The URL can be used to link to this page

Home My WebLink AboutRESOLUTION - 24-74 - 3/26/1974 - LOC/RELEASE ACCEPT/JARVIS AVERESOLUTION NO. 24-74 A RESOLUTION RELEASING A LETTER OF CREDIT FROM CENTEX CORPORATION COVERING THIRD LIFT REQUIREMENTS FOR LOUIS AVENUE FROM LIVELY BOULEVARD EAST TO STATE ROUTE 83 AND JARVIS AVENUE FROM LIVELY BOULEVARD TO STATE ROUTE 83 AND ACCEPT- ING A NEW LETTER OF CREDIT FROM CENTEX CORPORATION COVERING THIRD LIFT REQUIRE- MENTS FOR JARVIS AVENUE FROM LIVELY BOULEVARD TO STATE ROUTE 83 WHEREAS, during the summer of 1973, a third lift of pavement was placed on Louis Avenue from Lively Boulevard to State Route 83; and WHEREAS, property fronting on Louis Avenue has been seventy five (75%) per cent developed, thus satisfying the requirements of the Subdivision Control Ordinance. 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 release of Letter of Credit No. 64452, in the amount of $20,000.00 from Continental Illinois National Bank and Trust Company, guaranteeing the construction of a third lift of pavement for Louis Avenue from Lively Boulevard east to State Route 83 and Jarvis Avenue from Lively Boulevard east to State Route 83 by Centex Corporation. Section 2. That the President and Board of Trustees do hereby authorize acceptance of Letter of Credit No. 1005853 in the amount of $13,000.00 from Continental Illinois National Bank and Trust Company guaranteeing the construction of a third lift of pave- ment for Jarvis Avenue from Lively Boulevard to State Route 83 by Centex Corporation. Section 3. That this resolution shall be in full force and effect from and after its passage and approval according to law. PASSED this 26th day of March 1974. APPROVED this 26th day of March , 1974. Charles J. 7ettek Village President ATTEST: Eleanor G. Turner Village Clerk IN i tHNA i .. .�...... _... -31 S0.1T1i Ln $11Le snnecl _,-.r..;o..Lsr,c ;'11.1.1 March 8, 1974 a t 'D C; kit v C.1 D1T Village of Elk Grove Village Elk Grove Village, Illinois Tho �boee rr, ;1(ioned c,eda is a,r,_rtded as f.11lom. s. NI Vand�t; extenjed to ----- Nnount xxxxxxxN decreased by $7,000.00 (Seven Thousand and 00/100 United States Dollars) leaving a total amount of cl $13,000.00 which is available against required draft, accompanied by: 1005853 Centex Corporation 4600 Republic National Bank Tower Dallas, Texas 75201 (ilrs fi ti b? 1 -15 pzrt of trt -,Loer c-rdit and Mw oa a[ 1EJ th tD. Amoint of None Near+ Exp,ry None - - Shipping csce oxtegdod to " ^" X11 Your officially signed statement indicating that Centex Corporation has not performed under its obligation the installation of a third lift of pavement for Jarvis Avenue from Lively Boulevard to State Route 83, instead of as previously stated. A,i o:`tar terms irid cort�';no:1s rip; ein uncharC,ed.pm L-, a 2. Y .rs t -t- n idly, anv hai �..._� 3 S __i ('I11CAG0.ILL. U.S.A TO Village of Elk Grove Village Elk Grove Village Illinois October 21, 1970 -- WE HEREBY AUTHORIZE YOU TO DRAW ON Continental Illinois Rational Bank and Trust Company of Chicago, Chicago, Illinois DRAFTS AT Sight -------------------------------FOR ANY SUM OR SUMS NOT EXCEEDING A TOTAL OF Twenty Thousand and 00100 Dollars ----------------------------------- FOR ACCOUNT OF Centex Corporation, 4600 Republic National Bank Tower, Dallas* DRAFTS MUST BE ACCOMPANIED BY invoices approved by Bank of Elk Grove Village_ relating to installation of a third lift of pavement for Louis Avenue from Lively Boulevard east to State Route 83 and Jarvis Avenue from Lively Boulevard east to State Route 83. INSURANCE _ ONE ORIGINAL BILL OF LADING WITH COMMERCIAL INVOICE - MUST BE SENT BY THE FIRST NEGOTIATING BANK BY AIR MAIL DIRECT TO AND A CERTIFICATE BY THE FIRST NEGOTIATING BANK STATING THAT THIS HAS BEEN DONE MUST ACCOMPANY EACH DRAFT. ALL DRAFTS HEREUNDER MUST BE MARKED: 'DRAWN UNDER CONTINENTAL ILLINOIS NATIONAL BANK AND TRUST COMPANY OF CHICAGO LETTER OF CREDIT NO. 64452 DATED October 21, 1970 EXCEPT AS OTHERWISE EXPRESSLY STATED. THIS CREDIT IS SUBJECT TO THE "UNIFORM CUSTOMS AND PRACTICE FOR COMMERCIAL DOCUMENTARY CREDITS FIXED BY THE INTERNATIONAL CHAMBER OF COMMERCE." THE AMOUNT OF EACH DRAFT DRAWN UNDER THIS CREDIT MUST BE ENDORSED HEREON AND THE PRESENTATION OF EACH DRAFT. IF NEGOTIATED. SHALL BE A WARRANTY BY THE NEGOTIATING BANK THAT SUCH ENDORSEMENT HAS BEEN MADE AND THAT DOCUMENTS HAVE BEEN FORWARDED AS HEREIN REQUIRED: IF THE DRAFT IS NOT NEGOTI. ATED THIS CREDIT MUST ACCOMPANY THE DRAFT. , WE HEREBY ENGAGE WITH THE DRAWERS. ENDORSERS AND SONAFIDE HOLDERS OF DRAFTS DRAWN UNDER AND IN COM- PLIANCE WITH THE TERMS OF THIS CREDIT THAT THE SAME SHALL BE DULY HONORED ON DUE PRESENTATION AND 9ELIVERY OF DOCUMENTS AS SPECIFIED IF NEGOTIATED OR PRESENTED ON OR BEFORE October 21, 1975 *Texas Released by Resolution No,..24-]4 \ `' Village Board meeting of ._3736174 - _ roA New letter of Credit No. 1005853 accepted to "O°'"' rnvPr .la rvlc A\,P III IP nnly- Amt. $13,000.0 `v'or+C<s"�cn MrN.'� SM1V(� �M1M � �{/¢. 1 N'SrtYM1`•M1MN � .� -r'N M '...el-,ae.,.'< �R.M11 ._1,-t-'4�.e w.�.—1 •1ddw�e dd_'. .�et edr�+eew.+.+e.e:.xe,a...n. ...aa..tA'v-e 'q C1(�V C, Y IRREVOCABLE, COJ1ZIE1?CIAL LETTER OF CREDIT AMOUNT U.S. $20,000.00 - IVO. 64452 ('I11CAG0.ILL. U.S.A TO Village of Elk Grove Village Elk Grove Village Illinois October 21, 1970 -- WE HEREBY AUTHORIZE YOU TO DRAW ON Continental Illinois Rational Bank and Trust Company of Chicago, Chicago, Illinois DRAFTS AT Sight -------------------------------FOR ANY SUM OR SUMS NOT EXCEEDING A TOTAL OF Twenty Thousand and 00100 Dollars ----------------------------------- FOR ACCOUNT OF Centex Corporation, 4600 Republic National Bank Tower, Dallas* DRAFTS MUST BE ACCOMPANIED BY invoices approved by Bank of Elk Grove Village_ relating to installation of a third lift of pavement for Louis Avenue from Lively Boulevard east to State Route 83 and Jarvis Avenue from Lively Boulevard east to State Route 83. INSURANCE _ ONE ORIGINAL BILL OF LADING WITH COMMERCIAL INVOICE - MUST BE SENT BY THE FIRST NEGOTIATING BANK BY AIR MAIL DIRECT TO AND A CERTIFICATE BY THE FIRST NEGOTIATING BANK STATING THAT THIS HAS BEEN DONE MUST ACCOMPANY EACH DRAFT. ALL DRAFTS HEREUNDER MUST BE MARKED: 'DRAWN UNDER CONTINENTAL ILLINOIS NATIONAL BANK AND TRUST COMPANY OF CHICAGO LETTER OF CREDIT NO. 64452 DATED October 21, 1970 EXCEPT AS OTHERWISE EXPRESSLY STATED. THIS CREDIT IS SUBJECT TO THE "UNIFORM CUSTOMS AND PRACTICE FOR COMMERCIAL DOCUMENTARY CREDITS FIXED BY THE INTERNATIONAL CHAMBER OF COMMERCE." THE AMOUNT OF EACH DRAFT DRAWN UNDER THIS CREDIT MUST BE ENDORSED HEREON AND THE PRESENTATION OF EACH DRAFT. IF NEGOTIATED. SHALL BE A WARRANTY BY THE NEGOTIATING BANK THAT SUCH ENDORSEMENT HAS BEEN MADE AND THAT DOCUMENTS HAVE BEEN FORWARDED AS HEREIN REQUIRED: IF THE DRAFT IS NOT NEGOTI. ATED THIS CREDIT MUST ACCOMPANY THE DRAFT. , WE HEREBY ENGAGE WITH THE DRAWERS. ENDORSERS AND SONAFIDE HOLDERS OF DRAFTS DRAWN UNDER AND IN COM- PLIANCE WITH THE TERMS OF THIS CREDIT THAT THE SAME SHALL BE DULY HONORED ON DUE PRESENTATION AND 9ELIVERY OF DOCUMENTS AS SPECIFIED IF NEGOTIATED OR PRESENTED ON OR BEFORE October 21, 1975 *Texas Released by Resolution No,..24-]4 \ `' Village Board meeting of ._3736174 - _ roA New letter of Credit No. 1005853 accepted to "O°'"' rnvPr .la rvlc A\,P III IP nnly- Amt. $13,000.0 `v'or+C<s"�cn