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17-128 Resolution No. 17-128 RESOLUTION AUTHORIZING EXECUTION OF AMENDMENT TO REAL ESTATE AGREEMENT WITH COLUMBINE HOMEOWNERS ASSOCIATION FOR THE REMOVAL AND INSTALLATION OF STOP SIGNS BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that David J. Kaptain, Mayor, and Kimberly A. Dewis, City Clerk, be and are hereby authorized and directed to execute Amendment to Real Estate Agreement on behalf of the City of Elgin with Columbine Homeowners Association for the removal and installation of stop signs, a copy of which is attached hereto and made a part hereof by reference. s/David J. Kaptain David J. Kaptain; Mayor Presented: September 27, 2017 Adopted: September 27, 2017 Vote: Yeas: 8 Nays: 0 Abstain: 1 Attest: s/ Kimberly Dewis Kimberly Dewis, City Clerk AMENDMENT TO REAL ESTATE AGREEMENT This Amendment to Real Estate Agreement ("Amendment Agreement") is made and entered into this 27 day of September ,2017,by and between the City of Elgin, Illinois,an Illinois municipal corporation(hereinafter referred to as the "City") and the Columbine Homeowners Association, an Illinois not-for-profit corporation, organized and existing under the laws of the State of Illinois (hereinafter referred to as the "Association"). WHEREAS, the City and the Association previously entered into a real estate agreement dated May 23, 2017 (hereinafter referred to as the "Subject Agreement"); and WHEREAS, Section 26(g) of the Subject Agreement provides for the City to adopt ordinances and provide for the installation of all way stop signs at three intersections in the Columbine Subdivision consisting of Columbine Drive and Fox Glove Court; Columbine Drive and Sweet Clover Court; and Columbine Drive and Mountain Laurel Court; and WHEREAS, the Association has requested and the City has agreed to amend the Subject Agreement to provide for the deletion of the requirement of the north and south stop signs at the intersection of Columbine Drive and Mountain Laurel Court and the north and south stop signs at the intersection of Columbine Drive and Fox Glove Court and for the removal of such stop signs, and to add additional stop signs for northbound and southbound Red Barn Lane at the intersection of Sweet Clover Court. NOW THEREFORE, for and in consideration of the mutual undertakings as set forth in the Subject Agreement, and mutual undertakings set forth in this Amendment Agreement, and. other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 1. At Section 26(g) of the Subject Agreement is hereby amended to read as follows: "The City agrees to adopt ordinances and to provide for the installation of stop signs at the following intersections in the Columbine Subdivision: stop signs for northbound and southbound Red Barn Lane at the intersection of Sweet Clover Court; all way stop signs at the intersection of Columbine Drive and Sweet Clover Court; a stop sign for westbound Mountain Laurel Court at Columbine Drive; and a stop sign for westbound Fox Glove Court at Columbine Drive." 2. That for the purpose of clarification, as a result of the foregoing amendment to Section 26(g)of the Subject Agreement, it is agreed and understood that the City will be providing for the removal of the previously agreed to two (2) north and south facing stop signs for northbound and southbound Columbine Drive at Mountain Laurel Court, and the removal of the two(2)north and south facing stop signs for northbound and southbound Columbine Drive at Fox Glove Court. 3. That in the event of any conflict between the terms of this Amendment Agreement, and the Subject Agreement, the terms of this Amendment Agreement shall supersede and control. • ' .'t: -. e '' � •>. � � � ,� . .. � � i, .� � 3 1. i � _ �. - � i 4. That as except as amended in this Amendment Agreement, the Subject Agreement shall otherwise remain in full force and effect. IN WITNESS WHEREOF, the parties hereto have entered into and executed this Amendment Agreement as of the date near first written above. CITY OF ELGIN COLUMBINE HOMEOWNERS ASSOCIATION By: By: David J. Kaptafh, Ma6or Its: A e Attest: Its: ` C Kimberly Dewis, Ca Cler FALegal Dept\Real Estat6RE-Contract-Columbine-Lot 119-Amendment 8-22-17.docx 2