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Ordinance 2006-078
F i I d f R E N 1) A L L 0 11 11-1-11 STATE OF ILLINOIS F"- UL R ss i-, go COUNTY OF KENDALL = 0 Pit FP 3 chutrrAln 200800009248 Eeo P-- T© Filed for Record in KENDALL COUNTY? ILLINOIS RENNETTA S MICKELS13H 04-09-2008 At 03:48 pm. ORDINANCE 91.00 10.00 Surcharge 10.00 ORDINANCE NO. 2006- r7 9- AN ORDINANCE AUTHORIZING THE EXECUTION OF AN ANNEXATION AGREEMENT OF (Chally Farm) WHEREAS, it is prudent and in the best interest of the UNITED CITY OF YORKVILLE, Kendall County, Illinois, that a certain Annexation Agreement pertaining to the annexation of real estate described on the Exhibit "A" attached hereto and made a part hereof entered into by the UNITED CITY OF YORKVILLE; and WHEREAS, said Annexation Agreement has been drafted and has been considered by the City Council; and WHEREAS, the legal owners of record of the territory which is the subject of said Agreement are ready, willing and able to enter into said Agreement and to perform the obligations as required hereunder; and WHEREAS, the statutory procedures provided in 65 ILCS 11- 15.1. as amended, for the execution of said Annexation Agreement has been fully complied with; and Page 1 of 3 WHEREAS, the property is presently contiguous to the City. I I NOW THEREFORE, BE IT ORDAINED BY THE MAYOR AND THE CITY I COUNCIL OF THE UNITED CITY OF YORKVILE, KENDALL COUNTY, ILLINOIS, AS FOLLOWS; Section 1: The Mayor and the City Clerk are herewith authorized and directed to execute, on behalf of the City, an Annexation Agreement concerning the annexation of the real estate described therein, a copy of which Annexation Agreement is attached i hereto and made a part hereof. I Section 2: This ordinance shall be in full force and effect from and after its passage and approval as provided by law. JAMES BOCK IJ� JOSEPH BESCO l� VALERIE BURD ►t PAUL JAMES DEAN WOLFER MARTY MUNNS l� ROSE SPEARS r\. JASON LESLIE MAyoP, P20C4ASKA y Approved by me, as Mayor of the United City of Yorkville, Kendall County, Illinois, this Day of At us r A.D. 2006. roc .Ce�f MAY Page 2 of 3 Passed by the City Council of the United City of Yorkville, Kendall County, Illinois this $ day of -� GCC (.� `J� , A.D. 2006. ATTEST: CITY CLERK Prepared by: John Justin Wyeth City Attorney United City of Yorkville 800 Game Farm Road Yorkville, IL 60560 Page 3 of 3 THIS INSTRUMENT PREPARED BY AND RETURN TO: REVISED August 17, 2006 John Wyeth 800 Game Farm Road Yorkville, Illinois 60560 630.553.4350 ANNEXATION AGREEMENT THE CHALLY SUBDIVISION THIS AMENDMENT TO ANNEXATION AGREEMENT, ANNEXATION AGREEMENT AND PLANNED UNIT DEVELOPMENT AGREEMENT ( "Agreement"), is made and entered as of the day of-Ate -,U± r, 2006, by and between JW & WD DEVELOPMENT, L.L.C., an Illinois limited liability company ( "Owner ") and ( "Developer "), and the UNITED CITY OF YORKVILLE, a municipal corporation organized and existing under and by virtue of the laws of the State of Illinois ( "City ") by and through its Mayor and Alderman ( "Corporate Authorities "). OWNER, DEVELOPER and the City are sometimes hereinafter referred to individually as a "Party" and collectively as the "Parties ". RECITALS: A. OWNER is the OWNER of record of those certain parcels of real estate legally described on Exhibit "A" attached hereto ( "Chally Property "). B. The Owner desires to annex the Property to the City upon terms and conditions recited in this agreement. C. The Owner, after full consideration, recognizes the many advantages and benefits resulting from the annexation of the Property to the City. D. The OWNER desires to annex additional property on exhibit A to the City for the purposes of developing one contiguous planned unit development (PUD) known as the Chally Subdivision (approximately 154 acres). E. DEVELOPER desires to proceed with the development thereof for residential use in accordance with the terms and provisions of this Agreement. F. The property is not included within the corporate limits of any municipality. G. DEVELOPER proposes that a portion of the Chally Property as legally described and depicted in Exhibit "B" attached hereto ( "R -2 Parcel ") be rezoned as a PUD under the R -2 One- Family Residence District, and (`B -2 Parcel ") be rezoned as B -2, Business under the provisions of the City Zoning Ordinance ( "Zoning Ordinance "), Residence District with a Special Use for a Planned Unit Development with single - family, and business. H. All public hearings, as required by law, have been duly held by the appropriate hearing bodies of the City upon the matters covered by this Agreement. I. The City and DEVELOPER have given all appropriate notices due to be given pursuant to applicable provisions of the Illinois Compiled Statutes and the City Code. J. The Corporate Authorities, after due and careful consideration, have concluded that the Agreement of the Annexation Agreement in accordance with the terms and provisions of this Agreement, and the rezoning, subdivision and development of the Property as provided for herein, will inure to the benefit and improvement of the City in that it will increase the taxable value of the real property within its corporate limits, promote the sound planning and development of the City and will otherwise enhance and promote the general welfare of the people of the City. K. (i) Each party agrees that it is in the best interests of the OWNER and DEVELOPER and the City to annex and develop the subject real property described in the Attached Exhibit "A" as a Planned Unit Development (PUD) establishing a unique character and to provide for the orderly flow of traffic in the development and to adjoining real property. (ii) Each party agrees that it is in the best interest of the local governmental bodies affected and the DEVELOPER and OWNER to provide for specific performance standards in the development of the subject property. (iii) Each party agrees that a substantial impact will be had on the services of the United City of Yorkville and the Yorkville School District by development of said real property. (iv) The subject real property is located contiguous to the corporate boundaries of the CITY; and not within the corporate boundaries of any other municipality. I L. It is the desire of the CITY, DEVELOPER and OWNER that the development and use of the Chally Property proceed as conveniently as may be, in accordance with the terms and provisions of this Agreement, and be subject to the applicable ordinances, codes and regulations of the CITY now in force and effect, except as otherwise provided in this Agreement. M. The CITY's Plan Commission has considered the Petition, and the CITY Council has heretofore both requested and approved the proposed land use and the zoning of the same at the request of OWNER/DEVELOPER. 2 N. The OWNEWDEVELOPER and its representatives have discussed the proposed annexation and have had public meetings with the Plan Commission and the CITY Council, and prior to the execution hereof, notice was duly published and a public hearing was held to consider this Agreement, as required by the statutes of the State of Illinois in such case made and provided. NOW, THEREFORE, in consideration of the foregoing preambles and mutual covenants and agreements contained herein, the Parties hereto agree to enter into this Agreement and to supplement and in addition to the Petition for Zoning and Annexation and drawings submitted therewith, including the approved concept PUD plan to be approved by the CITY Council upon the following terms and conditions and in consideration of the various agreements made between the parties: 1. LEGAL CONFORMANCE WITH LAW. This Agreement is made pursuant to and in accordance with the provisions of the CITY Ordinances and applicable provisions of the Illinois Compiled Statutes and the Illinois Constitution. 2. ZONING. As soon as reasonably practicable following the execution of this Agreement, the Corporate Authorities shall adopt such ordinances as may be necessary and appropriate to rezone the Property under the R -2 One - Family Residence District and B -2 Business District of the CITY Zoning Ordinance ( "Zoning Ordinance "), One Family Residence District with a Special Use for a Planned Unit Development. The zoning map of the CITY shall thereupon be modified to reflect the classifications of the Chally Property as aforesaid. 3. SUBDIVISION OF CHALLY PROPERTY. a. The Property shall be developed in the manner and in accordance with the development concept set forth in the Concept PUD Plan, and such development shall be in full conformance with the CITY's Zoning Ordinance, Subdivision Regulations, Building Code, and other CITY ordinances, codes, rules and regulations pertaining to the development of the Property as provided in Paragraph 8 of this Agreement, except as otherwise modified or varied pursuant to the terms of this Agreement. The engineering design for the sanitary sewer, water, storm sewer service and the storm water retention/detention, as well as the streets and sidewalks within, upon and serving the Property, shall be substantially as provided in the Concept PUD Plan. b. OWNERS and DEVELOPER agree that the SUBJECT PROPERTY shall be developed in accordance with the ordinances of the CITY, as approved or subsequently amended, unless otherwise provided for herein, and agree to follow all of the policies and procedures of the CITY in connection with such development except as modified in this Agreement and the Concept PUD Plan (Exhibit C). 3 c. OWNERS and DEVELOPER agree proposed Final Plat units for this development shall contain a minimum of 40 acres for single family areas. d. DEVELOPER agrees to conform its Final Engineering and Final Plats to provide the buffering and screening agreed to between DEVELOPER and the adjoining OWNER of the subject property. e. Right to Farm Disclosure. DEVELOPER agrees to include Kendall County "Right to Farm Statement" language attached hereto as Exhibit "L" on each Final Plat of Subdivision. 4. VARIATIONS FROM LOCAL CODES. The specific variations and deviations from the CITY's ordinances, rules, and codes as set forth in Exhibit `B" attached hereto have been requested, approved and are permitted with respect to the development, construction, and use of the Chally Property ( "Permitted Variations "). 5. UTILITIES AND PUBLIC IMPROVEMENTS. OWNER and DEVELOPER agree that any extension and /or construction of these utilities and public improvements shall be performed in accordance with existing CITY subdivision regulations as varied by this Agreement, and such work and the cost thereof shall be the sole responsibility of DEVELOPER, except as otherwise provided in this Agreement: A. Sanitary Sewer Facilities. DEVELOPER shall cause the Chally Property, or such I developable portions thereof as may be appropriate, to be annexed to the Yorkville- Bristol Sanitary District ( "Yorkville Bristol" or "YBSD ") for the purpose of extending and connecting to the sanitary sewer lines and treatment facilities of Yorkville- Bristol. The installation of sanitary sewer lines to service the Chally Property and the connection of such sanitary sewer lines to the existing sewer lines of Yorkville- Bristol shall be carried out in substantial compliance with the Final Engineering as approved by the CITY for each Phase of Development. The CITY shall fully cooperate with OWNER and DEVELOPER in obtaining such permits as may be required from time to time by both federal and state law, including, without limitation, the Illinois Environmental Protection Act, permitting the construction and connection of the sanitary sewer lines to the Yorkville- Bristol facilities, in order to facilitate the development and use of each Phase of Development of the Chally Property. The sanitary sewer mains constructed by DEVELOPER for each Phase of Development which are eighteen (18) inches or more in diameter ( "Large Lines ") shall be conveyed to Yorkville- Bristol, and the sanitary sewer lines which are smaller than fifteen inches in diameter ( "Small Lines ") shall be conveyed to the CITY and the CITY shall take ownership of and, at its expense, be responsible for the ongoing care, maintenance, replacement and renewal of said Small Lines following the 4 CITY's acceptance thereof, which acceptance shall not be unreasonably denied or delayed. B. Water Facilities. The CITY represents that the water distribution system of the CITY currently has and the CITY will reserve sufficient capacity to service the Subject Property with potable water for domestic water consumption and fire flow protection, if the Subject Property is developed in accordance with this Agreement. The CITY further agrees, following acceptance by the CITY of the public improvements constructed within the Subject Property, to maintain said water distribution system to and within the Subject Property. The CITY further agrees to cooperate with OWNER and DEVELOPER in obtaining such permits as may be required from time to time by both federal and state law, including, without limitation, the Illinois Environmental Protection Act, to permit the Subject Property to be served with potable water and fire flow protection. In addition, the CITY will accept dedication of, and thereafter maintain, all primary water lines constructed by DEVELOPER in substantial conformity with the Final Engineering for each Phase of Development, pursuant to applicable provisions of the Subdivision Ordinance and other applicable codes and ordinances of the CITY. Location and size of the water lines to be installed by DEVELOPER shall be in substantial conformity with the Preliminary Engineering, subject to review and approval of Final Engineering for each Phase of Development. DEVELOPER shall connect the Subject Property to the CITY water supply system in accordance with the approved engineering. The CITY shall exercise good faith and due diligence to complete the development shall be as provided by ordinance for all properties in the CITY, except as otherwise provided herein. C. Storm Water Facilities. 1. DEVELOPER shall provide for storm water drainage and the retention/detention thereof upon and from the Chally Property, in substantial conformity with the Preliminary Engineering, subject to review and approval of Final Engineering for each Phase of Development, in the following manner: a. Installation of underground sewers within that part of the Chally Property to be developed and improved with buildings, structures, streets, driveways, and other locations as identified on the Preliminary Engineering, which improvements shall be conveyed to the CITY and thereafter owned and maintained by the CITY. b. Installation of graded, open swales or ditches and storm water retention/detention areas as depicted on the Preliminary Engineering within that part of the Chally Property designated on the Preliminary 5 Engineering for such purpose, subject to review and approval of Final Engineering for each Phase of Development. 2. The CITY, for the full term of this Agreement, and any extension thereof, shall require no more than that degree and type of storm water retention/detention as is currently called for in the existing ordinances of the CITY. D. Sidewalks and Street Related Improvements. DEVELOPER shall cause the curb, gutter, street pavement, street lights, recreational path and public sidewalks, to be installed upon the Chally Property in substantial conformity with the Final Engineering as approved for each Phase of Development and the applicable provisions of the Subdivision Regulations of the CITY, as modified or varied pursuant to this Agreement. Notwithstanding anything contained herein or in any CITY ordinance, rule or regulation to the contrary, all public sidewalks and parkway landscaping to be constructed or installed upon the Chally Property pursuant to the approved Final Engineering for each Phase of Development may be installed and completed on a lot by lot or block by block basis, but they remain as a part of the public improvements for each Phase of Development. The CITY shall accept the ownership and maintenance responsibility of the portions of the Trail System/Bike Path, constructed in accordance with the Final Plat and Final Engineering, located in the public right of way. 6. SECURITY INSTRUMENTS. A. Posting Security. DEVELOPER shall deposit, or cause to be deposited, with the CITY such irrevocable letters of credit, contractor's performance bonds or surety bonds ( "Security Instruments ") to guarantee completion and maintenance of the public improvements to be constructed as a part of the development of each Phase of Development as are required by applicable ordinances of the CITY. The amount and duration of each Security Instrument shall be as required by applicable ordinances of the CITY. All such Security Instruments if in the form of an irrevocable letter of credit shall be substantially in the form set forth in Exhibit "F ", attached hereto. The CITY Council, pursuant to recommendation by the CITY Engineer, may from time to time approve a reduction or reductions in the Security Instruments by an amount not in excess of eighty -five percent (85 %) of the value certified by the CITY Engineer of the completed work, so long as the balance remaining in the Security Instruments is at least equal to one hundred ten percent (110 %) of the cost to complete the remaining public improvements for the applicable Phase of Development. The Security Instruments for the public improvements for each Phase of Development shall be deposited with the CITY prior to the recordation of the Final Plat for each Phase of Development. 6 B. Release of Underp-round. Upon completion and inspection of underground improvements in each Phase of Development; and recommendation of acceptance by the CITY engineer, DEVELOPER shall be entitled to a release or appropriate reduction of any applicable Security Instrument, subject to a maintenance Security Instrument remaining in place for a one year period from the date of acceptance by the CITY, in conformance with the CITY Subdivision Control Ordinance. C. Release of Streets. Upon completion of street and related road improvements in each Phase of Development; and recommendation of acceptance by the City engineer, DEVELOPER shall be entitled to a release or appropriate reduction of any applicable Security Instrument, subject to a maintenance Security Instrument remaining in place for a one year period from the date of acceptance by the CITY, in conformance with the City Subdivision Control Ordinance. D. Transfer and Substitution. Upon the sale or transfer of any portion of the Chally Property, DEVELOPER shall be released from the obligations secured by its Security Instruments for public improvements upon the submittal and acceptance by the CITY of a substitute Security Instrument approved by the CITY, securing the costs of the improvements set forth therein by the proposed DEVELOPER. 7. PROCEDURE FOR ACCEPTANCE OF ANY PUBLIC IMPROVEMENTS. The public improvements constructed as a part of the development of each Phase of Development shall be accepted by the CITY pursuant to the provisions of the Subdivision Ordinance. The CITY shall exercise good faith and due diligence in accepting said public improvements following DEVELOPER's completion thereof for each Phase of Development in compliance with the requirements of said ordinance. 8. AMENDMENTS TO ORDINANCES. All ordinances, regulations, and codes of the CITY, including, without limitation those pertaining to subdivision controls, zoning, storm water management and drainage, building requirements, official plan, and related restrictions, as they presently exist, except as amended, varied, or modified by the terms of this Agreement, shall apply to the Chally Property and its development for a period of five (5) years from the date of this Agreement. Any Agreements, repeal, or additional regulations which are subsequently enacted by the CITY shall not be applied to the development of the Chally Property except upon the written consent of DEVELOPER during said five (5) year period. After said five (5) year period, the Chally Property and its development will be subject to all ordinances, regulations, and codes of the CITY in existence on or adopted after the expiration of said five (5) year period, provided, however, that the application of any such ordinance, regulation or code shall not result in a reduction in the number of residential building lots herein approved for the Chally Property, alter or eliminate any of the ordinance variations provided for herein, nor result in any subdivided lot or structure constructed within the Chally Property being classified as non - conforming under any ordinance of the CITY. The foregoing to the contrary notwithstanding, in the event the CITY is required to modify, amend or enact any ordinance or regulation and to apply the same to the Chally Property pursuant to the 7 express and specific mandate of any superior governmental authority, such ordinance or regulation shall apply to the Chally Property and be complied with by DEVELOPER, provided, however, that any so called "grandfather" provision contained in such superior governmental mandate which would serve to exempt or delay implementation against the Chally Property shall be given full force and effect. 9. BUILDING CODE. The CITY has adopted the International Building Code, which is updated approximately every three years. The building codes for the CITY in effect as of the date of building permit application will govern any and all construction activity within the Subject Property. 10. FEES AND CHARGES. During the first five years following the date of this Agreement, the CITY shall impose upon and collect from the OWNER and/or DEVELOPER, and their respective contractors and suppliers, only those permit, license, tap on and connection fees and charges, and in such amount or at such rate, as are in effect on the date of this Agreement and as is generally applied throughout the CITY. 11. CONTRIBUTIONS. OWNER and DEVELOPER shall not be required to donate any land or money to the CITY, or any other governmental body, except as otherwise expressly provided in this Agreement. 12. HOMEOWNERS ASSOCIATION AND DORMANT SSA. In order to provide for the maintenance of-the Subdivision signage, common areas and open space, in the event the Homeowner's Association fails to so maintain, OWNER agrees to execute a consent to the creation of a dormant Special Service Area prior to execution of the First Final Plat of Subdivision by the CITY; and the CITY shall have approved ordinances encumbering all residential units of said subdivision, as to common subdivision signage, storm water management or other common areas of the subdivision. I 13. OWNER'S /DEVELOPER'S CONTRIBUTIONS. OWNER or DEVELOPER shall be responsible for making the following contributions to compensate the Yorkville Community School District #115 ( "School District ") and the United City of Yorkville, Recreation Department ( "Recreation Department ") for the estimated impact which is projected to be experienced by said districts as a result of the development of the Chally Property in the manner provided for under this Agreement: A. School Contribution. OWNER or DEVELOPER shall provide cash -in -lieu of land to the CITY for school purposes ( "School Contribution "). The total land area required for contribution pursuant to applicable ordinances of the CITY, based upon the Preliminary Plat, is 13.923 acres. The school contribution shall be paid by a cash contribution in accordance with the CITY ordinances made at time of recording the first final plat in accordance with the amount per unit in Exhibit `D'. The fee shall be paid per individual residential dwelling unit concurrent with the building permit 8 application for that particular residential dwelling unit. The DEVELOPER has agreed to pay a transition fee to the School District in the amount of $3,000.00 per unit. The fee will be paid at the rate of $3,000 per unit on a per - building permit basis as building permits are issued. The method of payment will be in accordance with the CITY'S current procedure. This procedure is for the Builder for a home to pay the fee for that unit to the School District directly and receive a receipt from the School District for the unit paid and then for this receipt to be presented by the Builder to the CITY prior to the issuance of a building permit for that unit, on a lot by lot basis. Said fees are being paid voluntarily and with the consent of OWNER and DEVELOPER based upon this contractual agreement voluntarily entered into ' between the parties after negotiation of this Agreement. OWNER AND DEVELOPER knowingly waives any claim or objection as to amount of the specific fees negotiated herein voluntarily. B. Park Contribution. OWNER or DEVELOPER shall provide a contribution of land only to the CITY for park purposes ( "Park Contribution "). The total land area required for contribution for park purposes pursuant to applicable ordinances of the CITY, based upon the Preliminary Plat, is 8.738 acres. OWNER or DEVELOPER shall cause fee title to no less than 3.74 acres of land located in Parcel 7, as identified on the Concept PUD Plan ( "Park Site ") to be conveyed to the CITY, or to such other entity as the CITY shall direct in writing, in partial satisfaction of the Park Contribution. The balance of any park contribution shall be paid by a cash contribution in accordance with the CITY ordinances made at time of conveyance of the park site to the CITY. The Park Site shall be conveyed in such manner and at such time as required by applicable ordinances of the CITY. Prior to conveyance of the Park Site DEVELOPER shall, at its expense, grade, seed and prepare the Park Site in conformity with the Final Engineering. C. The fees listed in Exhibit "D" shall be paid to the CITY for each unit. Unless otherwise provided in this Agreement, said development, transition, impact, and other fees shall be paid per individual residential dwelling unit concurrent with the building permit application for that particular residential dwelling unit. 14. PROJECT SIGNS. Following the date of this Agreement and through the date of the issuance of the final occupancy permit for the Chally Property, DEVELOPER shall be entitled to construct, maintain and utilize up to three (3) offsite subdivision identification, marketing and location signs at such locations within or without the corporate limits of the CITY as DEVELOPER may designate (individually an " Offsite Sign" and collectively the " Offsite Signs "). DEVELOPER shall be responsible, at its expense, for obtaining all necessary and appropriate legal rights for the construction and use of each of the Offsite Signs. Each of the Offsite Signs may be double faced signs which shall not exceed twenty (20) feet in height with an area for each sign face not exceeding two hundred (200) square feet, subj ect to the requirements of any permitting authority other than the CITY. Each Offsite Sign maybe illuminated. In addition to the Offsite Signs, DEVELOPER shall 9 i be permitted to construct, maintain and utilize signage upon the Chally Property as identified in Exhibit "H ", attached hereto. 15. MODEL HOMES/PRODUCTION UNITS. During the development and build out period of the Chally Property (subsequent to final plat approval), DEVELOPER, and such other persons or entities as DEVELOPER may authorize, may construct, operate and maintain model homes within the Chally Property staffed with DEVELOPER's, or such other person's or entity's, sales and construction staff, and may be utilized for sales and construction offices. The number of such model homes and the locations thereof shall be as from time to time determined or authorized by DEVELOPER. No off - street parking shall be required for any model home other than the driveway for such model home capable of parking two (2) cars outside of the adjacent road right -of- way. Building permits for model homes, and for up to fifteen (15) production dwelling units, shall be issued by the CITY upon proper application therefore prior to the installation of public improvements (provided a gravel access road is provided for emergency vehicles and upon proof to the CITY the OWNER has demonstrated to the Bristol Kendall Fire Protection District fire hydrants within 300 feet of the dwelling units are operational). Prior to issuance of occupancy permits of model homes, water shall be made available within 300' of homes. There shall be no occupation or use of any production dwelling units until the binder course of asphalt on the street, the water system and sanitary sewer system needed to service such dwelling unit are installed and operational. Any fire hydrants that are not in service within 30 days of installation shall be marked or bagged by the OWNER. DEVELOPER may locate temporary sales and construction trailers upon the Chally Property during the development and build out of said property, provided any such sales trailer shall be removed within two (2) weeks following issuance of the final occupancy permit for the Chally Property or upon the occupancy of model homes within the Chally Property, whichever shall first occur. Prior to construction of the sales trailer the DEVELOPER shall submit an exhibit of the model trailer site with landscaping and elevations for the Cities approval. The parking lot must have a hard surface before occupancy is permitted. DEVELOPER hereby agrees to indemnify, defend and hold harmless the CITY and the Corporate Authorities (collectively "Indemnitees ") from all claims, liabilities, costs and expenses incurred by or brought against all or any of the Indemnitees as a direct and proximate result of the construction of any model homes or production dwelling units prior to the installation of the public street and water improvements required to service such dwelling unit. DEVELOPER shall be permitted to obtain building permits in the same manner for additional model homes and for initial production dwelling units in each Phase of Development as the Final Plat and Final Engineering for each such Phase of Development is approved by the CITY. The foregoing indemnification provision shall, in such case, apply for the benefit of Indemnitees for each Phase of Development. 16. CONTRACTORS TRAILERS. The CITY agrees that from and after the date of execution of this Agreement, contractor's and subcontractor's supply storage trailers maybe placed upon such part or parts of the Chally Property as required and approved by DEVELOPER for development purposes. Said trailers may remain upon the Chally Property until the issuance of the last final occupancy permit for the Chally Property. No contractor's trailers or supply trailers shall be located in the public right -of -way. 10 17. OVERSIZING OF IMPROVEMENTS. In the event oversizing of public improvements is hereafter requested and properly authorized by the CITY for the Chally Property, and agreed to by DEVELOPER, for any of the public improvements constructed to develop the Chally Property for the purpose of serving property other than the Chally Property, the CITY shall enter into a Recapture Agreement, as defined in Paragraph 19.A. hereof, with DEVELOPER providing for the payment of the cost of such oversizing by the OWNER of properties benefited by the same. The improvements which qualify as oversized and the identity of the benefited properties shall be identified at the time of approval of Final Engineering for a Phase of Development. 18. LIMITATIONS. In no event, including, without limitation, the exercise of the authority granted in Chapter 65, Section 5/11 -12 -8 of the Illinois Compiled Statutes (2002) ed., shall the CITY require that any part of the Chally Property be designated for public purposes, except as otherwise provided in this Agreement or identified on the Preliminary Plat. 19. RECAPTURE AGREEMENTS. A. Benefiting the Chally Property. See Section 20.E of this agreement. B. Encumbering the Chally Provertv. Except as otherwise expressly provided in this Agreement, there are currently no recapture agreements or recapture ordinances affecting public utilities which will be utilized to service the Chally Property which the CITY has any knowledge of or under which the CITY is or will be required to collect recapture amounts from OWNER, DEVELOPER, or their successors, upon connection of the Chally Property to any of such public utilities, nor does the CITY have any knowledge of a pending or contemplated request for approval of any such recapture agreement or ordinance which will effect the Chally Property. 20. ESTABLISHMENT OF SPECIAL SERVICE AREA AS PRIMARY FUNDING MECHANISM FOR INSTALLATION OF PUBLIC IMPROVEMENTS. OWNERS', DEVELOPER's and the CITY agree to establish a special service area ( "SSA ") as a primary funding mechanism for installation of on -site and off -site public improvements, including, without limitation, potable water, fire flow and/or water storage facilities, roads, storm water facilities (i.e., storm water sewers, collection and conveyance improvements, detention ponds if they benefit off -site properties), sanitary sewer facilities and other public improvements. I The CITY, OWNERS and /or DEVELOPER shall cooperate in good faith to identify and agree on the appropriate structure for the financing, which the CITY and DEVELOPER currently believe will consist of one or more SSA's pursuant to 35 ILCS 200/27 -5 et seq., but which may be authorized and implemented under other legal frameworks acceptable to the CITY, OWNERS 11 �I and /or DEVELOPER. However, CITY, OWNERS and /or DEVELOPER hereby expressly agree that the form of Special Tax or other Revenue Bond shall be the form of bond which requires a payment at the time of sale of a developed lot, or the time of issuance of a building permit, otherwise known as the "pay down" bond. The burden of the assessment is limited to and shall be paid by only those future property owners within the SUBJECT PROPERTY, and the other properties joining in the SSA for the areas generally referred to as the "Southwest Infrastructure Developments" described in Section 8 of this agreement. 21. CROSS CONTINGENCIES FOR INFRASTRUCTURE IMPROVEMENTS INCLUDING GREENBRIAR ROAD EXTENTION (SOUTHWEST INFRASTRUCTURE DEVELOPMENTS) A. CROSS CONTINGENCIES. OWNERS, DEVELOPER and CITY agree that this agreement shall be cross contingent with the CITY's approval of Annexations with 5 Developments commonly referred to as the "Southwest Infrastructure Developments." A list of the developments and the funding required on behalf of each of the developments is attached hereto as Exhibit BBB. These developments are related in that they all will derive special benefit from infrastructure improvements to be financed through the issuance of Special Revenue Bond(s) payable from special taxes levied in one or more special service areas to fund the extension of infrastructure to and through the developments. B. SSA FUNDING. Upon all Southwest Infrastructure Developments entered into individual annexation agreements, CITY, OWNERS and DEVELOPERS agree to establish individual Special Service Areas (SSA's) within each of the subdivisions listed on Exhibit BBB. City shall then take action to issue Special Revenue Bonds in and amount sufficient to fund the infrastructure extension by January 15, 2007 otherwise the DEVELOPERS shall have right to intervene. OWNER shall have the riaht to opt -out of participatine in the SSA by providing written notice to the CITY of its intention to independently fund OWNER'S pro rata share of the infrastructure imp_ rovement costs as set forth on Exhibit "AAA -2 Written notice of OWNER'S int ent to opt -out of the SSA must be provided in accordance with the Notice provisions of this Ap-reement and by thirtv (30) day prior to (i) January 15, 2007, or (ii) actual issuance of the bond(s whichever is later. OWNER will pav its pro rata share of the costs no later tha the date of the bond issuance in readilv available funds. OWNFR_'S fgi.lur t o_urovid e no tice wit the required time period shall be deemed to be its consent to participate in the SSA. The formation of The SSA's and issuance of Special Revenue Bonds is intended to render the following results: 1. All areas will be within the SSA's, and all real property will become subject to the Special Tax. It is anticipated that each development will enact an individual SSA's, and that all SSA's will issue one mutual Special Tax Bond for payments of the improvements. 12 2. The special tax shall be available to fund the repayment of up to $_(this will be the pro rata amount owed by this development) million in special tax bonds. 3. The special tax revenue bonds shall be used to construct infrastructure as described on Exhibit "AAA ". C. COST CONTAINMENT, OVERRUNS. In order to reduce the risk of cost overruns, OWNERS and /or DEVELOPERS agree that the amount of bonds sold should not be determined until bids have be received by the City for construction of the Southwest Infrastructure. Since final engineering must be completed prior to seeking bids, OWNERS and/or DEVELOPER agree to front fund the amount indicated on Exhibit "BBB" and to receive reimbursement for said sum from the sale of the Revenue Bonds. OWNERS and/or DEVELOPERS shall be allowed to comment regarding the determination of the amount of bonds sold, and the amount of contingency for cost overruns. CITY will respond in writing to all OWNER and DEVELOPER comments and justify said overruns. All DEVELOPERS shall be responsible for contribution, based upon the same ratios and rational used in Exhibit "AAA" if the cost to complete the Southwest Infrastructure exceeds the amount of the Bonds. D. PROCEEDS OF BONDS TO BE USED TO EXTEND GREEN BRIAR DRIVE. OWNERS and /or DEVELOPER agrees that traffic ultimately originating from this development, as well as all "Southwest Infrastructure Developments" will give rise to the need for the Green Briar Drive extension to Pavillion Road. One of the first uses of the Special Tax Bonds shall be the acquisition of right -of -way of the Green Briar Drive Extension. The City deems the construction of Green Briar as a high priority and agrees to proceed with construction as funding is available. In addition, OWNER'S and/or DEVELOPERS agree to route all construction traffic along state Route 71 to Pavillion or High Point Road and then to the development, and not allow construction traffic to travel along Fox Road from Rt 47 to the development. E. RECAPTURE /RECOVERY OF INFRASTRUCTURE IMPROVEMENTS The CITY shall, in accordance with Chapter 65, Section 5/9 -5 -1 et.seq. of the Illinois Compiled Statutes, 2002 Edition, enter into agreements for recapture /recovery ( "Recapture /Recovery Agreement ") with DEVELOPER providing for the recapture /recovery by DEVELOPER of a portion of the cost of certain improvements as identified on Exhibit "AAA ", constructed by DEVELOPER which the CITY has determined may be used for the benefit of property ( "Benefited Property ") not located within the Subject Property which connect to said improvements. The Benefited Property is identified on said Exhibit "DDD" attached hereto. Recapture for the Green Briar Drive improvement may include an increase of the normal and customary road fee for the Benefited Properties and therefore require the CITY to consider increasing this fee for the Benefited Properties via the annexation agreements for the Benefited Properties. Each Recapture Agreement shall be substantially in the form as attached hereto and made a part hereof as Exhibit `BEE ". 13 22. ONSITE EASEMENTS AND IMPROVEMENTS. In the event that during the development of the Chally Property DEVELOPER determines that any existing utility easements and/or lines require relocation to facilitate development of the Chally Property in accordance with the Preliminary Plat, the CITY shall fully cooperate with DEVELOPER in causing the vacation and relocation of such existing easements, and all costs thereof shall be borne by the DEVELOPER. If any easement granted to the CITY as a part of the development of the Chally Property is subsequently determined to be in error or located in a manner inconsistent with the intended development of the Chally Property as reflected on the Preliminary Plat and in this Agreement, the CITY shall fully cooperate with DEVELOPER in vacating and relocating such easement and utility facilities located therein, which costs shall be borne by DEVELOPER. Notwithstanding the foregoing, and as a condition precedent to any vacation of easement, DEVELOPER shall pay for the cost of design and relocation of any such easement and the public utilities located therein. a. Within 30 days of a written request from the United City of Yorkville, which includes legal descriptions and exhibits as necessary, the OWNER or DEVELOPER SHALL grant permanent and temporary construction easements as necessary for the construction of extension of City utilities and appurtenances and /or other utilities to serve the subject property and other properties within the City of Yorkville. b. Within 30 days of a written request from the United City of Yorkville, which includes legal descriptions and exhibits as necessary, the OWNER or DEVELOPER SHALL convey by Warranty Deed, fee simple title of future highway or road right of way to the United City of Yorkville as necessary, regardless of whether or not these right of way needs have been previously identified in this agreement. Such request for conveyance of right of way shall have no impact on any previously entitled land development density. 23. OFFSITE EASEMENTS AND CONSTRUCTION. Except as otherwise provided herein for the Offsite Water Easements, at the time each Final Plat for a Phase of Development is recorded, DEVELOPER shall obtain all offsite easements necessary for the development of such portion of the Chally Property in accordance with the Preliminary Plans. In the event an offsite easement is required which was not contemplated in the Preliminary Plans due to a change in circumstances, and in the event DEVELOPER is unable to acquire such necessary offsite easement, the CITY shall exercise its power of eminent domain to acquire the same, provided DEVELOPER shall pay the reasonable costs incurred by the CITY as a result thereof. DEVELOPER shall deposit the amount of such costs reasonably estimated by the CITY into a segregated, interest bearing escrow account prior to the commencement of such eminent domain proceedings by the CITY. Such funds shall be utilized solely to defray such costs and all funds, including interest, remaining in such escrow upon completion of such proceedings shall be refunded to DEVELOPER. 24. DISCONNECTION. OWNER and DEVELOPER agree that DEVELOPER shall develop the Chally Property as a subdivision to be commonly known as Chally Subdivision in accordance with the Concept PUD Plan approved by the CITY in accordance with the terms hereof, 14 and shall not, as either the OWNER or DEVELOPER of said property, petition to disconnect any portion or all of said property from the CITY. 25. CONFLICT IN REGULATIONS. The provisions of this Agreement shall supersede the provisions of any ordinance, code, or regulation of the CITY which may be in conflict with the provisions of this Agreement. 26. ANNEXATION FEE. The CITY hereby confirms and agrees that no annexation fee shall become due or payable as a result of the development and build -out of the Chally Property as a result of the prior annexation of said property to the CITY. The CITY hereby waives all current and future annexation fees now or hereafter required under any ordinances of the CITY with respect to the Chally Property, except as otherwise provided in this Agreement. 27. GENERAL PROVISIONS. A. Enforcement. This Agreement shall be enforceable in the Circuit Court of Kendall County by any of the parties or their successors or assigns by an appropriate action at law or in equity to secure the performance of the covenants and agreements contained herein, including the specific performance of this Agreement. This Agreement shall be governed by the laws of the State of Illinois. B. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the OWNER, DEVELOPER and their successors in title and interest, and upon the CITY, and any successor municipalities of the CITY. It is understood and agreed that this Agreement shall run with the land and as such, shall be assignable to and binding upon subsequent grantees and successors in interest of the OWNER, DEVELOPER, and the CITY. The foregoing to the contrary notwithstanding, the obligations and duties of OWNER and DEVELOPER hereunder shall not be deemed transferred to or assumed by any purchaser of a lot improved with a dwelling unit who acquires the same for residential occupation, unless otherwise expressly agreed in writing by such purchaser. C. This Agreement contains all the terms and conditions agreed upon by the parties hereto and no other prior agreement, excepting the Annexation Agreement it amends, regarding the subject matter hereof shall be deemed to exist to bind the parties. The parties acknowledge and agree that the terms and conditions of this Agreement, including the payment of any fees, have been reached through a process of good faith negotiation, both by principals and through counsel, and represent terms and conditions that are deemed by the parties to be fair, reasonable, acceptable and contractually binding upon each of them. D. Notices. Notices or other materials which any party is required to, or may wish to, serve upon any other party in connection with this Agreement shall be in writing and 15 shall be deemed effectively given on the date of confirmed telefacsimile transmission, on the date delivered personally or on the second business day following the date sent by certified or registered mail, return receipt requested, postage prepaid, addressed as follows: (i) If to OWNER ' and/or DEVELOPER: Wyndham Deerpoint Homes 605 Lindsay Circle North Aurora, IL. 60542 Attn: Richard M. Guerard Fax: (630) 966 -1006 with a copy to: Guerard, Kalina & Butkus 100 W. Roosevelt Road Wheaton, IL 60187 Attn: Richard M. Guerard Fax: (630) 690 -9652 (ii) If to CITY: United CITY of Yorkville Attn: CITY Clerk 800 Game Farm Road Yorkville, 11 60560 Fax: (630) 553 -4350 with a copy to: John Wyeth, Esq. 800 Game Farm Road Yorkville, I160560 Fax: (630) 553 -4350 or to such other persons and/or addresses as any party may from time to time designate in a written notice to the other parties. E. Severabilitv. This Agreement is entered into pursuant to the provisions of Chapter 65, See. 5/11- 15.1 -1, et seq., Illinois Compiled Statutes (1998 ed.). In the event any part or portion of this Agreement, or any provision, clause, word, or designation of this Agreement is held to be invalid by any court of competent jurisdiction, said part, portion, clause, word or designation of this Agreement shall be deemed to be excised from this Agreement and the invalidity thereof shall not effect such portion or portions of this Agreement as remain. In addition, the CITY, OWNER, and DEVELOPER shall take all action necessary or required to fulfill the intent of this Agreement as to the use and development of the Chally Property. I 16 i F. Agreement This Agreement, and any Exhibits or attachments hereto, may be amended from time to time in writing with the consent of the parties, pursuant to applicable provisions of the CITY Code and Illinois Compiled Statutes. This Agreement may be amended by the CITY and the OWNER of record of a portion of the Chally Property as to provisions applying exclusively thereto, without the consent of the OWNER of other portions of the Chally Property not effected by such Agreement. G. Convevances. Nothing contained in this Agreement shall be construed to restrict or limit the right of the OWNER or DEVELOPER to sell or convey all or any portion of the Chally whether im roved or unimproved. Y p P H. Necessary Ordinances and Resolutions. The CITY shall pass all ordinances and resolutions necessary to permit the OWNER, DEVELOPER, and their successors or assigns, to develop the Chally Property in accordance with the provisions of this Agreement, provided said ordinances or resolutions are not contrary to law. The CITY agrees to authorize the Mayor and CITY Clerk to execute this Agreement or to correct any technical defects which may arise after the execution of this Agreement. I. Term of Agreement. The term of this Agreement shall be twenty (20) years. In the event construction is commenced within said twenty -year period all of the terms of this Agreement shall remain enforceable despite said time limitation, unless modified by written agreement of the CITY and DEVELOPER/OWNER. J. Captions and Paragraph Headings. The captions and paragraph headings used herein are for convenience only and shall not be used in construing any term or provision of this Agreement. J. Recording. This Agreement shall be recorded in the Office of the Recorder of Deeds, Kendall County, Illinois, at DEVELOPER's expense. K. Recitals and Exhibits. The recitals set forth at the beginning of this Agreement, and the exhibits attached hereto, are incorporated herein by this reference and shall constitute substantive provisions of this Agreement. L. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same document. M. No Moratorium. The CITY shall not limit the number of building or other permits that may be applied for within any opened phase due to any CITY imposed moratorium and shall in no event unreasonably withhold approval of said permits or 17 approval for the Final Plat of any Phase of the subdivision. Nothing contained herein shall affect any limitations imposed as to sanitary sewer or water main extensions by the Illinois Environmental Protection Agency, or Yorkville - Bristol Sanitary District. N. Hi2hwav 71. DEVELOPER agrees to comply and pay the cost of compliance with all State requirements with regard to entrances into the development from State Highways7l . O. Time is of the Essence. Time is of the essence of this Agreement and all documents, agreements, and contracts pursuant hereto as well as all covenants contained in this Agreement shall be performed in a timely manner by all parties hereto. P. Exculpation. It is agreed that the CITY is not liable or responsible for any restrictions on the CITY's obligations under this Agreement that may be required or imposed by any other governmental bodies or agencies having jurisdiction over the Chally Property, the CITY, the DEVELOPER, or OWNER, including, but not limited to, county, state or federal regulatory bodies. IN WITNESS WHEREOF, the parties hereto have set their hands and seals to this Agreement as of the day and year first above written. DEVELOPER & OWNER: CITY: JW & WD DEVELOOPMENT, L.L.C., UNITED CITY OF YORKVILLE, an an Illinois limited liability company Illinois municipal corporation by Wyndham Deerpoint Homes, Inc., Managing Member By: By: Mayor Title: President , > Atteg -: roo, r t-o -c Dated: �/2 // d 6 �� CITY Clerk Dated: 91L.10(0 18 LIST OF EXHIBITS EXHIBIT "A ": Legal Description of Chally Property EXHIBIT "B ": Depiction and Legal Descriptions of Zoning Parcels EXHIBIT "C ": Concept PUD Plan EXHIBIT "D ": Development Fee List EXHIBIT `B ": Permitted Variations and Design Standards EXHIBIT "F ": Form Letter of Credit EXHIBIT "H ": Project Signage EXHIBIT "I ": Recapture Improvements EXHIBIT "L ": Right to Farm Disclosure Statement for Final Plats EXHIBIT AAA. Overall Infrastructure Funding Summary EXHIBIT BBB. Front Funding Distribution Summary EXHIBIT CCC. SSA Summary of Terms EXHIBIT DDD. Recapture/Recovery Area Benefited Property EXHIBIT `BEE ": Recapture /Recovery Agreement Exhibit A CHALLY FARM LEGAL DESCRIPTION OF PROPERTY PARCEL 1: (CHALLY PROPERTY) THAT PART OF SECTION 6 AND 7, TOWNSHIP 36 NORTH, RANGE 7 EAST OF THE THIRD PRINCIPAL MERIDIAN, AND PART OF SECTIONS 1 AND 12, TOWNSHIP 36 NORTH, RANGE 6 EAST OF THE THIRD PRINCIPAL MERIDIAN; DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 7; THENCE NORTH 01 DEGREE 45 36 SECONDS WEST, ALONG THE WEST LINE OF SAID SECTION.7, 695.70 FEET TO THE CENTER LINE OF ILLINOIS ROUTE 71; THENCE NORTH 71 DEGREES 11 MINUTES EAST, ALONG SAID CENTER LINE, 37.40 FEET; THENCE NORTHEASTERLY ALONG SAID CENTER LINE, BEING ALONG A CURVE TO THE LEFT HAVING A RADIUS OF 6611.12 FEET, A DISTANCE OF 2901.95 FEET; THENCE NORTH 46 DEGREES 02 MINUTES EAST ALONG SAID CENTER LINE, 1211.09 FEET FOR THE POINT OF BEGINNING; THENCE NORTH 46 DEGREES OZ MINUTES EAST ALONG SAID CENTER LINE, 605.33 THENCE NORTH 57 DEGREES 38 MINUTES 56 SECONDS WEST ALONG THE ORIGINAL CENTER LINE OF PAVILLION ROAD, 391.57 FEET TO A POINT IN THE PRESENT - CENTER LINE OF PAVILLION ROAD: THENCE NORTH 56 DEGREES.53 MINUTES 40 SECONDS WEST ALONG SAID CENTER LINE, 733.02 FEET; THENCE SOUTH 05 DEGREES 20 MINUTES 49 SECONDS WEST, 350.70 FEET; THENCE NORTH 84 DEGREES - 48 MINUTES 15 SECONDS WEST, 235.65 FEET; THENCE SOUTH 12 DEGREES 50 MINUTES 30 SECONDS WEST, 540.22 FEET, THENCE NORTH 72 DEGREES 43 MINUTES 25 SECONDS WEST, 610.85 FEET; THENCE NORTH 74 DEGREES 02 MINUTES 01 SECONDS WEST, 863.88 FEET;. THENCE NORTH 01 DEGREE 36 MINUTES 44 SECONDS WEST, 39.81 FEET; THENCE NORTH 64 DEGREES 37 MINUTES 43 SECONDS WEST, 155.43 FEET;'THENCE NORTH 78 DEGREES *33 MINUTES 25 SECONDS WEST, 435.29 FEET; THENCE NORTH 08 DEGREES 12 MINUTES 27 SECONDS WEST, 1009.89 FEET; THENCE NORTH 08 DEGREES 30 MINUTES 29 SECONDS WEST, 1205.74 FEET; THENCE SOUTH 80 DEGREES 22 MINUTES WEST, 572.03 FEET; THENCE SOUTH 08 DEGREES 23 MINUTES 08 SECONDS EAST, 2225.04 FEET; THENCE SOUTH 14 DEGREES 17 MINUTES 47 SECONDS EAST, 102.58 FEET; THENCE SOUTH 29 DEGREES 45 MINUTES 26 SECONDS EAST, 86.98 FEET; THENCE SOUTH 55 DEGREES 13 MINUTES 33 SECONDS EAST, 1003.86 FEET; THENCE SOUTH 06 DEGREES 02 MINUTES 19 SECONDS EAST, 655.38 FEET; THENCE SOUTH 64 DEGREES 37 MINUTES 06 SECONDS EAST, 680.00- FEET;'THENE NORTH 15 DEGREES 12 MINUTES 06 SECONDS EAST, 867.49 FEET; THENCE SOUTH 83 DEGREES 54-MINUTES 40. SECONDS EAST, 332.65 FEET; THENCE SOUTH 79 DEGREES 53 MINUTES 54 SECONDS EAST, 714.78 FEET; THENCE NORTH 09 DEGREES 51 MINUTES 55 SECONDS EAST, 289.93 FEET; THENCE SOUTH 78 DEGREES 17 MINUTES 47 SECONDS EAST, 266.30 FEET; THENCE 'NORTH 25 DEGREES 44 MINUTES 09 SECONDS EAST, 203.40 FEET; THENCE SOUTH 65 DEGREES 59 MINUTES 35 SECONDS EAST, 222.39 FEET TO THE POINT OF BEGINNING; IN KENDALL COUNTY, ILLINOIS- EXCEPT A DESCRIBED TRACT RECORDED IN DOCUMENT NUMBER 95 -07481 AT THE COUNTY RECORDER'S OFFICE WHICH READS AS FOLLOWS: THAT PART OF THE NORTHWEST QUARTER OF SECTION 7, TOWNSHIP 36 NORTH, RANGE .7 EAST OF THE THIRD PRINCIPAL MERIDIAN BEING DESCRIBED BY COMMENCING AT THE NORTHEAST CORNER OF UNIT ONE OF PAVILLION HEIGHTS BEING A SUBDIVISION OF PART OF SAID SECTION; THENCE SOUTH 56 DEGREES 53 MINUTES 40 SECONDS EAST ALONG THE CENTER LINE OF PAVILLION ROAD, 266.03 FEET TO THE NORTHEAST CORNER.OF PAVILLION CEMETERY FOR THE POINT OF BEGINNING; THENCE CONTINUING SOUTH 56 DEGREES 53-MINUTES 40 SECONDS EAST ALONG SAID CENTER LINE 90.32 FEET; THENCE SOUTH 05 DEGREES 26 MINUTES 31 SECONDS WEST PARALLEL WITH THE EASTERLY LINE, AND IT'S EXTENSION, OF LOTS 1, 2 AND 3 IN SAID SUBDIVISION, 369.45 FEET; THENCE NORTH 84 DEGREES 33 MINUTES 29• 1 I I I I I SECONDS WEST AT RIGHT ANGLES TO THE LAST DESCRIBED COURSE, 323.49 FEET TO A POINT ON THE EASTERLY LINE OF LOT 4 OF SAID SUBDIVISION; THENCE NORTH 12 DEGREES 50.MINUTES 30 SECONDS EAST ALONG THE EASTERLY LINE OF SAID LOT 4 AND PART OF LOT 3, 60.51 FEET TO THE POINT OF BEND IN SAID LOT 3 ALSO BEING THE SOUTHWEST CORNER OF SAID - CEMETERY; THENCE SOUTH 84 DEGREES 33 MINUTES 29 SECONDS EAST ALONG THE SOUTH LINE OF SAID CEMETERY, 235.62 FEET TO THE SOUTHEAST CORNER OF SAID CEMETERY; THENCE NORTH 05 DEGREES 26 MINUTES 31 SECONDS EAST PARALLEL WITH SAID EAST LINE OF LOTS 1, 2 AND 3, 351.39 FEET TO THE POINT OF BEGINNING, IN THE TOWNSHIP OF KENDALL KENDALL COUNTY, ILLINOIS. ALSO EXCEPT A DESCRIBED TRACT RECORDED IN BOOK 648, PAGE 240 AT THE COUNTY RECORDER'S OFFICE, WHICH READS AS FOLLOWS: THAT PART OF THE NORTHEAST QUARTER OF SECTION 7, TOWNSHIP 36 NORTH,•RANGE 7 EAST OF THE THIRD PRINCIPAL MERIDIAN DESCRIBED AS FOLLOWS; COMMENCING AT CORNER OF SAID SECTION 7; THENCE NORTH 01 DEGREE 45 MINUTES 36 SECONDS WEST ALONG THE WEST LINE OF SAID SECTION, 695.70 FEET TO THE CENTERLINE OF ROUTE 71; THENCE NORTH 71 DEGREES 11 MINUTES 00 SECONDS EAST ALONG SAID CENTERLINE, 37.40 FEET; THENCE NORTHEASTERLY ALONG SAID CENTERLINE, BEING ALONG A CURVE TO THE LEFT HAVING .A RADIUS OF 6611.12 FEET, A DISTANCE OF 2901.95 FEET; THENCE NORTH 46 DEGREES 02 MINUTES 00 SECONDS EAST ALONG SAID CENTERLINE, 1248.18 FEET FOR A POINT OF- BEGINNING; THENCE NORTH 68 DEGREES 58 MINUTES 00 SECONDS WEST, 240.17 FEET; THENCE-NORTH 10 DEGREES 57 MINUTES 14 SECONDS. EAST, 200.32 FEET; THENCE SOUTH 65 DEGREES 58 MINUTES 00 SECONDS EAST, 358.93 FEET TO SAID CENTERLINE; THENCE SOUTH 46 DEGREES 02 MINUTES 00 SECONDS WEST ALONG SAID CENTERLINE, 196.87 FEET FOR A POINT OF BEGINNING,. IN' KENDALL TOWNSHIP, KENDALL COUNTY, ILLINOIS. - ALSO EXCEPT -THE FOLLOWING DESCRIBED TRACT: r A PART OF A TRACT OF LAND DESCRIBED IN BOOK 648, PAGE 238-AT THE COUNTY RECORDER'S OFFICE AND LOCATED IN SECTION 7, TOWNSHIP 36 NORTH, RANGE 7, EAST OF THE THIRD PRINCIPAL MERIDIAN MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF SAID'SECTION 7; THENCE NORTH 01 DEGREE 45 MINUTES 36 SECONDS WEST ALONG THE WEST LINE OF SAID SECTION 7, 695.70 FEET TO THE CENTERLINE OF ILLINOIS ROUTE 71; THENCE NORTH 71 DEGREES 11 MINUTES EAST ALONG SAID CENTERLINE, 37.40 FEET; THENCE NORTHEASTERLY ALONG SAID CENTERLINE, BEING ALONG A CURVE TO THE LEFT HAVING A RADIUS OF 6611.12 FEET, A DISTANCE OF 2901.95 FEET; THENCE NORTH 46 DEGREES 02 MINUTES EAST ALONG SAID CENTERLINE 1211.09 FEET TO A RAILROAD SPIKE SET AND THE POINT OF BEGINNING; THENCE CONTINUING ALONG THE PREVIOUSLY. DESCRIBED COURSE A DISTANCE OF 238.88 FEET TO A RAILROAD SPIKE SET; THENCE'NORTH 63 DEGREES 11 MINUTES 38 SECONDS WEST,- 372.89 FEET; THENCE SOUTH 10 DEGREES 49 MINUTES 27 SECONDS WEST, 143.75 FEET; THENCE NORTH 69 DEGREES 02 MINUTES 53 SECONDS WEST PARALLEL AND 10 FEET FROM AN EXISTING FENCE, 100.00 FEET; THENCE NORTH 77 DEGREES 35 MINUTES 52 SECONDS WEST PARALLEL AND 10 FEET FROM AN EXISTING FENCE, 191.50 FEET; THENCE SOUTH 46 DEGREES 55 MINUTES 27 SECONDS WEST, 226.57 FEET TO'AN EXISTING WOOD POST; THENCE SOUTH 12 DEGREES 33 MINUTES 12 SECONDS WEST, 425.84 FEET TO A SOUTH LINE OF THE PARENT TRACT; THENCE SOUTH 79 DEGREES 47 MINUTES 26 SECONDS EAST ALONG AN INTERMEDIATE SOUTH LINE OF THE PARENT TRACT, 125.33 FEET; THENCE NORTH 10 DEGREES 09 MINUTES 35 SECONDS EAST MEASURED ALONG AN - INTERMEDIATE EAST LINE OF THE PARENT TRACT, 289.13 FEET; THENCE SOUTH 78 DEGREES 24 MINUTES 01 SECONDS EAST MEASURED AN INTERMEDIATE SOUTH LINE OF THE PARENT'TRACT, 265.56 FEET; THENCE NORTH 25 DEGREES 50 MINUTES 54 SECONDS EAST MEASURED ALONG AN INTERMEDIATE EAST LINE, 203.13 FEET; THENCE SOUTH DEGREES 54 MINUTES 21 SECONDS EAST MEASURED ALONG AN INTERMEDIATE-SOUTH LINE OF THE PARENT TRACT A DISTANCE OF 222.33 FEET TO THE POINT OF BEG.INNI.NG,'ALL LOCATED 2 IN KENDALL TOWNSHIP, KENDALL COUNTY, ILLINOIS. PARCEL 2: (ANDERSON PROPERTY) THAT PART OF THE WEST 1/2 OF SECTION 7, TOWNSHIP 36 NORTH, RANGE 7, EAST -OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION; THENCE NORTH 01 DEGREE .38 MINUTES 35 SECONDS WEST ALONG THE WEST LINE OF SAID SECTION, 695.70 FEET TO THE CENTERLINE OF ILLINOIS ROUTE 71; THENCE NORTH 71 DEGREES 17 MINUTES 58 SECONDS EAST ALONG SAID CENTERLINE OF ILLINOIS ROUTE'71; THENCE -NORTH 71 DEGREES 17 MINUTES 58 SECONDS EAST ALONG SAID CENTERLINE, 37.42 FEET TO A CURVE BEING CONCAVE TO THE NORTHWEST AND HAVING A RADIUS OF 6611.12 FEET; THENCE NORTHEASTERLY ALONG SAID CURVE AN 'ARC DISTANCE OF 34.96 FEET TO THE POINT OF BEGINNING; THENCE CONTINUING ALONG SAID CURVE AN ARC DISTANCE OF 2235.82 FEET TO THE SOUTHWESTERLY LINE OF A TRACT OF LAND CONVEYED TO "LEEDY" IN A WARRANTY DEED RECORDED MARCH 8, 1999 AS'DOCUMENT 89 -1266; THENCE NORTH 64 DEGREES 29 MINUTES 12 SECONDS WEST ALONG SAID SOUTHWESTERLY LINE, 575.80 FEET TO THE SOUTHEAST CORNER OF A TRACT OF LAND'CONVEYED TO "CHALLY" -IN A QUIT CLAIM DEED RECORDED FEBRUARY 2, 1994 AS DOCUMENT 94 -1410; (THE FOLLOWING THREE CALLS ARE ALONG THE SOUTHERLY LINE OF "CHALLY" TRACT): 1) THENCE CONTINUING NORTH 64 DEGREES 29 - MINUTES 12 SECONDS'WEST, 679.96 FEET; 2) THENCE NORTH 05 DEGREES 55 MINUTES 21 SECONDS WEST, 655.38 FEET;. 3) THENCE NORTH 55 DEGREES 09 MINUTES 44 SECONDS WEST, 1004.19 FEET TO - AN IRON PIPE; THENCE SOUTH 01 DEGREE 28 MINUTES 44 SECONDS EAST, 2835.67 FEET TO THE POINT OF BEGINNING, IN KENDALL COUNTY, ILLINOIS. EXCEPT THAT PART DESCRIBED-AS FOLLOWS.: - COMMENCING AT THE SOUTHWEST CORNER OF SAID SECTION 7; THENCE NORTH ALONG THE WEST LINE OF SAID QUARTER SECTION, 667.92 FEET TO THE CENTER LINE OF STATE ROUTE NO. 71; THENCE NORTH 70 DEGREES 30 - MINUTES 00 SECONDS EAST ALONG THE FORMER CENTER LINE OF SAID ROUTE, 75.24 FEET; THENCE NORTH 0 DEGREE 15 MINUTES '00 SECONDS WEST - 59.09 FEET TO A NORTH RIGHT OF WAY LINE OF SAID ROUTE WHICH IS FEET FROM SAID CENTER LINE, MEASURED AT RIGHT ANGLES THERETO, FOR A POINT OF BEGINNING; THENCE NORTH 01 DEGREE 15 MINUTE.00 SECONDS WEST 175.24 FEET; THENCE NORTH 67 DEGREES 48 MINUTES 07 SECONDS EAST 310.71 FEET; THENCE SOUTH 01 DEGREE 15 MINUTES 00 SECONDS EAST 175.24 FEET TO A POINT IN SAID NORTH'RIGHT OF WAY LINE; THENCE SOUTHWESTERLY ALONG SAID NORTH RIGHT OF WAY ON A CURVE TO THE RIGHT HAVING AN ARC LENGTH OF 310.71 FEET (CHORD BEARING. IS SOUTH 67 DEGREES 48 MINTUES 07 SECONDS WEST) TO THE POINT OF BEGINNING. ALSO EXCEPT THAT PART DESCRIBED AS FOLLOWS: THAT PART OF THE SOUTHWEST 1/4 OF SECTION 7, TOWNSHIP 36 NORTH, RANGE 7, EAST OF THE THIRD PRINCIPAL MERIDIAN, BEING DESCRIBED AS FOLLOWS: COMMENCING AT.THE SOUTHWEST CORNER OF SAID SECTION 7; THENCE NORTH ALONG THE WEST LINE OF SAID QUARTER SECTION, 693.86 FEET TO THE CENTER LINE OF STATE ROUTE #71; THENCE NORTH 73 DEGREES 04 MINUTES 02 SECONDS EAST ALONG THE CENTER LINE OF STATE ROUTE #71, 75.24 FEET TO A POINT LYING 1.09 CHAINS FEET) EAST OF THE WEST LINE OF SAID QUARTER SECTION LINE; THENCE NORTH PARALLEL WITH SAID WEST LINE 232.85 FEET FOR THE POINT OF BEGINNING; THENCE NORTH 71 DEGREES 15 MINUTES 26 SECONDS EAST 310.71 FEET; THENCE SOUTH _PARALLEL WITH SAID QUARTER SECTION LINE, 175.24 FEET TO THE NORTHERLY RIGHT OF WAY LINE OF SAID ROUTE #71; THENCE EASTERLY 60.00 FEET ALONG SAID RIGHT OF WAY LINE HAVING A RADIUS OF IC I 3 6556:12 FEET AND CURVING TO THE LEFT WHOSE CHORD BEARS NORTH 73 DEGREES12 MINUTES SECONDS EAST 60.00 FEET; THENCE NORTHERLY PARALLEL WITH SAID QUARTER SECTION LINE. 189.29; THENCE SOUTH 71 DEGREES 15 MINUTES 26 .SECONDS WEST, 370.11 -FEET TO SAID LINE LYING 1.09 CHAINS EASTERLY OF AND PARALLEL TO THE SAID QUARTER SECTION THENCE SOUTH ALONG SAID.LINE, 15.84 FEET TO THE POINT OF BEGINNING, IN THE TOWNSHIP OF KENDALL, - KENDALL.000NTY, ILLINOIS.. PIN: 04 -01- 476 402 04 -12- 200 -003 05 -06- 351 -001 05 -07- 151 -010 05 -07- 301 -003 4 ON EXHIBIT B° , a •. d � 3• Or k t --�1� • 1 . Er A o i .•' n ay. ,ty J,� R1 a ' - - '3 "n R ,. S.. '_ a • .. -.. ' 3 eta " 4Yx rt 1 ', q, • J .g f fit, J k '� p �" •.� - !' E[ftting ZOnin9 FUIYtrIcC Famdwg e- F Proposed ZOntng- R- Z/P.TM/B -3 1 y 4 0 Wit$ f tl� A 4. P t t Total Slagle ratalty Leta- 224 '1 •'� "� 4 41 fa Total sits Area- 149.$4 At 6rovaspa Sp 7,5 D: TotalO 24.M $ :# WnSg u- 37.O AU -34.]% f r • $k1, • 8a. a -2 = 4 +' Q R R ° `— — P U D '1 . R1 e i C ems- Tl+e L <y A l \ _ R3 I _ i a p Rl _ R s •+t t� .gyp .�' ea Chally Farm Z on i ng Depict City of f EXHIBIT G , V � j • , rM ��T � � � � ai{ r�Lalxca Rwrw�q _ �,. �]( y -. _ .. YnsYVh+iR" Ya[4 t�• '� ,jtil�ru z'y �'�j`va ", Rg i .,.,� TugBk ilr "Ana^ ti9 -611 Ar.. r' 9 : ♦ . sl 1• wr i w Ii. j1 ls- ve aew� 1 � An ne.nY - _ q., �� f s < � At • � IF ��f � 4 � �.r.. .+x Iw uaw ww s �f +a'ws`I +rt F A S!p Pro Chally Farm Illustrative Plan City c o EXHIBIT D Name of Fee Amount Time of Pavment 1 School District Transition Fee $3,000 per unit Paid to School District Office prior to application for building permit At time of building permit, paid at City Hall with separate check made out to 2 Yorkville Bristol Sanitary District Connection Fee $1,400 per unit YBSD 3 Yorkville Bristol Sanitary District Annexation Fee $3,523 per acre Paid for entire development, at time of annexation to sanitary district Yorkville Bristol Sanitary District Infrastructure 4 Fee $3,523 per acre PAID BY SPECIAL TAX PROCEEDS $650 + $.0.20 per 5 Building Permit Fee square foot Building Permit 6 Water Connection Fee $3,700 per unit PAID BY SPECIAL TAX PROCEEDS 7 Water Meter Cost (not applicable to fee lock) $390 per unit Building Permit 8 City Sewer Connection Fee $2,000 per unit PAID BY SPECIAL TAX PROCEEDS 9 Water and Sewer Inspection Fee $25 per unit Building Permit 10 Public Walks and Driveway Inspection Fee $35 per unit Building Permit 1 l Public Works (Development Impact Fee) $700 per unit Building Permit 11b Police (Development Impact Fee) $300 per unit Building Permit Municipal Building Fee is set up as $5,509 per unit if paid at time of permit, or $3,288 per unit if paid in a lump sum for all residential units at the time of see "time of final plat approval or within 90 days of when all City infrastructure is 11c Municipal Building (Development Impact Fee) payment" available to the development, whichever is later. 11d Library (Development Impact Fee) $500 per unit Building Permit 11e Parks and Rec (Development Impact Fee) $50 per unit Building Permit 111 Engineering (Development Impact Fee) $100 per unit Building Permit Bristol Kendall Fire District (Development Impact 11g Fee) $1,000 per unit Building Permit Calculated by ordinance, $80,000 Building Permit or Final Plat, depending on annexation /development 12 Parks Land Cash Fee per acre agreement and land /cash donations negotiated Calculated by ordinance, $80,000 Building Permit or Final Plat, depending on annexation /development 13 School Land Cash Fee per acre agreement and land /cash donations negotiated 14 Road Contribution Fund $107 per unit $1,893 (per unit) PAID BY SPECIAL TAX PROCEEDS $875 per unit, escalating each calendar year at a rate determined by 15 County Road Fee ordinance $674 (per unit) PAID BY SPECIAL TAX PROCEEDS 16 Weather Warning Siren $75 per acre Final Plat 1.75% of Approved Engineer's Estimate of Cost of Land 17 Administration Review Fee Improvements Final Plat 1.25% of Approved Engineer's Estimate of Cost of Land Improvements 18 Engineering Review Fee Final Plat i EXHIBIT "E" PERMITTED VARIATIONS AND DESIGN STANDARDS I. Permitted Variations to Zoning Ordinance: A. Section 12.15.5: Sign Code I . Increase sign face area and height standards to comply with the standards set forth in Exhibit "H" attached hereto II. Permitted Variations to Subdivision Ordinance: III. Permitted Variations to Building Code: IV. Permitted Variations for Signage: The provisions of the Zoning Ordinance are hereby varied as necessary and appropriate to permit the construction and use of those signs as identified in Paragraph 13 of this Agreement and in Exhibit "H" attached hereto E -1 1 • • I • V EXHIBIT F (Letterhead of a Bank, Savings. and Loan or Mortgage House) I ' 20 Mayor and Aldermen City of Yorkville 800 Game Farm Road Yorkville, IL 60560 Re: Subdivision Naive Letter of Credit No. ,For Account of Amount Date Gentlemen: The undersigned by , its' duly (name of f mmeial institution) (name Br title) authorized agent„ hereby establishes and issues this Irrevocable Letter of Credit in favor of the City of Yorkville in the amount of S , which represents 110% of the cost of the improvements described herein. Such credit is available to be drawn upon by said City upon presentation to this bunk of your demand for payment accompanies by a copy ofthis Letter ofCYedk. This Letter of Credit is issued for the purpose of securing and paying for the installation of the following public improvements in the aforesaid subdivision: DIVISION "A".- SANITARY SEWERS (engineer's estimate ) DIVISION "B" - WATER MAIN (engineer's estimate = 1 DIVISION "C" - STORM SEWERS (engineer's estimate = DIVISION "D" - STREETS (engineer's estimate — 1 DIVISION "E" - DETENTION BASIN (engineer's estimate — 1 DIVISION "F" - MISC. U%WROVEMENTS ( engineees estimate — ) Total engineees estimate - The costs of the fbregoing improvements are detailed in the attached Engineer's Cost Estimate. EXHIBIT F The developmertt is legally described as follows: See Attached Exhibit "A" Said public improvements shall be constructed by our customer, in (subdivider) accordance with the plans, specifications, completion schedules -and cost estimates prepared by (subdivides engineer) The undersigned agrees that this Irrevocable Letter of Credit shall remain in full force and effect and pertain to any and all amendments or modifications which may be made from time to time to the plans, specifications and cost esti=ed for said modifications. This Irrevocable Letter of Credit shall expire on 20 , provided, however, the undersigned shall notify the City Clerk by certified or registered mail, return receipt requested, at least ninety (90) days prior to said expiration date, that said Letter of Credit is about to expire. In no evert shall this Irrevocable Letter of Credit or the obligations contained herein expire except upon said prior written notice, it being expressly agreed by the undersigned that the above expiration date shall be extended as required to comply with this notice provision. This Irrevocable Letter of Credit shall remain in effect until , 20 without regard to (expiration date) any default in payment of money owed to the issuer by our customer and without regard to other claims which the Issuer may have against our customer, and in no event shall tenninatc without notice as specified above. This Letter of Credit may be renewed by the Issuer or our customer prior to the above expiration date by submitting a new Letter of Credit to the same form and substance as this Letter of Credit to the City Clerk in an amount equal to 110% of the estimated cost_ to complete and pay for the above described improvements. It is weed that the following shall be considered a default by our customer and shall entitle the City to make demand on this Letter of Credit: 1. that said Letter of Credit will expire within thirty (30) days and has not been renewed; or 2. that the aforesaid improvements have not been completed by the subdivider at least thirty (30) days prior to the aforesaid expiration date; or 3. that the owner and/or subdivider has failed to complete or carry on the work of the installation and construction of the required improvements in accordance with the schedule, or at a faster pace if the installation of the private improvements shall be completed before public improvements to service them are available; or 4. that the City of Yorkville has determined that the owner and/or subdivider has demonstrated that they will be unable to complete the improvement; or 1 , EXHIBIT F 5. that the City of Yorkville has determined that the public improvements or other improvements. covered by this commitment have been or are likely to be the subject .of liens or other claims by contractors, subcontractors or third parries, or 6: that if more Hands are disbursed at this time on order of the owner and/or subdivider insufficient Blends will xennain irrevocably committed to guarantee the completion of all improvements, and such certification indicates that the owner and/or subdivider has been notified that the nwtticipality finds that a breach of the owner's and/or subdivider's obligations has occurred and has not been cured within a period of thirty (30) days. The issuer's obligation to the City is based solely on this Irrevocable: Letter of Credit er onuent between this financial institution and the City and is not subject to instructions from our customer. It is recognized that the City hag directed our customer to proceed with the construction of public improvements upon the guarantee ofthis irrevocable commitment. It is further acknowledged that . the conBideration for this irrevocable commitment is provided by agreements between this financial institution and our customer. This Irrevocable Letter of Credit sets forth in full the terms ofthis undertakingbetween the Issuer and the City, and such undenakiog shall not in any way be modified, amended, amplified, nor shall it be limited by reference to any documents, instrument or agreement referred to herein, and any such reference shall not be deemed to incorporate herein by reference any document, instrument or agreement. Demands on this Letter of Credit shall.be made by presenting the Issuer with a letter from the City Clerk of the City of Yorkville demanding payment accompaniedby the certificate ofthe City Clerk of the City of Yorkville certnfj -n the basis for the default and demand on this Letter of Credit. The undersigned agrees that this Letter of Credit shall not be reduced or discharged except upon receipt of a certificate of the City Clerk of the City of Yorkville certifying that this Letter of Credit may be reduced. The outstanding balance of this Letter of Credit shall be the face amour of this Letter of Credit less any amount which is discharged upon certificate of the City Clerk; Provided however, the outstanding balance ofthis Letter of Credit shall not be reduced to leas than 25% of the approved engineer's estimalte upon which this Letter of Credit is based until the City Council accepts the aforementioned improvements and a certificate of the City Clerk certifying that the Letter of Credit has been released by the City Council of the City. All acts, requirements and other preconditions for the issuance of this Irrevocable Letter of Credit have been completed. The undersigned further agrees and engages that it will be responsible and liable for attorney fees and court costs which may be incurred by _the City in enforcing collection of this Letter of Credit in accordance with its' teams. EXHIBIT F We hereby engage with you the all damands for payment in conformity with the terms of this Irrevocable Letter of Credit will be duly honored on presentation to us prior to eViration of this Letter of Credit. BY: ATTEST: Name: Name: Title: Title: STATE OF ELLMOIS) ) SS COUNTY OF } I, the undersigned, a Notary Public in and fbr the County and State aforesaid, do hereby certify that Personally known to me to be the of the (title) and personally known to me to be the (name of institution) (title) of said institution, and who are personally known to me to be the same persons whose names are subscribed to the foregoing Leiter of Credit as such and (title) (titie) respectively, and caused the corporate seal of said to be affixed thereto (name of institution) pursuant to authority given by the Board of Directors thereof as their free and voluntary acts and as the free and voluntary act and deed of said institution. Given under my hand and official seal this _ day of 20_, SEAL Notary Public I �I i EXHIBIT "H" PROJECT SIGNAGE I. Onsite Project Identification Signs: 1. Number:4 2. Maximum Height: 20 feet 3. Maximum Sign Faces Per Sign: 2 4. Maximum Sign Face Area Per Side: 200 square feet 5. Illumination: Permitted 6. Minimum Setback from Property Line: 5 feet 7. Location: As from time to time determined by DEVELOPER II. Onsite Model Home Signs: I. Number: 1 sign for each model home 2. Maximum Height: 6 feet 3. Maximum Sign Faces Per Sign: 2 4. Maximum Sign Face Area Per Side: 32 square feet 5. Illumination: Permitted 6. Minimum Setback from Property Line: 5 feet 7. Location: As from time to time determined by DEVELOPER III. Onsite Directional and Information Signs: 1. Number: No maximum number 2. Maximum Height: 6 feet 3. Maximum Sign Faces Per Sign: 2 4. Maximum Sign Face Area Per Side: 16 square feet 5. Illumination: Permitted 6. Minimum Setback from Property Line: 5 feet 7. Location: As from time to time determined by DEVELOPER IV. Onsite Sales or Marketing Signs/Flags: 1. Number: 12 2. Maximum Height: 10 feet 3. Maximum Sign Faces per Sign: 2 4. Maximum Sign Face Area Per Side: 32 square feet 5. Illumination: Permitted 6. Location: As from time to time determined by DEVELOPER V. Permanent Entry Monument Signs: H -1 I Permanent entry monument signs and treatments shall be permitted in compliance with applicable provisions of the CITY Sign Ordinance and Subdivision Ordinance, or as otherwise approved by the CITY Council or Building and Zoning Officer upon request by DEVELOPER. Permanent entry monument signs and treatments shall not be located in public right -of- way and shall have adequate separation from underground utilities. VI. Other Signs: In addition to those permitted signs as identified in this Exhibit "H ", DEVELOPER shall further have the right to from time to time install and utilize such other signage upon the Chally Property as otherwise permitted pursuant to the provisions of applicable ordinances of the CITY. I H -2 I Exhibit "L" KENDALL COUNTY RIGHT -TO -FARM STATEMENT NOTICE: Kendall County has a long, rich tradition in agriculture and respects the role that farming continues to play in shaping the economic viability of the county. Property that supports this industry is indicated by a zoning indicator - A -1 or Ag Special Use. Anyone constructing a residence or facility near this zoning should be aware that normal agricultural practices may result in occasional smells, dust, sights, noise, and unique hours of operations that are not typical in other zoning areas. Exhibit AAA -1: Overall Infrastructure Funding Summary 8/3/06 SW INFRASTRUCTURE FUNDING United City of Yorkville, Kendall Co., IL Total Construction Engineeering Total Front Estimate Preliminary Design Construction Subtotal Cost Funding F.1 -Well No. 13 . $ 704,000 $ - $ 40,000 $ 62,000 $ 102,000 $ 806,000 $ 40,000 F.2 - Well No. 13 WTP $ 2,893,880 $ - $ 190,000 $ 175,000 $ 365,000 $ 3,258,880 $ 190,000 F.3 - Green Briar Drive Water Main Extensior $ 591,375 $ - $ 44,353 $ 44,353 $ 88,706 $ 680,081 $ 44,353 F.4 - 2.0 MG EWST $ 3,564,000 $ - $ 105,000 $ 116,500 $ 221,500 $ 3,785,500 $ 105,000 F.5 - BP/PRV Station (Chally Farm) $ 500,500 $ - $ 40,000 $ 35,000 $ 75,000 $ 575,500 $ 40,000 Additional Consultation, Surveying & Testing $ - $ - $ 70,000 $ - $ 70,000 $ 70,000 $ 70,000 Water Subtotal: $ 8,253,755 $ - $ 489,353 $ 432,853 $ 922,206 $ 9,175,961 $ 489,353 Green Briar Road R.O.W. Acquisition $ 672,000 $ 20,000 $ - $ - $ 20,000 $ 692,000 $ 20,000 F.8 - Fox Road Resurfacing $ 504,260 $ - $ 30,000 $ 40,000 $ 70,000 $ 574,260 $ 30,000 Pavillion Road Improvements $ 1,187,549 $ - $ 95,004 $ 95,004 $ 190,008 $ 1,377,557 $ 95,004 Additional Consultation, Surveying & Testing $ - $ 5,000 $ 10,000 $ 47,502 $ 62,502 $ 62,502 $ 15,000 Transportation Subtotal: $ 2,363,809 $ 25,000 $ 135,004 $ 182,506 $ 342,510 $ 2,706,319 $ 160,004 u 1 1 'MYA�1 ✓6 'l ain lei 0 ®® W "kw i X g Contract No. 1 & 2 $ 5,161,080 $ - $ 325,000 $ 341,500 $ 666,500 $ 5,827,580 $ 325,000 Sanitary Sewer Subtotal: $ 5,161,080 $ - $ 325,000 $ 341,500 $ 666,500 $ 5,827,580 $ 325,000 RwAff a SW Planning Area Stormwater Study $ - $ 33,800 $ - $ - $ 33,800 $ 33,800 $ 33,800 Stormwater Subtotal: $ - $ 33,800 $ - $ - $ 33,800 $ 33,800 $ 33,800 TOTAL (Water, Trans., San., & Storm) : $ 15,778,644 $ 58,800 $ 949,357 $ 956,859 $ 1,965,016 $ 17,743,660 $ 1,008,157 G:1Publie \Yorkville\20041Y00402 Fox Road Water System Extension Analysis\Eng1SSA Tables \WO MB and GB - W City Funding\[Development Funding Summary (WOMB 8 W City Funding).xls]Project Sum. ENGINEERING ENTERPRISES, INC. SUGAR GROVE, IL Exhibit AAA - 2: Funding Distribution Summary M1/06 SW INFRASTRUCTURE FUNDING United City of Yorkville, Kendall Co., IL 'ez�k �, � eftr ,. f! IF, L�i4al���iu .�c; UWDINUfSIyMMA7�tdl '118f _.,. _+.?"�^��'::u.. •A�'�,;.. Total Single Water ITpr. Transportation Impr. Sanitary Impr. Stormwater Planning TOTAL ALL Family Dwelling Density Percent of Subtotal Cost I Subtotal Cost / Subtotal Cost / Subtotal Cost / Total Cost / Funding Entity Acreage Units (DU) (DU /Acre) Total DU Cost D.U. Cost D.U. Cost D.U. Cost D.U. Cost D.U. United City of Yorkville -- -- -- -- $ 1,990,881 -- -- - -- -- -- $ 1,990,881 Silver Fox 103 172 1.67 19.7% $ 1,412,381 $ 8,212 $ 441,364 $ 2,566 $ 1,084,910 S 6,308 $ 5,691 $ 33 $ 2,944,346 $ 17,118 Evergreen Farm 49 77 1.57 8.8% $ 632,287 $ 8,212 $458,488 $ 5,954 $ 496,339 $ 6,446 $ 2,715 $ 35 $ 1,589,830 $ 20,647 Aspen Ridge Estates 126 217 1.72 24.8% $ 1,781,900 $ 8,212 $756,945 $ 3,488 $ 1,356,178 $ 6,250 $ 6,982 $ 32 $ 3,902,005 $ 17,982 Chally Farm 154 224 1.45 25.6% $ 1,839,381 $ 8,212 $ 574,799 $ 2,566 $ 1,484,251 $ 6,626 $ 8,533 $ 38 $ 3,906,964 $ 17,442 York Wood Estates 178 185 1.04 21.1% $ 1,519,131 $ 8,212 $ 474,723 $ 2,566 $ 1,405,901 $ 7,599 $ 9,880 $ 53 $ 3,409,635 $ 18,430 Total 610 875 1.43 100.0% $ 9,175,961 -- $ 2,706,319 -- S 5,827,580 -- S 33,800 -- $ 15,752,779 -- h (w aka ,,: _ 11AA )CIfiAUMIRECAF'fU4E/REG�OVERY OR=ADDITIONAL FEES (NEGATIVE NUfiIIBER)'.$UMMAR- �. . 5r+R1 gr. Total Single Water Impr. Transportation Impr. Sanitary Impr. Stormwater Planning TOTAL ALL Family Dwelling Density Percent of Subtotal Cost Subtotal Cost/ Subtotal Cost/ Subtotal Cost! Subtotal Cost/ Funding Entity Acreage Units (DU) (DU /Acre) Total DU Cost D.U. Cost D.U. Cost D.U. Cost D.U. Cost D.U. United City of Yorkville -- -- -- -- $ 1,990,881 -- - -- $ 1,990,881 -- Silver Fox 103 172 1.67 19.7% $ 775,981 $ 4,512 $ (18,436) $ (107) $ 379,098 $ 2,204 $ $ $ 1,155,079 $ 6,716 Evergreen Farm 49 77 1.57 8.8% $ 347,387 $ 4,512 $ (41,689) S (541) $ 169,712 $ 2,204 $ $ $ 517,099 $ 6,716 Aspen Ridge Estates 126 217 1.72 24.8% $ 979,000 $ 4,512 $ (117,488) S (541) $ 478,280 S 2,204 $ $ $ 1,457,280 $ 6,716 Chally Farm 154 224 1.45 25.6% $ 1,010,581 $ 4,512 $ (24,010) $ (107) $ 493,709 $ 2,204 $ $ $ 1,504,289 $ 6,716 York Wood Estates 178 185 1.04 21.1% $ 834,631 $ 4,512 $ (19,829) $ (107) $ 407,751 $ 2,204 $ $ $ 1,242,382 $ 6,716 Total 610 875 1.43 100.0% $ 5,938,461 $ (221,451) -- $ 1,928,550 -- $ $ $ 7,867,011 -- nlr;;;;a , ,k.•:" , TOTAiL' FE IXEDrINF..RA6TRUCT,URE'FUNDIPG' SUMMARY '(INFRASTRUCTUREFUNAING?= MAXIMUM' nuur�r,. .,nFJRE000ERYli4fi110UN.11�*`rh Total Single Water Impr. Transportation Impr. Sanitary Impr. Stormwater Planning TOTAL ALL Family Dwelling Density Percent of Subtotal Cost / Subtotal Cost I Subtotal Cost / Subtotal Cost I Subtotal Cost I Funding Entity Acreage Units (DU) (DU /Acre) Total DU Cost D.U. Cost D.U. Cost D.U. Cost D.U. Cost D.U. United City of Yorkville -- -- - -- $ - -- -- -- -- -- -- $ Silver Fox 103 172 1.67 19.7% $ 636,400 $ 3,700 $ 459,800 $ 2,673 $ 705,812 $ 4,104 S 5,691 $ 33 $ 1,807,702 $ 10,510 Evergreen Farm 49 77 1.57 8.8% $ 284,900 $ 3,700 $ 500,177 $ 6,496 $ 326,627 $ 4,242 $ 2,715 $ 35 $ 1,114,419 $ 14,473 Aspen Ridge Estates 126 217 1.72 24.6% $ 802,900 $ 3,700 $ 874,433 $ 4,030 $ 877,898 $ 4,046 $ 6,982 $ 32 $ 2,562,212 $ 11,807 Chally Farm 154 224 1.45 25.6% $ 828,800 $ 3,700 $ 598,809 $ 2,673 $ 990,542 $ 4,422 $ 8,533 3 38 $ 2,426,684 $ 10,833 York Wood Estates 178 185 1.04 21.1% S 684,500 S 3,700 $ 494,552 $ 2,673 $ 998,151 $ 5,395 $ 9,880 $ 53 S 2,187,082 $ 11,822 Total 610 875 1.43 100.0% $ 3,237,500 -- $ 2,927,770 -- $ 3,899,030 -- $ 33,800 -- $ 7,885,768 -- G:1PUblIQYCdwdIS1200d1Y00d02 Fos Road Water System EsW=m Anmysis%EnglSSA TsblosKDewlopn nt Fwd g Summary (W 8P -PRV Recap1).slsjDOV. bum. Notes - The acreage and unit counts are estimates; Once the final acreage and unit counts have been established, the calculation methodology will be reran and the values will be adjusted accordingly. ENGINEERING ENTERPRISES, INC. SUGAR GROVE, IL Exhibit AAA - 3: Water Works System Improvements Funding Distribution W31106 SW INFRASTRUCTURE FUNDING United City of Yorkville, Kendall Co., IL WATER DISTRIBUTION FUNDING SUMMARY Total Single Water Distr. Wate Additional Supply, Total Fees Water Family Density Percent of Funding Connection Fee Treatment & Storage For Water Improvement Funding Entity Acreage Units (DU) (DU /Acre) Total DU At $1,4351 DU At $3,700 / DU At $3,0771 DU Improvements Cost per DU United City of Yorkville - - - - - - - $1,990,881 - Silver Fox 103 172 1.67 19.7% $246,811 $636,400 $529,170 $1,412,381 $6,212 Evergreen Farm 49 77 1.57 8.8% $110,491 $284,900 $236,896 $632,287 $8.212 Aspen Ridge Estates 126 217 1.72 24,8% $311,364 $802,900 $667,616 $1,781,900 $8.212 Challv Farm 154 224 1.45 25.6% $321,429 $828,8DD $689,152 $1,839,381 $8,212 York Wood Estates 178 185 1.04 21.1% $265,466 $684,500 $569,166 $1,519,131 $8.212 Total / Average 610 875 1.43 100.0% $1,255,581 $3,237,500 $2,691,999 $9,175,961 - G:1 PuW.% Y. W11s V0011 YODr07 Fu Rwd WoW SytlW.Exm,ui.nA-1ydslE,g% SATv b1.. V.. 1 .p- tF- 6VSummery(W8P- PRVR- pl).1.F& , POTENTIAL MAXIMUM RECAPTURE /RECOVERY AMOUNT SUMMARY Less Water Less Maximum Recovery Total Single Recovery Maximum Off -site Water Main Project / Total Conn. Fee City Recoverable per Family per Recoverable Infrastructure Item Project Cost At 3,700 / DU Comr. Amount (Dev.) D.U. Development Units (DU) D.U. Amount Well No. 13 $806.000 United City of Yorkville - - $1,990.881 Well No. 13 WTP $3,298,880 Silver Fox 172 $4,512 $775.981 2.0 MG EWST $3,815,500 Evergreen Farm 77 $4,512 $347,387 Supply, Treatment, 6 Storage Subtotal: $7,920,380 $3,237,500 $1,990,881 $2,691,999 $3,077 Aspen Ridge Estates 217 $4,512 $979,000 Green Briar Road WM $680,081 - $660,081 $777 Chally Farm 224 $4,512 $1,010.581 BP / PRV Station $575,500 - $575,500 $658 York Wood Estates 185 $4,512 $834,631 Distribution subtotal: $1,255,581 - $1,255,581 $1,435 Total /Average 875 $4,512 $5.938,461 Total: $9,175,961 $3,237,500 $1,990,881 $3,947,580 $4,512 ENGINEERING ENTERPRISES, INC. SUGAR GROVE, IL Exhibit AAA - 4: Transportation Improvements Funding Distribution Sri= SW INFRASTRUCTURE FUNDING United City of Yorkville, Kendall Co., IL TRANSPORTATION FUNDING SUMMARY Transportation Transportation Total Single Density Percent of Infrastructure Fee Improvement Funding Entity Acreage Family Units (DUI (DU /Acre) Total DU At $2,0001 DU Cost per DU Silver Fox 103 172 1.67 19.7% $344,000 $2,000 Evergreen Farm 49 77 1.57 8.8% $154,000 $2,000 Aspen Ridge Estates 126 217 1.72 24.8% $434,000 $2,000 Chally Farm 154 224 1.45 25.6% $448.000 $2,000 York Wood Estates 178 185 1.04 21.1% $370,000 $2,000 _ Total /Average 610 875 1.43 100.0% $1,750,000 G:Wub1MYOdtv111eVW4 %Y00402 Fox Road Water System Extension Analysls%Eng=A TOM %= Me and GB - W City FundingWavetopment Funding Summary (WO MB 6 W City Funding).xIslrransponalion POTENTIAL MAXIMUM RECAPTUREIRECOVERY AMOUNT SUMMARY Portion Of Remaining Transpor. Transpor. Fees Total Single Remaining Remaining Transportation Total Impact Fee Impact per Family Dwelling Fees Transpor. Impact Improvement Project Cost At 2,0001 DU Fee D.U. Development Units (DU) per DU Fees Green Briar Road R.O.W. Acg. $702.000 — — — Silver Fox 172 ($107) ($18.436) Fox Road Resurfacing $574,260 — — — Evergreen Farm 77 ($541) ($41,689) Subtotal: $1,276.260 $1,276,260 — $1,459 Aspen Ridge Estates 217 ($541) ($117,488) Pavillion/Fox Road Improvements: $1,430,059 — — — Chally Farm 224 ($107) ($24.010) Less County Impact Fee Contribution: ($589,097) — — — York Wood Estates 185 ($107) ($19,829) Pavilllon Local Funding Subtotal: $840,962 — — — Total: 875 — ($221,451) Pavilion Road (30% Regional Share) $252,289 $252,289 — $434 Pavilion Road 570% Adjacent Share) $588,673 — — — Total (S(Iver,Chally,York): $1,099,725 $1,162,000 ($62,275) 5$107) Total (Evergreen): $406,648 $154,000 ($41,669) ($541) Total (Aspen): $610,849 $434,000 ($117,488) ($541) Notes: 70% of the Pavillion Road Improvement cost is applied to Aspen Ridge and Evergreen Farms; 30% (assumed regional portion of the improvement) is applied to the remaining subdivisions It is assumed Evergreen Farm and Aspen Ridge do not recover dollars from their Pavillion Road investment - Of the four legs of the Pavillion Road Improvement with reference to the Fox and Pavilion intersection, the cost breakout for the 70% of the total portion that is applied to Evergreen Farms and Aspen Ridge is as follows: North and East -100°/6 Evergreen Farms, West - 100% Aspen Ridge, South - 50% each - The total cost for the regional (Non- County Impact Fee eligible) improvements is less than the total amount of money that will be collected for the $2,0001 D.U. impact fee; The remaining portion of the impact fee wifi be due at building permit. - Since Evergreen Farm and Aspen Ridge are not funding the "Regional Share" of Pavillion Road (they are funding the adjacent share), their transportation impact fee does not count against that portion of the improvement ENGINEERING ENTERPRISES, INC. SUGAR GROVE, IL Exhibit AAA - 5: Sanitary Conveyance Improvements Funding Distribution ar" SW INFRASTRUCTURE FUNDING United City of Yorkville, Kendall Co., IL SANITARY CONVEYANCE FUNDING SUMMARY YBSD City Additional Total Fees Sanitary Total Single Density Percent of Infrastructure Fee Connection Fee Funding Required For Sanitary Improvement Funding Entity Acreage Family Units (DU) (DU /Acre) Total DU At $3,523 / Acre At $2,0001 Unit At $2,2041 DU Improvements Cost per DU Silver Fox 103 172 1.67 19.7% $361,812 $344,000 $379,096 $1,084,910 $6,308 Evergreen Farm 49 77 1.57 8.8% $172.627 $154,000 $169,712 $496,339 $6,446 Aspen Ridge Estates 126 217 1.72 24.8% $443,898 $434.000 $478.280 $1,356.176 $6,250 Chally Farm 154 224 1.45 25.6% $542,542 $448.000 $493,709 $1,484,251 $6,626 York Wood Estates 178 185 1.04 21.1% $628,151 $370,000 $407,751 $1,405,901 $7,599 Total I Average 610 875 1.43 100.0% $2,149,030 $1.750,000 $1,928,550 $5,827.580 — G,%PubliciYorkville120041Y00402 Fox Road Water System Extension AnaIysist EngISSATab1ss1W0MS and GB -WCOy Fund1nonDevehpment Funding Summary (WO MB&WCIty Funding).%Is]Sanory AS a W Ctty Fundinpuas]Senbary Summary (WO Me d W City Funding)ASISanfWry POTENTIAL MAXIMUM RECAPTURE AMOUNT SUMMARY Estimated Less Less Maximum Recovery Total Single Recovery Maximum Sanitary Interceptor Project YBSD Infr. Fee City Conn. Fee Recoverable per Family Dwelling per Recoverable Contract Cost At $3,5231 Acre At $2,0001 DU Amount D.U. Development Units (DU) D.U. Amount Contract Nos.1 + 2 $5,827,580 $2,149,030 $1,750,000 $1,928,550 $2,204 Silver Fox 172 $2,204 $379,098 Total /Average $5,827,580 $2,149,030 $1,750,000 $1,928,550 $2,204 Evergreen Farm 77 $2,204 $169,712 . Aspen Ridge Estates 217 $2,204 $478.280 Chally Farm 224 $2,204 $493,709 York Wood Estates 185 $2,204 $407,751 Total /Average 875 — $1,928,550 ENGINEERING ENTERPRISES, INC. SUGAR GROVE, IL Exhibit BBB: Front Funding Distribution Summary W/06 SW INFRASTRUCTURE FUNDING United City of Yorkville, Kendall Co., IL Total Single Water Imps Transportation Impr. Sanitary Impr. Stormwater Planning TOTAL ALL Family Dwelling Density Percent of Subtotal Front FundinE Subtotal Front FundinE Subtotal Front FundlnE Subtotal Front FundInC Total Front FundlnG Funding Entity Acreage Units (DU) (DU /Acre) Total DU Cost Amount Cost Amount Cost Amount Cost Amount Cost .Amount' Silver Fax 103 172 1.67 19.7% $ 1Al2,381 $ 96,193 $ 441,364 $ 26,094 $ 1,084,910 $ 60,505 $ 6,644 $ 6,644 $ 2,945,299 $ 189,436 Evergreen Farm 49 77 1.57 8.8% $ 632,287 $ 43,063 $458,488 $ 27,107 $ 496,339 $ 27,680 $ 2,974 $ 2,974 $ 1,590,089 $ 100,825 Aspen Ridge Estates 126 217 1.72 24.8% $ 1,781,900 $ 121,360 $756,945 $ 44,752 $ 1,356,178 $ 75,633 $ 8,382 $ 6,382 $ 3,903,406 $ 250,127 Chally Farm 154 224 1AS 25.6% $ 1.839,381 $ 125,274 $ 574,799 $ 33,983 $ 1,484,251 $ 82,776 $ 8,653 $ 8,653 $ 3,907,083 $ 250,686 York Wood Estates Total 610 875 1.43 100.0% $ 7,185,080 I $ 489,353 $ 2,706,319 $ 160,004 $ 5,827,580 $ 325,000 $ 33,800 $ 33,800 $ 15,52,7 79 $ 1,008,057 • G:Wubk%YcAvIW120041Y00402 Fes Rood Syo Emembn AotyobSvZSA To WWO MB WGB• WCBy FWYgVCOPebpnrN FuntlYp Summery(WOMBbWCllrFmdiq)boJFmnlFulal- Notes: The acreage and unit counts are estimates; Once the final acreage and unit counts have been established, the calculation methodology will be reran and the values will be adjusted accordingly. The Front Funding Amount for each infrastructure component is computed by using the proportional share of theSubtotal Cost multiplied by the total front funding amount required. ENGINEERING ENTERPRISES, INC. SUGAR GROVE,1 i DRAFT EXHIBIT CCC UNITED CITY OF YORKVILLE, ILLINOIS KENDALL COUNTY, ILLINOIS SPECIAL SERVICE AREAS SERIES 2007 — PAYDOWN BONDS (Southwest Interceptor Project including Pavillion Road) Summary of Proposed Terms ISSUER: United City of Yorkville, Illinois (the "City ") BOND TYPE: Special Tax Revenue Bonds PUBLIC IMPROVEMENTS: The proceeds of the Bonds will be used by the City to construct certain off -site Public Improvements benefiting the Special Service Areas (the "Areas"). Improvements include roadways (including Pavillion Road) sanitary sewer facilities, water facilities, costs for land and easement acquisitions relating to any of the foregoing improvements and certain soft costs associated with the Public Improvements. THE AREAS: The City will form five separate special service areas (the "Areas"), each of which will have a separate and distinct tax based on the number of acres and dwelling units. As currently contemplated, the special service areas will be: Acreage* Units Silver Fox 103 172 Evergreen Farms 49 77 Aspen Ridge Estates 126 217 Chally Farm 154 224 York Wood Estates 178 185 *(subject to change) SECURITY: - A first lien on all Special Taxes imposed upon all property within each Special Service Area. - A Reserve Fund equal to 10% of the initial par amount of the Bonds. - the Special Service Areas will not be cross - collateralized USE OF PROCEEDS: The proceeds of the Bonds will be used to 1) purchase and /or construct certain Public Improvements; 2) fund a debt service reserve equal to 10% of par; 3) to pay capitalized interest for up to 25 months; and, 4) pay costs of issuance. COUPON: TBD FINAL MATURITY: March 1, 2017 AMORTIZATION: Amortization will be in years 2014 through 2017. DRAFT EXHIBIT CCC STRUCTURE: Pursuant to a Special Tax Roll, the Special Service Area Tax from each special service area will be due and payable in full upon the transfer of title on the property. Effectively, this structure will mandate the Special Tax be prepaid once the Developer no longer owns the property (i.e., prior to the time a homeowner takes possession). At each closing, the payoff amount would be deposited with the bond trustee and the City would issue a lien release. Quarterly, the Trustee would use all prepayments to redeem bonds. See "Special Mandatory Redemption from Property Owner Prepayment. " Beginning in 2009, each owner will be required to make special tax payments based on interest only for the special service area debt allocable to their property. Beginning with the June 2014 special tax payment, the special service area debt will begin to amortize for any unsold units. AVERAGE ESTIMATED Averaee Estimated Tax Pavments SPECIAL TAX PAYMENTS: (per unit) Year Amount 2009 $1,196 2010 1,196 2011 1,196 2012 1,196 2013 6,485 2014 6,485 2015 6,485 2016 4,185 (t) includes principal and interest - assumes an average debt of $22,955 /unit - assumes title does not transfer - assumes no prepayment and an average Debt Service Reserve Credit of $2,295 /unit ESTIMATED SOURCES Sources: AND USES OF FUNDS: Bond Proceeds $20,086,000 Original Issue Discount (200,860) City Funds 1,990,880 Interest Earnings 619,480 22,495,500 Uses: Improvements 17,743,660 Debt Service Reserve 2,008,600 Capitalized Interest 2,301,520 Costs of Issuance 441,720 22,495,500 (') In order to allow for prepayment at any time without penalty, the bond purchasers will require a 1% discount on the bonds at the time of issuance. (Z) Interest is earned on the unspent bond proceeds held by the bond trustee. (3) The Debt Service Reserve is required by bondholders and will be returned pro rata at the time of each lot payoff. See "Debt Service Reserve." (4) Interest is capitalized through March 1, 2009. The first tax bill will be June 2009. (5) Costs of issuance are estimates and subject to change. DRAFT EXHIBIT CCC DEBT SERVICE RESERVE: A Debt Service Reserve equal to 10% of the par amount of the Bonds will be required by the bondholders. A pro rata amount of the Debt Service Reserve will be used to reduce the payoff amount (see "Payoff') at the time the lien is released (the "Debt Service Reserve Credit "). The Debt Service Reserve Credit will not be available to any property owner that is delinquent in their special tax payments. PAYOFF: Based on a $20,086,000 bond issue, the payoff figure per parcel would be: Fee per Bond Total Tax DSR Payoff Project DU Costs per DU Credit Amount City of Yorkville 1,990,880 Silver Fox 17,118 4,709 21,827 2,183 19,644 Evergreen Farm 20,647 5,680 26,327 2,633 23,694 Aspen Ridge Estates 17,982 4,946 22,928 2,293 20,635 Chally Farm 17,442 4,798 22,240 2,224 20,016 York Wood Estates 18,430 5,070 23,500 2,350 21,150 Difference between "Payoff Amount" and "Fee per DU" equals each unit's per share cost of the Costs of Issuance and the Capitalized Interest. ANNEXATION It is contemplated that each developer will agree in its Annexation AGREEMENT: Agreement to the formation of the special service area on its property and the imposition of the special tax. In order to assure an adequate number of units is included and the resultant special tax is acceptable, all annexations would need to occur simultaneously. METHOD OF SALE: Limited Offering DENOMINATION: $100,000 with increments of $1,000 in excess thereof. BOND FORM: Book -entry Only through DTC ANTICIPATED RATING: None TAXATION: Exempt from federal taxes; not subject to AMT; not exempt from State of Illinois income taxes. INTEREST PAYMENT March 1 and September 1, commencing September 1, 2007 DATES: PRINCIPAL PAYMENT March 1, commencing March 1, 2014 DATES: OPTIONAL REDEMPTION: The Bonds are subject to mandatory redemption by the City prior to maturity. SPECIAL MANDATORY The Bonds are subject to mandatory redemption on any Interest REDEMPTION FROM Payment Date, in par, from prepayments of Special Taxes made in PROPERTY OWNER accordance with the Ordinance of the City establishing the Area (the PREPAYMENT: "Establishing Ordinance ") and deposited into the Special Redemption Account of the Bond Fund, at a redemption price of par, together with accrued interest on such Bonds to the date of DRAFT EXHIBIT CCC redemption. The Bonds will be called in order of maturity. When the amount on deposit in the Special Redemption Account equals $1,000, such amount shall be used to redeem Bonds on the next Interest Payment Date at the redemption prices set forth above. ACCELERATION: The Indenture does not permit the acceleration of the principal of the Bonds upon the occurrence of an Event of Default under the Indenture. ABATEMENT: Annually on or before the last Tuesday in December, the City shall adopt an abatement ordinance abating the Special Tax to the extent monies are on deposit in the Principal and Interest Account of the Bond Fund and to adjust the levy for prepayment that occurred during the year. BOND COUNSEL: Foley & Lardner UNDERWRITER: William Blair & Company TRUSTEE: Bank of New York BILLING AND The County will bill and collect the special service area tax. COLLECTING: ADMINISTRATOR: The City will hire David Taussig & Associates as the special service area administrator (the "Administrator ") to assist the City in the levy, abatement and collection process. EXHIBIT DDD �1 - F "�"� SR"'aURE ZONE "' 2 { mrm Z'ENTF" ZONMJ i RUM �J CURRENT FACtLgflE 8F E1fAb70W3 T aa4E: SDA,DDOG i1 490UNID ELEVATIONS: W49 4UFFLY: IASO GPM Itttiil Ci 11Y' '? yr ' FORfST PRESERVE EET t P N�a �, r. } N4iizli wylom t t'�R, N ,,�Nr F�tri,,,cl tTI�F8 AN4V �L,£YATIOMN ,, _ t • 91- 4" / -MOUMD ELEVA'"MOt 46Tj?39 I .5URR6Y:C+4RMI '� 1 � - rwaw�r tEGE1Jl�1 90 PtttmR RECAPT[4RE1REiCOMERY AREA @ ZONE" R. Ta CEMMAL. 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XM EXHIBIT EEE RECAPTURE/RECOVERY AGREEMENT THIS RECAPTURE AGREEMENT ( "Agreement "), is made and entered as of the day of ,200 —, by and between the UNITED CITY OF YORKVILLE, an Illinois municipal corporation ( "CITY ") and ( "DEVELOPER "). RECITALS: A. DEVELOPER is the OWNER and DEVELOPER of that certain real estate development located within the corporate limits of the CITY and commonly known as ( "Subdivision "). B. DEVELOPER and the CITY have heretofore entered into that certain Annexation Agreement dated , 2006 ( "Annexation Agreement ") pertaining to the annexation and development of the Subdivision within the CITY. C. DEVELOPER desires to recapture an allocable share of the costs of constructing certain of the public improvements for the Subdivision ( "Recapture Items ") which will provide benefit to other properties ('Benefited Properties ") from the OWNERS of the Benefited Properties ('Benefited OWNERS "). D. DEVELOPER and the CITY are desirous of entering into this Agreement to provide for the fair and allocable recapture by DEVELOPER of the proportionate costs of the Recapture Items from the Benefited OWNERS, subject to the terms and conditions set forth in this Agreement. NOW, THEREFORE, in consideration of the foregoing recitals and the mutual covenants hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the parties hereby agree as follows: I . RECAPTURE ITEMS. The Recapture Items, being elements of the public improvements to be constructed as a part of the development of the Subdivision, are identified in Attachment "A" attached hereto ('Recapture Schedule "). The Recapture Schedule identifies each Recapture Item and the estimated cost to construct each Recapture Item ( "Estimated Cost "). DEVELOPER shall cause each of the Recapture Items to be constructed in compliance with the provisions of the Annexation Agreement and to be accepted and conveyed to the CITY in accordance with applicable ordinances of the CITY. 2. BENEFITED PROPERTIES. The Benefited Properties are legally described in the Recapture Schedule attached hereto as Attachment "B ". Each parcel of real estate contained within the Benefited Properties is referred to herein individually as a 'Benefited Parcel ". There are a total of Benefited Parcels as identified in the Recapture Schedule. I EXHIBIT EEE 3. RECAPTURE COSTS. The Recapture Item(s) which the Corporate Authorities of the CITY have determined will benefit a Benefited Parcel, and the prorata share of the Estimated Cost of each such Recapture Item to be allocated to such Benefited Parcel are set forth in the Recapture Schedule. The aggregate amount of the proportionate share of the Estimated Cost for each of the Recapture Items allocable to a Benefited Parcel is referred to herein as the "Recapture Costs ". The Recapture Costs for each of the Benefited Parcels shall be as identified in the Recapture Schedule. Interest shall accrue on the Recapture Costs for the benefit of DEVELOPER at the rate of six percent (6 %) per annum from the date the Recapture Item is completed until the Recapture Cost is paid. All references to Recapture Costs herein shall include accrued interest owed thereon. 4. COLLECTION OF RECAPTURE COSTS. The CITY shall assess against and collect from the Benefited OWNER of a Benefited Parcel, or any portion thereof, his successors and assigns, the Recapture Cost, calculated under Paragraph 3 of this Agreement for such Benefited Parcel. At such time as a Benefited OWNER, or its agent or representative, annexes and /or subdivides a Benefited Parcel, or any portion thereof, or subdivides the Benefited Parcel from a larger parcel of land, or applies to the CITY for issuance of a permit for connection to all or any of the Recapture Items, whichever shall first occur, the CITY shall collect from such Benefited OWNER, or its agent or representative, the applicable Recapture Costs, owed hereunder by such Benefited Parcel. No Benefited Parcel which is a part of a subdivision (whether by plat or division by deed) shall be approved or recognized by the CITY or be issued a connection permit to a Recapture Item by the CITY until such Benefited Parcel has fully paid the applicable Recapture Costs, owed by such Benefited Parcel under this Agreement. 5. PAYMENT OF RECAPTURE COSTS. Any Recapture Costs, collected by the CITY pursuant to this Agreement shall be paid to DEVELOPER, or such other person or entity as DEVELOPER may direct by written notice to the CITY, within thirty (30) days following collection thereof by the CITY. It is understood and agreed that the CITY's obligation to reimburse DEVELOPER shall be limited to funds collected from the Benefited OWNERs as provided herein, and payments made hereunder shall be made solely out of said funds. This Agreement shall not be construed as creating any obligation upon the CITY to make payments from its general corporate funds or revenue. 6. CITY'S OBLIGATION. The CITY and its officers, employees and agents shall make all reasonable efforts to make the aforesaid collections of the Recapture Costs, for each Benefitted Parcel. Neither the CITY or any of its officials shall be liable in any manner for the failure to make such collections, and DEVELOPER agrees to hold the CITY, its officers, employees and agents, harmless from the failure to collect said fees. In any event, however, DEVELOPER and /or the CITY may sue any Benefited OWNER owing any Recapture Costs, hereunder for collection thereof, and in the event DEVELOPER initiates a collection lawsuit, the CITY agrees to cooperate in DEVELOPER's collection attempts hereunder by allowing full and EXHIBIT EEE free access to the CITY's books and records pertaining to the subdivision and /or development of the Benefited Parcel and the collection of any Recapture Costs therefore. In the event the CITY and any of its agents, officers or employees is made a party defendant in any litigation rising out of or resulting from this Agreement, DEVELOPER shall defend such litigation, including the interest of the CITY, and shall further release and hold the CITY harmless from any judgment entered against DEVELOPER and /or the CITY and shall further indemnify the CITY from any loss resulting therefrom, except to the extent such loss results from the grossly negligent or willfully wrongful act or conduct of the CITY or any of its agents, officers or employees. 7. CITY'S COLLECTION OF OTHER FEES AND CHARGES. Nothin g contained in this Agreement shall limit or in any way affect the rights of the CITY to collect other fees and charges pursuant to CITY ordinances, resolutions, motions and policies. The Recapture Costs g provided for herein for each Benefited Parcel is in addition to such other CITY fees and charges. 8. TERM This Agreement shall remain in full force and effect for a period of twenty (20) years from the date hereof, unless sooner terminated by the mutual agreement of the parties hereto or by the completion of all duties to be performed hereunder. In the event no portion of a Benefited Parcel is a part of a subdivision approved or recognized by the CITY and no connection permit as aforesaid is issued by the CITY for such Benefited Parcel within ten years following the date of this Agreement, this Agreement, and each and every duty and undertaking set forth herein pertaining to such Benefited Parcel, shall become null and void and of no further force and effect as to such Benefited Parcel. 9. LIEN The recordation of this Agreement against the Benefited Properties shall create and constitute a lien against each Benefited Parcel, and each subdivided lot hereafter contained therein, in the amount of the Recapture Costs, plus interest, applicable hereunder to such Benefited Parcel. 10. MISCELLANEOUS PROVISIONS. A. Agreement: This Agreement may be amended upon the mutual consent of the parties hereto from time to time by written instrument and conformity with all applicable statutory and ordinance requirements and without the consent of any other person or corporation owning all or any portion of the Benefited Properties. B. Binding Effect: Except as otherwise herein provided, this Agreement shall inure to the benefit of and be binding upon the successors and assigns of DEVELOPER and any successor municipal corporation of the CITY. C. Enforcement: Each party to this Agreement, and their respective successors and assigns, may either in law or in equity, by suit, action, mandamus, or other proceeding in force and compel performance of this Agreement. EXHIBIT EEE D. Recordation: A true and correct copy of this Agreement shall be recorded, at DEVELOPER's expense, with the Kendall County Recorder's office. This Agreement shall constitute a covenant running with the land and shall be binding upon the Benefited Properties in accordance with the terms and provisions set forth herein. E. Notices Any notice required or desired to be given under this Agreement, unless expressly provided to the contrary herein, shall be in writing and shall be deemed to have been given on the date of personal delivery, on the date of confirmed telefacsimile transmission provided a hard copy of such notice is deposited in the U.S. mail addressed to the recipient within twenty -four hours following the telefacsimile transmission, or on the date when deposited in the U.S. Mail, registered or certified mail, postage prepaid, return receipt requested, and addressed as follows: If to CITY: United CITY of Yorkville Attn: CITY Clerk 800 Game Farm Road Yorkville, I160560 Fax: (630) 553 -4350 with a copy to: John Wyeth, Esq. 800 Game Farm Road Yorkville, 1160560 Fax: (630) 553 -4350 If to OWNER F. Severabilitv: The invalidity or unenforceability of any of the provisions hereof, or any charge imposed as to any portion of the Benefited Properties, shall not affect the validity or enforceability of the remainder of this Agreement or the charges imposed hereunder. G. Complete Agreement: This Agreement contains all the terms and conditions agreed upon by the parties hereto and no other prior agreement, excepting the Annexation Agreement, regarding the subject matter of this Agreement shall be deemed to exist to bind the parties. This Agreement shall be governed by the laws of the State of Illinois. H. Captions and Paragraph Headings: Captions and paragraph headings incorporated herein are for convenience only and are not part of this Agreement, and further shall not be used to construe the terms hereof. EXHIBIT EEE I. Recitals and Exhibits: The recitals set forth at the beginning of this Agreement and the exhibits attached hereto are hereby incorporated into this Agreement and made a part of the substance hereof. J. Enforceability: This Agreement shall be enforceable in the Circuit Court of Kendall County by any of the parties hereto by an appropriate action of law or in equity to secure the performance of the covenants herein contained. EXHIBIT EEE W: \CURRENT PROJECT&SW PROJECTS \FINAL FINAL&CHALLY FARM\CHALLY ANNEXATION AGREEMENT_8_17_06.DOC 8/19/2006 IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals as of the date first above written. DEVELOPER: CITY: UNITED CITY OF YORKVILLE, an Illinois municipal corporation By: By: Mayor Title: President Attest: Dated: CITY Clerk i A -1