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HomeMy WebLinkAbout8533 CALLIE 42Qe 5TATE �J _ . o , `zr. Illinois Department of Revenue .; �1 04 Office of Local Government Services, 3-520 '‘WI m' 101 West Jefferson Street Springfield, Illinois 62702 Illinois Department of Revenue docket no 11- 16- 50 Telephone: 217 785-2252 County reference no.: 97009 Non-homestead Property Tax Exemption Certificate (35 ILCS 200/8-35, 16-70, and 16-130) Property owner or applicant: VILLAGE OF MORTON GROVE County: Cook Property index number, legal description, or both: 10-20-113-015-0000 Based on the statement of facts and supporting documentation in the application, we hereby issue this certificate approving the exemption for 61% of the 2011 assessment year. For most exemptions, 35 ILCS 200/15-10 requires the filing of an annual affidavit or certificate of exempt status form with the chief county assessment officer on or before January 31 of each year. This form is available at the county assessment office. The Illinois Department of Revenue docket number shown above is your exemption certificate number. Refer to this number on the annual certificate of status form and in all future correspondence regarding this property. If you do not agree with this decision, you must send us a written request for a formal hearing within 60 days after the decision date show below. In your request, concisely state the mistakes alleged to have been made or the new evidence to be presented as required by 35 ILCS 200/8-35. Decision date: December 22, 2011 Illinois Department of Revenue Brian Hamer, director This is an important legal document and should be retained as part of your permanent records. PTAX-301-C (R-7/02) IL-492-1158 10-0000230 ILLINOIS DEPARTMENT OF REVENUE OFFICE OF LOCAL GOVERNMENT SERVICES, 3-520 101 W. JEFFERSON STREET SPRINGFIELD, IL 62702 ACTION-DATE: 12-16-2011 DOCKET NUMBER: 11-016-00050 TERESA HOFFMAN LISTON 6101 CAPULING AVE MORTON GROVE IL 60053 szrt, -if -� e,;: Village of 4_ eViorton grove Office of the Corporation Counsel Telephone 847/663-3003 Fax 847/965-4162 June 9, 2011 Tracy Callaghan Cook County Board of Review 118 N. Clark Street,Room 601 Chicago, Illinois 60602 RE: Application by the Village of Morton Grove. Illinois For Non-homestead Property Tax Exemption PIN No: 10-20-113-015-0000 Commonly known as: 8533 Callie Avenue,Morton Grove, IL 60053 Dear Ms. Callaghan: To support the application of the Village of Morton Grove to exempt the above referenced property please find two sets of the following documents: 1. Property Tax Exemption Local Government Ownership Quick Check List; 2. Board of Review Real Estate Exemption complaint(B.R.Form R.E.E#7); 3. Illinois Departnient of Revenue Application(PTAX-300) (R-3/03); 4. Notarized Affidavit of Use; 5. Board of Review Exemption Petition; 6. Proof of Ownership(judgment); 7. Current tax bill; 8. Original photographs; 9. Plat of Survey; and 10. Hand-Drawn Floor Plan. If further documentation or information is needed, do not hesitate to contact me. Si erely, , 4,-<471•1,%;,.4.------ / ; Teresa Hoffnian4liston Corporation Counsel THL/mk cc: Daniel J. Staackmann,Village President Joseph F. Wade, Village Administrator M:\legal\Real Estate\8533 Callie,letter to Callaghan,6-I l.doc Richard T. Flickinger Municipal Center 6101 Capulina Avenue • Morton Grove. Illinois 60053-2985 a Tel: (847) 965-4100 Fax: (847) 965-4162 ti I 4, gM ° 9 20 o remit-0 o a Pi _- ttPrflt1tlir Ro i y O - $ f UIiUtfl a X n yid a 0 7 ' 3 E' ' m 11. ` - y 2__ c 'r is tr Z) l n . . m a at i g ..,r>_ -E - g : . • - o o m m o• m n w a z Z ° p a e eg 2- r re a __ m > Ir 1 hi z x O g�'�_- .ter. • v le c _: f p ' _ o cc 1, ts 4 • ` iat s .e 9• .- -: m'. rIe ` pe #,,:�,t may;: r Q,. 5..4 t fli 1 rtg ewe. 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Zi m Y0 5 a m o- m ( C x n q? .: v\ w c n � � y Eng g ' ° I ' ' O • o n D3Q w o ° ❑ L. N o � !mow >"17". � c e c a p N CD d o m o m � m .. ^ it v' • °_ Z m a ° n .. w' m �j' 'i A Ca N O m 00 V cc 9' r co N m ° � m 0 O it ■ A A, 3, n P 0 ❑ m < b v 7 "1 9 m o n Ro z\ Ni- a 7 P. 5 rD ro n a n y 7mm Z a 5 e ° o� .� z Z x m � n 3 �' m o b a waums z c N- --I- hti m m - c w x o p m 0 c „ a 5 M o c '' c w zE. m LZ k ti° w 'o '°1 " o �' n r ? t Z R m l21 O z m r A m P c c m o ' �- C o m ° 5 ° - an �' s 'So 'o b o n m m C E ^wt 'O m o ' ^' 5. 0 Mt r m , A m 7 a o o A F co ;1 m On nm < o R a ,- P '` 0 n tip 7 — c ro o 0 n m < ti 3 n , S A m = m x Illinois Department of Revenue PTAX-300 Application for Non-homestead Property Tax Exemption — County Board of Review Statement of Facts Complaint no.: Volume no.: IDOR docket number: County use only IDOR use only Part 1: Identify the property 1 Coo k County in which property is located 6 IC °aZ - I 1 j --C I,5.-C O C C Parcel identifyi ng number 2 U I. LL Uyk� O'" M o P tZ h rO u� t Attach a copy of the property's legal description if the county Property owner �� ,1'' has not assigned a number or if the property is a division. 3 25 33 `('c1 )�1.� Yt vQ 7 Dimensions or acreage of this property address of property 9 P Perk/ C, cg QC fe 4p Q/ Mortt;n C—(NO L� Cpc05 3 8 N�ry ..s 2,01 i City ZIP Date of ownersp 4 V I L L Li QJ � I 'l r tt vN (-1^C u t Attach a copy of proof of ownership(deed,contract for deed, Name of organizath6n applying for the exemption(i.e.,"applicant) title insurance policy,condemnation order and proof of 5 Yes No Is the applicant on Line 4 the lessee of the payment,eta) property? If'Yes,"write the dates the lease is in effect. From /ll / Pt To t Attach a copy of the contract or lease. Part 2: Identify any previous exemptions or applications (Providing this information will expedite processing.) 9 x Yes No Does the applicant have an Illinois sales tax exemption number? If"Yes,"write the exemption number. E- q i_a_e —_i_-9_1- 10 Yes X No Has a previous application been filed for this property or by this applicant? If"Yes,"write the Illinois Department of Revenue docket number, if known. Part 3: Identify the property's use 11 Identify the Illinois Com.fled .lutes citation for this application. 35 ILCS 200/ LC / ' G Or _ ILCS_/ 12 teny inco - derived from this property? If"Yes,"explain in detail. ff',j 1trt, , _: .-< • yla 13 V Yes _ No Does a unit of local government own this property? e If"Yes,"is the property located within its corporate boundaries? .?(Yes _ No 14/v9A Yes _ No If granting this application will reduce the property's assessed valuation by$100,000 or more, has the municipality, tof the nocopy school district, and community college district in which the property is located been notified that this application has and postal been filed? return receipts. 15 Describe the specific activities that take place on this property.Write the exact date each activity began and how frequently it takes place. PP.oPEC-T;- (S VprC/+i✓i. -HQ vr LA_AC-E PLfNi fl DCn,oL/xtf 1 r hND WSE fRoPefzrt re, Fu Ted 2F P4 AL-IL LA 6 16 1O/PtYes _No Did the activities described on Line 15 begin on the same date as the effective date of the lease on Line 5 or the date of ownership on Line 8,whichever is applicable? If"No,"explain in detail how the property was used between the lease or ownership date and the date these activities began. 17 Identify each building's use, square feet of ground area(SFGA), number of stories,and whether or not there is a basement. Use , No.of stories Basement?(Y/N) Building t I / c q S 59 4 . 3 I t y G I t Building 2 Y Building 3 This form is authorized as outlined by the Illinois Compiled Statutes,35 ILCS 200/15-5,16-70,and 16-130.Disclosure, PTAX-300 front(R-3/03) of this information is REQUIRED.This form has been approved by the Forms Management Center. IL-492-1157 Part 4: Attach documentation The following documents must be attached: • Proof of ownership(copy of the deed,contract for deed,title insurance policy,condemnation order and proof of payment, etc.) • Picture of the property • Notarized affidavit of use • Copies of any contracts or leases on the property The documents identified on Lines 18 through 23 may be attached to expedite processing.Mark an"X"next to any documents that are attached. 18_Audited financial statements for the most recent year 21 Plot plan of each building's location on the property with each 19 Copy of the applicant's bylaws and complete certified building and and area labeled with parcel identifying numbers recorded copy of Articles of Incorporation, including purpose and specific uses clause and all amendments i 22 Copy of any Illinois Department of Revenue Exemption 20 Copy of the notices to the municipality,school district, and Certificate community college district in which the property is located 23 .v Other(list) f"'1 A .-E SW- , ATfA((4 ) and postal return receipts if granting this application will reduce the property's assessed valuation by$100,000 or more Part 5: Identify the person to contact regarding this application Nit D Crrvv 24 TZ(es; it cfh LEc-fot. 25 II LQ e I ` Name of applicant's representative /� Owner's name(if'tf a plicant is not the owner) Ltt Int_ f-CLPwfif\ri (-"I (s ( O t (OU t I h A Mailing address(include rural route or P.O.box,if applicable) Mailing address(include rdral route or P.O.box,if applicable) ik /; Z(, C0cD5s k0rfN G--roue- .Z[, eg b0.5i) ivl of"to V� lY ( or)v City State ZIP City State ZIP ( Bill ) 9V — Li(OE x 3003 ( R47 ) tpS — qt op 30')3 Phone number Phone number Part 6: Signature and notarization State of Illinois )k._. ) SS. County of 0 I, fee... sA kcEt itt At) Li ST or) , CRect-arfCiU CourSCL , being duly sworn upon oath, say that I have read (Name) 1 (Position) the foregoing appli ion 7 allQtthe information is true and correct to the best of my knowledge and belief. OFFIQAL SAL (Affiant's signature) l / SUSAI'I LATINO Subscribed and sworn tO before.me this /& day of •fu�� .20 II . IN C01111181101SININASIM3 . / z- a, • (Notary ublic) t i Part 7: County Board of Review statement of facts 26 Current assessment $ For assessment year 20........ 27—Yes _ No Is this exemption application for a leasehold interest assessed to the applicant? If"Yes;'write the Illinois Department of Revenue docket number for the exempt fee interest to the owner, if known. _—__—————— 28 State all of the facts considered by the County Board of Review in recommending approval or denial of this exemption application. 29 County Board of Review recommendation Full year exemption Partial year exemption From To _ Partial exemption for the following described portion of the property: Deny exemption 30 Date of Board's action Part 8: County Board of Review certification I hereby certify this to be a correct statement of all facts arising in connection with proceedings on this exemption application. Mail to: OFFICE OF LOCAL GOVERNMENT SERVICES EXEMPTION SECTION (3-520) Clerk(or Secretary in Cook County)of the County Board of Review's signature ILLINOIS DEPARTMENT O REVENUE 101 WEST JEFFERSON STREET PTAX-300 back(R-3/03) SPRINGFIELD IL 62702 tom'' Village of s ag c�Viorton grove • Office of the Corporation Counsel Telephone 847/663-3003 Fax 847/965-4162 June 16, 2011 Cook County Board of Review 118 N. Clark Street,Room 601 Chicago, Illinois 60602 Illinois Department of Revenue Office of Local Government Service Exemption Section 3-520 101 W. Jefferson Street Springfield, Illinois 62702 RE: Application by the Village of Morton Grove, Illinois For Non-homestead Property Tax Exemption PIN No: 10-20-113-015-0000 Commonly know as: 8533 Callie Avenue, Morton Grove, IL 60053 AFFIDAVIT OF USE State of Illinois ) ) SS County of Cook ) Teresa Hoffman Liston being duly disposed and sworn on oath and states as follows: 1. I am the Corporation Counsel for the Village of Morton Grove, Illinois, and I have investigated the facts surrounding the above referenced application and am knowledgeable of the following information. 2. The Village of Morton Grove is seeking to exempt that property identified as PIN No: 10-20-113-015-0000. This property has been identified by the Cook County Assessor as 8533 Callie Avenue Street, Morton Grove, Illinois and is legally described as follows: Lot forty two (42) in Block four(4) in Bingham and Fernald's Morton Grove Subdivision being Lot forty(40) in the County Clerk's Division of Section twenty(20) and the East half of the North East quarter of Section nineteen (19), Township forty one (41) North, Range thirteen (13), East of the Third Principal meridian, except a tract two hundred (200) feet North and South by one hundred eighteen and nine tenths (118.9) feet East and West at the South West corner of said Lot forth (40). Richard T. Flickinger Municipal Center 6101 Capulina Avenue • Morton Grove, Illinois 60053-2985 e Tel: (847) 965-4100 Fax: (847) 965-4162 3. On May 25, 2011, the Village of Morton Grove acquired the property legally described in paragraph 2 above and commonly known ass 8533 Callie Avenue, Morton Grove, Illinois. The property is one frame 1'/: story building approximately 130 or more years old of approximately 1,095 square feet. The building is currently vacant. The Village intends to demolish the building, and use the property for a public parking lot or another public use. Further affiant sayeth not. fsa' Teresa Hoan Liston Corporatio)i Counsel Village of Morton Grove 6101 Capulina Morton Grove, IL 60053 Subscribed and sworn before me this //p f1/2 day of r2M • OFFICIAL a /6/4q/l) a777/ SUSANUnAZI Notary Pu. is NOTMCYPISLJC-STATE CFISS IS My Commission e pires: iilynL 4 20/3 MY co&MsmON CP1E SMIMPU M:Uegal\Real Estate\8533 Callie,Affidavit of Use,6-I l.doc GOVERNMENTAL EXEMPTION PETITIO State of Illinois County of Cook S S TO THE COOK COUNTY BOARD OF REVIEW THE UNDERSIGNED AFFIANT HEREBY CERTIFIES THAT PROPERTY IDENTIFIED ON THE LATEST REAL ESTATE TAX BILL EY PERMANENT REAL ESTATE INDEX NUMBER )0_ O -1(3-D 15 -d%oCCI TOWNSHIP Ni Lr-F S VOLUME 1 I (A) .g FULL IS NOW ENTITLED TO (B) D PARTIAL EXEMPTION (SEE NOTE A & B BELOW) FROM GENERAL REAL ESTATE TAXES: ACCORDING TO 35 ILCS 2001 _ 5/ 3S THAT SAID"PROPERTY IS OWNED AND USED BY THE PETITIONER EXCLUSIVELY FOP ITS PUBLIC GOVERNMENTAL PURPOSES: THAT SAID PROPERTY WAS ACQUIRED BY THE PETITIONER IN THE FOLLOWING MANNER: (1) BY DEED DATED hA Ac ;' D-.5" _2c I I , RECORDED ON Cute 1 i L./i AS DOCUMENT NUMBER /i / ;-1.00 LiC ,COPY OF DEED TO BE SUBMITTED (2) BY CONDEMNATION CASE NUMBER FILED ON AND ,':'LARD DEPOSITED ON (3) :.THERV,`,'S= AND DESCRIBED AS _Lot forty two (42) in Block four(4) in Bingham and Fernald's Morton Grove Subdivision _ being Lot forty(40) in the County Clerk's Division of Section twenty (20) and the East half of the North East quarter of Section nineteen (19), Township forty one (41)North, Range thirteen (13), East of the Third Principal meridian, except a tract two hundred (200) feet North and South by one hundred eighteen and nine tenths (118.9) feet East and West at the South West corner of said Lot forth (40). NAME AND ADDRESS OF C> I OWNER OF REMAINDE' iLLA cif-) MG(�,(U (J -1 if C Subscribed and sworn tobefore-me .///(owNe > this �� day o _ t-7 ' AUTHORIZED AGENT % . ( T6/2ESA }1✓ Fr- iR4, l-Y// (AFFIANTIaRI'. cct2AJU- 20 .0 ADDRESS I ( A '� 1 LP LIi�' �1 kGrL� � vF .'c TL., I, NOTARY PUBL ICI PHONE / I,' NOTE: A. FU_L TAKING Where all of the property covered in the latest real estate tax bill was taken for public government purposes, attach hereto said legal description. E: PARTIAL TAKING Where only a part of the property covered in the latest real estate;tax bill was taken for public governmental purposes,the following must be attached to this petition; 1. A Rot of Survey showing all dimensions and the location and ownership of any buildings them: 2 the legal-descriptions-of the part taken any the part remaining in private ownership: Ex. El CAMBRIDGE TITLE COMPANY °p° 1 152'`0050 Fee; Eugene •Gene•Moore FHSP $40.00 400 Central Avenue Cook County Fecor Fee:$;p_pp Northfield, IL 60093 Dele"psrpt/201 T p tl 2 Leeds M Pg; 1 of 3 MAIL TO: Teresa Hoffman Liston 6101 Capulina Ave. Morton Grove, IL 60053 [The Above Space For Recorder's Use Only]_ 1189- eL TRUSTEE'S DEED (ILLINOIS) THIS INDENTURE, made this aJ Tt4 day of May. 2011, between, LAVERNE CHARLES, VIRGINI/'- TORTORICE and JEAN NOVAK, as Successor Co-Trustees under the THE 8533 CALLIE AVENUE LAND TRUST dated the 17TH DAY OF JULY, 2010, grantor, and VILLAGE OF MORTON GROVE, a municipal corporation 6101 CAPULINA AVE, MORTON GROVE, IL 60053 , grantee, WITNESSETH, That grantor, in consideration of the sum of Ten and 00/100 ($10.00) Dollars, receipt whereof is hereby acknowledged, and in pursuance of the power and authority vested in the grantor as said trustee and of every other power and authority the grantor hereunto enabling, does hereby convey and quitclaim unto the grantee, in fee simple, the following described real estate, situated in the County of COOK in the State of Illinois, to wit: SEE LEGAL DESCRIPTION ATTACHED HERETO. together with the tenements, hereditaments and appurtenances thereunto belonging or in any wise appertaining. Permanent Real Estate Index Number(s): 10-20-113-015-D000 Address(es) of Real Estate: 8533 CALLIE AVE, MORTON GROVE, IL 60053 Dated this J day of May, 2011 ;crw G pl • - • LAVERNE CHARLES, as co-trustee aforesaid VIRGIN!' TORTORICE, as co-trustee aforesaid EXEMPTPURSUANrTO SECTION 1-11-5 VILLAGE OF MORTON GROVE REAL ESTATETRANSSFE7n STAMP EXEMPTION NO 07434 DATES/ ADDRESS 853;3 ea-//:e, �� ••. `-s co-trustee J 0- NOVAK, as co aforesaid By 11.ia.'ww rayc. L ui State of Illinois, County of ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that JEAN NOVAK appeared personally known to me to be the same persons whose name is subscribed to the foregoing instrument. instrument as her free ta and voluntary act, for the uses acknowledged nd purposes heei signed, set forth, iidncludi g the release and waiver of the right of homestead. Given under my hand and official seal, this -25-m- day of May, 2011 4A- 4 Notary Public CFFICIAl.SEAL My Commission Expires 01- or SUSAN LAMA wirlatihnotons This instrument was prepared by Bernard J. Michna, 400 Central Ave, Suite 230, Northfield, IL 60093 Send Subsequent Tax Bills to: VILLAGE OF MORTON GROVE, a municipal corporation, 6101 Capulina Avenue, Morton Grove, IL 60053 LEGAL DESCRIPTION LOT FORTY TWO (42) IN BLOCK FOUR (4) IN BINGHAM AND FERNALD'S MORTON GROVE SUBDIVISION BEING LOT FORTY (40) IN THE COUNTY CLERK'S DIVISION OF SECTION TWENTY (20) AND THE EAST HALF OF THE NORTH EAST QUARTER OF SECTION NINETEEN (19), TOWNSHIP FORTY ONE (41) NORTH, RANGE THIRTEEN (13), EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT A TRACT TWO HUNDRED (200) FEET NORTH AND SOUTH BY ONE HUNDRED EIGHTEEN AND NINE TENTHS (118.9) FEET EAST AND WEST AT THE SOUTH WEST CORNER OF SAID LOT FORTY (40). Subject only to the following, if any: general real estate taxes not due and payable at the time of Closing, covenants, conditions and restrictions of record, building lines and easements, if any, so long as they do not interfere with the current use and enjoyment of the real estate. I I I uwuuJU rave. a ui a State of Colorado, County of b-TA ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that LAVERNE CHARLES personally known to me to be the same persons whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. 'Given under my hand and official seal, this 11Th day of May, 2011 Notary Public KIMBERLY A. WRIGHT My Commission Ex Tres NOTARY PUBLIC P tO 2oiZ tH STATE OF COLORADO State of Illinois, County of Cook ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that VIRGINIA TORTORICE personally known to me to be the same persons whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. Given under my hand and official seal, this /1- day of May, 2011 J /. i, la Notary Public OFFICIAL SEAL My Commission Expires �i'tSt I SUSAN LAMA NOTARY Fusuc•STATE CF ILLOOS MY cramssoe t vc 01 Sns MAIL TO: Teresa Hoffman Liston 6101 Capulina Ave. Morton Grove, IL 60053 [The Above Space For Recorder's Use Only] TRUSTEE'S DEED (ILLINOIS) THIS INDENTURE, made this ai3 day of May, 2011, between, LAVERNE CHARLES, VIRGIN* TORTORICE and JEAN NOVAK, as Successor Co-Trustees under the THE 8533 CALLIE AVENUE LAND TRUST dated the 17TH DAY OF JULY, 2010, grantor, and VILLAGE OF MORTON GROVE, a municipal corporation 6101 CAPULINA AVE, MORTON GROVE, IL 60053 , grantee, WITNESSETH, That grantor, in consideration of the sum of Ten and 00/100 ($10.00) Dollars, receipt whereof is hereby acknowledged, and in pursuance of the power and authority vested in the grantor as said trustee and of every other power and authority the grantor hereunto enabling, does hereby convey and quitclaim unto the grantee, in fee simple, the following described real estate, situated in the County of COOK in the State of Illinois, to wit: SEE LEGAL DESCRIPTION ATTACHED HERETO. together with the tenements, hereditaments and appurtenances thereunto belonging or in any wise appertaining. Permanent Real Estate Index Number(s): 10-20-113-015-0000 Address(es) of Real Estate: 8533 CALLIE AVE, MORTON GROVE, IL 60053 Dated this day of May, 2011 4,11- LAVERNE CHARLES, as co-trustee aforesaid VIRGINI,TORTORICE, as co-trustee aforesaid J NOVAK, as co-trustee aforesaid • State of Colorado, County of bn-TA ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that LAVERNE CHARLES personally known to me to be the same persons whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. Given under my hand and official seal, this 1l114 day of May, 2011 Notary Public KIMBERLY A. WRIGHT NOTARY PUBLIC My Commission Expires l0 i 0 1 2012 ffi STATE OF COLORADO State of Illinois, County of Cook ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that VIRGINIA TORTORICE personally known to me to be the same persons whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. Given under my hand and official seal, this c):511- day of May, 2011 Notary Public My Expires 1 Gs OFFICIAL SEAL M Commission Ex ires D I a. SUSAN LAVINA NOTARY PUBLIC-STATE OF LLi.M4OIS MY CO& MSSION EXPIRESBIEBAS State of Illinois, County ofd ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that JEAN NOVAK personally known to me to be the same persons whose name is subscribed to the foregoing instrument. appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. Given under my hand and official seal, this °2S'7µ day of May, 2011 / Notary Public, OFFICIAL SEAL SUSANLAVNA My Commission Expires OI— Of t$.D I sTA�E it This instrument was prepared by Bernard J. Michna, 400 Central Ave, Suite 230, Northfield, IL 60093 Send Subsequent Tax Bills to: VILLAGE OF MORTON GROVE, a municipal corporation, 6101 Capulina Avenue, Morton Grove, IL 60053 LEGAL DESCRIPTION LOT FORTY TWO (42) IN BLOCK FOUR (4) IN BINGHAM AND FERNALD'S MORTON GROVE SUBDIVISION BEING LOT FORTY (40) IN THE COUNTY CLERK'S DIVISION OF SECTION TWENTY (20) AND THE EAST HALF OF THE NORTH EAST QUARTER OF SECTION NINETEEN (19), TOWNSHIP FORTY ONE (41) NORTH, RANGE THIRTEEN (13), EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT A TRACT TWO HUNDRED (200) FEET NORTH AND SOUTH BY ONE HUNDRED EIGHTEEN AND NINE TENTHS (118.9) FEET EAST AND WEST AT THE SOUTH WEST CORNER OF SAID LOT FORTY (40). Subject only to the following, if any: general real estate taxes not due and payable at the time of Closing, covenants, conditions and restrictions of record, building lines and easements, if any, so long as they do not interfere with the current use and enjoyment of the real estate. CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY ALTA Commitment Form SCHEDULE A File No.: 11879CL Commitment No.: 11879CL 1. Effective Date: APRIL 26, 2011 2. Policy or Policies to be issued: (a) ALTA 2006 Owners Policy X Amount: $135,000.00 Proposed Insured: VILLAGE OF MORTON GROVE, a municipal corporation (b) ALTA 2006 Loan Policy Amount: $0.00 Proposed Insured: NONE 3. The estate or interest in the land described or referred to in this Commitment and covered herein is a Fee Simple and title to said land is at the date hereof vested in: LAVERNE CHARLES,VIRGININA TORTORICE and JEAN NOVAK, AS SUCCESSOR CO-TRUSTEES OF THE 8533 CALLIE AVENUE LAND TRUST DATED JULY 17, 2010 4. The Land referred to herein is described on the attached Exhibit"A". Address of Property(For identification purposes only): 8533 CALLIE AVE, MORTON GROVE, IL 60053 Countersigned: Cambridge Title Company/Authorized Signatory Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY ALTA Commitment Form SCHEDULE B-1 REQUIREMENTS Commitment No.: 11879CL The following are the requirements to be complied with: A. Payment of the full consideration to, or for the account of, the grantors or mortgagors or the estate or interest to be insured. B. Recordation or registration of duly executed and delivered instruments sufficient to create the estate or interest to be insured. C. The Company reserves the right to raise any such additional exceptions and/or requirements as it deems necessary upon receipt of the details of the transaction and its review of the closing documents. II. Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: A. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the Effective Date but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. B. Rights or claims of parties in possession not shown by the public records. C. Easements, or claims of easements, not shown by the public records. D. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the Land. E. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY ALTA Commitment Form SCHEDULE B-2 EXCEPTIONS Commitment No.: 11879CL 1. The lien of taxes for the year 2010 and thereafter. Permanent Index Number: 10-20-113-015-0000 First Installment 2010 taxes $414.98 PAID Second Installment 2010 taxes $ NOT YET DUE OR PAYABLE NOTE: ALL PRIOR TAXES ARE PAID IN FULL. 2. NOTE: The policy to be issued contains an arbitration clause. Any matter in dispute between you and the Company may be subject to arbitration as an alternative to court action. Upon request, the Company will provide a copy of this clause and the accompanying arbitration rules prior to the closing of the transaction. Any decision reached by arbitration shall be binding upon both you and the Company. The arbitration award may include attorney's fees, if allowed by state law, and may be entered as a judgment in any court of proper jurisdiction. 3. NOTE: THE TERMS AND PROVISIONS OF THE ALTA 2006 COMMITMENT JACKET ARE INCORPORATED HEREIN AND THE COMMITMENT JACKET IS AVAILABLE UPON REQUEST. 4. FOR ALL ILLINOIS PROPERTY: Effective June 1, 2009, pursuant to Public Act 95-988, satisfactory evidence of identification must be presented for the notarization of any and all documents notarized by an Illinois Notary Public. Unit July 1, 2013, satisfactory identification documents are documents that are valid at the time of the notarial act; are issued by a state or federal government agency; bear the photographic image of the individual's face; and bear the individual's signature. 5. PURSUANT TO THE ILLINOIS GOOD FUNDS LAW (215 ILCS 155/26) EFFECTIVE JANUARY 1, 2010, IN CONNECTION WITH ANY ESCROWS, SETTLEMENTS OR CLOSINGS OUT OF A FIDUCIARY TRUST ACCOUNT OR ACCOUNTS WE WILL ACCEPT FUNDS IN THE AGGREGATE FROM ANY SINGLE PARTY TO THE TRANSACTION IN THE FOLLOWING FORMS: A. LESS THAN $50,000.00: CASHIER'S CHECKS, CERTIFIED CHECKS, BANK MONEY ORDERS, OFFICIAL BANK CHECKS, WIRED FUNDS, TITLE COMPANY CHECK, STATE OF ILLINOIS, LOCAL GOVERNMENT OR U.S. GOVERNMENT CHECK OR "COLLECTED FUNDS" Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY AS THAT TERM IS DEFINED BELOW. B. $50,000.00 AND ABOVE: WIRED FUNDS, TITLE COMPANY CHECK, STATE OF ILLINOIS, LOCAL GOVERNMENT OR U.S. GOVERNMENT CHECK OR "COLLECTED FUNDS" AS THAT TERM IS DEFINED BELOW: "COLLECTED FUNDS" MEANS FUNDS DEPOSITED, FINALLY SETTLED AND CREDITED TO THE TITLE COMPANY OR TITLE INSURANCE AGENT FIDUCIARY TRUST ACCOUNT. THE TITLE INSURANCE COMPANY, TITLE INSURANCE AGENT, OR INDEPENDENT ESCROW EE SHALL MAKE THE FINAL DETERMINATION AS TO WHETHER FUNDS TENDERED IN ANY OTHER FORM WILL BE ACCEPTED. 6. NOTE: NOT OPEN MORTGAGE OF RECORD FOUND 7. FOR INFORMATIONAL PURPOSES: Effective July 1, 2008, 765 ILSC 77/70 will become effective for all properties located in Cook County. Any mortgage recorded on or after July 1st, 2008 within Cook County will require a Certificate of Compliance or an Exempt Certificate issued from the State of Illinois Anti-Predatory Lending Database. ***Effective July 1st, 2010 any mortgage recorded on or after July 1st, 2010 within Will, Kane or Peoria Counties will require a Certificate of Compliance or Exempt Certificate issued from the State of Illinois Anti-Predatory Lending Database.*** 8. FOR COOK COUNTY PROPERTY: Effective June 1, 2009, if any document of conveyance for Cook County residential real estate property is to be notarized by an Illinois Notary Public, Public Act 95-988 requires the completion of a notarial record for each grantor whose signature is notarized. The notarial record will include the thumbprint or fingerprint of the grantor. The grantor must present identification documents that are valid; are issued by State or Federal government agency; bear the photographic image of the individual's face; and bear the individual's signature. The company will charge $25.00 per notarial record. 9. Pursuant to the tax reform act of 1986, Title 1, Subtitle C, Section 1521, the settlement agent is required to report real estate transactions. Relative thereto, we note the following and require: A. We must be furnished at closing the tax identification numbers of the recipients of any or all of the net proceeds of the transaction. B. Failure to comply with the regulation will result in a 20 percent holdback to be deposited with the Internal Revenue Service pursuant to the aforesaid act. 10. Pursuant to Illinois Revised Statutes Chapter 73, New Paragraph 466B in the event our information reveals a state lien and/or judgment for which we do not receive either a satisfaction or payoff letter at closing, the closing of this transaction may be cancelled. 11. Terms, powers and provisions of the trust under which title to the land is held. 12. Subject to the Village of Morton Grove Ordinance 87-51 imposing a real estate transfer tax of$3.00 per $1,000.00 upon the Seller. END OF SCHEDULE B Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY ALTA Commitment Form EXHIBIT A Commitment No.: 11879CL LEGAL DESCRIPTION LOT FORTY TWO (42) IN BLOCK FOUR (4) IN BINGHAM AND FERNALD'S MORTON GROVE SUBDIVISION BEING LOT FORTY (40) IN THE COUNTY CLERK'S DIVISION OF SECTION TWENTY (20) AND THE EAST HALF OF THE NORTH EAST QUARTER OF SECTION NINETEEN (19),TOWNSHIP FORTY ONE (41)NORTH, RANGE THIRTEEN (13), EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT A TRACT TWO HUNDRED (200) FEET NORTH AND SOUTH BY ONE HUNDRED EIGHTEEN AND NINE TENTHS (118.9) FEET EAST AND WEST AT THE SOUTH WEST CORNER OF SAID LOT FORTY (40). Commonly known as: 8533 CALLIE AVE, MORTON GROVE, IL 60053 Permanent Index No.: 10-20-113-015-0000 Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY ALTA Commitment Form SCHEDULE A File No.: 11879CL Commitment No.: 11879CL 1. Effective Date: APRIL 26, 2011 2. Policy or Policies to be issued: (a) ALTA 2006 Owners Policy X Amount: $135,000.00 Proposed Insured: VILLAGE OF MORTON GROVE, a municipal corporation (b) ALTA 2006 Loan Policy Amount: $0.00 Proposed Insured: NONE 3. The estate or interest in the land described or referred to in this Commitment and covered herein is a Fee Simple and title to said land is at the date hereof vested in: LAVERNE CHARLES, VIRGININA TORTORICE and JEAN NOVAK, AS SUCCESSOR CO-TRUSTEES OF THE 8533 CALLIE AVENUE LAND TRUST DATED JULY 17, 2010 4. The Land referred to herein is described on the attached Exhibit"A". Address of Property(For identification purposes only): 8533 CALLIE AVE, MORTON GROVE, IL 60053 Countersigned: Cambridge Title Company/Authorized Signatory Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY ALTA Commitment Form SCHEDULE B-1 REQUIREMENTS Commitment No.: 11879CL The following are the requirements to be complied with: A. Payment of the full consideration to, or for the account of, the grantors or mortgagors or the estate or interest to be insured. B. Recordation or registration of duly executed and delivered instruments sufficient to create the estate or interest to be insured. C. The Company reserves the right to raise any such additional exceptions and/or requirements as it deems necessary upon receipt of the details of the transaction and its review of the closing documents. II. Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: A. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the Effective Date but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. B. Rights or claims of parties in possession not shown by the public records. C. Easements, or claims of easements, not shown by the public records. D. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the Land. E. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY ALTA Commitment Form SCHEDULE B-2 EXCEPTIONS Commitment No.: 11879CL 1. The lien of taxes for the year 2010 and thereafter. Permanent Index Number: 10-20-113-015-0000 First Installment 2010 taxes $414.98 PAID Second Installment 2010 taxes $ NOT YET DUE OR PAYABLE NOTE: ALL PRIOR TAXES ARE PAID IN FULL. 2. NOTE: The policy to be issued contains an arbitration clause. Any matter in dispute between you and the Company may be subject to arbitration as an alternative to court action. Upon request, the Company will provide a copy of this clause and the accompanying arbitration rules prior to the closing of the transaction. Any decision reached by arbitration shall be binding upon both you and the Company. The arbitration award may include attorney's fees, if allowed by state law, and may be entered as a judgment in any court of proper jurisdiction. 3. NOTE: THE TERMS AND PROVISIONS OF THE ALTA 2006 COMMITMENT JACKET ARE INCORPORATED HEREIN AND THE COMMITMENT JACKET IS AVAILABLE UPON REQUEST. 4. FOR ALL ILLINOIS PROPERTY: Effective June 1, 2009, pursuant to Public Act 95-988, satisfactory evidence of identification must be presented for the notarization of any and all documents notarized by an Illinois Notary Public. Unit July 1, 2013, satisfactory identification documents are documents that are valid at the time of the notarial act; are issued by a state or federal government agency; bear the photographic image of the individual's face; and bear the individual's signature. 5. PURSUANT TO THE ILLINOIS GOOD FUNDS LAW (215 ILCS 155/26) EFFECTIVE JANUARY 1, 2010, IN CONNECTION WITH ANY ESCROWS, SETTLEMENTS OR CLOSINGS OUT OF A FIDUCIARY TRUST ACCOUNT OR ACCOUNTS WE WILL ACCEPT FUNDS IN THE AGGREGATE FROM ANY SINGLE PARTY TO THE TRANSACTION IN THE FOLLOWING FORMS: A. LESS THAN $50,000.00: CASHIER'S CHECKS, CERTIFIED CHECKS, BANK MONEY ORDERS, OFFICIAL BANK CHECKS, WIRED FUNDS, TITLE COMPANY CHECK, STATE OF ILLINOIS, LOCAL GOVERNMENT OR U.S. GOVERNMENT CHECK OR "COLLECTED FUNDS" Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY AS THAT TERM IS DEFINED BELOW. B. $50,000.00 AND ABOVE: WIRED FUNDS, TITLE COMPANY CHECK, STATE OF ILLINOIS, LOCAL GOVERNMENT OR U.S. GOVERNMENT CHECK OR "COLLECTED FUNDS" AS THAT TERM IS DEFINED BELOW: "COLLECTED FUNDS" MEANS FUNDS DEPOSITED, FINALLY SETTLED AND CREDITED TO THE TITLE COMPANY OR TITLE INSURANCE AGENT FIDUCIARY TRUST ACCOUNT. THE TITLE INSURANCE COMPANY, TITLE INSURANCE AGENT, OR INDEPENDENT ESCROWEE SHALL MAKE THE FINAL DETERMINATION AS TO WHETHER FUNDS TENDERED IN ANY OTHER FORM WILL BE ACCEPTED. 6. NOTE: NOT OPEN MORTGAGE OF RECORD FOUND 7. FOR INFORMATIONAL PURPOSES: Effective July 1, 2008, 765 ILSC 77/70 will become effective for all properties located in Cook County. Any mortgage recorded on or after July 1st, 2008 within Cook County will require a Certificate of Compliance or an Exempt Certificate issued from the State of Illinois Anti-Predatory Lending Database. ***Effective July 1st, 2010 any mortgage recorded on or after July 1st, 2010 within Will, Kane or Peoria Counties will require a Certificate of Compliance or Exempt Certificate issued from the State of Illinois Anti-Predatory Lending Database."' 8. FOR COOK COUNTY PROPERTY: Effective June 1, 2009, if any document of conveyance for Cook County residential real estate property is to be notarized by an Illinois Notary Public, Public Act 95-988 requires the completion of a notarial record for each grantor whose signature is notarized. The notarial record will include the thumbprint or fingerprint of the grantor. The grantor must present identification documents that are valid; are issued by State or Federal govemment agency; bear the photographic image of the individual's face; and bear the individual's signature. The company will charge $25.00 per notarial record. 9. Pursuant to the tax reform act of 1986, Title 1, Subtitle C, Section 1521, the settlement agent is required to report real estate transactions. Relative thereto, we note the following and require: A. We must be furnished at closing the tax identification numbers of the recipients of any or all of the net proceeds of the transaction. B. Failure to comply with the regulation will result in a 20 percent holdback to be deposited with the Internal Revenue Service pursuant to the aforesaid act. 10. Pursuant to Illinois Revised Statutes Chapter 73, New Paragraph 466B in the event our information reveals a state lien and/or judgment for which we do not receive either a satisfaction or payoff letter at closing, the closing of this transaction may be cancelled. 11. Terms, powers and provisions of the trust under which title to the land is held. 12. Subject to the Village of Morton Grove Ordinance 87-51 imposing a real estate transfer tax of$3.00 per$1,000.00 upon the Seller. END OF SCHEDULE B Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY ALTA Commitment Form EXHIBIT A Commitment No.: 11879CL LEGAL DESCRIPTION LOT FORTY TWO (42) IN BLOCK FOUR (4) IN BINGHAM AND FERNALD'S MORTON GROVE SUBDIVISION BEING LOT FORTY (40) IN THE COUNTY CLERK'S DIVISION OF SECTION TWENTY (20) AND THE EAST HALF OF THE NORTH EAST QUARTER OF SECTION NINETEEN (19), TOWNSHIP FORTY ONE (41) NORTH, RANGE THIRTEEN (13), EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT A TRACT TWO HUNDRED (200) FEET NORTH AND SOUTH BY ONE HUNDRED EIGHTEEN AND NINE TENTHS (118.9) FEET EAST AND WEST AT THE SOUTH WEST CORNER OF SAID LOT FORTY (40). Commonly known as: 8533 CALLIE AVE, MORTON GROVE, IL 60053 Permanent Index No.: 10-20-113-015-0000 Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 CAMBRIDGE TITLE COMPANY INVOICE FOR ESTIMATED TITLE CHARGES INVOICE DATE: May 20, 2011 Customer Reference: 8553 CALLIE AVE LAND TRUST Owner's: $135,000.00 Mortgagee: $0.00 Commitment No.: 11879CL File No.: 11879CL NOTE: Charges for title insurance are not comparable unless they cover similar or equivalent services. CUSTOMARY SELLER'S CHARGES 1. Owner's Policy Charge $1,060.00 2. State Transfer Stamps 0.00 3. County Transfer Stamps 0.00 4. Recording Fees 0.00 5. Closing Fee (1/2) 375.00 6. Survey 450.00 7. City Transfer Tax 0.00 8. Overnight Mail 30.00 9. IL DFI Policy Fee 3.00 10. CPL Fee 50.00 11. Notary Fee 25.00 12. Later Date Fee 100.00 13. TOTAL (Items 2 through 12) $1,0'13.00 TOTAL SELLER'S CHARGES $2,093.00 CUSTOMARY BUYER'S CHARGES 1. Mortgagee Policy Charge $0.00 2. Recording Fees (estimated) 50.00 3. Closing fee (1/2) 375.00 4. EPA Endorsement 0.00 5. All other endorsements (each) 0.00 6. Commitment Update fee 100.00 7. IL Anti-Predatory Lending Cert 0.00 8. Wire/Email/Overnight Mail Fee 25.00 9. IL DFI Policy fee 0.00 10. City of Chicago Transfer Tax 0.00 11. CPL Fee 25.00 12. TOTAL (Items 2 through 11) $575.00 TOTAL BUYER'S CHARGES $575.00 TOTAL INVOICE- SELLER'S AND BUYER'S CHARGES $2,668.00 •Commonwealth ATTENTION: Date:May 20,2011 Property Address:8533 CALLIE AVE..MORTON GROVE,IL 60053 SETTLEMENT AGENT Commitment Number:11879CL Cambridge Tille Company All Offices See Attached Exhibit A Seller:8533 CALLIE AVENUE LAND TRUST DATED JULY 17,2010 Buyers/Borrowers:VILLAGE OF MORTON GROVE,A MUNICIPAL CORPORATION To Whom It May Concern: Commonwealth Land Title Insurance Company Title Insurance Company (the 'Company") agrees, subject to the Conditions and Exclusions set forth below, to reimburse you for actual loss, not to exceed the amount of the settlement funds deposited with the Settlement Agent incurred by you in connection with closing of the referenced real estate transaction conducted by the Settlement Agent,provided that the fees for the Company's title insurance and this Closing Protection Letter have been paid prior to or at the closing or settlement and you are: A. a seller,provided title insurance of the Company is specified for the protection of your purchaser or your purchaser's lender, B. a purchaser and/or borrower,provided title insurance of the Company is specified for your protection or for the protection of your lender;or C. a lender secured by a mortgage(including any other security instrument)of an interest in land,its assignees,or a warehouse lender,provided title insurance of the Company is specified for your protection; and provided the loss arises out of: 1. Failure of the Settlement Agent to comply with your written closing instructions to the extent that they relate to(a)the status of the title to an interest in land or the validity,enforceability and priority of the lien of the mortgage on an interest in land, including the obtaining of documents and the disbursement of funds necessary to establish the status of title or lien, or(b)the obtaining of any other document, specifically required by you, but only to the extent the failure to obtain the other document affects the status of the title to an interest in land or the validity, enforceability and priority of the lien of the mortgage on an interest in land;or 2. Fraud, dishonesty or negligence of the Settlement Agent in handling your funds (including funds shown as to be paid to you or on your behalf on the settlement statement prepared by the Settlement Agent)or documents in connection with the subject closing to the extent that fraud,dishonesty or negligence relates to the status of title to an interest in land or to the validity,enforceability,and priority of the lien of the mortgage on an interest in land. Conditions and Exclusions: 1. The Company will not be liable to you for loss arising out of: A. Failure of the Settlement Agent to comply with closing instructions which require title insurance protection inconsistent with that set forth in the title insurance binder or commitment issued by the Company. Instructions which require the removal of specific exceptions to title or compliance with the requirements contained in the binder or commitment shall not be deemed to be inconsistent. B. Loss or impairment of funds in the course of collection or while on deposit with a bank due to bank failure,insolvency or suspension,except as shall result from failure of the Settlement Agent to comply with written closing instructions to deposit the funds in a bank that is designated by name by a party to the real estate transaction. C. Mechanics'and materialmen's liens in connection with your sale, purchase, lease or construction loan transaction, except to the extent that protection against those liens is afforded by a title insurance commitment or policy issued by the Settlement Agent. D. Failure of the Settlement Agent to comply with written closing instructions to the extent that such instructions require a determination by the Settlement Agent of the validity,enforceability,or effectiveness of any document described in subitem(1)(b)of the covered losses described above. E. Fraud,dishonesty or negligence of an employee,agent.attorney or broker,who is not also the Settlement Agent or an independent contract closer of the Settlement Agent. F. Your settlement or release of any claim without the written consent of the Company. G. Any matters created, suffered, assumed or agreed to by you or known to you without your written disclosure to the Company and without the written consent of the Company. 2. When the Company shall have reimbursed you pursuant to this letter,it shall be subrogated to all rights and remedies which you would have had against any person or property had you not been so reimbursed. Liability of the Company for reimbursement shall be reduced to the extent that you have knowingly and voluntarily impaired the value of this right of subrogation. 3. The Settlement Agent is the Company's agent only for the limited purpose of issuing title insurance policies, The Settlement Agent is not the Company's agent for the purpose of providing closing or settlement services. The Company's liability for your losses arising from closing or settlement services is strictly limited to the protection expressly provided in this letter. Any liability of the Company for loss does not include liability for loss resulting from the fraud, dishonesty, or negligence of any party noted at 1E above of these Conditions and Exclusions or any party to a real estate transaction other than a Settlement Agent; the lack of creditworthiness of any borrower connected with a real estate transaction, or the failure of any collateral to adequately secure a loan connected with a real estate transaction. However, this letter does not affect the Company's liability with respect to its title insurance binders,commitments or policies,except that payment of loss under this letter shall reduce correspondingly any amount of insurance under such binders,commitments or policies. 4. The total cumulative amount of liability of the Company to all parties under this and any and all other closing protection letters relating to this transaction shall not exceed the amount of the settlement funds deposited with the Settlement Agent. 5. This closing protection letter is effective only if the closing is on residential property, or if on nonresidential property, where settlement funds are less than $2,000,000.00 6. You must promptly send written notice of a claim under this letter to the Company at its principal office at P.O.Box 45023.Jacksonville.Florida 32232-5023. The Company is not liable for a loss if the written notice is not received within ninety days from the discovery by you of a matter you believe to oe compensable under this letter. 7. Any previous closing protection letter or similar agreement is hereby cancelled. Commonwealth Land Title Insurance Company By: n Joe Reinhardt,Senior Vice President LETTER ID:2011.5.20.16.53.8345566 Agent: IL0151 Please direct all correspondence and inquiries to:505 E North Ave-Carol Stream-IL-6D188 Telephone-(630)510-4136-Fax-(630)690-2196 THIS LETTER IS ONLY AUTHORIZED FOR USE IN ILLINOIS Exhibit A • Letter ID:2011.5.20.16.53.8345566 Cambridge Title Company 3100 Dundee Rd Ste 911 Northbrook,IL 60062 Cambridge Title Company 400 Central Ave Ste 230 Northfield,IL 60093 Cook County Treasurer's Office 1 Property Tax &Payment Information Page 1 of 2 Pm" `°`` • e Office of Cook County Treasurer- Maria Pappas Click icon to ` 'rao z Cook County Property Tax&Payment Information send C Printed copies of this information may not be used as a tax bill. page to dr „o'y Payments must be submitted with original tax bill. printer Property Index Number(PIN): 10-20-113-015-0000 2010 Tax Year Information - Payable in 2011 Tax Year: 2010 Tax Type: Current Tax Volume: 117 PCL: 2-03 Property Location 8533 CALLIE AVE MORTON GROVE,IL 60053-2802 Mailing Information ANNA KARLESKY 8533 CALLIE AV MORTON GROVE, IL 60053-2802 Exemption Information Exemptions do not become effective until the second installment. Tax Payment Information Installment Tax Amount Billed Tax Due Date Last Payment Date Rece Received 1st $414.98 04/01/2011 $414.98 03/( Balance Due: $0.00 The balance due,including Payments processed 2009 Tax Year Information - Payable in 2010 Tax Year: 2009 Tax Type: Current Tax Volume: 117 PCL: 2-03 Property Location 8533 CALLIE AVE MORTON GROVE, IL 60053-2802 Mailing Information ANNA KARLESKY 8533 CALLIE AV MORTON GROVE,IL 60053-2802 Exemption Information Homeowner Exemption Received: YES Senior Citizen Exemption Received: YES Senior Freeze Exemption Received: YES Tax Payment Information Installment Tax Amount Billed Tax Due Date Last Payment Date Reci Received 1st $417.44 03/02/2010 $417.44 03/( 2nd $337.06 12/13/2010 $337.06 11/: Balance Due: $0.00 The balance due,including Payments processed http://www.cookcountytreasurer.com/paymentprintout.aspx?type=current&pin=102011301... 6/1/2011 1 c 1 e. 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CI f ,..Y i dO I i I Nr i. ■.,r) ? . ( ,r \-v 1 , 1 I , H I 1------r-7— . 1 ,notrO St . i 1 __..,.... —....... ' ) — —- I ....,, I ti ., r --.. ...) , , _ , — C L C.), ,-- i - o - ! - • , c: CO Z 1---T /r i ,, 1 I -7- -°,-iv i 1 • . io I •„„acw 1< 15 , „fr—.El i . D CL Ct --I u H t ,\z I 1 I 1 1 i . 7-Fl >. i 4 V .l N s L cc i er } j 1 \ s if ! 0 '1 141 it, q ` �I f ---1-'.. w' C ` ci v1 I . , o V , L 9 1-Y 1C e !E-- , £I > 3 E1O' a il i N Doc# e IIIIIIIIII1I1 I I I::III Eugene 'Gene Moore e$4000 0 CAMBRIDGE TITLE COMPANY Cook County Recortler of Deeds $ 400 Central Avenue Date: 06/07/2077 01.52 PM Pg; 1 of 3 Northfield, IL 60093 MAIL TO: Teresa Hoffman Liston 6101 Capulina Ave. Morton Grove, IL 60053 [The Above Space For Recorder's Use Only] 1 I 8��1 et_ TRUSTEE'S DEED (ILLINOIS) THIS INDENTURE, made this 0% T day of May, 2011, between, LAVERNE CHARLES, VIRGINI4- TORTORICE and JEAN NOVAK, as Successor Co-Trustees under the THE 8533 CALLIE AVENUE LAND TRUST dated the 17TH DAY OF JULY, 2010, grantor, and VILLAGE OF MORTON GROVE, a municipal corporation 6101 CAPULINA AVE, MORTON GROVE, IL 60053 , grantee, WITNESSETH, That grantor, in consideration of the sum of Ten and 00/100 ($10.00) Dollars, receipt whereof is hereby acknowledged, and in pursuance of the power and authority vested in the grantor as said trustee and of every other power and authority the grantor hereunto enabling, does hereby convey and quitclaim unto the grantee, in fee simple, the following described real estate, situated in the County of COOK in the State of Illinois, to wit: SEE LEGAL DESCRIPTION ATTACHED HERETO. together with the tenements, hereditaments and appurtenances thereunto belonging or in any wise appertaining. Permanent Real Estate Index Number(s): 10-20-113-015-0000 Address(es) of Real Estate: 8533 CALLIE AVE, MORTON GROVE, IL 60053 Dated this ak day of May, 2011 - l LAVERNE CHARLES, as co-trustee aforesaid VIRGINI"TORTORICE, as co-trustee aforesaid EXEMPT-PURSUANT TO SECTION 1-11-5 VILLAGE OF MORTON GROVE REAL ESTATE TRANSF- S'AMP 07434 � / LI/X R E5 8s-33 Cca,///c J NOVAK, as co-trustee aforesaid /Z_)- , _ State of Illinois, County of 6CCAL ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that JEAN NOVAK personally known to me to be the same persons whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. Given under my hand and official seal, this °2S714- day of May, 2011 toc) Notary Public OFFICIAL VVINA My Commission Expires GI— CS 40I t �fruruc'STARE PIIIII OIn6 MN CCMrlMOMi�llts This instrument was prepared by Bernard J. Michna, 400 Central Ave, Suite 230, Northfield, IL 60093 Send Subsequent Tax Bills to: VILLAGE OF MORTON GROVE, a municipal corporation, 6101 Capulina Avenue, Morton Grove, IL 60053 LEGAL DESCRIPTION LOT FORTY TWO (42) IN BLOCK FOUR (4) IN BINGHAM AND FERNALD'S MORTON GROVE SUBDIVISION BEING LOT FORTY (40) IN THE COUNTY CLERKS DIVISION OF SECTION TWENTY (20) AND THE EAST HALF OF THE NORTH EAST QUARTER OF SECTION NINETEEN (19), TOWNSHIP FORTY ONE (41) NORTH, RANGE THIRTEEN (13), EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT A TRACT TWO HUNDRED (200) FEET NORTH AND SOUTH BY ONE HUNDRED EIGHTEEN AND NINE TENTHS (118.9) FEET EAST AND WEST AT THE SOUTH WEST CORNER OF SAID LOT FORTY (40). Subject only to the following, if any: general real estate taxes not due and payable at the time of Closing, covenants, conditions and restrictions of record, building lines and easements, if any, so long as they do not interfere with the current use and enjoyment of the real estate. State of Colorado, County of baTA ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that LAVERNE CHARLES personally known to me to be the same persons whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. Given under my hand and official seal, this nis day of May, 2011 Q' WIt1 KIMBERLY A. HT Notary Public NOTARY A PUBLIC WRIG My Commission Expires Q) '2012 ffi STATE OF COLORADO State of Illinois, County of Cook ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that VIRGINIA TORTORICE personally known to me to be the same persons whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. Given under my hand and official seal, this aS- day of May, 2011 Oa is Notary Public My Commission Expires Di --- Gs ND I a. SUSAN LAVINA NOTARY PUBLIC•STATE OF ILLINOIS MY COMMISSION EXPIRESOiCtt5 • i \ \11:K11 )t . I . 1 11 1 1 ( `( }\ 11 '.\t\ 400 CENTRAL AVE., SUITE 210 NORTHFIELD, IL 60093 (847) 446-3000 J14% 201 June 8, 2011 Vi l fade aF WI-on @rDVc to 1 Cat wU0-a.- Me- Mou rn G-►'aye, IL_ 0,005 ! Re: File No: 11879CL Property: 8533 CALLIE AVE*, MORTON GROVE, IL 60053 Borrower VILLAGE OF MORTON GROVE Dear MAY fi 1. Enclosed please find the following items in connection with the above-referenced closing: ( X ) Cambridge Title Company Owner Title Policy No. IL0151-81-11879CL. 00 Recorded Deed. It has been a pleasure to be of service. Very truly yours, CAMBRIDGE TITLE COMPANY r.Commonwealth " Policy No: IL0151-81-11879CL-2011.81306-83579664 OWNER'S POLICY OF TITLE INSURANCE Issued by Commonwealth Land Title Insurance Company Any notice of claim and any other notice or statement in writing required to be given to the Company under this Policy must be given to the Company at the address shown in Section 18 of the Conditions. COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B, AND THE CONDITIONS, COMMONWEALTH LAND TITLE INSURANCE COMPANY, a Nebraska corporation (the "Company") insures, as of Date of Policy and, to the extent stated in Covered Risks 9 and 10, after Date of Policy, against loss or damage, not exceeding the Amount of Insurance, sustained or incurred by the Insured by reason of: 1. Title being vested other than as stated in Schedule A. 2. Any defect in or lien or encumbrance on the Title. This Covered Risk includes but is not limited to insurance against loss from (a) A defect in the Title caused by (i) forgery,fraud, undue influence, duress, incompetency, incapacity,or impersonation; (ii) failure of any person or Entity to have authorized a transfer or conveyance; (iii) a document affecting Title not properly created, executed, witnessed, sealed, acknowledged, notarized, or delivered; (iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified, expired, or otherwise invalid power of attorney; (vi) a document not properly filed, recorded, or indexed in the Public Records including failure to perform those acts by electronic means authorized by law; or (vii)a defective judicial or administrative proceeding. (b) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable, but unpaid. (c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land. The term "encroachment" includes encroachments of existing improvements located on the Land onto adjoining land, and encroachments onto the Land of existing improvements located on adjoining land. 3. Unmarketable Title. 4. No right of access to and from the Land. 5. The violation or enforcement of any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (a) the occupancy, use, or enjoyment of the Land; (b) the character,dimensions, or location of any improvement erected on the Land; (c) the subdivision of land; or (d) environmental protection if a notice, describing any part of the Land, is recorded in the Public Records setting forth the violation or intention to enforce, but only to the extent of the violation or enforcement referred to in that notice. 6. An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action, describing any part of the Land, is recorded in the Public Records, but only to the extent of the enforcement referred to in that notice. 7. The exercise of the rights of eminent domain if a notice of the exercise, describing any part of the Land, is recorded in the Public Records. 8. Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge. 9. Title being vested other than as stated in Schedule A or being defective (a) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under Form 81306 Dbl Cover—ALTA Owners Policy(06/17/06) Reorder1190-127 NJRB 1-15 Effective: 2/15/07 Revised: 9/10/07 Copyright American Land Title Association.All rights reserved.The use of this Form is restricted 10 ALTA licensees and ALTA mo members in eood standing as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association asna S federal bankruptcy, state insolvency, or similar creditors' rights laws; or (b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records (i) to be timely, or (ii) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 10. Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs, attorneys'fees, and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions. t I IT SS WHEREOF,the Company has caused this Policy to be signed with the facsimile signatures of its President . S= etary and se ed as rewired by its By-Laws. 1 YYONWEALTN LAND TITLE INSURANCE COMPANY mr a ar: �n. . g1�.0-L- I (SEALI^ (�j�/l4 n.k.k, szsesiO Authorized Signatory ) s»;f /f- s,,esss IL0151 11879CL Cambridge Title Company 400 Central Ave Ste 230 Northfield, IL 60093 Tel:(847)446-3000 Fax:(847)446-9716 Form 81306 Dbl Cover—ALTA Owners Policy(06/17/06) Reorder 1190-127 NJRB 1-15 Effective: 2/15/07 Revised: 9/10/07 Copyright American Land Title Association..All rights reserved.The use of this Form is restricted to ALTA licensees and ALTA a members in Rood standine as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association assmsa S COMMONWEALTH LAND TITLE INSURANCE COMPANY OWNER'S POLICY OF TITLE INSURANCE SCHEDULE A Policy No.: IL0151-81-11879CL-2011.81306-83579664 File No.: 11879CL Effective Date: JUNE 1, 2011 Amount of Insurance: $135,000.00 1. Name of Insured: VILLAGE OF MORTON GROVE, a municipal corporation 2. The estate or interest in the land described herein and which is covered by this policy is, at the effective date hereof, vested in the named insured and is a fee simple (if other, specify same): 3. The land referred to in this policy is described as follows: See Legal Description Attached PERMANENT INDEX NO. 10-20-113-015-0000 COMMONWEALTH LAND TITLE INSURANCE COMPANY Otattgeet_ By: Authorized Officer or Agent Issuing Agent: CAMBRIDGE TITLE COMPANY Address: 400 CENTRAL, SUITE 230, NORTHFIELD, IL 60093 Telephone: (847)446-3000 COMMONWEALTH LAND TITLE INSURANCE COMPANY OWNER'S POLICY SCHEDULE A - CONTINUED Policy No.: IL0151-81-11879CL-2011.81306-83579664 File No.: 11879CL 3. LEGAL DESCRIPTION: LOT FORTY TWO (42) IN BLOCK FOUR (4) IN BINGHAM AND FERNALD'S MORTON GROVE SUBDIVISION BEING LOT FORTY (40) IN THE COUNTY CLERK'S DIVISION OF SECTION TWENTY (20) AND THE EAST HALF OF THE NORTH EAST QUARTER OF SECTION NINETEEN (19), TOWNSHIP FORTY ONE (41) NORTH, RANGE THIRTEEN (13), EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT A TRACT TWO HUNDRED (200) FEET NORTH AND SOUTH BY ONE HUNDRED EIGHTEEN AND NINE TENTHS (118.9) FEET EAST AND WEST AT THE SOUTH WEST CORNER OF SAID LOT FORTY(40). PERMANENT INDEX NO. 10-20-113-015-0000 COMMONWEALTH LAND TITLE INSURANCE COMPANY OWNER'S POLICY SCHEDULE B Policy No.: IL01 51-81-1 1 879CL-2011.81306-83579664 File No.: 11879CL EXCEPTIONS FROM COVERAGE This policy does not insure against loss or damage and the Company will not pay costs, attorneys'fees or expenses which arise by reason of: 1. The lien of taxes for the year 2010 and thereafter. Permanent Index Number: 10-20-113-015-0000 First Installment 2010 taxes $414.98 PAID Second Installment 2010 taxes $ NOT YET DUE OR PAYABLE NOTE: ALL PRIOR TAXES ARE PAID IN FULL. END OF SCHEDULE B EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys'fees, or expenses that arise by reason of: 1. (a) Any law, ordinance, permit, or governmental regulation (including those relating to building and zoning) restricting, regulating, prohibiting, or relating to (i) the occupancy, use, or enjoyment of the Land; (ii) the character, dimensions, or location of any improvement erected on the Land; (iii) the subdivision of land; or (iv) environmental protection; or the effect of any violation of these laws, ordinances, or governmental regulations. This Exclusion 1(a) does not modify or limit the coverage provided under Covered Risk 5. (b) Any governmental police power. This Exclusion 1(b) does not modify or limit the coverage provided under Covered Risk 6. 2. Rights of eminent domain. This Exclusion does not modify or limit the coverage provided under Covered Risk 7 or 8. 3. Defects, liens, encumbrances, adverse claims, or other matters (a) created, suffered, assumed, or agreed to by the Insured Claimant; (b) not Known to the Company, not recorded in the Public Records at Date of Policy, but Known to the Insured Claimant and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an Insured under this policy; (c) resulting in no loss or damage to the Insured Claimant; (d) attaching or created subsequent to Date of Policy (however, this does not modify or limit the coverage provided under Covered Risk 9 and 10); or (e) resulting in loss or damage that would not have been sustained if the Insured Claimant had paid value for the Title. 4. Any claim, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws, that the transaction vesting the Title as shown in Schedule A, is (a) a fraudulent conveyance or fraudulent transfer; or (b) a preferential transfer for any reason not stated in Covered Risk 9 of this policy. 5. Any lien on the Title for real estate taxes or assessments imposed by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. CONDITIONS 1. DEFINITION OF TERMS consideration conveying the Title The following terms when used in this policy mean: (1) if the stock, shares, (a) "Amount of Insurance": The amount stated in memberships, or other equity interests of the grantee are Schedule A, as may be increased or decreased by wholly-owned by the named Insured, endorsement to this policy, increased by Section 8(b), or (2) if the grantee wholly owns the decreased by Sections 10 and 11 of these Conditions. named Insured, (b) "Date of Policy": The date designated as (3) if the grantee is wholly-owned "Date of Policy" in Schedule A. by an affiliated Entity of the named Insured, provided the (c) "Entity": A corporation, partnership, trust, affiliated Entity and the named Insured are both wholly- limited liability company, or other similar legal entity. owned by the same person or Entity, or (d) "Insured": The Insured named in Schedule (4) if the grantee is a trustee or A. beneficiary of a trust created by a written instrument (i) The term "Insured"also includes established by the Insured named in Schedule A for (A) successors to the Title of the estate planning purposes. Insured by operation of law as distinguished from (ii) With regard to (A), (B), (C), and (D) purchase, including heirs, devisees, survivors, personal reserving, however, all rights and defenses as to any representatives, or next of kin; successor that the Company would have had against any (B) successors to an Insured by predecessor Insured. dissolution, merger, consolidation, distribution, or (e) "Insured Claimant": An Insured claiming loss reorganization; or damage. (C) successors to an Insured by its (f) "Knowledge" or "Known": Actual knowledge, conversion to another kind of Entity; not constructive knowledge or notice that may be imputed (D) a grantee of an Insured under a to an Insured by reason of the Public Records or any deed delivered without payment of actual valuable other records that impart constructive notice of matters Form 81306 Dbl Cover—ALTA Owners Policy(06/17/06) Reorder 1190-127 NJRB 1-15 Effective: 2/15/07 Revised: 9/10/07 Copyright American Land Title Association.All rights reserved.The use of this Form is restricted to Al TA licensees and ALTA ..a�a members in good standing as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association — S • affecting the Title. 4. PROOF OF LOSS (g) "Land": The land described in Schedule A, In the event the Company is unable to determine the and affixed improvements that by law constitute real amount of loss or damage, the Company may, at its property. The term "Land" does not include any property option, require as a condition of payment that the Insured beyond the lines of the area described in Schedule A, nor Claimant furnish a signed proof of loss. The proof of loss any right, title, interest, estate, or easement in abutting must describe the defect, lien, encumbrance, or other streets, roads, avenues, alleys, lanes, ways, or matter insured against by this policy that constitutes the waterways, but this does not modify or limit the extent basis of loss or damage and shall state, to the extent that a right of access to and from the Land is insured by possible, the basis of calculating the amount of the loss this policy. or damage. (h) "Mortgage": Mortgage, deed of trust, trust deed, or other security instrument, including one 5. DEFENSE AND PROSECUTION OF ACTIONS evidenced by electronic means authorized by law. (a) Upon written request by the Insured, and (i) "Public Records": Records established under subject to the options contained in Section 7 of these state statutes at Date of Policy for the purpose of Conditions, the Company, at its own cost and without imparting constructive notice of matters relating to real unreasonable delay, shall provide for the defense of an property to purchasers for value and without Knowledge. Insured in litigation in which any third party asserts a With respect to Covered Risk 5(d), "Public Records" shall claim covered by this policy adverse to the Insured. This also include environmental protection liens filed in the obligation is limited to only those stated causes of action records of the clerk of the United States District Court for alleging matters insured against by this policy. The the district where the Land is located. Company shall have the right to select counsel of its (j) "Title": The estate or interest described in choice (subject to the right of the Insured to object for Schedule A. reasonable cause) to represent the Insured as to those (k) "Unmarketable Title": Title affected by an stated causes of action. It shall not be liable for and will alleged or apparent matter that would permit a not pay the fees of any other counsel. The Company will prospective purchaser or lessee of the Title or lender on not pay any fees, costs, or expenses incurred by the the Title to be released from the obligation to purchase, Insured in the defense of those causes of action that lease, or lend if there is a contractual condition requiring allege matters not insured against by this policy. the delivery of marketable title. (b) The Company shall have the right, in addition to the options contained in Section 7 of these Conditions, 2. CONTINUATION OF INSURANCE at its own cost, to institute and prosecute any action or The coverage of this policy shall continue in force as of proceeding or to do any other act that in its opinion may Date of Policy in favor of an Insured, but only so long as be necessary or desirable to establish the Title, as the Insured retains an estate or interest in the Land, or insured, or to prevent or reduce loss or damage to the holds an obligation secured by a purchase money Insured. The Company may take any appropriate action Mortgage given by a purchaser from the Insured, or only under the terms of this policy, whether or not it shall be so long as the Insured shall have liability by reason of liable to the Insured. The exercise of these rights shall warranties in any transfer or conveyance of the Title. not be an admission of liability or waiver of any provision This policy shall not continue in force in favor of any of this policy. If the Company exercises its rights under purchaser from the Insured of either (i) an estate or this subsection, it must do so diligently. interest in the Land, or (ii) an obligation secured by a (c) Whenever the Company brings an action or purchase money Mortgage given to the Insured. asserts a defense as required or permitted by this policy, the Company may pursue the litigation to a final 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED determination by a court of competent jurisdiction, and it CLAIMANT expressly reserves the right, in its sole discretion, to The Insured shall notify the Company promptly in writing appeal any adverse judgment or order. (i) in case of any litigation as set forth in Section 5(a) of these Conditions, (ii) in case Knowledge shall come to an 6. DUTY OF INSURED CLAIMANT TO COOPERATE Insured hereunder of any claim of title or interest that is (a) In all cases where this policy permits or adverse to the Title, as insured, and that might cause requires the Company to prosecute or provide for the loss or damage for which the Company may be liable by defense of any action or proceeding and any appeals,the virtue of this policy, or (iii) if the Title, as insured, is Insured shall secure to the Company the right to so rejected as Unmarketable Title. If the Company is prosecute or provide defense in the action or proceeding, prejudiced by the failure of the Insured Claimant to including the right to use, at its option, the name of the provide prompt notice, the Company's liability to the Insured for this purpose. Whenever requested by the Insured Claimant under the policy shall be reduced to the Company, the Insured, at the Company's expense, shall extent of the prejudice. give the Company all reasonable aid (i) in securing Form 81306 Dbl Cover—ALTA Owners Policy(06/17/06) Reorder 1190-127 NJRB 1-15 Effective: 2/15/07 Revised: 9/10107 Copyright American Land Title Association.All rights reserved.The use of this Form is restricted to ALFA licensees and ALTA members in good standing as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association S evidence, obtaining witnesses, prosecuting or defending liability or obligation to defend, prosecute, or continue any the action or proceeding, or effecting settlement, and (ii) itigation. in any other lawful act that in the opinion of the Company (b) To Pay or Otherwise Settle With Parties Other may be necessary or desirable to establish the Title or Than the Insured or With the Insured Claimant. any other matter as insured. If the Company is (i) To pay or otherwise settle with other prejudiced by the failure of the Insured to furnish the parties for or in the name of an Insured Claimant any required cooperation, the Company's obligations to the claim insured against under this policy. In addition, the Insured under the policy shall terminate, including any Company will pay any costs, attorneys' fees, and liability or obligation to defend, prosecute, or continue any expenses incurred by the Insured Claimant that were litigation, with regard to the matter or matters requiring authorized by the Company up to the time of payment such cooperation. and that the Company is obligated to pay; or (b) The Company may reasonably require the (ii)To pay or otherwise settle with the Insured Insured Claimant to submit to examination under oath by Claimant the loss or damage provided for under this any authorized representative of the Company and to policy, together with any costs, attorneys' fees, and produce for examination, inspection, and copying, at such expenses incurred by the Insured Claimant that were reasonable times and places as may be designated by authorized by the Company up to the time of payment the authorized representative of the Company, all and that the Company is obligated to pay. records, in whatever medium maintained, including Upon the exercise by the Company of either of the books, ledgers, checks, memoranda, correspondence, options provided for in subsections (b)(i) or (ii), the reports, e-mails, disks, tapes, and videos whether Company's obligations to the Insured under this policy for bearing a date before or after Date of Policy, that the claimed loss or damage, other than the payments reasonably pertain to the loss or damage. Further, if required to be made, shall terminate, including any requested by any authorized representative of the liability or obligation to defend, prosecute, or continue any Company, the Insured Claimant shall grant its litigation. permission, in writing, for any authorized representative of the Company to examine, inspect, and copy all of 8. DETERMINATION AND EXTENT OF LIABILITY these records in the custody or control of a third party that reasonably pertain to the loss or damage. All This policy is a contract of indemnity against actual information designated as confidential by the Insured monetary loss or damage sustained or incurred by the Claimant provided to the Company pursuant to this Insured Claimant who has suffered loss or damage by Section shall not be disclosed to others unless, in the reason of matters insured against by this policy. reasonable judgment of the Company, it is necessary in (a) The extent of liability of the Company for loss the administration of the claim. Failure of the Insured or damage under this policy shall not exceed the lesser of Claimant to submit for examination under oath, produce (i) the Amount of Insurance; or any reasonably requested information, or grant (ii)the difference between the value of the permission to secure reasonably necessary information Title as insured and the value of the Title subject to the from third parties as required in this subsection, unless risk insured against by this policy. prohibited by law or governmental regulation, shall (b) If the Company pursues its rights under terminate any liability of the Company under this policy as Section 5 of these Conditions and is unsuccessful in to that claim. establishing the Title, as insured, (i) the Amount of Insurance shall be increased 7. OPTIONS TO PAY OR OTHERWISE SETTLE by 10%, and CLAIMS; TERMINATION OF LIABILITY (ii)the Insured Claimant shall have the right to In case of a claim under this policy, the Company shall have the loss or damage determined either as of the date have the following additional options: the claim was made by the Insured Claimant or as of the (a) To Pay or Tender Payment of the Amount of date it is settled and paid. Insurance. (c) In addition to the extent of liability under (a) To pay or tender payment of the Amount of Insurance and (b),the Company will also pay those costs, attorneys' under this policy together with any costs, attorneys' fees, fees, and expenses incurred in accordance with Sections and expenses incurred by the Insured Claimant that were 5 and 7 of these Conditions. authorized by the Company up to the time of payment or tender of payment and that the Company is obligated to 9. LIMITATION OF LIABILITY pay. (a) If the Company establishes the Title, or Upon the exercise by the Company of this option, all removes the alleged defect, lien, or encumbrance, or liability and obligations of the Company to the Insured cures the lack of a right of access to or from the Land, or under this policy, other than to make the payment cures the claim of Unmarketable Title, all as insured, in a required in this subsection, shall terminate, including any reasonably diligent manner by any method, including Form 81306 Dbl Cover ALTA Owner's Policy(06/17/06) Reorder1190-127 NJRB 1-15 Effective: 2/15/07 Revised: 9/10/07 Copy right American Land Title Association.All rights reserved.The use of this Form is restricted to ALTA licensees and ALTA slams members in good standing as of the date of use.All other uses are prohibited.Reprinted under license from the American Land title Association S litigation and the completion of any appeals, it shall have includes the rights of the Insured to indemnities, fully performed its obligations with respect to that matter guaranties, other policies of insurance, or bonds, and shall not be liable for any loss or damage caused to notwithstanding any terms or conditions contained in the Insured. those instruments that address subrogation rights. (b) In the event of any litigation, including litigation by the Company or with the Company's consent, 14.ARBITRATION the Company shall have no liability for loss or damage Either the Company or the Insured may demand that the until there has been a final determination by a court of claim or controversy shall be submitted to arbitration competent jurisdiction, and disposition of all appeals, pursuant to the Title Insurance Arbitration Rules of the adverse to the Title, as insured. American Land Title Association ("Rules"). Except as (c) The Company shall not be liable for loss or provided in the Rules,there shall be no joinder damage to the Insured for liability voluntarily assumed by or consolidation with claims or controversies of other the Insured in settling any claim or suit without the prior persons. Arbitrable matters may include, but are not written consent of the Company. limited to, any controversy or claim between the Company and the Insured arising out of or relating to this 10. REDUCTION OF INSURANCE; REDUCTION OR policy, any service in connection with its issuance or the TERMINATION OF LIABILITY breach of a policy provision, or to any other controversy All payments under this policy, except payments made or claim arising out of the transaction giving rise to this for costs, attorneys'fees, and expenses, shall reduce the policy. All arbitrable matters when the Amount of Amount of Insurance by the amount of the payment. Insurance is $2,000,000 or less shall be arbitrated at the option of either the Company or the Insured. 11. LIABILITY NONCUMULATIVE All arbitrable matters when the Amount of Insurance is in The Amount of Insurance shall be reduced by any excess of $2,000,000 shall be arbitrated only when amount the Company pays under any policy insuring a agreed to by both the Company and the Insured. Mortgage to which exception is taken in Schedule B or to Arbitration pursuant to this policy and under the Rules which the Insured has agreed, assumed, or taken shall be binding upon the parties. Judgment upon the subject, or which is executed by an Insured after Date of award rendered by the Arbitrator(s) may be entered in Policy and which is a charge or lien on the Title, and the any court of competent jurisdiction. amount so paid shall be deemed a payment to the Insured under this policy. 15. LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE CONTRACT 12. PAYMENT OF LOSS (a) This policy together with all endorsements, if When liability and the extent of loss or damage have any, attached to it by the Company is the entire policy been definitely fixed in accordance with these Conditions, and contract between the Insured and the Company. In the payment shall be made within 30 days. interpreting any provision of this policy, this policy shall be construed as a whole. 13. RIGHTS OF RECOVERY UPON PAYMENT OR (b) Any claim of loss or damage that arises out of SETTLEMENT the status of the Title or by any action asserting such (a) Whenever the Company shall have settled claim shall be restricted to this policy. and paid a claim under this policy, it shall be subrogated (c) Any amendment of or endorsement to this and entitled to the rights of the Insured Claimant in the policy must be in writing and authenticated by an Title and all other rights and remedies in respect to the authorized person, or expressly incorporated by claim that the Insured Claimant has against any person Schedule A of this policy. or property, to the extent of the amount of any loss, costs, (d) Each endorsement to this policy issued at any attorneys' fees, and expenses paid by the Company. If time is made a part of this policy and is subject to all of its requested by the Company, the Insured Claimant shall terms and provisions. Except as the endorsement execute documents to evidence the transfer to the expressly states, it does not (i) modify any of the terms Company of these rights and remedies. The Insured and provisions of the policy, (ii) modify any prior Claimant shall permit the Company to sue, compromise, endorsement, (iii) extend the Date of Policy or (iv) or settle in the name of the Insured Claimant and to use increase the Amount of Insurance. the name of the Insured Claimant in any transaction or litigation involving these rights and remedies. 16. SEVERABILITY If a payment on account of a claim does not fully cover In the event any provision of this policy, in whole or in the loss of the Insured Claimant, the Company shall defer part, is held invalid or unenforceable under applicable the exercise of its right to recover until after the Insured law, the policy shall be deemed not to include that Claimant shall have recovered its loss. provision or such part held to be invalid, but all other (b) The Company's right of subrogation provisions shall remain in full force and effect. Form 81306 Dbl Cover—ALTA Owners Policy(06/17/06) Reorder 1190-127 NJRB 1-15 Effective: 2/15/07 Revised: 9/10/07 Copyright American Land Title Association.All rights reserved.The use of this Form is restricted to ALFA licensees and ALFA Jan members in good standing as of the date of use All other uses are prohibited.Reprinted under license from the American Land Title Association S 17. CHOICE OF LAW; FORUM 18. NOTICES,WHERE SENT (a) Choice of Law: The Insured acknowledges Any notice of claim and any other notice or statement in the Company has underwritten the risks covered by this writing required to be given to the Company under this policy and determined the premium charged therefor in Policy must be given to the Company at: P.O. Box reliance upon the law affecting interests in real property 45023, Jacksonville, FL 32232-5023. and applicable to the interpretation, rights, remedies, or enforcement of policies of title insurance of the jurisdiction where the Land is located. Therefore, the court or an arbitrator shall apply the law of the jurisdiction where the Land is located to determine the validity of claims against the Title that are adverse to the Insured and to interpret and enforce the terms of this policy. In neither case shall the court or arbitrator apply its conflicts of law principles to determine the applicable law. (b) Choice of Forum: Any litigation or other proceeding brought by the Insured against the Company must be filed only in a state or federal court within the United States of America or its territories having appropriate jurisdiction. • Form 81306 Dbl Cover-ALTA Owner's Policy(06117/06) Reorder 1190-127 NJRB 1-15 Effective: 2/15/07 Revised: 9/10/07 Copyright American Land Title Association.All rights reserved.The use of this Form is restricted to ALTA licensees and ALTA members in Rood standing as of the date of use.All other uses are prohibited.Reprinted under license from the American Land Title Association Iii i�.i,<'�'' �� 4i ilil iiii CAMBRIDGE TITLE COMPANY Cook oe�e5250050 Fee:$qp pp Eu c#. 400 Central Avenue Cook Moore gHgp Fee:$70,00 Northfield, IL 60093 Date:08/07/2011 Cp 62 P Deetls M P9: 1of3 MAIL TO: Teresa Hoffman Liston 6101 Capulina Ave. Morton Grove, IL 60053 [The Above Space For Recorder's Use Only] TRUSTEE'S DEED (ILLINOIS) THIS INDENTURE, made this o7J TIC day of May 2011, between, LAVERNE CHARLES, VIRGINI4- TORTORICE and JEAN NOVAK, as Successor Co-Trustees under the THE 8533 CALLIE AVENUE LAND TRUST dated the 17TH DAY OF JULY, 2010, grantor, and VILLAGE OF MORTON GROVE, a municipal corporation 6101 CAPULINA AVE, MORTON GROVE, IL 60053 , grantee, WITNESSETH, That grantor, in consideration of the sum of Ten and 00/100 ($10.00) Dollars, receipt whereof is hereby acknowledged, and in pursuance of the power and authority vested in the grantor as said trustee and of every other power and authority the grantor hereunto enabling, does hereby convey and quitclaim unto the grantee, in fee simple, the following described real estate, situated in the County of COOK in the State of Illinois, to wit: SEE LEGAL DESCRIPTION ATTACHED HERETO. together with the tenements, hereditaments and appurtenances thereunto belonging or in any wise appertaining. Permanent Real Estate Index Number(s): 10-20-113-015-0000 Address(es) of Real Estate: 8533 CALLIE AVE, MORTON GROVE, IL 60053 Dated this J day of May, 2011 LAVERNE CHARLES, as co-trustee aforesaid VIRGINI,ORTORICE, as co-trustee aforesaid EXEMPT-PURSUANT TO SECTION 1-11-5 VILLAGE OF MORTON GROVE REAL ESTATE TRANSFE STAMP EXEMPTION NO 07434 DATES/ 5 � ADDRESS / 75533/�y/ea.//,,e, J NOVAK, as co-trustee aforesaid Y,(f7302t� tner�i rAwa Deco, ev �,.p 1115250050 Page: 2 of 3 State of Illinois, County of C=a=as. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that JEAN NOVAK personally known to me to be the same persons whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. Given under my hand and official seal, this -2.7µ day of May, 2011 (L).e3/4-7 k-- Notary Public MA My Commission Expires 01- Or .3p t1 SLATATICSWO, alanillettlai This instrument was prepared by Bernard J. Michna, 400 Central Ave, Suite 230, Northfield, IL 60093 Send Subsequent Tax Bills to: VILLAGE OF MORTON GROVE, a municipal corporation, 6101 Capulina Avenue, Morton Grove, IL 60053 LEGAL DESCRIPTION LOT FORTY TWO (42) IN BLOCK FOUR (4) IN BINGHAM AND FERNALD'S MORTON GROVE SUBDIVISION BEING LOT FORTY (40) IN THE COUNTY CLERKS DIVISION OF SECTION TWENTY (20) AND THE EAST HALF OF THE NORTH EAST QUARTER OF SECTION NINETEEN (19), TOWNSHIP FORTY ONE (41) NORTH, RANGE THIRTEEN (13), EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT A TRACT TWO HUNDRED (200) FEET NORTH AND SOUTH BY ONE HUNDRED EIGHTEEN AND NINE TENTHS (118.9) FEET EAST AND WEST AT THE SOUTH WEST CORNER OF SAID LOT FORTY(40). Subject only to the following, if any: general real estate taxes not due and payable at the time of Closing, covenants, conditions and restrictions of record, building lines and easements, if any, so long as they do not interfere with the current use and enjoyment of the real estate. 1115250050 Page: 3 of 3 State of Colorado, County of DELTA ss. 1, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that LAVERNE CHARLES personally known to me to be the same persons whose name is subscribed to the foregoing appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and 9 waiver of the right of homestead. Given under my hand and official seal, this 11TI+ day of May, 2011 Notary Public KIMBERLY A. WRIGHT My Commission Expires (p NOTARY PUBLIC 2012 111. STATE OF COLORADO State of Illinois, County of Cook ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that VIRGINIA TORTORICE personally known to me to be the same persons whose name is subscribed to the foregoing appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. •Given under my hand and official seal, this asTh day of May, 2011 Notary Public My Commission Expires Dl — G$ �► OFFIOAL SEA, SUSAN LAVINA --� SAM' ns°STALE S U09158 ONA6H3 aa, __, e I CO$ }\ 1 \ ;r I on i . 1 d / \ \ 5 5 \ - z i ? \ @ / % , ( • »! | N§ __ . � Hi 2 � g s \ § 01 M Hi I! /� . 0 ` % n in NI` . / `� H \ 1 $ o ! \ \ t } } 0 0\ , -- ! or ^ \ } j cv 0 t / � p>\ % - . » � \ \ / V. r � \ \ / } \ \ ( 5 •i % « \ : = ® - » Cr\ � © } N 0 \ \ ± \ \ _ \ r ( o S $ W � _ E _ ( yy / 0bj§, N �• § / • § 0 z > m ( cr - ` � o 41' \ } ( \ - Li ~ I 0 CC = _ CO m Na' _ § 200 § \. ... ._\ :�� .—. MEMORANDUM TO: Village President and Board of Trustees Joseph F. Wade, Village Administrator FROM: Terry Hoffman Liston, Corporation Counsel CC: Ryan Home, Assistant Finance Director DATE: May 26, 2011 RE: Purchase of 8533 Callie Avenue, Morton Grove, Illinois On May 25, 2011, the Village closed on its contract to purchase 8533 Callie Avenue from a land trust owed by the Karlesky family. The purchase price for this property was $135,000.00. The Village also incurred the following additional charges: • Closing fee $ 375.00 • Closing Protection Letter $ 25.00 • Cost to record deed and mortgage fee $ 50.00 • Later Date commitment $ 100.00 • Wire transfer $ 25.00 • Total Costs including purchase price $ 135,575.00 At the closing, the Village received the following credits in the form of a reduction against the purchase price: • Real estate tax pro rations for 2010' $ 716.77 • Real estate tax pro rations for 2011' $ 449.60 • Total Credits $ 30,692.31 Therefore, the total funds owed by the Village at closing were (Purchase price - $135,000.00 plus additional charges— $575.00 less credits $1,166.37) $ 134,408.63 ' The parties also entered into a reproration agreement whereby which stated at the closing the seller would give the buyer a credit of 150%of the 2009 taxes for the 2010 second installment and shall pro rate the 2011 taxes at 150% of the 2009 tax bill through the date of closing. Upon the receipt of the final 2010 and 2011 tax bills,the tax obligations shall be reprorated to the exact amount. If the credit amount given to the buyers at closing is insufficient,the seller shall send a check to buyer in the amount of the deficiency. If the proration to the buyer is excessive,the Village shall send a check in the amount of any overage to the sellers. The legal work for this closing was performed by me as part of my normal duties; therefore, no additional legal fees were incurred. On May 24, 2011, the Village wire transferred $137,000.00 to the closing agent, Cambridge Title Company. At the closing, the village received a check for the overpayment in the amount of $2,591.37. This check was given to the Village Treasurer. Keys for the property have been given to John Said, Community and Economic Development Director. The following issues remain open: 1. When the second installment of the 2010 real estate taxes and the first installment of the 2011 real estate taxes become due for this property, it is the Village's responsibility to pay these taxes because a credit for these taxes has already been provided. 2. The Village should apply for a property tax exemption for this property as soon as possible. 3. When the second installment of the 2011 tax bills become available, the Village should contact the sellers through their attorney Bernard Michna, 400 Central Avenue, Suite 230, Northfield, IL 60093 (847-446-3000)regarding the reproration of these taxes. Copies of the survey, title commitment, deed, and other closing documents were delivered to the Finance Department for placement in the permanent file. Should you have any questions, do not hesitate to contact me. /mk M:Vegal\Real Estate\8533 Calhe purchase memo 05-11.doc Ab A. Settlement Statement U.S.Department of Housing i r and Urban Development OMB Approval No.2502-0265 B.type of Loan 1.0 FHA 2.0 RHS 3.D Conv.Unins. 6.File Number 7.Loan Number 8.Mortgage Insurance Case Number 4.0 VA 5.E Cony Ins. 11879CL C.Note:This form is furnished to give you a statement of actual settlement costs.Amounts paid to and by the settlement agent are shown.Items marked"(p.o.e.)"were paid outside the closing;they are shown here for information purposes and are not included in the totals. D. Name and Address of Borrower ' E.Name and Address of Seller F.Name and Address of Lender VILLAGE OF MORTON GROVE 8533 CALLIE AVENUE LAND TRUST DATED 6101 CAPULINA AVE 7-1-2010 MORTON GROVE,IL 60053 8533 CALLIE AVE MORTON GROVE,IL 60053 G.Properly Location H.Settlement Agent 8533 CALLIE AVE CAMBRIDGE TITLE COMPANY MORTON GROVE,IL 60053 i Place of Settlement I.Settlement Date 400 CENTRAL AVENUE,SUITE 210 05/25/11 NORTHFIELD,IL 60093 DD: 05/25/11 J.SUMMARY OF BORROWER'S TRANSACTION: K.SUMMARY OF SELLER'S TRANSACTION: 100.GROSS AMOUNT DUE FROM BORROWER 400.GROSS AMOUNT DUE TO SELLER 101.Contract sales price _ _ 135,000.00 401.Contract sales price I 135,00.0.00 102.Personal .ro.e I _ 402.Personal property 103.Settlement charges to borrower(line 1400) 575.00 403. I 104. 1 404. 105. �405. Adjustments for items paid by seller in advance Adjustments for items paid by seller In advance 106.City/town taxes _ to 406.City/town taxes to 107.County taxes to 407.County taxes to _ 108.Assessments to 408.Assessments _ _ to 109. _ 1 409. 110. - 410. 111. - 411. 112. - 412. ' 120.GROSS AMOUNT DUE FROM BORROWER i 135,575.00 420.GROSS AMOUNT DUE TO SELLER 135,000.00 200.AMOUNTS PAID BY OR IN BEHALF OF BORROWER ,500.REDUCTIONS IN AMOUNT TO SELLER 201.Deposit or earnest money 501.Excess Deposit(see instructions) 202.Principal amount of new loan(s) 502.Settlement charges to seller(line 1400) _ _ 5,656.00 203.Existing loan(s)taken subject to 503.Existing loans taken subject to _ 204. 504.Payoff of first mortgage loan 205. 505.Payoff of second mortgage loan ! _ 1 . 206. 506. 207. 507. 208. _- _ 508. 209. 509. Adjustments for items unpaid by seller Adjustments for Items unpaid by seller 210.Cityttown taxes to 510.City/town taxes to 211.County taxes 01/01 to 05/25 449.60 511.County taxes 01/01 to 05/25 _ 449.60 212.Assessments to 512.Assessments to 213. 513. 214.2010 2ND INST RE TAXES 1 716.77 514.2010 2ND INST RE TAXES 716.77 215. 515. 216. 516. 217. 517. _ __ ! 218. 516. 219. 519. I 220.TOTAL PAID BY 1 FOR BORROWER I 1,166.37 520.TOTAL REDUCTION AMOUNT DUE SELLER 6,822.37 300.CASH AT SETTLEMENT FROM OR TO BORROWER 600.CASH AT SETTLEMENT TO OR FROM SELLER 301.Gross amount due from borrower(line 120) I 135,575.00 601.Gross amount due to seller(line 420) 135,000.00 302.Less amounts paid by/for borrower(line 220) 1,166.37 602.Less reduction amount due to seller(line 520) 6,822.37. 303.CASH FROM BORROWER _ 134,408.631 603.CASH TO SELLER 128,177.63 form HUD-1 (3/86)ref Handbook 4305.2 U.S.DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SETTLEMENT STATEMENT PAGE 2 L.SETTLEMENT CHARGES: File Number: 11879CL PAID FROM PAID FROM -700. TOTAL SALES/BROKER'S COMMISSION based on price$ 135,000.00 @ 2.50= 3,375.00 BORROWER'S SELLER'S FUNDS AT FUNDS AT Division of commission(line 700)as follows: SETTLEMENT SETTLEMENT 701. $ 3,375.00 to RE/MAX MASTERS 702. $ to I 703. Comm ission paid at Settlement Realtor Holds Deposit 3375.00 704. - 800. ITEMS PAYABLE IN CONNECTION WITH LOAN __ P.O.C. _801. Loan Origination Fee % _ _ _ 802. Loan Discount % 803. Appraisal Fee _ to _804. Credit Report to _ 805. INSURANCE REVIEW to __ 806. PROPERTY CONDITION REPORT to __ 807. PHASE I REPORT to 808. - - - 809. 810. PROCESSING FEE 811. I 812._ _ - 1 811 814. ! _.. - _ i 815. 1 900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE 901. Interest from to _ @r$ /day 902. Mortgage Insurance Premium to _ __ 903. Hazard Insurance Premium _ yrs.to 904. 905. 1000. RESERVES DEPOSITED WITH LENDER FOR 1001. Hazard Insurance mo.(off$ /ma_ 1002. Mortgage Insurance ma(a_$ /mo. 1003. City property taxes mo.(d$ - I ma 1004. County property taxes 0 mo.@;$ _/mo. 1005. Annual Assessments mo.(a)$ /mo. 1006. mo.(@$ /mo. 1007. mo.@$ - /mo. _ -; 1008. Aggregate Reserve for Hazard/Flood Ins,City/Count 1100. TITLE CHARGES _ 1101. Settlement or closing fee to CAMBRIDGE TITLE COMPANY _ 375.00 375.00 1102. Abstract or title search to _ 1103. Title examination to _ 1104. Title insurance binder to 1105. Document preparation to 1106. Notary fees to CAMBRIDGE TITLE COMPANY 25.00 1107. Attorneys fees to BERNARD J.MICHNA 250.00 (includes above item No: ) 1108. Title insurance to CAMBRIDGE TITLE COMPANY _ 1,010.00 (includes above item No: ) - 1109. Lender's coverage 1110. Owner's coverage 135,000.00-1,010.00_ 1111. EPA ENDORSEMENT 1112. IL DFI POLICY FEE CAMBRIDGE TITLE COMPANY 3.00 1113. CPL FEE CAMBRIDGE TITLE COMPANY 25.00 50.00 1200. GOVERNMENT RECORDING AND TRANSFER CHARGES 1201. Recording fees Deed$ 50.00 ;Mortgage$ ;Releases$ 50.00 1202. City/county/stamps Deed$ 0.00 ;Mortgage$ _ {I 1203. State tax/stamps Deed$ 0.00 ;Mortgage$ 1204. VILLAGE OF MORTON GROVE EXEMPTION - 25.00 1205. - ' 1300. ADDITIONAL SETTLEMENT CHARGES _ 1301. Surve to NORTH SHORE SURVEY - - I. I 450.00 I 1302. Pest ins.-ction to _ 1303. 1304. LATER DATE/COMMITMENT UPDATB:AMBRIDGE TITLE COMPANY 100.00 1305. OVERNIGHT MAIL FEE CAMBRIDGE TITLE COMPANY 30.00 1306. EMAIL/WIRE PROCESSING FEE CAMBRIDGE TITLE COMPANY 25.00 1307. FINAL WATER BILL VILLAGE OF MORTON GROVE 63.00 r - 1308. 1400. TOTAL SETTLEMENT CHARGES (enter on lines 103 and 502,Sections J and K) 575.00 5,656.00 form HUD-1 (3/86)ref Handbook 4305.2 ACKNOWLEDGMENT OF RECEIPT OF SETTLEMENT STATEMENT • BORROWER(S): VILLAGE OF MORTON GROVE SELLER(S): JEAN NOVAK, LAVERNE CHARLES and VIRGINIA TORTORICE PROPERTY: 8533 CALLIE AVE, MORTON GROVE, IL 60053 DATE OF SETTLEMENT: 05/25/11 SETTLEMENT AGENT: CAMBRIDGE TITLE COMPANY PLACE OF SETTLEMENT: 400 CENTRAL AVENUE, SUITE 210, NORTHFIELD, IL 60093 FILE NO.: 11879CL I have carefully reviewed the HUD-1 Settlement Statement and to the best of my knowledge and belief, it is a true and accurate statement of all receipt-mod dis.lurse -n rrbede on my account or by me in this transaction. I further certify that I have received a copy of the HUD-1 Sew-mt.- . eme y` %. ‘N °. A �I194 GE OF MORTON G'i� J N AK • a- Xeladto LAV E CHARLES e„.0 )ova K- ATTORNEY-IN-FACT - _-iG__at DIR 1 •'TORI To the best of my knowledge,the HUD-1 Settlement Statement which I have prepared is a true and accurate account of this transaction. I have caused or will cau - the fund to be disbursed in accordance with this statement. / _ • Date CAMBRIDGE 1- 'O " s - WARNING:It is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties upon convidicn can include a fine or imprisonment.For details see: Title 18 U.S Code Section 1001 and Section 1010. File# 11879CL TAX REPRORATION AGREEMENT By and Between 8533 Callie Avenue Land Trust dated 7-17-10, Seller, and Village of Morton Grove, Buyer For Property Commonly known as 8533 Callie Avenue, Morton Grove, IL 60053 At closing, the Seller shall give Buyer credit of 150% of the 2009 taxes for the payment of the 2010 second installment and the 2011 taxes through the date of closing. Upon receipt of the final 2010 tax bill, the 2010 taxes shall be reprorated to the exact amount. Upon the receipt of the 2011 tax bill, the 2011 taxes shall be reprorated to the exact amount. If the credit amount given to Buyer at closing is insufficient, Seller shall send a check in the amount of the deficiency to Buyer's attorney. If the proration to Buyer is excessive, Buyer shall send a check in the amount of the overage to the Seller's attorney, to be forwarded immediately to Seller. Any fees, costs, and expenses, including but not limited to attorneys fees that are incurred by either party in enforcing this agreement shall be recoverable against the other party. Date: May 25, 2011 BUYER: SELLER: VILLAGE OF MORTON GROVE 8533 Callie Avenue Land Trust dated 7-17-10 ' ✓,•. an Novak, Successor Co-Trustee BY: ∎C:7 4.,(C 9f" 1 Laverne Chaps, Successor Co-Trustee '.,:r— eCter ,V 0 VA ATTORNEY-IN-FACT Byt re cf / —r' I Vrtorice, Successor Co-Trustee MAIL TO: Teresa Hoffman Liston 6101 Capulina Ave. Morton Grove, IL 60053 [The Above Space For Recorder's Use Only] TRUSTEE'S DEED (ILLINOIS) THIS INDENTURE, made this acT day of May, 2011, between, LAVERNE CHARLES, VIRGIN* TORTORICE and JEAN NOVAK, as Successor Co-Trustees under the THE 8533 CALLIE AVENUE LAND TRUST dated the 17TH DAY OF JULY, 2010, grantor, and VILLAGE OF MORTON GROVE, a municipal corporation 6101 CAPULINA AVE, MORTON GROVE, IL 60053 , grantee, WITNESSETH, That grantor, in consideration of the sum of Ten and 00/100 ($10.00) Dollars, receipt whereof is hereby acknowledged, and in pursuance of the power and authority vested in the grantor as said trustee and of every other power and authority the grantor hereunto enabling, does hereby convey and quitclaim unto the grantee, in fee simple, the following described real estate, situated in the County of COOK in the State of Illinois, to wit: SEE LEGAL DESCRIPTION ATTACHED HERETO. together with the tenements, hereditaments and appurtenances thereunto belonging or in any wise appertaining. Permanent Real Estate Index Number(s): 10-20-113-015-0000 Address(es) of Real Estate: 8533 CALLIE AVE, MORTON GROVE, IL 60053 Dated this day of May, 2011 a 5^rPr 7/4;_4(4- �. i/.�i1,r. LAVERNE CHARLES, as co-trustee aforesaid VIRGIN!,TORTORICE, as co-trustee aforesaid 9J NOVAK, as co-trustee aforesaid State of Colorado, County of bC-1-TA ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that LAVERNE CHARLES personally known to me to be the same persons whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. Given under my hand and official seal, this Ili day of May, 2011 Wti h. KIMBERLY A. WRIGHT Notary Public NOTARY PUBLIC My Commission Expires 101 S 1 2012. 1 STATE OF COLORADO State of Illinois, County of Cook ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that VIRGINIA TORTORICE personally known to me to be the same persons whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. Given under my my hand and official seal, this c day of May, 2011 Notary Public AL SEAL My Commission Expires 01 — GS I d, SU8 N LAVINA NOTARY PUBLIC-STATE OF NJ.MOIS MY COMMISSION EXPIRES:Oli915 • State of Illinois, County of C (�IVL- ss. I, the undersigned, a Notary Public in and for said County, in the State aforesaid, DO HEREBY CERTIFY that JEAN NOVAK personally known to me to be the same persons whose name is subscribed to the foregoing instrument, appeared before me this day in person, and acknowledged that she signed, sealed and delivered the said instrument as her free and voluntary act, for the uses and purposes therein set forth, including the release and waiver of the right of homestead. Given under my� hand and official seal, this °2S µ day of May, 2011 1/ Notary Public OFFICIAL VPIA My Commission Expires CI— Of 1$.D I k. UNCCSIM'1ONte STATE lnett8 001�lMGNi1�R�U06ry This instrument was prepared by Bernard J. Michna, 400 Central Ave, Suite 230, Northfield, IL 60093 Send Subsequent Tax Bills to: VILLAGE OF MORTON GROVE, a municipal corporation, 6101 Capulina Avenue, Morton Grove, IL 60053 LEGAL DESCRIPTION LOT FORTY TWO (42) IN BLOCK FOUR (4) IN BINGHAM AND FERNALD'S MORTON GROVE SUBDIVISION BEING LOT FORTY (40) IN THE COUNTY CLERK'S DIVISION OF SECTION TWENTY (20) AND THE EAST HALF OF THE NORTH EAST QUARTER OF SECTION NINETEEN (19), TOWNSHIP FORTY ONE (41) NORTH, RANGE THIRTEEN (13), EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT A TRACT TWO HUNDRED (200) FEET NORTH AND SOUTH BY ONE HUNDRED EIGHTEEN AND NINE TENTHS (118.9) FEET EAST AND WEST AT THE SOUTH WEST CORNER OF SAID LOT FORTY (40). Subject only to the following, if any: general real estate taxes not due and payable at the time of Closing, covenants, conditions and restrictions of record, building lines and easements, if any, so long as they do not interfere with the current use and enjoyment of the real estate. BILL OF SALE STATE OF ILLINOIS SS. COUNTY OF COOK Seller, LAVERNE CHARLES, VIRGINIA TORTORICE and JEAN NOVAK, as Successor Co-Trustees of the 8533 Callie Avenue Land Trust dated July 17, 2010, in consideration of Ten Dollars ($10.00), receipt of which is hereby acknowledged, does hereby sell, assign, transfer and set over to Buyer, VILLAGE OF MORTON GROVE, a municipal corporation, the following described personal property located at 8533 CALLIE AVE, MORTON GROVE, IL 60053, on the premises on May 9, 2011, if any: Per contract. Seller hereby represents and warrants to Buyer that Seller is the absolute owner of said property, that said property is free and clear of all liens, charges and encumbrances, and the Seller has full right, power and authority to sell said personal property and to make this bill of sale. All warranties of quality, fitness, and merchantability are hereby excluded. If this bill of sale is signed by more than one person, all persons so signing shall be jointly and severally bound hereby. IN WITNESS WHEREOF, Seller has signed and sealed this bill of sale at Northfield, IL as of this 25th day of May, 2011. Cdt-PiAtuz-- if dielito LAVERNE CHARLES, as SuccesSQ� U t e 8y.' Sea. .Nova HII -INACT V IRGI ;]C' TO-TORIC , as Successor Co-Trustee JE NOVAK, as Successor Co-Trustee Subscribed and sworn to before me as of this 25th day of May, 2011. OFFICIAL SEAL . SUSAN SAMNA NOTARY RlBLIC•STATE OF LIMOS Notary Public PAY CCIWAISSIOP4 WIRES:OM/1S AFFIDAVIT OF TITLE STATE OF ILLINOIS ) SS. COUNTY OF COOK ) THE UNDERSIGNED AFFIANT, BEING FIRST DULY SWORN, ON OATH SAYS, AND ALSO COVENANTS WITH AND WARRANTS TO THE GRANTEE HEREINAFTER NAMED: That affiant has an interest in the premises described below or in the proceeds thereof or is the grantor in the deed dated May 25th, 2011 to VILLAGE OF MORTON GROVE, conveying the following described premises: See attached legal description. That no labor or material has been furnished for premises within the last four months, that is not fully paid for. That since the title date of APRIL 26, 2011, in the report issued by Cambridge Title Company, affiant has not done or suffered to be done anything that could in any way affect the title to premises, and no proceedings have been filed by or against affiant, nor has any judgment or decree been rendered against affiant, nor is there any judgment note or other instrument that can result in a judgment or decree against affiant within five days from the date hereof. That affiant is in undisputed and peaceful possession of the premises and no other parties have any rights or claims to possession of the premises, except as hereinafter set forth: None. That all water taxes, except the current bill, have been paid, and that all the insurance policies assigned have been paid for; that no general real estate taxes are now unpaid and delinquent. That this instrument is made to induce, and in consideration of, the said grantee's consummation of the purchase of premises and further to induce Cambridge Title Company to issue its title insurance policy covering the premises. That the covenants and warranties herein set forth are continuing covenants and warranties to and including the date of delivery of the deed to the above-identified grantee and shall have the same force and effect as if made on the date of such delivery of deed. Affiant further states: Naught. I at Pl alto 7?jail° LAV NE CHARLES, as Suss stee Sea J Dada K RII UfttT-IN-FACT a' /G � VIRGI a 4 TO TORICE, as Successor Co-Trustee In JE NOVAK, as Successor Co-Trustee Subscribed and sworn to before me this 25th day of May 2011. /I/!vi A OFFICIAL SEAL SUSAN LAMA NotaryPublic NOTARY RJWC•STATE OF ILLINOIS MY COMMISSION EIlMIEEITOSI5 LEGAL DESCRIPTION LOT FORTY TWO (42) IN BLOCK FOUR (4) IN BINGHAM AND FERNALD'S MORTON GROVE SUBDIVISION BEING LOT FORTY (40) IN THE COUNTY CLERKS DIVISION OF SECTION TWENTY (20) AND THE EAST HALF OF THE NORTH EAST QUARTER OF SECTION NINETEEN (19), TOWNSHIP FORTY ONE (41) NORTH, RANGE THIRTEEN (13), EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT A TRACT TWO HUNDRED (200) FEET NORTH AND SOUTH BY ONE HUNDRED EIGHTEEN AND NINE TENTHS (118.9) FEET EAST AND WEST AT THE SOUTH WEST CORNER OF SAID LOT FORTY (40). Legislative Summary Resolution 11-23 • AUTHORIZING THE VILLAGE OF MORTON GROVE TO ACQUIRE PROPERTY COMMONLY KNOWN AS 8533 CALLIE AVENUE, MORTON GROVE, ILLINOIS Introduced: May 9. 2011 Objective: To authorize the purchase of property commonly known as 8533 Cal lie Avenue which is adjacent to the Lehigh/Ferris i IF District. Purpose: This property will be land banked and used for a future public purpose. Background: The Village has acquired numerous pieces of property for possible future development from time-to-time. The property located at 8533 Callie Avenue, immediately north of Fire Station No. 4,recently became available for purchase. As requested by the Village Board, Village staff has negotiated a contract with the owner for Village Board approval. The terms of the contract include: 1. The Purchase Price$135,000; 2. Closing on or before May 31, 2011. Funds for the purchase and acquisition of this property are contained in the 2011 Budget. Programs, Departments Finance Department, Village Administrator, Legal Depaz tment, Community and or Groups Affected: Economic Development Fiscal Impact: 5135,000 Source of Funds: Funds have been budgeted for in the 2011 Budget. Workload Impact: Corporation Counsel will handle the closing of this transaction as part of her normal workload. Administrator Approval as presented. Recommendation: Second Reading: Not Required Special Considerations or None Requirements: Administrator Approval r C', Vaek JOeph F. lade, Village Administrator Prepared by: • Teresa Hoffman Inston, Corporation Counsel RESOLUTION 11-23 AUTHORIZING THE VILLAGE OF MORTON GROVE TO ACQUIRE PROPERTY COMMONLY IGVOWN AS 8533 CALLIE AVENUE, MORTON GROVE, ILLINOIS WHEREAS. the Village of Morton Grove (VILLAGE), located in Cook County, Illinois, is a home rule unit of government under the provisions of Article 7 of the 1970 Constitution of the State of Illinois, can exercise any power and perform any function pertaining to its government affairs, including but not limited to the power to tax and incur debt; and WHEREAS, the property commonly known as 8533 Callie Avenue, Morton Grove, Illinois 60053 is adjacent to the Lehigh/Ferris TIF Redevelopment District; and WHEREAS; to date, as part of the Lehigh/Ferris Redevelopment Plan, the Village has acquired and land banked certain properties to further the goals of the Redevelopment Plan; and WHEREAS. it is in the best interest of the Village of Morton Grove to acquire the property commonly known as 8533 Caliie Avenue, Morton Grove, Illinois 60053 to be used as stated above; and WHEREAS, the Village, in its 2011 budget. appropriated sufficient funds for the purchase and acquisition of certain properties; and WHEREAS.the cost to acquire this property shall be paid from the Village's Lehigh/Ferris TIF Fund; and WI '.REAS. Village staff and the owner of the property have negotiated a contract for the purchase of the property subject to the approval of the Village Board of Trustees; and WHEREAS, the terms of the contract include: 1. The Purchase Price $135,000; 2. Closing on or before May 31, 2011. NOW, THEREFORE BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MORTON GROVE, COOK COUNTY, ILLINOIS AS FOLLOWS: SECTION 1: The Corporate Authorities do hereby incorporate the foregoing WHEREAS clauses into this Resolution as though fully set forth herein thereby making the findings as hereinabove set forth. SECTION 2: The Village President and Village Clerk of the Village of Morton Grove are hereby authorized to execute a contract between the Village and the owner of record for the purchase of property commonly known as 8533 Callie Avenue, Morton Grove, Illinois for the sum of 5135.000 with a closing to occur on or about May 31. 2011, with additional terms and conditions in substantial conformity with Exhibit"A". SECTION 3: The Village Administrator, Corporation Counsel and/or their designees are hereby authorized to prepare, execute, and deliver any documents or take any steps necessary to purchase said property pursuant to the contract. SECTION 4: This Resolution is an exercise of the home rule authority of the Village of Morton Grove and is intended to and, to the fullest extent allowed by the constitution of the State of Illinois, shall be construed as to supersede any contrary or conflicting state, county, or local rule or regulation. SECTION 5: This Resolution shall be in full force and effect from and after its passage, approval and publication according to law. PASSED this 9`" day ofMa_v 2011. pp Trustee DiMaria L Trustee Gomberg ve Trustee Grear !1 Trustee Marcus ` p/ Trustee Thill 4 Yi Trustee Toth _ APPROVED by me this 9th day of May 2011. /7/ llantei. . •.y ann, Village President Village o L Morton Grove Cook County, Illinois APPROVED and FILED i• r y office . 's 10`h day of May 2011. it • Tony S. Kato•giros, Village Clerk Village of Morton Grove Cook County. Illinois CONTRACT FOR THE PURCHASE OF 8533 CALLIE AVENUE, MORTON GROVE, ILLINOIS BETWEEN THE VILLAGE OF MORTON GROVE AND MS. M. KARLESKY The VILLAGE OF MORTON GROVE, a municipal corporation and a home rule unit of government located in Cook County, Illinois ("Village") hereby agrees to purchase and Jean Novak, Trustee, owner of record ("Seller"), hereby agrees to sell that property commonly known as 8533 Callie Avenue, Morton Grove, Illinois and legally described in Exhibit "A" and all improvements thereon ("the real estate") pursuant to the following terms and conditions: 1) PURCHASE PRICE: The Village shall pay Seller the sum of one hundred thirty-five thousand dollars ($135,000)to be paid as follows: A. Within two (2) business days of the execution and delivery of this Contract, the Village shall deposit with the Seller or its designated agent the sum of one thousand dollars ($1,000.00) as and for"Earnest Money". The eamest money shall be held pursuant to the terms and conditions of this Contract. B. Payment at Closing. The balance of the Purchase Price, as adjusted by agreed or customary credits and prorations including tax prorations, security deposits, and unpaid utilities shall be paid in good funds at Closing. 2) CLOSING: The Closing shall take place on or before May 23, 2011, at a location mutually agreed upon by the Village and the Seller. However, no closing proceeds shall be tendered to the Seller and no deeds shall be recorded until all tenants have vacated the premises. 3) CONTINGENCY PERIOD AND INSPECTIONS. A. The Seller shall make available to Village for Village's inspection, copies of any leases, security contracts, rent rolls, surveys, environmental reports, soils tests, maps and plats for the subject property no later than May 12, 2011. B. The Village and its agents may at any time through May 6, 2011 (the "Contingency Period")conduct, at Village's sole cost and expense and subject to the terms hereof, its "Inspection" of the Subject Property which may include without limitation physical inspections of the Subject Property, surveys, soils tests, site analyses, engineering studies, examinations of the building and improvements thereon (including structural and mechanical tests)environmental studies and investigations and appraisals. C. The Village may terminate this Contract for any reason prior to 5:00 PM on May 6, 2011. and in such event, the Earnest Money(and any interest earned thereon) shall be returned to Village. D. Seller represents and warrants there is no one occupying the building. E. Unless the Village has terminated the contract pursuant to 3C above, the Earnest Money shall become non-refundable at 5:00 PM on May 6, 2011, and shall be applied to the Purchase Price at the closing. 4) TAX PRORATIONS: At closing, Seller shall pay and prorate 2010 and 2011 real estate taxes at 150% of the 2011 taxes through the date of closing. The parties shall re-prorate said taxes upon ascertainment of that actual tax bill. 5) TITLE: At Sellers expense, Seller will deliver or cause to be delivered to the Village within five (5) days in advance of Closing, as evidence of tile in Seller, a title commitment for an ALTA title insurance policy in the amount of the Purchase Price with extended coverage by a title company mutually acceptable to the parties Contract for the Purchase of 8533 Callie Avenue Page 2 of 4 issued on or subsequent to the Date of Acceptance of this Contract, subject only to items listed in Paragraph 7. The parties shall each pay their respective usual and customary share of the additional title charges and the parties shall equally pay for any deed in money closing escrow incurred as a result of this transaction. If the title commitment discloses any exceptions not acceptable to the Village, then Seller shall have said exceptions or encroachments removed, or have the title insurer commit to insure against loss or damage that may be caused by such exceptions or encroachments. If Seller fails to have unpermitted exceptions waived or title insured over prior to Closing, Village may elect to take the title as it then is, with the right to deduct from the Purchase Price prior encumbrances of a definite or ascertainable amount as agreed by the parties. Seller shall furnish Village at Closing an Affidavit of Title covering the date of Closing, and shall sign any other customary forms required for issuance of an ALTA Insurance Policy. 6) SURVEY: Within seven days prior to closing, Seller shall furnish a staked ALTA survey dated within 90 days of closing showing all boundaries, rights of way, easements, and set back lines and evidencing that the property is free of all encroachments. 7) DEED: Seller shall convey or cause to be conveyed to the Village good and merchantable title to the Real Estate by recordable general Warranty Deed subject only to: general real estate taxes not due and payable at the time of Closing, covenants, conditions, and restrictions of record, building lines and easements, if any, so long as they do not interfere with the current use and enjoyment of the real estate. 8) POSSESSION: At closing. the Seller shall surrender the property. The property shall be in broom clean condition with all personal property removed. 9) SELLER REPRESENTATIONS: Seller represents that all leases and tenancies have been fully disclosed to Village and shall be terminated prior to the closing, that Seller has not received written notice from any Governmental body of(a)zoning, building, fire or health code violations that have not been corrected; (b) any pending rezoning; or(c) a proposed or confirmed special assessment andior special service area affecting the Real Estate. Seller further represents that Seller has no knowledge of boundary line disputes, easements or claims of easement not shown by the public records, any hazardous waste on the Real Estate or any improvements for which the required permits were not obtained. 10) MAINTENANCE OF PROPERTY: Subject to paragraph 11, the property (including the building and the grounds) shall be maintained in the same condition as found on the date of the contract, normal wear and tear, excepted. 11) INTENTIONALLY DELETED 12) DEFAULT: Seller shall be responsible for all damages, reasonable costs and expenses including attorney's fees directly caused due to the failure of the Seller to comply with the terms of the purchase Contract. The Village shall be responsible for all damages, reasonable costs and expenses, including attorneys fees directly incurred by the Seller, in excess of any earnest money retained by Seller due the failure of the Village to comply with the terms of the purchase Contract. 13) NOTICE: All notices required shall be in writing and shall be delivered by personal delivery; by certified mail, return receipt requested which shall be effective on the date of mailing; or by sending facsimile transmission which shall be effective as of date and time of facsimile transmission, provided that the notice transmitted shall be sent on business days during business hours (9:00 A.M. to 5:00 P.M. Chicago time). In the event fax notice is transmitted during non-business hours, the effective date and time of notice is the first hour of the first business day after transmission. Notices to the Seller shall be mailed to Contract for the Purchase of 8533 Callie Avenue Page 3 of 4 Notices to the Village shall be mailed or faxed to Teresa Hoffman Liston, Corporation Counsel, 6101 Capuiina Avenue, Morton Grove, Illinois 60053, fax 847-965-4162. 14) MISCELLANEOUS: A. Time is of the essence of this Contract. B. The Seller shall pay for all County, State and Municipal transfer taxes if any. C. All disputes related to the construction or enforcement of these terms and provisions shall be governed by the laws of the State of Illinois and are subject to the covenant of good faith and fair dealing implied in all Illinois contracts. D. All fixtures, mechanical equipment and appliances within the real estate as of the date this Contract has been executed shall remain at the real estate and shall be transferred to the Village at closing in "AS IS' condition pursuant to a Bill of Sale. E. The terms of this contract and all related negotiations shall be kept confidential to the extent allowed by law. F. The parties agree to comply with the reporting requirements of the applicable section of the internal Revenue Code and the Real Estate Settlement Procedures Act of 1974, as amended. This Contract has been executed as of , 2011 (the Contract date). THIS CONTRACT SHALL NOT BE BINDING UNTIL IT HAS BEEN APPROVED BY THE CORPORATE AUTHORITIES OF THE VILLAGE OF MORTON GROVE. "Seller' "Buyer" VILLAGE M+RT'sN GROVVILLINOIS By: By: /Or Name: Name: Da iel J. otaackmann Title: Owner Title: Vitiate President Attest By: 411,, Name: Tony S. Kaloaerakos Title: Village Clerk Contract for the Purchase of 8533 Callie Avenue • Page 4 of 4 Exhibit A Property Index Numbers: 10-20-113-015-0000 Description Lot forty two (42) in Block four (4) in Bingham and Fernald' s Morton Grove Subdivision being Lot forty (40) in the County Clerk ' s Division of Section twenty (20) and4the East half of the North East quarter of Section nineteen (19) , Township forty one (41) North, Range thirteen ( 13) , East of the Third Principal Meridian, (except a tract two hundred (200) feet North and South by one hundred eighteen and nine tenths ( 1I8.9) feet East and West at the South West corner of said Lot forty (40) . . Lis CI iii. V ' S c C H P V 71 6.I t{: L¢[q5 `§L e si :"a t El t3 2 ° A3Ttl €_ �t 9 €e an and ) F. 0.9Z n ...0 I- 929[ 8 � : A y e • n <c°1 E g • 9E':d W tFa - ! -ig 64 °'E E2 xa 9, :r R D Nor_ ;: _ 2 _: F,E; G i x W N L w fihi p3 E mill` ° b\°¢m 3 `.6= •'�a'•'. 25-E °g . t g ,,,.. epg3 i- \m = Z '3. a \\wee s e9ss q,. 06'SL4 Q•SZ 1` (c M` YR aWaVao *\\ T°°.A3 r16fld Sue$ M/ `/ F L°6NPM°!FaVmN 6°V VV a°iwm av�a°°o` <' 4 e° a.5 c_ 3fU4'g/4V °W`°YM<YWd �kild 5 a 3 3:Y# y. S . _ inh S 3a i = g4Yp;i Cook County Assessor's Office Page 1 of 2 Cook County Assessor's Office Joseph Berrios 8533 Callie Ave PIN 10-20-113-015 0000 Property Appeals Exemptions Certificate Of Error Property Details City Morton Grote Township Click Here to Niles �/ /�� NBHD. V'i ew Image Taxcode Image Class 2-03 0.VIEW LARGER IMAGE Assessed Valuation 2010 2009 Assessor Certified Board of Review Assessment Certified Land Assessed Value 2,480 2,557 Building Assessed Value 16,693 23,900 Total Assessed Value 19,173 26,457 Property Characteristics Estimated 2010 Market Value 191,730 Estimated 2009 Market Value 264,570 Description One Story Residence,Any Age,1,000 to 1,800 Sq.Ft. Residence Type 1.5 to 1.9 Stories Use Single Family Apartments None Exterior Construction Frame Full Baths 1 Half Baths 0 Basement' Partial and Unfinshed Attic Full and Uvirg Area Central Air No Number of Fireplaces 0 Garage Size/Type2 2 car detached Age: 122 Land Square Footage 3,100 Building Square Footage 1,094 Assessment Pass Assessor Certified 'Excluded from building square footage,except apartment 2 Excluded from building square footage htt p://www.cookcountyassessor.com/Property_Search/Property_Details.aspx?Pin=10201130150000 6/1/2011 N 4r O N a — .r YI O c } Q 0 C N U 7 3 a S _ ba to cat 0. m z v O G u u o m 'C 'a Q m CO f a ` W o y, h °c E = I » O � m ; zor ° IX O C a w HT !aa >� .0 .0 Q= y Q -0 O L ut.� , ta II -: G a J L �'3 n O 'er? �yC ID W J ID-0 N O r-� �3'� U' J C C as °a._ N F+ r-i rrT Q = W .ON, C O E v O R . 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UV fZ 'd.' j = v � i 4.. r s: a 7 C E a a C a C J ffn '�. zr 171-7 m E on O f^ r .�: rn L L C U U CI v v ti v _ co a) m` o > > . 0 s: a 0E _Nvz ? ,n ao "4 y cu ° � � la E U 3 G z L Lia C7o X0_ 1 cn U_ ci, [Main File Nc.8533Calli Page#11 SUMMARY OF SALIENT FEATURES Subject Address. 8533 Collie Avenue Legal Description N/A Complete Summary Appraisal Report City Morton Grove County Cook State IL En • Zip Code 60053-2802 Census Tract 8083.01 Map Reference 29404 Sale Price $ N/A z' Date of Sale 10/13/10 Inspect. Borrower/Client N/A Client Village of Morton Grove S'¢e(Square Feel) 1,094 Price per Square Foot $ • Location Average cc Age 123 years 0 - Condition Average Es Total Rooms 6 Bedrooms 3 Baths 1 ES Appraiser Peter Soukoulis L- Date of Appraised Value 10/13/10 Final Estimate of Value $ 125.000 Form SSD—"WinTDTAL°appraisal software by a la mode.inc.—1-800-ALAMODE Soukoulis Appraisal(3121738-4162 IMain File No.8533CaltI Pace#y Uniform Residential Appraisal Report Fite#8533Ca11 The oumese of this summary appraisal report is to provide the lender/client with ac accurate.ant adeeuately supported.opinion of the market value of the subject property. Properly Address 8533 Calhe Avenue City Morton Grove State IL Zip Code 60053-2802 Borrower N/A Owns of Public Record Owner of Record County Cook Legal Descnpfion N/A Complete Summary Appraisal Report Assessors Parcel# 10-20-113-015 Tax Year 2008 R.E.Taxes$ 758.99 Neighborhood Name Morton Grove Map Reference 29404 Census Tract 8083.01 Occupant E Owner 7 Tenant Vacant Special Assessments$ None noted 'PUD HOA$ _per year per month PropedyRignts Appraised E Fee Simple _'Leasehold Otter(describe) Assignment Type • I Purchase Transaction Refinance Transaction 7 Other Idescnbei Determination of Market Value as-is under current market conds. Lender/Chem Village of Morton Grove Address 6101 Capulina Avenue Morton Grove,Illinois 60053 Is the Subject property currently offered for sale or has it been offered for sale in 0e twelve months prior to the effective date of this appraisal? 7 Yes 7 No Report data source(s)used.offencg pncels).and date(sl. Per CAR/MLS/Tax Records. There is no 36 month history.The subject has not been transferred or listed for sale in the past 36 months. did 7 did not analyze the contract for sale for the subject purchase transaction.Explain the results of the analysts of the contract for sale or why the analysis was not performed. The subject is not under contract as of the date of this appraisal. - Contract Price$N/A Date of Contact.10/13/10 Ins is the property seller the owner of public record? Yes No Data Source(s) Is there any financial assistance(loan charges,sale concessions.gift or oownpayment assistance.etc.)to be paid by any pay on behalf of the burrower? El Yes Ej No If Yes,report the total dollar amount and describe the hems to oe paid. None noted Note:Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics I One-Unit Housing Trends , One-Unit Housing Present Land Use% Location 7 Urban Z Suburban 7 Rural I Property Values "Increasing Z Stable Declining I PRICE AGE One-Urdf 50% Built-Up 7 Over 75% 7 25-75% 7 Under 25% Demand/Supply Shortage 7 In Balance Over Supply F $(0001 (yrs) 2-4 Unit 10% Growth —i Rapid Z Stable J Slow Marketing Time E Under 3 mths 3-6 nth 7 Over 6 Mms I 115 Law New Mull-Family Neighborhood Boundaries The subject is bounded by Dempster Avenue north.Edens Expressway east, 720 High 125+ I Commercial 10% Lincoln Avenue south and Lehigh Avenue west in the Village of Morton Grove. J 274 Pred. 45+ I Other 30% Neighborhood Descnotion The area has a stable and diverse employment base.The subject is in convenient proximity to all necessary supporting facilities including shopping.schools and public transportation.the subject's market is considered to be currently oversupplied.This is due in part to the overbuilding of the Village of Morton Grove in contunction with the credit tightening due to the sub prime mortgage crisis. Market Conditions(including support for the above conclusions) There are currently 13 active listings of homes priced between$155,000 and$199.900 and the average marketing time is 146 days.There have been 38 sales of homes priced between 599,900 to$200,000 in the past 12 months.This indicates a sales rate of 3.17 sales per month indicating a 4.10 month supply.Less than a six month supply is considered a healthy market. Dimensions 50 x 156(subject to survey) Area 7.800 Sq.FI. Shane Rectangular View Similar properties Specific Zoning Classification C/R;Commercial/Residential D Zoning Description Single Family per Village of Morton Grove Zoning Compliance 7 Legal 7 Legal Nonconforming(Grandfathered Use)7 No Zoning 7 Illegal(describe) Is the highest and best use of subject property as improved(or as proposed per plans and specifications)Vie present use? 3'Yes 7 No If No.describe Utilities Public Otherfdescribe) Public Other(describe) Off-site improvements-Type Public Private Elecbrcey 7' _ Water Street Asphalt 7 ' Gas B Sanitary Sewer 7 _ Alley Concrete g _ FEMA Special Hood Hazard Area Yes 7 No FEMA Feed Zone x FEMA Mao# 1709700162G FEMA Map Date 9/7/2000 Are the utilities and off-site improvements typical for the market area? 77 Yes 'No n No.describe Are there any adverse site condifions or extemal factors(easements.encroachments.environmental conditions.land uses.etc.)? Yes 7.No If yes.describe General Description Foundation Exterior Description materials/condition Interior materials/condition Units'7 One i]One with Accessary Unit 7 Concrete Slab —!Crawl Space Foundation Walls Brick/Average Floors Carpet/Avg #of Stones 1.5 7 Full Basement Partial Basement Exterior Walls Frame/Average Walls Paneling/Avg Type g Det. 7 Att. 7 S-Del/End Und Basement Area 1.094 soft.Roof Surface Asphalt/Average Trim/Finish Wood/Stain/Avg gl Existing Proposed 7 Under Const.Basement Finish _ 0 %Gutters&Downspouts Aluminum/Average Bath Floor Ceramic Tile/Avg Design(Style) Bungalow 7 Outside Entry/Exit _'Sump Pump Window Type W d.DH/Average Bath Wainscot Ceramic Tile/Avg Year Built 1887 Evidence of Infestation Storm SasaInsulated Yes/Average Car Storage •None Effective Age(Yrs) 30 7 Dampness Settlement Screens Yes/Average _I Driveway #of Cars Attic 7 None Hearne FWA '<,HWBB ]7 RadiamlAmenipes Woodsove(s)# Driveway Solace Omp Stair E'Stairs _ Other I Fuel Gas 7 Rreplace(s)# 7 Fence 7 Garage #of Cars 2 g Floor 7 Scuttle Cooling t •Central Air Conditioning I Patio/Deck `r:Porch Enclosed 7 Carport #of Cars Aniseed _I Healed _ Individual 17 Other Window 7 Pool _•Other t Ate. 7 Det. _i Buill-in Appliances 7 Refngerator 7 Ranee/Oven Dishwasher i Disposal Microwave —'WasteriOrver —.Other(describe) finished area above grade contains: 6 Rooms 3 Bedrooms 1 Baths) 1.094 Square Feet of Gross Living Area Above Grade Additional features(special energy efficient items.etc.). Minimal as is typical. Describe the condition of the property(including needed repairs.deterioration.renovations.remodeling,etc.). The subject property is considered in clean yet dated condition.The kitchen features wood base/wall cabinets.original and updated appliances and laminate countertops.The bathroom has ceramic st tile floors and wainscot,wood vanity with conian top and a built in tub.The main living areas contain wall to wall carpeting in average condition,faux wood paneling over plaster walls and ceilings with hung light fixtures and stained wood doors and trim.Unfinished basement with additional laundry/mechanical room and storage. Are there any physical deficiencies or adverse conditions that affect One livability.soundness or structural integrity of the property' Yes 7 No If Yes.describe Does the property generally conform to the neighborhood(functional utility,style.condition.use,construction.etc.)? 7 Yes 7 No 4 No,describe Freddie Mac Form 70 March 2005 Page 1 of 6 Fannie Mae Form 1004 March 2005 Form 11104—•WinTOTAL•appraisal software by a a mode.inc.—t-800-ALAMODE (Main File No.85330aIII Pane#3 Uniform Residential Appraisal Report File#8533Ca11 — hire are 13 comparable propelies currently offered for sale in the subject neighborhood ranging in price from S 155.000 to 3 199.900 There are 3B comparable sales in the subject neighbohood within the oast twelve months ranging in sale once from$ 99.900 to$ 200.000 . FEATURE ! SUBJECT COMPARABLE SALE#1 COMPARABLE SALE#2 COMPARABLE SALE#3 Address 8533 Cagle Avenue 18618 North Georgiana •8816 South Marmora Avenue '.8633 Ferris Avenue Morton Grove.IL 60053-2802 i Morton Grove I Morton Grove :Morton Grove Prodmity to Subject .22 miles .81 miles .18 miles Sale Price IS N/A IS 138.000 i$ 141,000' I$ 132.000 Sale Price/Gross Liv.Area IS soil.:$ 117.35 sqR[ IS 104.83 soft] 1$ 115.69 sgfl Data Source(s) !. I CAR/NILS/Tax Records .CAR/MLS/Tax Records 'CAR/MLS/Tax Records Verification Source(s) ' i Tax Records 'Tax Records ''Tax Records VALUE ADJUSTMENTS DESCRIPTION 1 DESCRIPTION 1 +1-1$Adjustment DESCRIPTION I -4-i-)$Adiusbnent DESCRIPTION +(-1$Adjustrnmt Sales or Rnanung I I None noted j 'None noted 1 :Bank Owned Concessions i I None noted , !.None noted 1 iNone noted I Date of Sale/Time 1 112/28/09136MTI i 10/30/09179MT1 7/30/10 37MT I Location Average 'Average '. Average •Average . Leasehold/Fee Simple iFee Simple Fee Simple :Fee Simple 'Fee Simple _ Site .3,100 Sq.Ft. '.6,776 Sq.Ft. I -15.000'3.125 Sq.FL I '.6.000 So.Ft. 1 -15.000 View !Residential :Residential 'Average I 'Average Design(Style) i Bungalow i Bungalow 'Bungalow I 'Bungalow Quality of Construction i Frame !Frame 'Frame Frame 1 Actual Age :123 years 191 years 173 years ! I91 years i Condition :Average IAverage I IAverage i !.Average 1 Above Grade Total I Wm. Baths Total Illoarns I Baths 1 Total I Bcrms.1 Battls •Total Bdrms.I Barns Room Coum 1 6 1 3 1 7 j 3 1 I 5 1 2 I 1 +1,500, 6 3 I1.1 +2.500 Grass Living Area 1.094 suit.! 1.176 sq,ll I 0 1.345 spit -3,953' 1,141 suet. 0 Basement&Finished 11,094 Sg.Ft. I Full,No finish ' :Full.No Finish ' !Full,Finished Rooms Below Grade I None 1None I None Rec.Bath.Bed i -5.000 Functional Utility IAverage IAverage 1 :Average ;Average Heating/Cooling ISteam/None IGFA/CAC 1 -3.500:Steam/None IGFArCAC I -3.500 Energy Efficient Items IMinimal ;Minimal 1 I Minimal !Minimal Garage/Carport .2 car garage -2 car garage i 12 car garage '.1 car garage I +2,500 Porch/Patio/Deck 'Enclosed Porch I Patio i 'Pato I Patio Modernization IAverage ''Average I :Average !Average • Net Adjustment(Total) ' 7+ s- k -18.500' + iZ - $ -2,453 7+ Z - $ -18.500 Adjusted Sale Price 'Net Adj. 13.4 % Net Adj. 17 % !Net Adl. 14.0 % of Camparables Grass Adj. 134 % $ 119.5001Gross Adj. 3.9 % $ 138.547IGross Adj. 21.6 % $ 113.500 I �'ji did 1,_I did not research the sale or transfer history of the subject property and comparable sales.If nat.exam] My research 'J did Z did not reveal any prior sales or transfers of the subject oropertv for the three years Door to the effective date of this appraisal. Data Sorrce(s) Tax Assessor My research ❑did 'g1 did not reveal any poor sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale. Data Source(s) Tax Assessor Report the results of the research and anaysis of the prior sale or transfer history of the subject oropeiw and comparable sales(report additional prior sales on page 3). ITEM SUBJECT 1 COMPARABLE SALE#t ! COMPARABLE SALE#2 COMPARABLE SALE#3 Date of Prior Sale/Transfer No 36 Month Sales History No 36 month sales history 17/9/10 No 36 month sales history Price of Prior Sale/Transfer 0 0. 205.000 0 Data Source(s) Tax Records.CAR/MLS Tax Records.CAR/MLS Tax Records.CAR/MLS Tax Records,CAR/MLS Effective Date of Data Source(s) Inspection Date I Inspection Date Inspection Date [Inspection Date Analysis of prior sale or transfer history of the subject propely and comparable sales The subject property was purchased by the current owner over 30 years ago for an undisclosed amount.The comparables have not transferred in the past three years other than the transactions mentioned above. Comparable#2 was purchased by an investor.renovated and re-sold 7/9/10 for$205 000. Summary of Saks Comparison Approach The comparable's listed above are from the subject's immediate area and were considered the best available. Gross living area was calculated utilizing published data as well from exterior inspection.All of the sales are similar vintage residences located within the Village of Morton Grove.Comparable#1 adjusted for superior site size and superior HVAC.Comparable#2 adjusted for inferior bedroom count and superior square footage.Comparable#3 adjusted for superior bathroom count.supenor basement finish.superior HVAC and inferior garage count.Due to the lack of recent verifiable sales the above comparables were considered the best available.Equal emphasis on all sales after considering adjustments. Indicated Value by Sales Comparison Approach$ 125.000 Indicated Value by:Sales Comparison Approach$ 025,000 Cost Approach(if developed)S Income Approach('developed)f This Cost Approach to value was given minimal emphasis based on the age and condition of the subject.The Income Approach to value was considered but not developed due to minimal comparable rental data in the area.The Sales Comparison Approach was given primary emphasis in our final analysis tempered by the Cost Approach. Tlus appraisal is made Z'as is". _ suolect to completion per pans and specifications on the oasis of a hypothetical condition that the improvements have been - completed, L:subject to the fotowing repairs or alterations an the basis of a hypothetical condition that the repairs or alterations have been completed.or Z subject to the . folowing reqtired inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: No warranty of the appraised property is given or implied.No liability is assumed for the structural or mechanical elements of the property Based on a complete visual inspection of the interior and exterior areas of the subject property,defined scope of work,statement of assumptions and limiting conditions,and appraiser's certdication,my(our)opinion of the market value,as defined,of the real property that is the subject of this report is S 125.000 as of 10/13/10 .which is the date of inspection and the effective date of this appraisal. Freddie Mac Form 70 March 2005 Page 2 of 6 Fannie Mae Form 1004 March 2005 Form 1004—WinTOTAL'appraisal software by a la mode.inc.-1-800-ALAMODE IMain File No.8533Calll Pape#41 Uniform Residential Appraisal Report File/X 8533Call COST APPROACH TO VALUE(not required by Fannie Mae) Provide adequate information for the lender/client to replicate the below cast figures and calculations. Support for the opinion of site value(summary of comparable land sales or other methods for estimating site value) Due to the age of the improvements,the Cost Approach to value was considered but not developed due to its marginal relevance. ESTIMATED i� REPRODUCTION OR _ REPLACEMENT COST NEW [OPINION OF SITE VALUE =5 Source of cost data DWELLING Sq.FI.@$ =5 Quality rating from cost service Effective date of cost data i So.Ft.@ S =5 Comments on Cos!Approach(gross living area calculations.depreciation.etc.) i =5 IGarage'Caroom Sq.Ft.@$ =5 [Total Estimate of Cost-New =5 [Less Physical 'Functional !External [Depreciation I =$( [Depreciated Cost of Improvements =$ 'As-is'Value of Site Improvements =5 Estimated Remaining Economic Life(HUD and VA ony) Years I INDICATED VALUE BY COST APPROACH =5 INCOME APPROACH TO VALUE not required by Fannie Mae) Estimated Montlly Market Rent$ X Gross Rent Multiplier =$ Indicated Value by Income Apprnacn Summary of income Approach(including support for market rent and GRMI PROJECT INFORMATION FOR PUDs Of applicable) Is the deve lope r/builder in control of the Homeowners Association(HOA1? Yes —I No Unit typels) Detached Attached Provide the following information for PUDs ONLY if hie developer/builder is in control of the HOA and the subject property is an attached dwelling unit. Legal Name of Project Total number of phases Total number of units Total number of units sold Total number of units rented Total number of units for sale Data source(s) Was the project created by the conversion of misting building(s)into a PUD? Yes No If Yes.date of conversion. Does the project curtain any multi-dwelling units? Yes No Data Source Are the units,common elements.and recreation facilities complete? Yes ].No If No. me status of completion. Are the common ekmalls leased to or by the Homeowners'Association? 7 Yes No If Yes,describe the rental terms and options. Describe common ederlents and recreational facilities. Freddie Mac Form 70 March 2005 Page 3 of 6 Fannie Mae Form 1004 March 2005 Form 1004—'WinTOTAL'appraisal software by a la mode inc.—1.800-ALAMODE Main File No.8533Calf Pane#51 Uniform Residential Appraisal Report Filet/8533Ca11 This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative protect. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. Modifications. additions, or deletions to the intended use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization. are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value. statement of assumptions and limiting conditions, and certifications. The appraiser must. at a minimum: (1) perform a complete visual inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the subject of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this appraisal report is the lender/client. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale. the buyer and seller, each acting prudently. knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto: and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions" granted by anyone associated with the sale. 'Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the properly and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject she is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs. deterioration. the presence of hazardous wastes, toxic substances. etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the properly (such as, but not limited to, needed repairs. deterioration, the presence of hazardous wastes. toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs. or alterations of the subject property will be performed in a professional manner. Freddie Mac Form 70 March 2005 Page 4 of 6 Fannie Mae Form 1004 March 2005 Form 1004—WinTOTAC-appraisal software by a la mode.inc.—14160-ALAMODE (Main File No.8533Ca111 Pace#61 • Uniform Residential Appraisal Report File#8533Ca11 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop . them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locationally,physically, and functionally the most similar to the subject property. 8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified,from a disinterested source,all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area. 12. I am aware of, and have access to,the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood. subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as. but not limited to, needed repairs, deterioration. the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value. and have reported on the effect of the conditions on the value and marketability of the subject property. 15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. I stated in this appraisal report my own personal. unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value. a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility tor It. 20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report. Freddie Mac Form 70 March 2005 Page 5 of 6 Fannie Mae Form 1004 March 2005 Form 1004—^winiOTAL'appraisal software by a Is mode.ire—1400-ALAMODE Main File No.8533Calli Pane#71 . Uniform Residential Appraisal Report File et 8533Ca11 21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions: without having to obtain the appraiser's or supervisory appraiser's Of applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage insurers, govemment sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of any mortgage finance transaction that involves any one or more at these parties. 24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature" as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. 25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, et seq., or similar state laws. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. I directly supervised the appraiser for this appraisal assignment,have read the appraisal report,and agree with the appraiser's analysis, opinions, statements, conclusions. and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Processional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my"electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER '/'/ SUPERVISORY APPRAISER(ONLY IF REQUIRED) Signature," Signature Name Peter Souko Its Name Company Name Soukoulis Appraisal.Inc. Company Name Company Address 1859 North Elston Avenue.Second Fbor Company Address Telephone Number 312.738.4162 Telephone Number Email Address pis(r'soukoulisappraisal.com Email Address Date of Signature and Report 10/13/10 Date of Signature Effective Date of Appraisal 10/13/10 State Certification# State Certification# 553-001439,exp.9/11 or State License# or State License# State or Other(describe) State# Expiration Date of Certification or License State IL Expiration Date of Certification or License exp.9/11 SUBJECT PROPERTY ADDRESS OF PROPERTY APPRAISED - Did not inspect subject property 8533 Callie Avenue I Did inspect exterior of subject property from street Morton Grove,IL 60053-2802 Date of Inspection APPRAISED VALUE OF SUBJECT PROPERTY$ 125.000 7 Did inspect interior and exterior of subject property LENDER/CLIENT Date of Inspection Name John Said Company Name Village of Morton Grove COMPARABLE SALES Company Address 6101 Capulina Avenue _ Did not inspect exterior of comparable sales from street Morton Grove,Illinois 60053 — Did inspect exterior of comparable sales from street Email Address isaid(wmortonorovell.org Date of Inspection Freddie Mac Form 70 March 2005 Page 6 of 6 Fannie Mae Form 1004 March 2005 Form 1004—'WinTOTAL'appraisal software by a la moan.inc.—1-800-ALAMOOE Main File No 8533Ca10 Pane#81 Subject Photo Page Barrower/Cher; N/A Properly Address 8533 CaIlie Avenue City Morton Grove County Cook State IL Zip Code 60053-2802 Client Village of Morton Grove Subject Front 8533 Cattle Avenue Saks Pnce N/A Gross Living Area 1.094 Total Rooms 6 Total Bedrooms 3 F----- Total Bathrooms 1 Location Average View Residential f - Site 3,1005q.Ft. Age 123 years Subject Rear h£f. jr I e i M t Subject Street 9 :-s r be �_ g Form PICPI%.5R—'WinTOTAL'appraisal software by a la mode.Inc.—1-800-AAMOOE (Main File No.8533CaIII Pane#9i Subject Photo Page Borrower/C4em N/A Pronely Address 8533 Cagle Avenue CM Morton Grove County Cook State IL Zip Code 60053-2802 Client Vibade of Morton Grove f "'' _ Kitchen .. �' ,� _ 9 8533 Callie Avenue 1 Saks Price N/A Gross Living Area 1,094 ' r _ _ - _ Total Rooms 6 "=n _ A - * Total Bedrooms 3 Total Bathrooms 1 -- - p Location Average " _ ---Me,,. s View Residential Site 3.100 Sq.Ft. Quality Frame �---1 .° uc s - Age 123 Years :tee �, s'r'F Living Room *i< — c ift- )%t ,!rmitM r I -- - Basement _ a'a i — - — .- f i 1 ,-.1-T ��. has- .el if « - t r ` Ea 1 u 3 3 , Form PIC3x5.SR—WInTOTAL"appraisal software by a la mode.inc.—1-800-ALAMOOE Main Ale No.8533Ca111 Pace#101 Comparable Photo Page Borrower/Chent N/A Progeny Address 8533 Cattle Avenue City Morton Grove Count) Cook State IL Zip Cone 60053-2802 Client Village of Morton Grove , ... ya� .'4 Comparable 1 .' Y Y I d. is - 4. 8618 North Georgian Kia k' -'r • rte.. dos Pro._to Subject .22 miles p,_ x Sales Price 138.000 11�' Gross Living Area 1,176 `• +_v -- •- iota)Rooms 7 v f/f y- Total Bedrooms 3 V t +'_ - Total Bathrooms I - w Location Average '� �, r 2 View Residential T _ I. Site Frame Sq.Ft. °' F -',.= Oualiry Frame �• w 2 - ..c i-_� Age 91 Years J i - .,yam m ' =v.r.5,ft-,,..„_.e..,'...:::-,_, Comparable 2 8816 South Marmora Avenue Prox.to Subject 81 miles Sales Price 141,000 �- . 7 - s pp Gross Living Area 1,345 i. :. \ v l Total Rooms 5 r �`-- "- � �' .ter „.y w, 4p l Total Bedrooms 2 rr 7` r a Tntal BaNrooms 1 " 7 0 s ®� w # . Location Average r.ar< ® { flu View Average _ _ _ - Site 3,125 Sq.Ft. --- - - 1 QuaFty Frame Age 73 years ;kJ,,.. Comparable 3 /-..,...--.:.M !2" '� 9` r t'u'b ; i t 8633 Fems Avenue i VytE-4.4,�• -7�: kid Prox.to Subject 18 miles Sales Rice 1,141 a _+ ° 'y. - -- _ _ - +` Gross Living Area 1,141 Total Rooms 6 l hNY 'y' Total Bedrooms 3 ;',; -.j a}�T _ _ ..��, :• Total Bathrooms 1.1 -�4 Location Average »';.y: r;= ,•.1 - ri View Average „; Site 6,000 Sq.Ft. - t 't‘to?''`':31M®` • S y Quality Frame `kr '�4 i - - t4,-;w A v Age 91 years a �t i �k T = Form PIC3x5 CR-W inTOTAL”appraisal software by a Ia mode,inc.-1-800-ALAMODE (Main Ale No.8533CsIII Pane#11'! Aerial View Borrower/Clem N/A Property Address 8533 Collie Avenue City Morton Grove County Cook State IL bp Code 60053-2802 Chem Village of Morton Grove r ¢' A o tk • _nom y ■ I '*flp`:s -.1'f•11aiICTa.{b ,..;.max f• t. • I U `� Liz-. v <_ a 1 „ Y: Or_•. 0 • _. , _ ..: -a^� Form MAP PLAT—'WinTOTAL-aporaisai software by a la mode.ino.—1-800-ALAMOOE Main File No.8533Ca111 Paae#12: Location Map Borrower/Client N/A Properly Address 8533 Cable Avenue City Morton Grove County Cook State IL Zip Code 60053-2802 Client Village of Morton Grove 0 1200 m 1 600 it • • rnapouIeSL @2010 AIhi0eest Portions @2010>nv'r O,Intuinap Form MAP.LOC—WinTOTAL`appraisal software by a la mode.inc.—1.800-ALAMOOE (Main Ale No.8533Call(Pane#131 DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently. knnwieageaby and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of tiee from seller to buyer under conditions whereby: (1)buyer and seller are typically motivated;(2)both parties are well informed or well advised.and each acting in what he considers his own best interest',(3)a reasonable time is allowed for exposure in the open market(4)payment is made in terms of cash in U.S.dollars or in terms of financial arrangements comparable thereto;and(5)the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions' granted by anyone associated with the sale. `Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area, these costs are readily Identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to be comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the propelh' or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgement. STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND LIMITING CONDITIONS: The appraisers certification that appears in the appraisal report is subject to the following conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect ether 0e property being appraised or the title to it. The appraiser assumes that The title is good and marketable and.therefore.will not render any opinions about the title. The property is appraised on the basis of it being under responsible ownership. 2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraisers determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency(or other data sources)and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor.he or she makes no guarantees.express or implied.regarding this determination. 4. Tne appraiser wit not give testimony or appear in court because he or she made an appraisal of the property in question,unless specific arrangements to do so have been made beforehand. 5. The appraiser has estimated the value of the land in the cost approach at its hignest and best use and the improvements at their contributory,value.These separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid it they are so used. 6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs. depreciation, the presence of hazardous wastes. toxic substances. etc.)observed during the inspection of the stripiest property or that ne or she became aware of during Ire normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report the appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions mending the presence of nazaroous wastes.toxic substances. etc.)that would make the property pore or less valuable.and has assumed that there are no such conditions and makes no guarantees or warranties. express or implied. regarding the condition of the property. The appraiser will not be responsible for any such condhans that no exist or for any engineering or testing that might be required to arscover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards. the appraisal report must not be considered as an environmental assessment of the property. 7. The appraiser obtained the intonation. estimates. and opinions that were expressed in the appraisal report from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for rite accuracy of such items that were furnished by other parties. 0. Tne appraiser will not disclose the contents of the appraisal report except as provided ton in the Uniform Standards of Professional Appraisal Practice. 9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal Mat is subject to satisfactory completion, repairs. or alterations on the assumption that completion of the improvements will or performed in a workmanlike manner. 10. The appraiser must provide his or her prior wntten consent before the lenoetltlxent specified in the appraisal report can distribute the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations. and references to any protessional appraisal orgarvxahons or the firm with which the appraiser is associated)to anyone other than the borrower:the mortgagee or its successors and assigns;the mortgage insurer. consultants: professional appraisal organizations: any state or federally approved financial institution: or any department. agency. or instrumentality of the United States or any state or the District of Columbia:except that the lender:client may distribute Ire property description section of the report only to data collection or reporting service(s) without navirg to obtain the appraiser's prior written consent. The appraiser s written consent and approval must also be obtained before the appraisal can be conveyed by anyone to the public through advertising. public relators. news. sales. or outer media. Freddie Mac Form 439 6-93 Page 1 of 2 Fannie Mae Form 10048 6-93 Soukoulis Appraisal(312(738-4162 Form ACR—VIinTOTAL°appraisal software by a la mode.inc—1-800-ALAMODE [Main File No 8533Calll Pate#141 APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees feat: 1. I have researched the subject market area and have selected a minimum of flee recent sales of properties most similar and proximate to the subject property for consideration in the sales companson analysis and have made a dollar adjustment when appropriate to reflect the market reaction to most items of significant variation. tl a significant item in a comparable property is superior to.or more favorable than.the subject property. I have made a negative adjustment to reduce the adjusted sales price of the comparable and,if a significant tern in a comparable property is inlenar to.0r less favorable than the subject property.I have made a positive adjustment to increase the adjusted sales price of the comparable. 2. I have taken into consideration the factors that have an impact on value in my uevelopment of the estimate of market value in the appraisal report I have not mowingty withheld any significant information from bit appraisal report and I beeeve. to the nest of my knowledge.that all statements and information in the appraisal report are true and correct. 3. I stated in the appraisal report only my own personal,unbiased,and professional analysis,opinions,and conclusions.which are subject only to the contingent and limiting conditions specified in this form. 4. I have no present or prospective interest in the properly that is the subject to this report.and I nave no present or prospective personal interest or bias with respect to the participants in the transaction.I did not base either partially or completely,my analysis andmr the estimate of market value in the appraisal report on the race,color.religion.sex,handicap,familial status.or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property. 5. I have no present or contemplated future interest in the sabiect properly,and neither my current or future employment nor my compensation for performing this appraisal is contingent on the appraised value of the property. 6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party,the amount of the value estimate. the attainment of a specific result,or the occurrence of a subsequent event in order to receive my compensation andror employment for performing the appraisal.I did not base the appraisal report on a requested minimum valuation,a specific valuation.or the need to approve a specific mortgage loan. 7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal.with the exception of the departure provision of those Standards,which does not apply.I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value and the estimate I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the reconciliation section. 8. I have personalty inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables in the appraisal report I further certify that I have noted any apparent or known adverse conditions in the subject improvements.on the subject site.or on any site within the immediate vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the event that I had market evidence to support them_ I have also commented about the effect of the adverse conditions on the marketability of the subject property. 9. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. If I relied on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation of the appraisal report.i have named such individua[js)and disclosed the specific tasks performed by them in the reconciliation section of INS appraisal report. I certify that any individual so named is qualified to perform the tasks.I have not authorized anyone to make a change t0 any item in the report:tnereiore.11 an unauthorized change is made to the appraisal report,i will take no responsibiity for it. SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: I directly supervise the appraiser whe prepared the appraisal report nave reviewed the appraisal repair..agree with ire statements and conclusions of the appraiser. agree to be bound by the appraiser's certifications numbered 4 through 7 above,and am taking full responsibility for the appraisal and the appraisal report. ADDRESS OF PROPERTY APPRAISED: 8533 Callle Avenue,Morton Grove.IL 60053-2802 APPRAISER: _ SUPERVISORY APPRAISER (only if required): Signature: Signature: Name: Peter Souko lis Name: Date Signed: 10/13/10 Date Signed' State Certification#: 553-001439.exp.9/11 State Certification#: or State License*: or State License#: State: IL State. Expiration Date of Certification or License:exp.9111 Expiration Date of Certification or License: Did . Did Not inspect Property Freddie Mac Form 439 6-93 Page 2 of 2 Fannie Mae Form 10049 6-93 Form AC8—'WinTOTAL'appraisal software by a la mode.ih:.—1-800-ALAMODE h k rK ,,fir. Village of Morton Grove Department of Building and Inspectional Services Direct Telephone 847 1 470-5214 Direct Fax 8471663-6185 February 10, 2011 TO: Joe Wade, Village Administrator FROM: Ed Hildebrandt, Building Commissioner Re: Proposed Parking Lot 8533 Cal lie Ave As directed, the following is a preliminary analysis of the Karlesky property, 8533 Callie Ave, for use as a parking lot. The lot is 25'x124' and is adjacent to the existing Fire Station Four parking lot. The analysis uses the parking space requirements found in Chapter 7 of the Village's Unified Development Code. I looked at two scenarios. First, combining the property into the Fire Station 4 lot; and second considering the property as a separate parking lot. The Station 4 parking lot currently has 25 parking spaces (24 regular+ 1 handicapped.) Combining the existing parking lot with the Karlesky property will create an area of approximately 93' x 124'. Maximizing the area will require changing the existing parking to 45-degree angle parking. The current curb cuts will access the existing lot, and new curb cuts at Callie Av and the alley are required to access the expanded area. Total parking for the reconfigured parking lot is 26 spaces (including 1 handicapped) giving a net increase of one space. Landscape buffering will be provided as required in the UDC. As a separate parking lot, the 25-foot lot width of the Karlesky property limits the parking layout to one row of parallel parking. The UDC requires a minimum 12-foot wide drive aisle for parallel parking using 8.5-foot wide parking spaces. One parking space, one drive aisle, and a 4.5-foot landscape buffer (along the north side) equal 25 feet. The minimum length of a parallel parking space is 21 feet. Five parking spaces (105'), a 5-foot landscape buffer at the rear (alley), and a 14-foot set back at Callie Av. Equal 124 feet. The 14-foot set back is consistent with the set back of the house to the north. The net increase in parking is five spaces (4 regular+ 1 handicapped.) Landscape buffering meets UDC requirements. Based upon the construction cost of the parking lot on Lincoln Av, and including demolition and potential limited asbestos removal,the cost of constructing the parking lot is in the range of$40,000 to $45,000. Richard T. Flickinger Municipal Center 6101 Capulina Avenue, Morton Grove, Illinois 60053-2985 STATE OF ILLINOIS) ) SS COUNTY OF COOK ) I. Tony S. Kalogerakos. Village Clerk for the Village of Morton Grove in the County of Cook. in the State of Illinois.do hereby certify that the following. hereinafter described. are true and correct copies of the original documents which are part of the records of my office as such Village Clerk: Resolution 11-23 Authorizing the Village of Morton Grove. to acquire property commonly known as 8533 Callie Avenue_ Morton Grove. Illinois I hereby subscribe my name as Village Clerk and affix the Official Corporate Seal of the Village of Morton Grove. this 10th day of May 2011. TONY S. KAMPF • KOS. Village Clerk Legislative Summary Resolution 11-23 AUTHORIZING THE VILLAGE OF MORTON GROVE TO ACQUIRE PROPERTY COMMONLY KNOWN AS 8533 CALLIE AVENUE, MORTON GROVE, ILLINOIS Introduced: May 9. 2011 Objective: To authorize the purchase of property commonly lmown as 8533 Caine Avenue which is adjacent to the Lehigh/Ferris LW District. Purpose: This property will be land banked and used for a future public purpose. Background: The Village has acquired numerous pieces of property for possible future 1 development from time-to-time. The property located at 8533 Caliie Avenue, immediately north of Fire Station No. 4,recently became available for purchase. As requested by the Village Board, Village staff has negotiated a contract with the j owner for Village Board approval. The terms of the contract include: I. The Purchase Price 5135.000; 2. Closing on or before May 31, 2011. Funds for the purchase and acquisition of this property are contained in the 2011 Budget. Programs, Departments Finance Depai fluent, Village Administrator, Legal Department, Community and or Groups Affected: Economic Development Fiscal Impact: 5135.000 Source of Funds: 1 Funds have been budgeted for in the 2011 Budget. Workload Impact: Corporation Counsel will handle the closing of this transaction as part of her normal workload. Administrator Approval as presented. Recommendation: Second Reading: ' Not Required Special Considerations or None Requirements: • Administrator Approval (t �a ` fpeph F. , rade, Village Administrator Prepared by: / :7 7' Teresa Hoffman',Aston, Corporation Counsel RESOLUTION 11-23 AUTHORIZING THE VILLAGE OF MORTON GROVE TO ACQUIRE PROPERTY COMMONLY KNOWN AS 8533 CALLIE AVENUE, MORTON GROVE, ILLINOIS WHEREAS, the Village of Morton Grove(VILLAGE), located in Cook County, Illinois, is a home rule unit of government under the provisions of Article 7 of the 1970 Constitution of the State of Illinois, can exercise any power and perform any function pertaining to its government affairs, including but not limited to the power to tax and incur debt; and WHEREAS. the property commonly known as 8533 Callie Avenue, Morton Grove, Illinois 60053 is adjacent to the Lehigh/Ferris TIF Redevelopment District; and WHEREAS, to date, as part of the Lehigh/Ferris Redevelopment Plan, the Village has acquired and land banked certain properties to further the goals of the Redevelopment Plan; and WHEREAS, it is in the best interest of the Village of Morton Grove to acquire the property commonly known as 8533 Callie Avenue, Morton Grove, Illinois 60053 to be used as stated above; and WHEREAS, the Village, in its 2011 budget. appropriated sufficient funds for the purchase and acquisition of certain properties; and WHEREAS, the cost to acquire this property shall be paid from the Village's Lehigh/Ferris TIF Fund; and WHEREAS, Village staff and the owner of the property have negotiated a contract for the purchase of the property subject to the approval of the Village Board of Trustees; and WHEREAS, the terms of the contract include: 1. The Purchase Price $135,000; 2. Closing on or before May 31, 2011. NOW, THEREFORE BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MORTON GROVE, COOK COUNTY, ILLINOIS AS FOLLOWS: SECTION 1: The Corporate Authorities do hereby incorporate the foregoing WHEREAS clauses into this Resolution as though fully set forth herein thereby making the findings as hereinabove set forth. SECTION 2: The Village President and Village Clerk of the Village of Morton Grove are hereby authorized to execute a contract between the Village and the owner of record for the purchase of property commonly known as 8533 Callie Avenue, Morton Grove, Illinois for the sum of S135,000 with a closing to occur on or about May 31, 2011, with additional terms and conditions in substantial conformity with Exhibit "A". SECTION 3: The Village Administrator, Corporation Counsel and/or their designees are hereby authorized to prepare, execute, and deliver any documents or take any steps necessary to purchase said property pursuant to the contact. SECTION 4: This Resolution is an exercise of the home rule authority of the Village of Morton Grove and is intended to and, to the fullest extent allowed by the constitution of the State of Illinois, shall be construed as to supersede any contrary or conflicting state, county, or local rule or regulation. SECTION 5: This Resolution shall be in full force and effect from and after its passage, approval and publication according to law. PASSED this 9`h day of May 2011. DD Trustee DiMaria DDL Trustee Gomberg Yfi Trustee Grear Trustee Marcus `s p/ Trustee Thill /• Yi _ 4 Trustee Toth y APPROVED by me this 9th day of May 2011. / `� 111 niel. . . ...A ann, Village President din Village o Morton Grove Cook County, Illinois APPROVED and FILED i• r y office . 's 10`° day of May 2011. , r /l • Tony S. Kalog;g os, Village Clerk Village of Morton Grove Cook County, Illinois • CONTRACT FOR THE PURCHASE OF 8533 CALLIE AVENUE, MORTON GROVE, ILLINOIS BETWEEN THE VILLAGE OF MORTON GROVE AND MS. M. KARLESKY The VILLAGE OF MORTON GROVE, a municipal corporation and a home rule unit of government located in Cook County, Illinois ("Village") hereby agrees to purchase and Jean Novak, Trustee, owner of record ("Seller"), hereby agrees to sell that property commonly known as 8533 Callie Avenue, Morton Grove, Illinois and legally described in Exhibit"A" and all improvements thereon ("the real estate") pursuant to the following terms and conditions: 1) PURCHASE PRICE: The Village shall pay Seller the sum of one hundred thirty-five thousand dollars ($135,000)to be paid as follows: A. Within two (2) business days of the execution and delivery of this Contract, the Village shall deposit with the Seller or its designated agent the sum of one thousand dollars ($1,000.00)as and for"Earnest Money". The earnest money shall be held pursuant to the terms and conditions of this Contract. B. Payment at Closing. The balance of the Purchase Price, as adjusted by agreed or customary credits and prorations including tax prorations, security deposits, and unpaid utilities shall be paid in good funds at Closing. 2) CLOSING: The Closing shall take place on or before May 23, 2011, at a location mutually agreed upon by the Village and the Seller. However, no closing proceeds shall be tendered to the Seller and no deeds shall be recorded until all tenants have vacated the premises. 3) CONTINGENCY PERIOD AND INSPECTIONS. A. The Seller shall make available to Village for Village's inspection, copies of any leases, security contracts, rent rolls, surveys, environmental reports, soils tests, maps and plats for the subject property no later than May 12, 2011. B. The Village and its agents may at any time through May 6, 2011 (the "Contingency Period")conduct, at Village's sole cost and expense and subject to the terms hereof, its "Inspection" of the Subject Property which may include without limitation physical inspections of the Subject Property, surveys, soils tests, site analyses, engineering studies, examinations of the building and improvements thereon (including structural and mechanical tests)environmental studies and investigations and appraisals. C. The Village may terminate this Contract for any reason prior to 5:00 PM on May 6, 2011, and in such event, the Earnest Money(and any interest earned thereon)shall be returned to Village. D. Seller represents and warrants there is no one occupying the building. E. Unless the Village has terminated the contract pursuant to 3C above, the Earnest Money shall become non-refundable at 5:00 PM on May 6, 2011, and shall be applied to the Purchase Price at the closing. 4) TAX PRORATIONS: At closing, Seller shall pay and prorate 2010 and 2011 real estate taxes at 150% of the 2011 taxes through the date of closing. The parties shall re-prorate said taxes upon ascertainment of that actual tax bill. 5) TITLE: At Seller's expense, Seller will deliver or cause to be delivered to the Village within five (5)days in advance of Closing, as evidence of tile in Seller, a title commitment for an ALTA title insurance policy in the amount of the Purchase Price with extended coverage by a title company mutually acceptable to the parties Contract for the Purchase of 8533 Callie Avenue Page 2 of 4 issued on or subsequent to the Date of Acceptance of this Contract, subject only to items listed in Paragraph 7. The parties shall each pay their respective usual and customary share of the additional title charges and the parties shall equally pay for any deed in money closing escrow incurred as a result of this transaction. If the title commitment discloses any exceptions not acceptable to the Village, then Seller shall have said exceptions or encroachments removed, or have the title insurer commit to insure against loss or damage that may be caused by such exceptions or encroachments. If Seller fails to have unpermitted exceptions waived or title insured over prior to Closing, Village may elect to take the title as it then is, with the right to deduct from the Purchase Price prior encumbrances of a definite or ascertainable amount as agreed by the parties. Seller shall furnish Village at Closing an Affidavit of Title covering the date of Closing, and shall sign any other customary forms required for issuance of an ALTA Insurance Policy. 6) SURVEY: Within seven days prior to closing, Seller shall furnish a staked ALTA survey dated within 90 days of closing showing all boundaries, rights of way, easements, and set back lines and evidencing that the property is free of all encroachments. 7) DEED: Seller shall convey or cause to be conveyed to the Village good and merchantable title to the Real Estate by recordable general Warranty Deed subject only to: general real estate taxes not due and payable at the time of Closing, covenants, conditions, and restrictions of record, building lines and easements, if any, so long as they do not interfere with the current use and enjoyment of the real estate. 8) POSSESSION: At closing, the Seller shall surrender the property. The property shall be in broom clean condition with all personal property removed. 9) SELLER REPRESENTATIONS: Seller represents that all leases and tenancies have been fully disclosed to Village and shall be terminated prior to the closing, that Seller has not received written notice from any Governmental body of(a) zoning, building, fire or health code violations that have not been corrected; (b) any pending rezoning; or(c) a proposed or confirmed special assessment and/or special service area affecting the Real Estate. Seller further represents that Seller has no knowledge of boundary line disputes, easements or claims of easement not shown by the public records, any hazardous waste on the Real Estate or any improvements for which the required permits were not obtained. 10) MAINTENANCE OF PROPERTY: Subject to paragraph 11, the property (including the building and the grounds) shall be maintained in the same condition as found on the date of the contract, normal wear and tear, excepted. 11) INTENTIONALLY DELETED 12) DEFAULT: Seller shall be responsible for all damages, reasonable costs and expenses including attorney's fees directly caused due to the failure of the Seller to comply with the terms of the purchase Contract. The Village shall be responsible for all damages, reasonable costs and expenses, including attorney's fees directly incurred by the Seller, in excess of any earnest money retained by Seller due the failure of the Village to comply with the terms of the purchase Contract. 13) NOTICE: All notices required shall be in writing and shall be delivered by personal delivery; by certified mail, return receipt requested which shall be effective on the date of mailing; or by sending facsimile transmission which shall be effective as of date and time of facsimile transmission, provided that the notice transmitted shall be sent on business days during business hours (9:00 A.M. to 5:00 P.M. Chicago time). In the event fax notice is transmitted during non-business hours, the effective date and time of notice is the first hour of the first business day after transmission. Notices to the Seller shall be mailed to Bernard Michna, 400 Central, Suite 230, Northfield, Illinois 60043. • Contract for the Purchase of 8533 CaIlie Avenue Page 3 of 4 Notices to the Village shall be mailed or faxed to Teresa Hoffman Liston, Corporation Counsel, 6101 Capulina Avenue, Morton Grove, Illinois 60053, fax 847-965-4162. 14) MISCELLANEOUS: A. Time is of the essence of this Contract. B. The Seller shall pay for all County, State and Municipal transfer taxes if any. C. All disputes related to the construction or enforcement of these terms and provisions shall be govemed by the laws of the State of Illinois and are subject to the covenant of good faith and fair dealing implied in all Illinois contracts. D. All fixtures, mechanical equipment and appliances within the real estate as of the date this Contract has been executed shall remain at the real estate and shall be transferred to the Village at closing in "AS IS" condition pursuant to a Bill of Sale. E. The terms of this contract and all related negotiations shall be kept confidential to the extent allowed by law. F. The parties agree to comply with the reporting requirements of the applicable section of the Internal Revenue Code and the Real Estate Settlement Procedures Act of 1974, as amended. This Contract has been executed as of May 9 , 2011 (the Contract date). THIS CONTRACT SHALL NOT BE BINDING UNTIL IT HAS BEEN APPROVED BY THE CORPORATE AUTHORITIES OF THE VILLAGE OF MORTON GROVE. "Seller" "Buyer" VILLAGE yr ,O' 4N ' RO E, ILLINOIS By: Q/1/4- /t By: A / Name: JOAN NOVAK Name: D; lel J. Staackmann Title: Owner / CO-TRUSTEE Title: Village President By: ante i Attest By: Name: LAVERNE CHARLES Name: Tony . Kalogerakos Title: Village Clerk Title: CO- RUSTEE • By Name: VIR NIA TORTORICE Title: CO-TRUSTEE Contract for the Purchase of 8533 CaIlie Avenue Page 4 of 4 Exhibit A Property Index Numbers: 10-20-113-015-0000 Description Lot forty two (42) in Block four (4) in Bingham and Fernald's Morton Grove Subdivision being Lot forty (40) in the County Clerk' s Division of Section twenty (20) and4the East half of the North East quarter of Section nineteen (19) , Township forty one (41) North , Range thirteen (13) , East of the Third Principal Meridian, (except a tract two hundred (200) feet North and South by one hundred eighteen and nine tenths (118.9) feet East and West at the South West corner of said Lot forty (40) . STATE OF ILLINOIS) ) SS COUNTY OF COOK ) 1. Tony S. Kalogerakos. Village Clerk for the Village of Morton Grove in the County of Cook. in the State of Illinois. do hereby certify that the following. hereinafter described. are true and correct copies of the original documents which are part of the records of my office as such Village Clerk: Resolution 11-23 Authorizing the Village of Morton Grove. to acquire property commonly known as 8533 Callie Avenue. Morton Grove. Illinois I hereby subscribe my name as Village Clerk and affix the Official Corporate Seal of the Village of Morton Grove. this 10°i day of May 2011. —rat TONY S. KALIF.R• OS. Village Clerk Legislative Summary Resolution 11-23 AUTHORIZING THE VILLAGE OF MORTON GROVE TO ACQUIRE PROPERTY COMMONLY KNOWN AS 8533 CALLIE AVENUE, MORTON GROVE, ILLLNOIS Introduced: May 9. 2011 Objective: To authorize the purchase of property commonly]mown as 8533 Callie Avenue which is adjacent to the Lehigh/Ferris 111 District. Purpose: This property will be land banked and used for a future public purpose. Background: The Village has acquired numerous pieces of property for possible future development from time-to-time. The property located at 8533 Callie Avenue, immediately north of Fire Station No. 4,recently became available for purchase. As requested by the Village Board. Village staff has negotiated a contract with the owner for Village Board approval. The terms of the contract include: 1. The Purchase Price 5135.000: 2. Closine on or before May 31. 2011. Funds for the purchase and acquisition of this property are contained in the 2011 Budget. Programs, Departments Finance Department, Village Administrator, Legal Department, Community and or Groups Affected: Economic Development Fiscal Impact: 5135,000 Source of Funds: Funds have been budgeted for in the 2011 Budget. Workload Impact: ', Corporation Counsel will handle the closing of this transaction as part of her normal workload. Administrator Approval as presented. Recommendation: Second Reading: Not Required Special Considerations or None Requirements: n , 4Administrator Approval (c". �Lelt J ephh F. ',aft Village Administrator Prepared by: /:-- 2 -., Teresa Hoffman Lastot, Corporation Counsel RESOLUTION 11-23 AUTHORIZING THE VILLAGE OF MORTON GROVE TO ACQUIRE PROPERTY COMMONLY KNOWN AS 8533 CALLIE AVENUE, MORTON GROVE. ILLINOIS WHEREAS. the Village of Morton Grove(VILLAGE), located in Cook County,Illinois, is a home rule unit of government under the provisions of Article 7 of the 1970 Constitution of the State of Illinois, can exercise any power and perform any function pertaining to its government affairs, including but not limited to the power to tax and incur debt and WHEREAS, the property commonly known as 8533 Callie Avenue, Morton Grove, Illinois 60053 is adjacent to the Lehigh/Ferris TIF Redevelopment District; and WHEREAS, to date, as part of the Lehigh/Ferris Redevelopment Plan, the Village has acquired and land banked certain properties to further the goals of the Redevelopment Plan; and WHEREAS, it is in the best interest of the Village of Morton Grove to acquire the property commonly known as 8533 Callie Avenue, Morton Grove, Illinois 60053 to be used as stated above; and WHEREAS, the Village, in its 2011 budget. appropriated sufficient funds for the purchase and acquisition of certain properties; and WHEREAS, the cost to acquire this property shall be paid from the Village's Lehigh/Ferris TIE Fund; and WHEREAS, Village staff and the owner of the property have negotiated a contract for the purchase of the property subject to the approval of the Village Board of Trustees; and WHEREAS, the terms of the contract include: 1. The Purchase Price$135,000; 2. Closing on or before May 31. 2011. NOW, THEREFORE BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MORTON GROVE, COOK COUNTY, ILLLNOIS AS FOLLOWS: SECTION 1: The Corporate Authorities do hereby incorporate the foregoing WHEREAS clauses into this Resolution as though fully set forth herein thereby making the findings as hereinabove set forth. SECTION 2: The Village President and Village Clerk of the Village of Morton Grove are hereby authorized to execute a contract between the Village and the owner of record for the purchase of property commonly known as 8533 Callie Avenue, Morton Grove, Illinois for the sum of$135,000 with a closing to occur on or about May 31, 2011, with additional terms and conditions in substantial conformity with Exhibit`A". SECTION 3: The Village Administrator, Corporation Counsel andior their designees are hereby authorized to prepare, execute, and deliver any documents or take any steps necessary to purchase said property pursuant to the contract. SECTION 4: This Resolution is an exercise of the home rule authority of the Village of Morton Grove and is intended to and, to the fullest extent allowed by the constitution of the State of Illinois, shall be construed as to supersede any contrary or conflicting state, county, or local rule or regulation. SECTION 5: This Resolution shall be in null force and effect from and after its passage, approval and publication according to law. PASSED this 9th day of May 2011. Trustee DiMaria e Trustee Gomberg e- Trustee Grear I Trustee Marcus `n4 / Trustee Thill A Y p Trustee Toth ALL / APPROVED by me this 9th day of May 2011. � Daniel I. ., ..:��Village President Village o ,Morton Grove Cook County, Illinois APPROVED and FILED i- r v office .i's 10`" day of May 2011. I. // Tony S. Kalogos, Village Clerk Village of Motion Grove Cook County. Illinois CONTRACT FOR THE PURCHASE OF 8533 CALLIE AVENUE, MORTON GROVE, ILLINOIS BETWEEN THE VILLAGE OF MORTON GROVE AND MS. M. KARLESKY The VILLAGE OF MORTON GROVE, a municipal corporation and a home rule unit of government located in Cook County, Illinois ("Village") hereby agrees to purchase and Jean Novak, Trustee, owner of record ("Seller"), hereby agrees to sell that property commonly known as 8533 Callie Avenue, Morton Grove, Illinois and legally described in Exhibit "A" and all improvements thereon ("the real estate") pursuant to the following terms and conditions: 1) PURCHASE PRICE: The Village shall pay Seller the sum of one hundred thirty-five thousand dollars ($135,000)to be paid as follows: A. Within two (2) business days of the execution and delivery of this Contract, the Village shall deposit with the Seller or its designated agent the sum of one thousand dollars ($1,000.00)as and for"Earnest Money". The earnest money shall be held pursuant to the terms and conditions of this Contract. B. Payment at Closing. The balance of the Purchase Price, as adjusted by agreed or customary credits and prorations including tax prorations, security deposits, and unpaid utilities shall be paid in good funds at Closing. 2) CLOSING: The Closing shall take place on or before May 23, 2011, at a location mutually agreed upon by the Village and the Seller. However, no closing proceeds shall be tendered to the Seller and no deeds shall be recorded until all tenants have vacated the premises. 3) CONTINGENCY PERIOD AND INSPECTIONS. A. The Seller shall make available to Village for Village's inspection, copies of any leases, security contracts, rent rolls, surveys, environmental reports, soils tests, maps and plats for the subject property no later than May 12, 2011. B. The Village and its agents may at any time through May 6, 2011 (the "Contingency Period")conduct, at Village's sole cost and expense and subject to the terms hereof, its "Inspection" of the Subject Property which may include without limitation physical inspections of the Subject Property, surveys, soils tests, site analyses, engineering studies, examinations of the building and improvements thereon (including structural and mechanical tests)environmental studies and investigations and appraisals. C. The Village may terminate this Contract for any reason prior to 5:00 PM on May 6, 2011, and in such event, the Earnest Money (and any interest earned thereon)shall be returned to Village. D. Seller represents and warrants there is no one occupying the building. E. Unless the Village has terminated the contract pursuant to 3C above, the Earnest Money shall become non-refundable at 5:00 PM on May 6, 2011, and shall be applied to the Purchase Price at the closing. 4) TAX PRORATIONS: At closing, Seller shall pay and prorate 2010 and 2011 real estate taxes at 150% of the 2011 taxes through the date of closing. The parties shall re-prorate said taxes upon ascertainment of that actual tax bill. 5) TITLE: At Seller's expense, Seller will deliver or cause to be delivered to the Village within five (5)days in advance of Closing, as evidence of tile in Seller, a title commitment for an ALTA title insurance policy in the amount of the Purchase Price with extended coverage by a title company mutually acceptable to the parties Contract for the Purchase of 8533 Callie Avenue Page 2 of 4 issued on or subsequent to the Date of Acceptance of this Contract, subject only to items listed in Paragraph 7. The parties shall each pay their respective usual and customary share of the additional title charges and the parties shall equally pay for any deed in money closing escrow incurred as a result of this transaction. If the title commitment discloses any exceptions not acceptable to the Village, then Seller shall have said exceptions or encroachments removed, or have the title insurer commit to insure against loss or damage that may be caused by such exceptions or encroachments. If Seller fails to have unpermitted exceptions waived or title insured over prior to Closing, Village may elect to take the title as it then is, with the right to deduct from the Purchase Price prior encumbrances of a definite or ascertainable amount as agreed by the parties. Seller shall furnish Village at Closing an Affidavit of Title covering the date of Closing, and shall sign any other customary forms required for issuance of an ALTA Insurance Policy. 6) SURVEY: Within seven days prior to closing, Seller shall furnish a staked ALTA survey dated within 90 days of closing showing all boundaries, rights of way, easements, and set back lines and evidencing that the property is free of all encroachments. 7) DEED: Seller shall convey or cause to be conveyed to the Village good and merchantable title to the Real Estate by recordable general Warranty Deed subject only to: general real estate taxes not due and payable at the time of Closing, covenants, conditions, and restrictions of record, building lines and easements, if any, so long as they do not interfere with the current use and enjoyment of the real estate. 8) POSSESSION: At closing, the Seller shall surrender the property. The property shall be in broom clean condition with all personal property removed. 9) SELLER REPRESENTATIONS: Seller represents that all leases and tenancies have been fully disclosed to Village and shall be terminated prior to the closing, that Seller has not received written notice from any Governmental body of(a) zoning, building, fire or health code violations that have not been corrected; (b) any pending rezoning; or(c) a proposed or confirmed special assessment and/or special service area affecting the Real Estate. Seller further represents that Seller has no knowledge of boundary line disputes, easements or claims of easement not shown by the public records, any hazardous waste on the Real Estate or any improvements for which the required permits were not obtained. 10) MAINTENANCE OF PROPERTY: Subject to paragraph 11, the property(including the building and the grounds) shall be maintained in the same condition as found on the date of the contract, normal wear and tear, excepted. 11) INTENTIONALLY DELETED 12) DEFAULT: Seller shall be responsible for all damages, reasonable costs and expenses including attorney's fees directly caused due to the failure of the Seller to comply with the terms of the purchase Contract. The Village shall be responsible for all damages, reasonable costs and expenses, including attorney's fees directly incurred by the Seller, in excess of any earnest money retained by Seller due the failure of the Village to comply with the terms of the purchase Contract. 13) NOTICE: All notices required shall be in writing and shall be delivered by personal delivery; by certified mail, return receipt requested which shall be effective on the date of mailing; or by sending facsimile transmission which shall be effective as of date and time of facsimile transmission, provided that the notice transmitted shall be sent on business days during business hours (9:00 A.M. to 5:00 P.M. Chicago time). In the event fax notice is transmitted during non-business hours, the effective date and time of notice is the first hour of the first business day after transmission. Notices to the Seller shall be mailed to Bernard Michna, 400 Central, Suite 230, Northfield, Illinois 60043. Contract for the Purchase of 8533 Callie Avenue Page 3 of 4 Notices to the Village shall be mailed or faxed to Teresa Hoffman Liston, Corporation Counsel, 6101 Capulina Avenue, Morton Grove, Illinois 60053, fax 847-965-4162. 14) MISCELLANEOUS: A. Time is of the essence of this Contract. B. The Seller shall pay for all County, State and Municipal transfer taxes if any. C. All disputes related to the construction or enforcement of these terms and provisions shall be governed by the laws of the State of Illinois and are subject to the covenant of good faith and fair dealing implied in all Illinois contracts. D. All fixtures, mechanical equipment and appliances within the real estate as of the date this Contract has been executed shall remain at the real estate and shall be transferred to the Village at closing in "AS IS" condition pursuant to a Bill of Sale. E. The terms of this contract and all related negotiations shall be kept confidential to the extent allowed by law. F. The parties agree to comply with the reporting requirements of the applicable section of the Internal Revenue Code and the Real Estate Settlement Procedures Act of 1974, as amended. This Contract has been executed as of May' 9, 2011 , 2011 (the Contract date). THIS CONTRACT SHALL NOT BE BINDING UNTIL IT HAS BEEN APPROVED BY THE CORPORATE AUTHORITIES OF THE VILLAGE OF MORTON GROVE. "Seller" "Buyer" "� VILLAGE 0 OR,/, GR• E, ILLINOIS By: �2LeVX B y: 1 ii Name: SEAN NOVAK Name: Daniel J. Staackmann Title: Owner / CO-TRUSTEE Title: Village President By: ((fib/ C��7 LGCLd. �l / Attest By: At/‘ i Name: Tony S. Kalogerakos Name: LAVERNE CHARLES Title: Village Clerk Title: CO-TRUSTEE - By: i%4/� I/. .rte, Name: VIR 7 IA TORTORICE Title: CO-TRUSTEE Contract for the Purchase of 8533 Callie Avenue Page 4 of 4 Exhibit A Property Index Numbers: 10-20-113-015-0000 Description Lot forty two (42) in Block four (4) in Bingham and Fernald's Morton Grove Subdivision being Lot forty (40) in the County Clerk' s Division of Section twenty (20) and , the East half of the North East quarter of Section nineteen (19) , Township forty one (41) North, Range thirteen (13) , East of the Third Principal Meridian, (except a tract two hundred (200) feet North and South by one hundred eighteen and nine tenths ( 118.9) feet East and West at the South West corner of said Lot forty (40) . • STATE OF ILLINOIS) ) SS COUNTY OF COOK ) I. Tony S. Kalogerakos. Village Clerk for the Village of Morton Grove in the County of Cook. in the State of Illinois. do hereby certify that the following. hereinafter described. are true and correct copies of the original documents which are part of the records of my office as such Village Clerk: Resolution 11-23 Authorizing the Village of Morton Grove.to acquire property commonly known as 8533 Callie Avenue. Morton Grove. Illinois I hereby subscribe my name as Village Clerk and affix the Official Corporate Seal of the Village of Morton Grove. this 10th day of May 2011. TONY S. KACO?'R KOS. Village Clerk • Legislative Summary Resolution 11-23 • AUTHORIZING THE VILLAGE OF MORTON GROVE TO ACQUIRE PROPERTY COMMONLY KNOWN AS 8533 CALLIE AVENUE, MORTON GROVE, ILLINOIS Introduced: May 9, 2011 Objective: To authorize the purchase of property commonly known as 8533 Callie Avenue which is adjacent to the Lehigh/Ferris TIF District. Purpose: This property will be land banked and used for a future public purpose. Background: The Village has acquired numerous pieces of property for possible future development from time-to-time. The property located at 8533 CalIie Avenue, immediately north of Fire Station No. 4,recently became available for purchase. As requested by the Village Board, Village staff has negotiated a contract with the owner for Village Board approval. The terms of the contract include: 1. The Purchase Price 5135,000: 2. Closing on or before May 31, 2011. Funds for the purchase and acquisition of this property are contained in the 2011 Budget. Programs, Departments Finance Depat uuent,Village Administrator, Legal Depatuuent, Community and or Groups Affected: ! Economic Development Fiscal Impact: 5135.000 Source of Funds: Funds have been budgeted for in the 2011 Budget. Workload Impact: Corporation Counsel will handle the closing of this transaction as part of her normal workload. Administrator Approval as presented. Recommendation: Second Reading: Not Required Special Considerations or None Requirements: 4 ' c' Administrator Approval /t ( , �C�a� jpkieph F. rade, Village Administrator Prepared by: / , , ` Teresa Hoffman Liston, Corporation Counsel RESOLUTION 11-23 AUTHORIZING THE VILLAGE OF MORTON GROVE TO ACQUIRE PROPERTY COMMONLY KNOWN AS 8533 CALLIE AVENUE, MORTON GROVE, ILLINOIS WHEREAS.the Village of Morton Grove(VILLAGE), located in Cook County, Illinois, is a home rule unit of government under the provisions of Article 7 of the 1970 Constitution of the State of Illinois, can exercise any power and perform any function pertaining to its government affairs, including but not limited to the power to tax and incur debt; and WHEREAS, the property commonly known as 8533 CalIie Avenue, Morton Grove, Illinois 60053 is adjacent to the Lehigh/Ferris TIF Redevelopment District; and WHEREAS, to date, as part of the Lehigh/Ferris Redevelopment Plan, the Village has acquired and land banked certain properties to further the goals of the Redevelopment Plan; and WHEREAS, it is in the best interest of the Village of Morton Grove to acquire the property commonly known as 8533 Callie Avenue, Morton Grove. Illinois 60053 to be used as stated above; and WHEREAS, the Village, in its 2011 budget. appropriated sufficient funds for the purchase and acquisition of certain properties; and WHEREAS, the cost to acquire this property shall be paid from the Village's Lehigh/Ferris TIF Fund; and WHEREAS, Village staff and the owner of the property have negotiated a contract for the purchase of the property subject to the approval of the Village Board of Trustees; and WHEREAS, the terms of the contract include: 1. The Purchase Price S135,000; 2. Closing on or before May 31,2011. NOW, THEREFORE BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF MORTON GROVE, COOK COUNTY, ILLINOIS AS FOLLOWS: SECTION 1; The Corporate Authorities do hereby incorporate the foregoing WHEREAS clauses into this Resolution as though fully set forth herein thereby making the findings as hereinabove set forth. SECTION 2: The Village President and Village Clerk of the Village of Morton Grove are hereby authorized to execute a contract between the Village and the owner of record for the purchase of property commonly known as 8533 Callie Avenue. Morton Grove, Illinois for the sum of 5135.000 with a closing to occur on or about May 31, 2011, with additional terms and conditions in substantial conformity with Exhibit "A". SECTION 3: The Village Administrator, Corporation Counsel andior their designees are hereby authorized to prepare, execute, and deliver any documents or take any steps necessary to purchase said property pursuant to the contract. SECTION 4: This Resolution is an exercise of the home rule authority of the Village of Morton Grove and is intended to and, to the fullest extent allowed by the constitution of the State of Illinois, shall be construed as to supersede any contrary or conflicting state, county, or local rule or regulation. SECTION 5: This Resolution shall be in full force and effect from and after its passage, approval and publication according to law. PASSED this 9th day of May 2011. pp Trustee DiMaria /L Trustee Gomberg vCi Trustee Grear , `� Trustee Marcus `tr / Trustee Thill • K p. Trustee Toth —k/. APPROVED by me this 9th day of May 2011. // / ;' / , . J %f/ •aniel J. ann, a • � ••.y Village President Village o' Morton Grove Cook County, Illinois APPROVED and FILED i• r y office . 's 10th day of May 2011. ; it. • • Tony S. Kaloayos, Village Clerk Village of Morton Grove Cook County, Illinois CONTRACT FOR THE PURCHASE OF 8533 CALLIE AVENUE, MORTON GROVE, ILLINOIS BETWEEN THE VILLAGE OF MORTON GROVE AND MS. M. KARLESKY The VILLAGE OF MORTON GROVE, a municipal corporation and a home rule unit of government located in Cook County, Illinois ("Village") hereby agrees to purchase and Jean Novak, Trustee, owner of record ("Seller"), hereby agrees to sell that property commonly known as 8533 Callie Avenue, Morton Grove, Illinois and legally described in Exhibit "A" and all improvements thereon ("the real estate") pursuant to the following terms and conditions: 1) PURCHASE PRICE: The Village shall pay Seller the sum of one hundred thirty-five thousand dollars ($135,000)to be paid as follows: A. Within two (2) business days of the execution and delivery of this Contract, the Village shall deposit with the Seller or its designated agent the sum of one thousand dollars ($1,000.00)as and for"Earnest Money'. The earnest money shall be held pursuant to the terms and conditions of this Contract. B. Payment at Closing. The balance of the Purchase Price, as adjusted by agreed or customary credits and prorations including tax prorations, security deposits, and unpaid utilities shall be paid in good funds at Closing. 2) CLOSING: The Closing shall take place on or before May 23, 2011, at a location mutually agreed upon by the Village and the Seller. However, no closing proceeds shall be tendered to the Seller and no deeds shall be recorded until all tenants have vacated the premises. 3) CONTINGENCY PERIOD AND INSPECTIONS. A. The Seller shall make available to Village for Village's inspection, copies of any leases, security contracts, rent rolls, surveys, environmental reports, soils tests, maps and plats for the subject property no later than May 12, 2011. B. The Village and its agents may at any time through May 6, 2011 (the "Contingency Period")conduct, at Village's sole cost and expense and subject to the terms hereof, its "Inspection" of the Subject Property which may include without limitation physical inspections of the Subject Property, surveys, soils tests, site analyses, engineering studies, examinations of the building and improvements thereon (including structural and mechanical tests) environmental studies and investigations and appraisals. C. The Village may terminate this Contract for any reason prior to 5:00 PM on May 6, 2011, and in such event, the Eamest Money (and any interest eamed thereon) shall be returned to Village. D. Seller represents and warrants there is no one occupying the building. E. Unless the Village has terminated the contract pursuant to 3C above, the Eamest Money shall become non-refundable at 5:00 PM on May 6, 2011, and shall be applied to the Purchase Price at the closing. 4) TAX PRORATIONS: At closing, Seller shall pay and prorate 2010 and 2011 real estate taxes at 150% of the 2011 taxes through the date of closing. The parties shall re-prorate said taxes upon ascertainment of that actual tax bill. 5) TITLE: At Seller's expense, Seller will deliver or cause to be delivered to the Village within five (5)days in advance of Closing, as evidence of tile in Seller, a title commitment for an ALTA title insurance policy in the amount of the Purchase Price with extended coverage by a title company mutually acceptable to the parties Contract for the Purchase of 8533 Callie Avenue Page 2 of 4 issued on or subsequent to the Date of Acceptance of this Contract, subject only to items listed in Paragraph 7. The parties shall each pay their respective usual and customary share of the additional title charges and the parties shall equally pay for any deed in money closing escrow incurred as a result of this transaction. If the title commitment discloses any exceptions not acceptable to the Village, then Seller shall have said exceptions or encroachments removed, or have the title insurer commit to insure against loss or damage that may be caused by such exceptions or encroachments. If Seller fails to have unpermitted exceptions waived or title insured over prior to Closing, Village may elect to take the title as it then is, with the right to deduct from the Purchase Price prior encumbrances of a definite or ascertainable amount as agreed by the parties. Seller shall furnish Village at Closing an Affidavit of Title covering the date of Closing, and shall sign any other customary forms required for issuance of an ALTA Insurance Policy. 6) SURVEY: Within seven days prior to closing, Seller shall furnish a staked ALTA survey dated within 90 days of closing showing all boundaries, rights of way, easements, and set back lines and evidencing that the property is free of all encroachments. 7) DEED: Seller shall convey or cause to be conveyed to the Village good and merchantable title to the Real Estate by recordable general Warranty Deed subject only to: general real estate taxes not due and payable at the time of Closing, covenants, conditions, and restrictions of record, building lines and easements, if any, so long as they do not interfere with the current use and enjoyment of the real estate. 8) POSSESSION: At closing, the Seller shall surrender the property. The property shall be in broom clean condition with all personal property removed. 9) SELLER REPRESENTATIONS: Seller represents that all leases and tenancies have been fully disclosed to Village and shall be terminated prior to the closing, that Seller has not received written notice from any Governmental body of(a) zoning, building, fire or health code violations that have not been corrected; (b) any pending rezoning; or(c) a proposed or confirmed special assessment and/or special service area affecting the Real Estate. Seller further represents that Seller has no knowledge of boundary line disputes, easements or claims of easement not shown by the public records, any hazardous waste on the Real Estate or any improvements for which the required permits were not obtained. 10) MAINTENANCE OF PROPERTY: Subject to paragraph 11, the property (including the building and the grounds) shall be maintained in the same condition as found on the date of the contract, normal wear and tear, excepted. 11) INTENTIONALLY DELETED 12) DEFAULT: Seller shall be responsible for all damages, reasonable costs and expenses including attorney's fees directly caused due to the failure of the Seller to comply with the terms of the purchase Contract. The Village shall be responsible for all damages, reasonable costs and expenses, including attorney's fees directly incurred by the Seller, in excess of any earnest money retained by Seller due the failure of the Village to comply with the terms of the purchase Contract. 13) NOTICE: All notices required shall be in writing and shall be delivered by personal delivery; by certified mail, return receipt requested which shall be effective on the date of mailing; or by sending facsimile transmission which shall be effective as of date and time of facsimile transmission, provided that the notice transmitted shall be sent on business days during business hours (9:00 A.M. to 5:00 P.M. Chicago time). In the event fax notice is transmitted during non-business hours, the effective date and time of notice is the first hour of the first business day after transmission. Notices to the Seller shall be mailed to Bernard Michna, 400 Central, Suite 230, Northfield, Illinois 60043. Contract for the Purchase of 8533 Callie Avenue Page 3 of 4 Notices to the Village shall be mailed or faxed to Teresa Hoffman Liston, Corporation Counsel, 6101 Capulina Avenue, Morton Grove, Illinois 60053, fax 847-965-4162. 14) MISCELLANEOUS: A. Time is of the essence of this Contract. B. The Seller shall pay for all County, State and Municipal transfer taxes if any. C. All disputes related to the construction or enforcement of these terms and provisions shall be governed by the laws of the State of Illinois and are subject to the covenant of good faith and fair dealing implied in all Illinois contracts. D. All fixtures, mechanical equipment and appliances within the real estate as of the date this Contract has been executed shall remain at the real estate and shall be transferred to the Village at closing in "AS IS" condition pursuant to a Bill of Sale. E. The terms of this contract and all related negotiations shall be kept confidential to the extent allowed by law. F. The parties agree to comply with the reporting requirements of the applicable section of the Internal Revenue Code and the Real Estate Settlement Procedures Act of 1974, as amended. This Contract has been executed as of May 9 , 2011 (the Contract date). THIS CONTRACT SHALL NOT BE BINDING UNTIL IT HAS BEEN APPROVED BY THE CORPORATE AUTHORITIES OF THE VILLAGE OF MORTON GROVE. "Seller" `Buyer" XXXXXXXXXXXXXXYXXXYXXXCU VILLAGE$ MO- .0 R E, ILLINOIS By: ��U�'� By: Name: J NOVAK Name: 'aniel J. Staackmann Title: Owner / CO-TRUSTEE Title: Villa•e Presided . Yll // Attest By: By: agilaiee..1 Name: Tod :Si alo+et'akos '.'- 'r51 Name: LAVERNE CHARLES Title: �i.&Clerk``'.. ril - _ . Title: CO-TRUSTEE iNr '. 777 By: . _4( Name: VIRG •A TORTORICE Title: CO-TRUSTEE Contract for the Purchase of 8533 CaIlie Avenue Page 4 of 4 Exhibit A Property Index Numbers: 10-20-113-015-0000 Description Lot forty two (42) in Block four (4) in Bingham and Fernald's Morton Grove Subdivision being Lot forty (40) in the County Clerk ' s Division of Section twenty (20) and , the East half of the North East quarter of Section nineteen (19), Township forty one (41) North , Range thirteen (13) , East of the Third Principal Meridian, (except a tract two hundred (200) feet North and South by one hundred eighteen and nine tenths (118.9) feet East and West at the South West corner of said Lot forty (40) . CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY ALTA Commitment Form SCHEDULE A File No.: 11879CL Commitment No.: 11879CL 1. Effective Date: APRIL 26, 2011 2. Policy or Policies to be issued: (a) ALTA 2006 Owners Policy X Amount: $135,000.00 Proposed Insured: VILLAGE OF MORTON GROVE, a municipal corporation (b) ALTA 2006 Loan Policy Amount: $0.00 Proposed Insured: NONE 3. The estate or interest in the land described or referred to in this Commitment and covered herein is a Fee Simple and title to said land is at the date hereof vested in: LAVERNE CHARLES, VIRGINIA TORTORICE and JEAN NOVAK, AS SUCCESSOR CO-TRUSTEES OF THE 8533 CALLIE AVENUE LAND TRUST DATED JULY 17, 2010 4. The Land referred to herein is described on the attached Exhibit "A". Address of Property (For identification purposes only): 8533 CALLIE AVE, MORTON GROVE, IL 60053 Countersigned: Cambridge Title Company/Authorized Signatory Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847) 446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY ALTA Commitment Form SCHEDULE B-1 REQUIREMENTS Commitment No.: 11879CL The following are the requirements to be complied with: A. Payment of the full consideration to, or for the account of, the grantors or mortgagors or the estate or interest to be insured. B. Recordation or registration of duly executed and delivered instruments sufficient to create the estate or interest to be insured. C. The Company reserves the right to raise any such additional exceptions and/or requirements as it deems necessary upon receipt of the details of the transaction and its review of the closing documents. II. Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company: A. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the Effective Date but prior to the date the proposed Insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment. B. Rights or claims of parties in possession not shown by the public records. C. Easements, or claims of easements, not shown by the public records. D. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the title that would be disclosed by an accurate and complete land survey of the Land. E. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records. CAMBRIDGE Intl I Nags; oys Data i Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847) 446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY ALTA Commitment Form SCHEDULE B-2 EXCEPTIONS Commitment No.: 11879CL 1. The lien of taxes for the year 2010 and thereafter. Permanent Index Number: 10-20-113-015-0000 First Installment 2010 taxes $414.98 PAID Second Installment 2010 taxes $ NOT YET DUE OR PAYABLE CAMBRIDGE TIT - 90MPANY No(s; Mane ' —WI NOTE: ALL PRIOR TAXES ARE PAID IN FULL. 2. NOTE: The policy to be issued contains an arbitration clause. Any matter in dispute between you and the Company may be subject to arbitration as an alternative to court action. Upon request, the Company will provide a copy of this clause and the accompanying arbitration rules prior to the closing of the transaction. Any decision reached by arbitration shall be binding upon both you and the Company. The arbitration award may include attorney's fees, if allowed by state law, and may be entered as a judgment in any court of proper jurisdiction. 3. NOTE: THE TERMS AND PROVISIONS OF THE ALTA 2006 COMMITMENT JACKET ARE INCORPORATED HEREIN AND THE COMMITMENT JACKET IS AVAILABLE UPON REQUEST. 4. FOR ALL ILLINOIS PROPERTY: Effective June 1, 2009, pursuant to Public Act 95-988, satisfactory evidence of identification must be presented for the notarization of any and all documents notarized by an Illinois Notary Public. Unit July 1, 2013, satisfactory identification documents are documents that are valid at the time of the notarial act; are issued by a state or federal government agency; bear the photographic image of the individual's face; and bear the individual's signature. 5. PURSUANT TO THE ILLINOIS GOOD FUNDS LAW (215 ILCS 155/26) EFFECTIVE JANUARY 1, 2010, IN CONNECTION WITH ANY ESCROWS, SETTLEMENTS OR CLOSINGS OUT OF A FIDUCIARY TRUST ACCOUNT OR ACCOUNTS WE WILL ACCEPT FUNDS IN THE AGGREGATE FROM ANY SINGLE PARTY TO THE TRANSACTION IN THE FOLLOWING FORMS: A. LESS THAN $50,000.00: CASHIER'S CHECKS, CERTIFIED CHECKS, BANK MONEY ORDERS, OFFICIAL BANK CHECKS, WIRED FUNDS, TITLE COMPANY CHECK, STATE OF ILLINOIS, LOCAL GOVERNMENT OR U.S. GOVERNMENT CHECK OR "COLLECTED FUNDS" Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY AS THAT TERM IS DEFINED BELOW. B. $50,000.00 AND ABOVE: WIRED FUNDS, TITLE COMPANY CHECK, STATE OF ILLINOIS, LOCAL GOVERNMENT OR U.S. GOVERNMENT CHECK OR "COLLECTED FUNDS" AS THAT TERM IS DEFINED BELOW: "COLLECTED FUNDS" MEANS FUNDS DEPOSITED, FINALLY SETTLED AND CREDITED TO THE TITLE COMPANY OR TITLE INSURANCE AGENT FIDUCIARY TRUST ACCOUNT. THE TITLE INSURANCE COMPANY, TITLE INSURANCE AGENT, OR INDEPENDENT ESCROWEE SHALL MAKE THE FINAL DETERMINATION AS TO WHETHER FUNDS TENDERED IN ANY OTHER FORM WILL BE ACCEPTED. 6. NOTE: NOT OPEN MORTGAGE OF RECORD FOUND 7. FOR INFORMATIONAL PURPOSES: Effective July 1, 2008, 765 ILSC 77/70 will become effective for all properties located in Cook County. Any mortgage recorded on or after July 1st, 2008 within Cook County will require a Certificate of Compliance or an Exempt Certificate issued from the State of Illinois Anti-Predatory Lending Database. ***Effective July 1st, 2010 any mortgage recorded on or after July 1st, 2010 within Will, Kane or Peoria Counties will require a Certificate of Compliance or Exempt Certificate issued from the State of Illinois Anti-Predatory Lending Database.*** 8. FOR COOK COUNTY PROPERTY: Effective June 1, 2009, if any document of conveyance for Cook County residential real estate property is to be notarized by an Illinois Notary Public, Public Act 95-988 requires the completion of a notarial record for each grantor whose signature is notarized. The notarial record will include the thumbprint or fingerprint of the grantor. The grantor must present identification documents that are valid; are issued by State or Federal government agency; bear the photographic image of the individual's face; and bear the individual's signature. The company will charge $25.00 per notarial record. 9. Pursuant to the tax reform act of 1986, Title 1, Subtitle C, Section 1521, the settlement agent is required to report real estate transactions. Relative thereto, we note the following and require: A. We must be furnished at closing the tax identification numbers of the recipients of any or all of the net proceeds of the transaction. B. Failure to comply with the regulation will result in a 20 percent holdback to be deposited with the Internal Revenue Service pursuant to the aforesaid act. 10. Pursuant to Illinois Revised Statutes Chapter 73, New Paragraph 466B in the event our information reveals a state lien and/or judgment for which we do not receive either a satisfaction or payoff letter at closing, the closing of this transaction may be cancelled. 11. Terms, powers and provisions of the trust under which title to the land is held. 12. Subject to the Village of Morton Grove Ordinance 87-51 imposing a real estate transfer tax of$3.00 per $1,000.00 upon the Seller. END OF SCHEDULE B CAMBRIDGE No(q ag - N+- Dna Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 CAMBRIDGE TITLE COMPANY Policy Issuing Agent For COMMONWEALTH LAND TITLE INSURANCE COMPANY ALTA Commitment Form EXHIBIT A Commitment No.: 11879CL LEGAL DESCRIPTION LOT FORTY TWO (42) IN BLOCK FOUR (4) IN BINGHAM AND FERNALD'S MORTON GROVE SUBDIVISION BEING LOT FORTY (40) IN THE COUNTY CLERKS DIVISION OF SECTION TWENTY (20) AND THE EAST HALF OF THE NORTH EAST QUARTER OF SECTION NINETEEN (19), TOWNSHIP FORTY ONE (41) NORTH, RANGE THIRTEEN (13), EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT A TRACT TWO HUNDRED (200) FEET NORTH AND SOUTH BY ONE HUNDRED EIGHTEEN AND NINE TENTHS (118.9) FEET EAST AND WEST AT THE SOUTH WEST CORNER OF SAID LOT FORTY(40). Commonly known as: 8533 CALLIE AVE, MORTON GROVE, IL 60053 Permanent Index No.: 10-20-113-015-0000 Issuing Agent: Cambridge Title Company Address: 400 Central Avenue, Suite 230, Northfield, IL 60093 Telephone: (847)446-3000 A‘ A. Settlement Statement U.S.Department of Housing -ir and Urban Development OMB Approval No.2502-0265 I B.Type of Loan 1.0 FHA 2.11 RHS 3.0 Cony.Unins. 6.File Number 7.Loan Number B.Mortgage Insurance Case Number 14.❑VA 5.11 Conv.Ins. 11879CL I C.Note:This form is furnished to give you a statement of actual settlement costs.Amounts paid to and by the settlement agent are shown.Items 1, 1 marked'(p.o.c.)-were paid outside the closing;they are shown here for information purposes and are not included in the totals. D.Name and Address of Borrower 1 E.Name and Address of Seller I F.Name and Address of Lender 11 VILLAGE OF MORTON GROVE I 8533 CALLIE AVENUE LAND TRUST DTD 1 6101 CAPULINA AVE • 7-17-10 • I MORTON GROVE,IL 60053 8533 CALLIE AVE 1 MORTON GROVE.IL 60053 1 , I G.Property Location I H.Settlement Agent I 8533 CALLIE AVE CAMBRIDGE TITLE COMPANY � I. I MORTON GROVE,IL 60053 1 Place of Settlement I.Settlement Date 400 CENTRAL AVENUE.SUITE 210 05/25/11 NORTHFIELD,IL 600931. DD: 05/25/11 1,• J.SUMMARY OF BORROWER'S TRANSACTION: K.SUMMARY OF SELLER'S TRANSACTION: I 1 100.GROSS AMOUNT DUE FROM BORROWER 400.GROSS AMOUNT DUE TO SELLER 101.Contract sales price 135,000 00 1 401.Contract sales price 135,000.00 102.Personal property 02.Personal property ' 103.Settlement charges to borrower(line 1400) 575.00 40$. 1 104. I ..------..464. 105. i 405. Adjustments for Items paid by seller in advance Adjustments for items paid by seller In advance 106.City/town taxes to 1 1 406.City/town taxes to I 107.County taxes to 1407.County taxes to I 108.Assessments to i 408.Assessments to 109. 1409. 110. 1 410. 111. ;411. i 1 1 112. '412. 120.GROSS AMOUNT DUE FROM BORROWER I 135.575.00420.GROSS AMOUNT DUE TO SELLER 135,000.00 200.AMOUNTS PAID BY OR IN BEHALF OF BORROWER 500.REDUCTIONS IN AMOUNT TO SELLER 201.Deposit or earnest money 1 501.Excess Deposit(see instructions) 202.Principal amount of new loan(s) i 502.Settlement charges to seller(line 1400) 5,718.00 1 203.Existing loan(s)taken subject to '503.Existing loans taken subject to 204. 504.Payoff of first mortgage loan i 1 205. 505 Payoff of second mortgage loan 206. 506. 207. 507. 208. 508. I 209. I 1509. l Adjustments for items unpaid by seller 1 Adjustments for items unpaid by seller i 210.City/town taxes to 1 510.City/town taxes to 211.County taxes 01/01 to 05/25 449.60 i 511.County taxes 01/01 to 05/25 I 449601 212.Assessments to 512.Assessments to 213. 1 513. 214.2010 2ND INST RE TAXES 716.77 j 514.2010 2ND INST RE TAXES 716.77 215. i 515. 216. i 516. 217. i 517. 218. I 1 518. 219. 1 519. I 11 220.TOTAL PAID BY/FOR BORROWER I 1.166.371 520.TOTAL REDUCTION AMOUNT DUE SELLER 6,884.37111 300.CASH AT SETTLEMENT FROM OR TO BORROWER •600.CASH AT SETTLEMENT TO OR FROM SELLER 301.Gross amount due from borrower(line 120) 135575.00 j 601.Gross amount due to seller(line 420) 135,000.00 1 302.Less amounts paid by/for borrower(line 220) , 1,166.37 602.Less reduction amount due to seller(line 520) 6,884.37 1303.CASH FROM BORROWER 134,408.63 603.CASH TO SELLER 128,115.63 form HUD-1(3/86)ref Handbook 43052 U.S.DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SETTLEMENT STATEMENT PAGE 2 L.SETTLEMENT CHARGES: File Number:11879CL PAID FROM PAID FROM 700. TOTAL SALES/BROKER'S COMMISSION based on price$ 135,000.00§ 2.50= 3,375.00 BORROWER'S SELLER'S BORROWER'S FUNDS AT Division of commission(line 700)as follows: _ SETTLEMENT SETTLEMENT 701. $ 3,375.00 to 702. $ to 703. Commission paid at Settlement Realtor Holds Deposit 3.37500 704. 800. ITEMS PAYABLE IN CONNECTION WITH LOAN P.O.C. 801. Loan Origination Fee % 802. Loan Discount 803. Appraisal Fee to 804. Credit Report to 805. INSURANCE REVIEW to 806. PROPERTY CONDITION REPORT to 807. PHASE I REPORT to ;r 808. 809. 810. PROCESSING FEE 811. I 812. 813. 814. 815. 900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE 901. Interest from to G$ /day 902. Mortgage Insurance Premium to 903. Hazard Insurance Premium yrs.to 904. 905. 1000. RESERVES DEPOSITED WITH LENDER FOR 1001. Hazard Insurance mo.C1S /mo. 1002. Mortgage Insurance mo.CS /mo. 1003. City property taxes mo.($ /mo. • 1004. County property taxes 0 mo.IN /mo. 1005 Annual Assessments mo.C$ /mo. I 1006. mo.CS /mo. 1007. mo.as /mo. 1 1008. Aggregate Reserve for Hazard/Flood Ins,City/Count • 1'.1100. TITLE CHARGES • 1101. Settlement or closing fee to CAMBRIDGE TITLE COMPANY 375.00 375.00 • ;1102. Abstract or title search to ' 1103. Title examination to _ 1104. Title insurance binder to 1105. Document preparation to ' 1106. Notary fees to CAMBRIDGE TITLE COMPANY 25.00: 1107. Attorneys fees to BERNARDJ.MICHNA 250.00' (includes above item No: ) 1108. Title insurance to CAMBRIDGE TITLE COMPANY 1,060.00'. (includes above item No: ) 1109. Lenders coverage 1110. Owners coverage 135,000.00-1060.00 1111. EPA ENDORSEMENT 1112. IL DFI POLICY FEE CAMBRIDGE TIRE COMPANY 3.001 1113. CPL FEE CAMBRIDGE TITLE COMPANY 25.00 50.00 1200. GOVERNMENT RECORDING AND TRANSFER CHARGES 1201. Recording fees Deed 5 50.00 ;Mortgage$ :Releases S 11 50.00 1202. City/county/stamps Deed$ 0.00 ;Mortgage$ 1203. State tax/stamps Deed$ 0.00 ;Mortgage$ 1 1204. 11205. 11300. ADDITIONAL SETTLEMENT CHARGES 1301. Survey to NORTH SHORE SURVEY 450.00 1302. Pest inspection to 11303. 1304. LATER DATE/COMMITMENT UPDATE:AMBRIDGE TITLE COMPANY 100.00 100.00 1305. OVERNIGHT MAIL FEE CAMBRIDGE TIRE COMPANY 30.00 11306. EMAIL/WIRE PROCESSING FEE CAMBRIDGE TITLE COMPANY 25.00 1307. i I 1308. 1400. TOTAL SETTLEMENT CHARGES (enter on lines 103 and 502.Sections J and K) 575.00 5,718.00] form HUD-1(3/86)ref Handbook 4305.2 05/24/2011 10:02 1-847-446-9716 CAMBRIDGE TITLE COMP PAGE 01103 BERNARD J. MJCHNA, P.C. u� 400 Central Ave, Suite 230 Northfield, IL 60093 (847) 446-4600 Fax (847) 446-9716 • BJM(a fichnalaw.com FAX TRANSMISSION COVER PAGE DATE: / TIME: 1 . 617 COMPANY: FAX NUMBER: 947-(745- FROM: j'9 /14 I d L,net 4 — c RE: C�O� be MESSAGE: )�- 1t �- 7 p 41.4-aC J yort • �„t'l $ c4 Glosi:��, 5'>2a wl.ra-✓- 3 • I a H O -c eztko -, IMF Ad A TOTAL NUMBER OF PAGES INCLUDING COVER PAGE: problems with this transmission, please call us at 847-446-4600. If you have any 05/24/2011 10:02 1-847-446-9716 CAMBRIDGE TITLE COMP PAGE 02/03 BERNARD J. MICHNA, P.C. r/? G. ).1MC)A QL.J.MM/ 400 CENTRAL AVENUE,SUITE 230 NORTHFIELD,IL 60093 TEL: (847)446-4600 FAX: (847)44S971S May 24,2011 BY FACSZMXLE To: Teresa H. Liston (847-965-4162) Arthur (847-966-8130) From: Zaia Re: 8533 Callie Ave Land Trust to Village of Morton Grove Closing Scheduled For: Wednesday, May 25th 3 P.M. Closing Agent: Cambridge Title Company 847-446-1000 for figures Closer - Susan Closing Location: Village of Morton Grove 6101 Capulina Ave., Morton Grove, IL 60053 Thank You! 05/24/2011 10:02 1-847-446-9716 CAMBRIDGE TITLE COMP PAGE 03103 SELLER'S CLOSING STATEMENT SELLER: Laverne Charles Virginia Tortorice Jean Novak BUYERS: Village of Morton Grove PROPERTY: 8533 CALVE AVE., MORTON GROVE, IL 60053 CLOSING DATE: May 31, 2011 SELLER'S CREDITS: Purchase Price $135,000.00 BUYER'S CREDITS: Earnest Money $1,000.00 2011 RE Taxes (754.50 X 150%/365 X 151) 468.20 2010 RE Taxes (754.50 X 150% -414.98) 716.77 SELLER'S CHARGES: Owners Title Policy 1,060.00 State of Illinois Transfer Tax County Transfer Tax Balance of Commission (2.5% Minus Earnest Money) 2,375.00 IL DFI Policy Fee 3.00 Recording Fees 0.00 CPL 50.00 Overnight Mail for Payoff(s) 0.00 BJM Attorney Fee 250.00 Survey 450.00 Notary Fee 25.00 Later Date Fee 100.00 Fed Ex 30.00 1/2 Closing Fee 375.00 CASH TO SELLER 128,472.03 TOTAL $135,000.00 $135,000.00 BUYERS: SELLER: Morton Grove LaVeme Charles Virginia Tortorice Jean Novak r I f I i 1 � f c U I 9 I } y r C f I r r ! ai i ' 4 i N i 1 V r II t Q , IT rr �r 1 I i v ' B J MICHNA P C PREPARED FOR_ ERNARD J. , .. .1 n I PURPOSE: MORTGAGE/ SALE FIELD DATE::. o5-20-I 1 DELIVERY DATE: 05231 I - fFORMATS: BOND 1 ` Inforrrurllou hereon is nor safficienl nor guaranteed ftirhew c'wuJru2lion, unless property corners noted. i i' Uiilunces'uud a,gles may Heil be nssuurrd by scaling. are (u feet and 17 �a O � 9 sv � v 8 J d � 0 O 0 O Z O C 0 U ;n N v3 SSIONdL SERVICE CONFURAIS TQ THE CURRENT NIAIUAI ST tNDARDS FOR d. BOUND IRYSURVEY. O U) u) h a s � 3 IO m CV PLATO ... OF ... Lot 42 in Block 4 in Bingham and Fernald's Division of Section 20 and the East half of the Nor East of the Third Principal Meridian, (except a tract the Southwest corner of said Lot 40. Commonly known as # 8533 South Line of CAPULINA AVENUE - " South Face Stone Wall On Line — 0.67 South 0.73 South {{ j/1 & 2 STORY FRAME No. 5.51 / 0 to �41 ° m 8.21 C5 31.75 Orton Grove Subdivision being Lot 40 in the County Clerk's least quarter of Section 19, Township 41 North, Range 13, :00.0 feet North and South by 118.9 feet East and West at 'allie Avenue, Morton Grove, Illinois. J.() Askew & Meandering Wood & Wire Fence 1.725 — Concrete South Block Entry ; Lot 42 Concrete .. Walk .Frame , -/ Garage .17.37, i Concrete Walk 33.187 4.73 ` a�lcoid O CAGE 1.. Concrete Curbing Is 4.85 East and 2.37 South a \ \- ➢t - Concrete Retaining Wall N59 omen L 'Y1 is 2.58 Southand On Line Pev 4 t: ( FIRE STATION) "i i i q I i I SCALE:. 1 " = 15' NORTH SHORE SURVEY, LTD. 778 FROWAGE ROAD #I 10 NORTHFIELD. ILLIN01560093 ( 847)446 -6510. NSSURVEYU56CG1-OaA1-.NET It E., ,u descn sun.ys' DATE B `OpAL I L%V / / /,/ ��9 5 Sr"by Ur SS' lre,Surneyr Lid, do hereby eerrlfy real xe hm a sunered rhepropero ub¢ie eapliun in riceord,uRe a ilAyfJleia! recoiJq aruUor prploas Grp /al Gereun dnkn isa cor�l;reprrseniurlun. afsdd survp.. PHOFE3510NAL ILL.INOM LANG 3URYEYGR L GEN @E NO 55-2232 EXP. 1. 1-30-2012 AY 213, 201 f FILE NO. 1.R.O. L[GALI A.R.T. �1 A G B.J.T. PLV: A.R.T. 4O4S3-tJ' r