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Home My WebLink AboutRes 31-78 12/19/1978 ~ , ?/l5r~ . t '-Cnpturc Agrccm~nt ~p RESOLUTION NO. 31-78 A RESOLUTION DIRECTING THE EXECUTION OF A RECAPTURE AGREEMENT BETWEEN THE VILLAGE OF MOUNT PROSPECT AND THE GOLF VIEW HOMEOWNERS ASSOCIATION WHEREAS. the Corporate Authorities of the Village of Mount Prospect have heretofprE adopted Ordinance No. requiring the installation of water main and appurtena4t facilities to serve certain land and territory within the corporate limits of the Vill4ge , of Mount-Prospect; and ; ~ , WHEREAS. the Corporate Authorities of the Village of Mount Prospect believe that! I such Recapture Agreement is in the best interests of the Village of Mount Prospec~; I NOW. THEREFORE BE IT RESOLVED BY THE :MAYOR AND BOARD OF TRUSTEES qF THE VIL-LAGE OF MOUNT PROSPECT. COOK COUNTY. ILLINOIS: ! , l I SECTION ONE: That the President and Board of Trustees of the Village of Mount i Prospect is hereby authorized to sign and the Village Clerk of the Village of Mount Prospect is hereby authorized to attest the Recapture Agreement made a part ' hereof and attached hereto as Exhibit I. 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: PASSED this 19th day of December APPROVED this 19th day of December . 1978. . 1978. e, r~ }/ l!~"...... Mayor ATTEST: ~! J:' , < / ' , ,/ /l't(;/l~1 dJ rf6't-d.--;.~z--yt../ Village Clerk i , , , - , , 12/8/78 /~--- "----- RE-CAPTURE AGREEMENT This Agreement. made and entered into this day of ". 1978, by and between the VILLAGE OF MOUNT PROSPECT., a municipaJ.-corporation of the State of Illinois. hereinafter referred to as "VILLAGEfl and GOLF VIEW HOMEOWNERS ASSOCIATION. hereinafter referred to as. flASSOCIATION". upon the mutual covenants and conditions expressed hereto. WIT N E SSE T H: WHEREAS. the VILLAGE has adopted a municipal ordinance requiring the installation of water main and appurtenant facilities. hereinafter referred to as "FACILITIES". so that fire service can be adequately provided to land and territory owned by members of the ASSOCIATION. which land and territory is hereinafter referred to as the "SUBJECT PROPERTYfl legally described as follows: (Insert Legal Description) and WHEREAS. the ASSOCIATION has agreed to install the FACILITIES upon the SUBJECT PROPERTY as shown upon the map thereof. a copy of which is attached hereto and hereby made a part hereof as Exhibit A; and WHEREAS. it is the opinion of the corporate authorities of the VILLAGE that such FACILITIES may be used for the benefit of other property not intended in the SUBJECT PROPERTY. which property is hereinafter referred to as the "OTHER PROPERTY". and is legally described as follows: (Insert Legal Description) and WHEREAS. the FACILITIES are to be dedicated to the VILLAGE for the use of EXHIBIT I /~--- ""._~ ''''''''"'-.... the VILLAGE in serving the SUBJECT PROPERTY as well as the OTHER PROPERTY for fire fighting and potable water supply purposes; and WHEREAS. the VILLAGE and the ASSOCIATION agree that the contract herein is for and in the best interests of all concerned, including the citizenry of the VILLAGE; NOW. THEREFORE. in consideration of the mutual covenants hereinafter set forth, it is hereby agreed by the parties hereto: ,1. That within nine (9) months from the date hereof the ASSOCIATION shall construct certain FACILITIES on the SUBJECT PROPERTY in the sizes and in the manner set forth upon the engineering plans which shall be sub- mitted by the ASSOCIATION to the VILLAGE for VILLAGE approval thereof, which engineering plans shall accomplish the installation of the FACILITIES shown upon the general layout thereof attached hereto and hereby made a part hereof as Exhibit B. At the time of such approval by the VILLAGE the ASSOCIATION shall post adequate surety (meeting the approval of the Village Attorney) with the VILLAGE in order to guarantee the construction and instal- lation of the FACILITIES pursuant to the approved engineering plans. 2. That the VILLAGE shall reimburse the ASSOCIATION the portion of the costs of such FACILITIES constructed by the ASSOCIATION within the SUBJECT PROPERTY, which proportions of the costs of such FACILITIES are to be incurred by the ASSOCIATION for the benefit of the OTHER PROPERTY and which reim- bursement shall take place when it is collected from the owners of OTHER PRO- PERTY pursuant to the formula set forth hereinbelow: $1,800.00 per lot of record plus 8% interest per annum from the date I of conveyance of such FACILITIES to the VILLAGE. 3. That the VILLAGE shall collect the above costs of such FACILITIES and fees charged to the owners of the OTHER PROPERTY at the time the owners of such OTHER PROPERTY wish to tap into the aforesaid FACILITIES and the -2- ,,,.....,,..,,...,,,.,"'~"""",=.="""""'<.,_.~,,,'''"'''.,,,,.'''~,,,.~"'r.~~''''~m;''''"'''':).~l't'lm;o;w.=~~.,=-';..''''''''..=::>:.,:>,'~:c~"7,','''''''''''',==~__.,...,...",..........."..,.,.'.=~"""'""'''''".,,;!:',,:-'''''':>'';'''',:!''''"'i<Z'''=,__''''.,''''~.",..,__,_..",,~,,~,'V'~.h'""''''''''''''''-''^>_''''''''''<~.~,''''''.''''-<~'"='''<''''~"'."""~~""""'"""'=~""-'""'''''''~''''"~<>='~'''~'''"''''''''''~-~ /"'" , _...._""./""'~, VILLAGE shall not be expected and shall not collect such fees charged to the owners of OTHER PROPERTY prior to the connection and use of said FACILITIES by each owner of the OTHER PROPERTY. 4. That upon the installation and construction of the aforesaid FACILITIES by the ASSOCIATION and the subsequent final approval by the Village Board of Trustees of the VILLAGE of such installation and construction, the ASSOCIATION shall immediately dedicate such FACILITIES to the VILLAGE and shall convey its Bill of Sale together with all necessary easements to the VILLAGE for the FACILITIES so constructed and approved; which easements, if any. shall allow the VILLAGE access to. expansion of, reconstruction of, maintenance of. and extension of the aforesaid FACILITIES. 5. That this Agreement shall be executed by the parties hereto in triplicate. and one such original copy shall be filed with the Recorder of Deeds or the Registrar of Torrens Titles (as the case may be) of Cook County, Illinois. to serve to notify persons interested in the SUBJECT PROPERTY and the OTHER PROPERTY of the fact that there wPI be a charge in relation to such OTHER PROPERTY for the connection to and use of the FACILITIES constructed under this Agreement_. 6 . That this Agreement shall be binding upon the parties hereto and their successors and assigns. IN WITNESS WHEREOF. the parties hereto have caused this Agreement to . be made and their respeCtive officials have signed and affixed their seals this day of . 1978. VILLAGE OF MOUNT PROSPECT BY: ~ II ,#a.. ~ GOLF VIEW HOMEOWNERS ASSOCIATION BY: ATTEST: ATTEST: Village Clerk -3- I \ ", , ~ ,I :; , W~~AI0 ~'--i ~"'F Vie PS~ SvI.>'P'YI SII ~ ! 'I- t- · r:\ .i " 'j I~ I I' -,.! . -J-' ' ~~J l i m,,'p..;~l : II : f' - I .. 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