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HomeMy WebLinkAboutRes 34-92 12/15/1992CAF / 10/15/92 RESOLUTION NO. 34-92 A RESOLUTION AUTHORIZING EXECUTION OF A RESTRICTIVE COVENANT FOR PROPERTIES COMMONLY KNOWN AS THE D~'S SUBDIVISION WHEREAS, the Mayor and Board of Trustees of the Village of Mount Prospect have considered the request of Patrick and Judith Dunn relative to the Dunn's Subdivision to modify the requirements of the Developmenn Code (Chapter 16) for proper5y commonly known as the Dunn's Subdivision, legally described as follows: Lots 1 and 2 in Dunn's Subdivision, being a subdivision in the Southeast Quarmer of Section 35, township 42 North, Range 11, East of the Third Principal Meridian, in Cook County, Illinois; and WHEREAS, the Petitioners are requesting the following modifications from Chapter 16 (Development Code) of the Village Code of Mount Prospect for the Subject Property: 1. To waive the requirement no install storm sewers; 2. To waive the requirement no pave the s5reet as well as install curb and gutter; 3. To waive the requirement ~o install a four foot (4') wide public sidewalk; 4. To waive the requiremen~ to install parkway trees; 5. To waive the requirement to install street lighting (one street light); and 6. To permit a lot depth of 88 feet, rather than the required 120 feet. WHEREAS, the Mount Prospect Plan Cormnission did consider the requesns stated herein at their regular meeting held November 18, 1992; and WHEREAS, the Mount Prospect Plan Commission has forwarded their recommendation to the Village Board to grant the requests herein, provided a Restrictive Covenant is executed, which Restrictive Covenant shall be recorded against the subject properEy, znsuring installation of the improvements at such time as the Village deems approprzate; and WHEREAS, the Mayor and Board of Trustees have determined that the best interests of the village would be served by having the Petitioners enter into a Restrictive Covenant, a copy of which is attached hereno and hereby made a part hereof as Exhibit "A". NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOA_RD 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 unn's Subdivision 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 Dunn's Subdivision (15 Marcella Road). 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 Restrict Covenant 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: Busse, Clowes, Corcoran, Floros, Hoefert NAYS: None ABSENT: Wilks PASSED and APPROVED this 15th day of December , 1992. ~' era~ld~L. Farley' / Mayor ATTEST: Carol A. Fields ' ~ Village Clerk RESTRICTIVE COVENANT BY AND BE'ISfi~.~-NT THE VILLAGE OF MOUNT PROSPECT, ILLINOIS AND THE OWNER-DEVELOPER OF CERTAIN PROPERTY WITHIN SAID VILLAGE REGARDING COMPLETION OF REQUIRED PUBLIC IMPROVEMENTS PERTAINING TO THE DEVELOPMENT OF SAID PROPERTy 15 North Mm'cella 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 i,,,?rovements 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 developmem 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, Illinois provides that in lieu of a cash escrow, letter of credit or development bond. the owner-developer may 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. 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: Lots 1 and 2 in Dnnn's Subdivision, being a subdivision in the southeast quarter of Section 35, Township 42 north, range 11, east of the third principal meridian, in Cook County, nlinois. 2. A plan of development of the described properly 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: To purchase and install a 4' wide public sidewalk, parkway trees, storm sewer, street lighting, fully paved street and curb and gutter, all improved to Village Code and performed when requested by the Village of Mount Prospect. 3. For a period of twenty (20) years commencing from the date hereof, the Undersigned shall i~ndertake 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 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 owner shall be both benefited and bound by the conditions and restrictions herein expressed. 5. This Covenant shall be binding upon and shall inure to the benefit of the paixies hereto and their successors and assigns m tide 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 violafion~ In the event that the owner-developer of the subject property fail~ to complete the required improvements or pay a proportionate share of the required improvements by other contractors within 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 ~ -"~- day of A OWNER-DEVELOPER OWNER-DEVELOPER ~ - VII.I.~GE PRESID~F ATFEST: / Real Estate Index No. 03-35401-038 - 3 -