R-18-04 04/12/2004RESOLUTION NO. R - f g-,
RESOLUTION AUTHORIZING LETTER OF CREDIT REDUCTION
FOR KENSINGTON ESTATES II SUBDIVISION
WHEREAS, pursuant to the Subdivision Regulations, an owner or developer of a subdivision is
required to deposit certain security or evidence thereof with the Village of Lemont to guarantee the
installation of such improvements; and
WHEREAS, in the matter of Kensington Estates II Subdivision, located north of McCarthy
Road, just east of Parker Road, an Irrevocable Letter of Credit # 224, issued by 1" National Bank of
Manhattan in the amount of $77,929.00 was deposited with the Village of Lemont on April 14, 2003; and
WHEREAS, Ed Mansell of E. T. Mansell Construction Company, has made application for a
reduction of the Irrevocable Letter of Credit #224 in the amount of $57,758.00, or bringing the balance to
$20,171.00; and
WHEREAS, a duly authorized agent of the Village of Lemont has inspected certain portions of
the improvement and has found these portions to have been satisfactorily installed;
NOW, THEREFORE BE IT RESOLVED by the President and Board of Trustees of the
Village of Lemont that Irrevocable Letter of Credit #224 for Kensington Estates II Subdivision is hereby
reduced to $20,171.00.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF LEMONT, COUNTIES OF COOK, WILL, AND DU PAGE, ILLINOIS, on this
12th day of April, 2004.
AYES NAYS PASSED ABSENT
Debby Blatzer
Peter Cowles
Brian Reaves
Steven Rosendahl ✓
Ron Stapleton ✓
Jeanette Virgilio
ATTEST:
CHARLENE M. SMOLLEN, Village Clerk
APPROVED by me this 12' day of April, 2004.
J
. PIAZZA, Village Presid
S: \COMMUNITY DEVELOPMENT DEPT \CASE FILES \2002 \22.03 Kensington II\Kens2Red, ceLOC.wpd
E.T. MANSELL CONSTRUCTION CO., INC.
CARPENTER • GENERAL CONTRACTOR Since 1875
191 01—t
March 30, 2004
Tim Teddy
Village Planner
Village of Lemont
418 Main Street
Lemont, II. 60439
Re: Kensington Estates II
Dear Tim,
I am requesting a reduction in my Letter of Credit for
Kensington Estates II. The current amount is $77,900.00. I
would like to reduce it to $20,171.00. Enclosed is a schedule
of work completed to date.
Thank you,
cc. Jack Kramer, President
First National Bank of Manhattan
160 E. WEND STREET • SUITE A • LEMONT, IL 60439 • (630) 257 -3305 • FAX (630) 257 -0749
KENSINGTON ESTATES II
$17,540.00 X 1.15% - $20,171.00
Estlmafe of Prices
ITEM
QUANTITY
UNIT
PRICE
COST
%con)?
L.o jr
1
Underground
8 "Sewer Taps
10
EA.
$800.00
$6,000.00
/ao 56
- o "
8" Sewer Sep/Ices
10
EA.
$1,200.00
$12,000.00
/ p p
o -
1.5" Augered Water Service
10
EA.
$1,500.00
$15,000.00
/Oa
^ 0 -
Restoration Parkway
200
S.Y.
$12.00
$2,400.00
7.0
/ 92.0 -`
42" R.C.P.
100
L.F.
$58.00
$5,800.00
/pU f(,
- 0 -
42" F.E.S. w Toe and Grate
1
EA.
$1,600.00
$1,800.00
/cr�f6
- o "
72" Storm Manhole
1
EA.
$2,600.00
$2,600.00
/crj 0
- 0 -
Rip Rap 8" to 12"
400
S.F.
$2.00
$800.00
0 ,6
800 —
2
Streetlight Remove and Replace
2
EA.
11,000.00
12,000.00
/0016
- 0 --
3
Erosion Control
Slit Fence
900
L.F.
$1.25
$1,125.00
/00X
- O -
4
Public Improvements
5' Public Sidewalk
850
L.F.
$20.00
$13,000.00
ZOf�
/Of yob "
Parkway Trees
18
EA.
$340.00
$5,440.00
/3 /h
y '12O -
Total
$67,765.00
/ 7/ 5410 -^
$17,540.00 X 1.15% - $20,171.00