The URL can be used to link to this page

Home My WebLink AboutRESOLUTION - 101-78 - 12/12/1978 - LOC/BILL OF SALERESOLUTION NO. 101-78 A RESOLUTION ACCEPTING A BILL OF SALE, LETTER OF CREDIT NO. 1168(5) FROM THE OLD ORCHARD BANK AND ACCEPTING FOR PERMANENT OWNERSHIP AND MAINTENANCE, THE STREETS, CURB AND GUTTER, STORM SEWER, SANITARY SEWER AND WATER MAINS INSTALLED IN PERRIE DRIVE AND GROVE TERRACE AS SHOWN ON ENGINEERING DRAWINGS PREPARED BY R.B. NEWKRANZ & ASSOCIATES DATED APRIL 12, 1972. WHEREAS, the Developer has submitted a Bill of Sale and Letter of Credit in lieu of a Maintenance Bond in the amount of $25,000.00 expiring on August 1, 1980 to the Village of Elk Grove Village as required by the Subdivision Control Ordinance and has fully complied with all provisions of any and all ordinances appertaining and; WHEREAS, the Developer has completed all repairs to public improvements as required by the Village, has made full payment of fees, and has submitted required As -Built -Engineering Plans; 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 Village of Elk Grove Village does hereby accept�a Bill of Sale and Letter of Credit No. 1168(s) for public improvements excluding side- walks as shown on engineering drawings prepared by R.B. Newkranz dated April 12, 1972, otherwise described as Perrie Drive and Grove Terrace. Section 2. That the sidewalks will be built under Letter of Credit No. 1165(s) from the Old Orchard Bank. Section 3• That this resolution shall be in full force and effect from and after its passage and approval according to law. PASSED this 12th APPROVED this 12th ATTEST: Ilafern Snick Acting Deputy Village Clerk day of December , 1978• day of December , 1978• Charles J. Zettek Village President Old Orchard Road Skokie, Illinois 60077 (312) 679-2200 Old Orchard Bank IRREVOCABLE LF.TTF.R OF CREDIT No. 1168 (s) Amount: $25,000.00 Dated: August 24, 1978 Mr. Charles A. Willis Village Manager Village of Elk Grove 901 Wellington Elk Grove, Illinois 60007 Gentlemen: We hereby open an Irrevocable Letter of Credit in your favor for the sum not to exceed Twenty-five Thousand and no/100 ($25,000.00) Dollars United States Currency, for the account of Ben Rozansky and Robert Bradley, as general partners of Regency Square Associates, 4339-B Milwaukee Avenue, Chicago, Illinois, available by vour drafts at sight on us drawn in the name of Village of F.lk Grove, an Illinois Municipal Corporation, Elk Grove, Illinois. All drafts so drawn must be marked "Drawn under Old Orchard Bank and Trust Company credit No. 1168 (s) dated August 24, 1978." Drafts must be accompanied by a certified statement from the Village .Manager, Village of Elk Grove that Ben Rozanskv and Robert Bradley as general partners of Regencv Souare Associates, have failed to construct in Regency Square Development, the following improvements: sanitary and storm sewer water mains, street paving, curb, gutter and public sidewalks, all of which were to have been installed in accordance with the engineering plans prepared by R. B. Newkranz & Associates, Civil Section, dated April 12, 1972; or a statement that the above principals have failed to maintain, repair or replace the public improvements in the Regencv Souare Development that have deteriorated or failed to meet performance or operating standards and further shall Day any penalties which may be incurred as a result thereof. Except so far as otherwise stated herein, this Credit is subject to the "Uniform Customs and Practices for Documentary Credit (1974 Revision) the International Chamber of Commerce Publication No. 290." We hereby engage with the drawers, endorsers and bona fide holders of drafts drawn under and in compliance with the terms of this credit that same shall be duly honored upon presentation and surrender of the documents to the drawee as above specified. This Credit must accompany any draft which exhausts the credit and must be surrendered concurrently with the presentation of such draft. This credit expires August 1, 1980. Draws under this credit are not permitted prior to Mav 1, 1980. Sincerely, OLD ORCH / BANK Anl ATRUST COMPANY Bv: BILL OF SALE THIS INDENTURE WITNESSETH: That REGENCY ASSOCIATES, an Illinois limited partnership, BEN ROZANSKY and ROBERT D. BROADLEY (hereinafter referred to as "Sellers"), for and in consideration of the sum of TEN DOLLARS ($10.00) and other good and valuable consideration in hand paid, the receipt and sufficiency of which are hereby acknowledged, hereby grant, bargain, sell, transfer, set over, assign, convey and deliver unto THE VILLAGE OF ELK GROVE VILLAGE, Cook and DuPage Counties, Illinois, a municipal corporation (hereinafter referred to as the "Village"), the following: Street improvements, curbs, lights, water, sanitary sewer and storm mains and drains and equipment as listed and located on engineering plans prepared by R. B. Newteranz & Associates identified as Project Number 8369 dated April 12, 1972, which plans are incorporated by reference and made a part hereof and in place. TO HAVE AND TO HOLD all of the property hereby granted, bargained, sold, transferred, set over, assigned, conveyed and delivered unto the Village, its successors and assigns, to and for its own use forever. AND the Sellers hereby covenant with the Village that they are the lawful owner of and have good and marketable title to said properties hereby granted, bargained, sold, transferred, set over, assigned, conveyed and delivered; that said property is free from all encumbrances; that the Sellers have the right to sell the same as aforesaid; that they will warrant and defend said property against the lawful claims and demands of all persons. IN WITNESS WHEREOF, said Sellers have caused this instrument to be signed in its general partners, all of this (F - day of /- (� 19_ REGENCY ASSOCIATES, an Illinois li, By TO: Village Manager FROM: Village Engineer Date 12-8-78 SUBJECT: Certification of Improvements in Perrie Grove Apartment Complex. I, C. Kenneth Schuster , Village Engineer, Village of Elk Grove Village, do hereby certify that the following named public improvements have been constructed and/or installed in accordance with the design, operating standards, and requirements of the Village, Metropolitan Sanitary District of Greater Chicago, and the Illinois Environmental Protection Agency: *Streets and curbing *Sidewalks Water Mains, valves and hydrants Sanitary Sewer Mains and manholes Storm Sewer Mains, manholes and inlets Said improvements are those specifically included in As -built Engineering Drawings entitled Perrie Grove Apts.(Proj. #8369) and dated , April, 1972 , as prepared by eu ranz Associates. I further certify that the following site improvements were designed according to Village requirements and they: (a) have been constructed in compliance with those requirements: Driveway aprons Backyard drainage swales Storm water detention/retention facilities (b) have been installed in compliance with those requirements: Parkway trees Street Name signs (c) will be constructed or installed according to those requirements on or before , pursuant to the attached letter from the developer marked EXHIBIT A: Street Lights In addition, and pursuant to Ordinance #1038, be advised that the developer has submitted a Maintenance Bond and/or an Indeminification Agree- ment to guarantee maintenance, repair or replacement of the foregoing improve- ments which is (are) acceptable, said instrument is (are) attached as EXHIBIT(s) B (and ) and entitled irrevocable Letter of Credit , dated Aug. 24, 19 to t e amount of $25,U00.00 and expiring ug• *Separate Letters of Credit have been submitted Respectfully submitted by the developer to cover installation of sidewalk I / and replacement of defective curbs. C NOTE: The attached memorandum dated Dec. 8, 1978 Village Engineer, is made a portion of this certification. Village of Elk Grove Village