HomeMy WebLinkAboutRESOLUTION - 106-80 - 11/12/1980 - LOC/SDK REGENT BUS CTR PHASE IRESOLUTION NO. 106-80
A RESOLUTION ACCEPTING A LETTER OF CREDIT NO. FNBC 1412-00300362 FROM
THE FIRST NATIONAL BANK OF CHICAGO IN THE AMOUNT OF $510,078.22 TO
GUARANTEE THE CONSTRUCTION OF PUBLIC IMPROVEMENTS IN THE SDK REGENT
BUSINESS CENTER, PHASE I (PROJECT 7054)
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 Letter of Credit No. FNBC 1412-0300363 FROM THE FIRST NATIONAL
BANK OF CHICAGO in the amount of $510,078.22, to guarantee the construction of
public improvements in the development known as SDK Regent Business Center, Phase I
(Project 7054) as fully detailed in Exhibit ''A'' attached hereto and made a part
hereof in accordance with engineering plans prepared by Elk Grove Engineering
Company, 860 Lively Boulevard, Elk Grove Village, Illinois and approved by the
Village of Elk Grove Village on October 3, 1980. Said Letter of Credit becoming
effective October 28, 1980 and expiring on September 1, 1981.
Section 2. That this resolution is in full force and effect from and after
its passage and approval according to law.
PASSED this 12th day of November 1980.
APPROVED this 12th day of November 1980.
Charles J. Zettek
Village President
ATTEST:
Fay M. Bishop
Village Clerk
�. lie First National Bank of h ;o
Cable address. NATIONAL CHICAGO
Telex number 2-53801
STANDBY CREDIT
VILLAGE OF ELK GROVE
ELK GROVE VILLAGE, ILLINOIS
GENTLEMEN:
BY THE ORDER OF:
SDK INDUSTRIAL PARKS
A JOINT VENTURE
BY DRAPER AND KRAMER INCORPORATED,
A JOINT VENTURE PARTNER
30 WEST MONROE STREET
CHICAGO, ILLINOIS 60603
WORLDWIDo 9ANKING DEPARTMENT
1NTERNATIL AL TRADE SERVICES GROUP
Two First National Plaza/Chicago, Illmois 600110
DATE: OCTOBER 28, 1980
MAIL
ALL DRAFTS DRAWN MUST BE MARKED:
FNBC: 1412-00300362
OPENER'S REFERENCE NO. 300362
WE HEREBY ISSUE IN YOUR FAVOR OUR IRREVOCABLE CREDIT FOR THE ACCOUNT OF
SDK INDUSTRIAL PARKS FOR AN AMOUNT OR AMOUNTS NOT TO EXCEED IN THE
AGGREGATE US DOLLARS 510,078.22 (FIVE HUNDRED TEN THOUSAND SEVENTY
EIGHT AND 22/100 US DOLLARS) AVAILABLE BY YOUR DRAFTS AT SIGHT ON THE
FIRST NATIONAL BANK OF CHICAGO, CHICAGO, ILLINOIS U.S.A. EFFECTIVE
OCTOBER 28, 1980 AND EXPIRING AT OUR OFFICE ON SEPTEMBER 1, 1981.
FUNDS UNDER THIS CREDIT ARE AVAILABLE AGAINST YOUR DRAFT(S) MENTIONING
OUR CREDIT NUMBER AS IT APPEARS ABOVE.
THE BELOW -MENTIONED DOCUMENTS MUST BE PRESENTED AT SIGHT ON OR BEFORE
THE EXPIRY DATE ON THIS INSTRUMENT IN ACCORDANCE WITH THE TERMS AND
CONDITIONS OF THIS LETTER OF CREDIT.
BENEFICIARY'S SIGNED AND SWORN STATEMENT EXECUTED BY THE VILLAGE MANAGER
AND THE VILLAGE ENGINEER (AND SIGNED AS SUCH) STATING THE FOLLOWING:
1. SDK INDUSTRIAL PARKS HAS FAILED TO COMPLETE CERTAIN PUBLIC IMPROVEMENTS
IN THE DEVELOPMENT KNOWN AS SDK REGENT BUSINESS CENTER, PHASE 1 (PROJECT
7054) AS MORE FULLY DETAILED IN EXHIBIT A ATTACHED TO AND FORMING AN
INTEGRAL PART OF LETTER OF CREDIT NO. 300362 AND IN THE ENGINEERING
PLANS PREPARED BY ELK GROVE ENGINEERING COMPANY, 860 LIVELY BLVD., ELK
GROVE VILLAGE, ILLINOIS 60007, WHICH PLANS WERE APPROVED BY THE VILLAGE
OF ELK GROVE ON OCTOBER 3, 1980; AND
2. THE AMOUNT SO DRAWN IS THE FULL AMOUNT NECESSARY TO COMPLETE SUCH
IMPROVEMENTS.
THIS LETTER OF CREDIT MAY BE REDUCED FROM TIME TO TIME BY SDK INDUSTRIAL
PARKS DELIVERY TO US OF THE VILLAGE OF ELK GROVE'S SIGNED STATEMENT
INDICATING THE AMOUNT BY WHICH THIS LETTER OF CREDIT NO. 300362 MAY BE
REDUCED.
THIS LETTER OF CREDIT IS AVAILABLE ON AND AFTER JULY 1, 1981. DRAWINGS
PRIOR TO JULY 1, 1981 ARE PROHIBITED.
(CONTINUED) PAGE 1
ORIGINAL
t�j' � aa1.:9 ICY .. .. mi � m. 6✓
The First Nation! E ank of Chicago
Cable address: NATIONAL CHICAGO
Telex number: 2-53801
FNBC: 1412-00300362
IMTERNATIONAL 'AIDE SERVICES GROUP j
Two First National Plaza/Chicago, Illinois SOS; 0
DATE: OCTOBER 28, 1980
WE ENGAGE WITH YOU THAT DRAFTS DRAWN UNDER AND IN COMFORMITY WITH THE
TERMS OF THIS CREDIT WILL BE DULY HONORED ON PRESENTATION IF PRESENTED
ON OR BEFORE THE EXPIRY DATE. THE ORIGINAL LETTER OF CREDIT MUST
ACCOMPANY THE DOCUMENTS REQUIRED UNDER THIS CREDIT.
THE CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR
DOCUMENTARY CREDITS (1974 REVISION), INTERNATIONAL CHAMBER OF
COMMERCE PUBLICATION 290.
PLEASE ADDRESS ALL CORRESPONDENCE REGARDING THIS LETTER OF CREDIT TO
THE ATTENTION OF OUR WBD LETTER OF CREDIT, INTERNATIONAL TRADE SERVICES,
MENTIONING OUR REFERENCE NUMBER AS IT APPEARS ABOVE.
VERY TRULY YOURS
THE FIRST NATIONAL BANK OF CHICAGO
i
AUTHORIZED'SIGNAT RE(S)
PAGE 2
ORIGINAL
SANITARY SEWER
AN INTEGiAL PART OF LETTER Uf CREDr 300362
9-12-80 -
E(HIBIT A
C.S.P.
$ 11.00
ENGIi7EER' S Est ,3ATE
1
Ea.
Conn. to Extg. Manhole
$500.00
$ .500.0'.
S.D.K. REGENT BUSINESS CENTER
9
Ea.
48" 0 Manhole
900.00
0;100.0'.
PHASE I
160
L.F.
Auger w/20" G.D.xl/4" wall
105
L.P.
PROJECT NO. 7054
R.C.Y. CL. III
15.00
WATERMAIN ;--.
160.00
160000,0",.
4.
240
Item
Quantity
Unit
Description
Unit Price
Total Co,,!.
L.F.
1.
1
Ea.
Conn, to Extg. 12"x10" Tee
$300.00
$ 300.G)
2.
1
Ea.
12"x12" Pressure Conn. w/
270
L.E.
Trench Backfill
13.00
3,510.0
12" G.V. 6 60" 91 Vault
2700.00
2,700.('
3.
230
L.P.
Auger w/20" O.D.xl/4" wall .
steel casing
100.00
23,000.0;
4.
1,855
L.P.
12" Class 52 D.I.W.M.iucl.
fittings
20.00
37,100.00
5.
7
Ea.
12" Gate Valve w/60" D Vault
1650.00
11,550.C!+',
6.
6
Ea.
Fire Hydrant w/Aux.V3lve
Cpte.
1000.00
6,000.:',
7.
94
L.P.
Trench Backfill
8.50
799.0`
-
TOTAL WATERMAIN
$81,449.(..'.
SANITARY SEWER
STOXM SEWER
1.
318
L.F.
10"
C.S.P.
$ 11.00
1.
1
Ea.
Conn. to Extg. Manhole
$500.00
$ .500.0'.
2.
9
Ea.
48" 0 Manhole
900.00
0;100.0'.
3.
160
L.F.
Auger w/20" G.D.xl/4" wall
105
L.P.
15"
R.C.Y. CL. III
15.00
steel casing
160.00
160000,0",.
4.
240
L.F.
6" A.B.S.' Pipe w/plugs
11.00
2,640.01
5.
560
L.F.
8" A.B.S. Pipe w/plugs
13.00
7,280.0'
6.
1,170
L.F.
10" A.B.S. Pipe w/plug
15.00
170550.0•
7.
270
L.E.
Trench Backfill
13.00
3,510.0
TOTAL SANITARY SEWER
$55,580.0!
STOXM SEWER
1.
318
L.F.
10"
C.S.P.
$ 11.00
$ 3,498.0
2.
180
L.F.
12"
R.C.P. CL. III
12.00
2,160.0('
3.
256
L.F.
12"
R.C.P. CL. IV
12.25
3,136.01:
4.
105
L.P.
15"
R.C.Y. CL. III
15.00
1,575.00
I
w�+ EXHIBIT A ENGINEER'S ESTIMATE (con't)
PHASE•
THIS PAGE FORMS AN CTNO I
6PTEREDITP30b3g� LETTER PROJECT tdo, 7054
STORM SEWER (con't)
Item Quantity Unit Description
5. 1,019 L.F. 15" R.C.P. CL. IV
6. 235 L.F. 18" R.C.P. CL. IV
7. 33 L.F. 24" R.C.P. CL. IV
8.
182
L.f.
27"
R.C.P. CL. IV
9.
323
L.F.
30"
R.C.P. CL. III
10.
335
L.F.
33"
R.C.P. CL. III
11.
3
Ea.
24"
m Inlet
12.
11
Ea.
48"
0 Inlet Manhole
13.
6
Ea.
48"
m Manhole
14.
2
Ea.
60"
Inlet Manhole
15.
4
Ea.
60"
Manhole
16.
1
Ea.
72"
4 Manhole w/11" 0
17.
1
Ea.
18.
• 1
Ea.
19.
1
Ea.
20.
Lump
Su.•n
21.
205.
L.F.
22.
115
L.F.
23.
2
Ea.
24.
1
Ea.
PAVEMENT
1. 6,054
2. 399
Unit Price Total Co:
$ 15.25
$15,539.'"
17.00
3,995.'
24.00
792.('
28.00
5t096. (I
31.00
10 013.t'.?
35.00
400,00
700.00
700.00
900.00
900.00
restrictor
1200.00
12" End Section
150.00
30" End Section w/Screen
500.00
33" End Section w/Screen
650.00
Rip Rap
250.00
Trench Backfill
8.00
72"x44" C.M.P. 12 Ga.
90.00
72"x44" C.M.P. End Section
500.00
Conn. to Extg. 7'xl" Culvert
500.00
TOTAL, STORM SEWER
S.Y. 1" Bit.Conc. Class I Surface
Course $ 1.70
S.Y. 2" Bit.Conc. Class I Surface
Course 3.40
11,725.(')
1,200.0
7,700.0;
4,200.0.
1,800.0'
3,600.0)
1,200.0
150.0'
500.0 )
650.0
250.0
1,G4J.U:
10,350.0'
1,000.04'
500.0';
$92,269.7::
$10,291. SG
1,356.60
!;+i ?._,ti ,'. f'AR;? Or C;RED(T 30036- 9-12-80
ENGINE.Eri' S ESTI:3ATE on' * )
PHASE I
PROJECT NO. 7054
PAVEMENT (con't)
Item
Quantity,
Unit
Description
Unit Price
Total Coss
3.
5,818
S.Y.
2" Bit.Conc. Class I Binder
Course
$ 3.25
$18,908.5('
4.
236
S.Y.
2�" Bit.Conc. Class I Binder
Course
4.00
944.0(:
5.
6,054
S.Y.
10" Pozzolanic Base Course
w/prime coat
8.50
51,459.0C
6.
399
S.Y.
8" B.A.M. Base Course w/prime
coat
12.00
4,788.0C
7.
1,019
S.Y.
10" P.C.C. Pavement w/pavement
fabric
20.00
20,380.0(
8.
666
S.Y.
4" Conc. Median
10.00
6,660.00
9.
791
L.F.
B-9.12 Curb & Gutter
10.00
7,910.00
10.
2,984
L.F.
B-6.12 Curb & Gutter
8.00
23,872.00
11.
1,614
S.Y.
Remove Extg. Conc. Median
8.00
120912.00
12.
791
L.F.
Remove Extg. B-9.12 curb &
gutter
8.00
61328.00
13.
14,391
S.F.
5" Conc. Sidewalk
1.80
25,903.80
14.
Lump Sum
Remove Extg. Steel Beam
Guard Rail
500.00
500.00
15.
Lump Sum
Construct New Steel Beam
Guard Rail
3000.00
31000.00
16.
Lump Sum
Remove Extg. Dirt Drive &
C.M.P. Culvert
500.00
500.00
17.
Lump Sum
Regrade & Restore Extg.
Ditch(State R.O.W.)
1000.00
1,000.00
18.
Lump Sum
Signing & Pavement Marking
2000.00
2,000.00
19.
5
Ea.
Street Light Cpte.
2000.00
10,000.00
20.
1
Ea.
Relocate Extg. Power Pole
2000.00
21000.00
TOTAL PAVEMENT
$210,713.70
EXHIBIT A
THIS PAGE FORMS AN INTEGRAL PART OF LETTER OF CREDIT 300362
Item Quantity, Unit Description
1. 14,600 C.Y. Clay Excavation(streets)
2. 530 C.Y. Clay Excavation(detention
area)
3. Lump Sum Seeding(detention area)
TOTAL EARTHWORK
SUMMARY
WATERMF.IN
SANITARY SEWER
STORM SEWER
PAVEMENT
EARTHWORK
ESTIMATED TOTAL COST
$81,449.00
55,580.00
92,269.75
210,713.70
23.695.00
$463,707.45
Unit Price Total Cos':
$ 1.50 $211900.0)
1.50
1000.00
795.0'1
11000.0 '
$23,695.0-,