HomeMy WebLinkAboutRESOLUTION - 83-83 - 12/13/1983 - ANNEX AGRMT/LANCER CORP RESOLUTION NO . 83-83
A RESOLUTION AMENDING PARAGRAPH 6, PAYMENT TO
FUND, OF THE ANNEXATION AGREEMENT PREVIOUSLY
APPROVED BY RESOLUTION NO. 23-78 AND ESTABLISHING
A SCHEDULE FOR INSTALLMENT PAYMENTS OF OUTSTANDING
SUMS OF MONEY
WHEREAS , paragraph 6 of an Annexation Agreement entered
into in 1978 with John F. and Esther A. Palumbo and the Lancer
Corporation required three (3) annual payments to the Village
of Elk Grove; and
WHEREAS, two (2) annual payments have been made and one
(1) has not been made ; and
WHEREAS, three (3) separate extensions of time to make
the last payment have been requested by the Lancer Corporation
and granted by the Village; and
WHEREAS, no payments have been made in accordance with
each extension; and
WHEREAS, the Lancer Corporation has requested Village
approval of a fourth (4) extension and an installment pay-
ment schedule obligating the Corporation to payments on
February 1, 1984, March 1, 1984, May 1, 1984, July 1, 2984,
and September 1, 1984 including interest on the unpaid balance
to the final payment date;
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 as follows:
Section 1: That paragraph 6 of an Annexation Agreement
entered into in 1978 with John F. Palumbo and Esther A. Palumbo
and the Lancer Corporation be and the same is hereby amended
to provide that the 3rd annual payment to the Village ' s Traffic
Signal - Municipal Purpose Fund plus interest at the rate of
138 per annum be due and payable to the Village as follows :
February 1, 1984 (accrued interest to December
1, 1983) $1 , 275 . 55
March 1, 1984 $1 , 000 . 00
May 1 , 1984 $1 , 000 . 00
July 1, 1984 $2, 000. 00
September 1 , 1984 $1 , 666. 68
September 1 , 1984 (a sum of money equal to the
interest on the unpaid balance
from December 1 , 1983 through
September 1 , 1984 .
Section 2. That the Village Manager be and is hereby
authorized to deny new building permits and occupancy permits
within the Shenandoah Subdivision if payments are not received
by the Village on or before any due date set forth in Section
1 of this Resolution, and further to issue building and occu-
pancy permits upon receipt of payment or payments due according
to Section 1 .
Section 3. That the remaining provisions of said Annex-
ation Agreement shall be in full force and effect.
Section 4. 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 December , 1983 .
APPROVED this 13th day of December , 1983.
VOTE: AYES: 6
NAYS : 0
ABSENT: 0
Charles J. Zettek
Vil age President
ATTEST:
Patricia S. Smith
Village Clerk