HomeMy WebLinkAboutRESOLUTION - 64-87 - 10/13/1987 - LOC ADDENDUM/BETTER LIVING SUB RESOLUTION NO. 64-87
A RESOLUTION ACCEPTING AN ADDENDUM TO LETTER OF CREDIT
LC-EGV-1986-1 FROM ARLINGTON FEDERAL SAVINGS AND LOAN
ASSOCIATION REDUCING THE AMOUNT TO $21,880.00 TO
GUARANTEE COMPLETION OF PUBLIC IMPROVEMENTS IN BETTER
LIVING SUBDIVISION (Res. No. 32-86)
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 acceptance of an addendum to Letter of Credit No.
LC-EGV-1986-1. The addendum reduces the Letter of Credit amount
from $83,100.00 to $21,880.00 to guarantee the completion of remaining
public improvements as well as guarantee interim maintenance of
completed public improvements in the Better Living Subdivision, the
legal description as fully described in Exhibit "A" attached hereto
and made a part hereof, and in accordance with engineering drawings
and specifications with revisions dated March 18, 1986, prepared by
Norman J. Toberman, 615 W. Rockwell, Arlington Heights, Illinois and
approved by the Engineering Department of the Village of Elk Grove
Village on April 14, 1986. Said letter of credit expiring August 11,
1988.
Section 2: That this Resolution shall be in full force and effect
from and after its passage and approval according to law.
PASSED this 13th day of October 1987.
APPROVED this 13th day of October 1987.
Charles J. Zettek
ATTEST: Village President
Ilafern R. Snick
Deputy Clerk
EXHIBIT "A"
LEGAL DESCRIPTION
THE SOUTH 290 FEET (MEASURED ALONG THE EAST LINE) OF
THE EAST 450.65 FEET (MEASURED ON THE SOUTH LINE) OF
THAT PART OF THE SOUTHEAST 1/4 OF SECTION 29, TOWNSHIP
41 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN,
DESCRIBED BY BEGINNING AT A POINT IN THE WEST LINE OF
SAID QUARTER 21.44 CHAINS (1415.04 FEET) NORTH OF THE
SOUTHWEST CORNER OF SAID SOUTHEAST 1/4; THENCE SOUTH
87 DEGREES EAST 1479 FEET TO AN IRON STAKE IN THE CENTER,
OF ROAD; THENCE NORTHERLY IN THE CENTER OF SAID ROAD
450.89 FEET TO AN ANGLE IN SAID ROAD; THENCE NORTH IN THE
CENTER OF SAID ROAD 84. 11 FEET TO AN IRON STAKE; THENCE
NORTH 89 AND THREE FOURTHS DEGREES WEST 1499.4 FEET TO
A POINT IN THE WEST LINE OF SAID QUARTER 535 FEET NORTH
OF PLACE OF BEGINNING; THENCE SOUTH ALONG THE WEST LINE
OF SAID QUARTER 535 FEET TO THE PLACE OF BEGINNING, IN
COOK COUNTY, ILLINOIS.
August 11, 1987
G E
G=�'EP'A',LtT'tALNtArfin9!ton Federal
tiGINtElt
25 E.C�pWi Street,Adm9ton Heght%tL GM05 (312)255 9000 tAA
ADDENDUM TO IRREVOCABLE
LETTER OF CREDIT
Village Manager
Village of Elk Grove Village
901 Wellington Avenue
Elk Grove Village, Il 60007
Completion Guaranty
Letter of Credit No. LC-EGV-1986-1
Date: March 21, 1986
Amount: $83, 100.00
Project: Better Living Subdivision
Completion Date: April 1, 1987
Expiration Date: July 1, 1987
Dear Village Manager:
The above referenced Irrevocable Letter of Credit is hereby
amended as follows:
Amended Date: August 11, 1987
Amended Amount: $21, 880.00
Amended Completion Date: May 11, 1988
Amended Expiration Date: August 11, 1988
These amended terms and conditions shall hereby supersede the
original terms and conditions. All other terms and conditions
shall remain the same and are hereby reaffirmed.
Please affirm your consent to these amendments by signing and
returning the copy provided.
ARLINGTON HEIGHTS FEDERAL
SAVINGS AND LOAN ASSOCIATION
By
Robert T. Kowall
Vice President
AFFIRMATION
The Village of Elk Grove Village
By:
Title:
Dated:
ARUNGTON HEIGHTS FEDERAL SAWNGS AND LOAN ASSOCIATION
WAIVER OF LIEN TO DATE
STATE OF ILLINOIS � SS Gty#
COUNTY OPOOK
Loan#
TO WHOM IT MAY CONCERN:
WHEREAS the undersigned has been employed by Better LIving CO. , Inc-
to furnish General Contracting Service
forthepmmisesknowna, 500 S Arlington Hts. Rd. , Elk Grove Village / Better Living Subdivision
ofwhich Better Livinp Co. , Inc is the owner.
THE undersigned, for and in consideration of Ninety Nine Thousand Eight Hunderd Fifty Six 86/100
99,856.86 ) Dollars.and other good and valuable considerations.the mccipt whereof is hereby acknowledged.do(es)
hereby waive and release any and all I ien or cl aim of.or right to,I ien.undcrt he statutes of the State of I I I inois,relating to mechanics'I iens,with mspect to
and on said above-dcscribed premises, and the improvements themon. and on the material. fixtures, apparatus or machinery furnished, and on the
moneys,funds or other considerations due orto become due from the owner,on account oflabor services,material, fixtures.apparatus or machinery,
furnished to this date by the undersigned forthe above-described premises.
Given under hand and scal -this
Thirteenth dayof August . 19_�7
Signature and Seal:
NOTE:All waivers must be for the full amount paid. If waiver is for a corporation.corporate name should be used,corporate teal affixed and t4le of
officer signing waiver should be set forth;if waiver is for a partnership.the partnership name should be used.pariner should sign and designate himself
as partner.
CONTRACTOR'S AFFIDAVIT
STATEOFILLINOIS SS
COUNTYOF COOK
TO WHOM IT MAY CONCERN�
THE undersigned.being duly sworn,deposes and says that he is Dnnnl(I C_ Cpnrbnrt, Prpq-
orthe Rpttpr T.iving _C,Q ra
h ' thceontmetorforthe Land Improvements / Street mprovements and S;�wer a�d Water work on the
/W;located at 500 S ArlingtQn Hts. Rd. , Elk Grove Village
owned by R�t t or T j ir i n g Cn- , T It r
That the total amount ofthe contract including extras is$ 110,372.56 on which he has received payment of
0 99'856 86 prior to this payment. That all waivers am true. correct and genuine and delivered unconditionally and that
there is no claim either legal orequitable to defeat the validity of said waivers.That the following am the names ofall parties who have furnished material
or labor. or both. for said work and all parties having contracts or sub contracts for specific portions of said work or for material entering into the
construction thercofand the amount due or to become due to each.and that(he items mentioned include all laborand material required to complete said
work according to plans and specificafions-
CONTRAC71' AMOUNT THIS BALANCE
NANIES "HxrroR PRICE PAID PAYMENT DUE
Mc Guinn Tree Land Clearence 6500.00 6500.00 0 0
Bria__3eH2j__&_Wzjer___ Sewer/ Water 46988.00 46988.00 0 0
De Kaf Paying urbs 47709.56 41346.86 0 6362.70
Art Weiler NurqPry lTrpeq _1L50_QQ_ 1680.00 - 1470.00
James Ellinnn Riii-vPvina/Plats 1575.00 1975.00 0 0
Nor _hng!..P�_4noo_on 4ono-no 0 0
At t jrT(ITAbbyM)RqAIfj!jirFRIAI.To cotoipi.vm_l�_ L,)n c)() A"() ()f) n n
That them am no other contracts for said%orkouwand ing.and that there is noth ing due or to become due to any person for material,labor o��
of any kind done or to be done upon or in connection with said work other than above stated.
-1 1987
S, dayof August
d""
EA
OFFICIAL SEAL
0 EBEL
DOLORES J. K,'l 0 Signature: t111
T 1 01,
t i 0 F LLI N ,
401kRY PUBLIC. STATE OF ILLINOIS
�J�jj SS N 7X PI 8 C 0
y 0 OFF" 6/1 J�_�
ri Anhworn tolbefore me this Y
Subsc TAY1 Q%j%jj3Sjf)I I FXPIRES 6/IC/OC day of L)) JAt,Ll�
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