Sandy Lk Cross L3-CN 900209CITY OF COPPELL
For end 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 improves~nts where required in or adjacent to said addition.
Developer has elected to develop ~ndy Lake CrossinG, Lot 3, Block
1, en Addition in the City of Coppell, Dallas County, Texas (See
Exhibit 1, attached). In lieu of the developers obligation to
construct their portion of
lln6ar feet 9f frontage still
place in escrow ~12,Q86.00
Sandy Lake Road improvements and 60.43
unimproved, the Developer agrees to
for the construction of aforesaid major
public improvements. This dollar a~ount being based on the current
pro rata charges as provided for in Appendix B of the Sub-Division
Ordinance, end 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
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