HomeMy WebLinkAboutRes 05-05 03/01/2005
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2/23/05
RESOLUTION NO, 5-05
A RESOLUTION AUTHORIZING THE VILLAGE OF MOUNT PROSPECT
TO ENTER INTO AN AGREEMENT FOR THE DEVELOPMENT OF FOUNDERS' ROW,
1-17 SOUTH EMERSON STREET
WHEREAS, the Village of Mount Prospect has established a Tax Increment 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 development agreement with Founders' Row.
NOW THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF
THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS:
SECTION ONE: That the Mayor and Board of Trustees do hereby authorize execution of an
Agreement between the Village of Mount Prospect and Founders' Row for the purpose of
developing a plan for the former Bank One parcels located at 1-17 South Emerson Street, being
the subject of this Resolution, a copy of said Agreement is attached hereto and hereby made a
part hereof as Exhibit "A".
SECTION TWO: This Resolution shall be in full force and effect from and after its passage and
approval in the manner provided by law,
AYES:
Corcoran, Hoefert, Lohrstorfer, Skowron, Wilks, Zadel, Farley
NAYS:
None
ABSENT:
None
PASSED and APPROVED this 151 day of March, 2005.
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.-/ Gerald L. Farley / //
Mayor /
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Velma W. owe
Village Clerk
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TownhomeParccL2.23.05
AGREEMENT FOR SALE AND REDEVELOPMENT OF LAND
THIS AGREEMENT (this "Agreement") is made by and between the VILLAGE
OF MOUNT PROSPECT, Illinois, a municipal corporation (the "Village"), and
FOUNDERS' ROW LLC, an Illinois limited liability company (the "Purchaser").
RECITALS
WHEREAS, the Village has authorized the sale of that certain real estate located
In the Village's corporate limits and commonly known as 1-15 S. Emerson Street
consisting of approximately 1.669 acres (the "Property"), legally described on attached
Exhibit A; and
WHEREAS, the Village has awarded Purchaser the right to redevelop the
Property and to purchase it from the Village pursuant to the tenTIS and conditions set forth
in this Agreement; and
WHEREAS, Purchaser intends to acquire and construct or cause to be constructed
on the Property, approximately 14 attached single-family dwellings in two buildings (the
"Improvements"); and
WHEREAS, the Property is located in the Village's Tax Increment Finance (TIP)
District. The TIF District was previously designated, adopted and approved by the
Village; and
WHEREAS, these Improvements and development will facilitate the goals and
objectives of the Village's TIP District and provide for increased economic activity
within the Village, increase the assessed valuation of the real estate situated within the
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Village, increase the tax revenues realized by the VilÍage, enable the VilJage to control
the development of the Property and otherwise be in the best interests of the Village.
NOW THEREFORE, in consideration of the premises set forth above and the
mutual obligations of the pal1ies (the "Parties"), the Parties covenant and agree as
follows:
Section One: Incorporation of Recitals and Exhibits
The recitals set forth above and all exhibits constitute an integral part of this
Agreement and are incorporated by this reference with the same force and effect as if
fully set forth as agreements of the Parties.
Section Two: Definitions
For purposes of this Agreement, the following capitalized terms shall have the
meanings indicated:
A.
"Improvements" shall have the meaning set forth in the recitals.
B.
"Project" shall mean the development of the Property and construction of
the Improvements in accordance with the terms of this Agreement and shall
consist of approximately 14 attached single-family dwelling units and an equal
number of parking garages, one per dwelling site substantially as set forth in
Exhibits C & D. Purchaser reserves the right, however, to market the units as
"townhomes", "row homes", "single family" and other applicable marketing
terminology.
C.
"Title Company" shall mean Chicago Title Insurance Company and its
affiliates. Attached as Exhibit B are the permitted title exceptions for the Property
("Permitted Exceptions"),
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Section Three:
Approvals
Zoning Contingency, Permits and Other Governmental
A.
Zoning. Prior to the date of this Agreement, the Village has approved
zoning required for the Project, under Ordinance(s) Number(s)
5l.{ B 1
("Zoning Approvals").
Attached as Exhibits C and D are the site plan and
building elevations resulting from those Approvals ("Approved Site Plan" and "Approved
Elevations", respectively).
Such changes as Purchaser reasonably proposes and the
Village approves as administrative changes during the construction penTIit and
construction process ("Final Approved Site Plan and Elevations") may be allowed.
B.
Construction PenTIits and Other Governmental Approvals.
Purchaser
shall, at its expense, secure or cause to be secured, all necessary permits or other
approvals from any other governmental agencIes (including without limitation the
Village's agencies) having jurisdiction over such construction, development or work, or
such portion of the work being perfonned. This shaH include, without limitation, any
applications and permits, documents or plats which may be required to be obtained from
any local, federal or state environmental protection agency, or from any other agency
which may have or exercise any jurisdiction of any type whatsoever which may affect the
Property for the Final Approved Site Plan and Elevations (the "Governmental
Approvals"). Purchaser will diligently pursue obtaining the Governmental Approvals.
The ViHage wilJ assist and cooperate with Purchaser to secure the Governmental
Approvals.
Procurement of Governmental Approvals shall be a condition
of this
Agreement and Purchaser's further obligations under it.
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C. Extent of Zoning and Governmental Approvals. The Final Approved Site Plan
and Elevations and Governmental Approvals must pennit construction of the Project as
defined.
D. Construction Timetable. Construction of the Improvements shall commence
within sixty (60) days after Closing of the Property (weather permitting). Purchaser shall
have the right to cause construction of only one of the buildings at a time, however, and
subject to Purchaser's sole discretion shall not commence construction of the second
building until achieving sale of 70% of the units constructed in the first of the two
buildings. Subject to discovery of latent underground conditions relating to prior uses of
the Property and the time reasonably required to remediate them, each building shall be
substantially completed not later than twenty-four (24) months after commencement of
construction, subject to weather permitting and force majeure. For the purposes of this
Agreement, "substantially completed" shall mean that subject to installation of any final
finishes, fixtures, appliances and other buyer options, the units located in the applicable
building are substantially complete to the point where a certificate of occupancy can issue
at to each unit.
Force majeure shall include, without limitation, latent underground
conditions and the Village's failure to complete public infrastructure and/or streetscape
improvements concurrently with Purchaser's substantial completion of the Project
building(s). Notwithstanding anything to the contrary in this Section or elsewhere in this
Agreement, however, and subject to posting appropriate evidence of insurance with the
Village, and execution of any bonds, waivers, releases or hold hannless documents
reasonably required by the Village Attorney. Purchaser shall have the right, at any time
prior to issuance of any building permits and prior to or after Closing, but on not less than
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5 days' prior notice to the Village, to commence construction staging activities and
preliminary site clearance and preparation (including but not limited to removal of asphalt
areas) at Purchaser's sole cost; if Purchaser so elects, then the construction timetable shall
not commence to run until actual excavation/shoring work commences (beyond removal
and/or remediation of underground conditions), but in no event later than July 15,2005.
E.
Compliance with this Agreement, Governmental Approvals and Other
Regulations. Purchaser shall complete the Project in compliance with the conditions of
this Agreement, the Governmental Approvals and all other Village regulations. This shall
include, but not be limited to, the payment of all fees and deposits on or before their
respective established due dates, subject to any waivers of or variations from any
governmental requirements granted in connection with the Project.
F. The Village shall reimburse Purchaser for th~ costs and expenses of removing
"unsuitable" existing conditions from the site to the extent that the costs and expenses
exceed the costs and expenses for excavation but for such conditions (and, if Purchaser so
chooses, the administrative costs and expenses of procuring a so-called "NFR" letter from
the Illinois Environmental Protection Agency that attests to that condition without land
use restriction and without engineered barriers or institutional or administrative controls).
For these purposes "unsuitable" shall include underground petrochemical contamination,
collapsed debris from prior uses (to the extent that asbestos-containing-materials and
lead-based-paint materials intermixed with such debris can not be easily separately and
therefore must be disposed of via licensed haulers), and asphalt materials. The Village
shall reimburse Purchaser promptly for the costs and expenses of such work.
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G.
Exterior Finishes. The Project shall be completed in compliance with
Exhibit E ("Approved Materials Palette") which shall provide the details of all exterior
finishes.
Section Four: Sale and Purchase Price
Subject to all the ternls, covenants and conditions of this Agreement, the Village
agrees to sell, and Purchaser agrees to purchase the Property from the Village, for the
total amount of$I,050,000.00 based on 14 single-family units.
Section Five: Conveyance of Property, Closing and Title
The Village shall convey to the Purchaser title by Special Warranty Deed subject
only to the Permitted Exceptions ("Deed"). The "New York Style" closing ("Closing")
shall take place at Chicago Title Company, Mount Prospect office, through a deed and
money escrow within thirty (30) days after Zoning Approvals are satisfied and obtained,
unless the parties otherwise mutually agree in writing. The costs of the deed and money
escrow and the "New York Style" closing shall be shared equally by the parties. The
Village shall be responsible for keeping the Propel1y exempt for real estate tax purposes
up to and including the date of Closing and recording of the deed of conveyance;
Purchaser shall be responsible for taxes that accrue from and after Closing.
Within 5 days after the effective date of this Agreement, the Purchaser, at Village
expense (to be a Closing proration credit in favor of Purchaser), wiJl procure a
commitment ("Commitment") from the Title Company to issue an AL T A 1992 Owner's
Policy of Title in the amount of the Purchase Price, showing title in the Village and
Purchaser as the proposed insured, with title being subject only to (a) real estate taxes, if
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any, not yet due and payable, and (b) the Permitted Exceptions.
The Village shall
reimburse Purchaser, at C1osing (in the form of a proration credit in favor of Purchaser),
for the costs and expenses of providing an AL T A survey made and certified in favor of
the Village, Purchaser and such other parties as Purchaser may designate and prepared by
Spaceco, Inc. as surveyor, showing the Property as being not subject to gaps, gores,
overlaps, easements, encroachments or other matters customarily considered to be survey
defects. If Purchaser finds title and/or survey matters on such updates to be defective, the
Village shall have 30 days to correct the survey defect and/or cause the Title Company to
waive or endorse over the title defect within ten (10) days after Purchaser's notice to the
Village. If the Village fails to correct such defects and/or obtain appropriate waivers or
endorsements over such defects, Purchaser shall have the right to cancel and tem1inate
this Agreement or to accept title and survey conditions as then known with credit at
closing for title and survey defects that are of a definite and ascertainable amount.
Section Six: Access to Premises
From the Effective Date until Closing, Purchaser, its representatives, agents,
employees, lenders and contractors may, during reasonable business hours and on
reasonable notice to the Village, have access to and the right to enter upon the Property
for the purpose of physically investigating the Property or planning the Project; provided,
however, that Purchaser shall have no duty or obligation to probe or test for existing
latent conditions, however, it being the understanding that excavation of the Property for
the Project shall be adequate for the purposes of this Agreement.
Purchaser shall
indemnify and hold the Village harmless from and against any and all claims relating to
Purchaser's access to and right to enter the Property and except as provided in Section
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J.D. shall not cause any damage to the Property in the course of such conduct, returning
the Property to its original condition.
Section Seven: Limitation upon Encumbrance of Property
Prior to the substantial completion of the Project, neither Purchaser nor any
successor in interest to the Purchaser shall engage in any financing or other transaction
which creates an encumbrance or lien upon the Property, except for only the following
purposes: (a) obtaining funds necessary to acquire the Property; (b) obtaining funds
necessary to constmct the Project (both hardcosts and softcosts); (c) obtaining funds
necessary to payor reimburse payment for Project hardcosts and softcosts incurred and/or
expended prior to such funding; and (d) allowing unit acquisition mortgage loans.
Section Eight: Notices
All notices required by this Agreement shaH be in writing and shall be served on
the Parties, either personally or mailed by certified or registered mail, or overnight courier
as foHows:
If to the Village:
With a copy to:
If to the Purchaser:
With a copy to:
Village of Mount Prospect
50 S. Emerson
Mount Prospect, Illinois 60056
Attn: ViHage Clerk
Everette M. Hill, Jr.
Klein Thorpe and Jenkins Ltd.
20 North Wacker Drive
Suite 1660
Chicago, IL 60606-2903
FOUNDERS' ROW LLC
7458 N. Harlem Avenue
Chicago, Illinois 60631
Attn: Company Manager
Stephen Messutta, Esq., General Counsel
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Founders' Row LLC
7458 N. Harlem Avenue
Chicago, Illinois 60631
Either party may, by notice in the manner provided in this Agreement, change the
addresses set forth above.
Section Nine: Legal Conformity
The Purchaser shall construct the Project in conformity with all applicable laws
and ordinances, including all applicable federal and state standards. The laws of the State
of Illinois shall govern the interpretation and enforcement of this Agreement. The Village
will not impose affordability requirements against the Project.
The Village and the
Purchaser shall mutually agree with respect to a reasonable amount of signage for sale of
the Project and for events intended to attract prospective buyers and retailers to the
development site during sale of the Improvements.
Section Ten: Remedies and Liability
A.
Each of the parties may institute legal action against the other party to
cure, COITect or remedy any default, to recover damages for any default, or to obtain any
other remedy consistent with the purposes of this Agreement, either at law or in equity,
including, but not limited to the equitable remedy of an action for specific perfonnance,
except as otherwise provided in this Agreement.
B.
The rights and remedies of the parties are cumulative, and the exercise by
either party of one or more of such rights or remedies shall not preclude the exercise by it,
at the same time or different times, of any other rights or remedies for the same default or
for any other default by the other party.
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c.
Failure or delay by any party to perfonTI any act required in this
Agreement, subject to rights to extend contained in this Agreement, or delays pemlitted
by mutual agreement of the parties shall constitute a default under this Agreement. The
party who so fails or delays must, upon receipt of written notice of the existence of such
default, immediately commence to cure, correct or remedy with due diligence. The party
claiming such default shall give written notice of the alleged default to the party alleged
to be in default, specifying the complained of default. Failure or delay in giving such
notice shall not constitute a waiver of any default, nor shall it change the time of default.
Except as required to protect against further damages, and except as otherwise expressly
provided in this Agreement, proceedings against the party in default shall not be
commenced until thirty (30) days after giving such notice absent emergency
circumstances. If such default cannot be cured within the thirty (30) day period, said
thirty (30) day period may be extended upon mutual consent of the parties for such time
as they agree to be reasonably necessary for the curing of the same. If default is cured
within the original thirty (30) day period or the agreed upon extended period, the default
shall not be deemed to constitute a breach of this Agreement. A default not cured as
provided above shall constitute a breach of this Agreement.
Except as otherwise
expressly provided in this Agreement, any failure or delay by any party in asserting any of
its rights or remedies as to any default or alleged default or breach shall not operate as a
waiver of any such default or breach of any rights or remedies it may have as a result of
such default or breach.
D.
Each of the following acts or omissions of Purchaser shall constitute a
breach of this Agreement:
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1.
Purchaser transfers, or suffers any invoJuntary transfer of its interest in the
Property, or any part of it, in violation of this Agreement.
2.
The filing or execution or occurrence of: (a) a petition filed by Purchaser
seeking any debtor relief; (b) the making of an assignment for the benefit of creditors by
Purchaser or its execution of any instrument for the purpose of effecting a composition of
creditors; or (c) if Purchaser is adjudicated as bankrupt.
Section Eleven: Assignment
Purchaser may not assign this Agreement, without the prior consent of the
Village, which consent shall not be unreasonably withheld or delayed. A change of
company name or addition of a marketing name for the company shall not be deemed to
be an assignment. Notwithstanding the foregoing, and without the prior consent of the
Village, Purchaser shall have the right to assign this Agreement to another business entity
of which Norwood Construction, Inc. acts in sole managerial capacity. Should such
assignment not take place prior to Closing, Purchaser nevertheless shall have the right to
designate a nominee as grantee of record for the Property.
Section Twelve: Mutual Indemnification
To the extent permitted by law, Village and Purchaser agree to indemnify, defend
and hold hanTIless the other party and its agents, employees, successors and assigns and in
the instance of the ViJIage, also its elected officials and officers, for any claims, suits,
actions, costs liabilities, losses, damages, judgments, and expenses (including reasonable
attorney's fees) suffered or incurred by the indemnified party by virtue of injury or death
of person(s) or loss of or damage to property arising out of the acts or omissions of the
indemnifying party in connection with this Agreement or the Project.
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Section Thirteen: Representations and Warranties of Purchaser
Purchaser represents and watTants that:
(a)
Purchaser is a duly organized and validly existing business entity
under the laws of the State of Illinois, is authorized to conduct its business as it is
presently being conducted, is not in violation of any provisions of its organizational or
operating Agreements or the laws of the State of Illinois, has power and legal right to
enter into this Agreement, and has duly authorized the execution, delivery and
performance of this Agreement by proper action.
(b)
The consummation of the transaction contemplated by this
Agreement will not violate any provisions of the governing documents of Purchaser or
constitute a default or result in the breach of any tenn or provision of any contract or
agreement to which Purchaser is a party or by which it is bound.
(c)
There is no litigation, proceeding or investigation contesting the
power or authority of Purchaser or its officers with respect to the Property, the Project, or
this Agreement and Purchaser is unaware of any such litigation, proceedings, or
investigation that has been threatened.
(d)
Purchaser has the technical expertise and the financial capacity and
responsibility necessary to construct the Project and perform all of its obligations
pursuant to this Agreement.
Section Fourteen: Representations and Warranties of Village
Village represents and warrants that:
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(a)
It has all the power and legal right to enter into this Agreement and
has duly authorized the execution, delivery and performance of this Agreement by proper
action.
(b)
The consummation of the transaction contemplated by this
Agreement will not violate any provisions of the governing documents of Village or
constitute a default or result in the breach of any tenn or provision of any contract or
Agreement to which Village is a party or by which it is bound.
(c)
There is no litigation, proceeding or investigation contesting the
power or authority of Village or its officers with respect to the Property, the Project, or
this Agreement and Village is unaware of any such litigation, proceedings, or
investigation that has been threatened.
Section Fifteen: Amendment or Waiver
This Agreement, and any attached exhibits, may be amended only by the mutual
consent of the parties and by the execution of the amendment by the Parties or their
successors in interest.
The parties may only waive any requirements or conditions
contained in this Agreement in writing. Except as otherwise expressly provided in this
Agreement, this Agreement expressly supersedes all prior Agreements negotiations and
discussions relative to its subject matter and is a full integration of the Agreement of the
parties. The covenants and agreements of this Agreement which, by their terms, extend
beyond Closing, shall survive Closing.
Section Sixteen: Exhibits
The Exhibits referred to and attached in this Agreement or incorporated by textual
reference are incorporated by this reference and made a part of this Agreement.
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Section Seventeen: Time
Time is of the essence of this Agreement.
Section Eighteen: \Vaiver
Either party to this Agreement may elect to waive any remedy to which it may be
entitled. However, no such waiver shall be deemed to exist unless the party waiving such
right or remedy does so in writing. No such waiver shall obligate such party to waive any
other right or remedy, or shall be deemed to constitute a waiver of other rights and
remedies provided said party pursuant to this Agreement.
Section Nineteen: Duplicate Originals and Counterparts
This Agreement may be executed in duplicate originals or in several counterparts,
each of which is deemed to be an original and all of which shall constitute one and the
same agreement.
Section Twenty: Severability
If any section, subsection, telTI1 or provision of this Agreement or the application
thereof to any party or circumstance shall, to any extent, be invalid or unenforceable, the
remainder of said section, subsection, term or provision of this Agreement or the
application of same to parties or circumstances other than those to which it is held invalid
or unenforceable, shall not be affected thereby.
Section Twenty-One: Limited Liability for Village
The par1ies hereto specifically agree, that the Village shall have no liability for any
breach of any of the tenTIS of this Agreement in the foml of punitive damages,
compensatory damages or the payment of costs, expenses or attorneys' fees. The only
liability that the Village shall have for breach of any of the terms, conditions or provisions
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of this Agreement shall be liability in the fonn of specific perfonnance of such tenns,
conditions or provisions of this Agreement.
Section Twenty-Two: Headings
The headings of the various paragraphs of this Agreement have been inserted for
convenient reference only and shall not in any manner be construed as modifying,
amending or affecting in any way the express terms and provisions hereof.
Section Twenty-Three: No Joint Venture
Neither anything in this Agreement nor any acts of the parties to this Agreement
shall be construed by the parties or any third person to create the relationship of a
partnership or joint venture between or among such parties.
Section Twenty-Four: Entire Agreement
Except as otherwise provided herein, this Agreement and the Exhibits hereto
constitute the entire Agreement of the parties in regard to the subject matter hereof.
Section Twenty-Five: Joint \Vork Product
This Agreement is the joint work product of the Village and the Purchaser and has
been negotiated by the parties and their respective legal counsel, and in the event of any
ambiguity herein, no inference shaH be drawn against either party on the basis of which
party prepared this Agreement.
Section Twenty-Six:
Economic Assistance
Except as provided in this Agreement, the parties acknowledge that there shall be
no Village economic assistance for Purchaser or for the Project. Notwithstanding the
foregoing, if the Village, after the date of this Agreement, extends its existing TIF
program that includes the Property, the Village in good faith shall entertain Purchaser's
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request for equitable participation therein but the Village shall be under no obligation to
provide any assistance in connection therewith even if the same is available to eligible
properties.
This shall not preclude the Project ITom participating in any incentive
program created by the Village after the Effective Date of this Agreement, however.
Section Twenty-Seven:
Private Drive Reorientation
Developer shall provide, in the applicable townhome instruments of record, that if
within twenty (20) years after recording such instrument the Village acquires the real
estate to the south of the Property that would allow for the north-south "leg" of the
private drive as shown on the Approved Site Plan, to be extended southerly to Busse
Avenue (for its full width with appropriate curb cuts and radius aprons at Busse), then
and in such case the southerly half of the east-west "leg" of the private drive as shown on
the Approved Site Plan (west of a line which is the west edge of the north-south "leg"
extended southerly) shall be conveyed to the Village and the Village shall convey the
extension of the north-south "leg" to Busse to the townhome association, all as soon as
practicable after the Village (a) completes a park in the remaining area at the northeast
comer of Emerson Street and Busse Avenue, (b) constructs the north-south "leg"
extension (including the relocation of any existing traffic controlling structures) and
opens it to Busse, and (c) demolishes and reconstructs (exclusive of relocating yard
fencing and bushes immediately south thereof) the east-west "leg" as part of the park
(south half) and as part of the southernmost townhorhe sideyard (north half). Developer
reserves the right on initial recording of the applicable townhome instruments to deem the
east-west "leg" as part of the association's common area or as an easement over the
southernmost townhome side-yard.
The Village's plans for the park and drive
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reorientation shall be at the Village's sole cost and expense, shall meet all design and
materials criteria imposed on Developer (including without limitation self-contained
stonTIwater management facilities) so as to be compatible with the Project, and which
plans shall be subject to the townhome association's reasonable approval. As a condition
of its approval, the townhome association shall have the right to have gates or other
limited access facilities installed at the north and south ends of the drive if the townhome
association detennines, in its reasonable opinion, that cut-through traffic has been a
problem, and that prior efforts to control traffic (including but not limited to signage)
were not effective.
Section Twenty-Eight:
Effective Date
This Agreement shall be deemed dated and effective on the date the Village
President and Village Clerk sign this Agreement, which date shall be adjacent to their
signatures, but in no event prior to the date that Purchaser executes and delivers this
Agreement to the Village for the Village's execution of it.
IN WITNESS WHEREOF, the Village has caused this Agreement to be executed
in its name and behalf by its Mayor or his proxy and attested by its Village Clerk, and the
Purchaser has signed the same by its duly authorized officer or representative.
VILLAGE:
VILLAGE OF MOUNT PROSPECT, an Illinois
municipal corp
Date: ..5...1-- [) 5
Attest:
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PURCHASER:
Date: 3- J 9- 06
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FOUNDERS' ROW LLC, an Illinois limited
liability company
By: NORWOOD CONSTRUCTION, INC., an
Illinois corporation
~~le:~
List of Exhibits
Exhibit A - Legal Description
Exhibit B - Permitted Exceptions
Exhibit C - Preliminary Site Plan
Exhibit D - Preliminary Elevations
Exhibit E Approved Materials Palette
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Exhibit A - Legal Description
Parcell: LOTS 20, 21, AND 22 IN BLOCK 5 IN BUSSE AND WILLE'S
RESUBDIVISION IN MOUNT PROSPECT OF THE WEST QUARTER OF SECTION
12, TOWNSHIP 41 NORTH, RANGE 11 EAST OF THE THIRD PRINCIPAL
MERIDIAN, IN COOK COUNTY, ILLINOIS.
ALSO
Parcel 2: LOT 1 IN MOUNT PROSPECT STATE BANK RESUBDIVISION NO.3, A
RESUBDIVISION OF LOTS 14 TO 19 IN BLOCK 5 IN BUSSE AND WILLE'S
RESUBDIVISION IN MOUNT PROSPECT IN THE WEST QUARTER OF SECTION
12, TOWNSHIP 41 NORTH, RANGE 11 EAST 'OF THE' fHÌRD PRINCìPAL
MERIDIAN, IN COOK COUNTY, ILLINOIS.
Excepting from the Parcel(s), as applicable, however, the following:
1. the NWC (20' x 20') of the overall site shall be dedicated to the Village for
public purposes;
2. the west 5.5' of the parcels (south of the foregoing 20' x 20' dedication) shall
be dedicated for widening of Emerson Street (to be widened at the Village's sole
cost and expense including but not limited to underground infrastructure, if any,
curbing and streetwork, trees and tree grates, pavers and related hard- and
landscape, street lighting, sidewalks and streetscape accessories consistent with
the materials on the west side of Emerson Street); and
3. the north 7' of the parcels (east of the 20' x 20' dedication) shall be subjected
to an easement in favor of the Village for public sidewalks, trees and related
public improvements (to be installed at the Village's sole cost).
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Exhibit B - Permitted Exceptions
Taxes: None. As to the "Weller SSA", the Village, at Purchaser's request, will provide
Purchaser, for purposes of sales, marketing and closings of units at the development,
with written evidence that there is no levy proposed or pending.
Zoning: Ordinances enacted by the Village and with Purchaser's knowledge and consent,
that enable the Project, together with current Village building codes.
Easements: Not later than Closing the Parties agree or consent to one or more recordable
agreements or instruments (and recorded by Purchaser as soon thereafter as practicable)
that have the following effect:
a. modifying the existing 10' utility easement along the east line of Parcel 2 so as
to be only so wide as reasonably required for the Project; and
b. providing for mutually agreeable construction staging and construction parking,
and for other construction staging protocols as are reasonable and will help facilitate the
construction of the Project and not burden on-street public parking.
c. cable line overhanging the SEC of the overall site servicing the home
immediately south of the overall site, so long as the minimum height over grade of the
line is at least 12.5'.
Litigation: None.
20
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TownhomeParce1.2.23.05
Exhibits C & D - Approved Site Plan and Approved Elevations
(See Attached)
21
.II.:
Exhibit"E"
February 25, 2005
To:
Bruce J. Adreani, President, Founders' Row LLC
Jennifer Tammen, Director of Planning, Founders' Row LLC
From:
Michael L. Breda'll, Partner, OKW Architects
Subject:
Founders' Row
Downtown Mount Prospect, Illinois
Materials Specifications
Exterior Wall Construction
Front and sides will be brick exterior with concrete block back up. Interior side of
block will have wood or steel framing, insulation, and 5/8" gypsum drywall.
Brick shall be modular brick to match color, texture and character of that
presented to the Village Board. Custom, wedge shaped bricks will be used for
the primary entrance archway.
Cast stone or limestone will be used for the beltcourse detailing at the base of
the façade as well as window sills.
The one story rear portion of the rowhome, as well as the side bay, and the
second floor bay at the rear of the home will be wood frame construction with a
. man-made shake siding (a, fiber cement product manufactured by James
Hardie@), painted to be complementary with the brick color. Additional trim,
soffits, etc. will be constructed of man-made wood boards that have a lifespan
and serviceability that exceed that of conventional painted woods. The lower 3
feet of these shake siding areas will be brick with a cast stone belt course.
Garages will be either brick cladding on wood frame or the man-made shake
siding used on the rear portion of the row-homes per the elevations presented to
the Village Board dated 1/25/05. Garage doors with be insulated painted metal
doors, with paneled design motif and windows within the top panels.
The coping of the brick gables will be of a custom profiled copper.
All exposed flashing will be copper.
The chimney tops will be developed with corbelled brick and cast stone detailing
as well as decorative day chimney pots.
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Otis Koglin Wilson
Architects .
600 West Jackson Blvd,
Suite 300
Chicago. IL 60661
T 312.798.7700
F 312.798,7777
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Roofing
The roofing of the row home and garages will be a premium grade asphalt
shingle that conveys a weight, shadow-line and depth of character reminiscent of
the shadowing and variation of color found in a natural grey slate roof.
The roofing of the side bays on the 4 end rowhomes will be a standing seam
copper.
Gutters, downspouts and flashing
Copper throughout.
Windows
Windows throughout will be aluminum clad, wood windows. A painted finish will
be standard on the interior, with a stain grade interior available as an upgrade to
the buyer prior to construction. The exterior color will be compatible with the
color of the brick.
Front Entry Porch
Concrete porch with side walls of stair to be faced in brick masonry identical to
main house.
The Porch railing will be painted, decorative wrought iron.
The Entry Door will be an insulated door, with decorative glazing and sidelights.
The ceiling of the porch will be a stained wood bead-board.
The Entry light fixture will be of a finished metal construction-brass or bronze,
not a painted metal.
Mailboxes will be generous in size. The mailboxes and house numbering will be
consistent from house to house.
Lighting
All exterior lighting, such as at the garage entry and man doors, as well as the
rear house door and the patio area will be of the same style family as the entry
light fixture.
Landscaping
At the front of the house the landscape will be a layered composition of
ground covers, perennials, grasses and small shrubs.
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Otis Koglin Wilson
Architects
600 West .Jackson Blvd.
Suite 300
. Chicago. iL 60661
T 312.798.7700
F 312.798.7777
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The side yards and rear yards will have a generous lawn area with foundation
planting around the base of the row home, and screening material, in the form of
flowering shrubs, perennials, groundcover, as well as small scale coniferous
trees.
Ornamental trees will be placed to accent the larger garden/yard areas.
The landscape site plan as submitted reflects the general layout of this material.
Rear yard construction
The porch and steps at the rear entrance as well as the trellis and the fence
between the rear yards will be constructed of a natural weathering wood, such as
cedar. The porch and steps will be stained with an opaque stain to match the
color of the adjacent shake siding.
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Otis Koqlln Wilson
Architects
600 West Jackson Blvd.
Suite 300
Chicago. IL 60661
T 312.798.7700
F 312.798.7777