R-69-01 Authorizing release of letter of credit for long run marketplaceVILLAGE OF LEMONT
RESOLUTION NO.
RESOLUTION AUTHORIZING RELEASE OF LETTER OF CREDIT
FOR LONG RUN MARKETPLACE
WHEREAS, pursuant to an Annexation Agreement authorized by by Ordinance No.
0- 21 -99, approved on March 8, 1999, the developer of a shopping center known as "Long Run
Marketplace" 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 Long Run Marketplace, located at 127th and State Streets,
an Irrevocable Letter of Credit #528 from Resource Trust Bank, in the amount of $1,096,492.00
was established with the Village of Lemont on August 9, 1999; and
WHEREAS, Ryan Companies was granted a reduction of the Irrevocable Letter of
Credit in October of 2000, leaving a balance of $219,298.00, and
WHEREAS, Ryan Companies made application for release of the Irrevocable Letter of
Credit #528; 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:
SECTION 1: Site work covered under Letter of Credit #528 has been satisfactorily
completed.
SECTION 2: The Irrevocable Letter of Credit #528 is hereby released.
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 10th day of December, 2001.
John Benik
Debby Blatzer
Peter Coules
Connie Markiewicz
Stephen Rosendahl
Jeanette Virgilio
Attest:
AYES NAYS PASSED ABSENT
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Approved by me this 10th day of December, 2001.
CHARLENE M. SMOLLEN, Village Clerk
BILL OF SALE
KNOW ALL MEN BY THESE PRESENTS, that RYAN COMPANIES US, INC., a
Minnesota corporation (hereinafter referred to as the "Developer "), in consideration of One
Dollar ($1.00) and other valuable consideration, does hereby grant, sell, transfer and deliver unto
the VILLAGE OF LEMONT, an Illinois municipal corporation, the following goods, chattels
and other items of personal property in connection with the Ryan's Lemont Retail Subdivision,
namely:
All public improvements located within the areas shown as public utility
easements on Lots 3 and 4 of the plat of Ryan's Lemont Retail Subdivision,
such public improvements including but not limited to all sanitary sewer and
water lines, lift stations and sidewalks.
The object of this Bill of Sale is to grant, sell, transfer and deliver to the Village of Lemont the
ownership of all items of personalty that comprise the sanitary sewer and water distribution
systems installed by the Developer to date within Lots 3 and 4 of Ryan's Lemont Retail
Subdivision located in the Village of Lemont.
FURTHER BE IT KNOWN THAT Developer does hereby covenant that it is the lawful
owner of the afore described goods, chattels and personalty; that such items are free from all
encumbrances; that it has the right to sell the same as aforesaid; and that it warrants and will
defend such act.
DATED at (it 1-Z. , Illinois this . '."5" day of r 41 ✓ , 2001
RYAN C !�.•u•.� S, INC.
By:
STATE OF ILLINOIS
Its Vice P sident
The foregoing instrument as acknow dged before me this _� day of
., ..
7 k,' -� �aa. -1 , 2001, by , a Vice President
of Ryan Companies US, Inc., a Minnes a corporation, on behalf of said corporation.
"OFFICIAL SEAL"
JANICE ANN RISSMAN
COMMISSION EXPIRES 07/10/05
C: \WINDOWS \TEMP\Bill of Sale 011129.doc
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Notary Public
My Commission Expires: '7— /0-0 5
Bond #103662892
MAINTENANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT Ryan Companies US, Inc., 550 Warrenville Road, Suite 230, Lisle, IL 60532 as Principal,
hereinafter called Contractor, and TRAVELERS CASUALTY AND SURETY COMPANY OF
AMERICA, as Surety, hereinafter called Surety, are held and firmly bound unto the Village of
Lemont, 418 Main St., Lemont, IL 60439, as Obligee, hereinafter called Owner, in the penal sum
of Sixty Four Thousand Eight Hundred Twenty Five and 00 /100 ($64,825.00),
for the payment whereof Contractor and Surety bind themselves, their heirs, executors,
administrators, successors, and assigns, jointly and severally, firmly by these presents.
WHEREAS, Village Ordinance #0 -21 -99 that was ratified on March 8, 1999 allows for
installation of water service, sanitary service, sidewalks, and sanitary lift station at the Long Run
Market Place site on the Northwest corner of 135th Street and Archer Avenue in Lemont, IL, and
whereas the Village of Lemont requires that the Principal furnish a one year maintenance bond
covering the work allowed by this ordinance.
NOW, THEREFORE, the condition of this obligation is such that, if Contractor shall remedy any
defects due to faulty materials or workmanship which shall appear within the period from
December 10, 2001 to December 10, 2002, then this obligation to be void; otherwise to remain in
full force and effect.
PROVIDED, HOWEVER, that owner shall give Contractor and Surety notice of observed
defects with reasonable promptness.
SIGNED and sealed this 29th day of November, 2001.
IN THE PRESENCE OF:
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By:
Douglas J1D - ck, ' ice ident
Travelers Casualty and Surety Company of
America
By:
Stephen M. Klein, Attorney -In -Fact
INDIVIDUAL OR PARTNERSHIP ACKNOWLEDGEMENT
STATE OF
COUNTY OF
On this
personally appeared
to me known to be the person
bond, and acknowledged that
act and deed.
day of , before me
he
described in and who executed the forgoing
executed the same as free
Notary Public
CORPORATION ACKNOWLEDGEMENT
STATE OF
COUNTY OF
On this 3't°1 day of , 4,26 c , before me
personally came pc; ( ►� to me known,
who being by me duly scorn, -did depose and say; that he is the k)-1- cam (;,,L,
of (. .,� (_. o �z -, �k z
the corporation described in and which executed the above instrument; that he knows the seal
of said corporation; affixed by order of the Board of Directors of said corporation, and that he
signed his name thereto by like order.
"OFFICIAL SEAL" (1 %
JUL IF K KNEIP � {,� � l title .3 Notary Public
NOTARY PL�Rt!t_ sTAI E OF ILLINOIS 1
MY ( rA!C( ; '; P!PES 11/17/2002 (
SURETY ACKNOWLEDGMENT
STATE OF MINNESOTA
COUNTY OF RAMSEY
On this 29th day of November , 2001 , before me
appeared Stephen M. Klein to me personally known, who, being
duly sworn, did say that he is the Attorney -In -Fact of Travelers Casualty and Surety
Company of America of Hartford, CT
that the seal affixed to the foregoing instrument is the corporation seal of said corporation;
that the said instrument was signed and sealed on behalf of said corporation by authority of
its Board of Directors; and he did also acknowledge that he executed the said instrument as
the free act and deed of said Company.
SANDRA
NOTARY PUBLIC- MINNESOTA
My Commission Expires JIan, 31, 2005
x Notary Public
TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA
TRAVELERS CASUALTY AND SURETY COMPANY
FARMINGTON CASUALTY COMPANY
Hartford, Connecticut 06183 -9062
POWER OF ATTORNEY AND CERTIFICATE OF AUTHORITY OF ATTORNEY(S) -IN -FACT
KNOW ALL PERSONS BY THESE PRESENTS, THAT TRAVELERS CASUALTY AND SURETY COMPANY OF
AMERICA, TRAVELERS CASUALTY AND SURETY COMPANY and FAILMINGTON CASUALTY COMPANY,
corporations duly organized under the laws of the State of Connecticut, and having their principal offices in the City of Hartford,
County of Hartford, State of Connecticut, (hereinafter the "Companies ") hath made, constituted and appointed, and do by these
presents make, constitute and appoint: John C. Klein, John D. Klein, Stephen M. Klein, of St. Paul, Minnesota, their true and
lawful Attorney(s) -in -Fact, with full power and authority hereby conferred to sign, execute and acknowledge, at any place within the
United States, the following instrument(s): by his /her sole signature and act, any and all bonds, recognizances, contracts of
indemnity, and other writings obligatory in the nature of a bond, recognizance, or conditional undertaking and any and all consents
incident thereto and to bind the Companies, thereby as fully and to the same extent as if the same were signed by the duly authorized
officers of the Companies, and all the acts of said Attorney(s)-in-Fact, pursuant to the authority herein given, are hereby ratified and
confirmed.
This appointment is made under and by authority of the following Standing Resolutions of said Companies, which Resolutions are
now in full force and effect:
VOTED: That the Chairman, the President, any Vice Chairman, any Executive Vice President, any Senior Vice President, any Vice President, any
Second Vice President, the Treasurer, any Assistant Treasurer, the Corporate Secretary or any Assistant Secretary may appoint Attorneys -in -Fact
and Agents to act for and on behalf of the company and may give such appointee such authority as his or her certificate of authority may prescribe
to sign with the Company's name and seal with the Company's seal bonds, recognizances, contracts of indemnity, and other writings obligatory in
the nature of a bond, recognizance, or conditional undertaking, and any of said officers or the Board of Directors at any time may remove any such
appointee and revoke the power given him or her.
VOTED: That the Chairman, the President, any Vice Chairman, any Executive Vice President, any Senior Vice President or any Vice President
may delegate all or any part of the foregoing authority to one or more officers or employees of this Company, provided that each such delegation is
in writing and a copy thereof is filed in the office of the Secretary.
VOTED: That any bond, recognizance, contract of indemnity, or writing obligatory in the nature of a bond, recognizance, or conditional
undertaking shall be valid and binding upon the Company when (a) signed by the President, any Vice Chairman, any Executive Vice President, any
Senior Vice President or any Vice President, any Second Vice President, the Treasurer, any Assistant Treasurer, the Corporate Secretary or any
Assistant Secretary and duly attested and sealed with the Company's seal by a Secretary or Assistant Secretary, or (b) duly executed (under seal, if
required) by one or more Attorneys -in -Fact and Agents pursuant to the power prescribed in his or her certificate or their certificates of authority or
by one or more Company officers pursuant to a written delegation of authority.
This Power of Attorney and Certificate of Authority is signed and sealed by facsimile (mechanical or printed) under and by
authority of the following Standing Resolution voted by the Boards of Directors of TRAVELERS CASUALTY AND SURETY
COMPANY OF AMERICA, TRAVELERS CASUALTY AND SURETY COMPANY and FARMINGTON CASUALTY
COMPANY, which Resolution is now in full force and effect:
VOTED: That the signature of each of the following officers: President, any Executive Vice President, any Senior Vice President, any Vice
President, any Assistant Vice President, any Secretary, any Assistant Secretary, and the seal of the Company may be affixed by facsimile to any
power of attorney or to any certificate relating thereto appointing Resident Vice Presidents, Resident Assistant Secretaries or Attorneys -in -Fact for
purposes only of executing and attesting bonds and undertakings and other writings obligatory in the nature thereof, and any such power of attorney
or certificate bearing such facsimile signature or facsimile seal shall be valid and binding upon the Company and any such power so executed and
certified by such facsimile signature and facsimile seal shall be valid and binding upon the Company in the future with respect to any bond or
undertaking to which it is attached.
(11 -00 Standard)