HomeMy WebLinkAboutRESOLUTION - 57-75 - 8/5/1975 - PERFORMANCE BOND/FRISBIE SUB RESOLUTION NO. 57-75
A RESOLUTION ACCEPTING AND PLACING ON FILE A PERFORMANCE BOND FROM THE
CONTINENTAL INSURANCE COMPANY (BOND NO. BMD 203-07-12) IN THE AMOUNT OF
$123,000.00 FROM MC LENNAN GENERAL CONSTRUCTION COMPANY AND GUARANTEEING
THE CONSTRUCTION OF ALL ITEMS IN FRISBIE SUBDIVISION IN ACCORDANCE WITH
ENGINEERING DRAWINGS
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 and placing on file of Performance Bond No.
BND 203 07 12 in the amount of $123,000.00 from the Continental'
Insurance Company to guarantee the construction of all items in
Frisbie Subdivision according to Engineering Drawings as prepared
by Elk Grove Engineering Company, 860 Lively Boulevard, Elk Grove
Village, Illinois, dated January 2, 1975, final revision dated
May 8, 1975, on project No, 6587.
Section 2. That this resolution shall be in full force and effect from
and after its passage and approval according to law.
PASSED this 5th day of August 1975,
APPROVED this 5th day of August / 1975.
Village eSnt
ATTEST:
Villa' Clerk
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a :jo s t est ❑ ,gay, Park 21 . q, Illinoi , as 2rincinal, and THE
,. lu T , r. AAC ..TANY, a co. pnrndoa o ranivra ; , existing under
o I rj Phs Mt-- K -low York, v3d authorized to transact the, a ,. ._less
(> o in n1l Ktn7en, is y, art held ayed firmly bound unto tie
rIr MM VILLAGE, as Qhliyan, io the - 1 sun o - 1 ?I A 'M' ''?
.". V. 171 f )j!A Q 1.1) no/100-----------($123,030.00)- - tIMS,
o- LAc , Zt at ca we horaby Kid our ,zlvps, our hairs, administrators,
- , jac—n ;ors as& assign,, ,.iaLly .and savcrally, _ ire. ly by t. _r.e
..' Msiaz5.
scaled and dated this 30th day of April, 1-975.
m
!MMM, 0Principal has prencMM to the Obligee a Plat of Subdivision, to
W 'k7owu is Frisbie Suboivisioq, located no that p.:rt of the West half of the
I .:or .'cs _ i.ta_ ter oE Section 75, Toenahip AL North, Range 11 Last of the third
Cl'-ii is ! � 'frrdinn, 'n Cook County, 11lia iad has requested that the Obligee
Apr -. d Plat o F Lu^ Ii :" s_o i mei " n ,ins F i n.- Drawings as prepared by El':
ove Engineering Company, dated 1/2/75 with r__aal revision dated 5/8/75 on
ornject- ;'rll and
WFAHAS, the Obligee has required that the Principal shall, prior to the
acceptance and approval of said Plat of Subdivision and Engineering Drawings,
furnished bund in the aforementioned sum to insure and guarantee that said I't11i
Principal shall complete construction of all items including installation of
paving, curbs, sidewalk, sanitary sewer, storm sewer, water mains and street
lighting as required by the Obligee in conjunction with the issuance of a
permit for the said Frisbie Subdivision and in accordance with its aforemen-
domed Engineering Drawings. �)
IJS�IJ
00' , TEIEMPORE, the condition of this obligation is such that if the Principal
shall install add complete the aforementioned items within the period of time
allowed and shall save the Obligee harmless from any loss, cost or damage by
reason of its failure to complete said items, then this obligation shall be
void; otherwise to remain in full force and effect.
7 AIC LENNAN GENERAL CONSTRUCTION CIO.
THE ICONTINENTAL INSCRANCE C'OMANY k
ROBERT J. ATM0 NEY
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