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HomeMy WebLinkAboutRes 14-04 04/06/2004 vwl 4/1/04 4/2/04 RESOLUTION NO. 14-04 A RESOLUTION AUTHORIZING THE EXECUTION OF A RESTRICTIVE COVENANT FOR SIDEWALK IMPROVEMENTS AT 1905 EUCLID AVENUE WHEREAS, applicant, Zlatka Pavlovic, has received approval from appropriate Village of Mount Prospect departments, to construct a new single-family home on the Subject Property, located at 1905 Euclid Avenue; and WHEREAS, Chapter 16 (Development Code) of the Village Code of Mount Prospect requires installation of sidewalks in conjunction with the development of property; and WHEREAS, in certain instances the installation of public improvements, including but not limited to sidewalks, is not feasible at the time of development, however the developer is required to provide those improvements as such time as the Village, Cook County, or Illinois Department of Transportation deems appropriate; and WHEREAS, the Mayor and Board of Trustees have determined that the best interests of the Village would be served by having the developer enter into a Restrictive Covenant, a copy of which is attached hereto and hereby made a part hereof as Exhibit "A", guaranteeing the installation of specified improvements at such a time as deemed reasonable and proper. NOW, THEREFORE, BE IT RESOLVED BYTHE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE' The Mayor and Board of Trustees do hereby authorize execution of a Restrictive Covenant, a copy of which Restrictive Covenant is attached hereto and hereby made a part hereof as Exhibit "A", for property commonly known as 1905 Euclid Avenue, which Restrictive Covenant guarantees the installation of public improvements in the form of sidewalks at such time as deemed necessary. 1905 Euclid Avenue Page 2/2 SECTION TWO' The Village Clerk is hereby directed to record with the Recorder of Deeds, a fully executed copy of the Agreement being the subject of this Resolution. SECTION THREE" This Resolution shall be in full force and effect from and after its passage and approval in the manner provided by law. AYES: Corcoran, Hoefert, Lohrstorfer, Skowron, Wilks NAYS: None ABSENT: Zadel PASSED and APPROVED this 6th day of April, 2004. ATTEST: ~~ Velm W. Lowe Village Clerk H:IGlKOlfileslWINIRESIRestrictive Gov, 1905 Euclid,AprO4.doc c/ RESTRICTIVE COVENANT BY AND BEf\VEEN THE VILLAGE OF MOUNT PROSPECT, ILLINOIS AND THE OWNER-DEVELOPER OF CERTAIN PROPERTY WITHIN SAID VILLAGE REGARDING COMPLETION OF REQUIRED PUBLIC IMPROVEMENTS PERTAINING TO THE DEVELOPMENT OF SAID PROPERTY 1905 Euclid Avenue WHEREAS, pursuant to the provisions of Chapter 15 entitled "Subdivision, Development and Site Improvement Procedures" of the Village Code of Mount Prospect, Illinois certain public improvements are required to be constructed and installed by owners and developers of property within the Village, as part of the approval for the development of such property; and WHEREAS, the schedule for accomplishing the construction and installation of such public improvements by the owner-developer of the property under development is often in conflict with other public improvement projects adjacent to or within the vicinity of said property so as to render the accomplishment of such public improvements by the owner-developer to be practically or economically unfeasible until the same can be combined with or scheduled so as to conform with such other public improvements affecting the subject property under development; and WHEREAS, Chapter 15 of the Village Code of Mount Prospect, Illinois provides that in lieu of a cash escrow, letter of credit or development bond, the owner-developer may execute a restrictive covenant to be recorded and to run with the land as a guarantee that the required public improvements shall be completed with respect to the property under development. NOW, THEREFORE, in accordance with the provisions of the said Chapter 15 of the Village Code of Mount Prospect, Illinois, the Undersigned, Owner Developer does hereby covenant with the Village of Mount Prospect, an Illinois municipal corporation, as follows: 1. The Undersigned is the Owner and Developer of the following described property within the Village of Mount Prospect, Illinois, to wit: Lot 15 in Alten's Euclid Avenue Subdivision of that part of the South 133.5 feet of the Northeast Quarter of Section 25, Township 42 North, Range 11 East of the Third Principal Meridian, in Cook County, Illinois. 2. A plan of development of the described property by the Undersigned has been approved by the Village of Mount Prospect, which approval includes the completion of the following public improvements contained in and provided as a part of the plans, to whit: To purchase and install sidewalks according to and as required by Village Code when requested to do so by the Village of Mount Prospect. 3. For a period of twenty (20) years commencing from the date hereof, the Undersigned shall undertake the above stated improvements with sixty (60) days after being so advised by the Village of Mount Prospect to commence such construction and installation work, and shall continue said work without interruption or delay, until the improvements are completed in a satisfactory manner and in accordance with approved plans and specifications pertaining thereto; or pay a proportionate share of the required improvements by other contractors. 4. This Covenant to complete the said public improvements as herein contained shan run with the said property; and for the period of time as set forth herein. Nothing in this Covenant shall in any way prevent the alienation or sa1e of the subject property or any portion thereof, except that said sale shall be subject to the provisions hereof and to the plan of development pertaining to the property, and the new owner shall be both benefited and bound by the conditions and restrictions herein expressed. 5. This Covenant shall be binding upon and shall inure to the benefit of the parties hereto and their successors and assigns in title and interest and the provisions hereof shall be enforceable in a proceeding at law or in equity against the person or persons seeking to violate the same including an action for injunctive relief, specific performance or to recover damages or other fines and penalties as may be established in such violation. In the event that the owner-developer of the subject property fails to complete the required improvements or pay a proportionate share of the required improvements by other contractors within the specified time periods herein, the value of such improvements shall be entered as a lien against the property due and payable within sixty (60) days after notification to proceed with the improvements. IN WITNESS WHEREOF, the parties hereto have set their hands and seals this 18th day of December, 2003, ~C7~ /..~i --rCLJ .( -- OWNER-DEVELOPER VILLAGE OF MOUNT PROSPECT, ILLINOIS A.....-- >' . - .. ---/-".,. .///.., .-/. ,'. /' .:.-..> /-/- ..' -"'...-.... ./#...~.?,,/ ?:;:¡_. .,/ ."-;';;'.. =,...?// " /' ./ ?co; >' /" <>fJé:¡ /' f ;' . ¿-_/~ / VILLAGiPRESIDENT -....' . /......."'¡ /:- .' /,// >' . A//:'-- c;!:..-- y (.J..---;. ./ ATTEST: