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Home My WebLink About15945 ORD - 12/17/1980----1p:12/17/80;1st AN ORDINANCE AUTHORIZING AN ESCROW AGREEMENT WITH THE DEVELOPER OF WOODLAKE APARTMENTS, KNOWN AS LAKEVIEW ACRES, BLOCK 2, LOTS 1.3 and 14, WHEREBY THE DEVELOPER WILL CREATE AN ESCROW ACCOUNT WITH STEWART TITLE COMPANY AND DEPOSIT IN THE ACCOUNT THE FUNDS REQUIRED FOR THE EXTENSIONS OF SEWERS AND WATER IN THE AMOUNT OF $22,870.75 IN . CONSIDERATION OF THE RELEASE OF THE PLAT OF LAKEVIEW ACRES, BLOCK 2, LOTS 13 and 14, A SUBSTANTIAL COPY OF WHICH ESCROW AGREEMENT IS ATTACHED HERETO AND MADE A PART HEREOF, MARKED EXHIBIT "A"; AND DECLARING AN EMERGENCY. BE IT ORDAINED BY CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: O SECTION 1. That the City Manager be authorized to execute an 'escrow agreement with the developer of Woodlake Apartments, known as Lakeview Acres, Block 2, Lots 13 and 14, whereby the developer will create an escrow account with Stewart Title Company and deposit in the account the funds required for the extensions of sewers and water in the amount of $22,870.75 in consideration of the release of the plat of Lakeview Acres, Block 2, Lots 13 and 14, a substantial copy of said escrow agreement being attached hereto and made a part hereof, marked Exhibit "A". SECTION 2. The necessity to execute the aforesaid escrow agreement at the earliest practicable date creates a public emergency and an imperative public necessity requiring the suspension of the Charter rule that no ordinance or resolution shall be passed finally on the date of its introduction but that such ordinance or resolution shall be read at three several meetings of the City Council, and the Mayor having declared that such emergency and necessity exist, having requested the suspension of the Charter rule and that this ordinance be passed finally on the date of its introduction and take effect and be in full force and effect from and after its passage, IT IS ACCORDINGLY SO ORDAINED, this the t l day of December, 1980. ATTEST: 4/14x/t4-f,' City Secretary \ MAYOR bro.iem THE CITY 02(CORPUS CHRISTI, TEXAS APPROVED: C2.1.c/Ac,./7, /910 J. BRUCE AYCOCK; CITY ATTORNEY By Assistdrit City Attorney MICROFILMED 15945 SEP 2 71984 ESCROW AGREEMENT THE STATE OF TEXAS X COUNTY OF NUECES X This agreement is authorized by Ordinance No. and is entered into between the City of Corpus Christi, Texas, hereinafter called "City", and Morgan Spear, dba Woodlake Apartments, hereinafter referred to as "Developer", and pertains to the required platting improvements incidental to the platting of a 9.149 -acre tract of land in the City, proposed to be known as Lakeview Acres, Block 2, Lots 13 and 14. WHEREAS, the proposed plat of Lakeview Acres, Block 2, Lots 13 and 14, has been submitted and approved by the City Planning Commission on Au;ust 5, 1980 and, WHEREAS, it has been determined that offsite sanitary sewer improvements are required as a condition of the platting as well as an 8" diameter fire line to serve the proposed apartment complex be installed and, WHEREAS, it is the Developer's request that the plat of Lakeview Acres, Block 2, Lots 13 and 14 be released for filing by the City, subject to escrow funds being placed in a separate account by Developer, providing for the required platting improvements and, WHEREAS, the City of Corpus Christi agrees to the release for filing of Lakeview Acres, Block 2, Lots 13 and 14 final plat, subject to the conditions herein described. NOW, THEREFORE, the City and Developer agree as follows: 1. The Developer will construct an offsite sanitary sewer to serve Lakeview Acres, Block 2, Lots 13 and 14, and an interior fire line (per attached Exhibit 'A') and place the amount of $22,870.75 in an escrow account to cover the cost of said construction. The attached Exhibit 'B' indicates the cost for water and sanitary sewer improvements to be placed in escrow account. 2. Stewart Title Company will serve as the Escrow Agent for the Developer and City. The attached Exhibit 'C' verifies that the escrow account has been established. F, -"r rb. '71 3. City will approve offsite sanitary sewer and 8" diameter interior fire line for proposed apartment complex. City agrees, through the Director of Engineering & Physical Development, to sign and release the plat of Lakeview Acres, Block 2, Lots 13 and 14 for filing, subject to City Council approval of the agreement and verification of the escrow funds. Developer agrees to install the required improvements within six (6) months from the date of the established escrow account. 4. Funds in•the escrow account shall be dispersed only upon written approval from the Director of.Engineering & Physical Development upon completion and acceptance of the above water and sewer lines. No Certificate of Occupancy will be issued by the City of Corpus Christi until the sanitary sewer and water requirement indicated under Number 1 above, is completed. If the sanitary sewer is not completed within six (6) months of the approval date of this agreement, the Escrow Agent is authorized to release all of the funds in the escrow account referenced in Section 1 above, including any interest thereon, to the City of Corpus Christi upon request of the Director of Engineering and Physical Development. After delivery of such funds to the contractor, upon completion of the work or to the City upon request, the obligation of the escrow agent will cease. 5. The Developer agrees to indemnify the City against any claims arising as a result of the project. 6. This agreement shall be executed in duplicate, both of which shall be considered one instrument. When both of the duplicates have been executed by the City, at least one duplicate has been executed by the Developer and the Escrow Agent has accepted the agreement, this agreement shall become effective and shall be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, successors and assigns. WITNESS this day of , 1980 MORGAN SPEAR, dba WOODLAKE APARTMENTS CITY OF CORPUS CHRISTI ATTEST: By By City Secretary City Manager APPROVE: ACCEPTED: t� day of,A9lisi_,1980 Escrow Agent 4. ROPO F/EL0 RatO (5.11.357) LOCATION MAP 11 rv'P%t od, 3. • 7 J. ICJ n`e. I \et fi 22 PARK: • . . • ...G.4! cif h z .It. •41" ,...- whne 5EWE PArT1415 A,GeEEMEIJT 7 „--- 0 I/ (025 Sole ••••10.F.14. \9- I \ 'q• D FIELD RD. 0 STATE HWY. 357 570 2 EXHIBIT 'A" OGLETREE, au= & ASSOCIATES ENGINEERING CONSULTANTS BOX 3551 CORPUS CHRISTI. TEXAS 75404 5124353-7244 1 A G UTILITY COMPANY, INC. • P. O. Box 10082 CORPUS CHRISTI. TEXAS 78410 December 2, 1980 Ref: Wood Lake Apartments' Corpus Christi Ogletree, Gunn & Associates P. 0. Box 3551 Corpus Christi, Texas 78404 Dear Sir: We are pleased to submit the following proposal: Sanitary. Seder Improvements 138'.. 10" V C P 6-8' cut 12.50 1,725.00 877' 10" V C P 4-6' cut 11.50 10,085.50 ' Tie to existing manhole 250.00 4 ' manholes 4-6' 800.00 3,200.00 91 lf. -asphalt patch 8.25 750.75 Sub—total sanitary sewer 16,011.25 Water Improvements 310' 8" A C P • 8.20 2,542.00 85' 6" A C P 7.50 637.50 1 8" Cross M3 260.00 260.00 1 6" MJ Tee 190.00 190.00 2 8 x 6 MJ Tee 225.00 450.00 1 8 x 6 MJ Reducer 150.00 150.00 2 Fire Hydrants complete 116" valve 1,200.00 2,400.00 2 8" Tapped cap MJ 80.00 160:00 1 6". Tapped cap M3 70.00 70.00 Sub—total water 6,859.50 TOTAL $22,870.75 EXHIBIT B (512) 241.1291 .Smms.rr n/ ('onr.n.t STEWART TITLE 4101 south Padre Island Drive Post office Box 6308 Corpus Christi, Texas 78411 (512) 855-8211 The undersigned acknowledges receipt of monies amounting to $ 8/3,. 7 to be held in accordance with terms of foregoing agreement. Escrow Agent does not assume and shall not he under any liability on account of performance or non-performance of any party to the agreement; Escrow Agent shall not be liable for any interest or other charge on the money held by it. Dated this 72( ---day of F (Z , 1980. ,l Leis /T .c STTEWART TITLE COMPANY Rv Corpus Christi, exas p /7 day of/Q�J j:cr , 19 o TO THE MEMBERS OF THE CITY COUNCIL Corpus Christi, Texas For the reasons set forth in the emergency clause of the foregoing ordinance, a public emergency and imperative necessity exist for the suspension of the Charter rule or requirement that no ordinance or resolution shall be passed finally on the date it is introduced, and that such ordinance or resolution shall be read at three meetings of the City Council; I, therefore, request that you suspend said Charter rule or requirement and pass this ordinance finally,on the date it is introduced, or at the present meeting of the City Council. Respectfully, MAYOR coo:_ THE CITY OF CORPUS C RISTI, TEXAS The Charter rule was suspended by the followjng v'te: Luther Jones Edward L. Sample Dr. Jack Best David Diaz Jack K. Dunphy Betty N. Turner Cliff Zarsky The above ordinance was passed by the following Luther Jones Edward L. Sample Dr. Jack Best David Diaz Jack K. Dumphy Betty N. Turner Cliff Zarsky 159415, vote: