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1991-075 8/28/91 ORDINANCE NO. 91- 75 AN ORDINANCE APPROVING AN ANNEXATION AGREEMENT Stone Creek (the Schwennesen property) 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 notice of the public hearing on said Annexation Agreement and Zoning has been given and a public hearing was held; and, WHEREAS, it is determined to be in the best interest 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: 6 - Mareinthal, Reid Kahn Rubin, Braiman, Hendricks NAYES: 0 - None ABSENT: 0 - None PASSED: September 3. 1991 APPROVED: --September 3 1991 ATTEST: i�; APPROVED: Vill e Clerk- MAT f IAS, Village President 9/3/91 STONE CREEK (the Schwennesen Property) Annexation Agreement TABLE OF CONTENTS 1 . Applicable Law. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 2. Agreement: Compliance and Validity. . . . . . . . . . . . . . . . . . . . . . . . . . . . ..2 3. Enactment of Annexation Ordinance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 4. Enactment of Zoning Ordinance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 5. Approval of Plats. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 6. C2M liance with Applicable-Ordinances. . . . . . . . . . . . . . . . . . . . . . . . . . . .5 7. Amer&-Kent of Plan. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 8. Building Permit Fees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .•6 9. Water Provision. . . . . . . . . . . . :. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 10. Storm and Sanitary Sewer Provisions. . . . . . . . . . . . . . . . . . . . . . . . . . .7 11 . Drainage Provisions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 12. Pa nent of Recapture Fees Owed. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 13. Securi ty for Public and Private Site Irrprovements. . . . . . . . . . . . . . . .9 14. Exhibits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 15. Annexation Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 16. Bui Idi2q, Landscaping and Aesthetics Plans. . . . . . . . . . . . . . . . . . . . . .10 17. Project Models. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 18. Riqht-of-Wav Dedication. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 19. Park District Donations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 20. School District Donations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 21 . Facilitation of Development. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 22. Enforceability of the Agreement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 23. Tenn of Agreement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 24. Binding Effect of Agreement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 25. Corporate Capacities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12 26. Notices. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 27. Default. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 28. Special Conditions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 STONE CREEK (the Schwennesen Property) Annexation Agreement Location Ma ...o r R 5 A R J "� R 5 ,. R P Sri R4 �f R9# p Ry R3 .� 91 PAR R d \ Leh: ,. � w ..(P.6 P w' ,cwa 4) M41 ' R 6 R A .uR.c•o o°"� R6 I _ I V i P (R 4) 0 R � g 85 ` .�\ _..._. 82 °I 1 -- R 9' e.. I �LL.LL� Subject Property 9/3/91 STONE CREEK (the Schwennesen Property) ANNEXATION AGREEMENT This agreement (hereinafter referred to as the "Agreement") made and entered into this 3rd day of September, 1991 , 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 The DeGrazia Company, Inc. , an Illinois corporation, (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 (hereinafter referred to as the "Property") comprising 27.47 acres legally described and identified in the Legal Description, which is attached hereto as EXHIBIT A, including Parcel A (20.86 acres) and Parcel B (6.61 acres) which exhibit is made a part hereof and which real estate is contiguous to the corporate limits of the Village; and, WHEREAS, a Plat of Annexation, including certain street right-of-way adjacent to the Property, is attached hereto as EXHIBIT B, which depicts a total area of 29.99 acres to be annexed; and, WHEREAS, Owner desires and proposes to annex Parcel A with zoning in the R-3 One-Family Dwelling District and Parcel B with zoning in the Office and Research (OAR) District. It is understood and agreed that this agreement does not approve a Preliminary Plan for any part of the Property, and any development of the Property shall be subject to Village approval pursuant to the provisions and regulations of the Village Zoning Ordinance, 1 Development Ordinance, and this Annexation Agreement including the requirement to obtain approval by the Village of a Preliminary Plan for any development of the Property; and, WHEREAS, pursuant to the provisions of Section 11-15.1 et, seq. , of the Illinois Municipal Code (Chapter 24, Illinois Revised Statutes 1989) and as the same may have been modified by the Village's Home Rule powers, a proposed Annexation 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, the Plan Commission of the Village has held a public hearing and made their recommendations with respect to the requested zoning classifications of the R-3 and O&R Districts; 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: 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 1989) and as the same may have been modified by the Village's Home Rule powers. The preceding whereas clauses are hereby made a part of this Agreement. 2. Agreement: Compliance and Validity. The Owner has filed with the Village Clerk of the Village a proper petition pursuant to and in accordance with provisions of Section 7-1-8 of the Illinois Municipal Code 2 (Chapter 24, Illinois Revised Statutes 1989) and as the same may have been modified by the Village's Home Rule powers, conditioned on the execution of this Agreement and the compliance with the terms and provisions contained herein, to annex 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 Property is validly annexed to the Village and is validly zoned and classified in the R-3 District (Parcel A) and OSR (Parcel B) , 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 Property to the Village. Said Annexation Ordinance shall be recorded with the Lace 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 Parcel A in the R-3 District and Parcel B in the OSR District subject to the restrictions further contained herein and all applicable ordinances of the Village of Buffalo Grove as amended from time to time. Development shall be further conditioned on the Village's approval of a Preliminary Plan for construction upon any portion of the Property. The Village acknowledges that it is the Owner's intent to develop a four acre site on Parcel B in the O&R District. Uses on this development site 3 shall be restricted to business and professional offices, medical and dental clinics, banks and financial institutions, and accessory retail and service facilities. A child care center would be reviewed by the Village as a special use pursuant to provisions of the Village Zoning Ordinance. Medical and health care uses requiring 24-hour per day hours of operation shall not be permitted. Owner shall be permitted to develop a maximum gross building floor area of 50,000 square feet on the four-acre OER site on Parcel B. Said maximum floor area may include a one-story bank of approximately 5,000 square feet or may be used entirely for office space. Accessory retail uses serving the office space shall occupy a maximum of five (5) percent of the gross floor area of said office space. Any office building constructed on the O&R site shall be limited to a height of two stories with the floor to ceiling height of the rentable office space not to exceed fourteen (14) feet. The maximum height of said office building shall not exceed thirty-six (36) feet unless a greater height is approved by the Village Board. It is understood and agreed that any building constructed on the O&R site shall be designed to be aesthetically and visually compatible with adjacent residential structures, and the Village will evaluate roof designs of any building proposed for the O&R site with the intention of achieving design compatibility with adjacent residential areas. It is understood and agreed that any approval of a Preliminary Plan for development of the O&R site is subject to Village approval. EXHIBITS D and E attached hereto are intended only to depict conceptual site planning and building design and are not meant to be construed as a Preliminary Plan or final site plan or final building design. 4 The Village reserves the right to impose conditions on development of the OSR site, including, but not limited to, the location of access driveways, and landscaping and tree preservation to screen adjacent properties. 5. Approval of Plats. The Corporate Authorities agree to approve a Final Plan of Development or plats or phases of the development of Property subsequent to approval of a Preliminary Plan or Plans and 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: (a) conform to the approved Preliminary Plan or plans, and (b) conform to the terms of this Agreement and all applicable Village Ordinances as amended from time to time; and (c) conform to the approved Development Improvement Agreement 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 of the development as shown on the approved Preliminary Plan or Plans. 6. Compliance with Applicable 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 ordinances, amendments, rules and regulations relating to 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 to the extent possible. 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. The Village agrees that no ordinance amendment shall 5 prohibit development of a bank on the Property for a period of ten (10) years from the date of this Agreement. 7. Amendment of Plan. If the Owner desires to make changes to the Preliminary Plan subsequent to approval of same Plan, 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 the Preliminary Plan. 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 final consideration of any change in the Preliminary Plan. 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 (20) the total ground area covered by buildings. 8. Building 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 matter 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 property within the Village. 6 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. Said points shall be identified on the Preliminary Engineering Plan when it is submitted for Village review and approval. It is understood, however, that changes to the Preliminary Engineering Plan may be required at the time of Final Engineering. 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 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. 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 Plan. Watermains serving the Property 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. 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 and to the Illinois Department of Transportation as may be appropriate. The Owner shall construct on-site and off-site sanitary sewers as may be necessary to service the Property. Said sewers shall be identified on the Preliminary Engineering Plan when it 7 is submitted for Village review and approval. It is understood, however, that changes to the Preliminary Engineering Plan may be required at the time of Final Engineering. Upon installation and acceptance by the Village through formal acceptance action 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. Said sewers shall be identified on the Preliminary Engineering Plan when it is submitted for Village review and approval. It is understood, however, that changes to the Preliminary Engineering Plan may be required at the time of Final Engineering . 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, 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 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 opinion of the Village Engineer, be detrimental to the growth and maintenance of lawn grasses. 8 12. Payment of Recapture Fees Owed. At the time of final platting of any portion of the Property, Owner shall pay to the Village the amount of principal due and payable for watermains as set forth in Ordinance 84-69. 13. Security for Public and Private Site Improvements. Security for public and private site improvements shall be provided in accordance with the Development Ordinance, and the Development Improvement Agreement 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 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. 14. Exhibits. The following EXHIBITS, some of which were presented in testimony given by the Owner or the witnesses during the hearings 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 Legal Description EXHIBIT B Plat of Annexation dated August 12, 1991 by Hagensee Surveying Group, Ltd. EXHIBIT C Plat of Survey delineating R-3 and O&R zoning districts dated July 30, 1991 by the Hagensee Surveying Group, Ltd. EXHIBIT D Sketch plan of proposed bank and office 9 development dated August 14, 1991 by Otis Associates, Inc. EXHIBIT E Elevation of proposed two-story office building dated August 14, 1991 by Otis Associates, Inc. 15. Annexation Fee. In the event that Parcel A is used for residential development, Owner shall construct full improvements to Buffalo Grove Road as specified by the Village adjoining the Property. Owner agrees to pay an annexation fee of $400.00 for each residence constructed on the Property. Owner agrees to pay an annexation fee of $800.00 per acre for the four-acre site designated for development of a bank and office building. Said fees shall be payable prorata at issuance of building permits. However, these fees shall be paid in full prior to the expiration of this Agreement. 16. Building,_, Landscaping and Aesthetics Plans. Owner will submit building and landscaping plans (which landscaping plans shall conform to the requirements of Village ordinances) for approval by the Appearance Commission and the Corporate Authorities before commencing construction of buildings. Lighting and signage shall be compatible with surrounding areas. Phases not under construction or completed shall be maintained in a neat and orderly fashion as determined by the Village Manager It is understood and agreed that the proposed bank and office building on the O&R zoning parcel shall be designed to be aesthetically compatible with adjacent residential areas as conceptually depicted on EXHIBIT E, and impacts such as noise, parking lot light spillover, and vehicle headlight glare shall be addressed in the design of the buildings and landscaping plan to ensure that adjacent properties are adequately protected. It is understood and agreed that development of aesthetically attractive streetscapes along Route 83 and Buffalo Grove Road on the Property is a major planning goal of the Village. The landscaping plans for development or use of any part of the Property shall address street aesthetics with 10 appropriate design features such as berming, tree preservation, and careful selection of plant materials. 17. Project Models. The Village agrees to permit the Owner to construct and maintain one (1 ) model area on the Property, consisting of a maximum of four (4) buildings for each of the model areas, together with suitable off-street parking areas, 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 Owner 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 completed. 18. Right-of-Way Dedication. The Owner acknowledges that it is the intention of the Village and other involved agencies that at some time in the future Illinois Route 83 and Buffalo Grove Road will be widened adjacent to the Property. Owner agrees to dedicate land as needed to achieve a right-of-way of fifty-one (51 ) feet from centerline along the east side of Illinois Route 83, and grading easements as required by the Village Engineer shall be provided. Owner agrees to dedicate right-of-way and grading easements as required by the Village Engineer to effect planned improvements to Buffalo Grove Road. Said land dedications and grading easements along Route 83 and Buffalo Grove Road shall be made within ninety (90) days of the date of this Agreement. 19. Park District Donations. Owner agrees to comply with the provisions of Title 19 of the Buffalo Grove Municipal Code as amended from time to time regarding park donations. 20. School District Donations. Owner agrees to comply with the provisions of Title 19 of the Buffalo Grove Municipal Code as amended from time to time regarding school donations. 11 21 . 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 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 requirements, its willingness to discuss any matters of mutual interest that may arise, and its 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. 22. Enforceability of the Agreement. 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. 23. Term of Agreement. This Agreement will be binding on all parties and the Property for a term of twenty (20), 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. 24. Binding Effect of Agreement. This Agreement shall be binding upon the Property, the parties hereto, and their respective successors and assigns. 12 25. 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. 26. 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 business day following deposit in the U.S. Mail. If to Owner: Jerry DeGrazia The DeGrazia Company 2215 York Road, Suite 208 Oak Brook, IL 60521 Copy to: David L. Shaw, Esq. Shaw, Shoub and Gussis, Ltd. 318 W. Randolph Street, Suite 500 Chicago, IL 60606 If to Village: Village Clerk Village of Buffalo Grove 50 Raupp Boulevard Buffalo Grove, IL 60089 Copy to: William G. Raysa, Esq. Bloche', French 8 Raysa 1140 Lake Street, Suite 400 Oak Park, IL 60301 27. Default. In the event Owner or Developer defaults in his performance of his objectives set forth in this Agreement, then the Village, may, upon notice to Owner allow Owner sixty (60) days to cure 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 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 13 or at the option of the Village, to rezone such Property to the R-E District zoning classification. 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-E District zoning classification. 28. Special Conditions. A. Any development of the Property is subject to Village approval, and no development shall occur until Preliminary Plans and Final Plats have been approved by the Village. B. Owner shall be permitted to construct one (1 ) access driveway to Buffalo Grove Road and one (1 ) access driveway to Route 83 to serve the four-acre development site of Parcel B of the Property. The locations of said driveways are subject to Village review and approval, and said review shall occur when Owner submits Preliminary Plans in accordance with Village ordinances requesting review and approval by the Village. Owner agrees that site plans for access to the Property will in no way inhibit or detrimentally affect the Village's planning for the possible connection of Farrington Drive to Illinois Route 83. The driveway to Route 83 serving the four-acre development site of Parcel B may be a full access driveway if the Illinois Department of Transportation and the Village determine that said driveway meets pertinent design standards and will not detrimentally affect the movement of traffic on Route 83. The locations of access driveways to Route 83 and Buffalo Grove Road for any portion of the Property other than the four-acre development site of Parcel B are subject to Village review and approval, and said review shall occur when Preliminary Plans in accordance with Village ordinances are submitted to the Village. 14 The Village shall not require Owner to participate in the funding of a traffic signal on Route 83 adjacent to the four-acre development site of Parcel B. C. Owner agrees to construct all improvements necessary to complete Buffalo Grove Road adjacent to the Property as planned by the Village. Said improvements shall include two travel lanes, a median including a turn lane, and improvements to the intersection of Buffalo Grove Road and Route 83, for the segment of Buffalo Grove Road adjoining the four-acre development site of Parcel B as identified in EXHIBITS A and C attached hereto. Owner's obligations for construction of Buffalo Grove Road shall include earthwork for the full ultimate improvement adjacent to the Property and adjacent to the existing pavement north of Parcel A extending to Hidden Lake Drive; Owner's financial obligation for said earthwork shall not exceed $34,000.00. Owner also agrees to construct, but not pay for, the extension of a one-lane improvement to Buffalo Grove Road from the north edge of the four-acre development site of Parcel B to the existing pavement north of Parcel A extending to Hidden Lake Drive. D. Owner is responsible for improvements along Route 83 adjacent to the four-acre development site of Parcel B, including streetlights, landscaping, and sidewalks as required by the Illinois Department of Transportation (IDOT) and the Village. If Owner desires driveway access to Route 83 for the proposed bank and office building on Parcel B, a left turn lane shall be provided by the Owner on Route 83, with the design and location of said turn lanes and driveway being subject to Village and IDOT approval. E. Owner acknowledges that it is the Village's intention that an eight-foot wide bikepath be constructed north of the proposed four-acre development site on Parcel B to connect to sidewalks along Buffalo Grove 15 Road and Route 83. The Owner shall cooperate with the Village in implementation of this bikepath by granting easements as necessary to accommodate said bikepath. F. Owner shall pay a fire protection impact fee of $0.75 per square foot of building area for the proposed bank, office building, or other buildings on Parcel B. Said fee shall be paid at the time of issuance of building permits. G. All reasonable efforts shall be made to preserve trees and plant materials on the Property. Trees on the Property shall not be removed until the Village Forester has reviewed a complete tree inventory and map depicting the location of said trees. Any development plan for the Property shall include a tree preservation plan for the site to be developed, and the Village Forester's recommendations concerning said preservation plan shall be reviewed by the Village Plan Commission and Appearance Commission prior to Village approval of any development plan. Owner shall allow the Village to remove excess trees from the Property in a timely manner if the Village determines that said trees are suitable for acceptance. H. The Property shall be subject to a library donation of a cash contribution equivalent to 1 .8 books per person generated from any residential unit developed on the Property, at a value of twelve ($12.00) per book. I. Owner agrees that the 2.6-acre tract of Parcel B north of the four-acre development site shall not be constructed on, except for public buildings or structures. J. Owner agrees that if Parcel A is purchased in whole or in part by the Buffalo Grove Park District, the zoning of said Parcel A shall 16 automatically revert from the R-3 zoning district to the Residential Estate (R-E) zoning district of the Village's Zoning Ordinance. IN WITNESS WHEREOF, the Corporate Authorities and Owner have caused this instrument to be executed by their respective proper officials duly authorized to execute the same on the date and the year first above written. VILLAGE OF BUFFALO ROVE ATTEST: 4 l OWNER The DeGrazia Company, Inc. By ATTEST: UiG� —�✓�SI�Qµ.7' 17 EXHIBIT A STONE CREEK (the Schwennesen Property) Annexation Agreement LEGAL DESCRIPTION PARCEL A - R-3 Zoning THAT PART OF THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION 32 , TOWNSHIP 43 NORTH , RANGE 11 , EAST OF THE THIRD PRINCIPAL MERIDIAN DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHEAST CORNER OF THE NORTHEAST QUARTER OF SAID SECTION -72; THENCE NORTH ALONG THE EAST LINE OF THE NORTHEAST QUARTER OF SAID SECTION 32 , A DISTANCE OF 1929.56 FEET FOR A PLACE OF BEGINNING; THENCE NORTH B9a55e 03ItWEST, A DISTANCE OF 225.00 FEET; THENCE SOUTH 35*04' S7'1 WEST, A DISTANCE OF 270.00 FEET; THENCE SOUTH 60029'5SI'WEST , A DISTANCE OF 196.81 FEET TO A POINT ON THE EASTERLY RIGHT OF WAY LINE OF RT. 83; THENCE NORTH 4'0` 12` 31"WEST ALONG SAID EASTERLY RIGHT OF WAY LINE , A DISTANCE OF 1192.30 FEET TO A POINT ON THE WEST LINE OF THE EAST HALF OF THE NORTHEAST QUARTER OF SAID SECTION 32; THENCE NORTH 00005* 29""'AST ALONG SAID WEST LINE , A DISTANCE. OF 125.26 FEET TO A POINT ON THE NORTH LINE OF SAID NORTHEAST QUARTER OF SECTION 32; THENCE NORTH 89"56' 30"EAST ALONG SAID NORTH LINE, A DISTANCE OF 1322 .02 FEET TO THE EAST LINE OF SAID NORTHEAST QUARTER OF SECTION 32; THENCE SOUTH 00"041 57"WEST ALONG SAID EAST LINE , A DISTANCE OF 720.61 FEET TO THE PLACE OF BEGINNING , IN LAKE COUNTY ,. ILLINOIS. PARCEL B - O&R Zonin THAT PART OF THE EAST HALF OF THE NORTHEAST QUARTER OF SECTION 32 , TOWNSHIP 43 NORTH, RANGE 11 , EAST OF THE THIRD PRINCIPAL MERIDIAN , ALSO PART OF THE SOUTHWEST QUARTER OF THE NORTHWEST QUARTER OF SECTION 33 DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF THE NORTHWEST QUARTER, OF SAID SECTION 33; THENCE NORTH ALONG THE WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 33 , A DISTANCE OF 1264.56 FEET FOR THE PLACE OF BEGINNING; THENCE SOUTH 9'0 10' 18" EAST, A DISTANCE OF 312. 19 FEET TO A POINT ON A NONTANGENT CURVE; THENCE NORTHWESTERLY ALONG A CURVE CONCAVE TO THE NORTHEAST HAVING A RADIUS OF 2815.00 FEET AND A CHORD BEARING OF NORTH 44 3' 05' 36" WEST , A DISTANCE OF a61 .72 FEET TO A POINT OF TANGENCY; THENCE NORTH 400 12 ' 31 " , A DISTANCE OF 362.G9 FEET; THENCE NORTH 490 47' 29" EAST , A DISTANCE OF 10.68 FEET; THENCE NORTH 40c' 12' 31 " WEST , A DISTANCE OF 65.00 FEET; THENCE SOUTH 49' 47' 29" WEST , A DISTANCE OF 20.00 FEET; THENCE NORTH 401 12' 31 " WEST , A DISTANCE OF 80.00 FEET; THENCE..600 29' S5" EAST , A DISTANCE OF 196.81 FEET, THENCE NORTH 35° 04' 57" EAST, A DISTANCE OF 270.00 FEET; THENCE 690 55' 03" EAST, A DISTANCE OF 225.00 FEET TO THE WEST LINE OF THE NORTHWEST QUARTER OF SAID SECTION 33; THENCE SOUTH 00" 04' 57" WEST ALONG SAID WEST LINE , A DISTANCE OF 665.00 FEET TO THE PLACE OF BEGINNING , IN LAKE COUNTY, ILLINOIS. VILLAGE OF BUFFALO GROVE ORDINANCE NO. — ADOPTED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF BUFFALO GRO THI��DAY OF 19 W. Published in pamphlet form by authority of the President and Board of Trustees of the Village of Buffalo G ove, Cook &Aakp Counties, I linois, this � ay of 19 . M. illage CI erk By LA3 r Deputy Villag Clerk