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HomeMy WebLinkAboutRESOLUTION - 68-85 - 8/27/1985 - SUBDIVISION BOND RESOLUTION NO. 68-85 A RESOLUTION ACCEPTING A SUBDIVISION BOND FROM SAFECO INSURANCE COMPANIES, NO. 4928268 IN THE AMOUNT OF $219,350.00 FILED WITH THE VILLAGE OF ELK GROVE VILLAGE BY CENTEX HOMES CORPORATION ILLINOIS DIVISION GUARANTEEING THE CONSTRUCTION OF PUBLIC IMPROVEMENTS IN SECTION 23 B, RESUBDIVISION NO. 3 (WESTGATE) 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 auth- orize the acceptance of a Subdivision Bond from Safeco Insurance Companies, No. 4928268, in the amount of $219,350.00 to guarantee the construction of public improvements: watermain, sanitary sewer, storm sewer, streets, curb, sidewalks, street lights and parkway trees and sod in Section 23 B, R6sub- division No. 3 in accordance with plans and specifications prepared by Henderson and Bodwell, 120 Express Street, Plainview, New York 11803 with a revision date of February 28, 1985. Section 2. That this Resolution shall be in full force and effect from and after its passage and approval according to law. PASSED this 27th day of August 1985. APPROVED this 27th day of Aug6st 1985. Charles J. Zettek Village President ATTEST: Patricia S. Smith Village Clerk SUBDIVISION PERFORMANCE BOND Completion Guaranty Bond No. 4928268 Date July 10, 1985 Amount ($219,350.00 ) KNOW ALL MEN BY THESE PRESENTS, That we, Project Name Westgate Village C=XHUITES CORPORATION, IL. DIV. Sec. 23B, Resub No. 3 (hereinafter called the Principal) , as Completion Date July, 1987 Principal, located at 887 E. Wilmette Road, Suite C No Expiration Date in the (City/Village/Town) of Palatine County of Cook State of Illinois and Safeco Insurance Company of America —(hereinafter called the "Surety", a Surety company organized and existing under the Laws of the State of Washington with its principal office located at Blanchard Building in the (City/Village/Town) of Seattle State of Washington , and authorized to conduct a surety business in the State of Illinois, as surety, are indebted, held and firmly bound unto the Village of Elk Grove, hereinafter called the "Village" (Obligee) located at 901 Wbllington Avenue in Elk Grove Village, Counties of cook and DuPage, State of Illinois, as obligee in the just and full sum of TKO Hundred NirietePn Thousand Three Hundred Fifty and no/100 --- (s219,350.00 ) Lawful U. S_._ Dol- lars, for the payment of which sum, well and truly to be made, that said Prin- cipal and surety bind ourselves, our legal representatives, our respective heirs, administrators, executors and successors, and assigns jointly and severally, firmly by these presents. WHEREAS, the conditions of this is such that, the above bounded Principal has filed approved engineering plans and specifications for the "Project" titled Improvement Plans forWinston Grove Resubdivision No. 3, Section 23B 2 with a revised date of 28 day of February 19 85 , prepared by of Henderson 4, _-Bodwell located at 120 Express St. in Plainview State of New York for the construction, installation and interim maintenance of public site improvements, shown on these plans, including; but not limited to the categories below: (Mark "X" in appropriate boxes) . ESTIMATED COSTS Lz�_, Watermain 44,650.00 ) Sanitary Sewer ($ 38,150.00 ) Storm Sewer ($ 23,000.00 ) L.:Ij Roadway (Curb & Gutter, Pavement), 69,000.00 ) FXJ Sidewalk (s 28,800.00 ) RX Street Lights 4,300.00 ) r-1-1 Ljjj Parkway (Trees*, Sod) ($ 11,450.00) EI Traffic Control (Signals, Signs, Markings) ($ Ponds (Detention/Retention) ($ Excavation (Soil Erosion Control, Stockpile, etc.) Other (Retaining Walls, Lift Stations) Said improvements to be installed in accordance to municipal, District, County, State and Federal requirements on the following described property: EXHIBIT A Westgate Village Resub No. 3 Being a part of the Southeast quarter of Section 26 Township 41 North, Range 10 East of the Third Principal 14eridian in Cook County, IL. WHEREAS, Surety hereby agrees that no modifications, omissions, or additions in or to the engineering plans and specifications referred to herein, shall in any manner affect the obligations of Surety on its bond. FURTHER, that said Principal shall fully indemnify, save harmless, and Surety shall reimburse said Village of Elk Grove Village for any loss that said Village of Elk Grove Village may suffer through the failure of said Prin- cipal to faithfully and properly perform the installation of the public site improvements as described above. The Surety shall reimburse said village for 3 any loss that the Village may suffer through the failure of said Principal to faithfully observe and perform each and every obligation and duty imposed upon the Principal to satisfactorily construct said public site improvements, by the 1st day of JulY 19 87 hereinafter called "Completion 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 incremental sums for the completed underground and surface im- provements. WHEREAS, Surety hereby agrees that 'any minor modifications (less than 5% bond amount) omissions, or additions in or to.the engineering plans and specifications referred to herein, shall not in any manner affect the obligations of the Surety to perform under its bond obligation. FURTHER, it shall be a condition precedent to any right of recovery hereunder, that in the event of any default on the part of the Principal a written statement of the particular fact showing the nature of such default shall be delivered to the Surety by Certified Mail at its home office at 1900 W. Ha8sell Rd. , Hoffman Estates,IL Attention: Claims Department. WHEREAS, Surety hereby agrees that upon receipt of said written state- ment it will promptly commence to take anv and all necessary steps to satis- facto;:ily complete the construction of all remaining public site improve- ments required, but not yet installed, with all associated legal, engineering and admi-nistartive 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 shall well and truly keep, do and perform each and every, all and singular, for the construction of the site public improvements in the "Project" as specified on the approved engineering plans and specifications, to the satisfaction of the Village 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 failure or default 4 on the part of the Principal, so to do then this obligation shall be null and void; otherwise it shall be deemed to run continuously and shall remain in full force and effect. WHEREAS, Elk Grove Village 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 10th day of July 19 85 SAFECO INSURANCE COMPANY OF AMERICA CENTEX HOMES CORPORATION, IL. DIV. BY: BY: SAN IKSA TITLE�A tor -PI3nFact TI Z SEAL SEAL *Note: (1) If signed by Attorney-In-Fact, please attach a certified notar- ized copy - Power-of-Attorney with acknowledgement by Surety. (2) If the property owner is a Trust, attach a copy of the Trust Agreement. ATTEST: NOTARY SEAL (Date) Village Official AcEeptance Resolution: POWER OF SAFECO INSURANCE COMPANY OF AMERICA ArTORNEY GENERAL INSURANCE COMPANY OF AMERICA HOME OFFICE: SAFECO PLAZA SAJ%C0 SEATTLE, WASHINGTON 98185 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 –—–—–———–—–JULIA CONANT; SUSAN J. PREIKSA, Chicago, its true and lawful attornev(s)-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 AM ERICA and GENERAL INSURANCE COMPANY OF AMERICA have each executed and attested these presents this 9th day of February 19 84 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-anorney 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." 1. W.D. Hammersla. 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 10th day of July . 1985 S-974 R9 9/81 MINTED IN USA ACKNOWLEDGMENT BY SURETY STATE OF Illinois SS County of Cook On this 10th day of July 19 5 before me personally appeared qTTC:AN j ppli:1-2p. known to me to be the Attorney-in-Fact of SAFECO INSURANCE COMPANY OF AMERICA, GENERAL INSURANCE COMPANY OF AMERICA, FIRST NATIONAL INSURANCE COMPANY OF AMERICA or SAFECO NATIONAL INSURANCE COMPANY, the corporation that executed the within instrument, and acknowledged to me that such corporation executed the same. IN WITNES� WHEREOF, I have hereunto set my hand and affixed my official seal, at my office in the aforesaid County, the day and year, in this certificate first b tten. otary Public in khe State of�inois (Seal) golunty of Cook S-230 R4 6/78 PRINTED IN U.S.A.