R-35-11 Res Releasing 2 Letters of Credit for Krystyna CrossingRESOLUTION NO.J�
A RESOLUTION RELEASING TWO LETTERS OF CREDIT ESTABLISHED FOR THE
KRYSTYNA CROSSING SUBDIVISION
WHEREAS, pursuant to the Lemont Unified Development Ordinance, an owner or developer
of a subdivision is required to file with the Village a letter of credit or other performance assurance to
guarantee satisfactory completion of certain site improvements; and
WHEREAS, in the matter of the Krystyna Crossing subdivision located at 15002 -70 127th
Street, two Irrevocable Standby Letters of Credit, numbers 12052 and 12053, were established by
Standard Bank & Trust Company to guarantee satisfactory completion of the certain site improvements;
and
WHEREAS, on April 30th Standard Bank sold the Krystyna Crossing subdivision to Castletown
Homes, Inc., and prior to the closing Castletown Homes, Inc. had filed a new letter of credit with the
Village to guarantee satisfactory completion of certain site improvements;
NOW, THEREFORE BE IT RESOLVED by the President and Board of Trustees of the
Village of Lemont, that Standard Bank & Trust Co. Letters of Credit 12052 and 12053 are 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 9th day of May, 2011.
Debby Blatzer
Paul Chialdikas
Clifford Miklos
Ron Stapleton
Rick Sniegowski
Jeanette Virgilio
AYES NAYS PASSED ABSENT
Approved by me this 9th day of May, 2011
RIAN K. REAV
S, illage President
ATTEST:
NE M. SMOLLEN, Village Clerk