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O-62-07 Ord. Annexation Agrmt Glen Oak EstatesVILLAGE OF LEMONT ORDINANCE NO.0.6a b7 AN ORDINANCE AUTHORIZING THE EXECUTION OF AN ANNEXATION AGREEMENT FOR 131.14 ACRES LOCATED AT THE SOUTHWEST CORNER OF PARKER ROAD AND 131ST STREET (Glen Oak Estates) ADOPTED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF LEMONT THIS 13th DAY OF AUGUST, 2007 PUBLISHED IN PAMPHLET FORM BY AUTHORITY OF THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF LEMONT, COOK, WILL AND DUPAGE COUNTIES, ILLINOIS, THIS 15TH DAY OF AUGUST, 2007 ORDINANCE NO. (per '07 AN ORDINANCE AUTHORIZING THE EXECUTION OF AN ANNEXATION AGREEMENT FOR 131.14 ACRES LOCATED AT THE SOUTHWEST CORNER OF PARKER ROAD AND 131ST STREET (Glen Oak Estates) WHEREAS, the legal owners of record of the territory which is the subject of an Annexation Agreement are ready, willing and able to enter into said agreement and perform the obligations as required therein; and WHEREAS, a copy of said Annexation Agreement has been attached hereto and included herein; and WHEREAS, the statutory procedures provided for in the Illinois Municipal Code for the execution of said agreement have been fully complied with. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF LEMONT, COUNTIES OF COOK, DUPAGE, AND WILL, STATE OF ILLINOIS, AS FOLLOWS: SECTION 1: That this ordinance shall be in full force and effect from and after its passage, approval, and publication in pamphlet form as provided by law. PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF LEMONT, COUNTIES OF COOK, WILL, AND DuPAGE, ILLINOIS, on this 13th day of August, 2007. AYES NAYS ABSENT ABSTAIN DEBBY BLATZER PETER COULES 'I CLIFFORD MIKLOS V BRIAN REAVES fV RON STAPLETON V JEANNETTE VIRGILIO V Approved by me this 13th day of August, 2007 JOHN . PIAZZA, Villag Pres' Attest: CHARLENE M. SMOLLEN, Village Clerk 7 -9 -07 Revised Draft VILLAGE OF LEMONT GLEN OAK ESTATES ANNEXATION AGREEMENT ARTICLE TITLE I Annexation II Zoning and Land Use Restrictions III Required Improvements IV Dedication and Construction of Streets, Sidewalks; Donations; Miscellaneous V Developer Donations and Impact Fees VI Easements and Utilities VII Development Codes and Ordinances and General Matters VIII Approval of Plans IX Notice of Violations X Maintenance Bond XI Damage to Public Improvements XII Binding Effect and Term and Covenants Running with the Land XIII Notices XIV Certificates of Occupancy XV Warranties and Representations XVI Continuity of Obligations XVII Model Homes/Entrance Sign ARTICLE TITLE XVIII No Waiver or Relinquishment of Right to Enforce Agreement XIX Village Approval or Direction XX Singular and Plural XXI Section Headings and Subheadings XXII Recording XXIII Authorization to Execute XXIV Amendment XXV Counterparts XXVI Curing Default XXVII Conflicts Between the Text and Exhibits XXVIII Severability XXIX Definition of the Village XXX Reimbursement of Costs XXXI Execution of this Agreement ii EXHIBITS EXHIBIT TITLE A Legal Description of Territory B Plat of Annexation, prepared by C. M. Lavoie & Associates, with a date of May 31, 2007 C Final Plat of Subdivision, prepared by C. M. Lavoie & Associates, with a date of August 8, 2007 D Land Use Plan, prepared by C. M. Lavoie & Associates, with a date of August 8, 2007 E Final Engineering Plans for Glen Oaks Estates, revised August 8, 2007, including Final Engineering Plans for Parker Road Improvements, prepared by C. M. Lavoie & Associates F Landscape Plan dated May 31, 2007 prepared by Rolf C. Campbell & Associates G Covenants, prepared by Montalbano Builders, Inc. GLEN OAK ESTATES ANNEXATION AGREEMENT THIS ANNEXATION AGREEMENT (hereinafter, "Agreement "), is made and entered into this 11 th day , 2007, by and between the VILLAGE OF LEMONT, a municipal corporation • in the Counties of Cook, DuPage and Will, in the State of Illinois (hereinafter referred to "VILLAGE ") and MONTALBANO BUILDERS, INC. (hereinafter referred to as "OWNER "); the VILLAGE and OWNER are hereinafter sometimes referred to individually as a "Party" and collectively as the "Parties "; and, WHEREAS, OWNER is the owner of record of the real estate (hereinafter referred to as the "TERRITORY ", the legal description of which is attached hereto as Exhibit A and depicted on Exhibit B by this reference made a part hereof'; and, WHEREAS, OWNER filed a Petition for Annexation of the TERRITORY to the VILLAGE (hereinafter, the "Petition ") that requested annexation of the TERRITORY subject to execution of an annexation agreement acceptable to the OWNER and the VILLAGE; and, WHEREAS, the TERRITORY has not been annexed to any municipality; and, WHEREAS, the TERRITORY constitutes an area that is contiguous to and may be annexed by the VILLAGE, as provided under the Illinois Municipal Code, 65 ILCS 5/7 -1 -1, et seq.; and, WHEREAS, the OWNER and VILLAGE agree that they will be bound by the terms of this Agreement; and, WHEREAS, the VILLAGE will extend its zoning, building, health and other municipal regulations and ordinances over the TERRITORY, thereby protecting the VILLAGE from possible undesirable or inharmonious use and development of unincorporated areas surrounding the VILLAGE; and, WHEREAS, the new boundaries of the VILLAGE resulting from annexation of the TERRITORY shall extend to the far side of every highway adjacent to the TERRITORY and shall include all of every adjacent highway not already annexed; and, 'WHEREAS, the Parties desire, pursuant to Chapter 65, Article 5, Section 11 -15.1 of the Illinois Municipal Code, to enter into an Agreement with respect to Annexation of the TERRITORY and various other matters; and, WHEREAS, pursuant to said provisions of the Municipal Code, the corporate authorities of the VILLAGE duly fixed a time for and held a hearing upon a proposed annexation agreement, in substance and form substantially the same as this Agreement, and gave notice of said hearing; and, 1 WHEREAS, the corporate authorities of the VILLAGE considered annexation of the TERRITORY described in the Petition and determined that the best interest of the VILLAGE will be met if the TERRITORY is annexed to the VILLAGE and developed in accordance with the provisions of this Agreement. NOW, THEREFORE, in consideration of the foregoing recitals and of the covenants, conditions and agreements herein contained, the Parties agree as follows: I ANNEXATION 1. Subject to the provisions of Chapter 65, Article 5 Section 7 of the Illinois Municipal Code, the Parties hereto respectively agree to do all things necessary or appropriate to cause the TERRITORY to be validly annexed to the VILLAGE as promptly as possible after execution of this Agreement. 2. The Plat of Annexation for the TERRITORY is attached hereto as Exhibit B. Said Plat extends the new boundaries of the VILLAGE to the far side of any adjacent highway not already annexed and includes all of every highway within the TERRITORY so annexed. Upon adoption of an ordinance annexing the TERRITORY to the VILLAGE, the Village Clerk shall cause a copy of said ordinance and said Plat to be duly recorded with the Cook County Recorder, and duly filed with the Cook County Clerk. The Village Clerk shall also send notice of annexation of the TERRITORY to the Cook County Elections Department and the U.S. Post Office branch serving the TERRITORY by certified or registered mail. II ZONING AND LAND USE RESTRICTIONS 1. Zoning Classification. Upon the Annexation of the TERRITORY to the VILLAGE, the parcel shown on the plat of annexation attached as Exhibit B shall be classified under the existing VILLAGE zoning ordinance, as amended, as R -4 PUD, Single- Family Detached Residence District with a special use for a Planned Unit Development. Prior to the date of this Agreement, such public hearings necessary to enable the VILLAGE lawfully to grant said zoning classification as to the TERRITORY were conducted upon proper notice, and no further action need be taken by the OWNER to cause the TERRITORY to be classified as R -4 PUD, Single - Family Detached Residence District with a special use for a Planned Unit Development once the TERRITORY is annexed to the VILLAGE. 2. Deviations. The ordinance granting such zoning classification shall also grant a deviation from the Lemont Zoning Ordinance requiring 15 foot side yard setbacks and shall allow a 10 foot side yard setback where a side load garage has been constructed as long as a total 30 foot distance is maintained between the structures on the adjoining lots. In cases where a ten foot side yard setback is exercised on one side, the opposite side will have a twenty foot side yard setback. 3. Final Engineering and Exhibits. The TERRITORY shall be developed substantially in accordance with the: 1. Final Plat of Subdivision, prepared by C.M. Lavoie & Associates, with a date of May 16, 2007, incorporated herein as Exhibit C. 2. Land Use Plan, prepared by C.M. Lavoie & Associates, with a date of May 16, 2007, incorporated herein as Exhibit D. 3. Engineering Plans, prepared by C.M. Lavoie & Associates, with a revision date of June 22, 2007, incorporated herein as Exhibit E, with any future revisions as required by the Village Engineer. 4. Landscape Plan dated May 31, 2007, prepared by Rolf C. Campbell & Associates, Inc., incorporated herein as Exhibit F, with any future revisions as required by the VILLAGE. 5. Covenants, prepared by Montalbano Builders, Inc., incorporated herein as Exhibit G. 4. Building Permits. Within 30 days after receipt of an complete application by OWNER for a building permit for construction of any buildings, or other improvements on the TERRITORY, the VILLAGE shall either issue a permit authorizing such construction, issue a permit authorizing such construction subject to satisfaction of specified conditions consistent with the terms of this Agreement, or issue a letter of denial of such permit specifying the basis of said denial by reference to the provisions of the VILLAGE's Building Code and Fire Code applied in accordance with this Agreement, which the subject construction would allegedly violate. If the VILLAGE conditionally approves such a permit, the VILLAGE shall issue the permit unconditionally within five (5) working days after satisfaction by the OWNER of the specified conditions. 5. Stop Orders. Any stop order issued by the VILLAGE directing work stoppage on any building or other improvement on the TERRITORY shall specify the section of the VILLAGE's Building Code or other municipal codes or regulations allegedly violated by the OWNER and shall give the OWNER 30 days in which to cure or diligently commence cure of such violation. Upon correction of any such violation, work on any improvement subject to a stop order may recommence. 3 6. Ordinance Amendments. It is understood and agreed, except as otherwise provided for herein, the Zoning Ordinance, Subdivision Regulations, Building Code and all other ordinances including all fees and charges of the VILLAGE, shall not be frozen during the term of this Agreement, and such ordinances, as the same may from time to time be amended and enforced throughout the VILLAGE, shall apply to the TERRITORY. Notwithstanding the foregoing, it is expressly understood and agreed by the Parties that during the term of this Agreement, no use permitted under the R -4, Single- family Detached zoning regulations at the time of the execution of the Agreement shall be denied to the OWNER and its successors or assigns, unless the zoning classification of the TERRITORY is amended by the petition of the OWNER or its successors or assigns, or unless the VILLAGE shall comprehensively amend its Zoning Ordinance. In the case of a comprehensive amendment to the VILLAGE'S Zoning Ordinance, the TERRITORY shall be designated the zoning district most comparable to the R -4, Single - family Detached. The current requirements of the Village as to lot dimensions, lot area, yard, setback, and other dimension restrictions, if any, shall continue to be applicable to the territory. 7. Village Assistance. Upon approval of this Agreement, the Village agrees to execute any and all MWRD Permits and to seek the approval of other governmental agencies including but not limited to, adjoining municipalities to allow connection to its existing storm sewer system. 8. Option. At Owner's sole discretion, Owner may develop the TERRITORY as a gated subdivision with entrance gates and /or guard houses at the 131s` Street and Parker Road entrances, and with the interior streets to be private streets maintained by the homeowners association. If Owner elects to so develop the TERRITORY, such election must be made and indicated on the initial Final Plat of Subdivision that is recorded, and the obligations for maintenance of the private streets, entrance gates or guard houses by the homeowner's association shall be set forth in the covenants which are recorded for the TERRITORY. III REQUIRED IMPROVEMENTS 1. Water Supply. OWNER shall construct and install at its expense all necessary on -site water mains to service the TERRITORY. All water mains shall be constructed and installed in accordance with the Subdivision Regulations of the VILLAGE and final engineering plans approved by the VILLAGE. The VILLAGE agrees to permit connection of the aforementioned water mains to the water facilities of the VILLAGE and to furnish water service to houses constructed in the TERRITORY on the same basis as water service is furnished to other parts of the VILLAGE. 2. Sanitary and Storm Sewers. OWNER shall construct and install at its expense all necessary sanitary sewers and storm sewers to service the TERRITORY in accordance with the 4 Subdivision Regulations of the VILLAGE and final engineering plans approved by the VILLAGE. The VILLAGE agrees to permit connection of the aforementioned sanitary sewers to the sanitary sewer facilities of the VILLAGE and to furnish sewer service to houses constructed in the TERRITORY on the same basis as sewer service is furnished to other parts of the VILLAGE. OWNER agrees that no surface water is to be discharged into the sanitary sewerage collection system and will make adequate provisions that this will not occur. Tap -on fees required by the Village shall not be waived. 3. Recapture Fee. OWNER acknowledges the existence of a sewer and water recapture ordinance and agrees that no connection to the Village sewer or water system will be allowed until payment is made as required by said Ordinance. The VILLAGE represents that it has the capacity in its water supply and sewer system and that said system is operational. The VILLAGE further represents that it has adequate capacity in said system and shall maintain said capacity for the development of the TERRITORY. If OWNER pays or reimburses Homewerks Lemont, LLC in excess of the amount due under the Recapture Ordinance (Ordinance # 0- 76 -06) by court order or by settlement, the VILLAGE shall allow OWNER recapture rights as to such amount. Recapture payments shall be made at the time of VILLAGE approval of each final plat for recording, the amount of the payment shall be based upon the number of lots in each final plat phase. . 4. Detention Area. The DEVELOPER agrees to construct detention basins in accordance with VILLAGE standards (except as provided on approved engineering plans) including the requirement to sod the detention basin which is to be conveyed and owned by a Homeowners Association to be created by the DEVELOPER. OWNER shall provide Title Insurance in the amount of the current market value, pay all real estate taxes, and provide a sufficient credit to pay the taxes on the detention areas until the detention area has been conveyed and accepted by the Homeowners Association. 5. Dormant Special Service Area. The OWNER, DEVELOPER, their successors and assigns, and Homeowners Association, shall at all times maintain the detention areas, common areas, and any other areas under the control of the Homeowners Association in a neat and orderly manner in accordance with the applicable ordinances, resolutions, codes, rules, regulations, guidelines, and procedures adopted by the VILLAGE OF LEMONT from time to time. The OWNERS, DEVELOPER, their successors and assigns, including Homeowners Association, shall not object to, and shall agree to fully cooperate with the VILLAGE in establishing and utilizing a Special Service Area ( "SSA ") for any of the TERRITORY as to a back -up mechanism for the care and maintenance of any and all common areas of the subdivision and /or DEVELOPER shall develop through a Declaration of Covenants on the TERRITORY, a Homeowners Association which the VILLAGE may require approval prior to approval of the Final Plat of Subdivision for any of the TERRITORY. The Homeowners Association shall have the primary responsibility providing for the regular care, common maintenance, common renewal and replacement of all common areas so as to keep the same in clean, sightly and first -class condition as determined by the VILLAGE. 5 In the event the VILLAGE utilizes the SSA to conduct the common area maintenance, the VILLAGE shall also be entitled to the reimbursement of any and all costs associated in administering the SSA including but not limited to, any applicable administrative costs, interest, expenses, and attorney's fees. Notwithstanding the foregoing, the special tax roll shall not be levied hereunder, and the SSA shall be "dormant ", and shall take effect if the VILLAGE finds that the Homeowners Association has failed to conduct any and all of the common area maintenance, as determined by the VILLAGE. 6. Park Site Provision. OWNER shall donate to the Lemont Park District the park site shown on the Plat of Subdivision in Exhibit C, which is identified as Lot 257 and is approximately 6_9 acres. OWNER shall also construct park improvements on the park site, as agreed to between OWNER and the Lemont Park District, the cost of which park improvements to be built by OWNER shall not exceed $295,500.0.0 (this amount being the remaining cash donation due after crediting OWNER for the value of the park site land donation). Such park site donation and construction of park improvements shall fully satisfy OWNER'S Park Impact Fee. OWNER shall donate the park site and construct the park improvements as part of the first phase of the development, so long as the Lemont Park District has completed the design and specifications of the park improvements and provided such to OWNER. 7. Parker Road. OWNER will dedicate a right -of way for Parker Road 50 feet from the center of right -of -way and shall improve said roadway to VILLAGE Collector Streets Standards. In the event the OWNER does not dedicate the property as herein required and /or complete the aforementioned improvements so required, then, in that event, the VILLAGE may deny /rescind any building permit, Final Plat Approval, and any other permit applicable to any portion of the TERRITORY. The Village has or will obtain any additional right -of -way necessary to improve said roadway to Collector Streets Standards. VILLAGE will enact a Recapture Ordinance to collect the proportionate share of the cost of the Parker Road improvements from the property owner adjacent to the east side of Parker Road. IV DEDICATION AND CONSTRUCTION OF STREETS, SIDEWALKS, MISCELLANEOUS 1. Streets. OWNER shall construct at its expense all public streets as shown on the Site Plan in accordance with the Subdivision Regulations of the VILLAGE and final engineering plans approved by the VILLAGE. Also, OWNER shall be required to keep all public streets adjoining the TERRITORY free from mud and debris generated by any new construction activity on the TERRITORY. Such streets must be cleaned at least once a week, and more often if required by VILLAGE in its sole judgment. For each day that the streets are not cleaned as required hereunder during construction, OWNER shall be subject to a fine as provided in the Subdivision Regulations. If 6 any such fine is not promptly paid, the VILLAGE shall have the right to stop any and all further construction until paid. 2. Construction Hours. The Owner shall be responsible for strict adherence to VILLAGE regulations on permissible hours of construction for all construction activity related to the installation of public improvements. It is agreed that the VILLAGE shall issue stop -work orders, tickets and fines as reasonably necessary to enforce its construction hour's regulations. The penalty for construction hours violations shall be imposed against only the lot where the violation is found to have occurred. 3. Maintenance. The OWNER shall be responsible for maintenance of the streets, including any damage incidental to the construction of dwellings in the subdivision by other contractors, their subcontractors or suppliers, until acceptance by VILLAGE. 4. Design and Standards. The design and construction standards for the network of planned streets within the TERRITORY shall be in accordance with final engineering plans as approved by the VILLAGE. 5. Dedications. A dedication measuring 50 feet from the center of the right-of-way, shall be required along Parker Road and Derby Road. 6. Street Lights. OWNER shall be required to install streetlights in accordance with the Subdivision Regulations of the VILLAGE and final engineering plans approved by the VILLAGE. 7. Sidewalks and Street Trees. OWNER shall be required to construct sidewalks in accordance with the term of this Agreement, the Subdivision Regulations of the VILLAGE and final engineering plans approved by the VILLAGE. The cost of any sidewalks and street trees to be installed on public ROW shall be included in the required letters of credit for each phase of the development of the TERRITORY, with the amounts to be computed on the same basis as the amounts to be included in the letter of credit for all other public improvements for the TERRITORY. Nothing contained herein shall prohibit assigning, delegating or transferring the responsibility for planting such trees and installing sidewalk on individual lots by contract or declaration to home building contractors applying to the VILLAGE for building construction permits. However, the OWNER shall at all times remain primarily liable to the VILLAGE for such installation and, in any event, responsibility for the installation of street trees and sidewalk shall not be assigned or transferred by the OWNER to the homeowner (end user). Sidewalks and street trees shall be installed by the OWNER on any lots remaining vacant within three years of recording of the Final Plat of Subdivision for each individual phase. A Parkway Tree Plan and data sheet shall be included as part of the final Landscaping Plan, attached hereto as Exhibit F. This plan shall specify the number of street trees and the type of street trees assigned to each lot. 7 V DEVELOPER DONATIONS AND IMPACT FEES 1. Developer Donations and Impact Fees. Prior to recording a Final Plat of Subdivision, OWNER shall pay cash contributions in accordance with the ordinances of the Village. If a final development plan or Plat of Subdivision is filed within one (1) year of the effective date of this Agreement, the required contributions shall be as follows: • Lemont Park District — Refer to Section III (6) of this Agreement; • Lemont - Bromberek School District 113A - OWNER shall pay $632,220.55 for the benefit of Lemont - Bromberek School District 113A. If the TERRITORY is developed in phases, the donation shall be paid on a pro -rata basis based upon the number of lots in the phase for which the Final Plat is being recorded. • Lemont Township High School District 210 - OWNER shall pay $316,000 for the benefit of Lemont Township High School District 210. If the TERRITORY is developed in phases, the donation shall be paid on a pro -rata basis based upon the number of lots in the phase for which the Final Plat is being recorded. • Lemont Fire Protection District - OWNER shall pay $74,500.00 if dwelling units are unsprinkled, or $25,000.00 if the dwelling units are sprinkled for the benefit of Lemont Fire Protection District. If the TERRITORY is developed in phases, the donation shall be paid on a pro -rata basis based upon the number of lots in the phase for which the Final Plat is being recorded. • Lemont Library District - OWNER shall pay $40,453.22 for the benefit of Lemont Public Library District. If the TERRITORY is developed in phases, the donation shall be paid on a pro -rata basis based upon the number of lots in the phase for which the Final Plat is being recorded. • Public Safety Impact Fee — OWNER shall pay 1,000.00 per lot to the. VILLAGE for a Public Safety Impact Fee. The total fee for all 250 lots shall be paid on a prorata basis at the time of the recording of each final plat of subdivision for each phase. • Annexation Fee - OWNER shall pay $62,500.00 to the VILLAGE for Annexation Fees. The total fee for all 250 lots shall be paid at the time of the recording of the initial final plat • Water System Improvement Contribution - OWNER shall pay $1,000.00 per lot to the VILLAGE at the time of issuance of building permit for the cost of expanding the well and storage capacity to the TERRITORY. 8 The VILLAGE shall not impose any donation, contribution, recapture or impact fee requirement on OWNER or its successors and assigns for development of the TERRITORY other than those specified in this Agreement. 2. Development Phases. The VILLAGE shall allow the DEVELOPER to develop the subject TERRITORY in three (3) separate phases as long as mass grading, connecting storm sewer system, detention facilities, and other drainage facilities are all in place at the time of the first phase. Any impact fees, contributions, and securities shall be paid prior to recording Final Plat of Subdivision for each individual Phase, except that Park District donations, improvements and contributions as well as storm sewer system for the subdivision, walking paths, including but not limited to Parker Road, shall be provided for in the First Phase and adequate security posted for such improvements. By execution of this Agreement, the Village is approving the Final Plat for the entire TERRITORY although final plats may be recorded in three phases without further action by the Village Board provided developer complies with all ordinances and terms of this Agreement. The requirement under Section XVI (E)(2)(b) of the Village Zoning Ordinance to record a final plat of subdivision within 60 days shall not commence running until after each individual final plat is approved by the VILLAGE „for recording. Closing of Final Plats by Escrow. If requested by OWNER, VILLAGE and OWNER shall provide for an escrow for recording of final plats, whereby OWNER [or Owner's contract purchaser] shall deposit the security for, impact fees, and other necessary items for recording of a Final Plat of Subdivision, and the VILLAGE shall execute and deposit into escrow, the Final Plat of Subdivision the items shall be released by the Escrowee, and the Final Plat of Subdivision shall be promptly recorded. No escrow deposits shall be held in excess of 21 days and any costs including attorneys' fees shall be paid by the party requesting the escrow. VI EASEMENTS AND UTILITIES The OWNER agrees that the final plat of subdivision for the TERRITORY will grant to the VILLAGE all necessary easements for the extension, maintenance, replacement and repair of sanitary sewer, storm sewer, water, street, or other utilities, including cable television, or for other improvements, subject to the provisions of the Subdivision Control Ordinance, whish may serve not only the TERRITORY, but also other property in the vicinity of the TERRITORY. All such easements to be granted shall name the VILLAGE and /or other appropriate entities designated by the VILLAGE as grantee thereunder. It shall be the responsibility of the OWNER to obtain all easements, bot on site and off site, necessary to serve the TERRITORY. 9 All electricity, telephone, cable television and gas lines shall be installed underground, the location of which underground utilities shall be at the OWNER'S option, upon approval of the respective utility companies. VII DEVELOPMENT CODES AND ORDINANCES AND GENERAL MATTERS 1. Existing Ordinances. Except as otherwise provided in this Agreement, the development of the TERRITORY shall be in accordance with the existing building, zoning, subdivision, storm water retention and other developmental codes and ordinances of the VILLAGE as they exist on the date each respective permit for development is issued. Planning and engineering designs and standards shall be in accordance with the then existing ordinances of the VILLAGE or in accordance with the statutes and regulations of other governmental agencies having jurisdiction thereof if such standards are more stringent than those of the VILLAGE at such time. All fees, etc. set forth under the various ordinances of the VILLAGE shall be paid by the OWNER at the rate set forth in the VILLAGE ordinances at the time each permit is issued, except as otherwise provided in this Agreement. 2. Occupancy Permits. No occupancy permit shall be issued for any building prior to the completion of the required public improvements, including street signs, provided, however, the construction and installation of the public improvements to be done by OWNER may be commenced at any time after OWNER has delivered to VILLAGE an irrevocable letter of credit, in a form satisfactory to, and from a bank or other financial institution approved by, the VILLAGE in the amount of 110% of Village Engineer's estimate. Engineer's estimate of the cost of construction and installation of all such public improvements as approved by the Village Engineer, including all required lighting, landscaping, street trees, sewer and water lines and storm water management facilities, except to the extent such facilities are to remain private, and after approval of a site development permit by the VILLAGE. At no time shall the Letter of Credit funds be utilized by the OWNER for the future payment of contractors, materials salaries and wages and the like. The VILLAGE makes no guarantees regarding the timely reduction of said Letter of Credit and therefore should not be used for time sensitive payment purposes. The Village Engineer shall promptly, recommend the amount of said letter of credit to be reduced, from time to time, as major public improvements are completed, upon approval of the Village Board. 3. As -Built Engineering Plans. OWNER, at OWNER'S own cost, agrees to provide the VILLAGE "as built ", engineering plans and specifications upon substantial completion of the public improvements or at the request of the Village Engineer, but in no event later than the time required by Ordinance No. 456, as amended. 4. Acceptance of Public Improvements. It is agreed that all of the public improvements contemplated herein shall upon acceptance thereof by the VILLAGE, become the property of 10 VILLAGE and be integrated with the municipal facilities now in existence or hereinafter constructed and VILLAGE thereafter agrees to maintain said public improvements. Acceptance of said public improvements shall be by resolution of the President and Board of Trustees only after the Village Engineer or Village Engineer Consultant has issued his Certificate of Inspection affirming the improvements have been constructed in accordance with approved Engineering Plans and Specifications. OWNER agrees to convey by appropriate instrument and VILLAGE agrees to promptly accept, subject to terms hereof, the public improvements constructed in accordance with the approved engineering plans and specifications. 5. Debris Removal. OWNER agrees not to let debris or excessive construction waste accumulate on the TERRITORY. OWNER shall, within ten (10) days of notification of a violation by the VILLAGE, remove all debris from the locations as specified by the VILLAGE. If debris is not removed within this time period, the VILLAGE shall have the right to draw upon the Letter of Credit provided for in this Agreement to remove any such debris on the TERRITORY. The VILLAGE will not draw upon the Letter of Credit if OWNER removes the debris as directed by the VILLAGE within the ten (10) day notice period. VIII APPROVAL OF PLANS VILLAGE agrees to expeditiously take action to approve or disapprove all plats, plans and engineering submitted to VILLAGE by OWNER. If the VILLAGE determines that any such submission is not in substantial accordance with this Agreement and applicable ordinances, the VILLAGE shall promptly notify OWNER in writing of the specific objection to any such submission so that OWNER can make any required corrections or revisions. IX NOTICE OF VIOLATIONS The VILLAGE will not issue stop orders directing work stoppage on building or parts of the project without giving notice of the Section of the Code allegedly violated by OWNER, so the OWNER may forthwith proceed to correct such violations as may exist. Morever, the OWNER shall have an opportunity to correct possible violations. This paragraph shall not restrain the Building Official or Code Enforcement Officials from issuing a stop work order in any case where he considers a continuation of the work to constitute a threat to the health or safety of the public or personnel on or near the site. VILLAGE shall provide OWNER notice as required by Statute of any matter, such as public hearing, proposed building code 11 changes and policy changes or other matters that may affect the TERRITORY or development of it under this Agreement. X MAINTENANCE BOND At the time or times of acceptance by VILLAGE of the installation of any part, component or of any public improvement in accordance with this Section, or any other section of the Agreement, OWNER shall deposit with the VILLAGE, a maintenance bond in the amount of five percent (5 %) of the cost of the installation of the public improvement accepted by VILLAGE. This bond shall be deposited with the VILLAGE and shall be held by the VILLAGE for a period of 24 months after completion and acceptance of all improvements. In the event of a defect in material and /or workmanship within said period, then said Bond shall not be returned until correction of said defect and acceptance by VILLAGE of such correction. XI DAMAGE TO PUBLIC IMPROVEMENTS The OWNER shall replace and repair any damage to public improvements installed within, under, or upon the TERRITORY resulting from construction activities by OWNER, its successors and assigns, and their employees, agents, contractors, or subcontractors during the term of this Agreement. OWNER shall have no obligation hereunder with respect to damage resulting from ordinary usage, wear and tear. XII BINDING EFFECT AND TERM AND COVENANTS RUNNING WITH THE LAND 1. Term. This Agreement shall be binding upon and insure to the benefit of the Parties, successor owners of record, and assignees and lessees of the TERRITORY, and upon any successor corporate authorities and employees of the VILLAGE and successor municipalities, for a period of 20 years from the date of execution hereof. 2. Binding Effect. The terms and conditions of this Agreement relative to the payment of monies and contributions to the VILLAGE, dedication of public improvements, granting of easements to the VILLAGE, dedication of rights -of -way to the VILLAGE and the developmental standards established herein shall constitute covenants which shall run with the land of the TERRITORY. 12 3. Enforcement. It is further agreed that any party to this Agreement, either in law or in equity, by suit, action, mandamus, or other proceeding, may enforce or compel the performance of this Agreement, or have such other relief for the breach thereof as may be authorized by law or that by law or in equity is available to them. XIII NOTICES Unless otherwise required by VILLAGE ordinance, all notices, requests and demands shall be in writing and shall be personally delivered to or mailed by United States Certified Mail, postage prepaid and return receipt requested as follows: To VILLAGE: To OWNER: 1. Village President 418 Main Street Lemont, Illinois 60439 2. Village Clerk 418 Main Street Lemont, Illinois 60439 Montalbano Builders, Inc. 1801 Meyers Road, Suite 500 Oakbrook Terrace, IL 60181 Attn: Anthony Montalbano CC: Michael McGurn, General Counsel (same address) Or such other addresses that any Party hereto may designate in writing to the other Party pursuant to the provisions of this Section. XIV CERTIFICATES OF OCCUPANCY 1. Within five (5) business days after request by OWNER for a final inspection of a building within the TERRITORY, the VILLAGE shall issue a certificate of occupancy for such building or issue a letter of denial of a certificate of occupancy identifying the correction necessary as a condition of a certificate of occupancy and specifying the section of the Building Code relied on by the VILLAGE in its request for correction. 13 XV WARRANTIES AND REPRESENTATIONS The OWNER represents and warrants to the VILLAGE as follows: 1. That identified on page 1 hereof is the OWNER as legal title holder. 2. That the OWNER proposes to develop the TERRITORY in the manner contemplated under this Agreement. 3. That other than OWNER, no entity or person has any interest in the TERRITORY or its development as herein proposed. 4. That OWNER has provided the legal description of the TERRITORY set forth in thisAgreement and the attached Exhibits and that said legal description is accurate and correct. 5. Montalbano Homes or any of their related companies will not construct single family homes within the TERRITORY. XVI CONTINUITY OF OBLIGATIONS Notwithstanding any provisions of this Agreement to the contrary, including but not limited to the sale and /or conveyance of all or any part of the TERRITORY by OWNER, OWNER shall at all times during the term of this Agreement remain liable to VILLAGE for the faithful performance of all obligations imposed upon them by this Agreement until such obligations have been fully performed or until VILLAGE, at its sole option, has otherwise released OWNER and from any all of such obligations. Notwithstanding the foregoing, this Agreement shall be assignable by the OWNER provided, however, that OWNER shall notify the Village Clerk, in writing, within five (5) business days thereof, of any transfer of any interest in the TERRITORY for construction and /or development, of the name or names of the transferees, and the portion or portions of the subject property transferred; and further provided, that the assignee shall expressly assume liability for all duties and obligations imposed by this Agreement, and evidence of such assignment and assumptions shall be provided to the Village Clerk, and the VILLAGE shall consent to such assignment and assumption, which consent shall not be unreasonably withheld and which shall include the VILLAGE'S acceptance of replacement security. Individual lot sales to homeowners are excluded from this notice requirement. 14 XVII MODEL HOMES/ENTRANCE SIGN 1. Model Homes. The OWNER/DEVELOPER may obtain building permits for no more than eight (8) model homes to be constructed which shall at a minimum, be accessible to a gravel roadway base sufficient to allow fire and police protection. No occupancy permits shall be granted for any model homes until water and sewer connections have been made and roads have been improved with a binder course. This Article shall not limit the number of model homes after subdivision improvements have been installed (ie. sewer, water, detention, binder course on the streets). OWNER/DEVELOPER may use model homes for a sales office for the sale of lots or homes within the TERRITORY. 2. Subdivision Entrance Signs. The subdivision entrance signs shall be constructed of a stone material approved by the Village Board and located in an area that is in an easement and shall provide for perpetual care, maintenance and restoration by the Homeowners Association. XVIII NO WAIVER OR RELINQUISHMENT OF RIGHT TO ENFORCE AGREEMENT Failure of any Party to this Agreement to insist upon the strict and prompt performance of the terms covenants, agreements, and conditions herein contained, or any of them, upon any other party imposed, shall not constitute or be construed as a waiver or relinquishment of any party's right thereafter to enforce any such term, covenant, agreement or condition, but the same shall continue in full force and effect. The OWNER shall have the right to install a temporary sales trailer for use as a lot sales office on the Property. The trailer shall be installed on a hard surface pavement, and shall have hard surface pavement access and parking. The sales trailer shall be removed when all lots in the subdivision have been sold. OWNER shall install and operate the sales trailer in compliance with applicable Village ordinances. The sales trailer may be installed upon the property prior to the recording of the initial final plat. XIX VILLAGE APPROVAL OR DIRECTION Where VILLAGE approval or direction is required by this Agreement, such approval or direction means the approval or direction of the Corporate Authorities of the VILLAGE unless otherwise expressly provided or required by law, and any such approval may be required to be 15 given only after and if all requirements for granting such approval have been met unless such requirements are inconsistent with this Agreement. XX SINGULAR AND PLURAL Wherever appropriate in this Agreement, the singular shall include the plural, and the plural shall include the singular. XXI SECTION HEADINGS AND SUBHEADINGS All section headings or other headings in this Agreement are for general aid of the reader and shall not limit the plain meaning or application of any of the provisions thereunder whether covered or relevant to such heading or not. XXII RECORDING A copy of this Agreement and any amendments hereto shall be recorded by the VILLAGE at the expense of the OWNER within 30 days after the execution thereof. XXIII AUTHORIZATION TO EXECUTE The President and Clerk of the VILLAGE hereby warrant that they have been lawfully authorized by the VILLAGE Board of the VILLAGE to execute this Agreement. The OWNER and VILLAGE shall, upon request, deliver to each other at the respective time such entities cause their authorized agents to affix their signatures hereto copies of all bylaws, resolutions, ordinances, partnership agreements, letters of direction or other documents required to legally evidence the authority to so execute this Agreement on behalf of the respective parties. 16 XXIV AMENDMENT This Agreement sets forth all the promises, inducements, agreements, conditions and understandings between the parties hereto relative to the subject matter thereof, and there are no promises, agreements, conditions or understandings, either oral or written, express or implied, between them, other than are herein set forth. Except as herein otherwise provided, no subsequent alteration, amendment, change or addition to this Agreement shall be binding upon the Parties hereto unless authorized in accordance with law and reduced in writing and signed by them. XXV COUNTERPARTS This Agreement may be executed in two or more counterparts or duplicate originals, each of which taken together, shall constitute one and the same instrument. XXVI CURING DEFAULT It is understood by the Parties hereto that time is of the essence of this Agreement. The Parties to this Agreement reserve a right to cure any default hereunder within fifteen (15) days from written notice of such default. XXVII CONFLICT BETWEEN THE TEXT AND EXHIBITS In the event of a conflict in the provisions of the text of this Agreement and the Exhibits attached hereto, the text of the Agreement shall control and govern. XXVIII SEVERABILITY If any provision of this Agreement is held invalid by a court of competent jurisdiction or in the event such court shall determine that the VILLAGE does not have the power to perform any such provisions, such provision shall be deemed to be excised here from and the invalidity 17 thereof shall not affect any of the other provisions contained herein, and such judgment or decree shall relieve VILLAGE from performance under such invalidity thereof shall not affect any of the other provisions contained herein, and such judgment or decree shall relieve VILLAGE from performance under such invalid provision of this Agreement. XXIX DEFINITION OF VILLAGE When the term VILLAGE is used herein it shall be construed as referring to the Corporate Authorities of the VILLAGE unless the context clearly indicates otherwise. XXX REIMBURSEMENT OF COSTS The OWNER agrees to reimburse the VILLAGE for reasonable attorney's fees, planning consultants and engineering costs incurred by the VILLAGE in connection with the annexation of the TERRITORY, or in the enforcement of any of the terms of the Annexation Agreement. Such payment shall be made promptly upon receipt of a request from the VILLAGE of such reimbursement, with copies of the bills attached. In the event of a challenge or objection to contiguity, the OWNER waives any claim against the VILLAGE for any damages or injury and will indemnify the VILLAGE for any costs or attorneys fees. XXXI EXECUTION OF AGREEMENT This Agreement shall be signed last by the VILLAGE and the President of the VILLAGE shall affix the date on which he signs this Agreement on page 1 hereof which date shall be the effective date of this Agreement. 18 IN WITNESS WHEREOF, the Parties have caused this Agreement to be executed on the day and year first above written. ATTEST: B Village Clerk VILLAGE OF LEMONT an Illinois Municipal Corporation By: OWNER: By 1 -/ ?s+%lent L LarAll Silage Presiden ValerieSmith \MyDocuments \Vill age\ GlenOakEstatesAnnexationAgreement - Draft 5 -7 -07 19 wt ,4;11 Notary Certificates STATE OF ILLINOIS ) ) SS. COUNTY OF COOK ) I, the undersigned, a Notary Public, in and for the County and Sate aforesaid, DO HEREBY CERTIFY that JOHN F. PIAZZA personally known to me to be the President of the Village of Lemont, and CHARLENE M. SMOLLEN, personally known to me to be the Village clerk of said municipal corporation, and 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 severally acknowledged that as such President and Village Clerk, they signed and delivered the said instrument and caused the corporate seal of said municipal corporation to be affixed thereto, pursuant to authority given by the Board of Trustees of said municipal corporation, as their free and voluntary act, and as the free and voluntary act and deed of said municipal corporation, for the uses and purposes therein set forth. IVEN under my hand and official seal, this (3 day of .$ IU I AAI. • Nota My comm sion ex •' lic res OFFICIAL SEAL ROSEMAY YATES MY COMMISSION EXPIR &S 8.13.2008 STATE OF ILLINOIS) ) SS. COUNTY OF COOK) , 20 2007. I, the undersigned, a Notary Public in and for the County and State aforesaid, DO HEREBY CERTIFY that A„ „ , 4.� y it , It _,.I e_ I appeared before me this day in person and acknowledged tha e signed and delivered the said instrument as his own free and tary act for the uses and purposes therein set forth. nd and official seal, this Notary Public My commission expires 20 / day of , 2007. ,20 D$. Official Seal Kelly N Lombardo Notary Public State of Illinois My Commission Expires 08!27/08 EXHIBIT A Legal Description of TERRITORY: Parcel 1: THE SOUTH 1/2 OF THE SOUTHEAST'' /4 AND THE EAST FIVE ACRES OF THE SOUTH 1/4 OF THE SOUTHWEST 1/4 OF SECTION 34, TOWNSHIP 37 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. Parcel 2: THAT PART OF THE SOUTHEAST '/4 OF THE SOUTHWEST'' /4 OF SECTION 34 AFORESAID, DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER THEREOF; THENCE SOUTH, 10.02 -1/2 CHAINS; THENCE WEST, 6.43 CHAINS, MORE OR LESS TO AN OLD ROAD, THENCE NORTH 17 DEGREES, 30 MINUTES EAST, 10.57 CHAINS; THENCE EAST, 3.28 CHAINS, MORE OR LESS, TO THE POINT OF BEGINNING, ALL IN TOWNSHIP 37 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. Parcel 3: LOT 1 OF THE EAST '/2 OF LOTS 6 AND 7 IN COUNTY CLERK'S DIVISION OF THE SOUTH '/2 OF SECTION 34, TOWNSHIP 37 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPALMERIDIAN, EXCEPT OF FIVE ACRES OF LAND DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF THE SOUTHEAST 1/4; THENCE SOUTHERLY ALONG THE EAST LINE OF SAID SOUTHEAST'' /4, A DISTANCE OF 425.0 FEET FOR A POINT OF BEGINNING, THENCE WESTERLY AND PARALLEL TO THE NORTH LINE OF SAID SOUTHEAST 1/4, A DISTANCE OF 633.14 FEET; THENCE SOUTHERLY AND PARALLEL TO THE EAST LINE OF SAID SOUTHEAST 1/4, A DISTANCE OF 344.0 FEET; THENCE EASTERLY AND PARALLEL TO THE NORTH LINE OF SAID SOUTHEAST 1/4, A DISTANCE OF 633.14 FEET TO A POINTIN THE EAST LINE OF SAID OF SOUTEAST 1/4; THENCE NORTHERLY ALONG THE EAST LINE OF SAID SOUTHEAST 1/4, A DISTANCE OF 344 FEET TO THE POINT OF BEGINNING, ALL IN COOK COUNTY ILLINOIS. Parcel 4: THAT PART OF LOTS 1 AND 6 IN COUNTY CLERK'S DIVISION OF THE SOUTH 1/2 OF SECTION 34 TOWNSHIP 37 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF THE SOUTHEAST' /4 OF SAID SECTION 34; THENCE SOUTHERLY ALONG THE EAST LINE OF SAID SOUTHEAST'' /4 A DISTANCE OF 425.0 FEET TO A POINT FOR THE POINT OF BEGINNING; THENCE WESTERLY AND PARALLEL TO THE NORTH LINE OF SAID SOUTHEAST'` /4, A DISTANCE OF 633.14 FEET; THENCE SOUTHERLY AND PARALLEL TO THE EAST LINE OF SAID SOUTHEAST'' /4, A DISTANCE OF 344.0 FEET; THENCE EASTERLY AND PARALLEL TO THE NORTH LINE OF SAID SOUTHEAST 1/4, A DISTANCE OF 633.14 FEET TO A POINT IN THE EAST LINE OF SAID SOUTHEAST 1/4; THENCE NORTHERLY ALONG THE EAST LINE OF SAID SOUTHEAST 1/4 A DISTANCE OF 344.0 FEET TO THE POINT OF BEGINNING IN COOK COUNTY, ILLINOIS.