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Home My WebLink AboutRes 32-93 08/03/1993 /~ ./"\ ~. eM/ 7/29/93 RESOLUTION NO. 32-93 A RESOLUTION AUTHORIZING EXECUTION OF A RESTRICTIVE COVENANT FOR PROPERTY COMMONLY KNOWN AS THE ELMHURST PLACE SUBDIVISION WHEREAS, the Mayor and Board of Trustees of the Village of Mount Prospect have considered the request of Nauert Builders, Inc. (owner of the Subject Property) to subdivide property commonly known as Elmhurst Place Subdivision, legally described as follows: Lots 1, 2, 3, 4, 5, 6 and 7 in Elmhurst Place, being a Resubdivision of Lots 1,2,3 and 4 in Block 6, Wedgewood Terrace in the East 1/2 of the Southwest 1/4 of Section 27, Township 42 North, Range 11, East of the Third Principal Meridian, as per plat thereof recorded as Document No. 13732148, in the Office of the Recorder, Cook County, Illinois; and and WHEREAS, Chapter 16 (Development Code) of the Village Code of Mount Prospect requires installation of sidewalks and curb and gutter in conjunction with the subdivision and development of property; and WHEREAS, in certain instances the installation of public improvements, including but not limited to sidewalks and curb and gutter is not feasible at the time of development, however, in order to guarantee installation of the required public improvements at a future date, the Village will accept a Restrictive Covenant executed by the owner; and WHEREAS, the Petitioner has submitted a request to waive the requirement to install sidewalks and curb and gutter on Meadow Lane and Oxford Place in conjunction with the development of the Subject Property and has expressed a desire to execute a Restrictive Covenant guaranteeing installation of the public improvements at a later date; and WHEREAS, the Mount Prospect Plan Commission did consider the request to waive the installation of certain public improvements and the Plan Commission has submitted its recommendation to the Village Board to authorize a Restrictive Covenant. WHEREAS, the Mayor and Board of Trustees have determined that the best interests of the Village would be served by having the developer enter into a Restrictive Covenant, a copy of which is attached hereto and hereby made a part hereof as Exhibit "A", guaranteeing the installation of specified public improvements at such a time as the Village deems reasonable and proper. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: That the recitals set forth hereinabove are incorporated herein as findings of fact by the Mayor and Board of ~. r\ Elmhurst Place Restrictive Covenant Page 2 of 2 Trustees of the Village of Mount Prospect. SECTION TWO: That the Mayor and Board of Trustees do hereby authorize execution of a Restrictive Covenant, a copy of which Restrictive Covenant is attached hereto and hereby made a part hereof as Exhibit "A", for property commonly known as the Elmhurst Place Subdivision. SECTION THREE: That the Village Clerk is hereby directed to record with the Recorder of Deeds or Registrar of Titles, whichever is applicable, a fully executed copy of the Agreement being the subject of this Resolution. SECTION FOUR: That this Resolution shall be in full force and effect from and after its passage and approval in the manner provided by law. AYES: NAYS: Clowes, Corcoran, Hoefert, Skowron, Wilks None ABSENT: Hendricks PASSED and APPROVED this 3rd day of Auqust , 1993. ATTEST: 4~J~ Carol A. Fields Village Clerk Resolution 32-93 RESTIU=vE coMf. BE:~:::2~ VILLAGE OF MOUNT PROSPECf, ILLINOIS AND 840 THE OWNER-DEVELOPER OF CERTAIN PROPERlY WITHIN SAID - 8424~ VILLAGE REGARDING COM:rJ..F:'fI()N. OFJY:QUlRED PUBLIC IMPROVEMENTS PERTAINING TO THE DEVELOPMENT OF SAID PROPERlY 1 Oxford Place, 1010 N. Elmhurst Road and 1000 N. Elmhurst Road WHEREAS, pursuant to the provisions of Chapter 16 entitled "Development" of the Village Code of Mount Prospect, Illinois certain public improvements are required to be constructed and installed by owners and developers of property within the Village, as part of the approval for the development of such property; and WHEREAS, the schedule for accomplishing the construction and installation of such public improvements by the owner-developer of the property under development is often. in conflict with other public improvement projects adjacent to or within the vicinity of said property so as to render the accomplishment of such public improvements by the owner~ developer to be practically or economically unfeasible until the same can be combined with or scheduled so as to conform with such other public improvements affecting the subject property under development; and ~ WHEREAS, such other public improvement projects are administered by the Village, . County or State, officials over which the owner-developer has no control, and in some instances those improvements to be accomplished by the owner-developer with respect.to the property under development cannot be completed until the other improvements under Village, County or State control have been accomplished; and WHEREAS, under such circumstances, it is deemed to be inequitable to delay development of the property under development or to require the owner-developer to establish a cash escrow, letter of credit or improvement bond for the purpose of guaran- teeing the completion of required public improvements due to the delay caused by the intervening or subsequent accomplishment of other public improvement projects under administration and control of the Village, County or State; and "" WHEREAS, Chapter 16 of the Village Code of Mount Prospect, lllinois provides tha~ in lieu of a cash escrow, letter of credit or development bond, the owner-developer ~y~ execute a restrictive covenant to be recorded and to run with the land as a guarantee that ~ the required public improvements shall be completed with respect to the property under ~ development. N " . D£PT-Ol RECORDING t25.0( . T~6666 TRAM 2665 Ql/26/9~ 12=04=00 ;4753; *-94-084242 COOK ~OUNTY RECORDER 'fffJKb1 ~ø V', Yp . ~, i "j NOW, THEREFORE, in accordance with the provisions of the said Chapter 16 of the Village Code of Mount Prospect, Illinois, the Undersigned, Owner-Developer does hereby covenant with the Village of Mount Prospect, an Illinois municipal corporation, as follows: 1. The Undersigned is the Owner and Development of the following described property within the Village of Mount Prospect, Illinois, to wit: Elmhurst Place, being a resubdivision of Lots 1, 2, 3, and 4 in Block 6 in Wedgewood Terrace, a Subdivision of part of the East half of the Southwest quarter of Section 27, Township 42 North, Range 11, East of the Third Principal Meridian, in Cook County, Illinois. 2. A plan of development of the described property by the Undersigned has been approved by the Village of Mount Prospect, which approval includes the completion of the following public improvements contained in and provided as a part of the plans, to wit: The installation of curb, gutter and sidewalks on Meadow Lane and Oxford, according to Village Code when requested to do so by the Village of Mount Prospect. 3. For a period of twenty (20) years commencing from the date hereof, the Undersigned shall undertake the above-stated improvements with sixty (60) days after being so advised by the Village of Mount Prospect to commence such construction and instal- lation work, and shall continue said work without interruption or delay, until the t.O improvements are completed in a satisfactory manner and in accordance with Village plans ~ and specifications pertaining thereto. . ~ ~ ~ 4. This Covenant to complete the said public improvements as herein contained shall run with the said property; and for the period of time as set forth herein. Nothing in this Covenant shall in any way prevent the alienation or sale of the subject property or any portion thereof, except that said sale shall be subject to the provisions hereof and to the plan of development pertaining to the property, and the new own~r shall be both benefited5 and bound by the conditions and restrictions herein expressed. .Þö (þ ~ ~ t.. - 2 - .) .1 'i >: S. This Covenant shall be binding upon and shall inure to the benefit of the parties hereto and their successors and assigns in title and interest and the proviSions hereof shall be enforceable in a proceeding at law or in equity against the person or persons seeking to violate the same including an action for injunctive relief, specific performance or to recover damages or other fines and penalties as may be 'established in such violation. In the event that the owner-developer of the subject property fails to complete the required improvements or pay a proportionate share of the required improvements by other contractors wiO1in the specified time periods herein, the value of such improvements shall be entered as a lien against the property due and payable within sixty (60) days after notification to proceed with the improvements. IN WITNESS WHEREOF, the parties hereto have set their hands and seals this 3rd day of August , 19~, . PIN: 03-27-306-007, 03-27-306-010 ~. 77 ~cx:~ OWNER-DEVELOPER OWNER-DEVELOPER ATTEST: , ILLINOIS VlUAGE CLERK toO ~ rJJ ~, 't'" P. t... .. - 3 -