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HomeMy WebLinkAboutRes 15-89 05/02/1989 f'1 RESOLUTION NO. lS-;-B9: A RESOLUTION ACKNOWLEDGING A SETTLEMENT IN CASE NO. 78 CH 78~9 WHEREAS, certain litigation between the Village of Mount Prospect and Oak Park Trust and Savings, as Trustee under Trust Numbers 6374, 6576 and 8~58 and pioneer Trust and Savings Bank, as Trustee under Trust Numbers ~~~55, ~~~35 and ~6470, known as Case No. CH 78 78~9, is pending in the Circuit Court of Cook county; and WHEREAS, the parties in Case No. 78 CH 78~9 have reached a compromise and settlement agreement, which agreement, in substantially the same form as attached hereto and hereby made a part hereof as Exhibit "A". NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY, ILLINOIS: SECTION ONE: That the Mayor and Board of Trustees of the Village of Mount Prospect do hereby authorize the Mayor to sign and the Village Clerk to attest her signature to the compromise and settlement agreement in Case Number 78 CH 78~9, which agreement shall be in substantially the same form as attached hereto as Exhibit "A". SECTION TWO: That the Mayor and Board of Trustees authorize its attorney to enter into an Agreed Order in said Case No. 78 CH 78~9, which Order shall be in substantially the same form as attached hereto as Exhibit "B". SECTION THREE: That this Resolution shall be in full force and effect from and after its passage and approval in the manner provided by law. AYES: Arthur, Farley, Floros.r. .Murauskis,. W.attenher~ NAYS: None ABSENT: None PASSED and APPROVED this 2nd day of .May , 1989. C«ft- ¡¡ ~~ Carol H. Krause Mayor ATTEST: ~~/~ Carol A. Fields Village Clerk . E;{!:[;t}T;¿Q E;-ß-PARTS COMPROMISE AND SE'ITLEMENT OF PENDING ACTION7S CH 7S19 FIRST UNITED TRUST COMPANY. as successor trustee to By/Oak Park Trust and Savings Bank, et al. Against The Village of Mount Prospect, et al. £IRS'I: ,UNiTED, TRUST. ÇOMPANY. as successcr trustee to WHEREAS/Oak Park Trust and Savings Bank, as trustee under Trust #6374 Trust #6576, and Trust #8158; and Pioneer Trust & Savings Bank (now Pioneer Bank and Trust Company), as Trustee under Trust #13906, Trust #11155, and Trust #16470, hereinafter called "Claimants," in 1978, instituted an action in the Circuit Court, County of Cook, State of Illinois, under Case Number 78 CH 7819 (the "Lawsuit") against the Village of Mount Prospect? hereinafter called "Village," a municipal corporation of the State of Illinois, and Gerala L. Farley Gare1yR-U... Kraase, Mayor of the Village, hereinafter called "Mayor," for the purpose of seeking, among other things, injunctive relief and other legal remedies arising out of a dispute over the fee structure for water and sewer services provided by, and the billing practices of the Village; and WHEREAS, the Village, as part of the original Lawsuit filed by the Claimants, thereafter counterclaimed for, among other things, foreclosure on certain liens against named properties of the Claimants as well as payment of other water and sewer and later charges; and WHEREAS, Claimants, the Village and the Mayor desire at this time to adjust and fully and completely settle all claims and counterclaims and demands of Claimants against the Village and the Mayor as well as all claims and demands of Village against Claimants, NOW, THEREFORE, it is hereby agreed that the Claimants will pay $143,000.00 to the Village pursuant to this Agreement, in three installments as follows: $83,233.82 on May 3, 1989 $50,000.00 on August 1, 1989 $9,766.18 on March 1, 1990 1 "" () . . FURTHER, in consideration therefore, the Village and the Mayor will deliver to Claimants and the Claimants to the Village and Mayor General Releases whereby they will discharge and release the' claims set forth in the complaint and counterclaim in Case Number 78 CH 7819 (including any amended versions of the complaint and counterclaim), as well as any and all causes of action, claims, obligations, liabilities and demands of any kind that each party may have against the other arising from charges for water and sewer service by Village to Claimants for the period from 1969 through 1987'ä an"d t !II ' If mnnl The provISion stamped upon the lower margnr hereot IS pan 0 IS Ins UIlIGIL FURTHER, upon execution of this Agreement and the Releases, Claimants and the Village will cause to be filed with the Court an Agreed Order dismissing said actions with prejudice, both parties admitting by this settlement no liability claimed by the other; and FURTHER, the parties have carefully read the foregoing agreement, know the contents thereof, have obtained the advice of counsel, have authority to execute it, and sign the same as their own free acts, THIS DOCUMENT IS MADE BY THE PIONEER BANK & TRUST COMPANY AS TRUSTEE AND ACCEPTED UPON THE EXPRESS UNDERSTANDING THAT THE PIONEER BANI<: ,&TRUST COMPANY ENTERS INTO THE SAME NOT PERSONÅÌ.LY,BUTONVI AS TRUSTEE AND THAT NO PERSONAL LIABILITY IS ASSUMED BY NOR SHALL BE ASSERTED OR ENFORCED AGAINST THE PIONEER BANK & TRUST COMPANY BECAUSE OF OR ON ACCOUNT OF THE MAKING OR EXECUTING THIS DOCUMENT OR OF ANY- THING THEREIN CONTAINED, 'ALL SUCH LIABILITY, IF ANY BEING EXPRESSLY WAIVED, NOR SHALL THE PIONEER BANK & TRUST COMPANY BE HELD PERSONALLY LIABLE UPON OR IN CONSEQUENCE OF ANY OF THE COVENANTS OF THIS 00C1JMENT EITHER EXPRESSED OR IMPLIED. Approved: ~¡¿ Executed and delivered by the First United Trust Company tlot in its -individual capacity, but solely in the capacity hereto :iesoribed for the purpose of bitlding the ".roil' d8s'oribeè >Ioperty, Qtld subject to the express conditi<:m, anything hereb 0 the contrary notwithstanding, that no personal liobiliiy or re- ;ponsibility is QSßumed by the First United Trust Company OT my of the beneficiaries under the within stated Qccount, by 'irtue hereof, Qll such perscnQlliQbility, if Qny, being expressly '"Qived and released by all other parties hereto, and those !;!Qiming by, throug under the ~ ,_r',' ;/,,- ,/:j /;/ ~ ¿.::"-;.,w"-"/ //, ./ 2~~y' ~~ Village Clerk ;" , I 2 0 t~ ç::; :;? ê~ ê (~1í p~.i .. § ;;j < ~D.'; ¡::::~-.. ~r:::¡Ëi >-<0< ~z~ ~~ ~ n FURTHER, in consideration therefore, the Village and the Mayor will deliver to Claimants and the Claimants to the Village and Mayor General Releases whereby they will discharge and release the claims set forth in the complaint and counterclaim in Case Number 78 CH 7819 (including any amended versions of the complaint and counterclaim), as well as any and all causes of action, claims, obligations, liabilities and demands of any kind that each party may have against the other arising from charges for water and sewer service by Village to Claimants for the period from 1969 through 1987'ä an"d t!ll 'ns> mnn The proVISion stamped upon the lower margllr hereot IS pan 0 IS I ÜUIIIGIL FURTHER, upon execution of this Agreement and the Releases, Claimants and the Village will cause to be filed with the Court an Agreed Order dismissing said actions with contents thereof, have obtained the advice o~ counsel, have authority to execute it, and sign the same as their own free acts, (;) E-<¡:,.; ê ~'~ i:Ll ~'., '-' ::r; ~~~ ,1 ÇI, ~j "'¡ ¡;., .... ' U ,,; .~~ ~ t~ ;~: prejudice, both parties admitting by this settlement no liability claimed by the other; and FURTHER, the parties have carefully read the foregoing agreement, know the ~STANT VICE PRESIDENT f-Oak Park & Savings Bank, as Trustee under Trust #6374, Trust #6576 and Trust #8158 !l'FIRS'l: 11NITEP i'RusT COMPANY, as successo% trustee to f~:~;:~~~~~.:tLC;: io 'e Trust & Savings Bank, as stee under Trust #13906, Trust #11155, and Trust #16470 Approved: ~~ Executed and delivered by the First United Trust Company not in its individual capacity, but solely in the capacity heretc :!escribed for the purpose of binding the herein des~Iibe¿ >Ioperty, and subject to the express condition, anything herei:> 0 the contrary notwithstanding, that no personal liability or re' :ponsibility is assumed by the First United Trust Company or my of the beneficiaries under the within stated account, by 'irtue hereof, all such perscnalliability, if any, being expressly .¡aived and released by all other parties hereto, and those "laiming by, throng under the /'-~/~'£~~ ""J~i;f.'<:::~'¿;,~ ( .' '-/""" ¡ ~ . ,/ 2J~Y ~AV Village Clerk i 2 'r""c,'" " ,-- '"..',.,' ~ ¡¡:)i\"."'JTS t,;..o.:.;.,¡;.j ,~'"'" C_.~I Ii. i ESCROW AGREEMENT 1. The parties will deposit herewith !-Wo (2) original, signed Stipulations to Dismiss the Claims and Counterclaims pending in Case #78 CH 7819, filed in the Circuit Court of Cook County, 2, The Village of Mount Prospect will deposit herewith a General Release in favor of the Plaintiffs in the above-captioned lawsuit, ;EliIST. UNITED TRUST COMPANY. as succeescr trustee to 3, Oak Park Trust and Savings Bank, as trustee, under trust #6374, Trust #6576 and Trust #8158 and Pioneer Trust and Savings Bank, as Trustee, under Trust #13906, Trust #11135 and Trust #16470 (hereinafter the Trusts), will deposit herewith a General Gerald L, Farley Release in favor of the village of Mount Prospect and ðrrotyIrH:- Kracrse, as Mayor of the Village of Mount Prospect, and a check in the amount of $83,233,82 payable to the Village of Mount Prospect which shall be endorsed to the Escrowee and shall be deposited in an interest-bearing account as designated by the Village of Mount Prospect. 4, On August 1, 1989, the above-named Trusts will deposit a check for $50,000,00 payable to the Village of Mount Prospect. 5, When all documents, including the check for $50,000,00, have been deposited, the Escrow shall, upon request of the parties as set forth below, make the following distributions, (1) To the Village of Mount Prospect: A. B. One original Stipulation to Dismiss; General Release in favor of the Village of Mount Prospect; $83,233,82 plus interest earned to the date of withdrawal on C, said sum; D, Check for $50,000,00, roo provísioo stamped upon the lower margin hereof is a part 01 thIS IDStfument. (2) To the Trusts: One original Stipulation to Dismiss; General Release in favor of the Trusts, A. B, '----- -...._~ -.,~.. """""""'1IfV "~""""essor trustee 16 THIS DOCUMENT IS MADE BY THE PIONEER BANK & TRUST COMPANY AS TRUSTEE AND ACCEPTED UPON THE EXPRESS ~::;TANDING THAT THE PIONEER BANK & TRUST COMPANY INTO THE SAME NOT PERSONALLY BUT ONLY AS TRUSTEE AND THAT NO PERSONAL LIABILiTY IS ASSUMED [BY NOR SHALL BE ASSERTED OR ENFORCED AGAINST THE ~:°:U~R=G& TRUST COMPANY BECAUSE OF OR ON ACCOUNT TH OR EXECUTING THIS DOCUMENT OR OF ANY- ING THERE!N CONTAINED, ALL SUCH LIABILITY 1 BEING EXPRESSLY WAIVED, NOR SHALL TIlE prONEÊR ::& TRUST COMPANY BE HELD PERSONALLY LIABLE UPON OR IN CONSEQUENCE OF ANY OF TIlE COVENANTS OF TIlts DOcUMENT EITHER EXPRESStD OR IMPLIED, ~<.....:.e'-- ~ /' Atto ey for Claim~ Accepted: ,-", ",:" ,~ /.~ ¿ ~ Village Clerk 2 ¡,.¡~~ ~zo ):;:;~f:â Q~¡,.¡ ¡,.¡ú.,:z: B~... ~~~ ><f:: ¡:t; ~ s~~~ >-<A :~ f4 OJ Approved: t AMERICAN NATIONAL BANK AND TRUST COMPANY OF CmCAGO, By: Its Executed and delivered by the First United 'trust Company not in ilS -individual capacity, but sol"ly in the (:QP<1city hereto described for the purpose of binding the herein described property, Qnd ßubject to the e"prees co"dition, <lDything herein to the contrary notwithstanding, ""': no personQlli"bilily or.e- sponsibility is assumed by the First United Trust Company or any of the beneficiaries u"der the wj¡hin stated Qccount, by virtue hereof, Qn such person",l liability, Ü Qny, being expressly lOlQÎved Qnd released by all other parties hereto, and those Claî1nfng by, through 0% under them. - 2- The provision stamped upon the lower margin hereof is a part 01 thIS Instrument To the Trusts: (2) A One original Stipulation to Dismiss; General Release in favor of the Trusts, B. a / . :"-' .,-/ , '-;'" ;~NT VICE PRESIDENT /:>r~>/?/7.:?¡;q' /'.' ';:ê.: -*Oak Park T Savings Bank " Village of Mount Prospect as Trustee u der Trust #6374 Mayor Trust #6576, and Trust #8158 *F~T UNITED TRUST COMPANY, as successor trustee tð >\ / ' /J d DFJ'"'~L "J V7" """'~v / '41 'I.. UL. , !. , !"v-'-/:.~, " "::-<: UcI\i,T) T3.UST Qi'iëCZR / /, ,~ '" n r Trust & Savings Bank rustee under Trust #13906, Trust #11155 and Trust #16470 J~L Ýd? Village Clerk Approved: Approved: L ~i:$~ [,-<:J".,¡:1, .q "", ~ B~>Ll SQ~ :~ ~ Accepted: AMERICAN NATIONAL BANK AND TRUST COMPANY OF CHICAGO, By: Its Executed and delivered by the First United Trust Company not in its individual capacity, but solely in the capacity hereto described for the purpose of binding the herein described property, and subject to the ex¡aees condition, anything herein to the contrary notwithstanding, thelt no personal liability or re- sponsibility is assumed by the First UnHed Trust Company or any of the beneficiaries under the within stated account, by virtue hereof, all such personal liability, Ü any, being expressly waived and released by aU other parties hereto. and those ¡claiming by, through or UDder lhelXl. - 2 - ._-~._-,._.,_._, --.. _m_.- r l I ; ~ ,1 ~ ~ I ~ EX;2C "': ;:< !:"qol. "~TS ,¡,>~f~Mn GENERAL RELEASE E1IISI :uNIT£!) TRUS¡ COMPANY. as successor trustee to This General Release is given byþak Park Trust and Savings Bank, as Trustee under Trust #6374, Trust #6576, and Trust #8158; and Pioneer Trust & Savings Bank (now Pioneer Bank and Trust Company), as Trustee under Trust #13906, Trust #11155, and ,."...,.,."., -I,. Trust #16470, hereinafter called "Claimants", to the Village of Mount Prospect, hereinafter Gerald L, Farley called "Village", a municipal corporation of the State of Illinois, and £al'Olyn- H, -Kmuse, Mayor of the Village, hereinafter called "Mayor", along with the Mayor's successors in office. For and in consideration of the sum of One Dollar ($1.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Claimants jointly and severally release and forever discharge the Village and Mayor, as well as the Mayor's successors in office, from all actions, causes of action, claims, obligations, liabilities, and demands of any and all types arising on account of charges and payments for water and sewer service provided by the Village to Claimants for the period from 1969 through 1987, as well as from all claims that have been asserted or could have been asserted in Case Number 78 CH 7819, pending in the Circuit Court of Cook County, Illinois, fbe vrovisjoo _ell upon the lower maJgm nBIeo11s a part 01 IbIS IlIStnlloonL This Release is given on behalf of and shall be binding upon all agents, successors, assigns or beneficiaries of the undersigned, Dated this //5 day of ,/J ~~, --- . ~ANT *"Oak Park T Savings Bank, as Trustee u der Trust #6374, Trust #6576, and Trust #8158 ¡ ciIRST. UNITE!> TRUS¡ COMPANY. as successor Ir1 Executed and delivered by the First United Trust Comi>' no! in ils -individual capacity, but solely in the ca¡;aclty her. descnbed for the purpose of binding the ¡-";:o,,, .::"s",ii: property, and subject to the express condit;",,", ";J:l:,~'r,;¡ her< to the contrary notwithstanding, that no pers,,",;::; ,:,¡'o;lily 0% sponsibiJity is assumed by the First United 1'n.18t Company a~y of the beneficiaries under the within stated account, by v~e hereof, aJl such personal liability, if any. being expressly WCIlved and released by aJl other parlieø hereto and those claiming by, through or under the¡n, . ~ ,1989, .~ THIS DOCUMENT IS MADE BY THE PIONEER BANK & TRUST COMPANY AS TRUSTEE AND ACCEPTED UPON THE EXPRESS UNDERSTANDING THAT THE PIONEER BANK & TRUST COMPANY ENTERS INTO THE sAME NOT PERSONALLY, BUT ONLY AS TRUSTEE AND THAT NO PERSONAL LIABILITY IS ASSUMED BY NOR SHALL BE ASSERTED OR ENFORCED KGAINST THE PIONEER BANK & TRUST COMPANY BECAUSE OF OR ON AccoUNT OF THE MAKING OR EXECUTING THIS DOCUMENT OR OF ANY- THING THEREIN CONTAINED, ALL SUCH LIABILITY. IF ANY BEING EXPRESSLY WAIVED, NOR SHALL THE PIONEER BANK & TRUST COMPANY BE HELD PERSONALLY LIABLE UPON OR IN CONSEQUENCE OF ANY OF THE COVENANTS OF THIS DOCUMENT EITHER EXPRESSED OR IMPLIED, 0 r~ '>-1 ['Hn) u: r;j ~à ,~c f,~ i3 ~ ~:~ >îÎ ~ :: :... o:t: @~~ tJ:=:: ro f\ EX:;; :::J t;;,áfA~TS GENERAL RELEASE V1IS.'I: P'NITEP TRUST. COMPANY. as successor trustee to This General Release is given by,.bak Park Trust and Savings Bank, as Trustee under Trust #6374, Trust #6576, and Trust #8158; and Pioneer Trust & Savings Bank (now Pioneer Bank and Trust Company), as Trustee under Trust #13906, Trust #11155, and Trust #16470, hereinafter called "Claimants", to the Village of Mount Prospect, hereinafter Gerald L. Farley called "Village", a municipal corporation of the State of Illinois, and tal'Oiyn- H,-Krause, Mayor of the Village, hereinafter called "Mayor", along with the Mayor's successors in office, For and in consideration of the sum of One Dollar ($1.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Claimants jointly and severally release and forever discharge the Village and Mayor, as well as the Mayor's successors in office, from all actions, causes of action, claims, obligations, liabilities, and demands of any and all types arising on account of charges and payments for water and sewer service provided by the Village to Claimants for the period from 1969 through 1987, as well as from all claims that have been asserted or could have been asserted in Case Number 78 CH 7819, pending in the Circuit Court of Coo~ County, Illinois. The provWl stamped upon the lower malgm Derool IS a ¡¡art 01 thIS IlIStrurœnl This Release is given on behalf of and shall be binding upon all agents, successors, assigns or beneficiaries of the undersigned, Dated this ¡¡# day of ~ ,1989, 0 ~~~ '1 <,;r: ~ / , ~~'NT VICE PRESIDENT *Oak Park T 'Savings Bank, as Trustee u der Trust #6374, Trust #6576, and Trust #8158 1I<1'IRST UNITED TRUST. COMPANY, CIS successor trustee 16 (/¡rI~£~}I,~,~;,7~-.;_~ oØ'ee rust & Savings Bank, as stee under Trust #13906, Trust #11155, and Trust #16470 Executed and delivered by the First United Trust (;om,,<w, not in its mdividual capacity. but solely in the capa"ity h~%eK described for the purpose of binding the !-";::,;,, ';;"s",',oeG property, and subject to the express conditi,'r.. """Sr.q herein to the contrary notwithstanding, that no pers.:"",; ..,,";lily or re- sponsibility is a."umed by the First United T,u.t Company or ,,:"y of the beneficiaries under the within stated account, by ~e hereof, all such personal liability, if any. being expressly w~V~d and released by all other parties hereto, and these clcu:aung by, through 0% under them.