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Home My WebLink AboutRES.2064.05-02-2005BILL NO. 05-92 RESOLUTION NO. 2, A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE AN ESCROW AGREEMENT WITH NORTH POINTE CENTER, L.L.C., FOR CONSTRUCTION OF A SEWER LINE IN NORTH POINTE CENTER FIRST ADDITION SUBDIVISION BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS: ARTICLE 1. The City Manager, for and on behalf of the City of Cape Girardeau, Missouri, is hereby authorized to execute an Escrow Agreement with North Pointe Center, L.L.C., for construction of a sewer line in North Pointe Center First Addition Subdivision. A copy of said Escrow Agreement is attached to this Resolution and made a part hereof. PASSED AND ADOPTED THIS DAY OF 20 r Gayle L. Cdrjrad, City Clerk ay Knudtson, Mayor Escrow Agreement This Escrow Agreement made and entered into this day of , 2005, by and between North Pointe Center, L.L.C., having an office and place of business at 1441 N. Mt. Auburn, Cape Girardeau, MO. 63701, hereinafter called Developer, and the City of Cape Girardeau, Missouri, a municipal corporation, hereinafter referred to as City. WITNESSETH: WHEREAS, the Developer is the owner of North Pointe Center First Addition, a proposed subdivision located within the City of Cape Girardeau, Missouri, and has submitted to the City improvement plans and specifications which have been approved by the City and has submitted a record plat with request that said plat and the plans and specifications for the improvements in the Proposed Subdivision, be accepted and approved by the City, and WHEREAS, Developer proposes to meet the ordinance requirements of the City with respect to the posting of this Escrow Agreement prior to the approval by the City of the record plat for this proposed subdivision, NOW, THEREFORE, In consideration of the foregoing and of the mutual promises and agreements contained herein the parties to this Escrow Agreement stipulate and agree as follows: 1. Developer is the owner of North Pointe Center First Addition, hereinafter referred to as the "Proposed Subdivision", and has submitted to the City its plat of said Proposed Subdivision and requested approval of same and the City has heretofore approved the improvement plans and specifications of the Proposed Subdivision. 2. A cashier's check in the amount of $35,000.00 to cover City Engineer's estimated cost to complete said subdivision improvements. The cashier's check in the amount of $35,000.00, a copy of which is labeled Exhibit "A" and is attached to this Escrow Agreement and made a part hereof as though fully set out herein, has been placed in the possession of the City Engineer for deposit in the City's general fund. Said cashier's check is a commitment by the Developer to complete the improvements in the Proposed Subdivision to the satisfaction and approval by the City Council. 3. The City agrees to hold the funds in the amount of $35,000.00, subject to the provisions of this Agreement and the ordinances of the City of Cape Girardeau, as they may appertain to the provisions of the Escrow Agreement. 4. Upon acceptance of the improvements by the City Council, the City Manager will approve the release of all funds to the Developer and this agreement shall be terminated and the Developer shall be released from any further obligation to the City insofar as the provisions of this Escrow Agreement are concerned. 5. In the event of the failure of the Developer to complete the improvements as set out in the plans and specifications approved by the City Council, within a reasonable period of time, the City may use said funds to contract for such completion and after such completion, any remaining funds will be released to the Developer as set out in item number 4. above. IN WITNESS WHEREOF, the parties have executed this instrument in triplicate as of the day and year first herein written. DEVELOPER North Pointe Center, L.L.C. r � Gary Helweoe�,Mgnaging Member ATTEST: Gary St ley, Manag g Member CITY OF CAPE GIRARDEAU [Seal] Douglas K. Leslie, City Manager ATTEST: Gayle L. Conrad, City Clerk STATE OF MISSOURI ) ss. COUNTY OF CAPE GIRARDEAU ) On this eke day of 2005, before me personally Gary Helwege to me known to be the person described in and who executed the foregoing instrument, and acknowledged that he executed the same as his free act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal at my office in said County and State the day and year first above written. COUNTY OF CAPE GIRARDEAU On this day of , 2005, before me appeared Douglas K. Leslie, to me personally known, who, being by me duly sworn, did say that he is the City Manager of the City of Cape Girardeau, Missouri, a Municipal Corporation of the State of Missouri, and that the seal affixed to the foregoing instrument is the seal of said City and that the said instrument was signed and sealed in behalf of said City by authority of its City Council and acknowledged said instrument to be the free act and deed of said City. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal, at my office in Cape Girardeau, Missouri, the day and year first above written. LaDonna Laub, Notary Public My Commission Expires: August 4, 2007 [Notary Public Signature] My Commission Expires: SANDRA DEPROW JI/5 /O� [Typed Name of NotaryPublic]== r / SANDRA DEPROW Notary Public - Notary Seal`, State of Missouri County of Scott My Commission Ex . 05/15/2007IS STATE OF MISSOURI�'' ss. COUNTY OF CAPE GIRARDEAU On this day of , 2005, before me appeared Douglas K. Leslie, to me personally known, who, being by me duly sworn, did say that he is the City Manager of the City of Cape Girardeau, Missouri, a Municipal Corporation of the State of Missouri, and that the seal affixed to the foregoing instrument is the seal of said City and that the said instrument was signed and sealed in behalf of said City by authority of its City Council and acknowledged said instrument to be the free act and deed of said City. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal, at my office in Cape Girardeau, Missouri, the day and year first above written. LaDonna Laub, Notary Public My Commission Expires: August 4, 2007 D MONTGOMERY OFFICIAL CHECK FIRST NATIONAL 119601 ST. LOUIS, MO DATE April 26, 2005 80-1776/815 PAY TO THE s ORDER OF City of Cape Girardeau THE SUM 3 5,00 Dotso' cT $35,000.00 REMITTER North Pointe Center LLC TWO SIGNATURES REQUIRED FOR AMOUNTS OVER $20,000.00 r A AUTHORIZE IGNATURE ---�� --- ---- lie" L L 9 6 0 I'll 1:01 IS L? 7 L: u• II■ --- ---- ---- 6 LO