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O-00-31ORDINANCE NO. 0 -00- 31 AN ORDINANCE AUTHORIZING AN AMENDMENT TO SPECIAL USE - 770 LAKE COOK ROAD Published in pamphlet form this 5th day of Septembep2000 by the President and Board of Trustees of Deerfield. JKS 281033 v September 13, 2000 ORDINANCE NO. 0-00- 31 AN ORDINANCE AUTHORIZING AN AMENDMENT TO SPECIAL USE - 770 LAKE COOK ROAD WHEREAS, the Plan Commission of the Village of Deerfield has heretofore held a public hearing on the application of LaSalle National Bank as Trustee under Trust No. 104882, dated August 17, 1982, and Flodstrom Construction Corporation (collectively, the "Applicant ") for an Amendment to a Special Use for a Planned Unit Development of certain property (hereinafter the "Subject Property ") located within the Village in the I -1 Office, Research, Restricted Industry District and to authorize the development and use of the Subject Property legally described on Exhibit A attached hereto as a Special Use Planned Unit Development, under and pursuant to the provisions of Articles 6.01 -C,5, 12.00, 12.08, 12.09 and 13.04 for an office building as hereinafter more particularly described on the Subject Property; and WHEREAS, said hearing was held pursuant to duly published notice thereof and was in all respects, held according to law; and WHEREAS, following consideration of the recommendations of the Plan Commission and the Preliminary Development Plan by the President and Board of Trustees, the President and Board of Trustees have considered and reviewed the submitted Proposed Site Plan and Building Elevations, dated June 23, 2000, prepared by Partners in Design, Architects, and the Landscape Plan, dated June 5, 2000, prepared by Pugsley & Lahaie Ltd. (collectively, the "Final Development Plan"); and WHEREAS, the corporate authorities have reviewed the form and substance of a Development Agreement for the Subject Property between the Village of Deerfield and the Applicant, which Development Agreement is attached hereto as Exhibit C and made a part hereof; and WHEREAS, the President and Board of Trustees of the Village of Deerfield have determined that the best interests of the Village will be served by the authorization and granting of said Amendment to Special Use Planned Unit Development for the Subject Property in accordance with the Final Development Plan for the Subject Property marked Exhibit B and attached hereto and made a part hereof, and by the further finding that the. Final Development Plan is in substantial conformance with the previously approved Preliminary Development Plan. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS AS FOLLOWS: 1KS 281033 v1 September 13, 2000 ORDINANCE NO. O -00= 31 AN ORDINANCE AUTHORIZING AN AMENDMENT TO SPECIAL USE - 770 LAKE COOK ROAD SECTION That the President and Board of Trustees do hereby affirmatively find (1) that ONE: the Amendment to Special Use as hereby authorized, fully complies with the requirements and standards set forth in Articles 6.01 -C,5, 12.00, 12.08, 12.09 and 13.04 of the Village Zoning Ordinance, and the Amendment to Special Use of the real estate, as and for purposes of the development of an office building as set forth on Exhibit B subject to certain conditions as more particularly set forth below, and (2) that the Final Development Plan is in substantial conformance with the previously approved Preliminary Development Plan and that, therefore, said Amendment to Special use shall be and the same is hereby authorized and approved subject to the conditions hereinafter set forth in Section Three. SECTION That the Applicant's request for the following variations and modifications TWO: as shown on the Final Development Plan are hereby authorized and approved: (i) a front yard setback of 76 feet, 6 inches in lieu of the required 100 feet; (ii) 156 parking spaces in lieu of the 161 required; (iii) parking spaces 18 feet 6 inches in length in lieu of the required 19 feet; and (iv) a ground sign may be located in the required 100 foot front yard setback. SECTION That the approval and authorization of said Amendment to Special Use is THREE: hereby granted subject to the requirements that all use, construction and development shall be in accordance with, in addition to the submitted Final Development Plan, all documentary and exhibit filings made pursuant to Planned Unit Development Procedures as set forth in Article 12.09 of the Village Zoning Ordinance, the terms of this Ordinance, the terms of the Development Agreement, all representations submitted and made by the Applicant to the Plan Commission and President and Board of Trustees, and is also subject to compliance by Applicant with all other applicable provisions of the Village Zoning Ordinance. SECTION That the Amendment to Special Use hereby authorized shall be binding upon FOUR: and inure to the benefit of Applicant's successors, grantees, transferees and assigns and any violation of the conditions hereinabove set forth by the Applicant or its successors, grantees, transferees or assigns shall authorize the revocation of the Amendment to Special Use hereby authorized. JKS 281033 v September 13, 2000 2 ORDINANCE NO. 0 -00- 31 AN ORDINANCE AUTHORIZING AN AMENDMENT TO SPECIAL USE - 770 LAKE COOK ROAD SECTION That the Village Clerk is hereby directed to publish this Ordinance in FIVE: pamphlet form and to record said Ordinance and that portion of Exhibit B known as the "Final Development Plan" in the office of the Recorder of Deeds of Lake County, Illinois at Applicant's expense. SECTION That this Ordinance shall be in full force and effect from and after its SIX: passage, approval and publication as provided by law. AYES: Harris, Ragona, Rosenthal, Seiden, Swanson (5) NAYS: Heuberger (1) ABSENT: None (0 ) PASSED: This 5th day of September A.D., 2000. APPROVED: This 5th day of September A.D., 2000. V/LrAGE PRESIDE A% VIL. AGE CLERK 1KS 281033 v September 13, 2000 3 DEVELOPMENT AGREEMENT This Development Agreement ( "Agreement ") entered into as of this 5th day of September, 2000 by and among FLODSTROM CONSTRUCTION CORPORATION, an Illinois corporation (the "Developer "), FLODSTROM INVESTMENTS, L.L.C., an Illinois limited liability company ( "Owner ") and the VILLAGE OF DEERFIELD, an Illinois municipal corporation (the "Village "). Recitals: WHEREAS, the Owner holds beneficial title to certain property located within the Village legally described on Exhibit A attached hereto and made a part hereof (the "Subject Property ") which is included in an area of the Village comprising the Lake - Cook Road Tax Increment Financing District (the "TIF District ") created pursuant to the provisions of 65 ILCS S /11 -74.4, et seq., as amended (the "Act "); and WHEREAS, in accordance with the terms and provisions of the Act, the Village seeks to achieve the redevelopment and improvement of properties included in the TIF District and has accumulated revenues to assist in the implementing and realization of these objectives (the "TIF Funds "); and WHEREAS, the Owner and Developer have petitioned the Village for certain relief consisting of a request for TIF Funds, along with requested exceptions to various standards contained in said District, to facilitate the development of the Subject Property in a manner consistent with the objectives of the TIF District; and WHEREAS, the Corporate Authorities of the Village have received and approved the favorable recommendation of the Village Plan Commission relating to the development plan submitted by the Owner and Developer for the Subject Property; and WHEREAS, in connection with said development plan, the Corporate Authorities of the Village have received the favorable report and recommendation of the Village Plan Commission as to the Preliminary Development Plan submitted by the Owner and Developer; and WHEREAS, the corporate Authorities of the Village have determined that the proposed development of the Subject Property legally described on Exhibit A, and as set forth in the immediately preceding recitals, and as further amended by the Owner and Developer following its submission to the Corporate Authorities is consistent with the goals and objectives of the TIF District, specifically, the completion of the remaining undeveloped portion of the area commonly known as the "Brickyard "; and WHEREAS, the Village has TIF Funds available to assist and implement the development of the Subject Property in accordance with the proposals presented by the Owner and Developer to the Village Plan Commission and to the Corporate Authorities; and WHEREAS, the Developer has submitted plans, schedules, specifications and other documents comprising its "Final Development Plan ", as defined in the Village Zoning Ordinance and the Final Development Plan has been submitted to, reviewed by,. and recommended for approval by the Village Plan Commission; and WHEREAS, the President and Board of Trustees have reviewed the Final Development Plan and have adopted all necessary ordinances, passed all necessary motions, and otherwise granted all necessary approvals: (i) granting the requested TIF Funds and exceptions to various standards contained in said District; (ii) approving the Developer's Final Development Plan; and (iii) granting the variations from the Development Code as described hereinbelow. A listing of the authorizing ordinances and other approval measures is attached hereto as Exhibit B; and WHEREAS, the Village has heretofore adopted a "Village of Deerfield Development Code" ( "Development Code ") by Ordinance No. 93 -53. Among other things, the Development Code calls for the Village and the Developer to enter into a "Development Agreement" relative to the development of the Subject Property; and WHEREAS, in accordance with Article III of the Development Code, this Agreement has been reviewed by the Director of Community Development, the Village Engineer, and the Village Plan Commission, all of whom have made recommendations to the President and Board of Trustees; and WHEREAS, the parties now desire to enter into this Agreement, pursuant to the applicable provisions of the Development Code, for the purposes set forth in the Development Code and to reach the goals and objectives of the TIF District. NOW, THEREFORE, it is hereby agreed by and between the parties hereto, as follows: 1. Incorporation of Recitals. The recitals set forth are incorporated herein as if fully set forth. 2. Identification of Final Development Plan. For purposes of this Agreement, the "Final Development Plan" shall consist of the Final Development Plan submitted by the Developer, and identified in, and approved by the President and Board of Trustees, pursuant to Ordinance No. 0 -00 -31 For identification purposes, a schedule of the documents comprising the Final Development Plan is appended hereto as Exhibit C and made a part hereof. 3. Final Improvement Plan Approved. In accordance with Section 3 -101 -B of the Development Code, the Developer has provided the Village Engineer and Director of Community Development with copies of its Final Improvement Plan as a part of its Final Development Plan. The term "Final Improvement Plan" when used herein shall include only those documents and/or plans or those specific parts of documents and/or 2 plans listed in Exhibit C that depict public or private improvements as they are defined and specifically identified hereafter. The Village Engineer and Director of Community Development have reviewed said Final Improvement Plan and they have provided the Plan Commission and President and Board of Trustees with a letter indicating their recommendations regarding the Final Improvement Plan. The Village Engineer has provided the Plan Commission and President and Board of Trustees with a letter indicting receipt and approval of all of the appropriate final engineering plans and verifying that the documents granting any required easements are satisfactory for the purposes for which they are required and approved. Said final engineering plans are identified as a part of Exhibit C. 4. Site Development Schedule. In accordance with Section 3- 102- B(4)(a) of the Development Code, the development of Lot 4 will proceed substantially in accordance with the schedule attached hereto as Exhibit D and made a part hereof. The parties recognize and acknowledge that this development schedule is subject to variables relating to weather, strikes, work stoppages, acts of God and other matters outside of the reasonable control of the Developer, its contractors and subcontractors, or anyone performing Developer's obligations under Paragraph 13 hereof. 5. Improvement Plan. Pursuant to Section 3- 102- B(4)(b) of the Development Code, all improvements, both public and private, are located and depicted on the Final Improvement Plan identified hereinabove. 6. Approved Conditions, Requirements and Variations. Pursuant to Section 3- 102- B(4)(d) of the Development Code, the conditions, requirements and variations as contemplated by the authorizing ordinances and approval measures listed on Exhibit B hereto set forth all of the conditions, requirements and variations necessary to construct the public and private improvements described in the Final Development Plan, with the additional special conditions relating to certain portions of the private foundation work to be performed by Developer. 7. Performance Guaranty and Inspection. Attached hereto as Exhibit F and made a part hereof is a form satisfactory to the Village of a Performance Guaranty ( "Guaranty ") with respect to those Exhibit E improvements. The actual Guaranty must be submitted to the Village prior to any disbursement of TIF Funds. The aggregate amount of the Guaranty shall be equal to the Exhibit E total cost estimate, reduced by (net of) TIF Funds for such purposes. Pursuant to Section 4 -106 of the Development Code, the parties have jointly designated the firm of Charles W. Greengard Associates, Inc. as the registered professional engineering firm designated as the "Inspecting Engineer" in order to ensure that the development complies with the approved Final Improvement Plan, the Village Standards and Specifications Manual and this Agreement. The Inspecting Engineer shall invoice the Village for services rendered and the Village shall pay said invoices from the TIF Funds described in paragraph 8. The Village Engineer, within thirty (30) days from the date of such request, will either approve requests from time to time for reduction in the Guaranty upon completion by the Developer of those items described herein to be constructed by Developer or shall 3 provide the Developer, in writing, with a complete listing of reasons why such reduction may not be granted and the specific corrections necessary to conform with the approved Final Improvement Plan in order to approve the requested reduction. The Board of Trustees by motion or resolution shall approve the release or reduction of the Guaranty upon the advice of the Village Engineer. 8. Payment of TIF Funds. A. The Village will provide a maximum aggregate of $430,243.00 [including $80,867.00 from the TIF request of 6/20/00], including any funds paid to the Inspecting Engineer as provided in Paragraph 7 hereof, of TIF Funds allocated as set forth below to assist the Owner and Developer in the completion of certain specific on -site improvements to the Subject Property as particularly identified in Exhibit E, including foundation and piling work. Of the foregoing amount, a sum not to exceed $52,657.00 shall be allocated to grading work and utility installation, and the remaining balance of $296,719.00 shall be available for foundation work. B. The parties agree that the foundation costs set forth on Exhibit E hereto refer to several different aspects of Developer's work, such as excavating, piling, pond re- structuring (including de- watering), concrete work (grade beams, first floor pre -cast slab -- including topping, pile caps, etc.), methane gas prevention work, etc., all related to the extraordinary costs incurred by Developer as a result of the unusual landfill conditions at the site. C. The Developer shall have the right to install its foundation, and shall have the right to apply to the Village for reimbursement of such foundation costs up to the remaining amount of TIF Funds allocated to the Subject Property. 9. Funding of Improvements. The Owner and Developer have submitted to the Village, and the Village hereby approves specific funding commitments, for identified improvements to the Subject Property as specifically set forth on the schedule attached as Exhibit E hereto and made a part hereof. 10. Disbursement Procedures. TIF Funds shall be disbursed by the Village only for the specific improvements and not in excess of the amounts set forth on Exhibit E and in accordance with paragraph 8 hereof. Prior to any disbursement of TIF Funds for any specific improvement, the Owner and Developer shall submit to the Village such documentation as the Village may require to assure the Village that the particular improvement has been fully and satisfactorily completed. The submission will include, but is not limited to, all appropriate contractor and/or subcontractor lien waivers for the work performed and material supplied for the specific improvement. Upon receipt of appropriate documentation, there shall be monthly payments from TIF Funds from the Village, to Developer [or, where appropriate, to Developer and subcontractor jointly] for work performed on those items listed on Exhibit E. rd 11. Agreements with Contractors. Prior to the inception of any work for any specific item listed on Exhibit E, the Owner and Developer shall furnish the Village with the proposed form of agreement prior to its execution with any contractor or subcontractor intending to perform work on the Subject Property detailing the work to be performed, the parties performing the work and the contract price. The Village shall have the right to approve any such agreement involving the disbursement of TIF Funds. 12. Reciprocal Agreements. Prior to any disbursement of any TIF Funds, the Owner and Developer will prepare and submit for the review and approval of the Village and its legal counsel the agreement of the Owner, running with the land and binding upon successors, grantees and assigns, providing for access to all areas of Lot 4 13. Default. In the event that the Owner shall not complete the development in accordance with the specific development plan for the Subject Property, the Village's obligation to expend unused portions of the TIF Funds shall immediately terminate at such time, and at the Village's sole election the Village may undertake control of any utilities installed upon or within the Subject Property. Notwithstanding the foregoing, the Village agrees to notify in writing Owner, Developer and any grantees from Owner as to the nature of the default and provide a thirty (30) day cure period within which any one or more of the parties receiving said notice may cure said default or demonstrate to the satisfaction of the Village its ability to do so in a timely manner in which case this Agreement will continue to be performed in accordance with its terms. 14. Pond Maintenance: Owner acknowledges and agrees that maintenance of the Pond, situated in the southerly portion of Lot 4 in the Deerpark Business Centre Resubdivision (being a portion of the Subject Property), shall be the sole obligation of the Owner ( "Owner" for purposes of this paragraph 14 being Owner and successor owners from time -to -time) of the Subject Property. This obligation for maintenance of the Pond shall run with the land, and shall inure to the benefit of, and be enforceable by, the Village of Deerfield. With respect to same: A. At all times, said Owner shall maintain, in full force and effect, a policy of general liability insurance, in an amount not less than $1,000,000.00, naming the Village as additional insured thereon, entitled to notice in the event of non - payment or cancellation of said policy. B. In the event said Owner fails to provide requisite liability insurance, and/or fails to maintain the Pond, the Village -- after written notice to said Owner and failure of said Owner to reasonably cure -- may (but shall not be obligated) to undertake same and, if the Village so undertakes, the Village shall be entitled to a lien on the Subject Property for its costs in said regard. 5 C. From time -to -time, upon said Owner's request, the Village will furnish to said Owner, Owner's lender or title company, a customary estoppel letter to confirm whether or not the Village has or claims a lien as of that time [and, if so, the amount thereofJ. 15. Compliance with Other Rules and Regulations. Except as specifically provided herein, the development of the Subject Property shall proceed in accordance with the ordinances described hereinabove and with applicable provisions of the Municipal Code of the Village of Deerfield of 1975. 16. Successors. Assigns and Grantees. This Agreement shall be binding upon the parties, their respective successors, assigns and grantees. 17. Remedies. Upon breach of this Agreement, any party in a court of competent jurisdiction may obtain all appropriate relief, including but not limited to specific performance, injunction or damages. Notwithstanding the foregoing, before the failure of any party to perform its obligation under this Agreement may be considered a breach, the party claiming such failure shall notify, in writing, the party alleged to have failed to perform, and shall demand performance. No breach may be found to have occurred if performance has commenced to the reasonable satisfaction of the complaining party within thirty (30) days of receipt of such notice. 18. Captions. The captions herein are inserted for the convenience of the parties and are not to be construed as an integral part of the Agreement. 19. Governing Law. This Agreement shall be governed by and construed in accordance with Illinois law. 20. Authori1y. The parties warrant and represent that they have the power and authority to enter into this Agreement in the names, titles and capacities herein stated. 21. Notices. All notices, elections and other communications between the parties hereto shall be in writing and shall be mailed by certified mail, return receipt requested, postage prepaid or delivered personally to the parties at the following addresses, or to such other addresses as the parties by "notice" shall designate: If to the Village: Village of Deerfield 850 Waukegan Road Deerfield, Illinois 60015 Attn: Village Manager with a copy to: Pedersen & Houpt 161 N. Clark Street Suite 3100 Chicago, Illinois 60601 Attn: James K. Stucko 3i If to the Developer: Flodstrom Construction Corporation 770 Lake Cook Road Deerfield, Illinois 60015 Attn: Sven Flodstrom with a copy to: Felbinger & Felbinger 1314 Shermer Road Suite 100 Northbrook, Illinois 60062 Attn: Karl L. Felbinger If to the Owner: Floodstrom Investments, L.L.C. c/o Sven Flodstrom Managing Partner 770 Lake -Cook Road Deerfield, Illinois 60015 22. Severability. If any provision, covenant, agreement or portion of this Agreement is held invalid, such invalidity shall not affect the application or validity of such other provisions, covenants or portions of this Agreement. 23. Entire Agreement. This Agreement supersedes any prior agreements, negotiations and exhibits and is a full integration of the entire agreement of the parties. The Exhibits to this Agreement are expressly incorporated herein. 24. Counterparts and Duplicate Originals. This Agreement may be executed in any number of counterparts and duplicate originals, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. f, 7 IN WITNESS WHEREOF, the parties hereto have set their hands and seals as of the day and year first above written. FLODSTROM CONSTRUCTION CORPORATION L Sven G. Flodstrom, President FLODSTROM INVESTMENTS, L.L.C. Sven G. Flodstrom, Managing Partner SUBSCRIBED & SWORN TO before me this day by Sven G. Flodstrom, as President of Flodstrom Construction Corporation (the "Corporation "), and Managing Partner of Flodstrom Investments, L.L.C. (the "LLC "), as the free, voluntary and duly authorized act of the Corporation and of the LLC. October b;., 2000 / Cfi4[- oGjW . Notary Public VILLAGE OF DEERFIELD Q 14 d� it�ntFlt�IN BY: _ter i *04xjot ATTEST: �J t% . ♦ . l ` -Village Clerk SUBSCRIBED & SWORN TO before me this day by &AoftRO aAAF_s7— , as /h/ryo,,e.. , and g0jR r Ji_ 6k,#A11_' , as V;Ll-ncr CLEW of the Village of Deerfield (the "Village "), as the free, voluntary and duly authorized act of the Village. October LI-, 2000 A/L 'A /_ SIMAoA) k. CROm;F, Notary Public Prepared by: Karl L. Felbinger 1314 Shermer Road, Suite 100 Northbrook, IL. 60062 8 "OFFICIAL SEAL' *DD L CWwb P+iiV, Sogeatmii A 33, SCHEDULE OF EXHIBITS Exhibit A Legal Description of Subject Property Exhibit B Enumeration of Authorizing Ordinances and Related Approval Measures Exhibit C Schedule of Documents Comprising Final Development Plan Exhibit D Site Development Schedule Exhibit E Description of Improvements to be Constructed by Developer and Allocation of TIF Funding Exhibit F Performance Guaranty 9 EXHIBIT A Legal Description of Subject Property LOT 4 IN THE DEERPARK BUSINSS CENTRE RESUBDIVISIION BEING A RESUBDIVISION OF LOT 2 IN FLODSTROM'S RESUBDIVISION NO. 2, BEING A RESUBDIVISION OF LOT 1 OF FLODSTROM'S SUBDIVISIION OF PART OF THE SOUTHEAST QUARTER OF SECTION 32 AND PART OF THE SOUTHWEST QUARTER OF SECTION 33, TOWNSHIP 43 NORTH, RANGE 12 EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED SEPTEMBER 17, 1997 AS DOCUMENT NUMBER 4020708, IN THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS. D THE WEST 5 FEET OF LOT 2 IN FLODSTROM'S SUBDIVISION, BEING A SUBDIVISION OF PART OF THE SOUTHEAST 1/4 OF SECTION 32 AND THE SOUTHWEST 1/4 OF SECTION 33, TOWNSHIP 43 NORTH, RANGE 12, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED OCTOBER 5, 1982 AS DOCUMENT NUMBER 2179958, IN LAKE COUNTY, ILLINOIS. [to] EXHIBIT B Enumeration of Authorizing Ordinances and Related Approval Measures EXHIBIT C Schedule of Documents Comprising Final Development Plan Plat of Survey of Lot 4 in Deerpark Business Center prepared by Greengard Associates, dated 8/25/00. 2. Final Development Plan prepared by Partners in Design, Sheet A1.1, dated 6/23/00. Landscaping Plan prepared by Pugsley & Lahaie Ltd., dated 8/21/00. 4. Lighting/Photometric Plan prepared by Security Lighting Systems, Inc., dated 5/30/00. Building Elevations prepared by Partners in Design, Sheets A3.1 and A3.2, dated 6/23/00. 6. Approved Engineering Drawings prepared by Greengard Associates, dated 6/16/00 (on file with the Engineering Department, Village of Deerfield). 12 Site and Foundation Development Schedule Foundation work is scheduled to proceed in September, 2000 or immediately after the building permit has been issued. The foundation will be completed this Fall. Work for site utilities are scheduled to commence this Fall. All work will be done late this year or early next year. Some of the site work will be done this Fall but most of the landscaping and the paving work is scheduled for completion in the Spring and Summer, 2001. Final paving surfaces will be installed in the Fall of 2001. 13 EXHIBIT E Description of Improvements to Lot 4 to be Constructed by the Developer Allocation of TIF Funding Grading Work and Utilities (Sanitary, storm and water supported partly on grade beams) Basic estimated cost Other Fees 10% contingencies Subtotal 15% engineering Subtotal 10% construction mgt. Foundation Estimated Costs Normal Unusual $102,120.00 $695,558.00 $37,842.00 3.784.00 41,626.00 6.244.00 47,870.00 4.787.00 $52,657.00 Difference $593,438.00 $593,43812 = Basic Improvements to encourage tenants to overcome inherent problems with this site. Total cost $242,600.00. One third (113) approved from TIF to be paid as a lump sum when superstructure is substantially completed = Total Village TIF Contribution Improvements funded by the Developer One half of the "Difference" in the cost of the foundations due to Site conditions ($296,719.00) $52,657.00 $296,719.00 $ 80.867.00 $430,243.00 PERFORMANCE GUARANTEE, PER EXHIBIT F, ATTACHED, IS TO BE ISSUED IN AN AMOUNT ARRIVED TO AS FOLLOWS: 1. Grading of Utilities per above $ 52,657.00 2. Foundation work: total cost per above 695,558.00 3. Paving per bid proposal 45,750.00 4. Landscaping per bid proposal 34 000.00 $827,965.00 Less TIF (430,243.00) Performance Guarantee $437,722.00 14 EXHIBIT F Performance Guaranty [SEE ATTACHED] 15 FLODSTROM CONSTRUCTION CORPORATION GENERAL CONTRACTORS - CONSTRUCTION MANAGERS 770 LAKE COOK ROAD - DEERFIELD. ILLINOIS 60015 - (847) 498 -0300 - FAX (84T) 498 -9981 EXHIBIT F. August 31, 2000 To the Mayor and Trustee's Village of .Deerfield 850 Waukegan Road Deerfield, Illinois 60015 Re: Development Plan of Deer Park Business Centre, Lot 4. Dear Mayor and Trustee's, This will confirm that we will submit a Performance Guarantee for work on the above property in accordance with paragraph 7 of the Development agreement. Paragraph 7 states that the Guarantee "shall be equal to Exhibit E total cost estimate, reduced by (net of) TIF funds for such purposes." It is understood that 25 % will be added to the above amount in computing the total amount of the Performance Guarantee. This guarantee will either be in the form of a Letter of Credit per Section 4 -104.13 of the Village of Deerfield Development Code or in the form of a Performance Bond per Section 4 -104.3 of the same code. It is also understood that the Performance Guarantee must be submitted prior to any disbursements of funds from the TIF. Since youyo, Sven G. Flodstrom FLODSTROM CONSTRUCTION CORPORATION � 1 , µ t A STATE OF ILLINOIS ) r F 46 3 80 1 8 COUNTIES OF LAKE AND COOK ) SS Filed for Record in: VILLAGE OF DEERFIELD ). LAKE COUNTY )� IL MARY ELLEN VANDERVENTER - RECORDER On Jan 31 2001 At 11:44as Receipt #• 269821 Doc /T pe : ORD Deputy - Cashier #1 The undersigned hereby certifies that he is the duly appointed Village Clerk of the Village of Deerfield, Lake and Cook Counties, Illinois, and that the attached is a true and accurate copy of Ordinance No. 0 -00 -31 entitled "An Ordinance Authorizing an Amendment to Special Use - 770 Lake Cook Road" as appears in the records and files of the office of the Village Clerk. Dated this October 12. 2000 SEAL ROBLRT D. FRAITZ, Village Clerk Submitted by: Village of Deerfield 850 Waukegan Road Deerfield, IL 60015 ORDINANCE NO. 0 -00- 31 AN ORDINANCE AUTHORIZING AN AMENDMENT TO SPECIAL USE - 770 LAKE COOK ROAD Published in pamphlet form this 5th day of Septembep2000 by the President and Board of Trustees of Deerfield. JKS 281033 v September 13, 2000 0 ORDINANCE NO. 0-00- 31 AN ORDINANCE AUTHORIZING AN AMENDMENT TO SPECIAL USE - 770 LAKE COOK ROAD WHEREAS, the Plan Commission of the Village of Deerfield has heretofore held a public hearing on the application of LaSalle National Bank as Trustee under Trust No. 104882, dated August 17, 1982. and Flodstrom Construction Corporation (collectively, the "Applicant ") for an Amendment to a Special Use for a Planned Unit Development of certain property (hereinafter the "Subject Propem? ") located within the Village in the I -1 Office, Research, Restricted Industry District and to authorize the development and use of the Subject Property legally described on Exhibit A attached hereto as a Special Use Planned Unit Development, under and pursuant to the provisions of Articles 6.01 -C,5, 12.00, 12.08, 12.09 and 13.04 for an office building as hereinafter more particularly described on the Subject Property; and WHEREAS, said hearing was held pursuant to duly published notice thereof and was in all respects, held according to law; and WHEREAS, following consideration of the recommendations of the Plan Commission and the Preliminary Development Plan by the President and Board of Trustees, the President and Board of Trustees have considered and reviewed the submitted Proposed Site Plan and Building Elevations, dated June 23, 2000, prepared by Partners in Design, Architects, and the Landscape Plan, dated June 5, 2000, prepared by Pugsley & Lahaie Ltd. (collectively, the "Final Development Plan"); and WHEREAS, the corporate authorities have reviewed the form and substance of a Development Agreement for the Subject Property between the Village of Deerfield and the Applicant, which Development Agreement is attached hereto as Exhibit C and made a part hereof, and WHEREAS, the President and Board of Trustees of the Village of Deerfield have determined that the best interests of the Village will be served by the authorization and granting of said Amendment to Special Use Planned Unit Development for the Subject Property in accordance with the Final Development Plan for the Subject Property marked Exhibit B and attached hereto and made a part hereof, and by the further finding that the . Final Development Plan is in substantial conformance with the previously approved Preliminary Development Plan. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS AS FOLLOWS: JKS 281033 v September 13, 2000 ORDINANCE NO. 0 -00 -3 Y AN ORDINANCE AUTHORIZING AN AMENDMENT TO SPECIAL USE - 770 LAKE COOK ROAD SECTION That the President and Board of Trustees do hereby affirmatively find (1) that ONE: the Amendment to Special Use as hereby authorized, fully complies with the requirements and standards set forth in Articles 6.01 -C,5, 12.00, 12.08, 12.09 and 13.04 of the Village Zoning Ordinance, and the Amendment to Special Use of the real estate, as and for purposes of the development of an office building as set forth on Exhibit B subject to certain conditions as more particularly set forth below, and (2) that the Final Development Plan is in substantial conformance with the previously approved Preliminary Development Plan and that, therefore, said Amendment to Special use shall be and the same is hereby authorized and approved subject to the conditions hereinafter set forth in Section Three. SECTION That the Applicant's request for the following variations and modifications TWO: as shown on the Final Development Plan are hereby authorized and approved: (i) a front yard setback of 7 6 feet, 6 inches in lieu of the required 100 feet; (ii) 156 parking spaces in lieu of the 161 required; (iii) parking spaces 18 feet 6 inches in length in lieu of the required 19 feet; and (iv) a ground sign may be located in the required 100 foot front yard setback. SECTION That the approval and authorization of said Amendment to Special Use is THREE: hereby granted subject to the requirements that all use, construction and development shall be in accordance with, in addition to the submitted Final Development Plan, all documentary and exhibit filings made pursuant to Planned Unit Development Procedures as set forth in Article 12.09 of the Village Zoning Ordinance, the terms of this Ordinance, the terms of the Development Agreement, all representations submitted and made by the Applicant to the Plan Commission and President and Board of Trustees, and is also subject to compliance by Applicant with all other applicable provisions of the Village Zoning Ordinance. SECTION That the Amendment to Special Use hereby authorized shall be binding upon FOUR: and inure to the benefit of Applicant's successors, grantees, transferees and assigns and any violation of the conditions hereinabove set forth by the Applicant or its successors, grantees, transferees or assigns shall authorize the revocation of the Amendment to Special Use hereby authorized. JKS 231033 v September 13, 2000 1) 4Gas0184_ ORDINANCE NO. 0-00- 31 AN ORDINANCE AUTHORIZING AN AMENDMENT TO SPECIAL USE - 770 LAKE COOK ROAD SECTION That the Village Clerk is hereby directed to publish this Ordinance in FIVE: pamphlet form and to record said Ordinance and that portion of Exhibit B known as the "Final Development Plan" in the office of the Recorder of Deeds of Lake County, Illinois at Applicant's expense. SECTION That this Ordinance shall be in full force and effect from and after its SIX: passage, approval and publication as provided by law. AYES: Harris, Ragona, Rosenthal, Seiden, Swanson (5) NAYS: Heuberger (1) ABSENT: None (0 ) PASSED: This 5th day of September A.D., 2000. APPROVED: This 5th day of September A.D., 2000. 1(;S 251033 v September 13. 2000 V AGE PRESIDE1 5 EXHIBIT A Legal Description of Subject Property LOT 4 IN THE DEERPARK BUSINSS CENTRE RESUBDIVISHON BEING A RESUBDIVISION OF LOT 2 IN FLODSTROM'S RESUBDIVISION NO. 2, BEING A RESUBDIVISION OF LOT 1 OF FLODSTROM'S SUBDIVISHON OF PART OF THE SOUTHEAST QUARTER OF SECTION 32 AND PART OF THE SOUTHWEST QUARTER OF SECTION 33, TOWNSHIP 43 NORTH, RANGE 12 EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED SEPTEMBER 17, 1997 AS DOCUMENT NUMBER 4020708, IN THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS. \/. bi THE WEST 5 FEET OF LOT 2 IN FLODSTROM'S SUBDIVISION, BEING A SUBDIVISION OF PART OF THE SOUTHEAST 1/4 OF SECTION 32 AND THE SOUTHWEST 1/4 OF SECTION 33, TOWNSHIP 43 NORTH, RANGE 12, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED OCTOBER 5, 1982 AS DOCUMENT NUMBER 2179958, IN LAKE COUNTY, ELLNOIS. 4Ga8018 PROJECT SUMARY Ee*ATE DRIVE ���1...• Pq PUxOP��m PNPUq 1a4 yPA r0� OIIB.m.�xOl;61111P1 ;tmPV1 � •Rryat mlb WsP AMECxr�P�4P �o�YD 00xW�du ®� Yx/Otl�Wxe ®nY MW.x�Exd Ylx[OM A[ �YN6PflYCPMO;PMMA,M x;e xPO.D. re xp��MPx It xcxYMxQ ' b Pm PY00.RP�AM 6A1� PAP uY OxwV1 O z w TY tt `.3 LAKE COOK ROAD PROPOSED Sr E PLAN • ► r.,d -o• Ck a Y Q w w 0 Lu W U cc W� i W � i « Q I 1 a ai e�a A1.1 :oJ oa O Tr I F­ WD 13 El a • ■® ®11111 ■[ . il_ ■_ ■■ . '�_I���11 ■[ ■ ■ ■��■ ,: I , ��� ■•� ■■ ■11�oi1 ■I ■ ■ ■� � ■11111 ■I ■ ■ ■�f� ��:IIIIII VIII'! IIIIIiI' IIIIIIIIIIilllllf ,IIIILIi!Illlljiliilluuu Inuunmu!u u!uunuuuml Iclunuu!uuap:ptu rI n i it muuul! I u unpu nuiu!nnl u i II!In i m_i,i.0 imun'u I maiui ui iil iwi in luu uiiniiin!u nllilllill VIII iIIIIIII�II!IIIIII Illil'illfl!IIIIIIIIIII� �_ Li.!• �L!• � \t:>s.J♦ �1. S =� 5.1.1■ �_ �� _ n it 0 13 R — ® ® ® ®® ILL Ll -1 1 ■ ■ ■�I� ■ ■ ® ■■ I■ ■111 ■1111 ■ ■ ■�i■ — ■1� ®® I..• i WJLDM -- �t: C) k-h on 0 it 1 II II II i 11 II II II II II i II II it II J sm z ON THE BORDER. 4 J, 3 C.­ w U_ .0.. ------- 1 -——------—-------- II II II II II II II II II F NOTESi Y of --I 1! - E-1 tj !E U a- 00-V99 =1 A PROPOSED C E I I�L D', II tj I E­ 1.71rb I­ L .... c nt­ ­It Al COURTYARD BY MARRIOTT ii i III II i I III -b -o� �� I ; � � � �� III DEVELOPMENT AGREEMENT This Development Agreement ( "Agreement ") entered into as of this 5th day of September, 2000 by and among FLODSTROM CONSTRUCTION CORPORATION, an Illinois corporation (the "Developer "), FLODSTROM INVESTMENTS, L.L.C., an Illinois limited liability company ( "Owner ") and the VILLAGE OF DEERFIELD, an Illinois municipal corporation (the "Village "). Recitals: WHEREAS, the Owner holds beneficial title to certain property located within the Village legally described on Exhibit A attached hereto and made a part hereof (the "Subject Property") which is included in an area of the Village comprising the Lake - Cook Road Tax Increment Financing District (the "TIF District ") created pursuant to the provisions of 65 ILCS S /11 -74.4, et seq., as amended (the "Act "); and WHEREAS, in accordance with the terms and provisions of the Act, the Village seeks to achieve the redevelopment and improvement of properties included in the TIF District and has accumulated revenues to assist in the implementing and realization of these objectives (the "TIF Funds "); and WHEREAS, the Owner and Developer have petitioned the Village for certain relief consisting of a request for TIF Funds, along with requested exceptions to various standards contained in said District, to facilitate the development of the Subject Property in a manner consistent with the objectives of the TIF District; and WHEREAS, the Corporate Authorities of the Village have received and approved the favorable recommendation of the Village Plan Commission relating to the development plan submitted by the Owner and Developer for the Subject Property; and WHEREAS, in connection with said development plan, the Corporate Authorities of the Village have received the favorable report and recommendation of the Village Plan Commission as to the Preliminary Development Plan submitted by the Owner and Developer; and WHEREAS, the corporate Authorities of the Village have determined that the proposed development of the Subject Property legally described on Exhibit A, and as set forth in the immediately preceding recitals, and as further amended by the Owner and Developer following its submission to the Corporate Authorities is consistent with the goals and objectives of the TIF District, specifically, the completion of the remaining undeveloped portion of the area commonly known as the 'Brickyard "; and . WHEREAS, the Village has TIF Funds available to assist and implement the development of the Subject Property in accordance with the proposals presented by the Owner and Developer to the Village Plan Commission and to the Corporate Authorities; and 4Gj8®18 WHEREAS, the Developer has submitted plans, schedules, specifications and other documents comprising its "Final Development Plan ", as defined in the Village Zoning Ordinance and the Final Development Plan has been submitted to, reviewed by,. and recommended for approval by the Village Plan Commission; and WHEREAS, the President and Board of Trustees have reviewed the Final Development Plan and have adopted all necessary ordinances, passed all necessary motions, and otherwise granted all necessary approvals: (i) granting the requested TIF Funds and exceptions to various standards contained in said District; (ii) approving the Developer's Final Development Plan; and (iii) granting the variations from the Development Code as described hereinbelow. A listing of the authorizing ordinances and other approval measures is attached hereto as Exhibit B; and WHEREAS, the Village has heretofore adopted a "Village of Deerfield Development Code" ( "Development Code ") by Ordinance No. 93 -53. Among other things, the Development Code calls for the Village and the Developer to enter into ;a "Development Agreement" relative to the development of the Subject Property; and WHEREAS, in accordance with Article III of the Development Code, this Agreement has been reviewed by the Director of Community Development, the Village Engineer, and the Village Plan Commission, all of whom have made recommendations to the President and Board of Trustees; and WHEREAS, the parties now desire to enter into this Agreement, pursuant to the applicable provisions of the Development Code, for the purposes set forth in the Development Code and to reach the goals and objectives of the TIF District. NOW, THEREFORE, it is hereby agreed by and between the parties hereto, as follows: 1. Incorporation of Recitals. The recitals set forth are incorporated herein as if fully set forth. 2. Identification of Final Development Plan. For purposes of this Agreement, the "Final Development Plan" shall consist of the Final Development Plan submitted by the Developer, and identified in, and approved by the President and Board of Trustees, pursuant to Ordinance No. 0-00-31 For identification purposes, a schedule of the documents comprising the Final Development Plan is appended hereto as Exhibit C and made a part hereof. 3. Final Improvement Plan Approved. In accordance with Section 3 -101 -B of the Development Code, the Developer has provided the Village Engineer and Director of Community Development with copies of its Final Improvement Plan as a part of its Final Development Plan. The term "Final Improvement Plan" when. used herein shall include only those documents and/or plans or those specific parts of documents and/or 46a scis I plans listed in Exhibit C that depict public or private improvements as they are defined and specifically identified hereafter. The Village Engineer and Director of Community Development have reviewed said Final Improvement Plan and they have provided the Plan Commission and President and Board of Trustees with a letter indicating their recommendations regarding the Final Improvement Plan. The Village Engineer has provided the Plan Commission and President and Board of Trustees with a letter indicting receipt and approval of all of the appropriate final engineering plans and verifying that the documents granting any required easements are satisfactory for the purposes for which they are required and approved. Said final engineering plans are identified as a part of Exhibit C. 4. Site Development Schedule. In accordance with Section 3- 102- B(4)(a) of the Development Code, the development of Lot 4 will proceed substantially in accordance with the schedule attached hereto as Exhibit D and made a part hereof. The parties recognize and acknowledge that this development schedule is subject to variables relating to weather, strikes, work stoppages, acts of God and other matters outside of the reasonable control of the Developer, its contractors and subcontractors, or anyone performing- Developer's obligations under Paragraph 13 hereof. 5. Improvement Plan. Pursuant to Section 3- 102- B(4)(b) of the Development Code, all improvements, both public and private, are located and depicted on the Final Improvement Plan identified hereinabove. 6. Approved Conditions, Requirements and Variations. Pursuant to Section 3- 102- B(4)(d) of the Development Code, the conditions, requirements and variations as contemplated by the authorizing ordinances and approval ,measures listed on Exhibit B hereto set forth all of the conditions, requirements and variations necessary to construct the public and private improvements described in the Final Development Plan, with the additional special conditions relating to certain portions of the private foundation work to be performed by Developer. 7. Performance Guaranty and Inspection. Attached hereto as. Exhibit F and made a part hereof is a form satisfactory to the Village of a Performance Guaranty ( "Guaranty ") with respect to those Exhibit E improvements. The actual Guaranty must be submitted to the Village prior to any disbursement of TIF Funds. The aggregate amount of the Guaranty shall be equal to the Exhibit E total cost estimate, reduced by (net of) TIF Funds for such purposes. Pursuant to Section 4 -106 of the Development Code, the parties have jointly designated the firm of Charles W. Greengard Associates, Inc. as the registered professional engineering firm designated as the "Inspecting Engineer" in order to ensure that the development complies with the approved Final Improvement Plan, the Village Standards and Specifications Manual and this Agreement. The Inspecting Engineer shall invoice the Village for services rendered and the Village shall pay said invoices from the TIF Funds described in paragraph 8. The Village Engineer, within thirty (30) days from the date of such request, will either approve requests from time to time for reduction in the Guaranty upon completion by the Developer of those items described herein to be constructed by Developer or shall 3 4G38o18 13 provide the Developer, in writing, with a complete listing of reasons why such reduction may not be granted and the specific corrections necessary to conform with the approved Final Improvement Plan in order to approve the requested reduction. The Board of Trustees by motion or resolution shall approve the release or reduction of the Guaranty upon the advice of the, Village Engineer. S. Payment of TIF Funds. A. The Village will provide a maximum aggregate of $430,243.00 [including $80,867.00 from the TIF request of 6/20/00], including any funds paid to the Inspecting Engineer as provided in Paragraph 7 hereof, of TIF Funds allocated as set forth below to assist the Owner and Developer in the completion of certain specific on -site improvements to the Subject Property as particularly identified in Exhibit E, including foundation and piling work. Of the foregoing amount, a sum not to exceed $52,657.00 shall be allocated to grading work and utility installation, and the remaining balance of $296,719.00 shall be available for foundation work. B. The parties agree that the foundation costs set forth on Exhibit E hereto refer to several different aspects of DeveIoper's work, such as excavating, piling, pond re- structuring (including de- watering), concrete work (grade beams, first floor pre -cast slab -- including topping, pile caps, etc.), methane gas prevention work, etc., all related to the extraordinary costs incurred by Developer as a result of the unusual landfill conditions at the site. C. I The Developer shall have the right to install its foundation, and shall have the right to apply to the Village for reimbursement of such foundation costs up to the remaining amount of TIF Funds allocated to the Subject Property. 9. Funding of Improvements. The Owner and Developer have submitted to the Village, and the Village hereby approves specific funding commitments, for identified improvements to the Subject Property as specifically set forth on the schedule attached as Exhibit E hereto and made a part hereof. 10. Disbursement Procedures. TIF Funds shall be disbursed by the Village only for the specific improvements and not in excess of the amounts set forth on Exhibit E and in accordance with paragraph 8 hereof. Prior to any disbursement of TIF Funds for any specific improvement, the Owner and Developer shall submit to the Village such documentation as the Village may require to assure the Village that the particular improvement has been fully and. satisfactorily completed. The submission will include, but is not limited to, all appropriate contractor and/or subcontractor lien waivers for the work performed and material supplied for the specific improvement. Upon receipt of appropriate documentation, there shall be monthly payments from TIF Funds from the Village, to Developer [or, where appropriate, to Developer and subcontractor jointly] for work performed on those items listed on Exhibit E. 4 4G 380is 14 11. A .Rreements with Contractors. Prior to the inception of any work for any specific item listed on Exhibit E, the Owner and Developer shall furnish the Village with the proposed form of agreement prior to its execution with any contractor or subcontractor intending to perform work on the Subject Property detailing the work to be performed, the parties performing the work and the contract price. The Village shall have the right to approve any such agreement involving the disbursement of TIF Funds. 12. Reciprocal Agreements. Prior to any disbursement of any TIF Funds, the Owner and Developer will prepare and submit for the review and approval of the Village and its legal counsel the agreement of the Owner, running with the land and binding upon successors, grantees and assigns, providing for access to all areas of Lot 4 13. Default. In the event that the Owner shall not complete the development in accordance with the specific development plan for the Subject Property, the Village's obligation to expend unused portions of the TIF Funds shall immediately terminate at such time, and at the Village's sole election the Village may undertake control of any utilities installed upon or within the Subject Property.. Notwithstanding the foregoing, the Village agrees to notify in writing Owner, Developer and any grantees from Owner as to the nature of the default and provide a thirty (30) day cure period within which any one or more of the parties receiving said notice may cure said default or demonstrate to the satisfaction of the Village its ability to do so in a timely manner in which case this Agreement will continue to be performed in accordance with its terms. 14. Pond Maintenance: Owner acknowledges and agrees that maintenance of the Pond, situated in the southerly portion of Lot 4 in the Deerpark Business Centre Resubdivision (being a portion of the Subject Property), shall be the sole obligation of the Owner ( "Owner" for purposes of this paragraph 14 being Owner and successor owners from time -to -time) of the Subject Property. This obligation for maintenance of the Pond shall run with the land, and shall . inure to the benefit of, and be enforceable by, the Village of Deerfield. With respect to same: A. At all times, said Owner shall maintain, in full force and effect, a policy of general liability insurance, in an amount not less than $1,000,000.00, naming the Village as additional insured thereon, entitled to notice in the event of non - payment or cancellation of said policy. B. In the event said Owner fails to provide requisite liability insurance, and/or fails to maintain the Pond, the Village -- after written notice to said Owner and failure of said Owner to reasonably cure - may (but shall not be obligated) to undertake same and, if the Village so undertakes, the Village shall be entitled to a lien on the Subject Property for its costs in said regard. 46.asois )5 C. From time -to -time, upon said Owner's request, the Village will furnish to said Owner, Owner's lender or title company, a customary estoppel letter to confirm whether or not the Village has or claims a lien as of that time [and, if so, the amount thereofJ. 15. Compliance with Other Rules and Regulations. Except as specifically provided herein, the development of the Subject Property shall proceed in accordance with the ordinances described hereinabove and with applicable provisions of the Municipal Code of the Village of Deerfield of 1975. 16. Successors. Assigns and Grantees. This Agreement shall be binding upon the parties, their respective successors, assigns and grantees. 17. Remedie s. Upon breach of this Agreement, any party in a court of competent jurisdiction may obtain all appropriate relief, including but not limited to specific performance, injunction or damages. Notwithstanding the foregoing, before the failure of any party to perform its obligation under this Agreement may be considered a breach, the party claiming such failure shall notify, in writing, the party alleged to have failed to perform, and shall demand performance. No breach may be found to have occurred if performance has commenced to the reasonable satisfaction of the complaining party within thirty (30) days of receipt cf such notice. 18. Captions.. The captions herein are inserted for the convenience of the parties and are not to be construed as an integral part of the Agreement. 19. Governing Law. This Agreement shall be governed by and construed in accordance with Illinois law. 20. Authority. The parties warrant and represent that they have the power and authority to enter into this Agreement in the names, titles and capacities herein stated. 21. Notices. All notices, elections and other communications between the parties hereto shall be in writing and shall be mailed by certified mail, return receipt requested, postage prepaid or delivered personally to the parties at the following addresses, or to such other addresses as the parties by "notice" shall designate: If to the Village: Village of Deerfield 850 Waukegan Road Deerfield, Illinois 60015 Attn: Village Manager with a copy to: Pedersen & Houpt 161 N. Clark Street Suite 3100 Chicago, Illinois 60601 Attn: James K. Stucko r1 t�. • iLP If to the Developer: Flodstrom Construction Corporation 770 Lake Cook Road Deerfield, Illinois 60015 Attn: Sven Flodstrom with a copy to: Felbinger & Felbinger 1314 Shermer Road Suite 100 Northbrook, Illinois 60062 Attn: Karl L. Felbinger If to the Owner: Floodstrom Investments, L.L.C. c/o Sven Flodstrom Managing Partner 770 Lake -Cook Road Deerfield, Illinois 60015 22. Severability. If any provision, covenant, agreement or portion of this Agreement is held invalid, such invalidity shall not affect the application or validity of such other provisions, covenants or portions of this Agreement. 23. Entire A_reQ ement. This Agreement supersedes any prior agreements, negotiations and exhibits and is a full integration of the entire agreement of the parties. The Exhibits to this Agreement are expressly incorporated herein. 24. Counterparts and Duplicate Originals. This Agreement may be executed in any number of counterparts and duplicate originals, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. 7 46aSoIS I_1 IN WITNESS WHEREOF, the parties hereto have-set their hands and seals as of the day and year first above written. FLODSTROM CONSTRUCTION CORPORATION BY Sven G. Flodstrom, President FLODSTROM INVESTMENTS, L.L.C. Sven G. Flodstrom, Managing Partner SUBSCRIBED & SWORN TO before me this day by Sven G. Flodstrom, as President of Flodstrom Construction Corporation (the "Corporation "), and Managing Partner of Flodstrom Investments, L.L.C. (the "LLC "), as the free, voluntary and duly authorized act of the Corporation and of the LLC. October 1.=;., 2000 C i goL- 4Q -. t/v . Notary Public 'OAML SEAL• CudbW VILLAGE OF DEERFIELD W�tgtnwFit -tMt 1W_ - i . ATTEST: 1�% ♦ ` �_ Village SUBSCRIBED & SWORN TO before me this day by A6&1+ 0 )CVAAf S- , as and RD &'R' as V i LL_1/ 06: of the Village of Deerfield (the "Village "), as the free, voluntary and duly authorized act of the Village. October 62-, 2000 aer_�� - _ 5&+Aati k. e&1tn L, Notary Public Prepared by: Karl L. Felbinger 1314 Shermer Road, Suite 100 Northbrook, IL. 60062 "OFFICIAL SEAL" man [. C`wmie Fsbfie, sue etmimb !' FAA 208 8 4638018 I SCHEDULE OF EXHIBITS Exhibit A Legal Description of Subject Property Exhibit B Enumeration of Authorizing Ordinances and Related Approval Measures Exhibit C Schedule of Documents Comprising Final Development Plan Exhibit D Site Development Schedule Exhibit E Description of Improvements to be Constructed by Developer and . Allocation of TIF Funding Exhibit F Performance Guaranty E 46asolS )9 EXHIBIT A Legal Description of Subject Property LOT 4 IN THE DEERPARK BUSINSS CENTRE RESUBDIVISHON BEING A RESUBDIVISION OF LOT 2 IN FLODSTROM'S RESUBDIVISION NO. 2, BEING A RESUBDIVISION OF LOT 1 OF FLODSTROM'S SUBDIVISHON OF PART OF THE SOUTHEAST QUARTER OF SECTION 32 AND PART OF THE SOUTHWEST QUARTER OF SECTION 33, TOWNSHIP 43 NORTH, RANGE 12 EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED SEPTEMBER 17, 1997 AS DOCUMENT NUMBER 4020708, IN THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS. am THE WEST 5 FEET OF LOT 2 IN FLODSTROM'S SUBDIVISION, BEING A SUBDIVISION OF PART OF THE SOUTHEAST 1/4 OF SECTION 32 AND THE SOUTHWEST 1/4 OF SECTION 33, TOWNSHIP 43 NORTH, RANGE 12, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED OCTOBER 5, 1982 AS DOCUMENT NUMBER 2179958, IN LAKE COUNTY, ILLINOIS. to] 4638®18 ao EXHIBIT B Enumeration of Authorizing Ordinances and Related Approval Measures Ordinance 0_00 -31, adopted September 5,2000 C� A EXHIBIT C Schedule of Documents Comprising Final Development Plan Plat of Survev of Lot 4 in Deerpark Business Center prepared by Greengard Associates, dated 8/25/00. 2. Final Development Plan prepared by Partners in Design, Sheet A1.1, dated 6/23/00. 3. Landscaping Plan prepared by Pugsley & Lahaie Ltd., dated 8/21/00. 4. Lighting/Photometric Plan prepared by Security Lighting Systems, Inc., dated 5/30/00. 5. Building Elevations prepared by Partners in Design, Sheets A3.1 and A3.2, dated 6/23/00. 6. Approved Engineering Drawings prepared by Greengard Associates, dated 6/16/00 (on file with the Engineering Department, Village of Deerfield). 12 4638 jS o7OI PLAT OF SURVEY LOT 4 IN DEERPARK BUSINESS CENTER, BEING A RESUBDIVISION OF LOT 2 IN FLOODSTOM'S RESUBDIVISION NO. 2, BEING A RESUBDIVISION OF LOT 1 OF FLOODSTROM'S SUBDIVISION OF PART OF THE SOUTHEAST QUARTER OF SECTION 32 AND PART OF THE SOUTHWEST QUARTER OF SECTION 33, TOWNSHIP 43 NORTH, RANGE 12 EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED SEPTEMBER 17, 1997 AS DOCUMENT NUMBER 4020708, IN THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS. ESTATE $I H EASEMENT TO ILLINOIS BELL TELEPHONE PER DOC NO. 2429881 166.71' N 88-57'10" E m \ 1• _ ao' O O 00 M U) LOT 4 90,177 SO. FT. 3 w ca SLOlmm" NOES, 10 1. 7103 SURVEY O SU&= TO WTTOO OF &P.KAM B/ A O r LAKE -COON ROAD LS POTIEBY PRaIDORm. O O aL3LCPAL MgIESf N BUILDING LINE PER DOC. NO. 2311 1. OSIMM ARE LARK= IN PER AND OWRK PLACES 112 1 TNmEOF. Z 2. NO ONO6ION DWI K ASSUMED 8Y SCALE IW��IT KUMM RETENTION POND EASEMENT PER DOC. NO. 2229622 I In I _ PERMANENT EASEM�EN FOR SANITARY SEWER PER CIRCUIT COURT F LAKE COUNTY CASE 90.99 76.0 S 89'53'03" W S84.24'. LAKE COOK ROAD DMOwQm • SURMORS • PL"Im CHARLES W. GREENGARD ASSOCIATES, INC. 231 OLM KALF DAY ROW, UICOLLSHUI, NAAM WOO -2005 A& 847 /030 -3083 847/93+ 0 7 FAX ,N W c'; w _ u n ' �w K J cl b, CO z r0: w w 0 I -- 1 u,0�, I COOUIM OF LAKE 3 wE, ONAES w. ORLS,NONID ASSOCNlLO, OMC. DO VKW STATI TINT WE KAVE SURYLYm l iNC AL10V[ D[ECIUBm PROPrJ1IY AND TINT M[ PUT HOW oRANw n A CORRECT to OAl[R TIID Tgl1/ 4RA, MOM. •. c/k(� �_ �, D44, ; A�DAY 120 "E 9 E W. CRWOXAR0 ASSOCIATES. DIC. X .., D 2N OLDE KALF DAY ROW KEVIN D. D6ORR URJODUIllm LLOIOS 50050 -2005 LLNOS (N7) 531 -3553 PROFLSsw LL LAM SURVEYOR IIO. no T'. 80' OEERPARK BUSINESS CENTRE DEERFlELO, IL PLAT OF SURVEY J 46380iS '95 w SLOlmm" NOES, 1. 7103 SURVEY O SU&= TO WTTOO OF &P.KAM B/ A QIPoIDR TD1f RE (D L DOER ACCESS FROM LOT ♦ TO AND FROM r LAKE -COON ROAD LS POTIEBY PRaIDORm. O aL3LCPAL MgIESf O 1. OSIMM ARE LARK= IN PER AND OWRK PLACES 112 1 TNmEOF. Z 2. NO ONO6ION DWI K ASSUMED 8Y SCALE IW��IT KUMM & MOPS MAY DE ADOV OM TIMIS, PONVM WIM510/4 1 AND LLOTAIIOB OMADa N M 01831RACT DEED, LOCAL OROMKVICO, DIM TRUSTS, OOWEIMIt OR OMER R6TRW008 OF RECOR0. .. OOwPNK ALL POOM 960R[ BJILOW BY SILL AND O/wmLAT6Y ROW ANY DISCREPN/OES4 L COMM COPIES OF THIS SUMP SEAR AN 1 N pFtm= SLAL I ) Re- rML�e�ge� w if Cvv,c -4 Ow +E_ 8`��/DO I I � , I -- 1 u,0�, I COOUIM OF LAKE 3 wE, ONAES w. ORLS,NONID ASSOCNlLO, OMC. DO VKW STATI TINT WE KAVE SURYLYm l iNC AL10V[ D[ECIUBm PROPrJ1IY AND TINT M[ PUT HOW oRANw n A CORRECT to OAl[R TIID Tgl1/ 4RA, MOM. •. c/k(� �_ �, D44, ; A�DAY 120 "E 9 E W. CRWOXAR0 ASSOCIATES. DIC. X .., D 2N OLDE KALF DAY ROW KEVIN D. D6ORR URJODUIllm LLOIOS 50050 -2005 LLNOS (N7) 531 -3553 PROFLSsw LL LAM SURVEYOR IIO. no T'. 80' OEERPARK BUSINESS CENTRE DEERFlELO, IL PLAT OF SURVEY J 46380iS '95 O z ESVZTE DRIVE f wrarYr (_I 22 ............. ro LAKE COOK ROAD ;g PRM6 WTtARY 5T0F} BUIL6W, AjWXjATELTj40)50 Pr. PROP06Ep SITE PLAN � O O I _ 0141- rr I l ON THE BORDER. I I I II I I I III11 7 IIj • ii �- r.ra.u•:.:..,Yp. �' - - -- - �. 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' r 5,:1:r Site and Foundation Development Schedule Foundation work is scheduled to proceed in September, 2000 or immediately after the building permit has been issued. The foundation will be completed this Fall. Work for site utilities are scheduled to commence this Fall. All work will be done late this year or early next year. Some of the site work will be done this Fall but most of the landscaping and the paving work is scheduled for completion in the Spring and Summer, 2001. Final paving surfaces will be installed in the Fall of 2001. 13 s EXHIBIT E Description of Improvements to Lot 4 to be Constructed by the Developer Allocation of TIF Funding Grading Work and Utilities (Sanitary, storm and water supported partly on grade beams) Basic estimated cost $37,842.00 Other Fees 10% contingencies 3,784.00 Subtotal 41,626.00 15% engineering 6,244.00 Subtotal 47,870.00 10% construction mgt. 4,787.00 $52,657.00 $52,657.00 Foundation Estimated Costs Normal Unusual Difference $102,120.00 $695,558.00 $593,438.00 $593,438/2 = $296,719.00 Basic Improvements to encourage tenants to overcome inherent problems with this site. Total cost $242,600.00. One third (113) approved from TIF to be paid as a lump sum when superstructure is substantially completed = $ 80.867.00 Total Village TIF Contribution $430,243.00 Improvements funded by the Developer One half of the "Difference" in the cost of the foundations due to Site conditions ($296,719.00) PERFORMANCE GUARANTEE, PER EXHIBIT F, ATTACHED, IS TO BE ISSUED IN AN AMOUNT ARRIVED TO AS FOLLOWS: 1. Grading of Utilities per above $ 52,657.00 2. Foundation work: total cost per above 695,558.00 3. Paving per bid proposal 45,750.00 4. Landscaping per bid proposal 34,000.00 Less TIF Performance Guarantee 14 $827,965.00 (430,243.000) $437,722.00 46 <3SOIS RA EXHIBIT F Performance Guaranty [SEE ATTACHED] 15 4GaSojS 31 FLODSTROM CONSTRUCTION CORPORATION GENERAL. CON- M-XCTORS - CONSTRUCTION IMANAGERS 770 LAX COOT: ROAD - DEE• RFIELD. ILLL\OIS 6001 5 - (847) 498 -0300 - FAX (847-) 498 -9981 EXHIBIT F. August 31, 2000 To the Mayor and Trustee's Village of Deerfield 850 Waukegan Road Deerfield, Illinois 60015 Re: Development Plan of Deer Park Business Centre, Lot 4. Dear Mayor and Trustee's, This will confirm that we will submit a Performance Guarantee for work on the above property in accordance with paragraph 7 of the Development agreement. Paragraph 7 states that the Guarantee "shall be equal to Exhibit E total cost estimate, reduced by (net of) TIF funds for such purposes." It is understood that 25 % will be added to the above amount in computing the total amount of the Performance Guarantee. This guarantee will either be in the form of a Letter of Credit per Section 4 -104.13 of the Village of Deerfield Development Code or in the form of a Performance Bond per Section 4 -104.3 of the same code. It is also understood that the Performance Guarantee must be submitted prior to any disbursements of funds from the TIF. Since yo �o, Sven G. Flodstrom FLODSTROM CONSTRUCTION CORPORATION 32 IIV EXHIBIT A Legal Description of Subject Property LOT 4 IN THE DEERPARK BUSINSS CENTRE RESUBDIVISHON BEING A RESUBDIVISION OF LOT 2 IN FLODSTROM'S RESUBDIVISION NO. 2, BEING A RESUBDIVISION OF LOT 1 OF FLODSTROM'S SUBDIVISHON OF PART OF THE SOUTHEAST QUARTER OF SECTION 32 AND PART OF THE SOUTHWEST QUARTER OF SECTION 33, TOWNSHIP 43 NORTH, RANGE 12 EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE' PLAT THEREOF RECORDED SEPTEMBER 17, 1997 AS DOCUMENT NUMBER 4020708, IN THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS. ►I1 THE WEST 5 FEET OF LOT 2 IN FLODSTROM'S SUBDIVISION, BEING A SUBDIVISION OF PART OF THE SOUTHEAST 1/4 OF SECTION 32 AND THE SOUTHWEST 1/4 OF SECTION 33, TOWNSHIP 43 NORTH, RANGE 12, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED OCTOBER 5, 1982 AS DOCUMENT NUMBER 2179958, IN LAKE COUNTY, ILLINOIS. 46as8OJS __J 01 EXHIBIT A Legal Description of Subject Property LOT 4 IN THE DEERPARK BUSINSS CENTRE RESUBDIVISHON BEING A RESUBDIVISION OF LOT 2 IN FLODSTROM'S RESUBDIVISION NO. 2, BEING A RESUBDIVISION OF LOT 1 OF FLODSTROM'S SUBDIVISHON OF PART OF THE SOUTHEAST QUARTER OF SECTION 32 AND PART OF THE SOUTHWEST QUARTER OF SECTION 33, TOWNSHIP 43 NORTH, RANGE 12 EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE' PLAT THEREOF RECORDED SEPTEMBER 17, 1997 AS DOCUMENT NUMBER 4020708, IN THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS. ►I1 THE WEST 5 FEET OF LOT 2 IN FLODSTROM'S SUBDIVISION, BEING A SUBDIVISION OF PART OF THE SOUTHEAST 1/4 OF SECTION 32 AND THE SOUTHWEST 1/4 OF SECTION 33, TOWNSHIP 43 NORTH, RANGE 12, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED OCTOBER 5, 1982 AS DOCUMENT NUMBER 2179958, IN LAKE COUNTY, ILLINOIS. 46as8OJS __J 01