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Contracts Keyed to Whaley
Board of Education of Community School District No. 220 v. Village of Hoffman Estates
Citation:Appellate Court of Illinois, 1984. 126 Ill. App. 3d 625, 81 Ill. Dec. 942, 467 N.E.2d 1064.
Village of Hoffman Estates (Defendant) entered into annexation agreements with two groups of developers. Each agreement provided that the developers were to pay “the sum of $135 per residential unit” to defendant. The funds paid were to be held in escrow, and the parties would use their best efforts to cause the area annexed to be included in the boundaries of School District 15. If, however, their efforts were unsuccessful, then after a 5 year period the funds were to be paid to School District 220 (Plaintiff). Before the expiration of this 5 year period, the parties modified their agreement, extending the period for annexation of District 15 to 9 years.
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