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. «.Kl i c VAMifcALtK *KUMV. ALGLST2K. Ittl HtPfRndThtPt In Buiintu Director UNITED WAY CRL'SADERfc-Cbief Crusader* of the United Way of McHenrv Countv meet to pU. 1961-42 fund drive. Chief Cnitadert are key executives of firms that presently support United Way with payroll deduction campaign* at"the work site. The mission of Crusaders is U solicit the support of 125 of the largest employers in McHenry county. In the above planning session are, from left Mel Prust, executive vice-president of McHenry State bank; William Douglas, president of Oak Switch systems. Inc.; Roman Bauer, office manager, Morton Chemical; Dan Schmitt, plant managei, Morton Chemical, host; and Rick Bernotas, principal. North Junior high school. Crystal Lake. V Office Centre 33 W HIGGINS ROAD • SOUTH BARRINGTON ILLINOIS 60010 South Barrington Office Centre is strategically located on Higgins Road (Route 72), just west of Barrington Road Featuring easy on-off access to the Northwest Tollway (I-90) at Barrington Road, it offers anyone doing business in the booming northwest corridor the perfect place to do business from Situated in an award-winning park-like environment, high-lighted by three lakes, South Barrington Office Centre is adjacent to Allstate s Corporate Headquarters with the Suburban Medical Center Hospital nearby. Just minutes from recreational facilities, restaurants and shopping, it offers a unique blend of prestigious office space (800 to 10.000 sq ft ), convenience and location --right in the heart of the northwest suburbs. STONEGATE Properties, Inc. (312) 882-3300 Final Summer Clearance GREAT FALL SELECTION NOW HERE! Store Hours: Daily 9-5:30 Friday 9-8 Saturday 9-5 STORE FOR MEN 1214 N. Green Street McHenry McHonry resident Gerry Croirt recently attended m Prudential regional business conference in McAfee, N.J. Mr. Grant is en oyent In the company's Palatine district agency. 415 Creekstde Or. Palatine, It. 40047. Representatives from Prwden- Hoi offices in Illinois and Irs- diena attondod the three-day conference. Featured »ub|ects Included the use of Insurance to combat Inflation, ai wall as new developments in proper* ty, casualty and group ln- suranee. (ADV.) I Real Estate Facts I Administrator For JAMES A. JOHNSON The appointment of Jame* A. Johnson to director of facility planning, a new position, was announced b> Intermatic. Inc.. Spring Grove, manufacturers of automatic timers, bearers, paint sprayers and lighting In his new position Johnson will be responsible for all short and long term plan­ ning for Intermatic facilities. Since May 1980 he has been manager of manufacturing production and for five years before that was director of manufac­ turing engineering. Since joining Intermatic in January of 1966. Johnson has held ~ a number of m a n u f a c t u r i n g a n d engineering positions, lie was graduated from Illinois Institute of Technology in {Chicago with a B.S. in Mechanical Engineering Purchase Capital Stock Commercial Credit the $5 1 billion financial services subsidiary of Control Data corporation, has completed the cash purchase of ail of the capital stock of Eler tronic Realty Associates Inc. < ERA>. according io Alan Moll, broker-manager of ERA-RDG Realty of Illinois. Inc., McHenry. The two firms had earlier an nounced the signing of a letter of intent and a formal agreement whereby Com mercial Credit would pur chase all of the outstanding \ shares of ERA < By Yvonne Beer. Executive Office, McHenry County Board of Realtors The McHenry County Board of Realtors answers questions regarding the real estate industry and related concerns Qwstiae: How does the new adjustable rate mor­ tgage ARM i work? Answer: The interest rate on the principal balance due can be changed as often as every' month depending upon which federal index is used The choice of index is agreed upon by the borrower and lender when the mortgage is written Question: Does that mean my monthly payment will fluctuate every month" Answer: It could, but that isn't likely Depending on how your lender sets up the loan, the monthly payment can rise or fall, the term of the loan can be reduced or lengthened to a 40-year maximum, or the loan principal can be increased or decreased Most banking officials agree that monthly payments will not be ad­ justed more frequently than every six months, as the paper work involved is toe complicated for morp frequent increases Question: How does the real estate industry view the ARM*' Answer: With ap­ prehension The individual homebuyer s ability to meet monthly payments with the potential for increased rates as often as twice a year is met with considerable skepticism Were the rates to increase most people would be unable to handle such wide fluctuations in their budget Question: Are interest rates expected to fall any time soon** Answer: The housing recovery is expected to begin within the near future according to 'he National Ass'jciation of Realtors Ir'e"3st rate* have fallen during May. only to move back ip to their previous levels However, it is just a matter of time before mortgage rates begin to decline from their current national level of 16 to 17 percent Question: How can you possibly be so optimistic" Aren't you taking a big risk in predicting a lowering of -ales an> time soOn? Answeer: Absolutely not Iwtfc "eductions are directly <er' tc '-illation. In recent :aonths ooth the Consumer P-ce indf-x and the Wholesale Price Index have been rising at less than a double-digit rate Question: To what level do you see interest rates falling" Answer: With core in­ flation still around 10 per­ cent. it is unlikely that mortgage rates will decline below a national rate oi 14 percent anytime this year. Question: Should I wait a few years to buy a home? Surely interest rates will fall by then. Answer: Interest rates may or may not drop below 14 percent in the next few vears. but what you mav gain in lower rates will more than likely be lost in higher home prices. Question: How do you recommend the first-time homebuyer finance a home in these difficult times? Answer: There are many new mortgage plans coming on the market, in addition to creative financing which is being used widely today If you plan to make use of creative financing, be sure to consult a knowledgeable real estate attorney. Your Realtor will be able to assist you in choosing a mortgage plan best suited to your needs • Questions from readers on real estate related issues should be sent to the McHenry County Board of Realtors at P.O. Box 192. Woodstock, IU., 60096 Questions of broad general interest will be answered in subsequent columns However, the board cannot guarantee a response to all questions.) Carestoel Announced GARY A. JANNUSCH Gary A Jannusch has been promoted to adm- ministrator of Carestoel of McHenry, a 310-bed long term care and skilled mu­ sing facility Jannusch, formerly personnel director of Carestoel. will head the facility, now under the new management of Care Management, Inc. of Bloomington. Care Management also owns or operates 22 other facilities throughout the Illinois area. Formerly a resident of Chicago and now residing with his family in Island Lake. Jannusch is -a graduate of the National College of Education and has served as chairman of the Island Lake Plan com­ mission for the last four years TC Industries 3UVU9. ; m « Promoted 100 Years Old / - \ * JAMES R. SLACK Erman G. Kramer, chair­ man of the board and chief executive Oofficer of the First National Bank of Skokie. announces the promotion of James R. Slack from assistant vice- president, Manager Demand Deposit Operations, to vice-president - Support Service Operations. Slack started with FNBOS in 1967 as a teller. His last promotion was assistant vite-presideut - Manager Commercial Banking Ser­ vices and^ Administration. Slack is afi active outdoor sport-man and currently ser \ es as 2 secretary for the Sunnyside Beach Im­ provement association of McHenrv where he, his wife, Gavle, and two children reside. ARTIST RECOGNIZED Betty Odmark of McHenry is among artists included in a new reference book. American Artists of ReitofhT whfch limits its biographies to 2.500 working artists of today. the'Vtlla&e Souire 'of jflciienr; "A GOOD PLACE TO BE" ^ ™ ( SEPTEMBER SPECIALS ;LUNCHEON A GOOD FAST UINOI $*75 HON - 1HURS , FRI: FISH FRY (ALL YOU CARE TO EAT) $3*5 SAT: NEW YORK STRIP STEAK DINNER .... *V5 S U N : FRIED CHICKEN (ALL YOU CARE TO EAT). *.. $375 MON: 6YR0 PLATE SPECIAL *3" • • • • • • • • • • • • • • • • • • • • • • • • TUES: RAKED HAM IN PITA WED: JUMR0 SHRIMP DINNER THURS: B-B-Q RIDS AND CHICKEN ENTERTAINMENT TUES-SUN 8:JOpn-el.iin5 $475 • • • • • • • • VHIa§s Squirt 125 Wuliinfton St Iff Diriai 312-421-4411 V Dm Village Squire of McHenry 4512 W.RT. 120 McHfNRY 385-0900 Villas* Squirt North 4818 N. tf Higliwiy (Rte. 14) , Ciyitil Lab 815-455-4130 TC Industries, of Terra Cotta, on Rt. 31, is marking its 100th year in business under that name with plant tours Aug. 27, 28 and 29 for customers, employees, retirees and their families, manufacturers and area dignitaries. Congressman Robert McClory and Senator Jack Schaeffer will be adiong those attehdine Friday( Many of tne company employees are from the McHenry area. Formerly known as the Spnng Valley Tile works, the company name was changed to Terra Cotta Tile works in 1881. Six years later, a fire partially destroyed the works but the company was rebuilt by the owner, William D. Gates American Terra Cotta and Ceramics, as it was called in 1887 produced architectural terra cotta glazed facing tile and tecc pottery. With ':he outb-eak of World War II, the government provided the technology for converting the ceramic kilns to producing annealing and stress relieving metal products for the military. After the war. in 1947. the company resumed the production of terra cotta products. In addition, the company purchased the government installed equipment and farmed the American Steel Treating company. A major fire destroyed the plant in early 1952, but complete operations were resumed by fall of that year. The mid-1950's to the end of the decade saw further expansion into the steel processing industry, including processes for treating steel bar and plate material , treating and machining b.ea.vy construction tools and steel work for the government. With the last terra cotta being made in 1966, the American Steel Treating, Processed Steel company and the Amtec company assumed the single corporate name of TC Industries. The company branched out internationally tc include a plant in Guelph. Ontario. in 1979 Plans have been announced to inaugurate the 101st year with further expansion. Progress is being made toward new office, production and warehouse facilities. Some Residential Gas Lights May Remain On Residential gas customers will not have to turn off their outdoor gaslights. Almost three years after outdoor natural gas lighting was banned President Reagan has signed a bill amending the Powerplant and Industrial Fuel Use act to exempt existing residential lights installed before Nov. 9, 1978. The law required removal or con­ version of such fixtures by Jan. 1. 1982 The change permits all existing residential gas lighting for single family, multi-family, condominium and apartment uses to continue. Top Producer Modine Sales Gains Modine Manufacturing company has reported gains in sales and earnings for the first fiscal quarter ended last June 30. The report was made here to shareholders attending the sixty-fifth annual meeting EE Richter, president and chief executive officer, announced that first-quarter sales were $47,136,000, slightly above the $46,578,000 in the same period the year before Net earnings of $2,241,000, or 77 cents per share, rose somewhat compared with the $2,184,000, or 76 cents per share, in the first quarter of the previous fiscal year. DENNIS DRAKE Century 21 Lake Region recently announced the top three producers in volume of transactions closed in their McHenry office for the first six months in 1981. Leading this group was Dennis Drake, followed by Barbara Howard and loe Gilmore. Easy Ckan-Up Opticians recommend clean­ ing eyeglasses with soap and warm water periodically. This removes accumulated oil from the skin. Rinse and polish with a soft cloth or tissue paper The McHenry Plaindealer | Ml J West ElmStrMl (USPS 335-200) Established 1»75 McHenry Illinois 40050 Phope 815-3B5-0170 Published Every Wsdnesdoy I Friday at McHenry. Illinois Second Closs Postage Paid at McHenry Illinois By McHENKY PUBLISHING COMPANY POSTMASTER Send eddress changes to McHenry Plaindeeler 3*12 W. Elm St McHenry. Illinois 50050 Subscribers are requested to provide immediate notice o« change oi address to The McHenry Plaindealer. 3(12 W Elm St.. McHenry. III. 50050. A deduction of one month from the expiration of a subscription will be made where a change of ciddrpi* Is provided through the Post Office department rhomai C. Miil«r-Pubilsh«r Ad*U Frovhlich-Edltor S Nt*5PAPER j £ l«j>? , I ' NATIONAL NEWSPAPER j* ASSOCIATION SUBSCRIPTION RATES $ I Y»ar.... ....$16.90 in McHenry County 1 Y«wr $24.00 8 Outildi Met limy County ft; K . e • e • • •• • • • • • M.MAMAVW.S^S r