EXHIBIT G
FINAL PLAT PAYMENT, PERFORMANCE AND WORKMANSHIP BOND
SECURED BY CASH ESCROW
KNOW ALL MEN BY THESE PRESENTS, that ______________________________
(owner and/or subdivider of the property) hereinafter called the
Principal, is/are held and firmly
bound unto the Town of Normal, a Municipal Corporation, hereinafter
called the Obligee, in the penal sum of _________________ (amount
of bond) lawful money of the United States, for which ____ he _____
hereby bind ______________________ (himself/herself/itself/themselves)
to be truly made by ____________ (them) their heirs, executors,
administrators, successors and assigns, jointly and severally, by
the following presents.
Sealed and dated this ____day ____________________ of 20___, at Normal, McLean County, Illinois.
WHEREAS, a Petition has heretofore been filed with the Board
of Trustees of the Town of Normal for the acceptance of a tract
of land as a subdivision to the Town of Normal under the name and
title of _______________________________________________________
(name of
subdivision), McLean County, Illinois, per plat of _____________________________
(name of
Registered Land Surveyor) Registered Illinois Land Surveyor No.
______ consisting of _______ (number of lots in subdivision) lots
and streets, dated _____________ (date of final plat) and the plan
of which Plat has received preliminary approval by the Planning
Commission of the Town of Normal and the Board of Trustees, and
which Plat will be finalized upon the Principal's meeting the further
requirements of the Land Subdivision Code of the Town of Normal.
The legal description of the property sought to be subdivided,
and for which a final plat will be presented, and for which property
this Bond is given, is described as follow, to-wit:
(Legal Description of the property in the Subdivision)
EXHIBIT G
Page 2
WHEREAS said subdivider is required by ordinance of the Town of Normal to provide sanitary sewer and water conduits, curb and gutter, street base and surface, sidewalks, storm water conduits, street signs, pay all inspection fees and other costs set forth in said ordinance and provide a complete and accurate set of as built plans, all of which said work is to be done per exact specifications and plans as provided by said ordinance and as heretofore established by the Town of Normal; and
WHEREAS said subdivider's promise and guarantee that all construction on said proposed improvements shall be done in a workmanlike manner and in compliance with the ordinances of the Town of Normal, and subject at all times to the inspection and approval of said Obligee and its authorized officers and employees, and shall be completed on or before ________________________ (two years after the date of Council approval of the subdivision) and upon further guarantee that all damage or liability is caused or results from the construction, operation or repairs made by the said Principal to said streets, utility conduits, etc., pursuant to the terms of said plans and specifications, will be repaired and the Obligee herein, its officers or employees saved harmless from any and all claims whatsoever arising from the operations of the Principal for and during the period from the acceptance of this bond by said Obligee and for one year after the completion and acceptance by said Obligee of all matters and things required by said ordinance and herein bonded to be done.
NOW, THEREFORE, the condition of this obligation is such that if the above bonded subdivider shall well and truly keep, do and perform each and every, all and singular, the matters and things in said plans and specifications, the resolution approving the subdivision, this bond or the subdivision ordinance of the Town of Normal required and set forth and specified to be done by said subdivider and performed by said subdivider at the time and in the manner in said documents specified, or shall pay over, make good, reimburse and save the above-named Obligee harmless from all loss and damaged which said Obligee may sustain by reason of failure or default on the part of said subdivider so to do, then this obligation shall be null and void; otherwise, same shall remain in full force and effect.
PRINCIPAL:
_______________________________________
_______________________________________
(Appropriate Notary's Certificate for the Principal)