Beaver Creek Phase 3 Escrow Agreement DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D900B7C4
ITl'
(11
DENTON
215 E. MCK/NNEY STREET■ DENTON, TEXAS■ 76201 ■ 940.349.8451 ■ FAX 940.340.7707
February 15, 2021
Boyar& Miller, PC
2925 Richmond Ave, 14th Floor
Houston, TX, 77098
Attn: Hilary Tyson, Boyar & Miller, PC
Subject: Escrow Agreement for Sidewalk at Keystone Court an Merchant Trail Beaver
Creek Phase 3, FP 17-0004.
Dear Hilary Tyson, Boyar& Miller, PC,
With regard to the above-mentioned agreement (copy attached), please note LGI Homes
— Texas, LLC(Owner) has satisfactorily completed the relevant sidewalk improvements.
The City hereby authorizes Boyar & Miller, PC(Agency) to release the escrow
funds. If you have any questions or need further assistance in this matter, please contact
u s at PlanningTechnicians(kcityofdenton.com or (940)349-7716.
Sincerely
DocuSigned by:
152RDB
2/15/2021
96270423...
Saraens ley
Interim City Manager
"Dedicated to Quality Service"
www.cityofdenton.com
DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D900KC4
From: Plato, Robert W.
Sent: Friday, February 5, 2021 4:29 PM
To: Garcia, Christian A<Christian.Garcia@cityofdenton.com>; Whitaker, Candy
<Candy.Whitaker@cityofdenton.com>; tnelson@pape-dawson.com
Cc: Plato, Robert W. <Robert.Plato@cityofdenton.com>
Subject: Beaver Creek Sidewalk Escrow
Christian, Candy, and Tom,
Public works has checked the sidewalk at Beaver Creek Phases 1A, 2, and 3 and found the work
to be completed. The sidewalk escrow for these phases can be released. Please let me know if you have
any questions.
Cordially,
Public Works Inspections Supervisor
City of Denton
940.268.8497
901 A Texas Street
Denton, TX 76209
c n ti.
DENTON
Integrity.Transparency.Fiscal Responsibility.
Outstanding Customer Service.
I ANT
Dependable.Innovative.Aspiring to Greatness.
DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D900B7C4
i<(0 1 Engineering Development Review Division
DENTON 215 W. Hickory St., Denton, TX 76201 • (940) 349-7157
MEMORANDUM
DATE: August 23, 2018
TO: Todd Hileman
FROM: Becky Owens
SUBJECT: Sidewalk Escrow Agreement Summary
l LGI HOMES—Texas,LLC is the Owner/Developer for the development of Beaver Creek Ph-
3/FP17-0004, a 46.978 acre tract or parcel of land as a 146 single family lot subdivision with
11 common lots development located at Stuart Road.
This agreement is required in order to defer the construction of the interior public sidewalks as a
condition to receiving a Letter of Acceptance for the public improvements. It is executed by the
Developer,their selected Escrow Agent and the City. Upon proper completion of the Public
Improvements in accordance with this agreement, the City agrees to accept the Public
Improvements.
i
OUR CORE VALUES
Integrity • Fiscal Responsibility • Transparency • Outstanding Customer Service
DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D900KC4
Escrow Agreement
For Postponement
Of Interior Sidewalk
Project: Beaver Creek Ph-3
Project No. FP 17-0004
TYPE: SW
Approved by Engineering Development
Review, Engineering Services
Department, forwarded
To Legal Department Sign Date
Reviewed by Legal
-
De artment forwarded to 4 �3,
Department,
City Manager's Office Sign Date
Attested by Jennifer Walters, sa� A--TACgeD _51,9MAi7 a---
returned to Engineering
Development Review,
Engineering Services Sign Date
Department
*Please notify Jim Jenks,
Becky Owens and Greg Blackstone
by e-mail when agreements are complete
DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D90067C4
THIS AGREEMENT HAS BEEN
BOTH REVIEWED AND APPROVED
as to financial and operational
obligations and business terms.
Signature
Title
Department ,
Date Signed:
DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D900B7C4
FP17 - 0004
Effective March 2013 PROJECT NO.
CONTRACT TYPE
STATE OF TEXAS 5 ESCROW AGREEMENT
COUNTY OF DENTON 6 FOR POSTPONEMENT OF INTERIOR
SIDEWALK IMPROVEMENTS
WITHIN A RESIDENTIAL
SUBDIVISION
WHEREAS, LGI Homes - Texas, LLC hereafter referred to as
("Owner"),has undertaken to develop and/or plat a residential subdivision within the City of Denton,
Texas ("City")or its extraterritorial jurisdiction, as further described on the attached"Exhibit C" (the
"Development");and
WHEREAS,Owner has,pursuant to the City ordinances,executed a development contract(if
applicable) dated 12/27/2017 to insure that any and all exterior sidewalks, streets, water
and sewer lines, drainage facilities or other public improvements which are to be dedicated to the
public for a residential subdivision, hereafter referred to as ("Improvements"), are constructed and
completed in accordance with the specifications,standards and ordinances of the City;and
WHEREAS, in order to file a plat or to receive a Letter of Acceptance,Owner may,in lieu of
completing the interior sidewalks, escrow cash money with a bank or title company as escrow agent;
and
WHEREAS, in order to secure the construction of the Deferred Sidewalk,Owner has entered
into this agreement with the City and_Boyar & Miller, PC ("Escrow Agent"),
Pagel of 5
DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D900B7C4
NOW,THEREFORE,Owner,City and Escrow Agent agree as follows:
1. Amount: Owner, as a condition to receiving a Letter of Acceptance or filing of the
Plat, shall deposit the sum of Fifty-nine thousand, one hundred and fifty
dollars and 00/100 ($ 59,150.00 ), in cash money, with Escrow Agent, said
sum being in an amount, per the attached Cost Analysis (Exhibit "D"), and being
approximately 25% of the estimated cost to complete the Deferred Sidewalk (the
"Escrow").
2. Notice of Deposit: A Letter of Acceptance shall not be issued or the Plat filed by City
for the Development until Escrow Agent notifies City, in writing, that the Escrow
amount has been deposited in an escrow account with Escrow Agent.
3. Release of Funds: Escrow Agent shall not release any or all of the Escrow until the
City Engineer authorizes the Escrow Agent, in writing, to release such funds as
provided for herein as follows:
(a) The City Engineer shall authorize the release of all the Escrow when the
Deferred Sidewalk is completed,the determination of which shall be made by
the City Engineer whose judgment shall be binding on all parties hereto;
(b) The City Engineer may, but is not required to, authorize periodically, the
release of specified sums of the Escrow to the Owner if, and as,the Deferred
Sidewalk is completed and approved or accepted by the City in stages, so long
as the remaining funds not released are sufficient to complete the construction
of the remaining portion of the Deferred Sidewalk which has not been, but is
required to be,completed and accepted or approved by the City;
Page 2 of 5
DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D900B7C4
(c) Owner shall complete 100% of the Deferred Sidewalk improvements within
three years from the date of this agreement. If for any reason the Deferred
Sidewalk is not completed within this three year period the City,at its option,
may require the Escrow Agent to deliver the Escrow to the City. In such case
the City may retain the Escrow until such time as Owner completes the
Deferred Sidewalk, or may apply the Escrow toward the completion of the
Deferred Sidewalk and recover from Owner any remaining amount needed to
complete the Deferred Sidewalk.
4. Notices: Any notice to be sent,required to be sent,or given under this agreement shall
be sent to the address or fax no.of the parties hereto,as follows:
CITY: OWNER:
DRC Engineering Administrator LGI Homes Texas - LLC
215 W.Hickory Street 1450 Lake Robbins Drive #430
Denton,Texas 76209 The Woodlands, Tx 77380
Fax No.(940)349-7707 Fax No.
ESCROW AGENT:
Boyar& Miller, PC
Atten.: Hilary Tyson
2925 Richmond Ave, 14th Floor
Houston, Texas 77098
Fax No. (713 ) 552 - 1758
5. Fees: Owner agrees to pay any and all fees or costs charged by the Escrow Agent in
connection with this Agreement.
6. Non-Liability of Escrow Agent: The Escrow Agent shall have no responsibility
except for the safekeeping and delivery of the amounts deposited in the Escrow
Page 3 of 5
DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D900B7C4
account in accordance with this agreement. The Escrow Agent shall not be liable for
any act done or omitted to be done under this Agreement or in connection with the
amounts deposited in the Escrow account except as a result of the Escrow Agent's
gross negligence or willful misconduct. If any question,dispute or disagreement arises
among anyone or more of the parties hereto and/or any other party with respect to the
funds deposited in the Escrow account, the proper interpretation of this Agreement,
the duties of the Escrow Agent hereunder or the rights of the parties to this agreement,
the Escrow Agent shall not be required to act and shall not be held liable for refusal to
act until the question or dispute is settled and the Escrow Agent has the absolute right,
at its direction,to do either or both of the following:
(a) Withhold and/or stop all further performance under this agreement until the
Escrow Agent is satisfied, by receipt of a written document in form and
substance satisfactory to the Escrow Agent and executed and binding upon all
interested parties hereto (who may include the subscribers), that the question,
dispute or disagreement has been resolved;or
(b) File a suit in interpleader and obtain by final judgment rendered by a court of
competent jurisdiction,an order binding all parties interested in the matter.
7. Successors and Assigns: This agreement shall be binding upon the successors and
assigns of the parties hereto.
8. Venue: The parties hereto agree that if any legal action is necessary in connection
with this agreement,exclusive venue shall lie in Denton County,Texas.
Page 4 of 5
DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D900KC4
IN WITNESS WHEREOF,the said City,Owner and Escrow Agent have signed this instrument this
z rJ day of An""USt , 2018
CITY OF DENTON OWNER
BY: BY:
odd Hileman Signature
City Manager ,
G&A-- �-
Printed Name G62 APPROVED AS AS TO -;,
CITY ATTORNEY ESCROW AGENT
CITY OF NTON, IEXA,
� BoyaAilu, PC
BY: "
BY:
Hilary Tyson, Vice President
Printed Name
Page 5 of 5
4
1
DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D900KC4
EXHIBIT"C" - BEAVER CREEK, PH-3
SIDEWALK POSPONEMENT COST ESTIMATE
ITEM I UNIT I QUANITITY I UNIT COST COST
5-FT SIDEWALK(4-IN.THICK) ISY 1 52001 $45.50 $236,600.00
TOTAL:
25%of Total $59,150.00
DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D900B7C4
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DocuSign Envelope ID:C7504113-1 D95-4BC6-AEBF-9431 D900B7C4
BOYAR ,If MILLER 2925 RICHMOND FLOOR
HOUSUSTON TEXAS 77098
ATTORNEYS AT LAW 713,850.7766 1 BOYARMILLER.COM
August 21, 2018
.s
Via Email
Mr. Nolan Spradlin
LGI Homes-Texas, LLC
1450 Lake Robbins Drive, Suite 430
The Woodlands, TX 77380
E-Mail: Nolan.Spradlin@Igihomes.corn
Via Email
I Ms. Jennifer Decurtis
City of Denton
215 E. McKinney
Denton, TX 76201
E-Mail: Lennifer.decurtisa)-cityofdenton.com
Re: Sidewalk Escrow Agreement— Beaver Creek Phase 3; Project No. FP17-0004
Dear Landon and Jennifer:
The undersigned is the "Escrow Agent" under that certain Escrow Agreement for Postponement of
Interior Sidewalk Improvements Within a Residential Subdivision (the Escrow Agreement"), for the
subdivision known or to be known as "Beaver Creek" in the City of Denton, Denton County, Texas.
This letter is to confirm the Escrow Agent's receipt of funds in the amount of $59,150.00 pursuant to the
terms of the Escrow Agreement, and that such funds are being held in the account as follows:
Account Name (Field 59): BoyarMiller IOLTA ACCOUNT
Beneficiary Address: 2925 Richmond Ave, 14th FL
ABA/Routing Number 062001186
Account Number: 38339699
Escrow Agent shall hold funds pursuant to the terms of the Escrow Agreement. Please provide a fully
executed copy of the Escrow Agreement to the undersigned as soon as available.
Please let us know if you have any questions regarding this.
Very truly yours,
BOY & MILLER, P.C.
4ry Tys n, Es
c
Ltr to LGI and Denton-Receipt of Sidewalk Escrow Funds(Beaver Creek)FP17-0004(Phase 3).DOCX
Docul'ice,.
Certificate Of Completion
Envelope Id:C75041131 D954BC6AEBF9431 D90067C4 Status:Completed
Subject: Please DocuSign:Release of Escrow FP17-0004 Beaver Creek Packett.pdf
Source Envelope:
Document Pages: 13 Signatures: 1 Envelope Originator:
Certificate Pages:2 Initials:0 Candy Whitaker
AutoNav: Enabled 901 B Texas Street
Envelopeld Stamping: Enabled Denton,TX 76209
Time Zone: (UTC-06:00)Central Time(US&Canada) Candy.Whitaker@cityofdenton.com
IP Address: 198.49.140.104
Record Tracking
Status:Original Holder:Candy Whitaker Location: DocuSign
2/15/2021 11:51:02 AM Candy.Whitaker@cityofdenton.com
Signer Events Signature Timestamp
Sara Hensley by Sent:2/15/2021 12:17:25 PM
Sara.Hensley@cityofdenton.com ED—Sig-1
'"'`H�"��Y Viewed:2/15/2021 12:58:03 PM
City of Denton 5236DB296270423... Signed:2/15/2021 12:58:24 PM
Security Level: Email,Account Authentication
(None) Signature Adoption: Pre-selected Style
Using IP Address: 107.77.196.66
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
In Person Signer Events Signature Timestamp
Editor Delivery Events Status Timestamp
Agent Delivery Events Status Timestamp
Intermediary Delivery Events Status Timestamp
Certified Delivery Events Status Timestamp
Carbon Copy Events Status Timestamp
Candy Whitaker COPIED Sent:2/15/2021 12:20:22 PM
candy.whitaker@cityofdenton.com Resent:2/15/2021 12:58:25 PM
Planning Technician I Viewed:2/15/2021 12:21:07 PM
City of Denton
Security Level: Email,Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Rob Plato COPIED Sent:2/15/2021 12:20:21 PM
Robert.Plato@cityofdenton.com
Public Works Inspection Supervisor
Security Level: Email,Account Authentication
(None)
Electronic Record and Signature Disclosure:
Not Offered via DocuSign
Witness Events Signature Timestamp
Notary Events Signature Timestamp
Envelope Summary Events Status Timestamps
Envelope Sent Hashed/Encrypted 2/15/2021 12:17:25 PM
Certified Delivered Security Checked 2/15/2021 12:58:03 PM
Signing Complete Security Checked 2/15/2021 12:58:24 PM
Completed Security Checked 2/15/2021 12:58:24 PM
Payment Events Status Timestamps