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HomeMy WebLinkAboutRESOLUTION - 69-88 - 10/25/1988 - 4TH AMENDMENT TO SBL ANNEX AGRMT RESOLUTION NO. 69-88 A RESOLUTION AUTHORIZING THE VILLAGE PRESIDENT AND VILLAGE CLERK TO EXECUTE A FOURTH AMENDMENT TO AN ANNEXATION AGREEMENT BETWEEN THE VILLAGE OF ELK GROVE VILLAGE AND THE SUCCESSORS IN INTEREST TO THE SBL DEVON - 53 APARTMENT DEVELOPMENT BE IT RESOLVED by the President and the 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 authorized to sign the attached documents entitled "FOURTH AMEND- MENT 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 documents upon the signature of the Village President. Section 2: That this Resolution shall be in full force and effect from and after its passage and approval according to law. VOTES : AYES : 5 NAYS: 0 ABSENT: 1 APPROVED : Charles J. Zettek VILLAGE PRESIDENT ATTEST: Patricia S. Smith VILLAGE CLERK PASSED this 25th day of October 1988 . APPROVED this 25th day of October 1988 . FOURTH AMENDMENT TO ANNEXATION AGRE000 This Agreement , made and entered into this 25th_ day of October , 1988, by and between the VILLAGE OF ELK GROVE and KERNEL P . PARIKH, RIVER FOREST STATE BANK & TRUST COMPANY , as Trustee under Trust No. 1688, and AMERICAN NATIONAL BANK & TRUST 3 COMPANY , as Trustee under Trust Nos . 400'83 and 46145, WITNESSETH: WHEREAS, KERNEL P . PARIKH is the contract purchaser of the subject matter property hereinafter described and referred to as Phase III ; and WHEREAS, RIVER FOREST STATE BANK & TRUST COMPANY , as Trustee under Trust No. 1688 is the legal owner of Phase III; and WHEREAS, AMERICAN NATIONAL BANK & TRUST COMPANY, as Trustee 3 under Trust Nos . 400x3 and 46145 is the legal owner of the subject matter property hereinafter described and referred to as Phases I and II ; and WHEREAS, the above referenced properties are all part of a single planned unit development commonly known as the Devon-53 Development; and WHEREAS , said properties are subject to an Annexation Agreement made and entered into with the VILLAGE OF ELK GROVE on May 6, 1975 as amended on January 27, 1976, June 14, 1983 , and September 23 , 1986; and WHEREAS, said Annexation Agreement with the VILLAGE OF ELK GROVE , as amended , provides for the maintenance of all of the common open space within the above referenced properties to be provided for through the establishment of an Illinois not-for- profit corporation, the membership thereof to be comprised of the owners of the above referenced parcels; and WHEREAS, the parties hereto wishing to comply with the spirit, intent and purposes of said provisions of the subject Annexation Agreement but not wishing to convey any underlying title interest in their respective properties or to relinquish control to maintain their individual properties; and WHEREAS, a Declaration of Easement covering the subject properties which complies with the provisions and requirements of said provisions of the subject Annexation Agreement has previously been filed with the Cook County Recorder 's Office on March 3 , 1977 , as Document No . 2924530; and WHEREAS, the parties hereto have determined that it is in their best interest to continue with said Easement Declaration in and along all of the common open space in their respective properties; and WHEREAS , the owners of the subject properties have petitioned the VILLAGE OF ELK GROVE for an amendment to the subject Annexation Agreement and a public hearing has been held concerning such an amendment. NOW, THEREFORE, IN CONSIDERATION OF THE FOREGOING, and of the mutual promises and guarantees provided herein, the receipt and sufficiency of which are hereby acknowledged , and other good and value considerations, the parties hereto do hereby agree that 2 paragraph 17 of the first amended Annexation Agreement be and is hereby further amended to read as follows: "Maintenance of Private Areas . All of the common open space , retention pond , drainage lines , all private access driveways , outdoor parking areas , walkways , emergency vehicles lanes , and street lights and signs in the private areas described and depicted in Phases 1, 2 and 3 of the PLAN, together with such sanitary sewer and water service lines as shall not be donated to VILLAGE, shall be owned by, cared for, maintained , repaired and replaced by and at the expense of DEVELOPER initially and thereafter , the ownership , care, maintenance, repair and replacement of the same shall be assigned , conveyed , transferred and delivered to person (s) from time to time owning the residential buildings constructed upon Phases 1, 2 and 3; provided , however , that any portion of the common open space to be conveyed to the VILLAGE in accordance with paragraph 15 shall be excluded from the requirements of this paragraph. Prior to approval by VILLAGE of any final plat for Phases 1, 2 and 3 DEVELOPER or OWNERS shall file for review and approval by VILLAGE and thereafter shall record grant of easements covering the real estate contained therein providing for the requirements of this paragraph. The OWNERS of each phase shall be responsible for the necessary care, maintenance, repair and replacement as to their own common open space and their own improvements thereon . All of which shall be maintained in accordance with all applicable Village codes and ordinances . WITNESS WHEREOF, the parties have caused this Agreement to be executed by the Village President and the Village Clerk of the VILLAGE OF ELK GROVE, KERNEL P. PARIKH, the RIVER FOREST STATE BANK 5 TRUST COMPANY as Trustee under Trust No. 1688, and 3 AMERICAN NATIONAL BANK & TRUST COMPANY as Trustee under Trust 3 Nos . 400'83 and 46145. VILLAGE OF ELK GROVE By Charles J. Zettek President Kernel P . Parikh ATTEST: Patricia S. Smith RIVER FOREST STATE BANK & Village Clerk TRUST COMPANY, as Trustee Under Trust No. 1688 AMERICAN NATIONAL BANK & TRUST COMPANY, as Trustee Under Trust By No. 400`Q3 3 By AMERICAN NATIONAL BANK & TRUST COMPANY , as Trustee Under Trust No. 46145 By PREPARED BY: William A. Cogley Attorney at Law DONALD T. MORRISON & ASSOCIATES, P .C. 32 N. West Street Waukegan, Illinois 60085 312/244-2660 4