HomeMy WebLinkAboutRESOLUTION - 32-78 - 5/9/1978 - PERFORMANCE BOND/WINSTON GROVERESOLUTION NO. 32-78
A RESOLUTION ACCEPTING AND PLACING ON FILE A SUBDIVISION PERFORMANCE
BOND FROM SAFECO INSURANCE COMPANIES, NO. 2776415 IN THE AMOUNT OF
$1,176,000.00 FILED WITH THE VILLAGE BY CENTEX HOMES MIDWEST INC.,
GUARANTEEING THE CONSTRUCTION OF PUBLIC IMPROVEMENTS IN WINSTON
GROVE SECTION 23A
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 Subdivision Performance Bond No. 2776415
in the amount of $1,176,000.00 from Safeco Insurance Companies to guarantee
the construction of public improvements: streets, curbs, underground facilities,
sidewalks, streetlights, street signs and parkway trees in Winston Grove Section
23A, in accordance with plans and specifications prepared by Henderson and
Bodwell, 220 Express Street, Plainview, New York, 11803.
Section 2. That the President and Board of Trustees do also authorize
that upon the satisfactory installation of the aforementioned public improve-
ments, the Village of Elk Grove Village shall reduce the amount of this bond
by the following incremental sums: 1.) Utilities $632,500.00; 2.) roadway -
phase I, $354,000.00; 3.) roadway phase II, $189,500.00. Before the reduction
of each incremental sum the bonding company shall provide a rider bond of 10%
of the amount that the original bond was reduced.
Section 3. That this resolution shall be in full force and effect from
and after its passage and approval according to law.
PASSED this 9th day of May , 1978.
APPROVED this 9th
ATTEST:
Village C k
day of
SAFECO INSURANCE COMPANIES
SAFECO INSURANCE COMPANY OF AMERICA
GENERAL INSURANCE COMPANY OF AMERICA
FIRST NATIONAL INSURANCE COMPANY OF AMERICA -1-77G.115
-i_`.IE �, I FE( O FLAZA ]EATT'_E NASHINuT(iN ')WbB
�
VLD1'J1JI'J.i r^,OTD
ICt'. ALL :R."I TiY T, USl: T)T*,' TTS, That tae CrITI { HO TS itIDT '.ST, L"TC.
of Palatine, Illinois as Princinal, and SAFECO
INSUXVJ(—� CO'PAITY OF a i7ashin(-ton corporation, having its nrincinal
office and place of busin,'ss in the City of Seattle, ',''as:lington, as Surety,
are held and finely bound unto the Village of E11c rrove, Illinois in the sum of
(IM 'tIu 0, ONE 11ITT)RID SLV Try Sr' T-,O[JsxTD \:ID <10/100(^01,17G,000.00)Dollars,
for canicih pavment well and truly to be made, ae bind ourselves, our heirs,
executors, aa=. istrators, successors, and assigns, jointly and severally, firmly
by these presents.
Sal= with our seals and dated this 7th day of April 1979
?•]fIERP.'1.S, the above bounden Principal has been or is about to be granted approval
for a plat of subdivision known as Winston ',rove -Section 23A
said approval being conditioned upon the installation of streets, curbs,
underground utilities, sidewalks, street licTllts, street signs, and parkway
trees.
in said subdivision, in accordance with plans and specifications prepared by
Itenderson and Hodcoell, 120 r•coress Street, Plainview, New York, 11903.
N-�T, TIiT 270-ZE, TIT, CO:3JITIaN OP TIIIS OBLIGNPIO`I IS such, that if the above
Princinal shall indemnify and save harmless the VILIY'1T Or ELK GROSS' VILTAcI,
ILLr',OI3 against loss to which the V=-'11� Or ELI: CE:OVE VILLA(C, ILliI_IOIS may
be subject by reason of said Principal's breach of performance or any ordin-
ance, rule or regulation relating to the above described remit, than this
o:mligation sihall 'r- null and void, othen7ise to retain in `.all force and effect.
EU71 Ln in consideration For the ,mrincipal's satisfactory installation of the
afore *,entioned L--z)roverpnts THE VILIA(M Or ELT.0 (-,1n'vT 1,7I=r,E shall reduce the
a*hount of this bond 'my the following incremental sums: 1) utilities $632,500.00,
2) roa?wav-phase 1 $35.1,000.00, 3) roadway phase 2 $139,500.00.
Iill: Grove Village has the right to pursue against surety and to enforce tle
I
ond in the State of Illinois.
C,ZITEX 110 T -S MIDU ST, I:IC.
By: itZu'� 4
SCO I:ISUv1I]L� CO'L.A1Y OI ERICA
SAFECO INSURANCE COMPANY OF AMERICA
GENERAL) JRANCE COMPANY OF AMERICF
HOME OFFICE: SAFECO PLAZA, SEATTLE, WASHINGTO R 98185
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS:
No. 2351
That Safeco Insurance Company of America and General Insurance Company of America, each a Washington
corporation, does each hereby appoint
---------------------------------VINCENT J. HORTON ----------------------------------
its true and lawful attomey(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 America and General Insurance Company of America have each
executed and attested these presents
V I • , HAM SECRETARY
this
11th
day of August 19 72
ACKNOWLEDGMENT BY SURETY
STATE OF Illinois )))
} ss
County of I:ane 1
GaPRWON E
On this 7t'1 day of _ AT)ril 1978_, before me personally
appeared VIPICITIT J. 1101M_I known to me to be the Attorney -in -Fact of
SAFECO INSURANCE COMPANY OF AMERICA, GENERAL INSURANCE COMPANY OF AMERICA or FIRST
NATIONAL INSURANCE COMPANY OF AMERICA, the corporation that executed the within instrument, and aeknowt-
edged to me that such corporation executed the same.
IN WITNESS WHEREOF, 1 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 above written. �, R
Notary Public in the State of
(Seal) County of
5-230 R310/72 PRINTED IN U.S.A.
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 each corporation
this 7th
JCRoRMpF�yo CE COMP fyo
s CDR RRTE "
SEAL SEAL
sr' 1953 `oa �f 1925 `-k
c -ova Pa vv, SOF WA$MiNG Gh of WIS*
day of April 1973
RAM La�LA, SECRETARY
PPINT911 IN 11 S A