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Home My WebLink AboutRESOLUTION - 57-87 - 9/22/1987 - DEED OF CONVEY/BILL OF SALE/LOC RESOLUTION NO. 57-87 A RESOLUTION ACCEPTING A DEED OF CONVEYANCE/BILL OF SALE AND IRREVOCABLE LETTER OF CREDIT NO. 311370 FROM THE FIRST NATIONAL BANK OF CHICAGO IN THE AMOUNT OF $23,000.00 EXPIRING SEPTEMBER 1, 1989 GUARANTEEING MAINTENANCE OF PUBLIC IMPROVE- MENTS FOR REGENT OFFICE CENTER/MIDWAY MOTOR LODGE WHEREAS, the Developer (SDK Industrial Parks) has submitted a Deed of Conveyance/Bill of Sale and Irrevocable Letter of Credit No. 311370 from the First National Bank of Chicago in the amount of $23,000.00, which will expire September 1, 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 necessory items as required by the Village and has submitted required As-Built Engineer- ing 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. 311370 from the First National Bank of Chicago in the Amount of $23,000.00 expiring September 1, 1989 guaranteeing maintenance of public improvements as described on the "As-Built" Engineering Plans prepared by Elk Grove Engineering Company, 860 Lively Blvd. , Elk Grove Village, Illinois and dated June 6, 1985, otherwise known as Regent Office Center/Midway Motor Lodge, (the "project") . Section 2. That this Resolution shall be in full force and effect from and after its passage and approval according to law. PASSED this 72nd day of September 1987. APPROVED this 22nd day of September 1987. Charles J. Zettek Village President ATTEST, Patricia S. Smith Village Clerk ® FIRST CHICAGO TRADE 7VICES GROUP The First National Bank of Chic..,- rE 0236 CHICAGO, ILLINOIS 60670 U.S.A. Swift Address: FNBCUS44 Cable address: NATIONAL CHICAGO Telex number: 2-53801 TRREVOCABLE LETTER CF C;,E., 7 DUPLICATE TRICIN0... VILLAGE OF ELS". CROWE MAINTENANCE CUARANTE 401 WELLINGTON AVENUE LE7ER OF CREDIT NO . 311374 LLP. GROVE VILLAGE ? IL. 60007 DATE : JULY 15v 1907 AMOUNT: U.S . PROJECT : RECENT OFFICE CENTER/ nIDWAY NCTCR LODCE. WARRANTY E`PIRATIO`.' DATE ,' E'EPTENBER 1 r 1 GENTLEMEN: WE HEREBY ESTABLISH OUR IRREVOCABLE STRA ICHT LETTER OF CREDIT I`: YOUR FAVOR FOR THE ACCOUNT OF SDN INDUSTRIAL FARKS; ZZ W. MONROE. STREET , CHIC6130r IL HEREAFTER CALLED THE 'DEVELOPER It•? THE AGGREGATE AMOUNT 07 U. S. $237000 . 00 ! TWENTY THREE THOUSAND AQ! NO1100 U. S DOLLARS) LAWFUL L' , S CURRENCY: AVAILABLE BY YOUR DRAFT DRAWN AT SIGHT AND MARKEII " DRAWM UNDER THE FIRST NATIONAL BANK OF CHICAGO LETTER OF CREDIT NO. 311370 DATED JULY 15v 1?87* . THESE MONIES ARE TO GUARANTEE THE MAINTENANCE OF COMPLETED PUBLIC IMPROVEMENTS FOR THE FOLLCWINC PROJECT : RECENT OFFICE: CENTER/MIDWAY MOTOR LODGE ( THE "PROJECT' ? ItESCRIBED IN THE nS—BUILT ENGINEERING PLANE DATED -----4I)0_4-- ; 19094 PREPnECD B7 ELK GROVE ENGINEERING COiiF:tN r SGO LIVELY BLVD . s EL`; GROVE: YILL60EP ILs LAND ACCEPTED BY THE 'TILLAGE: ENGINEER ON ------------ , 19„--- . MONIES MAY BE DRAWN UPON PRESENTATION OF DRAFTS AT SICHT BY THE VILLAGE OF ELK CROWE: YIL.460E WHEN ACCOMPANIED BY THE FOLLOWING DOCUMENTS : 1 . A STATEMENT SIGNED BY THE VILLAGE MANAGER QI CNED AS SUCH? OR ANY OTHER DULY AUTHORIZED OFFICIAL OF THE VILLAGE OF ELK GROVE VILLAGE (SICNED AS SUCH) CERTIFYING THAT ANY PORTION OF '!HE SITE: IMPROVEMENTS "HAS FAILED DUE TO DEFECTS IN WORKMANSHIP AND MATERIAL DURI`!G SAID PERIOD FOR THE FCLLOWINC PROJECT : RECENT OFFICE CENTER/HIDWnY MOTOR: LODGE ( THE ' PROJECT ' ) , ' 2 CERTIFICATE OF NON—RECEIPT (TITLED AS SUCH) AS. FOLLOWS : CA) WE; THE VILLAGE OF ELF: GROVE; ARE NOT IN RECEIPT OF THI:: ORIGIMAL LETTER OF CREDIT CB) WE HEREBY AGREE :O : ( I ) IMMEDIATELY HOTI=Y THE: FIRST HA; ICNAL BANK OF CHICAGO IN THE EVENT THAT WE RECEIVE THE ORT31PAL LETTER OF CREDIT AND 1111 FFOMFTL', FORWARD THE ORI INAL UETTER CF ._':EDIT BY RESISTEREI! MAIL OR SIMILAR SECURE HEANS TC THE FIRST HATIONAl— TANK OF CHICAGO IN THE: EVEA7 OF RECEIPT , THE COMPLETED'. :ITE !MPROVEMZNTE ACCE.PTEP E:': THE 'TILLAGE :i! `iBCYE DESCRIBED PROJECT CONSIST OF : UATERMAIN AND APPURTENANCEZ, ANITARY SEWER nND APFURT'tiAANCBS 3TIORM SEWER AHD APP'JRT'-Nr.WZQE , THESE :ITE IMFRO'VMENTSTE:MI...EI f.BC . SHALL ALL BC_ UNDER GUARANTEE .THE VILLAGE FROM THE DATE OF ACCEPTANCE ^ SEPTEMBER 1 , 14S7 . OR16INAL ?CONTINUED) 1 . 04QF 1 FIRST CHICAGO TRAOF -RVICES GROUP The First National Bank of Chic,., _,.TE 0236 CHICAGO, ILLINOIS 60670 U.S.A. Swift Address: FNBCUS44 Cable address: NATIONAL CHICAGO Telex number: 2-53801 REF NO : 00311370 DATE : ,JULY 15s ITS: THE 'TILLAGE OF ELK CROVE: VILLAGE ! THE. " VIL.LnCE ' . IS HE%! -( GRANTED AUTHORITY TO DRAW UPON THC: IRREVOCOEALE LETT'EP OF SREVI i FOR THE PURPOSE OF CORRECTING THE SITE 1NPROVEME:NT DEFEST.. :N ACCORDANCE WITH THE PROVISIONS HEREIN AXE AB3 E SET FORTH : 'H'IUL,. THE ' DEVELOPER• FAIL TO EXPEDIENTLY CORRECT SAID DEFECTS . PARTIAL DRAWINGS ARE PERMITTED UNDER THIS IRREVOCABLE LETTER OF CREDIT . SAIDDRAFTS MAY BE SUBMITTED FOR PAYMENT IMMEDIATELY FOLLOWING THE PERFORMANCE OF MAINTENANCE WORK UNDER THIF IRREVOCABLE LETTER OF CREDIT AND SUCH DRAFT FWALL BE DULY HONORED UPON PRESENTATION IF PRESENTED IN CONFORMITY WITH THF'.' TERMS OF THIS CREDIT AND PRESENTEII AT OUR COUNTERS ON CR BEFORE THE EXPIRATION DATE OF THIS LETTER OF CREDIT . IFY WITHIN THIRTY ( 30) DAYS OF THE DATE OF ANY DEMAND ( MADE: Ii'! CONFORMITY WITH THIS IRREVOCABLE LETTER OF CREDIT ) PR'ESENTEDY UE:. FAIL TO HONOR SAME , WE AGREE TO PAY ALL A'TTOIRNE:Y FEESY COURT COSTS AHI: OTHER RZASONABLE EVPENSES INCURRED BY THE 'TILLAGE OF ELF; GROVE VILLAGE IN ENFORCING THE TERMS OF THIS IRREVOCABLE LETTER OF CREDIT . THE AMOUNT OF EACH DRAFT MUST BE ENDORSEE Oil .THE REVERSE SIDE OF THE ORIGINAL IRREVOCnBLi' LE 7E.R OF CREDIT BY THE VILLAGE ENGINEER AMD ATTESTED B ; THE GLERK . THIS IRREVOCABLE LETTER OF CREDIT SHALL BE UTILIZED TO GUARANTEE THE MAINTENANCE: OF ALL IMPROVEMENTS INITIALLY ACCEPTED BY THE YI1_LAGIE: OF ELI, GROVE VILLAGE 05 SPECIFIED ON THE 453—BUILT " ENCI°EERINGDRAWINC3 . THIS IRREVOCiBLE LETTER OF CREDIT SHALL NOT OPERATE AS A LIMITATION UPON THE OBLICATION OF THE SDK INDUSTRIAL PARKE TO PROMPTLY MAINTAIN ALL SITE IMPROVEMENTS &S DIRECTCD BY THE FILLAGE OF ELI': CRO':E VILLAGE . THE UNDERSIGNED SHALL NOTIFY THE VILLAGE NAKACERY BY CERTIFIED MAIL: RETURN RECEIPT REQUESTED , AT LEAST NINETY (9C ) DAYS PRIOR TO SAID EXPIRATION DATE: THAT EAID IRREVOCABLE LETTER OF CREDIT is ABOUT TO EXPIRE . WE ENGAGE WITH YOU THAT DRAFTS DRAWN UNDER AND IN CONFORMI7Y WITH THE TERMS OF THIS CREDIT WILL DE DULY HONORED ON PRESENTATION IF PRESENTED ON OR BEFORE THE EXPIRY DATE . THE ORIGINAL LETTER OF CREDIT MUST ACCOMPANY THE DOCUMENTS REQUIRED UNDER THIS CREDIT THE CREDIT IS SU'BjECT TO THE UNIFCRM CUSTOMS AND PRACTICE ? CF: DOCUMENTARY .'EC'.. ., Q75Z f2c1I.,I N . . lie"ERNATICi4AL i,HryMREc; 1:c. COMMERCE —PUBLICATION ;OG . CUES VERY TRULY ? 7HE. TIRCT iv a i JNA L I`Air'., CIF il. LAt.i!: �. yys.--- -_ - PREPARE,RiAU'THiF1- L SIGNER i AUTHORIZED SIF, ORIGINAL EED OF CONVEYANCE/BILL OF SALE KNOW ALL MEN BY THESE PRESENTS, that SDK Industrial Pajrks (the "Developer'l, loated at 33 West Monroe, Chicago Illinois 60603 , a nartnershin (corporation, partnership, individual) authorized to do business in the State of Illinois, for an 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 Gant, Sell, Transfer Over, Convey and Deliver unto the Village of Elk Grove Village (the "Village") , Cook and DuPage Counties, Illinois, a municipal corporation, to and for its own use forever the following: UNDERGROUND IMPROVEMENTS MWatermain and Appurtenances nX Sanitary Sewer and Appurtenances L_J Storm Sewer and Appurtenances M=lAft- S tit ften=wd=Farca=main =fir SURFACE IMPROVEMENTS [=}=tte =(C�rx�=��ttergPdeea�ent9 (�=s'ea£#i��k ,�tssst=s:mss located in the Project known as Regent Office Center/Midway. Motor Lodge , (the "Project") as described on the "as-built" engineering plans prepared by Elk Grove Engineering Company , located at 860 Lively Blvd Elk Grave Village , Illinois - 6n0n7 2 ,I and dated 6/6/85 , 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 Devel- oper 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/Dead of Conveyance is an authorized Act of Said Corpor- ation, Individual or Partnership. IN WITNESS WHEREOF, the Village has caused this instrument to be signed and delivered this /,0 day of 198 D R AND JR, INCORPORATED CORPORATE (N ) (Date) (� SEAL, President (Title) �— ATTEST: yJ� � /0 8 NOTARY (Name) (Date) SEAL Notary pu;, 1^ .,-r lllinci; 9 My ccmr..:ss r' co 1s90 . _v 3 r plans and specifications. . 1 �OiL�v L' DEVELOPERS)/OWNER(S) SDK Industrial Parks August 10, 1987 (Name) (Date) VILLAGE INSPECTOR (Name) (Date) ASSISTANT VILLAGE 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 sub- mitted and found to be acceptable. (Date) (Name) (Title) 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 spec- ific work indicated above and is subject to a final punch list being made concerning adjustment, alignment and necessary repairs of all structures, boxes, hydrants, etc. Acceptance of maintenance by the Village does not relieve the developer from the responsibility of keeping all dirt and debris due to construction operations out of both storm and sanitary sewer systems. Final acceptance of the subdivision or other general development is conditional upon completing 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 refund of maintenance escrow monies will be made until all items in the final punch list have been corrected. VILLAGE OF ELK GROVE VILLAGE By: CERTIFICATE OF APPROVAL AND INITIAL ACCEPTANCE SUBDIVISION: Regent Office Center/Midway Motor Lodge (Project Name/Phase.....etc.) Request is hereby made by the-sm Industrial Parksto the Village of Elk Grove Village to approve the subdivision/project described above. The following information is submitted in support of this request: LJ Deed of Conveyance/Hill of Sale 0 •As-Built• Engineering Drawings (3-print sets/l mylar set) Bill of Materials (Material Type, Quantities 6 Cost) aMaintenance Guarantee (Bond, Letter of Credit...etc.) OWNER(S)/DEVELOPER(S) : SDK Industrial Parks ADDRESS: 33 W. Monroe St. Chicago, IL. 60603 TELEPHONE: 312-346-8600 REFERENCE: ao Plan No. 740n Sheets _ 7 Dated 9!9178 8 specifications. Prepared by Elk Crove Engineering Company and approved by the Village of Elk Grove Village. CONf'D. ... z IMPROVEMENT DESCRIPTION: C1 Watermain and Appurtenances FI Sanitary Sewer and Appurtenances Storm Sewer and Appurtenances Roadway (Curb and Gutter) Roadway (Pavement) Roadway (Markings) Sidewalk Street Lights Parkway Trees C3 Ponds (Detention/Retention) Other (Lift Station.. .etc.) CERTIFICATIONS: DESIGN ENGINEER'S CERTIFICATION To the best of my knowledge and belief, the construction of the above described improvement has been completed in accordance with the approved plans and specifications, prepared by (Name) Elk Grove L •;ineering Corm an`__ (Address) 860 Livelv Blvd Elk Grow Pillage, IL 60007 1 (Date) (Ill. P.E. No.) c (Signature) SEAL DEVELOPER/OWNER CERTIFICATION FIELD INSPECTORS CERTIFICATION I hereby certify that I (we) have regularly inspected the above described 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