HomeMy WebLinkAboutRESOLUTION - 65-81 - 11/24/1981 - AGRMT/BONGI GROUP/CIRCLE BAY INC RESOLUTION NO. 65-81
A RESOLUTION ACCEPTING AN AGREEMENT BETWEEN THE VILLAGE OF ELK
GROVE VILLAGE AND THE BONGI GROUP , DEVELOPERS OF CIRCLE BAY, INC.
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 accept
an Agreement signed by the Village Manager of the Village of Elk Grove
Village on behalf of the Village, and the Bongi Group - Circle 3ay, Inc. ,
developers of the Circle Bay Subdivision, a copy of which is attached hereto
and made a part hereof as if fully set forth.
Section 2. That the Village Clerk is hereby directed to record a
copy of this resolution in the Office of the Cook County Recozder.
Section 3.- That this resolution shall be in full force and effect
from and after its passage and approval according to law.
PASSED this 24th day of November 1981 .
APPROVED this 24th day of NovemJ)er
ATTEST: Village Pre,� l 7
Ll
ViIJage Clerk
November 19, 1981
A G R E E M E N T
AGREEMENT, made as of the_2Z�e�day of November,
1981, by and between The Bongi Group - Circle Bay, Inc. ,
an Illinois corporation (hereinafter referred to as "Bongi") ,
and the Village of Elk Grove Village (hereinafter referred
to as "Village") .
W I T N E S S E T H:
WHEREAS, BONGI is a corporation organized and existing
under the laws of the State of Illinois and which is developing
single family residence in the Village of Elk Grove Village
referred to as the Circle Bay Estates , and legally described
as follows :
Lots 1 through 94 of Circle Bay Subdivision,
being a Subdivision in the Southwest 4 of
the Southwest k of Section 32 , Township 41
North, Range 11, East of the Third Principal
Meridian in Cook County, Illinois .
WHEREAS, BONGI has applied for building permits to
construct five (5) single family residences contained therein;
and
WHEREAS , VILLAGE, as a condition precedent to issuing
itj building permits has imposed certain payment requirements
on BONGI as hereinafter set forth:
NOW, THEREFORE, IT IS AGREED:
1. BONGI shall pay to VILLAGE as hereinafter provided
the total sum of Twenty-Five Thousand Three Hundred Twelve
and N01100 ($25 , 312 . 00) Dollars , which amount represents
the total engineering, inspection and review fees attributed
to the Circle Bay Estates Subdivision.
2 . The aforesaid amount shall be paid as BONGI applies
for building permits for each of the remaining seventy-two
(72) single family residences contained in the subdivision
which amount shall be paid prorata on the basis of a per
lot fee of Three Hundred Fifty-one and 55/100 ($351. 55) Dollars .
Said payments shall be in addition to the payment of One
Hundred Ninety-One and 49/100 ($191. 49) Dollars per lots
11 /19/81
previously established pursuant to an Agreed Order entered
into between the parties so that the total payment shall
be Five Hundred Forty-three and .04/100 ( $543 .04) Dollars
per lot .
3 . Upon the execution hereof , BONGI shall pay to
VILLAGE the costs for the installation of five ( 5) street
lights to be installed by Commonwealth Edison, of approxi-
mately Eight Hundred Eighty-six and NO1100 ($886 .00) Dollars,
per street light and further agrees to pay within seven (7)
days of notification by VILLAGE any additional costs for
said street lights as evidenced by invoices from Commonwealth
Edison Company . Further, BONGI agrees to pay the cost for the
installation of four (4) additional street lights within seven
(7) days of notification of the amount due as evidenced by an
invoice from Commonwealth Edison CompanyAjo �'A, LICHTS MAt-c-
ell
4. Upon the execution hereof VILLAGE agrees to issue
all necessary permits to BONGI upon application by BONGI
without the requirement of further payment except as provided
herein.
5. Should BONGI sell any lot or lots to a third party ,
then the payment as set forth in paragraph 2, hereof shall be
immediately due and shall be paid to the VILLAGE within
thirty (30) days of the closing of L.ny such lot .
6. This Agreement shall be binding upon the parties
hereto, and shall inure to the benefit of , and be enforceable
by the legal representatives, succes- ors and assigns of
each c-f the parties hereto.
7. Any modifications of this Agreement or waiver of
any provision herein contained shall not be binding upon
the parties hereto unless in writing and signed by or on
behalf of the parties hereto.
IN WITNESS WHEREOF, the parties hereto have executed
this Agreement on the day and year first written above.
THE BONGI GROUP - CIRCLE BAY, INC.
ttest CARL BONGI , Pre d nt
THE VILLAGE OF ELK GROVE VILLAGE
Attest 4
2-