Connell Skaggs (7-11)-CS 900305Ak
3/57/ I sg o
A&
�: �Q LoG�� � ��6���U /rso�...� � K.� ✓C.�Vrridb� F
,,,�G/10Cgi /6ft .ft,» �itio�.✓ % Ka ✓e,✓ Cowaclo��j�ESoLuT
/ r
of ?'��ow�.,,grh.v�„�XT 4,l l�l�crso��er�io4,✓/lC.a)
�� �� � /9881790 �oro�i`•�[ ltb�L' /� LoCQ/ ;
�e-
/ v
Z�^� �'� Iy taw l � r � ° � � �` •�,� t
iG e J Col., 0 .u✓A �P�Jo �u r► E i . l.' o C,L�—
r �-
-
' F
AS we Lkuxssac It to � c� '�. �s ub4. )
�,, G?� uJl��- crccs 4� vex✓ � �. 4 � Ga�.� -c�•/ ,�4.••� _
�Iease- Aw.'" 'fL&se. dow"..45- wj-�ArA P 1.4 .A- w10IJ If )oK.
Howes - wc,to,.. - %� i u�- !c �..`v y�✓ �arc� 13,1440 —
FILE COPS ��►`'��
CITY OF COPPBLL
-- -- -- - - --
ESCP4W At NT
For and in consideration of the mutual covenants and agreements
herein contained, the City of Coppell hereinafter called "City" and
Exxon Corporation hereinafter called "Developer ", do hereby agree
as follows, to -wit:
WHEREAS, the current City policies (Subdivision Ordinance Appendix A,
Section 17) require that in new areas, a Developer install major
public improvements where required in or adjacent to said addition.
Developer has elected to develop Sandy Lake Crossing, Lot 3, Block
1 an Addition in the City of Coppell, Dallas County, Texas (See
Exhibit 1, attached). In lieu of the developers obligation to
construct their portion of Sandy Lake Road improvements and 60.43
linear feet of frontage still unimproved, the Developer agrees to
place in escrow $12,086.00 for the construction of aforesaid major
public improvements. This dollar amount being based on the current
pro rata charges as provided for in Appendix B of the Sub - Division
Ordinance, and is based on a future estimated cost of $200.00 per
front foot for Sandy Lake Road. This roadway is classified as a
six -lane divided major thoroughfare. The actual amount due to the
City will be based on the actual cost when constructed, and the
escrow account adjusted accordingly at that time. This escrow will
be required in lieu of the construction of a half - street.
THEREFORE, the Developer does hereby deposit $12.086.00, which will
t0
)i!'C� -?/�z
be held in the sole name of the City in an interest bearing account
to draw interest at the current rate. No withdrawals shall be made
until such time as the above mentioned improvements are made. After
completion and acceptance of the above mentioned improvements by the
City, the difference between the escrowed funds (original amount
escrowed plus accrued interest) and the actual cost shall be refunded
to the Developer. In the event that actual cost of above mentioned
improvements exceed the escrowed funds (original amount escrowed plus
accrued interest) the Developer will be assessed the difference,
payable within ten (10) days of notice.
THE CITY may issue Building Permits on the aforesaid property without
the requirement of the aforementioned improvements, and upon deposit
of Escrow Funds described herein.
Signed and Executed this the day of
19C�.
FOR►
PP °arn'E ,.
EXXON RPORATION
Developer by C. D. STEVENS
AGENT 6 ATTORNEY IN FACT Mayor
Attest: Attest:
AF, /-/'ax��
lt1. Is
d`'tty Secretary
City Secret #y