HomeMy WebLinkAboutOrd 6768 12/04/2024 Authorizing The Execution Of A Redevelopment Agreement Betwwen The Village Of Mount Prospect And 500 Central Road LLC For Residential Dwelling UnitsPrepared by:
John A. Wall
Klein Thorpe & Jenkins, Ltd.
120 S. LaSalle St.
Suite 1710
Chicago, Illinois 60602
Mail to:
Klein Thorpe & Jenkins, Ltd.
120 S. LaSalle St.
Suite 1710
Chicago, Illinois 60602
Recorded on behalf of:
Village of Mount Prospect
Record against:
PIN: 03-34-326-008-0000
COOK COUNTY, ILLINOIS
RECORDING COVER SHEET FOR
Ordinance No. 6768: AN ORDIANCE AUTHORIZING THE EXECUTION
OF A REDEVELOPMENT AGREEMENT BETWEEN THE VILLAGE OF
MOUNT PROSPECT AND 500 CENTRAL ROAD LLC FOR
RESIDENTIAL DWELLING UNITS
Commonly known as: 500 W CENTRAL RD, MOUNT PROSPECT, IL, 60056
Property Index Number: 03-34-326-008-0000
Legally Described As:
LOT'A" IN OWNER'S RESUBDIVISION OF LOT 3 (EXCEPT THE WEST 282.52 FEET
THEREOF) OF CHARLES'S BEHLENDORF'S DIVISION OF THE SOUTHWEST
QUARTER OF THE NORTHWEST QUARTER AND THE WEST 10.58 CHAINS OF THE
SOUTHWEST QUARTER OF SECTION 34, TOWNSHIP 42 NORTH, RANGE 11, EAST OF
THE THIRD PRINCIPAL MERIDIAN, (EXCEPT THE RIGHT OF WAY OF THE CHICAGO
AND NORTHWESTERN RAILROAD COMPANY) ACCORDING TO THE PLAT
THEREOF OF SAID OWNER'S RESUBDIVISION REGISTERED IN THE OFFICE OF THE
REGISTRAR OF TITLES OF COOK COUNTY, ILLINOIS ON DECEMBER 21, 1970 AS
DOCUMENT NUMBER 2535801, IN COOK COUNTY, ILLINOIS.
20051261
ORDINANCE NO. 6768
AN ORDINANCE AUTHORIZING THE EXECUTION OF A REDEVELOPMENT
AGREEMENT BETWEEN THE VILLAGE OF MOUNT PROSPECT AND 500
CENTRAL ROAD LLC FOR RESIDENTIAL DWELLING UNITS
NOW, THEREFORE, BE IT ORDAINED, by the Mayor and Board of Trustees of
the Village of Mount Prospect, Cook County, Illinois, as follows:
SECTION 1: The Mayor and Board of Trustees of the Village find as follows:
A. The Village of Mount Prospect ("Village") is a home rule municipality
pursuant to Section 6 of Article VII of the Constitution of the State of Illinois.
B. 500 Central Road LLC (the "Business") desires to develop up to twenty
residential dwelling units for property located at 500 West Central Road,
Mount Prospect, Illinois.
C, This Agreement has been submitted to the Corporate Authorities of the
Village for consideration and review, the Corporate Authorities have taken
all actions required to be taken prior to the execution of this Agreement in
order to make the same binding upon the Village according to the terms
hereof, and any and all actions of the Corporate Authorities of the Village
precedent to the execution of this Agreement have been undertaken and
performed in the manner required by law.
D. This Agreement has been submitted to the Business for consideration and
review, the Business has taken all actions required to be taken prior to the
execution of this Agreement in order to make the same binding upon the
Business according to the terms hereof, and any and all action of the
Business precedent to the execution of this Agreement has been
undertaken and performed in the manner required by law.
E_ The Corporate Authorities of the Village, after due and careful
consideration, have concluded that the development of the Project will be
in the best interests of the Village by furthering the health, safety, morals
and welfare of its residents and taxpayers.
H. It is the desire of the Village to approve the Redevelopment Agreement for
the 500 West Central Road Project attached hereto as EXHIBIT A and
made part hereof.
SECTION 2: Based upon the foregoing, the Village Mayor, Village Clerk and
Village Manager, or their designees, be and are hereby authorized and directed to
execute the attached Redevelopment Agreement and perform the Village's obligations
thereunder.
SECTION 3: This Ordinance shall be in full force and effect from and after its
passage, approval and publication in pamphlet form as provided by law.
ADOPTED this 4t" day of December 2024 pursuant to a roll call vote as follows:
AYES: Dante, Filippone, Gens, Grossi, Matuszak, Saccotelli
NAYS: None
ABSENT: None
APPROVED this 4th day of December 2024, by the Village Mayor of the Village of
Mount Prospect, and attested by the Village Clem, on the same day.
Paul Wm. H `efert, ' jllage Mayor
APPROVED and FILED in my office this 4t" day of December 2024 and
published in pamphlet form in the Village of Mount Prospect, Cook County, Illinois.
ATTEST:
VillageC rk
Excte�t A
REDEVELOPMENT AGREEMENT FOR THE 500 WEST CENTRAL ROAD PROJECT
This REDEVELOPMENT AGREEMENT (this "Agreement"), is made and entered into
as of the 4th day of December, 2024 (the "Effective Date"), by and between the Village of
Mount Prospect, an Illinois home rule municipal corporation located in Cook County, Illinois
(the "Village"), and 500 Central Road LLC, an Illinois Limited Liability Company (the
"Business"). The Village and the Business are sometimes hereinafter referred to individually
as a "Party" and collectively as the "Parties".
RECITALS
WHEREAS, the Village is a home rule unit of government in accordance with Article VII,
Section 6, of the Constitution of the State of Illinois, 1970; and
WHEREAS, the Business desires to develop up to twenty residential dwelling units for
property located at 500 West Central Road, Mount Prospect, Illinois (the "Project") being legally
described and depicted as set forth in EXHIBIT A (the "Subject Property"), attached hereto and made
part hereof; and
WHEREAS, this Agreement has been submitted to the Corporate Authorities of the
Village for consideration and review, the Corporate Authorities have taken all actions required
to be taken prior to the execution of this Agreement in order to make the same binding upon the
Village according to the terms hereof, and any and all actions of the Corporate Authorities of the
Village precedent to the execution of this Agreement have been undertaken and performed in
the manner required by law; and
WHEREAS, this Agreement has been submitted to the Business for consideration and
review, the Business has taken all actions required to be taken prior to the execution of this
Agreement in order to make the same binding upon the Business according to the terms hereof,
and any and all action of the Business precedent to the execution of this Agreement has been
undertaken and performed in the manner required by law; and
WHEREAS, the Corporate Authorities of the Village, after due and careful consideration,
have concluded that the development of the Project will be in the best interests of the Village by
furthering the health, safety, morals and welfare of its residents and taxpayers.
NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and
agreements herein contained, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties do hereby agree as follows:
ARTICLE I. RECITALS PART OF AGREEMENT; EFFECT
The representations, covenants and recitations set forth in the foregoing recitals are
material to this Agreement and are hereby incorporated into and made a part of this Agreement
as though they were fully set forth in this Article I.
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ARTICLE II. MUTUAL ASSISTANCE
The Parties agree to take such actions, including the execution and delivery of such
documents, instruments, petitions and certifications as may be necessary or appropriate, from
time to time, to carry out the terms, provisions and intent of this Agreement and to aid and assist
each other in carrying out said terms, provisions and intent.
ARTICLE III. DEVELOPMENT OF THE PROJECT
3.1 Village Approvals. All procedures and requirements for approval of the Plans
(as defined below) shall be submitted and considered pursuant to applicable Village ordinance
as well as normal and standard Village procedures in relation thereto (the "Plan Approval').
Execution of this Agreement shall not be considered as approval or waiver of all necessary
building permits or associated permit fees required for Business to complete the Project.
3.2 Village Waiver of Building Permit Fees. The Village agrees and acknowledges
that all building permit fees applicable to the Project shall be waived in an amount not to exceed
$150,000.00.
3.3 Business Payment of Project Costs. Business agrees that it shall pay all costs
associated with the Project, other than the building permit fees as set forth in Section 3.2, as
provided by applicable ordinance, including, but not limited to: any third -party inspection fees,
water service connection fees, certificates of occupancy and/or any other charges or fees from
the Village applicable to the Project as would be applicable to any other construction project in
the Village.
3.4 The Redevelopment of the Subject Pro e . The Developer for the Project
agrees to redevelop the Subject Property in a manner consistent:
a. The architectural plans for the Subject Property titled "Plans and Specifications
for an ADAPTIVE RE -USE PROJECT, 500 Central Road, Mount Prospect ILK"
as prepared by the The Lyons Design Group, LLC, dated April 29, 2024, with
the latest revision date of October 29, 2024, except that:
(i) The Left (West) Side Elevation as depicted on sheets A6.0 and A6.1 be
revised to show the existing openings and hardie board material
wrapping the existing posts on the first floor in colors consistent in
appearance with the second and third floors (See Exhibit B, attached);
and
(ii) The Right (East) Side Elevation as depicted on Sheets A6.0 and A6.1
be revised to include longboard tongue and groove horizontal and vetical
siding on the first floor in the area surrounding the Fire Sprinkler Room
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consistent with the second and third floor elevations (See Exhibit B,
attached).
b. The engineering plans titled "Final Site Plan Commercial Development 500 W.
Central Road, Mount Prospect, IL Cook County, 60056" as prepared by Fluenta
Consulting, except that:
(i) The Geometric Plan as depicted on Sheet C3 (See Exhibit B, attached)
be revised to include a 41.5' x 16' area for delivery and
loading/unloading on the Subject Property immediately west of the point
of ingress/egress consistent with the plans approved as part of
Ordinance No. 6656 (See Exhibit C, attached), subject to the approval
of the Village Engineer.
(ii) All other site plans shall be revised to include the loading area as
provided in subsection (b)(i), above, subject to the approval of the
Village Engineer.
3.5 Compliance with Codes. The Business, in redeveloping the Property, shall
comply with all applicable Village, County, State and Federal codes and requirements, including
all requirements in the Village's Zoning Ordinance.
3.6 Zoning. Notwithstanding anything contained herein to the contrary, the Village
represents and warrants that the proposed use of the Property as residential units is a permitted
use under the Village Zoning Ordinance. The Business agrees that the Plans for the Project shall
be in conformance with this Agreement and the Village Zoning Ordinance.
3.7 Damage to Public Improvements and Off -Site Improvements. To the extent
that the Business or its employees, contractors, subcontractors or agents damage any private
or public utilities or other private or public improvements of any kind that are located on-site or
off-site relative to the Property as part of the Project, the Business agrees to promptly repair or
replace or restore such damaged improvements with like kind and like quality materials as
reasonably directed by the Village.
ARTICLE IV. AUTHORITY
4.1. Powers. The Parties acknowledge that they make this Agreement based upon
their respective understanding that the Parties have full right, power and authority under
currently applicable law to deliver and execute and perform the terms of this Agreement, and
that all of the foregoing have been duly and validly authorized and approved by all necessary
Village and Business proceedings, findings and actions, and the Parties jointly and
severally agree that this Agreement constitutes the legal, valid and binding obligations of the
Village and the Business, and are enforceable in accordance with their respective terms and
provisions.
4.2. Authorized Parties. Whenever under the provisions of this Agreement and other
related documents and instruments or any supplemental agreements, any request,
demand,
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approval, notice or consent of the Village or the Business is required, or the Village or the
Business is required to agree or to take some action at the request of the other, such request,
demand, approval, notice or consent, or agreement shall be given for the Village, unless
otherwise provided herein, by the Village President or their designee and for the Business,
unless otherwise provided herein, by the Business President or their designee; and any Party
shall be authorized to act on any such request, demand, approval, notice or consent, or
agreement or other action and neither Party hereto shall have any complaint against the other
as a result of any such action taken.
ARTICLE V. REPRESENTATIONS AND WARRANTIES
5.1. Business Representations, Warranties Covenants and Obligations. The
Business makes the following representations, warranties, covenants, and obligation
commitments with regard to this Agreement:
(a) The Business represents and warrants to the Village that the Business has
the requisite power and authority to enter and fully carry out this Agreement,
including the execution of all instruments and documents delivered or to be
delivered hereunder.
(b) The Business covenants that the Project at the Property during the term of
this Agreement shall be constructed, fully completed and maintained in a
good and workmanlike manner in accordance with all applicable Federal,
State and County laws and regulations and the Village codes, ordinances
and regulations, including but not limited to all local zoning ordinances and
regulations, and the building, electric, plumbing and fire codes, that are
applicable to the Project. The Business certifies that it shall replace all
existing awnings at the Property as part of the Project.
(c) The Business warrants that it has and will continue to do all things
necessary to preserve and keep in full force and effect its existence and
standing as a business concern licensed by the State of Illinois, so long as
this Agreement is in effect, and for so long as Business has any other
remaining obligation pursuant to the terms of this Agreement, whichever is
the first to occur.
(d) To Business' knowledge, there are no actions at law or similar proceedings
which are pending or threatened against Business which would result in any
material and adverse change to Business' financial condition, or which
would materially and adversely affect the level of Business assets as of the
date of this Agreement or that would materially and adversely affect the
ability of Business to proceed with the construction and development of the
Project.
(e) The Business certifies that:
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It is not barred from contracting with any unit of State or local government
as result of violating 720 ILCS 5/33E-3 or 5/33E-4 (bid rigging or bid
rotating) or 5/33E-6 (interference with contract submission and award by
public official) or as a result of a violation of 820 ILCS 130/1 et seq. (Illinois
Prevailing Wage Act) or as a result of: (1) a delinquency in the payment of
any tax administered by the Illinois Department of Revenue or any fee
required by any unit of local government or the State, unless the Party is
contesting, in accordance with the procedures established by the
appropriate revenue act, its liability for the tax or the amount of the tax or
the fee, as set forth in Section 11-42.1-1 et seq. of the Illinois Municipal
Code, 65 ILCS 5/11-42.1-1 et seq.
It has not been convicted of, or is not barred for attempting to, rig bids, price-
fixing or attempting to fix prices as defined in the Sherman Anti -Trust Act
and Clayton Act. 15 U.S.C. § 1 et seq.; and has not been convicted of or
barred for bribery or attempting to bribe an officer or employee of a unit of
state or local government or school district in the State of Illinois in that
officer's or employee's official capacity. Nor has the Developer and its
officers, corporate authorities, employees and agents made admission of
guilt of such conduct which is a matter of record, nor has any official, officer,
agent or employee been so convicted nor made such an admission.
It shall comply with the Illinois Drug Free Work Place Act.
It shall comply with the Equal Opportunity Clause of the Illinois Human
Rights Act and the Rules and Regulations of the Illinois Department of
Human Rights and shall not commit unlawful discrimination and shall agree
to comply with all applicable provisions of the Illinois Human Rights Act,
Title VII of the Civil Rights Act of 1964, as amended, the Americans with
Disabilities Act, the Age Discrimination in Employment Act, Section 504 of
the Federal Rehabilitation Act, and all applicable rules and regulations.
It shall comply with its own written Sexual Harassment Policy in compliance
with Section 2-105 of the Illinois Human Rights Act (775 ILCS 5/2-
105(A)(4)).
It is and will remain an "Equal Opportunity Employer" as defined by federal
and State laws and regulations, and agrees to comply with the Illinois
Department of Human Rights ("IDHR") Equal Opportunity Employment
clause as required by the IDHR's Regulations (44 III. Adm. Code, Part 750,
Appendix A). As required by Illinois law and IDHR Regulation, the Equal
Opportunity Employment clause is incorporated by reference in its entirety
as though fully set forth herein.
It shall comply with the Prohibition of Segregated Facilities clause, which is
incorporated by reference in its entirety as though fully set forth herein. See,
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Illinois Human Rights Act (775 ILCS 5/2-105). See also, Illinois Department
of Human Rights Rules and Regulations, Title 44, Part 750. Administrative
Code, Title 44: Government Contracts, Procurement and Property
Management, Subtitle B: Supplemental Procurement Rules, Chapter X:
Department of Human Rights, Part 750: Procedures Applicable to All
Agencies, Section 750.160: Segregated Facilities (44 III. Adm. Code
750.160).
It shall comply with the Americans with Disabilities Act (42 U.S.C. 12101, et
seq.) and Article 2 of the Illinois Human Rights Act (775 ILCS 5/2-101, et
seq.).
Any construction contracts entered into by the Business relating to the
Project and any additional improvements to the Property shall require all
contractors and subcontractors to comply with the Illinois Fair Employment
Practices Act and the Illinois Prevailing Wage Act and the federal Davis
Bacon Act, if applicable.
The Business is neither delinquent in the payment of any tax administered
by the Illinois Department of Revenue nor delinquent in the payment of any
money owed to the Village.
It is in full compliance with the Federal Highway Administration Rules on
Controlled Substances and Alcohol Use and Testing, 49 CFR Parts 40 and
382, but only to the extent applicable.
(f) The Business, and its employees, sub -consultants and sub -contractors,
shall comply with any and all applicable laws, regulations and rules
promulgated by any Federal, State, County, Village, or other governmental
authority or regulatory body pertaining to all aspects of this Agreement, now
in effect, or which may become in effect during the performance of this
Agreement. The scope of the laws, regulations and rules referred to in this
paragraph includes, but is in no way limited to, the Occupational Safety and
Health Act standards, the Illinois Human Rights Act, the Illinois Equal Pay
Act of 2003, along with the standards and regulations promulgated pursuant
thereto (including but not limited to those safety requirements involving work
on elevated platforms), all forms of traffic regulations, public utility, Interstate
and Intrastate Commerce Commission regulations, Workers'
Compensation Laws, the Substance Abuse Prevention on Public Works
Projects Act, Prevailing Wage Laws, the Smoke Free Illinois Act, the USA
Security Act, the Federal Social Security Act (and any of its titles), and any
other law, rule or regulation of the Illinois Department of Labor, Illinois
Department of Transportation, Illinois Environmental Protection Act, Illinois
Department of Human Rights, Human Rights Commission, EEOC, and the
Village of Mount Prospect. In the event that the Business, or its employees, sub -
consultants and sub -contractors, in performing under this Agreement are
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found to have not complied with any of the applicable laws and regulations
as required by this Agreement, then the Business shall indemnify and hold
the Village harmless, and pay all amounts determined to be due from the
Village for such non-compliance by the Business, including but not limited
to fines, costs, attorneys' fees and penalties.
(g) The Business shall further comply with all applicable Federal, State, County
and local laws, rules and regulations in carrying out the terms and
conditions of this Agreement, including the following:
(i) Employment of Illinois Workers on Public Works Act Compliance. To
the extent required by law, the Business agrees to comply with the
provisions of the Employment of Illinois Workers on Public Works Act
(30 ILCS 570/0.01 et seq.).
(ii) Preference to Veterans Act Compliance. The Business will comply
with the Preference to Veterans Act (330 ILCS 55).
(iii) Patriot Act Compliance. The Business represents and warrants to
the Village that neither it nor any of its principals, shareholders,
members, partners, or affiliates, as applicable, is a person or entity
named as a Specially Designated National and Blocked Person (as
defined in Presidential Executive Order 13224) and that it is not
acting, directly or indirectly, for or on behalf of a Specially Designated
National and Blocked Person. The Business further represents and
warrants to the Village that the Business and its principals,
shareholders, members, partners, or affiliates, as applicable, are not,
directly or indirectly, engaged in, and are not facilitating, the
transactions contemplated by this Agreement on behalf of any
person or entity named as a Specially Designated National and
Blocked Person. The Business agrees to defend, indemnify and hold
harmless the Village, its elected or appointed officials, president and
trustees, employees, agents, representatives, engineers, and
attorneys, from and against any and all claims, damages, losses,
risks, liabilities, and expenses (including reasonable attorney s' fees
and costs) arising from or related to any breach of the
representations and warranties in this subsection.
(h) Other Laws; Changes in Laws. The Business further covenants that it shall
comply with all applicable Federal laws, State laws and regulations
including without limitation, those regulations in regard to all applicable
equal employment opportunity requirements, and such laws and regulations
relating to minimum wages to be paid to employees, limitations upon the
employment of minors, minimum fair wage standards for minors, payment
of wages due employees, and health and safety of employees. The
Business agrees to pay its employees, if any, all rightful salaries, medical
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benefits, pensions and social security benefits pursuant to applicable labor
agreements and federal and State statutes, and further agrees to make all
required withholdings and deposits therefor. The Business agrees to
maintain full compliance with changing government requirements that
govern or apply to the construction of the Project and any additional
improvements thereto, and its operation and maintenance of the Project on
the Property. The Business understands and agrees that the most recent of
such federal, county, State, and local laws and regulations will govern the
administration of this Agreement at any particular time. Likewise, the
Business understands and agrees that new federal, county, State and local
laws, regulations, policies and administrative practices may be established
after the date of this Agreement has been executed and may apply to this
Agreement.
(i) Any claims or lawsuit or complaint of violation of laws that is received by the
Business relative to this Agreement shall be promptly forwarded to the
Village in accordance with the notice provisions of this Agreement.
Q) The Business further acknowledges that because the Village is a municipal
entity that this Agreement is subject to the approval of and is not
enforceable until approved at an open meeting by the Corporate Authorities.
If such approval is not so received, this Agreement shall have never been
in effect.
(k) The Business recognizes and agrees that the Village shall review and
process all requested approvals and permits relating to the Project in
compliance with applicable Village ordinances and laws of the State of
Illinois, including but not limited to approval of the Plans and elevations,
excavation permits, grading permits, building permits and occupancy
permits, and failure on the part of the Village to grant or issue any required
permit shall not be deemed to give rise to any claim against or liability to the
Village pursuant to this Agreement except for mandamus or specific
performance. The Village agrees, however, that such non -zoning approvals
and permits shall not be unreasonably withheld, conditioned or delayed.
Village further agrees and acknowledges that all building permit fees
applicable to the Project shall be waived. Business agrees that it shall pay
all other costs associated with the Project as provided by applicable
ordinance, including, but not limited to: any third -party inspection fees, water
service connection fees, certificates of occupancy and/or any other charges
or fees from the Village applicable to the Project as would be applicable to
any other construction project in the Village. This obligation shall only be
required as to such charges or fees of the Village that are as provided by
applicable ordinance and effective at the time of execution of this
Agreement.
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(1) The Business has identified adequate funds in an amount not less than that
required to complete relocation to the Subject Property, plus the cost of any
anticipated and unanticipated contingencies, and shall use its best efforts
to secure adequate working capital necessary to complete the Project in a
timely manner in accordance with the terms of this Agreement.
(m) Concurrently with execution of this Agreement, Business shall disclose to
the Village the names, addresses and ownership interests of all persons
that have an ownership interest in the Business, together with such
supporting documentation that may be reasonably requested by the Village.
Business further agrees to notify the Village throughout the term of this
Agreement of the names, addresses and ownership interests of any
changes of owners of the Business.
5.2. Village Representations, Warranties, Covenants and Obligations. The Village
makes the following representations, warranties, covenants, and commitment obligations with
regard to this Agreement:
(a) The Village represents and warrants to the Business that the Village has
the requisite power and authority to enter into and fully carry out this
Agreement, including the execution of all instruments and documents
delivered or to be delivered hereunder.
(b) The Village agrees to promptly review elements of each submission and
each Phase of the Project and shall approve or reject the same in
accordance with applicable law within a reasonable time, or as specifically
negotiated into this Agreement. In the event the Village opines that any
submission of the Village should be amended or rejected, the Village shall
contact the Business to resolve the issue and ensure the efficient
administration of the Project and the Phases of the same.
ARTICLE V I. INSURANCE
6.1. Builder's Risk Prior to Completion. Prior to completion of the construction of the
Project as evidenced by the issuance of the final certificate of occupancy for the Property, the
Business shall keep in force at all times completed builder's risk insurance against risks of
physical loss, including collapse, covering the total value of work performed and equipment,
supplies, and materials furnished for the Project (including onsite stored materials). Such
insurance policies shall be issued in an amount equal to one hundred percent (100%) of the
insurable value of the Project at the date of completion and with coverage available in a non -
reporting form on the so-called "all-risk" form of policy. All such policies shall contain a provision
that they will not be canceled or modified without 30 days' prior written notice to the Village.
7.2. Insurance During Term of A reement. Prior to commencement of the Project,
the Business (or the Business' contractor) shall procure and deliver to the Village, at the
Business (or such contractors) cost and expense, and shall maintain in full force and effect until
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each and every obligation of the Business contained in this Agreement has been fully paid or
performed, a policy or policies of general comprehensive liability insurance and, during any
period of construction, contractor's liability insurance and workers' compensation insurance, with
liability coverage under the comprehensive insurance to be not less than $5,000,000 for each
occurrence and $10,000,000 total and including automobile insurance coverage, all such
policies to be in such form and issued by such companies as shall be reasonably acceptable to
the Village to protect the Village and the Business against any liability incidental to the use of or
resulting from any claim for injury or damage occurring in or about the Redevelopment Project
or the improvements or the construction and improvement thereof. Each such policy shall name
the Village and its officers, employees, agents, attorneys, and representatives as additional
insureds and shall contain an affirmative statement by the issuer that it will give written notice to
the Business and the Village at least 30 days prior to any cancellation or amendment of its policy.
Any other insurance or self-insurance maintained by the Village shall be in excess to and not
contribute to the protection the Village receives as an additional insured on the insurance
required by this Agreement.
7.3. Compliance with Village Codes Rules Ordinances and Rec ulatlons. Specific
requirements imposed on the Business with regard to indemnification and insurance coverage
shall not be considered exclusive of any other Village code, rule, ordinance, or regulation of
general applicability. The inclusion of such specific requirements in this Agreement shall not be
construed as a waiver of the Village's independent right and authority to apply and enforce its
various codes, rules, regulations, and ordinances of general applicability for insurance, surety,
and bonding against the County and its successors in title.
ARTICLE VIII. GENERAL PROVISIONS
8.1. Time of Essence. Time is of the essence of this Agreement. The Parties will
make every reasonable effort to expedite the subject matters hereof and acknowledge that the
successful performance of this Agreement requires their continued cooperation.
8.2. Breach.
(a) Village Remedies. In the event the Business fails or refuses to:
(i) timely start construction of the Project on the Properties within the
relevant time frames provided for herein, or
(ii) timely complete the Project, within the relevant time frames provided
herein, subject to Force Majeure and weather conditions and the
mutual agreement of the Parties, or
(iii) maintain the Project following construction in conformance with
Village approvals, including the special use permit and Site Plan, and
Village standards, then
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the Village may, after thirty (30) days written notice to the Business, declare the Business in
default of this Agreement for which there was a default related to items (i) through (iii) above,
and seek solely the following remedies and solely with respect the default: (a) terminate this
Agreement, and seek Liquidated Damages, solely as it relates to the default; (b) compensatory
damages; (c) specific performance; (d) self-help; and (e) injunctive relief.
(b) Business Remedies. If the Village fails to perform its obligations hereunder,
the Business may, after thirty (30) days' notice to the Village, declare the Village in default
and seek solely the following remedies: (a) injunctive relief; (b) specific performance; and
(c) mandamus,
(c) Cumulative Remedies. Unless expressly provided otherwise herein, the
rights and remedies of the parties provided for herein shall be cumulative and concurrent
and shall include all other rights and remedies available at law or in equity, may be
pursued singly, successively or together, at the sole discretion of either party and may be
exercised as often as occasion therefore shall arise.
8.3 Amendment. This Agreement, and any exhibits attached hereto, may be
amended only by the mutual consent of the Parties evidenced by a written amendment, by the
adoption of an ordinance or resolution of the Village approving said written amendment, as
provided by law, and by the execution of said written amendment by the Parties or their
successors in interest.
8.4 Assignment. Except as expressly provided in this Agreement, the Business'
rights and duties under this Agreement shall not be assignable or transferable at any time without
the prior written approval of the Village, with such approval not to be unreasonably withheld,
delayed, or denied. The Village shall provide such consent unless in the Village's reasonable
judgment, a proposed assignee does not have qualifications and financial responsibility
necessary and adequate to fulfill the obligations of the Business under this Agreement. Any
assignment of legal or equitable right without such consent shall make this Agreement null and
void. Notwithstanding the foregoing, the Business shall have the right to assign or transfer this
Agreement, in whole or in part, without the Village's approval, in the following instances: (i) after
the applicable Commencement Date, the sale or lease of all or a portion of the Project to end
users of the Project with respect to such portion of the Project; or (ii) to a Secured Lender as
collateral and such Secured Lender shall have the right to perform any term, covenant, condition
or agreement and to remedy any default, in accordance with the terms of this Agreement, by the
Business under this Agreement. No Secured Lender shall be personally obligated to perform
the obligations of the Business unless and until such Secured Lender (i) takes possession of the
Property, as the case may be, and (ii) seeks entitlement to the rights and benefits under this
Agreement. "Secured Lender" means a bank, financial institution or other person or entity from
which the Business has borrowed funds to finance all or a portion of the Project and in whose
favor the Business has agreed to provide a security interest as collateral for such loan.
8.5 Severability. If any provisions, covenants, agreement or portion of this
Agreement, or its application to any persons, entity or property, is held invalid, such invalidity
shall not affect the application or validity of any other provisions, covenants or portions of this
2027753_1
Agreement and, to that end, all provisions, covenants, agreements or portions of this Agreement
are declared to be severable.
8.6 Completion. Upon satisfactory completion of the Project, the Village shall issue
to the Business a "Certificate of Completion". The Certificate of Completion shall serve as
evidence on the issue of whether Business has fulfilled its duties and obligations under this
Agreement. The issuance of such Certificate shall not be unreasonably withheld by the Village.
8.7 Illinois Law. This Agreement shall be construed in accordance with the laws of
the State of Illinois. The sole and exclusive venue for any and all disputes arising out of or
relating to this Agreement shall be the Circuit Court of Cook County, Illinois.
8.8 Notice. Any and all notices, demands, consents and approvals required under
this Agreement shall be sent and deemed received: (1) on the third business day after mailed
by certified or registered mail, postage prepaid, return receipt requested, or (2) on the next
business day after deposit with a nationally -recognized overnight delivery service (such as
Federal Express or Airborne) for guaranteed' next business day delivery, or (3) by facsimile
transmission on the day of transmission with the original notice together with the confirmation of
transmission mailed by certified or registered mail, postage prepared, return receipt requested,
if addressed to the Parties as follows.
If to Business: 500 Central Road LLC
ATTN: OJ Isak, Member
500 W. Central Road, Mount Prospect, Illinois 60056
Chicago, Illinois 60625
With copies to: C 1
If to the Village: Village of Mount Prospect
Attention: Village Manager
50 South Emerson Street
Mount Prospect, Illinois 60056
With copies to; Lance C. Malina, Village Attorney
Klein, Thorpe & Jenkins, LTD.
120 S. LaSalle Street, Suite 1710
Chicago, Illinois 60603
8.9 .Joint "denture Clause. Nothing contained in this Agreement or subsequent
agreements between the Village and the Business is intended by the Parties to create a
partnership or joint venture between the Parties, and any implication to the contrary is hereby
expressly disavowed. It is understood and agreed that this Agreement does not provide for the
joint exercise by the Parties of any activity, function, or service, nor does it create a joint
enterprise, nor does it constitute either Party as an agent of the other for any purpose
whatsoever. Neither Party shall in any way assume any of the liability of the other for acts of the
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other or obligations of the other. The Village shall in no way assume any liability of the Business,
if any, for the removal of Hazardous Substances, including petroleum products, from, on or under
the Property, if any. Each Parry shall be responsible for any and all suits, demands, costs, or
actions proximately resulting from its own individual acts or omissions.
8.10 Attorneys' Fees. In the event either Party elects to file any action in order to
enforce the terms of this Agreement, or for a declaration of rights hereunder, the prevailing Party,
as determined by the court in such action, shall be entitled to recover all of its court costs and
reasonable attorneys' fees as a result thereof from the losing Party.
8.11 Completeness and Modifications. This Agreement and Exhibits referenced
herein constitute the entire agreement between the Parties with respect to the transaction
contemplated herein, and shall supersede all prior discussions, understandings or agreements
between the Parties. This Agreement may not be amended, modified or otherwise changed in
any manner except by a writing executed by the Parties hereto.
8.12 Recording. The Village shall have the right to record this Agreement or any
memorandum or short form of this Agreement against the Property.
8.13 Countess. This Agreement may be executed in counterparts, all of which
counterparts taken together shall be deemed to be but one original.
8.14 Severability. If any of the provisions of this Agreement, or the application thereof
to any person or circumstance, shall be invalid or unenforceable to any extent, the remainder of
the provisions of this Agreement shall not be affected thereby, and every other provision of this
Agreement shall be valid and enforceable to the fullest extent permitted by law.
8.15 No Waiver. No waiver of any provisions or condition of this Agreement by any
Party shall be valid unless in writing signed by such Party. No such waiver shall be taken as a
waiver of any other or similar provision or of any future event, act, or default.
8.16 Terra of Agreement. The term of this Agreement (the "Term") shall commence
on (the "Effective Date") and shall continue until completion of the Project
and approval of the Project by the Village.
8.17 Estoppel Certificates. Each of the Parties hereto agrees to provide the other,
upon not less than five (5) 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.
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8.18 Force Ma'eure. Neither the Village nor the Business nor any successor in interest
to either of them shall be considered in breach of or in default of its obligations under this
Agreement in the event of any delay caused by failure or unreasonable delay, after the Business
or Village, as the case may be, has utilized its best efforts to prevent such failure or unreasonable
delay, in the receipt of any governmental permits, damage or destruction by fire or other casualty,
strike, housing recession, litigation concerning the Project, shortage of material, unusually
adverse weather conditions such as, by way of illustration and not limitation, severe rain storms
or below -freezing temperatures of abnormal degree or for an abnormal duration, tornadoes or
cyclones, pandemics, and other events or conditions beyond the reasonable control of the party
affected which in fact interferes with the ability of such party to discharge its obligations
hereunder ("Force Majeure"). The time for a party's performance of any obligation under this
Agreement shall be extended on a day -for -day basis during the period of the event of Force
Majeure. In the event a party asserts an event of Force Majeure in relation to any obligations
under this Agreement, the parties will meet and negotiate in good faith the resolution of the
circumstances surrounding such asserted event of Force Majeure.
IN WITNESS WHEREOF, the Parties have duly executed this Agreement pursuant to all
requisite authorizations as of the date first above written.
VILLAGE OF MOUNT PROSPECT,
an Illinois home rule municipal corporation
By: mxct4 A;<,
Mi ha Cassidy, age Manager
ATTEST:
'`4
aa,-
Ka(en Agoranos, Oillage Clerk
500 CENTRAL ROAD, LLC,
an Illinois limited liability company
By; ,
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EXHIBITS
Exhibit A Legal Description (the Subject Property)
Exhibit B Plans and Specifications for the 500 W Central Road,
Mount Prospect, Illinois Project
EXHIBIT C Village of Mount Prospect Ordinance No. 6656
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EXHIBIT A
LEGAL DESCRIPTION
500 W CENTRAL RD, MOUNT PROSPECT, 1L
LOT'A" IN OWNER'S RESUBDIVISION OF LOT 3 (EXCEPT THE WEST 282.52 FEET
THEREOF) OF CHARLES'S BEHLENDORF'S DIVISION OF THE SOUTHWEST
QUARTER OF THE NORTHWEST QUARTER AND THE WEST 10.58 CHAINS OF THE
SOUTHWEST QUARTER OF SECTION 34, TOWNSHIP 42 NORTH, RANGE 11, EAST
OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT THE RIGHT OF WAY OF THE
CHICAGO AND NORTHWESTERN RAILROAD COMPANY) ACCORDING TO THE
PLAT THEREOF OF SAID OWNER'S RESUBDIVISION REGISTERED IN THE OFFICE
OF THE REGISTRAR OF TITLES OF COOK COUNTY, ILLINOIS ON DECEMBER 21,
1970 AS DOCUMENT NUMBER 2535801, IN COOK COUNTY, ILLINOIS.
PIN: 03-34-326-008-0000
16
EXHIBIT B
Plans and Specifications for the 500 Central Road, Mount Prospect, Illinois
Project
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EXHIBIT B
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EXHIBIT C
Village of Mount Prospect Ordinance No. 6656
18
ORDINANCE NO. 6656
AN ORDINANCE GRANTING A ZONING MAP AMENDMENT AND A VARIATION FOR PROPERTY
LOCATED AT 500 W. CENTRAL ROAD,
MOUNT PROSPECT, ILLINOIS
WHEREAS, Thomas Budzik ("Petitioner"), is seeking a Zoning Map Amendmentfrom 1-1 Limited Industrial to
B-5 Central Commercial and a variation for increased density to allow twenty (20) residential dwelling units for
property located at 500 W. Central Road, Mount Prospect, Illinois (the "Subject Property') Mount Prospect and
legally described as:
LOT 'A" IN OWNER'S RESUBDIVISION OF LOT 3 (EXCEPT THE WEST 282.52 FEET THEREOF) OF
CHARLES'S BEHLENDORF'S DIVISION OF THE SOUTHWEST QUARTER OF THE NORTHWEST
QUARTER AND THE WEST 10.58 CHAINS OF THE SOUTHWEST QUARTER OF SECTION 34,
TOWNSHIP 42 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT THE RIGHT
OF WAY OF THE CHICAGO AND NORTHWESTERN RAILROAD COMPANY) ACCORDING TO THE PLAT
THEREOF OF SAID OWNER'S RESUBDIVISION REGISTERED IN THE OFFICE OF THE REGISTRAR OF
TITLES OF COOK COUNTY, ILLINOIS ON DECEMBER 21, 1970 AS DOCUMENT NUMBER 2535801, IN
COOK COUNTY; ILLINOIS.
PI N(s): 03-34-326-008-0000
WHEREAS, the Petitioner seeks 1) Zoning Map Amendment to rezone the Subject Property from 1-1
Limited Industrial to B-5 Central Commercial 2) Variation for increased density to allow twenty (20)
residential dwelling units as shown on the Petitioner's Site Plan attached as Exhibit "A" and;
WHEREAS, a Public Hearing was held on the request for a Zoning Map Amendment and Variation being the
subject of PZ -09-2'2 before the Planning and Zoning Commission of the Village of Mount Prospect on the 81h
day of December, 2022, pursuant to proper legal notice having been published in the Daily Herald on the 23rd
of November; and
WHEREAS, the Planning and Zoning Commission has submitted its findings and recommendations to the
Mayor and Board of Trustees in support of the request being the subject of PZ -09-22; and
WHEREAS, the Mayer and Board of Trustees of the Village of Mount Prospect have given consideration to the
request herein and have determined that the request meets the standards of the Village and that the granting
of the 1) Zoning Map Amendment from 1-1 Limited Industrial to B-5 Central Commercial and 2) Variation for
increased density to allow twenty (20) residential dwellings would be in the best interest of the Village.
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE
OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS ACTING IN THE EXERCISE OF THEIR HOME RULE
POWERS:
SECTION ONE: The recitals set forth hereinabove are incorporated as findings of fact by the Mayor and Board
of Trustees of the Village of Mount Prospect.
SECTION TWO The Mayor and Board of Trustees of the Village of Mount Prospect do hereby grant 1)
Zoning Map Amendment from 1-1 Limited Industrial to B-5 Central Commercial for the Subject Property and 2)
Variation for increased density subject to the following conditions:
1. Development of the site in general conformance with the plans prepared by Thomas Architects, dated
9/14/2022;
2. The Petitioner shall address all comments included in the Village review letter dated October 228,
2022;
3. Submittal of landscape, tree inventory, irrigation, and photometric plans that comply with the Village
codes and regulations;
4. All ground and rooftop mounted mechanical equipment shall be screened according to Village Code;
5. Petitioner shall provide a complete building code analysis during the permitted process, which shall
comply with the requirements set forth in the adopted building codes and amendments as adopted by
the Village;
6. Prior to issuance of any certificate of occupancy, easements shall be confirmed/granted over the
public utilities (water and storm) that cross the east side of the site, in a form acceptable to the
Village;
7. The Petitioner shall make good faith efforts to modify the site plan to include two entrances into the
parking area from the existing curb cut in front of the subject property;
8. Compliance with all applicable Village Code requirements, including but not limited to zoning, fire
code, sign code regulations, and building regulations."
SECTION THREE: The Village Clerk is hereby authorized and directed to record a certified copy of this
Ordinance and Exhibit "A" Site Plan with the Recorder of Deeds of Cook County on title to the Subject
Property.
SECTION FOUR: This Ordinance shall be in full force and effect from and after its passage, approval and
publication in in the manner provided by law.
AYES: Gens, Matuszak, Rogers, Saccotelli, Zadel
NAYS: Filippone
ABSENT: None
PASSED and APPROVED this 20th day of December, 2
a A J qt7
Paul Wm. Hofert, fwt or
ATTEST:
Karen M. Agorano„
Village Clerk
HACLKOMMORDI NANCE2TZ-09-22
ORDINANCE NO. 6768
AN ORDINANCE AUTHORIZING THE EXECUTION OF A REDEVELOPMENT
AGREEMENT BETWEEN THE VILLAGE OF MOUNT PROSPECT AND 500
CENTRAL ROAD LLC FOR RESIDENTIAL DWELLING UNITS
NOW, THEREFORE, BE IT ORDAINED, by the Mayor and Board of Trustees of
the Village of Mount Prospect, Cook County, Illinois, as follows:
SECTION 1: The Mayor and Board of Trustees of the Village find as follows:
A. The Village of Mount Prospect ("Village") is a home rule municipality
pursuant to Section 6 of Article VII of the Constitution of the State of Illinois.
B. 500 Central Road LLC (the "Business") desires to develop up to twenty
residential dwelling units for property located at 500 West Central Road,
Mount Prospect, Illinois.
C. This Agreement has been submitted to the Corporate Authorities of the
Village for consideration and review, the Corporate Authorities have taken
all actions required to be taken prior to the execution of this Agreement in
order to make the same binding upon the Village according to the terms
hereof, and any and all actions of the Corporate Authorities of the Village
precedent to the execution of this Agreement have been undertaken and
performed in the manner required by law.
D. This Agreement has been submitted to the Business for consideration and
review, the Business has taken all actions required to be taken prior to the
execution of this Agreement in order to make the same binding upon the
Business according to the terms hereof, and any and all action of the
Business precedent to the execution of this Agreement has been
undertaken and performed in the manner required by law.
E. The Corporate Authorities of the Village, after due and careful
consideration, have concluded that the development of the Project will be
in the best interests of the Village by furthering the health, safety, morals
and welfare of its residents and taxpayers.
H. It is the desire of the Village to approve the Redevelopment Agreement for
the 500 West Central Road Project attached hereto as EXHIBIT A and
made part hereof.
SECTION 2: Based upon the foregoing, the Village Mayor, Village Clerk and
Village Manager, or their designees, be and are hereby authorized and directed to
execute the attached Redevelopment Agreement and perform the Village's obligations
thereunder.
SECTION 3: This Ordinance shall be in full force and effect from and after its
passage, approval and publication in pamphlet form as provided by law.
ADOPTED this 4th day of December 2024 pursuant to a roll call vote as follows:
AYES: Dante, Filippone, Gens, Grossi, Matuszak, Saccotelli
NAYS: None
ABSENT: None
APPROVED this 4th day of December 2024, by the Village Mayor of the Village of
Mount Prospect, and attested by the Village Clerl� on the same day.
Paul Wm. Hp" fert, ylllage Mayor
APPROVED and FILED in my office this 4th day of December 2024 and
published in pamphlet form in the Village of Mount Prospect, Cook County, Illinois.
ATTEST:
Village C � rk
REDEVELOPMENT AGREEMENT FOR THE 500 WEST CENTRAL ROAD PROJECT
This REDEVELOPMENT AGREEMENT (this "Agreement"), is made and entered into
as of the 4th day of December, 2024 (the "Effective Date"), by and between the Village of
Mount Prospect, an Illinois home rule municipal corporation located in Cook County, Illinois
(the "Village"), and 500 Central Road LLC, an Illinois Limited Liability Company (the
"Business"). The Village and the Business are sometimes hereinafter referred to individually
as a "Party" and collectively as the "Parties".
RECITALS
WHEREAS, the Village is a home rule unit of government in accordance with Article VII,
Section 6, of the Constitution of the State of Illinois, 1970; and
WHEREAS, the Business desires to develop up to twenty residential dwelling units for
property located at 500 West Central Road, Mount Prospect, Illinois (the "Project") being legally
described and depicted as set forth in EXHIBIT A (the "Subject Property"), attached hereto and made
part hereof; and
WHEREAS, this Agreement has been submitted to the Corporate Authorities of the
Village for consideration and review, the Corporate Authorities have taken all actions required
to be taken prior to the execution of this Agreement in order to make the same binding upon the
Village according to the terms hereof, and any and all actions of the Corporate Authorities of the
Village precedent to the execution of this Agreement have been undertaken and performed in
the manner required by law; and
WHEREAS, this Agreement has been submitted to the Business for consideration and
review„ the Business has taken all actions required to be taken prior to the execution of this
Agreement in order to make the same binding upon the Business according to the terms hereof,
and any and all action of the Business precedent to the execution of this Agreement has been
undertaken and performed in the manner required by law; and
WHEREAS, the Corporate Authorities of the Village, after due and careful consideration,
have concluded that the development of the Project will be in the best interests of the Village by
furthering the health, safety, morals and welfare of its residents and taxpayers.
NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and
agreements herein contained, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Parties do hereby agree as follows:
ARTICLE I. RECITALS PART OF AGREEMENT; EFFECT
The representations, covenants and recitations set forth in the foregoing recitals are
material to this Agreement and are hereby incorporated into and made a part of this Agreement
as though they were fully set forth in this Article I.
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ARTICLE II. MUTUAL ASSISTANCE
The Parties agree to take such actions, including the execution and delivery of such
documents, instruments, petitions and certifications as may be necessary or appropriate, from
time to time, to carry out the terms, provisions and intent of this Agreement and to aid and assist
each other in carrying out said terms, provisions and intent.
ARTICLE III. DEVELOPMENT OF THE PROJECT
3.1 Village Approvals. All procedures and requirements for approval of the Plans
(as defined below) shall be submitted and considered pursuant to applicable Village ordinance
as well as normal and standard Village procedures in relation thereto (the "Plan Approval').
Execution of this Agreement shall not be considered as approval or waiver of all necessary
building permits or associated permit fees required for Business to complete the Project.
3.2 Village Waiver of Building Permit Fees. The Village agrees and acknowledges
that all building permit fees applicable to the Project shall be waived in an amount not to exceed
$150,000.00,
3.3 Business Payment of Project Costs. Business agrees that it shall pay all costs
associated with the Project, other than the building permit fees as set forth in Section 3.2, as
provided by applicable ordinance, including,, but not limited to: any third -party inspection fees,
water service connection fees, certificates of occupancy and/or any other charges or fees from
the Village applicable to the Project as would be applicable to any other construction project in
the Village.
3.4 The Redevelopment of the Subject Pro ert The Developer for the Project
agrees to redevelop the Subject Property in a manner consistent:
a. The architectural plans for the Subject Property titled "Plans and Specifications
for an ADAPTIVE RE -USE PROJECT, 500 Central Road, Mount Prospect ILK"
as prepared by the The Lyons Design Group, LLC, dated April 29, 2024, with
the latest revision date of October 29, 2024, except that:
(i) The Left (West) Side Elevation as depicted on sheets A6.0 and A6.1 be
revised to show the existing openings and hardie board material
wrapping the existing posts on the first floor in colors consistent in
appearance with the second and third floors (See Exhibit B, attached);
and
(ii) The Right (East) Side Elevation as depicted on Sheets A6.0 and A6.1
be revised to include longboard tongue and groove horizontal and vetical
siding on the first floor in the area surrounding the Fire Sprinkler Room
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consistent with the second and third floor elevations (See Exhibit B,
attached).
b. The engineering plans titled "Final Site Plan Commercial Development 500 W.
Central Road, Mount Prospect, IL Cook County, 60056" as prepared by Fluenta
Consulting, except that:
(i) The Geometric Plan as depicted on Sheet C3 (See Exhibit B, attached)
be revised to include a 41.5' x 16' area for delivery and
load inglunloading on the Subject Property immediately west of the point
of ingress/egress consistent with the plans approved as part of
Ordinance No. 6656 (See Exhibit C, attached), subject to the approval
of the Village Engineer.
(ii) All other site plans shall be revised to include the loading area as
provided in subsection (b)(i), above, subject to the approval of the
Village Engineer.
3.5 Compliance with Codes. The Business, in redeveloping the Property, shall
comply with all applicable Village, County, State and Federal codes and requirements, including
all requirements in the Village's Zoning Ordinance.
3.6 Zoning. Notwithstanding anything contained herein to the contrary, the Village
represents and warrants that the proposed use of the Property as residential units is a permitted
use under the Village Zoning Ordinance, The Business agrees that the Plans for the Project shall
be in conformance with this Agreement and the Village Zoning Ordinance.
3.7 Damage to Public Improvements and Off -Site improvements. To the extent
that the Business or its employees, contractors, subcontractors or agents damage any private
or public utilities or other private or public improvements of any kind that are located on-site or
oft -site relative to the Property as part of the Project, the Business agrees to promptly repair or
replace or restore such damaged improvements with like kind and like quality materials as
reasonably directed by the Village.
ARTICLE IV. AUTHORITY
4.1. Powers. The Parties acknowledge that they make this Agreement based upon
their respective understanding that the Parties have full right, power and authority under
currently applicable law to deliver and execute and perform the terms of this Agreement, and
that all of the foregoing have been duly and validly authorized and approved by all necessary
Village and Business proceedings, findings and actions, and the Parties jointly and
severally agree that this Agreement constitutes the legal, valid and binding obligations of the
Village and the Business, and are enforceable in accordance with their respective terms and
provisions.
4.2. Authorized Parties. Whenever under the provisions of this Agreement and other
related documents and instruments or any supplemental agreements, any request,
demand,
2027753_1
approval, notice or consent of the Village or the Business is required, or the Village or the
Business is required to agree or to take some action at the request of the other, such request,
demand, approval, notice or consent, or agreement shall be given for the Village, unless
otherwise provided herein, by the Village President or their designee and for the Business,
unless otherwise provided herein, by the Business President or their designee; and any Party
shall be authorized to act on any such request, demand, approval, notice or consent, or
agreement or other action and neither Party hereto shall have any complaint against the other
as a result of any such action taken.
ARTICLE V. REPRESENTATIONS AND WARRANTIES
5.1. Business Representations, Warranties Covenants and Orli aeon . The
Business makes the following representations„ warranties, covenants, and obligation
commitments with regard to this Agreement:
(a) The Business represents and warrants to the Village that the Business has
the requisite power and authority to enter and fully carry out this Agreement,
including the execution of all instruments and documents delivered or to be
delivered hereunder.
(b) The Business covenants that the Project at the Property during the term of
this Agreement shall be constructed, fully completed and maintained in a
good and workmanlike manner in accordance with all applicable Federal,
State and County laws and regulations and the Village codes, ordinances
and regulations, including but not limited to all local zoning ordinances and
regulations, and the building, electric, plumbing and fire codes, that are
applicable to the Project. The Business certifies that it shall replace all
existing awnings at the Property as part of the Project.
(c) The Business warrants that it has and will continue to do all things
necessary to preserve and keep in full force and effect its existence and
standing as a business concern licensed by the State of Illinois, so long as
this Agreement is in effect, and for so long as Business has any other
remaining obligation pursuant to the terms of this Agreement, whichever is
the first to occur.
(d) To Business' knowledge, there are no actions at law or similar proceedings
which are pending or threatened against Business which would result in any
material and adverse change to Business' financial condition, or which
would materially and adversely affect the level of Business assets as of the
date of this Agreement or that would materially and adversely affect the
ability of Business to proceed with the construction and development of the
Project.
(e) The Business certifies that:
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It is not barred from contracting with any unit of State or local government
as result of violating 720 ILCS 5/33E-3 or 5/33E-4 (bid rigging or bid
rotating) or 5/33E-6 (interference with contract submission and award by
public official) or as a result of a violation of 820 ILCS 130/1 et seq. (Illinois
Prevailing Wage Act) or as a result of: (1) a delinquency in the payment of
any tax administered by the Illinois Department of Revenue or any fee
required by any unit of local government or the State, unless the Party is
contesting, in accordance with the procedures established by the
appropriate revenue act, its liability for the tax or the amount of the tax or
the fee, as set forth in Section 11-42.1-1 et seq. of the Illinois Municipal
Code, 65 1 LCS 5/11-42.1-1 et seq.
It has not been convicted of, or is not barred for attempting to, rig bids, price-
fixing or attempting to fix prices as defined in the Sherman Anti -Trust Act
and Clayton Act. 15 U.S.C. § 1 et seq.; and has not been convicted of or
barred for bribery or attempting to bribe an officer or employee of a unit of
state or local government or school district in the State of Illinois in that
officer's or employee's official capacity. Nor has the Developer and its
officers, corporate authorities, employees and agents made admission of
guilt of such conduct which is a matter of record, nor has any official, officer,
agent or employee been so convicted nor made such an admission.
It shall comply with the Illinois Drug Free Work Place Act.
It shall comply with the Equal Opportunity Clause of the Illinois Human
Rights Act and the Rules and Regulations of the Illinois Department of
Human Rights and shall not commit unlawful discrimination and shall agree
to comply with all applicable provisions of the Illinois Human Rights Act,
Title VII of the Civil Rights Act of 1964, as amended, the Americans with
Disabilities Act, the Age Discrimination in Employment Act, Section 504 of
the Federal Rehabilitation Act, and all applicable rules and regulations.
It shall comply with its own written Sexual Harassment Policy in compliance
with Section 2-105 of the Illinois Human Rights Act (775 ILCS 5/2-
105(A)(4)).
It is and will remain an "Equal Opportunity Employer" as defined by federal
and State laws and regulations, and agrees to comply with the Illinois
Department of Human Rights (IDHR) Equal Opportunity Employment
clause as required by the IDHR's Regulations (44 III. Adm. Code,
Part 750,
Appendix A). As required by Illinois law and IDHR Regulation, the Equal
Opportunity Employment clause is incorporated by reference in its entirety
as though fully set forth herein.
It shall comply with the Prohibition of Segregated Facilities clause, which is
incorporated by reference in its entirety as though fully set forth herein. See,
2027753_,
Illinois Human Rights Act (775 ILCS 5/2-105). See also, Illinois Department
of Human Rights Rules and Regulations, Title 44, Part 750. Administrative
Code, Title 44: Government Contracts, Procurement and Property
Management, Subtitle B: Supplemental Procurement Rules, Chapter K
Department of Human Rights, Part 750: Procedures Applicable to All
Agencies, Section 750.160: Segregated Facilities (44 III. Adm. Code
750.160).
It shall comply with the Americans with Disabilities Act (42 U.S.C. 12101, et
seq.) and Article 2 of the Illinois Human Rights Act (775 ILCS 5/2-101, et
seq.).
Any construction contracts entered into by the Business relating to the
Project and any additional improvements to the Property shall require all
contractors and subcontractors to comply with the Illinois Fair Employment
Practices Act and the Illinois Prevailing Wage Act and the federal Davis
Bacon Act, if applicable.
The Business is neither delinquent in the payment of any tax administered
by the Illinois Department of Revenue nor delinquent in the payment of any
money owed to the Village.
It is in full compliance with the Federal Highway Administration Rules on
Controlled Substances and Alcohol Use and Testing, 49 CFR Parts 40 and
382, but only to the extent applicable.
(f) The Business, and its employees, sub -consultants and sub -contractors,
shall comply with any and all applicable laws, regulations and rules
promulgated' by any Federal, State, County, Village, or other governmental
authority or regulatory body pertaining to all aspects of this Agreement, now
in effect, or which may become in effect during the performance of this
Agreement, The scope of the laws, regulations and rules referred to in this
paragraph includes, but is in no way lumited to, the Occupational Safety and
Health Act standards, the Illinois Human Rights Act, the Illinois Equal Pay
Act of 2003, along with the standards and regulations promulgated pursuant
thereto (including but not limited to those safety requirements involving work
on elevated platforms), all forms of traffic regulations, public utility, Interstate
and Intrastate Commerce Commission regulations, Workers'
Compensation Laws, the Substance Abuse Prevention on Public Works
Projects Act, Prevailing Wage Laws, the Smoke Free Illinois Act, the USA
Security Act, the Federal Social Security Act (and any of its titles), and any
other law, rule or regulation of the Illinois Department of Labor, Illinois
Department of Transportation, Illinois Environmental Protection Act, Illinois
Department of Human Rights, Human Rights Commission, EEOC, and the
Village of Mount Prospect.: In the event that the Business, or its employees, sub -
consultants and sub -contractors, in performing under this Agreement are
2027753_1
found to have not complied with any of the applicable laws and regulations
as required by this Agreement, then the Business shall indemnify and hold
the Village harmless, and pay all amounts determined to be due from the
Village for such non-compliance by the Business, including but not limited
to fines, costs, attorneys' fees and penalties.
(g) The Business shall further comply with all applicable Federal, State, County
and local laws, rules and regulations in carrying out the terms and
conditions of this Agreement, including the following:
(i) Employment of Illinois Workers on Public Works Act Compliance. To
the extent required by law, the Business agrees to comply with the
provisions of the Employment of Illinois Workers on Public Works Act
(30 ILCS 570/0.01 et seq.).
(ii) Preference to Veterans Act Compliance. The Business will comply
with the Preference to Veterans Act (330 ILCS 55).
(iii) Patriot Act Compliance. The Business represents and warrants to
the Village that neither it nor any of its principals, shareholders,
members, partners, or affiliates, as applicable, is a person or entity
named as a Specially Designated National and Blocked Person (as
defined in Presidential Executive Order 13224) and that it is not
acting, directly or indirectly, for or on behalf of a Specially Designated
National and Blocked Person. The Business further represents and
warrants to the Village that the Business and its principals,
shareholders, members, partners, or affiliates, as applicable, are not,
directly or indirectly, engaged in, and are not facilitating, the
transactions contemplated by this Agreement on behalf of any
person or entity named as a Specially Designated National and
Blocked Person. The Business agrees to defend, indemnify and hold
harmless the Village, its elected or appointed officials, president and
trustees, employees, agents, representatives, engineers, and
attorneys, from and against any and all claims, damages, losses,
risks, liabilities, and expenses (including reasonable attorney s' fees
and costs) arising from or related to any breach of the
representations and warranties in this subsection.
(h) Other Laws; Changes in Laws. The Business further covenants that it shall
comply with all applicable Federal laws, State laws and regulations
including without limitation, those regulations in regard to all applicable
equal employment opportunity requirements, and such laws and regulations
relating to minimum wages to be paid to employees, limitations upon the
employment of minors, minimum fair wage standards for minors, payment
of wages due employees, and health and safety of employees. The
Business agrees to pay its employees, if any, all rightful salaries, medical
2027753_1
benefits, pensions and social security benefits pursuant to applicable labor
agreements and federal and State statutes, and further agrees to make all
required withholdings and deposits therefor, The Business agrees to
maintain full compliance with changing government requirements that
govern or apply to the construction of the Project and any, additional
improvements thereto, and its operation and maintenance of the Project on
the Property. The Business understands and agrees that the most recent of
such federal, county, State, and local laws and regulations will govern the
administration of this Agreement at any particular time. Likewise, the
Business understands and agrees that new federal, county, State and local
laws, regulations, policies and administrative practices may be established
after the date of this Agreement has been executed and may apply to this
Agreement.
(i) Any claims or lawsuit or complaint of violation of laws that is received by the
Business relative to this Agreement shall be promptly forwarded to the
Village in accordance with the notice provisions of this Agreement.
(j) The Business further acknowledges that because the Village is a municipal
entity that this Agreement is subject to the approval of and is not
enforceable until approved at an open meeting by the Corporate Authorities.
If such approval is not so received, this Agreement shall have never been
in effect.
(k) The Business recognizes and agrees that the Village shall review and
process all requested approvals and permits relating to the Project in
compliance with applicable Village ordinances and laws of the State of
Illinois, including but not limited to approval of the Plans and elevations,
excavation permits, grading permits, building permits and occupancy
permits, and failure on the part of the Village to grant or issue any required
permit shall not be deemed to give rise to any claim against or liability to the
Village pursuant to this Agreement except for mandamus or specific
performance. The Village agrees, however, that such non -zoning approvals
and permits shall not be unreasonably withheld, conditioned or delayed.
Village further agrees and acknowledges that all building permit fees
applicable to the Project shall be waived. Business agrees that it shall pay
all other costs associated with the Project as provided by applicable
ordinance, including, but not limited to: any third -party inspection fees, water
service connection fees, certificates of occupancy and/or any other charges
or fees from the Village applicable to the Project as would be applicable to
any other construction project in the Village. This obligation shall only be
required as to such charges or fees of the Village that are as provided by
applicable ordinance and effective at the time of execution of this
Agreement.
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(1) The Business has identified adequate funds in an amount not less than that
required to complete relocation to the Subject Property, plus the cost of any
anticipated and unanticipated contingencies, and shall use its best efforts
to secure adequate working capital necessary to complete the Project in a
timely manner in accordance with the terms of this Agreement.
(m) Concurrently with execution of this Agreement, Business shall disclose to
the Village the names, addresses and ownership interests of all persons
that have an ownership interest in the Business, together with such
supporting documentation that may be reasonably requested by the Village.
Business further agrees to notify the Village throughout the term of this
Agreement of the names, addresses and ownership interests of any
changes of owners of the Business.
5.2. Village Rep resentations Warranties Covenants. and Obli ations. The Village
makes the following representations, warranties„ covenants, and commitment obligations with
regard to this Agreement:
(a) The Village represents and warrants to the Business that the Village has
the requisite power and authority to enter into and fully carry out this
Agreement, including the execution of all instruments and documents
delivered or to be delivered hereunder.
(b) The Village agrees to promptly review elements of each submission and
each Phase of the Project and shall approve or reject the same in
accordance with applicable law within a reasonable time, or as specifically
negotiated into this Agreement. In the event the Village opines that any
submission of the Village should be amended or rejected, the Village shall
contact the Business to resolve the issue and ensure the efficient
administration of the Project and the Phases of the same.
ARTICLE V I. INSURANCE
6.1. Builder's Risk Prior to -Completion. Prior to completion of the construction of the
Project as evidenced by the issuance of the final certificate of occupancy for the Property, the
Business shall keep in force at all times completed builder's risk insurance against risks of
physical loss, including collapse, covering the total value of work performed and equipment,
supplies, and materials furnished for the Project (including onsite stored materials). Such
insurance policies shall be issued in an amount equal to one hundred percent (100%) of the
insurable value of the Project at the date of completion and with coverage available in a non -
reporting form on the so-called "all-risk" form of policy. All such policies shall contain a provision
that they will not be canceled or modified without 30 days' prior written notice to the Village.
7.2. Insurance During Term of Agreement. Prior to commencement of the Project,
the Business (or the Business' contractor) shall procure and deliver to the Village, at the
Business (or such contractors) cost and expense, and shall maintain in full force and effect until
2027753_1
each and every obligation of the Business contained in this Agreement has been fully paid or
performed, a policy or policies of general comprehensive liability insurance and, during any
period of construction, contractor's liability insurance and workers' compensation insurance, with
liability coverage under the comprehensive insurance to be not less than $5,000,000 for each
occurrence and $10,000,000 total and including automobile insurance coverage, all such
policies to be in such form and issued by such companies as shall be reasonably acceptable to
the Village to protect the Village and the Business against any liability incidental to the use of or
resulting from any claim for injury or damage occurring in or about the Redevelopment Project
or the improvements or the construction and improvement thereof. Each such policy shall name
the Village and its officers, employees, agents, attorneys, and representatives as additional
insureds and shall contain an affirmative statement by the issuer that it will give written notice to
the Business and the Village at least 30 days prior to any cancellation or amendment of its policy.
Any other insurance or self-insurance maintained by the Village shall be in excess to and not
contribute to the protection the Village receives as an additional insured on the insurance
required by this Agreement.
7.3. Compliance with Village Codes Rules Ordinances and Re ulations. Specific
requirements imposed on the Business with regard to indemnification and insurance coverage
shall not be considered exclusive of any other Village code, rule, ordinance, or regulation of
general applicability. The inclusion of such specific requirements in this Agreement shall not be
construed as a waiver of the Village's independent right and authority to apply and enforce its
various codes, rules, regulations, and ordinances of general applicability for insurance, surety,
and bonding against the County and its successors in title.
ARTICLE VIII. GENERAL PROVISIONS
8.1. Time of Essence. Time is of the essence of this Agreement. The Parties will
make every reasonable effort to expedite the subject matters hereof and acknowledge that the
successful performance of this Agreement requires their continued cooperation.
8.2. Breach.
(a) Villa e Remedies. In the event the Business fails or refuses to:
(i) timely start construction of the Project on the Properties within the
relevant time frames provided for herein, or
(ii) timely complete the Project, within the relevant time frames provided
herein, subject to Force Majeure and weather conditions and the
mutual agreement of the Parties, or
(iii) maintain the Project following construction in conformance with
Village approvals, including the special use permit and Site Plan, and
Village standards, then
2027753_1
the Village may, after thirty (30) days written notice to the Business, declare the Business in
default of this Agreement for which there was a default related to items (i) through (iii) above,
and seek solely the following remedies and solely with respect the default: (a) terminate this
Agreement, and seek Liquidated Damages, solely as it relates to the default; (b) compensatory
damages; (c) specific performance; (d) self-help; and (e) injunctive relief.
(b) Business Remedies. If the Village fails to perform its obligations hereunder,
the Business may, after thirty (30) days' notice to the Village, declare the Village in default
and seek solely the following remedies: (a) injunctive relief; (b) specific performance; and
(c) mandamus.
(c) Cumulative Remedies. Unless expressly provided otherwise herein, the
rights and remedies of the parties provided for herein shall be cumulative and concurrent
and shall include all other rights and remedies available at law or in equity, may be
pursued singly, successively or together, at the sole discretion of either party and may be
exercised as often as occasion therefore shall arise.
8.3 Amendment. This Agreement, and any exhibits attached hereto, may be
amended only by the mutual consent of the Parties evidenced by a written amendment, by the
adoption of an ordinance or resolution of the Village approving said written amendment, as
provided by law, and by the execution of said written amendment by the Parties or their
successors in interest.
8.4 ,assignment. Except as expressly provided in this Agreement, the Business'
rights and duties under this Agreement shall not be assignable or transferable at any time without
the prior written approval of the Village, with such approval not to be unreasonably withheld,
delayed, or denied. The Village shall provide such consent unless in the Village's reasonable
judgment, a proposed assignee does not have qualifications and financial responsibility
necessary and adequate to fulfill the obligations of the Business under this Agreement. Any
assignment of legal or equitable right without such consent shall make this Agreement null and
void. Notwithstanding the foregoing, the Business shall have the right to assign or transfer this
Agreement, in whole or in part, without the Village's approval, in the following instances: (i) after
the applicable Commencement Date, the sale or lease of all or a portion of the Project to end
users of the Project with respect to such portion of the Project; or (ii) to a Secured Lender as
collateral and such Secured Lender shall have the right to perform any term, covenant, condition
or agreement and to remedy any default, in accordance with the terms of this Agreement, by the
Business under this Agreement. No Secured Lender shall be personally obligated to perform
the obligations of the Business unless and until such Secured Lender (i) takes possession of the
Property, as the case may be, and (ii) seeks entitlement to the rights and benefits under this
Agreement. "Secured Lender" means a bank, financial institution or other person or entity from
which the Business has borrowed funds to finance all or a portion of the Project and in whose
favor the Business has agreed to provide a security interest as collateral for such loan.
8.5 Severabiliity. If any provisions, covenants, agreement or portion of this
Agreement, or its application to any persons, entity or property„ is held invalid, such invalidity
shall not affect the application or validity of any other provisions, covenants or portions of this
2027753_1
Agreement and, to that end, all provisions, covenants, agreements or portions of this Agreement
are declared to be severable.
8.6 Completion. Upon satisfactory completion of the Project, the Village shall issue
to the Business a "Certificate of Completion". The Certificate of Completion shall serve as
evidence on the issue of whether Business has fulfilled its duties and obligations under this
Agreement. The issuance of such Certificate shall not be unreasonably withheld by the Village.
8.7 Illinois Law, This Agreement shall be construed in accordance with the laws of
the State of Illinois. The sole and exclusive venue for any and all disputes arising out of or
relating to this Agreement shall be the Circuit Court of Cook County, Illinois.
8.8 Notice. Any and all notices, demands, consents and approvals required under
this Agreement shall be sent and deemed received: (1) on the third business day after mailed
by certified or registered mail, postage prepaid, return receipt requested, or (2) on the next
business day after deposit with a nationally -recognized overnight delivery service (such as
Federal Express or Airborne) for guaranteed next business day delivery, or (3) by facsimile
transmission on the day of transmission with the original notice together with the confirmation of
transmission mailed by certified or registered mail, postage prepared, return receipt requested,
if addressed to the Parties as follows.
If to Business: 500 Central Road LLC
ATTN: OJ Isak, Member
500 W. Central Road, Mount Prospect, Illinois 60056
Chicago, Illinois 60625
With copies to:
If to the Village: Village of Mount Prospect
Attention: Village Manager
50 South Emerson Street
Mount Prospect, Illinois 60056
With copies to: Lance C. Malina, Village Attorney
Klein, Thorpe & Jenkins, LTD.
120 S. LaSalle Street, Suite 1710
Chicago, Illinois 60603
8.9 Joint Venture Clause. Nothing contained in this Agreement or subsequent
agreements between the Village and the Business is intended by the Parties to create a
partnership or joint venture between the Parties, and any implication to the contrary is hereby
expressly disavowed. It is understood and agreed that this Agreement does not provide for the
joint exercise by the Parties of any activity, function, or service, nor does it create a joint
enterprise, nor does it constitute either Party as an agent of the other for any purpose
whatsoever. Neither Party shall in any way assume any of the liability of the other for acts of the
2027753_.1
other or obligations of the other. The Village shall in no way assume any liability of the Business,
if any, for the removal of Hazardous Substances, including petroleum products, from, on or under
the Property, if any. Each Party shall be responsible for any and all suits, demands, costs, or
actions proximately resulting from its own individual acts or omissions.
8.10 Attorneys' Fees. In the event either Party elects to file any action in order to
enforce the terms of this, Agreement, or for a declaration of rights hereunder, the prevailing Party,
as determined by the court in such action, shall be entitled to recover, all of its court costs and
reasonable attorneys' fees as a result thereof from the losing Party.
8.11 Completeness and --Modifications. This Agreement and Exhibits referenced
herein constitute the entire agreement between the Parties with respect to the transaction
contemplated herein, and shall supersede all prior discussions, understandings or agreements
between the Parties. This Agreement may not be amended, modified or otherwise changed in
any manner except by a writing executed by the Parties hereto.
8.12 Recording. The Village shall have the right to record this Agreement or any
memorandum or short form of this Agreement against the Property.
8.13 Counterparts. This Agreement may be executed in counterparts, all of which
counterparts taken together shall be deemed to be but one original.
8.14 Severability. If any of the provisions of this Agreement, or the application thereof
to any person or circumstance, shall be invalid or unenforceable to any extent, the remainder of
the provisions of this Agreement shall not be affected thereby, and every other provision of this
Agreement shall be valid and enforceable to the fullest extent permitted by law.
8.15 No Waiver. No waiver of any provisions or condition of this Agreement by any
Party shall be valid unless in writing signed by such Party. No such waiver shall be taken as a
waiver of any other or similar provision or of any future event, act, or default.
8.16 Term of Agreement. The term of this Agreement (the "Term") shall commence
on (the "Effective Date") and shall continue until completion of the Project
and approval of the Project by the Village.
8.17 Estoppel Certificates. Each of the Parties hereto agrees to provide the other,
upon not less than five (5) 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.
20277531
8.18orwce Majeure. ure. Neither the Village nor the Business nor any successor in interest
to either of them shall be considered in breach of or in default of its obligations under this
Agreement in the event of any delay caused by failure or unreasonable delay, after the Business
or Village, as the case may be, has utilized its best efforts to prevent such failure or unreasonable
delay, in the receipt of any governmental permits, damage or destruction by fire or other casualty,
strike, housing recession, litigation concerning the Project, shortage of material, unusually
adverse weather conditions such as, by way of illustration and not limitation, severe rain storms
or below -freezing temperatures of abnormal degree or for an abnormal duration, tornadoes or
cyclones, pandemics, and other events or conditions beyond the reasonable control of the party
affected which in fact interferes with the ability of such party to discharge its obligations
hereunder ("Force Majeure"). The time for a party's performance of any obligation under this
Agreement shall be extended on a day -for -day basis during the period of the event of Force
Majeure. In the event a party asserts an event of Force Majeure in relation to any obligations
under this Agreement, the parties will meet and negotiate in good faith the resolution of the
circumstances surrounding such asserted event of Force Majeure.
IN WITNESS WHEREOF, the Parties have duly executed this Agreement pursuant to all
requisite authorizations as of the date first above written.
VILLAGE OF MOUNT PROSPECT,
an Illinois home rule municipal corporation
Michael Cassady, Mage Manager
ATTEST:
A4-
I �Aoranos, illage Clerk
500 CENTRAL ROAD, LLC,
an Illinois limited liability company
f _m.;ZI/
/
By-
2027753_1
EXHIBITS
Exhibit A Legal Description (the Subject Property)
Exhibit B Plans and Specifications for the 500 W Central Road,
Mount Prospect, Illinois Project
EXHIBIT C Village of Mount Prospect Ordinance No. 6656
2027753_1
EXHIBIT A
LEGAL DESCRIPTION
500 W CENTRAL RD, MOUNT PROSPECT, IL
LOT'A" IN OWNER'S RESUBDIVISION OF LOT 3 (EXCEPT THE WEST 282.52 FEET
THEREOF) OF CHARLES'S BEHLENDORF'S DIVISION OF THE SOUTHWEST
QUARTER OF THE NORTHWEST QUARTER AND THE WEST 10.58 CHAINS OF THE
SOUTHWEST QUARTER OF SECTION 34, TOWNSHIP 42 NORTH, RANGE 11, EAST
OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT THE RIGHT OF WAY OF THE
CHICAGO AND NORTHWESTERN RAILROAD COMPANY) ACCORDING TO THE
PLAT THEREOF OF SAID OWNER'S RESUBDIVISION REGISTERED IN THE OFFICE
OF THE REGISTRAR OF TITLES OF COOK COUNTY, ILLINOIS ON DECEMBER 21,
1970 AS DOCUMENT NUMBER 2535801, IN COOK COUNTY, ILLINOIS.
PIN: 03-34-326-008-0000
16
EXHIBIT B
Plans and Specifications for the 500 Central Road, Mount Prospect, Illinois
Project
17
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EXHIBIT C
Village of Mount Prospect Ordinance No. 6656
18
ORDINANCE NO. 6656
AN ORDINANCE GRANTING A ZONING MAP AMENDMENT AND A VARIATION FOR PROPERTY
LOCATED AT 500 W. CENTRAL ROAD,
MOUNT PROSPECT, ILLINOIS
WHEREAS, Thomas Budzik ("Petitioner"), is seeking a, Zoning Map Amendment from 1-1 Limited Industrial to
B-5 Central Commercial and a variation for increased density to allow twenty (20) residential dwelling units for
property located at 500 W. Central Road, Mount Prospect, Illinois (the "Subject Property') Mount Prospect and!
legally described as:
LOT'A" IN OWNER'S RESUBDIVISION OF LOT 3 (EXCEPT THE WEST 282,52 FEET THEREOF) OF
CHARLES'S BEHLENDORF'S DIVISION OF THE SOUTHWEST QUARTER OF THE NORTHWEST
QUARTER AND THE WEST 10.58 CHAINS OF THE SOUTHWEST QUARTER OF SECTION 34,
TOWNSHIP 42 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT THE RIGHT
OF WAY OF THE CHICAGO AND NORTHWESTERN RAILROAD COMPANY) ACCORDING TO THE PLAT
THEREOF OF SAID OWNER'S RESUBDIVISION REGISTERED IN THE OFFICE OF THE REGISTRAR OF
TITLES OF COOK COUNTY, ILLINOIS ON DECEMBER 21, 1970 AS DOCUMENT NUMBER 2535801, IN
COOK COUNTY, ILLINOIS.
PIN(s): 03-34-326-008-0000
WHEREAS, the Petitioner seeks 1) Zoning Map Amendment to rezone the Subject Property from 1-1
Limited Industrial to B-5 Central Commercial 2) Variation for increased density to allow twenty (20)
residential dwelling units as shown on the Petitioner's Site Plan attached as Exhibit "A" and;
WHEREAS, a Public Hearing was held on the request for a, Zoning Map Amendment and Variation being the
subject ofPZ-09-22 before the Planning and Zoning Commission of the Village of Mount Prospect on the 811,
day of December, 2022, pursuant to proper legal notice having been published in the Daily Herald on the 23rd
of November; and
WHEREAS, the Planning and Zoning Commission has submitted its findings and recommendations to the
Mayor and Board of Trustees in support of the request being the subject of PZ -09-22; and
WHEREAS, the Mayor and Board of Trustees of the Village of Mount Prospect have given consideration to the
request herein and have determined that the request meets the standards of the Village and that the granting
of the 1) Zoning Map Amendment from 1-1 Limited Industrial to B-5 Central Commercial and 2) Variation for
increased density to allow twenty (20) residential dwellings would be in the best interest of the Village.
NOW, THEREFORE, BE IT ORDAINED BY THE MAYOR AND BOARD, OF TRUSTEES OF THE VILLAGE
OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS ACTING IN THE EXERCISE OF THEIR HOME RULE
POWERS:
SECTION ONE: The recitals set forth hereinabove are incorporated as findings of fact by the Mayor and Board
of Trustees of the Village of Mount Prospect.
SECTION The Mayor and Board of Trustees of the Village of Mount Prospect do hereby grant 1)
Zoning Map Amendment from 1-1 Limited Industrial to B-5 Central Commercial for the Subject Property and 2)
Variation for increased density subject to the following conditions:
1, Development of the site in general conformance with the plans prepared by Thomas Architects, dated
9114/2022;
2. The Petitioner shall address all comments included in the Village review letter dated October 228,
2022;
3. Submittal of landscape, tree inventory, irrigation, and photometric plans that comply with the Village
codes and regulations;
4. All ground and rooftop mounted mechanical equipment shall be screened according to Village Code:
5. Petitioner shall provide a complete building code analysis during the permitted process, which shall
comply with the requirements set forth in the adopted building codes and amendments as adopted by
the Village;
6. Prior to issuance of any certificate of occupancy, easements shall be confirmed/granted over the
public utilities (water and storm) that cross the east side of the site, in a form acceptable to the
Village;
7. The Petitioner shall make good faith efforts to modify the site plan to include two entrances into the
parking area from the existing curb cut in front of the subject property;
S. Compliance with all applicable Village Code requirements, including but not limited to zoning, fire
code, sign code regulations, and building regulations."
SECTION THREE: The Village Clerk is hereby authorized and directed to record a certified copy of this
Ordinance and Exhibit "A" Site Plan with the Recorder of Deeds of Cook County on title to the Subject
Property.
SECTION FOUR: This Ordinance shall be in full force and effect from and after its passage, approval and
publication in in the manner provided by law.
AYES: Gens, Matuszak, Rogers, Saccotelli, Zadel
NAYS: Filippone
ABSENT: None
PASSED and APPROVED this 20th day of December, 2
Paul Wm, Hofert, M or
ATTEST:
Daren M.Agog
Village Clerk
H_\CLKOIWINIORDI NANCE2TZ-09-22