1984-015 AN ORDINANCE APPROVING ANNEXATION AGREEMENT
(CORPORATE GROVE CORRIDOR - NORTH AND SOUTH)
WHEREAS, the Village of Buffalo Grove is a Home Rule Unit by
virtue of the Illinois Constitution of 1970 ; and,
WHEREAS, there has heretofore been submitted to the
Corporate Authorities of the Village of Buffalo Grove a petition
to annex -the property legally described in Exhibit A hereto; and ,
WHEREAS , there has been submitted to the Corporate
Authorities of the Village of Buffalo Grove an Annexation
Agreement; and,
WHEREAS, proper and due notices of public hearings on said
Annexation Agreement and Zoning have been given and public
hearings were held; and ,
WHEREAS, it is determined to be in the best interests of the
Village of Buffalo Grove to approve said Annexation Agreement:
NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF
TRUSTEES OF THE VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES,
ILLINOIS:
Section 1. The Annexation Agreement , a copy of which is
attached hereto and made a part hereof as Exhibit "A" is
approved.
Section 2. The President and Clerk of the Village are
hereby authorized to execute said Agreement on behalf of the
Village of Buffalo Grove.
Section 3 . This Ordinance shall be in full force and
effect from and after its passage and approval . This Ordinance
shall not be codified.
AYES:
. Glover _m _ -..• N
� teen,
5�- Marienthal,- Stone, O'Reilly,y, -arts
NAYES: 0 - None
1 Reid
ABSENT: /1..9 8 g
PASSED: February6 O
APPROVED- February 6 ► 19 8 4 w
APPROVFUT— -
_ ...._Vi 11age President..or��
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ANNEXATION AGREEMENT
This agreement (hereinafter referred to as the
"Agreement") made and entered into this 6th
day of
Februar 1984 , by and between the VILLAGE OF
BUFFALO GROVE (hereinafter referred to as "Village" ) by and
through the President and Board of Trustees of the Village
(hereinafter collectively referred to as the "Corporate
Authorities") and FIRST STATE BANK OF PARK RIDGE, not
personally but as Trustee under a certain trust agreement
dated December 11, 1981 and known as Trust No. 1269
(hereinafter referred to as "Owner") .
W I T N E S S E T H:
WHEREAS, the Village of Buffalo Grove is a Home
Rule unit by virtue of the provisions of the Constitution
of the State of Illinois of 1970; and
WHEREAS, Owner is the owner of a certain tract of
property comprising approximately 37. 538 acres depicted on
a Plat of Annexation attached hereto as Exhibit "B" and
specifically incorporated by reference herein which
property is described thereon as the "Property" , which real
estate is contiguous to the corporate limits of the
Village; and
WHEREAS, Owner desires and proposes to develop
the Property pursuant to the provisions and regulations
applicable to the I, B-1 and R-9 PUD District of the
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Village Zoning Ordinance and subject to all other exhibits
attached hereto or incorporated by reference herein.
WHEREAS, pursuant to the provisions of Section
11-15. 1-1 et, seq. , of the Illinois Municipal Code (Chapter
24, Illinois Revised Statutes 1981) and the Village ' s home
ome
rule powers a proposed Annexation Agreement, in substance
and in form substantially the same as this Agreement, was
submitted to the Corporate Authorities and a public hearing
was held thereon pursuant to notice as provided by Statute;
and
WHEREAS, pursuant to due notice and advertisement
in the manner provided by law, the Plan Commission of the
Village has held such public hearing prescribed by law and
made their recommendations with respect to the requested
zoning classification of I, B-1 and R-9 PUD District; and
WHEREAS, the President and Board of Trustees
after due and careful consideration have concluded that the
annexation of the Property to the Village and its zoning
and development on the terms and conditions herein set
forth would further enable the Village to control the
development of the area and would serve the best interests
of the Village.
NOW, THEREFORE, in consideration of the premises ,
mutual covenants and agreements herein set forth, the
parties hereto agree as follows:
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1• Applicable Law. This Agreement is made
pursuant to and in accordance with the provisions of
Section 11-15. 1-1 et. seq. , of the Illinois Municipal Code
(Chapter 24, Illinois Revised Statutes 1981) and the
Village' s Home Rule powers. The preceding whereas clauses
are hereby made a part of this Agreement.
2. A reement: Com liance and Validit The
Owner has filed with the Village Clerk of the Vil
lage a
proper petition (Exhibit "A" hereto) pursuant to and in
accordance with provisions of Section 7-1-8 of the Illinois
Municipal Code (Chapter 24 , Illinois Revised Statutes
1981) , conditioned on the execution of this Agreement and
the compliance with the terms and provisions contained
herein, to annex the Property to the Village. It is
understood and agreed that this Agreement in its entirety,
together with the aforesaid petition for annexation, shall
be null, void and of no force and effect unless the
Property is validly annexed to the Village and is validly
zoned and classified in the I, B-1 , and R-9 PUD District,
all as contemplated in this Agreement.
3. Enactment of Annexation Ordinance.
The
Corporate Authorities, within twenty-one (21) days of the
execution of this Agreement by the Village , will enact a
valid and binding ordinance (hereinafter referred to as the
"Annexation Ordinance") annexing the Property to the
Village. Said Annexation Ordinance shall be recorded with
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the Lake County Recorder' s Office along with the Plat of
Annexation (attached hereto as Exhibit "B"
) . Recordation
shall take place no more than thirty (30) days after
enactment of Annexation Ordinance.
4. Enactment of Zoning Ordinance. Within
twenty-one (21) days after the passage of the Annexation
Ordinance , the Corporate Authorities shall adopt a proper,
valid and binding ordinance , zoning the Property in the I,
B-1 and R-9 PUD District as depicted on the Zoning Plat
attached hereto as Exhibit "D" and specifically
incorporated by reference herein, subject to the
restrictions further contained herein and all applicable
ordinances of the Village of Buffalo Grove as amended from
time to time.
5. Approval of Plats. The Corporate Authorities
agree to approve a Concept Plan in a form attached hereto
as Exhibit "E" and specifically incorporated by reference
herein and in addition agree to approve Preliminary and
Final Plans of Development or plats or phases of the
development of property upon submission by the Owner of
complete and proper materials as required for the issuance
of appropriate building and other permits based on final
versions of the plans and drawings of the development of
property as submitted by the Owner provided that the plat
or plats shall:
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(a) conform to the Zoning Plat (EXHIBIT D)
and
(b) conform to the terms of this Agreement
and all applicable Village Ordinances
as amended from time to time, provided
however, that any such changes to any
such ordinances shall not preclude
development of the Property in
substantial conformance with the
Concept Plan without consent of owners;
and in no event shall any ordinances
now or hereafter in force supercede the
provisions of the Concept Plan without
the consent of Owner; and
(c) conform to the Development Improvement
Agreement (EXHIBIT C) and Development
Ordinance as amended from time to time.
It is understood and agreed that the final
subdivision plat or plats that will hereinafter be
submitted by the Owner shall conform to the phases , if any,
of the development as will be shown on the Preliminary
Development Plan.
6. Compliance with A. . licable Ordinances. The
Owner agrees to comply with all ordinances of the Village
of Buffalo Grove as amended from time to time in the
development of the property, provided that all new
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ordinances, amendments , rules and regulations relating to
zoning, building and subdivision of land adopted after the
date of this Agreement shall not be arbitrarily or
discriminatorily applied to the property but shall be
equally applicable to all property similarly zoned and
situated. Owner, in the development of the property shall
comply with the standards set forth in the Village of
Buffalo Grove Development Ordinance as amended from time to
time. Notwithstanding anything to the contrary herein
contained during the term of this Agreement, it is
understood that the zoning of the Property shall not be
reclassified without Owner' s consent, except as provided in
paragraph 30 hereof, nor shall Owner be prohibited from
developing the Property in accordance with the Concept
Plan.
7. Amendment of Plan. If the Owner desires to
make changes in either the Concept Plan or Preliminary
Development Plan, the parties agree that such changes in
said Plans will require , if the Village so determines, the
submission of amended plats or plans, together with proper
supporting documentation, to the Plan Commission and/or the
Corporate Authorities to consider such changes to this
Agreement. The Corporate Authorities may, at their sole
discretion, require additional public hearings and may
review the commitments of record contained in this
Agreement, including, but not limited to fees, prior to
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final consideration of any change in said Plans. The
Village Manager is hereby authorized to approve such minor
changes as he deems appropriate , provided that no such
change (a) involves a reduction of the area set aside for
common open space; nor (b) increases by more than two
percent (2%) the floor area proposed for nonresidential
use; nor (c) increases by more than two percent (2%) the
total ground area covered by buildings.
8. Buildin Permit Fees. The building permit
fees may be increased from time to time so long as said
permit fees are applied consistently to all other
developments in the Village to the extent possible. In the
event a conflict arises between the Owner and the Village
on any engineering and technical matters subject to this
Agreement, the Village reserves the right to pass along any
and all additional expenses incurred by the use of
consultants in the review and inspection of the development
from time to time. Owner shall pay any non-discriminatory
new or additional fees hereinafter charged by the Village
to Owner or the Property.
9. Water Provision. The Owner shall be
permitted and agrees to tap on to the Village water system
at points recommended by the Village Engineer. The Owner
further agrees to pay to the Village such fees in
accordance with the applicable Village Ordinances at the
time of the issuance of the water and sewer permits . The
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Owner agrees to accept any increase in water rates and tap
on fees provided such rates and fees apply consistently to
all other similar users in the Village to the extent
Possible. Following such tap on, the Village agrees to
provide to the best of its ability and in a
non-discriminatory manner water service to all users on the
Property in accordance with the Preliminary Development
Plan. Watermains serving the Property P y and those approved
as part of the development shall be installed by the Owner
and, except for service connections to the buildings shall,
upon installation and acceptance by the Village through
formal acceptance action by the Corporate Authorities , be
dedicated to the Village and become a part of the Village
water system maintained by the Village. It is understood
that the property located immediately to the east of the
Property, "The Corporate Grove Property" and/or other
properties to the south are in the process of providing
water lines to the property line of the Property at Busch
Road and along Weiland Road south of Busch Road which water
lines shall be sufficient to serve the Property and to
which Owner may connect without any recapture cost for
extending said water lines to the Property, provided
however, that the Village shall not be responsible for
providing said water lines to the Property in the event
said water lines are not installed in connection with the
development of the Corporate Grove Property. Owner shall
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not be responsible for constructing any watermains along
Weiland Road south of Busch Road.
10. Storm and Sanitary Sewer Provisions.
A. The Corporate Authorities agree to
cooperate with the Owner and to use their best efforts to
aid Owner in obtaining such permits from governmental
agencies having jurisdiction as may be necessary to
authorize connection from the proposed development to the
Lake County Public Works Department for the collection of
sewage. The Owner shall construct on-site sanitary sewers
as may be necessary to service the Property and shall
construct off-site sanitary sewers as may be necessary to
service that portion of the Property falling generally west
of the Aptakisic Creek. It is understood that The
Corporate Grove Property is in the process of providing
sanitary sewers to the east property line of the Property
which sanitary sewer shall be sufficient to service that
portion of the Property falling generally east of the creek
located thereon and to which Owner may connect without any
recapture cost for extending said sanitary sewers to said
property line. The Village agrees that the Property shall
be included in the sewer service area map with respect to
The Corporate Grove Property, and a population equivalent
for the Property shall also be included in the permit for
The Corporate Grove Property. Upon in and
acceptance by the Village through formal acceptance action
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by the Corporate Authorities , the Corporate Authorities
agree to operate and maintain such systems, except for
sanitary sewer service connections. The Owner agrees to
accept any increase in sewer rates and tap on fees,
provided that such fees and rates are applied consistently
to all similar users in the Village.
B. The Owner shall also construct on the
property in question any storm sewers which may be
necessary to service the Property. Upon installation and
acceptance by the Village through formal acceptance action
by the Corporate Authorities, the Corporate Authorities
agree to operate and maintain that portion of the storm
sewer system which drains the public rights-of-way, or
multiple properties, and the Owner agrees to operate and
maintain that portion of the storm sewer system located on
the subject property and not dedicated, and shall record a
covenant to that effect within thirty (30) days of the
recording of the Plat of Subdivision.
11. Drainage Provisions. The Owner shall fully
comply with any reasonable request of the Village Engineer
related to the placement of buildings on lots, to preserve
drainage standards. The Owner shall install any storm
sewers and/or inlets which are required to eliminate
standing water or conditions of excess sogginess which may,
in the reasonable opinion of the Village Engineer, be
detrimental to the growth and maintenance of lawn grasses.
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The Village agrees to allow improvements , including
but not limited to parking lots, retention areas ,
utilities, etc. , but not including buildings, within one
hundred (100) feet of the center line of the creek located
on the Property provided however it is understood that in
no event shall any construction, reconstruction, regrading,
or building take place within the designated one hundred
(100) year floodway as established by the Village ' s flood
studies, except for utilities , foot bridges, and walkways.
It is further understood that compliance with the rules and
reguations of the National Flood Insurance Program shall be
met.
12. Owner Reca ture of utilitv Costs.
It is
further understood and agreed that in the event a portion
of the sanitary sewer, storm sewer, and/or watermain to be
constructed and installed by the Owner to serve the
proposed development (hereinafter referred to as "Owner' s
Improvements") may be required by the Village to be so
located and/or oversized as to benefit vacant neighboring
properties not owned by the Owner, thus making such utility
service available thereto, the Corporate Authorities agree
to adopt an ordinance and take such other action as may be
necessary to permit the Owner to recapture from such vacant
neighboring property owners as may be benefitted by the
Owner' s Improvements , that portion of the actual costs of
oversizing the construction and installation of Owner' s
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Improvements, in such proportionate amounts from such
neighboring property owners as may be so benefitted as
determined by the Village and Owner. The Village and Owner
agree to use their best efforts to cooperate to achieve the
most practical and feasible route to the off-site utility
connection points. The Village agrees to cooperate with
the Owner in effectuating recapture from future developers
as appropriate and will not issue building permits until
such sums are paid.
The Village shall be entitled to a five percent
(5%) fee from any amounts hereby recaptured as and for its
collection efforts.
13. Street and Parking Area Provisions. The
Owner agrees that all streets , parking and other areas are
to be constructed in accordance with Village standards as
set forth in the Development Ordinance as amended from time
to time except as set forth in paragraph 5.
14. Security for Public and Private Site
Im rovements. Securityfor
public and private site
improvements shall be provided in accordance with the
Development Ordinance and the Development Improvement
Agreement (Exhibit "C") , as amended from time to time. Any
letter of credit issued for such improvements shall be
drawn on a financial institution of net worth reasonably
satisfactory to the Village Attorney. The issuer may have
an equitable or lending interest in the Property provided
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that the letter of credit, either by its own terms or by
separate written assurances of the issuer, shall be honored
irrespective of that interest. The Village shall have the
right to draw up to the full amount of the letter of credit
in order to complete, and have formal acceptance of, all
improvements secured by the letter of credit. If the Owner
fails to complete the work required, the amount of the
letter of credit shall not be reduced by expenditures made
by the Owner until such improvements have been formally
accepted by the Village.
15. Exhibits. The following Exhibits , some of
which were presented in testimony given by the Owner or the
witnesses during the hearing held before the Plan
Commission and the Corporate Authorities prior to the
execution of this Agreement , are hereby incorporated by
reference herein, made a part hereof and designated as
shown below. This Agreement , upon execution by the
parties, together with copies of all Exhibits , shall be
kept on file with the Village Clerk and be available for
inspection to the parties hereto.
EXHIBIT A Petition for Annexation of Property
EXHIBIT B Plat of Annexation
EXHIBIT C Development Improvement Agreement
EXHIBIT D Zoning Plat
EXHIBIT E Concept Plan
16 . Buildin , Landsca in . and Aesthetics Plans.
Owner will submit building and landscaping P � g plans (which
landscaping plans shall conform to the requirements of
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Village Ordinances) for approval by the Appearance
Commission and the Corporate Authorities before commencing
construction of buildings. Lighting and signage shall be
complimentary to surrounding areas. Phases not under
construction or completed shall be maintained in a neat and
orderly fashion as reasonably determined by the Village
Manager.
17. Declaration of Condominium. In the event
that any portion of the property shall be developed under
the Illinois Statutes relating to condominiums, the
condominium covenants, conditions and restrictions shall
include a provision whereby the Village shall have the
right, but not the obligation, to enforce covenants or
obligations of the association or the owners of the units
as defined and provided within the Declaration of
Condominium, and further shall have the right, upon thirty
(30) days prior written notice specifying the nature of a
default, to enter upon common open spaces and cure such
default, or cause the same to be cured at the cost and
expense of the association or the owner or owners thereof.
The Village shall also have the right to charge or place a
lien upon the property of the condominium association for
the repayment of such costs and expenses, including
reasonable attorneys ' fees in enforcing such obligations.
The declaration shall further provide that this provision
may not be amended without the approval of the Village.
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Prior to recording, the finalized Declaration of
Condominium shall be submitted to the Corporate Authorities
for their approval. Said Declaration shall include, but
not by way of limitation, the following covenants and
obligation: to maintain the common areas pursuant to
Village of Buffalo Grove Ordinances and in a neat and
orderly manner.
18. Pro 'ect Models. The Village agrees to
permit the Developer to construct and maintain one model
area on the Property, together with suitable off-street
parking areas and related improvements, all subject to
Appearance Commission approval. Such construction shall be
in compliance with the provisions of the Village ' s Building
Code in existence at the time of building permit issuance.
Further, the Developer may utilize models only as a project
office for the marketing of portions of the Property. Such
use shall be discontinued when the project contemplated
herein has been fully and finally contemplated.
19. Ri ht of Wa Dedication. The Owner
acknowledges that it is the intention of the Village and
other involved agencies that at some time in the future
Busch and Weiland Roads will be widened. At the request of
the Village, but no later than upon approval of the initial
Final Plat of Subdivision, the Owner agrees to dedicate
such additional . right-of-way along Busch Road as may be
required to permit the expansion of the right-of-way of
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Busch Road to sixty (60) feet from the center line, and
Weiland Road to fifty-one (51) feet from the center line.
20. Park District Donations. Developer agrees
to comply with the provisions of Title 19 of the Buffalo
Grove Municipal Code as amended from time to time regarding
park donations.
21. School District Donations. Developer agrees
to comply with the provisions of Title 19 of the Buffalo
Grove Municipal Code as amended from time to time regarding
school donations.
22. Library District Donations. Developer
agrees to comply with the provisions of Title 19 of the
Buffalo Grove Municipal Code as amended from time to time
regarding library donations.
23. Annexation to the Buffalo Grove Park
District. The Developer agrees, at the request of the
Buffalo Grove Park District, to annex any part or all of
the subject Property to said Park District.
24. Facilitation of Development. Time is of the
essence of this Agreement, and all parties will make every
reasonable effort to expedite the subject matters hereof.
It is further understood and agreed that the successful
consummation of this Agreement and the development of the
Property in the best interests of all the parties requires
their continued cooperation. The Owner does hereby
evidence his intention to fully comply with all Village
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requirements, his willingness to discuss any matters of
mutual interest that may arise , and his willingness to
assist the Village to the fullest extent possible. The
Village does hereby evidence its intent to always cooperate
in the resolution of mutual problems and its willingness to
facilitate the development of the Property, as contemplated
by the provisions of this Agreement.
25. EnforceabilitV of the A reement. This
Agreement shall be enforceable in any court of competent
jurisdiction by any of the parties or by an appropriate
action at law or in equity to secure the performance of the
covenants herein described. If any provision of this
Agreement is held invalid, such provisions shall be deemed
to be excised herefrom and the invalidity thereof shall not
affect any of the provisions contained herein.
26. Term of Agreement. This Agreement will be
binding on all parties for a term of ten (10) years from
the date of the execution of this Agreement by the Village.
This Agreement shall not be assigned without prior written
consent of the Village, which consent shall not be
unreasonably withheld.
27. Bindinq Effect of A reement. This Agreement
shall be binding upon the parties hereto, their respective
successors and assigns .
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28. Corporate Capacities. The parties
acknowledge and agree that the individuals that are members
of the group constituting the Corporate Authorities are
entering into this Agreement in their official capacities
as members of such group and shall have no personal
liability in their individual capacities.
29. Notices. Any notice required pursuant to
the provisions of this Agreement shall be in writing and be
sent by certified mail to the following addresses until
notice of change of address is given and shall be deemed
received on the fifth (5th) business day following deposit
in the U.S. Mail.
If the Owner: First State Bank of Park Ridge,
not personally but as Trustee
under Trust No. 1269
607-11 Devon Avenue
Park Ridge , Illinois 60068
Copy to: Lawrence M. Freedman, Esq.
77 West Washington Street
Suite 1211
Chicago, Illinois 60602
If to Village : Village Clerk
Village of Buffalo Grove
50 Raupp Boulevard
Buffalo Grove, Illinois 60090
Copy to: William G. Raysa
Bloche, French & Raysa
1011 Lake Street
Oak Park, Illinois 60301
30. Default. In the event Owner defaults, in
its performance of his obligations set forth in this
Agreement, then the Village , may , upon notice to Owner,
allow Owner sixty (60) days to cure default or provide
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evidence to the Village that such default will be cured in
a timely manner if it cannot be cured during said period.
If Owner fails to cure such default or provide such
evidence as provided above, then, with notice to Owner, the
Village may begin proceedings to disconnect from the
Village any portion of the Property upon which development
has not been completed or at the option of the Village, to
rezone such property to the R-1 District zoning classifi-
cation. In such event, this Agreement shall be considered
to be the petition of the Owner to disconnect such portion
of the Property, or at the option of the Village to rezone
such property to the R-1 District zoning classification.
31. S ecial Conditions.
A. Upon construction of the initial phase
of the Property, Owner shall construct Busch Parkway as a
39 foot back of curb to back of curb from Weiland Road to
the east property line of the Property. The entrance to
Busch Parkway east of Weiland shall contain a standard 16
foot median with a left turn storage bay. The median
and/or right of way entered shall be landscaped with trees
if requested by the Village. In the event The Corporate
Grove Property commences development prior to the
development of the Property, and the Village desires to
have the improvements required under this subparagraph to
be installed at that time , the Village agrees to cause the
construction to be provided for under this subparagraph to
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be performed on behalf of the Property and in such event,
the Village shall be entitled to recapture the costs of
same prior to the issuance of any building permits for the
construction of any building on any portion of the Property
and the Village shall further have a lien against the
Property for such amount.
B. The Owner shall be responsible for its
proportionate share of the cost of constructing turn bays
on Busch Parkway and on Weiland Road as recommended in the
"Traffic Study, Corporate Grove Industrial Park, Buffalo
Grove, Illinois" prepared by Paul C. Box and Associates ,
October 10, 1983, which share shall in no event exceed the
sum of Eighty Five Thousand ($85, 000. 00) Dollars adjusted
for inflation based upon the Engineering News Record Index
("ENRI" ) . In the event The Corporate Grove Property
commences development prior to the development of the
Property, and the Villages desires to have the improvements
required under this subparagraph to be installed at that
time, the Village agrees to cause the construction to be
provided for under this subparagraph to be performed on
behalf of the Property and in such event, the Village shall
be entitled to recapture the costs of same prior to the
issuance of any building permits for the construction of
any building on any portion of the Property and the Village
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shall further have a lien against the Property for such
amount.
C. The Owner shall be responsible for one
half (h) of the Village ' s share of a traffic signal at
Busch and Weiland Road once warranted, provided however, in
no event shall Owner be required to pay said amount anytime
prior to the issuance of the first building permit on that
portion of the Property which is proposed to be developed
under the R-9 P.U.D. classification and further provided
that said amount shall in no event exceed the sum of Twenty
Five Thousand ($25, 000. 00) Dollars subject to inflation
based upon the ENRI.
D. The Owner shall install bicycle paths on
the property and adjacent right of ways pursuant to the
Buffalo Grove Comprehensive Plan.
IN WITNESS WHEREOF, the Corporate Authorities and
Owner have caused this instrument to be executed by their
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respective proper officials duly authorized to execute the
same on the day and the year first above written.
VILLAGE OF BUFFALO GROVE
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FIRST STATE BANK OF PARK RIDGE,
not personally but as Trustee
under Trust No. 1269,
tnTTES,�i,'�' 0 Assistant,,Trust Officer =
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Assiftl n Trust Officer >
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r=. It is expressly understood and agreed by and between the parties hereto, anything herein to the contrary notwithstanding, that
Q each and all of the warranties, indemnities, representations, covenants, undertakings and agreements herein made on the part of T 0
t a the Trustee while in form purporting to be the warranties, indemnities, representations, covenants, undertakings and agreements of p -<
Q said Trustee are nevertheless each and every one of them, made and intended not"as personal warranties, indemnities, ;� A
representations, covenants, undertakings and agreements by the Trustee or for the purpose or with the intention of binding said m o
Trustee personally but are made and intended for the purpose of binding only that portion of the trust property specifically des
cribed herein; and this instrument executed and delivered by said Trustee not in its own right, but solely in the exercise of the o
powers conferred upon it as such Trustee and that no personal liability or personal responsibility is assumed by nor shall at any
a time be asserted or enforceable against First State Bank and Trust Company of Park Ridge or anv of the beneficiaries under r
said Trust Agreement, on account of this instrument or on account of any warranty, indemnity, representation, covenant, undertak- -+
µ; ing or agreement of the said Trustee in this instrument contained, either expressed or implied, all such personal liability, ii any, s
z being expressly waived and released. c
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