90-0314 Poplar Creek Partnership 9o- er6i4
REIMBURSEMENT AGREEMENT
THIS AGREEMENT dated this J•/ day of /9Xee-/ , 1990
between the City of Elgin, a municipal corporation ( "the City" )
and Poplar Creek Partnership, an Illinois general partnership
( "Poplar Creek" ) .
WITNESSETH:
WHEREAS, Poplar Creek desires to enter into a contract
with the City to construct approximately 1,300 feet of Shales
Parkway north of East Chicago Street ( "Shales Parkway North
Improvements" ) to provide a means of ingress and egress to the
proposed residential subdivision known as Woodland Creek; and
WHEREAS, the construction of the Shales Parkway North
Improvements shall be subject to a separate agreement between the
City and Poplar Creek; and
WHEREAS, before such time as the construction of the
Shales Parkway North Improvements can begin, it is necessary and
desirable for Poplar Creek to have a contract with a competent
engineering firm to perform engineering services and make
recommendations regarding the Shales Parkway North Improvements,
as well as prepare the construction documents (including plans
and specifications) ; and
WHEREAS, Poplar Creek is willing to retain a competent
engineering firm to survey and prepare construction documents
including plans and specifications for the Shales Parkway North
Improvements subject to being reimbursed for such costs by the
City.
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NOW, THEREFORE, in consideration of the covenants and
promises contained herein, the parties agree as follows:
1. Poplar Creek agrees to enter into a contract and
employ a competent engineering firm to prepare construction
documents plans and specifications in accordance with Illinois
Department of Transportation standards for the construction of
the Shales Parkway North Improvements, namely, approximately
1,300 feet north of East Chicago Street and widen East Chicago
Street to facilitate left turn lanes onto Shales Parkway both
north and south of East Chicago Street, all in accordance with
the engineering drawings prepared by the engineering firm to be
retained by Poplar Creek ( "the Engineering Contract" ) .
2 . The City agrees to reimburse Poplar Creek for the
costs incurred by Poplar Creek in entering into the Engineering
Contract for the Shales Parkway North Improvements, except as
indicated below. Such reimbursement shall take place within
sixty (60) days of the City being presented with evidence of
payment to the engineering firm retained by Poplar Creek. The
amount of the Engineering Contract shall not exceed Fifty-Nine
Thousand Nine Hundred and No/100 Dollars ($59,900 .00) .
3 . Poplar Creek is the successor to a developer under
an annexation agreement with the City dated August 10, 1988 ( "the
Annexation Agreement" ) . The Annexation Agreement provides that
the developer shall pay to the City the total sum of Seventy-Five
Thousand and No/100 Dollars ($75,000.00) in equal installments of
Twenty-Five Thousand and No/100 Dollars ($25,000 .00) due on June
1, 1988, June 1, 1989 and June 1, 1990 (with interest)
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representing the developer's share of the cost of the
construction of Shales Parkway.
Poplar Creek has paid one installment on behalf of the
developer to the City representing the installment due on June 1,
1988. Poplar Creek shall be reimbursed by the City for the
amount of the Engineering Contract for the Shales Parkway North
Improvements in excess of Twenty-Five Thousand and No/100 Dollars
($25,000 .00) . Poplar Creek shall pay directly the first Twenty-
Five Thousand and No/100 Dollars ($25,000.00) of the Engineering
Contract. Upon providing the City proof of payment of such
Twenty-Five Thousand and No/100 Dollars ($25,000.00) by Poplar
Creek, the developer shall be deemed to have satisfied its
obligation for the second installment of the Shales Parkway
contribution which was due on June 1, 1989 . Nothing herein shall
be deemed to relieve the developer of its other obligations under
the terms of the Annexation Agreement, including accrued interest
due to the City on the June 1, 1989 installment which shall cease
to accrue as of the date of the execution of this Agreement.
Dated the day and year above written.
City of Elgin Poplar Creek Partnership, an
Illinoiiss general partnership
By: L.:€19-77_,6"a------t-Le
BY: C _.�,
Mayorthe City of Elgin One of its ge ral partners
Attest: L\2 rt,i_AL� �(
a:scilabra\agreemen
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TELEPHONE 708/695-6500
1-4n
0 CITY OF ELGIN 150 DEXTER COURT ELGIN, ILLINOIS 60120-5555
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April 3, 1990
Attorney Raymond F. Dalton, Jr.
1 130 N. McLean Blvd.
Elgin, Illinois 60123
RE: Poplar Creek Partnership/
Shales Parkway Improvements
North of East Chicago Street.
Dear Ray:
Enclosed please find executed copy of Reimbursement Agreement.
Please call me if you have any questions.
Very truly yours,
Marie Yearman
City Clerk
MY/db
Enclosure
RITT AND DALTON, P.C. wit,'
ATTORNEYS AT LAW
March 26, 1990
NORBERT C. RITT 1130 N.MCLEAN BOULEVARD
RAYMOND F.DALTON,JR. ELGIN,ILLINOIS 60123
(708)695-4100
FAX(708)695-4106
Mr. Larry Rice, City Manager VIA HAND DLLIVERY
City of Elgin
150 Dexter Court
Elgin, IL 60120
Re: Poplar Creek Partnership/Shales Parkway Improvements
North of East Chicago Street
Dear Larry:
Enclosed please find two executed copies of a Reimbursement
Agreement, which have been signed by Mr. Carl Bongiovanni, one of
the general partners of Poplar Creek Partnership. I would
appreciate if you would have the Mayor countersign this agreement
and return one signed copy to me. Please also note that the City
Clerk's attestation to the Mayor's signature is necessary. The
City Council approved a resolution authorizing the agreement on
February 28, 1990.
Please call me if you have any questions.
Very truly yours,
RAYMOND F. DALTON, JR.
RFD/dmw
Enclosure
cc Poplar Creek Partnership
Mr. Charles M. Hanlon (w/encl. )
Erwin W. Jentsch, Esq. (w/encl. )
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