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RESOLUTION NO. 45-86 <br />A RESOLUTION ACCEPTING AN IRREVOCABLE STANDBY LETTER OF CREDIT <br />NO. 32685 AND AMENDMENT NO. 1 IN THE AMOUNT OF $4,950.00 FROM <br />THE BANK OF ELK GROVE TO GUARANTEE INSTALLATION OF PUBLIC <br />IMPROVEMENTS FOR STRAWBERRY HILL PLAZA EXPIRING JULY 15, 1987 <br />NOW, THEREFORE, BE IT RESOLVED by the President and Board of Trustees <br />of the Village of Elk Grove Village, Counties of Cook and DuPage, State of <br />Illinois: <br />Section 1. That the President and Board of Trustees do hereby authorize <br />the acceptance of an Irrevocable Standby Letter of Credit No. 3268S and Amend- <br />ment No. 1 from the Bank of Elk Grove in the amount of $4,950.00 to guarantee <br />installation of public improvements in accordance with approved plans and <br />specifications with revisions dated April 18, 1986 prepared by Spaceco, <br />6215 W. Touhy Avenue, Chicago, Illinois 60648 and agreements including any <br />amendments thereof on property legally described in Exhibit "A". Said Letter <br />of Credit and Amendment No. 1 expiring July 15, 1987. <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 10th day of June 1986. <br />APPROVED this 10th day of June 1986. <br />, <br />Charles J. Zettek <br />Village President <br />ATTEST: <br />Patricia S. Smith <br />Village Clerk <br />