Ordinance 2013-27 i
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UNITED CITY OF YORKVILLE
KENDALL COUNTY, ILLINOIS
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ORDINANCE NO , 2013-27
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AN ORDINANCE APPROVING A DEVELOPMENT AGREEMENT
FOR KENDALL CROSSING, YORKVILLE, ILLINOIS
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Passed by the City Council of the
United City of Yorkville, Kendall County, Illinois
This 16`x' day of May, 2013
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Published in pamphlet form by the
authority of the Mayor and City Council
of the United City of Yorkville, Kendall
County, Illinois on June 3 , 2013 .
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Ordinance No . 2013-
AN ORDINANCE APPROVING A DEVELOPMENT AGREEMENT
FOR KENDALL CROSSING, YORKVILLE, ILLINOIS
WHEREAS , by Ordinance No . 2005 - 10A, adopted by the Mayor and City Council of the
United City of Yorkville (the " Corporate Authorities") on February 8 , 2005 , a Tax Increment
Financing Redevelopment Project and Plan for the US Route 34 and Illinois Route 47
(Countryside Shopping Center) (hereinafter the "Redevelopment Plan") was approved, which
Redevelopment Plan covered an area of approximately 19 acres of commercial property (the
"Subject Property") which was improved with a retail shopping center in a serious state of
disrepair and having a significant number of vacancies ; and,
WHEREAS , by Ordinance No . 2005 - 1OB and No . 2005 - 1OC adopted by the Corporate
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Authorities on February 15 , 2005 , the City designated the Subject Property as a "redevelopment
project area" after a determination that it was a "blighted area" and, due to its eligibility,
and adopted tax increment financing pursuant to the Tax Increment Allocation Redevelopment
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Act (65 ILCS 5/ 11 -74 .4- 1 et seq . ) (hereinafter referred to as the "Act") ; and,
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WHEREAS, after acquisition of the property and demolition of all structures on the
Subject Property, a prior owner was unable to proceed with a redevelopment thereof and in 2010,
after foreclosing on the Subject property, the current titleholder entered into a contract to convey j
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the Subject Property to James G . Ratos of Yorkville, who has advised the City of his desire to
develop the now vacant Subject ` Property on the condition that the City agrees to assist with the
cost of acquisition of the Subject Property and other financial incentives as hereinafter set forth
in order to make the redevelopment of the Subject Property economically viable ; and,
WHEREAS , pursuant to the Illinois Municipal Code, 65 ILCS 511 - 1 - 1 , et seq . (the
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" Code") , as from time to time amended, and, more specifically, Sec . 8 - 1 -2 . 5 of the Code (the
Ordiance No . 2013 - a7
Page 2
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"Economic Development Act"), the Corporate Authorities are empowered to appropriate and
expend funds for economic development purposes including the making of grants to any
commercial enterprise as deemed necessary for the promotion of economic development; and,
WHEREAS , the Developer has been advised that pursuant to Ordinance No . 2008 - 101 ,
adopted November 25 , 2008 , and amended by Ordinance Number 2009- 15 , adopted March 24,
2009, the Corporate Authorities designated the Subject Property a "Business District" in
accordance with the Business District Development and Redevelopment Law (65 ILCS 5111 -
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74 . 3 et seq . ) (the "Business District Act") and adopted a development or redevelopment plan and
imposed a one percent ( 1 %) business district retailers ' occupation tax and a one percent ( 1 %)
business district service occupation tax ("Business District Taxes") to pay business district
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project costs including the planning, execution and implementation of an approved business
district plan ; and,
WHEREAS , the Developer has also requested that the Business District Taxes available
to the City as a result of the adoption of the Business District Act, be used to reimburse the
Developer for development costs as permitted by the Business District Act, and that a portion of
the City' s amusement tax of three percent (3 %) be applied to the costs of site improvements at
the Subject Property; and,
WHEREAS , the City is prepared to assist the Developer as requested but only in
accordance with the terms and conditions as set forth in the Development Agreement for Kendall
Crossings of Yorkville attached hereto and made a part hereof. j
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Ordiance No . 2013- c9 7
Page 3
BE IT ORDAINED by the Mayor and City Council of the United City of Yorkville,
Kendall County, Illinois, that the Development Agreement for Kendall Crossing, Yorkville,
Illinois, by and between the City and James G . Ratos of Yorkville, Illinois, in the form attached
hereto and made a part hereof, is approved and the Mayor and City Clerk are hereby authorized
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to execute said Development Agreement and the City Administrator is authorized to undertake
such action as may be required to implement its terms .
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That Ordinance No . 2012-41 passed on October 23 , 2012 , approving a prior
Development Agreement with James G . Ratos of Yorkville is hereby repealed and said prior
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Development Agreement is cancelled as never having been approved by this City Council .
This Ordinance shall be in full force and effect immediately upon its passage by the
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Mayor and City Council and approval as provided by law.
l Passed by the City Council of the United City of Yorkville, Kendall County, Illinois, this
day of Gt , A. D . 2013 ,
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CHRIS FUNKHOUSER �--" LARRY KOT
1�CARLO COLOSIMO � DIANE TEELING
JACKIE MILSCHEWSKI JOEL FRIEDERS
�r
ROSE SPEARS � KEN KOCH
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APPROVED by me, as Mayor of the United City of Yorkville, Kendall County, Illinois,
this 20 day of MAY , A. D . 2013 .
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Mayor
Attest:
City Clerk
Ordiance No. 2013 - off ?
Page 4
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DEVELOPMENT AGREEMENT FOR
KENDALL CROSSING, YORKVILLE, ILLINOIS
THIS AGREEMENT dated as of the 30 day of MAY , 2013 , by and
between the United City of Yorkville, Kendall County, Illinois, a municipal corporation
(hereafter the "City") and James G . Ratos of Yorkville, Illinois (hereafter "Developer") .
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WITNESSETH :
WHEREAS, by Ordinance No . 2005 - 1OA, adopted by the Mayor and City Council of the
City (the "Corporate Authorities") on February 8 , 2005 , a Tax Increment Financing
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Redevelopment Project and Plan for the US Route 34 and Illinois Route 47 (Countryside
Shopping Center) (hereinafter the "Redevelopment Plan") was approved, which Redevelopment
Plan covered an area of approximately 19 acres legally described on Exhibit A attached hereto
and made a part hereof, the boundary of which is depicted on Exhibit B also attached hereto and
made a part hereof, as of said date being improved as a commercial shopping center with j
approximately 158 ,000 square feet of retail space on approximately 17 acres of land owned by T-
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L Countryside LLC, a Delaware limited liability company (the "Prior Owner"), plus
approximately two (2) acres of adjacent right of way within State Route 47 (the "Subject
Property") ; and,
WHEREAS , by Ordinance No . 2005 - JOB and No . 2005 - IOC adopted by the Corporate
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Authorities on February 15 , 2005 , the City designated the Subject Property as a "redevelopment
project area" and adopted tax increment financing pursuant to the Tax Increment Allocation
Redevelopment Act (65 ILCS 5/ 11 -74 . 4- 1 et seq . ) (hereinafter referred to as the "Act") ; and,
WHEREAS , in order to induce the development of the Subject Property by the Prior
Owner, the City issued tax exempt alternative revenue bonds in an amount which provided net
proceeds of Three Million Dollars ($3 ,000, 000) after funding for capitalized interest and
payment of all bond issuance costs, which net proceeds were to be available to assist with the
redevelopment of the Subject Property (the "Bond Proceeds") ; and,
WHEREAS , the Prior Owner proceeded with the redevelopment of the Subject Property
and demolished all of the structures comprising the commercial shopping center located thereon
but was unable to proceed any further due to the inability to find a commercial user in a
declining economy; and,
WHEREAS, the Prior Owner ultimately lost its ownership interest in the Subject
Property to its mortgagee (the "Lender") after receiving $ 500,000 of reimbursement from the
City from the Bond Proceeds for the cost of demolition; and,
WHEREAS , after foreclosing on the Subject Property in 2010, the Lender has now
entered into a contract to convey the Subject Property to the Developer and the Developer has
advised the City of his desire to develop the now vacant Subject Property on the condition that
the balance of the Bond Proceeds be used to assist with the cost of acquisition of the Subject
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Property and that the City grants other financial incentives as hereinafter set forth in order to
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make the redevelopment of the Subject Property economically viable ; and,
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WHEREAS, pursuant to the Illinois Municipal Code, 65 ILCS 511 - 1 - 1 , et seq. (the
"Code"), as from time to time amended, and, more specifically, Sec . 8 - 1 -2 . 5 of the Code (the
"Economic Development Act"), the Corporate Authorities are empowered to appropriate and
expend funds for economic development purposes including the making of grants to any
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commercial enterprise as deemed necessary for the promotion of economic development; and,
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WHEREAS, the Developer has been advised that pursuant to Ordinance No . 2008- 101 ,
adopted November 25 , 2008 , and amended by Ordinance Number 2009- 15 , adopted March 24,
2009, the Corporate Authorities designated the Subject Property a "Business District" in
accordance with the Business District Development and Redevelopment Act (65 ILCS 5/ 11 -743
et seq . ) (the "Business District Act") and adopted a development or redevelopment plan and
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imposed a one percent ( 1 %) business district retailers ' occupation tax and a one percent ( 1 %)
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business district service occupation tax ("Business District Taxes") to pay business district
project costs including the planning, execution and implementation of an approved business
district plan; and,
WHEREAS, the Developer has requested : (i) the balance of the Bond Proceeds be used
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to assist with his cost to acquire the Subject Property; (ii) the Business District Taxes available to
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the City as a result of the Business District Act, be used to reimburse the Developer for
development costs as permitted by the Business District Act; and, (iii) a portion of the City' s
amusement tax of three percent (3 %) be applied to the costs of site improvements at the Subject
Property; and, j
WHEREAS, the City is prepared to assist the Developer as requested but only in
accordance with the terms and conditions hereinafter set forth and only after the City approves
the plan for development because the City recognizes that the development of the Subject
Property is of vital importance to the City given its strategic location near the intersection of two
primary commercial corridors of the City,
NOW, THEREFORE, for and in consideration of the premises and the mutual
covenants hereinafter set forth, the parties agree as follows :
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Section 1. Preambles . The foregoing preambles are hereby incorporated into this
Agreement as if fully restated in this Section 1 . j
Section 2. Developer 's Obligations.
A . The Developer has filed a Planned Unit Development concept plan for the
development of the Subject Property which provides for the construction of a new 38 ,500 square
foot cinema complex covering approximately seven (7) acres of the Subject Property (the
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"Cinema Complex") , which shall be reviewed and shall require consideration of the following
items :
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1 . Variance in required parking spaces from the required 662 to 418 spaces;
2 . Need for one shade tree for every twenty (20) parking spaces in interior
landscaped medians of 190 square feet;
3 . Variance from the required 2 loading docks to one loading dock;
40 Authorization to vary from the Subdivision Control Ordinance and
stormwater management requirements, subject to the review of final engineering plans
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and the recommendation(s) of the City Engineer. ,
B . On or before March 31 , 2013 , the Developer shall have amended the proposed
plan to include all required changes and have received approval from the City of a Final Plat for
a planned unit development and have been issued any and all required permits from the City and
any other governmental agency having jurisdiction over the Subject Property to commence
development of the Cinema Complex to house a ten ( 10) screen cinema and all site
improvements, including, but not limited to, storm management, landscaping, parking lot,
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lighting and walkways, as depicted on the approved Final Plat (collectively, hereinafter referred j
to as the ' rojec(") .
C . Simultaneously with the recordation of the Final Plat for the planned unit
development, the Developer shall have deposited with the City security in the form of a letter of
credit or performance bond in the amount as required by the City' s Code of Ordinance to
guarantee completion of all public improvements inclusive of a public improvement completion
("pie") schedule as required for all new subdivisions per the amended subdivision control
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ordinance at the Subject Property,
D . On or before March 31 , 2013 , the Developer shall deliver to the City proof of the
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Developer ' s contract to convey the Cinema Complex to Neighborhood Cinema Group of
Owosso, Michigan, who shall operate the ten ( 10) screen cinema (hereinafter "NCG") .
E. On or before July 31 , 2013 , the Developer shall deliver proof of conveyance of
the Cinema Complex to NCG who shall commence operation of the Cinema Complex with ten
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( 10) screens on or before March 31 , 2014 .
F . On or before December 31 , 2013 , the Developer shall have completed
construction of the Project in accordance with all permits as issued in conjunction with the
approved Final Plat for a planned unit development.
G. On or before March 31 , 2014, the Developer shall have been issued a certificate
of occupancy from the City.
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Section 3. Obligations on the part of the City.
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A . Upon issuance of a certificate of occupancy for the Cinema Complex at the
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Subject Property, the City agrees to reimburse the Developer $2, 000 , 000 for a portion of the cost
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of acquisition of the Subject Property payable as follows : (i) $ 1 , 800 ,000 ; and (ii) the difference
between said payment and $2,000,000, being $200 ,000 , payable to the Developer from fifty
percent (50%) of the three percent (3 %) of the City' s amusement tax receipts from the operation
of the Cinema Complex at the Subject Property required to be collected by the operator of said
amusement pursuant to Chapter 4, Article D of the City' s Code of Ordinances (the "Amusement
Tax") . Payments by the City shall be made in accordance with the procedures as set forth in
Section IV of this Agreement.
B . So long as no notice of an event of default has been issued to the Developer and
remains outstanding, the City further agrees to reimburse the Developer for Business District
Project Costs, as hereinafter defined, from the Business District Taxes generated from the
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Subject Property commencing with the date of issuance of a certificate of occupancy and
terminating upon the termination of the designation of the Subject Property as a business district
under the Business District Act. Payment by the City shall be made to the Developer in
accordance with the procedures hereinafter set forth in Section IV .
C . So long as no notice of an event of default has been issued by the City to the
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Developer and remains outstanding, the City shall rebate to the Developer fifty percent (50%) of
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the three percent (3 %) of the Amusement Tax generated from the operation of the Cinema
Complex at the Subject Property. Payments of fifty percent (50%) of the three percent (3 %)
Amusement Tax shall be paid to the Developer in accordance with the provisions of Section IV
hereof commencing on the date of the issuance of a certificate of occupancy for the Cinema
Complex and continue until the 10th anniversary of said date of occupancy .
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D . For purposes of this Agreement, "Business District Project Costs" shall mean and
include all costs defined as "business district project costs" in Section 11 -74 . 3 -5 of the Business
District Act which are eligible for reimbursement under the Business District Act. The parties
acknowledge that the determination of Business District Project Costs and qualification for
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reimbursement from Business District Taxes under this Agreement are subject to the Business
District Act, all amendments to the Business District Act both before and after the date of this
Agreement, and all administrative rules and judicial interpretations rendered during the term of
this Agreement. The City has no obligation to the Developer to attempt to modify said rules or
decisions but will cooperate with the Developer in obtaining approval of Business District
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Project Costs . j
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Section 9. Deposits and Disbursements from the Business District Tare Allocation Fund.
A. In connection with the administration of the Subject Property designated as a
"business district" under the Business District Act, the City has established the Business District
Tax Allocation Fund (the "BDD Fund") into which the City shall deposit all Business District
Taxes generated from the operation of any business located on the Subject Property for so long
as the Subject Property remains designated as a business district and, for a period of ten ( 10)
years commencing with the date of the issuance of a certificate of occupancy for the Cinema
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Complex on the Subject Property, fifty percent (50%) of the Amusement Tax generated from the
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Cinema Complex operating at the Subject Property which shall be used to reimburse the
Developer for Business District Project costs in accordance with the procedures hereinafter set
forth.
B . To establish a right of reimbursement for Business District Project Costs under
this Agreement the Developer shall submit to the City a written statement in the forin attached to
this Agreement as Exhibit C (a "Request for Reimbursement") setting forth the amount of
reimbursement requested and the specific Business District Project Costs for which
reimbursement is sought. Each Request for Reimbursement shall be accompanied by such bills,
contracts, invoices, lien waivers or other evidence as the City shall reasonably require to
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evidence that reimbursement requests shall include only such costs which are Business District
Project Costs which have been incurred by the Developer in connection with the development of
the approved Final Plat for the Subject Property, which Final Plat, from time to time, may be
amended. The City Administrator shall have thirty (30) days after receipt of any Request for
Reimbursement from the Developer to recommend to the City Finance Director approval or
disapproval of such Request and, if disapproved, to provide the Developer, in writing and in
detail, an explanation as to why the City is not prepared to recommend such reimbursement. The
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only reasons for disapproval of any expenditure for which reimbursement is sought shall be that
(i) it is not an eligible Business District Project Cost under the Business District Act; (ii)
inadequate documentation has been provided to substantiate such expenditure; or, (iii) it was not
constructed and completed by the Developer in accordance with all applicable City Code
requirements and the provisions of this Agreement, including, without limitation, all approved
permits The parties acknowledge that the determination of Business District Project Costs and
qualification for reimbursement under this Agreement are subject to the Business District Act, all
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amendments to the Act both before and after the date of this Agreement, and all administrative
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rules and judicial interpretations rendered during the term of this Agreement. The City has no
obligation to the Developer to attempt to modify said rules or decisions but will cooperate with
the Developer in obtaining approval of Business District Project Costs .
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C . Payments shall be made quarterly to the Developer from the BDD Fund, i . e . ,
March 31 , June 30, September 30 and December 31 of each year so long as this Agreement is in
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full force and effect. To the extent insufficient funds are available in the BDD Fund to pay the
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amount approved, any Business District Project Cost not reimbursed shall be reimbursed from
future deposits to the BDD Fund and disbursed to the Developer with the next quarterly
payment.
D . In addition to the foregoing, the City shall further distribute to the Developer on a
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quarterly basis, so long as no notice of default has been issued to the Developer by the City and
remains outstanding, fifty percent (50%) of the three percent (3 %) Amusement Tax received by
the City as a result of the operation of the Cinema Complex at the Subject Property. Payments of
this fifty percent (50%) of the three percent (3 %) shall be made until the difference between an
amount equal to $2,000, 000 and the amount of Bond Proceeds paid to the Developer upon
issuance of the certificate of occupancy, shall have been disbursed to the Developer.
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Section S. Undertakings on the Part of Developer.
A. The Developer hereby covenants and agrees to promptly pay, as the same become
due, any and all taxes and governmental charges of any kind that may at any time be assessed
with regard to its operation including all real estate taxes assessed against the Subject Property or
any other location in the City owned or controlled by the Developer.
B . The Developer shall indemnify and hold harmless the City, its agents, officers and
employees against all injuries, deaths, losses, damages , claims , suits, liabilities, judgments, costs
and expenses (including any liabilities, judgments , costs and expenses and reasonable attorney' s
fees) which may arise directly or indirectly from any third-party claims made against the City as
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a result of the failure of the Developer or any contractor, subcontractor or agent or employee
thereof (so long as such contractor, subcontractor or agent or employee thereof is hired by the
Developer) to timely pay any contractor, subcontractor, laborer or material men ; from any
default or breach of the terms of this Agreement by the Developer; or from any negligence or
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reckless or willful misconduct of the Developer or any contractor, subcontractor or agent or
employee thereof (so long as such contractor, subcontractor or agent or employee is hired by the
Developer) . The Developer shall, at its own cost and expense, appear, defend and pay all
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charges of attorneys, costs and other expenses arising therefrom or incurred in connection
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therewith. If any judgment shall be rendered against the City, its agents , officers, officials or
employees in any such action, the Developer shall , at its own expense, satisfy and discharge the
same. The paragraph shall not apply, and the Developer shall have no obligation whatsoever,
with respect to any acts of negligence or reckless or willful misconduct on the part of the City or
any of its officers, agents, employees or contractors ,
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Section 6. Term . Unless earlier terminated pursuant to Section 18 , the term of this
Redevelopment Agreement shall commence on the date of execution and end December 31 ,
2031 (the " Termination Date ") .
Section 7 Verification of Sales Taxes, The Developer shall use its best efforts to
cooperate with the City in obtaining certified copies of its reports to the Illinois Department of
Revenue of all remittances of all sales and service taxes .
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Section 8. No Liability of City for Others for Developer 's Expenses. The City shall
have no obligation to pay costs of the Project or to make any y payments to any person other than
the Developer, nor shall the City be obligated to pay any contractor, subcontractor, mechanic, or
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material man providing services or materials to the Developer for the development of the Project.
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The Developer agrees to comply with the Illinois Prevailing Wage Act, 820 ILCS 130/0 . 01 et
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seq . , as may be required.
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Section 9. Time; Force Majenre. Time is of the essence of this Redevelopment
Agreement, provided, however, a party shall not be deemed in material breach of this
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Redevelopment Agreement with respect to any obligations of this Redevelopment Agreement on
such party ' s part to be performed if such party fails to timely perform the same and such failure
is due in whole or in part to any strike, lock-out, labor trouble (whether legal or illegal), civil
disorder, weather conditions, failure or interruptions of power, restrictive governmental laws
and regulations, condemnations, riots, insurrections, acts of terrorism, war, fuel shortages,
accidents , casualties, floods, earthquakes, fires , acts of God, epidemics, quarantine restrictions,
freight embargoes, acts caused directly or indirectly by the other party (or the other party ' s
agents, employees or invitees) or similar causes beyond the reasonable control of such party
( "Force Majeure ") . If one of the foregoing events shall occur or either party shall claim that
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such an event shall have occurred, the party to whom such claim is made shall investigate same
and consult with the party making such claim regarding the same and the party to whom such
claim is made shall grant any extension for the performance of the unsatisfied obligation equal to
the period of the delay, which period shall commence to run from the time of the commencement
of the Force Majeure; provided that the failure of performance was reasonably caused by such
Force Majeure.
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Section 10. Assignment, This Redevelopment Agreement may not be assigned by the
Developer without the prior written consent of the City, which consent shall not be unreasonably
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withheld.
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Section 11. Waiver. Any party to this Redevelopment Agreement may elect to waive
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any remedy it may enjoy hereunder, provided that no such waiver shall be deemed to exist unless
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the party waiving such right or remedy does so in writing. No such waiver shall obligate such
party to waive any right or remedy hereunder, or shall be deemed to constitute a waiver of other
rights and remedies provided said party pursuant to this Redevelopment Agreement.
Section 12. Severability. If any section, subsection, term or provision of this
Redevelopment Agreement or the application thereof to any party or circumstance shall, to any
extent, be invalid or unenforceable, the remainder of said section, subsection, term or provision
of this Redevelopment Agreement or the application of same to parties or circumstances other
than those to which it is held invalid or unenforceable, shall not be affected thereby.
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Section 13. Notices. All notices, demands, requests, consents, approvals or other
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instruments required or permitted by this Redevelopment Agreement shall be in writing and shall
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be executed by the party or an officer, agent or attorney of the party, and shall be deemed to have
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been effective as of the date of actual delivery, if delivered personally, or as of the third (3 `d) day
from and including the date of posting, if mailed by registered or certified mail, return receipt
requested, with postage prepaid, addressed as follows :
To the Developer, James G. Ratos
207 W Kendall Drive
Yorkville, IL 60560
With a copy to : Daniel J . Kramer, Attorney
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1107A South Bridge Street
Yorkville, IL 60560
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To the City: United City of Yorkville
800 Game Farm Road
Yorkville, Illinois 60560
Attention : City Administrator
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With a copy to: Kathleen Field Orr
Kathleen Field Orr & Associates
53 West Jackson Blvd. , Suite 935
Chicago, Illinois 60604
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Section 14. Successors in Interest. This Redevelopment Agreement shall be binding
upon and inure to the benefit of the parties to this Redevelopment Agreement and their
respective successors and assigns .
Section 15. No Joint Venture, Agency or Partnership Created. Neither anything in this
Redevelopment Agreement nor any acts of the parties to this Redevelopment Agreement shall be j
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construed by the parties or any third person to create the relationship of a partnership, agency, or
joint venture between or among such parties .
Section 16. Warranties and Covenants of the Developer.
A. The Developer hereby covenants and agrees to promptly pay, as the same become
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due, any and all taxes and governmental charges of any kind that may at any time be lawfully
assessed including all real estate taxes assessed against the Subject Property or any other location
in the City owned or controlled by the Developer.
B . The Developer covenants and agrees that at all times it shall comply with all
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applicable zoning ordinances and regulations, building code, fire code and all other City
ordinances, resolutions and regulations .
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C . The Developer hereby covenants and agrees to comply with all applicable laws,
rules and regulations of the State of Illinois, the United States and all agencies of each of them
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having jurisdiction over it. (,
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Section 17. No Discrimination — Construction . The Developer for himself and his
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successors and assigns agrees that in the construction of the improvements at the Subject
Property provided for in this Redevelopment Agreement the Developer shall not discriminate
against any employee or applicant for employment because of race, color, religion, sex or
national origin. The Developer shall take affirmative action to require that applicants are
employed and that employees are treated during employment, without regard to their race, creed,
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color, religion, sex or national origin. Such action shall include, but not be limited to, the
following : employment upgrading, demotion or transfer; recruitment or recruitment advertising
and solicitations or advertisements for employees ; layoff or termination; rates of pay or other
forms of compensation; and selection for training, including apprenticeship . The Developer
agrees to post in conspicuous places, available to employees and applicants for employment,
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notices, which may be provided by the City, setting forth the provisions of this nondiscrimination
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clause.
Section 18. Remedies — Liability,
A. If, in the City ' s judgment, the Developer is in material default of this
Redevelopment Agreement, the City shall provide the Developer with a written statement
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indicating in adequate detail any failure on the Developer ' s part to fulfill its obligations under j
this Redevelopment Agreement. Except as required to protect against further damages, the City
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may not exercise any remedies against the Developer in connection with such failure until thirty
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(30) days after giving such notice. If such default cannot be cured within such thirty (30) day
period, such thirty (30) day period shall be extended for such time as is reasonably necessary for
the curing of the same, so long as the Developer diligently proceed with such cure ; if such
default is cured within such extended period, the default shall not be deemed to constitute a
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breach of this Redevelopment Agreement. A default not cured as provided above shall constitute
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a breach of this Redevelopment Agreement. Any failure or delay by the City in asserting any of
its rights or remedies as to any default or alleged default or breach shall not operate as a waiver
of any such default or breach of any rights or remedies it may have as a result of such default or
breach.
B . If the Developer materially fails to fulfill his obligations under this
Redevelopment Agreement after notice is given by the City and any cure periods described in
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paragraph (a) above have expired, the City may elect to terminate this Redevelopment
Agreement or exercise any right or remedy it may have at law or in equity, including the right to
specifically enforce the terms and conditions of this Redevelopment Agreement. If any
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voluntary or involuntary proceeding in any court or tribunal shall be instituted to declare the
Developer insolvent or unable to pay the Developer ' s debts, or the Developer makes an
assignment for the benefit of its creditors, or a trustee or receiver is appointed for either one of
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the Developer or for the major part of the Developer ' s property, the City may elect, to the extent
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such election is permitted by law and is not unenforceable under applicable federal bankruptcy
laws, but is not required, with or without notice of such election and with or without entry or
other action by the City, to forthwith terminate this Redevelopment Agreement under this
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Section, the City' s sole obligation shall be to record, in the office of the Kendall County
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Recorder, a Certificate of Default, executed by the Mayor of the City other Y or suc person as
shall be designated by the City, stating that this Redevelopment Agreement is terminated
pursuant to the provisions of this Section, in which event this Redevelopment Agreement by
virtue of the recording of such certificate, shall ipso facto automatically become null and void
and of no further force and effect.
CO If, in the Developer ' s judgment, the City is in material default of this
Redevelopment Agreement, the Developer shall provide the City with a written statement
indicating in adequate detail any failure on the City ' s part to fulfill its obligations under this
Redevelopment Agreement. The Developer may not exercise any remedies against the City in
connection with such failure until thirty (30) days after giving such notice. If by its nature such
default cannot reasonably be cured within such thirty (3 0) day period, such thirty (3 0) day period
shall be extended for such time as is reasonably necessary for the curing of the same, so long as
the City diligently proceeds with such cure; if such default is cured within such extended period,
the default shall not be deemed to constitute a breach of this Redevelopment Agreement. A
default not cured as provided above shall constitute a breach of this Redevelopment Agreement.
Any failure or delay by the Developer in asserting any of their rights or remedies as to any
default or any alleged default or breach shall not operate as a waiver of any such default or
breach of shall not operate as a waiver of any such default or breach of an rights Y r g or remedies it
may have as a result of such default or breach.
D. In addition to any other rights or remedies, a party may institute legal action
against the other party to cure, correct or remedy any default, or to obtain any other remedy
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consistent with the purpose of this Redevelopment Agreement, either at law or in equity,
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including, but not limited to the equitable remedy of an action for specific performance;
provided, however, no recourse under or upon any obligation contained herein or for any claim
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based thereon shall be had against the City, its officers, agents, attorneys, representatives or
employees in any amount or in excess of any specific sum agreed to be paid by the City
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hereunder, and no liability, right or claim at law or in equity shall be attached to or incurred by
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the City, its officers, agents, attorneys, representatives or employees in any amount in excess of
any specific sums agreed by the City to be paid hereunder and any such claim is hereby
expressly waived and released as a condition of and as consideration for the execution of this
Redevelopment Agreement by the City. Notwithstanding the foregoing, in the event either party
shall institute legal action against the other party because of a breach of any Redevelopment
Agreement or obligation contained in this Redevelopment Agreement, the prevailing party shall
be entitled to recover all costs and expenses, including reasonable attorneys ' fees, incurred in
connection with such action.
E. The rights and remedies of the parties are cumulative and the exercise by a party
of one or more of such rights or remedies shall not preclude the exercise by it, at the same time
or different times, of any other rights or remedies for the same default or for any other default by
the other party.
Section 19. Amendment. This Redevelopment Agreement, and any exhibits attached to
this Redevelopment Agreement, may be amended only in a writing signed by all the parties with
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the adoption of any ordinance or resolution of the City approving said amendment, as provided
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by law, and by execution of said amendment by the parties or their successors in interest. Except
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as otherwise expressly provided herein, this Redevelopment Agreement supersedes all prior
Redevelopment Agreements, negotiations and discussions relative to the subject matter hereof.
Section 20. Couuteiparts. This Redevelopment Agreement may be executed in two or
more counterparts, each of which shall be deemed an original but all of which together shall
constitute one and the same instrument.
IN WITNESS WHEREOF, the parties hereto have caused this Redevelopment
Agreement to be executed by their duly authorized officers on the above date at Yorkville,
Illinois.
United City of Yorkville, an Illinois
municipal corporation
By: u
Mayor
Attest:
City Clerk
James G. Ratos
By:
Attest:
Secretary
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Exhibit A
Subject Property
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Legal Description
THAT PART OF LOT 7 OF THE RESUBDIVISION OF PART OF BLOCK 1 OF COUNTRYSIDE
CENTER UNIT NO . 1 IN THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS
ACCORDING TO THE PLAT THEREOF RECORDED AS DOCUMENT NUMBER 79 - 1982 BEING
DESCRIBED BY COMMENCING AT THE SOUTHEAST CORNER OF SAID LOT 7; THENCE
NORTH 04 DEGREES 45 MINUTES 00 SECONDS EAST ALONG THE EAST LINE OF SAID LOT
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7, ALSO BEING THE WESTERLY RIGHT OF WAY LINE OF ILLINOIS ROUTE NO . 47, A
DISTANCE OF 90 . 00 FEET FOR THE POINT OF BEGINNING; THENCE NORTH 80 DEGREES 58
MINUTES 11 SECONDS WEST PARALLEL WITH THE SOUTHERLY LINE OF SAID LOT 79 A
DISTANCE OF 140 . 35 FEET; THENCE SOUTH 70 DEGREES 02 MINUTES 01 SECONDS WEST, A
DISTANCE OF 185 . 14 FEET TO A POINT OF BEND IN SAID LOT 7 ; THENCE SOUTH 04
DEGREES 45 MINUTES 00 SECONDS WEST ALONG THE SOUTHEASTERLY LINE OF SAID
LOT 7 , A DISTANCE OF 14. 60 FEET; THENCE NORTH 85 DEGREES 15 MINUTES 00 SECONDS
WEST A DISTANCE OF 217 . 92 FEET TO A POINT ON THE WESTERLY LINE OF SAID LOT 7 ;
THENCE NORTH 00 DEGREES 18 MINUTES 59 SECONDS EAST ALONG SAID WESTERLY
LINE, A DISTANCE OF 82 . 75 FEET TO A POINT OF BEND IN SAID LOT 7 ; THENCE SOUTH 89
DEGREES 16 MINUTES 11 SECONDS WEST ALONG THE SOUTHERLY LINE OF SAID LOT 75 A
DISTANCE OF 216 . 95 FEET TO THE SOUTHEAST CORNER OF LOT 2 OF SAID
RESUBDIVISION; THENCE NORTH 00 DEGREES 43 MINUTES 49 SECONDS WEST ALONG
THE EAST LINE OF SAID LOT 2 , A DISTANCE OF 94. 00 FEET TO A POINT OF BEND IN SAID
LOT 2; THENCE NORTH 06 DEGREES 56 MINUTES 00 SECONDS EAST ALONG SAID EAST
LINE OF LOT 2, A DISTANCE OF 175 . 56 FEET TO A POINT; THENCE WESTERLY ALONG A
NON TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 32 .0 FEET, A DISTANCE OF
32 .42 FEET TO THE POINT OF TANGENT OF SAID CURVE; THENCE SOUTH 74 DEGREES 06 j
MINUTES 09 SECONDS WEST ALONG SAID TANGENT 214 . 64 FEET TO THE NORTHWEST j
CORNER OF SAID LOT 2 ; THENCE NORTHWESTERLY ALONG THE WEST LINE OF SAID LOT
7 BEING ALONG A CURVE TO THE LEFT HAVING A RADIUS OF 1275 . 00 FEET, A DISTANCE
OF 377 . 77 FEET TO THE POINT OF TANGENT OF SAID CURVE; THENCE NORTH 30 DEGREES
09 MINUTES 10 SECONDS WEST ALONG SAID TANGENT AND THE WEST LINE OF SAID LOT
73 A DISTANCE OF 44 . 10 FEET TO THE SOUTHWEST CORNER OF LOT 3 OF SAID
RESUBDIVISION; THENCE NORTH 70 DEGREES 01 MINUTES 26 SECONDS EAST ALONG THE
SOUTH LINE OF SAID LOT 3 , A DISTANCE OF 276 . 04 FEET TO THE SOUTHEAST CORNER OF
SAID LOT 3 ; THENCE NORTHEAST ALONG A NON TANGENT CURVE HAVING A RADIUS OF
60 . 00 FEET, A DISTANCE OF 59 .49 FEET TO THE POINT OF TANGENT AS SHOWN ON SAID
RESUBDIVISION PLAT; THENCE NORTH 69 DEGREES 56 MINUTES 04 SECONDS EAST
ALONG SAID TANGENT AND THE SOUTH LINE OF LOTS 4 AND 5 OF SAID RESUBDIVISION
317 .47 FEET TO A POINT OF CURVATURE OF A CURVE TO THE LEFT HAVING A RADIUS OF
25 . 00 FEET; THENCE NORTHEASTERLY ALONG SAID CURVE A DISTANCE OF 41 . 53 FEET j
TO THE POINT OF TANGENT OF SAID CURVE BEING THE EASTERLY LINE OF SAID LOT 5 ;
THENCE NORTH 25 DEGREES 14 MINUTES 40 SECONDS WEST ALONG SAID EASTERLY
LINE OF LOT 5 , A DISTANCE OF 159 . 35 FEET TO THE NORTHEAST CORNER THEREOF;
THENCE EASTERLY ALONG A CURVE TO THE RIGHT HAVING A RADIUS OF 2625 . 00 FEET,
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A DISTANCE OF 71 .43 FEET TO THE NORTHWEST CORNER OF LOT 6 OF SAID
RESUBDIVISION; THENCE SOUTHEASTERLY ALONG THE WESTERLY LINE OF SAID LOT 6
BEING ALONG A CURVE TO THE LEFT HAVING A RADIUS OF 40 . 00 FEET, A DISTANCE OF
19 . 49 FEET TO A POINT OF REVERSE CURVATURE; THENCE SOUTHEASTERLY ALONG
SAID WESTERLY LINE OF SAID LOT 6 BEING ALONG A CURVE TO THE RIGHT HAVING A
RADIUS OF 2352 . 00 FEET, A DISTANCE OF 191 .23 FEET TO THE SOUTHWEST CORNER OF
SAID LOT 6 ; THENCE NORTH 70 DEGREES O1 MINUTES 03 SECONDS WEST ALONG THE
SOUTH LINE OF SAID LOT 65 A DISTANCE OF 210 .06 FEET TO A POINT OF BEND IN SAID
LOT 6; THENCE SOUTH 19 DEGREES 57 MINUTES 46 SECONDS EAST ALONG THE
SOUTHWESTERLY LINE OF SAID LOT 6 AND SAID LINE BEING EXTENDED SOUTHERLY, A
DISTANCE OF 445 . 80 FEET; THENCE NORTH 70 DEGREES 02 MINUTES 14 SECONDS EAST, A
DISTANCE OF 141 . 82 FEET TO A POINT ON THE EAST LINE OF SAID LOT 7; THENCE SOUTH
04 DEGREES 45 MINUTEES 00 SECONDS WEST ALONG SAID EAST LINE OF
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LOT 75 A DISTANCE OF 589 . 06 FEET TO THE POINT OF BEGINNING CONTAINING 17 . 7416
ACRES MORE OR LESS IN THE UNITED CITY OF YORKVILLE, KENDALL COUNTY,
ILLINOIS .
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P .I.N.# 02-28 - 104-015
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Exhibit B
Business District Boundaries
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SEC GROUP, INC.
YORKVILLF. BUSINESS C)I,S' TR1C'I °�� .�tin , �w . tECru .}�
(('()UNTHY,S" lDR CPNVTI�' R BUSINESS DISSPRICT) � ,.r
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Exhibit C
REQUEST FOR REIMBURSEMENT
City of Yorkville
Yorkville, Illinois 61490-9999
Re: Redevelopment Agreement dated , by and among the City of Yorkville,
Dear Sir. an Illinois municipal corporation, and James G. Ratos (the "Developer")
You are requested to approve the disbursement of funds from the Sub-Account established by the City of
Yorkville pursuant to the Agreement described above in the amount(s), to the person(s) and for the purpose(s) set
forth in this Request for Reimbursement.
I . Request for Reimbursement No. :
2 . Payment Due to:
3 . Amount to be Disbursed:
4 . The amount requested to be disbursed pursuant to this Request for Reimbursement will be used to
pay Redevelopment Project Costs as defined in the Agreement and as listed on the Schedule to
this Request for Reimbursement.
5 . The undersigned certifies that:
(i) the amounts included in 3 above were made or incurred or financed and were necessary
for the project and were made or incurred in accordance with the construction contracts,
plans and specifications heretofore in effect;
(ii) the amounts paid or to be paid, as set forth in this Request for Reimbursement, represents
a part of the funds due and payable for Business District Project Costs;
(iii) the expenditures for which amounts are requisitioned represent proper Business District
Project Costs identified in the Agreement, have not been included in any previous
Request for Reimbursement, have been properly recorded on the Developer' s books and
are set forth on the attached Schedule, with paid invoices attached for all sums for which
reimbursement is requested;
(iv) the moneys requisitioned are not greater than those necessary to meet obligations due and
payable or to reimburse the Developers for his funds actually advanced for Business
District Project Costs;
(v) the amount of Business District Project Costs to be reimbursed in accordance with this
Request for Reimbursement, together with all amounts reimbursed to the Developer
pursuant to the Agreement, is not in excess of the items listed on Exhibit B ;
(vi) the Developer is not in default under the Agreement and nothing has occurred to the
knowledge of the Developer that would prevent the performance of its obligations under
the Agreement.
6 . Attached to this Request for Reimbursement is Schedule # together with copies of invoices
or bills of sale and Mechanic ' s Lien Waivers covering all items for which reimbursement is being
requested.
Date:
By:
James G . Ratos
Date:
By:
APPROVED :
City of Yorkville, an Illinois municipal corporation j
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