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Home My WebLink AboutRESOLUTION - 3-93 - 1/26/1993 - ANNEX AGRMT/FIRST AMENDMENT/SCHREINERRESOLUTION NO. 3-93 A RESOLUTION AUTHORIZING THE VILLAGE PRESIDENT AND VILLAGE CLERK TO EXECUTE A FIRST AMENDMENT TO ANNEXATION AGREEMENT BETWEEN THE VILLAGE OF ELK GROVE VILLAGE AND THOMAS R. SCHREINER AND THE FIRST AMERICAN BANK AS TRUSTEE UNDER TRUST NUMBER 1-92-051 WHEREAS, the Corporate Authorities of the Village of Elk Grove Village conducted a public hearing on a petition to amend an Annexation Agreement previously adopted pursuant to Resolution No. 4-85; and WHEREAS, the President and Board of Trustees after having considered the testimony evidence presented at said public hearing find and believe it to be in the best interest of the Village that the Annexation Agreement be amended as hereinafter set forth. NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees of the Village of Elk Grove Village, Counties of Cook and DUPage, Illinois as follows: ' Section 1: That the Village President be and is hereby au- thorized to sign the First Amendment to Annexation Agreement, a copy of which is attached hereto and made a part hereof as if fully set forth and the Village Clerk is authorized to attest said document upon the signature of the President. Section 2: That the Village Clerk is hereby authorized to record a copy of said First Amendment to Annexation Agreement upon its passage and approval. Section 3: That this Resolution shall be in full force and effect from and after its passage and approval according to law. VOTE: AYES: 6 NAYS: 0 ABSENT: 0 PASSED this 26th day of January , 1993. APPROVED this 26th day of January , 1993. ATTEST: Patricia S. Smith VILLAGE CLERK -2- Charles J. Zettek VILLAGE PRESIDENT FIRST AMENDMENT TO ANNEXATION AGREEMENT This First Amendment to Annexation Agreement made and entered into this 26tLy of January 1993, by and between the VILLAGE OF ELK GROVE VILLAGE (hereinafter referred to as "VILLAGE") and THOMAS R. SCHREINER AND THE FIRST AMERICAN BANK AS TRUSTEE UNDER TRUST NUMBER 1-92-051 (hereinafter collectively referred to as "OWNER"). W I T N E S S E T H WHEREAS, the OWNER owns certain subject property previously annexed to the VILLAGE pursuant to an Annexation Agreement duly executed and approved by the President and Board of Trustees pur- suant to Resolution No. 4-85, adopted and approved January 22, 1985; and WHEREAS, Paragraph 7 of said Agreement provided for the in- stallation by OWNER of a sanitary sewer lift station and force main to service the subject property and abutting properties; and WHEREAS, the VILLAGE, pursuant to a subsequent Annexation Agreement with Hamilton Partners, one of the abutting property owners, provided for the installation of said lift station and force main by Hamilton Partners, subject to reimbursement/recap- ture by OWNER herein and other parties; and WHEREAS, it is necessary to amend Paragraph 7 of this Annexa- tion Agreement to provide for the changes as set forth above. NOW, THEREFORE in consideration of the mutual covenants and agreements herein contained, it is hereby agreed by and between the parties hereto as follows: 1. This First Amendment is made pursuant to and in accordance with provisions of Illinois Revised Statutes, Chap. 24, §11-15.1-1, et seq. 2. That Paragraph 7 of the Annexation Agreement is hereby amended to read as follows: 7. SANITARY SEWER, LIFT STATION AND FORCE MAIN. Hamilton Partners Retail Division, "Hamilton Partners", pursuant to an Annexation Agreement with the Village, has agreed to con- struct, and pay the initial cost therefore, of a sanitary sewer line from the North boundary of its property to Bies- terfield Road, then West to Meacham Road, with a lift sta- tion to be located at Biesterfield Road South of Meacham Road. The Village has agreed to reimburse Hamilton for a portion of the above improvements subject to being reimbursed by Owner and other abutting property owners. In that regard, Owner shall be responsible for the prorata portion of the cost of such sanitary sewer improvements (reimburseable prin- cipal) based on the entire ratio of the acreage of the sub- ject property and the acreage of the entire "Sewer Service Area" as set forth on Exhibit 3 attached hereto. Thereafter, Owner shall reimburse the Village as follows: (a) At the anniversary date of the first reimburse- ment payment by the Village to Hamilton Partners, Owner shall pay to the Village the annual interest on all unpaid reimburseable principal at a rate -2- equal to the prime rate being charged by the First National Bank of Chicago, plus 2%, until said prin- cipal and accrued interest is fully paid. (b) Full payment of the reimbursement principal and accrued interest thereon shall be made on the date of (i) the sale of the property by Owner to a third party; (ii) the issuance of a building permit to Owner; or (iii) one year before the expiration of this Annexation Agreement, whichever first occurs. (c) Owner may elect to pre -pay the reimbursement prin- cipal and interest thereon at any time without penalty. IN WITNESS WHEREOF the parties have set their hands and seals this 26th day of January , 1993. VILLAGE: OWNER: VILLAGE OF ELK GROVE VILLAGE .j: Charles J. Zettek THOMAS R. SCHREINER VILLAGE PRESIDENT ATTEST: Patricia S. Smith V'!"LAGE CLERK -3- FIRST AMERICAN BANK as Trustee under Trust Number 1-92-051 By: Its: