Except as specifically provided otherwise by the Board of Trustees,
a development agreement, in a form acceptable to the Village Attorney,
shall be required for all major subdivisions for which guaranteed
improvements are contemplated or required. The development agreement
shall be recorded with the Cook County Recorder of Deeds concurrent
with the recordation of the final plat.
The development agreement shall, without limitation, include
or reference the following minimum information.
(A)Â
A proposed schedule for installation of required guaranteed improvements,
and referencing the final plat of subdivision and final engineering
plans;
(B)Â
A description and estimated cost of the guaranteed improvements,
in a form and amount approved by the Village Engineer;
(C)Â
The type and summary of the terms of the performance security for
the construction of the guaranteed improvements;
(D)Â
A summary of the covenants, restrictions, and easements necessary
for the subdivision, if required;
(E)Â
An agreement to pay for the guaranteed improvements and any other
applicable costs, payments, permit fees, inspection fees, or other
fees attributable to the subdivision;
(F)Â
Special provisions acknowledging, accepting, and ensuring compliance
with any conditions of approval of the subdivision;
(G)Â
An agreement to install and construct all guaranteed improvements
in accordance with all applicable codes and ordinances of the Village
and any other government entity; and
(H)Â
All other provisions deemed necessary by the Village Manager in order
to fulfill the purpose and intent of this Code.
