HomeMy WebLinkAboutRESOLUTION - 7-80 - 1/8/1980 - ROUNDTREE COMMONS BOND RESOLUTION NO. 7-80
A RESOLUTION ACCEPTING A CONTINUATION CERTIFICATE FOR A SUBDIVISION
BOND FROM THE INTERNATIONAL FIDELITY INSURANCE COMPANY TO PROVIDE
COVERAGE FOR REPAIRS TO BE COMPLETED ON THE PUNCH LIST FOR PUBLIC
IMPROVEMENTS AT THE ROUNDTREE COMMONS DEVELOPMENT, EAST OF HOME AVE.
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 and placing on file of a Continuation Certificate to a Subdivision
Bond No. CP 31885 from the International Fidelity Insurance Company in the amount
of $19,000.00 to provide coverage for repairs to be completed on the punch list
for the public improvements located at the Roundtree Commons Townhouse Develop-
ment, according to plans and specifications prepared by Wested Engineering,
dated August 1 , 1976 with revisions through March 14, 1977 and known as Job
No. 76-14. Said Continuation Certificate shall terminate on December 31 , 1980.
Section 2. That this resolution shall be in full force and effect from and
after its passage and approval according to law.
PASSED this 8th day of January 1980.
APPROVED this 8th day of January 1980.
ATTEST: Village . esi
Vil ge Clerk
INTERNATIONAL FIDELITY INSURANCE COMPANY
i 1018 SOUTH STATE STREET
CHICAGO,ILLINOIS 60605
PHONES • SURETY BONDS
427-2648
9224945 CONTINUATION CERTIFICATE
International Fidelity Insurance Company (hereinafter called the
-
Company) hereby continues in force its Bond No,CP 31885in the
sum of NINETEEN THOUSAND AND 00/100 - - - - - - - - -
Dollars ($ 191 "o .00 ) � on behalf of 1ST ARLINGTON NATIONAL BANK
AS TRUSTEE, TRUST NO. A 638 in favor of
VILLAGE OF ELK GROVE VILLAGE,. ILLINOIS for the (extended)
term beginning on the 31st day of DECEMBER 19 79 , and ending
on the 31st day of DECEMBER 19 80 , subject to all the
covenants and conditions of said Bond.
This Continuation is executed upon the express condition that
the Company' s liability under said Bond and this and all continuations
thereof shall not be cumulative and shall in no event exceed the sum
of; NINETEEN THOUSAND AND 00/100 - - - - - - - - - - - - -
Dollars ($ 191000. 00 )
IN WITNESS WHEREOF, the Company has caused this instrument to
be signed by its" Attorney-in-Fact proper for the purpose and its
corporate seal to be hereto affixed this 5th day of DECEMBER
19 79 .
INTERNATIONAL FIDELITY
INSURRANCEE COMPANY /
BY
ATTEST: r Attorney-in-Fact
U '