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HomeMy WebLinkAboutRESOLUTION - 10-89 - 2/14/1989 - LOC AMENDED/TOUHY./HIGGINS SUBRESOLUTION NO. 10-89 A RESOLUTION ACCEPTING AN AMENDMENT TO IRREVOCABLE LETTER OF CREDIT NO. 8834 FROM NBD PARK RIDGE BANK EXPIRING FEBRUARY 1, 1990 TO GUARANTEE THE COMPLETION OF AN OFFSITE WATERMAIN EXTENSION IN THE TOUHY/HIGGINS 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 l: That the President and Board of Trustees do hereby authorize the acceptance of an amendment to Irrevocable Letter of Credit No. 8834 from NBD Park Ridge Bank in the amount of $8,157.70 to guarantee the completion of public improvements for the Touhy/Higgins Subdivision Offsite Watermain Extension described in the engineering plans and specifications dated April 21, 1987, prepared by Cowhey, Gudmundson Leder, Ltd., One Pierce Place, Itasca, Illinois 60143 on property described in Exhibit "A" attached hereto and made a part hereof. Said Letter of Credit amended by extending the expiration date to February 1, 1990, originally accepted by Resolution No. 29-87 and amended by Resolution No. 23-88. 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 ATTEST: Patricia S. Smith Vi ageC erk day of February , 1989. Charles S. Zettek Village President EXHIBIT "A" LEGAL DESCRIPTION TOUHY/HIGGINS SUBDIVISION BEING A SUBDIVISION IN THE WEST HALF OF THE NORTHWEST QUARTER OF SECTION 36, TOWNSHIP 41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. `4). 8834 -'BD Park Ridge Ba. 2/1/89 One S. Northwest Hlehwae Park Ridge, Illinois 60068 312399.4100 \: cndt ntZo1'SGV��� rr©l Credit cFl3 2 1989 McLennan Commercial Industrial Brokerage ELK GROVE VILLAGE 25 N. Northwest Highway ENGINEERING DEPARTMENT Park Ridge, IL 60068 Village of Elk Grove nfi;v%n"uNttv;10 "'1". 901 Wellington Avenue V R V t I(). L1)< R l 1 )1 f k::;VI-r 1,f_�1 1' Elk Grove Village, IL 60007-3499 C.EN-rLLNILN: The aoo,,e mentioned credit is amended as Follows: To extend the expiration date to expire February 1, 1990. Vlnh.r ieon..od .nnd¢iam rcmmn unehanved. '11AM