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Home My WebLink AboutRESOLUTION - 75-78 - 9/26/1978 - EG TOWN ESTATES RESOLUTION NO. 75-78 A RESOLUTION ACCEPTING AN EXTENSION TO A LETTER OF GUARANTEE IN LIEU OF A PERFORMANCE BOND FROM NORTHWEST FEDERAL SAVINGS , GUARANTEEING THE CONSTRUCTION OF PUBLIC IMPROVEMENTS AND SURFACE COURSE REQUIREMENTS FOR THE ELK GROVE TOWN ESTATES LOCATED ON THE SOUTH SIDE OF ELK GROVE BOULEVARD BETWEEN RIDGE AVENUE AND J. F. KENNEDY BOULEVARD 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 of an extension to a Letter of Guarantee from October 31 , 1978 to December 31 , 1978 (original letter of Guarantee was for March 31 , 1978), in lieu of a Performance Bond, from Northwest Federal Savings, guaranteeing the construction of public improvements at Elk Grove Town Estates, said improvements as shown on Exhibit "A" attached hereto and made a part hereof. Said property located on the south side of Elk Grove Boulevard between Ridge Avenue and J. F. Kennedy Boulevard. Section 2. All other provisions of the original letter of guarantee are to remain the same. Section 3. That this resolution shall be in full force and effect from and after its passage and approval according to law. PASSED this 26th day of September 1978. APPROVED this 26th day of September , 1978. Charles J. Zettek 1 Village President ATTEST: Depu�t Vii 11 age C NORTH WEST FEDERAL SAVINGS 2454 DEMPSTER STREET•DES PLAINES, ILLINOIS 60016• 296-0900• DWD J. DENWOOD, President September 18, 1978 Mr. Charles A. Willis Village Manager Village of Elk Grove 901 Wellington Elk Grove Village, Ill. 60007 RE: Letter of Guarantee Elk Grove Town Estates Dear Mr. Willis: This letter is to serve as an addendum to our letter dated February 3, 1977, entitled, as above captioned. We hereby extend the time limit for the balance of the site work to be completed from March 31, 1978 to December 31, 1978, All other provisions of our letter are to remain the same. North West Federal Savings and Loan Association of Chicago 1�z zac-;��- k By: Robert L., Holzer Senior Vice President RLH/mb NORTH WEST FEDERAL SAVINGS 2654 DEMPSTER STREET DES PLAINES. ILLINOIS 60016 296-0900 DAVID J. DENWOOD, President March 7, 1978 Mr. Charles A. Willis Village Manager Village of Elk Grove 901 Wellington Elk Grove Village, I11. 60007 RE: Letter of Guarantee Elk Grove Town Estates Dear Mr. Willis : This letter is to serve as an addendum to our letter dated February 3, 1977, entitled, as above captioned. We hereby extend the time limit for the balance of the site work to be completed from March 31, 1978 to October 31, 1978. All other provisions of our letter are to remain the same. North West Federal Savings and Loan Association of Chicago ��, • Robert L. Holzer Senior Vice President RLHJmb F SLI HOME OFFICE. 4901 W. living Park Road Chicago, Illinois 60641 777-7200 I4901 W. IRVING PARK ROAD CHICAGO, ILLINOIS 60641 SPRING 7-7200 JOHN D. REED. P.esident February 3, 1977 Mr. Charles A. Willisr E D Village Manager Fc,� '--2 -7 „ Village of Elk Grove -- - 901 Wellington + r- Elk Grove Village IL 60007 Re: Letter of Guarantee Elk Grove Town Estates Dear Mr. Willis : 11.e are construction lenders for the above development. We understand that you require a guarantee in the amount of $55,000.00 covering items contained on Exhibit A, attached .hereto. Ile herebv certify to you that we will set aside the above amount of the loan for payment of the above-mentioned items. On completion of these items and submission of proper waivers by the contractors , we will dis- burse the full payment thereof. In the event the improvements with the exception of the 1" topping (third lift) -are not made by March 31, 1978, we will, at your demand, release said funds to you for the purpose of completing the aforementioned work. If the 1" topping (third lift) is not completed by October 1 , 1975 , we will release the balance of tite funds required to finish the tonpin-s to you at your demand. The amounts to be released, pursuant to the above provisions , are specified on the attached Exhibit A. North West Federal Savings and Loan Association of Chicago zl,co �i Robcrt L. Holzer j Senior Vice President RL11/sa �F Dl IGROUN ELK MOM TON 1STWAS ELK GrOVE VILLI\GE, ILLINOIS Unit Item No. Item Unit C2ucnhFhes Cos; Cc;t 1 . Street Grcciing Cu . Yds2T/.CC) 7.0? 1, 93; .00 .0r. 2. Earth ��cavciian (�Ioldin�r Tart<<) Cu. 1'ci.. 41%' n.. - 3. Coro Removal Ln. Ft. 62.00 L_,00 4. Sidewcli< r?ernoval F t. 2v0.00 1 .00 f 203.00 5. St:eei ?cve;nent (.-s to cross-sectian s,-,own on Slneei °2) Sq. Yds7.0.00 11C .C3 7,456.00 6. Curs and Gu„er Ln. Ft. 460.00 ^7.50 , 3,=:50.00 7. Si_e.vcl".< Sq. Ft. 1,240.00 1. 15 I 2. 115.00 2_ E° ' Moin Ln. Ft_ 346.CO _ 9.50 3, 237 .00 9. Gate VclvLs Eacn 3.00722777 i0. 12" Ccsi -.n IPT -a 20 1,,, .J Ln. Ft. 112.00 120.00 113,440.JC li _ 12" 2.C_?. Ln. Ft. 1,040.00 32. Inlets EQ C.') 12.00 250.00 �_ 3. ODO n0 13_ N;c,.Ro'.es Eccn x'..00 - in. 2" PVC Pipe Ln. Ft. 94.00 nr)I;, n, 15. W Truss Pipe Ln. Ft. 258.00 �- _8.0" 2.0 .00 16_ :2" Tress °Ica Ln- Ft. 35.00 - 1.7_ Fl =te C Each 1 .00 275.00 1 275 .00 Fecn 1 .00 300 ,00 I 3^0.0^ Preccst PAanKQ/F:cm2/Cover Ecco 3.00 S. �Q(1 ill_._ Cnn nn P.minbrccd Concrete ("u. Yds_ 122.00 C. S: ce (including =anc W;eel Stem) Eccn i ,CO _152,11 750_01) 22. - -=-:n^ Acre MY - 21 Eac;i 1 .00 -62a nr) 22, Filling of Holding Tank Cu. Yds. 185,00 - 700,00yr $ 64,312. 00. , :ill I.S01 CY Z 1TIC nI3t3CH ATTORNEYS AT LACY NOR`.LX-, E. SA-MMLSO-N 750 LEE STREET GEORGE B. ENIC!i f:ZIR )CHER, DES PLAINES. ILLINOIS 60016 TFLaPHON_ (372) 827-5177 STEPIIEY C. TF:NNANT February 2, 1977 North,:,est Federal Savings & Loan Association IN RE: Letter of Guarantee/GS Builders/ Village of Elk Grove Village Gentlemen : As counsel for Elk Grove Village , we attached a form of letter of Guarantee, which we would find acceptable. Very truly yours , SA_ti " SON & KNICKrRBGCKER By /George B . Knickerbocker GB ;i yh - Encl.