (NAME) (DATE) DIRECTOR OF PRODUCPION (TITLE) ATTEST: NOTARY P7 n.7J'n..-1��-_�s� ) ,/3 - f SEAL �} (NAMEJi (DATE) DEVELOPER(S)IOWNER(S) TERRESTRIS DEVELOPMENT COMPANY 1/12/89 (NAME) ((DATE)14 ) VILLAGE INSPECTOR Z-1t/� Z / J /1( (NAME) (DATE) -3— -#39TtTANR6 VILLLAGE ENGINEER: CERTIFICATION All work required for this development has been inspected and found to be completed in a satisfactory manner. All documentation for acceptance has been submitted and found to be acceptable. cam. 7 /ww �- f�t4ia (DATE) 01 MILE) APPROVAL AND ACCEPTANCE OF GOVERNING AUTHORITY The VILLAGE OF ELK GROVE VILLAGE does hereby approve and accept for maintenance and operation the above described improvement. It is understood that the guarantee period of 24 months shall commence as of the date of Village Board acceptance. It is also understood that this approval and acceptance covers only the specific work indicated above and is subject to a final punch list being made concerning adjustment, alignment and necessary repairs of all structures, boxes, hydrants, ect. Acceptance of maintenance by the Village does not relieve the developer from the responsibility of keeping all dirt and debris due to cons- truction operations out of both storm and sanitary sewer systems. Final accept- ance of the subdivision or other general development is conditional upon com- pleting all indicated items on the final punch list. It is the responsibility of the owner or developer to request the final punch list to be made. No re- fund of maintenance escrow monies will be made until all items in the final punch list have been corrected. VILLAGE OF ELK GROVE VILLAGE BY: (DATE) -2- IMPROVEMENT DESCRIPTION: IY Watermain and Appurtenances Sanitary Sewer and Appurtenances Storm Sewer and Appurtenances Roadway (Curb and Gutter) Roadway (Markings) Sidewalk Street Lights Parkway Trees IXC Ponds (Detention/Retention) I-T Other (Lift Station. . .etc.) CERTIFICATIONS: DESIGN ENGINEER'S CERTIFICATION To the best of my knowledge and belief, the construction of the above described improveent has been completed in accordance with the approved plans and specifictions, prepared by (Name) Henderson & Bodwell, Inc. (Address) 124 W. Diversev Elmhurst, IL 60126 (� C) Go�� (DATE) (IL. P.E. NO. ) (SIGN� j�aj s •, 1` 38298 r GGRFFEGGpISTER ED } f PROFS)ONAL I ENGINEER y,! DEVELOPER/OWNER CERTIFICATION OF FIELD INSPECTORS CERTIFICATION .1.�Lir10\s f' I hereby certify that I (we) have regularly inspected the above described -3- improvements during the progress of construction and that to the best of my/our knowledge and belief the work has been completed in conformance with the approved plans and specifictions.