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RESOLUTION NO. 16-86 <br />A RESOLUTION RELEASING ONE MAINTENANCE BOND AND TWO PER- <br />FORMANCE BONDS FROM SAFECO INSURANCE COMPANY GUARANTEEING <br />WORK TO BE PERFORMED BY CENTEX HOMES IN SECTION 23A AND <br />SECTION 24 <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of <br />Trustees of the Village of Elk Grove Village, Counties of Cook and <br />DuPage, State of Illinois: <br />Section 1. That the President and Board of Trustees do hereby <br />authorize the release of Maintenance Bond No. 4387001 in the amount of <br />$15,000 previously accepted by Resolution No. 54-82 (within Franklin <br />Lane and Union Circle); and Performance Bonds No. 2776415 in the amount <br />of $408,000 previously accepted by Resolution No. 56-82; and No. 2985315 <br />in the amount of $182,238 previously accepted by Resolution No. 42-80, <br />from Safeco Insurance Company guaranteeing work performed by Centex <br />Homes in Section 23A and Section 24. <br />Section 2. That this Resolution shall be in full force and effect <br />from and after its passage and approval according to law. <br />PASSED this 25th day of February 1986. <br />APPROVED this 25th day of February 1986. <br />Charles J. Zettek <br />Village President <br />ATTEST: <br />Patricia S. Smith by Ilafern R. Snick <br />Village Clerk Deputy Clerk <br />