HomeMy WebLinkAboutRESOLUTION - 77-73 - 7/3/1973 - PERFORMANCE BOND/PERRIE GROVE SUB RESOLUTION NO. _ 77-73
A RESOLUTION AUTHORIZING ACCEPTANCE OF PERFORMANCE BOND NO. 12-0120-879-73
IN THE AMOUNT OF $245,079. 15, FROM THE BIANCO CONSTRUCTION COMPANY FOR
THE PERRIE GROVE SUBDIVISION
i
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
acceptance of a Five Year Performance Bond No. 12-0120-879-72 in the amount of
$245,079. 15 from the United States Fidelity and Guaranty Company to guarantee
the construction of street improvements, sidewalks, erection of street name
signs, trees, sanitary sewers , water mains , storm sewers and light poles by
the Bianco Construction Company in a proposed subdivision known as Perrie
Grove Apartments, located on the north side of Landmeier Road, in Elk Grove
Village, Illinois, which improvements are fully described on Plans and Speci-
fications prepared by R. B Neukranz & Associates, Civil Sections, and dated
April 12, 1972.
Section 2. That this resolution shall be in full force and effect from
and after its passage and approval according to law.
PASSED this 3rd day of July 1973 .
APPROVED this 3rd day of July /f 1973.
Village Pre dent
ATTEST:
Viliage Clerh
. UNITED STATES FEDEEF1 QUA;ANTY COMPANY
(A Stock Company)
LY :R::_. T3, That we - _,IC: ;„C ,C76 D1 _ , _ 'r .1 Cor-
. . ,
poraticn of 100 Inaun trig] Drive, Fense nv`_lle, Illinois, as Princiral, and
UN 1_ :? .__ _ ', FID-1S in ,__'Y Cl' ;:, _. ,loryl . fi Mracrntion, having its
.:i princapil office and place of b, ciness in t_^ city of -.l_......_ , 7,rylini, as
Surety, Fri told ^nn firmly hou unto _ C_' - -J _ ":GL
AND Ca_,: . '113, I. ._1 M, in the nun of _ =. -_ 1! 7075 ND ST77TY
WE 7D 17/= (:245,09.10) D . WW, for 'i:1. t neli,anl truly to be
made, ve b..n i our elven, our ho s, execute-s, nQKis:r%tTrs, successors ind
assigns, jointly --nd Lever -lly, "_rmly by these _ e3ents.
Sealed with our seals and dated this 25th c_:y of June, 1973
Vlere.as, the -above bounden LI , 'CC 3027=71( 7 _ - . his or is ;:bout to be
granted a permit for work .and construction consisti.r of street imrrovements, side-
walks, erection of str ,et .r gns, trees, sanitary se=s,_rs, ., :ter ._-.ins, storm
sewers and l i-ht poles in a proposed Subdivision known is 'errie Grove ::o-_rtments
locited on the; North side of Landmei_er Road, ;lis Grove Vilage, Illinois, and more
specifically t (7) ge "Wer" . .ich cv".: _-its _ re
ascribed on the =. :�ecile': t�•�o _ _
fully descri ed on certyin : 1 __s .and 3-;ecific_.tion3 r_ _ _ � 3.L. . .,_ ranz &
Associates, Civil Sections, and .. :ted April 12, 1772.
1021, THE CC. XVIM Cr WE WOVE C'c'_L ._'C` T_,i SUCH, that if the
above bounden Principal sh ll,wit. in five (5) years from c. rte hereof, well and
truly and in rood, sufficient and workmanlike . _ _ser _ fort, or crus_ to be
formed the terms of said pernit, PQ the inste:ll=ior. of„ ':ore _ ro•rnr_=F which
are fully described in the Flns .and _ cificOions referred to�above, n:d e-vch and
every of the covenants, p om.i-.'._ , arrec._F.nts :n! oraysion3 .___rein stipulated, and
in e ch and every respoct comply ::lath the con it'_crs __,__ e _. contained, then this
obligation to be void, otherwise to remain in fall force %nd effect.
The ^_ . incin,l shall be made "a
party to any suit or -et_on, nd be served
. ,with
process commencing the s me if the Trinciral can with _ eanon.'_le diligencebe found.
No judrme•Iz shall be rendered against the Auret, in excess of the pen lty of this
instru:)ent.
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