(A) The dedication of land shall be made by deed to the applicable school or park district with only those encumbrances reasonably acceptable to the recipient district. The grantor shall provide title insurance subject only to the standard permitted exceptions, the conveyance shall occur at such time as the required improvements have been completed or sooner at the request of the recipient district.
(1) A note requiring the dedication of land to the respective district shall be included on the final plat of subdivision.
(B) Cash contributions shall be made at the time of the issuance of the building permits for the subject residential dwelling units.
(1) The cash contributions required hereunder shall be made by check payable to the village and shall be deposited with the village.
(2) The Finance Department shall keep a record of these receipts.
(Ord. 174, passed 2-20-78; Am. Ord. 841, passed 4-3-95; Am. Ord. 842, passed 4-3-95; Am. Ord. 1233, passed 5-20-02; Am. Ord. 2141, passed 12-18-23)