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1980-026 I ORDINANCE NO.80- 26 AN ORDINANCE APPROVING ANNEXATION AGREEMENT AND DIRECTING EXECUTION THEREOF BY THE PRE- SIDENT and CLERK OF THE VILLAGE OF BUFFALO GROVE Ha Farm WHEREAS, there has heretofore been submitted to the corporate authorities of the Village of Buffalo Grove, a petition to annex the property legally described as follows: The South 1/2 of the East 1/2 of the Southwest 1/4, except the South 50.0 feet thereof, and the West 14.50 chains of the South 13.793 chains of the Southeast 1/4, except the South 50.0 feet thereof, in Section 5, Township 42 North, Range 11, East of the Third Principal Meridian taken as a trace. and excepting therefrom that part thereof bounded by a line described as follows: I Beginning at the Southwest corner of the South 1/2 of the East 1/2 of the Southwest 1/4 of said Section 5; thence North along the West line thereof, 475.0 feet; thence East parallel with the South line of said Southwest 1/4, 887.0 feet; thence South parallel with the West line of the South 1/2 of the East 1/2 of said Southwest 1/4, 475.0 fret to a point on the South line of said Southwest 114; thence West along the South line of the Southwest 1/4 of said Section 5, 887.0 feet to the point of beginning, in Cook County, Illinois. r jWHEREAS, there has also been submitted to the corporate authori- ties of the Village of Buffalo Grove, an Annexation Agreement pur- suant to statute; and WHEREAS, the Village is a Home Rule unit by virtue of the provi- sions of the Constitution of the State of Illinois of 1970; and WHEREAS, proper and due notices of public hearings for zoning a and annexation on said Annexation Agreement 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 TRUS- TEES OF THE VILLAGE OF BUFFALO GROVE, COOK and LAKE COUNTIES, ILLI- NOIS, as follows: 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 au- thorized to execute said Agreement on behalf of the Village of Buffa- lo Grove. -2- SECTION 3. This Ordinance shall be in full force and effect from and after its passage and approval in the manner provided by law. AYES: 5 - Marienthal , Stone, Hartstein, Kavitt, Gerschefske NAPES: 1 - O'Reilly ABSENT: 0 - None PASSED this 2nd day of June ,1980. APPROVED this 2nd day of .tune _,1980. APPROVED: nESIDENT ATTEST: VILLAGE CLERK � W 'V T' CA F p ANNEXATION AGREEMENT ;LO: This Agreement (hereinafter referred to, as the "Agreement"), made and entered into this _2.- day of `TGc�t 19 by and 3T..C• between the VILLAGE OF BUFFALO GROVE, ILLINOIS (hereinafter referred to as the "Village"), by and through the President and Board of Trustees of the Village (hereinafter collectively referred to as the "Corporate Authorities"); RICHARD HAPP, not individually, but as Trustee under a Trust Agreement dated August 17, 1974 and known as Trust No. 1, whose beneficiary is �F LEONA HAPP (hereinafter collectively referred to as the "Owner" 'O_ and MIDWEST DEVELOPMENT CORPORATION, an Illinois corporation (hereinafter collectively with its successors and assigns with respect to the Property hereinafter defined referred to as the h' "Developer"). 3 WITNESSETH: WHEREAS, the Developer has an option contract to purchase from the Owner approximately forty-eight and four tenths (48.4) t' = acres of real property, the description of which is set forth j on the Plat of Annexation which is attached hereto as Exhibit A and made a part hereof (hereinafter referred to as the "Property"), and which real estate is contiguous to the corporate limits of the Village; WHEREAS, the Developer desires and proposes, pursuant to the present provisions and regulations applicable to the R-9 Zoning District of the Village Zoning Ordinance with a Special IQ Use Planned Development as to Phases I, II and III (excluding the office complex, as shown on the Preliminary Plan as herein- ~ v'l after defined), and the B-3 Zoning District of the Village Q� Zoning Ordinance as to the office complex of Phase III, as ' shown on the preliminary development plan as hereinafter de- fined (referred to herein as the "Zoning Ordinance"), to de- velop the Property in accordance with and pursuant to a certain G preliminary development plan ("phasing plan") prepared by Michael L. Ives & Associates, Inc. , as revised through April 8, 1980, and also a preliminary engineering plat prepared by McBride, Lovejoy & Associates, Inc. , dated as last revised on April 8, 1980, (hereinafter jointly referred to as the "Pre- liminary Plan"), a copy of which proposed Preliminary Plan is attached hereto as Exhibit B and Exhibit H, respectively, and incorporated herein, and subject to all other Exhibits identi- fied in Paragraph 11 herein; said development of Phases I, II and III (excluding the park and office complex) to contain four hundred seventy-four (474) multi-family attached residential dwelling units, said development as to the office complex of Phase III to contain not more than 229,200 square feet of office space, with accessory uses to specifically include a restaurant, travel agency, barber shop, recreation facilities and banking facilities (except that as to any free-standing drive-in facilities, a special use permit must first be obtained from the Village); and shall be subject to all ordinances, codes and regulations of the Village, as amended from time to time, including those variations specifically described in this Agreement; WHEREAS, pursuant to the provisions of Section 11-15.1-1, et seq. of the Illinois Municipal Code (Chapter 24, Illinois Revised Statutes, 1975), a proposed annexation agreement in substance and in form the same as this Agreement was submitted to the Corporate Authorities, and a public hearing was held thereon pursuant to notice as provided by statutes; and WI-IEREAS, pursuant to due notice and advertisement in the manner provided by law, the Plan Commission of the Village has held such public hearings prescribed by law with respect to the requested zoning classification of R-9 Special Use Planned ?�} Development as to Phases I, II and III (excluding the office % complex), and B-3 Business Zoning Classification as to the On office complex of Phase III and has submitted to the Corporate Authorities its recommendations concerning such zoning and special use; NOW, THEREFORE, in consideration of the promises and mutual covenants and agreements hereinafter set forth, the parties hereto agree as follows: 2 APPLICABLE LAW 1. This Agreement is made pursuant to and in accordance with the provisions of Section 11-15.1-1, et seq. of the Municipal Code. ' AGREEMENT COMPLIANCE AND VALIDITY „ 2. The Developer has filed with the Village Clerk of the Village, a proper petition, pursuant to and in accordance with the provisions of Section 7-1-8 of the Municipal Code, condi- tioned 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 under the Zoning Ordinance in accordance with Article VI, Section 5, R-9 Special Use Planned Development zoning classification as to Phases I, II and III (excluding the office complex), and Article XI, Section 4, B-3 Planned Business Center zoning classification as to the office complex of Phase III, all as contemplated in this Agreement. ..�._ ENACTMENT OF ANNEXATION ORDINANCE 3. The Corporate Authorities, within ninety (90) days of the execution of this Agreement by the- Village, will enact a valid and binding ordinance and record same with the Cook County Recorder's Office, along with the Plat of Annexation (herein referred to as the "Annexation Ordinance"), annexing the Property to the Village. The Village shall notify all entities or persons in accordance with any statutory or ordi- nance requirements. .y. ENACTMENT OF ZONING ORDINANCE 4. Within fourteen (14) days after the passage of the r Annexation Ordinance, the Corporate Authorities shall adopt a proper, valid and binding ordinance zoning and classifying Phases I, II and III (excluding the office complex) in the R-9 zoning district with a Special Use Planned Development, for the construction of a planned unit development containing four .m 3 hundred seventy-four (474) multi-family attached residential dwelling units, as hereinafter set forth and classifying the office complex of Phase III in the B-3 zoning district, along with any variances as may be required, all in conformance with the exhibits and conditions of this Agreement. PLAN DATA LAND USE NO. OF DU's NET AREA DEDICATED STS. GROSS AREA PERCENT (Ac+) (Ac+) (Ac+.) Manorhomes 180 13.5 4.1 17.6 36.4 Multi-family 294 15.0 1.3 16.3 33.7 Office Park --- 6.9 1.3 8.2 16.9 Open Space/Detention--- 6.1 0.2 6.3 13.0 TOTAL 474 41.5 6.9 48.4 100.0 DENSITIES Project Density** 474 40.2 Ac+ = 11.8 DU/AC **No. of Du's Area exclusive of Gross Office Park. PARKING USE QUANTITY RATIO (Spaces to Unit*** MANORHOME 180 DU's -- - Attached 180 1:1 - Bay 180 1:1 - Guest 11 0.06:1 TOTAL 371 2.06:1 MULTI-FAMILY 294 DU's -- _ - Enclosed 282 0.96:1 - Guest 222 0.76:1 TOTAL 504 1.711 OFFICE 229,200 sq. ft. -- - Enclosed 298 - Bay 275 TOTAL 573 1400 ***For office use ratio is spaces to square foot APPEAL TO FEDERAL EMERGENCY MANAGEMENT AGENCY 5. The Developer has filed an appeal with the Federal N) Emergency Management Agency seeking revision of the flood "A r, insurance mapping elevations. Both the Developer and the CA Village are of the opinion that the appeal is well founded. "ID (7J However, in the event the a ~ppeal and revisions sought are denied, then at the option of the Village, the parties will not be bound by the Preliminary Plan and the Property can be re- zoned to a density of not less than that shown by the Village's presently existing Comprehensive Plan or at the option of the Developer, the Property can be disconnected. 4 APPROVAL OF PLATS 6. The Corporate Authorities hereby approve a preliminary plat of subdivision, pursuant to the provisions of Section VI of the Village Subdivision Regulations Ordinance, and in addi- tion, agree to approve a final subdivision plat or plats of the development of the Property promptly upon submission by the Developer of complete and proper materials, as required, and issue such appropriate building, occupancy and other permits based upon the final versions of the plans and drawings for the development of the Property, as submitted by the Developer, provided that: A. Final documents, except as hereinafter set forth, conform to the Preliminary Plan (Exhibit B and Exhibit H); B. Developer conforms to the terms of this Agreement and all applicable Village Ordinances; and C. Developer files with the Village a fully executed SIA (Subdivision Improvement Agreement). It is understood and agreed that the final subdivision plat or plats that will hereinafter be submitted by the Developer need not conform to the phases of the development as shown on the Preliminary Plan. AMENDMENT OF PLAN 7. If the Developer desires to make substantial changes in the Preliminary Plan, as herein approved, the parties agree that such changes in the Preliminary Plan 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, P-► U1 and may review the commitments of record contained in this Agreement, including, but not limited to, fees prior to final ~ consideration of any change in the Preliminary Plan. WATER PROVISION B. The Developer shall be permitted and agrees to tap on to the Village water system at the points recommended by the Village Engineer, and pay to the Village such fees for such 5 tap-ons in accordance with the applicable Village Ordinances at the time of issuance of the water and sewer permits. The Developer agrees to accept any increase in water rates and tap-on fees provided that such fees and rates are applied 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 (in accordance with the Preliminary Development Plan (Phasing Plan), in a non-discrimina- tory manner, water service to all the residential units and office complex to be constructed on the Property in accordance with the Preliminary Plan, Preliminary Plat and Final Plat of Subdivision. Water mains serving the Property (on-site and off-site to meet fire flow requirements), and those approved as part of this development, shall be installed by Developer, 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 part of the Village water main system and maintained by the Village. SEWER AND DRAINAGE PROVISIONS 9. A. The Corporate Authorities agree to cooperate with the Developer and to use their best efforts to aid Developer in obtaining such permits from governmental agencies having jurisdiction as may be necessary to authorize connection from the proposed development to the Metropolitan Sanitary District for the collection of sewerage, and to the Illinois Department of Transportation, as may be appropriate. The Developer shall construct on-site and off-site sanitary sewers as may be neces- sary to service the Property. Upon installation and acceptance vn by the Village through formal acceptance action by the Corporate :.0 Authorities, the Corporate Authorities agree to operate and maintain such systems, except for sanitary sewer service connec- tions. The Developer 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. 6 B. The Developer shall also construct any storm sewers which may reasonably 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 serves public streets, or multiple properties. The private property owners shall maintain that portion of the storm sewer system which exclusively serves private parking areas or other private property. There will be restrictive covenants recorded for the maintenance and opera- tion of the lake drainage facility in the office complex and prohibition of parking lot detention. DEVELOPER RECAPTURE OF UTILITY COSTS 10. It is further understood and agreed that a portion of the system of sanitary and storm sewers, drainage systems, water mains, all to be constructed and installed by the Developer to serve the proposed development on the Property (herein referred to as "Developer'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 Developer, thus . making such sanitary and storm sewers, drainage systems and water service available thereto. The Corporate Authorities agree to adopt an ordinance and take such other action as may be necessary to permit the Developer to recapture from such neighboring property owners as may be benefitted by Developer's Improvements, as determined by the Village, that portion of the actual costs of the construction and installation of Developer's Improvements, including accrued interest on any construction loans, less a collection fee payable to the Village, in such proportionate amounts from such neighboring property owners as Z may be so benefitted. The Village and Developer agree to use pj their best efforts to cooperate to achieve the most practical and feasible route to the off-site utilities connection points. The Village agrees to cooperate with the Developer in effectuating recapture from future users, as appropriate, including, but not necessarily limited to, advising Developer of additional connec- 7 tions which the Village intends to permit, collecting and remitting fees, executing and recording appropriate recapture documents, and any other lawful means available to the Village. EXHIBITS 11. The following exhibits, which were presented in testimony given by the Developer or other witnesses during the hearings held before the Plan Commission and the Corporate Authorities prior to the execution of this Agreement, are hereby made a part hereof and designated as shown below, whether or not physically attached to the Agreement. Said exhibits shall be kept on file by the village Clerk and will be avail- able for inspection by the parties hereto: Plat of Annexation Exhibit A Preliminary Development Plan Exhibit B (Phasing Plan) Petition for Annexation Exhibit C Manual of Practice Exhibit D Performance Guarantees (Administrative Exhibit E Order 2 and Subdivision Improvement Agreement) Illinois School Consulting Tables Exhibit F (Published February 27, 1979) Preliminary Architectural and Landscape Exhibit G Plan and Incentive Analysis Preliminary Engineering Plat Exhibit H DCCR's (care and maintenance Exhibit I Open Space) Buffalo Grove Park District Agreement Exhibit J Evidence of Ownership or Control Exhibit K ANNEXATION FEE 12. Developer agrees to pay to the Village an annexation N fee of $200.00 per residential dwelling unit to be constructed +� on the Property, payable at the time the building permit for 4� each respective building to be constructed on the Property is issued, $600.00 per acre for the office complex of Phase III, payable on January 1, 1983. COMPLIANCE WITH APPLICABLE ORDINANCES 13. Developer agrees to comply with all Village Ordinances that exist at the time the building permits are issued. Developer 8 shall cause the standards set forth in the "Village of Buffalo Grove Engineering Standards", commonly referred to as the "Manual of Practice" (herein referred to as "Village Standards"), which has been made a part hereof as Exhibit D, to be fully complied with in the development of the Property. Except notwithstanding anything contained in the Manual of Practice to the contrary, Developer shall only be required to provide an eight foot (81 ) wide concrete bikepath parallel to Dundee Road along the south boundary of the Property and along Weidner Road from Dundee Road north to the designated park area on the Preliminary Development Plan (Phasing Plan) . Any other bike- path, as shown on the Preliminary Development Plan (Phasing Plan) .shall be of asphalt. Further, the Developer agrees to i enter into a Subdivision Improvement Agreement at the time of filing the final Plat or Plats of Subdivision in form acceptable to the Village. . STREET AND PARKING AREA PROVISIONS 14. The Developer agrees, except as noted herein, that all streets and parking areas are to be constructed in accor- dance with Village Standards, including pavement, curb, gutter and lighting standards for local streets, and the width direc- tion, and ownership of all streets are to conform to the provi- sions of the Preliminary Plan. A. COLLECTOR STREET STANDARDS. The collector street (Weidner Road) shall conform to all Village Standards, except the right-of-way width shall be one hundred (100) feet only at the approach to Dundee Road, and shall be eighty (80) feet at all other locations. Construction .�1 of the collector street shall be completed along its entire G1 length within twenty-four (24) months of Final Plat approval zz for any segment of Phase I of the development. There will be restrictive covenants recorded for the maintenance of the divider on the collector street. DESIGNB. STANDARDS FOR MINOR STREETS AND PARKING AREAS. Minor streets (the extension of White Pine Road and Sandy Lane) shall be dedicated as public street right-of-ways from n I�,..- 9 the right-of-way line to the right-of-way line, being a width of sixty (60) feet, as shown on the Preliminary Development Plan (Phasing Plan). Construction of the minor streets shall be completed along their entire length within twenty-four (24) months of Final Plat approval for any segment of Phase I of the development. A barricade shall be erected along Sandy Lane where it dead-ends along the eastern boundary line of the Property. Parking area pavements shall conform to the Village Standards for local streets that relate to structural pavement strength and building materials. C. DESIGN STANDARDS FOR MINOR STREETS THAT RE UIRE VARIANCE. Minor streets that require variance (Jeffrey Manor and Lisa Court) shall be dedicated as public street right-of-ways from the right-of-way line to the right-of-way line, being a width of thirty-seven (37) feet, as shown on the Preliminary Development Plan (Phasing Plan). Construction of the minor streets that require a variance shall be completed along their entire length prior to the issuance of any occupancy permit for Phase II of the development. CONSTRUCTION TRAFFIC PROHIBITION 15. Construction traffic is prohibited from entering or exiting from the north of the Property by use of Weidner Road and White Pine Road. WEIDNER ROAD AT DUNDEE ROAD LEFT TURN BAY AND TRAFFIC SIGNAL 16. A. Developer shall cause to be constructed upon the approval of the Illinois Department of Transportation and upon approval of all other state and local agencies as may be re- quired, a left-turn bay (lane) for traffic on the west approach of Dundee Road, with approximately one hundred ten (110) feet of storage. C!f B. At such time as warrants are met and all approvals N are obtained from state and local agencies, as may be required, but in no event prior to completion of Weidner and White Pine Roads in the Development, the Developer agrees to pay for the local share of any traffic signal installed at the intersection of Weidner Road and Dundee Road. In addition to payment of the 10 local share, in the event the state does not reimburse the Village for the state's share of such traffic signal within one hundred eighty (180) days of the Village's payment thereof, the Developer agrees to reimburse the Village for such payment. However, in no event shall such additional payment be required prior to completion of Weidner and White Pine Roads in the Development. Upon receipt of such payment from the Developer, the Village agrees to assign all rights to the Developer that it may have against the state for payment of the state's share for said traffic signal. BUILDING AND LANDSCAPING PLANS 17. As required under Village Ordinance No. 72-12 and all amendments thereto, Developer will submit building and land- scaping plans (which landscaping plans shall conform to the requirements of Village Ordinances) for approval by the Appear- ance Commission and the Corporate Authorities before commencing construction of buildincis. It is further agreed that the Developer shall submit to the Appearance Commission and Cor- porate Authorities for examination and approval a proposed plan for each different model multi-family building to be constructed upon the Property. There presently exists five (5) billboards (signs) on the Property which do not meet Village standards as to size. The Developer agrees to fully cooperate with the Village in seeking the removal of all except one of the signs. The Village agrees to allow one (1) sign to remain on the Property until completion of Phase III of the Development. DRAINAGE PROVISIONS 7� 18. Developer shall fully comply with any reasonable - .J tU' request of the Village Engineer related to placement of build- }..► ings on lots, to preserve drainage standards.. Developer 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. 11 ( n R' t LIBRARY DISTRICT PROVISIONS 19. Developer agrees, at the request of the Indian Trails Library District, to annex any part or all of the Property to said library district. PARK DISTRICT PROVISIONS 20. The Developer agrees, at the request of the Buffalo Grove Park District, to annex any part or all of the Property to said park district. The Developer has reached agreement with the Buffalo Grove Park District in satisfaction of Ordi- nance No. 79-63 concerning parks. This agreement is attached as Exhibit J to this Agreement. BUILDING PERMIT FEES 21. Building permit fees may be increased from time to time, as long as said permit fees are applied consistently to all other similar developments in the Village to the extent possible. In the event a conflict arises' between the Developer and Village on any engineering or technical matter subject to this Agreement, the Village reserves the right to pass along any and all reasonable additional expenses incurred by the use of consultants in the review and inspection of the subdivision. The Village reserves the right to amend its Building and/or Subdivision Regulations, from time to time. Developer shall pay any non-discriminatory new or additional fees hereafter charged by the Village to developers of property within the Village. SECURITY FOR PUBLIC AND PRIVATE SITE IMPROVEMENTS 22. In lieu of any bonds or deposits required for site improvements under Village Ordinances and Administrative Order #2 made a part hereof as Exhibit E, except for sanitary sewer G� inspection deposits and the Subdivision Improvement Agreement cash deposit, the Developer may, at its election, furnish to the Village an irrevocable letter of credit issued by a sound and reputable banking or financial institution authorized to do business in the State of Illinois, or other security acceptable to the Village, in an amount equal to the amount of bonds or deposits required by Village Ordinances. Said irrevocable 12 letter of credit or other security shall be limited to the amount required for site improvements specified in Administra- tive Order #2 (including, but not limited to improvements, engineering and contingency costs, both public and private, such as earth work, streets, driveway and parking area pave- ments, sidewalks, sanitary and storm sewers, water mains, drainage and storm retention facilities, site grading, street lighting and landscaping) for those areas of the Property which have received final subdivision approval by the Village. All performance guarantees and approvals thereof shall be in accor- dance with Exhibit E and an approved Subdivision Improvement Agreement. All bonds, deposits or letters of credit that may be given to the Village shall be promptly returned to the Developer in accordance with the performance guaranties. DEVELOPER CONTRIBUTIONS 23. Developer agrees to comply with the provisions of Ordinance No. 79-63' regarding school, park and library donations as hereinafter set forth. Developer agrees that he will make contributions of money, in lieu of contributions of land, for school sites. Such contributions shall be paid to the Village concurrently with the issuance by the Village of the building permit for each dwelling unit constructed on the Property. The contribution amount shall be based upon the estimated number of children produced per dwelling unit, as estimated on the "Table of Estimated Ultimate Population Per Dwelling Unit", as published by the Illinois School Consulting Service. The most recent V 'l1 such table was published on February 27, 1979, and was in- kA corporated herein as Exhibit F. Pursuant to such Table, the CA amount to be contributed is as follows: p`�a A. 1. For each dwelling unit containing one (1) or fewer bedrooms, the amount of $38.45. 2. ' For each dwelling unit containing two (2) or more bedrooms, the amount of $125.84. B. The total cash contribution to School District 21 for Phases 1, II and III is estimated to be $15,750.00 for the Elementary School and $4,550.00 for the Junior High; and :. 13 the total cash contribution to School District 214 for Phases I, II and III is estimated to be $6,650.00. C. The total cash contribution to the Library District is $19,851.12. No contribution is required for the office complex of Phase III. FACILITATION OF DEVELOPMENT 24. 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 Developer does hereby evidence his intention to fully comply with all village 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 resolu- tion of mutual problems and its willingness to facilitate the development of the Property, as contemplated by the provisions of this Agreement. ENFORCEABILITY OF AGREEMENT 25. This Agreement shall be enforceable in any court of competent jurisdiction by any of the parties or by an appropri- ate action at law or in equity to secure the performance of the covenants herein contained. If any provision of this Agreement is held invalid, such provision shall be deemed to be excised herefrom and the invalidity thereof shall not affect any of the other provisions contained herein. r TERM OF AGREEMENT 26. This Agreement will be binding on all parties for a j-► term of ten (10) years from the later of the date of the execu- tion of this Agreement by the Village, or the effective date of the zoning reclassification provided in Paragraph 4. BINDING EFFECT OF AGREEMENT 27. This Agreement shall be binding upon the parties hereto, their respective successors and assigns; provided, 14 however, that in the event Developer's obligations hereunder r are assumed in writing (and a copy of which assumption is delivered to the Village) by a successor to peveloper's in- terest in the Property, the Village agrees to look solely to Developer's successor for the performance of Developer's obli- gation hereunder. DEDICATION PARCELS 28. The parcels designated as park and detention, other than any detention in the office complex (the "Dedication Parcels"), as shown on Exhibit B, shall be deeded by Trustee's Deed to the Village at the time of the recording of the Plat of Subdivision of that portion of the Property containing such Dedication Parcels. At Developer's expense, Developer shall provide the Village with a title insurance policy in the amount of One Thousand Dollars ($1,000.00) regarding the Dedicated Parcels. Developer will cause to be prepaid and will deliver plats of all portions of the Property which are to be conveyed and/or dedicated, and.Developer warrants that all real estate taxes, including any dual valuation real estate taxes to the date of acceptance will be paid. All dedications shall conform with the requirements of Village Ordinance 79-63 and any subse- quent agreements between Developer and the Village Park District. PROJECT MODELS 29. The Village agrees to permit the Developer to construct and maintain three (3) model areas on the Property, consisting of a maximum of one (1) building for each of the model areas, together with suitable off-street parking areas, all subject to :l Appearance Commission approval. Such construction shall be in �.. G7 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 or a residence as a project office for the marketing of portions of the Property; provided, however, that such use shall be discontinued when the project contemplated herein has been fully and finally completed. CORPORATE CAPACITIES 30. The parties acknowledge and agree that the individuals who are- members of the group constituting the Corporate Authori- ,. 15 ties are entering into this Agreement in their official capaci- ties as members of such group and shall have no personal liabil- ity in their individual capacities. NOTICES 31. Any notice required pursuant to the provisions of this Agreement shall be in writing and sent by certified mail, to the following addresses (until notice of change of address is given), and shall be deemed received on the second business day following deposit in the U.S. Mail: If to Owner: Mr. Richard Happ, Trustee 408 East Dundee Road Arlington Heights, Ill. 60004 Copy to: Robert E. Field, Esq. Seyfarth, Shaw, Fairweather & Geraldson 55 East Monroe Street 42nd Floor Chicago, Ill. 60603 If to Developer: Midwest Development Corporation 4849 West Golf Road Suite 700 Skokie, ill. 60077 Copy to: Perry J. Snyderman, Esq. Theodore A. Shapero, Esq. Rudnick & Wolfe 30 North LaSalle Street Chicago, Ill. 60602 If to Village: Village Clerk Village of Buffalo Grove 50 Raupp Boulevard Buffalo Grove, 111. 60090 Copy to: Bloche, French & P.aysa 1011 Lake Street Oak Park, Ill. 60303 Attention: Mr. William Raysa TRUSTEE EXECUTION ?v 32. This instrument is executed by RICHARD HAPP, not - % personally, but solely as Trustee aforesaid, in the exercise of the power and authority conferred upon and vested in it as such Trustee. All the terms, provisions, stipulations, covenants and conditions to be performed by the Trustee are undertaken by it solely as Trustee, as aforesaid, and not individually, and all statements herein made are made on information and belief and are to be construed accordingly, and no personal liability shall be asserted or-be enforceable against the Trustee by reason of any of the terms, provisions,_ stipulations, covenants and/or statements contained in this instrument. 16 DEFAULT 33. In the event Developer defaults in his performance of his obligations set forth in this Agreement,, and at such time, the Village is not in default in its obligations, then the Village, may, upon notice to Developer, allow Developer one hundred eighty (180) days to cure such default or provide evidence to the Village that such default will be cured in a timely manner if it cannot be cured during said period. If Developer fails to cure such default or provide such evidence as provided above, then, with notice to Developer, the Village may begin proceedings to disconnect from the Village any por- tion of the Property upon which development has not commenced, or at the option of the Village, to rezone Phases I, II and III to the R-1 District zoning classification. In such event, this Agreement shall be considered to be the petition of the Developer to disconnect such portion of the Property, or at the option of the Village to rezone Phases I, II and III to the R-1 District Zoning Classification. IN WITNESS WHEREOF, the Corporate Authorities, Owner and Developer have caused this instrument to be executed by their respective proper officers duly authorized to execute the same on the day and year first written above. ATTEST: THE VILLAGE OF BUFFALO GROVE, a Municipal Corporation of the Sate of Illinois 12,ge Cl rk Village Presiden 7A N 17 RICHARD HAPP, not personally, but as Trustee under a Trust Agreement dated August 17, 1974 and known as Trust No :���. , �.; ... ;0 ATTEST: - MIDWEST DEVELOPMENT CORPORATION fug ecretary ' iident _ •il it 1 O j O c BLOCHE, FRENCH ATTORNEYS AT t— )♦UITE 332 1011 U.-L ;-:;_LT • M ffMK,..ILL1N015 60301 MLOCH6, FRE OH RAl'$A ATTO1fAfLY{ AT FANS •� WATE 332 1011 LAKE ST"Zi P— pSK PPAK, KJJNQIS KI P! (/T DOCUMENT t� HAS BEEN MICROFILMMED �° 25615981. 1001, SEE JACKET FILE No - �O r/ t L� N0 PLAT V. 18