11-163 Unsigned Resolution No. 11-163
RESOLUTION
RATIFYING THE EXECUTION OF A CONTRACT TERMINATION AGREEMENT
WITH ARCH INSURANCE COMPANY AND VERUNA LLC REGARDING A CONTRACT
COMPLETION AGREEMENT WATERFORD SUBDIVISION-NEIGHBORHOOD 3
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,ILLINOIS, that
it hereby ratifies and approves the execution of a Contract Termination Agreement with Arch
Insurance Company and Veruna LLC, by David J. Kaptain, Mayor, and Kimberly A. Dewis, City
Clerk,regarding a Contract Completion Agreement Waterford Subdivision Neighborhood 3,a copy
of such Contract Termination Agreement being attached hereto and made a part hereof by reference.
s/David J. Kaptain
David J. Kaptain, Mayor
Presented: September 28, 2011
Adopted: September 28, 2011
Omnibus Vote: Yeas: 7 Nays: 0
Attest:
s/Kimberly Dewis
Kimberly Dewis, City Clerk
• Fully executed agreement was never provided to the City Clerk's Office.
Resolution No. 11-163
RESOLUTION
RATIFYING THE EXECUTION OF A CONTRACT TERMINATION AGREEMENT
WITH ARCH INSURANCE COMPANY AND VERUNA LLC REGARDING A CONTRACT
COMPLETION AGREEMENT WATERFORD SUBDIVISION-NEIGHBORHOOD 3
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,ILLINOIS, that
it hereby ratifies and approves the execution of a Contract Termination Agreement with Arch
Insurance Company and Veruna LLC, by David J. Kaptain, Mayor, and Kimberly A. Dewis, City
Clerk,regarding a Contract Completion Agreement Waterford Subdivision Neighborhood 3,a copy
of such Contract Termination Agreement being attached hereto and made a part hereof by reference.
David J. Kaptain, Mayor
Presented: September 28, 2011
Adopted:
Vote: Yeas Nays:
Recorded:
Attest:
Kimberly A. Dewis, City Clerk
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CONTRACT TERMINATION
This contract termination agreement is entered into as of this 22nd day of September, 2011,
by and among The City of Elgin, Illinois ("Elgin"), Arch Insurance Company ("Arch") and Veruna
LLC ("Veruna").
WHEREAS, Elgin, Arch and Veruna entered into a Contract Completion Agreement dated
August 17, 2011 for the completion by Veruna of specified sewer work related to Kimball Hill's
development of the Waterford Subdivision, Neighborhood 3 ("Veruna Contract Completion
Agreement");
WHEREAS, Veruna is unable to meet the bonding requirements of the Veruna Contract
Completion Agreement;
WHEREAS, Orange Crush, LLC ("Orange Crush") has entered into an agreement with
Elgin and Arch to perform Veruna's work under the Veruna Contract Completion Agreement;
WHEREAS, Veruna has entered into an agreement with Orange Crush to perform such
work as a subcontractor to Orange Crush;
NOW THEREFORE, in consideration of the foregoing recitals and agreements, Elgin,
Arch and Veruna agree to terminate the Contract Completion Agreement, each party releasing the
others from any and all obligations there under.
This contract termination agreement may be executed in counter-parts by the parties hereto,
and electronically transmitted signatures shall have the same legal effect as original signatures.
IN WITNESS WHEREOF, the parties have affixed their signatures as of the date first
above written.
CITY OF LGIN,ILLINOIS
Attest:
By: .4 ' _JA!rq .' II
(cwt./i -'-L/ �� Its: Mayor
City Clerk
ARCH INSURANCE COMPANY
By:
Its:
VERNUNA, LLC
By:
Its:
F:\Legai Dept\Agreement\Termination Agr-Arch Ins-Veruna-WAC.doc