HomeMy WebLinkAboutRESOLUTION - 56-86 - 7/22/1986 - ACCEPT PERFORMANCE BOND RESOLUTION NO. 56-86
A RESOLUTION ACCEPTING A SUBDIVISION PERFORMANCE BOND FROM
SAFECO INSURANCE COMPANY OF AMERICA, NO. 5007488 IN THE
AMOUNT OF $1,434,084.00 FILED WITH THE VILLAGE OF ELK GROVE
VILLAGE BY CENTEX HOMES ENTERPRISES, INC. GUARANTEEING THE
CONSTRUCTION OF PUBLIC IMPROVEMENTS IN SECTION 23B, RESUB—
DIVISION NO. 5
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 a Subdivision Bond from Safeco Insurance
Company of America, No. 5007488, in the amount of $1,434,084.00, completion
date of August 1, 1989, to guarantee the construction of public improvements:
watermain, sanitary sewer, storm sewer, roadway (curb & street) , parkway
(trees & sod) in Section 23B, Subdivision No. 5 in accordance with the
plans and specifications prepared by Henderson and Bodwell, 120 Express
Street, Plainview, New York with a revised date of March 11, 1986.
Said Subdivision Performance Bond has no expiration date.
Section 2. That this Resolution Shall be in full force and effect
from and after its passage and approval according to law.
PASSED this 22nd day of July , 1986.
APPROVED this 22nd day of July , 1986.
Charles J. Zettek
Village President
ATTEST:
Patricia S . Smith
Village Clerk
® .FECO 1. IANCE COMPANY OF AMERICA
GENERAL INSURANCE COMPANY OF AMERICA
FIRST NATIONAL INSURANCE COMPANY
OF AMERICA
SAFEcCO HOME OFFICE:SAFECO PLAZA
C a_ . SEATTLE,WASHINGTON 98185
SUBDIVISION PERFORMANCE POND
COMPLETION GUARANTY BOND NUMBER 5007488
---------- -------------
DATE June 6, 1986 AMOUNT $1434084. 00
PROJECT NAME SECTION 23B RESLIB
COMPLETION DATE AUGUST 1 , 1989 NO EXPIRATION DATE
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KNOW ALL MEN BY THESE PRESENTS, That we, CENTEX HOMES ENTERPRISES INC.
(hereinafter called the Principal ) , as Principal . located at B87
Wilmette Suite C. in the City of Palatine, County of Cook, State of
Illinois., and Safeco Insurance Company of America (hereinafter called
the "Surety" a surety company organized and existing under the Laws of
the State of Washington, with its principal office located at the
Blanchard Building in the City of Seattle, State of Washington, and
authorized to conduct a surety business in the State of Illinois, as
surety, are indebted, held and firmly bound unto the Village of E'_ l::
Grove, hereinafter called the "Village" (Obligee) located at 901
Wellington Avenue in Elk Grove Village, Counties of Cool: and Du age.
State of Illinois. as obligee in the Just and full sum of $1 , 4._4. 084. 00
(ONE MILLION FOUR HUNDRED THIRTY-FOUR THOUSAND EIGHTY-FOUR ) Lawful U.
S. Dollars, for the payment of which sum, well and truly to be made,
that said Principal and surety bind our=_elves, our legal
representatives, our respective heirs, administrators, executors and
successors, and assigns jointly and severally, firmly by these
presents.
WHEREAS. Surety hereby agrees that no modifications, omissions, or
additions in onto the engineering plans and specifications referred to
herein, shall in any manner affect the obligations of Surety on it' s
bond.
FURTHER, that said Principal shall fully indemnify, save harmless, and
Surety shall reimburse said Village of Ell: Grove Village for any loss
that said Village of Ell: Grove Village may suffer through the failure
of said Principal to faithfully and properly perform the installlation
of the public site improvements as described above, The Surety shell
reimburse said Village for any loss that the Village may suffer through
the failure of said Principal to faithfully observe and perform each
and every obligation and dutimposed upon the Principal to
satisfactorily construct said public
ic site improvements, by the first
day of August; 1989, hereinafter called "Completi.on Date" .
FURTHER, in consideration for the principals satisfactory installation
of the aforementioned improvements., the Village of Elk Grove shall with
accompanying documentation, valid waivers of lien approve bond
resolution requests in incrementtal sums for the completed underground
and surface improvement=_..
WHEREAS, the condidtions of this is such that. the above boanded
Principal has filed ag2roved engVIineerinq glans and specificatinn For-
the
ur
thz "Prnject " tt
iled DECTION 25D RE5UDDISION 5 0ith s revised date
of MARCH 11 , 1986 prepared by Henderson and Bodwell located at 120
YxPress Street in Plainview, State of New York; fur the construction.
installation and interim maintenance of Public site improvements, shown
on these plans, including, but not limited to the categories below.
1 " WATERMAIN $144647 $159112
2. SANITARY SEWER $146350 $160985
3. STORM SEWER $125265 $137792
4. ROADWAY
' CURB $74410 $81551
STREET $513213 $564534
5. SIDEWALK $74200 $B1620
b^ PARKWAY
TREES $21000 $231()0
SOL, $204627 $225090
7. TRAFFIC CONTROL o o
S. PONDS O 0
9^ EXCAVATION 0 O
10. OTHER o C)
TOTAL $1303712 $1434()84
*
NOTE: Left column shows engineers estimate. Right column shows:
engineers estimate times 1 . 1 as required by the Vi1lage of Elk Grove,
Said imrovmments to he installed in accordance to Municipal , District,
County, " State and Federal requirements on the following described
propert7z
LEGAL DISCRIPT1DN OF SECTION 23D RESUB 5
Part of the Southeast 1/4 of Section 26 Township 41 North, Range 10
East of the Third Principal Meridian in Conk County.
WMEREAS, Surety hereby agrees that any minor modifiratons (less than 5%
hond amrunt} omissions, or additions in or to the engineering glans and
spoecifiratinns referred to herein, shall not in *ny manner affect the
o�ligaiions of the Surety to perform under its bond obligation.
FyPTHER, it shall be a condition precedent to any right of recovery
hereunder, that in the event of any default an the part of the
Principal a written statement of the particular fact showinq the nature
of such default shall be delivered to the Suret7 b? CertiTied Mail at
its home office at 1900 W. Hassell Rd. , Hoffman Estates. ILL.
Attention; Claims Department.
_
WHEREAS. Surety hereby agrees that upon receipt of said written
statement it &. 11 promptly commence to take any and all necessary steps
to sL*tisfactnrily completethe construction of all remaining puhlic
site improvements requzred' but not yet installed, with all associated
legal , engineering and administrative costs being paid by the Surety.
FURTHER, It is a condition of this bond that any suit under this bond
shall be filed within a period of one year from completion of said
work .,
NOW, THEREFORE the condition of this obligation is such, that if said
Principal shali well and truly keep, do and perform each and every, all
and singular for for the construction of the site public improvements in
the ''P t ifi d +h d engineering l d
roj�c ^ as sp�c � on e approve eng er g p ans an
specifications, to -he satisfaction of the Yilla?e Engineer, done and
Performed, by the completion date, or shall pay over, make good and
reimburse to the Village. all loss and damage which said Village may
sustain by reason of feilure or default on the part of the Principal ,
50 to do, then this obligation shall be null and void; otherwise i `
shall be deemed to run continuously and shall remain in full force and
effect.
WHEREAS, Elk Grove Villapc has the right to pursue against the Surety
and to enforce the provisions of this bond in the State-of Illinois"
In witness whereof , said Surety and Principal have caused these
presents to be signed and sealed this _6th _ day of
___-June--.------
SAFECO INSURANCE COMPANY OF AMERICA CE0TEXB0MGS ENTERPRISES, INC.
Blow
SUS N J. PRE
TIT6L1E-., torney-In Fact TITLE: r
SEAL � . � SEAL
�
< `
. ./
Y NoteN ( 1 ) If signed by Attorney-In-Fact` please attach a certified
notarized copy of �owr�r-oF-Attorney with actnowledgement by Surety.
(2) If the property owner is a Trust, attach a ropy of the
Trust Agreement.
ATTEST:
DATE;
VILLAGE OFFICIAL ACCEPTANCE
RESOLUTION:
® PC _R SAFEC tURANCE COMPANY OF AMERICA
GENER, ASURANCE COMPANY OF AMERICA
OF r.ITCANEY
HOME OFFICE. SAFECO PLAZA
tznjSEATTLE.WASHINGTON 98185
SAFECD
No. 5173
KNOW ALL BY THESE PRESENTS:
That SAFECO INSURANCE COMPANY OF AMERICA and GENERAL INSURANCE COMPANY OF AMERICA,each
a Washington corporation, does each hereby appoint
------------------------SUSAN J. PREIKSA, Chicago, Illinois-------------------------
its true and lawful attorneys)-in-fact, with full authority to execute on its behalf fidelity and surety bonds or undertakings
and other documents of a similar character issued in the course of its business, and to bind the respective company thereby.
IN WITNESS WHEREOF,SAFECO INSURANCE COMPANY OF AMERICA and GENERAL INSURANCE COMPANY
OF AMERICA have each executed and attested these presents
this 8th day of August _ 19 35
CERTIFICATE
Extract from the By-Laws of SAFECO INSURANCE COMPANY OF AMERICA
and of GENERAL INSURANCE COMPANY OF AMERICA:
"Article V, Section 13. — FIDELITY AND SURETY BONDS . . . the President, any Vice President, the Secretary, and any
Assistant Vice President appointed for that purpose by the officer in charge of surety operations, shall each have authority
to appoint individuals as attorneys-in-fact or under other appropriate titles with authority to execute on behalf of the
company fidelity and surety bonds and other documents of similar character issued by the company in the course of its
business. . . On any instrument making or evidencing such appointment,the signatures may be affixed by facsimile. On any
instrument conferring such authority or on any bond or undertaking of the company,the seal,or a facsimile thereof, may be
impressed or affixed or in any other manner reproduced; provided, however, that the seal shall not be necessary to the
validity of any such instrument or undertaking."
Extract from a Resolution of the Board of Directors of SAFECO INSURANCE COMPANY OF AMERICA
and of GENERAL INSURANCE COMPANY OF AMERICA adopted July 28, 1970.
"On any certificate executed by the Secretary or an assistant secretary of the Company setting out,
(i) The provisions of Article V, Section 13 of the By-Laws, and
(ii) A copy of the power-of-attorney appointment, executed pursuant thereto, and
(iii) Certifying that said power-of-attorney appointment is in full force and effect,
the signature of the certifying officer may be by facsimile, and the seal of the Company may be a facsimile thereof."
I, Boh A. Dickey, Secretary of SAFECO INSURANCE COMPANY OF AMERICA and of GENERAL INSURANCE
COMPANY OF AMERICA,do hereby certify that the foregoing extracts of the By-Laws and of a Resolution of the Board of
Directors of these corporations,and of a Power of Attorney issued pursuant thereto,are true and correct,and that both the
By-Laws, the Resolution and the Power of Attorney are still in full force and effect.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the facsimile seal of said corporation
this 6th day of JUNE 19 86
S 97 R10 3;86 PRINTED IN U S A
• MOWLEDGEMENT OF SURETY
STATE OF ILLINOIS
COUNTY OF COOK
On this 6th day of June 1986 , before me personally
appeared SUSAN J. PREIKSA , known to me to be the
Attorney-in Fact of SAFECO INSURANCE COMPANY OF . .F.ICA , the
corporation that executed the within instrument, and acknowledged to me that such
corporation executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal, at my
office in the aforesaid County, the day and year inthis certificate first above written./
Notary Pu lic