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O-885-95 05/22/95ITEM v.B.5 VILLAGE OF LEMONT ORDINANCE NO. AN ORDINANCE AUTHORIZING DOWNTOWN FACADE IMPROVEMENT LOW INTEREST LOAN PROGRAM ADOPTED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF LEMONT Thi day of .4. , 1995. 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 day of , 1995. ORDINANCE NO. Fs5 AN ORDINANCE AUTHORIZING DOWNTOWN FACADE IMPROVEMENT GRANT AND LOW INTEREST LOAN PROGRAM WHEREAS, the Village of Lemont adopted Ordinance 690 approving a Tax Increment Redevelopment Plan and Redevelopment Project for the Downtown Redevelopment Project Area; and WHEREAS, pursuant to said -Plan, the Village of Lemont is desirous of implementing an improvement program to encourage renovation, and new construction within the T.I.F. District. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF LEMONT, COUNTIES OF COOK, WILL AND DUPAGE, STATE OF ILLINOIS, AS FOLLOWS: SECTION 1: The PROGRAM PROCEDURE as outlined in the attached brochures entitled "Village of Lemont Facade Improvement Grant Program for Downtown T.I.F. District" and "Low Interest Loan Program for Downtown T.I.F. District" is hereby approved. SECTION 2: The Facade Improvement Grant Program and the Low Interest Loan Program applications and supporting documents which are attached to this Ordinance are hereby approved. SECTION 3: The Mayor and Clerk for the Village of Lemont are hereby authorized to execute any and all documents necessary to effectuate and implement the Improvement Program and to expend the Village funds from the T.I.F. account consistent with the terms of this ordinance. SECTION 4: This ordinance shall be in full force and effect from and after its passage, approval and publication in the manner provided by law. SECTION 5: All Ordinances or parts of Ordinances in conflict herewith shall be and the same are hereby repealed. SECTION 6: The Village Clerk of the Village of Lemont shall certify to the adoption of this Ordinance and cause the same to be published in pamphlet form. PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF LEMONT, COUNTIES OF COOK, WILL AND DUPAGE, ILLINOIS, on this o o _ day of I� , 1995. Barbara Buschman Alice Chin Keith Latz Connie Markiewicz Richard G. Rimbo Ralph Schobert Approved by me this AYES NAYS PASSED ABSENT. tI v CHARLENE SMOLLEN, Village Clerk 1995. CHARD KWASNESKI, Village President CHARLENE SMOLLEN, Village Clerk GRANT PROCEDURE Applicant obtains Village Facade Grant eligibility requirements and sample agreement. Applicant obtains architect and/or con- tractor. Applicant completes Village Facade Grant Application. Village reviews project components and determines if project is eligible. Written agreement and lien documents are approved and recorded. Applicant submits completed project to Village for review of expenses. Reimbursement is made following completion of the project, and Village review of project expenses. The Village holds the right to reject any and all projects. Alt projects are subject to funding availability. For further information: Downtown Program Village of Lemont 418 Main Street Lemont, IL 60439 (708) 257 -6440 This program is sponsored by the Vil- lage of Lemont and is funded through property tax generated in the Tax incre- ment Finance District. VILLAGE OF LEMONT FACADE IMPROVEMENT GRANT PROGRAM FOR DOWNTOWN TIF DISTRICT GRANT MISSION This program encourages facade im- )rovements and the. historic preservation if store fronts in the Downtown Tax increment Finance (TIF) District. Vil- lage will reimburse applicant 50% or for maximum of $1,000 for architect fees znd $5,000 for construction costs. ELIGIBLE PARTICIPANTS Property and/or business owners located within Lemont's Downtown TI).: Dis- trict. If you are unsure if your property is located within the TIF District, please contact the Downtown Program Man- ager. ELIGIBLE IMPROVEMENTS Exit Doors (exterior) - installation, repair and replacement of exit doors and hardware Shutters and Awnings /Canopies - repair, replacement or addition of exte- rior shutters and awnings /canopies Signs - repair, placement or purchase (When done as part of an overall facade improvement) Stairs / Porches / Railings [Exits - repair and replacement or installation of exterior stairs, porches, railings and exit facilities Walls - repair and rebuilding of exterior walls, including cleaning, sealing, tuck pointing and painting Windows - repair of frames, ing, replacement of glass and tion oC new windows All eligible project improvemi ments must abut a public stre( lot or private lot used for custt parking. f (.) r penses incurred prior to Facade Program )roval INELIGIBLE IMPROVEMENTS Residential structures (except 2nd story above store fronts) Extermination of insects, rodents, vermin and other pests Title reports and legal fees Acquisition of land or buildings Air conditioning and heating facilities Electrical wiring or service upgrade, except for spot light wiring for signage Elevator repair or installation Interior floor, ceiling, or wall replacement and repair Improvements that do not comply with Village Building Codes Construction that does not meet Secretary of Interior's "Standards for Rehabilitation and idelines for Rehabilitating Historic Build- ;s". This requirement can be relaxed if ilding is not historically significant accord- ; to I -TABS /HAER (o Project Address(es): Building. Owner: Store /Company Name: Name of Tenant: Applicant Name: File Number: VILLAGE OF LEMONT FACADE IIYIPROYEMENT GRANT PROGRAM APPLICATION Year Purchased: Lease Expiration Date: Applicant Name: Applicant Business Address: Applicant Business Phone: Home Phone: Applicant(s): Building Owner: Tenant: Number of Store Fronts: Total Anticipated Budget: $ Total Anticipated Grant Request: $ Description of Proposed Improvements:* * Attach elevations of proposed improvements (if available) Applicant Name: File Number: PICTURE OF STORE FRONT: 8 1/2" X 10" PHOTO Applicant Name: File Number: BUDGET (anticipated) ACTIVITY ESTIMATED COST Total Anticipated Grant Request: $ Architect for the Project: Name: Address: Phone: Contractor for the Project: Name: Address: Phone: Application will be reviewed by the Downtown Program Manager, Building Department, and Community Development Director. Applicant Name: File Number: I , hereby make application to the Village of Lemont for a Facade Improvement Grant Program in the anticipated amount of $ . 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 Facade Improvements Grant Program Agreement and lien provisions. If approved, I understand that all work performed is subject to development, building, permit, and agreement provisions. Applicant Signature Date Building Owner Date Please return the completed application to: Downtown Program Manager Village of Lemont 418 Main Street Lemont, IL 60439 If you need assistance with the application and/or have general inquiries, please contact the Downtown Program Manager at (708) 257 -6440. VILLAGE OF LEMONT FACADE IMPROVEMENT GRANT 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, to wit: Owner's/Lessee's Name: Name of Business: Address: City: State: Zip Code: WITNES SETH Whereas, the VILLAGE has established a Facade Improvement Grant Program for application within certain designated commercial rehabilitation areas of the VIT.T,AGE known as the Tax Increment Financing District; and Whereas, said Facade Improvement Grant 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 Facade Improvements to commercial establishments within the District up to a maximum of one -half (1/2) of the approved contract cost of such improvement but in no event shall the total Village participation exceed Five Thousand Dollars (55,000.00) for construction cost and One Thousand Dollars (S1,000) for architect fees; 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 Facade Improvement Grant Program pursuant to the terms and provisions of this agreement. NOW, THEREFORE, in consideration of the mutual covenants and agreement obtained herein, the VILLAGE and OWNER/LESSEE do hereby agree as follows: SECTION 1: The VILLAGE shall share in the facade improvement cost and architect fee cost for the OWNER's/LESSEE's property up to fifty percent (50 %), up to a maximum amount not exceeding S5,000 for construction cost and $1,000 for architect fees. The actual amount per this agreement shall not exceed S for construction 2 cost and S for architect fees. The facade improvement/historic preservation 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 desizi drawings and specifications are attached hereto as Exhibit IV. SECTION 2: No facade improvement or historic preservation work shall be undertaken until the design therefore has been submitted to and approved by the Building Department. Following approval, the OWNER/LESSEE 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 3: The Downtown Program Manager shall periodically review the progress of the contractor's work on the facade improvement and historic preservation 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. 3 SECTION 4: Upon completion of the facade improvement/historic preservation 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 and architect fee statement showing the full cost of the work as well as each separate 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 of the contract cost pursuant to the contractor's and architect's statements. The VILLAGE shall, within thirty (30) days of receipt of the contractor's statement and proof of payment issue a check to the OWNER/LESSEE in payment of: one -half of the approved cost or Five Thousand Dollars ($5,000.00) whichever is less for construction cost; and one -half of the approved cost or One Thousand Dollars (SI,000) which is less for architect fees. In no case shall the amount paid to the OWNER/LESSEE exceed the amount specified in this Agreement or in the contractor's or architect's statements. At the time of reimbursement and throughout the term of this agreement, the land use and signage under the control of the OWNER/LESSEE shall be in conformance with zoning and sign code provisions. SECTION 5: If the OWNER/LESSEE or his contractor fail to complete the facade improvement/historic preservation work provided for herein in conformity with the plans, specifications and all terms of this Agreement, the Agreement shall terminate and the financial obligation on the part of the VILLAGE shall cease and become null and void. 4 SECTION 6: Upon completion of the facade 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 facade improvement/historic preservation 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 OWN.ERJLESSEE shall not enter into any Agreement or contract or take any other steps to alter, change or remove such facade, or the approved design thereof, nor shall OWNER/LESSEE undertake any other changes, by contract or otherwise, to the improvement provided for in this Agreement unless such changes are first submitted to the Downtown Program Manager, and any additional review body or commission designated by the Manager, for approval; which approval shall not be unreasonably withheld if the proposed changes do not substantially alter the original design concept of the facade as specified in the drawings and plans approved pursuant to this Agreement. In addition to this section, a lien on the OWNER/LESSEE property shall be filed. SECTION 7: 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 facade improvement provided for in this Agreement. 5 SECTION 8: This Agreement shall be binding upon the VILLAGE OF LEM0NT 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 facade improvement provided for herein. It shall be the responsibility of the OWNER/LESSEE to inform subsequent OWNER(s)/LESSEE(s) of Section 6 of this Agreement. SECTION 9. 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 10. 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 the construction and development activities contemplated hereunder, the owners agree to defend and hold harmless the Village, the mayor, trustees, oEcers 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 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, 6 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 11. 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 12: It is agreed that Exhibits I through VII shall be considered part of this agreement. Pit WITNESS THEREOF, the parties hereto have executed this Agreement on the date first appearing above. OWNERS/ZESSEE VILLAGE OF LEMONT Program Participant • illage resident DATE: DATE: ATTEST Property Owner DATE: DATE: 8 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 W ARCHITECT'S AGREEMENT EXHIBIT VII SAMPLE LIEN 9 AGREEMENT CREATING LIEN ON REAL ESTATE The undersigned, , owner(s) of , Lemont, Illinois, having applied for Facade Improvement & Historic Preservation 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 (S ) 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 , 1995. STATE OF ILLIi OOIS } } SS: COUNTY OF COOK } I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CER11FY 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 PROGRAM PROCEDURE Applicant obtains Village's Low Interest Loan Program eligibility requirements and sample agreement. Applicant retains architect, engineer, and/or contractor. Applicant completes Low Interest Loan Program Application. Applicant seeks and obtains loan from a lending institution. Applicant and lending institution reports loan to Village. Written agreement and lien documents are approved and recorded. After approval, Village will purchase up to 4 points or 1 interest percentage point, not to exceed $10,000. Applicant submits completed project to Village for review of expenses. Village holds the right to reject any and all projects. All projects are subject to funding availability. For father information: Downtown Program Village of Lemont 418 Main Street Lemont, IL 60439 (708) 257 -6440 This program is sponsored by the Vil- lage of Lemont and is fended through property tax generated in the Downtown Tax increment finance District. VILLAGE OF LEMONT LOW INTEREST LOAN PROGRAM FOR. DOWNTOWN TIF DISTRICT PROGRAM MISSION his program encourages interior build - ig renovations, building additions, and ew construction within the Lemont's ax Increment Finance (TIF) District. b lower the interest expense of prop - rty and business owners, the Village rill purchase 4 points or 1 interest ercentage point, not to exceed $10,000. ,LIGIBLE PARTICIPANTS roperty and/or business owners located rithin Lemont's Downtown TIF Dis- ict. If you are unsure if your property located within the TIF District, please intact the Downtown Program Man - ;er. PARTICIPATING BANKS oans must be obtained from the fol- mwing lending institutions: emont. Banking Center emont National Bank • [BD Lemont Branch ELIGIBLE IMPROVEMENTS Commercial Building Additions New Commercial or Mixed -Use Con- struction Commercial Code Compliance Renova- tions Permanent Commercial Site Exterior Improvements Permanent Commercial Interior Remod- eling Improvements Compliance with Americans With Dis- abilities Act for Commercial Properties r INELIGIBLE IMPROVEMENTS Residential Only Construction Real Estate Purchase Furnishings and Equipment Purchase Working Capital Inventory Financing Accounts and Receivable Financing Construction that does not meet Secre- tary of the Interior's "Standards for Rehabilitation and Guidelines for Reha- bilitating I- Iistoric Buildings ". This requirement can be relaxed if building is not historically significant according to HABS /HAER. Expenses incurred prior to loan program approval Applicant Name: File Number: VILLAGE OF LEMONT LOW DNTEREST LOAN PROGRAM APPLICATION Project Address(es): Building Owner: Store /Company Name: Name of Tenant: Lease Expiration Date: Year Purchased: Applicant Name: Applicant Business Address: Applicant Business Phone: Home Phone: Applicant(s): Building Owner: Tenant: Total Square footage: Total Anticipated Budget: $ Total Anticipated Loan Amount: $ Description of Proposed Improvements: * * Attach elevations of proposed improvements (if available) Applicant Name: File Number: PICTURES OF PROPERTY (INTERIOR AND EXTERIOR): Applicant Name: File Number: BUDGET (anticipated) ACTIVITY ESTIMATED COST Total Anticipated Loan: $ Architect for the Project: Engineer for the Project: Name: Name: Address: Address: City, St, Zip: City, St, Zip: Phone: Phone: Contractor for the Project: Proposed Lending Institution: Name: Name: Address: Address: City, St, Zip: City, St, Zip: Phone: Phone: Loans must be obtained from Lemont Banking Center, Lemont National Bank or NBD Lemont Branch. Application will be reviewed by the Downtown Program Manager, Building Department, and Community Development Director. Applicant Name: File Number: hereby make application to the Village of Lemont for participation in the Low Interest Loan Program in the anticipated amount of $ for the purchase of 4 interest points, not to exceed 510,000. 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. Applicant Signature Date Building Owner Date Please return the completed application to: Downtown Program Manager Village of Lemont 418 Main Street Lemont, IL 60439 If you need assistance with the application and/or have general inquiries, please contact the Downtown Program Manager at (708) 257 -6440. VILLAGE OF LEMONT LO I'\ 1 EKES 1 LOAN PROGRAM AGREEMENT THIS AGREEMENT, entered into this day of , 19 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: Name of Business: Address: City: State: Zip Code: Lending Institution: Address: City: State: Zip Code: WITNESSETH 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 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 points up to a maximum of four (4) points, 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. 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: 2 SECTION 1: The VILLAGE shall share in the loan interest cost for the OWNER's/LESSEE's property improvement up to four (4) points, not to exceed Ten Thousand Dollars. The actual amount per this agreement shall not exceed S for purchase of 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. SECTION 2: 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, not to exceed Ten Thousand (310,000) for the purchase of loan points. In no case shall the amount paid to the LENDING INSTITUTION exceed the amount specified in this Agreement. SECTION 3: 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 OWNER/LESSEE shall contract for the work and shall commence and complete all such work within ( ) days from the date of such approval. SECTION 4: The Downtown Program Manager 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: 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 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: 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 4 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: 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 contract or otherwise, to the improvement provided for in this Agreement unless such changes are first submitted to the Downtown Program Manager, and any additional review body or commission designated by the Manager, 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. In addition to this section, a lien on the OWNER/LESSEE property shall be filed. SECTION 8: 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. 5 SECTION 9: 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. It shall be the responsibility of the OWNER/LESSEE to inform subsequent OWNER(s)/LESSEE(s) of Section 6 of this Agreement. SECTION 10. 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 11. 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 the construction and 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 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 6 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 11. 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 12: It is agreed that Exhibits I through VII shall be considered part of this agreement. 7 IN WITNESS THEREOF, the parties hereto have executed this Agreement on the date first appearing above. OWNERS/LESSEE VILLAGE OF LEMONT Program Participant DATE: DATE: Property Owner DATE: DATE: LENDENG INSTITUTION Lending Institution Representative DATE: 8 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 • AGREEMENT CREATING LIEN ON REAL ESTATE The undersigned, , owner(s) of , Lemont, Illinois, having applied for Low Interest Loan 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 (S ) 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 property 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 , 1995. 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 helshe /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