HomeMy WebLinkAboutRESOLUTION - 6-82 - 2/23/1982 - SUBDIVISION BOND/PUB IMPROVEMENTS RESOLUTION NO, 6-82
A RESOLUTION ACCEPTING A CONTINUATION CERTIFICATE TO A SUBDIVISION
BOND FROM SAFECO INSURANCE COMPANIES, NO.2881701 IN THE AMOUNT OF
$1 ,414,128.00 FILED WITH THE VILLAGE BY CENTEX HOMES MIDWEST, INC.
GUARANTEEING THE CONSTRUCTION OF PUBLIC IMPROVEMENTS IN WINSTON GROVE
SECTION 23 B
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 so hereby authorize
the acceptance of a Continuation Certificate to Subdivision Bond from Safeco
Insurance Companies, No. 2881701 , in the amount of $1 ,414, 128.00 to guarantee
the construction of public improvements: streets, curbs, underground facilities,
sidewalks, street lights, street signs and parkway trees in Winston Grove
Section 23B, in accordance with plans and specifications prepared by
Henderson and Bodwell , 120 Express Street, Plainview, New York 11803. Said
original Subdivision Bond adopted by Resolution No. 84-79 on October 9, 1979.
Continuation Certificate will expire on October 9, 1982.
Section 2, That the President ond Board of Trustees do also authorize
that upon the satisfactory installation of the aforementioned publi.c improve-
ments the Village of Elk Grove Village shall reduce the amount of this bond
by the following incremental sums:
FROM: Utilities, $766,909.00 TO: $388,454.50
Roadway Phase 1 ,$409,885.00 TO: $2o4,942.50
Roadway Phase 11 , $227,334.00 TO: $113,667-00
as shown on original surety rider and Continuation Certificate.
Section 3. That this resolution shall be in full force and effect from
and after its passage and approval according to law.
PASSED this — 23rd day of February 1982.
APPROVED this 23rd day of February 982
ATTEST*
t
I. ve V11 lage President
V111-91 Clerk
GUN I (NUAf IUN CEK I IFICAI E t;AFI-CU (II!,U1 ..(�CL WMI'ANT 01- ,O.ILWC�
GENEHAL INSUHANCE COMPANY OF AMEHICA
FIRST NATIONAL INSURANCE COMPANY
SIUECO OF AMERiCA
HOME OFFICE: SAFECO PLAZA
SEATTLE,WASHINGTON 98185
SAFECO INSURANCE COMPANY OF AMERICA, Seattle,Wasliington,Surety upon
a certain Bond No. 2881701
da(ed effective Sentember 19, 1976
(MONIH - DAY - YEAR)
oil t)e1jalf of Centex Homes Midwest, Inc.
and in favor of Villaqe of Elk Grove, Illinois
(OULIGFE)
does licreby continue said bond in force for the furtlier period
beginning on October 9, 1981
(NION111 -DAY -YEAR)
and endin.,, on October 9, 1982
(MON Fri. DAY- YEA10
Amount of bond ONE MILLION FOUR HUNDRED FOURTEEN THOUSAND _- Dollars,($1,414,128.00 ).
ONE HUNDRED TWENTY EIGHT AND N01100--------
Description of Bond: streets . curbs , undercrround utilities, sidewalks , street lights, street
signs and parkway trees in Winston Grove, Section 23—B
premium: S 4264.00
PROVIDED: That diis continuation certificate does not create a new obligation and is executed upon the express condi-
tiffll and provision that die Surety's liability under said bond and tfiis and all Continuation Certificates issued in connection
flierewith sliall not be cumulative and that said Surety's aggregate liability under said bond and this and all such Continua-
tion Certificates on account of all deraultS Committed during the period (regardless of the number of years) said bond lias
been and sliall be in force,shall not in any event exceed the amount ofsaid bond as hereinbefore set forth. -*tl CONP4,1,
Signed and dated on October 12, 1981
(NIONTH - DAY -YEAR) �A
SEAL
SAFECO INSURANCE COMPANY OF AMERICA
19
By,
OF WASO
Marianne Wilhelm At torn ey-in-Fact
S-1 225 R2 1117 7 PRINTED iN U.S.A.