Gibbs Station 2-ES 970826t~ § ESCROW AGREEMENT
' ' te and entered by and between the City of Coppell, Texas,
~mes, .L.P. (hereinaRer"DEV~.OPER").
0VITNES SETIt:
WltEREAS, DEVELOPER. and the CITY desire to enter into a certain written Agreement
for the payment of escrow funds for public improvements consisting of filling voids, stabilizing, and
liffing a concrete curb section which has settled along 935 Village Parkway in the City of Coppell,
Texas and being more particularly described in Exhibit "A" attached hereto. Construction of the
foregoing repairs and improvements is hereafter referred to as the "PROJECT."
NOW, TI~REFORE, in consideration of the mutual benefits and promises contained herein,
including recitals set forth hereinabove and for other good and valuable consideration, the receipt and
adequacy of which is hereby acknowledged, the CITY and the DEVELOPER agree as follows:
ESCROW
1. The DEVELOPER shall place into an escrow account with the crrY, the sum of
THREE THOUSAND AND NO/100 DOLLARS ($3,000.00) for the improvement of the Village
Parkway curb section ("Escrow Amounf').
2. The DEVF. I.OPER agrees to pay to CITY the ESCROW AMOUNT within ten (10)
days after executing this Agreement.
3. This Agreement and its performance by DEVELOPER will satisfy all the current
obligations of the DEVELOPER to provide for the construction or escrow of fees for maintenance of
the V'fllage Parkway curb section.
4. Any funds remaining in escrow at, er full payment for all costs of the PROJECT shall be
returned to the DEVI~I.OPER. If the actual costs of' the PROJECT exceed the escrow funds, the
DEVELOPER must, aRer ten (10) days written notice from the CITY, pay the increased ESCROW
AMOUNT.
PROJECT
5. The CITY agrees to contract the completion of the project as set forth herein in
accordance with the terms and conditions of this Agreement.
Coppell Escrow Agreement - Page I ss~osta
STATE OF TEXAS §
§ ESCROW AGREEMENT
COUNTY OF DAI,I,AS §
Tltlg AGREEMENT, is made and entered by and between the City of CoppeIl, Texas,
(hereinat~er '~the CITY") and Weekly Homes, L.P. (hereinafter "DEVELOPER").
WITNESSETH:
WHEREAS, DEVELOPER and the crrY desire to enter into a certain written Agreement
for the paYment of escrow funds for public improvements consisting of filling voids, stabilizing, and
lifting a concrete curb section which has settled along 935 V'fllage Parkway in the City of Coppell,
Texas and being more particularly described in Exhibit "A" attached hereto. Construction of the
foregoing repaks and improvements is hereafter referred to as the "PROJECT."
NOW, THE~FO~, in consideration of the mutual benefits and promises contained herein,
including recitals set forth hereinabove and for other good and valuable consideration, the receipt and
adequacy of which is hereby acknowledged, the CITY and the DEVELOPER agree as follows:
ESCROW
1. The DEVELOPER shall place into an escrow account with the CITY, the sum of
THREE THOUSAND AND NO/100 DOLLARS ($3,000.00) for the improvement of the V'fllage
Parkway curb section ("Escrow Amount").
2. The DEVELOPER agrees to pay to CITY the ESCROW AMOUNT within ten (10)
days after executing this Agreement.
3. This Agreement and its performance by DEVELOPER will satisfij all the cmxent
obligations of the DEVELOPER to provide for the construction or escrow of fees for maintenance of
the Village Parkway curb section.
4. Any funds remaining in escrow after full payment for all costs of the PROJECT shall be
returned to the DEVELOPER. If the actual costs of the PROJECT exceed the escrow funds, the
DEVELOPER must, after ten (10) days written notice from the CITY, pay the increased ESCROW
AMOUNT.
PROJECT
5. The CITY agrees to contract the completion of the project as set forth herein in
accordance with the terms and conditions of this Agreement.
Coppell Escrow Agreement - Page 1 ss~0st3
6. The CITY'S duties shall be to fill any voids, stabilize, and lift the concrete
pavement to restore drainage.
7. All costs of the PROJECT are to be borne by the ESCROW AMOUNT.
ENTIRE AGREEMENT
8. This Agreement constitutes the sole and only agreement of the parties and
supersedes any prior understandings or written or oral agreements between the parties respecting
this subject matter.
ATI'ORNEY'S FEES
9. If any action at law or in equity is brought to enforce or interpret the provisions of
this Agreement, the prevailing party shall be entitled to reasonable attorneys' fees in addition to
any remedy to which the party may be entitled.
GOVERNING LAW
10. The validity of this Agreement and any of its terms or provisions, as well as the
rights and duties of the parties, shall be governed by the laws of the State of Texas; and any venue
for any action concerning this Agreement shall be in Dallas County, Texas.
11. This Agreement may be amended by the mutual agreement of the parties to it, in a
writing to be attached to and incorporated in this Agreement.
LEGAL CONSTRUCTION
12. In the event any one or more of the provisions contained in this Agreement shall
for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity,
illegality, or unenforceability shall not affect any other provisions, and the Agreement shall be
construed as if such invalid, illegal, or unenforceable provision had never been contained in it.
13. The DEVELOPER shall not assert any claim arising out of any act or omission by
any officer, agent or employee of the CITY in the execution or performance of this Agreement
against that officer, agent or employee. Those claims may be made against the CITY.
Coppell Escrow Agreement - Page 2 5510613
14. Nothing in this Agreement shaH be construed to give any person other than the
CITY and the DEVELOPER any legal or equitable right, remedy or claim under this Agreement;
but it shall be held to be for the sole and exclusive benefit of the CITY and the DEVELOPER.
NOTICE
15. Any notice required or permitted to be delivered hereunder shall be deemed
received when sent by United States mail, postage prepaid, certified mail, return receipt
requested, addressed to CITY or the DEVELOPER as the case may be at the address set forth
opposite the signature of the party.
TERMINATION
16. This Agreement may not be terminated by either of the parties.
EXECUTED this the day of ,1997.
WEEKLY HOMlgS, L.P. CITY OF COPPEI
By: By:
NAME: JIM WIT'F, CITY MANAGER
TITLE:
Address: Address: 255 Parkway Boulevard
P.O. Box 478
Coppell, Texas 75019
Coppell Escrow Agreement - Page 3 ss~o~t3
STATE OF TEXAS §
COUN'I~ OF DAI.I,AS §
I hereby certify that on this day, before me, the undersigned authority, _personally appeared
· , Of
· known to me to be the person whose name is subscribed to the foregoing
insmunent and acknowledged that he executed the same on behalf of the said corporation for the
purposes therein contained.
IN WITNESS WHEREOF, I have hereunto set my hand and official seal.
Notary Public, State of Texas
My commission expires ,19
STATE OF TEXAS §
COUNTY OF DALI.AS §
I hereby certify that on this day, before me, the undersigned authority, personally appeared
· , of
· known to me to be the person whose name is subscnl~! to the foregoing
instrument and acknowledged that he executed the same on behalf of the said corporation for the
purposes therein contained.
IN wrrNESS WHEREOF, I have hereunto set my hand and official seal.
Nota~j Public, State of Texas
My commission expire~ ,19
Coppell Escrow Agreement - Page 4 ss~os~3
WEEIO.,EY HOMES, L.P. nO.033496
MANUAL ACCOUNT M-14o
1300 POST OAK BLVD., SUITE 10OO 11a~
....._....,.;. H. 0,LISTON: T~ 77056
-9Jl 3,/1997
PAY TO THE
.. . . ..... .~ -.- ~ ~ $ *'3,000.00
ORDER
/'-~OID AFTER 50 DAYS
V~O.~.y HOM~S, LP .....
MANUAL ACCOUNT
'City of Coppeil 811311997 NO.033496
Repairs . 0199999.9524 3,000.00
Gibbs Station