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HomeMy WebLinkAboutRESOLUTION - 3-88 - 1/26/1988 - DEED OF CONVEY/BILL OF SALE/LOCRESOLUTION NO. 3-88 A RESOLUTION ACCEPTING A DEED OF CONVEYANCE/BILL OF SALE AND IRREVOCABLE LETTER OF CREDIT NO. 3 FROM STANDARD FEDERAL SAVINGS AND LOAN ASSOCIATION IN THE AMOUNT OF $3,637.00 EXPIRING OCTOBER 27, 1989 GUARANTEEING MAINTENANCE OF PUBLIC IMPROVEMENTS FOR WINDY CITY GARDENS SUBDIVISION (Buckingham Court) WHEREAS, the Developer (Standard Federal Savings and Loan Association of Chicago) has submitted a Deed of Conveyance/Bill of Sale and Irrevocable Letter of Credit No. 3 in the amount of $3,637.00, which will expire October 27, 1989, to the Village of Elk Grove Village as required by the Subdivision Control Ordinance and fully complied with all provisions of any and all Ordinances pertaining; and WHEREAS, the Developer has satisfactorily submitted all necessary items as requiredby the Village and has submitted required As -Built Engineering Plans: NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees of the Village of Elk Grove Village, Counties of Cook and DuPage, Illinois: Section 1. That the Village of Elk Grove Village does hereby accept a Deed of Conveyance/Bill of Sale and Irrevocable Letter of Credit No. 3 from Standard Federal Savings and Loan Association of Chicago in the amount of $3,637.00 expiring October 27, 1989 guaranteeing maintenance of public improvements as described on the "As -Built" Engineering Plans prepared by Applied Engineering Company, Buckingham Court, Elk Grove Village, Illinois and dated February 4, 1981 for Windy City Gardens Sub- division. Section 2. That this Resolution shall be in full force and effect from and after its passage and approval according to law. PASSED this 26th day of January 1988. APPROVED this 26th day of January 1988. ATTEST: Patricia S. Smith Village Clerk Charles J. Zettek Village President a [*4192 South Archer Avenue, Chicago, Illinois 60632.1890 Telephone: (312) 847.1140 December 29, 1987 Village of Elk Grove Village `rP4 Arc r 901 Wellington Avenue Elk Grove, Illinois 60007 Letter of Credit No. 3 Date December 29, 1987 Amount $3,637.00 Project Windy City Gardens (Buckingham Court) Completed October 27, 1987 Expiration Date October 27, 1989 Gentlemen: We hereby establish our Irrevocable Straight Letter of Credit in your favor for the account of Standard Federal Savings & Loan Association, 4192 So. Archer, Chicago, Illinois 60632 hereafter called the "Developer," in the aggregate amount of $3,637.00, U.S. currency, available by your draft drawn on sight and marked "Drawn under "Standard Federal Savings and Loan Irrevocable Lette of CrWeK 3 dated December 29, 1987." These monies are ma, henanc to guarantee e completedpublic improvements for the following project: Windy City GarBuckingham Court). All improvements, which have been completed satisfactorily per Elk Grove Village letter to Standard Federal Dated November 30, 1987 consist of: Watermain and Appurtenances; Sanitary Sewer and Appurtenances; Storm Sewer and Appurtenances; Roadway (Curb and Gutter, Pavement); Sidewalk; Street Lights; Parkway (Trees) and Sod Parkways; Traffic Control (Signals, Signs, Markings); The principal amount of the Irrevocable Letter of Credit shall not be drawn upon for any repairs to the public improvements installed or completed unless such withdrawl is approved by Standard Federal Savings & Loan Association in writing with supportive waivers, liens, and affidavits from contractors or sub -contractors furnishing material or performing work to repair these improvements. The village may submit its sight drafts as herein above provided with the consent of the Standard Federal Savings & Loan Association. If within thirty (30) days of the date of any demand (made in conformity with this Irrevocable Letter of Credit) presented, we fail to honor same, we agree to pay all attorney fees, court costs and other reasonable expenses incurred by the Village of Elk Grove Village in enforcing the terms of this Irrevocable Letter of Credit. Come up to our Standard -2 - The amount of each draft must be endorsed on the reverse side of the origional Irrevocable Letter of Credit by the Village Engineer and attested by the clerk This irrevocable Letter of Credit shall be utilized to secure the maintenance of all improvements completed by Standard Federal Savings & Loan under municipal code of the Village of Elk Grove and specified on the engineering drawings and in the specifications and agreements. It is a condition of this Irrevocable Letter of Credit that it shall be automatically terminated two years from the date hereof. The undersigned shall notify the village manager, by certified mail, return receipt requested, at least ninety (90) days prior to said expiration date that said Irrevocable Letter of Credit is about to expire. It is expressly agreed, by the undersigned, that the expiration date shall be automatically extended as shall be required to comply with this notice provision and the requiredments stated previously. This Irrevocable Letter of Credit is subject to the "Uniform Customs and Practice for Documentary Credit, "the International Chamber of Commerce Publication #290, most recent revision, "except as herein above modified. We hereby agree with the drawers, indorsers, and bona fide holders of drafts drawn in compliance with the terms of this credit that they shall be SEAL honored on presentation. Dated: z- STANDARD FEDERAL SAVINGS AND LOAN ASSOCIATION OF CHICAGO 32 nic Lniapetta, txec'utive vice Nresiaent a Secretary ----------------------------------------------------------------------------- "The undersigned hereby acknowledges the absolute right of the Village of Elk Grove Village to draw on this Irrevocable Letter of Credit subject to the conditions herein set forth and waives any right to enjoin the Village from so proceeding." Date: VILLAGE OF ELK GROVE VILLAGE Resolution: (Title) ate -3 - EXHIBIT A Lots 1 through 14 inclusive in Windy City Gardens Center Subdivision being a subdivision in the South East 1/4 of Section 32, Township 41 North, Range 11, East of the Third Principal Meridian, in Cook County, Illinois. VILLAGE OF ELK GROVE VILLAGE Title Date Resolution: DEED OF CONVEYANCE/BILL OF SALEI KNOW ALL MEN BY THESE PRESENTS, that STANDARD FEDERAL SAVINGS AND LOAN ASSOCIATION OF CHICAGO (the "Developer"), located at 4192 Archer Avenue, Chicano, Illinois a Corporation of the United State s(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 .1 Storm Sewer and Appurtenances ❑ Lift Station and Force Main ❑ Other SURFACE IMPROVEMENTS ® Roadways (Curb & Gutter/Pavement) (Street Names) Sidewalks ® Parkway Trees ❑ Traffic Control/Street Signs ❑ Storm Water Retention/Detention Basins ❑ Other cont'd... e, -2- located in the Project known as WinAy City Subdivision (the "Project") as described on the "as -built" engineering plans prepared by Applied Engineering Co. , located at Buckingham Court Elk Grove Village Illinois and dated 214/82 , 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 improve- ments; 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 Conveyance is an authorized Act of Said Corporation, Individual or Partnership. IN WITNESS WHEREOF, the Village has caused this instrument to be signed and delivered this 29th day of December , 1987 DOMINIC CHIAPETTA (NAME) EXECUTIVE VICE PRESIDENT & SECRETARY (TITLE) ATTEST: CORPORATE 12-29-87 SEAL (DATE) NOTARY «tL r��<H 12-29-87 SEAL RUTH PRAJKA (NAME) ( (DATE) STANDARD FEDERAL SAVINGS & DEVELOPER(S)/OWNER(S) LOAN ASSN. OF CHICAGO 12-29-87 (NAME) (DATE) VILLAGE INSPECTOR (NAME) (DATE) -3- ASSISTANT 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. 111416's (DATE) a.Q'a . v. 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) CERTIFICATE OF APPROVAL AND INITIAL ACCEPTANCE SUBDIVISION: WINDY CITY GARDENS, SUBDIVISION (Project Name/Phase..... etc.) Request is hereby made by Standard Federal Savings & Loan Association to the Village of Elk Grove VillageOEoCapprNe the subdivision/project described above. The following information is submitted in support of this request: 171 Deed of Conveyance/Bill of Sale �—} "As -Built" Engineering Drawings (3 -print sets/1 mylar set) Bill of Materials (Material type, Quantities 6 Cost) I—xi Maintenance Guarantee (Bond, Letter of Credit ... etc. OWNERS)/DEVELOPER(S): Standard Federal Savings & Loan Association of Chicago ADDRESS: 4192 South Archer Avenue Chicago, Illinois 60632 TELEPHONE: 312-847-1140 REFERENCE: Plan No. 77-322 Sheets 6 Dated 7126178 fi specifications. Prepared by Applied Engineering Co. and approved by the Village of Elk Grove Village. CONT'D..... -z - IMPROVEMENT DESCRIPTION: CERTIFICATIONS: V-14Watermain and Appurtenances oSanitary Sewer and Appurtenances UStorm Sewer and Appurtenances Ix7 Roadway (Curb and Gutter) I -X-2 Roadway (Markings) I:x:l Sidewalk IxT Street Lights I� Parkway Trees I—T Ponds (Detention/Retention) I -T Other (Lift Station... etc.) DESIGN ENGINEERS 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) (Address) (DATE) (IL. P.E. NO.) (SIGNATURE) SEAL DEVELOPER/OWNER CERTIFICATION FIELD INSPECTORS CERTIFICATION 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.