R-838 - 03/25/2003 - TAX - Resolutions ExhibitsREAL ESTATE SALE CONTRACT - VACANT LAND
EXHIBIT "A"
1. PURCHASER(S), Ravi and Rad,ha Nallakrishnan, 6575 Berrywood Drive,
Downers Grove, Illinois 60516, agree to purchase, and SELLER(S), Village of Oak
Brook, a municipal corporation, 1200 Oak Brook Road, Oak Brook, IL 60523 agrees to
sell to Purchaser(s) at the PRICE of Six Hundred Fifty -Six Thousand, One
($656,001 00) and no /100ths Dollars property located at the west side of Coolidge
Street, approximately 80 feet north of Oak Brook Road /31St Street in the Village of Oak
Brook, County of DuPage, IL, and legally described as follows.
Lot 3 in Sports Core/Westchester Park Subdivision, being a Resubdivision of
Part of the East Half of the Southwest Quarter of Section 25, Township 39
North, Range 11, East of the Third Principal Meridian, according to the Plat
thereof recorded November 6, 2002 as Document No. R 2002 - 302921 in
DuPage County, Illinois
PERMANENT PARCEL NO 06 -25- 302 -042
(hereinafter referred to as "the Premises" or "the Property ") with approximate lot
dimensions of 163 feet x 249 feet.
2 EARNEST MONEY Purchaser shall pay earnest money in the amount of
$50,000 when Purchaser signs and submits this Real Estate Sale Contract, and is
payable in the form of a certified or cashier's check made payable to the order of
Chicago Title Insurance Company, as Escrow Agent, and delivered at the time of
signing this Contract, receipt of which is hereby acknowledged. The Escrow Agent
shall hold the earnest money in a non - interest bearing account.
3. BALANCE OF PURCHASE PRICE: Purchaser shall pay the balance of the
purchase price at the closing in a certified or cashier's check payable to Seller. No
checks may be endorsed. Third party checks are not acceptable. In lieu of accepting
checks, Seller reserves the right to require Purchaser to pay the balance of the
purchase price by wire transfer to a bank account designated by Seller.
4. DELIVERY OF DEED- The acceptance by Purchaser of the delivery of the
deed at the closing shall be and be deemed to be full performance and discharge of
every agreement and obligation (either express or implied) on the part of Seller to be
performed pursuant to this Contract and no representation, warranty or agreement,
express or implied, of Seller shall survive the Closing except those which are herein
specifically stated to survive the Closing.
5 CASH PURCHASE: This is an all -cash sale and purchase and is NOT
contingent upon obtaining financing even though Purchaser may apply to a lending
institution of Purchaser's choice for a loan. Purchaser understands and agrees that
neither his receipt of a commitment from such a lending institution, his acceptance of
Ravivacantlando@kbrook 1
such a commitment, nor his satisfaction of any condition set forth in such a
commitment shall in any way be a condition of Purchasers obligations under this
Contract. Seller makes no representation or warranty as to Purchasers ability to
obtain financing.
3 at
6. THE CLOSING DATE: Closing will take place on or before April 15, 200IL
Chicago Title Insurance Company, 2400 S. Wolf Road, Suite 100, Westchester,
60514 In the event that Closing shall be delayed due to the fault of Purchaser and
Purchaser requests a delay in Closing, then Seller in its sole discretion may elect,
upon written notice to Purchaser, to extend the Closing, in which event Purchaser
p the sum of Fifty
shall pay at Closing, in addition to all other sums then due hereunder, la fter the
($50) Dollars per day for each day or part thereof that the Closing is delayed d a a the
Standard Closing Date, representing an adjournment fee. Notwithstanding
foregoing, TIME IS OF THE ESSENCE.
7. POSSESSION. Possession shall be granted to Purchaser(s) at the time of
closing.
8. CLOSING DOCUMENTS: At the Closing, Seller shall deliver to Purchaser, at
Seller's sole cost and expense, the following:
a. A duly executed and acknowledged Warranty Deed in recordable form
conveying title in fee simple to the Premises, free and clear of any and
all liens and encumbrance which can be satisfied through the payment of
money, and subject to the following "permitted exceptions", if any: (1)
Building, building line and use or occupancy restrictions, conditions and
covenants of record, (2) Zoning laws and ordinances; (3) Easements for
public utilities; (4) Public roads and highways and easements pertaining
thereto; (5) acts done or suffered by, or judgments against Purchaser(s),
or those claiming by, through or under Purchaser(s); and (g) exceptions
6, 7, 8, 9, 10, 11 and 14 set forth in the title commitment no. 2218240
dated October 4, 2002 by Chicago Title Insurance Company;
b. A later dated Title Commitment at closing and, subsequent to closing, an
Owner's Policy of Title Insurance (the Title Policy) with an owner's
extended coverage endorsement issued by Chicago Title Insurance
o nc
Company in the full amount of the Purchase Price, dated as o g,
insuring Purchaser's fee simple title to the Property subject only to the
Permitted Title Exceptions listed above, the standard printed exceptions
and additional exceptions contained in the usual form of Owner's Title
Policy;
C. Internal Revenue Code reporting requirements or disclosure including
F I RPTA;
Ravivacantlandoakbrook 2
d. Customary transfer declarations, and
e All other documents that are reasonably customary to close this
transaction, in accordance with the terms and conditions of this Contract.
9
TITLE: Chicago Title Insurance Company's letter of commitment no. 2218240
dated October 4, 2002 is attached to this Contract as Exhibit "A". Seller shall furnish
Purchaser with a later dated title commitment prior to closing. If the updated title
commitment discloses unpermitted exceptions Seller(s) shall have thirty (30) days
id exceptions waived, or to have the
from the date of delivery thereof to have the damage that may be caused by such
delayed, title insurer commit to insure against loss ed 9 necessary, during said 30 -day
exceptions and the closing date shall be y ,
period to allow Seller(s) time to have said exceptions waived. If Seller(s) fails to have
p
l n ermitted exceptions waived, or, in the alternative, to obtain a commitment for title
�
insurance specified above as to such exceptions, within the specified time,
Purchaser(s) may terminate the Contract between the parties, or may elect,
( r s within ten (10) days after the expiration of the 30 day period, to
take
notice to Selle ( )
the tale as it then is, with the right to deduct from the purchase price, lien or
encumbrances of a definite or ascertainable amount. If Purchaser(s) does not ct elect,
a
this Contract between the parties shall become null and void without further coon
the parties, and all monies paid by Purchaser(s) hereunder shall be refunded. o
lusge
Title Insurance Company Letter of Commitment No. 2218240 shall be iconclusiv t
evidence of good title as therein shown, as to all matters insured by the policy, subje
only to special exceptions therein stated,
10
PLAT OF SURVEY- Seller has furnished to Purchaser a Plat of Survey, which
and which shows the Property
shows the location of all easements, all building lines, Survey is attached as Exhibit "B".
to be free of encroachments A copy of the Plat of y
Purchaser represents that it accepts the contents and condition of the Plat of Survey
nd will urchase the Property subject to the condition as depicted on the Plat
of
a p
Survey.
11. PRORATIONS: None.
12
DEFAULT. Unless otherwise provided for herein, if Purchaser fails to comply
with the terms and conditions hereof, Seller may terminate this Contract, in which
event the earnest money shall be due and payable the Seller as its full and entire
liquidated damages. The parties agree that actual damages in the event of default are
difficult to ascertain and further agree that the amount set forth as liquidated ,s default.
is a reasonable estimate of the damages to Seller in the event of Purchaser's
refuses or a
Such sum is intended to be liquidated damages, and not a penalty. If Seller
is unable to deliver title as herein provided or to carry out any material obligation os
covenant hereunder to be performed by it prior to slonlnot'her or if this Contract than a default of
terminated prior to the time of Closing for Pu chaser shall be the return of his /her
Purchaser, the sole and exclusive remedy o
Ravivacantlandoakbrook 3
earnest money deposit. Seller's sole liability shall be limited to the return of such funds
to Purchaser. Purchaser acknowledges and agrees that under no circumstances shall
Seller be liable for Purchaser's damages, consequential, actual, punitive, speculative,
or otherwise. The provisions of the Uniform Vendor Purchaser Risk Act of the State of
Illinois shall apply to this Contract.
13 EARNEST MONEY ESCROW The earnest money is deposited with Escrow
Agent with the understanding that the Escrow Agent (a) does not assume or have any
liability for performance or non - performance of any party; and (b) has the right to
require in writing from all signatories (i) a written release of liability of the Escrow
Agent, except for gross negligence or fraud and (ii) authorization to disburse the
earnest money at Closing as such disbursement is provided for herein. At Closing, the
earnest money shall be applied to payment of the Purchase Price. Any refund or
payment of the earnest money under this Contract, pursuant to a default, shall be
reduced by the amount of any actual expenses incurred by Escrow Agent arising out
of the acceptance and distribution of funds pursuant to a determination as to which
party is entitled to such funds
14 RIGHT TO NOTICE: Purchaser and Seller hereby agree that in the event Seller
notifies Escrow Agent that Purchaser has breached this Contract by reason of
Purchaser's failure to timely deposit the earnest money or to timely close the
transaction or for any other reason as set forth in this Contract and that Seller has
thereby elected to declare Purchaser's earnest money earned, the Escrow Agent shall
notify the Purchaser as to the same. Purchaser shall have five (5) business days from
the date Escrow Agent notifies Purchaser of Seller's default notice to dispute Seller's
notice In the event Purchaser fails to dispute such notice, within said five -day period,
then Escrow Agent is hereby authorized by Purchaser and Seller to remit the earnest
money and any accrued interest to Seller, reduced by the Escrow Agent's actual
expenses described above. In the event that Purchaser does not so dispute such
Notice, Purchaser hereby agrees to indemnify, save harmless and agrees to defend
Escrow Agent from and against any claims demand, costs or damages (including
reasonable attorney's fees) incurred by Escrow Agent and arising from or out of or
with respect to Escrow Agent's complying with such demand by Seller. Seller and
Purchaser promise and agree to indemnify and save Escrow Agent harmless from any
claims, every kind and nature of which may be incurred by Escrow Agent by reason of
his acceptance of, and his performance under this Real Estate Sale Contract
15 ESCROW CLOSING At the election of Seller(s) or Purchaser(s), upon notice to
the other party not less than five (5) days prior to the closing date, the sale shall be
closed through an Escrow with Chicago Title Insurance Company in accordance with
the general provisions of a deed and money escrow agreement consistent with the
terms of this Contract. Upon creation of such an Escrow, anything in this Contract
between the parties to the contrary notwithstanding payment of the purchase price
and delivery of the Deed shall be made through the Escrow. The cost of the Escrow
Ravivacantlandoakbrook 4
shall be divide equally e uall between Seller(s) and Purchaser(s), except that Purchaser(s)
shall pay the money lender's escrow charges.
16.
REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER:
a.
Seller hereby represents and warrants to Purchaser which
representations and warranties shall be deemed remade by Seller to
Purchaser also as of the Closing Date that:
(1) Seller is duly authorized and empowered to sell the Premises.
2 All obligations of Seller arising from the ownership and operation
() of the Premises which accrue prior to the Closing Date have
been paid as they became due or will be paid as they become
due. Except for obligations for which p rovisions are herein be no obligations of
made for adjustments at Closing, there
Seller with respect to the Premises outstanding as of the Closing
Date.
3 Seller is not aware of any unrecorded liens caused by Seller
against the Premises.
4 Seller has no knowledge of receiving any written notice from as to
O haven jurisdiction governmental department or agency g J
conditions affecting the Premises that alleges a violation of la
or governmental ordinances, order or requirements relating to
the Premises.
5 The Property is fully improved with sewer and water, as set forth
() on the Utility information sheet attached as Exhibit "C". To the
best of Seller's knowledge electricity, gas, and telephone service
are available to the Property.
6 The Property bears an R -3 zoning classification and that sai
() classification is not being challenged or considered for change
pursuant to any administrative, legal or other type of proceeding.
b. From the Effective Date of this Contract until the Closing Date or
earlier termination of this Contract, Seller convenants to.
(1) Advise Purchaser promptly of any litigation, arbitration or
administrative hearing before any governmental Y or agency
of which Seller is notified, concerning or affecting the Premises
which is instituted after the date hereof; and
A
(2) Not \take, or omit to take any action that would have the effect of
violating any of the material representations, warranties,
covenants, and agreements of Seller contained in this Contract.
C. If any representations or warranty in this Contract is known by
Purchaser, prior to Closing, to be untrue to a material extent or
Purchaser knows that any covenant has not been performed or is not
remedied by Seller prior to Closing except those liens, charges or unpaid
bills or expenses that can be remedied by funds paid by Seller at Closing
out of the Purchase Price, Purchaser may as its sole remedy (i)
terminate this Contract whereupon the earnest money shall be refunded
to Purchaser, and neither party shall have any further rights or
obligations pursuant to this Contract, or (ii) waive its objections and close
the transaction without reduction of the Purchase Price.
17 REPRESENTATION, WARRANTIES AND COVENANTS OF PURCHASER:
Purchaser represents, warrants and covenants to Seller as follows:
a Purchaser is a sophisticated purchaser and has reviewed all materials
and /or had all materials reviewed by its own experts and consultants;
b. Purchaser is purchasing the Premises in its "As Is, Where Is" condition
with no warranties by Seller as to merchantability, suitability or fitness for
any particular use, it being understood and agreed that Purchaser is
relying solely on its own inspections, engineering studies and reports,
and examinations of the Premises and Purchaser's own determination of
the condition and value of the Premises.
C. Purchaser has all requisite power and authority to consummate the
transaction contemplated by this Contract and has by proper
proceedings duly authorized the execution and delivery of this Contract
and the consummation of the transaction contemplated hereby.
d. The Contract, when executed and delivered by Purchaser and Seller, will
constitute the valid and binding agreement of Purchaser enforceable
against purchaser in accordance with its terms;
e. To Purchaser's knowledge, neither the execution and delivery of this
Contract nor the consummation of the transaction contemplated hereby
will violate or be in conflict with (i) any applicable provisions of law; (ii)
any order of any court or governmental agency having jurisdiction over
the Purchaser, or (ill) any agreement or instrument to which Purchaser is
a party or under which Purchaser is bound;
Raviva can tlandoakbrook 6
f. There are no actions, suits, claims or other proceedings pending or, to
the best of purchaser's knowledge, contemplated or threatened against
Purchaser that could affect Purchaser's ability to perform its obligations
under this Contract, and
g Purchaser has sufficient funds available to consummate the Closing of
the transaction described in this Contract.
18. CONDITION OF AND DAMAGE TO PROPERTY: The Premises shall be
conveyed in its present condition, ordinary wear and tear and damage by casualty
excepted
19. DISCLAIMER-
,
a. Except as otherwise specifically stated in this Contract, Seller hereby
specifically disclaims any warranty, guaranty or representation, oral or
written, past, present, or future of, as to, or concerning the nature and
condition of the Property, including, without limitation, the water, soil and
geology, and the suitability thereof and of the Property for any and all
activities and uses which Purchaser may elect to conduct thereon.
b Except as specifically stated in this Contract, Seller has not made and is
not making any representation or warranty regarding merchantability or
fitness for any particular purpose, environmental conditions, zoning or
the availability of permits.
C. Purchaser acknowledges that having been given a sufficient opportunity
to inspect the Property, and to review the offerees' information packet or
other material given to Purchaser, Purchaser is relying solely on its own
investigation of the Property and financial analysis of the revenue and
expenses that may be received or incurred in arriving at its decision to
purchase the Property and has not relied upon any plans, selling
brochures, advertisements, representations, warranties, statements or
estimates of any nature written or oral by Seller or Seller's agent in
deciding to purchase the Property at the stated price.
d Purchaser is purchasing the Property in its present condition, "As Is,
Where Is ", and Seller has no obligation to construct any improvements
thereon, or to perform any other act regarding the Property, except as
expressly provided herein.
e. Any factual information such as Property dimensions, square footage, or
sketches shown to Purchaser or set forth herein are or may be
approximate and purchaser represents to Seller that they have inspected
Ravivacantlandoakbrook 7
and verified the facts and information prior to the execution of this
Contract No liability for any inaccuracies, errors or omissions is
assumed by the Seller, or its agents.
f. The Seller's employees and agents in this transaction have no expertise
with respect to environmental matters. Proper inspections of the
Property by qualified experts are an absolute necessity to determine
whether or not there are any current or potential environmental concerns
relating to the Property. The Seller's employees and agents in this
transaction have not made, nor will they make, any representations,
either expressed or implied, regarding the existence or non - existence of
any such environmental concerns in or on the Property. Problems
involving environmental concerns can be extremely costly to correct It is
the responsibility of Purchaser to retain qualified experts to deal with the
detection and,correction of such matters.
20. NOTICES: All notices required pursuant to this Contract shall be in writing and
signed by Seller or Purchaser or their attorney or attorney in fact and shall be given
by- (a) certified or registered mail, return receipt requested, and sent to the Parties or
their attorneys at the addresses recited herein, which notice shall be effective on the
second day after the date of postmark in the U.S. mail or (b) personally served on the
Seller, Purchaser or the attorney or (c) transmission of notice between the parties or
their attorneys via facsimile shall be sufficient, provided that the notice transmitted
shall be sent on business days (Monday through Friday excluding weekends and legal
holidays), during business,hours (9:00 a.m. to 5:00 p.m.).. If the facsimile is sent on a
Saturday, Sunday or legal holiday or after 5:00 p.m. Monday through Friday, the
effective date shall be the next business day. Notice to any one of a multiple person
party shall be sufficient notice to all.
21. TRANSFER TAX STAMPS: This transaction is exempt from transfer taxes.
Seller shall prepare the forms declaring Seller's exemption from transfer taxes.
22 COMMISSION. There is no listing broker involved in this transaction. Brush Hill
Realtors, the cooperating real estate broker, shall be paid a 2.5% commission by
Seller from the proceeds of sale, which are the sole source of commission.
23. STATUTORY COMPLIANCE: Purchaser(s) and Seller(s) shall provide and
consent to the reporting of all information regarding the sale required by any act,
regulation or statute, including all amendments thereto, of the United States of
America, or the State of Illinois or any agency or subdivision thereof
24 ENTIRE AGREEMENT This Contract constitutes the entire agreement
between the parties. No representations, undertaking or promises, whether oral or
written, implied or otherwise, can be made or have been made by either Seller or its
agents, to Purchaser or to anyone, unless expressly stated herein or unless mutually
Ravivacantlandoakbrook 8
agreed in writing by both parties. All amendments, supplements or riders hereto if any
shall be in writing and executed by both parties. Purchaser shall not record this
Contract or any memorandum thereof, and any purported recordation by Purchaser
shall constitute a default by Purchaser.
25 NO ASSIGNMENT: Purchaser shall not assign, set over or transfer this
Contract or any of Purchaser's rights or interest hereunder without the prior written
consent of Seller, and any purported assignment shall be void.
26. CONSULT YOUR ATTORNEY: This is intended to be a legallly binding
agreement. Read it carefully. No representation or recommendation is made by Seller,
or its agents or employees as to the legal sufficiency, legal effect, or tax
consequences of this document or the transaction relating thereto. These are
questions for your attorney. Consult your attorney before signing. The' Seller, its
employees or agents cannot give you any legal advice
27. IRREVOCABLE OFFER: This Contract, when executed by Purchaser and
delivered to Seller together with the aforesaid earnest money, shall constitute an
irrevocable offer to purchase the Premises for a period of twenty (20) business days
after the date of execution hereof by Purchaser. In the event Seller executes this
Contract and delivers a copy thereof to Purchaser within said twenty (20) day period,
the offer shall be deemed accepted and the Contract made. In the event this offer is
not accepted within twenty (20) days after the date of execution hereof by Purchaser,
Seller may consider Purchaser's offer to be a continuing offer which may be accepted
by Seller at any time prior to Seller's receipt of a written revocation of said offer from
Purchaser. If Seller rejects Purchaser's offer, or Purchaser revokes Purcha'ser's offer
after said twenty (20) days period and prior to acceptance by Seller, all deposits made
shall be returned by Seller to Purchaser and the offer shall be deemed withdrawn.
28. APPROVAL BY THE OAK BROOK CORPORATE AUTHORITIES: This
Contract is subject to the condition that on or before March 26, 2003, the corporate
authorities of the Village of Oak Brook, by a two - thirds vote, pass a resolution
approving this Contract. If the corporate authorities fail to so pass a resolution
approving this Contract within the time specified herein, this Contract shall
automatically be null and void and all earnest money shall be refunded to the
Purchaser
Ravi va can tlando@kbrook 9
29 TIME: Time is of the essence of this Contract.
30. GOVERNING LAW: This Contract shall be construed in accordance with the
laws of the State of Illinois.
Date of Acceptance. March 17, 2003
s
PUR E (S)
VILLAGE OF OAK BROOK,' an
Ravi Nallakrishnan Illinois municipal corporation
Tax ID /SS No -S su By. .
wren M. Bushy,
Village President
ASER(S)
V j
Radha Nallakrishnan
Tax ID /SS No. _ 3- 5-&:a2- 2,995
RavIvacantlandoakbrook 10
Attest: i/® A _ A
Linda K. Gonnella,
Village Clerk al
03/17/2003 10:03 3129380701 JEFFREY W HORWITZ LT PAGE 02/1'0
COMMITMENT FOR TITLE INSURANCE
D
Chicago Title Insurance Company
P,rovi&'rlg Title Related Services Since 1347
CHICAGO TITLE INSURANCE COMPANY, a Missouri corporation, herein called the Cocopany, for a
valuable consideration, herebq commis to Issue its policy Or policies of title insurance, as identified in Schcdule A
(which Pohcy or policies cover title risks and are subject to the Exclusions from Coverage and the Conditions and
Stipulatsons as contained in said policy /ies) in favor of the prop osedZasurcd sawed in Scttedulc A, �s owner or
mort &agee of the estate or interest in the land descnbcd or referred to in Schedule A, upon payment of the
premiums and charges therefor, all sit b ect to the provisions of Schedules A and B hereof and to the Commrt�ment
Conditions and Sk ations which are lambyuscorporate7&byrefcrcnce and made a part of the Commitment A
complete copy of the Commitment Conditions and Stipulations is available upon re uest and such include, de, but atze
not Urnited to, the proposed1n=ed's obligation to disclose, in uniting, knowledge of any additional defects, liens,
encumbrances, adverse claims or other matters which are not contained to the Commitment; provisions that the
Coulpan y's liability shall m no event exceed the ,amount of the policy /ies as stated iA Schedule A hereof, must be
based on the terms of tl� Commitment, shall be unfy to r-he proposed Insured and shall be onl for actual 1
incurred in good faith reliance on this Commitment, and provisions relating to the General Exceptions, to i0S
ncc policy /ies wilLbe subectunless the same are _disgosed of to the satisfaction of the Company.
This Commitment shall be effective only when. the identity of the proposed Insured and the amount of the policy
or policies committed for have- been irtsertcdin Schediffe A hereof by the Company, either at the time of the
issuance of this Commitment or by Lssuance of a revised Commitment,
This Commitment is preliminary to the issuance of such policy yr ppol1aes of title insurance and all Lability and
obUgat7ions hercurnder shall cease and terminate six months after the effective date hereof or when the policy or
policies commaittc;d for sbalf issue, whichever first occurs, provided that the fidurc to issue such policy or polies
is not rte fal—dt of the Company
This Commstmcnt is based upon a search and examination of Company records and /or public records by the
Company. Utilization of the information contained herein by an entity other than the Company or a mt mbcr of
the Chicago Title and Trust Famify of'iitte Insurers for the purpose of issuing a tide commitment or policyior
policies shall be considered a violation of the proprietary rights of the Company of its search and examination
workpr-oduct.
This Commitment shall not be valid or binding until3 -igued by an authorized signatory.
Issuecl By-
CHICAGO TITLE INSURANCE COMPANY
P 0 BOX 827
WHEATON, IL 60189 -6827
Refer Inquiries To.
(63G�871 -3500
i3F.4-2-1 :
CHICAGO TITLE INSURANCE COMPANY
ey
I
i
uthonzt;d Signatory
Commitment No: Sato 002278240 Ut.
• 03/17/2003 10:03 3129380701 JEFFREY W HORWITZ LT PAGE 03/10
i
CHICAGO 'TTE E INSURANCE COMPANY
CO NT FOR TITLE INSURANCE i
SCHEDULE A
YOUR REFERENCE: SPORT'S CORE /WESTCHESTER PARK SUB ORDER NO.: 1410 002218240 uL
EFFECTIVE DATE: O-CTOBER 4, 200.2
L POLICY OR POLICIES TO BE ISSUED:
OWNER' & POLICY- ALTA OWNERS 1392
AMOUNT• $100,000 00
PROPOSED INSURED: TQ COME_
2. THE ESTATE OR INTEREST IN THE LAND DESCRIBED OR REFERRED TO IN THIS COMMITMENT
AND CO VFRE-a HERE-IN IS A FEE SIMPLE UNLESS OTRERWME NOTED.
3. TITLE TO SAID ESTATE- OR WTEREST IN SAID LkND IS AT THE EFFECTIVE DATE VESTED IN:
VILLAGE OF OAX BROOK, AS TO LOTS- 1, 2, 3
4. MORTGAGE OR TRUST DEEDD-TO BE INSURED-
NONF
1 %
03/17/2003 10:03 3129380701 JEFFREY W HORWITZ LT PAGE 04/1@
i
CHICAGO TITLE INSURANCE COMPANY
COMMITMENT FOR TITLE INSURANCE
SCHEaULE A (CONTINUED)
ORDER No _ 141 n 0 0 191 it') n n rn
03/17/2003 10:03 3129380701 JEFFREY W HORWITZ LT PAGE 05/10
CHICAGO TlTiM IN TRANCE COMPANY
COMMITMENT FOR TITLE INSURANCE
SCHEDULE B (CONTINUED)
ORDER No-: 1410 002218240 UL
A 4• FAXES FOR THE YEAR ZQ02
TAXES FOR THE YEAR 2002 ARE NOT YET DUE OIL PAYABLE.
PERMANENT INDEX NUMBERS:
06 -25- 302 -042, UNDERLYING PROPERTY AFFECTING LOTS 1 TKROUGi 3, BOTH INCLUSIVE,
MARKED "EXEMPT" VET
L 5 ANY LIEN, OR RIGHT -TO A LIEN, FOR SERVICES, LABOR OR MATERIAJ,, HERETOFORE OR
HEREAFTER FURNISHED, IMPOSED BY LAW AND NOT SHOWN BY THE PUBLIC RECORDS.
NOTE- PLEASE BE INFORMED THAT FOR ANY t
NEW CONSTRUCTION ON THE LAND, A FINAL,
LIEN WAIVER PACKAGE. MUST SO SUBM=M TO THE COMPANY IN ORDER TO CONSIDER
WAIVING T141S EXCEPTION. AN ADDITIONAL FEE WILL BE ASSESSED FOR A LIEN WAIVER
EXAMINATION.
(AFFECTS LOTS_ L, 2 AND 3 }
C 6. THE LAND LEES WITHIN THE HINSDALEr SANITARY DISTRICT-WHICH HAS ACCEPTED FEDERAL
GRANTS FOR SEWAGE TREATMENT ' PURSUANT TO PUBLIC LAW 92 -500. FEDERAL LAW
REQUIRES A USER CHARGFrSYSTEM SEPARATE -FROM GENERAL AD VALOREM PROPERTY TAXES,
i
(AFFECTS ALL)
7. BUILDING LINE AS SHOWN ON THE PLAT OF BECKER'S RESUBDIVISION RECORDED "OCTOBER
9, 1997 AS DOCUMENT R57- 154108 AND AS SHOWN ON THE PLEAT OF SPORTS
CORE/AESTCHESTER PARK SUBDIVISION, AFORESAID, AS FOLLOWS
-
14 D FEET ALONG- THE MOST` WESTERLY WEST LINE OF LOT 1
40 FEET ALONG THE MOST SOUTHERLY WEST LINE, WIDENING TO APPROXIMATELY 180.19
FEET THROUGH THE MOST NORTHWESTERLY PORTION OF LOT 2 (SEE PLAT FOR FURTER
PARTICULARS} FL
40 FEET ALONG THE EAST LINE OF- LOTS 3
r
G 6 PUBLIC UTILITY EASEMENT AS SHOWN AND SET FORTH ON THE: PLAT OF SPORTS
CORE /WESTCHESTER PARK SUBDIVISION, AFORESAID, AS FOLLOWS;
15 FEET ALONG THE MOST WESTERLY NORTH LINE, THE MOST NORTHERLY WEST LINE, THE
MOST NORTHERLY NORTH LINE, THE MOST NORTHERLY EAST LINE, THE MOST SOUTHERLY
NORTH LINE AND THE MOST EASTERLY EAST LINE, AND 6 FEET ALONG THE SOUTH LINE OF
LOT 1 (SEE PLAT FOR FURTHER PARTICULARS}
RLSC616 o
rv, l PAGE B 2
e si'1 r'i Lbb l b: b3 3129360701 JEFFREY W HORWITZ LT PAGE 06/1.0
CIUCAGO 7' �TT,EINSURANCE COMPANY
COMMI'TMEN'T' FOR TITLE INSURANCE
SCHEDULE B (CONTINUED)
ORDER NO.: 1410 002218240 UL
10 FEET ALONG THE EAST LINE AND 6 FEET ALONG THE NORTH, SOUTH, MOST EASTERLY
NEST LIN£ AND MOST NORTHERLY SOUTH LINE OF LOT 2 (SEE PLAT FOR FURTHER
PARTICULARS) ,
I
15 FEET ALONG THE NORTH LINE, 10 FEET ALONG THE WEST LINE AND 6 FEET; ALONG THE
SOUTH LINE OF LOT 3
i
Ft 9. EASEMENTS, IF ANY, FOR PUBLIC UTILITIES, INCLUDING CABLE COMPANIES, OVER THAT
PART OF THE LAND LYING WITHIN VACATED WASHINGTON STREET AND 20 FOOT VACATED
ALLEY.
(AFFECTS LOTS-1 THROUGH 3, BOTH JNCLUSIVEj
N 10. RIGHTS OF THE_ MUNICIPALITY, THE STATE Of ILLINOIS, T%fE PUBLIC AND ADJOINING
OWNERS IN AND TO VACATED WASHINGTON STREET AND 20 FOOT VACATED ALLEY.
(AFFECTS LOTS 1 THROUGH 3, BOTH INCLUSIVE)
0 11 RIGHTS OF THE PUBLIC AND QUASI- PUBLIC UTILITIES, OF ANY, IN SAID VACATED
WASHINGTON STREET AND 20 FOOT VACATED ALLEY FOR MAINTENANCE THEREIN OF POLES,
CONDUITS, SEWERS AND OTHER FACILITIES.
(AFFECTS LOTS 1 THROUGH 3, BOTH INCLUSIVE)
S 12. THE PLAT OF SPORTS CORE /WESTCHESTER PARK SUBDIVISION, AFORESAID, INCLUDES A
CERTIFICATION BY THE SURVEYOR THAT NONE OF THE LAND IS LOCATED WITHI:bi A
SPECIAL FLOOD AREA AS IDENTIFIED By THE-FEDERAL EMERGENCY MANAGEMENT AGENCY.
(AFFECTS ALL)
t 13. IN ORDER FOR THE COMPANY TO- INSURE- TITLE COMING THROUGN THE SALE OR TRANSFER
OF LAND FROM THE MUNICIPALITY IN TITLE, WE SHOULD BE FURNISHED A CERTIFIED
COPY OF TgS ORDINANCE OR RES0LU7Irj0N AUTH(}RrZING THE- CONVEYANCt, TOGETHER WITH
THE NUMBER OF AYES AND NAYS FOR ITS PASSAGE, AND EVIDENCE OF ANY REQUIRED
PURL I CAT 20a.
I:F SAID MUrI=PALI-TY IS A "HOME RULE UNIT" PURSUANT TO ARTICLE- 7, SECTION G OF
THE ILLINOIS CONSTITUTION, WE SHOULD BE FURNISHED EVIDENCE OF COMPLIANCE WITH
THF' L'4UNICl- pALI_TY' S ORDINANCES) WHICH RELATE TO THE SALE OR TRANSFER OF
MUNICIPAL PROPERTY
i
THIS COMMITMENT IS SUBJECT TO SUCH ADDITIONAL EXCEPTIONS, IF ANY, AS MAY BE
DEEMED NECESSARY AFTER OUR REVIEW OF THESE MATERJA_IS_
r
(AFFECTS LOTS 1 THROUGH 3, BOTH INCLUSIVE)
U 14. PUBLIC UTILITIES EASEMENTS CREATED BY BECKER'S RESUBDIVISION PLAT DOCUMENT
R97- 154108 PURPORTEDLY ABROGATED BY PLAT RECORDED NOVEMBER 6, 2002 AS DOCUMENT
R2002- 302919
_ �_ PAGE B 3
' 03/17/2003 10:03 3129300.701 JEFFREY W HORWITZ LT PAGE 07/10
CHICAGO TMTLE INSURANCE COMPANY
COMMITMENT FOR TTTI.E INSURANCE
SCHEDULE B
ORDER NO.: 1410 0022,18240 UL
I__ IF EXTENDED COVERAGE- OVER THE FIVE- GENERAL- EXCEPTIONS I&
REQUESTED, WE SHOULD BE FURNISHED THE FOLLOWING -
A A CURRENT ALTA /ACSM OR ILLINOIS LAND TITLE SURVEY CERTIFIED TO
CHICAGO TITLE INSURANCE COMPANY;
S. A PROPERLY EXECUTED ALTA STATEMENT,
C. FOR UNIMPROVED LAND ONLY, UTILITY LETTERS FROM THE MUNICIPALITY IOR COUNTY
(IF UNINCORPORATED), LOCAL GAS, ELECTRIC AND TELEPHONE COMPANIES,
AND IF APPLICABLE, THE LOCAL CABLE TELEVISION COMPANY,
MATTERS DISCLOSED BY THE ABOVE DOCUMENTATION WILL BE SHOWN
SPECIFICALLY
NOTE-- THERE WILL BE AN ADDITIONAL CHARGE FOR THIS COVERAGE,
2. NOTE FOR INFORMATION• THE COVERAGE AFFORDED BY THIS COMMITMENT AND
ANY POLICY ISSUED PURSUANT HERETO SHALL NOT - COt"Si"lENCE PRIOR TO THE
DATE ON WHICH ALL CHARGES PROPERLY BILLED BY THE - COMPANY HAVE BEEN
FULLY PAID.
e
V 3. NOTE FOR ADDITIONAL INFORMATION: THE DUPAGE COUNTY RECORDER REQUIRES THAT ANY
DOCUMENTS PRESENTED FOR RECORDING CONTAIN THE FOLLOWING INFORMATION:
A. THE NAME AND ADDRESS OF THE PARTY WHO PREPARED THE DOCUMENT;
B. THE NAME AND ADDRESS OF THE PARTY TO WHOM THE DOCUMENT SHOULD BE MAILED
AFTER RECO TNG;
C. ALL PERMANENT REAL ESTATE TAX INDEX NUMBERS OF ANY PROPERTY LEGALLY
DESCRIBRa IN THE DOCUMENT';
D THE ADDRESS OF ANY PROPERTY LEGALLY DESCRIBED IN THE DOCUMENT; 1
E ALL DEEDS SHOULD- CONTAIN THE- ADDRESS OF THE- GRANTEE AND SHOULD ALSO NOTE
THE NAME AND ADDRESS OF THE PARTY TO WHOM THE TAX BILLS SHOULD BE SENT.
F. ANY DEEDS CONVEYING UNSUEDIVIDED- LAND, OR, PCIRTIONS OF SUBDIVIDED LAND,
MAY NEED TO BE ACCOMPANIED BY A PROPERLY EXECUTED "PLAT ACT AFFIDAVIT."
i
IN ADDITION, PLEASE NOTE THAT THE MUNICIPALITIES OF ADDISON, AURORA, BARTLETT,
BOLINGBROOK, CAROL STREAM, ELK GROVE- VILLAGE, ELMHURST, GLENDALE- HEIGHTS, GLEN
ELLYN, HANOVER PARK, NAPERVILLE, SCHAUMBURG, WHEATON AND WOODRIDGE HAVE
ENACTED TRANSFER TAX ORDINANCES -- TO RECORD A COMMYANCE OF LAME} LOCATED IN
THESE MUNICIPALITIES, THE REQUIREMENTS OF THE TRANSFER TAX ORDINANCES MUST BE
MET, A CONVEYANCE OF PROPERTY IN THESE CITIES MAY NEED TO HAVE THE
APPROPRIATE TRANSFER TAX STAMPS AFFIXED BEFORE IT CAN BE RECORDED.
FURTHERMORE, ALL DEEDS AND MORTGAGES SHOULD INCLUDE THE CURRENT MARITAL STATUS
OF ALL INDIVIDUAL PARTIES, WHERE APPROPRIATE. A SPOUSE OF AN INDIVIDUAL
GRANTOR OR MORTGAGOR MAY HAVE TO SIGN THE DEED OR MORTGAGE IN ORDER TO RELEASE
ANY APPLICABLE HOMESTEAD INTEREST.
THIS EXCEPTION WILL NOT APPEAR ON THE POLICY WHEN ISSUED.
ftxRcul
03/17/2003 19:03 3129360701 JEFFREY W HORWITZ LT
CHICAGO - E,hNSURANCE C®NIPANX
COMMrrMEN'T FOR TrME INSURANCE
SCHEDULE B (CON'TWUED�
PAGE 0B /1Q
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PAGE 10/10
i
VILLAGE OF OAK BROOK I
UTILITY tNT O, � MA TIO, l V`
SALE OF LOWS 19 2 AND 3 OF THE
SPORTS- CORE[WESTCHESTER PARK SUBDIVISION
i
•
All three lots are currently serviced with 1 M2" water service lines'to
a b -box at their front lot tine.
• All three lots have sanitary sewers available along-the streets that
they front on, but service stubs are not currently provided. Service
lines must be built by the lot owner.
• All three lots are curr_en_dy serviced- witb storm sewer stubs along
their rear lot line that discharge into- the detention basin_
/mrwtstfhcgter park utility spmmary-shi Ct