2022-07-18 - Ordinance 2022-075 - AUTHORIZING A DEVELOPMENT IMPROVEMENT AGREEMENT WITH IMKD 5 LLC (KENSINGTON DEVELOPMENT PARTNERS) (The Clove) ORDINANCE NO. 2022-075
AN ORDINANCE AUTHORIZING A DEVELOPMENT IMPROVEMENT AGREEMENT WITH IMKD 5 LLC
(KENSINGTON DEVELOPMENT PARTNERS)
WHEREAS, the Village of Buffalo Grove is a home rule unit pursuant to the Illinois Constitution of
1970; and
WHEREAS, the Village seeks to enter into a Development Improvement Agreement (DIA) with
IMKD 5 LLC ("Retail Developer") and BGA Residential, LLC ("Residential Developer) for site improvements
associated with The Clove (Town Center) development at 100 McHenry Road,
NOW THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS, as follows:
SECTION 1. The foregoing recitals are hereby adopted and incorporated and made a part of this Ordinance
as if fully set forth herein.
SECTION 2. The Development Improvement Agreement is approved subject to review and approval by
the Village Attorney.
SECTION 3. If any section, paragraph, clause or provision of this Ordinance shall be held invalid, the
invalidity thereof shall not affect any other provision of this Ordinance.
SECTION 4. This Ordinance shall be in full force and effect from and after its passage and approval and
shall not be codified.
AYES: 5—Stein,Weidenfeld,Johnson,Smith, Pike
NAYES: 0—None
ABSENT: 1—Ottenheimer
PASSED: July 18, 2022
APPROVED: July 18, 2022
APPROVED:
Beverly Sussm ,Village President
ATTEST:
� . &
JanetEr
an,Village Clerk
4893-2398-6725.14
1
The Clove
DEVELOPMENT IMPROVEMENT AGREEMENT
THIS DEVELOPMENT IMPROVEMENT AGREEMENT (this “Agreement”), made and
entered into as of this __ day of August, 2022 by and between the VILLAGE OF BUFFALO GROVE,
an Illinois Municipal Corporation, and having its office at Village Hall, 50 Raupp Boulevard, Buffalo
Grove, Illinois (hereinafter called "Village"), IMKD 5 LLC, a Delaware limited liability company
(hereinafter called "Retail Developer”) and BGA RESIDENTIAL, LLC, a Delaware limited liability
company (hereinafter called “Residential Developer” which, together with Retail Developer, is
collectively the “Developers” and each a “Developer”).
WITNESSETH:
WHEREAS, Developers desire to acquire and improve the real property described in Exhibit “A”
attached hereto and made a part hereof (the “Property”), in compliance with the RDA (hereinafter defined)
and the Village's Development Ordinance (the “Development Ordinance”) as modified hereby.
Developers have submitted to the Village certain site plans prepared by V3 Companies, who are registered
professional engineers (the “Site Plan”), which Site Plan was approved by the Village pursuant to
Ordinance No. 2022-063 and certain additional plans and specifications prepared by V3 Companies dated
6/30/22 and described in more detail in Exhibit “C” attached hereto and made a part hereof (the “Site
Improvement Plans” which, together with the Site Plan, is collectively, the “Plans”); and
WHEREAS, the Village is willing to approve said Plans, provided that this Agreement is executed
to insure the completion of certain site improvements, which execution is a condition precedent to the
issuance of building permits for any buildings to be constructed on the Property.
NOW, THEREFORE, it is mutually agreed as follows:
1. Upon Developers’ acquisition of the Property and receipt of all necessary permits ,
Developers shall furnish, or cause to be furnished, at their own cost and expense, all the necessary material,
labor, and equipment to complete the improvements listed on Exhibit "B" attached hereto, and all other
site improvements not specifically set forth which are required by applicable ordinances or agreements
(collectively, the “Site Improvements”), all in a good and workmanlike manner and in accordance with all
pertinent ordinances and regulations of the Village and in accordance with the Site Plan and Site
Improvement Plans (including any subsequent revisions jointly requested by the Developers and approved
in writing by the Village pursuant to the Village's Development Ordinance). All utility lines and services
to be installed in the street shall be installed prior to paving. It is expressly understood and agreed that
Developers are jointly responsible to complete the improvements listed on Exhibit B and as otherwise
required by this paragraph.
2. Attached hereto as Exhibit “D” is a complete cost estimate for the construction of the
improvements described in Exhibit “B” hereto. No later than three (3) business days following the later of
(i) execution of this Agreement, (ii) execution of the RDA, or (iii) Developers’ acquisition of the Property,
or (iv) a week prior to the issuance of Village Permits, the Retail Developer shall deposit a Letter of Credit
acceptable to and in a form and substance approved by the Village in accordance with the Development
Ordinance in the original amount of One Million Nine Hundred Ninety-Four Thousand Eight Hundred
Seventeen Dollars ($1,994,817.00), as further described in Paragraph 9 herein (the “Retail Letter of
Credit”). No later than September 30, 2022, the Residential Developer shall deposit a Letter of Credit
3rd
4893-2398-6725
acceptable to and in a form and substance approved by the Village in accordance with the Development
Ordinance in the original amount of One Million Nine Hundred Ninety-Four Thousand Eight Hundred
Seventeen Dollars ($1,994,817.00), as further described in Paragraph 9 herein (the “Residential Letter of
Credit” which, together with the Retail Letter of Credit is collectively the “Letters of Credit”, and each a
“Letter of Credit”).
3. All work shall be subject to inspection by and the approval of the Village Engineer. It is
agreed that the contractors who are engaged to construct the Improvements are to be approved by the
Village Engineer and that such approval will not be unreasonably withheld.
4. Each of the Developers has paid or will pay the Village a Review and Inspection Fee, as
required by Ordinance. It is understood that said fees are based on of the amount of the contracts or cost
estimate for those items in Exhibit “B.”
5. Prior to the time a Developer or any of its contractors begin any of the work provided for
herein, such Developer, and/or its contractors shall furnish the Village with evidence of insurance covering
such contractor’s employees in such amounts and coverage as is acceptable to the Village. The insurance
listed on Exhibit E attached hereto is deemed acceptable to the Village. Nothing herein shall waive any
immunities the Village may assert in response to or defense of any such claim.
In addition, by its execution of this Agreement, each Developer agrees to protect, indemnify, save
and hold harmless, and defend the Village and its employees, officials, and agents, against any and all
claims, costs, causes, actions, and expenses, including but not limited to reasonable attorney's fees incurred
by reason of a lawsuit or claim for damages or compensation arising in favor of any person, corporation or
other entity, including the employees or officers or independent contractors or sub-contractors of such
Developer or the Village, on account of personal injuries or death, or damages to property occurring,
growing out of, incident to, or resulting directly or indirectly, from the performance of the Site Improvement
work of such Developer, independent contractors or sub-contractors of such Developer or their officers,
agents, or employees, except as provided in the following two sentences. The Developers shall have no
liability or damages for the costs incident thereto to the extent caused by the sole negligence or intentional
misconduct of the Village, its independent contractors or sub-contractors or their officers, agents, or
employees.
6. Subject to Force Majeure (as defined herein), Developers shall cause the Site
Improvements to be completed within the later of (i) twenty-four (24) months following the date of this
Agreement (except any improvements for which specified time limits are noted on the Plans, which shall
be completed within the specified time limits shown on the Plans, subject to Force Majeure), or (ii) the time
period required for Substantial Completion-Retail under that certain Redevelopment Agreement between
the Village and Developers (the “RDA”), or (iii) the time period required for Substantial Completion-
Residential under the RDA.. “Force Majeure” as used herein shall mean a delay in a Developer’s
performance hereunder caused by an Uncontrollable Circumstance as defined in the RDA, or any other
cause of any kind beyond the reasonable control of such Developer. If the Site Improvements are not
completed within the time prescribed herein, as the same may be extended pursuant to Force Majeure, the
Village shall have the right to draw on the Letters of Credit for the purpose of paying for all costs required
to complete the Site Improvements (the “Completion Cost”); provided, however, (i) the Village agrees that
with respect to any such draw, it will only draw on each Letter of Credit in the amount of fifty percent
(50%) of the Completion Costs, and (ii) nothing herein will limit or modify any separate agreement or
allocation between the Developers with respect to Site Improvement costs. Upon completion of the Site
Improvements herein provided for, as evidenced by a Certificate of Substantial Completion (as defined and
provided for in the RDA) or a certificate of completion executed by or for the Village Manager, Village
President or Board of Trustees, the Village shall be deemed to have accepted said Site Improvements, and
4893-2398-6725
thereupon, the Retail Letter of Credit and the Residential Letter of Credit shall automatically be reduced to
serve as security for the obligations of the Developers as set forth in Paragraph 7 hereof. The Developers
shall cause their consulting engineers to correct drawings to show work as actually constructed and said
engineers shall turn over high quality Mylar reproducible copies thereof to the Village to become the
Village's property prior to acceptance of the improvements.
7. The Developers, for a period of one year beyond formal acceptance by the Village of any
Site Improvement described in Exhibit “B” hereof, shall be jointly responsible for maintenance, repairs and
corrections to such improvements which may be required due to failures or on account of faulty construction
or due to the Developers’ negligence and/or their contractors’ negligence (collectively, the “Defects”),
provided that, without limiting the Village right to draw on a Letters of Credit for 100% of the cost to
correct Defects, the Village agrees that with respect to any such draw, it will only draw on each Letter of
Credit in the amount of fifty percent (50%) of the cost to correct such Defects . The obligation of the
Developers under this Paragraph 7 shall be secured by the Letters of Credit as further described in Paragraph
9 hereof.
8. In general, no occupancy permit shall be granted by any official for the construction of any
structure until all required utility facilities set forth in the Plans (to include, but not by way of limitation,
sanitary sewer, water and storm sewer systems) have been installed and made ready to service said structure;
and that all parking lots or access drives (to include curbs) set forth in the Plans that provide access to said
structure have been completely constructed, except for the designed surface course. It is understood and
agreed that building and occupancy permits will be granted for buildings on specific lots to which utility
facilities have been installed and made ready for service and to which parking lots or access drives have
been constructed as described above, notwithstanding the fact that all Improvements within the
Development may not be completed.
9. A. The obligations of the Retail Developer hereunder as to the deposit of security for
the completion of Improvements and the one (1) year maintenance of said Improvements after acceptance
by the Village (Paragraph 7) shall be satisfied upon delivery to the Village of the Retail Letter of Credit in
favor of the Village in a form acceptable to the Village in accordance with this Agreement, in the amount
set forth in Paragraph 2 above. The Retail Letter of Credit shall be made subject to this Agreement. The
obligations of the Residential Developer hereunder as to the deposit of security for the completion of the
Improvements and the one (1) year maintenance of said Improvements after acceptance by the Village
(Paragraph 7) shall be satisfied upon delivery to the Village of the Residential Letter of Credit in favor of
the Village in a form acceptable to the Village in accordance with this Agreement, in the amount set forth
in Paragraph 2 above. The Residential Letter of Credit shall be made subject to this Agreement. The
Developers hereby waive the option pursuant to 30 ILCS 550/3 and 65 ILCS 5/11-39-3 to utilize any type
of security other than a letter of credit.
B. In addition to the terms, conditions, and covenants of the Retail Letter of Credit, the Village
hereby agrees to draw funds or to call said performance guarantee under such security solely for the purpose
of payment for labor and materials supplied or to be supplied, by engineers, contractors, or subcontractors,
to, or for the benefit of the Retail Developer or the Village, as the case may be, under the provisions of this
Agreement and the Site Improvements for which payment is being made shall have been completed, or will
be completed, in substantial accordance with the Site Plan and the Site Improvement Plans or following
correction of Defects. In addition to the terms, conditions, and covenants of the Residential Letter of Credit,
the Village hereby agrees to draw funds or to call said performance guarantee under such security solely
for the purpose of payment for labor and materials supplied or to be supplied, by engineers, contractors, or
subcontractors, to, or for the benefit of the Residential Developer or the Village, as the case may be, under
the provisions of this Agreement and the said Improvements for which payment is being made shall have
been completed, or will be completed, in substantial accordance with the Site Plan and the Site Improvement
4893-2398-6725
Plans or following correction of Defects. The foregoing notwithstanding, each of the Developers shall be
responsible for only fifty percent (50%) of the foregoing obligations in this paragraph and accordingly
draws under each Letter of Credit shall be limited to fifty percent (50%) of the total Completion Costs or
total cost to correct Defects, as the case may be.
C. The Village further hereby agrees that to the extent that Developers cause their
commitments of this Agreement to be completed, the outstanding liability of the issuer of each Letter of
Credit shall during the course of construction of the Improvements be reduced on a monthly basis to
approximate fifty percent (50%) of the cost of completing the improvements and paying unpaid co ntract
balances for the completion of the improvements referred to in this Agreement.
Until all tests required by the Development Ordinance have been submitted and approved by the
Village for each of the construction elements including, but not limited to, earthwork, street pavements,
parking area pavements, sanitary sewers and water mains (as applicable), a minimum of that portion of the
surety for each element shall be subject to complete retention. Each of the Retail Letter of Credit and the
Residential Letter of Credit is subject to a minimum fifteen (15%) percent retention until final acceptance
by the Village of the Site Improvements.
D. In order to guarantee and warranty Retail Developer’s obligations of Paragraph 7 herein,
an amount equal to the lesser of fifteen (15%) percent of the total amount of the Retail Letter of Credit, or
fifteen (15%) percent of fifty percent (50%) of the cost estimate of the individual improvement(s) shall be
retained in the Retail Letter of Credit for a period of one-year beyond formal acceptance by the Village of
such improvement(s). In order to guarantee and warranty Residential Developer’s obligations of Paragraph
7 herein, an amount equal to fifteen (15%) percent of the total amount of the Residential Letter of Credit,
or an amount equal to fifteen (15%) percent of fifty percent of the cost estimate of the individual
improvement(s) shall be retained in the Residential Letter of Credit for a period of one-year beyond formal
acceptance by the Village of such improvement(s).
E. As a portion of the security amount specified in Paragraph 2, the Developers shall maintain
a cash deposit with the Village Clerk in the amount of Forty Thousand Three Hundred Dollars ($40,300.00),
with each Developer responsible for the deposit of fifty percent (50%) thereof. The cash deposit must be
on deposit with the Village Clerk prior to the Developers’ completion of the site demolition and grading
work portions of the Site Improvements. If roads are not maintained with a smooth and firm surface
reasonably adequate for access of emergency vehicles such as fire trucks and ambulances, or if any
condition develops which is deemed a danger to public health or safety by the Village of Buffalo Grove
due to the actions of one of the Developers or its failure to act; and after written notice of this condition,
such Developer fails to remedy the condition as soon as reasonably practicable; then the Village may take
action to remedy the situation and charge any expenses which results from the action to remedy the situation
to such Developer’s cash deposit. Upon notification that the cash deposit has been drawn upon, such
Developer shall immediately deposit sufficient funds to maintain the deposit in the amount specified above
in this Paragraph 9.E. If such Developer has not made the additional deposit required to maintain the total
cash deposit within three (3) days from the date it received notice that such additional deposit was required,
it is agreed that the Village may issue a Stop Work Order as to such Developer’s work, or also may revoke
all permits which such Developer had been granted. This cash deposit shall continue to be maintained until
the maintenance guarantee period has lapsed. The deposit may be drawn upon by the Village if the
conditions of this Agreement are not met by such Developer within five (5) days after receipt of a written
notice of noncompliance with the conditions of this Agreement, except in cases of danger to public health
and safety as determined by the Village, in which case, the deposit may be drawn upon immediately
following notice to the Developer and his failure to immediately remedy the situation. After termination
of the one-year maintenance period and upon receipt by the Village Clerk of a written request for rel ease
of the deposit, the Village will either notify the Developer that its Improvements are not in a proper
4893-2398-6725
condition for final release of the deposit, or shall release the deposit within fifteen (15) days.
F. In addition to the terms, covenants, and conditions of a Letter of Credit, the Developers
hereby agree that no reduction shall occur in the outstanding liability of the issuer there under, except on
the written approval of the Village; however, in all events, the Village shall permit such Letter of Credit to
expire, either by its terms, or by return of such Letter of Credit to the applicable Developer, upon the
expiration of one (1) year from the acceptance of the improvements to which such Letter of Credit applies.
To the extent that the provisions of Paragraph 9 herein, and of the Letter of Credit, permit the Village to
draw funds under such Letter of Credit, the Village hereby agrees to reduce the outstanding liability of the
issuer of the Letter of Credit monthly to the extent that funds are disbursed.
10. Any Letter of Credit shall provide that the issuer thereof shall not cancel or otherwise
terminate said security without a written notice being given to the Village between thirty (30) days and
forty-five (45) days in advance of termination or cancellation.
11. No occupancy permit for a building shall be issued until all exterior lighting pertaining to
such building and specified on Exhibit "C" is installed and operational.
12. Each Developer acknowledges that it is responsible for the proper control of weeds, grass,
refuse, and junk on all property which it owns within the Property in accordance with Chapter 8.32 of the
Buffalo Grove Municipal Code. It is further agreed that a Developer shall continue to be responsible for the
proper maintenance of any parcels of property for which such Developer transfers ownership to the Village
until such time as the Improvements are accepted by the Village in writing in accordance with the provisions
of this Agreement.
If a Developer fails to perform his maintenance responsibilities established in either this paragraph
or Chapter 8.32, the Village may provide a written notice to such Developer of the improper maintenance
condition. If proper maintenance is not completed within ten (10) days after such Deve loper is provided
this notice, the Village may perform the maintenance and deduct the costs of the maintenance from the cash
deposit of such Developer described in Paragraph 9.E.
13. The Developers agree that no improvements constructed in conjunction wit h this project
are sized or located in such a way as to warrant any recapture payment to either Developer pursuant to any
applicable previous agreements.
14. This Agreement shall automatically terminate and be of no further force and effect with
respect to a Developer and its portion of the Property upon the expiration of the one year maintenance
period, and upon such termination the parties hereto shall have no further obligations to the other, except
for the Village’s obligation to return such Developer’s Letter of Credit and cash deposit to such Developer
or otherwise notify the issuer of such Letter of Credit of the expiration of the Letter of Credit.
15. This Agreement and the obligations contained herein are in addition to, and not in
limitation of, all other agreements between the Parties hereto including, without limitation, the RDA and
the Preliminary Plan Approval Ordinance No. dated June 20, 2022, and the obligations contained therein.
16. No party shall cause this Agreement (or any memorandum hereof) to be recorded against
the Property.
17. Nor party shall assign this Agreement or any of its terms without the prior, express and
written consent of the other party. Furthermore, no assignment of a Developer’s obligations shall be
effective unless and until the Village approves the language of any proposed assignment and substitute
4893-2398-6725
security in the amounts required by this Agreement. The foregoing notwithstanding, this Agreement shall
be binding on and inure to the benefit of the Developers’ respective successors and any assigns made in
connection with equity or loan requirements.
18. If any notice is sent to a Party under this Agreement, the sender of the notice shall send a
copy of the notice to the other Party hereunder at the same time.
19. Each Developer shall have the right but not the obligation to cure any failure by the other
Developer to perform as required hereunder.
[Remainder of page left intentionally blank; signature page to follow]
IN WITNESS WHEREOF, the Village has caused this Agreement to be executed, as have the
Developers, all as of the date first above written.
Village:
Retail Developer:
Residential Developer:
4893 -2398-6725 . I 3
VILLAGE OF BUFFALO GROVE,
an Illinois Municipal Corporation
By:. ________ _
Village President
IMKDSLLC,
a Delaware limited liability company
By : ________ _
Name : ________ _
Title: _________ _
Address: 700 Commerce Drive, Suite 130
Oak Brook, IL 60523
BGA RESIDENTIAL, LLC,
a Delaware limited liability company By r
~i~l::e~j ~~
Address: 2250 Progress Parkway
Schaumburg, IL 60173
7
4893-2398-6725.14
Exhibit A
Page 1
The Clove
DEVELOPMENT IMPROVEMENT AGREEMENT
EXHIBIT A
Legal Description of the Property
PARCEL 1:
LOT 3 IN BUFFALO GROVE TOWN CENTER UNIT 6, BEING A RESUBDIVISION OF LOTS 1 AND
3 IN BUFFALO GROVE TOWN CENTER UNIT 5 AND PART OF THE SOUTHWEST QUARTER OF
SECTION 33, TOWNSHIP 43 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN,
ACCORDING TO THE PLAT OF SAID BUFFALO GROVE TOWN CENTER UNIT 6, RECORDED
OCTOBER 21, 1993 AS DOCUMENT 3419308, IN LAKE COUNTY, ILLINOIS.
PARCEL 2:
LOTS 1 AND 3 IN BUFFALO GROVE TOWN CENTER UNIT 8, BEING A RESUBDIVISION OF LOT
2 IN BUFFALO GROVE TOWN CENTER UNIT 5, IN THE SOUTHWEST QUARTER OF SECTION
33, TOWNSHIP 43 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL MERIDIAN,
ACCORDING TO THE PLAT OF SAID BUFFALO GROVE TOWN CENTER UNIT 8, RECORDED
JULY 24, 1998 AS DOCUMENT 4173676, IN LAKE COUNTY, ILLINOIS.
PARCEL 2A:
RECIPROCAL EASEMENTS FOR THE BENEFIT OF PARCEL 2 AS CONTAINED IN AGREEMENT
DATED JULY 28, 1998 AND RECORDED JULY 29, 1998 AS DOCUMENT 4176874 BY BUFFALO
GROVE JOINT VENTURE AND EAGLE FOOD CENTERS, INC.
PARCEL 3:
LOT 1 IN BUFFALO GROVE TOWN CENTER UNIT 9, BEING A RESUBDIVISION OF LOTS 1 AND
2 IN BUFFALO GROVE TOWN CENTER UNIT 7, IN SECTION 33, TOWNSHIP 43 NORTH, RANGE
11 EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT OF SAID BUFFALO
GROVE CENTER UNIT 9, RECORDED OCTOBER 6, 1999 AS DOCUMENT 4431048, IN LAKE
COUNTY, ILLINOIS.
EXCEPTING THAT PART OF LOT 1 TAKEN IN CASE 16ED9 ORDER RECORDED AS
DOCUMENT 7487965 DESCRIBED AS FOLLOWS:
COMMENCING AT THE MOST EASTERLY CORNER OF SAID LOT 1; THENCE
NORTHWESTERLY 19.12 FEET (19.17 FEET, RECORDED) ALONG THE EASTERLY LINE OF
SAID LOT 1 ON A CURVE TO THE RIGHT HAVING A RADIUS OF 1497.69 FEET, THE CHORD
OF SAID CURVE BEARS ON AN ILLINOIS COORDINATE SYSTEM NAD 83 (2007) EAST ZONE
BEARING OF NORTH 9 DEGREES 38 MINUTES 39 SECONDS WEST, 19.12 FEET TO A POINT OF
TANGENCY ON SAID EASTERLY LINE; THENCE NORTH 9 DEGREES 16 MINUTES 42
SECONDS WEST ALONG THE EASTERLY LINE OF SAID LOT 1, A DISTANCE OF 295.83 FEET
TO THE POINT OF BEGINNING; THENCE SOUTH 80 DEGREES 43 MINUTES 31 SECONDS
WEST, A DISTANCE OF 11.00 FEET; THENCE NORTH 9 DEGREES 16 MINUTES 29 SECONDS
WEST, A DISTANCE OF 125.00 FEET; THENCE NORTH 80 DEGREES 43 MINUTES 31 SECONDS
EAST, A DISTANCE OF 5.00 FEET; THENCE NORTH 9 DEGREES 16 MINUTES 29 SECONDS
WEST, A DISTANCE OF 155.91 FEET; THENCE NORTH 4 DEGREES 43 MINUTES 33 SECONDS
WEST, A DISTANCE OF 151.30 FEET; THENCE NORTH 9 DEGREES 16 MINUTES 29 SECONDS
WEST, A DISTANCE OF 48.27 FEET; THENCE NORTH 80 DEGREES 43 MINUTES 31 SECONDS
4893-2398-6725
EAST, A DISTANCE OF 8.96 FEET TO THE EASTERLY LINE OF SAID LOT 1; THENCE SOUTH
9 DEGREES 16 MINUTES 42 SECONDS EAST ALONG THE EASTERLY LINE OF SAID LOT 1, A
DISTANCE OF 110.84 FEET TO AN ANGLE POINT ON SAID EASTERLY LINE; THENCE SOUTH
6 DEGREES 24 MINUTES 56 SECONDS EAST ALONG THE EASTERLY LINE OF SAID LOT 1, A
DISTANCE OF 100.11 FEET TO AN ANGLE POINT ON SAID EASTERLY LINE; THENCE SOUTH
9 DEGREES 16 MINUTES 42 SECONDS EAST ALONG THE EASTERLY LINE OF SAID LOT 1, A
DISTANCE OF 222.48 FEET TO A SOUTH LINE OF LOT 1; THENCE SOUTH 89 DEGREES 30
MINUTES 58 SECONDS WEST ALONG A SOUTH LINE OF SAID LOT 1, A DISTANCE OF 10.12
FEET TO THE EASTERLY LINE OF LOT 1; THENCE SOUTH 9 DEGREES 16 MINUTES 42
SECONDS EAST ALONG THE EASTERLY LINE OF SAID LOT 1, A DISTANCE OF 48.24 FEET TO
THE POINT OF BEGINNING
PARCEL 3A;
EASEMENT FOR THE BENEFIT OF PARCELS 1, 2 AND 3, FOR DRAINAGE INTO RETENTION
POND, AS CREATED BY THE DRAINAGE AND CONSTRUCTION EASEMENT AGREEMENT
RECORDED NOVEMBER 30,1998 AS DOCUMENT NUMBER 4248745. OVER AND ACROSS THAT
PART OF LOT 1 IN WALGREENS BUFFALO GROVE RESUBDIVISION, BEING A
RESUBDIVISION OF PARTS OF THE SOUTHWEST 1/4 OF SECTION 33, TOWNSHIP 43 NORTH,
AND PART OF THE NORTHWEST 1/4 OF SECTION 3, TOWNSHIP 42 NORTH, RANGE 11 EAST
OF THE THIRD PRINCIPAL MERIDIAN IN LAKE AND COOK COUNTIES, ILLINOIS, DESCRIBED
AS FOLLOWS: COMMENCING AT A POINT ON THE WEST LINE OF LOT 1 IN BUFFALO GROVE
TOWN CENTER UNIT 1. BEING A SUBDIVISION IN SAID SOUTHWEST 1/4 OF SECTION 33,
TOWNSHIP 43 NORTH, RANGE 11 EAST, ACCORDING TO THE PLAT THEREOF RECORDED
NOVEMBER 4,1988 AS DOCUMENT NUMBER 2737813, THAT POINT ALSO BEING THE
NORTHEAST CORNER OF LOT 2 IN FIRNBACH SUBDIVISION, BEING A SUBDIVISION IN SAID
SOUTHWEST 1/4 OF SECTION 33, RECORDED AS DOCUMENT NUMBER 1032913; THENCE
SOUTH 22 DEGREES 19 MINUTES 24 SECONDS EAST, 41.50 FEET ALONG SAID WEST LINE;
THENCE NORTH 85 DEGREES 58 MINUTES 44 SECONDS EAST, 202^9 FEET ALONG THE
SOUTH LINE OF SAID LOT 1; THENCE SOUTH 12 DEGREES 25 MINUTES 09 SECONDS EAST.
2L5.71 FEET; THENCE SOUTH 81 DEGREES 00 MINUTES 00 SECONDS EAST, 25.38 FEET
ALONG THE NORTH LINE OF FORMER SCHOOL LOT, ALSO BEING THE SOUTH LINE OF SAID
LOT 1 TO THE POINT OF BEGINNING; THENCE SOUTH 31 DEGREES 00 MINUTES 00 SECONDS
EAST ALONG SAID SOUTH LINE, 108.72 FEET; THENCE SOUTH 55 DEGREES 09 MINUTES 42
SECONDS WEST, 80.43 FEET; THENCE NORTH 34 DEGREES 06 MINUTES 02 SECONDS WEST,
61.34 FEET TO THE POINT OF BEGINNING, ALL IN LAKE COUNTY, ILLINOIS.
Proposed Lots 1 - 11 in the Final Plat of Subdivision of The Clove containing approximately 22.1544 acres,
with the retail parcel consisting of Lots 1 - 4, 6, and 8 - 11, the residential parcel consisting initially of Lots
5 and 7, with Lot 5 to be donated to the Village pursuant to the terms of the RDA.
PIN: 15-33-304-267
15-33-304-113
15-33-304-162
15-33-304-160
4893-2398-6725.14
Exhibit B
Page 1
The Clove
DEVELOPMENT IMPROVEMENT AGREEMENT
EXHIBIT B
Description of Site Improvements
All improvements set forth and depicted in the Site Improvement Plans, both public and private, including
(to the extent applicable) earthwork, grading, roads or streets, parking lots, areas and/or parking facilities,
sidewalks, sanitary and storm sewers, water main, drainage and storm water detention facilities, site
grading, street lighting, landscaping, survey monuments and benchmarks.
4893-2398-6725.14
Exhibit C
Page 1
The Clove
DEVELOPMENT IMPROVEMENT AGREEMENT
EXHIBIT C
Description of Site Improvement Plans
Final Engineering Plans prepared by: V3 Companies
Entitled: Final Engineering Plans for The Clove
Consisting of:42 sheet(s), last revised 6/30/22
Landscaping and Irrigation Plans prepared by: Lakota Group
Entitled: Buffalo Grove Town Center
Consisting of: 17 sheet(s), last revised 6/24/22
Site Lighting Plans prepared by: Cree Lighting
Entitled: Buffalo Grove Town Center Site & Buffalo Grove Chick Fil A Site Town Center
Consisting of: 2 sheet(s), last revised 4/4/22 and 4/28/22
4893-2398-6725.14
Exhibit D
Page 1
The Clove
DEVELOPMENT IMPROVEMENT AGREEMENT
EXHIBIT D
Engineers Opinion of Probable Costs
[See copy attached on the following two (2) pages]
4893-2398-6725.14
Exhibit D
Page 2
4893-2398-6725.14
Exhibit D
Page 3
4893-2398-6725.14
Exhibit E
Page 1
The Clove
DEVELOPMENT IMPROVEMENT AGREEMENT
EXHIBIT E
Approved Insurance Coverage
[See copy attached on the following page]
4893-2398-6725.14
Exhibit E
Page 2
4893-2398-6725.14
Exhibit E
Page 3