ORDINANCE
55 EAST MONROE INVESTORS IV, LLC. Acct. No. 310985-1 Permit No. 1129659
Se It Ordained by the City Council of the City of Chicago:
SECTION 1. Permission and authority are hereby given and granted to 55 EAST MONROE INVESTORS IV, LLC, upon the terms and subject to the conditions of this ordinance to maintain and use, as now constructed, two (2) Vault(s) under the public right-of-way adjacent to its premises known as 55 E. Monroe St
Said Vault(s) at S. Wabash measure(s):
One (1) at four hundred six (406) feet in length, and ten (10) feet in width for a total of four thousand sixty (4060) square feet.
Said Vault(s) at E. Adams measure(s):
One (1) atone hundred eighty-one point six six (181.66) feet in length, and twelve (12) feet in width for a total of two thousand one hundred seventy-nine point nine two (2179.92) square feet.
The location of said privilege shall be as shown on prints kept on file with the Department of Business Affairs and Consumer Protection and the Office of the City Clerk.
Said privilege shall be constructed in accordance with plans and specifications approved by the Department of Transportation (Office of Underground Coordination).
This grant of privilege in the public way shall be subject to the provisions of Section 10-28-015 and all other required provisions of the Municipal Code of Chicago.
The grantee shall pay to the City of Chicago as compensation for the privilege #1129659 herein granted the sum of twenty-one thousand four hundred sixty-five ($21,465.00) per annum in advance.
A 25% penalty will be added for payments received after due date.
The permit holder agrees to hold the City of Chicago harmless for any damage, relocation or replacement costs associated with damage, relocation or removal of private property caused by the City performing work in the public way.
Authority herein given and granted for a period of five (5) years from and after 09/27/2017.
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