R-422-96 04/22/96VILLAGE OF LEMONT
RESOLUTION NO. 422
DATE 4/22/96
GRANT A RESOLUTION APPROVING VILLAGE PARTICIPATION OF LOW
INTEREST LOAN PROGRAM
WHEREAS, the Village of Lemont has adopted Ordinance 885, the Downtown Facade Improvement
Grant and Low Interest Loan Programs, to provide incentives for building reinvestment within the Village
of Lemont's Tax Increment Financing District; and
WHEREAS, in accordance with the Low Interest Loan Program, the Village Board of Trustees shall
consider participation in building reinvestment; and
WHEREAS, Dennis & Jean DeLaura, as the property owners for the property known as 209
Stephen Street , has completed the Low Interest Loan Application for Village participation of said property;
and
WHEREAS, Village Staff has reviewed the 209 Stephen Street application for compliance with the Low
Interest Loan Program guidelines and has recommended approval of the request.
NOW, THEREFORE, BE IT RESOLVED, that the Village President is authorized to execute
Lthe Low Interest Loan attached for 209 Stephen Street in accordance with the terms of the Loan Interest
Loan Program guidelines.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT, COUNTIES OF COOK, DuPAGE AND WILL,
ILLINOIS, on this 22ndday of April , 1996.
Barbara Buschman
Alice Chin
Keith Latz
Connie Markiewicz
Rick Rimbo
Ralph Schobert
AYES NAYS PASSED ABSENT
x
Approved by me this 22nday of A
RLENE SMOLLEN, Village Clerk
x
CHARLENE SMOLLEN, Village Clerk
ri Ah p1996.
rm,
,Aolammitk
'� RD A. A NESKI, Village President
VILLAGE OF LEMONT
LOW INTEREST LOAN PROGRAM
AGREEMENT
THIS AGREEMENT, entered into this day of , 19 , between the
Village of Lemont, Illinois (hereinafter referred to as the "Village ") and the following
designated OWNER/LESSEE and LENDING INSTITUTION, to wit:
Owner's/Lessee's Name: DENIMS & JEAN DE LAURA
Name of Business: DeLaura, Inc.
Address: 423 Jane Court
City: Lemont State: IL Zip Code: 60439
Lending Institution:_Southwest Financial Bank
Address: 12400 Archer Avenue
City: Lemont State: IL Zip Code: _60439
WITNES SETH
Whereas, the VILLAGE has established a Low Interest Loan Program for application
within certain designated commercial rehabilitation areas of the VILLAGE known as the
Tax Increment Financing District; and
r
Whereas, said Low Interest Loan Program is administered by the VILLAGE and is funded
from District Revenues for purposes of control and prevention of blight, dilapidation and
deterioration of designated areas within the District, and
Whereas, pursuant to said Program the VILLAGE has agreed to participate, subject to its
sole discretion, in sharing the cost of loan interest for private property improvements to
commercial establishments within the District. The Village shall buy down the interest up to
a maximum of four (4) points, not to exceed Ten Thousand Dollars ($10,000) for a five (5)
year maturity loan. In lieu of points, interest percentage points shall be bought up to a
maximum of one (1) interest percentage point, not to exceed Ten Thousand Dollars
($10,000) for a five (5) year maturity loan. The following combination of points and
interest percentage points can be used: three (3) points and one - quarter (.25 %) of an
interest percentage point; two (2) points and one -half (.50 %) of an interest percentage
point; and one (1) point and three- fourths (.75 %) of an interest percentage point, not to
exceed Ten Thousand Dollars ($10,000); and
Whereas, the OWNER's/LESSEE's property is located within the Tax Increment
Financing District/Downtown, a designated rehabilitation area, and the OWNER/LESSEE
desires to participate in the Low Interest Loan Program pursuant to the terms and
provisions of this agreement.
2
NOW, THEREFORE, in consideration of the mutual covenants and agreement obtained
herein, the VILLAGE and OWNER/LESSEE and LENDING INSTITUTION do hereby
agree as follows:
SECTION 1: COST SHARING - The VILLAGE shall share in the loan interest cost for
the OWNER's/LESSEE's property improvement up to four (4) points or one (1) interest
percentage point, not to exceed Ten Thousand Dollars for a five (5) year maturity loan.
The actual amount per this agreement shall not exceed $ 10,000.00 for purchase of
four (4) interest percentage points. The private property improvement costs which are
eligible for VILLAGE participation include all labor, materials, equipment and other
contract items necessary for the proper execution and completion of the work as designated
from the design drawings approved by the VILLAGE. Said design drawings and
specifications are attached hereto as Exhibit IV.
The applicant shall be responsible for securing a Building Permit subject to application and
plan review and any application fees.
SECTION 2: LENDING INSTITUTION PAYMENT - The Village shall, within thirty
(30) days of receipt of the approved loan, issue a check to the LENDING INSTITUTION
in payment of four (4) points and /or one (1) interest percentage point, not to exceed Ten
Thousand ($10,000) for the purchase of loan points or interest percentage points for a five
3
(5) year maturity loan. In no case shall the amount paid to the LENDING INSTITUTION
exceed the amount specified in this Agreement.
SECTION 3: DESIGN APPROVAL - No private property improvement work shall be
undertaken until the design therefore has been submitted to and approved by the Village
Board. Following approval, the OWNERJLESSEE shall contract for the work and shall
commence and complete all such work within one hundred eighty (180) days from the date
of such approval.
SECTION 4: REVIEW OF PROJECT - The Economic Development Coordinator shall
periodically review the progress of the contractor's work on the property improvement
pursuant to this Agreement. Such inspections shall not replace any required permit
inspection by Village Inspectors. All work which is not in conformance with the approved
drawings and specifications shall be immediately remedied by the OWNER/LESSEE and
deficient or improper work shall be replaced and made to comply with the approved
drawings, specifications, and terms of this Agreement.
SECTION 5: DOCUMENTATION REQUIREMENTS - Upon completion of the
property improvement and upon its final inspection and approval by the Building
Department, the OWNER/LESSEE shall submit to the VILLAGE a properly executed and
notarized contractor statement showing the full cost of the work as well as each separate
4
component amount due to the contractor and each and every subcontractor involved in
furnishing labor, materials, or equipment in the work. In addition, the OWNER/LESSEE
shall submit to the VILLAGE proof of payment to the contractor. At the time of project
completion and throughout the term of this agreement, all land use and signage under the
control of the OWNER/LESSEE shall be in conformance with zoning and sign code
provisions.
SECTION 6: FAILURE TO COMPLETE WORK - If the OWNER/LESSEE or his
contractor fail to complete the property improvement work provided for herein in
conformity with the plans, specifications and all terms of this Agreement, the agreement
shall terminate and the OWNER/LESSEE shall reimburse the VILLAGE the actual amount
paid to the LENDING INSTITUTION.
SECTION 7: MAINTENANCE OF IMPROVEMENT - Upon completion of the property
improvement work pursuant to this Agreement and for a period of three (3) years
thereafter, the OWNER/LESSEE shall be responsible for properly maintaining such
property improvement in its finished form and without change or alteration thereto, as
provided in this Agreement, and for the said period of three (3) years following completion
of the construction thereof, the OWNER/LESSEE shall not enter into any Agreement or
contract or take any other steps to alter, change or remove such property improvement, or
the approved design thereof, nor shall OWNER/LESSEE undertake any other changes, by
5
contract or otherwise, to the improvement provided for in this Agreement unless such
changes are first submitted to the Economic Development Coordinator, and any additional
review body or commission designated for approval; which approval shall not be
unreasonably withheld if the proposed changes do not substantially alter the original design
concept of the property as specified in the drawings and plans approved pursuant to this
Agreement.
SECTION 8: FILING OF LIEN - Prior to issuance of a check to the lending institution, a
Lien shall be filed to guarantee compliance with Section 7. The Village's lien is after the
lending institution lien.
SECTION 9: UNRELATED IMPROVEMENTS - Nothing herein is intended to limit,
restrict or prohibit the OWNER/LESSEE from undertaking any other work in or about the
subject premises which is unrelated to the property improvement provided for in this
Agreement.
SECTION 10: AGREEMENT APPLICABLE TO FUTURE OWNERS - This Agreement
shall be binding upon the VILLAGE OF LEMONT and upon the OWNER/LESSEE and its
successors, to said property for a period of three (3) years from and after the date of
completion and approval of the property improvement provided for herein, unless
6
foreclosure. It shall be the responsibility of the OWNER/LESSEE to inform subsequent
OWNER(s)/LESSEE(s) of Section 6 of this Agreement.
SECTION 11: MAXIMUM GRANT AWARDS - Nothing in this Agreement shall prohibit
a business or property owner from applying for more than one Grant. However, a $10,000
total limitation shall apply to all Sign Grants, Facade Grants or Interest Rate Program
Awards made to a single property within any three (3) year period. For the purpose of
calculating the three year period, the date of the last Village payment shall be considered the
start of the three year period.
SECTION 12: CONSTRUCTION INDEMNIFICATION - The owners of the subject
property agree to defend and hold harmless the Village from any and all claims which may
arise out of said owners' construction activities under this Agreement.
SECTION 13: GENERAL INDEMNIFICATION - In the event that, as a result of this
Agreement, or actions taken as required hereunder, the Village is made a party defendant in
any litigation arising by reason of this Agreement, or development activities contemplated
hereunder, the owners agree to defend and hold harmless the Village, the mayor, trustees,
officers, and agents thereof, individually and collectively, from any suits and from any
claims, demands, setoff or other action including but not limited to judgments arising
therefrom. The obligation of the owners hereunder shall include and extend to payment of
7
reasonable attorneys' fees for the representation of the Village and its said officers and
agents in such litigation and includes expenses, court costs and fees; it being understood
that the owners where there shall be no applicable standards provided therein, shall have the
right to employ all such attorneys to represent the Village and its officers and agents in such
litigation, subject to the approval of the corporate authorities of the Village, which approval
shall not be unreasonably withheld. The owners shall have the right to appeal to courts of
appellate jurisdiction any judgment taken against the Village or its officers or agents in this
respect, and the Village shall join in any such appeal taken by the owners.
SECTION 14: PERFORMANCE OF AGREEMENT - It is agreed that the parties hereto
may in law or in equity, by suit, action, mandamus, or any other proceeding, including
specific performance, enforce or compel the performance of this Agreement, which shall
include the right of the parties to recover a judgment for monetary damages against each
other, provided, however, that the owners shall not have a right to recover a judgment for
monetary damages against any elected or appointed official of the Village for any breach of
any of the terms of this Agreement. The Village reserves the right to maintain an action to
recover damages or any sums which owners have agreed to pay pursuant to this Agreement
and which have become due and remained unpaid.
SECTION 15: EXHIBITS - It is agreed that Exhibits I through VII shall be considered
part of this agreement.
8
SECTION 16: DISPLAY FOR VILLAGE FUNDING PROMOTIONAL MATERIAL -
Program Participants shall be required to prominently display a poster identifying the
property as receiving Village funding. The sign will be provided by the Village and shall be
displayed from the date the application is approved, to no less than thirty (30) days after
final completion of the work.
9
IN WITNESS THEREOF, the parties hereto have executed this Agreement on the
date first appearing above.
OW, E
ogram Participant
DATE: / 1
,/"Adirif
Property O /er
DATE:
LENDING INSTITUTION
Lending Institution Representative
DATE:
10
AG OF LEMONT
age President
DATE: - °i
ATTEST
DATE:
Village Clerk
EXHIBITS
EXHIBIT I PROOF OF OWNERSHIP
EXHIBIT II EXECUTED LEASE
EXHIBIT III COPY OF APPLICATION
EXHIBIT IV RENOVATION PLANS
EXHIBIT V CONTRACTOR'S AGREEMENT
EXHIBIT VI ARCHITECT'S AGREEMENT
EXHIBIT VII SAMPLE LIEN
Applicant Name:
File Number:
VILLAGE OF LEMONT
LOW INTEREST LOAN
PROGRAM
APPLICATION
Project Address(es): _209 Stephen Street
Building Owner: DENNIS & JEAN DELAURA Year Purchased: 1996
Store /Company Name:
Name of Tenant: N/A
Lease Expiration Date:
Applicant Name: DENNIS & JEAN DELAURA
Applicant Business Address: _423 JANE COURT, LEMONT, IL
Applicant Business Phone: _621 -3645 Home Phone: 257 -2008
Applicant(s): Building Owner: 233-9393 Tenant:
Total Square footage:
Total Anticipated Budget:
Total Anticipated Loan Amount:
3,000
$_240,000
$ 185,000
Description of Proposed Improvements: *
_CONSTRUCTION OF 1500 SF OFFICE SPACE AND TWO APARTMENTS (TOTAL 1500
_SF)
* Attach elevations of proposed improvements (if available)
Applicant Name:
File Number:
BUDGET
(anticipated)
ACTIVITY
ESTIMATED COST
$240,000.00
CONSTRUCTION OF 1500 SF OF OFFICE SPACE AND
TWO APARTMENTS (TOTAL 1500 SF).
Architect for the Project:
Name:
Address: Address: 308 S. CANAL ST.
City, St, Zip: City, St, Zip: LEMONT, IL 60439_
Phone:
Total Anticipated Loan: $_185.000.00
Engineer for the Project:
Name:
EDDY & COMPANY
Phone: 708 - 257 -7770
Contractor for the Project: Proposed Lending Institution:
Name: DELAURA, INC. Name: SOUTHWEST FINANCIAL
Address: 8200 WEST 95TH STREET Address: 12400 S. ARCHER AVE.
City, St, Zip: HICKORY HILLS, IL 60439 City, St, Zip: LEMONT, IL 60439
Phone: (708) 233 -9393 Phone: (708) 243 -2000
Loans must be obtained from a lending institution located within the corporate limits of the
Village of Lemont.
Application will be reviewed by the Economic Development Coordinator, Building Department,
and Community Development Director.
Applicant Name:
File Number:
PICTURES OF PROPERTY (INTERIOR AND EXTERIOR):
Applicant Name:
File Number:
I, DENNIS & JEAN DELAURA , hereby make application to the Village of Lemont for
participation in the Low Interest Loan Program in the anticipated amount of
$_10,000.00 for the purchase of 4 interest points, not to exceed $10,000. I
understand that my application must be approved by the Village and that it must conform to
established design .guidelines, as well as, specific design recommendations of the Village of
Lemont. I have read a copy of the Low Interest Loan Program Agreement and lien provisions. If
the application is approved, I understand that all work performed is subject to applicable
development, building, permit, and agreement provisions.
Ap ► i ant Signatur ' Date
Building Owner
Please return the completed application to:
Economic Development Coordinator
Village of Lemont
418 Main Street
Lemont, IL 60439
Date
If you need assistance with the application and/or have general inquiries, please contact the
Economic Development Coordinator at (708) 257 -6440.
ILLINOIS 'WARRANTY DEED
Joint Tenancy Statutory (ILLINOIS)
(Individual to individua))
The Grantors, THOMAS VEGTER and
PATRtCIA A. VEGTER, husband and wife,
of Lemont, Illinois for and in
consideration of Ten ($10.00) Dollars, In
hand paid, CONVEY and WARRANT to
DENNIS R. DELAURA and JEAN M.
DELAURA, husband and wife, 423 Jane
Court, Lemont, Illinois 80439, not In
Tenancy in Common, but in JOINT
TENANCY, the following described Real
Estate situated to the County of Cook in
the State of Minolo to wit:
Lot 8 (except the •Northerly 20 feet thereof) and tot 9 (except the SOuthearty : 40 feet thereof) alto that part
of the Westerly 12.5 feet of Lot 10 lying Southerly of the Northerly fine (If G tended) of the Southerly 25.5
feet of Lot 8 and Northerly of the Northefiy.line (If e.Xtendad) of the Southerly 40 feet of Lot 9, all In Block
2 In Truesdells addition to Athens, a Subdivision of Section 20, Township 37' North, Range 11, East of the
Third Principal Meridian, in Cook County, Illinois.
hereby releases and waives all rights under and by virtue of the Homestead Exemption Laws of the State
of Illinois. TO HAVE AND TO HOLD said premises not In tenancy In comri n, but In joint tenancy forever.
SUBJECT TO: General real estate taxes for the year 1995 and Subsequent years; covenants, conditions and
restrictions of record: private, public and utility easements and roads and highways, If any.
Permanent Real Estate Index Number(s): 22- 20-420 -017
Addresses) of Reel Estate: 209 Stephen Street, Lemont, Illinois 6043.9
Dated this % day of
State of Illinois
County of Cook
}
(SEAL)
, 1995.
(SEAL)
I, the undersigned., a Notary Public In and for said . County In hie State aforesaid, 00 HEREBY
CERTIFY, that THOMAS VEGTER and PATRICIA A. •VEGTER, husband and wife; are personally known to me
to be the same persons whose names are subscribed to the foregoing Instrument, appeared before me this
day In person, and acknowledged that they signed, sealed and delivered the said Instrument as their free
and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right
of homestead.
Mall To:
Given under my hand and official seal this
00;oft, , 1995.
4110 : nit) MAI LIR rZfr
- ♦
►
:<:,•.
Dennis
423 Jane •
Lemont, Illinois 60439
.40•441 t .1,
Prep red Icy
Arttori o&, Viriet & :t3rOselak, P.C.
16429 i #t Soot, Butte 100
Lemont; Illinois 00439
'1
THIS INDENTURE
W1TNESSETH,
mat the Grantor
Jean aJl _ ,g rrL, married as jLiturits .
of the County of conk and State of , ;�liflois
for and in consideration of .Teti ,(!1;10,00) '
Dollars, and other good and valuable considerations
in hand paid. Convey .__.; and Warrant
unto STANDARD BANK AND TRUST COMPANY,
a corporation of Illinois, as'tr uStee under the provisions
of a trust agreement dated the 2nd day of
P bruary 19 93 , and known as
Trust Number 13701 the following described —
real estate in the County of Cook and State of Illinois, to wit;
Lot 8 (except the Northerly 20 feet thereof) and Lot 9 (exeept'the Sp.Utherly 40 feet.thereof) also
that part of the Westerly 12.5 feet of Lbt 10 dying Southerly of the Northerly line :(if extended) of
the Southerly 25.'5 feet of Lot 8 and Northerly of the Northerly line, (it extended) of the Southerly
40 feet of Lot 9, all in Block 2 in Truesdells Addition to Athens, a Subdivision of section 20,
Township 37 North, Range 11, East of the Third Principal Meridiat ok Pa vly�rollinoFis.
PARAGRAPH E. SECTION 4,
PIN: 22- 20- 420-017 REAL 8STA E TRANSFER MX ACT,
Common Address: '209 Stephen Street
Lemont, IL 60439
DAT-±.t• •
•$0.Nj?'S3Re •QF.'9t1YU. /°saI,,LER
OK*4 R .0.4,0 ►g&:GN "411V6
TO HAVE AND TO 1101.4D the said premises with the appurtenances upon the Was is and for the rises and purposes '
herein set forth:
Full power and authority is hereby granted to said u'ustoe to improve, Manage, protect and stet d(vide s.alid premises or
any part thereof, to dedicate parks, streets, highways'or alleys and to vacate any subdiVislon or part thetitOf and to resubdivide
said property as often as desired, to contract to sell, to sell on any terms, to convoy either with or without consideration, to
donate, to dedicate, to mortgage, pledge or otherwise encumber; to lease said property.•or any part thereof, from time to time,
by leases to commence in present or in future, and upon any terms and for any .period Or Periods of time not exceeding 198 years;
and to renew or extend leases. upon any terms and for any period or periods of time and to amend, change or modify leases and tile
terms and provisions thereof at any time or times hereafter; to partition or to exchange saki property, or any part thereof, for other
real or personal property, to grant easements or charges of any kind, to release, convey or assign any right, title or interest in or abeet
said premises and to deal with said property and every part thereof in all other ways and for such other considerations as it would be
lawful for any person owning the same to deal with the same, whether similar to or different from the ways above specified, at any
time or tithes hereafter.
In no case shall any party, to Whom said premises, or any part thereof, shall be conveyed, contracted to be.sold, leased or mortgaged
by said trustee, and in no case :shall any party dealing with said trustee in relation to said pft rises, be obliged to see to the applicatipn
of any purchase money, rent or money borrowed or advanced on said premises, or be obliged to see that the terms of this trust have
been complied with, or be obliged to inquire into the necessity or expendiency of any act of.said trustee, or be privileged or obliged
.
to inquire into any of the terms of said trust agreement.
PREPARED BY: Diane 1. Nolan
Standard Bank and TruSt Company
7800 West 95th Street
Hickory Hills, IL 60457
iAIIL TO' Standard -Basile; and Trust Compan
780O, west:.95th Street
Hickory. Ni 1ix; IL 80457
•
•: .
The interest of each and every beneficiary heretnitior and of all pert onaClaiming uader.them, ithomby deelired to be person4property
and to be in the earnings, avails and proceeds arising from the disposition of the preirthles; the intention 'hereof being to vest in said
STANDARD BANK AND TRUST COMPANY the entire legal and eqUitahle title irt ;fee, in and to all the premises above desFribed.
And the said grantor _ -s hereby expressly waive A and release any and all right or benefit under and by virtue of any
and all statutes of the State of Illinois providing for the exemption of homesteads from r.ale on execution or otherwise.
In witness Whereof, the grantor 1.1 , aforesaid ha ue hereunto set _their._ hand —s— and sea14—. this —.4tti-
day of____Ztkumb.f.r_, . , 19_95.
Denn DeL
Dennis R. a
.K r
L the undersigned a notary public in and for said CountY in the State aferesaid. DORM* Cettify, That
•
personally known to the to be the same person whose name subscribed to the foregoing instrument,
.
appeared before me this day in person and acknowlegde that thEty signed sealed and delivered the said instrument
as their free and voluntary act for the uses and purposes therein set forth including the release and waiver of the
right of homestead.
(liven under my hand and Notarial seal this :40 day of •De-rill)er AD. J9
!414.0"!4■Ait,a*vs...)
rep-nlAti. A b.4589tAtitn "
MY C4
NotiPub/ic, State ofIllinois
tnitsfoo gxplres Atl, 31, 1096
95
Istary
STREET ELEVATION
DeLAURA BUILDING / LEMONT
Q.3-19--9
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AGREEMENT CREATING LIEN ON REAL ESTATE
The undersigned, , owner(s) of
, Lemont, Illinois, having applied for
Facade Improvement Grant Program from the Village of Lemont through the Tax
Increment Financing does hereby grant a lien to the Village of Lemont, a Municipal
Corporation, in the amount of Dollars
($ ) on the property commonly known as ,
Lemont, Illinois 60439, and legally described as follows:
Permanent Index Number:
The undersigned acknowledges that the aforesaid lien shall exist from the date of
this instrument, and shall become due if any facade alterations occur less than three years
after grant work completion and if there is a business change less than three years after
grant work completion. If any of these two conditions occur, then the lien shall be payable
to the Village of Lemont. If any of these two conditions does not occur, then the lien shall
be removed.
The undersigned grants to the Village of Lemont the right to assign, transfer or set
over to any other municipal corporation or any part thereof all of the right, title and interest
in and to said lien without reservations.
DATED this day of , 1996.
.r
STATE OF ILLINOIS )
) SS:
COUNTY OF COOK }
I, the undersigned, a Notary Public in and for said County, in the State aforesaid,
DO HEREBY CERTIFY that is
known to me to be the same person(s) whose name(s) is /are subscribed to the foregoing
instrument, appeared before me this day in person, and acknowledged that he /she /they
signed, sealed, and delivered the said instrument as a free and voluntary act for the uses and
purposes therein set forth.
Notary Public
This instrument was prepared by:
VILLAGE OF LEMONT
Downtown Program
418 Main Street
Lemont, Illinois 60439
(708) 257 -6440