HomeMy WebLinkAbout7.2c Redevelopment Agreement between VMP and Park Terrace Mount Prospect LLC
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Agenda Item Details
MeetingMar 06, 2018 - REGULAR MEETING OF THE MOUNT PROSPECT VILLAGE BOARD - 7:00 p.m.
Category7. NEW BUSINESS
Subject7.2c A RESOLUTION AUTHORIZING THE EXECUTION OF A REDEVELOPMENT AGREEMENT
BETWEEN THE VILLAGE OF MOUNT PROSPECT AND PARK TERRACE MOUNT PROSPECT LLC
FOR THE PARK TERRACE ROWHOME PROJECT LOCATED AT 15-19 N. ELMHURST RD
AccessPublic
TypeAction
Preferred DateMar 06, 2018
Absolute DateMar 06, 2018
Fiscal ImpactYes
Dollar Amount400,000.00
BudgetedYes
Budget SourceGeneral Fund and Water and Sewer Fund
Recommended ActionApprove the resolution authorizing the execution of a Redevelopment Agreement.
Public Content
Information
Attached to this memorandum is a draft redevelopment agreement (RDA) for the proposed 12-unit rowhome project
for the property located at 15 - 19 N. Elmhurst Avenue, "Park Terrace". The subject property is a vacant one-acre
parcel that is located immediately north of the Post Office facility on Elmhurst Avenue.
The RDA obligates the Village to provide up to $400,000 of incentives towards the $7 million project. These
incentives would include the following TIF-eligible expenses:
1.A waiver of up to Eighty Thousand and No/100 Dollars ($80,000.00) of permit fees payable to the Village for
the Project.
2.Payment of up to One Hundred Twenty Thousand Dollars ($120,000.00) for installation of storm water
detention system, curbs, and paving for the Project.
3.Payment of up to Forty Thousand and No/100 Dollars ($40,000.00) by the Village for demolition, tree removal,
construction fencing and/or site preparation fees for the Project.
4.Payment of up to One Hundred Thousand and No/100 Dollars ($100,000.00) by the Village for a sewer
extension in the public right-of-way adjacent to the Property to serve the Project.
5.Payment of up to Sixty Thousand and No/100 Dollars ($60,000.00) by the Village for water, sewer and utility
work to serve the Project.
Under the terms of the RDA, the developer is responsible for installing the above detailed improvements and then
the Village will reimburse them once they have been inspected and approved.
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At the time that the Village established the Prospect and Main TIF District, the TIF Joint Review Board requested that
we maintain a set of metrics to measure the positive impact that the TIF has on the downtown district. The table
below lists the metrics that the Village will continue to measure as we move forward with the numerous
redevelopment projects in the downtown. The projected figures are estimates that are based upon industry standards
for similar developments in the region.
Park Terrace
MetricBaseProjected
New residential units-12
Population growth-30
Growth in EAV$76,943$1,200,000
Sales tax generation-0
Retail and commercial base-0
Number of building permits -1
Projects benefiting impacted local governments-1
Retail and commercial vacancyNANA
Infrastructure improvements-$160,000
Metra ridership-Yes TOD
Alternatives
1. Approve the resolution authorizing the execution of a Redevelopment Agreement.
2. Action at discretion of Village Board.
Staff Recommendation
Staff recommends that the Village Board approve the resolution authorizing the execution of a Redevelopment
Agreement for Park Terrace Mount Prospect, LLC.
RDA- park terrace 15-19 elmhurst ave.pdf (10 KB)Park Terrace RDA.pdf (2,343 KB)
Administrative Content
Executive Content
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RESOLUTION NO.
A RESOLUTION AUTHORIZING THE EXECUTION OF A REDEVELOPMENT
AGREEMENT BETWEEN THE VILLAGE OF MOUNT PROSPECT AND
PARK TERRACE MOUNT PROSPECT LLC.
WHEREAS, the Village of Mount Prospect has established a TaxIncrement Financing
District for the purpose of redeveloping the downtown district; and
WHEREAS, in order to prepare the best plan for the redevelopment area, the Village of
Mount Prospect has determined that it would be in the best interest of the Village to enter
into a redevelopment agreement with Park Terrace Mount Prospect LLC.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES
OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: The Board of Trustees of the Village of Mount Prospect do hereby
authorize execution of an Agreement between the Village of Mount Prospect and Park
Terrace Mount Prospect LLCfor the proposed 12-unit rowhome project for property
located at 15-19 N. Elmhurst Avenuebeing subject of this Resolution, a copy of which is
attached hereto and hereby made a part hereof as Exhibit “A”.
SECTION TWO: That this Resolution shall be in full force and effect from and after its
passage and approval in the manner provided by law.
AYES:
NAYS:
ABSENT:
th
PASSED and APPROVED this 6day of March, 2018.
__________________________________
Arlene A. Juracek
Mayor
ATTEST:
______________________________
Karen M. Agoranos
Village Clerk
REDEVELOPMENT AGREEMENT
FOR THEPARK TERRACE MOUNT PROSPECT, LLC
DEVELOPMENT COMPRISING A PART OF THE
PROSPECT AND MAIN TIF DISTRICT
OF THE VILLAGE OF MOUNT PROSPECT, ILLINOIS
This Redevelopment Agreement For The Smart Builders Development Comprising A Part
Of TheProspect And Main TIF DistrictOf The Village Of Mount Prospect, Illinois (the
“Agreement”) is made and entered into as of the _____ day of ______________, 201_
(the “Effective Date”) by and between the Village of Mount Prospect, Illinois, an Illinois
home rule municipal corporation (the “Village”) andPark Terrace Mount Prospect, LLC ,
an Illinois limited liability company, (the “Developer”) (theVillageand the Developer are
sometimes referred to herein individually as a “Party,” and collectively as the “Parties”).
WITNESSETH:
IN CONSIDERATION of the Preliminary Statements, the mutual covenants herein
contained, and other good and valuable consideration, the sufficiency and receipt of
which is hereby acknowledged, the Parties hereto agree as follows:
I.PRELIMINARY STATEMENTS
Among the matters of mutual inducement which have resulted in this Agreement
are the following:
A.TheVillageis a home rule unit of government in accordance with Article VII,
Section 6 of the Constitution of the State of Illinois, 1970.
B.TheVillagehas the authority, pursuant to the laws of the State of Illinois, to
promote the health, safety and welfare of theVillageand its inhabitants, to
prevent the presence of blight, to encourage private development in order
to enhance the local tax base and increase additional tax revenues realized
by theVillage, to foster increased economic activity within theVillage,to
increase employment opportunities within theVillage, and to enter into
contractual agreements with third parties for the purpose of achieving the
aforesaid purposes, and otherwise take action in the best interests of the
Village.
C.TheVillageis authorized under the provisions of the Tax Increment
Allocation Redevelopment Act, 65 ILCS 5/11-74.4-1, et seq., as amended
(the “Act”), to finance redevelopment in accordance with the conditions and
requirements set forth in the Act.
D.Pursuant to Ordinance Numbers 6293, 6294 and 6295, adopted January
17, 2017, theVillagedesignated the tax increment redevelopment project
area (the “Redevelopment Project Area”), approved a tax increment
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redevelopment plan and project (the “TIF Plan”), and adopted tax increment
financing relative to theVillage's Prospect and MainTax Increment
Financing District (the “TIF District”); said TIF District being legally
described and depicted as set forth in EXHIBIT A-1and EXHIBIT A-2,
respectively, attached hereto and made part hereof.
E.The Developer desires to acquire ownership of certain real property,
consisting of a parcel, located within the Redevelopment Project Area, said
property being legally described on EXHIBIT B, attached hereto and made
a part hereof (the “Property”).
F.The Developer desires toredevelop the Property with a twelve (12) unit
townhome project to be built in two (2) stages (“Stage One” and “Stage
Two”) of six units each , as depicted on the site planattached hereto as
EXHIBITC, and made part hereof, and as described in further detail in
EXHIBITD, attached hereto and made part hereof (the “Project”).
G.It is necessary for the successful completion of the Project that theVillage
enterinto this Agreement with the Developer to provide for the
redevelopment of the Property, thereby implementing the TIF Plan.
H.The Developer has been and continues to be unable and unwilling to
undertake the redevelopment of the Property with the Project, but for certain
tax increment financing (“TIF”) incentives, with regard to waiver of certain
Village-imposed fees and assistance from the Village in defraying certain of
the extra ordinary costs of development of the Project, to be provided by the
Villagein accordance with the Act and the home rule powers of theVillage,
which theVillageis willing to provide under the terms and conditions
contained herein. The Parties acknowledge and agree that but for the
aforementioned incentives, to be provided by theVillage, Developer cannot
successfully and economically develop the Property with the Project in a
manner satisfactory to theVillage. TheVillagehas determined that it is
desirable and in theVillage's best interest to assist Developer in the manner
set forth herein, and as this Agreement may be supplemented and amended
from time to timepursuant to the mutual agreement of the Parties and in the
manner as herein provided.
I.TheVillage, in order to stimulate and induce development of the Property
with the Project, has agreed to provide the incentivesto the Developer in
accordance with the terms and provisions of the Act and this Agreement.
J.This Agreement has been submitted to the Corporate Authorities of the
Village(as defined below) for consideration and review, the Corporate
Authorities have taken allactions required to be taken prior to the execution
of this Agreement in order to make the same, and any and all actions taken
by the Village in furtherance hereof, binding upon theVillageaccording to
387385_4 2
the terms hereof, and any and all actions of the Corporate Authorities of the
Villageprecedent to the execution of this Agreement have been undertaken
and performed in the manner required by law.
K. This Agreement has been submitted to the Members of the Developer for
consideration and review, the Developer’s Members havetaken all actions
required to be taken prior to the execution of this Agreement in order to
make the same binding upon the Developer according to the terms hereof,
and any and all action of the Developer's members precedent to the
execution of this Agreement have been undertaken and performed in the
manner required by law.
L.TheVillageis desirous of having the Redevelopment Project Area
rehabilitated, developed and redeveloped in accordance with the TIF Plan,
and particularly the Project as a part thereof, in order to serve the needs of
theVillage, arrest physical decay and decline inthe Redevelopment Project
Area, increase employment opportunities, stimulate commercial growth and
stabilize the tax base of theVillageand, in furtherance thereof, theVillage
is willing to offer Developer the TIF incentives referenced in subsection H.
above, under the terms and conditions hereinafter set forth, to assist such
development.
II.DEFINITIONS
For the purposes of this Agreement, unless the context clearly requires otherwise,
words and terms used in this Agreement shall have the meanings provided from
place to place herein, and as follows:
A.“Change in Law”means the occurrence, after the Effective Date, of an
event described below in this definition, provided such event materially
changes the costs or ability of the Party relying thereon to carry out its
obligations under this Agreement and such event is not caused by the Party
relying thereon:
Change in Law means any of the following: (1) the enactment, adoption,
promulgation or modification of any federal, State or local law, ordinance,
code, rule or regulation (other than by theVillage,or,with respect to those
made by theVillage, only if they violate the terms of this Agreement); (2)
the order or judgment of any federal or State court, administrative agency
or other governmental body(other than theVillage); or (3) the adoption,
promulgation, modification or interpretation in writing of a written guideline
or policy statement by a governmental agency (other than theVillage, or,
with respect to those made by theVillage, only if theyviolate the terms of
this Agreement). Change in Law, for purposes of this Agreement, shall also
include the imposition of any conditions on, or delays in, the issuance or
renewal of any governmental license, approval or permit (or the suspension,
387385_4 3
termination, interruption, revocation, modification, denial or failure of
issuance or renewal thereof) necessary for the undertaking of the actions
to be performed under this Agreement (except any imposition of any
conditions on, or delays in, any such issuance orrenewal by theVillage,
except as provided herein).
B.“VillageCode”means theVillageof Mount Prospect Village Code, as
amended.
C.“Corporate Authorities”means the MayorandBoard of Trustees of the
Villageof Mount Prospect, Illinois.
D.“Day”means a calendar day.
E.“Effective Date”means the day on which this Agreement is executed by
theVillage, with said date appearing on page 1 hereof.
F.“Eligible Costs”means certain costs of the Incentives (as defined in
Section VI. Below), to the extent permitted under 65 ILCS 5/11-74.4-3(q).
G.“Party”or“Parties”means theVillageand/or the Developer,
individually/collectively, and their respective successors and/or assigns as
permitted herein, as the context requires.
H.“Person”means any individual, corporation, partnership, limited liability
company, joint venture, association, trust, or government or any agency or
political subdivision thereof, or any agency or entity created or existing
under the compact clause of the United States Constitution.
I.“State”means the State of Illinois.
J.“TIF Ordinances”means those Ordinances referenced in subsection I.D.
above.
K.“Uncontrollable Circumstance”means any event which:
1.is beyond the reasonable control of and without the fault of the Party
relying thereon; and
2.is one or more of the following events:
a.a Change in Law;
b.insurrection, riot, civil disturbance, sabotage, act of the public
enemy, explosion, fire, nuclear incident, war or naval
blockade;
387385_4 4
c.epidemic, hurricane, tornado, landslide, earthquake, lightning,
fire, windstorm, other extraordinary or ordinary weather
conditions or other similar act of God;
d.governmental condemnation or taking other than by the
Village;
e.strikes or labor disputes, or work stoppages not initiated by
the Developer or theVillage;
f.unreasonable delay in the issuance of building or other
permits or approvals by theVillageor other governmental
authorities having jurisdiction other than theVillageincluding
but not limited to the Illinois Department of Transportation
(“IDOT”),the Metropolitan Water Reclamation District of
Greater Chicago (“MWRD”)and/or the Illinois Environmental
Protection Agency (“IEPA”);
g.shortage or unavailability of essential materials, which
materially change the ability of the Party relying thereon to
carry out its obligations under this Agreement;
h.unknown or unforeseeable geo-technical or environmental
conditions;
i.major environmental disturbances;
j.vandalism; or
k.terrorist acts.
Uncontrollable Circumstance shall not include: economic hardship;
unavailability of materials (except as described in subsection 2.g. above);
or a failure of performance by a contractor (except as caused by events
which are Uncontrollable Circumstances as to any applicablecontractor).
For each day that theVillageor the Developer is delayed in its performance
under this Agreement by an Uncontrollable Circumstance, the dates set
forth in this Agreement shall be extended by one (1) day without penalty or
damages to either Party.
L. “Unit”means each of the individual units in the Project.
III.CONSTRUCTION OF TERMS
This Agreement, except where the context by clear implication shall otherwise
require, shall be construed and applied as follows:
A.Definitions include both singular and plural.
B.Pronouns include both singular and plural and cover all genders.
C.The words “include,” “includes,” and “including” shall be deemed to be
followed by the phrase “without limitation”.
387385_4 5
D.Headings of Sections herein are solely for convenience of reference and do
not constitute a part hereof and shall not affect the meaning, construction
or effect hereof.
E.All exhibits attached to this Agreement shall be and are operative provisions
of this Agreement and shall be and are incorporated by reference in the
context of use where mentioned and referenced in this Agreement. In the
event of a conflict between any exhibit and the terms of this Agreement, the
Agreement shall control.
F.Any certificate, letter or opinion required to be given pursuant to this
Agreement means a signed document attesting to or acknowledging the
circumstances, representations, opinions of law or other matters therein
stated or set forth. Reference herein to supplemental agreements,
certificates, demands, requests, approvals, consents, notices and the like
means that such shall be in writing whether or not a writing is specifically
mentioned in the context of use.
G.TheVillageManager, unless applicable law requires action by the
Corporate Authorities, shall have the power and authority to make or grant
or do those things, certificates, requests, demands, notices and other
actions required that are ministerial in nature or described in this Agreement
for and on behalf of theVillageand with the effect of binding theVillageas
limited by and provided for in this Agreement. The Developer isentitled to
rely on the full power and authority of the Persons executing this Agreement
on behalf of theVillageas having been properly and legally given by the
Village.
H.In connection with the foregoing and other actions to be taken under this
Agreement, and unless applicable documents require action by Developer
in a different manner Developer hereby designates Richard Bondarowicz
as its authorized representatives who shall individually have the power and
authority to make or grant or do all things, supplemental agreements,
certificates, requests, demands, approvals, consents, notices and other
actions required or described in this Agreement for and on behalf of the
Developer and with the effect of binding the Developer in that connection
(such individual being designated as an “Authorized Developer
Representative”). The Developer shall have the right to change its
Authorized Developer Representative by providing theVillagewith written
notice of such change from both authorized representatives which notice
shall be sent in accordance with Section XVIII.B. of this Agreement.
IV.COOPERATION OF THE PARTIES
387385_4 6
TheVillageand the Developer agree to cooperate in implementing the Project in
accordance with the Parties' respective obligations set forth in this Agreement, and
specific approvals by theVillagein the future, relative to the development of the
Property and the Project, including zoning applications relative thereto, and
Village-issued permits and approvals relative thereto.
V.ACQUISITIONOF THE PROPERTY
The Developer shall acquire the Property on or before the commencement of the
construction as provided in Section VI.A.3. below (“Acquisition Deadline”). The
date the Developer acquires title to the Property shall be the “Acquisition Date.”
VI. DEVELOPMENT OF THE PROPERTY
A.Approvals, Permits, Construction, and Completion.The Developer
shall, subject to Uncontrollable Circumstances:
1.On or before April 1, 2018, appear before the Village’s Planning and
ZoningCommissionfor all zoning entitlements and/or zoning
approvals necessary for the construction of the Project.
2.On or before August 1, 2018, apply for all necessary permits and
approvals from all governmental agencies having jurisdiction over
the Project as may be required to commence construction of the
Project.
3.Subject to unreasonable delays as provided in Section II.K.2.f. of this
Agreement, on or before September 1, 2018,commence
construction of Stage One of the Project, and on or before
September 1, 2020 commenceconstruction of Stage Two of the
Project.
4.On or before May 1, 2020, complete construction of Stage One of
the Project, and on or before May 1, 2022 complete Stage Two of
the Project.
5.On or before July 1, 2020, obtain a Certificate of Project Completion
(as defined in Section XI.A. below) for Stage One of the Project and
on or before July 1, 2022 obtain a Certificate of Completion for Stage
Two of the Project.
The Village may extend, in its sole and absolute discretion, any deadline in
this Section VI.A. upon request from the Developer, upon such terms and
conditions as the Village may require for such extension.
387385_4 7
B.Incentives.So long as the Developer is in compliance with all its obligations
in this Agreement, the Developer shall be entitled to the following incentives
(the “Incentives”):
1.A waiver of up to Eighty Thousand and No/100 Dollars ($80,000.00)
of permit fees payable to the Village for the Project.
2.Payment of up to One Hundred Twenty Thousand Dollars
($120,000.00) for installation of storm water detention system, curbs,
and paving for the Project.
3.Payment of up to Forty Thousand and No/100 Dollars ($40,000.00)
by the Village for demolition, tree removal, construction fencing
and/or site preparation fees for the Project.
4.Payment of up to One Hundred Thousand and No/100 Dollars
($100,000.00) by the Village for a sewer extension in the public right-
of-way adjacent to the Property to serve the Project.
5.Payment of up to Sixty Thousand and No/100 Dollars ($60,000.00)
by the Village for water, sewer and utility work to serve the Project.
C.Procedure for Payment of Incentives.
1.The Incentives are available and/or payable from the Village only
upon satisfaction by Developer of all the following conditions
precedent:
(i)Acquisition of all necessary Villagezoning approvals for the
Project;
(ii)Acquisition of the Property on or before the Acquisition
Deadline and in compliance with all deadlines in Section VI.A.,
as such deadlines may be extended from time to time;
(iii)Being current with all Federal, State and local tax obligations;
(vi)Complying with the covenants, obligationsand agreements in
Sections VIII, IX, XandXIIof this Agreement; and
(vii)Otherwise being in compliance with all of the terms of this
Agreement andthe laws and regulations of the Village.
2.The Villageshall authorize the payment of the Incentives in Section
VI.B.3.-5. Directly tocontractors or subcontractors on the Project, as
the case may be, uponsatisfaction of all the following conditions:
387385_4 8
(i)The disbursement is authorized by this Agreement and the
disbursement is an Eligible Cost;
(ii)Developer has satisfied the conditions in Section VI.C.1.;
(iii)Developer has submitted to the Village’s Director of Finance
asworn disbursement request, along with appropriate
supporting documentation in relation thereto, requesting
payment of a portion of the Incentive, including Developer’s
representation that the requested disbursement is an Eligible
Cost;
(iv)Developer is not in default of any material provision of this
Agreement;
(v)The Developer shall, upon request by the Village, provide the
Village with all reasonable and customary documentation
required by the Village to evidence the cost of the Incentive,
such records to include, but not be limited to, all invoices for
the claimed Incentive, all contracts with the Developer’s
contractors, subcontractors, their affidavits, lien waivers with
invoices, copies of checks and any other documentation
reasonably requested by the Village and/or in the possession
of the Developer; and
(vi)The Village has validated the costs associated with the
disbursement request which shall be done within the ten (10)
business day period following the submission of the
disbursement request.
D.Payback by Developer.If this Agreement terminates due to the breach of
anyof the Developer’s obligations, Developer shall repay the Village the
Incentives incurred by the Village:
1.The Agreement is terminated before Developer commences
construction of the Project: One Hundred Percent (100%).
2.The Agreement is terminated after Developer commences
construction of the Projectbut before the Developer completes
construction of the Project: Seventy Five Percent (75%).
3.The Agreement is terminated after Developer completes
construction of the Projectbut before Developer obtainsa Certificate
of Project Completion: Twenty Five Percent (25%).
387385_4 9
If this Agreement is cancelled or terminated pursuant to Section XVIII.A.,
Developer shall repay the Village all of the Incentives paid by the Village
pursuant toSection VI.B.3.-5.
Any repayment owed by Developer to the Village hereunder shall be made
by Developer within thirty (30) days of a written demand by the Village for
such repayment.
VII.UNDERTAKINGS ON THE PART OF THE VILLAGE
A.TheVillageagrees to:
1.Cooperate with Developer in Developer's attempts to obtain all
necessary approvals, licenses and/or permits from any
governmental or quasi-governmental entity other than theVillage
and, upon request of Developer, will promptly execute any
applications or other documents (upon their approval by theVillage)
which Developer intends to file with such other governmental
agencies, quasi-governmental agencies and/or utility companies in
regard to the Project.
2.Waive the fee for the connectionof the Subject Property to the
Village’s water supply occurring during the construction of the
Project.
B.TheVillageshall further promptly respond to, and/or process, and consider
reasonable requests of Developer for applicable building approvals and/or
permits, driveway permits, drive thru permits, special use permits (if and to
the extent applicable), curb cut permits, or other approvals, permits and/or
licenses necessary for the construction of the Project. Approval of any
building approvals and/or permit applications and/or engineering plans
and/or operating licenses (including liquor licenses, subject to the applicant
therefor being qualified to receive same under both State law and the
Village’s ordinances) shall be contingent on the Developer providing all
required and requested documentation including, but not limited to, building
plans required to substantiate that said improvements fully conform with all
applicable State statutes and also allVillageordinances and codes, as well
as receipt of all required building approvals from any federal, state, regional
or county agencies having applicable jurisdiction.
VIII.DEVELOPER’S OBLIGATIONS
Developer shall have the obligations set forth below, in addition to those set forth
elsewhere in this Agreement, for the development, construction, financing,
completion and furtherance of the Project:
387385_4 10
A.The Developer shall construct the Project materially and substantially in
conformance with the approvals therefor from theVillage. The Developer
shall pay or cause to be paid all building-related fees required by theVillage
Code.
B.The Developer shall at all times acquire, install, construct, operate and
maintain the Project in substantial conformance with all applicable laws,
rules, ordinances,andregulations.All work with respect to the Project shall
substantially conform to all applicable federal, State and local laws,
regulations and ordinances, including, but not limited to, zoning, subdivision
and planned development codes, building codes, environmental laws
(including any law relating to public health, safety and the environment and
the amendments, regulations, orders, decrees, permits, licenses or deed
restrictions now or hereafter promulgated thereafter), life safety codes,
property maintenance codes and any other applicable codes and
ordinances of theVillage, or any of its rules or regulations or amendments
thereto which are in effect from time to time during the construction and
maintenance of the Project and/or during the term of this Agreement.
C.During the initial construction of the Projectas herein contemplated, the
Developer shall stage its construction of the Project to avoid to the fullest
extent possible any material community disruption. During construction, the
Developer shall also keep all public streets used by the Developer clean on
a daily basis, and for each day in which such public streets are not properly
cleanand such condition is not remedied within twenty four (24) hours of
written notice to Developer, the Developer shall pay theVillagethe sum of
Two Hundred Fifty and No/100 Dollars ($250.00) for each such violation.
D.Developer shall park and stage all construction equipment, materials and
vehicles to be used in relation to the construction of the Project on the
Property.
E.Developer shall submit written evidence to theVillage, in a form and
substance reasonably satisfactory to theVillage, that Developer has access
to sufficient funds to pay any costs of the Project within ninety (90) days
after the Effective Date. Such evidence can include, without limitation,
commitments for financing and/or letters of credit from a lender, and/or
investor commitments, for the anticipated costs of such Project.
F.Developer shall meet with the Corporate Authorities andVillagestaff and
make presentations to the Corporate Authorities andVillagestaff as
reasonably requested by theVillageMayor orVillage Managerin order to
keep theVillageapprised of the progress of the Project.
G.The Developer shall have a periodof ninety (90) days after the Effective
Date (the “Due Diligence Period”) to perform investigations of the Property,
387385_4 11
including, but not limited to environmental investigations, and determine, in
Developer’s sole and absolute discretion, whether the Property is suitable
for Developers use. Developer shall have the right to terminate this
Agreement, at any time prior to the expiration of the Due Diligence Period,
as a result of an adverse environmental condition on the Property, which is
discovered by the Developer and which either prevents the construction of
the Project by the Developer, in Developer’s reasonable judgment, or
materially increases the cost of the construction of the Project.
IX.ADDITIONAL COVENANTS OF DEVELOPER
A.Developer Existence.Developer will do or cause to be done all things
necessary to preserve and keep in full force and effect its existence and
standing as a an Illinois limited liability company, so long as this Agreement
is in effect, and for so long as Developer maintains aninterest in the
Property or has any other remaining obligation pursuant to the terms of this
Agreement.
B.Further Assistance and Corrective Instruments.TheVillageand
Developer agree that they will, from time to time, execute, acknowledge and
deliver,or cause to be executed, acknowledged and delivered, such
supplements hereto and such further instruments as may be reasonably
required for carrying out the intention of or effectuate or facilitating the
performance of this Agreement to the extent legallypermitted and within the
Village's and the Developer's sound legal discretion.
C.No Gifts.Developer covenants that no director, employee or agent of
Developer, or any other Person connected with Developer, has made,
offered or given, either directly or indirectly, to any member of the Corporate
Authorities, or any officer, employee or agent of theVillage, or any other
Person connected with theVillage, any money or anything of value as a gift
or bribe or other means of influencing his or her action in his or her capacity
with theVillage.
D.Disclosure.Concurrently with execution of this Agreement, Developer
shall disclose to theVillagethe names, addresses and ownership interests
of all Persons that have an ownership interest in the Developer, together
with such supporting documentation that may be reasonably requested by
theVillage. Developer further agrees to notify theVillagethroughout the
term of this Agreement of the names, addresses and ownership interests of
any changes ofowners of the Developer.
E.Prevailing Wage.Developer agrees to pay the Prevailing Wage under the
Illinois Prevailing Wage Act to the extent improvements relative to the
Projectare, upon completion, owned by the Village.
387385_4 12
X.ADHERENCE TO VILLAGECODES AND ORDINANCES
Except as otherwise provided for in this Agreement, all development and
construction of the Project shall comply in all respects with the provisions in the
building, plumbing, mechanical, electrical, storm water management, fire
prevention, property maintenance, zoning and subdivision codes of theVillageand
all other germane codes and ordinances of theVillagein effect from time to time
during the course of construction of the Project.
XI.SPECIAL CONDITIONS
A.Certificate of Project Completion.Within thirty (30) days after written
request from Developer, and provided that Developer has not received any
notice of default under this Agreement or notice of non-compliance with any
Villagecodes with respect to Developer’s construction obligations, any of
which have not been cured, and after theVillagehas issued the final
certificate of occupancy for the proposed building on the Property, and has
confirmed that the proposed buildingon the Property has been constructed
in substantial and material compliance with allVillagecodes and this
Agreement, theVillageshall deliver a certificate of completion and
satisfaction of all construction terms, covenants and conditions contained in
this Agreement (the “Certificate of Project Completion”) or, if not complete
or satisfied, a written statement as to what deficiencies exist, and upon
Developer’s correction of such issues, the Village shall then promptly issue
to Developer a Certificate of Project Completion.
B.Certification of Developer’s Project Cost.Within thirty (30) days of the
issuance of the Certificate of Project Completion, the Developer shall certify,
in writing, to theVillage, the amount spent by the Developer (inclusive of all
hard and soft costs) to complete the Project,and an estimate of the number
of jobs to be generated or created by the Project.
C.Release of Sales Tax Information.The Developer shall take all
reasonable actions necessary to cause, and/or shall take all reasonable
actions necessary to require,any tenants or business entity occupant(s)of
the Project to cause, the Illinois Department of Revenue to release the sales
tax information/documentation, relative to the Project, to theVillage. In the
alternative, the Developer can file with theVillage, or cause the business
entity occupant(s)of the Project to file with theVillage, copies of the sales
tax returns filed by said business entity occupant(s)of the Project with the
Illinois Department of Revenue (currently the ST-2 form filed with the Illinois
Department of Revenue on a monthly basis). For purposes of this
subsection, sales tax means taxes generated from the Project, and received
by theVillage, from the Retailers’ Occupation Tax Act, 35 ILCS 120/1,et
seq.and the Service Occupation Tax Act, 35 ILCS 115/1,et seq.
387385_4 13
D.Employment Opportunities.To the extent feasible, the Developer shall
makereasonable efforts to notifyVillageresidents of employment
opportunities that are available relative to the Project, and, to the extent
permitted by law, make reasonable efforts to employ qualified residents of
theVillagein relation to the Project.
XII.REPRESENTATIONS AND WARRANTIES OF DEVELOPER
Developer represents, warrants and agrees as the basis for the undertakings on
its part herein contained that as of the date hereof and until completion of the
Project:
A.Developer is an Illinois limited liability company, and is authorized to and
has the power to enter into, and by proper action has been duly authorized
to execute, deliver and perform, this Agreement. Developer is solvent, able
to pay its debts as they mature and financially able to perform all the terms
of this Agreement. To Developer's knowledge, there are no actions at law
or similar proceedings which are pending or threatened against Developer
which would result in any material and adverse change to Developer's
financial condition, or which would materially and adversely affect the level
of Developer's assets as of the date of this Agreement or that would
materially and adversely affect the ability of Developer to proceed withthe
construction and development of the Project.
B.Neither the execution and delivery of this Agreement by Developer, the
consummation of the transactions contemplated hereby by Developer, nor
the fulfillment of or compliance with the terms and conditions of this
Agreement by Developer conflicts with or will result in a breach of any of the
terms, conditions or provisions of any offerings or disclosure statement
made or to be made on behalf of Developer (with Developer's prior written
approval), any organizational documents, any restriction, agreement or
instrument to which Developer or any of its partners, directors, or venturers
is now a party or by which Developer or any of its partners, directors or
venturers is bound, or constitutes a default under any of the foregoing, or
results in the creation or imposition of any prohibited lien, charge or
encumbrance whatsoever upon any of the assets or rights of Developer,
any related party or any of its partners, directorsor venturers under the
terms of any instrument or agreement to which Developer, any related party
or any of its partners, directorsor venturers is now a party or by which
Developer, any related party or any of its partners, directorsor venturers is
bound.
C.Developer has, or will have within sixty (60) days of the Acquisition Date,
sufficient financial and economic resources to implement and complete
Developer's obligations contained in this Agreement.
387385_4 14
D.Developer represents and warrants that it has not received any notice from
any local, State or federal official that the activities of Developer with respect
to the Property and/or the Project may or will be in violation of any
environmental law or regulation. Developer is not aware of any State or
federal claim filed or planned to be filed by any Party relating to any violation
of any local, State or federal environmental law, regulation or review
procedure, and Developer is not aware of any violation of any local, State
or federal law, regulation or review procedure which would give anyperson
a valid claim under any State or federal environmental statute.
E.Developer represents and warrants to theVillagethat Developer, and its
respective principals, are experienced in the design, construction and
completionof housing developmentssimilar or comparable to the Project,
and are able to provide the Project with the necessary skill, knowledge and
expertise as well as input from other experts and consultants in the
construction and operation of such a Project.
F.Developer and successor owners agree to pay or cause to be paid all
general and special real estate taxes levied during their respective period
of ownership against their respective interest in the Project on or prior to the
date same is due and said taxes shall not become delinquent. Developer
and successor owners shall deliver evidence of payment of such taxes to
theVillageupon request.
G.Consistent with its covenant in subsection F. above, the Developer and
successor owners shall not assert a tax-exempt status during their
respective period of ownership. This prohibition shall run with the land and
shall expire on the date the Redevelopment Project Area expires or an
earlier date if agreed by theVillageand Developer.
H.Developer represents and warrants to theVillagethat, in connection with
this transaction, no third-party broker or finder has been engaged or
consulted by it, or its subsidiaries or agents or employees, or, through such
the Developer’s actions (or claiming through such party), which is entitled
to compensation as a consequence of this transaction.
XIII.REPRESENTATIONS AND WARRANTIES OF THE VILLAGE
TheVillagerepresents, warrants and agrees as the basis for the undertakings on
its part herein contained that:
A.TheVillageis an Illinois home rule municipal corporation duly organized and
validly existing under the laws of the State of Illinois, and has all requisite
corporate power and authority to enter into this Agreement.
387385_4 15
B.The execution, delivery and performance of this Agreement and the
consummation by theVillageof the transactions provided for herein and the
compliance with the provisions of this Agreement:
1.have been duly authorized by all necessary corporate action on the
part of theVillage;
2.require no other consents, approvals or authorizations on the part of
theVillagein connection with theVillage's execution and delivery of
this Agreement; and
3.shall not, by lapse of time, giving of notice or otherwise result in any
breach of any term, condition or provision of any indenture,
agreement or other instrument to which theVillageis subject.
C.To the best of theVillage's knowledge, there are no proceedings pending
or threatened against or affecting theVillageor the TIF District in any court
or before any governmental authority which involves the possibility of
materially or adversely affecting the ability of theVillageto perform its
obligations under this Agreement, except for the case of Board of Education
of Township High School District No. 214 v. Village of Mount Prospect, 2017
CH 08478, pending in the Circuit Court of Cook County.
D.TheVillagehas sufficient financial and economic resources to implement
and complete theVillage’s obligations contained in this Agreement.
E.TheVillagerepresents and warrants to the Developer that, in connection
with this transaction, no third-party broker or finder has been engaged or
consulted by it, or its subsidiaries or agents or employees, or, through such
theVillage’s actions (or claiming through such party), is entitled to
compensation as a consequence of this transaction.
XIV.INSURANCE
A.The Developer, and any successor in interest to the Developer, shall obtain
and continuously maintain insurance on the Property and the Project and,
from time to time at the request of theVillage, furnish proof to theVillage
evidence that the premiums for such insurance have been paid and the
insurance is in effect. The insurance coverage described below is the
minimum insurance coverage that the Developer must obtain and
continuouslymaintain, provided that the Developer shall obtain the
insurance described in subsection 1. below prior to the commencement of
construction of any portion of the Project:
1.Builder's risk insurance, written on the so-called “Builder's Risk -
CompletedValue Basis,” in an amount equal to one hundred percent
387385_4 16
(100%) of the insurable value of the Project at the date of completion,
and with coverage available in non-reporting form on the so-called
“all risk” form of policy.
2.Comprehensive general liability insurance (including operations,
contingent liability, operations of subcontractors, completed
operations and contractual liability insurance) together with an
Owner's/Contractor's Policy on a primary non-contributory basis
naming theVillageand its officers, agents and employees as
additional insureds, with limits against bodily injury and property
damage of not less than $5,000,000.00 for each occurrence (to
accomplish the above-required limits, an umbrella excess liability
policy may be used), written on an occurrence basis.
3.Workers compensation insurance, with statutory coverageif
applicable to the Developer.
B.All insurance required in this Section XIV. shallbe obtained and
continuously maintained through responsible insurance companies
selected by the Developer or its successors that are authorized under the
laws of the State to assume the risks covered by such policies. Unless
otherwise provided in this Section XIV., cancellation relative to each policy
shall be as provided by the policy; however, theVillagemust be named as
a cancellation notice recipient. Not less than fifteen (15) days prior to the
expiration of any policy, the Developer, or its successor or assign, must
renew the existing policy or replace the policy with another policy
conforming to the provisions of this Section XIV. In lieu of separate policies,
the Developer or its successor or assign, may maintain a single policy,
blanket or umbrella policies, or a combination thereof, having the coverage
required herein.
XV.INDEMNIFICATION, HOLD HARMLESS AND RELEASE PROVISIONS
A.Developer releases from and covenants and agrees that theVillage, its
governing body members, officers, agents, including independent
contractors, consultants, attorneys, servants and employees thereof (for
purposes of this Section XV., collectively the “VillageIndemnified Parties”)
shall not be liable for, and agrees to indemnify and hold harmless theVillage
Indemnified Parties against any loss or damage to property or any injury to
or death of any person occurring at or about or resulting from any defect in
the Project or the Property or arising pursuant to the Developer’s obligations
or warranties under this Agreement or actions in furtherance thereof to the
extent not attributable to the gross negligence or willful misconduct of the
VillageIndemnified Parties; provided, that this waiver shall not apply to the
warranties made or obligations undertaken by theVillagein this Agreement.
387385_4 17
B.Except for gross negligence or willful misconduct of theVillageIndemnified
Parties, Developer agrees to indemnify theVillageIndemnified Parties, now
and forever, and further agrees to hold the aforesaid harmless from any
claims, demands, suits, costs, expenses (including reasonable attorney's
fees), actions or other proceedings whatsoever by any person or entity
whatsoever arising or purportedly arising from the actions or inactions of
Developer (or if other Persons acting on their behalf or under its direction or
control) under this Agreement, or the transactions contemplated hereby or
the acquisition, construction, installation, ownership, and operation of the
Project.
C.Except as otherwise set forth herein, theVillagemakes no warranties or
representations regarding, nor does it indemnify the Developer with respect
to, the existence or nonexistence on or in the vicinity of the Property, or
anywhere within the TIF District of any toxic or hazardous substances of
wastes, pollutants or contaminants (including, without limitation, asbestos,
urea formaldehyde, the group of organic compounds known as
polychlorinated biphenyls, petroleum products including gasoline, fuel oil,
crude oil and various constituents of such products, orany hazardous
substance as defined in the Comprehensive Environmental Response,
Compensation and Liability Act of 1980 (“CERCLA”), 42 U.S.C. §§ 9601-
9657, as amended) (collectively, the “Hazardous Substances”). The
foregoing disclaimer relates to any Hazardous Substance allegedly
generated, treated, stored, released or disposed of, or otherwise placed,
deposited in or located on or in the vicinity of the Property, or within the TIF
District, as well as any activity claimed to have been undertaken on or inthe
vicinity of the Property, that would cause or contribute to causing (1) the
Property to become a treatment, storage or disposal facility within the
meaning of, or otherwise bring the Property within the ambit of, the
Resource Conservation and RecoveryAct of 1976 (“RCRA”), 42 U.S.C.
§6901 et seq., or any similar State law or local ordinance, (2) a release or
threatened release of toxic or hazardous wastes or substances, pollutants
or contaminants, from the Property, within the meaning of, or otherwise
bring the Property within the ambit of, CERCLA, or any similar State law or
local ordinance, or (3) the discharge of pollutants or effluents into any water
source or system, the dredging or filling of any waters or the discharge into
the air of any emissions, that would require a permit under the Federal
Water Pollution Control Act, 33 U.S.C. §1251 et seq., or any similar State
law or local ordinance. Further, theVillagemakes no warranties or
representations regarding, nor does theVillageindemnify the Developer
with respect to, the existence or nonexistence on or in the vicinity of the
Project, or anywhere within the Property or the TIF District, of any
substances or conditions in or on the Property, that may support a claim or
cause of action under RCRA, CERCLA, or any other federal, State or local
environmental statutes, regulations, ordinances or other environmental
regulatory requirements. TheVillagemakes no representations or
387385_4 18
warranties regarding the existence of any above ground or underground
tanks in or about the Property, or whether any above or underground tanks
have been located under, in or about the Property have subsequently been
removed or filled. TheVillagewarrants and represents to Developer that it
has not received notice, other than as already provided to the Developer by
theVillagein the environmental reports provided to the Developer by the
Village, from any agency, individual or entity of any violation of any
environmental law relating to any Hazardous Substances affecting the
Property.
D.The Developer waives any claims against theVillageIndemnified Parties,
and their members and boards, for indemnification, contribution,
reimbursement or other payments arising under federal, State and common
law relating to the environmental condition of the land comprising the
Property.
E.No liability, right or claim at law or inequity shall attach to or shall be incurred
by theVillage’s Mayor,Trustees, officers, officials, attorneys, agents and/or
employees, and any such rights or claims of the Developer against the
Village’s Mayor,Trustees, officers, officials, attorneys, agents and/or
employees are hereby expressly waived and released as a condition of and
as consideration for the execution of the Agreement by theVillage.
F.TheVillagereleases from and covenants and agrees that Developer, its
members, shareholders, officers, directors, agents, including independent
contractors, consultants, attorneys, servants and employees thereof (for
purposes of this Section XV., collectively the “Developer Indemnified
Parties”) shall not be liable for, and agrees to indemnify and hold harmless
the Developer Indemnified Parties against any loss or damage to property
or any injury to or death of any person arising pursuant to theVillage’s
obligations or warranties under this Agreement or actions in furtherance
thereof to the extent not attributable to the gross negligence or willful
misconduct of the Developer Indemnified Parties.
XVI.EVENTS OF DEFAULT AND REMEDIES
A.DeveloperEvents of Default.The following shall be Events of Default with
respect to this Agreement:
1.If any material representation made by Developer in this Agreement,
or in any certificate, notice, demandor request made by a Party
hereto, in writing and delivered to theVillagepursuant to or in
connection with any of said documents, shall prove to be untrue or
incorrect in any material respect as of the date made; provided,
however, that such default shall constitute an Event of Default only if
Developer does not remedy the default, within thirty (30) days after
387385_4 19
written notice from theVillageand in any event (subject to
Uncontrollable Circumstances)cures such default within ninety (90)
days after such notice.
2.Default by Developer for a period of thirty (30) days after written
notice thereof in the performance or breach of any material covenant
contained in this Agreement concerning the existence, structure or
financial condition of Developer; provided, however, that such default
or breach shall not constitute an Event of Default if such default
cannot be cured within said thirty (30) days and Developer, within
said thirty (30) days, initiates and diligently pursues appropriate
measures to remedy the default and in any event (subject to
Uncontrollable Circumstances) cures such default within sixty (60)
days after such notice.
3.Default by Developer for a period of thirty (30) days after written
notice thereof in the performance or breach of any material covenant,
warranty or obligation contained in this Agreement; provided,
however, that such default shall not constitute an Event of Default if
such default cannot be cured within said thirty (30) days and the
Developer, within said thirty (30) days initiates and diligently pursues
appropriate measures to remedy the default and in any event
(subject to Uncontrollable Circumstances) cures such default within
sixty (60)days after such notice.
4.The entry of a decree or order for relief by a court having jurisdiction
in the premises in respect of Developer in an involuntary case under
the federal bankruptcy laws, as now or hereafter constituted, or any
other applicable federal or State bankruptcy, insolvency or other
similar law, or appointing a receiver, liquidator, assignee, custodian,
trustee, sequestrator (or similar official) of Developer for any
substantial part of its property, or ordering the winding-up or
liquidation of its affairs and the continuance of any such decree or
order unstayed and in effect for a period of forty five(45) consecutive
days.
5.The commencement by Developer of a voluntary case under the
federal bankruptcy laws, as now or hereafter constituted, or any other
applicable federal or State bankruptcy, insolvency or other similar
law, or the consent by Developer to the appointment of or taking
possession by a receiver, liquidator, assignee, trustee, custodian,
sequestrator (or similar official) of Developer or of any substantial
part of the Property, or the making by any such entity of any
assignment for the benefit of creditors or the failure of Developer
generally to pay such entity’s debts as such debts become due or
387385_4 20
the taking of action by Developer in furtherance of any of the
foregoing, or a petition is filed in bankruptcyby others.
6.Failure to have funds as timely required to meet Developer’s
obligationsto construct the Project and obtain a Certificate of Project
Completion.
7.A sale, assignment, or transfer of the Project, except in accordance
with this Agreement.
8.Material change in the managementof Developer, except in
accordance with this Agreement.
9.Developer abandons the Project on the Property. Abandonment shall
be deemed to have occurred when work stops on the Property for
more than thirty (30) consecutive days for any reason other than
Uncontrollable Circumstancesand such work is not resumed within
thirty (30) days of written demand by the Village.
10.Developer fails to comply with applicable governmental codes and
regulations in relation tothe construction and maintenance of the
Project contemplated by this Agreement and such failure continues
for more than thirty (30) days after written notice thereof from the
Village; provided, however, that such default or breach shall not
constitute an Event of Default if such default cannot be cured within
said thirty (30) days and Developer, within said thirty (30) days,
initiates and diligently pursues appropriate measures to remedy the
default and in any event (subject to Uncontrollable Circumstances)
cures such default within sixty (60)days after such notice. The
maintenance requirement of this provision shall not be covered by
and shall survive any Certificate of Project Completion or Estoppel
Certificate of any kind issued during the term of this Agreement.
11.A material representation or warranty of Developer is not true for a
period of thirty (30) days after written notice from theVillage;
provided, however, that such default or breach shall not constitute
an Event of Default if such default cannot be cured within said thirty
(30)days and Developer, within said thirty (30) days, initiates and
diligently pursues appropriate measures to remedy the default and
in any event (subject to Uncontrollable Circumstances) cures such
default within sixty (60)days after such notice.
B.VillageEvents of Default.The following shall be Events of Default with
respect to this Agreement:
387385_4 21
1.If any material representation made by theVillagein this Agreement,
or in any certificate, notice, demand or request made by a Party
hereto, in writing and delivered to Developer pursuant to or in
connection with any of said documents, shall prove to be untrue or
incorrect in any material respect as of the date made; provided,
however, that such default shall constitute an Event of Default only if
theVillagedoes not remedy the default, within thirty(30) days after
written notice from Developer and in any event (subject to
Uncontrollable Circumstances) cures such default within ninety (90)
days after such notice.
2.Default by theVillagein the performance or breach of any material
covenant contained in this Agreement concerning the existence,
structure or financial condition of theVillage; provided, however, that
such default or breach shall constitute an Event of Default only if the
Villagedoes not,within thirty (30) days after written notice from
Developer, initiate and diligently pursue appropriate measures to
remedy the default and in any event (subject to Uncontrollable
Circumstances) cures such default within forty five(45) days after
such notice.
3.Default by theVillagein the performance or breach of any material
covenant, warranty or obligation contained in this Agreement;
provided, however, that such default shall not constitute an Event of
Default if theVillage, commences cure within thirty (30) days after
written notice from Developer and in any event cures such default
within forty five(45) days after such notice, subject to Uncontrollable
Circumstances.
4.A material representation or warranty of theVillageis not true for a
period of thirty (30) days after written notice from Developer;
provided, however, that such default or breach shall not constitute
an Event of Default if such default cannot be cured within said thirty
(30) days and theVillage, within said thirty (30) days, initiates and
diligently pursues appropriate measures to remedy the default and
in any event (subject to Uncontrollable Circumstances) cures such
default within forty five(45) days after such notice.
C.Remedies for Default.In the case of an Event of Default hereunder:
1.The defaulting Party shall, upon written notice from the non-
defaulting Party, take prompt action to cure or remedy such Event of
Default. If, in such case, any monetary Event of Default is not cured,
or if in the case of a non-monetary Event of Default, except for
circumstances contemplated under Section XVI.A.1.,action is not
taken or not diligently pursued, or if action is taken and diligently
387385_4 22
pursued but such Event of Default or breach shall not be cured or
remedied within the cure periods specified therefor, unless extended
by mutual agreement, the non-defaulting Party may institute such
proceedings as may be necessary or desirable in its opinion to cure
or remedy such default or breach, including, but not limited to,
proceedings to compel specific performance of the defaulting Party’s
obligations under this Agreement.
2.In case a Party shall have proceeded to enforce its rights under this
Agreement and such proceedings shall have been discontinuedor
abandoned for any reason, then, and in every such case, the Parties
shall be restored respectively to their several positions and rights
hereunder, and all rights, remedies and powers of Developer and the
Villageshall continue as though no such proceedings had been
taken.
3.In no event shall either Party be liable to the other for any
consequential or punitive damages suffered as a result of a default
under this Agreement.
D.Agreement to Pay Attorneys’ Fees and Expenses.In the event an Event
of Default is not cured within the applicable cure periods and the Parties
employ an attorney or attorneys or incur other expenses for the collection
of the payments due under this Agreement or the enforcement of
performance or observance of any obligation or agreement herein
contained, the non-prevailing Party shall pay, on demand, the prevailing
Party’s reasonable fees of such attorneys and such other reasonable
expenses in connection with such enforcement action.
E.No Waiver byDelay or Otherwise.Any delay by any Party in instituting
or prosecuting any actions or proceedings or otherwise asserting its rights
under this Agreement shall not operate to act as a waiver of such rights or
to deprive it of or limit such rights in any way (it being the intent of this
provision that any Party should not be deprived of or limited in the exercise
of the remedies provided in this Agreement because of concepts of waiver,
laches or otherwise); nor shall any waiver in fact made with respect to any
specific Event of Default be considered or treated as a waiver of the rights
by the waiving Party of any future Event of Default hereunder, except to the
extent specifically waived in writing. No waiver made with respect to the
performance, nor the manner or time thereof, of any obligation or any
condition under the Agreement shall be considered a waiver of any rights
except if expressly waived in writing.
F.Rights and Remedies Cumulative.The rights and remedies of the Parties
to this Agreement, whether provided by law or by this Agreement, shall be
cumulative, and the exercise of any one or more of such remedies shall not
387385_4 23
preclude the exercise by such Party, at that time or different times, of any
other such remedies for the same Event of Default.
G.Legal and Other Fees and Expenses.Other than for demands, suits,
costs, expenses (including reasonable attorney's fees), actions or other
proceedings covered by Section XV. above, in the event that any third party
or parties institute any legal proceedings against the Developer and/or the
Village, which relate to the terms of this Agreement, then, in that event, the
Parties shall cooperate in the defense of any such lawsuit, with each Party
assuming, fully and vigorously, its own defense of such lawsuit, and all costs
and expenses of its own defense, of whatever nature (including attorney’s
fees).
XVII.EQUAL EMPLOYMENT OPPORTUNITY
A.No Discrimination.Developer shall comply with all federal, state and local
laws relating to equal employment opportunity. To the extent permitted by
law, Developer shall use reasonable efforts to employ qualified residents of
theVillage as to any direct hires by the Developer, if applicable.
B.Advertisements.Developer shall, in all solicitations or advertisements for
employees placed by or on behalf of Developer, if applicable, state that all
qualified applicants will receive consideration for employment without
regard to race, color, religion, sex or national origin.
C.Contractors.Any contracts made by Developer with any general
contractor, agent, employee, independent contractor or any other Person in
connection with the Project shall contain language similar to that recited in
subsections A. and B. above. The Developer shall make reasonable efforts
to incorporate language similar to that recited in subsections A. and B. in
any leases made by Developer in connection with the Project.
XVIII.MISCELLANEOUS PROVISIONS
A.Cancellation.Notwithstanding any terms in this Agreement to the contrary,
in the event Developer or theVillageshall be prohibited, in any material
respect, from performing covenants and agreements or enjoying the rights
andprivileges herein contained, or contained in the TIF Plan, including
Developer's duty to build the Project and operate the Project, by the order
of any court of competent jurisdiction, or in the event that all or any part of
the Act or any ordinance adopted by theVillagein connection with the
Project, shall be declared invalid or unconstitutional, in whole or in part, by
a final decision of a court of competent jurisdiction and such declaration
shall materially affect the Project or the covenants and agreements or rights
and privileges of Developer or theVillage, then and in any such event, the
387385_4 24
Party so materially affected may, at its election, cancel or terminate this
Agreement in whole (or in part with respect to that portion of the Project
materially affected) by giving written notice thereof to the other Parties
withinone hundred twenty(120) days after such final decision or
amendment. Further, the cancellation or termination of this Agreement shall
have no effect on the authorizations granted to Developer for buildings, or
the remodeling of any building, permitted and under construction, to the
extent permitted by said court order; and the cancellation or termination of
this Agreement shall have no effect on perpetual easements contained in
any recorded, properly executed document.
B.Notices.All notices, certificates, approvals, consents or other
communications desired or required to be given hereunder shall be given in
writing at the addresses set forth below, by any of the following means: (1)
personal service, (2) electronic communications, whether by electronic mail,
telex, telegram or telecopy, but only if followed up, within one (1) business
day, by another method of notice, (3) overnight courier, or (4) registered or
certified first class mail, postage prepaid, return receipt requested.
If to Village:Arlene Juracek, Mayor
Village of Mount Prospect
50 S. Emerson Street
Mount Prospect, Illinois 60056
Email: ajuracek@mountprospect.org
With a copy to:Michael Cassady, Village Manager
Village of Mount Prospect
50 S. Emerson Street
Mount Prospect, Illinois 60056
Email: mcassady@mountprospect.org
and:Klein, Thorpe and Jenkins, Ltd.
20 North Wacker Drive, Suite 1660
Chicago, Illinois60606-2903
Attention: Lance C. Malina /Gregory T. Smith
Email: lcmalina@ktjlaw.com/gtsmith@ktjlaw.com
If to Developer:Park Terrace Mount Prospect, LLC
Attn: Richard Bondarowicz
Email: rich@smartgroupchicago.com
11 W. College Drive, Unit J
Arlington Heights, Illinois 60004
With a copy to:John A. Kukankos
One S. Wacker, Ste. 2500
387385_4 25
Chicago, IL 60606
Email: john.kukankoslawpc@pretzel-stouffer.com
The Parties, by notice hereunder, may designate any further or different
addresses to which subsequent notices, certificates, approvals, consents or
other communications shall be sent. Any notice, demand or request sent
pursuant to either clause (1) or (2) hereof shall be deemed received upon
such personal service or upon dispatch by electronic means. Any notice,
demand or request sent pursuant to clause (3) shall be deemed received
on the day immediately following deposit with the overnight courier, and any
notices, demands or requests sent pursuant to clause (4) shall be deemed
received forty-eight (48) hours following deposit in the mail.
C.Time is of the Essence.Time is of the essence of this Agreement.
Notwithstanding the foregoing, if the date for performance of any of the
terms, conditions and provisions of this Agreement shall fall on a Saturday,
Sunday or legal holiday, then the date of such performance shall be
extended to the next business day.
D.Integration.Except as otherwise expressly provided herein, this
Agreement supersedes all prior agreements, negotiations and discussions
relative to the subject matter hereof and is a full integration of the agreement
of the Parties.
E.Counterparts.This Agreement may be executed in any number of
counterparts, but in no event less than two (2) counterparts, each of which
shall be an original and each of which shall constitute but one and the same
Agreement.
F.Recordation of Agreement.The Parties agree to record this Agreement
with the Cook County Recorder’s Officeagainst title to the Property. The
Villageand the Developer shall equally share the cost of the recording
charges.The Developer’s rights and obligations in this Agreement are
covenants running with title to the Property and successor owners of the
Property shall be and are bound by this Agreement to the same extent as
Developer.
G.Severability.If any provision of this Agreement, or any Section, sentence,
clause, phrase or word, or the application thereof, in any circumstance, is
held to be invalid, the remainder of this Agreement shall be construed as if
such invalid part were never included herein, and this Agreement shall be
and remain valid and enforceable to the fullest extent permitted by law.
H.Choice of Law / Venue.This Agreement shall be governed by and
construed in accordance with the laws of the State of Illinois,and any court
387385_4 26
proceedings between the Parties hereto shall be brought in Cook County,
Illinois.
I.Entire Contract and Amendments.This Agreement (together with the
exhibits attached hereto) is the entire contract between theVillageand the
Developer relating to the subject matter hereof, supersedes all prior and
contemporaneous negotiations, understandings and agreements, written or
oral, between theVillageand the Developer, and may not be modified or
amended except by a written instrument executed by the Parties hereto.
J.Third Parties.Nothing in this Agreement, whether expressed or implied, is
intended to confer any rights or remedies under or by reason of this
Agreement on any other Person other than theVillageand the Developer,
nor is anything in this Agreement intended to relieve or discharge the
obligation or liability of any thirdparties to theVillageand the Developer,
nor shall any provision give any third parties any rights of subrogation or
action over or against theVillageor the Developer. This Agreement is not
intended to and does not create any third party beneficiary rights
whatsoever.
K.Waiver.Any Party to this Agreement may elect to waive any right or remedy
it may enjoy hereunder, provided that no such waiver shall be deemed to
exist unless such waiver is in writing. No such waiver shall obligate the
waiver of any other right or remedy hereunder, or shall be deemed to
constitute a waiver of other rights and remedies provided pursuant to this
Agreement.
L.Cooperation and Further Assurances.TheVillageand the Developer
each covenant and agree that each will do,execute, acknowledge and
deliver or cause to be done, executed and delivered, such agreements,
instruments and documents supplemental hereto and such further acts,
instruments, pledges and transfers as may be reasonably required for the
better clarifying,assuring, mortgaging, conveying, transferring, pledging,
assigning and confirming unto theVillageor the Developer, or other
appropriate Persons, all and singular the rights, property and revenues
covenanted, agreed, conveyed, assigned, transferred and pledged under or
in respect of this Agreement.
M.No Joint Venture, Agency or Partnership Created.Nothing in this
Agreement, or any actions of the Parties to this Agreement, shall be
construed by the Parties or any third party to create the relationship of a
partnership, agency or joint venture between or among such Parties.
N.No Personal Liability of Officials of theVillageor the Developer.No
covenant or agreement contained in this Agreement shall be deemed to be
the covenant or agreement of the Corporate Authorities,Village Manager,
387385_4 27
any elected official, officer, partner, member, shareholder, manager,
director, agent, employee or attorney of theVillageor the Developer, in his
or her individual capacity, and no elected official, officer, partner, member,
director, agent, employee or attorney of theVillageor the Developer shall
be liable personally under this Agreement or be subject to any personal
liability or accountability by reason of or in connection with or arising out of
the execution, delivery and performance of this Agreement, or any failure in
that connection.
O.Repealer.To the extent that any ordinance, resolution, rule, order or
provision of theVillage's code of ordinances, or any part thereof, is in
conflict with the provisions of this Agreement, the provisions of this
Agreement shall be controlling, to the extent lawful.
P.Term.This Agreement shall remain in full force and effect until the
termination of the Redevelopment Project Area.
Q.Estoppel Certificates.Each of the Parties hereto agrees to provide the
other, upon not less than fifteen (15) days prior request, a certificate
(“Estoppel Certificate”) certifying that this Agreement is in full force and
effect (unless such is not the case, in which case such Party shall specify
the basis for such claim), that the requesting Party is not in default of any
term, provision or condition of this Agreement beyond any applicable notice
and cure provision (or specifying each such claimed default) and certifying
such other matters reasonably requested by the requesting Party. If either
Party fails to comply with this provision within the time limit specified, and if,
after an additional seven (7) days’ notice there still is no compliance, then
said non-complying Party shall be deemed to have appointed the other as
its attorney-in-fact for execution of same on its behalf as to that specific
request only.
R.Assignment.This Agreement, and the rights and obligations hereunder,
may not be assigned by Developer prior to the expiration of one (1) year
from the date the Village issues Developer a Certificate of Project
Completion, unless the Villageconsents in writing to such assignmentwhich
consent shall not be unreasonably withheld or delayed, and unless the
assignee consents in writing to be bound by the terms of this Agreement.
Thereafter, Developer may sell or transfer the Property,and assign its right,
duties and obligations hereunder, without the consent or approval of the
Village.
S.Municipal Limitations.AllVillagecommitments hereunder are limited to
the extent required by law.
387385_4 28
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be
executed on or as of the day and year first above written.
VILLAGE OF MOUNT PROSPECT,
an Illinois home rule municipal corporationATTEST:
By:_______________________________By:________________________
Arlene Juracek,Mayor Karen Agoranos, Deputy Village Clerk
________________________________
a ___________ __________________
By:_______________________________
________________,its _________
PARK TERRACE MOUNT PROSPECT, LLC
By:__________________________
Member
By:__________________________
Member
387385_4 29
ACKNOWLEDGMENT
State of Illinois)
) SS
County of Cook)
I, the undersigned, a Notary Public, in and for the County and State aforesaid, DO
HEREBY CERTIFY that Arlene Juracek and Karen Agoranos, personally known to me to
be the Mayor and Deputy Village Clerk of the Village of Mount Prospect, and personally
known to me to be the same persons whose names are subscribed to the foregoing
instrument, appeared before me this day in person and severally acknowledged that as
such Mayor and Deputy Village Clerk, they signed and delivered the said instrument and
caused the corporate seal of said municipal corporation to be affixed thereto, pursuant to
authority given by the Board of Trustees of said Illinois home rule municipal corporation,
as their free and voluntary act, and as the free and voluntary act and deed of said Illinois
home rule municipal corporation, for the uses and purposes therein set forth.
GIVEN under my hand and official seal, this _____ day of _______________,
201_.
_____________________________________
Notary Public
387385_4 30
ACKNOWLEDGMENT
State ofIllinois)
) SS
County of Cook)
I, the undersigned, a Notary Public, in and for the County and State aforesaid, DO
HEREBY CERTIFY that Richard Bondarowicz and Slawomir Miodowski, personally
known to me to be the Membersof Park Terrace Mount Prospect LLC , and personally
known to me to be the same personswhose names aresubscribed to the foregoing
instrument, appeared before me this day in person and severally acknowledged that as
such they signed and delivered the said instrument and caused the seal of said limited
liability company to be affixed thereto, pursuant to authority given by the members of
said limited liability company , as their free and voluntary act, and as the free and
voluntary acts and deeds of said limited liability company, for the uses and purposes
therein set forth.
GIVEN under my handand official seal, this _____ day of _______________,
201_.
________________________________
Notary Public
387385_4 31
EXHIBIT A-1
Prospect and MainTIF District
Legal Description
THAT PART OF SECTIONS 11 & 12 IN TOWNSHIP 41 NORTH, RANGE 11 EAST AND
SECTIONS 33 & 34 IN TOWNSHIP 42 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL
MERIDIAN, IN COOK COUNTY, ILLINOIS, BOUNDED AND DESCRIBED ASFOLLOWS:
BEGINNING AT THE INTERSECTION OF THE EAST LINE OF THE SOUTHEAST QUARTER
OF SECTION 12 AFORESAID, BEING ALSO THE CENTER LINE OF MT. PROSPECT ROAD,
AND THE SOUTHWESTERLY LINE OF NORTHWEST HIGHWAY, BEING ALSO THE
NORTHEASTERLY LINE OF THE CHICAGO & NORTHWESTERN RAILWAY RIGHT OF WAY;
THENCE SOUTH ALONG SAID EAST LINE OF THESOUTHEAST QUARTER OF SECTION 12
AND THE CENTER LINE OF MT. PROSPECT ROADTO THE SOUTHWESTERLY LINE OF
THE CHICAGO & NORTHWESTERN RAILWAY RIGHTOF WAY, BEING ALSO THE
NORTHEASTERLY LINE OF PROSPECT AVENUE;
THENCE SOUTHWESTERLYTO THE INTERSECTIONOF THE WEST LINE OF MT.
PROSPECT ROAD WITH THE SOUTHWESTERLY LINE OF PROSPECT AVENUE;
THENCE NORTHWESTERLYALONG SAID SOUTHWESTERLY LINE OF PROSPECT
AVENUE TO THE WEST LINE OF THE EAST 205 FEET OF LOT 1 IN GLEICH’S INDUSTRIAL
PARK, A SUBDIVISION OF PART OF THE WEST HALF OF THE NORTHEAST QUARTER AND
PART OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SECTION 12AFORESAID;
THENCE SOUTH ALONG SAID WEST LINE OF THEEAST 205 FEET OF LOT 1 IN GLEICH’S
INDUSTRIAL PARK TO THE SOUTHERLY LINE OFLOT 1 AFORESAID;
THENCE NORTHWESTERLY ALONG SAID SOUTHERLY LINE OF LOT 1 IN GLEICH’S
INDUSTRIAL PARK TO THE EAST LINE OF SCHOOL STREET;
THENCE SOUTH ALONG SAID EAST LINE OF SCHOOL STREET TO THE NORTHEASTERLY
LINE OF LINCOLN STREET;
THENCE SOUTHEASTERLYALONG SAID NORTHEASTERLY LINE OF LINCOLN STREET
AND THE SOUTHEASTERLY EXTENSION THEREOF TO THE EAST LINE OF WILLIAM
STREET;
THENCE SOUTH ALONG SAID EAST LINE OF WILLIAM STREET TO THE SOUTH LINE OF
SHA-BONEE TRAIL;
THENCE WEST ALONG SAID SOUTH LINE OF SHA-BONEE TRAIL TO THE EAST LINE OF
SCHOOL STREET;
THENCE SOUTH ALONG SAID EAST LINE OF SCHOOL STREET TO THE SOUTH LINE OF
COUNCIL TRAIL;
387385_4 32
THENCE WEST ALONG SAID SOUTH LINE OF COUNCIL TRAIL TO THE SOUTHERLY
EXTENSION OF THE EAST LINE OF LOT 12 IN ELLENDALE, A SUBDIVISION IN THE
SOUTHWEST QUARTER OF SECTION 12 AFORESAID;
THENCE NORTH ALONG SAID SOUTHERLY EXTENSION AND THE EAST LINE OF LOT 12
IN ELLENDALE TO THE NORTH LINE THEREOF;
THENCE WEST ALONG SAID NORTH LINE OF LOT12 IN ELLENDALE TO THE EAST LINE
OF LOT 3 IN ELLENDALE AFORESAID;
THENCE NORTH ALONG SAIDEAST LINE OF LOT 3 IN ELLENDALE AND THENORTHERLY
EXTENSION THEREOF TOTHE NORTH LINE OF MOEHLING DRIVE;
THENCE WEST ALONG SAID NORTH LINE OF MOEHLING DRIVE AND THE WESTERLY
EXTENSION THEREOF TOTHE WEST LINE OF MAPLE STREET;
THENCE NORTH ALONG SAID WEST LINE OF MAPLE STREET TO THE NORTH LINEOF
THE SOUTH 270 FEET OF LOT 2 IN ETHEL BUSSE’S SUBDIVISION OF PART OF THE EAST
HALF OF THE NORTHWEST QUARTER OF SECTION12 AFORESAID;
THENCE WEST ALONG SAID NORTH LINE OF THESOUTH 270 FEET OFLOT 2 IN ETHEL
BUSSE’S SUBDIVISION TO THE EAST LINE OF LOTS 35 THRU 42 IN BUSSE’S
RESUBDIVISION OF LOT“A” IN BLOCK 11 IN BUSSE & WILLE’S RESUBDIVISION IN MT.
PROSPECT AFORESAID;
THENCE NORTH ALONG SAID EAST LINE OF LOTS 35 THRU 42 IN BUSSE’S
RESUBDIVISION TO THE EAST LINE OF LOT 2 IN MILLER RESUBDIVISION OF LOTS1 TO
3 & 43 IN BUSSE’S SUBDIVISION OF LOT “A”IN BLOCK 11 IN BUSSE & WILLE’S
RESUBDIVISION IN MT.PROSPECT AFORESAID;
THENCE NORTH ALONG SAID EAST LINE OF LOT2 IN MILLER RESUBDIVISION TO THE
SOUTHWESTERLY LINE OF PROSPECT AVENUE;
THENCE NORTHWESTERLYALONG SAID SOUTHWESTERLY LINE OF PROSPECT
AVENUE TO THE WESTERLY LINE OF LOT 2 IN MILLER RESUBDIVISIONAFORESAID;
THENCE SOUTHEASTERLYALONG SAID WESTERLYLINE OF LOT 2 IN MILLER
RESUBDIVISION TO A BEND THEREIN;
THENCE SOUTH ALONG SAID WESTERLY LINE OFLOT 2 IN MILLER RESUBDIVISION TO
THE NORTH LINE OF LOT 3 IN MILLER RESUBDIVISION AFORESAID;
THENCE EAST ALONG SAID NORTH LINE OF LOT3 IN MILLER RESUBDIVISION TO THE
MOST EASTERLY WEST LINE OF LOT 2 IN MILLER RESUBDIVISION AFORESAID;
THENCE SOUTH ALONG SAID MOST EASTERLY WEST LINE OF LOT 2 IN MILLER
RESUBDIVISION TO A BEND THEREIN;
THENCE SOUTHEASTERLYALONG SAID MOST EASTERLY WEST LINE OF LOT 2 IN
MILLER RESUBDIVISIONTO THE EAST LINE THEREOF, AND THE NORTH LINE OF LOT 42
IN BUSSE’S RESUBDIVISION AFORESAID;
387385_4 33
THENCE WEST ALONG SAID NORTH LINE OF LOT42 IN BUSSE’S RESUBDIVISION AND
THE WESTERLY EXTENSION THEREOF TO THE WEST LINE OF EMERSON STREET;
THENCE NORTH ALONG SAID WEST LINE OF EMERSON STREETTO THE SOUTH LINE OF
LOT 11 IN BUSSE’S RESUBDIVISION AFORESAID;
THENCE WEST ALONG SAID SOUTH LINE OF LOT11 IN BUSSE’S RESUBDIVISION TO THE
EAST LINE OF LOTS 5 THRU 9 IN BLOCK 1 INMEIER’S ADDITION TOMT. PROSPECT IN
THE NORTHWEST QUARTER OF SECTION AFORESAID, LYING SOUTH OF THE RIGHT OF
WAY OF THE CHICAGO &NORTHWESTERN RAILWAY;
THENCE NORTH ALONG SAID EAST LINE OF LOTS 5 THRU 9 IN BLOCK 1 IN MEIER’S
ADDITION TO MT. PROSPECT TO THE NORTH LINE OF LOT 5 AFORESAID;
THENCE WEST ALONG SAID NORTH LINE OF LOT5 IN BLOCK 1 IN MEIER’S ADDITION TO
MT. PROSPECT AND THEWESTERLY EXTENSION THEREOF TO THE WEST LINE OF MAIN
STREET;
THENCE NORTH ALONG SAID WEST LINE OF MAIN STREET TO THE NORTH LINE OF LOT
24 IN BLOCK 4 IN MEIER’S ADDITION TO MT.PROSPECT AFORESAID;
THENCE WEST ALONG SAID NORTH LINE OF LOT 24 IN BLOCK 4 IN MEIER’S ADDITION
TO MT. PROSPECT TO THE WEST LINE OF THE 20 FOOT WIDE ALLEY EAST OF WILLE
STREET;
THENCE NORTH ALONG SAID WEST LINE OF THE20 FOOT WIDE ALLEY EAST OF WILLE
STREET TO THE SOUTH LINE OF EVERGREEN AVENUE;
THENCE WEST ALONG SAID SOUTH LINE OF EVERGREEN AVENUE TO THEWEST LINE
OF WILLE STREET;
THENCE NORTH ALONG SAID WEST LINE OF WILLE STREET TO THE SOUTH LINE OF LOT
13 IN BUSSE’S RESUBDIVISION OF LOTS 1 TO6, INCLUSIVE, OF RESUBDIVISIONOF LOTS
1 TO 6, INCLUSIVE, IN BLOCK 4, ALOS OF LOTS 2 & 3 IN BLOCK 5, ALL OF BLOCK 6, LOT
13 TO 24, INCLUSIVE,IN BLOCK 7, LOTS 17TO 20 IN BLOCK 8 ALL IN MEIER’S ADDITION
TO MT. PROSPECT IN THE NORTHWEST QUARTEROF SECTION 12 AFORESAID;
THENCE WEST ALONG SAID SOUTH LINE OF LOT 13 IN BUSSE’S RESUBDIVISION TO THE
WEST LINE OF LOTS 13AND 14 IN BUSSE’S RESUBDIVISION;
THENCE NORTH ALONG SAID WEST LINE OF LOTS 13 AND 14 IN BUSSE’S
RESUBDIVISION TO THESOUTHWESTERLY LINE OF THE 16 FOOT WIDE ALLEY
SOUTHWESTERLY OF PROSPECT AVENUE;
THENCE NORTHWESTERLYALONG SAID SOUTHWESTERLY LINE OF THE 16FOOT WIDE
ALLEY SOUTHWESTERLY OF PROSPECT AVENUE AND THE NORTHWESTERLY
EXTENSION THEREOF TOTHE WEST LINE OF PINE STREET;
THENCE NORTH ALONG SAID WEST LINE OF PINE STREET TO THE SOUTHERLYLINE OF
THE 16 FOOT WIDE ALLEY SOUTHWESTERLY OF PROSPECT AVENUE;
387385_4 34
THENCE WEST AND NORTHWESTERLY ALONG SAIDSOUTHERLY LINE OF THE 16 FOOT
WIDE ALLEY SOUTHWESTERLY OF PROSPECT AVENUE AND THE NORTHWESTERLY
EXTENSION THEREOF TOITS INTERSECTION WITH THE SOUTHLINE OF BUSSE
AVENUE;
THENCE WEST ALONG SAID SOUTH LINE OF BUSSE AVENUE TO THE SOUTHERLY
EXTENSION OF THE WEST LINE OF THE 20 FOOT WIDE ALLEY WEST OFELMHURST
AVENUE;
THENCE NORTH ALONG SAID SOUTHERLY EXTENSION AND THE WEST LINE OF THE 20
FOOT WIDE ALLEY WESTOF ELMHURST AVENUE TO THE SOUTHWESTERLYLINE OF
THE 16 FOOT WIDE ALLEY SOUTHWESTERLY OF PROSPECT AVENUE;
THENCE NORTHWESTERLYALONG SAID SOUTHWESTERLY LINE OF THE 16FOOT WIDE
ALLEY SOUTHWESTERLY OF PROSPECT AVENUE AND THE NORTHWESTERLY
EXTENSION THEREOF TOTHE WEST LINE OF I-OKA AVENUE;
THENCE NORTH ALONG SAID WEST LINE OF I-OKA AVENUE TO THE SOUTHERLY LINE
OF THE 16 FOOT WIDE ALLEY SOUTHWESTERLY OF PROSPECT AVENUE;
THENCE WEST AND NORTHWESTERLY ALONG SAIDSOUTHERLY LINE OF THE 16 FOOT
WIDE ALLEY SOUTHWESTERLY OF PROSPECT AVENUE AND THE NORTHWESTERLY
EXTENSION THEREOF TOTHE WEST LINE OF HI-LUSI AVENUE;
THENCE NORTH ALONG SAID WEST LINE OF HI-LUSI AVENUE TO THE SOUTHWESTERLY
LINE OF PROSPECT AVENUE;
THENCE NORTHWESTERLYALONGSAID SOUTHWESTERLY LINE OF PROSPECT
AVENUE TO THE SOUTH LINE OF CENTRAL ROAD;
THENCE WEST ALONG SAID SOUTH LINE OF CENTRAL ROAD TO THE EAST LINE OF LOT
8 IN H.ROY BERRY CO.S’ COLONIAL MANOR, ASUBDIVISION OF PARTOF THE
NORTHEAST QUARTER OFSECTION 11 AND PART OF THE NORTHWEST QUARTER OF
SECTION 12 AFORESAID;
THENCE SOUTH ALONG SAID EAST LINE OF LOT8 IN H.ROY BERRY CO.S’ COLONIAL
MANOR AND THE SOUTHERLY EXTENSION THEREOF TO THE SOUTH LINE OF THE 16
FOOT WIDE ALLEY SOUTH OF CENTRAL ROAD;
THENCE WEST ALONG SAID SOUTH LINE OF THE 16 FOOT WIDE ALLEY SOUTH OF
CENTRAL ROAD TO THE WEST LINE OF THE EAST HALF OF THE NORTHEAST QUARTER
OF SECTION 11 AFORESAID;
THENCE NORTH ALONG SAID WEST LINE OF THEEAST HALF OF THE NORTHEAST
QUARTER OF SECTION 11 TO THE SOUTH LINE OF CENTRAL ROAD;
THENCE WEST ALONG SAID SOUTH LINE OF CENTRAL ROAD TO THE SOUTHERLY
EXTENSION OF THE WEST LINE OF MILLERS LANE;
387385_4 35
THENCE NORTH ALONG SAID SOUTHERLY EXTENSION AND THE WEST LINE OF
MILLERS LANE TO THE WESTERLY EXTENSION OF THE SOUTH LINE OF LOT 11 IN
MILLERS STATION SUBDIVISION, A RESUBDIVISION OF LOT 1 IN TRADE SERVICE
PUBLICATIONS SUBDIVISION AND PART OF THESOUTHEAST QUARTER OF THE
SOUTHEAST QUARTER OFSECTION 33 AFORESAID;
THENCE EAST ALONG SAID WESTERLY EXTENSION AND THE SOUTHLINE OF LOT 11 IN
MILLERS STATION SUBDIVISION AND THE EASTERLY EXTENSION THEREOF TO THE
EAST LINE OF CATHY LANE;
THENCE NORTH ALONG SAID EAST LINE OF CATHY LANE TO THE EAST LINE OF LOT 12
IN MILLERS STATION SUBDIVISION AFORESAID;
THENCE NORTH ALONG SAIDEAST LINE OF LOT 12IN MILLERS STATION SUBDIVISION
AND THE NORTHERLY EXTENSION THEREOF TO THE SOUTHWESTERLY LINE OF THE
CHICAGO & NORTHWESTERN RAILWAY RIGHT OF WAY;
THENCE SOUTHEASTERLYALONG SAID SOUTHWESTERLY LINE OF THE CHICAGO &
NORTHWESTER RAILWAY RIGHT OF WAY TO THE EAST LINE OF THE SOUTHEAST
QUARTER OF SECTION 33 AFORESAID;
THENCE NORTH ALONG THE EAST LINE OF THE SOUTHEAST QUARTER OFSECTION 33
AFORESAID TO THE WESTERLY EXTENSION OF THE NORTH LINE OF HENRY STREET;
THENCE EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINE OF HENRY
STREET TO THE EAST LINE OF FAIRVIEW AVENUE;
THENCE SOUTH ALONG SAID EAST LINE OF FAIRVIEW AVENUE TO THE
NORTHEASTERLY LINE OF THE 16 FOOT WIDE ALLEY NORTHEASTERLY OF
NORTHWEST HIGHWAY;
THENCE SOUTHEASTERLYALONG SAIDNORTHEASTERLY LINE OF THE 16 FOOT WIDE
ALLEY NORTHEASTERLY OF NORTHWEST HIGHWAYTO THE WEST LINE OFPROSPECT
MANOR AVENUE;
THENCE EAST PERPENDICULAR TO THE WEST LINE OF FAIRVIEW AVENUE TO THE
EAST LINE OF PROSPECT MANOR AVENUE;
THENCE SOUTH ALONG SAID EAST LINE OF PROSPECT MANOR AVENUE TO THE
NORTH LINE OF WALNUTSTREET;
THENCE EAST ALONG SAID NORTH LINE OF WALNUT STREET AND THE EASTERLY
EXTENSION THEREOF TOTHE EAST LINE OF RIDGE AVENUE;
THENCE SOUTH ALONG SAID EAST LINE OF RIDGE AVENUE TO THE NORTH LINE OF
LOT 1 IN FRIEDRICH’SSUBDIVISION OF LOTS4 & 5 IN BLOCK 25 IN PROSPECT MANOR,
A SUBDIVISION OF THESOUTH 3/4 OF THE WEST HALF OF THE WEST HALF OF SECTION
34 AFORESAID;
THENCE EAST ALONG SAID NORTH LINE OF LOT1 IN FRIEDRICH’S SUBDIVISION TO THE
WEST LINE OF ELMHURST AVENUE;
387385_4 36
THENCE NORTH ALONG SAID WEST LINE OF ELMHURST AVENUE TO THE WESTERLY
EXTENSION OF THE NORTH LINE OF THE PLAT OF CONSOLIDATION OF THE WEST 70
FEET OF LOTS 1 THRU 10 IN BLOCK 3 AND PART OF BLOCK 4 IN THEERNST BUSSE
ADDITION TO MT. PROSPECT IN THE EAST HALF OF THE SOUTHWEST QUARTER OF
SECTION 34 AFORESAID;
THENCE EAST ALONG SAID WESTERLY EXTENSION AND THE NORTH LINEOF THE PLAT
OF CONSOLIDATION TO THE EAST LINE OF LOT1 IN THE PLAT OF CONSOLIDATION
AFORESAID;
THENCE SOUTH ALONG SAID EAST LINE LOT 1IN THE PLAT OF CONSOLIDATION TO THE
NORTH LINE OF CENTRAL ROAD;
THENCE EAST ALONG SAID NORTH LINE OF CENTRAL ROAD TO THE EAST LINE OF PINE
STREET;
THENCE SOUTH ALONG SAID EAST LINE OF PINE STREET TO THE NORTHEASTERLY
LINE OF NORTHWEST HIGHWAY;
THENCE SOUTHEASTERLYALONG SAID NORTHEASTERLY LINE OF NORTHWEST
HIGHWAY TO THE WESTERLY LINE OF LOT 3 INCLOCK TOWER PLACE RESUBDIVISION
OF LOTS 18 & 19 AND THE NORTH 22 FEET OFLOT 17 IN BLOCK 2 OF BUSSE & WILDE’S
RESUBDIVISION IN MT.PROSPECTTOGETHER WITH LOT “A” IN CORPORATE
SUBDIVISION NO. 8 VILLAGE OF MT. PROSPECT AND LOT 1 IN WILLE’S
RECONSOLIDATION IN THE NORTHWEST QUARTEROF SECTION 12 AFORESAID;
THENCE NORTHEASTERLYALONG SAID WESTERLYLINE OF LOT 3 IN CLOCK TOWER
PLACE RESUBDIVISION 38.06 FEET TO A BENDTHEREIN;
THENCE EAST ALONG SAID WESTERLY LINE OF LOT 3 IN CLOCK TOWERPLACE
RESUBDIVISION 28.07 FEET TO A BEND THEREIN;
THENCE NORTHEASTERLYALONG SAID WESTERLYLINE OF LOT 3 IN CLOCK TOWER
PLACE RESUBDIVISION 18.61 FEET TO A BENDTHEREIN;
THENCE EAST ALONG SAID WESTERLY LINE OF LOT 3 IN CLOCK TOWERPLACE
RESUBDIVISION 30.63 FEET TO A BEND THEREIN;
THENCE NORTH ALONG SAID WESTERLY LINE OFLOT 3 IN CLOCK TOWER PLACE
RESUBDIVISION 65.92 FEET TO THE NORTH LINE THEREOF;
THENCE EAST ALONG SAID NORTH LINE OF LOT 3 IN CLOCK TOWER PLACE
RESUBDIVISION TO THEWEST LINE OF WILLE STREET;
THENCE EAST TO THE EAST LINE OF WILLE STREET AT THE SOUTHWEST CORNER OF
LOT 1 IN PROSPECT PLACE PLAT OF RESUBDIVISION OF SUNDRY LOTSAND VACATED
ALLEYS OF VARIOUS SUBDIVISIONSIN THE WEST HALF OFTHE NORTHWEST QUARTER
OF SECTION 12 AFORESAID;
387385_4 37
THENCE EAST ALONG THE SOUTH LINE OF LOT 1 IN PROSPECT PLACE PLAT OF
RESUBDIVISION TO THEEAST LINE THEREOF;
THENCE NORTH ALONG SAID EAST LINE OF LOT1 IN PROSPECT PLACE PLAT OF
RESUBDIVISION TO THESOUTH LINE OF CENTRAL ROAD;
THENCE WEST ALONG SAID SOUTH LINE OF CENTRAL ROAD TO THE SOUTHERLY
EXTENSION OF THE WEST LINE OF LOT 1 IN TRAPANI’S RESUBDIVISION OF LOT “A” IN
BLOCK 1 IN THE ERNSTBUSSE ADDITION TO MT. PROSPECTAND LOT “A” IN HILLCREST
SUBDIVISION IN THE SOUTHWEST QUARTER OF SECTION 34 AFORESAID;
THENCE NORTH ALONG SAID SOUTHERLY EXTENSION AND THE WEST LINE OF LOT 1,
AND THE WEST LINE OFLOT 2 IN TRAPANI’S RESUBDIVISION AND THE NORTHERLY
EXTENSION THEREOF TOTHE NORTH LINE OF HENRY STREET;
THENCE EAST ALONG SAID NORTH LINE OF HENRY STREET TO THE EAST LINE OF MAIN
STREET;
THENCE SOUTH ALONG SAID EAST LINE OF MAIN STREET TO THE NORTH LINE OF
CENTRAL ROAD;
THENCE EAST ALONG SAID NORTH LINE OF CENTRAL ROAD TO THEEAST LINE OF
EMERSON STREET;
THENCE SOUTH ALONG SAID EAST LINE OF EMERSON STREET TO THE NORTH LINE OF
LOT 13 IN BLOCK 5 INBUSSE & WILLE’S RESUBDIVISION IN MT. PROSPECT IN THE EAST
HALF OF THE NORTHWEST QUARTER OF SECTION12 AFORESAID;
THENCE EAST ALONGSAID NORTH LINE OF LOT 13 IN BLOCK 5 INBUSSE & WILLE’S
RESUBDIVISION IN MT.PROSPECT TO THE EAST LINE THEREOF;
THENCE SOUTH ALONG SAID EAST LINE OF LOT13 IN BLOCK 5 IN BUSSE & WILLE’S
RESUBDIVISION IN MT.PROSPECT TO THE NORTH LINE OF BUSSE AVENUE;
THENCE EAST ALONG SAIDNORTH LINE OF BUSSEAVENUE TO THE EAST LINE OF
MAPLE STREET;
THENCE SOUTH ALONG SAID EAST LINE OF MAPLE STREET TO THE NORTH LINE OF
LOT 9 IN BLOCK 11 INBUSSE & WILLE’S RESUBDIVISION IN MT. PROSPECT AFORESAID;
THENCE EAST ALONG SAID NORTH LINE OF LOT 9 IN BLOCK 11 IN BUSSE& WILLE’S
RESUBDIVISION IN MT.PROSPECT TO THE EAST LINE THEREOF;
THENCE SOUTH ALONG SAID EAST LINE OF LOT9 IN BLOCK 11 IN BUSSE & WILLE’S
RESUBDIVISION IN MT.PROSPECT TO THE SOUTH LINE THEREOF;
THENCE SOUTHWESTERLYALONG SAID SOUTH LINE OF LOT 9 IN BLOCK11 IN BUSSE
& WILLE’S RESUBDIVISION IN MT. PROSPECT TO THE EAST LINE OF LOT 12 IN BLOCK 11
IN BUSSE & WILLE’S RESUBDIVISION IN MT. PROSPECT, BEING ALSOTHE WESTERLY
LINE OF VILLAGE COMMONS A PLANNED UNIT DEVELOPMENT OF LOTS 2, 3, 4 & OUT
LOT 1 IN TAX INCREMENT FINANCE SUBDIVISION NO. 1, A RESUBDIVISION OF LOTS A &
387385_4 38
B IN THE RESUBDIVISION OF LOTS 2 TO 6, PART OF LOT 1 IN THE SUBDIVISION OF
BLOCK 10, LOT 16 IN BUSSE’S SUBDIVISION,LOTS 13 TO 15 IN BLOCK 11 & PART OF
BLOCK 9 IN BUSSE & WILLE’S RESUBDIVISIONIN MT. PROSPECT IN THE NORTHWEST
QUARTER OF SECTION 12 AFORESAID;
THENCE SOUTH ALONG SAID WESTERLY LINE OFVILLAGE COMMONS A PLANNED UNIT
DEVELOPMENT 172.45 FEET TO A BEND THEREIN;
THENCE WEST ALONG SAID WESTERLY LINE OF VILLAGE COMMONS A PLANNED UNIT
DEVELOPMENT 4.63 FEET TO A BEND THEREIN;
THENCE SOUTH ALONG SAID WESTERLY LINE OFVILLAGE COMMONS A PLANNED UNIT
DEVELOPMENT 147.65 FEET TO A BEND THEREIN;
THENCE SOUTHWESTERLYALONG SAID WESTERLYLINE OF VILLAGE COMMONS A
PLANNED UNIT DEVELOPMENT TO THE NORTHEASTERLY LINE OF NORTHWEST
HIGHWAY;
THENCE SOUTHEASTERLYALONG SAID NORTHEASTERLY LINE OF NORTHWEST
HIGHWAY TO THE NORTHWESTERLY LINE OF LOT1 IN TAX INCREMENT FINANCE
SUBDIVISION NO. 1, ARESUBDIVISION OF PARTS OF BLOCKS 9, 10 & 11IN BUSSE &
WILLE’S RESUBDIVISION IN THE NORTHWEST QUARTER OF SECTION 12AFORESAID;
THENCE NORTHEASTERLYALONG SAID NORTHWESTERLY LINE OF LOT 1 IN TAX
INCREMENT FINANCE SUBDIVISION NO. 1 TO THE NORTHEASTERLY LINE THEREOF;
THENCE SOUTHEASTERLYALONG SAID NORTHEASTERLY LINE OF LOT 1 IN TAX
INCREMENT FINANCE SUBDIVISION NO. 1 TO THE NORTH LINE OF LOTA IN GEORGE R.
BUSSE’S RESUBDIVISION OF PART OF BLOCK 9IN BUSSE & WILLE’S RESUBDIVISION IN
THE NORTHWEST QUARTER OF SECTION 12 AFORESAID;
THENCE EAST ALONG SAID NORTH LINE OF LOTA IN GEORGE R. BUSSE’S
RESUBDIVISION AND THE EASTERLY EXTENSIONTHEREOF TO THE EASTLINE OF
SCHOOL STREET;
THENCE SOUTH ALONG SAID EAST LINE OF SCHOOL STREET TO THE NORTH LINE OF
THE SOUTH HALF OF LOT 33 IN MT. PROSPECT SUBDIVISION INSECTION 12 AFORESAID;
THENCE EAST ALONG SAID NORTH LINE OF THESOUTH HALF OF LOT 33 IN MT.
PROSPECT SUBDIVISIONAND THE EASTERLY EXTENSION THEREOF TO THE EAST LINE
OF THE 16 FOOT WIDE ALLEY EAST OF SCHOOLSTREET;
THENCE SOUTH ALONG SAID EAST LINE OF THE16 FOOT ALLEY EAST OF SCHOOL
STREET TO THE NORTH LINE OF LOT 1 IN BRUCE’S RESUBDIVISION IN MT. PROSPECT
OF LOTS 22 TO 27 IN BLOCK 20 IN MT. PROSPECT SUBDIVISION IN SECTION 12
AFORESAID;
THENCE EAST ALONG SAID NORTHLINE OF LOT 1 IN BRUCE’S RESUBDIVISION IN MT.
PROSPECT AND THE EASTERLY EXTENSION THEREOF TO THE EAST LINEOF OWEN
STREET;
387385_4 39
THENCE SOUTH ALONG SAID EAST LINE OF OWEN STREET TO THE NORTHWESTERLY
EXTENSION OF THE NORTHEASTERLY LINE OF THE 16 FOOT WIDE ALLEY
NORTHEASTERLY OF NORTHWEST HIGHWAY;
THENCE SOUTHEASTERLYALONG SAID NORTHWESTERLY EXTENSION AND THE
NORTHEASTERLY LINE OF THE 16 FOOT WIDE ALLEY NORTHEASTERLY OF
NORTHWEST HIGHWAY AND THE SOUTHEASTERLY EXTENSION THEREOF TOTHE EAST
LINE OF LOUIS STREET;
THENCE SOUTH ALONG SAID EAST LINE OF LOUIS STREET TO THE NORTHERLY LINE
OF THE 16 FOOT WIDE ALLEY NORTHEASTERLY OF NORTHWEST HIGHWAY;
THENCE EAST AND SOUTHEASTERLY ALONG SAIDNORTHERLY LINE OF THE 16 FOOT
WIDE ALLEY NORTHEASTERLY OF NORTHWEST HIGHWAY ANDTHE SOUTHEASTERLY
EXTENSION THEREOF TOTHE EAST LINE OF EDWARDS STREET;
THENCE SOUTH ALONG SAID EAST LINE OF EDWARDS STREET TO THE NORTH LINE OF
LINCOLN STREET;
THENCE EAST ALONG SAID NORTH LINE OF LINCOLN STREET TO THE NORTHERLY
EXTENSION OF THE EAST LINE OF LOT 1 IN OLIVER’S RESUBDIVISION OF LOTS 12 & 13
IN H. ROY BERRY COMPANY’S MAPLEWOOD HEIGHTS (EXCEPT THE SOUTHERLY 66
FEET FOR ROAD) ALSO BLOCK 26 IN BUSSE’S EASTERN ADDITION TO MT. PROSPECT
IN THE EAST HALF OF SECTION 12 AFORESAID;
THENCE SOUTH ALONG SAID NORTHERLY EXTENSION AND THE EASTLINE OF LOT 1 IN
OLIVER’S RESUBDIVISION TO THE NORTHEASTERLY LINE OF THE 16 FOOT WIDE ALLEY
NORTHEASTERLY OF NORTHWEST HIGHWAY;
THENCE SOUTHEASTERLYALONG SAID NORTHEASTERLY LINE OF THE 16FOOT WIDE
ALLEY NORTHEASTERLY OF NORTHWEST HIGHWAY TO THE EAST LINE OF GEORGE
STREET;
THENCE NORTH ALONG SAID EAST LINE OF GEORGE STREET TO THE NORTH LINE OF
LOT 17 IN MAPLEWOOD HEIGHTS, A SUBDIVISION NORTH OF THE RAILROAD IN THE
DIVISION OF THE SOUTHEAST QUARTER OF SECTION 12 AFORESAID;
THENCE EAST ALONG SAID NORTH LINE OF LOT17 IN MAPLEWOOD HEIGHTS TO THE
EAST LINE THEREOF;
THENCE SOUTH ALONG SAID EAST LINE OF LOT17 IN MAPLEWOOD HEIGHTS TO THE
NORTHEASTERLY LINE OF THE 16 FOOT WIDE ALLEY NORTHEASTERLY OF
NORTHWEST HIGHWAY;
THENCE SOUTHEASTERLYALONG SAID NORTHEASTERLY LINE OF THE 16FOOT WIDE
ALLEY NORTHEASTERLY OF NORTHWEST HIGHWAYTO THE WEST LINE OFLOT 65 IN
MAPLEWOOD HEIGHTS AFORESAID;
THENCE NORTH ALONG SAID WEST LINE OF LOT65 IN MAPLEWOOD HEIGHTS TO THE
NORTH LINE THEREOF;
387385_4 40
THENCE EAST ALONG SAID NORTH LINE OF LOT65 IN MAPLEWOOD HEIGHTS AND THE
EASTERLY EXTENSION THEREOF TO THE EAST LINE OF THE SOUTHEASTQUARTER OF
SECTION 12 AFORESAID, BEING ALSO THE CENTER LINE OF MT. PROSPECT ROAD;
THENCE SOUTH ALONG SAID EAST LINE OF THE SOUTHEAST QUARTER OF SECTION12
AFORESAID, BEING ALSO THE CENTER LINE OFMT. PROSPECT ROAD, TO THE
SOUTHWESTERLY LINE OF NORTHWEST HIGHWAY,BEING ALSO THE NORTHEASTERLY
LINE OF THE CHICAGO & NORTHWESTERN RAILWAY RIGHT OF WAY, ANDTHE POINT
OF BEGINNING;
EXCEPTING THEREFROM
THAT PART OF LOT 1 IN DESIDERATA SUBDIVISION OF BLOCK 1 IN BUSSE & WILLE’S
RESUBDIVISION IN MT.PROSPECT IN SECTION12 AFORESAID, LYINGNORTH OF A LINE
DESCRIBED AS FOLLOWS:
BEGINNING ON THE WEST LINE OF SAID LOT 1AT POINT246.07 FEET SOUTH OF THE
NORTHWEST CORNER THEREOF;
THENCE EAST PERPENDICULAR TO THE WEST LINE OF SAID LOT 1, A DISTANCE OF
67.34 FEET;
THENCE NORTHEASTERLYALONG A LINE DRAWN PERPENDICULAR TO THE
SOUTHWESTERLY LINE OF LOT 1, A DISTANCE OF 65.76 FEET;
THENCE EAST PERPENDICULAR TO THE WEST LINE OF SAID LOT 1, A DISTANCE OF
55.38 FEET TO THE MOST WESTERLY EAST LINE OF SAID LOT 1, ANDTHE POINT OF
TERMINUS OF SAID LINE;
ALSO EXCEPTING THEREFROM
ALL OF VILLAGE CENTRE PHASE 1-B PLAT OF RESUBDIVISION OF LOTS6, 7, 8, 9 IN
BLOCK 13 IN BUSSE & WILLE’S RESUBDIVISION IN MT. PROSPECT AND PARTS OF LOTS
8, 9, 10 IN BLOCK 15IN MT. PROSPECT SUBDIVISION IN SECTION 12 AFORESAID;
IN COOK COUNTY, ILLINOIS.
387385_4 41
EXHIBIT A-2
Prospect and MainTIF DistrictMap
387385_4 42
EXHIBIT B
Legal Description ofthe Property
Park Terrace being a resubdivision of North 200 feet of the East 210 feet of the West
237 feet of Block 4 in Ernst Busse’saddition to Mount Prospect a subdivision in the
Southeast Quarter of Section 34, Township 42 North Range 11 East of the Third
Principal Meridian, in Cook County, Illinois
P.I.N.:03-34-320-054-0000, 03-34-320-053-0000
Common Address:15-19 N. Elmhurst Avenue
Mount Prospect, IL 60056
387385_4 43
EXHIBIT C
Site Plan for the Project
387385_4 44
EXHIBIT D
Description of the Project
The project consists of two, six-unit luxury rowhome buildings and associated site
improvements.
387385_4 45